Business
Sri Lanka Slaps US$27mn Penalty on Trident Chemphar over Substandard Coal
Deputy Energy Minister Arkam Ilyas says fines on the first 15 shipments total US$27mn; a US$15mn performance bond is also held and no demurrage will be paid.
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CPA report sees land bridge cutting India–Sri Lanka cargo time to 9 hours
Centre for Policy Alternatives policy brief models a Dhanushkodi–Talaimannar fixed link cutting cargo transit from 40–122 hours by sea to about 9 hours.
Business
Colombo Stocks End Tuesday Down at 22,298 After Peace-Talk Rally Fades
ASPI closes 15.40 points down at 22,298 after an intraday rally on Trump peace-talk hopes faded; Dialog and Vallibel One lift, banks drag.
Business
CSE Trends Up as Rupee Slides to Rs. 337.50 Selling; Bond Yields Climb
Colombo stocks rose midday Tuesday as the rupee weakened to 328.50/337.50 against the dollar and government bond yields edged higher across the curve.
Business
Think Tank Warns Sri Lanka's Export, FDI Drive Lacks Ambition Amid Global Squeeze
Centre for a Smart Future warns trade and FDI reform has stalled a year after its policy note, while global economic conditions continue to worsen.
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Sri Lanka to formulate national policy on foreign workers entering country
Cabinet clears formulation of an Inbound Labour Migration Policy governing admission, employment, supervision and protection of foreign workers in Sri Lanka.
Business
Inland Revenue Warns of Legal Action Over False TIN Registrations
IRD says legal action will follow against anyone who obtained a Taxpayer Identification Number using false information, as registrations exceed 13 million.
Business
Cabinet Approves Formulation of National Intellectual Property Policy
Cabinet approved formulating a National Intellectual Property Policy to fix coordination gaps between NIPO and other state agencies, Vijitha Herath said.
Business
Rupee Selling Rate Hits Rs. 340 at People's Bank, Extending Slide
People's Bank quotes Rs. 340.67 on the dollar Tuesday, a fresh cycle high as commercial bank rates jump again and EconomyNext records bond yields rising.
Business
Senarath Engineering wins Rs.819mn tender for Malabe-Kaduwela Road
Cabinet approves Senarath Engineering's bid to improve the 5.56km Malabe-Kaduwela Road (B 263) at Rs.819 million ex-VAT; eight bids received for the project.
Business
Singer Sri Lanka profit jumps 77.5% to Rs.2.39bn in March 2026 quarter
Home appliances PBT more than doubled and financial services PBT rose 77%, lifting group revenue 47% to Rs.35.7bn; receivable impairment jumped to Rs.455mn.
Business
Standard Chartered to cut over 7,000 back-office jobs in AI push
London-based bank says 15% of back-office roles will go by 2030 as it deploys AI; centres in Chennai, Bengaluru, Kuala Lumpur and Warsaw most exposed.
Business
Vehicle number plate printing to resume by June 10 at Werahera, DMT says
South Asian Technologies installed machinery at DMT's Werahera premises under a 5-year contract; number plate printing to resume by June 10.
Business
Government Says Rupee Slide Manageable with IMF and ADB Inflows Ahead
Cabinet spokesperson Vijitha Herath says expected US$ 700M IMF and US$ 200M ADB inflows, import controls and stronger exports will help stabilise the rupee.
Business
Cabinet freezes water tariffs for first half of 2026
Ministry says NWSDB's 2025 financials show current tariffs cover operating costs, removing the case for a January–June revision under the 2024 formula.
Business
Farmers Get 14 Days to Report Yala Crop Losses; Compensation Up to Rs. 100,000 a Hectare
Agricultural Insurance Board sets 14-day deadline for paddy, maize, potato, soya, chilli and onion farmers claiming rain damage at the Yala season's start.
Business
Anil Jayantha urges Sri Lankans to cut fuel use as CPC bill nears $1 billion
Deputy Finance Minister asks public to economize fuel as CPC has spent $1 billion on oil imports in four months — two-thirds of last year's full bill.
Business
April PMI Shows Manufacturing and Services Both Contract After March Festive Peak
Manufacturing PMI fell to 42.6 and services PMI dropped to 46.7 in April 2026 as festive demand faded, fewer working days hit output and fuel costs weighed.
Business
CBSL Governor: CPC's $1 billion oil import bill in four months is driving rupee fall
CBSL Governor Weerasinghe told COPF that CPC spent $1bn on petroleum in Jan–Apr 2026, matching most of 2025's full-year bill as the rupee weakens.
Business
Rupee fall driven by Middle East oil shock, not domestic crisis: CBSL Governor
Weerasinghe told a media briefing the rupee's 4.8% slide in 2026 reflects global oil price pressures, citing 6.4% in India and 6.2% in Nepal.
Business
CBSL Governor: rupee fell 4.8% on global oil shock, 5% growth target now uncertain
Governor Weerasinghe said Sri Lanka's 4.8% rupee slide is milder than India's 6.4% and reflects oil-import pressure, not a 2022-style domestic crisis.
Business
CPC threatens legal action against fuel stations bypassing QR system in Uva
CPC Managing Director warns of strict enforcement after Uva Province fuel stations were found issuing fuel without the mandatory QR code verification system.
Business
Colombo stocks tumble 2.59% to 22,313 Monday, no spot quote for rupee as bond yields rise
ASPI ended down 592 points at 22,313 on heavy selling; dollar trades hit Rs.326.50-327.50, no spot close, and bond yields rose across the curve.
Business
Sri Lanka to record first current account deficit since 2022 crisis, says Central Bank
Higher oil imports will push Sri Lanka's current account into deficit in 2026, ending a three-year surplus run, Deputy CB Governor Amarasekara told COPF.