Business
NDB Issues Official Statement, Puts Worst-Case Fraud Loss at Rs. 4 Billion
NDB Bank's first formal board statement on April 8 pegs the after-tax loss from its internal fraud at roughly Rs. 4bn — 0.7% of its Rs. 990bn asset base.
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Business
Fourth Suspect Arrested in NDB Bank Rs. 13.2 Billion Fraud Probe
CID's Computer Crimes Division has arrested a fourth suspect in the NDB Bank fraud probe centred on Rs. 13.2 billion in alleged misappropriation.
Business
Karunanayake Grills CBSL on NDB Fraud Oversight in Parliament
MP Ravi Karunanayake asked parliament why CBSL bank supervision missed Rs. 13.2 billion in NDB outflows while ordinary depositors face heavy paperwork.
Business
NDB Shares Crash 15% as Trading Resumes After Fraud Halt
NDB Bank stock fell to Rs. 110.75 on April 8 after the Colombo Stock Exchange lifted its trading halt; activists slam board for ignoring receivables spike.
Business
Power Operator Seeks Further 15% Electricity Tariff Hike on Top of 10% Already in Force
NSO has asked PUCSL for a fresh 15% Q2 tariff increase citing revised generation costs, on top of the 10% hike that took effect from April 1.
Business
Siyapatha Finance Lists Rs. 3.75bn Debentures on CSE at 11.5%
Sampath Bank's NBFI subsidiary completes oversubscribed five-year subordinated debenture issue rated BBB+(lka) by Fitch.
Business
Andre Fernando Appointed Chairman of Sri Lanka Freight Forwarders Association
Logistics veteran takes over the SLFFA at a critical moment for trade as Hormuz disruption, Trump tariffs and UK DCTS reshape Sri Lanka's export routes.
Business
Sri Lanka to Build Automatic Fuel, Electricity Tariff Adjustment Mechanism
Deputy Finance Minister Anil Jayantha Fernando says a formula-based framework will link Sri Lanka's fuel and power tariffs to global prices.
Business
Sri Lanka Tea Prices Slide for Third Straight Month in March
Colombo Tea Auction national average fell to Rs. 1,144.23 in March; Q1 sales average down Rs. 26 versus 2025 as global demand softens and energy costs bite.
Business
Energy Sector Veteran Sulakshana Jayawardena Named Acting BOI Chairman
Dr. Sulakshana Jayawardena, an SLAS officer with over two decades in power and renewable energy, will lead the Board of Investment in an acting capacity.
Business
Uber Eats Goes Live in Nuwara Eliya for Avurudu Holiday Season
Food delivery platform expands to hill country resort city with temperature-controlled bags ahead of April holiday tourist surge.
Business
Access Engineering Injects Rs. 8.5bn into Harbour Village Before Marina Square Opening
Access Engineering has recapitalised its Harbour Village subsidiary with Rs. 8.5 billion ahead of Marina Square's soft opening at Colombo Port City.
Business
Cabinet Approves Fuel Subsidy Scheme for Fisheries Sector Starting April 20
Small boats to get Rs. 50 per litre; multi-day vessels eligible for Rs. 150,000 per trip as fuel crisis bites fishing communities.
Business
CEB to Supply Power for Avurudu Events on Paid Basis
Ceylon Electricity Board will provide power for Sinhala-Tamil New Year celebrations on a payment basis between April 15-19 amid the energy crisis.
Business
Dissanayake Unveils Rs. 100 Billion, Three-Month Relief Package
Dissanayake's Rs. 100 billion package covers fuel, power, fertiliser and Aswesuma over three months, with a new Rs. 20/litre petrol subsidy.
Business
Cabinet Clears Five-Year Tax Exemption for New Telecom Towers
Finance Act amendment will waive the Rs. 200,000 annual tower tax for masts erected from January 2026, aimed at spurring network rollout.
Business
Fitch Assigns A(lka) Rating to WindForce's Proposed Rs. 4 Billion Debentures
Rating one notch below corporate A+(lka) reflects structural subordination; WindForce earns over 80% of EBIT from state-owned National System Operator.
Business
Lanka Coal calls bids for 2.28 million tonnes for Norochcholai, late 2026 supply
State-run Lanka Coal Company opens tender for 2.28 million tonnes of coal in 38 shipments for the Lakvijaya plant from September 2026 to April 2027.
Business
LAUGFS Lands 7,000 MT LPG Shipment to Secure Avurudu Supply
LAUGFS Gas confirms 7,000 MT LPG cargo from SHV Energy delivered to Hambantota terminal to ensure uninterrupted festive supply for Sinhala-Tamil New Year.
Business
NDB Fraud: Key Questions Unanswered as Loss Estimate Jumps 33-Fold in Four Days
EconomyNext explainer flags unanswered questions behind NDB's Rs. 13.2 billion fraud — including how the estimate ballooned from Rs. 390 million in 96 hours.
Business
NSB Posts Record Rs. 59 Billion Operating Profit for 2025
National Savings Bank reported its highest-ever operating profit before tax in 2025, contrasting sharply with the NDB Bank fraud crisis at a private peer.
Business
People's Leasing Raises Rs. 10 Billion Via Private Placement to Boost Tier 2 Capital
People's Leasing & Finance issued Rs. 10 billion in subordinated trust certificates to boost Tier 2 capital ahead of CBSL consolidation push.
Business
Sinopec Raises Super Diesel by Rs. 28 to Rs. 600 as CPC, Lanka IOC Hold Prices
Private retailer Sinopec breaks ranks with government and Indian-owned rivals in second fuel price adjustment amid Middle East supply disruptions.
Business
Sri Lanka airports stuck at 30% flight slump as Middle East war drags on
Deputy Tourism Minister says Sri Lanka airport operations dropped 60% at the war's outset and remain 30% below normal as airlines suspend or cut Gulf routes.