Business
Former Insider Alleges Revenue Cartel at SriLankan Airlines, Calls for External CEO
Former insider alleges revenue cartel in SriLankan Airlines commercial division, urges external CEO appointment.
Business
1205 stories Business
CAA Extends Consumer Protection Raids Until April 30 After Nearly 2,000 Inspections
Consumer Affairs Authority says special festive season raids will continue through April 30 with nearly 2,000 conducted since March 20.
Business
30,000MT Furnace Oil Shipment Arrives as CPC Assures Uninterrupted Power Supply
CPC Chairman confirms arrival of furnace oil vessel, says power cuts are off the table as fuel stocks stabilise.
Business
Interpol Experts to Join NDB Fraud Probe as Investigation Goes International
CID requests Interpol virtual currency specialists from Lyon to assist Rs. 13.2 billion NDB fraud investigation; four suspects in remand.
Business
Norochcholai Unit 1 Shut Down as Avurudu Holiday Cuts Electricity Demand
Lakvijaya shuts one of three 300MW units due to lower demand; Units 2 and 3 continue operating normally.
Business
Oil Surges Past $100 as US Begins Blockade of Strait of Hormuz
Brent crude jumps 8% to $102.80 as CENTCOM prepares to enforce full naval blockade of Iranian ports from Monday.
Business
ADB Warns Sri Lanka Faces Fresh Food Inflation as Fertiliser Prices Surge 50%
ADB economist cautions urea prices up 50% and ammonia up 40% since February could push up Sri Lanka's food costs later this year.
Business
CAA Deploys 350 Officers to Continue Market Raids Through Avurudu Season
Consumer Affairs Authority says enforcement will not pause during festive season, with 6,000 inspections completed since January.
Business
Cabinet Approves Weekly Fuel Price Revision Formula Linked to Global Oil Rates
Sri Lanka's Cabinet gives the green light for a new fuel pricing formula allowing multiple price revisions per month based on world oil fluctuations.
Business
Former CEB Employees Claim VRS Compensation Still Unpaid After Restructuring
Employees who accepted voluntary retirement when CEB was dissolved on March 9 say promised payments have not been made.
Business
Heavy Rains End Three-Month Dry Spell in Central Hills Catchment Areas
Thundershowers hit Castlereagh, Maussakelle and Upper Kotmale, easing drought that had depleted hydropower reservoirs.
Business
Substandard Coal to Cost Sri Lanka 250 GWh of Electricity Over Three Months
Sri Lanka faces 250 GWh electricity loss from substandard coal at Lakvijaya over the April-June quarter.
Business
Hotels Report Sharp Drop in Domestic Bookings as Fuel Crisis Dampens Avurudu Travel
Sri Lankan hotels face steep decline in domestic tourist bookings during Avurudu season as fuel shortages and rising costs deter travel.
Business
Middle East War to Dominate IMF and World Bank Spring Meetings
World Bank cuts emerging market growth to 3.65% and raises inflation forecast to 4.9% as war shock overshadows Spring Meetings.
Business
PUCSL Rules Out Passing Coal Crisis Costs to Electricity Consumers
The utilities regulator says extra costs from Sri Lanka's coal procurement crisis will be excluded from all future electricity tariff revisions.
Business
Tea Smallholders Say Government's 25,000 MT Fertiliser Offer Covers Less Than 60% of Needs
Tea growers criticise government's one-off 25,000 MT fertiliser subsidy as inadequate for 267,000 hectares of cultivation.
Business
Chilaw Plantations Posts Record Rs. 650 Million Profit for 2025
State-owned plantation company reports threefold profit increase to Rs. 650M, distributes Rs. 137M in employee bonuses.
Business
CPC Chairman Confirms 12 Fuel Shipments in April, No Petrol Shortage Until June
Ceylon Petroleum Corporation says petrol is secured until June and diesel until May as 12 shipments arrive this month.
Business
CPC Suspends Petrol QR Quota System Until April 18 for Avurudu
Petrol vehicle owners can fuel up without QR codes from midnight tonight until April 18 as CPC eases restrictions for the holiday.
Business
CSE Records Rs. 401 Billion Weekly Market Cap Gain on Ceasefire, IMF Optimism
ASPI surges 4.78% for the week as Iran ceasefire, IMF deal, and NCM outcome lift investor sentiment.
Business
Fitch Downgrades NDB to A-(lka) Over Rs. 13.2 Billion Fraud
Fitch cuts NDB's rating to A-(lka) with Negative outlook after internal fraud eroded capital buffers and weakened risk controls.
Business
Industry Ministry Reports Rs. 31 Billion in SME Loans Approved in Q1 2026
Over 5,000 businesses received financing as ministry outlines industrial recovery milestones and upcoming investment forum.
Business
No Fertiliser Shortage: Government Confirms Surplus Stocks Ahead of Yala Season
Deputy Agriculture Minister says farmers should not fear shortages as surplus fertiliser stocks are confirmed for Yala.
Business
Rupee Depreciates 1.8% Against US Dollar in 2026 as Middle East Conflict Weighs
CBSL confirms rupee has weakened 1.8% against the dollar in 2026, driven by Middle East conflict pressures.