Business
Mandatory offer triggered at Standard Capital after investor takes 70.54% stake
Abishek Sithampalam bought 3.91 million voting shares from four companies for about Rs 156.3 million, obliging him to bid for the minority holdings.
Business
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Business
No VAT cut yet: deputy finance minister says revenue must be secured before the tax structure is reset
Anil Jayantha Fernando says relief on the 18% VAT is possible only once revenue is sustainable, and sets a new goal of about 18% of GDP by 2030.
Business
Export earnings reach US$13.61 billion in nine months, up 5.04 percent
September was the strongest month, up 17.23 percent year on year. India has overtaken the UK as Sri Lanka's second-largest market; tea and coconut fell.
Business
Norochcholai's second unit goes offline again for maintenance, two days after the plant was made whole
The same generator whose restoration ended three days of island-wide power cuts has been shut down. The operator says there will be no interruption to supply.
Business
Supreme Court revives dismissed commercial case, holding jurisdiction cannot be stripped at pre-trial
The Commercial High Court threw out a claim before evidence was led. The Supreme Court restored it and awarded costs against the defendant.
Business
Tomatoes jump to Rs 650 a kilo at wholesale as rain drives vegetable prices up
Cabbage has more than doubled to Rs 350 and capsicum is up to Rs 450. A Manning Market trader warns prices could climb further as the festive season nears.
Business
Nearly 200 violations found in five days of CAA raids on shops not displaying prices
The Consumer Affairs Authority ran special raids across several districts from 20 to 24 October, targeting traders who do not show what goods cost.
Business
Energy Minister says Sri Lanka may push past its 70% renewable target — and will reprice rooftop solar
Anura Karunathilaka tells AFP the Iran war is a wake-up call, and signals a new pricing model for the 150,000 households feeding solar into the grid.
Business
All three private distributors raise Octane 95 petrol by Rs 20 to Rs 495 a litre
Lanka IOC, Sinopec and RM Park raise Octane 95 petrol by Rs 20 to Rs 495. CPC has not matched the increase.
Business
Litro to put 700,000 gas cylinders on the market by Tuesday as fifth vessel docks
The Goodwill landed 3,900 tonnes on Saturday and a sixth ship is due Monday. The 700,000 target matches two full cargoes almost exactly.
Business
Audit finds SLTB's 200-electric-bus plan stalled: ten bidders, one bid, nothing bought
Cabinet approved the purchase in 2023. The tender collapsed in July 2024 and, the audit says, no step had been taken to restart it fifteen months later.
Business
Tourist arrivals pass 1.8 million but run 1.4% behind last year
Tourist arrivals reach 1.8m to 22 October, up 5% for the month but down 1.4% year-to-date. The 2.7m annual target is out of reach.
Business
British Airways lands at Katunayake, restoring a direct London link broken for 11 years
British Airways launches direct service from London Gatwick, restoring a route discontinued 11 years ago.
Business
Farmers told to plant two weeks early against drought are now being rained out — and will be compensated
Farmers who sowed early on government advice against El Niño drought will be compensated for crop damage from current rains, Namal Karunaratne says.
Business
Hyatt says it will enter Sri Lanka through Colombo — as the State tries to sell it the tower it has waited 14 years for
Hyatt confirms Sri Lanka entry through Colombo, with expansion to additional destinations planned.
Business
Sri Lanka and JICA to study fish wastage before launching a post-harvest loss project
Sri Lanka and JICA to study fish wastage before launching a post-harvest loss project starting in November.
Business
Minister floats releasing idle state farm land at Kotagala to dairy farmers
Lal Kantha says he will seek a way to hand uncultivated National Livestock Development Board land at Kotagala Rosita to milk producers.
Business
Rupee down 6.6% against the dollar this year as foreign holdings of government paper slip
Central Bank weekly indicators put year-to-date rupee depreciation at 6.6% as of 23 October, up from 6.3% a fortnight earlier, with foreign holdings down 1.4%.
Business
Retired IRD deputy chief urges taking traders out of VAT and raising the rate to 20%
A former Deputy Commissioner General of Inland Revenue argues VAT and the SSCL double-tax the same turnover, and proposes splitting them by type of business.
Business
Minister tells London forum British investment in Sri Lanka has reached $1.73 billion
Trade Minister highlights British investment in Sri Lanka, invites UK firms to Sri Lanka Expo 2027.
Business
Asia Asset Finance to raise Rs. 2 billion in five-year debentures
Twenty million debentures at Rs. 100 each, to be listed on the Colombo Stock Exchange. The coupon will not be fixed until the trust deed is finalised.
Business
Energy Minister says blackout losses will not reach consumers, three days after telling Parliament tariffs absorb them
Anura Karunathilaka says no tariff rise is needed for the October–December quarter and the government will not transfer outage losses to electricity users.
Business
Customs has collected 79% of its October target in 21 days — and its daily rate nearly doubled mid-month
Customs took in Rs. 152.8bn by 21 October against a Rs. 193.3bn monthly target, and now stands at 103.6% of the full-year goal.
Business
Government, not IMF, will decide on return to bond markets: Anil Jayantha
The IMF assumes Sri Lanka raises $3bn through sovereign bonds by 2028, but the Deputy Finance Minister says those are Fund assumptions, not government plans.