Business
Sri Lanka signs MoU with Russia to modernise railway sector at Kazan forum
Transport Minister Bimal Rathnayake and Russian Deputy Minister Dmitry Serebryakov signed the agreement at the 17th International Economic Forum in Tatarstan.
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Business
Sri Lanka tourist arrivals cross 950,000 mark in 2026
The Sri Lanka Tourism Development Authority confirmed cumulative arrivals passed 950,000 for the year, sustaining the milestone trajectory through May.
Business
Sugar, dhal and rice prices set to rise as rupee depreciation squeezes food importers
The Essential Food Importers' Association warned the weakening rupee will push up consumer prices for sugar, dhal, rice and other staples in the coming weeks.
Business
Sri Lanka tourist arrivals stabilising in May after sharp Middle East conflict-driven falls
Sri Lanka logged 75,465 arrivals in the first 17 days of May, just 0.9% below last year, recovering sharply from March–April's 20–22% declines.
Business
Economist Wignaraja warns Sri Lanka should plan for an 18th IMF programme as war and Ditwah compound recovery
ODI Global fellow tells RCSS dialogue the contingency is becoming inevitable; outlines best, moderate and prolonged-war scenarios under Hormuz shock.
Business
US Justice Department drops criminal fraud case against Adani
DOJ moved to dismiss bribery prosecution of Gautam Adani over alleged $250M solar scheme, citing prosecutorial discretion after FCPA enforcement pause.
Business
Anil Jayantha Cites Middle East, Oil and FX Demand for Rupee Slide as Sajith Presses Govt
Deputy Finance Minister tells Parliament the rupee has lost 4.8% on the dollar, blaming Middle East tensions, oil and FX demand as Sajith presses for a plan.
Business
Cabinet clears additional 15,000 MT of urea for Yala 2026 paddy season
Approval tops up subsidised urea for 450,000–500,000 ha of paddy as 48,297 MT of existing stocks are already in distribution at Rs.10,200 per 50-kg bag.
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.
Business
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.
Business
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.