Business
Colombo Stocks Close Down 0.89% as Hormuz Tensions Dent Monday Trade
ASPI lost 203 points to close at 22,570.03 on Monday as Middle East uncertainty weighed on sentiment, with Softlogic calling it a 'one-off' dip.
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1202 stories Business
CSE Slides, Rupee Weakens as Iran Tensions Dent Monday Market Open
ASPI fell 0.39% and the rupee softened to 316.40/80 in Monday midday trade as investors were unsettled by the escalating US-Iran standoff.
Business
Excise Department Beats Q1 Target with Record Rs. 70.4B Revenue
Excise revenue hit Rs. 70.4 billion in Q1 2026 — 113.6% of target, up 114.8% year-on-year, driven by tighter enforcement and security seals on liquor.
Business
IMF Cuts 2026 Global Growth to 3.1%, Warns of Recession Risk from Iran War
The IMF trimmed its 2026 global growth forecast to 3.1% and said a prolonged Iran war and 100-200% oil spike could push growth toward recessionary 2%.
Business
Oil Prices Jump 6% to $96 as Iran Refuses Islamabad Talks and US Seizes Tanker
Brent crude surged 6.4% to $96.13 in Monday Asian trading after Iran refused Islamabad talks and the US seized the Iranian-flagged Touska cargo ship.
Business
Sri Lanka's Three State Banks Report Record 2025 Profits; BOC Sets 87-Year High
People's Bank, Bank of Ceylon and NSB reported record 2025 profits as chairmen handed annual reports to President Dissanayake on Monday.
Business
Tourist Arrivals Cross 800,000 for 2026, but April Falls 27% as Iran War Bites
Sri Lanka's tourist arrivals hit 809,595 by mid-April, but daily visitor numbers fell 27% year-on-year as the Middle East conflict weighs on travel.
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India, Sri Lanka and UAE Renew Urgent Push on Trincomalee Oil Hub
Indian Foreign Secretary Misri says 'no time to lose' on the Sri Lanka-India-UAE Trincomalee oil hub as the Hormuz crisis raises supply urgency.
Business
Sri Lanka Vehicle Registrations Hit All-Time High in March, EVs Claim 83% of New Cars
Vehicle registrations rose 11.1% in March to a record 55,470 units on pre-tax buying, with BYD-led EVs accounting for over 83% of new car registrations.
Business
Sri Lanka Customs Revenue Hits Rs. 765.7 Billion by Mid-April, Tops Target
Customs revenue beat the period target by Rs. 71.8 billion as Middle East crisis rerouted cargo through Colombo Port, officials said.
Business
Expressway revenue tops Rs. 441 million from 1.17 million vehicles over nine-day Avurudu period
Sri Lanka's expressway network earned more than Rs. 441 million from 1.17 million vehicles between April 10 and 18, the Road Development Authority said.
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India Calls Colombo Dockyard Takeover a 'Strategic Sector' Investment
India's Foreign Secretary Misri calls MDL's 51% Colombo Dockyard stake a strategic sector investment during VP Radhakrishnan's visit.
Business
India and Sri Lanka Discuss Oil Pipeline Link at AKD-Radhakrishnan Meeting
India and Sri Lanka discussed a cross-sea oil pipeline and Trincomalee energy hub as Hormuz fuel costs threaten Sri Lanka's import bill.
Business
World Lost $50 Billion Worth of Oil in 50 Days of Iran War, Analysts Say
More than 500 million barrels knocked out since February — Gulf production losses equal ExxonMobil and Chevron combined output, according to Kpler data.
Business
Eight Hydropower Reservoirs Below 60% as El Niño Threatens Monsoon
Met Department warns June–September rains will be disrupted; FSP names ministers in March 24 decision to draw 330 million cubic metres from Victoria.
Business
Adani Overtakes Ambani as Asia's Richest, With Significant Sri Lanka Ties
Gautam Adani reclaims the top spot from Mukesh Ambani — both have major investments in Sri Lanka's infrastructure.
Business
CBSL Governor Holds China, India Bilaterals at IMF Spring Meetings
CBSL Governor Nandalal Weerasinghe met Chinese and Indian counterparts in Washington to discuss geopolitical risks and trade settlement.
Business
CPC Paid $281 to $288 Per Barrel of Diesel in Three March-April Shipments
Ceylon Petroleum admits three diesel cargoes between March 31 and April 8 carried premiums of $45-$50 over Platts, up from $3 pre-war.
Business
Colombo Stock Exchange Opens Galle Branch, Extends Regional Footprint to 12
The CSE opened its 12th regional branch in Galle, aiming to connect cinnamon and tea entrepreneurs in the Southern Province to capital markets.
Business
Energy Ministry Plans Annual Electricity Tariff to Replace Quarterly Revisions
Proposed formula would lock the tariff once at the start of the year, offsetting dry-season losses against wet-season hydro revenue.
Business
Fertiliser Jumps to $800/MT as Yala Paddy Yields Forecast to Drop 20%, Maize 30%
Next shipment priced at $800 per tonne, up from $650, as Hormuz-linked cost surge threatens Sri Lanka's Yala harvest and food prices.
Business
Audit Confirms Trident Chemphar Coal Caused Mill Fires and Capacity Drops at Lakvijaya
National Audit Office finds South African coal fell below rejection thresholds, sparked a mill fire on March 5 and cut units to as low as 214MW.
Business
Litro Gas Assures Uninterrupted LPG Supply Through May
State-owned Litro Gas says it can maintain continuous LP gas distribution throughout May despite Middle East energy disruptions.
Business
Port City Colombo Enters $15 Billion Phase as Vertical Development Begins
CHEC secures $300m for Phase II infrastructure as registered tenants pass 200 and investment commitments reach $1 billion.