Business
Anil Jayantha urges Sri Lankans to cut fuel use as CPC bill nears $1 billion
Deputy Finance Minister asks public to economize fuel as CPC has spent $1 billion on oil imports in four months — two-thirds of last year's full bill.
Business
1727 stories Business
April PMI Shows Manufacturing and Services Both Contract After March Festive Peak
Manufacturing PMI fell to 42.6 and services PMI dropped to 46.7 in April 2026 as festive demand faded, fewer working days hit output and fuel costs weighed.
Business
CBSL Governor: CPC's $1 billion oil import bill in four months is driving rupee fall
CBSL Governor Weerasinghe told COPF that CPC spent $1bn on petroleum in Jan–Apr 2026, matching most of 2025's full-year bill as the rupee weakens.
Business
Rupee fall driven by Middle East oil shock, not domestic crisis: CBSL Governor
Weerasinghe told a media briefing the rupee's 4.8% slide in 2026 reflects global oil price pressures, citing 6.4% in India and 6.2% in Nepal.
Business
CBSL Governor: rupee fell 4.8% on global oil shock, 5% growth target now uncertain
Governor Weerasinghe said Sri Lanka's 4.8% rupee slide is milder than India's 6.4% and reflects oil-import pressure, not a 2022-style domestic crisis.
Business
CPC threatens legal action against fuel stations bypassing QR system in Uva
CPC Managing Director warns of strict enforcement after Uva Province fuel stations were found issuing fuel without the mandatory QR code verification system.
Business
Colombo stocks tumble 2.59% to 22,313 Monday, no spot quote for rupee as bond yields rise
ASPI ended down 592 points at 22,313 on heavy selling; dollar trades hit Rs.326.50-327.50, no spot close, and bond yields rose across the curve.
Business
Sri Lanka to record first current account deficit since 2022 crisis, says Central Bank
Higher oil imports will push Sri Lanka's current account into deficit in 2026, ending a three-year surplus run, Deputy CB Governor Amarasekara told COPF.
Business
Dunusinghe: future vehicle import policy must be necessity-based to protect FX reserves
Colombo economist warns unsold stock is piling up at yards while reserves drain; calls for permits tied to genuine domestic need rather than dealer demand.
Business
Economists warn against return to subsidy-driven growth as global shocks test Sri Lanka's reform path
CBSL Deputy Governor Amarasekara, Ceylon Chamber and Peradeniya economists urged Sri Lanka to avoid 'stop-and-go' policy and accelerate export-led reform.
Business
Fuel dealers flag Octane 95 petrol and Super Diesel shortage at CPC stations
Petroleum Dealers' Association says Rs.3mn stock investment yields only Rs.45,000 in margin per shipment, making premium fuels unviable at most CPC outlets.
Business
Government allocates Rs. 57 billion for three-month fuel subsidy on diesel and petrol
CPC Chairman D.A. Rajakaruna confirmed Rs. 100 per litre diesel and Rs. 20 per litre petrol subsidies will run for three months under a Rs. 57bn allocation.
Business
Agreement signed to import 104 new metro buses, delivery due August
The Transport Ministry signed a deal with Indra Traders (Pvt) Ltd to import 104 buses for the Metro Transit Company, with delivery expected in August.
Business
Banks welcome PayPal launch as 150,000 freelancers gain formal FX channel
BOC, Commercial Bank and Sampath Bank CEOs welcomed PayPal's Sri Lanka rollout, with BOC saying around 150,000 freelance customers stand to benefit.
Business
Sri Lanka rupee selling rate jumps to Rs. 334 across commercial banks
The Sri Lankan rupee weakened further on Monday, with most commercial banks quoting selling rates at Rs. 334 — a fresh low extending the post-cyclone slide.
Business
KPMG urges IRD Bill amendments after SC flags certificate procedure
KPMG's Suresh Perera says the SC backed Section 185A but flagged Section 163 certificate procedure as needing amendment before Wednesday's second reading.
Business
Seven companies qualify to bid in 2026-2027 Lakvijaya coal tender after rules tightened
Lanka Coal Company has shortlisted seven of nine bidders for the 2.28-million-tonne Lakvijaya tender after tightening qualification and split-award rules.
Business
Colombo Port handled 8.2 mn containers in 2025 but efficiency rank tumbles to 80th
EconomyNext explainer says Adani's CWIT terminal hit 1mn TEUs in year one as Colombo's World Bank port performance rank fell 52 places.
Business
HNB Life Q1 2026: Gross Written Premium surges 54% to Rs.7.01 billion
Newly rebranded HNB Life posts Rs.7.01bn GWP and Rs.71.4bn total assets in Q1 2026, though profit after tax slips on low rates and equity fair-value movements.
Business
IMF Executive Board to rule on Sri Lanka's combined EFF reviews on May 27
IMF sets May 27 for its Executive Board to decide on Sri Lanka's combined fifth and sixth EFF reviews, potentially releasing USD 700 million.
Business
New rules to stop insurance policies being used to evade withholding tax — Anil Jayantha
Deputy Finance Minister says complaints over savings-style insurance deposits prompt amendments to tax collection rules to plug evasion loophole.
Business
People's Bank reports Rs. 656 million loss from three-year remittance exchange rate error
State bank says exchange rate error in remittance system caused customers to receive excess payments from May 2023 to March 2026.
Business
April tourism revenue plunges 39% as Middle East crisis bites again
Sri Lanka's April tourism earnings fell to US$157.1 million, the eighth monthly drop in 10 months; four-month revenue down 19.4% to US$1.11 billion.
Business
Thriposha output disrupted as 2,290 MT maize shipment stuck at port over Cabinet-approval dispute
Thriposha supply hit as trade authorities withhold clearance for licensed maize shipment, citing fresh Cabinet approval despite earlier contrary guidance.