Business
Bank of Ceylon posts Rs. 28.8 billion pre-tax profit in Q1 2026
State-owned Bank of Ceylon reported Rs. 18.8 billion in profit after tax for the three months ended 31 March, citing a stabilising macroeconomic environment.
Business
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Business
Commercial Bank first private banking group to cross Rs. 3.5 trillion in assets
Commercial Bank Group reported Rs. 3.61 trillion in assets and Rs. 17.94 billion in Q1 2026 net profit, up 19.8% year-on-year on 31.35% loan-book growth.
Business
SriLankan Airlines hit by double fraud in Dubai and Chennai, Anil Jayantha confirms
Deputy Finance Minister Anil Jayantha confirmed two SriLankan Airlines frauds — a hacked agent email in Dubai and forged documents at Chennai.
Business
Karunathilake Outlines Renewables Plan to Cut Electricity Bills as 1,898 CEB Retirees Get Compensation
Energy Minister Karunathilake said higher renewable penetration and hydropower efficiency will cut consumer bills as 1,898 CEB retirees received compensation.
Business
NAQDA launches Rs.25m cage method to modernise inland prawn industry
NAQDA has rolled out a Rs.25 million cage-pregrowing project that triples larvae-to-prawn efficiency at five tested reservoirs across three districts.
Business
Nations Trust Bank posts Rs. 4.6 billion profit after tax in Q1 2026
Nations Trust Bank reported a 12% year-on-year rise in Q1 profit after tax to Rs. 4.6 billion, with return on equity at 18.98% and a Net Stage 3 ratio of 1.10.
Business
Oil Prices Surge 3% to $109 as US-Iran Combat Fears Revive
Brent settled at $109.26 on Friday, up 7.84% for the week, as Trump and Araqchi statements dented hopes of a swift Hormuz reopening and US-Iran de-escalation.
Business
Pan Asia Bank posts Rs. 1.65 bn PBT in Q1 2026 on record deposits and advances
Pan Asia Banking Corporation reports Rs. 1.65 bn PBT and Rs. 1.05 bn PAT in Q1 2026, with the highest-ever quarterly growth in deposits and advances.
Business
SLT-MOBITEL Q1 profit surges 53% as broadband revenue powers turnaround
SLT-MOBITEL group profit after tax jumped 53.3% to Rs.3.1 billion in Q1 2026 as broadband demand and reversed FX losses drove a double-digit revenue rise.
Business
THASL Calls for Ban on Listing Unregistered Properties on Agoda, Booking.com
THASL wants a legal amendment limiting Agoda, Booking.com and Expedia to SLTDA-registered properties, citing unfair tax burden on the formal sector.
Business
Tourism industry opposes new Tourism Act, urges amendment of existing SLTDA law
THASL President Asoka Hettigoda and CEO Priantha Fernando warn that drafting a new tourism law could take two years and create redundant bureaucracy.
Business
Sri Lanka imposes 50% surcharge on imported vehicles for three months
An extraordinary gazette signed by President Anura Kumara Dissanayake imposes a 50% surcharge on customs import duty for vehicles from 16 May for three months.
Business
Weak Low Grown crop drags April tea production down 8.5%
Sri Lanka's tea output fell sharply in April with weak Low Grown performance, dry weather and reduced smallholder fertiliser use weighing on the national crop.
Business
Cutting inflation target to 2% would force growth-killing tightening, says Governor Weerasinghe
CBSL Governor tells COPF that reducing the 5% inflation target to 2% would require sharp rate hikes that compromise growth, ahead of the August renewal.
Business
Central Bank launches online complaint portal for financial consumers
CBSL has launched a 24/7 online Complaint Management System at reachus.cbsl.lk for consumers to escalate unresolved grievances against regulated providers.
Business
CEB Voluntary Retirement Compensation Payments Begin; Rs.8.9 Billion Set Aside for 1,600 Former Employees
Payments to former CEB voluntary-retirement employees began May 15, with Rs.8.9 billion set aside for nearly 1,600 staff, the Energy Ministry said.
Business
CSE closes flat Friday; ASPI inches up to 22,905 as Dialog leads gainers
Colombo's All Share Price Index added 6.22 points to 22,905 on Friday but ended the week 115 points lower. Turnover Rs.2.84bn, led by capital goods.
Business
Customs revenue tops Rs. 1.18 trillion; April sets monthly record at Rs. 236.5 billion
Sri Lanka Customs collected Rs. 236.5 billion in April alone — the highest monthly intake to date — pushing 2026 revenue past Rs. 1.18 trillion.
Business
Dialog Axiata Q1 2026 net profit more than doubles to Rs. 9.2 billion
Sri Lanka's largest listed telecom posted a 122.3% jump in Q1 2026 net profit to Rs.9.2bn, with revenue up 9.2% and an interim dividend of Rs.0.70 proposed.
Business
First Capital warns Sri Lanka risks Jamaica-style lost decade if growth stays sluggish
First Capital Research lays out three post-restructuring paths and warns the Treasury Single Account transition under the PFMA could choke private credit.
Business
Govt weighs ending odd-even fuel system, QR-code distribution under review
PM committee considers replacing odd-even rationing with a QR-code fuel distribution scheme; stocks confirmed secured through August 2026.
Business
IMF Spokesperson Declines Direct Comment on Rs.100 Diesel Subsidy, Reiterates Cost-Recovery Requirement
IMF Communications Director Julie Kozack would not be drawn on Sri Lanka's Rs.100 diesel subsidy but said the EFF programme requires cost-recovery fuel.
Business
Potuhera–Rambukkana expressway stretch to open by March 2027; Ruwanpura construction to restart
Potuhera–Rambukkana expressway opens March 2027; Ruwanpura and Galagedara projects set to restart.
Business
CBSL dollar rate hits Rs. 331.15 as economist, Dilith Jayaweera warn of cascading effects
Sri Lanka's CBSL selling rate hit a December 2023 high on Friday, with analysts and Sarvajana Balaya MP Dilith Jayaweera warning of an unprecedented slide.