Business
Minority shareholder files derivative action against NDB and Ernst & Young in Commercial High Court
Minority shareholder sues NDB, external auditors Ernst & Young and E&Y partners in Commercial High Court; order reserved for May 13.
Business
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Business
Rayynor lifts Seylan Bank stake to 10% with fresh Rs. 1.2 billion investment
Media owner Rayynor Silva's Phantom Investments adds 12 million Seylan shares at Rs. 104 each, marking a fresh push into the lender after Phantom's NDB exit.
Business
Rupee slips to 322.25 Tuesday as Rs. 250bn bond auction proceeds; CSE closes flat
Sri Lanka's rupee weakened to 322.25 against the dollar; bond yields steady ahead of a Rs. 250bn auction; CSE ASPI closed flat at 23,015 on Tuesday.
Business
Government to give small-scale tea growers additional fertilizer subsidy as global import costs rise
Plantations Minister Samantha Vidyaratne said the Treasury has funded an extra fertilizer subsidy for small tea growers amid rising shipping costs.
Business
Bankruptcy bill's tax priority for state questioned at parliamentary committee
Advocata's Murtaza Jafferjee told COPF the IRD should not stand ahead of other creditors when a company restructures, saying private lenders take equal risk.
Business
US clears Sri Lanka blue swimming crab exports until 2029 under Marine Mammal Protection Act
NOAA reverses November 2025 ban after finding Sri Lanka's crab harvesting practices 'comparable in effectiveness' to American marine mammal standards.
Business
Sri Lanka to pay Rs. 8.5 billion CEB voluntary retirement compensation to 1,896 ex-employees
Energy Minister Anura Karunathilaka says Treasury will fund 100% for some successor companies and 50% for NSO and Transmission Network staff.
Business
Colombo Port records 22% growth in container throughput in April
Port of Colombo handled 761,096 TEUs in April, up 22% YoY; Jan-April cumulative throughput hit 2.92 million TEUs, a 13.9% increase.
Business
CSE eases from record close as ASPI ends at 23,011 on May 11
ASPI fell 0.23% to 23,011.72 with banks leading turnover at Rs.3.04bn of the Rs.4.92bn total; Ceylinco Insurance and Commercial Bank weighed.
Business
Durga Infra raises Hatton Plantations stake to 12.5% with Rs. 262 mn share purchase
Durga Infra Ltd has lifted its Hatton Plantations PLC stake to 12.5% after buying 10.25 million shares at Rs. 25.60 per share on May 6, 2026.
Business
Karunathilaka: only 7.29% of consumers hit by new tariffs as generation costs jump Rs. 27bn
Energy Minister says 6.43m households using under 180 units are exempt; diesel costs jumped from Rs. 417m to Rs. 6,257m forcing the 18% PUCSL request.
Business
LAUGFS Power commissions 2MW mini hydro plant at Ginigathhena
The Polpitiya plant, developed through subsidiary PAMS Power, was synchronised with the national grid in late March and formally acknowledged on April 29.
Business
NDB disposes Rs. 2.77 billion Seylan Bank stake; Rayynor Silva's Phantom Investments hits maximum limit
NDB exited its 26.6 million-share holding in Seylan Bank at Rs. 104 per share, with media owner Rayynor Silva's Phantom Investments taking up the block.
Business
Private sector credit surges Rs. 258b in March; up 27.1% YoY to Rs. 10.7 trillion
Private sector borrowings jumped Rs. 258.4b month-on-month — second highest in 12 months — as Q1 outstanding credit hit Rs. 10.7 trillion.
Business
Rupee closes weaker at 322 to the dollar on Monday; bond yields broadly steady
Spot rupee slipped from 321.70 to 322.00 against the dollar — a 4% YTD slide from Dec 30, 2025. Rs. 250bn bond and Rs. 80bn bill auctions due this week.
Business
Sri Lanka records Rs. 545b primary surplus in January-February as budget swings to surplus
Primary surplus rose 66.1% YoY to Rs. 545.4 billion; overall budget turned to Rs. 169.7 billion surplus from a Rs. 86.6 billion deficit a year earlier.
Business
No decision yet on water tariff revision, June review will decide — Minister Ranasinghe
Water Supply Minister Susil Ranasinghe says biannual review on June 30 will determine any change to household water bills.
Business
Sri Lanka's Central Bank turns net dollar seller in April; reserves dip below US$7 billion
CBSL turned net dollar seller in April for the first time since June 2024, as reserves slipped back below US$7 billion to US$6.76 billion.
Business
Electricity tariffs rise from Monday; trade unions warn 60,000 businesses hit
PUCSL's revised tariffs take effect May 11. A 210-unit household bill rises Rs. 1,760; trade unions say 60,000 businesses face squeeze and demand reversal.
Business
CAA seals Homagama factory over substandard 6mm steel bars without SLS certification
Consumer Affairs Authority sealed a Homagama Industrial Zone factory producing 6mm ribbed steel bars without the mandatory SLS 375 certification.
Business
JAAF says Sri Lanka must learn from Vietnam's 19-FTA apparel playbook
Vietnam's apparel exports grew 250% to $45bn while Sri Lanka's grew just 58% to $5.4bn, JAAF says, calling for a ministry-level FTA negotiation architecture.
Business
Government Begins Rs. 220/kg Potato Buy-Back Drive in Nuwara Eliya
Trade Ministry buys local potatoes at Rs. 220/kg via Blackpool co-op, capped at 1,000 kg per farmer; onward sales through Lanka Sathosa.
Business
PUCSL approves electricity tariff hike of 8% to 18% from Monday
PUCSL's Q2-Q3 tariff revision takes effect Monday. Households below 180 units are exempt; others face 8% to 18% increases offset by a Rs.15bn subsidy.
Business
EU and UNIDO launch €7.56 mn net-zero roadmap for Sri Lanka apparel sector
EU-funded AICRSL initiative will develop a Net-Zero Roadmap for Sri Lanka's textile and apparel sector — 40.7% of merchandise exports and 31.3% EU-bound.