CAL Signs Deal to Acquire 51% of Hong Kong Fund Manager Asia Frontier Capital

Nov 3, 2026 53 minutes ago 3 min read
CAL Signs Deal to Acquire 51% of Hong Kong Fund Manager Asia Frontier Capital

COLOMBO, November 3, 2026 — Capital Alliance Holdings PLC (CAL) has signed an agreement to acquire a 51% stake in Hong Kong-based fund manager Asia…

Hayleys Solar Inaugurates Two Kosgama Projects with Combined Capacity of 5 MW

Nov 3, 2026 1 hour ago 2 min read
Hayleys Solar Inaugurates Two Kosgama Projects with Combined Capacity of 5 MW

COLOMBO, November 3, 2026 — Hayleys Solar has inaugurated two ground-mounted solar power projects in Kosgama with a combined capacity of 5 MW, expanding its…

Fuel Import Costs Up 50%, Limiting Price Relief Despite Rs. 57 Billion Subsidy Allocation: Minister

Nov 3, 2026 5 hours ago 2 min read
Fuel Import Costs Up 50%, Limiting Price Relief Despite Rs. 57 Billion Subsidy Allocation: Minister

COLOMBO, November 3, 2026 — Sri Lanka’s fuel import costs have increased by approximately 50% compared with last year, limiting the government’s ability to provide…

Oil Prices Rise After Reported US Strike on Iran’s Qeshm Island

Nov 3, 2026 5 hours ago 2 min read
Oil Prices Rise After Reported US Strike on Iran’s Qeshm Island

COLOMBO, November 3, 2026 — Oil prices edged higher in early Asian trading on Tuesday after a report of US strikes on Iran’s Qeshm Island…

Sri Lanka’s Exports Hit Record US$1.38 Billion, but September Current Account Posts US$128 Million Deficit

Nov 2, 2026 24 hours ago 3 min read
Sri Lanka’s Exports Hit Record US$1.38 Billion, but September Current Account Posts US$128 Million Deficit

COLOMBO, November 2, 2026 — Sri Lanka recorded its highest-ever monthly merchandise export earnings of US$1.377 billion in September 2026, but the external current account…

CAL Signs Deal to Acquire 51% of Hong Kong Fund Manager Asia Frontier Capital

COLOMBO, November 3, 2026 — Capital Alliance Holdings PLC (CAL) has signed an agreement to acquire a 51% stake in…

BIZ BREAKING

CAL Signs Deal to Acquire 51% of Hong Kong Fund Manager Asia Frontier Capital

Nov 3, 2026 53 minutes ago 3 min read
CAL Signs Deal to Acquire 51% of Hong Kong Fund Manager Asia Frontier Capital

COLOMBO, November 3, 2026 — Capital Alliance Holdings PLC (CAL) has signed an agreement to acquire a 51% stake in Hong Kong-based fund manager Asia Frontier Capital Ltd. (AFC), advancing its international expansion and broadening its frontier-market investment platform. The…

Sri Lanka’s Exports Hit Record US$1.38 Billion, but September Current Account Posts US$128 Million Deficit

Nov 2, 2026 24 hours ago 3 min read
Sri Lanka’s Exports Hit Record US$1.38 Billion, but September Current Account Posts US$128 Million Deficit

COLOMBO, November 2, 2026 — Sri Lanka recorded its highest-ever monthly merchandise export earnings of US$1.377 billion in September 2026, but the external current account returned to a deficit of US$128 million following August’s surplus. Merchandise exports increased by 21.0%…

Fitch Upgrades BOC, People’s Bank and Commercial Bank; Downgrades Cargills Bank

Oct 31, 2026 3 days ago 3 min read
Fitch Upgrades BOC, People’s Bank and Commercial Bank; Downgrades Cargills Bank

COLOMBO, October 31, 2026 — Fitch Ratings has upgraded the National Long-Term Ratings of Bank of Ceylon, People’s Bank and Commercial Bank, while downgrading Cargills Bank, following a recalibration of Sri Lanka’s national rating scale after the sovereign’s recent upgrade.…

Union Bank’s Nine-Month Profit After Tax More Than Doubles to Rs. 701 Million

Oct 30, 2026 4 days ago 2 min read
Union Bank’s Nine-Month Profit After Tax More Than Doubles to Rs. 701 Million

COLOMBO, October 30, 2026 — Union Bank reported a 104% increase in profit after tax to Rs. 701 million for the nine months ended September 30, 2026, while profit before all taxes rose by 48% to Rs. 1.744 billion, supported…

BUSINESS

Hayleys Solar Inaugurates Two Kosgama Projects with Combined Capacity of 5 MW

Nov 3, 2026 1 hour ago 2 min read
Hayleys Solar Inaugurates Two Kosgama Projects with Combined Capacity of 5 MW

COLOMBO, November 3, 2026 — Hayleys Solar has inaugurated two ground-mounted solar power projects in Kosgama with a combined capacity of 5 MW, expanding its…

Home Lands Showcases Sri Lankan Property Investment Opportunities in Ottawa

Nov 2, 2026 1 day ago 1 min read
Home Lands Showcases Sri Lankan Property Investment Opportunities in Ottawa

COLOMBO, November 2, 2026 — Home Lands has showcased Sri Lankan real estate investment opportunities at a property investment roadshow in Ottawa, Canada, engaging prospective…

Sri Lanka Launches AgriConnect with US$665 Million in Investment Backing to Support Farmers and Agribusinesses

Oct 30, 2026 4 days ago 3 min read
Sri Lanka Launches AgriConnect with US$665 Million in Investment Backing to Support Farmers and Agribusinesses

COLOMBO, October 30, 2026 — Sri Lanka has launched the AgriConnect Joint Implementation Plan with the World Bank Group and the International Fund for Agricultural…

Japan Grants Rs. 4.56 Billion for Kelani River Pumping Project to Protect Businesses and Communities

Oct 29, 2026 5 days ago 2 min read
Japan Grants Rs. 4.56 Billion for Kelani River Pumping Project to Protect Businesses and Communities

COLOMBO, October 29, 2026 — Japan has agreed to provide JPY 2.179 billion, approximately Rs. 4.56 billion, in grant assistance for a Kelani River pumping…

ECONOMY

CPC Raises Petrol and Diesel Prices; Lanka IOC Matches Two Fuel Rates

Nov 2, 2026 1 day ago 1 min read
CPC Raises Petrol and Diesel Prices; Lanka IOC Matches Two Fuel Rates

COLOMBO, November 2, 2026 — The Ceylon Petroleum Corporation (CPC) has increased petrol and diesel prices, effective from midnight on November 1, while leaving kerosene…

Apparel Exports Rise 3.47% in September, but Nine-Month Earnings Remain 5.52% Lower

Oct 30, 2026 4 days ago 3 min read
Apparel Exports Rise 3.47% in September, but Nine-Month Earnings Remain 5.52% Lower

COLOMBO, October 30, 2026 — Sri Lanka’s apparel exports increased by 3.47% year-on-year to US$416.99 million in September, supported by stronger shipments to the United…

World Bank Forecasts 23% Rise in Commodity Prices as Energy and Food Costs Climb

Oct 29, 2026 5 days ago 4 min read
World Bank Forecasts 23% Rise in Commodity Prices as Energy and Food Costs Climb

COLOMBO, October 29, 2026 — Global commodity prices are projected to increase by 23% in 2026, with rising energy costs, disrupted trade and threats to…

Cabinet Clears US$100 Million ADB Loan Agreement for Economic Recovery Programme

Oct 28, 2026 6 days ago 2 min read
Cabinet Clears US$100 Million ADB Loan Agreement for Economic Recovery Programme

COLOMBO, October 28, 2026 — The Cabinet of Ministers has approved entering into a US$100 million loan agreement with the Asian Development Bank (ADB) to…

MARKETS

ASPI Falls 10.97% in Ten Months as October Wipes Rs. 441 Billion Off Market Value

Nov 2, 2026 1 day ago 1 min read
ASPI Falls 10.97% in Ten Months as October Wipes Rs. 441 Billion Off Market Value

COLOMBO, November 2, 2026 — Sri Lanka’s benchmark All Share Price Index (ASPI) declined by 10.97% during the first ten months of 2026, while the…

CSE Recovery Enters Third Session as ASPI Jumps 297 Points Above 20,250

Oct 30, 2026 4 days ago 2 min read
CSE Recovery Enters Third Session as ASPI Jumps 297 Points Above 20,250

COLOMBO, October 30, 2026 — The Colombo Stock Exchange extended its recovery for a third consecutive session on October 29, with broad-based buying lifting the…

Colombo Stocks Rise as Banking and Telecom Gains Lift Turnover Above Rs. 2.2 Billion

Oct 29, 2026 5 days ago 2 min read
Colombo Stocks Rise as Banking and Telecom Gains Lift Turnover Above Rs. 2.2 Billion

COLOMBO, October 29, 2026 — Colombo stock market indices closed higher, supported by price gains in Commercial Bank, Dialog Axiata and Hatton National Bank, while…

CSE Targets Record Rs. 200 Billion in Capital Raising as New Investment Products Take Shape

Oct 28, 2026 6 days ago 4 min read
CSE Targets Record Rs. 200 Billion in Capital Raising as New Investment Products Take Shape

COLOMBO, October 28, 2026 — Capital raised through the Colombo Stock Exchange (CSE) could reach a record Rs. 200 billion this year, Chief Executive Officer…

NATION

Fuel Import Costs Up 50%, Limiting Price Relief Despite Rs. 57 Billion Subsidy Allocation: Minister

Nov 3, 2026 5 hours ago 2 min read
Fuel Import Costs Up 50%, Limiting Price Relief Despite Rs. 57 Billion Subsidy Allocation: Minister

COLOMBO, November 3, 2026 — Sri Lanka’s fuel import costs have increased by approximately 50% compared with last year, limiting the government’s ability to provide…

Centrum Air Connects Tashkent and Mattala with Twice-Weekly Direct Flights

Oct 30, 2026 4 days ago 3 min read
Centrum Air Connects Tashkent and Mattala with Twice-Weekly Direct Flights

COLOMBO, October 30, 2026 — Uzbekistan’s Centrum Air has introduced direct scheduled flights between Tashkent and Mattala Rajapaksa International Airport, expanding Sri Lanka’s connections with…

Central Bank Names 27 Prohibited Scheme Entries, Warns Public Over Companies and Apps

Oct 29, 2026 5 days ago 2 min read
Central Bank Names 27 Prohibited Scheme Entries, Warns Public Over Companies and Apps

COLOMBO, October 29, 2026 — The Central Bank of Sri Lanka (CBSL) has listed 27 entries covering companies, mobile applications and related entities determined to…

President Orders Faster Completion of Katunayake Airport Capacity Expansion Projects

Oct 28, 2026 6 days ago 2 min read
President Orders Faster Completion of Katunayake Airport Capacity Expansion Projects

COLOMBO, October 28, 2026 — President Anura Kumara Dissanayake has directed officials to accelerate projects aimed at increasing passenger capacity and improving facilities at Katunayake…

world

Oil Prices Rise After Reported US Strike on Iran’s Qeshm Island

Nov 3, 2026 5 hours ago 2 min read
Oil Prices Rise After Reported US Strike on Iran’s Qeshm Island

COLOMBO, November 3, 2026 — Oil prices edged higher in early Asian trading on Tuesday after a report of US strikes on Iran’s Qeshm Island…

Tucker Carlson Warns of Possible Nuclear Strike on Iran Within Days — Markets and Energy Supply at Risk.

Nov 2, 2026 1 day ago 5 min read
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Tucker Carlson claimed early Monday that the Trump administration is under intense pressure from Israeli Prime Minister Benjamin Netanyahu to launch a nuclear strike on…

Oil Hits Six-Month High as Hormuz Tanker Attack Deepens Iran Escalation Fears

Oct 31, 2026 3 days ago 3 min read
Oil Hits Six-Month High as Hormuz Tanker Attack Deepens Iran Escalation Fears

COLOMBO, October 31, 2026 — Oil prices rose more than 2% on Friday to their highest closing levels since late April, as a tanker attack…

Binance Reserves US$6.34 Billion to Cover Losses as Partners Freeze US$3 Billion in Crypto

Oct 31, 2026 3 days ago 2 min read
Binance Reserves US$6.34 Billion to Cover Losses as Partners Freeze US$3 Billion in Crypto

SINGAPORE, October 31, 2026 — Binance says it has reserved more than US$6.34 billion in company funds to cover user losses following its recent security…