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

Oct 31, 2026 1 week 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…

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

Oct 31, 2026 1 week 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 1 week 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…

Binance Hit by Record US$6.3 Billion Crypto Theft as Analysts Point to North Korea

Oct 31, 2026 1 week ago 3 min read
Binance Hit by Record US$6.3 Billion Crypto Theft as Analysts Point to North Korea

SINGAPORE, October 31, 2026 — Binance has suffered a US$6.3 billion cryptocurrency theft, prompting the world’s largest crypto exchange to suspend withdrawals and pledge to…

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

Oct 30, 2026 1 week 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…

Sri Lanka’s Official Reserves Top US$7 Billion in October, Rising 3.2%

COLOMBO, November 7, 2026 — Sri Lanka’s official reserve assets rose to US$7.086 billion at the end of October 2026,…

BIZ BREAKING

EDB Appoints 24 Export Advisory Committees to Drive Sri Lanka’s US$36 Billion Export Target

Oct 9, 2026 4 weeks ago 4 min read
EDB Appoints 24 Export Advisory Committees to Drive Sri Lanka’s US$36 Billion Export Target

Minister Sunil Handunnetti, EDB Chairman Mangala Wijesinghe COLOMBO, October 9, 2026 — Sri Lanka has established 24 export advisory committees for 2026–2029 to help remove regulatory barriers, improve business competitiveness and accelerate progress towards its ambitious target of generating US$36 billion…

CBSL Survey Tracks Financial Sector Risks and Confidence in Sri Lanka’s Financial System

Oct 8, 2026 1 month ago 2 min read
CBSL Survey Tracks Financial Sector Risks and Confidence in Sri Lanka’s Financial System

COLOMBO, October 8, 2026 — The Central Bank of Sri Lanka (CBSL) has released the key findings of its Systemic Risk Survey (SRS) for the second half of 2026, providing an updated assessment of how financial market participants view risks…

BOI Accelerates Northern Province Investment Drive with Two New Export Processing Zones

Oct 7, 2026 1 month ago 4 min read
BOI Accelerates Northern Province Investment Drive with Two New Export Processing Zones

JAFFNA, October 7, 2026 — The Board of Investment of Sri Lanka (BOI) is accelerating plans to transform the Northern Province into a new investment and export hub, with the proposed Export Processing Zones (EPZs) at Paranthan and Kankesanthurai (KKS)…

Sri Lanka, ADB Map Out Development Priorities for 2026–2029

Oct 6, 2026 1 month ago 2 min read
Sri Lanka, ADB Map Out Development Priorities for 2026–2029

COLOMBO, October 6, 2026 — Sri Lanka and the Asian Development Bank (ADB) have begun discussions on a multi-year development programme for 2026–2029, with the government seeking to prioritise projects that can accelerate economic development while supporting fiscal targets and…

BUSINESS

Sungrow Commissions Sri Lanka’s 10 MW/40 MWh Battery Storage Project in Galle

Oct 12, 2026 4 weeks ago 5 min read
Sungrow Commissions Sri Lanka’s 10 MW/40 MWh Battery Storage Project in Galle

GALLE, October 12, 2026 — Global renewable energy technology supplier Sungrow has commissioned a 10 MW/40 MWh battery energy storage system (BESS) developed by WKV…

JETOUR Expands Sri Lankan Footprint with Second Showroom at Colombo City Centre

Oct 11, 2026 4 weeks ago 2 min read
JETOUR Expands Sri Lankan Footprint with Second Showroom at Colombo City Centre

COLOMBO, October 11, 2026 — Chinese automotive brand JETOUR is expanding its retail presence in Sri Lanka with the opening of its second showroom at…

Sri Lankan Exporters Secure US$50,000 in Orders at Maldives Trade Exhibition, Negotiate Further US$150,000

Oct 9, 2026 4 weeks ago 3 min read
Sri Lankan Exporters Secure US$50,000 in Orders at Maldives Trade Exhibition, Negotiate Further US$150,000

COLOMBO, October 9, 2026 — Sri Lankan exporters have secured approximately US$50,000 in confirmed orders and are negotiating a further US$150,000 in potential business following…

Prime Expands Sri Lankan Real Estate’s Global Reach, Driving FDI and Foreign Currency Inflows

Oct 8, 2026 1 month ago 3 min read
Prime Expands Sri Lankan Real Estate’s Global Reach, Driving FDI and Foreign Currency Inflows

MELBOURNE, October 8, 2026 — Prime Group is strengthening Sri Lanka’s position as an international real estate investment destination, following recognition for its contribution to…

ECONOMY

CBSL Holds Policy Rate at 8.75% as Inflation and External Risks Persist

Sep 30, 2026 1 month ago 4 min read
CBSL Holds Policy Rate at 8.75% as Inflation and External Risks Persist

COLOMBO, September 30, 2026 — The Central Bank of Sri Lanka (CBSL) has kept its Overnight Policy Rate (OPR) unchanged at 8.75%, opting to maintain…

Rupee Weakens Against Dollar as Selling Rates Move Towards Rs. 335

Sep 28, 2026 1 month ago 2 min read
Rupee Weakens Against Dollar as Selling Rates Move Towards Rs. 335

COLOMBO, September 28, 2026 — The Sri Lankan Rupee weakened further against the US Dollar at several commercial banks today, with dollar selling rates moving…

Fitch Upgrade Signals Improving Confidence in Sri Lanka’s Post-Crisis Economy

Sep 27, 2026 1 month ago 4 min read
Fitch Upgrade Signals Improving Confidence in Sri Lanka’s Post-Crisis Economy

COLOMBO, September 27, 2026 — Sri Lanka’s latest sovereign credit-rating upgrade by Fitch Ratings is strengthening the country’s position in international financial markets, marking another…

Expressway Revenue Loss Tops Rs. 4.6 Billion as Audit Flags Major Financial and Control Gaps

Sep 25, 2026 1 month ago 4 min read
Expressway Revenue Loss Tops Rs. 4.6 Billion as Audit Flags Major Financial and Control Gaps

COLOMBO, September 25, 2026 — Sri Lanka’s expressway network suffered more than Rs. 4.6 billion in revenue losses over a period of four years and…

MARKETS

CSE Snaps Six-Session Losing Streak as Buying Interest Improves

Oct 2, 2026 1 month ago 3 min read
CSE Snaps Six-Session Losing Streak as Buying Interest Improves

COLOMBO, October 2, 2026 — The Colombo Stock Exchange snapped a six-session losing streak on Thursday, with both benchmark indices closing higher as buying interest…

CSE Indices Close Lower as Turnover Tops Rs. 1.6 Billion

Oct 1, 2026 1 month ago 2 min read
CSE Indices Close Lower as Turnover Tops Rs. 1.6 Billion

COLOMBO, October 1, 2026 — Sri Lanka’s stock market closed lower, with both benchmark indices ending in negative territory as price declines in key counters…

CSE Slips Below 21,000 as Turnover Hits Year-to-Date Low

Sep 29, 2026 1 month ago 3 min read
CSE Slips Below 21,000 as Turnover Hits Year-to-Date Low

COLOMBO, September 28, 2026 — The Colombo Stock Exchange started the week under pressure, with the benchmark ASPI falling below the 21,000 level as broad-based…

CSE Ends Lower as Dialog Axiata and Richard Pieris Weigh on Indices

Sep 25, 2026 1 month ago 3 min read
CSE Ends Lower as Dialog Axiata and Richard Pieris Weigh on Indices

COLOMBO, September 25, 2026 — Sri Lankan equities ended the session in negative territory as selling pressure on key counters including Dialog Axiata, Richard Pieris…

NATION

Sri Lanka-Thailand Visa-Free Travel Agreement Gets Cabinet Approval

Oct 6, 2026 1 month ago 2 min read
Sri Lanka-Thailand Visa-Free Travel Agreement Gets Cabinet Approval

COLOMBO, October 6, 2026 — The Cabinet of Ministers has approved a proposal to sign a visa exemption agreement between Sri Lanka and Thailand, allowing…

Energy Ministry Orders Companies to Maintain Minimum Fuel Stocks

Oct 6, 2026 1 month ago 2 min read
Energy Ministry Orders Companies to Maintain Minimum Fuel Stocks

COLOMBO, October 6, 2026 — Sri Lanka’s Energy Ministry has instructed relevant companies to maintain minimum fuel stock levels to ensure uninterrupted availability of petroleum…

Multilac Upgrades Colombo Municipal Council Day Care Centre for Children’s Day

Oct 5, 2026 1 month ago 2 min read
Multilac Upgrades Colombo Municipal Council Day Care Centre for Children’s Day

COLOMBO, October 5, 2026 — Multilac has completed a series of facility improvements at the Colombo Municipal Council Day Care Centre as part of a…

Govt. Targets Digital Connectivity for All Secondary Schools by Year-End: PM

Oct 4, 2026 1 month ago 3 min read
Govt. Targets Digital Connectivity for All Secondary Schools by Year-End: PM

COLOMBO, October 4, 2026 — The Government is working to provide digital connectivity to secondary schools across Sri Lanka by the end of this year,…

world

China’s Deflationary Pressures Deepen as Domestic Demand Remains Weak

Oct 6, 2026 1 month ago 3 min read
China’s Deflationary Pressures Deepen as Domestic Demand Remains Weak

BEIJING, October 6, 2026 — China’s economic recovery is facing mounting pressure as weak domestic demand, persistent industrial overcapacity and a prolonged property downturn continue…

Trump Says Iran Has ‘Virtually Given Up’ Plans for Nuclear Weapons

Oct 4, 2026 1 month ago 3 min read
Trump Says Iran Has ‘Virtually Given Up’ Plans for Nuclear Weapons

WASHINGTON, October 4, 2026 — US President Donald Trump has said Iran has “virtually given up” plans to develop nuclear weapons, offering a potentially significant…

UAE Says Flydubai Co-Pilot Attacked Captain in Suspected Terror Plot

Oct 3, 2026 1 month ago 2 min read
UAE Says Flydubai Co-Pilot Attacked Captain in Suspected Terror Plot

DUBAI, October 3, 2026 — The United Arab Emirates has said a Flydubai co-pilot allegedly attempted to carry out a terrorist attack aboard a flight…

India Approves $19 Billion Programme to Expand Renewable Energy Grid

Oct 2, 2026 1 month ago 3 min read
India Approves $19 Billion Programme to Expand Renewable Energy Grid

NEW DELHI, October 2, 2026 — India’s Cabinet has approved a Rs. 1.86 trillion (US$19.42 billion) investment programme to strengthen the country’s power transmission network…