Category: Lead Story
PUCSL Excludes Coal Quality Costs from Tariff Revisions
The Public Utilities Commission of Sri Lanka (PUCSL) has announced that additional costs arising from coal quality will not be factored into future electricity tariff revisions. In its latest decision, the Commission emphasized that only reasonable costs directly related to the generation, transmission, and distribution of electricity will be considered when revising tariffs. PUCSL clarified […]
NDB continues to operate with capital & liquidity levels well above minimum regulatory requirements: CBSL
The Central Bank of Sri Lanka (CBSL) says it has been closely monitoring developments at National Development Bank PLC (NDB) following the recent disclosure of an internal fraud. According to CBSL, assessments carried out so far show that NDB continues to operate with capital and liquidity levels well above the minimum regulatory requirements. The incident […]
IMF Staff Reaches Staff-Level Agreement on the Combined Fifth and Sixth Reviews under Sri Lanka’s EFF Arrangement
An International Monetary Fund (IMF) mission team led by Mr. Evan Papageorgiou visited Sri Lanka from March 26 to April 9, 2026, to discuss recent macroeconomic developments and progress in implementing economic and financial policies under the Extended Fund Facility (EFF) arrangement. At the end of the mission, Mr. Papageorgiou issued the following statement: “IMF […]
HIP Expands Capacity as Middle East Crisis Drives Surge in Shipping Volumes
Hambantota International Port (HIP) has significantly expanded its operational capacity in response to a sharp surge in global shipping volumes triggered by the ongoing crisis in the Middle East, reinforcing its position as a key alternative hub along the East–West shipping corridor. The port has doubled its Roll-on/Roll-off (RoRo) yard capacity and increased its container […]
Sri Lanka and World Bank Group Launch New Partnership to Create Jobs, Attract Private Investment
The World Bank Group and the Government of Sri Lanka today launched a new five-year Country Partnership Framework (CPF) to support Sri Lanka’s continued recovery, help achieve its 7% medium-term economic growth target, and support job creation. “We are committed to building on the continued macroeconomic stability, strengthened governance and revenue-based fiscal consolidation that we have already […]
Ceylon Chamber Highlights Importance of Balanced Tax Policy in Inland Revenue (Amendment) Bill 2026
The Ceylon Chamber of Commerce, through its Tax Steering Committee, has actively engaged with stakeholders on the proposed Inland Revenue (Amendment) Bill of 2026, recognising its potential implications for businesses and the broader economy. While acknowledging the importance of updating the tax framework, the Chamber’s efforts have focused on assessing the impact of the proposed […]
Hambantota Intl Port Invests USD 108 Mn in New Cranes; Expands Container Terminal Capacity To 2 Mn TEU
Hambantota International Port Group (HIPG) has signed an agreement to invest USD 108 million in new container handling equipment, marking a major expansion of its container terminal capacity and reinforcing Sri Lanka’s position as an emerging logistics hub in the Indian Ocean. The agreement, signed at a ceremony held at the Hilton Colombo on March […]
Sri Lanka’s Total Export Earnings Hit $1.4 Billion in February, Up 4.22% YoY
Sri Lanka’s total exports, including both merchandise and services, reached US$ 1,401.78 million in February 2026, reflecting a notable year-on-year growth of 4.22% compared to February 2025. According to provisional data from Sri Lanka Customs, along with estimated figures for Gems & Jewellery and Petroleum Products, merchandise exports for February 2026 increased by 1.32% to […]
Iran Pledges Oil Support to Sri Lanka as Colombo Seeks Alternative Supplies
The Ambassador of Iran to Sri Lanka today reaffirmed Tehran’s willingness to support Colombo with energy supplies, even as Sri Lanka turns to other markets amid ongoing global tensions and sanctions-related constraints. At a press briefing, the ambassador was asked whether Iran would step in to assist Sri Lanka in the event of an oil […]
IMF Team Set to Visit Colombo for Crucial Dual Review
The International Monetary Fund (IMF) has confirmed that a staff team led by Mission Chief Evan Papageorgiou will visit Colombo from March 26 to April 9, 2026. This mission is designed to facilitate high-level discussions with Sri Lankan authorities regarding the nation’s ongoing economic recovery and policy trajectory. The visit marks a critical juncture for […]
Sri Lanka’s Economy Hits 5% Growth in 2025; 4.8% Expansion in Q4
The Department of Census and Statistics (DCS) of Sri Lanka has reported a 5.0% GDP growth rate for 2025, with the economy expanding to Rs. 13,128,577 million at constant prices. This positive momentum was supported by a final fourth-quarter growth rate of 4.8%. In nominal terms, the GDP at current prices rose by 8.8% to […]
Macrofinancial Strength Drives Credit Surge in 2025, But Risks Loom: CBSL
Sri Lanka’s macrofinancial conditions strengthened throughout 2025, fueling a major expansion in credit despite persistent external vulnerabilities. According to recent year-end data, the financial sector has shifted its focus heavily toward the private sector, supported by a broad-based recovery and accommodative monetary policy. The banking sector saw credit growth accelerate to 21.4% year-on-year by the […]