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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 […]
Fitch Downgrades National Development Bank’s National Rating to ‘A-(lka)’; Outlook Negative
Fitch Ratings has downgraded National Development Bank PLC’s (NDB) National Long-Term Rating to ‘A-(lka)’ from ‘A(lka)’. The Outlook is Negative. Fitch has also downgraded the rating assigned to NDB’s Basel III-compliant subordinated debentures to ‘BBB(lka)’ from ‘BBB+(lka)’. Key Rating Drivers Fraud Elevates Credit Profile Risks: The downgrade reflects NDB’s weakened credit profile relative to that […]
IMF warns Middle East shock could hit Sri Lanka growth, backs targeted relief as tariffs rise
The International Monetary Fund has warned that escalating geopolitical tensions in the Middle East pose a significant risk to Sri Lanka’s economic recovery, even as authorities move ahead with price reforms and fiscal adjustments. The IMF said the evolving crisis could impact key external sectors including exports, remittances, tourism and connectivity, describing it as one […]
Middle East conflict threatens Sri Lanka recovery as inflation, tourism and reserves come under pressure
Sri Lanka’s economic recovery is facing renewed pressure as the escalating Middle East conflict begins to feed through to inflation, tourism, and external balances, the Asian Development Bank (ADB) said. The island entered 2026 from a position of relative strength, recording 5.0 percent growth in 2025, supported by broad-based expansion across services, industry, and agriculture. […]
Sri Lanka faces renewed economic risks despite recovery momentum, ADB says
Sri Lanka’s economic recovery is expected to continue into 2026, but fresh global and domestic risks are beginning to test its stability, according to the latest Asian Development Outlook (April 2026) by the Asian Development Bank (ADB). The report notes that while the country has moved past its worst crisis phase, growth is likely to […]
Committee on Public Finance Raises NDB Bank Fraud with Central Bank
The Committee on Public Finance (CoPF) met on 07th April 2026 under the chairmanship of Hon Member of Parliament Dr. Harsha de Silva. The Governor of the Central Bank of Sri Lanka (CBSL) Dr. Nandalal Weerasinghe, along with members of the Governing Board, the Monetary Policy Board, and senior officials, attended the meeting as part […]
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 […]
Kaspersky detects 14 million local malware incidents in Sri Lanka in 2025
Sri Lanka experienced 14,960,244 local malware incidents on user computers during 2025, with 37.4% of users in the country attacked by threats spread through removable USB drives, CDs, DVDs and other offline methods, according to the latest Kaspersky Security Bulletin. This places Sri Lanka in the 48th position worldwide for local threat exposure. The data […]
Ceylon Chamber of Commerce Announces Leadership Transition; Shiran Fernando Appointed Secretary General/CEO
The Ceylon Chamber of Commerce announces a planned and orderly leadership transition, underscoring its commitment to strong governance, leadership continuity, and long-term institutional stability. Accordingly, Mr. Shiran Fernando has been appointed Secretary General and Chief Executive Officer, effective 8th May 2026, succeeding Mr. Buwanekabahu Perera, who will conclude a three-year tenure at the helm of […]
Huawei IP Summit 2026 highlights AI-driven enterprise Datacom networks amidSri Lanka’s 5G evolution and Pre-Wi-Fi 8 advancements
Huawei recently hosted its Intelligent IP Summit 2026 in Sri Lanka, bringing together industry leaders and technology experts to explore the future of enterprise data communication (Datacom) networks, as organisations navigate rapid disruptions driven by AI and the expansion of 5G. The summit underscored the growing importance of enterprise networks as the foundation of digital […]
Sri Lanka’s first 100-pct enewable energy recycling center in plantation sector unveiled by the Coca-Cola Foundation
The first zero-emission Material Collection and Processing Facility in Sri Lanka was officially inaugurated under the SWYFT Project. This initiative is funded by The Coca-Cola Foundation (TCCF), implemented by Janathakshan, with Neptune Recyclers serving as the recycling partner, in collaboration with Talawakelle Plantation. The Somerset ECO Material Collection & Processing Center was officially opened on […]