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USS Tulsa Returns to Colombo for Scheduled Port Visit
USS Tulsa (LCS 16), an Independence-variant littoral combat ship, arrived at the Port of Colombo on October 7, receiving a warm welcome from Sri Lanka as the ship returns for its second visit in two years. The port call underscores the enduring U.S.–Sri Lanka maritime partnership and our shared commitment to maintaining peace, security, and […]
Fitch Rates Merchant Bank of Sri Lanka’s Proposed Subordinated Debt ‘BBB+(EXP)(lka)’
Fitch Ratings has assigned Merchant Bank of Sri Lanka & Finance PLC’s (MBSL, A(lka)/Stable) proposed Sri Lankan rupee-denominated subordinated listed debentures of up to LKR1 billion an expected National Long-Term Rating of ‘BBB+(EXP)(lka)’. The proposed debentures will mature in five years and will be listed on the Colombo Stock Exchange. The company plans to use […]
Sri Lanka’s Economy Reaches Pre-Crisis Levels but Recovery Uneven, says World Bank Group
Sri Lanka’s economy reached a significant milestone, reaching pre-crisis levels. But the recovery remains incomplete and uneven, with household incomes and labor market outcomes still lagging the broader economic rebound, says the World Bank Group in its twice-yearly economic outlook. Released today, the latest Sri Lanka Development Update, From Recovery to Transformation, projects Sri Lanka’s […]
Counterterrorism Bill Retains Abusive Powers; Won’t Meet Commitments to EU: Human Rights Watch
The Sri Lankan government’s latest attempt to replace its abusive Prevention of Terrorism Act (PTA) retains numerous provisions that have enabled serious human rights violations, Human Rights Watch said today. The proposed Protection of the State from Terrorism Bill (PSTB), which will be sent to Parliament on October 6, 2026, includes an overbroad definition of […]
PM Rings the Bell at CSE to Champion Financial Literacy and Investor Education
As part of World Investor Week (WIW) 2026, the Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) joined stock exchanges around the world in ringing the market opening bell for financial literacy on 5 October 2026, under the patronage of the Hon. Dr. Harini Amarasuriya, Prime Minister of the […]
Sampath Bank partners with Bancstac to Enable Google Pay Acceptance for Merchants
Sampath Bank now enables businesses to accept Google Pay over the Sampath Bank Internet Payment Gateway (IPG), powered by Bancstac. This innovation allows merchants to seamlessly offer Google Pay as a payment method, providing customers with a secure and frictionless biometric checkout experience using Android devices. An Immediate Revenue Driver for Merchants Participating merchants can […]
IMF Reaches Staff-Level Agreement on the Seventh Review under the Extended Fund Facility with Sri Lanka
Washington, DC: After constructive discussions, IMF Mission Chief for Sri Lanka Evan Papageorgiou issued the following statement: “IMF staff and the Sri Lankan authorities have reached staff-level agreement on the Seventh Review under the 4-year Extended Fund Facility (EFF) arrangement and concluded the 2026 Article IV Consultation discussions. The EFF arrangement was approved by the […]
Sri Lankan Islamic Finance Industry to Advance from Small Footprint: Fitch Ratings
Fitch Ratings expects Sri Lanka’s Islamic finance industry to grow over the medium term, supported by regulatory progress, rising political will, and expanding conventional-bank participation through Islamic windows. Sri Lanka’s Islamic finance industry exceeded USD1 billion at end-1H26. Sri Lanka has one of the highest Islamic finance penetration rates among countries with Muslim-minority populations. However, […]
HIP Crosses One Million TEU Milestone; Advances Capacity Expansion Towards Two Million TEUs
Hambantota International Port (HIP) has surpassed one million TEUs in cumulative container throughput since the commissioning of new quay cranes in 2025, marking a significant milestone in the rapid growth of its container operations. The port handled 428,036 TEUs in 2025, while throughput reached 574,196 TEUs in 2026 year-to-date, bringing the combined volume to 1,002,232 […]
IMF says more time needed for Sri Lanka’s seventh review discussions
Dr. Martha Tesfaye Woldemichael, IMF Resident Representative for Sri Lanka (top left); Dr. P. Nandalal Weerasinghe, Governor, Central Bank of Sri Lanka (bottom left); Sanjaya Gunawardana, Managing Director and Chief Executive Officer, Sampath Bank PLC (top right); and Hiran Cabraal, Independent Non-Executive Director, Sampath Bank PLC (bottom right). The centre panel captures the Forum discussion […]
Sri Lanka’s Inflation Target is set at 5% for the next three years: CBSL
The Minister of Finance, Planning and Economic Development and the President of Sri Lanka, Hon. Anura Kumara Dissanayake, and the Governor of the Central Bank of Sri Lanka, Dr. P Nandalal Weerasinghe, signed a new Monetary Policy Framework Agreement (MPFA) in terms of Section 26 of the Central Bank of Sri Lanka Act, No. 16 […]
From Stability to Transformation: What Sri Lanka’s Industrial Policy Experience Teaches Us
“The best way to predict the future is to create it.” — Peter Drucker By Prof. Asoka S.Seneviratne Introduction Sri Lanka has never been without industrial policy. For decades, successive governments have attempted, in different forms, to promote manufacturing, protect domestic industries, attract foreign investment, develop exports, create employment and move the economy towards higher […]