Local

Budget 2026: President reviews final draft of proposals
President Anura Kumara Dissanayake reviewed the final draft of the Budget 2026 proposals on Wednesday (5) at the Presidential Secretariat. The Budget 2026, which marks the second budget of the current government, is scheduled to be presented to Parliament today (7) by President Anura Kumara Dissanayake in his capacity as the Minister of Finance, Planning and Economic Development.
https://www.themorning.lk/articles/UHZYwbAzUw9Jj1Ckqmxc 

Beyond congestion: Urgent need to reform Colombo’s port operations
Every delay at the Port of Colombo now comes at a heavy price. For Sri Lanka’s apparel industry, time is not just money; it’s trust. The recent reports of ships failing to call at Colombo because of the potential delays in the Port of Colombo, are a major concern for the exporters who depend on reliability to stay competitive in the global markets
https://www.dailymirror.lk/business-news/Beyond-congestion-Urgent-need-to-reform-Colombos-port-operations/273-324296

Sampath Bank-Ideal Motors drive affordable vehicle ownership
SanjSampath Bank PLC recently signed a memorandum of understanding (MoU) with Ideal Motors (Pvt.) Ltd, an authorised distributor of Mahindra vehicles in Sri Lanka. The partnership aims to offer customers enhanced vehicle financing solutions and exclusive benefits
https://www.dailymirror.lk/business-news/Sampath-Bank-Ideal-Motors-drive-affordable-vehicle-ownership/273-324297 

HNB Assurance leads industry with 3Q GWP growth of 38%
HNB Assurance PLC (HNBA) announced a strong financial performance for the nine months ended September 30, 2025, posting a 38 percent year-on-year growth in life insurance gross written premium (GWP), which is the highest growth among the life insurers in Sri Lanka.
https://www.dailymirror.lk/business-news/HNB-Assurance-leads-industry-with-3Q-GWP-growth-of-38/273-324300 

SDF issues first High Yield Sustainable Bond
The Tier 2, listed, rated, unsecured, subordinated, redeemable, High-Yield Sustainable Bond Issue raised 20 million bonds at a par value of Rs. 100 each, with Capital Alliance Pvt Ltd as its issue manager, aiming to raise a total of Rs. 2 billion, with a rating of ‘BB+’ by Lanka Rating Agency Limited, was oversubscribed within hours of being listed on the exchange on 8th October 2025.
https://www.dailymirror.lk/business-news/SDF-issues-first-High-Yield-Sustainable-Bond/273-324305 

Vessel omissions at Colombo Port choking export sector: FTZMA warns
•    Says situation has had a significant impact on the operations of exporters and the broader shipping and logistics community in the country
•    Highlights exporters grappling with a shortage of vital raw materials, leading to production bottlenecks and the inability to meet crucial deadlines for export orders
•    Calls for regular discussions with major shipping lines to minimise omissions.
https://www.dailymirror.lk/business-news/Vessel-omissions-at-Colombo-Port-choking-export-sector-FTZMA-warns/273-324307 

JAT Holdings sets sights on Australia and India after Mirotone acquisition 
JAT Holdings PLC has unveiled an ambitious post-acquisition strategy focused on an aggressive Australian relaunch and a landmark entry into the Indian market, following its acquisition of Mirotone (NZ) Limited.  The move, described by company leadership as transforming JAT into a “truly international coatings company,” leverages the newly acquired 90-year-old brand to penetrate developed markets previously considered barriers to the Sri Lankan firm
https://www.dailymirror.lk/business-news/JAT-Holdings-sets-sights-on-Australia-and-India-after-Mirotone-acquisition/273-324308 

Sunshine Holdings posts Rs. 32.3 b revenue in 1HFY26 
Sri Lankan conglomerate Sunshine Holdings PLC recorded a consolidated revenue of Rs. 32.3 billion in 1HFY26, up 7.4% year-over-year (YoY), primarily driven by continued expansion in the Healthcare sector, supported by strong performances in consumer and agribusiness sectors, a recent press statement noted.
https://www.themorning.lk/articles/zsdegsGcJOOjpQ23v0u2 

Shipping and maritime: Col. Dockyard in contract with Orange Marine
Colombo Dockyard PLC (CDPLC), a Sri Lankan engineering company noted that it has secured a repeat vessels contract to build two Cable Laying and Repair Vessels to shipping operator Orange Marine. 
Orange Marine is a French company specialising in the field of submarine telecommunications, from the initial design, engineering, to installation of intercontinental and regional links, and maintenance of existing cables. 
https://www.themorning.lk/articles/qbrvuJIl50wzyDEQjAwF 

Insurance: Policybazaar enters Sri Lanka
Policybazaar.com, one of India’s insurance platforms, has announced through a press release, the launch of its reinsurance operations in Sri Lanka, Qatar, Oman, and the UAE.  With this move, Policybazaar becomes one of the first India-based intermediaries to introduce a technology-driven reinsurance model across Asia and the Middle East, regions that are rapidly growing yet continue to face efficiency and capacity gaps.
https://www.themorning.lk/articles/BW8xni58GUC1VeKg478I 

Global

Private reports suggest US labor market weakened in October
Revelio Labs data shows job losses in October, including in the government sector
AI and cost-cutting drive surge in planned layoffs, Challenger reports
Chicago Fed estimates unemployment rate rose to 4.36% in October.
https://www.reuters.com/business/private-reports-suggest-us-labor-market-weakened-october-2025-11-06/ 

Oil falls as investors weigh potential supply glut, weak demand
Oil prices declined on Thursday as investors considered a potential supply glut, as well as weakened demand in the United States, the world's largest oil consumer. Brent crude futures settled down 14 cents, or 0.22%, to $63.38 a barrel. U.S. West Texas Intermediate futures settled down 17 cents, or 0.29%, to $59.43.
https://www.reuters.com/business/energy/oil-flat-weak-demand-oil-glut-weigh-market-2025-11-06/

Local

Cabinet approves local funding to complete Maharagama-Piliyandala road upgrade
The Cabinet of Ministers at their meeting on Monday approved a proposal to utilise State funds to complete the remaining section of the Maharagama-Piliyandala road after the OPEC Fund for International Development loan was found insufficient to cover the full project cost.
https://www.ft.lk/front-page/Cabinet-approves-local-funding-to-complete-Maharagama-Piliyandala-road-upgrade/44-783973

Tata Power Renewable Energy CEO calls PPPs “catalyst for reform” in power sector transformation
•    Sanjay Banga says PPPs are not just about privatisation; but about building mutually beneficial models that combine public objectives with private execution strength
•    Notes PPPs’ success depends on whether all stakeholders, including employees, customers and regulators, are considered in the design
•    Opines PPPs can be effective in other public utilities and service delivery
•    Insists not to view PPPs solely as vehicles for privatisation as they serve public needs if designed properly 
•    Asserts greatest strengths of India’s PPP journey lies in its adaptive learning or ability to reform frameworks based on experience and evidence
https://www.ft.lk/front-page/Tata-Power-Renewable-Energy-CEO-calls-PPPs-catalyst-for-reform-in-power-sector-transformation/44-783908

Govt. rules out further tax hikes ahead of 2026 Budget on Friday
Cabinet Spokesman and Minister Dr. Nalinda Jayatissa yesterday reaffirmed that there will be no further tax increases in the 2026 Budget, emphasising that the Government’s focus is on providing relief to industries and sustaining economic growth.
https://www.ft.lk/front-page/Govt-rules-out-further-tax-hikes-ahead-of-2026-Budget-on-Friday/44-783906

By end of 2026: SL will have to clear Rs. 126 b arrears
The Sri Lanka Government would have to settle existing arrears of Rs. 126 billion by the end of 2026 under the International Monetary Fund (IMF) programme without future accumulations, th

e Finance Ministry said.
https://www.themorning.lk/articles/KPakqqQHkbpfI6h4BVwy

IRD raises submission of income tax returns
The Department of Inland Revenue has issued a notice regarding the submission of Income Tax Returns for the assessment year 2024/2025.
https://www.themorning.lk/articles/ER145qKhUfOYtB6SAoQM

Bilateral relations: SL-UAE joint commission concludes 
The Second Session of the Joint Commission between Sri Lanka and the United Arab Emirates (UAE) has been successfully concluded in Colombo.
https://www.themorning.lk/articles/uVc6ZgrxVbWS0kTP23ed

Oil prices drift lower as demand weakens 
Oil prices slipped modestly in early Asian trading on Wednesday, with the West Texas Intermediate (WTI) down 0.71% to $ 60.13 and Brent crude trading 0.62% lower at $ 64.04.
https://www.themorning.lk/articles/4XbI59vTc7R0xD1kzcc0

JKH defies critics with blowout 2Q results
•    EBITDA soars 127%, profits rise 21% on synchronised performance at all units 
•    Performance largely led by retail segment, which houses its expansive supermarket business and more recently electric vehicle business
•    Says it expects even better performance in second half of financial year, after fully operationalising key investments made in first half
•    Reported earnings of Rs.1.65bn for quarter, a 21% increase when compared with Rs.1.37bn for same period last year
https://www.dailymirror.lk/print/business-main/JKH-defies-critics-with-blowout-2Q-results/245-324191

Sri Lanka working on 67 Public Private Partnerships
ECONOMYNEXT – Sri Lanka is working on 67 public private partnerships in spread through several sectors, Chief Executive of the National Agency for Public Private Partnerships, Sukakshana Jaywardena said.
https://economynext.com/sri-lanka-working-on-67-public-private-partnerships-246855/#modal-one

Sri Lanka to hire 60,000 state workers as people pay more taxes after default
ECONOMYNEXT – Sri Lanka planning to 60,000 state workers in the future to fill ‘vacancies’ after allocating tax money to to hire 30,000 workers in the current year, a media report said.
https://economynext.com/sri-lanka-to-hire-60000-state-workers-as-people-pay-more-taxes-after-default-246846/#modal-one

Global

Inside Gaza, BBC sees total devastation after two years of war
From an embankment overlooking Gaza City, there's no hiding what this war has done.

The Gaza of maps and memories is gone, replaced by a monochrome landscape of rubble stretching flat and still for 180 degrees, from Beit Hanoun on one side to Gaza City on the other.
https://www.themorning.lk/articles/RC4wFR0smBjradedIwNs 

Will The Supreme Court Strike Down Trump's Tariffs?
•    The Supreme Court heard oral arguments on Wednesday in a lawsuit seeking to overturn many of President Donald Trump's tariffs.
•    The justices expressed skepticism about the administration's legal justification for imposing the tariffs, but the outcome was far from certain.
•    A ruling against the tariffs would force the administration to impose import taxes by other means, which have significant limitations.
https://www.investopedia.com/will-the-supreme-court-strike-down-trump-s-tariffs-11844432

Local

Cabinet approves local funding to complete Maharagama-Piliyandala road upgrade
The Cabinet of Ministers at their meeting on Monday approved a proposal to utilise State funds to complete the remaining section of the Maharagama-Piliyandala road after the OPEC Fund for International Development loan was found insufficient to cover the full project cost.
https://www.ft.lk/front-page/Cabinet-approves-local-funding-to-complete-Maharagama-Piliyandala-road-upgrade/44-783973

Tata Power Renewable Energy CEO calls PPPs “catalyst for reform” in power sector transformation
•    Sanjay Banga says PPPs are not just about privatisation; but about building mutually beneficial models that combine public objectives with private execution strength
•    Notes PPPs’ success depends on whether all stakeholders, including employees, customers and regulators, are considered in the design
•    Opines PPPs can be effective in other public utilities and service delivery
•    Insists not to view PPPs solely as vehicles for privatisation as they serve public needs if designed properly 
•    Asserts greatest strengths of India’s PPP journey lies in its adaptive learning or ability to reform frameworks based on experience and evidence
https://www.ft.lk/front-page/Tata-Power-Renewable-Energy-CEO-calls-PPPs-catalyst-for-reform-in-power-sector-transformation/44-783908

Govt. rules out further tax hikes ahead of 2026 Budget on Friday
Cabinet Spokesman and Minister Dr. Nalinda Jayatissa yesterday reaffirmed that there will be no further tax increases in the 2026 Budget, emphasising that the Government’s focus is on providing relief to industries and sustaining economic growth.
https://www.ft.lk/front-page/Govt-rules-out-further-tax-hikes-ahead-of-2026-Budget-on-Friday/44-783906

By end of 2026: SL will have to clear Rs. 126 b arrears
The Sri Lanka Government would have to settle existing arrears of Rs. 126 billion by the end of 2026 under the International Monetary Fund (IMF) programme without future accumulations, the Finance Ministry said.
https://www.themorning.lk/articles/KPakqqQHkbpfI6h4BVwy

IRD raises submission of income tax returns
The Department of Inland Revenue has issued a notice regarding the submission of Income Tax Returns for the assessment year 2024/2025.
https://www.themorning.lk/articles/ER145qKhUfOYtB6SAoQM

Bilateral relations: SL-UAE joint commission concludes 
The Second Session of the Joint Commission between Sri Lanka and the United Arab Emirates (UAE) has been successfully concluded in Colombo.
https://www.themorning.lk/articles/uVc6ZgrxVbWS0kTP23ed

Oil prices drift lower as demand weakens 
Oil prices slipped modestly in early Asian trading on Wednesday, with the West Texas Intermediate (WTI) down 0.71% to $ 60.13 and Brent crude trading 0.62% lower at $ 64.04.
https://www.themorning.lk/articles/4XbI59vTc7R0xD1kzcc0

JKH defies critics with blowout 2Q results
•    EBITDA soars 127%, profits rise 21% on synchronised performance at all units 
•    Performance largely led by retail segment, which houses its expansive supermarket business and more recently electric vehicle business
•    Says it expects even better performance in second half of financial year, after fully operationalising key investments made in first half
•    Reported earnings of Rs.1.65bn for quarter, a 21% increase when compared with Rs.1.37bn for same period last year
https://www.dailymirror.lk/print/business-main/JKH-defies-critics-with-blowout-2Q-results/245-324191

Sri Lanka working on 67 Public Private Partnerships
ECONOMYNEXT – Sri Lanka is working on 67 public private partnerships in spread through several sectors, Chief Executive of the National Agency for Public Private Partnerships, Sukakshana Jaywardena said.
https://economynext.com/sri-lanka-working-on-67-public-private-partnerships-246855/#modal-one

Sri Lanka to hire 60,000 state workers as people pay more taxes after default
ECONOMYNEXT – Sri Lanka planning to 60,000 state workers in the future to fill ‘vacancies’ after allocating tax money to to hire 30,000 workers in the current year, a media report said.
https://economynext.com/sri-lanka-to-hire-60000-state-workers-as-people-pay-more-taxes-after-default-246846/#modal-one

Global

Inside Gaza, BBC sees total devastation after two years of war
From an embankment overlooking Gaza City, there's no hiding what this war has done.

The Gaza of maps and memories is gone, replaced by a monochrome landscape of rubble stretching flat and still for 180 degrees, from Beit Hanoun on one side to Gaza City on the other.
https://www.themorning.lk/articles/RC4wFR0smBjradedIwNs 

Will The Supreme Court Strike Down Trump's Tariffs?
•    The Supreme Court heard oral arguments on Wednesday in a lawsuit seeking to overturn many of President Donald Trump's tariffs.
•    The justices expressed skepticism about the administration's legal justification for imposing the tariffs, but the outcome was far from certain.
•    A ruling against the tariffs would force the administration to impose import taxes by other means, which have significant limitations.
https://www.investopedia.com/will-the-supreme-court-strike-down-trump-s-tariffs-11844432

Local

SEC proposes ‘investment portfolio for everyone’ in Budget 2026

The Securities and Exchange Commission of Sri Lanka (SEC) is proposing a landmark initiative to introduce a ‘portfolio for everyone’ as part of Budget 2026, in collaboration with the Colombo Stock Exchange and government. The proposal, tentatively named ‘A Share for Everyone’ or ‘A Unit for Everyone’, aims to provide a small, introductory investment portfolio of stocks or unit trusts, valued around Rs.3,000 to Rs.5,000, to Sri Lankan families.
https://www.dailymirror.lk/business-main/SEC-proposes-investment-portfolio-for-everyone-in-Budget-2026/245-323618 

Nearly 17,000 new investors fuel unit trust industry’s growth in 2025

Sri Lanka’s unit trust industry has recorded significant momentum so far this year, attracting 16,972 new unit holders, who have collectively invested Rs.56.4 billion, Securities and Exchange Commission (SEC) Chairman Senior Professor Hareendra Dissabandara revealed yesterday.
https://www.dailymirror.lk/business-news/Nearly-17-000-new-investors-fuel-unit-trust-industrys-growth-in-2025/273-323616 

PickMe rides high in September on rising platform movements

Digital Mobility Solutions Lanka PLC or popularly known as PickMe added momentum to its operations and thereby its financial performance for the quarter ended in September 2025, as the country’s biggest ride-hailing service has been expanding operations while diversifying its services within its turf. The company reported revenues of Rs.2.10 billion for the July-September quarter, up 51 percent from the same period last year and 17 percent from the previous quarter, reflecting persistent growth in the company.
https://www.dailymirror.lk/business-news/PickMe-rides-high-in-September-on-rising-platform-movements/273-323615 

Prime Residencies opens The Palace’s New Community Kitchen

Located just 100 metres from the Colombo–Kandy Road, The Palace has already sold over 200 units, demonstrating strong market confidence in the project and reinforcing Prime Residencies’ reputation as Sri Lanka’s most trusted developer. Beyond the Community Kitchen, residents enjoy a thoughtfully planned environment with premium amenities such as landscaped gardens, children’s play areas, and versatile event spaces. Together, these features create an aspirational yet authentically Sri Lankan lifestyle.
https://www.dailymirror.lk/business-news/Prime-Residencies-opens-The-Palaces-New-Community-Kitchen/273-323610 

New Indonesian forest laws affect Goodhope Asia plantations

Carson Cumberbatch and Bukit Darah yesterday said several subsidiaries of their Singapore-based arm, Goodhope Asia Holdings Ltd, have been affected by Indonesia’s latest land management regulations, which aim to repossess the forest-status lands from the private plantation companies. The Indonesian government’s newly formed Presidential Task Force has begun implementing the regulation, which so far has impacted about 587 companies in the palm oil plantation sector, covering nearly 1.5 million hectares across the country.
https://www.dailymirror.lk/business-news/New-Indonesian-forest-laws-affect-Goodhope-Asia-plantations/273-323605 

DFCC Aloka drives women’s empowerment in Jaffna with Evolution Auto 

DFCC Bank, through its women-focused proposition DFCC Aloka, recently partnered with Evolution Auto at the Green Wheels Carnival in Jaffna. The initiative created new opportunities for aspiring women entrepreneurs from underserved communities to strengthen household income, gain independence, and uplift community wellbeing.
https://www.dailymirror.lk/business-news/DFCC-Aloka-drives-womens-empowerment-in-Jaffna-with-Evolution-Auto/273-323608 

WindForce, Vidullanka emerge as lowest bidders for 50MW Mullikulam wind project 

WindForce PLC and Vidullanka PLC, two of Sri Lanka’s leading renewable energy developers, have each announced that they have emerged as the lowest cost bidders for the 50-megawatt (MW) Mullikulam Wind Power Project. The project is a key development under the Ceylon Electricity Board’s (CEB) latest push to expand the nation’s clean energy capacity.
https://www.dailymirror.lk/business-news/WindForce-Vidullanka-emerge-as-lowest-bidders-for-50MW-Mullikulam-wind-project/273-323617 

NDB Bank partners Home Lands Group introduce financing solutions

NDB Bank recently entered into a strategic partnership with Home Lands Group, one of Sri Lanka’s most trusted and innovative real estate developers. The Memorandum of Understanding (MoU), signed recently, marks a significant milestone in empowering Sri Lankans to achieve their home ownership aspirations with greater ease and flexibility. The scheme provides up to 120% financing, with 100% allocated for the property purchase and an additional 20% for ancillary expenses such as furnishing, remodeling, or other home-related requirements.
https://www.dailynews.lk/2025/10/30/business/885434/ndb-bank-partners-home-lands-group-introduce-financing-solutions/

IMF urges Lanka to stay the course of reform program

While reforms are progressing, it is important for Sri Lanka to stay the course and complete its homegrown reform program to fully stabilize the economy longer-term concerns, including those about 2028, should be viewed in perspective, Thomas Helbling, Deputy Director, Asia and Pacific Department told the Asia and Pacific Department Regional Economic Outlook held in Washington DC on Tuesday.
https://www.dailynews.lk/2025/10/30/business/885641/imf-urges-lanka-to-stay-the-course-of-reform-program/

Lanka’s tax revenue up 32%

The Ministry of Finance and Planning stated that Sri Lanka’s tax revenue had increased by more than 32 percent by the end of the third quarter of this year (January 1, 2025 to September 30, 2025) compared to the same period of the previous year. The Ministry of Finance also says that by the end of the third quarter, the main revenue collecting agencies, the Department of Inland Revenue, the Department of Customs and the Department of Excise, have achieved 78% of their annual estimates.
https://www.dailynews.lk/2025/10/30/business/885638/lankas-tax-revenue-up-32/ 

Global

Asia stocks wobble as Fed cuts, BOJ and Trump-Xi meeting in view

Asian stocks fluctuated between gains and losses early on Thursday after the Federal Reserve cut interest rates and as investors waited to see if U.S. and Chinese leaders will thrash out a trade deal.
https://www.reuters.com/world/china/global-markets-wrapup-1-2025-10-30/

Local

Budget deficit more than halves YTD Sept. 2025

•    Deficit down 54.5% YoY to Rs. 441.4 b in Jan.-Sept 2025 from Rs. 970 b 
•    a year ago; primary account surplus doubles YoY to Rs. 1.4 t
•    Revenue up 31% YoY to Rs. 3.83 t, led by VAT and import taxes; Customs collects Rs. 1.7 t, meeting 80% of its annual target
•    Expenditure rises 10% YoY to Rs. 4.3 t, driven by recurrent spending
•    Capital spending dips 2% YoY to Rs. 455 b as interest costs climb
https://www.ft.lk/top-story/Budget-deficit-more-than-halves-YTD-Sept-2025/26-783627

Free-visa scheme for 47 countries to be implemented within two months: Tourism Minister

•    Says original 3 m tourist arrivals target revised down to 2.4 m with efforts now focused on achieving it in last two months
•    Asserts passenger volumes and flight operations expected to increase during the next two months, supported by new airline schedules and expanded routes
•    Points to several new promotional campaigns underway to woo more European visitors, including targeted efforts in Scandinavian countries and UK
•    Industry opines move was too late to attract tourists for winter season
https://www.ft.lk/front-page/Free-visa-scheme-for-47-countries-to-be-implemented-within-two-months-Tourism-Minister/44-783626

Hong Kong-based Giesecke & Devrient gets contract to upgrade CBSL’s currency operations

The Cabinet has approved awarding a contract to Hong Kong-based Giesecke & Devrient Asia Pacific Ltd. to enhance the Central Bank of Sri Lanka's currency operations and monitoring activities, following a competitive procurement process in which the firm was recommended after meeting qualification criteria and evaluation of technical and financial proposals from four initially interested institutions.
https://www.ft.lk/front-page/Hong-Kong-based-Giesecke-Devrient-gets-contract-to-upgrade-CBSL-s-currency-operations/44-783624

Sri Lanka welcomes new winter flight connections from Switzerland, Russia and Belarus

Edelweiss Air, Red Wings Airlines, and Belavia inaugurated their winter season flights to Sri Lanka's Katunayake and Mattala airports, with Edelweiss operating twice-weekly flights from Zurich to BIA, while Red Wings and Belavia will each operate one weekly flight to MRIA with approval to expand based on demand, strengthening European and Russian tourist connectivity.
https://www.ft.lk/front-page/Sri-Lanka-welcomes-new-winter-flight-connections-from-Switzerland-Russia-and-Belarus/44-783623

Sri Lanka, India to implement 33 development projects in Eastern Province under Rs. 2.37 b grant

The Cabinet has approved signing 33 Memoranda of Understanding between the Public Administration, Provincial Councils and Local Government Ministry and the Indian High Commission to implement development projects in the Eastern Province under Indian Multi-Sectoral Grants worth Rs. 2,371.83 million, following a broader agreement signed in April 2025.
https://www.ft.lk/front-page/Sri-Lanka-India-to-implement-33-development-projects-in-Eastern-Province-under-Rs-2-37-b-grant/44-783622

Apparel exports: Growth seen despite drop in shipments to US and UK 

Sri Lanka's apparel exports rose 1.58% year-on-year to $403 million in September despite declines in US and UK shipments, with the increase driven by 10.75% growth to the EU and 19.49% to other markets, while cumulative nine-month exports reached $3.79 billion, up 6.83% from last year, though the World Bank has warned that Trump administration tariffs could reduce US-bound garment exports by up to 12%.
https://www.themorning.lk/articles/zHZwzCYb6t2hZrfWxFyT

Locally Produced Tiles: To be sold at subsidised price soon: Minister 

Minister of Industry and Entrepreneurship Development Sunil Handunneththi announced that the government will provide locally produced tiles at subsidized rates, stating that Sri Lanka's tile industry can meet 100% of domestic demand and plans to reduce tile prices by Rs. 200 per unit through a new programme aimed at making locally manufactured tiles more affordable than imports.
https://www.themorning.lk/articles/maaVtnuuOQ6gfYDTNIDw

ADB approves USD100 Mn to diversify Lanka tourism

The Asian Development Bank has approved a $100 million financing package for Sri Lanka's tourism sector, consisting of a $70 million concessional loan and $30 million regular loan, to support policy reforms, infrastructure improvements, and destination marketing, with a focus on diversifying tourism offerings and enhancing sector resilience, as tourist earnings remain below pre-pandemic levels despite arrivals returning to 2018 figures.
https://www.dailynews.lk/2025/10/29/business/884689/adb-approves-usd100-mn-to-diversify-lanka-tourism/

Vidullanka, David Pieris Group lowest bidders for 50MW Mullikulam wind project

Vidullanka and its consortium partner David Pieris Group have emerged as the lowest-cost bidder for the 50-megawatt Mullikulam Wind Power Project, marking a key step toward expanding the company's renewable energy portfolio, though the final contract award is still pending regulatory approvals and negotiations.
https://www.ft.lk/front-page/Vidullanka-David-Pieris-Group-lowest-bidders-for-50MW-Mullikulam-wind-project/44-783625

Seylan Bank PAT up 26% YoY to Rs. 8.3 b by Q3 2025

•    Profit Before Income Tax reaches Rs. 12.8 b, up 20.75% YoY
•    Reports Return on Equity of 15.08%; Total Capital Adequacy Ratio of 18.34%
•    Impaired Loans (Stage 3) Ratio at 1.48%
https://www.ft.lk/front-page/Seylan-Bank-PAT-up-26-YoY-to-Rs-8-3-b-by-Q3-2025/44-783621

Global

Wall Street indexes post record closing highs as Nvidia jumps, megacap earnings ahead

•    Microsoft advances after OpenAI restructuring deal
•    Key results from megacap names due this week
•    Nvidia will build AI supercomputers for US energy department
•    Indexes: Dow up 0.3%, S&P 500 up 0.2%; Nasdaq up 0.8%
https://www.reuters.com/business/us-stock-futures-steady-after-recent-rally-focus-big-corporate-earnings-2025-10-28/

Nvidia's stock market value nears record $5 trillion

Nvidia approached a $5 trillion valuation on Tuesday after announcing $500 billion in bookings for its AI processors and plans to build seven new supercomputers for the U.S. Department of Energy, with its stock closing nearly 5% higher at a market capitalization of $4.89 trillion, while the largest supercomputer will contain 100,000 of Nvidia's Blackwell AI chips and help maintain the U.S. nuclear weapons arsenal.
https://www.reuters.com/world/asia-pacific/nvidias-stock-market-value-nears-record-5-trillion-2025-10-28/

US consumer confidence slips to six-month low; worries over job availability rising

•    Consumer confidence index falls 1.0 point to 94.6 in October
•    Labor market differential increases to 9.4 from 8.7 in September
•    Average inflation expectations rise, buying intentions mixed
https://www.reuters.com/world/us/us-consumer-confidence-slips-october-worries-over-jobs-persist-2025-10-28/

Softlogic Stockbrokers – News Alert – 28th October 2025
 

Local

Govt. plans to raise $11.2b via Sovereign Green and Blue Bonds by 2030

Sovereign Green/Blue Bond framework already drafted and reviewed by international rating agency

Govt. aligning upcoming issuances with IFC’s Green Bond Principles and global sustainable finance standards

Finance Ministry to introduce Sustainability-Linked Bond Framework and strengthen transparency on fund allocation and environmental outcomes

Part of strategy to attract both foreign and domestic investors, boost market confidence

Successful implementation expected to enhance Sri Lanka’s sovereign credit profile
https://www.ft.lk/top-story/Govt-plans-to-raise-11-2-b-via-Sovereign-Green-and-Blue-Bonds-by-2030/26-783510
 

UNDP urges Govt. to unlock private finance, align institutions to meet climate goals

UNDP Sri Lanka's Resident Representative has called on the government to rapidly implement its climate finance strategy and mobilize over $10 billion needed through 2030, emphasizing that coordinated action across public and private sectors is essential to transform the country's climate ambitions into reality while protecting its resource-dependent economy.
https://www.ft.lk/front-page/UNDP-urges-Govt-to-unlock-private-finance-align-institutions-to-meet-climate-goals/44-783517

ADB approves $100m to diversify Sri Lanka tourism sector

Funding for Sustainable Tourism Sector Development Program

Program to promote untapped tourism areas, marine tourism, open new destinations

Also aims to increase tourist stay and spend, and boost women’s participation

Supports sustainable tourism and urban development in Dambulla (including Sigiriya) and Trinco. Consists of $70m concessional loan, $30m regular loan from ADB

Says Sri Lanka’s 2025 tourist arrivals returned to 2018 levels, but earnings below pre-COVID figures
https://www.ft.lk/front-page/ADB-approves-100-m-to-diversify-Sri-Lanka-tourism-sector/44-783516

Foreign holdings in Govt. securities hits Rs. 131b, highest since 2023

Foreign investment in Sri Lankan government securities has reached Rs. 130.96 billion as of 23 October—the highest level in nearly two years—with cumulative inflows of Rs. 61.7 billion recorded since late December 2024, reflecting growing overseas investor confidence in rupee-denominated bonds.
https://www.ft.lk/front-page/Foreign-holdings-in-Govt-securities-hits-Rs-131-b-highest-since-2023/44-783515

World Bank urges improving data system for Aswesuma program

World Bank representatives have urged Sri Lanka to maintain an accurate, continuously updated database for the Aswesuma social security program to correctly identify genuinely poor beneficiaries, offering technical support while Parliament members called for local committee selection and public display of beneficiary lists to ensure transparency amid concerns that 22% of the population still lives below the poverty line.
https://www.ft.lk/front-page/World-Bank-urges-improving-data-system-for-Aswesuma-program/44-783512

Sri Lanka, Australia sign $39m debt restructuring deal

Sri Lanka and Australia have signed bilateral agreements to restructure around $39 million in outstanding debt, with the deal being formalized at the Finance Ministry as part of Sri Lanka's broader efforts to restore debt sustainability following its agreement with the Official Creditor Committee.
https://www.ft.lk/front-page/Sri-Lanka-Australia-sign-39-m-debt-restructuring-deal/44-783511

By end of Q3: SL tax revenue increased by over 32%

Sri Lanka's tax revenue surged 32.5% year-on-year to Rs. 3,563 billion by end-September 2025, driven by record Customs collections through VAT and excise duty on imports, which narrowed the budget deficit by 54.5% to Rs. 441.4 billion and pushed the primary surplus to Rs. 1,465 billion, with Customs contributing 48% of total tax revenue after achieving 80% of its annual target.
https://www.themorning.lk/articles/YK55suBaHApj2AbzqaBB

Asia-Pacific: External headwinds weaken fiscal consolidation

Fitch Ratings forecasts that Asia-Pacific growth will remain higher than other regions despite US tariffs impacting exports, with US dollar weakness and potential rate cuts helping to mitigate weaker global demand, though fiscal consolidation efforts are being challenged by increased spending pressures from cost-of-living support and social unrest in several countries, while Pakistan and Uzbekistan received upgrades and China was downgraded to 'A' from 'A+' due to weakening public finances.
https://www.themorning.lk/articles/rY5TM5zoHGfcXgXRErmv

Govt, private sector collaboration vital to strengthen local industries

Prime Minister Dr. Harini Amarasuriya told the CNCI Achiever Awards 2025 that government-private sector collaboration is essential to strengthen local industries for job creation and economic growth, while emphasizing the need to increase women's participation through policy reforms including improved credit access, training, equal pay, and support for women-led enterprises.
https://www.dailynews.lk/2025/10/28/business/883864/govt-private-sector-collaboration-vital-to-strengthen-local-industries/

Senthilverl Holdings buys 25.5% of Serendib Land for Rs. 152.5m

Senthilverl Holdings has become the largest shareholder in Serendib Land PLC after acquiring a 25.48% stake from Finco Holdings for Rs. 152.46 million in a transaction valued at Rs. 1,500 per share, below the company's net asset value of Rs. 1,797.83 per share.
https://www.ft.lk/front-page/Senthilverl-Holdings-buys-25-5-of-Serendib-Land-for-Rs-152-5-m/44-783514

Vallibel Finance PLC rated A- in Entity Rating

Lanka Rating Agency has assigned Vallibel Finance PLC a long-term Entity Rating of A- with a Stable Outlook, recognizing the mid-sized finance company's strong market presence with 5.3% industry asset share, superior asset quality with NPL ratios below industry benchmarks, 22.8% profit growth to Rs. 2,629 million in FY25, adequate capitalization with a 16.5% Tier I capital adequacy ratio, and robust corporate governance frameworks.
https://www.themorning.lk/articles/KJQd6h800B9iDc2yvCzR

Global

Wall St scales fresh highs on tech earnings, US-China trade optimism

Indexes up: Dow 0.71%, S&P 500 1.23%, Nasdaq 1.86%

Investors await high-profile US results, US-China trade talks

US-listed Argentina stocks gain after Milei's election

Rare earth miner shares fall
https://www.reuters.com/world/china/wall-st-futures-hit-record-highs-us-china-optimism-tech-results-focus-2025-10-27/

Fed poised to cut rates this week, with more easing likely on tap

Fed expected to cut rates by 0.25 percentage point to prevent labor market slowdown

Milder inflation reduces tariff-driven price pressure concerns

Fed faces internal split, political pressure on rate decisions
https://www.reuters.com/business/fed-poised-cut-rates-this-week-with-more-easing-likely-tap-2025-10-27/

https://tw.site.pro/v4.2/HGxIs/

Local

SEC proposes ‘investment portfolio for everyone’ in Budget 2026

The Securities and Exchange Commission of Sri Lanka (SEC) is proposing a landmark initiative to introduce a ‘portfolio for everyone’ as part of Budget 2026, in collaboration with the Colombo Stock Exchange and government. The proposal, tentatively named ‘A Share for Everyone’ or ‘A Unit for Everyone’, aims to provide a small, introductory investment portfolio of stocks or unit trusts, valued around Rs.3,000 to Rs.5,000, to Sri Lankan families.
https://www.dailymirror.lk/business-main/SEC-proposes-investment-portfolio-for-everyone-in-Budget-2026/245-323618 

Nearly 17,000 new investors fuel unit trust industry’s growth in 2025

Sri Lanka’s unit trust industry has recorded significant momentum so far this year, attracting 16,972 new unit holders, who have collectively invested Rs.56.4 billion, Securities and Exchange Commission (SEC) Chairman Senior Professor Hareendra Dissabandara revealed yesterday.
https://www.dailymirror.lk/business-news/Nearly-17-000-new-investors-fuel-unit-trust-industrys-growth-in-2025/273-323616 

PickMe rides high in September on rising platform movements

Digital Mobility Solutions Lanka PLC or popularly known as PickMe added momentum to its operations and thereby its financial performance for the quarter ended in September 2025, as the country’s biggest ride-hailing service has been expanding operations while diversifying its services within its turf. The company reported revenues of Rs.2.10 billion for the July-September quarter, up 51 percent from the same period last year and 17 percent from the previous quarter, reflecting persistent growth in the company.
https://www.dailymirror.lk/business-news/PickMe-rides-high-in-September-on-rising-platform-movements/273-323615 

Prime Residencies opens The Palace’s New Community Kitchen

Located just 100 metres from the Colombo–Kandy Road, The Palace has already sold over 200 units, demonstrating strong market confidence in the project and reinforcing Prime Residencies’ reputation as Sri Lanka’s most trusted developer. Beyond the Community Kitchen, residents enjoy a thoughtfully planned environment with premium amenities such as landscaped gardens, children’s play areas, and versatile event spaces. Together, these features create an aspirational yet authentically Sri Lankan lifestyle.
https://www.dailymirror.lk/business-news/Prime-Residencies-opens-The-Palaces-New-Community-Kitchen/273-323610 

New Indonesian forest laws affect Goodhope Asia plantations

Carson Cumberbatch and Bukit Darah yesterday said several subsidiaries of their Singapore-based arm, Goodhope Asia Holdings Ltd, have been affected by Indonesia’s latest land management regulations, which aim to repossess the forest-status lands from the private plantation companies. The Indonesian government’s newly formed Presidential Task Force has begun implementing the regulation, which so far has impacted about 587 companies in the palm oil plantation sector, covering nearly 1.5 million hectares across the country.
https://www.dailymirror.lk/business-news/New-Indonesian-forest-laws-affect-Goodhope-Asia-plantations/273-323605 

DFCC Aloka drives women’s empowerment in Jaffna with Evolution Auto 

DFCC Bank, through its women-focused proposition DFCC Aloka, recently partnered with Evolution Auto at the Green Wheels Carnival in Jaffna. The initiative created new opportunities for aspiring women entrepreneurs from underserved communities to strengthen household income, gain independence, and uplift community wellbeing.
https://www.dailymirror.lk/business-news/DFCC-Aloka-drives-womens-empowerment-in-Jaffna-with-Evolution-Auto/273-323608 

WindForce, Vidullanka emerge as lowest bidders for 50MW Mullikulam wind project 

WindForce PLC and Vidullanka PLC, two of Sri Lanka’s leading renewable energy developers, have each announced that they have emerged as the lowest cost bidders for the 50-megawatt (MW) Mullikulam Wind Power Project. The project is a key development under the Ceylon Electricity Board’s (CEB) latest push to expand the nation’s clean energy capacity.
https://www.dailymirror.lk/business-news/WindForce-Vidullanka-emerge-as-lowest-bidders-for-50MW-Mullikulam-wind-project/273-323617 

NDB Bank partners Home Lands Group introduce financing solutions

NDB Bank recently entered into a strategic partnership with Home Lands Group, one of Sri Lanka’s most trusted and innovative real estate developers. The Memorandum of Understanding (MoU), signed recently, marks a significant milestone in empowering Sri Lankans to achieve their home ownership aspirations with greater ease and flexibility. The scheme provides up to 120% financing, with 100% allocated for the property purchase and an additional 20% for ancillary expenses such as furnishing, remodeling, or other home-related requirements.
https://www.dailynews.lk/2025/10/30/business/885434/ndb-bank-partners-home-lands-group-introduce-financing-solutions/

IMF urges Lanka to stay the course of reform program

While reforms are progressing, it is important for Sri Lanka to stay the course and complete its homegrown reform program to fully stabilize the economy longer-term concerns, including those about 2028, should be viewed in perspective, Thomas Helbling, Deputy Director, Asia and Pacific Department told the Asia and Pacific Department Regional Economic Outlook held in Washington DC on Tuesday.
https://www.dailynews.lk/2025/10/30/business/885641/imf-urges-lanka-to-stay-the-course-of-reform-program/

Lanka’s tax revenue up 32%

The Ministry of Finance and Planning stated that Sri Lanka’s tax revenue had increased by more than 32 percent by the end of the third quarter of this year (January 1, 2025 to September 30, 2025) compared to the same period of the previous year. The Ministry of Finance also says that by the end of the third quarter, the main revenue collecting agencies, the Department of Inland Revenue, the Department of Customs and the Department of Excise, have achieved 78% of their annual estimates.
https://www.dailynews.lk/2025/10/30/business/885638/lankas-tax-revenue-up-32/ 

Global

Asia stocks wobble as Fed cuts, BOJ and Trump-Xi meeting in view

Asian stocks fluctuated between gains and losses early on Thursday after the Federal Reserve cut interest rates and as investors waited to see if U.S. and Chinese leaders will thrash out a trade deal.
https://www.reuters.com/world/china/global-markets-wrapup-1-2025-10-30/

Local

Budget deficit more than halves YTD Sept. 2025

•    Deficit down 54.5% YoY to Rs. 441.4 b in Jan.-Sept 2025 from Rs. 970 b 
•    a year ago; primary account surplus doubles YoY to Rs. 1.4 t
•    Revenue up 31% YoY to Rs. 3.83 t, led by VAT and import taxes; Customs collects Rs. 1.7 t, meeting 80% of its annual target
•    Expenditure rises 10% YoY to Rs. 4.3 t, driven by recurrent spending
•    Capital spending dips 2% YoY to Rs. 455 b as interest costs climb
https://www.ft.lk/top-story/Budget-deficit-more-than-halves-YTD-Sept-2025/26-783627

Free-visa scheme for 47 countries to be implemented within two months: Tourism Minister

•    Says original 3 m tourist arrivals target revised down to 2.4 m with efforts now focused on achieving it in last two months
•    Asserts passenger volumes and flight operations expected to increase during the next two months, supported by new airline schedules and expanded routes
•    Points to several new promotional campaigns underway to woo more European visitors, including targeted efforts in Scandinavian countries and UK
•    Industry opines move was too late to attract tourists for winter season
https://www.ft.lk/front-page/Free-visa-scheme-for-47-countries-to-be-implemented-within-two-months-Tourism-Minister/44-783626

Hong Kong-based Giesecke & Devrient gets contract to upgrade CBSL’s currency operations

The Cabinet has approved awarding a contract to Hong Kong-based Giesecke & Devrient Asia Pacific Ltd. to enhance the Central Bank of Sri Lanka's currency operations and monitoring activities, following a competitive procurement process in which the firm was recommended after meeting qualification criteria and evaluation of technical and financial proposals from four initially interested institutions.
https://www.ft.lk/front-page/Hong-Kong-based-Giesecke-Devrient-gets-contract-to-upgrade-CBSL-s-currency-operations/44-783624

Sri Lanka welcomes new winter flight connections from Switzerland, Russia and Belarus

Edelweiss Air, Red Wings Airlines, and Belavia inaugurated their winter season flights to Sri Lanka's Katunayake and Mattala airports, with Edelweiss operating twice-weekly flights from Zurich to BIA, while Red Wings and Belavia will each operate one weekly flight to MRIA with approval to expand based on demand, strengthening European and Russian tourist connectivity.
https://www.ft.lk/front-page/Sri-Lanka-welcomes-new-winter-flight-connections-from-Switzerland-Russia-and-Belarus/44-783623

Sri Lanka, India to implement 33 development projects in Eastern Province under Rs. 2.37 b grant

The Cabinet has approved signing 33 Memoranda of Understanding between the Public Administration, Provincial Councils and Local Government Ministry and the Indian High Commission to implement development projects in the Eastern Province under Indian Multi-Sectoral Grants worth Rs. 2,371.83 million, following a broader agreement signed in April 2025.
https://www.ft.lk/front-page/Sri-Lanka-India-to-implement-33-development-projects-in-Eastern-Province-under-Rs-2-37-b-grant/44-783622

Apparel exports: Growth seen despite drop in shipments to US and UK 

Sri Lanka's apparel exports rose 1.58% year-on-year to $403 million in September despite declines in US and UK shipments, with the increase driven by 10.75% growth to the EU and 19.49% to other markets, while cumulative nine-month exports reached $3.79 billion, up 6.83% from last year, though the World Bank has warned that Trump administration tariffs could reduce US-bound garment exports by up to 12%.
https://www.themorning.lk/articles/zHZwzCYb6t2hZrfWxFyT

Locally Produced Tiles: To be sold at subsidised price soon: Minister 

Minister of Industry and Entrepreneurship Development Sunil Handunneththi announced that the government will provide locally produced tiles at subsidized rates, stating that Sri Lanka's tile industry can meet 100% of domestic demand and plans to reduce tile prices by Rs. 200 per unit through a new programme aimed at making locally manufactured tiles more affordable than imports.
https://www.themorning.lk/articles/maaVtnuuOQ6gfYDTNIDw

ADB approves USD100 Mn to diversify Lanka tourism

The Asian Development Bank has approved a $100 million financing package for Sri Lanka's tourism sector, consisting of a $70 million concessional loan and $30 million regular loan, to support policy reforms, infrastructure improvements, and destination marketing, with a focus on diversifying tourism offerings and enhancing sector resilience, as tourist earnings remain below pre-pandemic levels despite arrivals returning to 2018 figures.
https://www.dailynews.lk/2025/10/29/business/884689/adb-approves-usd100-mn-to-diversify-lanka-tourism/

Vidullanka, David Pieris Group lowest bidders for 50MW Mullikulam wind project

Vidullanka and its consortium partner David Pieris Group have emerged as the lowest-cost bidder for the 50-megawatt Mullikulam Wind Power Project, marking a key step toward expanding the company's renewable energy portfolio, though the final contract award is still pending regulatory approvals and negotiations.
https://www.ft.lk/front-page/Vidullanka-David-Pieris-Group-lowest-bidders-for-50MW-Mullikulam-wind-project/44-783625

Seylan Bank PAT up 26% YoY to Rs. 8.3 b by Q3 2025

•    Profit Before Income Tax reaches Rs. 12.8 b, up 20.75% YoY
•    Reports Return on Equity of 15.08%; Total Capital Adequacy Ratio of 18.34%
•    Impaired Loans (Stage 3) Ratio at 1.48%
https://www.ft.lk/front-page/Seylan-Bank-PAT-up-26-YoY-to-Rs-8-3-b-by-Q3-2025/44-783621

Global

Wall Street indexes post record closing highs as Nvidia jumps, megacap earnings ahead

•    Microsoft advances after OpenAI restructuring deal
•    Key results from megacap names due this week
•    Nvidia will build AI supercomputers for US energy department
•    Indexes: Dow up 0.3%, S&P 500 up 0.2%; Nasdaq up 0.8%
https://www.reuters.com/business/us-stock-futures-steady-after-recent-rally-focus-big-corporate-earnings-2025-10-28/

Nvidia's stock market value nears record $5 trillion

Nvidia approached a $5 trillion valuation on Tuesday after announcing $500 billion in bookings for its AI processors and plans to build seven new supercomputers for the U.S. Department of Energy, with its stock closing nearly 5% higher at a market capitalization of $4.89 trillion, while the largest supercomputer will contain 100,000 of Nvidia's Blackwell AI chips and help maintain the U.S. nuclear weapons arsenal.
https://www.reuters.com/world/asia-pacific/nvidias-stock-market-value-nears-record-5-trillion-2025-10-28/

US consumer confidence slips to six-month low; worries over job availability rising

•    Consumer confidence index falls 1.0 point to 94.6 in October
•    Labor market differential increases to 9.4 from 8.7 in September
•    Average inflation expectations rise, buying intentions mixed
https://www.reuters.com/world/us/us-consumer-confidence-slips-october-worries-over-jobs-persist-2025-10-28/

Local

Budget deficit more than halves YTD Sept. 2025

•    Deficit down 54.5% YoY to Rs. 441.4 b in Jan.-Sept 2025 from Rs. 970 b 
•    a year ago; primary account surplus doubles YoY to Rs. 1.4 t
•    Revenue up 31% YoY to Rs. 3.83 t, led by VAT and import taxes; Customs collects Rs. 1.7 t, meeting 80% of its annual target
•    Expenditure rises 10% YoY to Rs. 4.3 t, driven by recurrent spending
•    Capital spending dips 2% YoY to Rs. 455 b as interest costs climb
https://www.ft.lk/top-story/Budget-deficit-more-than-halves-YTD-Sept-2025/26-783627

Free-visa scheme for 47 countries to be implemented within two months: Tourism Minister

•    Says original 3 m tourist arrivals target revised down to 2.4 m with efforts now focused on achieving it in last two months
•    Asserts passenger volumes and flight operations expected to increase during the next two months, supported by new airline schedules and expanded routes
•    Points to several new promotional campaigns underway to woo more European visitors, including targeted efforts in Scandinavian countries and UK
•    Industry opines move was too late to attract tourists for winter season
https://www.ft.lk/front-page/Free-visa-scheme-for-47-countries-to-be-implemented-within-two-months-Tourism-Minister/44-783626

Hong Kong-based Giesecke & Devrient gets contract to upgrade CBSL’s currency operations

The Cabinet has approved awarding a contract to Hong Kong-based Giesecke & Devrient Asia Pacific Ltd. to enhance the Central Bank of Sri Lanka's currency operations and monitoring activities, following a competitive procurement process in which the firm was recommended after meeting qualification criteria and evaluation of technical and financial proposals from four initially interested institutions.
https://www.ft.lk/front-page/Hong-Kong-based-Giesecke-Devrient-gets-contract-to-upgrade-CBSL-s-currency-operations/44-783624

Sri Lanka welcomes new winter flight connections from Switzerland, Russia and Belarus

Edelweiss Air, Red Wings Airlines, and Belavia inaugurated their winter season flights to Sri Lanka's Katunayake and Mattala airports, with Edelweiss operating twice-weekly flights from Zurich to BIA, while Red Wings and Belavia will each operate one weekly flight to MRIA with approval to expand based on demand, strengthening European and Russian tourist connectivity.
https://www.ft.lk/front-page/Sri-Lanka-welcomes-new-winter-flight-connections-from-Switzerland-Russia-and-Belarus/44-783623

Sri Lanka, India to implement 33 development projects in Eastern Province under Rs. 2.37 b grant

The Cabinet has approved signing 33 Memoranda of Understanding between the Public Administration, Provincial Councils and Local Government Ministry and the Indian High Commission to implement development projects in the Eastern Province under Indian Multi-Sectoral Grants worth Rs. 2,371.83 million, following a broader agreement signed in April 2025.
https://www.ft.lk/front-page/Sri-Lanka-India-to-implement-33-development-projects-in-Eastern-Province-under-Rs-2-37-b-grant/44-783622

Apparel exports: Growth seen despite drop in shipments to US and UK 

Sri Lanka's apparel exports rose 1.58% year-on-year to $403 million in September despite declines in US and UK shipments, with the increase driven by 10.75% growth to the EU and 19.49% to other markets, while cumulative nine-month exports reached $3.79 billion, up 6.83% from last year, though the World Bank has warned that Trump administration tariffs could reduce US-bound garment exports by up to 12%.
https://www.themorning.lk/articles/zHZwzCYb6t2hZrfWxFyT

Locally Produced Tiles: To be sold at subsidised price soon: Minister 

Minister of Industry and Entrepreneurship Development Sunil Handunneththi announced that the government will provide locally produced tiles at subsidized rates, stating that Sri Lanka's tile industry can meet 100% of domestic demand and plans to reduce tile prices by Rs. 200 per unit through a new programme aimed at making locally manufactured tiles more affordable than imports.
https://www.themorning.lk/articles/maaVtnuuOQ6gfYDTNIDw

ADB approves USD100 Mn to diversify Lanka tourism

The Asian Development Bank has approved a $100 million financing package for Sri Lanka's tourism sector, consisting of a $70 million concessional loan and $30 million regular loan, to support policy reforms, infrastructure improvements, and destination marketing, with a focus on diversifying tourism offerings and enhancing sector resilience, as tourist earnings remain below pre-pandemic levels despite arrivals returning to 2018 figures.
https://www.dailynews.lk/2025/10/29/business/884689/adb-approves-usd100-mn-to-diversify-lanka-tourism/

Vidullanka, David Pieris Group lowest bidders for 50MW Mullikulam wind project

Vidullanka and its consortium partner David Pieris Group have emerged as the lowest-cost bidder for the 50-megawatt Mullikulam Wind Power Project, marking a key step toward expanding the company's renewable energy portfolio, though the final contract award is still pending regulatory approvals and negotiations.
https://www.ft.lk/front-page/Vidullanka-David-Pieris-Group-lowest-bidders-for-50MW-Mullikulam-wind-project/44-783625

Seylan Bank PAT up 26% YoY to Rs. 8.3 b by Q3 2025

•    Profit Before Income Tax reaches Rs. 12.8 b, up 20.75% YoY
•    Reports Return on Equity of 15.08%; Total Capital Adequacy Ratio of 18.34%
•    Impaired Loans (Stage 3) Ratio at 1.48%
https://www.ft.lk/front-page/Seylan-Bank-PAT-up-26-YoY-to-Rs-8-3-b-by-Q3-2025/44-783621

Global

Wall Street indexes post record closing highs as Nvidia jumps, megacap earnings ahead

•    Microsoft advances after OpenAI restructuring deal
•    Key results from megacap names due this week
•    Nvidia will build AI supercomputers for US energy department
•    Indexes: Dow up 0.3%, S&P 500 up 0.2%; Nasdaq up 0.8%
https://www.reuters.com/business/us-stock-futures-steady-after-recent-rally-focus-big-corporate-earnings-2025-10-28/

Nvidia's stock market value nears record $5 trillion

Nvidia approached a $5 trillion valuation on Tuesday after announcing $500 billion in bookings for its AI processors and plans to build seven new supercomputers for the U.S. Department of Energy, with its stock closing nearly 5% higher at a market capitalization of $4.89 trillion, while the largest supercomputer will contain 100,000 of Nvidia's Blackwell AI chips and help maintain the U.S. nuclear weapons arsenal.
https://www.reuters.com/world/asia-pacific/nvidias-stock-market-value-nears-record-5-trillion-2025-10-28/

US consumer confidence slips to six-month low; worries over job availability rising

•    Consumer confidence index falls 1.0 point to 94.6 in October
•    Labor market differential increases to 9.4 from 8.7 in September
•    Average inflation expectations rise, buying intentions mixed
https://www.reuters.com/world/us/us-consumer-confidence-slips-october-worries-over-jobs-persist-2025-10-28/

Softlogic Stockbrokers – News Alert – 28th October 2025
 

Local

Govt. plans to raise $11.2b via Sovereign Green and Blue Bonds by 2030

Sovereign Green/Blue Bond framework already drafted and reviewed by international rating agency

Govt. aligning upcoming issuances with IFC’s Green Bond Principles and global sustainable finance standards

Finance Ministry to introduce Sustainability-Linked Bond Framework and strengthen transparency on fund allocation and environmental outcomes

Part of strategy to attract both foreign and domestic investors, boost market confidence

Successful implementation expected to enhance Sri Lanka’s sovereign credit profile
https://www.ft.lk/top-story/Govt-plans-to-raise-11-2-b-via-Sovereign-Green-and-Blue-Bonds-by-2030/26-783510
 

UNDP urges Govt. to unlock private finance, align institutions to meet climate goals

UNDP Sri Lanka's Resident Representative has called on the government to rapidly implement its climate finance strategy and mobilize over $10 billion needed through 2030, emphasizing that coordinated action across public and private sectors is essential to transform the country's climate ambitions into reality while protecting its resource-dependent economy.
https://www.ft.lk/front-page/UNDP-urges-Govt-to-unlock-private-finance-align-institutions-to-meet-climate-goals/44-783517

ADB approves $100m to diversify Sri Lanka tourism sector

Funding for Sustainable Tourism Sector Development Program

Program to promote untapped tourism areas, marine tourism, open new destinations

Also aims to increase tourist stay and spend, and boost women’s participation

Supports sustainable tourism and urban development in Dambulla (including Sigiriya) and Trinco. Consists of $70m concessional loan, $30m regular loan from ADB

Says Sri Lanka’s 2025 tourist arrivals returned to 2018 levels, but earnings below pre-COVID figures
https://www.ft.lk/front-page/ADB-approves-100-m-to-diversify-Sri-Lanka-tourism-sector/44-783516

Foreign holdings in Govt. securities hits Rs. 131b, highest since 2023

Foreign investment in Sri Lankan government securities has reached Rs. 130.96 billion as of 23 October—the highest level in nearly two years—with cumulative inflows of Rs. 61.7 billion recorded since late December 2024, reflecting growing overseas investor confidence in rupee-denominated bonds.
https://www.ft.lk/front-page/Foreign-holdings-in-Govt-securities-hits-Rs-131-b-highest-since-2023/44-783515

World Bank urges improving data system for Aswesuma program

World Bank representatives have urged Sri Lanka to maintain an accurate, continuously updated database for the Aswesuma social security program to correctly identify genuinely poor beneficiaries, offering technical support while Parliament members called for local committee selection and public display of beneficiary lists to ensure transparency amid concerns that 22% of the population still lives below the poverty line.
https://www.ft.lk/front-page/World-Bank-urges-improving-data-system-for-Aswesuma-program/44-783512

Sri Lanka, Australia sign $39m debt restructuring deal

Sri Lanka and Australia have signed bilateral agreements to restructure around $39 million in outstanding debt, with the deal being formalized at the Finance Ministry as part of Sri Lanka's broader efforts to restore debt sustainability following its agreement with the Official Creditor Committee.
https://www.ft.lk/front-page/Sri-Lanka-Australia-sign-39-m-debt-restructuring-deal/44-783511

By end of Q3: SL tax revenue increased by over 32%

Sri Lanka's tax revenue surged 32.5% year-on-year to Rs. 3,563 billion by end-September 2025, driven by record Customs collections through VAT and excise duty on imports, which narrowed the budget deficit by 54.5% to Rs. 441.4 billion and pushed the primary surplus to Rs. 1,465 billion, with Customs contributing 48% of total tax revenue after achieving 80% of its annual target.
https://www.themorning.lk/articles/YK55suBaHApj2AbzqaBB

Asia-Pacific: External headwinds weaken fiscal consolidation

Fitch Ratings forecasts that Asia-Pacific growth will remain higher than other regions despite US tariffs impacting exports, with US dollar weakness and potential rate cuts helping to mitigate weaker global demand, though fiscal consolidation efforts are being challenged by increased spending pressures from cost-of-living support and social unrest in several countries, while Pakistan and Uzbekistan received upgrades and China was downgraded to 'A' from 'A+' due to weakening public finances.
https://www.themorning.lk/articles/rY5TM5zoHGfcXgXRErmv

Govt, private sector collaboration vital to strengthen local industries

Prime Minister Dr. Harini Amarasuriya told the CNCI Achiever Awards 2025 that government-private sector collaboration is essential to strengthen local industries for job creation and economic growth, while emphasizing the need to increase women's participation through policy reforms including improved credit access, training, equal pay, and support for women-led enterprises.
https://www.dailynews.lk/2025/10/28/business/883864/govt-private-sector-collaboration-vital-to-strengthen-local-industries/

Senthilverl Holdings buys 25.5% of Serendib Land for Rs. 152.5m

Senthilverl Holdings has become the largest shareholder in Serendib Land PLC after acquiring a 25.48% stake from Finco Holdings for Rs. 152.46 million in a transaction valued at Rs. 1,500 per share, below the company's net asset value of Rs. 1,797.83 per share.
https://www.ft.lk/front-page/Senthilverl-Holdings-buys-25-5-of-Serendib-Land-for-Rs-152-5-m/44-783514

Vallibel Finance PLC rated A- in Entity Rating

Lanka Rating Agency has assigned Vallibel Finance PLC a long-term Entity Rating of A- with a Stable Outlook, recognizing the mid-sized finance company's strong market presence with 5.3% industry asset share, superior asset quality with NPL ratios below industry benchmarks, 22.8% profit growth to Rs. 2,629 million in FY25, adequate capitalization with a 16.5% Tier I capital adequacy ratio, and robust corporate governance frameworks.
https://www.themorning.lk/articles/KJQd6h800B9iDc2yvCzR

Global

Wall St scales fresh highs on tech earnings, US-China trade optimism

Indexes up: Dow 0.71%, S&P 500 1.23%, Nasdaq 1.86%

Investors await high-profile US results, US-China trade talks

US-listed Argentina stocks gain after Milei's election

Rare earth miner shares fall
https://www.reuters.com/world/china/wall-st-futures-hit-record-highs-us-china-optimism-tech-results-focus-2025-10-27/

Fed poised to cut rates this week, with more easing likely on tap

Fed expected to cut rates by 0.25 percentage point to prevent labor market slowdown

Milder inflation reduces tariff-driven price pressure concerns

Fed faces internal split, political pressure on rate decisions
https://www.reuters.com/business/fed-poised-cut-rates-this-week-with-more-easing-likely-tap-2025-10-27/

https://tw.site.pro/v4.2/HGxIs/