Stockmarket:LK
Colombo, Sri Lanka
Daily Fianancial Market Updates in Sri Lanka
friday
5th December 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
SL rushes to assure tourists
• Tourism authority to brief foreign envoys tomorrow
• Joint social media campaign in the offing to reinforce message that tourism industry is ‘back to normal’ after devastating Ditwah
• SLTDA Chairman Buddhika Hewawasam assures tourist movements not deviating from expected seasonal trends
• THASL President Asoka Hettigoda assures tourist zones, hotels functioning at full service levels
• SLAITO President Nalin Jayasundera notes global tour operators remain confident in promoting Sri Lanka as top destination
https://www.ft.lk/top-story/SL-rushes-to-assure-tourists/26-785209
Banks’ Association pledges strong support for economic revival
• Calls on CBSL Governor; detailed impact assessment already initiated across banks to identify impact to individuals, small businesses and large corporates
• To actively participate in economic relief programs initiated by Govt. in partnership with multilateral development agencies
• Will review pending gold loan auctions with a view to exploring possibility of delaying process where viable to provide affected borrowers more time to repay and redeem
https://www.ft.lk/front-page/Banks-Association-pledges-strong-support-for-economic-revival/44-785218
TISL calls for strong accountability and transparency in use of public funds for disaster relief
Transparency International Sri Lanka urged the Government to ensure strong transparency, accountability, and inclusive oversight in deploying public funds for Cyclone Ditwah relief and reconstruction, emphasizing the need for responsible management, civil society involvement, and safeguarding public trust.
ADB announces emergency grants for flood relief across Southeast Asia and Sri Lanka
ADB President Masato Kanda announced up to $3 million in immediate grant support for Sri Lanka, along with aid to Thailand and Viet Nam, to assist emergency relief and recovery efforts following severe regional flooding.
Geogas to supply Sri Lanka’s LPG needs for 2026
Sri Lanka’s Cabinet has awarded the 2026 LPG supply contract to Geogas Trading S.A. after a competitive tender process, approving the procurement of up to 380,000 metric tons of LPG based on committee recommendations.
https://www.ft.lk/front-page/Geogas-to-supply-Sri-Lanka-s-LPG-needs-for-2026/44-785210
Construction sector to pivot towards rebuilding and climate resilience: Access Engineering
• Around 230 major roads impassable and at least 10 bridges damaged across the island, severely disrupting connectivity and logistics chains
• Funding likely to be allocated to time-sensitive reconstruction projects, says Access Engineering Deputy Chairman
• Approximately Rs. 342 bn specifically for roads and highway development
ADB approves support to strengthen power sector reforms
ADB has approved a US$100 million policy-based loan to advance Sri Lanka’s power sector reforms, supporting the unbundling of the CEB, strengthening financial sustainability, promoting renewable energy and private sector participation, and enhancing social inclusion through targeted support measures.
Central Bank willing to provide liquidity support to banks should there be any need
The Central Bank signaled readiness to provide liquidity support to banks if needed due to flood-related economic impacts, with Governor Nandalal Weerasinghe noting that while no such need has arisen yet, the Bank stands prepared under the provisions of the new Central Bank Act.
Extended Fund Facility: IMF to disburse $ 350 m
Sri Lanka expects to receive about $350 million as the sixth IMF tranche within two weeks, as development partners coordinated urgent humanitarian aid and pledged broader financial support for long-term recovery following Cyclone Ditwah.
https://www.themorning.lk/articles/NnIQqzBWUwC9epvx8rkw
Stock market improves by 40 % in 2025
Prime Minister Harini Amarasuriya urged tourists not to cancel travel plans after the floods, as the Sri Lanka Economic and Investment Summit highlighted the country’s continued reform progress, investment opportunities, and the need for stronger institutions, productivity, export growth, and climate-ready infrastructure to sustain long-term, inclusive economic recovery.
https://dailynews.lk/2025/12/05/business/908217/stock-market-improves-by-40-in-2025/
Assetline Finance posts Rs. 1.42 Bn PAT in 1H of FY2025/26
Assetline Finance reported a strong first half for FY 2025/26, with rapid asset and lending growth, improved profitability, strengthened capital and asset quality, and solid returns, reflecting enhanced efficiency and a more resilient financial position.
Global
Booming IT investment cushions US slowdown: World GDP Forecast edges up
Fitch Ratings says strong IT investment and wealth effects from rising equity markets are helping offset the impact of higher tariffs on the US economy, leading the agency to raise global and US growth forecasts while noting ongoing risks from elevated valuations, shifting investment trends in China, and high public borrowing worldwide.
https://www.themorning.lk/articles/Tbz3EdaSTMPy0o1xTt6j
Brazil soy exports jump 64% in November ahead of Chinese shift to US
Brazil’s soybean exports surged 64% in November to 4.2 million tons, supported by a record 2025 crop, with December shipments expected to rise sharply; meanwhile, corn exports are projected to fall slightly due to strong domestic demand from ethanol and meat industries, though year-end exports may still grow.
Indexes end near flat, supported by Fed hopes but dragged by Amazon
• Hormel Foods rises after annual profit forecast above estimates
• Salesforce climbs as FY26 outlook gets boost
• Kroger falls, Dollar General climbs after outlooks
• Indexes: Dow off 0.07%, S&P up 0.11%, Nasdaq up 0.22%
https://www.reuters.com/business/us-stock-futures-flat-investors-await-key-economic-data-2025-12-04/
Monday
1st December 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
President assures funding capacity for post-Ditwah recovery
• Says State has financial room to begin rebuilding immediately
• Rs. 30 b already available for urgent expenditure; further funds to be raised through new national recovery fund
• Emergency regulations enable accelerated reconstruction and sector-wide restoration
• International partners, private sector and overseas Sri Lankans ready to contribute to recovery effort
https://www.ft.lk/top-story/President-assures-funding-capacity-for-post-Ditwah-recovery/26-785057
Two consecutive monthly deficits narrow current account surplus in Oct.
Sri Lanka’s external sector stayed resilient in the first 10 months of 2025, supported by strong remittances, tourism, and service inflows, despite a widening trade deficit and two consecutive monthly current account deficits.
State imposes sweeping emergency powers
Sri Lanka declared a nationwide State of Public Emergency on 28 November 2025, granting authorities extensive powers over property, essential services, security operations, and detentions to manage severe weather-related disruptions and maintain public order.
https://www.ft.lk/front-page/State-imposes-sweeping-emergency-powers/44-785053
Govt. assures steady food supply despite cyclone disruptions
• Trade, Commerce, Food Security and Cooperative Development Ministry says no shortages of essential commodities
• Urges public to avoid panic buying and warns traders against unfair practices
• Flood-affected districts receiving direct deliveries through local authorities
• Importation and Customs clearance continuing without interruption
https://www.ft.lk/front-page/Govt-assures-steady-food-supply-despite-cyclone-disruptions/44-785054
Over 998,000 people affected by severe weather
• Over 330 dead, 370 missing
• Colombo, Gampaha, Puttalam and Mannar among worst affected
• Badulla and Kandy report highest fatalities
https://www.ft.lk/front-page/Over-998-000-people-affected-by-severe-weather/44-785056
Floods cause Sri Lanka estimated USD240 Mn in damages annually-WB
Sri Lanka faces rising climate risks—projected to cost up to 3.5% of GDP by 2050—but the World Bank’s CCDR says strong resilience investments and the government’s new Climate Finance Strategy can turn these threats into opportunities for greener, more inclusive growth.
Corporate Sri Lanka called on to steady economy as disaster impact deepens
• President meets with CCC to outline depth of the crisis and economic risks ahead
• President stresses cooperation of business community essential in relief efforts and safeguarding the industrial sector from slipping into regression
• Issues raised by business leaders spanned tourism, airports, transport, manufacturing continuity, workforce mobility, and risks linked to prolonged power and water disruptions
• Business leaders assert restoration of key infrastructure critical to averting supply-chain paralysis
Cyclone Ditwah prompts IRD to ease tax filing deadline
Sri Lanka’s Inland Revenue Department has extended the 2024/25 income tax return deadline to 8 December to ease compliance difficulties caused by Cyclone Ditwah.
SLTDA assures: Sri Lanka safe for tourists
Sri Lanka Tourism assured that the country remains safe and fully operational for visitors despite Cyclone Ditwah, with improving weather, ongoing safety measures, and uninterrupted tourism services as the peak December season begins.
https://www.themorning.lk/articles/TobbWszLnkjjIlrXNrvG
Consumer protection: CMTA launches ‘Buy Brand-new’ campaign
The Ceylon Motor Traders Association has launched a national campaign warning consumers about the rising risks of indirect vehicle imports and urging buyers to choose CMTA-authorised agents, highlighting safety, warranty, after-sales support, and proper regulatory compliance.
https://www.themorning.lk/articles/oa2mVOpUzqLuroGK9TAu
Subscriptions for USD 50 Mn domestic dollar bond auction scheduled from today
Sri Lanka opened subscriptions for its first post-default domestic dollar bond auction—USD 50 million in 1-, 2-, and 3-year maturities—restricted to local commercial banks and managed by the newly established Public Debt Management Office.
Workers’ remittances up 21.2% YoY to USD 712 Mn in October
Sri Lanka’s external sector in October 2025 saw record remittances and continued tourism recovery, but faced a widening trade deficit and a second monthly current account shortfall, with reserves at USD 6.2 billion and the rupee down 5% for the year.
Colombo Land moves to amalgamate Liberty Holdings
Colombo Land & Development PLC is merging its fully owned subsidiary, Liberty Holdings Ltd., into the parent company, with the amalgamation set to take effect after regulatory filings and a minimum 20-working-day notice period.
https://www.ft.lk/front-page/Colombo-Land-moves-to-amalgamate-Liberty-Holdings/44-785047
Global
OPEC+ holds oil output steady, agrees capacity mechanism
OPEC+ has decided to keep oil output unchanged for Q1 2026 while launching a new capacity-assessment mechanism for setting 2027 production quotas, prioritising market stability amid fears of a supply glut and ongoing geopolitical uncertainty.
Airbus narrows software crisis as airlines ride out A320 recall
• Airbus recalled 6,000 A320-family jets to change software
• JetBlue incident had revealed vulnerability to solar flares
• Software fix causes less weekend disruption than feared
• Airbus handling underscores PR shift since Boeing MAX crisis
Australia house prices rise but growth slows in Sydney and Melbourne, Cotality says
Australian home prices rose 1% in November, led by smaller cities like Perth and Adelaide, while gains in Sydney and Melbourne slowed amid affordability concerns and expectations of no near-term interest rate cuts.
Thursday
27th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
Reserves set to hit post-crisis high in December: CBSL Governor
• Says Govt. will receive over $ 700 m of inflows collectively from IMF and ADB
• In addition, expects stronger forex inflows via exports, workers’ remittances and tourism receipts
• Notes Nov. reserves will appear lower than Oct. due to currency fluctuations, timing effects
• Reiterates exchange rate determined by market forces, with CBSL interventions only to offset excessive volatility
• Expects 5% currency depreciation; inflation expected to rise gradually than previously forecasted, to reach 5% target by 2H 2026
https://www.ft.lk/top-story/Reserves-set-to-hit-post-crisis-high-in-December-CBSL-Governor/26-784915
CBSL holds policy rates steady
• CBSL Governor Dr. Nandalal Weerasinghe says decision is based on price stability, potential growth
• Says leading economic indicators suggest continuation of growth momentum
• Projects economy to grow by 4.5% this year
• Notes private sector credit growth expanded, no signs of overheating
https://www.ft.lk/front-page/CBSL-holds-policy-rates-steady/44-784914
Pent-up demand for vehicle imports stabilises – CBSL
Central Bank (CBSL) Governor Dr. Nandalal Weerasinghe yesterday said the surge in vehicle imports that followed the lifting of the five-year import suspension has now tapered off, with pent-up demand largely exhausted by November.
https://www.ft.lk/front-page/Pent-up-demand-for-vehicle-imports-stabilisesCBSL/44-784912
Tourism earnings to undershoot despite arrivals surge
• Lower earnings after SLTDA revises daily spending estimate
https://www.ft.lk/front-page/Tourism-earnings-to-undershoot-despite-arrivals-surge/44-784913
Apparel exports maintain momentum, up 6.1% in first 10 months of 2025 – JAAF
• Oct. exports flat with EU shipments up 12.53%, declines in US 1.92%, UK 11.99% and other markets 9.84%
• Jan.-Oct. exports up in all sectors: EU up 14.05%; US 1.37%, UK 0.98% and other markets 8.31%
UDA to lease Pettah Floating Market to Japanese investor for $ 160 m
The Urban Development Authority (UDA) is moving ahead with plans to lease the Pettah Floating Market Complex to a Japanese investor in a deal valued at $ 160 million.
Wind power plant to be constructed in Karachi-Veraval
In line with the government’s policy of maximizing the contribution of renewable energy to the country’s energy goals, a 204 MW wind power plant is to be constructed in the Kiranchi-Veravil area of the Kilinochchi district.
Currency fluctuation to stabilise: Incoming seasonal demand: CBSL
Sri Lanka’s Central Bank (CBSL) projects that the currency fluctuation that is to be seen in the coming months will stabilise demand during the festive season in December, in light of increased imports and credit growth in the local market, CBSL Governor Dr. Nandalal Weerasinghe said during the 6th Monetary Policy Review of 2025, held yesterday (26).
https://www.themorning.lk/articles/XuqRVW1iseWgZPm1VQRk
Global
Britain Raises Taxes by More Than $30 Billion in Push for ‘Stable Economy’
In announcing the measures, Rachel Reeves, the top economic official in an increasingly unpopular government, cited the forecasts for slower growth and the need to hold down debt.
https://www.nytimes.com/2025/11/26/business/uk-budget-rachel-reeves-tax-spending.html
Stocks rise on US rate cut hopes, yen still in intervention zone
SINGAPORE (Reuters) -Asian stocks rose on Thursday and the dollar was soft on growing expectations of an interest rate cut from the Federal Reserve next month, while the yen stayed in the spotlight, with traders weighing the prospect of a rate hike before the end of the year.
Tuesday
25th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
Sampath Bank leads National Transport Modernisation through New Digital Fare System
Sampath Bank PLC is advancing a major national milestone through the commencement of the pilot phase of Sri Lanka’s Bus Fare Digitalisation Project, implemented in collaboration with Ceylon Business Appliances (Pvt) Ltd and Nimbus Venture (Pvt) Ltd. The solution is being introduced through NCG Express, one of the country’s leading private bus operators, enabling commuters to make seamless digital fare payments and supporting the nation’s transition towards a modern transport environment.
https://www.dailymirror.lk/business-news/Sampath-Bank-leads-National-Transport-Modernisation-through-New-Digital-Fare-System/273-325915
Cargills ‘Village to Home’ programme empowers rural entrepreneurs
Cargills recently hosted the fourth annual Village to Home training programme at its Head Office premises, bringing together 58 small business owners, including participants from the Northern Province. The session, guided by senior officials from Cargills, covered essential topics such as quality assurance, food regulations, packaging and labelling, and strategies for listing products in modern trade. Participants also gained insights into sustainable business practices, while guidance on accessing financial products was provided by Cargills Bank, equipping them with practical tools to grow their businesses.
https://www.dailymirror.lk/business-news/Cargills-Village-to-Home-programme-empowers-rural-entrepreneurs/273-325919
Hayleys proceeds with mandatory offer for Harischandra Mills as acceptance period opens
Hayleys PLC, the diversified conglomerate controlled by billionaire businessman Dhammika Perera, has formally dispatched the offer document to the shareholders of Harischandra Mills PLC, marking the official commencement of the acceptance period for its mandatory offer. The offer was triggered by Hayleys’ acquisition of a 40.58 percent controlling stake in the Matara-based food manufacturer on October 17, 2025.
https://www.dailymirror.lk/business-news/Hayleys-proceeds-with-mandatory-offer-for-Harischandra-Mills-as-acceptance-period-opens/273-325922
Cargills Bank posts Rs.313mn profit for 9 months as loan book expands 31%
Cargills Bank PLC reported a profit after tax of Rs.313 million for the nine months ended September 30, 2025, marking an increase of Rs.155 million compared with the same period in 2024. The net interest income rose 10 percent to Rs.2,743 million, reflecting a 31 percent growth in the bank’s loan book and continued efforts to reprice the deposits and advances, in line with the prevailing market conditions.
https://www.dailymirror.lk/business-news/Cargills-Bank-posts-Rs-313mn-profit-for-9-months-as-loan-book-expands-31/273-325925
Colombo Fort Land & Building PLC divests 49.27% York Arcade holding to Lankem Ceylon
Colombo Fort Land & Building PLC announced it sold its 49.27 percent equity stake in York Arcade Holdings PLC to Lankem Ceylon PLC, a fellow subsidiary within the group, as part of an internal strategic restructuring. The transaction, carried out yesterday (November 24) through the Colombo Stock Exchange, involved the disposal of 369,495 ordinary voting shares at Rs.921.75 each.
https://www.dailymirror.lk/business-news/Colombo-Fort-Land-Building-PLC-divests-49-27-York-Arcade-holding-to-Lankem-Ceylon/273-325923
WealthTrust to list on CSE’s Diri Savi Board via Rs.7 share offer
WealthTrust Securities Limited, a long-standing player in Sri Lanka’s government securities market, is preparing to open its doors to the investing public, following an in-principle approval from the Colombo Stock Exchange (CSE) to list its ordinary voting shares on the Diri Savi Board. The company plans to offer 71,548,244 ordinary voting shares, at Rs.7 each, with subscriptions opening on December 17, 2025. The move positions WealthTrust, already one of the most strongly capitalised non-bank primary dealers, to deepen its engagement with investors as market activity continues to evolve.
https://www.dailymirror.lk/business-news/WealthTrust-to-list-on-CSEs-Diri-Savi-Board-via-Rs-7-share-offer/273-325924
Central Bank likely to hold rates at final monetary policy review
The Central Bank is expected to maintain its key policy rates at today’s final monetary policy review of 2025, as a strong private credit growth and a fragile external position outweigh the arguments for further easing. A pre-policy note published yesterday by First Capital Research (FCR) indicated a 60 percent probability of rates staying unchanged, while assigning a 40 percent probability for a rate cut, 25 basis points most likely, with a smaller chance of a 50-basis-point reduction.
https://www.dailymirror.lk/business-main/Central-Bank-likely-to-hold-rates-at-final-monetary-policy-review/245-325927
Digital property database key to meeting IMF tax reform: Treasury
Sri Lanka must put in place a comprehensive digital property database before introducing a property tax in 2027, a requirement under the International Monetary Fund’s (IMF) Extended Fund Facility, a senior official said. Treasury Secretary Dr. Harshana Suriyapperuma told a recent forum that the database must capture valuations, property types, distributions, structures and other related information to support tax administration.
https://www.dailymirror.lk/business-news/Digital-property-database-key-to-meeting-IMF-tax-reform-Treasury/273-325926
Global
Oil prices settle up 1% on bets Fed will cut US rates and doubts about Ukraine peace
Oil prices climbed about 1% on Monday on increased bets of a U.S. interest rate cut in December and mounting doubts about whether Russia will get a peace deal with Ukraine that will boost Moscow's oil exports. Brent futures rose 81 cents, or 1.3%, to settle at $63.37 a barrel. West Texas Intermediate (WTI) crude gained 78 cents, or 1.3%, to settle at $58.84.
https://www.reuters.com/business/energy/oil-falls-ukraine-peace-talks-edge-toward-solution-2025-11-24/
US and Kyiv discuss reworked plan to end war in Ukraine
U.S. and Ukrainian officials sought to narrow the gaps between them on Monday over a plan to end the war in Ukraine, after agreeing to modify a U.S. proposal that Kyiv and its European allies saw as a Kremlin wish list. In a joint statement, Washington and Kyiv said they had drafted a "refined peace framework" after talks in Geneva on Sunday. Though there were no specifics, the dialogue received a cautious welcome from some of Ukraine's allies.
https://www.reuters.com/world/europe/us-ukraine-continue-work-refined-peace-plan-end-war-with-russia-2025-11-24/
Monday
24th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
Govt. issues first post-default Domestic Dollar Bond under new PDMO
• Sri Lanka will issue $ 50 m Domestic Dollar Bond on 3 December, its first foreign-currency instrument since 2022 default
• PDMO to handle the issue, previously under purview of CBSL
• In Oct., Cabinet approved proposal for $ 100 m issue, but PDMO opts for $ 50 m
• The auction offers one-, two- and three-year maturities, with rates set through competitive bidding and subscriptions limited to local licenced commercial banks
• SLDBs were suspended in 2023 after holders exchanged $ 791.4 m for rupee Bonds under DDO, a 94.49% acceptance rate
• PDMO now centralises all public-debt functions and is central to IMF program compliance and restoring international market access
Govt. calms investors about post-2028 debt repayment capacity
• Deputy Industry and Entrepreneurship Development Minister Chathuranga Abeysinghe says external debt servicing to rise by additional $ 785 m in 2028
• Explains how reserves will be built
• NPP lawmaker says IMF gave SL a rule book, discipline and structure
https://www.ft.lk/front-page/Govt-calms-investors-about-post-2028-debt-repayment-capacity/44-784757
Deputy Minister explains lack of aggressive tax measures in Budget 2026
• Deputy Industry Minister Chathuranga Abeysinghe tells investor forum that revenue exceeds targets but base remains low
• Says Govt. aims to lower consumption taxes over time, with VAT cuts tied to improved efficiency
• SOE losses now limited to a handful, with CEB targeted to remain at break-even
• New Strategic Investment Act to establish rules-based incentives immune to political discretion
• Treasury cash buffer now exceeds Rs. 1 t, used to hold interest rates at 8%
• Renewables positioned to cut electricity costs by one third within five years
Court issues notice on IRD over new VAT refund scheme
• Exporters warn of cash-flow strain
https://www.ft.lk/front-page/Court-issues-notice-on-IRD-over-new-VAT-refund-scheme/44-784755
Unit trust industry sees strong investor activity in October
• Assets under management tops Rs. 600 b mark from Rs. 592 b in Sept.
• Draws 3,628 new unit holders bringing total to 137,224
https://www.ft.lk/front-page/Unit-trust-industry-sees-strong-investor-activity-in-October/44-784750
Govt. moves to control prices of 200 more medicines
• Reduces price of 350 essential medicines already
https://www.ft.lk/front-page/Govt-moves-to-control-prices-of-200-more-medicines/44-784690
Credit cards on rise in Q3
Sri Lanka’s total number of active credit cards saw a 5.2% increase by the third quarter of the year, from the numbers recorded by the end of 2024, data from the Central Bank of Sri Lanka (CBSL) Weekly Economic Indicators for 21 November shows.
https://www.themorning.lk/articles/JdtKlJUSCs4pqeFwLwpX
SOE debt restructuring:
The Sri Lankan Government and its State-owned carrier, SriLankan Airlines, reported that they reached an agreement in principle with an Ad Hoc Group of Bondholders, on the financial parameters of the restructuring of its debts.
https://www.themorning.lk/articles/r8WIMy4gZa4boTmdaz9u
Sri Lanka tax payers to inject Rs100bn take-over SriLankan state bank debt
ECONOMYNEXT – Sri Lanka tax payers will fork out 100 billion rupees to take over state bank loans of SriLankan Airlines with 25 billion rupees being injected in 2025, officials said, not counting the cost of restricting sovereign guaranteed bond.
Global
Chinese land, US radar and ties to Taiwan: The geopolitics rattling a tiny Pacific nation
The air above Palau's pristine waters smells of salt and breadfruit, and on calm mornings in Koror, Palau's commercial centre, the whirr of dive boat engines echoes across the bay.
https://www.bbc.com/news/articles/cql9lkv5y7zo
US, Ukraine say they have an 'updated and refined' peace framework, but questions remain
• US and Ukraine say they made progress in talks on peace plan
• US-backed plan requires Ukraine to cede territory, limit military, renounce NATO ambitions
• European leaders seek better deal for Kyiv before Trump's Thursday deadline
Wednesday
19th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
Budget 2026 projections cloud para-tariff phase-out, Arutha warns
• Think tank says export growth, diversification difficult with para-tariffs in place
• Govt. policy on para-tariff phase-out at odds with revenue estimates up to 2028
• Revenue forecasts show increasing collections from PAL, CESS and SCL despite announced phase-out
Govt. to formalise powers of Public Debt Management Office under new regulations
The Government has taken the next step toward fully operationalising the Public Debt Management Act No. 33 of 2024, with Cabinet of Ministers on Monday approving to submit newly issued regulations to Parliament for concurrence.
Sri Lanka, Denmark seal $ 39 m debt restructuring deal
Sri Lanka has signed a bilateral debt restructuring agreement with Denmark, securing the rescheduling of approximately $ 39 million in outstanding loans.
https://www.ft.lk/front-page/Sri-Lanka-Denmark-seal-39-m-debt-restructuring-deal/44-784542
MI crosses Rs. 100 b balance sheet milestone
Mercantile Investments and Finance PLC (MI) yesterday announced that its asset base reached a milestone Rs. 100 billion as of 31 October.
https://www.ft.lk/front-page/MI-crosses-Rs-100-b-balance-sheet-milestone/44-784540
LOLC Finance Rs. 15 b debenture issue gets regulatory nod
LOLC Finance yesterday said that its proposed Rs. 15 billion debenture issue has been approved by the Central Bank of Sri Lanka. The issue comprises of up to 150 million listed, rated, unsecured, senior, redeemable debentures. In September, the company said it was seeking regulatory approval for a Rs. 20 billion issue. It appears the company has now reduced the planned issue.
https://www.ft.lk/front-page/LOLC-Finance-Rs-15-b-debenture-issue-gets-regulatory-nod/44-784539
Senkadagala Finance to raise Rs. 1 b via Rights Issue
Senkadagala Finance PLC has announced a 1:20 Rights Issue to increase its stated capital at a price of Rs. 240 per share.
https://www.ft.lk/front-page/Senkadagala-Finance-to-raise-Rs-1-b-via-Rights-Issue/44-784538
Falling TDC revenue threatens rural telecom
Sri Lanka continues to see a decline in telecommunications development charge (TDC) revenue, which is meant to be allocated towards investments in telecommunications infrastructure in rural unserved and underserved areas, due to a decline in international call charge revenue, TRCSL Director Air Vice Marshall Bandula Herath said, speaking to the Committee of Public Finance on Monday (17)
https://www.themorning.lk/articles/d0Nb4uAuylxHGYyRM1SU
GRA Act to be implemented from next month
The Government has decided to implement the Gambling Regulatory Authority Act from 1 December. It is reported that President Anura Kumara Dissanayake has issued the relevant Gazette notification.
Sri Lanka power regulator drives up profits at Water Board
ECONOMYNEXT – State-run National Water Supply and Drainage Board had recorded higher profits in the first half of 2025, after electricity tariffs were cut by the Public Utilities Commission of Sri Lanka which triggered losses in the Ceylon Electricity Board.
https://economynext.com/sri-lanka-power-regulator-drives-up-profits-at-water-board-248931/
Global
US Congress approves release of Epstein files, putting matter before Trump
• Intra-Republican feud over Epstein files culminates in near-unanimous votes
• Epstein's accusers applaud lawmakers from House public gallery
• Trump expected to receive bill as early as Wednesday
As data flow revives, Fed still faces a deep policy divide
• Fed divided on rate cuts amid unclear economic data
• Fed minutes may reveal split over inflation vs. job growth
• Powell faces challenge in achieving consensus on rate policy
https://www.reuters.com/business/data-flow-revives-fed-still-faces-deep-policy-divide-2025-11-18/
Ukraine plans $44 billion claim against Russia for wartime emissions
• Ukrainian move marks first-ever claim against a country for wartime emissions
• Expert estimates war emissions nearly equal to annual amount from Ireland, Belgium, Austria combined
• Frozen Russian assets suggested for covering claims, de Klerk says
Tuesday
18th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
Sri Lanka welcomes 2 millionth visitor for 2025
• Officials say latest milestone reflects strong tourism momentum heading into 2026
• Says Sri Lanka Tourism is set to roll out major PR and digital marketing campaign, supported by free-visa initiative soon
https://www.ft.lk/top-story/Sri-Lanka-welcomes-2-millionth-visitor-for-2025/26-784491
FTZ manufacturers agree on Rs. 3,000 general wage increase for 2026
The Free Trade Zone Manufacturers' Association has approved a general wage increase of Rs. 3,000 for 2026, aligning with upcoming national minimum wage hikes and ensuring compliance with the new labour law that mandates higher statutory payments and employer obligations.
Sri Lanka gets $ 300 m ADB boost for economic reforms and tourism
Sri Lanka signed three ADB loan agreements worth $300 million to support financial sector reforms, macroeconomic stabilisation, and sustainable tourism development, including investments in key regions like Trincomalee and Dambulla.
CoPE flags major delays, cost escalations and governance issues in East Container Terminal project
• Discloses contractor claiming over Rs. 4.2 b as compensation due to entire project being delayed by 548 days
• Directs SLPA officials to submit comprehensive report detailing all relevant information relating to delay and compensation claims
• Examines issues concerning management of SLPA-owned land
Vidullanka buys 30% in SAFE Power for Rs. 225 m
Vidullanka PLC has invested Rs. 225 million to acquire a 30% stake in SAFE Power International, entering wind power development while expanding its renewable portfolio, winning key tenders, and reporting strong financial performance for the year.
https://www.ft.lk/front-page/Vidullanka-buys-30-in-SAFE-Power-for-Rs-225-m/44-784484
SL to attract Chinese tourists in Q1
Sri Lanka plans to boost Chinese tourist arrivals by opening a new Consulate General in Chengdu next year, aiming to ease travel as Chinese visits rise, while current tourism figures show strong earnings but missed annual arrival targets.
https://www.themorning.lk/articles/S1UDKVexLyRFXCBhGaTB
China-SL Cooperation: ‘Developing nations exposed to systemic risks’: Chinese envoy
At the RMB Internationalisation Forum 2025, China’s Ambassador Qi Zhenhong said the US dollar’s dominance exposes developing nations to financial risks, highlighting RMB internationalisation as a stable, market-driven alternative, while Sri Lankan and Chinese officials discussed expanding RMB-based trade, investment, and financial cooperation to strengthen economic stability.
https://www.themorning.lk/articles/wpPomyckdNDiDHYnJfhv
HNB Finance posts Rs. 620 Mn PAT, in 1H-FY 2025/26
HNB Finance PLC delivered a strong turnaround with PAT up 129% to Rs. 620 million, driven by robust lending growth, a strengthened deposit base, and improved profitability metrics including higher ROE and ROA, reflecting effective strategy execution and operational efficiency.
https://dailynews.lk/2025/11/18/business/896436/hnb-finance-posts-rs-620-mn-pat-in-1h-fy-2025-26/
Teejay Group maintains stability amid global headwinds in H1
Teejay Group reported a resilient but softer first half of FY 2025/26, with PAT down 61% due to weak global textile demand and lower capacity use, though strong liquidity, disciplined working capital management, and steady NAV growth helped maintain financial stability amid challenging market conditions.
Global
Wall Street indexes end lower; investors brace for jobs data, Nvidia results
• September jobs report expected on Thursday
• Dell drops after downgrade
• Nvidia results due on Wednesday
• Indexes: Dow down 1.2%, S&P 500 down 0.9%, Nasdaq down 0.8%
Oil slips as loadings resume at Russian hub; markets weigh sanctions impact
Oil prices slipped as Russian export loadings resumed after a brief halt from a Ukrainian strike, easing supply concerns, with Brent at $63.92 and WTI at $59.65 per barrel.
Trump's coffee tariff change helps US roasters, hurts Brazil
The U.S. removal of tariffs on most coffee bean imports is set to benefit American roasters and boost supplies from Asia and Latin America, but Brazil—still facing a steep 40% duty—will lose competitiveness and market share as buyers shift to cheaper, tariff-free origins.
Tuesday
18th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
Sri Lanka welcomes 2 millionth visitor for 2025
• Officials say latest milestone reflects strong tourism momentum heading into 2026
• Says Sri Lanka Tourism is set to roll out major PR and digital marketing campaign, supported by free-visa initiative soon
https://www.ft.lk/top-story/Sri-Lanka-welcomes-2-millionth-visitor-for-2025/26-784491
FTZ manufacturers agree on Rs. 3,000 general wage increase for 2026
The Free Trade Zone Manufacturers' Association has approved a general wage increase of Rs. 3,000 for 2026, aligning with upcoming national minimum wage hikes and ensuring compliance with the new labour law that mandates higher statutory payments and employer obligations.
Sri Lanka gets $ 300 m ADB boost for economic reforms and tourism
Sri Lanka signed three ADB loan agreements worth $300 million to support financial sector reforms, macroeconomic stabilisation, and sustainable tourism development, including investments in key regions like Trincomalee and Dambulla.
CoPE flags major delays, cost escalations and governance issues in East Container Terminal project
• Discloses contractor claiming over Rs. 4.2 b as compensation due to entire project being delayed by 548 days
• Directs SLPA officials to submit comprehensive report detailing all relevant information relating to delay and compensation claims
• Examines issues concerning management of SLPA-owned land
Vidullanka buys 30% in SAFE Power for Rs. 225 m
Vidullanka PLC has invested Rs. 225 million to acquire a 30% stake in SAFE Power International, entering wind power development while expanding its renewable portfolio, winning key tenders, and reporting strong financial performance for the year.
https://www.ft.lk/front-page/Vidullanka-buys-30-in-SAFE-Power-for-Rs-225-m/44-784484
SL to attract Chinese tourists in Q1
Sri Lanka plans to boost Chinese tourist arrivals by opening a new Consulate General in Chengdu next year, aiming to ease travel as Chinese visits rise, while current tourism figures show strong earnings but missed annual arrival targets.
https://www.themorning.lk/articles/S1UDKVexLyRFXCBhGaTB
China-SL Cooperation: ‘Developing nations exposed to systemic risks’: Chinese envoy
At the RMB Internationalisation Forum 2025, China’s Ambassador Qi Zhenhong said the US dollar’s dominance exposes developing nations to financial risks, highlighting RMB internationalisation as a stable, market-driven alternative, while Sri Lankan and Chinese officials discussed expanding RMB-based trade, investment, and financial cooperation to strengthen economic stability.
https://www.themorning.lk/articles/wpPomyckdNDiDHYnJfhv
HNB Finance posts Rs. 620 Mn PAT, in 1H-FY 2025/26
HNB Finance PLC delivered a strong turnaround with PAT up 129% to Rs. 620 million, driven by robust lending growth, a strengthened deposit base, and improved profitability metrics including higher ROE and ROA, reflecting effective strategy execution and operational efficiency.
https://dailynews.lk/2025/11/18/business/896436/hnb-finance-posts-rs-620-mn-pat-in-1h-fy-2025-26/
Teejay Group maintains stability amid global headwinds in H1
Teejay Group reported a resilient but softer first half of FY 2025/26, with PAT down 61% due to weak global textile demand and lower capacity use, though strong liquidity, disciplined working capital management, and steady NAV growth helped maintain financial stability amid challenging market conditions.
Global
Wall Street indexes end lower; investors brace for jobs data, Nvidia results
• September jobs report expected on Thursday
• Dell drops after downgrade
• Nvidia results due on Wednesday
• Indexes: Dow down 1.2%, S&P 500 down 0.9%, Nasdaq down 0.8%
Oil slips as loadings resume at Russian hub; markets weigh sanctions impact
Oil prices slipped as Russian export loadings resumed after a brief halt from a Ukrainian strike, easing supply concerns, with Brent at $63.92 and WTI at $59.65 per barrel.
Trump's coffee tariff change helps US roasters, hurts Brazil
The U.S. removal of tariffs on most coffee bean imports is set to benefit American roasters and boost supplies from Asia and Latin America, but Brazil—still facing a steep 40% duty—will lose competitiveness and market share as buyers shift to cheaper, tariff-free origins.
Monday
17th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
Sri Lanka at an advantageous position to bring in value-addition for exports: Deloitte India
Sri Lanka is at an advantageous position to bring in value-addition stages for its exports but to do so, significant focus needs to be given to bring in the necessary policies, infrastructure and administrative measures, said Deloitte India Executive Director Direct Tax Policy Vijay Chauhan.
Singapore-led consortium to build new office tower in Port City Colombo
A consortium led by Singapore-based Canary Wharf Holdings Pte Ltd is to develop a new office tower in Port City Colombo, adding to the pipeline of commercial real estate projects planned for the reclaimed business district. The 34-storey Colombo Gateway Tower One will include 28 floors of office space with a total area of 28,000 square metres, along with retail and leisure facilities, the consortium said. Construction at Plot 01-01-04 is scheduled to start in May 2026 and finish in June 2029.
Tourism earnings sticky despite rising arrivals
In what appears to be a paradox in tourism statistics, earnings from the trade have shown little movement despite monthly growth in arrivals. Earnings for October were recorded at US$ 186.1 million, a marginal change from the US$ 185.6 million recorded in the same period last year. This stagnation comes despite arrivals rising sharply to 165,193 in October from 135,907 a year ago.
https://www.dailymirror.lk/business-news/Tourism-earnings-sticky-despite-rising-arrivals/273-325159
Vehicle registrations slow in October as pent-up demand wanes
The total number of vehicles registered with the Department of Motor Traffic in October showed a slight decline to 47,685 from 48,708 units in September, a sign that the initial pent-up demand appears to be fading towards the year-end. However, this overall dip comes amid a rise in brand-new motor car registrations, including electric cars, which climbed to 799 units from 486 units in September, according to the monthly vehicle registration summary by JB Securities.
Independent advisor tells AMF shareholders to reject LB Finance offer; acceptance period extended
HNB Investment Bank, acting as the Independent Advisor, has recommended that minority shareholders of Associated Motor Finance Company PLC (AMF) reject the mandatory offer extended by LB Finance PLC.
In a filing to the Colombo Stock Exchange, the advisor stated that the offer price of Rs. 50 per share undervalues the company based on intrinsic valuation methodologies. Concurrently, LB Finance announced an extension of the offer period to November 24, 2025, to facilitate the dispatch of the advisory report.
Treasury cash returns halve as SOE levies plummet; eyes set on Rs. 98bn recovery in 2026
Despite State-Owned Enterprises (SOEs) reporting a combined profit on paper, the actual cash return to the government coffers has nearly halved in 2025, signalling a tightening fiscal squeeze driven by the collapse of profitability in the energy and aviation sectors. According to the Budget, Economic and Fiscal Position Report 2026 released by the Ministry of Finance, the collection of levies and dividends from SOEs to the Treasury plummeted to Rs. 14.6 billion in the first eight months of 2025. This is a sharp contraction from the Rs. 26.7 billion collected during the same period last year. The key 52 SOEs reported a cumulative profit of Rs. 307.5 billion for the period ending August 2025.
Sri Lanka rolls out red carpet for luxury EV brand DENZA’s first-ever South Asian launch
DENZA, the premium new energy vehicle (NEV) brand from the BYD group, was officially launched in Sri Lanka with an exclusive event at Waters Edge on November 12, 2025. Brought to market through a strategic partnership, John Keells CG Auto (JKCG Auto) introduced DENZA as Sri Lanka’s newest entry into luxury new energy mobility, offering discerning customers access to vehicles that combine European-influenced design and state-of-the-art NEV technology.
Hayleys profit rises in September quarter as domestic recovery lifts revenue
Hayleys PLC reported a stronger September quarter, supported by improving domestic demand and easing finance costs, while the diversified conglomerate continued to broaden its portfolio with strategic acquisitions and sector expansions. Quarterly consolidated revenue rose 13 percentage to Rs.138.89 billion, driven mainly by a rebound in local operations that offset global uncertainty and softer export markets. Profit after tax for the quarter climbed 13 percentage to Rs.4.39 billion, helped by a 15-percentage drop in net finance costs amid declining interest rates.
Mark and Comm presents strategic communications framework for SL’s US $ 15bn digital economy transformation
Mark and Comm (Pvt.) Ltd, Sri Lanka’s leading boutique public relations (PR) and communications agency, presented a comprehensive strategic communications and PR framework to Digital Economy Deputy Minister Eranga Weeraratne. The presentation, led by Managing Director Thanzyl Thajudeen, emphasised that world-class technology infrastructure should come with public trust, stakeholder understanding and sustained adoption. Drawing on global case studies including Singapore’s ‘Smart Nation’ initiative, Estonia’s e-governance leadership, Malaysia’s Digital Economy Blueprint and India’s Digital India programme, the framework demonstrates that successful digital transformation depends equally on communications strategy as on digital strategy.
‘Productivity name of the game to usher economic growth’
A country can avoid large current account deficits and run current account surpluses by adopting a tight fiscal policy, more taxation, controlled expenditure and the right monetary policy, which keeps real interest rates high enough, Murtaza Jafferjee, Chairman of Adovacta Institute, told the 21st AGM of the Chamber of Construction Industry (CCI) of Sri Lanka held in Colombo on Thursday (13).
Global
Oil settles up more than 2% as Russian port suspends oil exports after Ukrainian attack
Oil prices settled more than 2% higher on Friday as Russia's port of Novorossiisk halted oil exports following a Ukrainian drone attack that hit an oil depot in the Russian energy hub, stoking supply concerns.
Trump tariff rollback offers relief for Indian farmers
Indian agricultural exporters are among the winners from U.S. President Donald Trump’s exemption of dozens of food items from his reciprocal tariffs regime, which some analysts say could help to revive lost demand.
https://www.reuters.com/world/india/trump-tariff-rollback-offers-relief-indian-farmers-2025-11-16/
Wednesday
12th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
Treasury Secretary outlines 2026 Budgets’ six-pronged growth vision
• Dr. Harshana Suriyapperuma says Govt. targets 7% GDP rise via stability, transparency and digitisation at Daily FT-University of Colombo MBA Alumni Association post-Budget forum
Standard Chartered CEO hails ‘doable’ Budget 2026
• Bingumal Thewarathanthri says outlook ‘cautiously optimistic’ amid fiscal constraints and reform momentum
https://www.ft.lk/front-page/Standard-Chartered-CEO-hails-doable-Budget-2026/44-784234
Challenging revenue targets for 2026 amid rigid spending and weak welfare coverage: Economist
• Dr. Roshan Perera urges continued fiscal discipline beyond IMF program
Fitch gives positive signal about Sri Lanka’s 2026 Budget
• With $ 347 m IMF tranche on hold, Fitch gives positive message about 2026 Budget
• Says Govt. demonstrates continued commitment to fiscal consolidation, reducing debt/GDP over medium term
• Fiscal deficit seen widening to 5.1% of GDP; primary surplus easing to 2.5%
• Medium term risks remain; warns revenue slowdown, underspending on investment could test fiscal goals
• High debt levels and post-2027 repayments remain key credit vulnerabilities
https://www.ft.lk/front-page/Fitch-gives-positive-signal-about-Sri-Lanka-s-2026-Budget/44-784231
DFCC Bank sustains growth momentum in 3Q
• Posts Rs. 8.5 b core business PAT at Group level
• Bank achieves PAT of Rs. 13.3 b including disposal gain from Acuity Partners
• Group total assets up 20% to Rs. 853 b
https://www.ft.lk/front-page/DFCC-Bank-sustains-growth-momentum-in-3Q/44-784230
LOLC Finance reports Rs. 14 b 1H PAT
• Profit After Tax up sharply by 72%
• Gross lending portfolio increases 18% to Rs. 360 b
https://www.ft.lk/front-page/LOLC-Finance-reports-Rs-14-b-1H-PAT/44-784229
JKCG updates customers on detained BYD vehicles
John Keells CG Auto (JKCG) yesterday issued a statement updating its customers and stakeholders on the ongoing proceedings before the Court of Appeal regarding the detention of certain consignments of BYD vehicles by Sri Lanka Customs.
https://www.ft.lk/front-page/JKCG-updates-customers-on-detained-BYD-vehicles/44-784228
Gold prices increase by Rs. 8,000
Sri Lanka’s gold prices once again rose by Rs. 8,000 yesterday (11), following a significant increase in the price of gold in the world market.
https://www.themorning.lk/articles/JSpipg6YXO8rZG7sZhI8
Textile and apparel industry: CESS and duty revisions welcomed
The Sri Lankan Government’s consideration of providing CESS and duty revisions in its 2026 Budget provisions has been welcomed by the Sri Lanka Apparel Brands Association (SLABA), a statement released by the association said.
https://www.themorning.lk/articles/AlpF5zu9p1wS9ETjhgqe
Tax experts say lower VAT threshold could strain market
The reduction of Sri Lanka’s Value Added Tax (VAT) and Social Security Contribution Levy registration thresholds from Rs.60 million to Rs.36 million per year is expected to have a significant impact on the market next year, according to KPMG Sri Lanka Head of Tax and Regulatory Suresh Perera.
Global
Oil prices little changed as markets eye US government reopening
BEIJING, Nov 12 (Reuters) - Oil prices were little changed on Wednesday after rising in the previous session amid expectations that an end to the longest-ever U.S. government shutdown could boost demand in the world's biggest crude consuming nation.
US House returns to Washington for vote to end government shutdown
• House vote could end longest U.S. government shutdown
• Deal divides Democrats over healthcare subsidies extension
• SNAP food aid program would be secured until September 2026
Tuesday
11th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
Sri Lanka needs to move away from public underinvestment, says Deloitte SL and Maldives
Sri Lanka needs to overcome the issue of underspending that has taken place in the recent past, as it is looking at a very ambitious programme of capital expenditure for next year, said Deloitte Sri Lanka and Maldives Head of Risk and Transactions Strategy Ruvini Fernando, at a recent post-budget discussion. Over the past few years, the country has not allocated enough funds for important areas that would drive growth, such as health, education and public infrastructure and investments in these sectors have been below its peer countries, Fernando noted.
Hong Kong’s SiS Int’l invests in controlling stake in Gestetner of Ceylon
SiS International Holdings Limited recently invested in a controlling interest in Gestetner of Ceylon PLC, a leading player in the office automation sector in Sri Lanka, through World Elite Limited, one of its Hong Kong-based subsidiaries. Founded in Singapore in 1983 and started as a distributor of IT products, SiS International Holdings Limited has been listed on the Hong Kong Stock Exchange since 1992. Today, it has grown to become a dynamic leading distribution company with the largest network across five countries in Asia Pacific.
Remittances hit all-time high of US $ 712mn in October
Sri Lanka received its highest ever monthly income of US $ 712.0 million from the workers’ remittances in October, signalling that the country is in for a bumper year of income from the Sri Lankans working abroad. The October remittance income is higher than both what the country earned in the same period last year (US $ 587.7 million) and US $ 695.7 million earned in September 2025
September private credit hits Rs.236bn; highest on record
The licensed commercial banks extended a mammoth Rs.236.3 billion in new credit to the private sector in September 2025, marking a substantial 22.1 percent growth from a year earlier. The figure reflects the credit demand reaching record highs amid the rock-bottom interest rates and a rapidly expanding economy.
ADB extends US $ 100mn support to deepen fiscal reforms, transparency in SL
The Asian Development Bank (ADB) has approved a US $ 100 million financing package to strengthen Sri Lanka’s macroeconomic resilience and reinforce its reform momentum as the country continues its recovery from the 2022 economic crisis. The support comes at a critical juncture when the government is striving to sustain fiscal stability while pushing ahead with governance and structural reforms to create a more predictable and transparent investment climate.
Tourism starts November with 13% growth
Annual target under pressure
• SL welcomes nearly 62,000 visitors in first 9 days of November
• Industry is currently tracking slightly ahead of ‘Lower Scenario’ monthly target of 203,259
• Russia bounces back to second top source market
• On a cumulative basis, Sri Lanka has welcomed 1,952,577 tourists
Sri Lanka’s tourism industry has recorded a solid start to the winter season, welcoming 61,890 visitors during the first nine days of November 2025. This represents a 13.2 percent year-on-year growth compared to the approximately 54,686 tourists that arrived during the same period in 2024.
https://www.dailymirror.lk/business-main/Tourism-starts-November-with-13-growth/245-324620
Budget 2026 paves way for overall development
The 2026 budget will pave the way for overall development of economic, social and other sectors since the budget includes proposals aimed at establishing fiscal discipline in the country and putting the country on a development path, President of the Association of Economists of Sri Lanka Prof. Vijithapure Wimalarathana Thera said.
https://dailynews.lk/2025/11/11/business/892071/budget-2026-paves-way-for-overall-development/
Janashakthi Life soars Q3 with 249% surge in profits and 72% growth in new business premiums
Janashakthi Life, the flagship brand of JXG (Janashakthi Group) closed Q3 2025 solidifying its performance and growth momentum as one of Sri Lanka’s fastest-growing life insurers. The Company recorded a 72% year-on-year increase in regular new business, reaching LKR 1.227 billion. This growth was driven by an enhanced focus on customer acquisition, customer retention, product diversification and an expanding distribution network. Janashakthi Life also achieved a commendable 249% increase in net profit, amounting to LKR 2.793 billion as at the end of September 2025, compared to LKR 800 million in the same period last year. Total assets grew to LKR 41.508 billion, underscoring the company’s strong financial foundation and prudent capital management.
People’s Leasing opens 111th Branch in Eheliyagoda
People’s Leasing & Finance PLC (PLC), a leading non-bank financial institution and a subsidiary of People’s Bank in Sri Lanka, expanded its branch network, opening its 111th branch on November 4, at Kelin Veediya, Eheliyagoda.
https://dailynews.lk/2025/11/11/business/891925/peoples-leasing-opens-111th-branch-in-eheliyagoda/
Associated Motorways opens showroom in Matara
Associated Motorways (Private) Limited (AMW), a trusted name in Sri Lanka’s automotive industry, marked another milestone with the opening of its showroom in Matara. The opening ceremony took place on November 4, at Anagarika Dharmapala Mawatha, Walgama, Matara.
https://dailynews.lk/2025/11/11/business/891931/associated-motorways-opens-showroom-in-matara/
Global
Possible US shutdown end brings investor relief, fresh data focus
With an end to the U.S. government shutdown potentially on the horizon, investors who feared more economic fallout breathed easier and turned to an expected flood of delayed data to shed more light on growth and the likely path for interest rates.
Trump says US faces 'economic disaster' if Supreme Court rules against tariffs
U.S. President Donald Trump said on Monday the United States faced an economic and national security disaster if the Supreme Court ruled against his use of an emergency powers law to impose sweeping tariffs against nearly every country.
Monday
10th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
US firm AMG takes over Bogala Graphite’s owning company of German origin
AMG Critical Materials N.V. (AMG) and Asbury Carbons Inc. (Asbury Carbons) have announced the signing of a definitive agreement for AMG to sell Graphit Kropfmühl GmbH (GK) to Asbury Carbons, a portfolio company of Mill Rock Capital.
Ceylon Chamber says Budget 2026 reinforces policy stability, calls for faster reforms to achieve growth
• Seeks clarification on Economic Transformation Act and reforms to key investment institutions
• Suggests reform progress tied to B-Ready Index
• Urges fast-tracking legislation related to SOE and PPP reforms to deliver the growth dividends expected from structural measures
MSME Federation criticises Budget 2026 over VAT threshold reduction, lack of support
• Ceylon Federation of MSME President Mahendra Perera stresses many MSMEs continue to face liquidity challenges
• Plans to highlight concerns to authorities to establish practical mechanism that enables genuinely affected MSMEs
• Warns VAT threshold cut to Rs. 36 m from April 2026 will drag more small retailers into tax net
• Says 18% VAT burden will ultimately fall on consumers, worsening cost-of-living pressures
Colombo Port City can be Sri Lanka’s ‘single catalyst of growth,’ says Harsha Amarasekera
• Notes Port City Colombo can connect Sri Lanka to global service industries—fund management, fintech, arbitration and e-commerce
• Suggests Sri Lanka could position itself as a low-cost regional arbitration hub, attracting cases from India, Bangladesh and Pakistan and potentially hosting a branch of the Singapore International Arbitration Centre
• Clarifies Port City’s original incentive scheme remains intact and competitive, developed in collaboration with Finance Ministry, contrary to misconceptions of change
• Insists focus should shift from expanding tax incentives to simplifying investor entry, including streamlined visas, expatriate employment rules and EPF/ETF compliance for short-term foreign staff
• Asserts regulatory clarity on global income declarations and faster IP and trademark registration processes vital to build investor confidence
• States Commission aims to enact key legislative amendments soon under 2026 Budget to clear pending applications and improve framework in phases
Govt. slashes tax holidays for SDPs, improves disclosure
• Issues Gazette trimming tax holidays from 25 years to 10
• BOI to identify projects subject to Finance Ministry cost-benefit review
• Mandatory tax filing, disclosure of project outcomes, and ex-post monitoring introduced
• Finance Ministry to publish annual exemptions/tax expenditure reports on all SDPs
https://www.ft.lk/top-story/Govt-slashes-tax-holidays-for-SDPs-improves-disclosure/26-784132
Harsha slams 2026 Budget, decries Rs. 1 t deception
SJB MP points to Rs. 1 t deception; says Treasury overflowing while poor taxed more
• Says Budget 2026 built on broken promises, false narratives
• Labels housing, loan plans for State workers “a joke”
• Warns of new property tax and record Rs. 3.8 t borrowing
• Accuses Govt. of failing youth, SMEs and elderly
https://www.ft.lk/business/Harsha-slams-2026-Budget-decries-Rs-1-t-deception/34-784123
ADB approves $100 Mn to strengthen financial stability in Sri Lanka
The Asian Development Bank (ADB) has approved a $100 million loan to address complex and challenging structural reforms in Sri Lanka’s financial sector through better governance, continued policy reforms, and enhanced financial inclusion.
Servicing outpaces new loans: Govt. debt sees $ 1 b net increase
Sri Lanka’s outstanding central government debt has a mere net increase of $1 billion during the first nine months of this year, as debt servicing exceeded disbursements, the Finance Ministry said in a published report.
https://www.themorning.lk/articles/lpsABrb7ieAjq69KGNVn
Probe into illegal vehicle imports widens
• Investigations reveal several brands detained beyond EV models imported into SL
• Customs Spokesman confirms issues in other brands including Raize, Nissan X-Trail
• Cites discrepancies in declared engine capacities, import documentation
• Action against importers to follow completion of inquiries and pending court rulings
https://www.themorning.lk/articles/2JhdZAwj9QwPb5WI4YYt
Hemas posts 37% jump in quarterly profit on strong consumer demand, lower finance costs
Hemas Holdings PLC delivered another quarter of resilient performance in the three months ended September 2025, posting a 36.6 percent year-on-year (YoY) surge in earnings to Rs.2.1 billion.
Galadari Hotels to pump US $ 48.5mn into Colombo property upgrade
Galadari Hotels (Lanka) PLC is set to significantly boost its investment in refurbishing the landmark Galadari Hotel in Colombo, increasing the planned spend from US $ 33.5 million to US $ 48.5 million.
Losing millions in silence: Why Sri Lanka must lift palm oil ban now
The Planters’ Association of Ceylon (PA) is urging the government to act swiftly to lift the ban on oil palm cultivation, warning that with each passing day, the losses to the nation keep growing.
Global
US Senate on verge of advancing bill to end federal shutdown
• Senate bill would fund government through January 2026
• Bill would be amended to include three appropriations measures
• Democrats had resisted funding measure without healthcare fixes
• Trump pushes for direct payments over ACA subsidies
Before talks with Trump, Saudi Arabia doubles down on terms for Israel ties
o Saudi Crown Prince will meet Trump on November 18
o They are set to seal a defense pact at White House talks
o Trump wants Saudi Arabia to normalise ties with Israel
• Riyadh says that depends on roadmap to Palestinian state
Friday
7th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
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/
Thursday
6th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
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
Friday
31st October 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
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
Thursday
30th October 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
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/
Tuesday
28th October 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
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/
Monday
16th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Israel says it has launched strikes on Iran’s nuclear sites as blasts heard across country
• Israel has carried out strikes on Iran’s nuclear programme, the IDF has said, with blasts heard in Tehran
• The strikes were part of Operation Rising Lion, Israel’s PM Benjamin Netanyahu said, adding Iran was a threat to “Israel’s very survival”
• Israel has declared a state of emergency, saying the country expected retaliation
• In Jerusalem, residents were woken by sirens followed by a phone alert
• The strikes targeted “Iran’s nuclear programme and other military targets”, an Israeli official has said
https://www.bbc.com/news/live/c93ydeqyq71t?utm_campaign=WhatsApp+June+2&utm_medium=bitly&utm_source=WhatsApp2025
*Judge temporarily bars Trump from deploying National Guard troops in Los Angeles*
• Judge orders National Guard back to California control
• Trump administration appeals judge’s order barring National Guard deployment
• Protests mostly peaceful, but Trump says city would be in flames without troops
https://www.reuters.com/world/us/marines-prepare-los-angeles-deployment-protests-spread-across-us-2025-06-12/
*US Deploying FAA, NTSB Team to Assist in Air India Crash Probe*
• Air India confirms 241 of 242 passengers and crew on board have died
• London-bound flight AI171 crashed shortly after takeoff from Ahmedabad
• US is deploying investigators to assist with the probe
• Crash marks first complete loss of a Boeing 787 Dreamliner
• Boeing shares have biggest drop in two months
https://www.bloomberg.com/news/live-blog/2025-06-12/air-india-crash-live-updates?utm_source=whatsapp&utm_medium=social&utm_content=business
Friday
13th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Govt. and CBSL announce fresh relief for bank-linked SMEs amid recovery push
• CBSL issues directive on 9 June instructing banks to extend concessions to eligible SME borrowers
• Relief includes interest concessions, fresh lending and extended rescheduling deadlines
• SMEs who engaged banks for revival talks by 31 March eligible for support
• Deadline to finalise rescheduling agreements extended to 30 June
*COPA calls for audit on daily financial losses from train cancellations*
The Committee on Public Accounts has recommended an audit on the daily financial losses from train cancellations and called for a report on train delays, following concerns over reduced efficiency and inadequate management meetings at Sri Lanka Railways.
*IRD’s new risk-based VAT system promises refunds in 15 days*
• The statutory maximum for issuing refunds is set at 45 days, however, the department’s internal target for compliant taxpayers is much faster
• IRD Commissioner stressed the objective is to provide you with an even better system in its place
*Motor vehicle imports generate Rs. 149 b in taxes*
Sri Lanka Customs released nearly 50,000 motor vehicles between December 2024 and June 2025, generating Rs. 149.1 billion in tax revenue, reflecting strong progress toward the government's annual revenue targets following the lifting of the vehicle import ban.
https://www.themorning.lk/articles/BJhch1CBFyHZgqZaSRDQ
*Growth to slow to 3.5% amid crisis impact*
The World Bank projects Sri Lanka's economic growth to slow to 3.5% in 2025 due to lingering crisis impacts, structural challenges, and global uncertainties, warning that sustained recovery will hinge on reforms, debt management, and resilience to external shocks.
https://www.themorning.lk/articles/HQUygWH1Vrt36o9Ugptj
*BOND SCAM CASE: Financial Intelligence Unit ordered to appear in court*
The Colombo Magistrate's Court has ordered the Central Bank's Financial Intelligence Unit to appear on 11 December to explain its failure to submit account reports in the ongoing bond scam investigation involving Arjun Aloysius, Arjuna Mahendran, and others.
https://www.themorning.lk/articles/R8RbLmEqVXCDfv5QCNT9
*Ceylon Chamber welcomes ALSM inauguration*
The Association of Local Stationery Manufacturers (ALSM) was officially launched to unify Sri Lanka's stationery industry, aiming to promote collaboration, influence policy, and boost export potential while supporting national education and sustainable practices.
https://www.themorning.lk/articles/sWGWgmeRdU4Sx9EnmXbu
*Plans to utilize accreditation process well to boost export sector*
Trade Minister Wasantha Samarasighe emphasized that strengthening Sri Lanka's accreditation process through SLAB will boost exports, enhance global market access, and empower SMEs by ensuring product quality and international recognition.
*LOLC AL-Falaah Wadi’ah Gold Storage Facility hits Rs. 3 Bn milestone*
LOLC Al-Falaah has become the first NBFI in Sri Lanka to launch the ethical Wadi’ah Gold Storage Facility, surpassing a Rs. 3 billion portfolio by offering transparent, Sharia-compliant gold-backed cash advances that promote financial inclusion and trust among underserved communities.
*Vidullanka breaks new ground with Sri Lanka’s first-ever listed Sukuk*
• Initiative marks milestone in ethical investing and capital market diversification
• Sukuk issuance approved by CSE and SEC, raising Rs. 500 m with subscriptions opening 17 June
• Vidullanka CEO Riyaz Sangani says it offers fixed and floating return options, with investors becoming partial owners of mini hydropower plant under Shariah-compliant lease structure
• Developed with input from regulatory bodies and international Shariah scholars, backed by Fitch A+(lka) rating and led by NDB Investment Bank and Adl Capital
• Move will catalyze growth in Sri Lanka’s Islamic capital markets, provide new funding model for corporates
Thursday
12th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
President meets German counterpart in Berlin
President Anura Kumara Disanayake, who is currently on an official visit to the Federal Republic of Germany, was warmly received yesterday by German President Frank-Walter Steinmeier.
https://www.ft.lk/front-page/President-meets-German-counterpart-in-Berlin/44-777633
*Cabinet approves resumption of land acquisition for Central Expressway Phase IV*
• Compensation to be paid for previously acquired plots; new acquisitions proceed under Land Acquisition Act
• Phase IV stands at 73.2% completion; project aims to boost national connectivity
• Completion to improve access to Northern, North Central, Eastern and Central provinces
*Sri Lanka’s growth forecast to decelerate to 3.5% this year: WB*
The World Bank (WB) yesterday revealed that growth in Sri Lanka is forecast to decelerate to 3.5% this year, reflecting the scarring effects of the crisis, structural impediments to growth, and heightened global economic uncertainties.
https://www.ft.lk/front-page/Sri-Lanka-s-growth-forecast-to-decelerate-to-3-5-this-year-WB/44-777627
*World Bank cuts 2025 growth forecasts for 70% of economies*
Heightened trade tensions and policy uncertainty are expected to drive global growth down this year to its slowest pace since 2008 outside of outright global recessions, according to the World Bank’s latest Global Economic Prospects report. The turmoil has resulted in growth forecasts being cut in nearly 70% of all economies—across all regions and income groups.
https://www.ft.lk/front-page/World-Bank-cuts-2025-growth-forecasts-for-70-of-economies/44-777628
*Electricity tariffs up 15% from today*
• Tariff increase follows a comprehensive review of CEB request for an 18.3% hike
• PUCSL emphasises that decision aligns with cost-reflective pricing methodology approved by law
• Revision comes ahead of IMF First Deputy Managing Director’s visit next week
• Electricity pricing reform has been a central condition under Sri Lanka’s ongoing programme with IMF
https://www.dailymirror.lk/business-main/Electricity-tariffs-up-15-from-today/245-311318
*Sri Lanka set to outperform fiscal target for third year*
• Strong Q1 primary surplus and rising vehicle import duties drive continued overperformance
• Revenue collection agencies already exceeding targets, signaling robust economic momentum
https://www.themorning.lk/articles/6NSMvlkiPGhPATjbqXOh
*Indian visitors lead SL’s tourist arrivals*
The latest figures released by the Sri Lanka Tourism Development Authority (SLTDA) indicate that the country continues to attract a large number of tourists from India. The number of tourists who arrived in the country in the first five days of June stood at 21,293, the SLTDA stated.
https://www.themorning.lk/articles/YzrcM1KQOP5FSJ7soNQD
*NAVIGATING GLOBAL TRADE SHIFTS: Sri Lanka exports for global success*
Sri Lanka has weathered a relentless succession of economic shocks in recent years. The turmoil began with the constitutional crisis in 2018, followed by the tragic Easter Sunday attacks in 2019.
https://www.themorning.lk/articles/UO7zFpdDS71H5xZqlmZ5
*Asia sees ‘concerning’ rise in long payment delays: Report*
Companies across the Asia-Pacific region - and especially those in China - are becoming more cautious about selling on credit, as a turbulent global economy leads to a “concerning” rise in long payment delays, a new report has found.
https://www.themorning.lk/articles/bjJXmglwRF6DXiUhW71c
*Trump Says Again He’ll Set Unilateral Tariffs in Two Weeks*
President Donald Trump said he intended to send letters to trading partners in the next one to two weeks setting unilateral tariff rates, ahead of a July 9 deadline to reimpose higher duties on dozens of economies.
*Hela Apparel divests two subsidiaries for Rs. 2.7 b as part of ongoing restructuring*
It said this forms part of a broader turnaround strategy focused on structural simplification and performance improvement, with the objective of positioning its operations for recovery in the coming financial year and enhancing long-term competitiveness.
*LOFC announces mega Rs. 21 b share buy-back offer*
The LOLC Finance PLC (LOFC) Board of Directors in order to optimise its shareholder value while maintaining the company’s financial stability, has resolved to repurchase 3,519,065,138 shares at Rs. 6 each in a deal worth Rs. 21.1 billion.
https://www.ft.lk/front-page/LOFC-announces-mega-Rs-21-b-share-buy-back-offer/44-777634
Wednesday
11th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Waiting Update
Tuesday
10th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Public & Bank Holiday
Markets Closed in Sri Lanka
Monday
9th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
EDB outlines trade potential and ethical manufacturing strengths
• EDB Chairman Mangala Wijesinghe stressed on resilient and principled export economy ready to deepen ties with Chinese market
• Says China is ranked as Sri Lanka’s 10th largest export destination with value at $ 251.9 m in 2024
• Asserts significant untapped potential in both traditional and emerging product categories
• Highlights readiness to expand export footprint in China through range of high potential products including Ceylon tea, coconut-based products, processed food, fish and fishery products, spices, organic products, fruits and poultry products
*Sarvodaya Development Finance to issue first-ever Sustainable Bonds to raise Rs. 2 b*
Sarvodaya Development Finance PLC is to issue Sri Lanka’s first-ever Sustainable Bonds to raise Rs. 2 billion. Its Board of Directors last week decided to issue up to 20 million Tier 2, rated, unsecured, subordinated, redeemable high-yield Sustainable Bonds at Rs. 100 each. The issue is subject to necessary regulatory approval.
*Sigiriya’s recognition as Lanka’s first sustainable tourism destination sets benchmark”*
Deputy Minister of Tourism Prof. Ruwan Ranasinghe said that Sigiriya’s recognition as Sri Lanka’s first sustainable tourism destination sets a benchmark for similar efforts across the country.
*Sri Lanka Tourism to launch Nation Branding Campaign*
Sri Lanka Tourism is set to launch its most awaited Nation Branding Campaign on June 26, 2025, in Colombo, bringing together key players from the public and private sectors to drive a unified vision for the country’s tourism sector.
*SL aims for 50% ECT completion by end 2025*
• Construction of ECT fast-tracked after significant delays due to corruption
• $ 585 m project set for 2026 completion to enhance Colombo Port’s capacity
https://www.themorning.lk/articles/XIcT2nulIN2M1aNxOLzm
*Remittances up 18% y-o-y*
Sri Lanka’s year-on-year (y-o-y) remittances for the first five months of the year exceeded $ 3 billion in the first five months, up by 18.2% from the same period last year ($ 2.62 billion), data from the Central Bank of Sri Lanka (CBSL) shows.
https://www.themorning.lk/articles/XPdY4UJxVIP5i8UX06v3
*$ 530 m in vehicle import LCs opened*
• Govt. confirms no restrictions on vehicle types following import ban lift
• Vehicle imports align with State targets despite concerns over high prices
• IMF agreement rules out any tax cuts on vehicles for 2025
https://www.themorning.lk/articles/2Zh5KicUhzl4WhyAdlZg
*IPO momentum builds as CSE eyes derivatives market entry*
• 5-6 IPOs lined up as market hits record highs
• Foreign investor inflows remain subdued despite local rally
• CSE and India’s NCDEX shortlisted to launch SL’s first derivatives exchange
• New exchange will not be based in Port City: CSE chief
https://www.themorning.lk/articles/EoFY4OJSNhhOCYTHD1cU
*India and Sri Lanka eye dual listing to build ‘financial bridge’ between capital markets*
• Move would allow Sri Lankan firms to raise USD capital via India’s GIFT City for global expansion
• Initiative designed as a two-way partnership, with Sri Lanka also inviting Indian companies to list on the CSE
*Tourism earnings climb to US$ 1.54bn in first five months*
May tourism earnings up by 6.5% YoY to US$ 164.1mn
*Sri Lanka repays foreign debt in budget to April 2025, current spending picks up*
ECONOMYNEXT – Foreign financing of Sri Lanka’s budget was negative up to April 2025 by 27.9 billion rupees, up from 7.4 billion last year, official data shows indicating that foreign debt was being repaid on a net basis again.
*Sri Lanka’s Elephant House drinks distribution begins in India*
ECONOMYNEXT – Distribution of Elephant House beverages in India has started, under a partnership struck with Reliance Retail Ventures Limited, Ceylon Cold Stores, a unit of Sri Lanka’s John Keells Holdings said.
https://economynext.com/sri-lankas-elephant-house-drinks-distribution-begins-in-india-224527/
Friday
6th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Sugar importers warn against tax hike, say consumers will pay the price
Sugar importers have urged President Anura Kumara Dissanayake not to raise the current Rs. 50/kg import tax, warning it would inflate prices, benefit large stockholders unfairly, harm small importers, and disrupt the market, as local sugar covers only 10% of demand and is unsuitable for industrial use.
SLBFE faces CoPE scrutiny over Rs. 1 b in unauthorised spending, financial mismanagement
• CoPE uncovers SLBFE spending over Rs. 1.3 b on unapproved programs in 2024, bypassing Cabinet approval
• ‘Glocal Fair’ alone costs Rs. 1.259 b, far exceeding usual Rs. 2 m outreach allocation
• Trade stall procurement costs jump from Rs. 170,000 to Rs. 500,000 without clear explanation
• CoPE Chief accuses SLBFE of wasting funds on non-strategic, unplanned activities
• ‘Rataviruwo’ housing loan scheme fails; Rs. 100 m remains unpaid, with no beneficiary data
• Urges better use of SLBFE’s Rs. 18 b in fixed deposits
• Kuwait Compensation Fund worth Rs. 5.1 b remains underutilised; plans made for training and pensions
• Fraud surfaces in migrant worker registration, with agencies falsely claiming fee refunds
• Sub-committee to probe financial fraud by employment agencies
DFCC Bank acts as Lead Arranger in $ 100 m loan for India’s Satin Creditcare
DFCC Bank PLC has joined as a Lead Arranger in a $100 million syndicated social loan for India’s Satin Creditcare Network Ltd., supporting financial inclusion and women’s empowerment through collateral-free microloans in rural and semi-urban areas.
Salt Production: May take 3-4 months to normalise
Sri Lanka's salt production has dropped over 35% due to prolonged rains, but the Ministry of Trade assures no shortage as daily salt imports fill the gap, with normal production expected to resume in 3–4 months depending on weather conditions.
https://www.themorning.lk/articles/jniYXCKKekdPmgDOm1Ug
Sri Lanka spends Rs. 1.5 t on debt
• Over 20% of annual borrowing limit utilised for principal and interest payments by April
• Domestic debt service accounts for a large portion; GDP projection for 2025 revised down
https://www.themorning.lk/articles/G04xkM1FzDRMDdDOjftl
Oil prices slip on a Saudi price cut and a US inventory build
Crude oil prices fell as traders reacted to rising U.S. fuel inventories, Saudi Arabia's price cuts to near four-year lows, and OPEC+ plans to boost output, despite ongoing expectations of a supply surplus that has yet to materialize.
https://www.themorning.lk/articles/iHD1yj6jbns77woWSUAj
Korean Ambassador explores investment opportunities at H’tota International Port
Korean Ambassador Miyon Lee visited Hambantota International Port in May to assess its operations and discuss potential investment opportunities, with HIP promoting the port as a strategic hub for Korean trade and manufacturing.
Ceylon Chamber hosts EU Delegation
The Ceylon Chamber of Commerce hosted Poland’s Foreign Minister Radosław Sikorski and an EU delegation to strengthen EU-Sri Lanka trade and investment ties, focusing on key sectors like apparel, tourism, IT, and energy, while highlighting the private sector's role in sustainable economic collaboration.
https://www.dailynews.lk/2025/06/06/business/791434/ceylon-chamber-hosts-eu-delegation/
LOLC Group posts Rs. 41 b net profit; assets top Rs. 2 t mark
LOLC Holdings PLC reported a record after-tax profit of Rs. 41 billion for FY 2024/25—an 89% increase—driven by strong financial services performance, strategic global acquisitions, and expanding presence across over 25 countries and multiple sectors.
https://www.ft.lk/top-story/LOLC-Group-posts-Rs-41-b-net-profit-assets-top-Rs-2-t-mark/26-777362
United Motor Lanka returns to profitability after years of losses
United Motors Lanka PLC returned to profitability in FY2024/25 with a Rs. 73 million profit, driven by the lifting of Sri Lanka’s vehicle import ban, strong performance from its Dutch Lanka Trailers acquisition, and strategic shifts including local assembly, diversification, and plans to introduce electric vehicles.
https://www.themorning.lk/articles/60AEi9fJ1oXp5X3Ik2o6
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/
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/
Friday
13th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Friday
13th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Govt. and CBSL announce fresh relief for bank-linked SMEs amid recovery push
• CBSL issues directive on 9 June instructing banks to extend concessions to eligible SME borrowers
• Relief includes interest concessions, fresh lending and extended rescheduling deadlines
• SMEs who engaged banks for revival talks by 31 March eligible for support
• Deadline to finalise rescheduling agreements extended to 30 June
*COPA calls for audit on daily financial losses from train cancellations*
The Committee on Public Accounts has recommended an audit on the daily financial losses from train cancellations and called for a report on train delays, following concerns over reduced efficiency and inadequate management meetings at Sri Lanka Railways.
*IRD’s new risk-based VAT system promises refunds in 15 days*
• The statutory maximum for issuing refunds is set at 45 days, however, the department’s internal target for compliant taxpayers is much faster
• IRD Commissioner stressed the objective is to provide you with an even better system in its place
*Motor vehicle imports generate Rs. 149 b in taxes*
Sri Lanka Customs released nearly 50,000 motor vehicles between December 2024 and June 2025, generating Rs. 149.1 billion in tax revenue, reflecting strong progress toward the government's annual revenue targets following the lifting of the vehicle import ban.
https://www.themorning.lk/articles/BJhch1CBFyHZgqZaSRDQ
*Growth to slow to 3.5% amid crisis impact*
The World Bank projects Sri Lanka's economic growth to slow to 3.5% in 2025 due to lingering crisis impacts, structural challenges, and global uncertainties, warning that sustained recovery will hinge on reforms, debt management, and resilience to external shocks.
https://www.themorning.lk/articles/HQUygWH1Vrt36o9Ugptj
*BOND SCAM CASE: Financial Intelligence Unit ordered to appear in court*
The Colombo Magistrate's Court has ordered the Central Bank's Financial Intelligence Unit to appear on 11 December to explain its failure to submit account reports in the ongoing bond scam investigation involving Arjun Aloysius, Arjuna Mahendran, and others.
https://www.themorning.lk/articles/R8RbLmEqVXCDfv5QCNT9
*Ceylon Chamber welcomes ALSM inauguration*
The Association of Local Stationery Manufacturers (ALSM) was officially launched to unify Sri Lanka's stationery industry, aiming to promote collaboration, influence policy, and boost export potential while supporting national education and sustainable practices.
https://www.themorning.lk/articles/sWGWgmeRdU4Sx9EnmXbu
*Plans to utilize accreditation process well to boost export sector*
Trade Minister Wasantha Samarasighe emphasized that strengthening Sri Lanka's accreditation process through SLAB will boost exports, enhance global market access, and empower SMEs by ensuring product quality and international recognition.
*LOLC AL-Falaah Wadi’ah Gold Storage Facility hits Rs. 3 Bn milestone*
LOLC Al-Falaah has become the first NBFI in Sri Lanka to launch the ethical Wadi’ah Gold Storage Facility, surpassing a Rs. 3 billion portfolio by offering transparent, Sharia-compliant gold-backed cash advances that promote financial inclusion and trust among underserved communities.
*Vidullanka breaks new ground with Sri Lanka’s first-ever listed Sukuk*
• Initiative marks milestone in ethical investing and capital market diversification
• Sukuk issuance approved by CSE and SEC, raising Rs. 500 m with subscriptions opening 17 June
• Vidullanka CEO Riyaz Sangani says it offers fixed and floating return options, with investors becoming partial owners of mini hydropower plant under Shariah-compliant lease structure
• Developed with input from regulatory bodies and international Shariah scholars, backed by Fitch A+(lka) rating and led by NDB Investment Bank and Adl Capital
• Move will catalyze growth in Sri Lanka’s Islamic capital markets, provide new funding model for corporates
Thursday
27th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
Reserves set to hit post-crisis high in December: CBSL Governor
• Says Govt. will receive over $ 700 m of inflows collectively from IMF and ADB
• In addition, expects stronger forex inflows via exports, workers’ remittances and tourism receipts
• Notes Nov. reserves will appear lower than Oct. due to currency fluctuations, timing effects
• Reiterates exchange rate determined by market forces, with CBSL interventions only to offset excessive volatility
• Expects 5% currency depreciation; inflation expected to rise gradually than previously forecasted, to reach 5% target by 2H 2026
https://www.ft.lk/top-story/Reserves-set-to-hit-post-crisis-high-in-December-CBSL-Governor/26-784915
CBSL holds policy rates steady
• CBSL Governor Dr. Nandalal Weerasinghe says decision is based on price stability, potential growth
• Says leading economic indicators suggest continuation of growth momentum
• Projects economy to grow by 4.5% this year
• Notes private sector credit growth expanded, no signs of overheating
https://www.ft.lk/front-page/CBSL-holds-policy-rates-steady/44-784914
Pent-up demand for vehicle imports stabilises – CBSL
Central Bank (CBSL) Governor Dr. Nandalal Weerasinghe yesterday said the surge in vehicle imports that followed the lifting of the five-year import suspension has now tapered off, with pent-up demand largely exhausted by November.
https://www.ft.lk/front-page/Pent-up-demand-for-vehicle-imports-stabilisesCBSL/44-784912
Tourism earnings to undershoot despite arrivals surge
• Lower earnings after SLTDA revises daily spending estimate
https://www.ft.lk/front-page/Tourism-earnings-to-undershoot-despite-arrivals-surge/44-784913
Apparel exports maintain momentum, up 6.1% in first 10 months of 2025 – JAAF
• Oct. exports flat with EU shipments up 12.53%, declines in US 1.92%, UK 11.99% and other markets 9.84%
• Jan.-Oct. exports up in all sectors: EU up 14.05%; US 1.37%, UK 0.98% and other markets 8.31%
UDA to lease Pettah Floating Market to Japanese investor for $ 160 m
The Urban Development Authority (UDA) is moving ahead with plans to lease the Pettah Floating Market Complex to a Japanese investor in a deal valued at $ 160 million.
Wind power plant to be constructed in Karachi-Veraval
In line with the government’s policy of maximizing the contribution of renewable energy to the country’s energy goals, a 204 MW wind power plant is to be constructed in the Kiranchi-Veravil area of the Kilinochchi district.
Currency fluctuation to stabilise: Incoming seasonal demand: CBSL
Sri Lanka’s Central Bank (CBSL) projects that the currency fluctuation that is to be seen in the coming months will stabilise demand during the festive season in December, in light of increased imports and credit growth in the local market, CBSL Governor Dr. Nandalal Weerasinghe said during the 6th Monetary Policy Review of 2025, held yesterday (26).
https://www.themorning.lk/articles/XuqRVW1iseWgZPm1VQRk
Global
Britain Raises Taxes by More Than $30 Billion in Push for ‘Stable Economy’
In announcing the measures, Rachel Reeves, the top economic official in an increasingly unpopular government, cited the forecasts for slower growth and the need to hold down debt.
https://www.nytimes.com/2025/11/26/business/uk-budget-rachel-reeves-tax-spending.html
Stocks rise on US rate cut hopes, yen still in intervention zone
SINGAPORE (Reuters) -Asian stocks rose on Thursday and the dollar was soft on growing expectations of an interest rate cut from the Federal Reserve next month, while the yen stayed in the spotlight, with traders weighing the prospect of a rate hike before the end of the year.
Tuesday
25th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
Sampath Bank leads National Transport Modernisation through New Digital Fare System
Sampath Bank PLC is advancing a major national milestone through the commencement of the pilot phase of Sri Lanka’s Bus Fare Digitalisation Project, implemented in collaboration with Ceylon Business Appliances (Pvt) Ltd and Nimbus Venture (Pvt) Ltd. The solution is being introduced through NCG Express, one of the country’s leading private bus operators, enabling commuters to make seamless digital fare payments and supporting the nation’s transition towards a modern transport environment.
https://www.dailymirror.lk/business-news/Sampath-Bank-leads-National-Transport-Modernisation-through-New-Digital-Fare-System/273-325915
Cargills ‘Village to Home’ programme empowers rural entrepreneurs
Cargills recently hosted the fourth annual Village to Home training programme at its Head Office premises, bringing together 58 small business owners, including participants from the Northern Province. The session, guided by senior officials from Cargills, covered essential topics such as quality assurance, food regulations, packaging and labelling, and strategies for listing products in modern trade. Participants also gained insights into sustainable business practices, while guidance on accessing financial products was provided by Cargills Bank, equipping them with practical tools to grow their businesses.
https://www.dailymirror.lk/business-news/Cargills-Village-to-Home-programme-empowers-rural-entrepreneurs/273-325919
Hayleys proceeds with mandatory offer for Harischandra Mills as acceptance period opens
Hayleys PLC, the diversified conglomerate controlled by billionaire businessman Dhammika Perera, has formally dispatched the offer document to the shareholders of Harischandra Mills PLC, marking the official commencement of the acceptance period for its mandatory offer. The offer was triggered by Hayleys’ acquisition of a 40.58 percent controlling stake in the Matara-based food manufacturer on October 17, 2025.
https://www.dailymirror.lk/business-news/Hayleys-proceeds-with-mandatory-offer-for-Harischandra-Mills-as-acceptance-period-opens/273-325922
Cargills Bank posts Rs.313mn profit for 9 months as loan book expands 31%
Cargills Bank PLC reported a profit after tax of Rs.313 million for the nine months ended September 30, 2025, marking an increase of Rs.155 million compared with the same period in 2024. The net interest income rose 10 percent to Rs.2,743 million, reflecting a 31 percent growth in the bank’s loan book and continued efforts to reprice the deposits and advances, in line with the prevailing market conditions.
https://www.dailymirror.lk/business-news/Cargills-Bank-posts-Rs-313mn-profit-for-9-months-as-loan-book-expands-31/273-325925
Colombo Fort Land & Building PLC divests 49.27% York Arcade holding to Lankem Ceylon
Colombo Fort Land & Building PLC announced it sold its 49.27 percent equity stake in York Arcade Holdings PLC to Lankem Ceylon PLC, a fellow subsidiary within the group, as part of an internal strategic restructuring. The transaction, carried out yesterday (November 24) through the Colombo Stock Exchange, involved the disposal of 369,495 ordinary voting shares at Rs.921.75 each.
https://www.dailymirror.lk/business-news/Colombo-Fort-Land-Building-PLC-divests-49-27-York-Arcade-holding-to-Lankem-Ceylon/273-325923
WealthTrust to list on CSE’s Diri Savi Board via Rs.7 share offer
WealthTrust Securities Limited, a long-standing player in Sri Lanka’s government securities market, is preparing to open its doors to the investing public, following an in-principle approval from the Colombo Stock Exchange (CSE) to list its ordinary voting shares on the Diri Savi Board. The company plans to offer 71,548,244 ordinary voting shares, at Rs.7 each, with subscriptions opening on December 17, 2025. The move positions WealthTrust, already one of the most strongly capitalised non-bank primary dealers, to deepen its engagement with investors as market activity continues to evolve.
https://www.dailymirror.lk/business-news/WealthTrust-to-list-on-CSEs-Diri-Savi-Board-via-Rs-7-share-offer/273-325924
Central Bank likely to hold rates at final monetary policy review
The Central Bank is expected to maintain its key policy rates at today’s final monetary policy review of 2025, as a strong private credit growth and a fragile external position outweigh the arguments for further easing. A pre-policy note published yesterday by First Capital Research (FCR) indicated a 60 percent probability of rates staying unchanged, while assigning a 40 percent probability for a rate cut, 25 basis points most likely, with a smaller chance of a 50-basis-point reduction.
https://www.dailymirror.lk/business-main/Central-Bank-likely-to-hold-rates-at-final-monetary-policy-review/245-325927
Digital property database key to meeting IMF tax reform: Treasury
Sri Lanka must put in place a comprehensive digital property database before introducing a property tax in 2027, a requirement under the International Monetary Fund’s (IMF) Extended Fund Facility, a senior official said. Treasury Secretary Dr. Harshana Suriyapperuma told a recent forum that the database must capture valuations, property types, distributions, structures and other related information to support tax administration.
https://www.dailymirror.lk/business-news/Digital-property-database-key-to-meeting-IMF-tax-reform-Treasury/273-325926
Global
Oil prices settle up 1% on bets Fed will cut US rates and doubts about Ukraine peace
Oil prices climbed about 1% on Monday on increased bets of a U.S. interest rate cut in December and mounting doubts about whether Russia will get a peace deal with Ukraine that will boost Moscow's oil exports. Brent futures rose 81 cents, or 1.3%, to settle at $63.37 a barrel. West Texas Intermediate (WTI) crude gained 78 cents, or 1.3%, to settle at $58.84.
https://www.reuters.com/business/energy/oil-falls-ukraine-peace-talks-edge-toward-solution-2025-11-24/
US and Kyiv discuss reworked plan to end war in Ukraine
U.S. and Ukrainian officials sought to narrow the gaps between them on Monday over a plan to end the war in Ukraine, after agreeing to modify a U.S. proposal that Kyiv and its European allies saw as a Kremlin wish list. In a joint statement, Washington and Kyiv said they had drafted a "refined peace framework" after talks in Geneva on Sunday. Though there were no specifics, the dialogue received a cautious welcome from some of Ukraine's allies.
https://www.reuters.com/world/europe/us-ukraine-continue-work-refined-peace-plan-end-war-with-russia-2025-11-24/
Monday
24th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
Govt. issues first post-default Domestic Dollar Bond under new PDMO
• Sri Lanka will issue $ 50 m Domestic Dollar Bond on 3 December, its first foreign-currency instrument since 2022 default
• PDMO to handle the issue, previously under purview of CBSL
• In Oct., Cabinet approved proposal for $ 100 m issue, but PDMO opts for $ 50 m
• The auction offers one-, two- and three-year maturities, with rates set through competitive bidding and subscriptions limited to local licenced commercial banks
• SLDBs were suspended in 2023 after holders exchanged $ 791.4 m for rupee Bonds under DDO, a 94.49% acceptance rate
• PDMO now centralises all public-debt functions and is central to IMF program compliance and restoring international market access
Govt. calms investors about post-2028 debt repayment capacity
• Deputy Industry and Entrepreneurship Development Minister Chathuranga Abeysinghe says external debt servicing to rise by additional $ 785 m in 2028
• Explains how reserves will be built
• NPP lawmaker says IMF gave SL a rule book, discipline and structure
https://www.ft.lk/front-page/Govt-calms-investors-about-post-2028-debt-repayment-capacity/44-784757
Deputy Minister explains lack of aggressive tax measures in Budget 2026
• Deputy Industry Minister Chathuranga Abeysinghe tells investor forum that revenue exceeds targets but base remains low
• Says Govt. aims to lower consumption taxes over time, with VAT cuts tied to improved efficiency
• SOE losses now limited to a handful, with CEB targeted to remain at break-even
• New Strategic Investment Act to establish rules-based incentives immune to political discretion
• Treasury cash buffer now exceeds Rs. 1 t, used to hold interest rates at 8%
• Renewables positioned to cut electricity costs by one third within five years
Court issues notice on IRD over new VAT refund scheme
• Exporters warn of cash-flow strain
https://www.ft.lk/front-page/Court-issues-notice-on-IRD-over-new-VAT-refund-scheme/44-784755
Unit trust industry sees strong investor activity in October
• Assets under management tops Rs. 600 b mark from Rs. 592 b in Sept.
• Draws 3,628 new unit holders bringing total to 137,224
https://www.ft.lk/front-page/Unit-trust-industry-sees-strong-investor-activity-in-October/44-784750
Govt. moves to control prices of 200 more medicines
• Reduces price of 350 essential medicines already
https://www.ft.lk/front-page/Govt-moves-to-control-prices-of-200-more-medicines/44-784690
Credit cards on rise in Q3
Sri Lanka’s total number of active credit cards saw a 5.2% increase by the third quarter of the year, from the numbers recorded by the end of 2024, data from the Central Bank of Sri Lanka (CBSL) Weekly Economic Indicators for 21 November shows.
https://www.themorning.lk/articles/JdtKlJUSCs4pqeFwLwpX
SOE debt restructuring:
The Sri Lankan Government and its State-owned carrier, SriLankan Airlines, reported that they reached an agreement in principle with an Ad Hoc Group of Bondholders, on the financial parameters of the restructuring of its debts.
https://www.themorning.lk/articles/r8WIMy4gZa4boTmdaz9u
Sri Lanka tax payers to inject Rs100bn take-over SriLankan state bank debt
ECONOMYNEXT – Sri Lanka tax payers will fork out 100 billion rupees to take over state bank loans of SriLankan Airlines with 25 billion rupees being injected in 2025, officials said, not counting the cost of restricting sovereign guaranteed bond.
Global
Chinese land, US radar and ties to Taiwan: The geopolitics rattling a tiny Pacific nation
The air above Palau's pristine waters smells of salt and breadfruit, and on calm mornings in Koror, Palau's commercial centre, the whirr of dive boat engines echoes across the bay.
https://www.bbc.com/news/articles/cql9lkv5y7zo
US, Ukraine say they have an 'updated and refined' peace framework, but questions remain
• US and Ukraine say they made progress in talks on peace plan
• US-backed plan requires Ukraine to cede territory, limit military, renounce NATO ambitions
• European leaders seek better deal for Kyiv before Trump's Thursday deadline
Wednesday
19th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
Budget 2026 projections cloud para-tariff phase-out, Arutha warns
• Think tank says export growth, diversification difficult with para-tariffs in place
• Govt. policy on para-tariff phase-out at odds with revenue estimates up to 2028
• Revenue forecasts show increasing collections from PAL, CESS and SCL despite announced phase-out
Govt. to formalise powers of Public Debt Management Office under new regulations
The Government has taken the next step toward fully operationalising the Public Debt Management Act No. 33 of 2024, with Cabinet of Ministers on Monday approving to submit newly issued regulations to Parliament for concurrence.
Sri Lanka, Denmark seal $ 39 m debt restructuring deal
Sri Lanka has signed a bilateral debt restructuring agreement with Denmark, securing the rescheduling of approximately $ 39 million in outstanding loans.
https://www.ft.lk/front-page/Sri-Lanka-Denmark-seal-39-m-debt-restructuring-deal/44-784542
MI crosses Rs. 100 b balance sheet milestone
Mercantile Investments and Finance PLC (MI) yesterday announced that its asset base reached a milestone Rs. 100 billion as of 31 October.
https://www.ft.lk/front-page/MI-crosses-Rs-100-b-balance-sheet-milestone/44-784540
LOLC Finance Rs. 15 b debenture issue gets regulatory nod
LOLC Finance yesterday said that its proposed Rs. 15 billion debenture issue has been approved by the Central Bank of Sri Lanka. The issue comprises of up to 150 million listed, rated, unsecured, senior, redeemable debentures. In September, the company said it was seeking regulatory approval for a Rs. 20 billion issue. It appears the company has now reduced the planned issue.
https://www.ft.lk/front-page/LOLC-Finance-Rs-15-b-debenture-issue-gets-regulatory-nod/44-784539
Senkadagala Finance to raise Rs. 1 b via Rights Issue
Senkadagala Finance PLC has announced a 1:20 Rights Issue to increase its stated capital at a price of Rs. 240 per share.
https://www.ft.lk/front-page/Senkadagala-Finance-to-raise-Rs-1-b-via-Rights-Issue/44-784538
Falling TDC revenue threatens rural telecom
Sri Lanka continues to see a decline in telecommunications development charge (TDC) revenue, which is meant to be allocated towards investments in telecommunications infrastructure in rural unserved and underserved areas, due to a decline in international call charge revenue, TRCSL Director Air Vice Marshall Bandula Herath said, speaking to the Committee of Public Finance on Monday (17)
https://www.themorning.lk/articles/d0Nb4uAuylxHGYyRM1SU
GRA Act to be implemented from next month
The Government has decided to implement the Gambling Regulatory Authority Act from 1 December. It is reported that President Anura Kumara Dissanayake has issued the relevant Gazette notification.
Sri Lanka power regulator drives up profits at Water Board
ECONOMYNEXT – State-run National Water Supply and Drainage Board had recorded higher profits in the first half of 2025, after electricity tariffs were cut by the Public Utilities Commission of Sri Lanka which triggered losses in the Ceylon Electricity Board.
https://economynext.com/sri-lanka-power-regulator-drives-up-profits-at-water-board-248931/
Global
US Congress approves release of Epstein files, putting matter before Trump
• Intra-Republican feud over Epstein files culminates in near-unanimous votes
• Epstein's accusers applaud lawmakers from House public gallery
• Trump expected to receive bill as early as Wednesday
As data flow revives, Fed still faces a deep policy divide
• Fed divided on rate cuts amid unclear economic data
• Fed minutes may reveal split over inflation vs. job growth
• Powell faces challenge in achieving consensus on rate policy
https://www.reuters.com/business/data-flow-revives-fed-still-faces-deep-policy-divide-2025-11-18/
Ukraine plans $44 billion claim against Russia for wartime emissions
• Ukrainian move marks first-ever claim against a country for wartime emissions
• Expert estimates war emissions nearly equal to annual amount from Ireland, Belgium, Austria combined
• Frozen Russian assets suggested for covering claims, de Klerk says
Tuesday
18th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
Sri Lanka welcomes 2 millionth visitor for 2025
• Officials say latest milestone reflects strong tourism momentum heading into 2026
• Says Sri Lanka Tourism is set to roll out major PR and digital marketing campaign, supported by free-visa initiative soon
https://www.ft.lk/top-story/Sri-Lanka-welcomes-2-millionth-visitor-for-2025/26-784491
FTZ manufacturers agree on Rs. 3,000 general wage increase for 2026
The Free Trade Zone Manufacturers' Association has approved a general wage increase of Rs. 3,000 for 2026, aligning with upcoming national minimum wage hikes and ensuring compliance with the new labour law that mandates higher statutory payments and employer obligations.
Sri Lanka gets $ 300 m ADB boost for economic reforms and tourism
Sri Lanka signed three ADB loan agreements worth $300 million to support financial sector reforms, macroeconomic stabilisation, and sustainable tourism development, including investments in key regions like Trincomalee and Dambulla.
CoPE flags major delays, cost escalations and governance issues in East Container Terminal project
• Discloses contractor claiming over Rs. 4.2 b as compensation due to entire project being delayed by 548 days
• Directs SLPA officials to submit comprehensive report detailing all relevant information relating to delay and compensation claims
• Examines issues concerning management of SLPA-owned land
Vidullanka buys 30% in SAFE Power for Rs. 225 m
Vidullanka PLC has invested Rs. 225 million to acquire a 30% stake in SAFE Power International, entering wind power development while expanding its renewable portfolio, winning key tenders, and reporting strong financial performance for the year.
https://www.ft.lk/front-page/Vidullanka-buys-30-in-SAFE-Power-for-Rs-225-m/44-784484
SL to attract Chinese tourists in Q1
Sri Lanka plans to boost Chinese tourist arrivals by opening a new Consulate General in Chengdu next year, aiming to ease travel as Chinese visits rise, while current tourism figures show strong earnings but missed annual arrival targets.
https://www.themorning.lk/articles/S1UDKVexLyRFXCBhGaTB
China-SL Cooperation: ‘Developing nations exposed to systemic risks’: Chinese envoy
At the RMB Internationalisation Forum 2025, China’s Ambassador Qi Zhenhong said the US dollar’s dominance exposes developing nations to financial risks, highlighting RMB internationalisation as a stable, market-driven alternative, while Sri Lankan and Chinese officials discussed expanding RMB-based trade, investment, and financial cooperation to strengthen economic stability.
https://www.themorning.lk/articles/wpPomyckdNDiDHYnJfhv
HNB Finance posts Rs. 620 Mn PAT, in 1H-FY 2025/26
HNB Finance PLC delivered a strong turnaround with PAT up 129% to Rs. 620 million, driven by robust lending growth, a strengthened deposit base, and improved profitability metrics including higher ROE and ROA, reflecting effective strategy execution and operational efficiency.
https://dailynews.lk/2025/11/18/business/896436/hnb-finance-posts-rs-620-mn-pat-in-1h-fy-2025-26/
Teejay Group maintains stability amid global headwinds in H1
Teejay Group reported a resilient but softer first half of FY 2025/26, with PAT down 61% due to weak global textile demand and lower capacity use, though strong liquidity, disciplined working capital management, and steady NAV growth helped maintain financial stability amid challenging market conditions.
Global
Wall Street indexes end lower; investors brace for jobs data, Nvidia results
• September jobs report expected on Thursday
• Dell drops after downgrade
• Nvidia results due on Wednesday
• Indexes: Dow down 1.2%, S&P 500 down 0.9%, Nasdaq down 0.8%
Oil slips as loadings resume at Russian hub; markets weigh sanctions impact
Oil prices slipped as Russian export loadings resumed after a brief halt from a Ukrainian strike, easing supply concerns, with Brent at $63.92 and WTI at $59.65 per barrel.
Trump's coffee tariff change helps US roasters, hurts Brazil
The U.S. removal of tariffs on most coffee bean imports is set to benefit American roasters and boost supplies from Asia and Latin America, but Brazil—still facing a steep 40% duty—will lose competitiveness and market share as buyers shift to cheaper, tariff-free origins.
Tuesday
18th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
Sri Lanka welcomes 2 millionth visitor for 2025
• Officials say latest milestone reflects strong tourism momentum heading into 2026
• Says Sri Lanka Tourism is set to roll out major PR and digital marketing campaign, supported by free-visa initiative soon
https://www.ft.lk/top-story/Sri-Lanka-welcomes-2-millionth-visitor-for-2025/26-784491
FTZ manufacturers agree on Rs. 3,000 general wage increase for 2026
The Free Trade Zone Manufacturers' Association has approved a general wage increase of Rs. 3,000 for 2026, aligning with upcoming national minimum wage hikes and ensuring compliance with the new labour law that mandates higher statutory payments and employer obligations.
Sri Lanka gets $ 300 m ADB boost for economic reforms and tourism
Sri Lanka signed three ADB loan agreements worth $300 million to support financial sector reforms, macroeconomic stabilisation, and sustainable tourism development, including investments in key regions like Trincomalee and Dambulla.
CoPE flags major delays, cost escalations and governance issues in East Container Terminal project
• Discloses contractor claiming over Rs. 4.2 b as compensation due to entire project being delayed by 548 days
• Directs SLPA officials to submit comprehensive report detailing all relevant information relating to delay and compensation claims
• Examines issues concerning management of SLPA-owned land
Vidullanka buys 30% in SAFE Power for Rs. 225 m
Vidullanka PLC has invested Rs. 225 million to acquire a 30% stake in SAFE Power International, entering wind power development while expanding its renewable portfolio, winning key tenders, and reporting strong financial performance for the year.
https://www.ft.lk/front-page/Vidullanka-buys-30-in-SAFE-Power-for-Rs-225-m/44-784484
SL to attract Chinese tourists in Q1
Sri Lanka plans to boost Chinese tourist arrivals by opening a new Consulate General in Chengdu next year, aiming to ease travel as Chinese visits rise, while current tourism figures show strong earnings but missed annual arrival targets.
https://www.themorning.lk/articles/S1UDKVexLyRFXCBhGaTB
China-SL Cooperation: ‘Developing nations exposed to systemic risks’: Chinese envoy
At the RMB Internationalisation Forum 2025, China’s Ambassador Qi Zhenhong said the US dollar’s dominance exposes developing nations to financial risks, highlighting RMB internationalisation as a stable, market-driven alternative, while Sri Lankan and Chinese officials discussed expanding RMB-based trade, investment, and financial cooperation to strengthen economic stability.
https://www.themorning.lk/articles/wpPomyckdNDiDHYnJfhv
HNB Finance posts Rs. 620 Mn PAT, in 1H-FY 2025/26
HNB Finance PLC delivered a strong turnaround with PAT up 129% to Rs. 620 million, driven by robust lending growth, a strengthened deposit base, and improved profitability metrics including higher ROE and ROA, reflecting effective strategy execution and operational efficiency.
https://dailynews.lk/2025/11/18/business/896436/hnb-finance-posts-rs-620-mn-pat-in-1h-fy-2025-26/
Teejay Group maintains stability amid global headwinds in H1
Teejay Group reported a resilient but softer first half of FY 2025/26, with PAT down 61% due to weak global textile demand and lower capacity use, though strong liquidity, disciplined working capital management, and steady NAV growth helped maintain financial stability amid challenging market conditions.
Global
Wall Street indexes end lower; investors brace for jobs data, Nvidia results
• September jobs report expected on Thursday
• Dell drops after downgrade
• Nvidia results due on Wednesday
• Indexes: Dow down 1.2%, S&P 500 down 0.9%, Nasdaq down 0.8%
Oil slips as loadings resume at Russian hub; markets weigh sanctions impact
Oil prices slipped as Russian export loadings resumed after a brief halt from a Ukrainian strike, easing supply concerns, with Brent at $63.92 and WTI at $59.65 per barrel.
Trump's coffee tariff change helps US roasters, hurts Brazil
The U.S. removal of tariffs on most coffee bean imports is set to benefit American roasters and boost supplies from Asia and Latin America, but Brazil—still facing a steep 40% duty—will lose competitiveness and market share as buyers shift to cheaper, tariff-free origins.
Monday
17th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
Sri Lanka at an advantageous position to bring in value-addition for exports: Deloitte India
Sri Lanka is at an advantageous position to bring in value-addition stages for its exports but to do so, significant focus needs to be given to bring in the necessary policies, infrastructure and administrative measures, said Deloitte India Executive Director Direct Tax Policy Vijay Chauhan.
Singapore-led consortium to build new office tower in Port City Colombo
A consortium led by Singapore-based Canary Wharf Holdings Pte Ltd is to develop a new office tower in Port City Colombo, adding to the pipeline of commercial real estate projects planned for the reclaimed business district. The 34-storey Colombo Gateway Tower One will include 28 floors of office space with a total area of 28,000 square metres, along with retail and leisure facilities, the consortium said. Construction at Plot 01-01-04 is scheduled to start in May 2026 and finish in June 2029.
Tourism earnings sticky despite rising arrivals
In what appears to be a paradox in tourism statistics, earnings from the trade have shown little movement despite monthly growth in arrivals. Earnings for October were recorded at US$ 186.1 million, a marginal change from the US$ 185.6 million recorded in the same period last year. This stagnation comes despite arrivals rising sharply to 165,193 in October from 135,907 a year ago.
https://www.dailymirror.lk/business-news/Tourism-earnings-sticky-despite-rising-arrivals/273-325159
Vehicle registrations slow in October as pent-up demand wanes
The total number of vehicles registered with the Department of Motor Traffic in October showed a slight decline to 47,685 from 48,708 units in September, a sign that the initial pent-up demand appears to be fading towards the year-end. However, this overall dip comes amid a rise in brand-new motor car registrations, including electric cars, which climbed to 799 units from 486 units in September, according to the monthly vehicle registration summary by JB Securities.
Independent advisor tells AMF shareholders to reject LB Finance offer; acceptance period extended
HNB Investment Bank, acting as the Independent Advisor, has recommended that minority shareholders of Associated Motor Finance Company PLC (AMF) reject the mandatory offer extended by LB Finance PLC.
In a filing to the Colombo Stock Exchange, the advisor stated that the offer price of Rs. 50 per share undervalues the company based on intrinsic valuation methodologies. Concurrently, LB Finance announced an extension of the offer period to November 24, 2025, to facilitate the dispatch of the advisory report.
Treasury cash returns halve as SOE levies plummet; eyes set on Rs. 98bn recovery in 2026
Despite State-Owned Enterprises (SOEs) reporting a combined profit on paper, the actual cash return to the government coffers has nearly halved in 2025, signalling a tightening fiscal squeeze driven by the collapse of profitability in the energy and aviation sectors. According to the Budget, Economic and Fiscal Position Report 2026 released by the Ministry of Finance, the collection of levies and dividends from SOEs to the Treasury plummeted to Rs. 14.6 billion in the first eight months of 2025. This is a sharp contraction from the Rs. 26.7 billion collected during the same period last year. The key 52 SOEs reported a cumulative profit of Rs. 307.5 billion for the period ending August 2025.
Sri Lanka rolls out red carpet for luxury EV brand DENZA’s first-ever South Asian launch
DENZA, the premium new energy vehicle (NEV) brand from the BYD group, was officially launched in Sri Lanka with an exclusive event at Waters Edge on November 12, 2025. Brought to market through a strategic partnership, John Keells CG Auto (JKCG Auto) introduced DENZA as Sri Lanka’s newest entry into luxury new energy mobility, offering discerning customers access to vehicles that combine European-influenced design and state-of-the-art NEV technology.
Hayleys profit rises in September quarter as domestic recovery lifts revenue
Hayleys PLC reported a stronger September quarter, supported by improving domestic demand and easing finance costs, while the diversified conglomerate continued to broaden its portfolio with strategic acquisitions and sector expansions. Quarterly consolidated revenue rose 13 percentage to Rs.138.89 billion, driven mainly by a rebound in local operations that offset global uncertainty and softer export markets. Profit after tax for the quarter climbed 13 percentage to Rs.4.39 billion, helped by a 15-percentage drop in net finance costs amid declining interest rates.
Mark and Comm presents strategic communications framework for SL’s US $ 15bn digital economy transformation
Mark and Comm (Pvt.) Ltd, Sri Lanka’s leading boutique public relations (PR) and communications agency, presented a comprehensive strategic communications and PR framework to Digital Economy Deputy Minister Eranga Weeraratne. The presentation, led by Managing Director Thanzyl Thajudeen, emphasised that world-class technology infrastructure should come with public trust, stakeholder understanding and sustained adoption. Drawing on global case studies including Singapore’s ‘Smart Nation’ initiative, Estonia’s e-governance leadership, Malaysia’s Digital Economy Blueprint and India’s Digital India programme, the framework demonstrates that successful digital transformation depends equally on communications strategy as on digital strategy.
‘Productivity name of the game to usher economic growth’
A country can avoid large current account deficits and run current account surpluses by adopting a tight fiscal policy, more taxation, controlled expenditure and the right monetary policy, which keeps real interest rates high enough, Murtaza Jafferjee, Chairman of Adovacta Institute, told the 21st AGM of the Chamber of Construction Industry (CCI) of Sri Lanka held in Colombo on Thursday (13).
Global
Oil settles up more than 2% as Russian port suspends oil exports after Ukrainian attack
Oil prices settled more than 2% higher on Friday as Russia's port of Novorossiisk halted oil exports following a Ukrainian drone attack that hit an oil depot in the Russian energy hub, stoking supply concerns.
Trump tariff rollback offers relief for Indian farmers
Indian agricultural exporters are among the winners from U.S. President Donald Trump’s exemption of dozens of food items from his reciprocal tariffs regime, which some analysts say could help to revive lost demand.
https://www.reuters.com/world/india/trump-tariff-rollback-offers-relief-indian-farmers-2025-11-16/
Wednesday
12th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
Treasury Secretary outlines 2026 Budgets’ six-pronged growth vision
• Dr. Harshana Suriyapperuma says Govt. targets 7% GDP rise via stability, transparency and digitisation at Daily FT-University of Colombo MBA Alumni Association post-Budget forum
Standard Chartered CEO hails ‘doable’ Budget 2026
• Bingumal Thewarathanthri says outlook ‘cautiously optimistic’ amid fiscal constraints and reform momentum
https://www.ft.lk/front-page/Standard-Chartered-CEO-hails-doable-Budget-2026/44-784234
Challenging revenue targets for 2026 amid rigid spending and weak welfare coverage: Economist
• Dr. Roshan Perera urges continued fiscal discipline beyond IMF program
Fitch gives positive signal about Sri Lanka’s 2026 Budget
• With $ 347 m IMF tranche on hold, Fitch gives positive message about 2026 Budget
• Says Govt. demonstrates continued commitment to fiscal consolidation, reducing debt/GDP over medium term
• Fiscal deficit seen widening to 5.1% of GDP; primary surplus easing to 2.5%
• Medium term risks remain; warns revenue slowdown, underspending on investment could test fiscal goals
• High debt levels and post-2027 repayments remain key credit vulnerabilities
https://www.ft.lk/front-page/Fitch-gives-positive-signal-about-Sri-Lanka-s-2026-Budget/44-784231
DFCC Bank sustains growth momentum in 3Q
• Posts Rs. 8.5 b core business PAT at Group level
• Bank achieves PAT of Rs. 13.3 b including disposal gain from Acuity Partners
• Group total assets up 20% to Rs. 853 b
https://www.ft.lk/front-page/DFCC-Bank-sustains-growth-momentum-in-3Q/44-784230
LOLC Finance reports Rs. 14 b 1H PAT
• Profit After Tax up sharply by 72%
• Gross lending portfolio increases 18% to Rs. 360 b
https://www.ft.lk/front-page/LOLC-Finance-reports-Rs-14-b-1H-PAT/44-784229
JKCG updates customers on detained BYD vehicles
John Keells CG Auto (JKCG) yesterday issued a statement updating its customers and stakeholders on the ongoing proceedings before the Court of Appeal regarding the detention of certain consignments of BYD vehicles by Sri Lanka Customs.
https://www.ft.lk/front-page/JKCG-updates-customers-on-detained-BYD-vehicles/44-784228
Gold prices increase by Rs. 8,000
Sri Lanka’s gold prices once again rose by Rs. 8,000 yesterday (11), following a significant increase in the price of gold in the world market.
https://www.themorning.lk/articles/JSpipg6YXO8rZG7sZhI8
Textile and apparel industry: CESS and duty revisions welcomed
The Sri Lankan Government’s consideration of providing CESS and duty revisions in its 2026 Budget provisions has been welcomed by the Sri Lanka Apparel Brands Association (SLABA), a statement released by the association said.
https://www.themorning.lk/articles/AlpF5zu9p1wS9ETjhgqe
Tax experts say lower VAT threshold could strain market
The reduction of Sri Lanka’s Value Added Tax (VAT) and Social Security Contribution Levy registration thresholds from Rs.60 million to Rs.36 million per year is expected to have a significant impact on the market next year, according to KPMG Sri Lanka Head of Tax and Regulatory Suresh Perera.
Global
Oil prices little changed as markets eye US government reopening
BEIJING, Nov 12 (Reuters) - Oil prices were little changed on Wednesday after rising in the previous session amid expectations that an end to the longest-ever U.S. government shutdown could boost demand in the world's biggest crude consuming nation.
US House returns to Washington for vote to end government shutdown
• House vote could end longest U.S. government shutdown
• Deal divides Democrats over healthcare subsidies extension
• SNAP food aid program would be secured until September 2026
Tuesday
11th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
Sri Lanka needs to move away from public underinvestment, says Deloitte SL and Maldives
Sri Lanka needs to overcome the issue of underspending that has taken place in the recent past, as it is looking at a very ambitious programme of capital expenditure for next year, said Deloitte Sri Lanka and Maldives Head of Risk and Transactions Strategy Ruvini Fernando, at a recent post-budget discussion. Over the past few years, the country has not allocated enough funds for important areas that would drive growth, such as health, education and public infrastructure and investments in these sectors have been below its peer countries, Fernando noted.
Hong Kong’s SiS Int’l invests in controlling stake in Gestetner of Ceylon
SiS International Holdings Limited recently invested in a controlling interest in Gestetner of Ceylon PLC, a leading player in the office automation sector in Sri Lanka, through World Elite Limited, one of its Hong Kong-based subsidiaries. Founded in Singapore in 1983 and started as a distributor of IT products, SiS International Holdings Limited has been listed on the Hong Kong Stock Exchange since 1992. Today, it has grown to become a dynamic leading distribution company with the largest network across five countries in Asia Pacific.
Remittances hit all-time high of US $ 712mn in October
Sri Lanka received its highest ever monthly income of US $ 712.0 million from the workers’ remittances in October, signalling that the country is in for a bumper year of income from the Sri Lankans working abroad. The October remittance income is higher than both what the country earned in the same period last year (US $ 587.7 million) and US $ 695.7 million earned in September 2025
September private credit hits Rs.236bn; highest on record
The licensed commercial banks extended a mammoth Rs.236.3 billion in new credit to the private sector in September 2025, marking a substantial 22.1 percent growth from a year earlier. The figure reflects the credit demand reaching record highs amid the rock-bottom interest rates and a rapidly expanding economy.
ADB extends US $ 100mn support to deepen fiscal reforms, transparency in SL
The Asian Development Bank (ADB) has approved a US $ 100 million financing package to strengthen Sri Lanka’s macroeconomic resilience and reinforce its reform momentum as the country continues its recovery from the 2022 economic crisis. The support comes at a critical juncture when the government is striving to sustain fiscal stability while pushing ahead with governance and structural reforms to create a more predictable and transparent investment climate.
Tourism starts November with 13% growth
Annual target under pressure
• SL welcomes nearly 62,000 visitors in first 9 days of November
• Industry is currently tracking slightly ahead of ‘Lower Scenario’ monthly target of 203,259
• Russia bounces back to second top source market
• On a cumulative basis, Sri Lanka has welcomed 1,952,577 tourists
Sri Lanka’s tourism industry has recorded a solid start to the winter season, welcoming 61,890 visitors during the first nine days of November 2025. This represents a 13.2 percent year-on-year growth compared to the approximately 54,686 tourists that arrived during the same period in 2024.
https://www.dailymirror.lk/business-main/Tourism-starts-November-with-13-growth/245-324620
Budget 2026 paves way for overall development
The 2026 budget will pave the way for overall development of economic, social and other sectors since the budget includes proposals aimed at establishing fiscal discipline in the country and putting the country on a development path, President of the Association of Economists of Sri Lanka Prof. Vijithapure Wimalarathana Thera said.
https://dailynews.lk/2025/11/11/business/892071/budget-2026-paves-way-for-overall-development/
Janashakthi Life soars Q3 with 249% surge in profits and 72% growth in new business premiums
Janashakthi Life, the flagship brand of JXG (Janashakthi Group) closed Q3 2025 solidifying its performance and growth momentum as one of Sri Lanka’s fastest-growing life insurers. The Company recorded a 72% year-on-year increase in regular new business, reaching LKR 1.227 billion. This growth was driven by an enhanced focus on customer acquisition, customer retention, product diversification and an expanding distribution network. Janashakthi Life also achieved a commendable 249% increase in net profit, amounting to LKR 2.793 billion as at the end of September 2025, compared to LKR 800 million in the same period last year. Total assets grew to LKR 41.508 billion, underscoring the company’s strong financial foundation and prudent capital management.
People’s Leasing opens 111th Branch in Eheliyagoda
People’s Leasing & Finance PLC (PLC), a leading non-bank financial institution and a subsidiary of People’s Bank in Sri Lanka, expanded its branch network, opening its 111th branch on November 4, at Kelin Veediya, Eheliyagoda.
https://dailynews.lk/2025/11/11/business/891925/peoples-leasing-opens-111th-branch-in-eheliyagoda/
Associated Motorways opens showroom in Matara
Associated Motorways (Private) Limited (AMW), a trusted name in Sri Lanka’s automotive industry, marked another milestone with the opening of its showroom in Matara. The opening ceremony took place on November 4, at Anagarika Dharmapala Mawatha, Walgama, Matara.
https://dailynews.lk/2025/11/11/business/891931/associated-motorways-opens-showroom-in-matara/
Global
Possible US shutdown end brings investor relief, fresh data focus
With an end to the U.S. government shutdown potentially on the horizon, investors who feared more economic fallout breathed easier and turned to an expected flood of delayed data to shed more light on growth and the likely path for interest rates.
Trump says US faces 'economic disaster' if Supreme Court rules against tariffs
U.S. President Donald Trump said on Monday the United States faced an economic and national security disaster if the Supreme Court ruled against his use of an emergency powers law to impose sweeping tariffs against nearly every country.
Monday
10th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
US firm AMG takes over Bogala Graphite’s owning company of German origin
AMG Critical Materials N.V. (AMG) and Asbury Carbons Inc. (Asbury Carbons) have announced the signing of a definitive agreement for AMG to sell Graphit Kropfmühl GmbH (GK) to Asbury Carbons, a portfolio company of Mill Rock Capital.
Ceylon Chamber says Budget 2026 reinforces policy stability, calls for faster reforms to achieve growth
• Seeks clarification on Economic Transformation Act and reforms to key investment institutions
• Suggests reform progress tied to B-Ready Index
• Urges fast-tracking legislation related to SOE and PPP reforms to deliver the growth dividends expected from structural measures
MSME Federation criticises Budget 2026 over VAT threshold reduction, lack of support
• Ceylon Federation of MSME President Mahendra Perera stresses many MSMEs continue to face liquidity challenges
• Plans to highlight concerns to authorities to establish practical mechanism that enables genuinely affected MSMEs
• Warns VAT threshold cut to Rs. 36 m from April 2026 will drag more small retailers into tax net
• Says 18% VAT burden will ultimately fall on consumers, worsening cost-of-living pressures
Colombo Port City can be Sri Lanka’s ‘single catalyst of growth,’ says Harsha Amarasekera
• Notes Port City Colombo can connect Sri Lanka to global service industries—fund management, fintech, arbitration and e-commerce
• Suggests Sri Lanka could position itself as a low-cost regional arbitration hub, attracting cases from India, Bangladesh and Pakistan and potentially hosting a branch of the Singapore International Arbitration Centre
• Clarifies Port City’s original incentive scheme remains intact and competitive, developed in collaboration with Finance Ministry, contrary to misconceptions of change
• Insists focus should shift from expanding tax incentives to simplifying investor entry, including streamlined visas, expatriate employment rules and EPF/ETF compliance for short-term foreign staff
• Asserts regulatory clarity on global income declarations and faster IP and trademark registration processes vital to build investor confidence
• States Commission aims to enact key legislative amendments soon under 2026 Budget to clear pending applications and improve framework in phases
Govt. slashes tax holidays for SDPs, improves disclosure
• Issues Gazette trimming tax holidays from 25 years to 10
• BOI to identify projects subject to Finance Ministry cost-benefit review
• Mandatory tax filing, disclosure of project outcomes, and ex-post monitoring introduced
• Finance Ministry to publish annual exemptions/tax expenditure reports on all SDPs
https://www.ft.lk/top-story/Govt-slashes-tax-holidays-for-SDPs-improves-disclosure/26-784132
Harsha slams 2026 Budget, decries Rs. 1 t deception
SJB MP points to Rs. 1 t deception; says Treasury overflowing while poor taxed more
• Says Budget 2026 built on broken promises, false narratives
• Labels housing, loan plans for State workers “a joke”
• Warns of new property tax and record Rs. 3.8 t borrowing
• Accuses Govt. of failing youth, SMEs and elderly
https://www.ft.lk/business/Harsha-slams-2026-Budget-decries-Rs-1-t-deception/34-784123
ADB approves $100 Mn to strengthen financial stability in Sri Lanka
The Asian Development Bank (ADB) has approved a $100 million loan to address complex and challenging structural reforms in Sri Lanka’s financial sector through better governance, continued policy reforms, and enhanced financial inclusion.
Servicing outpaces new loans: Govt. debt sees $ 1 b net increase
Sri Lanka’s outstanding central government debt has a mere net increase of $1 billion during the first nine months of this year, as debt servicing exceeded disbursements, the Finance Ministry said in a published report.
https://www.themorning.lk/articles/lpsABrb7ieAjq69KGNVn
Probe into illegal vehicle imports widens
• Investigations reveal several brands detained beyond EV models imported into SL
• Customs Spokesman confirms issues in other brands including Raize, Nissan X-Trail
• Cites discrepancies in declared engine capacities, import documentation
• Action against importers to follow completion of inquiries and pending court rulings
https://www.themorning.lk/articles/2JhdZAwj9QwPb5WI4YYt
Hemas posts 37% jump in quarterly profit on strong consumer demand, lower finance costs
Hemas Holdings PLC delivered another quarter of resilient performance in the three months ended September 2025, posting a 36.6 percent year-on-year (YoY) surge in earnings to Rs.2.1 billion.
Galadari Hotels to pump US $ 48.5mn into Colombo property upgrade
Galadari Hotels (Lanka) PLC is set to significantly boost its investment in refurbishing the landmark Galadari Hotel in Colombo, increasing the planned spend from US $ 33.5 million to US $ 48.5 million.
Losing millions in silence: Why Sri Lanka must lift palm oil ban now
The Planters’ Association of Ceylon (PA) is urging the government to act swiftly to lift the ban on oil palm cultivation, warning that with each passing day, the losses to the nation keep growing.
Global
US Senate on verge of advancing bill to end federal shutdown
• Senate bill would fund government through January 2026
• Bill would be amended to include three appropriations measures
• Democrats had resisted funding measure without healthcare fixes
• Trump pushes for direct payments over ACA subsidies
Before talks with Trump, Saudi Arabia doubles down on terms for Israel ties
o Saudi Crown Prince will meet Trump on November 18
o They are set to seal a defense pact at White House talks
o Trump wants Saudi Arabia to normalise ties with Israel
• Riyadh says that depends on roadmap to Palestinian state
Friday
7th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
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/
Thursday
6th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
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
Friday
31st October 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
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
Thursday
30th October 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
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/
Tuesday
28th October 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
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/
Monday
16th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Israel says it has launched strikes on Iran’s nuclear sites as blasts heard across country
• Israel has carried out strikes on Iran’s nuclear programme, the IDF has said, with blasts heard in Tehran
• The strikes were part of Operation Rising Lion, Israel’s PM Benjamin Netanyahu said, adding Iran was a threat to “Israel’s very survival”
• Israel has declared a state of emergency, saying the country expected retaliation
• In Jerusalem, residents were woken by sirens followed by a phone alert
• The strikes targeted “Iran’s nuclear programme and other military targets”, an Israeli official has said
https://www.bbc.com/news/live/c93ydeqyq71t?utm_campaign=WhatsApp+June+2&utm_medium=bitly&utm_source=WhatsApp2025
*Judge temporarily bars Trump from deploying National Guard troops in Los Angeles*
• Judge orders National Guard back to California control
• Trump administration appeals judge’s order barring National Guard deployment
• Protests mostly peaceful, but Trump says city would be in flames without troops
https://www.reuters.com/world/us/marines-prepare-los-angeles-deployment-protests-spread-across-us-2025-06-12/
*US Deploying FAA, NTSB Team to Assist in Air India Crash Probe*
• Air India confirms 241 of 242 passengers and crew on board have died
• London-bound flight AI171 crashed shortly after takeoff from Ahmedabad
• US is deploying investigators to assist with the probe
• Crash marks first complete loss of a Boeing 787 Dreamliner
• Boeing shares have biggest drop in two months
https://www.bloomberg.com/news/live-blog/2025-06-12/air-india-crash-live-updates?utm_source=whatsapp&utm_medium=social&utm_content=business
Friday
13th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Govt. and CBSL announce fresh relief for bank-linked SMEs amid recovery push
• CBSL issues directive on 9 June instructing banks to extend concessions to eligible SME borrowers
• Relief includes interest concessions, fresh lending and extended rescheduling deadlines
• SMEs who engaged banks for revival talks by 31 March eligible for support
• Deadline to finalise rescheduling agreements extended to 30 June
*COPA calls for audit on daily financial losses from train cancellations*
The Committee on Public Accounts has recommended an audit on the daily financial losses from train cancellations and called for a report on train delays, following concerns over reduced efficiency and inadequate management meetings at Sri Lanka Railways.
*IRD’s new risk-based VAT system promises refunds in 15 days*
• The statutory maximum for issuing refunds is set at 45 days, however, the department’s internal target for compliant taxpayers is much faster
• IRD Commissioner stressed the objective is to provide you with an even better system in its place
*Motor vehicle imports generate Rs. 149 b in taxes*
Sri Lanka Customs released nearly 50,000 motor vehicles between December 2024 and June 2025, generating Rs. 149.1 billion in tax revenue, reflecting strong progress toward the government's annual revenue targets following the lifting of the vehicle import ban.
https://www.themorning.lk/articles/BJhch1CBFyHZgqZaSRDQ
*Growth to slow to 3.5% amid crisis impact*
The World Bank projects Sri Lanka's economic growth to slow to 3.5% in 2025 due to lingering crisis impacts, structural challenges, and global uncertainties, warning that sustained recovery will hinge on reforms, debt management, and resilience to external shocks.
https://www.themorning.lk/articles/HQUygWH1Vrt36o9Ugptj
*BOND SCAM CASE: Financial Intelligence Unit ordered to appear in court*
The Colombo Magistrate's Court has ordered the Central Bank's Financial Intelligence Unit to appear on 11 December to explain its failure to submit account reports in the ongoing bond scam investigation involving Arjun Aloysius, Arjuna Mahendran, and others.
https://www.themorning.lk/articles/R8RbLmEqVXCDfv5QCNT9
*Ceylon Chamber welcomes ALSM inauguration*
The Association of Local Stationery Manufacturers (ALSM) was officially launched to unify Sri Lanka's stationery industry, aiming to promote collaboration, influence policy, and boost export potential while supporting national education and sustainable practices.
https://www.themorning.lk/articles/sWGWgmeRdU4Sx9EnmXbu
*Plans to utilize accreditation process well to boost export sector*
Trade Minister Wasantha Samarasighe emphasized that strengthening Sri Lanka's accreditation process through SLAB will boost exports, enhance global market access, and empower SMEs by ensuring product quality and international recognition.
*LOLC AL-Falaah Wadi’ah Gold Storage Facility hits Rs. 3 Bn milestone*
LOLC Al-Falaah has become the first NBFI in Sri Lanka to launch the ethical Wadi’ah Gold Storage Facility, surpassing a Rs. 3 billion portfolio by offering transparent, Sharia-compliant gold-backed cash advances that promote financial inclusion and trust among underserved communities.
*Vidullanka breaks new ground with Sri Lanka’s first-ever listed Sukuk*
• Initiative marks milestone in ethical investing and capital market diversification
• Sukuk issuance approved by CSE and SEC, raising Rs. 500 m with subscriptions opening 17 June
• Vidullanka CEO Riyaz Sangani says it offers fixed and floating return options, with investors becoming partial owners of mini hydropower plant under Shariah-compliant lease structure
• Developed with input from regulatory bodies and international Shariah scholars, backed by Fitch A+(lka) rating and led by NDB Investment Bank and Adl Capital
• Move will catalyze growth in Sri Lanka’s Islamic capital markets, provide new funding model for corporates
Thursday
12th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
President meets German counterpart in Berlin
President Anura Kumara Disanayake, who is currently on an official visit to the Federal Republic of Germany, was warmly received yesterday by German President Frank-Walter Steinmeier.
https://www.ft.lk/front-page/President-meets-German-counterpart-in-Berlin/44-777633
*Cabinet approves resumption of land acquisition for Central Expressway Phase IV*
• Compensation to be paid for previously acquired plots; new acquisitions proceed under Land Acquisition Act
• Phase IV stands at 73.2% completion; project aims to boost national connectivity
• Completion to improve access to Northern, North Central, Eastern and Central provinces
*Sri Lanka’s growth forecast to decelerate to 3.5% this year: WB*
The World Bank (WB) yesterday revealed that growth in Sri Lanka is forecast to decelerate to 3.5% this year, reflecting the scarring effects of the crisis, structural impediments to growth, and heightened global economic uncertainties.
https://www.ft.lk/front-page/Sri-Lanka-s-growth-forecast-to-decelerate-to-3-5-this-year-WB/44-777627
*World Bank cuts 2025 growth forecasts for 70% of economies*
Heightened trade tensions and policy uncertainty are expected to drive global growth down this year to its slowest pace since 2008 outside of outright global recessions, according to the World Bank’s latest Global Economic Prospects report. The turmoil has resulted in growth forecasts being cut in nearly 70% of all economies—across all regions and income groups.
https://www.ft.lk/front-page/World-Bank-cuts-2025-growth-forecasts-for-70-of-economies/44-777628
*Electricity tariffs up 15% from today*
• Tariff increase follows a comprehensive review of CEB request for an 18.3% hike
• PUCSL emphasises that decision aligns with cost-reflective pricing methodology approved by law
• Revision comes ahead of IMF First Deputy Managing Director’s visit next week
• Electricity pricing reform has been a central condition under Sri Lanka’s ongoing programme with IMF
https://www.dailymirror.lk/business-main/Electricity-tariffs-up-15-from-today/245-311318
*Sri Lanka set to outperform fiscal target for third year*
• Strong Q1 primary surplus and rising vehicle import duties drive continued overperformance
• Revenue collection agencies already exceeding targets, signaling robust economic momentum
https://www.themorning.lk/articles/6NSMvlkiPGhPATjbqXOh
*Indian visitors lead SL’s tourist arrivals*
The latest figures released by the Sri Lanka Tourism Development Authority (SLTDA) indicate that the country continues to attract a large number of tourists from India. The number of tourists who arrived in the country in the first five days of June stood at 21,293, the SLTDA stated.
https://www.themorning.lk/articles/YzrcM1KQOP5FSJ7soNQD
*NAVIGATING GLOBAL TRADE SHIFTS: Sri Lanka exports for global success*
Sri Lanka has weathered a relentless succession of economic shocks in recent years. The turmoil began with the constitutional crisis in 2018, followed by the tragic Easter Sunday attacks in 2019.
https://www.themorning.lk/articles/UO7zFpdDS71H5xZqlmZ5
*Asia sees ‘concerning’ rise in long payment delays: Report*
Companies across the Asia-Pacific region - and especially those in China - are becoming more cautious about selling on credit, as a turbulent global economy leads to a “concerning” rise in long payment delays, a new report has found.
https://www.themorning.lk/articles/bjJXmglwRF6DXiUhW71c
*Trump Says Again He’ll Set Unilateral Tariffs in Two Weeks*
President Donald Trump said he intended to send letters to trading partners in the next one to two weeks setting unilateral tariff rates, ahead of a July 9 deadline to reimpose higher duties on dozens of economies.
*Hela Apparel divests two subsidiaries for Rs. 2.7 b as part of ongoing restructuring*
It said this forms part of a broader turnaround strategy focused on structural simplification and performance improvement, with the objective of positioning its operations for recovery in the coming financial year and enhancing long-term competitiveness.
*LOFC announces mega Rs. 21 b share buy-back offer*
The LOLC Finance PLC (LOFC) Board of Directors in order to optimise its shareholder value while maintaining the company’s financial stability, has resolved to repurchase 3,519,065,138 shares at Rs. 6 each in a deal worth Rs. 21.1 billion.
https://www.ft.lk/front-page/LOFC-announces-mega-Rs-21-b-share-buy-back-offer/44-777634
Wednesday
11th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Waiting Update
Tuesday
10th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Public & Bank Holiday
Markets Closed in Sri Lanka
Monday
9th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
EDB outlines trade potential and ethical manufacturing strengths
• EDB Chairman Mangala Wijesinghe stressed on resilient and principled export economy ready to deepen ties with Chinese market
• Says China is ranked as Sri Lanka’s 10th largest export destination with value at $ 251.9 m in 2024
• Asserts significant untapped potential in both traditional and emerging product categories
• Highlights readiness to expand export footprint in China through range of high potential products including Ceylon tea, coconut-based products, processed food, fish and fishery products, spices, organic products, fruits and poultry products
*Sarvodaya Development Finance to issue first-ever Sustainable Bonds to raise Rs. 2 b*
Sarvodaya Development Finance PLC is to issue Sri Lanka’s first-ever Sustainable Bonds to raise Rs. 2 billion. Its Board of Directors last week decided to issue up to 20 million Tier 2, rated, unsecured, subordinated, redeemable high-yield Sustainable Bonds at Rs. 100 each. The issue is subject to necessary regulatory approval.
*Sigiriya’s recognition as Lanka’s first sustainable tourism destination sets benchmark”*
Deputy Minister of Tourism Prof. Ruwan Ranasinghe said that Sigiriya’s recognition as Sri Lanka’s first sustainable tourism destination sets a benchmark for similar efforts across the country.
*Sri Lanka Tourism to launch Nation Branding Campaign*
Sri Lanka Tourism is set to launch its most awaited Nation Branding Campaign on June 26, 2025, in Colombo, bringing together key players from the public and private sectors to drive a unified vision for the country’s tourism sector.
*SL aims for 50% ECT completion by end 2025*
• Construction of ECT fast-tracked after significant delays due to corruption
• $ 585 m project set for 2026 completion to enhance Colombo Port’s capacity
https://www.themorning.lk/articles/XIcT2nulIN2M1aNxOLzm
*Remittances up 18% y-o-y*
Sri Lanka’s year-on-year (y-o-y) remittances for the first five months of the year exceeded $ 3 billion in the first five months, up by 18.2% from the same period last year ($ 2.62 billion), data from the Central Bank of Sri Lanka (CBSL) shows.
https://www.themorning.lk/articles/XPdY4UJxVIP5i8UX06v3
*$ 530 m in vehicle import LCs opened*
• Govt. confirms no restrictions on vehicle types following import ban lift
• Vehicle imports align with State targets despite concerns over high prices
• IMF agreement rules out any tax cuts on vehicles for 2025
https://www.themorning.lk/articles/2Zh5KicUhzl4WhyAdlZg
*IPO momentum builds as CSE eyes derivatives market entry*
• 5-6 IPOs lined up as market hits record highs
• Foreign investor inflows remain subdued despite local rally
• CSE and India’s NCDEX shortlisted to launch SL’s first derivatives exchange
• New exchange will not be based in Port City: CSE chief
https://www.themorning.lk/articles/EoFY4OJSNhhOCYTHD1cU
*India and Sri Lanka eye dual listing to build ‘financial bridge’ between capital markets*
• Move would allow Sri Lankan firms to raise USD capital via India’s GIFT City for global expansion
• Initiative designed as a two-way partnership, with Sri Lanka also inviting Indian companies to list on the CSE
*Tourism earnings climb to US$ 1.54bn in first five months*
May tourism earnings up by 6.5% YoY to US$ 164.1mn
*Sri Lanka repays foreign debt in budget to April 2025, current spending picks up*
ECONOMYNEXT – Foreign financing of Sri Lanka’s budget was negative up to April 2025 by 27.9 billion rupees, up from 7.4 billion last year, official data shows indicating that foreign debt was being repaid on a net basis again.
*Sri Lanka’s Elephant House drinks distribution begins in India*
ECONOMYNEXT – Distribution of Elephant House beverages in India has started, under a partnership struck with Reliance Retail Ventures Limited, Ceylon Cold Stores, a unit of Sri Lanka’s John Keells Holdings said.
https://economynext.com/sri-lankas-elephant-house-drinks-distribution-begins-in-india-224527/
Friday
6th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Sugar importers warn against tax hike, say consumers will pay the price
Sugar importers have urged President Anura Kumara Dissanayake not to raise the current Rs. 50/kg import tax, warning it would inflate prices, benefit large stockholders unfairly, harm small importers, and disrupt the market, as local sugar covers only 10% of demand and is unsuitable for industrial use.
SLBFE faces CoPE scrutiny over Rs. 1 b in unauthorised spending, financial mismanagement
• CoPE uncovers SLBFE spending over Rs. 1.3 b on unapproved programs in 2024, bypassing Cabinet approval
• ‘Glocal Fair’ alone costs Rs. 1.259 b, far exceeding usual Rs. 2 m outreach allocation
• Trade stall procurement costs jump from Rs. 170,000 to Rs. 500,000 without clear explanation
• CoPE Chief accuses SLBFE of wasting funds on non-strategic, unplanned activities
• ‘Rataviruwo’ housing loan scheme fails; Rs. 100 m remains unpaid, with no beneficiary data
• Urges better use of SLBFE’s Rs. 18 b in fixed deposits
• Kuwait Compensation Fund worth Rs. 5.1 b remains underutilised; plans made for training and pensions
• Fraud surfaces in migrant worker registration, with agencies falsely claiming fee refunds
• Sub-committee to probe financial fraud by employment agencies
DFCC Bank acts as Lead Arranger in $ 100 m loan for India’s Satin Creditcare
DFCC Bank PLC has joined as a Lead Arranger in a $100 million syndicated social loan for India’s Satin Creditcare Network Ltd., supporting financial inclusion and women’s empowerment through collateral-free microloans in rural and semi-urban areas.
Salt Production: May take 3-4 months to normalise
Sri Lanka's salt production has dropped over 35% due to prolonged rains, but the Ministry of Trade assures no shortage as daily salt imports fill the gap, with normal production expected to resume in 3–4 months depending on weather conditions.
https://www.themorning.lk/articles/jniYXCKKekdPmgDOm1Ug
Sri Lanka spends Rs. 1.5 t on debt
• Over 20% of annual borrowing limit utilised for principal and interest payments by April
• Domestic debt service accounts for a large portion; GDP projection for 2025 revised down
https://www.themorning.lk/articles/G04xkM1FzDRMDdDOjftl
Oil prices slip on a Saudi price cut and a US inventory build
Crude oil prices fell as traders reacted to rising U.S. fuel inventories, Saudi Arabia's price cuts to near four-year lows, and OPEC+ plans to boost output, despite ongoing expectations of a supply surplus that has yet to materialize.
https://www.themorning.lk/articles/iHD1yj6jbns77woWSUAj
Korean Ambassador explores investment opportunities at H’tota International Port
Korean Ambassador Miyon Lee visited Hambantota International Port in May to assess its operations and discuss potential investment opportunities, with HIP promoting the port as a strategic hub for Korean trade and manufacturing.
Ceylon Chamber hosts EU Delegation
The Ceylon Chamber of Commerce hosted Poland’s Foreign Minister Radosław Sikorski and an EU delegation to strengthen EU-Sri Lanka trade and investment ties, focusing on key sectors like apparel, tourism, IT, and energy, while highlighting the private sector's role in sustainable economic collaboration.
https://www.dailynews.lk/2025/06/06/business/791434/ceylon-chamber-hosts-eu-delegation/
LOLC Group posts Rs. 41 b net profit; assets top Rs. 2 t mark
LOLC Holdings PLC reported a record after-tax profit of Rs. 41 billion for FY 2024/25—an 89% increase—driven by strong financial services performance, strategic global acquisitions, and expanding presence across over 25 countries and multiple sectors.
https://www.ft.lk/top-story/LOLC-Group-posts-Rs-41-b-net-profit-assets-top-Rs-2-t-mark/26-777362
United Motor Lanka returns to profitability after years of losses
United Motors Lanka PLC returned to profitability in FY2024/25 with a Rs. 73 million profit, driven by the lifting of Sri Lanka’s vehicle import ban, strong performance from its Dutch Lanka Trailers acquisition, and strategic shifts including local assembly, diversification, and plans to introduce electric vehicles.
https://www.themorning.lk/articles/60AEi9fJ1oXp5X3Ik2o6
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/
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/
Friday
13th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Friday
13th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Govt. and CBSL announce fresh relief for bank-linked SMEs amid recovery push
• CBSL issues directive on 9 June instructing banks to extend concessions to eligible SME borrowers
• Relief includes interest concessions, fresh lending and extended rescheduling deadlines
• SMEs who engaged banks for revival talks by 31 March eligible for support
• Deadline to finalise rescheduling agreements extended to 30 June
*COPA calls for audit on daily financial losses from train cancellations*
The Committee on Public Accounts has recommended an audit on the daily financial losses from train cancellations and called for a report on train delays, following concerns over reduced efficiency and inadequate management meetings at Sri Lanka Railways.
*IRD’s new risk-based VAT system promises refunds in 15 days*
• The statutory maximum for issuing refunds is set at 45 days, however, the department’s internal target for compliant taxpayers is much faster
• IRD Commissioner stressed the objective is to provide you with an even better system in its place
*Motor vehicle imports generate Rs. 149 b in taxes*
Sri Lanka Customs released nearly 50,000 motor vehicles between December 2024 and June 2025, generating Rs. 149.1 billion in tax revenue, reflecting strong progress toward the government's annual revenue targets following the lifting of the vehicle import ban.
https://www.themorning.lk/articles/BJhch1CBFyHZgqZaSRDQ
*Growth to slow to 3.5% amid crisis impact*
The World Bank projects Sri Lanka's economic growth to slow to 3.5% in 2025 due to lingering crisis impacts, structural challenges, and global uncertainties, warning that sustained recovery will hinge on reforms, debt management, and resilience to external shocks.
https://www.themorning.lk/articles/HQUygWH1Vrt36o9Ugptj
*BOND SCAM CASE: Financial Intelligence Unit ordered to appear in court*
The Colombo Magistrate's Court has ordered the Central Bank's Financial Intelligence Unit to appear on 11 December to explain its failure to submit account reports in the ongoing bond scam investigation involving Arjun Aloysius, Arjuna Mahendran, and others.
https://www.themorning.lk/articles/R8RbLmEqVXCDfv5QCNT9
*Ceylon Chamber welcomes ALSM inauguration*
The Association of Local Stationery Manufacturers (ALSM) was officially launched to unify Sri Lanka's stationery industry, aiming to promote collaboration, influence policy, and boost export potential while supporting national education and sustainable practices.
https://www.themorning.lk/articles/sWGWgmeRdU4Sx9EnmXbu
*Plans to utilize accreditation process well to boost export sector*
Trade Minister Wasantha Samarasighe emphasized that strengthening Sri Lanka's accreditation process through SLAB will boost exports, enhance global market access, and empower SMEs by ensuring product quality and international recognition.
*LOLC AL-Falaah Wadi’ah Gold Storage Facility hits Rs. 3 Bn milestone*
LOLC Al-Falaah has become the first NBFI in Sri Lanka to launch the ethical Wadi’ah Gold Storage Facility, surpassing a Rs. 3 billion portfolio by offering transparent, Sharia-compliant gold-backed cash advances that promote financial inclusion and trust among underserved communities.
*Vidullanka breaks new ground with Sri Lanka’s first-ever listed Sukuk*
• Initiative marks milestone in ethical investing and capital market diversification
• Sukuk issuance approved by CSE and SEC, raising Rs. 500 m with subscriptions opening 17 June
• Vidullanka CEO Riyaz Sangani says it offers fixed and floating return options, with investors becoming partial owners of mini hydropower plant under Shariah-compliant lease structure
• Developed with input from regulatory bodies and international Shariah scholars, backed by Fitch A+(lka) rating and led by NDB Investment Bank and Adl Capital
• Move will catalyze growth in Sri Lanka’s Islamic capital markets, provide new funding model for corporates
Wednesday
12th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
Treasury Secretary outlines 2026 Budgets’ six-pronged growth vision
• Dr. Harshana Suriyapperuma says Govt. targets 7% GDP rise via stability, transparency and digitisation at Daily FT-University of Colombo MBA Alumni Association post-Budget forum
Standard Chartered CEO hails ‘doable’ Budget 2026
• Bingumal Thewarathanthri says outlook ‘cautiously optimistic’ amid fiscal constraints and reform momentum
https://www.ft.lk/front-page/Standard-Chartered-CEO-hails-doable-Budget-2026/44-784234
Challenging revenue targets for 2026 amid rigid spending and weak welfare coverage: Economist
• Dr. Roshan Perera urges continued fiscal discipline beyond IMF program
Fitch gives positive signal about Sri Lanka’s 2026 Budget
• With $ 347 m IMF tranche on hold, Fitch gives positive message about 2026 Budget
• Says Govt. demonstrates continued commitment to fiscal consolidation, reducing debt/GDP over medium term
• Fiscal deficit seen widening to 5.1% of GDP; primary surplus easing to 2.5%
• Medium term risks remain; warns revenue slowdown, underspending on investment could test fiscal goals
• High debt levels and post-2027 repayments remain key credit vulnerabilities
https://www.ft.lk/front-page/Fitch-gives-positive-signal-about-Sri-Lanka-s-2026-Budget/44-784231
DFCC Bank sustains growth momentum in 3Q
• Posts Rs. 8.5 b core business PAT at Group level
• Bank achieves PAT of Rs. 13.3 b including disposal gain from Acuity Partners
• Group total assets up 20% to Rs. 853 b
https://www.ft.lk/front-page/DFCC-Bank-sustains-growth-momentum-in-3Q/44-784230
LOLC Finance reports Rs. 14 b 1H PAT
• Profit After Tax up sharply by 72%
• Gross lending portfolio increases 18% to Rs. 360 b
https://www.ft.lk/front-page/LOLC-Finance-reports-Rs-14-b-1H-PAT/44-784229
JKCG updates customers on detained BYD vehicles
John Keells CG Auto (JKCG) yesterday issued a statement updating its customers and stakeholders on the ongoing proceedings before the Court of Appeal regarding the detention of certain consignments of BYD vehicles by Sri Lanka Customs.
https://www.ft.lk/front-page/JKCG-updates-customers-on-detained-BYD-vehicles/44-784228
Gold prices increase by Rs. 8,000
Sri Lanka’s gold prices once again rose by Rs. 8,000 yesterday (11), following a significant increase in the price of gold in the world market.
https://www.themorning.lk/articles/JSpipg6YXO8rZG7sZhI8
Textile and apparel industry: CESS and duty revisions welcomed
The Sri Lankan Government’s consideration of providing CESS and duty revisions in its 2026 Budget provisions has been welcomed by the Sri Lanka Apparel Brands Association (SLABA), a statement released by the association said.
https://www.themorning.lk/articles/AlpF5zu9p1wS9ETjhgqe
Tax experts say lower VAT threshold could strain market
The reduction of Sri Lanka’s Value Added Tax (VAT) and Social Security Contribution Levy registration thresholds from Rs.60 million to Rs.36 million per year is expected to have a significant impact on the market next year, according to KPMG Sri Lanka Head of Tax and Regulatory Suresh Perera.
Global
Oil prices little changed as markets eye US government reopening
BEIJING, Nov 12 (Reuters) - Oil prices were little changed on Wednesday after rising in the previous session amid expectations that an end to the longest-ever U.S. government shutdown could boost demand in the world's biggest crude consuming nation.
US House returns to Washington for vote to end government shutdown
• House vote could end longest U.S. government shutdown
• Deal divides Democrats over healthcare subsidies extension
• SNAP food aid program would be secured until September 2026
Tuesday
11th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
Sri Lanka needs to move away from public underinvestment, says Deloitte SL and Maldives
Sri Lanka needs to overcome the issue of underspending that has taken place in the recent past, as it is looking at a very ambitious programme of capital expenditure for next year, said Deloitte Sri Lanka and Maldives Head of Risk and Transactions Strategy Ruvini Fernando, at a recent post-budget discussion. Over the past few years, the country has not allocated enough funds for important areas that would drive growth, such as health, education and public infrastructure and investments in these sectors have been below its peer countries, Fernando noted.
Hong Kong’s SiS Int’l invests in controlling stake in Gestetner of Ceylon
SiS International Holdings Limited recently invested in a controlling interest in Gestetner of Ceylon PLC, a leading player in the office automation sector in Sri Lanka, through World Elite Limited, one of its Hong Kong-based subsidiaries. Founded in Singapore in 1983 and started as a distributor of IT products, SiS International Holdings Limited has been listed on the Hong Kong Stock Exchange since 1992. Today, it has grown to become a dynamic leading distribution company with the largest network across five countries in Asia Pacific.
Remittances hit all-time high of US $ 712mn in October
Sri Lanka received its highest ever monthly income of US $ 712.0 million from the workers’ remittances in October, signalling that the country is in for a bumper year of income from the Sri Lankans working abroad. The October remittance income is higher than both what the country earned in the same period last year (US $ 587.7 million) and US $ 695.7 million earned in September 2025
September private credit hits Rs.236bn; highest on record
The licensed commercial banks extended a mammoth Rs.236.3 billion in new credit to the private sector in September 2025, marking a substantial 22.1 percent growth from a year earlier. The figure reflects the credit demand reaching record highs amid the rock-bottom interest rates and a rapidly expanding economy.
ADB extends US $ 100mn support to deepen fiscal reforms, transparency in SL
The Asian Development Bank (ADB) has approved a US $ 100 million financing package to strengthen Sri Lanka’s macroeconomic resilience and reinforce its reform momentum as the country continues its recovery from the 2022 economic crisis. The support comes at a critical juncture when the government is striving to sustain fiscal stability while pushing ahead with governance and structural reforms to create a more predictable and transparent investment climate.
Tourism starts November with 13% growth
Annual target under pressure
• SL welcomes nearly 62,000 visitors in first 9 days of November
• Industry is currently tracking slightly ahead of ‘Lower Scenario’ monthly target of 203,259
• Russia bounces back to second top source market
• On a cumulative basis, Sri Lanka has welcomed 1,952,577 tourists
Sri Lanka’s tourism industry has recorded a solid start to the winter season, welcoming 61,890 visitors during the first nine days of November 2025. This represents a 13.2 percent year-on-year growth compared to the approximately 54,686 tourists that arrived during the same period in 2024.
https://www.dailymirror.lk/business-main/Tourism-starts-November-with-13-growth/245-324620
Budget 2026 paves way for overall development
The 2026 budget will pave the way for overall development of economic, social and other sectors since the budget includes proposals aimed at establishing fiscal discipline in the country and putting the country on a development path, President of the Association of Economists of Sri Lanka Prof. Vijithapure Wimalarathana Thera said.
https://dailynews.lk/2025/11/11/business/892071/budget-2026-paves-way-for-overall-development/
Janashakthi Life soars Q3 with 249% surge in profits and 72% growth in new business premiums
Janashakthi Life, the flagship brand of JXG (Janashakthi Group) closed Q3 2025 solidifying its performance and growth momentum as one of Sri Lanka’s fastest-growing life insurers. The Company recorded a 72% year-on-year increase in regular new business, reaching LKR 1.227 billion. This growth was driven by an enhanced focus on customer acquisition, customer retention, product diversification and an expanding distribution network. Janashakthi Life also achieved a commendable 249% increase in net profit, amounting to LKR 2.793 billion as at the end of September 2025, compared to LKR 800 million in the same period last year. Total assets grew to LKR 41.508 billion, underscoring the company’s strong financial foundation and prudent capital management.
People’s Leasing opens 111th Branch in Eheliyagoda
People’s Leasing & Finance PLC (PLC), a leading non-bank financial institution and a subsidiary of People’s Bank in Sri Lanka, expanded its branch network, opening its 111th branch on November 4, at Kelin Veediya, Eheliyagoda.
https://dailynews.lk/2025/11/11/business/891925/peoples-leasing-opens-111th-branch-in-eheliyagoda/
Associated Motorways opens showroom in Matara
Associated Motorways (Private) Limited (AMW), a trusted name in Sri Lanka’s automotive industry, marked another milestone with the opening of its showroom in Matara. The opening ceremony took place on November 4, at Anagarika Dharmapala Mawatha, Walgama, Matara.
https://dailynews.lk/2025/11/11/business/891931/associated-motorways-opens-showroom-in-matara/
Global
Possible US shutdown end brings investor relief, fresh data focus
With an end to the U.S. government shutdown potentially on the horizon, investors who feared more economic fallout breathed easier and turned to an expected flood of delayed data to shed more light on growth and the likely path for interest rates.
Trump says US faces 'economic disaster' if Supreme Court rules against tariffs
U.S. President Donald Trump said on Monday the United States faced an economic and national security disaster if the Supreme Court ruled against his use of an emergency powers law to impose sweeping tariffs against nearly every country.
Monday
10th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
US firm AMG takes over Bogala Graphite’s owning company of German origin
AMG Critical Materials N.V. (AMG) and Asbury Carbons Inc. (Asbury Carbons) have announced the signing of a definitive agreement for AMG to sell Graphit Kropfmühl GmbH (GK) to Asbury Carbons, a portfolio company of Mill Rock Capital.
Ceylon Chamber says Budget 2026 reinforces policy stability, calls for faster reforms to achieve growth
• Seeks clarification on Economic Transformation Act and reforms to key investment institutions
• Suggests reform progress tied to B-Ready Index
• Urges fast-tracking legislation related to SOE and PPP reforms to deliver the growth dividends expected from structural measures
MSME Federation criticises Budget 2026 over VAT threshold reduction, lack of support
• Ceylon Federation of MSME President Mahendra Perera stresses many MSMEs continue to face liquidity challenges
• Plans to highlight concerns to authorities to establish practical mechanism that enables genuinely affected MSMEs
• Warns VAT threshold cut to Rs. 36 m from April 2026 will drag more small retailers into tax net
• Says 18% VAT burden will ultimately fall on consumers, worsening cost-of-living pressures
Colombo Port City can be Sri Lanka’s ‘single catalyst of growth,’ says Harsha Amarasekera
• Notes Port City Colombo can connect Sri Lanka to global service industries—fund management, fintech, arbitration and e-commerce
• Suggests Sri Lanka could position itself as a low-cost regional arbitration hub, attracting cases from India, Bangladesh and Pakistan and potentially hosting a branch of the Singapore International Arbitration Centre
• Clarifies Port City’s original incentive scheme remains intact and competitive, developed in collaboration with Finance Ministry, contrary to misconceptions of change
• Insists focus should shift from expanding tax incentives to simplifying investor entry, including streamlined visas, expatriate employment rules and EPF/ETF compliance for short-term foreign staff
• Asserts regulatory clarity on global income declarations and faster IP and trademark registration processes vital to build investor confidence
• States Commission aims to enact key legislative amendments soon under 2026 Budget to clear pending applications and improve framework in phases
Govt. slashes tax holidays for SDPs, improves disclosure
• Issues Gazette trimming tax holidays from 25 years to 10
• BOI to identify projects subject to Finance Ministry cost-benefit review
• Mandatory tax filing, disclosure of project outcomes, and ex-post monitoring introduced
• Finance Ministry to publish annual exemptions/tax expenditure reports on all SDPs
https://www.ft.lk/top-story/Govt-slashes-tax-holidays-for-SDPs-improves-disclosure/26-784132
Harsha slams 2026 Budget, decries Rs. 1 t deception
SJB MP points to Rs. 1 t deception; says Treasury overflowing while poor taxed more
• Says Budget 2026 built on broken promises, false narratives
• Labels housing, loan plans for State workers “a joke”
• Warns of new property tax and record Rs. 3.8 t borrowing
• Accuses Govt. of failing youth, SMEs and elderly
https://www.ft.lk/business/Harsha-slams-2026-Budget-decries-Rs-1-t-deception/34-784123
ADB approves $100 Mn to strengthen financial stability in Sri Lanka
The Asian Development Bank (ADB) has approved a $100 million loan to address complex and challenging structural reforms in Sri Lanka’s financial sector through better governance, continued policy reforms, and enhanced financial inclusion.
Servicing outpaces new loans: Govt. debt sees $ 1 b net increase
Sri Lanka’s outstanding central government debt has a mere net increase of $1 billion during the first nine months of this year, as debt servicing exceeded disbursements, the Finance Ministry said in a published report.
https://www.themorning.lk/articles/lpsABrb7ieAjq69KGNVn
Probe into illegal vehicle imports widens
• Investigations reveal several brands detained beyond EV models imported into SL
• Customs Spokesman confirms issues in other brands including Raize, Nissan X-Trail
• Cites discrepancies in declared engine capacities, import documentation
• Action against importers to follow completion of inquiries and pending court rulings
https://www.themorning.lk/articles/2JhdZAwj9QwPb5WI4YYt
Hemas posts 37% jump in quarterly profit on strong consumer demand, lower finance costs
Hemas Holdings PLC delivered another quarter of resilient performance in the three months ended September 2025, posting a 36.6 percent year-on-year (YoY) surge in earnings to Rs.2.1 billion.
Galadari Hotels to pump US $ 48.5mn into Colombo property upgrade
Galadari Hotels (Lanka) PLC is set to significantly boost its investment in refurbishing the landmark Galadari Hotel in Colombo, increasing the planned spend from US $ 33.5 million to US $ 48.5 million.
Losing millions in silence: Why Sri Lanka must lift palm oil ban now
The Planters’ Association of Ceylon (PA) is urging the government to act swiftly to lift the ban on oil palm cultivation, warning that with each passing day, the losses to the nation keep growing.
Global
US Senate on verge of advancing bill to end federal shutdown
• Senate bill would fund government through January 2026
• Bill would be amended to include three appropriations measures
• Democrats had resisted funding measure without healthcare fixes
• Trump pushes for direct payments over ACA subsidies
Before talks with Trump, Saudi Arabia doubles down on terms for Israel ties
o Saudi Crown Prince will meet Trump on November 18
o They are set to seal a defense pact at White House talks
o Trump wants Saudi Arabia to normalise ties with Israel
• Riyadh says that depends on roadmap to Palestinian state
Friday
7th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
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/
Thursday
6th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
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
Friday
31st October 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
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
Thursday
30th October 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
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/
Tuesday
28th October 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
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/
Monday
16th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Israel says it has launched strikes on Iran’s nuclear sites as blasts heard across country
• Israel has carried out strikes on Iran’s nuclear programme, the IDF has said, with blasts heard in Tehran
• The strikes were part of Operation Rising Lion, Israel’s PM Benjamin Netanyahu said, adding Iran was a threat to “Israel’s very survival”
• Israel has declared a state of emergency, saying the country expected retaliation
• In Jerusalem, residents were woken by sirens followed by a phone alert
• The strikes targeted “Iran’s nuclear programme and other military targets”, an Israeli official has said
https://www.bbc.com/news/live/c93ydeqyq71t?utm_campaign=WhatsApp+June+2&utm_medium=bitly&utm_source=WhatsApp2025
*Judge temporarily bars Trump from deploying National Guard troops in Los Angeles*
• Judge orders National Guard back to California control
• Trump administration appeals judge’s order barring National Guard deployment
• Protests mostly peaceful, but Trump says city would be in flames without troops
https://www.reuters.com/world/us/marines-prepare-los-angeles-deployment-protests-spread-across-us-2025-06-12/
*US Deploying FAA, NTSB Team to Assist in Air India Crash Probe*
• Air India confirms 241 of 242 passengers and crew on board have died
• London-bound flight AI171 crashed shortly after takeoff from Ahmedabad
• US is deploying investigators to assist with the probe
• Crash marks first complete loss of a Boeing 787 Dreamliner
• Boeing shares have biggest drop in two months
https://www.bloomberg.com/news/live-blog/2025-06-12/air-india-crash-live-updates?utm_source=whatsapp&utm_medium=social&utm_content=business
Friday
13th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Govt. and CBSL announce fresh relief for bank-linked SMEs amid recovery push
• CBSL issues directive on 9 June instructing banks to extend concessions to eligible SME borrowers
• Relief includes interest concessions, fresh lending and extended rescheduling deadlines
• SMEs who engaged banks for revival talks by 31 March eligible for support
• Deadline to finalise rescheduling agreements extended to 30 June
*COPA calls for audit on daily financial losses from train cancellations*
The Committee on Public Accounts has recommended an audit on the daily financial losses from train cancellations and called for a report on train delays, following concerns over reduced efficiency and inadequate management meetings at Sri Lanka Railways.
*IRD’s new risk-based VAT system promises refunds in 15 days*
• The statutory maximum for issuing refunds is set at 45 days, however, the department’s internal target for compliant taxpayers is much faster
• IRD Commissioner stressed the objective is to provide you with an even better system in its place
*Motor vehicle imports generate Rs. 149 b in taxes*
Sri Lanka Customs released nearly 50,000 motor vehicles between December 2024 and June 2025, generating Rs. 149.1 billion in tax revenue, reflecting strong progress toward the government's annual revenue targets following the lifting of the vehicle import ban.
https://www.themorning.lk/articles/BJhch1CBFyHZgqZaSRDQ
*Growth to slow to 3.5% amid crisis impact*
The World Bank projects Sri Lanka's economic growth to slow to 3.5% in 2025 due to lingering crisis impacts, structural challenges, and global uncertainties, warning that sustained recovery will hinge on reforms, debt management, and resilience to external shocks.
https://www.themorning.lk/articles/HQUygWH1Vrt36o9Ugptj
*BOND SCAM CASE: Financial Intelligence Unit ordered to appear in court*
The Colombo Magistrate's Court has ordered the Central Bank's Financial Intelligence Unit to appear on 11 December to explain its failure to submit account reports in the ongoing bond scam investigation involving Arjun Aloysius, Arjuna Mahendran, and others.
https://www.themorning.lk/articles/R8RbLmEqVXCDfv5QCNT9
*Ceylon Chamber welcomes ALSM inauguration*
The Association of Local Stationery Manufacturers (ALSM) was officially launched to unify Sri Lanka's stationery industry, aiming to promote collaboration, influence policy, and boost export potential while supporting national education and sustainable practices.
https://www.themorning.lk/articles/sWGWgmeRdU4Sx9EnmXbu
*Plans to utilize accreditation process well to boost export sector*
Trade Minister Wasantha Samarasighe emphasized that strengthening Sri Lanka's accreditation process through SLAB will boost exports, enhance global market access, and empower SMEs by ensuring product quality and international recognition.
*LOLC AL-Falaah Wadi’ah Gold Storage Facility hits Rs. 3 Bn milestone*
LOLC Al-Falaah has become the first NBFI in Sri Lanka to launch the ethical Wadi’ah Gold Storage Facility, surpassing a Rs. 3 billion portfolio by offering transparent, Sharia-compliant gold-backed cash advances that promote financial inclusion and trust among underserved communities.
*Vidullanka breaks new ground with Sri Lanka’s first-ever listed Sukuk*
• Initiative marks milestone in ethical investing and capital market diversification
• Sukuk issuance approved by CSE and SEC, raising Rs. 500 m with subscriptions opening 17 June
• Vidullanka CEO Riyaz Sangani says it offers fixed and floating return options, with investors becoming partial owners of mini hydropower plant under Shariah-compliant lease structure
• Developed with input from regulatory bodies and international Shariah scholars, backed by Fitch A+(lka) rating and led by NDB Investment Bank and Adl Capital
• Move will catalyze growth in Sri Lanka’s Islamic capital markets, provide new funding model for corporates
Thursday
12th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
President meets German counterpart in Berlin
President Anura Kumara Disanayake, who is currently on an official visit to the Federal Republic of Germany, was warmly received yesterday by German President Frank-Walter Steinmeier.
https://www.ft.lk/front-page/President-meets-German-counterpart-in-Berlin/44-777633
*Cabinet approves resumption of land acquisition for Central Expressway Phase IV*
• Compensation to be paid for previously acquired plots; new acquisitions proceed under Land Acquisition Act
• Phase IV stands at 73.2% completion; project aims to boost national connectivity
• Completion to improve access to Northern, North Central, Eastern and Central provinces
*Sri Lanka’s growth forecast to decelerate to 3.5% this year: WB*
The World Bank (WB) yesterday revealed that growth in Sri Lanka is forecast to decelerate to 3.5% this year, reflecting the scarring effects of the crisis, structural impediments to growth, and heightened global economic uncertainties.
https://www.ft.lk/front-page/Sri-Lanka-s-growth-forecast-to-decelerate-to-3-5-this-year-WB/44-777627
*World Bank cuts 2025 growth forecasts for 70% of economies*
Heightened trade tensions and policy uncertainty are expected to drive global growth down this year to its slowest pace since 2008 outside of outright global recessions, according to the World Bank’s latest Global Economic Prospects report. The turmoil has resulted in growth forecasts being cut in nearly 70% of all economies—across all regions and income groups.
https://www.ft.lk/front-page/World-Bank-cuts-2025-growth-forecasts-for-70-of-economies/44-777628
*Electricity tariffs up 15% from today*
• Tariff increase follows a comprehensive review of CEB request for an 18.3% hike
• PUCSL emphasises that decision aligns with cost-reflective pricing methodology approved by law
• Revision comes ahead of IMF First Deputy Managing Director’s visit next week
• Electricity pricing reform has been a central condition under Sri Lanka’s ongoing programme with IMF
https://www.dailymirror.lk/business-main/Electricity-tariffs-up-15-from-today/245-311318
*Sri Lanka set to outperform fiscal target for third year*
• Strong Q1 primary surplus and rising vehicle import duties drive continued overperformance
• Revenue collection agencies already exceeding targets, signaling robust economic momentum
https://www.themorning.lk/articles/6NSMvlkiPGhPATjbqXOh
*Indian visitors lead SL’s tourist arrivals*
The latest figures released by the Sri Lanka Tourism Development Authority (SLTDA) indicate that the country continues to attract a large number of tourists from India. The number of tourists who arrived in the country in the first five days of June stood at 21,293, the SLTDA stated.
https://www.themorning.lk/articles/YzrcM1KQOP5FSJ7soNQD
*NAVIGATING GLOBAL TRADE SHIFTS: Sri Lanka exports for global success*
Sri Lanka has weathered a relentless succession of economic shocks in recent years. The turmoil began with the constitutional crisis in 2018, followed by the tragic Easter Sunday attacks in 2019.
https://www.themorning.lk/articles/UO7zFpdDS71H5xZqlmZ5
*Asia sees ‘concerning’ rise in long payment delays: Report*
Companies across the Asia-Pacific region - and especially those in China - are becoming more cautious about selling on credit, as a turbulent global economy leads to a “concerning” rise in long payment delays, a new report has found.
https://www.themorning.lk/articles/bjJXmglwRF6DXiUhW71c
*Trump Says Again He’ll Set Unilateral Tariffs in Two Weeks*
President Donald Trump said he intended to send letters to trading partners in the next one to two weeks setting unilateral tariff rates, ahead of a July 9 deadline to reimpose higher duties on dozens of economies.
*Hela Apparel divests two subsidiaries for Rs. 2.7 b as part of ongoing restructuring*
It said this forms part of a broader turnaround strategy focused on structural simplification and performance improvement, with the objective of positioning its operations for recovery in the coming financial year and enhancing long-term competitiveness.
*LOFC announces mega Rs. 21 b share buy-back offer*
The LOLC Finance PLC (LOFC) Board of Directors in order to optimise its shareholder value while maintaining the company’s financial stability, has resolved to repurchase 3,519,065,138 shares at Rs. 6 each in a deal worth Rs. 21.1 billion.
https://www.ft.lk/front-page/LOFC-announces-mega-Rs-21-b-share-buy-back-offer/44-777634
Wednesday
11th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Waiting Update
Tuesday
10th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Public & Bank Holiday
Markets Closed in Sri Lanka
Monday
9th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
EDB outlines trade potential and ethical manufacturing strengths
• EDB Chairman Mangala Wijesinghe stressed on resilient and principled export economy ready to deepen ties with Chinese market
• Says China is ranked as Sri Lanka’s 10th largest export destination with value at $ 251.9 m in 2024
• Asserts significant untapped potential in both traditional and emerging product categories
• Highlights readiness to expand export footprint in China through range of high potential products including Ceylon tea, coconut-based products, processed food, fish and fishery products, spices, organic products, fruits and poultry products
*Sarvodaya Development Finance to issue first-ever Sustainable Bonds to raise Rs. 2 b*
Sarvodaya Development Finance PLC is to issue Sri Lanka’s first-ever Sustainable Bonds to raise Rs. 2 billion. Its Board of Directors last week decided to issue up to 20 million Tier 2, rated, unsecured, subordinated, redeemable high-yield Sustainable Bonds at Rs. 100 each. The issue is subject to necessary regulatory approval.
*Sigiriya’s recognition as Lanka’s first sustainable tourism destination sets benchmark”*
Deputy Minister of Tourism Prof. Ruwan Ranasinghe said that Sigiriya’s recognition as Sri Lanka’s first sustainable tourism destination sets a benchmark for similar efforts across the country.
*Sri Lanka Tourism to launch Nation Branding Campaign*
Sri Lanka Tourism is set to launch its most awaited Nation Branding Campaign on June 26, 2025, in Colombo, bringing together key players from the public and private sectors to drive a unified vision for the country’s tourism sector.
*SL aims for 50% ECT completion by end 2025*
• Construction of ECT fast-tracked after significant delays due to corruption
• $ 585 m project set for 2026 completion to enhance Colombo Port’s capacity
https://www.themorning.lk/articles/XIcT2nulIN2M1aNxOLzm
*Remittances up 18% y-o-y*
Sri Lanka’s year-on-year (y-o-y) remittances for the first five months of the year exceeded $ 3 billion in the first five months, up by 18.2% from the same period last year ($ 2.62 billion), data from the Central Bank of Sri Lanka (CBSL) shows.
https://www.themorning.lk/articles/XPdY4UJxVIP5i8UX06v3
*$ 530 m in vehicle import LCs opened*
• Govt. confirms no restrictions on vehicle types following import ban lift
• Vehicle imports align with State targets despite concerns over high prices
• IMF agreement rules out any tax cuts on vehicles for 2025
https://www.themorning.lk/articles/2Zh5KicUhzl4WhyAdlZg
*IPO momentum builds as CSE eyes derivatives market entry*
• 5-6 IPOs lined up as market hits record highs
• Foreign investor inflows remain subdued despite local rally
• CSE and India’s NCDEX shortlisted to launch SL’s first derivatives exchange
• New exchange will not be based in Port City: CSE chief
https://www.themorning.lk/articles/EoFY4OJSNhhOCYTHD1cU
*India and Sri Lanka eye dual listing to build ‘financial bridge’ between capital markets*
• Move would allow Sri Lankan firms to raise USD capital via India’s GIFT City for global expansion
• Initiative designed as a two-way partnership, with Sri Lanka also inviting Indian companies to list on the CSE
*Tourism earnings climb to US$ 1.54bn in first five months*
May tourism earnings up by 6.5% YoY to US$ 164.1mn
*Sri Lanka repays foreign debt in budget to April 2025, current spending picks up*
ECONOMYNEXT – Foreign financing of Sri Lanka’s budget was negative up to April 2025 by 27.9 billion rupees, up from 7.4 billion last year, official data shows indicating that foreign debt was being repaid on a net basis again.
*Sri Lanka’s Elephant House drinks distribution begins in India*
ECONOMYNEXT – Distribution of Elephant House beverages in India has started, under a partnership struck with Reliance Retail Ventures Limited, Ceylon Cold Stores, a unit of Sri Lanka’s John Keells Holdings said.
https://economynext.com/sri-lankas-elephant-house-drinks-distribution-begins-in-india-224527/
Friday
6th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Sugar importers warn against tax hike, say consumers will pay the price
Sugar importers have urged President Anura Kumara Dissanayake not to raise the current Rs. 50/kg import tax, warning it would inflate prices, benefit large stockholders unfairly, harm small importers, and disrupt the market, as local sugar covers only 10% of demand and is unsuitable for industrial use.
SLBFE faces CoPE scrutiny over Rs. 1 b in unauthorised spending, financial mismanagement
• CoPE uncovers SLBFE spending over Rs. 1.3 b on unapproved programs in 2024, bypassing Cabinet approval
• ‘Glocal Fair’ alone costs Rs. 1.259 b, far exceeding usual Rs. 2 m outreach allocation
• Trade stall procurement costs jump from Rs. 170,000 to Rs. 500,000 without clear explanation
• CoPE Chief accuses SLBFE of wasting funds on non-strategic, unplanned activities
• ‘Rataviruwo’ housing loan scheme fails; Rs. 100 m remains unpaid, with no beneficiary data
• Urges better use of SLBFE’s Rs. 18 b in fixed deposits
• Kuwait Compensation Fund worth Rs. 5.1 b remains underutilised; plans made for training and pensions
• Fraud surfaces in migrant worker registration, with agencies falsely claiming fee refunds
• Sub-committee to probe financial fraud by employment agencies
DFCC Bank acts as Lead Arranger in $ 100 m loan for India’s Satin Creditcare
DFCC Bank PLC has joined as a Lead Arranger in a $100 million syndicated social loan for India’s Satin Creditcare Network Ltd., supporting financial inclusion and women’s empowerment through collateral-free microloans in rural and semi-urban areas.
Salt Production: May take 3-4 months to normalise
Sri Lanka's salt production has dropped over 35% due to prolonged rains, but the Ministry of Trade assures no shortage as daily salt imports fill the gap, with normal production expected to resume in 3–4 months depending on weather conditions.
https://www.themorning.lk/articles/jniYXCKKekdPmgDOm1Ug
Sri Lanka spends Rs. 1.5 t on debt
• Over 20% of annual borrowing limit utilised for principal and interest payments by April
• Domestic debt service accounts for a large portion; GDP projection for 2025 revised down
https://www.themorning.lk/articles/G04xkM1FzDRMDdDOjftl
Oil prices slip on a Saudi price cut and a US inventory build
Crude oil prices fell as traders reacted to rising U.S. fuel inventories, Saudi Arabia's price cuts to near four-year lows, and OPEC+ plans to boost output, despite ongoing expectations of a supply surplus that has yet to materialize.
https://www.themorning.lk/articles/iHD1yj6jbns77woWSUAj
Korean Ambassador explores investment opportunities at H’tota International Port
Korean Ambassador Miyon Lee visited Hambantota International Port in May to assess its operations and discuss potential investment opportunities, with HIP promoting the port as a strategic hub for Korean trade and manufacturing.
Ceylon Chamber hosts EU Delegation
The Ceylon Chamber of Commerce hosted Poland’s Foreign Minister Radosław Sikorski and an EU delegation to strengthen EU-Sri Lanka trade and investment ties, focusing on key sectors like apparel, tourism, IT, and energy, while highlighting the private sector's role in sustainable economic collaboration.
https://www.dailynews.lk/2025/06/06/business/791434/ceylon-chamber-hosts-eu-delegation/
LOLC Group posts Rs. 41 b net profit; assets top Rs. 2 t mark
LOLC Holdings PLC reported a record after-tax profit of Rs. 41 billion for FY 2024/25—an 89% increase—driven by strong financial services performance, strategic global acquisitions, and expanding presence across over 25 countries and multiple sectors.
https://www.ft.lk/top-story/LOLC-Group-posts-Rs-41-b-net-profit-assets-top-Rs-2-t-mark/26-777362
United Motor Lanka returns to profitability after years of losses
United Motors Lanka PLC returned to profitability in FY2024/25 with a Rs. 73 million profit, driven by the lifting of Sri Lanka’s vehicle import ban, strong performance from its Dutch Lanka Trailers acquisition, and strategic shifts including local assembly, diversification, and plans to introduce electric vehicles.
https://www.themorning.lk/articles/60AEi9fJ1oXp5X3Ik2o6
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/
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/
Friday
13th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Friday
13th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Govt. and CBSL announce fresh relief for bank-linked SMEs amid recovery push
• CBSL issues directive on 9 June instructing banks to extend concessions to eligible SME borrowers
• Relief includes interest concessions, fresh lending and extended rescheduling deadlines
• SMEs who engaged banks for revival talks by 31 March eligible for support
• Deadline to finalise rescheduling agreements extended to 30 June
*COPA calls for audit on daily financial losses from train cancellations*
The Committee on Public Accounts has recommended an audit on the daily financial losses from train cancellations and called for a report on train delays, following concerns over reduced efficiency and inadequate management meetings at Sri Lanka Railways.
*IRD’s new risk-based VAT system promises refunds in 15 days*
• The statutory maximum for issuing refunds is set at 45 days, however, the department’s internal target for compliant taxpayers is much faster
• IRD Commissioner stressed the objective is to provide you with an even better system in its place
*Motor vehicle imports generate Rs. 149 b in taxes*
Sri Lanka Customs released nearly 50,000 motor vehicles between December 2024 and June 2025, generating Rs. 149.1 billion in tax revenue, reflecting strong progress toward the government's annual revenue targets following the lifting of the vehicle import ban.
https://www.themorning.lk/articles/BJhch1CBFyHZgqZaSRDQ
*Growth to slow to 3.5% amid crisis impact*
The World Bank projects Sri Lanka's economic growth to slow to 3.5% in 2025 due to lingering crisis impacts, structural challenges, and global uncertainties, warning that sustained recovery will hinge on reforms, debt management, and resilience to external shocks.
https://www.themorning.lk/articles/HQUygWH1Vrt36o9Ugptj
*BOND SCAM CASE: Financial Intelligence Unit ordered to appear in court*
The Colombo Magistrate's Court has ordered the Central Bank's Financial Intelligence Unit to appear on 11 December to explain its failure to submit account reports in the ongoing bond scam investigation involving Arjun Aloysius, Arjuna Mahendran, and others.
https://www.themorning.lk/articles/R8RbLmEqVXCDfv5QCNT9
*Ceylon Chamber welcomes ALSM inauguration*
The Association of Local Stationery Manufacturers (ALSM) was officially launched to unify Sri Lanka's stationery industry, aiming to promote collaboration, influence policy, and boost export potential while supporting national education and sustainable practices.
https://www.themorning.lk/articles/sWGWgmeRdU4Sx9EnmXbu
*Plans to utilize accreditation process well to boost export sector*
Trade Minister Wasantha Samarasighe emphasized that strengthening Sri Lanka's accreditation process through SLAB will boost exports, enhance global market access, and empower SMEs by ensuring product quality and international recognition.
*LOLC AL-Falaah Wadi’ah Gold Storage Facility hits Rs. 3 Bn milestone*
LOLC Al-Falaah has become the first NBFI in Sri Lanka to launch the ethical Wadi’ah Gold Storage Facility, surpassing a Rs. 3 billion portfolio by offering transparent, Sharia-compliant gold-backed cash advances that promote financial inclusion and trust among underserved communities.
*Vidullanka breaks new ground with Sri Lanka’s first-ever listed Sukuk*
• Initiative marks milestone in ethical investing and capital market diversification
• Sukuk issuance approved by CSE and SEC, raising Rs. 500 m with subscriptions opening 17 June
• Vidullanka CEO Riyaz Sangani says it offers fixed and floating return options, with investors becoming partial owners of mini hydropower plant under Shariah-compliant lease structure
• Developed with input from regulatory bodies and international Shariah scholars, backed by Fitch A+(lka) rating and led by NDB Investment Bank and Adl Capital
• Move will catalyze growth in Sri Lanka’s Islamic capital markets, provide new funding model for corporates
Wednesday
12th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
Treasury Secretary outlines 2026 Budgets’ six-pronged growth vision
• Dr. Harshana Suriyapperuma says Govt. targets 7% GDP rise via stability, transparency and digitisation at Daily FT-University of Colombo MBA Alumni Association post-Budget forum
Standard Chartered CEO hails ‘doable’ Budget 2026
• Bingumal Thewarathanthri says outlook ‘cautiously optimistic’ amid fiscal constraints and reform momentum
https://www.ft.lk/front-page/Standard-Chartered-CEO-hails-doable-Budget-2026/44-784234
Challenging revenue targets for 2026 amid rigid spending and weak welfare coverage: Economist
• Dr. Roshan Perera urges continued fiscal discipline beyond IMF program
Fitch gives positive signal about Sri Lanka’s 2026 Budget
• With $ 347 m IMF tranche on hold, Fitch gives positive message about 2026 Budget
• Says Govt. demonstrates continued commitment to fiscal consolidation, reducing debt/GDP over medium term
• Fiscal deficit seen widening to 5.1% of GDP; primary surplus easing to 2.5%
• Medium term risks remain; warns revenue slowdown, underspending on investment could test fiscal goals
• High debt levels and post-2027 repayments remain key credit vulnerabilities
https://www.ft.lk/front-page/Fitch-gives-positive-signal-about-Sri-Lanka-s-2026-Budget/44-784231
DFCC Bank sustains growth momentum in 3Q
• Posts Rs. 8.5 b core business PAT at Group level
• Bank achieves PAT of Rs. 13.3 b including disposal gain from Acuity Partners
• Group total assets up 20% to Rs. 853 b
https://www.ft.lk/front-page/DFCC-Bank-sustains-growth-momentum-in-3Q/44-784230
LOLC Finance reports Rs. 14 b 1H PAT
• Profit After Tax up sharply by 72%
• Gross lending portfolio increases 18% to Rs. 360 b
https://www.ft.lk/front-page/LOLC-Finance-reports-Rs-14-b-1H-PAT/44-784229
JKCG updates customers on detained BYD vehicles
John Keells CG Auto (JKCG) yesterday issued a statement updating its customers and stakeholders on the ongoing proceedings before the Court of Appeal regarding the detention of certain consignments of BYD vehicles by Sri Lanka Customs.
https://www.ft.lk/front-page/JKCG-updates-customers-on-detained-BYD-vehicles/44-784228
Gold prices increase by Rs. 8,000
Sri Lanka’s gold prices once again rose by Rs. 8,000 yesterday (11), following a significant increase in the price of gold in the world market.
https://www.themorning.lk/articles/JSpipg6YXO8rZG7sZhI8
Textile and apparel industry: CESS and duty revisions welcomed
The Sri Lankan Government’s consideration of providing CESS and duty revisions in its 2026 Budget provisions has been welcomed by the Sri Lanka Apparel Brands Association (SLABA), a statement released by the association said.
https://www.themorning.lk/articles/AlpF5zu9p1wS9ETjhgqe
Tax experts say lower VAT threshold could strain market
The reduction of Sri Lanka’s Value Added Tax (VAT) and Social Security Contribution Levy registration thresholds from Rs.60 million to Rs.36 million per year is expected to have a significant impact on the market next year, according to KPMG Sri Lanka Head of Tax and Regulatory Suresh Perera.
Global
Oil prices little changed as markets eye US government reopening
BEIJING, Nov 12 (Reuters) - Oil prices were little changed on Wednesday after rising in the previous session amid expectations that an end to the longest-ever U.S. government shutdown could boost demand in the world's biggest crude consuming nation.
US House returns to Washington for vote to end government shutdown
• House vote could end longest U.S. government shutdown
• Deal divides Democrats over healthcare subsidies extension
• SNAP food aid program would be secured until September 2026
Tuesday
11th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
Sri Lanka needs to move away from public underinvestment, says Deloitte SL and Maldives
Sri Lanka needs to overcome the issue of underspending that has taken place in the recent past, as it is looking at a very ambitious programme of capital expenditure for next year, said Deloitte Sri Lanka and Maldives Head of Risk and Transactions Strategy Ruvini Fernando, at a recent post-budget discussion. Over the past few years, the country has not allocated enough funds for important areas that would drive growth, such as health, education and public infrastructure and investments in these sectors have been below its peer countries, Fernando noted.
Hong Kong’s SiS Int’l invests in controlling stake in Gestetner of Ceylon
SiS International Holdings Limited recently invested in a controlling interest in Gestetner of Ceylon PLC, a leading player in the office automation sector in Sri Lanka, through World Elite Limited, one of its Hong Kong-based subsidiaries. Founded in Singapore in 1983 and started as a distributor of IT products, SiS International Holdings Limited has been listed on the Hong Kong Stock Exchange since 1992. Today, it has grown to become a dynamic leading distribution company with the largest network across five countries in Asia Pacific.
Remittances hit all-time high of US $ 712mn in October
Sri Lanka received its highest ever monthly income of US $ 712.0 million from the workers’ remittances in October, signalling that the country is in for a bumper year of income from the Sri Lankans working abroad. The October remittance income is higher than both what the country earned in the same period last year (US $ 587.7 million) and US $ 695.7 million earned in September 2025
September private credit hits Rs.236bn; highest on record
The licensed commercial banks extended a mammoth Rs.236.3 billion in new credit to the private sector in September 2025, marking a substantial 22.1 percent growth from a year earlier. The figure reflects the credit demand reaching record highs amid the rock-bottom interest rates and a rapidly expanding economy.
ADB extends US $ 100mn support to deepen fiscal reforms, transparency in SL
The Asian Development Bank (ADB) has approved a US $ 100 million financing package to strengthen Sri Lanka’s macroeconomic resilience and reinforce its reform momentum as the country continues its recovery from the 2022 economic crisis. The support comes at a critical juncture when the government is striving to sustain fiscal stability while pushing ahead with governance and structural reforms to create a more predictable and transparent investment climate.
Tourism starts November with 13% growth
Annual target under pressure
• SL welcomes nearly 62,000 visitors in first 9 days of November
• Industry is currently tracking slightly ahead of ‘Lower Scenario’ monthly target of 203,259
• Russia bounces back to second top source market
• On a cumulative basis, Sri Lanka has welcomed 1,952,577 tourists
Sri Lanka’s tourism industry has recorded a solid start to the winter season, welcoming 61,890 visitors during the first nine days of November 2025. This represents a 13.2 percent year-on-year growth compared to the approximately 54,686 tourists that arrived during the same period in 2024.
https://www.dailymirror.lk/business-main/Tourism-starts-November-with-13-growth/245-324620
Budget 2026 paves way for overall development
The 2026 budget will pave the way for overall development of economic, social and other sectors since the budget includes proposals aimed at establishing fiscal discipline in the country and putting the country on a development path, President of the Association of Economists of Sri Lanka Prof. Vijithapure Wimalarathana Thera said.
https://dailynews.lk/2025/11/11/business/892071/budget-2026-paves-way-for-overall-development/
Janashakthi Life soars Q3 with 249% surge in profits and 72% growth in new business premiums
Janashakthi Life, the flagship brand of JXG (Janashakthi Group) closed Q3 2025 solidifying its performance and growth momentum as one of Sri Lanka’s fastest-growing life insurers. The Company recorded a 72% year-on-year increase in regular new business, reaching LKR 1.227 billion. This growth was driven by an enhanced focus on customer acquisition, customer retention, product diversification and an expanding distribution network. Janashakthi Life also achieved a commendable 249% increase in net profit, amounting to LKR 2.793 billion as at the end of September 2025, compared to LKR 800 million in the same period last year. Total assets grew to LKR 41.508 billion, underscoring the company’s strong financial foundation and prudent capital management.
People’s Leasing opens 111th Branch in Eheliyagoda
People’s Leasing & Finance PLC (PLC), a leading non-bank financial institution and a subsidiary of People’s Bank in Sri Lanka, expanded its branch network, opening its 111th branch on November 4, at Kelin Veediya, Eheliyagoda.
https://dailynews.lk/2025/11/11/business/891925/peoples-leasing-opens-111th-branch-in-eheliyagoda/
Associated Motorways opens showroom in Matara
Associated Motorways (Private) Limited (AMW), a trusted name in Sri Lanka’s automotive industry, marked another milestone with the opening of its showroom in Matara. The opening ceremony took place on November 4, at Anagarika Dharmapala Mawatha, Walgama, Matara.
https://dailynews.lk/2025/11/11/business/891931/associated-motorways-opens-showroom-in-matara/
Global
Possible US shutdown end brings investor relief, fresh data focus
With an end to the U.S. government shutdown potentially on the horizon, investors who feared more economic fallout breathed easier and turned to an expected flood of delayed data to shed more light on growth and the likely path for interest rates.
Trump says US faces 'economic disaster' if Supreme Court rules against tariffs
U.S. President Donald Trump said on Monday the United States faced an economic and national security disaster if the Supreme Court ruled against his use of an emergency powers law to impose sweeping tariffs against nearly every country.
Monday
10th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
US firm AMG takes over Bogala Graphite’s owning company of German origin
AMG Critical Materials N.V. (AMG) and Asbury Carbons Inc. (Asbury Carbons) have announced the signing of a definitive agreement for AMG to sell Graphit Kropfmühl GmbH (GK) to Asbury Carbons, a portfolio company of Mill Rock Capital.
Ceylon Chamber says Budget 2026 reinforces policy stability, calls for faster reforms to achieve growth
• Seeks clarification on Economic Transformation Act and reforms to key investment institutions
• Suggests reform progress tied to B-Ready Index
• Urges fast-tracking legislation related to SOE and PPP reforms to deliver the growth dividends expected from structural measures
MSME Federation criticises Budget 2026 over VAT threshold reduction, lack of support
• Ceylon Federation of MSME President Mahendra Perera stresses many MSMEs continue to face liquidity challenges
• Plans to highlight concerns to authorities to establish practical mechanism that enables genuinely affected MSMEs
• Warns VAT threshold cut to Rs. 36 m from April 2026 will drag more small retailers into tax net
• Says 18% VAT burden will ultimately fall on consumers, worsening cost-of-living pressures
Colombo Port City can be Sri Lanka’s ‘single catalyst of growth,’ says Harsha Amarasekera
• Notes Port City Colombo can connect Sri Lanka to global service industries—fund management, fintech, arbitration and e-commerce
• Suggests Sri Lanka could position itself as a low-cost regional arbitration hub, attracting cases from India, Bangladesh and Pakistan and potentially hosting a branch of the Singapore International Arbitration Centre
• Clarifies Port City’s original incentive scheme remains intact and competitive, developed in collaboration with Finance Ministry, contrary to misconceptions of change
• Insists focus should shift from expanding tax incentives to simplifying investor entry, including streamlined visas, expatriate employment rules and EPF/ETF compliance for short-term foreign staff
• Asserts regulatory clarity on global income declarations and faster IP and trademark registration processes vital to build investor confidence
• States Commission aims to enact key legislative amendments soon under 2026 Budget to clear pending applications and improve framework in phases
Govt. slashes tax holidays for SDPs, improves disclosure
• Issues Gazette trimming tax holidays from 25 years to 10
• BOI to identify projects subject to Finance Ministry cost-benefit review
• Mandatory tax filing, disclosure of project outcomes, and ex-post monitoring introduced
• Finance Ministry to publish annual exemptions/tax expenditure reports on all SDPs
https://www.ft.lk/top-story/Govt-slashes-tax-holidays-for-SDPs-improves-disclosure/26-784132
Harsha slams 2026 Budget, decries Rs. 1 t deception
SJB MP points to Rs. 1 t deception; says Treasury overflowing while poor taxed more
• Says Budget 2026 built on broken promises, false narratives
• Labels housing, loan plans for State workers “a joke”
• Warns of new property tax and record Rs. 3.8 t borrowing
• Accuses Govt. of failing youth, SMEs and elderly
https://www.ft.lk/business/Harsha-slams-2026-Budget-decries-Rs-1-t-deception/34-784123
ADB approves $100 Mn to strengthen financial stability in Sri Lanka
The Asian Development Bank (ADB) has approved a $100 million loan to address complex and challenging structural reforms in Sri Lanka’s financial sector through better governance, continued policy reforms, and enhanced financial inclusion.
Servicing outpaces new loans: Govt. debt sees $ 1 b net increase
Sri Lanka’s outstanding central government debt has a mere net increase of $1 billion during the first nine months of this year, as debt servicing exceeded disbursements, the Finance Ministry said in a published report.
https://www.themorning.lk/articles/lpsABrb7ieAjq69KGNVn
Probe into illegal vehicle imports widens
• Investigations reveal several brands detained beyond EV models imported into SL
• Customs Spokesman confirms issues in other brands including Raize, Nissan X-Trail
• Cites discrepancies in declared engine capacities, import documentation
• Action against importers to follow completion of inquiries and pending court rulings
https://www.themorning.lk/articles/2JhdZAwj9QwPb5WI4YYt
Hemas posts 37% jump in quarterly profit on strong consumer demand, lower finance costs
Hemas Holdings PLC delivered another quarter of resilient performance in the three months ended September 2025, posting a 36.6 percent year-on-year (YoY) surge in earnings to Rs.2.1 billion.
Galadari Hotels to pump US $ 48.5mn into Colombo property upgrade
Galadari Hotels (Lanka) PLC is set to significantly boost its investment in refurbishing the landmark Galadari Hotel in Colombo, increasing the planned spend from US $ 33.5 million to US $ 48.5 million.
Losing millions in silence: Why Sri Lanka must lift palm oil ban now
The Planters’ Association of Ceylon (PA) is urging the government to act swiftly to lift the ban on oil palm cultivation, warning that with each passing day, the losses to the nation keep growing.
Global
US Senate on verge of advancing bill to end federal shutdown
• Senate bill would fund government through January 2026
• Bill would be amended to include three appropriations measures
• Democrats had resisted funding measure without healthcare fixes
• Trump pushes for direct payments over ACA subsidies
Before talks with Trump, Saudi Arabia doubles down on terms for Israel ties
o Saudi Crown Prince will meet Trump on November 18
o They are set to seal a defense pact at White House talks
o Trump wants Saudi Arabia to normalise ties with Israel
• Riyadh says that depends on roadmap to Palestinian state
Friday
7th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
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/
Thursday
6th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
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
Friday
31st October 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
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
Thursday
30th October 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
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/
Tuesday
28th October 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
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/
Monday
16th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Israel says it has launched strikes on Iran’s nuclear sites as blasts heard across country
• Israel has carried out strikes on Iran’s nuclear programme, the IDF has said, with blasts heard in Tehran
• The strikes were part of Operation Rising Lion, Israel’s PM Benjamin Netanyahu said, adding Iran was a threat to “Israel’s very survival”
• Israel has declared a state of emergency, saying the country expected retaliation
• In Jerusalem, residents were woken by sirens followed by a phone alert
• The strikes targeted “Iran’s nuclear programme and other military targets”, an Israeli official has said
https://www.bbc.com/news/live/c93ydeqyq71t?utm_campaign=WhatsApp+June+2&utm_medium=bitly&utm_source=WhatsApp2025
*Judge temporarily bars Trump from deploying National Guard troops in Los Angeles*
• Judge orders National Guard back to California control
• Trump administration appeals judge’s order barring National Guard deployment
• Protests mostly peaceful, but Trump says city would be in flames without troops
https://www.reuters.com/world/us/marines-prepare-los-angeles-deployment-protests-spread-across-us-2025-06-12/
*US Deploying FAA, NTSB Team to Assist in Air India Crash Probe*
• Air India confirms 241 of 242 passengers and crew on board have died
• London-bound flight AI171 crashed shortly after takeoff from Ahmedabad
• US is deploying investigators to assist with the probe
• Crash marks first complete loss of a Boeing 787 Dreamliner
• Boeing shares have biggest drop in two months
https://www.bloomberg.com/news/live-blog/2025-06-12/air-india-crash-live-updates?utm_source=whatsapp&utm_medium=social&utm_content=business
Friday
13th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Govt. and CBSL announce fresh relief for bank-linked SMEs amid recovery push
• CBSL issues directive on 9 June instructing banks to extend concessions to eligible SME borrowers
• Relief includes interest concessions, fresh lending and extended rescheduling deadlines
• SMEs who engaged banks for revival talks by 31 March eligible for support
• Deadline to finalise rescheduling agreements extended to 30 June
*COPA calls for audit on daily financial losses from train cancellations*
The Committee on Public Accounts has recommended an audit on the daily financial losses from train cancellations and called for a report on train delays, following concerns over reduced efficiency and inadequate management meetings at Sri Lanka Railways.
*IRD’s new risk-based VAT system promises refunds in 15 days*
• The statutory maximum for issuing refunds is set at 45 days, however, the department’s internal target for compliant taxpayers is much faster
• IRD Commissioner stressed the objective is to provide you with an even better system in its place
*Motor vehicle imports generate Rs. 149 b in taxes*
Sri Lanka Customs released nearly 50,000 motor vehicles between December 2024 and June 2025, generating Rs. 149.1 billion in tax revenue, reflecting strong progress toward the government's annual revenue targets following the lifting of the vehicle import ban.
https://www.themorning.lk/articles/BJhch1CBFyHZgqZaSRDQ
*Growth to slow to 3.5% amid crisis impact*
The World Bank projects Sri Lanka's economic growth to slow to 3.5% in 2025 due to lingering crisis impacts, structural challenges, and global uncertainties, warning that sustained recovery will hinge on reforms, debt management, and resilience to external shocks.
https://www.themorning.lk/articles/HQUygWH1Vrt36o9Ugptj
*BOND SCAM CASE: Financial Intelligence Unit ordered to appear in court*
The Colombo Magistrate's Court has ordered the Central Bank's Financial Intelligence Unit to appear on 11 December to explain its failure to submit account reports in the ongoing bond scam investigation involving Arjun Aloysius, Arjuna Mahendran, and others.
https://www.themorning.lk/articles/R8RbLmEqVXCDfv5QCNT9
*Ceylon Chamber welcomes ALSM inauguration*
The Association of Local Stationery Manufacturers (ALSM) was officially launched to unify Sri Lanka's stationery industry, aiming to promote collaboration, influence policy, and boost export potential while supporting national education and sustainable practices.
https://www.themorning.lk/articles/sWGWgmeRdU4Sx9EnmXbu
*Plans to utilize accreditation process well to boost export sector*
Trade Minister Wasantha Samarasighe emphasized that strengthening Sri Lanka's accreditation process through SLAB will boost exports, enhance global market access, and empower SMEs by ensuring product quality and international recognition.
*LOLC AL-Falaah Wadi’ah Gold Storage Facility hits Rs. 3 Bn milestone*
LOLC Al-Falaah has become the first NBFI in Sri Lanka to launch the ethical Wadi’ah Gold Storage Facility, surpassing a Rs. 3 billion portfolio by offering transparent, Sharia-compliant gold-backed cash advances that promote financial inclusion and trust among underserved communities.
*Vidullanka breaks new ground with Sri Lanka’s first-ever listed Sukuk*
• Initiative marks milestone in ethical investing and capital market diversification
• Sukuk issuance approved by CSE and SEC, raising Rs. 500 m with subscriptions opening 17 June
• Vidullanka CEO Riyaz Sangani says it offers fixed and floating return options, with investors becoming partial owners of mini hydropower plant under Shariah-compliant lease structure
• Developed with input from regulatory bodies and international Shariah scholars, backed by Fitch A+(lka) rating and led by NDB Investment Bank and Adl Capital
• Move will catalyze growth in Sri Lanka’s Islamic capital markets, provide new funding model for corporates
Thursday
12th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
President meets German counterpart in Berlin
President Anura Kumara Disanayake, who is currently on an official visit to the Federal Republic of Germany, was warmly received yesterday by German President Frank-Walter Steinmeier.
https://www.ft.lk/front-page/President-meets-German-counterpart-in-Berlin/44-777633
*Cabinet approves resumption of land acquisition for Central Expressway Phase IV*
• Compensation to be paid for previously acquired plots; new acquisitions proceed under Land Acquisition Act
• Phase IV stands at 73.2% completion; project aims to boost national connectivity
• Completion to improve access to Northern, North Central, Eastern and Central provinces
*Sri Lanka’s growth forecast to decelerate to 3.5% this year: WB*
The World Bank (WB) yesterday revealed that growth in Sri Lanka is forecast to decelerate to 3.5% this year, reflecting the scarring effects of the crisis, structural impediments to growth, and heightened global economic uncertainties.
https://www.ft.lk/front-page/Sri-Lanka-s-growth-forecast-to-decelerate-to-3-5-this-year-WB/44-777627
*World Bank cuts 2025 growth forecasts for 70% of economies*
Heightened trade tensions and policy uncertainty are expected to drive global growth down this year to its slowest pace since 2008 outside of outright global recessions, according to the World Bank’s latest Global Economic Prospects report. The turmoil has resulted in growth forecasts being cut in nearly 70% of all economies—across all regions and income groups.
https://www.ft.lk/front-page/World-Bank-cuts-2025-growth-forecasts-for-70-of-economies/44-777628
*Electricity tariffs up 15% from today*
• Tariff increase follows a comprehensive review of CEB request for an 18.3% hike
• PUCSL emphasises that decision aligns with cost-reflective pricing methodology approved by law
• Revision comes ahead of IMF First Deputy Managing Director’s visit next week
• Electricity pricing reform has been a central condition under Sri Lanka’s ongoing programme with IMF
https://www.dailymirror.lk/business-main/Electricity-tariffs-up-15-from-today/245-311318
*Sri Lanka set to outperform fiscal target for third year*
• Strong Q1 primary surplus and rising vehicle import duties drive continued overperformance
• Revenue collection agencies already exceeding targets, signaling robust economic momentum
https://www.themorning.lk/articles/6NSMvlkiPGhPATjbqXOh
*Indian visitors lead SL’s tourist arrivals*
The latest figures released by the Sri Lanka Tourism Development Authority (SLTDA) indicate that the country continues to attract a large number of tourists from India. The number of tourists who arrived in the country in the first five days of June stood at 21,293, the SLTDA stated.
https://www.themorning.lk/articles/YzrcM1KQOP5FSJ7soNQD
*NAVIGATING GLOBAL TRADE SHIFTS: Sri Lanka exports for global success*
Sri Lanka has weathered a relentless succession of economic shocks in recent years. The turmoil began with the constitutional crisis in 2018, followed by the tragic Easter Sunday attacks in 2019.
https://www.themorning.lk/articles/UO7zFpdDS71H5xZqlmZ5
*Asia sees ‘concerning’ rise in long payment delays: Report*
Companies across the Asia-Pacific region - and especially those in China - are becoming more cautious about selling on credit, as a turbulent global economy leads to a “concerning” rise in long payment delays, a new report has found.
https://www.themorning.lk/articles/bjJXmglwRF6DXiUhW71c
*Trump Says Again He’ll Set Unilateral Tariffs in Two Weeks*
President Donald Trump said he intended to send letters to trading partners in the next one to two weeks setting unilateral tariff rates, ahead of a July 9 deadline to reimpose higher duties on dozens of economies.
*Hela Apparel divests two subsidiaries for Rs. 2.7 b as part of ongoing restructuring*
It said this forms part of a broader turnaround strategy focused on structural simplification and performance improvement, with the objective of positioning its operations for recovery in the coming financial year and enhancing long-term competitiveness.
*LOFC announces mega Rs. 21 b share buy-back offer*
The LOLC Finance PLC (LOFC) Board of Directors in order to optimise its shareholder value while maintaining the company’s financial stability, has resolved to repurchase 3,519,065,138 shares at Rs. 6 each in a deal worth Rs. 21.1 billion.
https://www.ft.lk/front-page/LOFC-announces-mega-Rs-21-b-share-buy-back-offer/44-777634
Wednesday
11th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Waiting Update
Tuesday
10th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Public & Bank Holiday
Markets Closed in Sri Lanka
Monday
9th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
EDB outlines trade potential and ethical manufacturing strengths
• EDB Chairman Mangala Wijesinghe stressed on resilient and principled export economy ready to deepen ties with Chinese market
• Says China is ranked as Sri Lanka’s 10th largest export destination with value at $ 251.9 m in 2024
• Asserts significant untapped potential in both traditional and emerging product categories
• Highlights readiness to expand export footprint in China through range of high potential products including Ceylon tea, coconut-based products, processed food, fish and fishery products, spices, organic products, fruits and poultry products
*Sarvodaya Development Finance to issue first-ever Sustainable Bonds to raise Rs. 2 b*
Sarvodaya Development Finance PLC is to issue Sri Lanka’s first-ever Sustainable Bonds to raise Rs. 2 billion. Its Board of Directors last week decided to issue up to 20 million Tier 2, rated, unsecured, subordinated, redeemable high-yield Sustainable Bonds at Rs. 100 each. The issue is subject to necessary regulatory approval.
*Sigiriya’s recognition as Lanka’s first sustainable tourism destination sets benchmark”*
Deputy Minister of Tourism Prof. Ruwan Ranasinghe said that Sigiriya’s recognition as Sri Lanka’s first sustainable tourism destination sets a benchmark for similar efforts across the country.
*Sri Lanka Tourism to launch Nation Branding Campaign*
Sri Lanka Tourism is set to launch its most awaited Nation Branding Campaign on June 26, 2025, in Colombo, bringing together key players from the public and private sectors to drive a unified vision for the country’s tourism sector.
*SL aims for 50% ECT completion by end 2025*
• Construction of ECT fast-tracked after significant delays due to corruption
• $ 585 m project set for 2026 completion to enhance Colombo Port’s capacity
https://www.themorning.lk/articles/XIcT2nulIN2M1aNxOLzm
*Remittances up 18% y-o-y*
Sri Lanka’s year-on-year (y-o-y) remittances for the first five months of the year exceeded $ 3 billion in the first five months, up by 18.2% from the same period last year ($ 2.62 billion), data from the Central Bank of Sri Lanka (CBSL) shows.
https://www.themorning.lk/articles/XPdY4UJxVIP5i8UX06v3
*$ 530 m in vehicle import LCs opened*
• Govt. confirms no restrictions on vehicle types following import ban lift
• Vehicle imports align with State targets despite concerns over high prices
• IMF agreement rules out any tax cuts on vehicles for 2025
https://www.themorning.lk/articles/2Zh5KicUhzl4WhyAdlZg
*IPO momentum builds as CSE eyes derivatives market entry*
• 5-6 IPOs lined up as market hits record highs
• Foreign investor inflows remain subdued despite local rally
• CSE and India’s NCDEX shortlisted to launch SL’s first derivatives exchange
• New exchange will not be based in Port City: CSE chief
https://www.themorning.lk/articles/EoFY4OJSNhhOCYTHD1cU
*India and Sri Lanka eye dual listing to build ‘financial bridge’ between capital markets*
• Move would allow Sri Lankan firms to raise USD capital via India’s GIFT City for global expansion
• Initiative designed as a two-way partnership, with Sri Lanka also inviting Indian companies to list on the CSE
*Tourism earnings climb to US$ 1.54bn in first five months*
May tourism earnings up by 6.5% YoY to US$ 164.1mn
*Sri Lanka repays foreign debt in budget to April 2025, current spending picks up*
ECONOMYNEXT – Foreign financing of Sri Lanka’s budget was negative up to April 2025 by 27.9 billion rupees, up from 7.4 billion last year, official data shows indicating that foreign debt was being repaid on a net basis again.
*Sri Lanka’s Elephant House drinks distribution begins in India*
ECONOMYNEXT – Distribution of Elephant House beverages in India has started, under a partnership struck with Reliance Retail Ventures Limited, Ceylon Cold Stores, a unit of Sri Lanka’s John Keells Holdings said.
https://economynext.com/sri-lankas-elephant-house-drinks-distribution-begins-in-india-224527/
Friday
6th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Sugar importers warn against tax hike, say consumers will pay the price
Sugar importers have urged President Anura Kumara Dissanayake not to raise the current Rs. 50/kg import tax, warning it would inflate prices, benefit large stockholders unfairly, harm small importers, and disrupt the market, as local sugar covers only 10% of demand and is unsuitable for industrial use.
SLBFE faces CoPE scrutiny over Rs. 1 b in unauthorised spending, financial mismanagement
• CoPE uncovers SLBFE spending over Rs. 1.3 b on unapproved programs in 2024, bypassing Cabinet approval
• ‘Glocal Fair’ alone costs Rs. 1.259 b, far exceeding usual Rs. 2 m outreach allocation
• Trade stall procurement costs jump from Rs. 170,000 to Rs. 500,000 without clear explanation
• CoPE Chief accuses SLBFE of wasting funds on non-strategic, unplanned activities
• ‘Rataviruwo’ housing loan scheme fails; Rs. 100 m remains unpaid, with no beneficiary data
• Urges better use of SLBFE’s Rs. 18 b in fixed deposits
• Kuwait Compensation Fund worth Rs. 5.1 b remains underutilised; plans made for training and pensions
• Fraud surfaces in migrant worker registration, with agencies falsely claiming fee refunds
• Sub-committee to probe financial fraud by employment agencies
DFCC Bank acts as Lead Arranger in $ 100 m loan for India’s Satin Creditcare
DFCC Bank PLC has joined as a Lead Arranger in a $100 million syndicated social loan for India’s Satin Creditcare Network Ltd., supporting financial inclusion and women’s empowerment through collateral-free microloans in rural and semi-urban areas.
Salt Production: May take 3-4 months to normalise
Sri Lanka's salt production has dropped over 35% due to prolonged rains, but the Ministry of Trade assures no shortage as daily salt imports fill the gap, with normal production expected to resume in 3–4 months depending on weather conditions.
https://www.themorning.lk/articles/jniYXCKKekdPmgDOm1Ug
Sri Lanka spends Rs. 1.5 t on debt
• Over 20% of annual borrowing limit utilised for principal and interest payments by April
• Domestic debt service accounts for a large portion; GDP projection for 2025 revised down
https://www.themorning.lk/articles/G04xkM1FzDRMDdDOjftl
Oil prices slip on a Saudi price cut and a US inventory build
Crude oil prices fell as traders reacted to rising U.S. fuel inventories, Saudi Arabia's price cuts to near four-year lows, and OPEC+ plans to boost output, despite ongoing expectations of a supply surplus that has yet to materialize.
https://www.themorning.lk/articles/iHD1yj6jbns77woWSUAj
Korean Ambassador explores investment opportunities at H’tota International Port
Korean Ambassador Miyon Lee visited Hambantota International Port in May to assess its operations and discuss potential investment opportunities, with HIP promoting the port as a strategic hub for Korean trade and manufacturing.
Ceylon Chamber hosts EU Delegation
The Ceylon Chamber of Commerce hosted Poland’s Foreign Minister Radosław Sikorski and an EU delegation to strengthen EU-Sri Lanka trade and investment ties, focusing on key sectors like apparel, tourism, IT, and energy, while highlighting the private sector's role in sustainable economic collaboration.
https://www.dailynews.lk/2025/06/06/business/791434/ceylon-chamber-hosts-eu-delegation/
LOLC Group posts Rs. 41 b net profit; assets top Rs. 2 t mark
LOLC Holdings PLC reported a record after-tax profit of Rs. 41 billion for FY 2024/25—an 89% increase—driven by strong financial services performance, strategic global acquisitions, and expanding presence across over 25 countries and multiple sectors.
https://www.ft.lk/top-story/LOLC-Group-posts-Rs-41-b-net-profit-assets-top-Rs-2-t-mark/26-777362
United Motor Lanka returns to profitability after years of losses
United Motors Lanka PLC returned to profitability in FY2024/25 with a Rs. 73 million profit, driven by the lifting of Sri Lanka’s vehicle import ban, strong performance from its Dutch Lanka Trailers acquisition, and strategic shifts including local assembly, diversification, and plans to introduce electric vehicles.
https://www.themorning.lk/articles/60AEi9fJ1oXp5X3Ik2o6
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/
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/
Friday
13th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Friday
13th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Govt. and CBSL announce fresh relief for bank-linked SMEs amid recovery push
• CBSL issues directive on 9 June instructing banks to extend concessions to eligible SME borrowers
• Relief includes interest concessions, fresh lending and extended rescheduling deadlines
• SMEs who engaged banks for revival talks by 31 March eligible for support
• Deadline to finalise rescheduling agreements extended to 30 June
*COPA calls for audit on daily financial losses from train cancellations*
The Committee on Public Accounts has recommended an audit on the daily financial losses from train cancellations and called for a report on train delays, following concerns over reduced efficiency and inadequate management meetings at Sri Lanka Railways.
*IRD’s new risk-based VAT system promises refunds in 15 days*
• The statutory maximum for issuing refunds is set at 45 days, however, the department’s internal target for compliant taxpayers is much faster
• IRD Commissioner stressed the objective is to provide you with an even better system in its place
*Motor vehicle imports generate Rs. 149 b in taxes*
Sri Lanka Customs released nearly 50,000 motor vehicles between December 2024 and June 2025, generating Rs. 149.1 billion in tax revenue, reflecting strong progress toward the government's annual revenue targets following the lifting of the vehicle import ban.
https://www.themorning.lk/articles/BJhch1CBFyHZgqZaSRDQ
*Growth to slow to 3.5% amid crisis impact*
The World Bank projects Sri Lanka's economic growth to slow to 3.5% in 2025 due to lingering crisis impacts, structural challenges, and global uncertainties, warning that sustained recovery will hinge on reforms, debt management, and resilience to external shocks.
https://www.themorning.lk/articles/HQUygWH1Vrt36o9Ugptj
*BOND SCAM CASE: Financial Intelligence Unit ordered to appear in court*
The Colombo Magistrate's Court has ordered the Central Bank's Financial Intelligence Unit to appear on 11 December to explain its failure to submit account reports in the ongoing bond scam investigation involving Arjun Aloysius, Arjuna Mahendran, and others.
https://www.themorning.lk/articles/R8RbLmEqVXCDfv5QCNT9
*Ceylon Chamber welcomes ALSM inauguration*
The Association of Local Stationery Manufacturers (ALSM) was officially launched to unify Sri Lanka's stationery industry, aiming to promote collaboration, influence policy, and boost export potential while supporting national education and sustainable practices.
https://www.themorning.lk/articles/sWGWgmeRdU4Sx9EnmXbu
*Plans to utilize accreditation process well to boost export sector*
Trade Minister Wasantha Samarasighe emphasized that strengthening Sri Lanka's accreditation process through SLAB will boost exports, enhance global market access, and empower SMEs by ensuring product quality and international recognition.
*LOLC AL-Falaah Wadi’ah Gold Storage Facility hits Rs. 3 Bn milestone*
LOLC Al-Falaah has become the first NBFI in Sri Lanka to launch the ethical Wadi’ah Gold Storage Facility, surpassing a Rs. 3 billion portfolio by offering transparent, Sharia-compliant gold-backed cash advances that promote financial inclusion and trust among underserved communities.
*Vidullanka breaks new ground with Sri Lanka’s first-ever listed Sukuk*
• Initiative marks milestone in ethical investing and capital market diversification
• Sukuk issuance approved by CSE and SEC, raising Rs. 500 m with subscriptions opening 17 June
• Vidullanka CEO Riyaz Sangani says it offers fixed and floating return options, with investors becoming partial owners of mini hydropower plant under Shariah-compliant lease structure
• Developed with input from regulatory bodies and international Shariah scholars, backed by Fitch A+(lka) rating and led by NDB Investment Bank and Adl Capital
• Move will catalyze growth in Sri Lanka’s Islamic capital markets, provide new funding model for corporates
Wednesday
12th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
Treasury Secretary outlines 2026 Budgets’ six-pronged growth vision
• Dr. Harshana Suriyapperuma says Govt. targets 7% GDP rise via stability, transparency and digitisation at Daily FT-University of Colombo MBA Alumni Association post-Budget forum
Standard Chartered CEO hails ‘doable’ Budget 2026
• Bingumal Thewarathanthri says outlook ‘cautiously optimistic’ amid fiscal constraints and reform momentum
https://www.ft.lk/front-page/Standard-Chartered-CEO-hails-doable-Budget-2026/44-784234
Challenging revenue targets for 2026 amid rigid spending and weak welfare coverage: Economist
• Dr. Roshan Perera urges continued fiscal discipline beyond IMF program
Fitch gives positive signal about Sri Lanka’s 2026 Budget
• With $ 347 m IMF tranche on hold, Fitch gives positive message about 2026 Budget
• Says Govt. demonstrates continued commitment to fiscal consolidation, reducing debt/GDP over medium term
• Fiscal deficit seen widening to 5.1% of GDP; primary surplus easing to 2.5%
• Medium term risks remain; warns revenue slowdown, underspending on investment could test fiscal goals
• High debt levels and post-2027 repayments remain key credit vulnerabilities
https://www.ft.lk/front-page/Fitch-gives-positive-signal-about-Sri-Lanka-s-2026-Budget/44-784231
DFCC Bank sustains growth momentum in 3Q
• Posts Rs. 8.5 b core business PAT at Group level
• Bank achieves PAT of Rs. 13.3 b including disposal gain from Acuity Partners
• Group total assets up 20% to Rs. 853 b
https://www.ft.lk/front-page/DFCC-Bank-sustains-growth-momentum-in-3Q/44-784230
LOLC Finance reports Rs. 14 b 1H PAT
• Profit After Tax up sharply by 72%
• Gross lending portfolio increases 18% to Rs. 360 b
https://www.ft.lk/front-page/LOLC-Finance-reports-Rs-14-b-1H-PAT/44-784229
JKCG updates customers on detained BYD vehicles
John Keells CG Auto (JKCG) yesterday issued a statement updating its customers and stakeholders on the ongoing proceedings before the Court of Appeal regarding the detention of certain consignments of BYD vehicles by Sri Lanka Customs.
https://www.ft.lk/front-page/JKCG-updates-customers-on-detained-BYD-vehicles/44-784228
Gold prices increase by Rs. 8,000
Sri Lanka’s gold prices once again rose by Rs. 8,000 yesterday (11), following a significant increase in the price of gold in the world market.
https://www.themorning.lk/articles/JSpipg6YXO8rZG7sZhI8
Textile and apparel industry: CESS and duty revisions welcomed
The Sri Lankan Government’s consideration of providing CESS and duty revisions in its 2026 Budget provisions has been welcomed by the Sri Lanka Apparel Brands Association (SLABA), a statement released by the association said.
https://www.themorning.lk/articles/AlpF5zu9p1wS9ETjhgqe
Tax experts say lower VAT threshold could strain market
The reduction of Sri Lanka’s Value Added Tax (VAT) and Social Security Contribution Levy registration thresholds from Rs.60 million to Rs.36 million per year is expected to have a significant impact on the market next year, according to KPMG Sri Lanka Head of Tax and Regulatory Suresh Perera.
Global
Oil prices little changed as markets eye US government reopening
BEIJING, Nov 12 (Reuters) - Oil prices were little changed on Wednesday after rising in the previous session amid expectations that an end to the longest-ever U.S. government shutdown could boost demand in the world's biggest crude consuming nation.
US House returns to Washington for vote to end government shutdown
• House vote could end longest U.S. government shutdown
• Deal divides Democrats over healthcare subsidies extension
• SNAP food aid program would be secured until September 2026
Tuesday
11th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
Sri Lanka needs to move away from public underinvestment, says Deloitte SL and Maldives
Sri Lanka needs to overcome the issue of underspending that has taken place in the recent past, as it is looking at a very ambitious programme of capital expenditure for next year, said Deloitte Sri Lanka and Maldives Head of Risk and Transactions Strategy Ruvini Fernando, at a recent post-budget discussion. Over the past few years, the country has not allocated enough funds for important areas that would drive growth, such as health, education and public infrastructure and investments in these sectors have been below its peer countries, Fernando noted.
Hong Kong’s SiS Int’l invests in controlling stake in Gestetner of Ceylon
SiS International Holdings Limited recently invested in a controlling interest in Gestetner of Ceylon PLC, a leading player in the office automation sector in Sri Lanka, through World Elite Limited, one of its Hong Kong-based subsidiaries. Founded in Singapore in 1983 and started as a distributor of IT products, SiS International Holdings Limited has been listed on the Hong Kong Stock Exchange since 1992. Today, it has grown to become a dynamic leading distribution company with the largest network across five countries in Asia Pacific.
Remittances hit all-time high of US $ 712mn in October
Sri Lanka received its highest ever monthly income of US $ 712.0 million from the workers’ remittances in October, signalling that the country is in for a bumper year of income from the Sri Lankans working abroad. The October remittance income is higher than both what the country earned in the same period last year (US $ 587.7 million) and US $ 695.7 million earned in September 2025
September private credit hits Rs.236bn; highest on record
The licensed commercial banks extended a mammoth Rs.236.3 billion in new credit to the private sector in September 2025, marking a substantial 22.1 percent growth from a year earlier. The figure reflects the credit demand reaching record highs amid the rock-bottom interest rates and a rapidly expanding economy.
ADB extends US $ 100mn support to deepen fiscal reforms, transparency in SL
The Asian Development Bank (ADB) has approved a US $ 100 million financing package to strengthen Sri Lanka’s macroeconomic resilience and reinforce its reform momentum as the country continues its recovery from the 2022 economic crisis. The support comes at a critical juncture when the government is striving to sustain fiscal stability while pushing ahead with governance and structural reforms to create a more predictable and transparent investment climate.
Tourism starts November with 13% growth
Annual target under pressure
• SL welcomes nearly 62,000 visitors in first 9 days of November
• Industry is currently tracking slightly ahead of ‘Lower Scenario’ monthly target of 203,259
• Russia bounces back to second top source market
• On a cumulative basis, Sri Lanka has welcomed 1,952,577 tourists
Sri Lanka’s tourism industry has recorded a solid start to the winter season, welcoming 61,890 visitors during the first nine days of November 2025. This represents a 13.2 percent year-on-year growth compared to the approximately 54,686 tourists that arrived during the same period in 2024.
https://www.dailymirror.lk/business-main/Tourism-starts-November-with-13-growth/245-324620
Budget 2026 paves way for overall development
The 2026 budget will pave the way for overall development of economic, social and other sectors since the budget includes proposals aimed at establishing fiscal discipline in the country and putting the country on a development path, President of the Association of Economists of Sri Lanka Prof. Vijithapure Wimalarathana Thera said.
https://dailynews.lk/2025/11/11/business/892071/budget-2026-paves-way-for-overall-development/
Janashakthi Life soars Q3 with 249% surge in profits and 72% growth in new business premiums
Janashakthi Life, the flagship brand of JXG (Janashakthi Group) closed Q3 2025 solidifying its performance and growth momentum as one of Sri Lanka’s fastest-growing life insurers. The Company recorded a 72% year-on-year increase in regular new business, reaching LKR 1.227 billion. This growth was driven by an enhanced focus on customer acquisition, customer retention, product diversification and an expanding distribution network. Janashakthi Life also achieved a commendable 249% increase in net profit, amounting to LKR 2.793 billion as at the end of September 2025, compared to LKR 800 million in the same period last year. Total assets grew to LKR 41.508 billion, underscoring the company’s strong financial foundation and prudent capital management.
People’s Leasing opens 111th Branch in Eheliyagoda
People’s Leasing & Finance PLC (PLC), a leading non-bank financial institution and a subsidiary of People’s Bank in Sri Lanka, expanded its branch network, opening its 111th branch on November 4, at Kelin Veediya, Eheliyagoda.
https://dailynews.lk/2025/11/11/business/891925/peoples-leasing-opens-111th-branch-in-eheliyagoda/
Associated Motorways opens showroom in Matara
Associated Motorways (Private) Limited (AMW), a trusted name in Sri Lanka’s automotive industry, marked another milestone with the opening of its showroom in Matara. The opening ceremony took place on November 4, at Anagarika Dharmapala Mawatha, Walgama, Matara.
https://dailynews.lk/2025/11/11/business/891931/associated-motorways-opens-showroom-in-matara/
Global
Possible US shutdown end brings investor relief, fresh data focus
With an end to the U.S. government shutdown potentially on the horizon, investors who feared more economic fallout breathed easier and turned to an expected flood of delayed data to shed more light on growth and the likely path for interest rates.
Trump says US faces 'economic disaster' if Supreme Court rules against tariffs
U.S. President Donald Trump said on Monday the United States faced an economic and national security disaster if the Supreme Court ruled against his use of an emergency powers law to impose sweeping tariffs against nearly every country.
Monday
10th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
US firm AMG takes over Bogala Graphite’s owning company of German origin
AMG Critical Materials N.V. (AMG) and Asbury Carbons Inc. (Asbury Carbons) have announced the signing of a definitive agreement for AMG to sell Graphit Kropfmühl GmbH (GK) to Asbury Carbons, a portfolio company of Mill Rock Capital.
Ceylon Chamber says Budget 2026 reinforces policy stability, calls for faster reforms to achieve growth
• Seeks clarification on Economic Transformation Act and reforms to key investment institutions
• Suggests reform progress tied to B-Ready Index
• Urges fast-tracking legislation related to SOE and PPP reforms to deliver the growth dividends expected from structural measures
MSME Federation criticises Budget 2026 over VAT threshold reduction, lack of support
• Ceylon Federation of MSME President Mahendra Perera stresses many MSMEs continue to face liquidity challenges
• Plans to highlight concerns to authorities to establish practical mechanism that enables genuinely affected MSMEs
• Warns VAT threshold cut to Rs. 36 m from April 2026 will drag more small retailers into tax net
• Says 18% VAT burden will ultimately fall on consumers, worsening cost-of-living pressures
Colombo Port City can be Sri Lanka’s ‘single catalyst of growth,’ says Harsha Amarasekera
• Notes Port City Colombo can connect Sri Lanka to global service industries—fund management, fintech, arbitration and e-commerce
• Suggests Sri Lanka could position itself as a low-cost regional arbitration hub, attracting cases from India, Bangladesh and Pakistan and potentially hosting a branch of the Singapore International Arbitration Centre
• Clarifies Port City’s original incentive scheme remains intact and competitive, developed in collaboration with Finance Ministry, contrary to misconceptions of change
• Insists focus should shift from expanding tax incentives to simplifying investor entry, including streamlined visas, expatriate employment rules and EPF/ETF compliance for short-term foreign staff
• Asserts regulatory clarity on global income declarations and faster IP and trademark registration processes vital to build investor confidence
• States Commission aims to enact key legislative amendments soon under 2026 Budget to clear pending applications and improve framework in phases
Govt. slashes tax holidays for SDPs, improves disclosure
• Issues Gazette trimming tax holidays from 25 years to 10
• BOI to identify projects subject to Finance Ministry cost-benefit review
• Mandatory tax filing, disclosure of project outcomes, and ex-post monitoring introduced
• Finance Ministry to publish annual exemptions/tax expenditure reports on all SDPs
https://www.ft.lk/top-story/Govt-slashes-tax-holidays-for-SDPs-improves-disclosure/26-784132
Harsha slams 2026 Budget, decries Rs. 1 t deception
SJB MP points to Rs. 1 t deception; says Treasury overflowing while poor taxed more
• Says Budget 2026 built on broken promises, false narratives
• Labels housing, loan plans for State workers “a joke”
• Warns of new property tax and record Rs. 3.8 t borrowing
• Accuses Govt. of failing youth, SMEs and elderly
https://www.ft.lk/business/Harsha-slams-2026-Budget-decries-Rs-1-t-deception/34-784123
ADB approves $100 Mn to strengthen financial stability in Sri Lanka
The Asian Development Bank (ADB) has approved a $100 million loan to address complex and challenging structural reforms in Sri Lanka’s financial sector through better governance, continued policy reforms, and enhanced financial inclusion.
Servicing outpaces new loans: Govt. debt sees $ 1 b net increase
Sri Lanka’s outstanding central government debt has a mere net increase of $1 billion during the first nine months of this year, as debt servicing exceeded disbursements, the Finance Ministry said in a published report.
https://www.themorning.lk/articles/lpsABrb7ieAjq69KGNVn
Probe into illegal vehicle imports widens
• Investigations reveal several brands detained beyond EV models imported into SL
• Customs Spokesman confirms issues in other brands including Raize, Nissan X-Trail
• Cites discrepancies in declared engine capacities, import documentation
• Action against importers to follow completion of inquiries and pending court rulings
https://www.themorning.lk/articles/2JhdZAwj9QwPb5WI4YYt
Hemas posts 37% jump in quarterly profit on strong consumer demand, lower finance costs
Hemas Holdings PLC delivered another quarter of resilient performance in the three months ended September 2025, posting a 36.6 percent year-on-year (YoY) surge in earnings to Rs.2.1 billion.
Galadari Hotels to pump US $ 48.5mn into Colombo property upgrade
Galadari Hotels (Lanka) PLC is set to significantly boost its investment in refurbishing the landmark Galadari Hotel in Colombo, increasing the planned spend from US $ 33.5 million to US $ 48.5 million.
Losing millions in silence: Why Sri Lanka must lift palm oil ban now
The Planters’ Association of Ceylon (PA) is urging the government to act swiftly to lift the ban on oil palm cultivation, warning that with each passing day, the losses to the nation keep growing.
Global
US Senate on verge of advancing bill to end federal shutdown
• Senate bill would fund government through January 2026
• Bill would be amended to include three appropriations measures
• Democrats had resisted funding measure without healthcare fixes
• Trump pushes for direct payments over ACA subsidies
Before talks with Trump, Saudi Arabia doubles down on terms for Israel ties
o Saudi Crown Prince will meet Trump on November 18
o They are set to seal a defense pact at White House talks
o Trump wants Saudi Arabia to normalise ties with Israel
• Riyadh says that depends on roadmap to Palestinian state
Friday
7th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
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/
Thursday
6th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
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
Friday
31st October 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
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
Thursday
30th October 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
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/
Tuesday
28th October 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
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/
Monday
16th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Israel says it has launched strikes on Iran’s nuclear sites as blasts heard across country
• Israel has carried out strikes on Iran’s nuclear programme, the IDF has said, with blasts heard in Tehran
• The strikes were part of Operation Rising Lion, Israel’s PM Benjamin Netanyahu said, adding Iran was a threat to “Israel’s very survival”
• Israel has declared a state of emergency, saying the country expected retaliation
• In Jerusalem, residents were woken by sirens followed by a phone alert
• The strikes targeted “Iran’s nuclear programme and other military targets”, an Israeli official has said
https://www.bbc.com/news/live/c93ydeqyq71t?utm_campaign=WhatsApp+June+2&utm_medium=bitly&utm_source=WhatsApp2025
*Judge temporarily bars Trump from deploying National Guard troops in Los Angeles*
• Judge orders National Guard back to California control
• Trump administration appeals judge’s order barring National Guard deployment
• Protests mostly peaceful, but Trump says city would be in flames without troops
https://www.reuters.com/world/us/marines-prepare-los-angeles-deployment-protests-spread-across-us-2025-06-12/
*US Deploying FAA, NTSB Team to Assist in Air India Crash Probe*
• Air India confirms 241 of 242 passengers and crew on board have died
• London-bound flight AI171 crashed shortly after takeoff from Ahmedabad
• US is deploying investigators to assist with the probe
• Crash marks first complete loss of a Boeing 787 Dreamliner
• Boeing shares have biggest drop in two months
https://www.bloomberg.com/news/live-blog/2025-06-12/air-india-crash-live-updates?utm_source=whatsapp&utm_medium=social&utm_content=business
Friday
13th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Govt. and CBSL announce fresh relief for bank-linked SMEs amid recovery push
• CBSL issues directive on 9 June instructing banks to extend concessions to eligible SME borrowers
• Relief includes interest concessions, fresh lending and extended rescheduling deadlines
• SMEs who engaged banks for revival talks by 31 March eligible for support
• Deadline to finalise rescheduling agreements extended to 30 June
*COPA calls for audit on daily financial losses from train cancellations*
The Committee on Public Accounts has recommended an audit on the daily financial losses from train cancellations and called for a report on train delays, following concerns over reduced efficiency and inadequate management meetings at Sri Lanka Railways.
*IRD’s new risk-based VAT system promises refunds in 15 days*
• The statutory maximum for issuing refunds is set at 45 days, however, the department’s internal target for compliant taxpayers is much faster
• IRD Commissioner stressed the objective is to provide you with an even better system in its place
*Motor vehicle imports generate Rs. 149 b in taxes*
Sri Lanka Customs released nearly 50,000 motor vehicles between December 2024 and June 2025, generating Rs. 149.1 billion in tax revenue, reflecting strong progress toward the government's annual revenue targets following the lifting of the vehicle import ban.
https://www.themorning.lk/articles/BJhch1CBFyHZgqZaSRDQ
*Growth to slow to 3.5% amid crisis impact*
The World Bank projects Sri Lanka's economic growth to slow to 3.5% in 2025 due to lingering crisis impacts, structural challenges, and global uncertainties, warning that sustained recovery will hinge on reforms, debt management, and resilience to external shocks.
https://www.themorning.lk/articles/HQUygWH1Vrt36o9Ugptj
*BOND SCAM CASE: Financial Intelligence Unit ordered to appear in court*
The Colombo Magistrate's Court has ordered the Central Bank's Financial Intelligence Unit to appear on 11 December to explain its failure to submit account reports in the ongoing bond scam investigation involving Arjun Aloysius, Arjuna Mahendran, and others.
https://www.themorning.lk/articles/R8RbLmEqVXCDfv5QCNT9
*Ceylon Chamber welcomes ALSM inauguration*
The Association of Local Stationery Manufacturers (ALSM) was officially launched to unify Sri Lanka's stationery industry, aiming to promote collaboration, influence policy, and boost export potential while supporting national education and sustainable practices.
https://www.themorning.lk/articles/sWGWgmeRdU4Sx9EnmXbu
*Plans to utilize accreditation process well to boost export sector*
Trade Minister Wasantha Samarasighe emphasized that strengthening Sri Lanka's accreditation process through SLAB will boost exports, enhance global market access, and empower SMEs by ensuring product quality and international recognition.
*LOLC AL-Falaah Wadi’ah Gold Storage Facility hits Rs. 3 Bn milestone*
LOLC Al-Falaah has become the first NBFI in Sri Lanka to launch the ethical Wadi’ah Gold Storage Facility, surpassing a Rs. 3 billion portfolio by offering transparent, Sharia-compliant gold-backed cash advances that promote financial inclusion and trust among underserved communities.
*Vidullanka breaks new ground with Sri Lanka’s first-ever listed Sukuk*
• Initiative marks milestone in ethical investing and capital market diversification
• Sukuk issuance approved by CSE and SEC, raising Rs. 500 m with subscriptions opening 17 June
• Vidullanka CEO Riyaz Sangani says it offers fixed and floating return options, with investors becoming partial owners of mini hydropower plant under Shariah-compliant lease structure
• Developed with input from regulatory bodies and international Shariah scholars, backed by Fitch A+(lka) rating and led by NDB Investment Bank and Adl Capital
• Move will catalyze growth in Sri Lanka’s Islamic capital markets, provide new funding model for corporates
Thursday
12th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
President meets German counterpart in Berlin
President Anura Kumara Disanayake, who is currently on an official visit to the Federal Republic of Germany, was warmly received yesterday by German President Frank-Walter Steinmeier.
https://www.ft.lk/front-page/President-meets-German-counterpart-in-Berlin/44-777633
*Cabinet approves resumption of land acquisition for Central Expressway Phase IV*
• Compensation to be paid for previously acquired plots; new acquisitions proceed under Land Acquisition Act
• Phase IV stands at 73.2% completion; project aims to boost national connectivity
• Completion to improve access to Northern, North Central, Eastern and Central provinces
*Sri Lanka’s growth forecast to decelerate to 3.5% this year: WB*
The World Bank (WB) yesterday revealed that growth in Sri Lanka is forecast to decelerate to 3.5% this year, reflecting the scarring effects of the crisis, structural impediments to growth, and heightened global economic uncertainties.
https://www.ft.lk/front-page/Sri-Lanka-s-growth-forecast-to-decelerate-to-3-5-this-year-WB/44-777627
*World Bank cuts 2025 growth forecasts for 70% of economies*
Heightened trade tensions and policy uncertainty are expected to drive global growth down this year to its slowest pace since 2008 outside of outright global recessions, according to the World Bank’s latest Global Economic Prospects report. The turmoil has resulted in growth forecasts being cut in nearly 70% of all economies—across all regions and income groups.
https://www.ft.lk/front-page/World-Bank-cuts-2025-growth-forecasts-for-70-of-economies/44-777628
*Electricity tariffs up 15% from today*
• Tariff increase follows a comprehensive review of CEB request for an 18.3% hike
• PUCSL emphasises that decision aligns with cost-reflective pricing methodology approved by law
• Revision comes ahead of IMF First Deputy Managing Director’s visit next week
• Electricity pricing reform has been a central condition under Sri Lanka’s ongoing programme with IMF
https://www.dailymirror.lk/business-main/Electricity-tariffs-up-15-from-today/245-311318
*Sri Lanka set to outperform fiscal target for third year*
• Strong Q1 primary surplus and rising vehicle import duties drive continued overperformance
• Revenue collection agencies already exceeding targets, signaling robust economic momentum
https://www.themorning.lk/articles/6NSMvlkiPGhPATjbqXOh
*Indian visitors lead SL’s tourist arrivals*
The latest figures released by the Sri Lanka Tourism Development Authority (SLTDA) indicate that the country continues to attract a large number of tourists from India. The number of tourists who arrived in the country in the first five days of June stood at 21,293, the SLTDA stated.
https://www.themorning.lk/articles/YzrcM1KQOP5FSJ7soNQD
*NAVIGATING GLOBAL TRADE SHIFTS: Sri Lanka exports for global success*
Sri Lanka has weathered a relentless succession of economic shocks in recent years. The turmoil began with the constitutional crisis in 2018, followed by the tragic Easter Sunday attacks in 2019.
https://www.themorning.lk/articles/UO7zFpdDS71H5xZqlmZ5
*Asia sees ‘concerning’ rise in long payment delays: Report*
Companies across the Asia-Pacific region - and especially those in China - are becoming more cautious about selling on credit, as a turbulent global economy leads to a “concerning” rise in long payment delays, a new report has found.
https://www.themorning.lk/articles/bjJXmglwRF6DXiUhW71c
*Trump Says Again He’ll Set Unilateral Tariffs in Two Weeks*
President Donald Trump said he intended to send letters to trading partners in the next one to two weeks setting unilateral tariff rates, ahead of a July 9 deadline to reimpose higher duties on dozens of economies.
*Hela Apparel divests two subsidiaries for Rs. 2.7 b as part of ongoing restructuring*
It said this forms part of a broader turnaround strategy focused on structural simplification and performance improvement, with the objective of positioning its operations for recovery in the coming financial year and enhancing long-term competitiveness.
*LOFC announces mega Rs. 21 b share buy-back offer*
The LOLC Finance PLC (LOFC) Board of Directors in order to optimise its shareholder value while maintaining the company’s financial stability, has resolved to repurchase 3,519,065,138 shares at Rs. 6 each in a deal worth Rs. 21.1 billion.
https://www.ft.lk/front-page/LOFC-announces-mega-Rs-21-b-share-buy-back-offer/44-777634
Wednesday
11th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Waiting Update
Tuesday
10th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Public & Bank Holiday
Markets Closed in Sri Lanka
Monday
9th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
EDB outlines trade potential and ethical manufacturing strengths
• EDB Chairman Mangala Wijesinghe stressed on resilient and principled export economy ready to deepen ties with Chinese market
• Says China is ranked as Sri Lanka’s 10th largest export destination with value at $ 251.9 m in 2024
• Asserts significant untapped potential in both traditional and emerging product categories
• Highlights readiness to expand export footprint in China through range of high potential products including Ceylon tea, coconut-based products, processed food, fish and fishery products, spices, organic products, fruits and poultry products
*Sarvodaya Development Finance to issue first-ever Sustainable Bonds to raise Rs. 2 b*
Sarvodaya Development Finance PLC is to issue Sri Lanka’s first-ever Sustainable Bonds to raise Rs. 2 billion. Its Board of Directors last week decided to issue up to 20 million Tier 2, rated, unsecured, subordinated, redeemable high-yield Sustainable Bonds at Rs. 100 each. The issue is subject to necessary regulatory approval.
*Sigiriya’s recognition as Lanka’s first sustainable tourism destination sets benchmark”*
Deputy Minister of Tourism Prof. Ruwan Ranasinghe said that Sigiriya’s recognition as Sri Lanka’s first sustainable tourism destination sets a benchmark for similar efforts across the country.
*Sri Lanka Tourism to launch Nation Branding Campaign*
Sri Lanka Tourism is set to launch its most awaited Nation Branding Campaign on June 26, 2025, in Colombo, bringing together key players from the public and private sectors to drive a unified vision for the country’s tourism sector.
*SL aims for 50% ECT completion by end 2025*
• Construction of ECT fast-tracked after significant delays due to corruption
• $ 585 m project set for 2026 completion to enhance Colombo Port’s capacity
https://www.themorning.lk/articles/XIcT2nulIN2M1aNxOLzm
*Remittances up 18% y-o-y*
Sri Lanka’s year-on-year (y-o-y) remittances for the first five months of the year exceeded $ 3 billion in the first five months, up by 18.2% from the same period last year ($ 2.62 billion), data from the Central Bank of Sri Lanka (CBSL) shows.
https://www.themorning.lk/articles/XPdY4UJxVIP5i8UX06v3
*$ 530 m in vehicle import LCs opened*
• Govt. confirms no restrictions on vehicle types following import ban lift
• Vehicle imports align with State targets despite concerns over high prices
• IMF agreement rules out any tax cuts on vehicles for 2025
https://www.themorning.lk/articles/2Zh5KicUhzl4WhyAdlZg
*IPO momentum builds as CSE eyes derivatives market entry*
• 5-6 IPOs lined up as market hits record highs
• Foreign investor inflows remain subdued despite local rally
• CSE and India’s NCDEX shortlisted to launch SL’s first derivatives exchange
• New exchange will not be based in Port City: CSE chief
https://www.themorning.lk/articles/EoFY4OJSNhhOCYTHD1cU
*India and Sri Lanka eye dual listing to build ‘financial bridge’ between capital markets*
• Move would allow Sri Lankan firms to raise USD capital via India’s GIFT City for global expansion
• Initiative designed as a two-way partnership, with Sri Lanka also inviting Indian companies to list on the CSE
*Tourism earnings climb to US$ 1.54bn in first five months*
May tourism earnings up by 6.5% YoY to US$ 164.1mn
*Sri Lanka repays foreign debt in budget to April 2025, current spending picks up*
ECONOMYNEXT – Foreign financing of Sri Lanka’s budget was negative up to April 2025 by 27.9 billion rupees, up from 7.4 billion last year, official data shows indicating that foreign debt was being repaid on a net basis again.
*Sri Lanka’s Elephant House drinks distribution begins in India*
ECONOMYNEXT – Distribution of Elephant House beverages in India has started, under a partnership struck with Reliance Retail Ventures Limited, Ceylon Cold Stores, a unit of Sri Lanka’s John Keells Holdings said.
https://economynext.com/sri-lankas-elephant-house-drinks-distribution-begins-in-india-224527/
Friday
6th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Sugar importers warn against tax hike, say consumers will pay the price
Sugar importers have urged President Anura Kumara Dissanayake not to raise the current Rs. 50/kg import tax, warning it would inflate prices, benefit large stockholders unfairly, harm small importers, and disrupt the market, as local sugar covers only 10% of demand and is unsuitable for industrial use.
SLBFE faces CoPE scrutiny over Rs. 1 b in unauthorised spending, financial mismanagement
• CoPE uncovers SLBFE spending over Rs. 1.3 b on unapproved programs in 2024, bypassing Cabinet approval
• ‘Glocal Fair’ alone costs Rs. 1.259 b, far exceeding usual Rs. 2 m outreach allocation
• Trade stall procurement costs jump from Rs. 170,000 to Rs. 500,000 without clear explanation
• CoPE Chief accuses SLBFE of wasting funds on non-strategic, unplanned activities
• ‘Rataviruwo’ housing loan scheme fails; Rs. 100 m remains unpaid, with no beneficiary data
• Urges better use of SLBFE’s Rs. 18 b in fixed deposits
• Kuwait Compensation Fund worth Rs. 5.1 b remains underutilised; plans made for training and pensions
• Fraud surfaces in migrant worker registration, with agencies falsely claiming fee refunds
• Sub-committee to probe financial fraud by employment agencies
DFCC Bank acts as Lead Arranger in $ 100 m loan for India’s Satin Creditcare
DFCC Bank PLC has joined as a Lead Arranger in a $100 million syndicated social loan for India’s Satin Creditcare Network Ltd., supporting financial inclusion and women’s empowerment through collateral-free microloans in rural and semi-urban areas.
Salt Production: May take 3-4 months to normalise
Sri Lanka's salt production has dropped over 35% due to prolonged rains, but the Ministry of Trade assures no shortage as daily salt imports fill the gap, with normal production expected to resume in 3–4 months depending on weather conditions.
https://www.themorning.lk/articles/jniYXCKKekdPmgDOm1Ug
Sri Lanka spends Rs. 1.5 t on debt
• Over 20% of annual borrowing limit utilised for principal and interest payments by April
• Domestic debt service accounts for a large portion; GDP projection for 2025 revised down
https://www.themorning.lk/articles/G04xkM1FzDRMDdDOjftl
Oil prices slip on a Saudi price cut and a US inventory build
Crude oil prices fell as traders reacted to rising U.S. fuel inventories, Saudi Arabia's price cuts to near four-year lows, and OPEC+ plans to boost output, despite ongoing expectations of a supply surplus that has yet to materialize.
https://www.themorning.lk/articles/iHD1yj6jbns77woWSUAj
Korean Ambassador explores investment opportunities at H’tota International Port
Korean Ambassador Miyon Lee visited Hambantota International Port in May to assess its operations and discuss potential investment opportunities, with HIP promoting the port as a strategic hub for Korean trade and manufacturing.
Ceylon Chamber hosts EU Delegation
The Ceylon Chamber of Commerce hosted Poland’s Foreign Minister Radosław Sikorski and an EU delegation to strengthen EU-Sri Lanka trade and investment ties, focusing on key sectors like apparel, tourism, IT, and energy, while highlighting the private sector's role in sustainable economic collaboration.
https://www.dailynews.lk/2025/06/06/business/791434/ceylon-chamber-hosts-eu-delegation/
LOLC Group posts Rs. 41 b net profit; assets top Rs. 2 t mark
LOLC Holdings PLC reported a record after-tax profit of Rs. 41 billion for FY 2024/25—an 89% increase—driven by strong financial services performance, strategic global acquisitions, and expanding presence across over 25 countries and multiple sectors.
https://www.ft.lk/top-story/LOLC-Group-posts-Rs-41-b-net-profit-assets-top-Rs-2-t-mark/26-777362
United Motor Lanka returns to profitability after years of losses
United Motors Lanka PLC returned to profitability in FY2024/25 with a Rs. 73 million profit, driven by the lifting of Sri Lanka’s vehicle import ban, strong performance from its Dutch Lanka Trailers acquisition, and strategic shifts including local assembly, diversification, and plans to introduce electric vehicles.
https://www.themorning.lk/articles/60AEi9fJ1oXp5X3Ik2o6
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/
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/
Friday
13th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Friday
13th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Govt. and CBSL announce fresh relief for bank-linked SMEs amid recovery push
• CBSL issues directive on 9 June instructing banks to extend concessions to eligible SME borrowers
• Relief includes interest concessions, fresh lending and extended rescheduling deadlines
• SMEs who engaged banks for revival talks by 31 March eligible for support
• Deadline to finalise rescheduling agreements extended to 30 June
*COPA calls for audit on daily financial losses from train cancellations*
The Committee on Public Accounts has recommended an audit on the daily financial losses from train cancellations and called for a report on train delays, following concerns over reduced efficiency and inadequate management meetings at Sri Lanka Railways.
*IRD’s new risk-based VAT system promises refunds in 15 days*
• The statutory maximum for issuing refunds is set at 45 days, however, the department’s internal target for compliant taxpayers is much faster
• IRD Commissioner stressed the objective is to provide you with an even better system in its place
*Motor vehicle imports generate Rs. 149 b in taxes*
Sri Lanka Customs released nearly 50,000 motor vehicles between December 2024 and June 2025, generating Rs. 149.1 billion in tax revenue, reflecting strong progress toward the government's annual revenue targets following the lifting of the vehicle import ban.
https://www.themorning.lk/articles/BJhch1CBFyHZgqZaSRDQ
*Growth to slow to 3.5% amid crisis impact*
The World Bank projects Sri Lanka's economic growth to slow to 3.5% in 2025 due to lingering crisis impacts, structural challenges, and global uncertainties, warning that sustained recovery will hinge on reforms, debt management, and resilience to external shocks.
https://www.themorning.lk/articles/HQUygWH1Vrt36o9Ugptj
*BOND SCAM CASE: Financial Intelligence Unit ordered to appear in court*
The Colombo Magistrate's Court has ordered the Central Bank's Financial Intelligence Unit to appear on 11 December to explain its failure to submit account reports in the ongoing bond scam investigation involving Arjun Aloysius, Arjuna Mahendran, and others.
https://www.themorning.lk/articles/R8RbLmEqVXCDfv5QCNT9
*Ceylon Chamber welcomes ALSM inauguration*
The Association of Local Stationery Manufacturers (ALSM) was officially launched to unify Sri Lanka's stationery industry, aiming to promote collaboration, influence policy, and boost export potential while supporting national education and sustainable practices.
https://www.themorning.lk/articles/sWGWgmeRdU4Sx9EnmXbu
*Plans to utilize accreditation process well to boost export sector*
Trade Minister Wasantha Samarasighe emphasized that strengthening Sri Lanka's accreditation process through SLAB will boost exports, enhance global market access, and empower SMEs by ensuring product quality and international recognition.
*LOLC AL-Falaah Wadi’ah Gold Storage Facility hits Rs. 3 Bn milestone*
LOLC Al-Falaah has become the first NBFI in Sri Lanka to launch the ethical Wadi’ah Gold Storage Facility, surpassing a Rs. 3 billion portfolio by offering transparent, Sharia-compliant gold-backed cash advances that promote financial inclusion and trust among underserved communities.
*Vidullanka breaks new ground with Sri Lanka’s first-ever listed Sukuk*
• Initiative marks milestone in ethical investing and capital market diversification
• Sukuk issuance approved by CSE and SEC, raising Rs. 500 m with subscriptions opening 17 June
• Vidullanka CEO Riyaz Sangani says it offers fixed and floating return options, with investors becoming partial owners of mini hydropower plant under Shariah-compliant lease structure
• Developed with input from regulatory bodies and international Shariah scholars, backed by Fitch A+(lka) rating and led by NDB Investment Bank and Adl Capital
• Move will catalyze growth in Sri Lanka’s Islamic capital markets, provide new funding model for corporates
Wednesday
12th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
Treasury Secretary outlines 2026 Budgets’ six-pronged growth vision
• Dr. Harshana Suriyapperuma says Govt. targets 7% GDP rise via stability, transparency and digitisation at Daily FT-University of Colombo MBA Alumni Association post-Budget forum
Standard Chartered CEO hails ‘doable’ Budget 2026
• Bingumal Thewarathanthri says outlook ‘cautiously optimistic’ amid fiscal constraints and reform momentum
https://www.ft.lk/front-page/Standard-Chartered-CEO-hails-doable-Budget-2026/44-784234
Challenging revenue targets for 2026 amid rigid spending and weak welfare coverage: Economist
• Dr. Roshan Perera urges continued fiscal discipline beyond IMF program
Fitch gives positive signal about Sri Lanka’s 2026 Budget
• With $ 347 m IMF tranche on hold, Fitch gives positive message about 2026 Budget
• Says Govt. demonstrates continued commitment to fiscal consolidation, reducing debt/GDP over medium term
• Fiscal deficit seen widening to 5.1% of GDP; primary surplus easing to 2.5%
• Medium term risks remain; warns revenue slowdown, underspending on investment could test fiscal goals
• High debt levels and post-2027 repayments remain key credit vulnerabilities
https://www.ft.lk/front-page/Fitch-gives-positive-signal-about-Sri-Lanka-s-2026-Budget/44-784231
DFCC Bank sustains growth momentum in 3Q
• Posts Rs. 8.5 b core business PAT at Group level
• Bank achieves PAT of Rs. 13.3 b including disposal gain from Acuity Partners
• Group total assets up 20% to Rs. 853 b
https://www.ft.lk/front-page/DFCC-Bank-sustains-growth-momentum-in-3Q/44-784230
LOLC Finance reports Rs. 14 b 1H PAT
• Profit After Tax up sharply by 72%
• Gross lending portfolio increases 18% to Rs. 360 b
https://www.ft.lk/front-page/LOLC-Finance-reports-Rs-14-b-1H-PAT/44-784229
JKCG updates customers on detained BYD vehicles
John Keells CG Auto (JKCG) yesterday issued a statement updating its customers and stakeholders on the ongoing proceedings before the Court of Appeal regarding the detention of certain consignments of BYD vehicles by Sri Lanka Customs.
https://www.ft.lk/front-page/JKCG-updates-customers-on-detained-BYD-vehicles/44-784228
Gold prices increase by Rs. 8,000
Sri Lanka’s gold prices once again rose by Rs. 8,000 yesterday (11), following a significant increase in the price of gold in the world market.
https://www.themorning.lk/articles/JSpipg6YXO8rZG7sZhI8
Textile and apparel industry: CESS and duty revisions welcomed
The Sri Lankan Government’s consideration of providing CESS and duty revisions in its 2026 Budget provisions has been welcomed by the Sri Lanka Apparel Brands Association (SLABA), a statement released by the association said.
https://www.themorning.lk/articles/AlpF5zu9p1wS9ETjhgqe
Tax experts say lower VAT threshold could strain market
The reduction of Sri Lanka’s Value Added Tax (VAT) and Social Security Contribution Levy registration thresholds from Rs.60 million to Rs.36 million per year is expected to have a significant impact on the market next year, according to KPMG Sri Lanka Head of Tax and Regulatory Suresh Perera.
Global
Oil prices little changed as markets eye US government reopening
BEIJING, Nov 12 (Reuters) - Oil prices were little changed on Wednesday after rising in the previous session amid expectations that an end to the longest-ever U.S. government shutdown could boost demand in the world's biggest crude consuming nation.
US House returns to Washington for vote to end government shutdown
• House vote could end longest U.S. government shutdown
• Deal divides Democrats over healthcare subsidies extension
• SNAP food aid program would be secured until September 2026
Tuesday
11th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
Sri Lanka needs to move away from public underinvestment, says Deloitte SL and Maldives
Sri Lanka needs to overcome the issue of underspending that has taken place in the recent past, as it is looking at a very ambitious programme of capital expenditure for next year, said Deloitte Sri Lanka and Maldives Head of Risk and Transactions Strategy Ruvini Fernando, at a recent post-budget discussion. Over the past few years, the country has not allocated enough funds for important areas that would drive growth, such as health, education and public infrastructure and investments in these sectors have been below its peer countries, Fernando noted.
Hong Kong’s SiS Int’l invests in controlling stake in Gestetner of Ceylon
SiS International Holdings Limited recently invested in a controlling interest in Gestetner of Ceylon PLC, a leading player in the office automation sector in Sri Lanka, through World Elite Limited, one of its Hong Kong-based subsidiaries. Founded in Singapore in 1983 and started as a distributor of IT products, SiS International Holdings Limited has been listed on the Hong Kong Stock Exchange since 1992. Today, it has grown to become a dynamic leading distribution company with the largest network across five countries in Asia Pacific.
Remittances hit all-time high of US $ 712mn in October
Sri Lanka received its highest ever monthly income of US $ 712.0 million from the workers’ remittances in October, signalling that the country is in for a bumper year of income from the Sri Lankans working abroad. The October remittance income is higher than both what the country earned in the same period last year (US $ 587.7 million) and US $ 695.7 million earned in September 2025
September private credit hits Rs.236bn; highest on record
The licensed commercial banks extended a mammoth Rs.236.3 billion in new credit to the private sector in September 2025, marking a substantial 22.1 percent growth from a year earlier. The figure reflects the credit demand reaching record highs amid the rock-bottom interest rates and a rapidly expanding economy.
ADB extends US $ 100mn support to deepen fiscal reforms, transparency in SL
The Asian Development Bank (ADB) has approved a US $ 100 million financing package to strengthen Sri Lanka’s macroeconomic resilience and reinforce its reform momentum as the country continues its recovery from the 2022 economic crisis. The support comes at a critical juncture when the government is striving to sustain fiscal stability while pushing ahead with governance and structural reforms to create a more predictable and transparent investment climate.
Tourism starts November with 13% growth
Annual target under pressure
• SL welcomes nearly 62,000 visitors in first 9 days of November
• Industry is currently tracking slightly ahead of ‘Lower Scenario’ monthly target of 203,259
• Russia bounces back to second top source market
• On a cumulative basis, Sri Lanka has welcomed 1,952,577 tourists
Sri Lanka’s tourism industry has recorded a solid start to the winter season, welcoming 61,890 visitors during the first nine days of November 2025. This represents a 13.2 percent year-on-year growth compared to the approximately 54,686 tourists that arrived during the same period in 2024.
https://www.dailymirror.lk/business-main/Tourism-starts-November-with-13-growth/245-324620
Budget 2026 paves way for overall development
The 2026 budget will pave the way for overall development of economic, social and other sectors since the budget includes proposals aimed at establishing fiscal discipline in the country and putting the country on a development path, President of the Association of Economists of Sri Lanka Prof. Vijithapure Wimalarathana Thera said.
https://dailynews.lk/2025/11/11/business/892071/budget-2026-paves-way-for-overall-development/
Janashakthi Life soars Q3 with 249% surge in profits and 72% growth in new business premiums
Janashakthi Life, the flagship brand of JXG (Janashakthi Group) closed Q3 2025 solidifying its performance and growth momentum as one of Sri Lanka’s fastest-growing life insurers. The Company recorded a 72% year-on-year increase in regular new business, reaching LKR 1.227 billion. This growth was driven by an enhanced focus on customer acquisition, customer retention, product diversification and an expanding distribution network. Janashakthi Life also achieved a commendable 249% increase in net profit, amounting to LKR 2.793 billion as at the end of September 2025, compared to LKR 800 million in the same period last year. Total assets grew to LKR 41.508 billion, underscoring the company’s strong financial foundation and prudent capital management.
People’s Leasing opens 111th Branch in Eheliyagoda
People’s Leasing & Finance PLC (PLC), a leading non-bank financial institution and a subsidiary of People’s Bank in Sri Lanka, expanded its branch network, opening its 111th branch on November 4, at Kelin Veediya, Eheliyagoda.
https://dailynews.lk/2025/11/11/business/891925/peoples-leasing-opens-111th-branch-in-eheliyagoda/
Associated Motorways opens showroom in Matara
Associated Motorways (Private) Limited (AMW), a trusted name in Sri Lanka’s automotive industry, marked another milestone with the opening of its showroom in Matara. The opening ceremony took place on November 4, at Anagarika Dharmapala Mawatha, Walgama, Matara.
https://dailynews.lk/2025/11/11/business/891931/associated-motorways-opens-showroom-in-matara/
Global
Possible US shutdown end brings investor relief, fresh data focus
With an end to the U.S. government shutdown potentially on the horizon, investors who feared more economic fallout breathed easier and turned to an expected flood of delayed data to shed more light on growth and the likely path for interest rates.
Trump says US faces 'economic disaster' if Supreme Court rules against tariffs
U.S. President Donald Trump said on Monday the United States faced an economic and national security disaster if the Supreme Court ruled against his use of an emergency powers law to impose sweeping tariffs against nearly every country.
Monday
10th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
US firm AMG takes over Bogala Graphite’s owning company of German origin
AMG Critical Materials N.V. (AMG) and Asbury Carbons Inc. (Asbury Carbons) have announced the signing of a definitive agreement for AMG to sell Graphit Kropfmühl GmbH (GK) to Asbury Carbons, a portfolio company of Mill Rock Capital.
Ceylon Chamber says Budget 2026 reinforces policy stability, calls for faster reforms to achieve growth
• Seeks clarification on Economic Transformation Act and reforms to key investment institutions
• Suggests reform progress tied to B-Ready Index
• Urges fast-tracking legislation related to SOE and PPP reforms to deliver the growth dividends expected from structural measures
MSME Federation criticises Budget 2026 over VAT threshold reduction, lack of support
• Ceylon Federation of MSME President Mahendra Perera stresses many MSMEs continue to face liquidity challenges
• Plans to highlight concerns to authorities to establish practical mechanism that enables genuinely affected MSMEs
• Warns VAT threshold cut to Rs. 36 m from April 2026 will drag more small retailers into tax net
• Says 18% VAT burden will ultimately fall on consumers, worsening cost-of-living pressures
Colombo Port City can be Sri Lanka’s ‘single catalyst of growth,’ says Harsha Amarasekera
• Notes Port City Colombo can connect Sri Lanka to global service industries—fund management, fintech, arbitration and e-commerce
• Suggests Sri Lanka could position itself as a low-cost regional arbitration hub, attracting cases from India, Bangladesh and Pakistan and potentially hosting a branch of the Singapore International Arbitration Centre
• Clarifies Port City’s original incentive scheme remains intact and competitive, developed in collaboration with Finance Ministry, contrary to misconceptions of change
• Insists focus should shift from expanding tax incentives to simplifying investor entry, including streamlined visas, expatriate employment rules and EPF/ETF compliance for short-term foreign staff
• Asserts regulatory clarity on global income declarations and faster IP and trademark registration processes vital to build investor confidence
• States Commission aims to enact key legislative amendments soon under 2026 Budget to clear pending applications and improve framework in phases
Govt. slashes tax holidays for SDPs, improves disclosure
• Issues Gazette trimming tax holidays from 25 years to 10
• BOI to identify projects subject to Finance Ministry cost-benefit review
• Mandatory tax filing, disclosure of project outcomes, and ex-post monitoring introduced
• Finance Ministry to publish annual exemptions/tax expenditure reports on all SDPs
https://www.ft.lk/top-story/Govt-slashes-tax-holidays-for-SDPs-improves-disclosure/26-784132
Harsha slams 2026 Budget, decries Rs. 1 t deception
SJB MP points to Rs. 1 t deception; says Treasury overflowing while poor taxed more
• Says Budget 2026 built on broken promises, false narratives
• Labels housing, loan plans for State workers “a joke”
• Warns of new property tax and record Rs. 3.8 t borrowing
• Accuses Govt. of failing youth, SMEs and elderly
https://www.ft.lk/business/Harsha-slams-2026-Budget-decries-Rs-1-t-deception/34-784123
ADB approves $100 Mn to strengthen financial stability in Sri Lanka
The Asian Development Bank (ADB) has approved a $100 million loan to address complex and challenging structural reforms in Sri Lanka’s financial sector through better governance, continued policy reforms, and enhanced financial inclusion.
Servicing outpaces new loans: Govt. debt sees $ 1 b net increase
Sri Lanka’s outstanding central government debt has a mere net increase of $1 billion during the first nine months of this year, as debt servicing exceeded disbursements, the Finance Ministry said in a published report.
https://www.themorning.lk/articles/lpsABrb7ieAjq69KGNVn
Probe into illegal vehicle imports widens
• Investigations reveal several brands detained beyond EV models imported into SL
• Customs Spokesman confirms issues in other brands including Raize, Nissan X-Trail
• Cites discrepancies in declared engine capacities, import documentation
• Action against importers to follow completion of inquiries and pending court rulings
https://www.themorning.lk/articles/2JhdZAwj9QwPb5WI4YYt
Hemas posts 37% jump in quarterly profit on strong consumer demand, lower finance costs
Hemas Holdings PLC delivered another quarter of resilient performance in the three months ended September 2025, posting a 36.6 percent year-on-year (YoY) surge in earnings to Rs.2.1 billion.
Galadari Hotels to pump US $ 48.5mn into Colombo property upgrade
Galadari Hotels (Lanka) PLC is set to significantly boost its investment in refurbishing the landmark Galadari Hotel in Colombo, increasing the planned spend from US $ 33.5 million to US $ 48.5 million.
Losing millions in silence: Why Sri Lanka must lift palm oil ban now
The Planters’ Association of Ceylon (PA) is urging the government to act swiftly to lift the ban on oil palm cultivation, warning that with each passing day, the losses to the nation keep growing.
Global
US Senate on verge of advancing bill to end federal shutdown
• Senate bill would fund government through January 2026
• Bill would be amended to include three appropriations measures
• Democrats had resisted funding measure without healthcare fixes
• Trump pushes for direct payments over ACA subsidies
Before talks with Trump, Saudi Arabia doubles down on terms for Israel ties
o Saudi Crown Prince will meet Trump on November 18
o They are set to seal a defense pact at White House talks
o Trump wants Saudi Arabia to normalise ties with Israel
• Riyadh says that depends on roadmap to Palestinian state
Friday
7th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
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/
Thursday
6th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
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
Friday
31st October 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
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
Thursday
30th October 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
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/
Tuesday
28th October 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
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/
Monday
16th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Israel says it has launched strikes on Iran’s nuclear sites as blasts heard across country
• Israel has carried out strikes on Iran’s nuclear programme, the IDF has said, with blasts heard in Tehran
• The strikes were part of Operation Rising Lion, Israel’s PM Benjamin Netanyahu said, adding Iran was a threat to “Israel’s very survival”
• Israel has declared a state of emergency, saying the country expected retaliation
• In Jerusalem, residents were woken by sirens followed by a phone alert
• The strikes targeted “Iran’s nuclear programme and other military targets”, an Israeli official has said
https://www.bbc.com/news/live/c93ydeqyq71t?utm_campaign=WhatsApp+June+2&utm_medium=bitly&utm_source=WhatsApp2025
*Judge temporarily bars Trump from deploying National Guard troops in Los Angeles*
• Judge orders National Guard back to California control
• Trump administration appeals judge’s order barring National Guard deployment
• Protests mostly peaceful, but Trump says city would be in flames without troops
https://www.reuters.com/world/us/marines-prepare-los-angeles-deployment-protests-spread-across-us-2025-06-12/
*US Deploying FAA, NTSB Team to Assist in Air India Crash Probe*
• Air India confirms 241 of 242 passengers and crew on board have died
• London-bound flight AI171 crashed shortly after takeoff from Ahmedabad
• US is deploying investigators to assist with the probe
• Crash marks first complete loss of a Boeing 787 Dreamliner
• Boeing shares have biggest drop in two months
https://www.bloomberg.com/news/live-blog/2025-06-12/air-india-crash-live-updates?utm_source=whatsapp&utm_medium=social&utm_content=business
Friday
13th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Govt. and CBSL announce fresh relief for bank-linked SMEs amid recovery push
• CBSL issues directive on 9 June instructing banks to extend concessions to eligible SME borrowers
• Relief includes interest concessions, fresh lending and extended rescheduling deadlines
• SMEs who engaged banks for revival talks by 31 March eligible for support
• Deadline to finalise rescheduling agreements extended to 30 June
*COPA calls for audit on daily financial losses from train cancellations*
The Committee on Public Accounts has recommended an audit on the daily financial losses from train cancellations and called for a report on train delays, following concerns over reduced efficiency and inadequate management meetings at Sri Lanka Railways.
*IRD’s new risk-based VAT system promises refunds in 15 days*
• The statutory maximum for issuing refunds is set at 45 days, however, the department’s internal target for compliant taxpayers is much faster
• IRD Commissioner stressed the objective is to provide you with an even better system in its place
*Motor vehicle imports generate Rs. 149 b in taxes*
Sri Lanka Customs released nearly 50,000 motor vehicles between December 2024 and June 2025, generating Rs. 149.1 billion in tax revenue, reflecting strong progress toward the government's annual revenue targets following the lifting of the vehicle import ban.
https://www.themorning.lk/articles/BJhch1CBFyHZgqZaSRDQ
*Growth to slow to 3.5% amid crisis impact*
The World Bank projects Sri Lanka's economic growth to slow to 3.5% in 2025 due to lingering crisis impacts, structural challenges, and global uncertainties, warning that sustained recovery will hinge on reforms, debt management, and resilience to external shocks.
https://www.themorning.lk/articles/HQUygWH1Vrt36o9Ugptj
*BOND SCAM CASE: Financial Intelligence Unit ordered to appear in court*
The Colombo Magistrate's Court has ordered the Central Bank's Financial Intelligence Unit to appear on 11 December to explain its failure to submit account reports in the ongoing bond scam investigation involving Arjun Aloysius, Arjuna Mahendran, and others.
https://www.themorning.lk/articles/R8RbLmEqVXCDfv5QCNT9
*Ceylon Chamber welcomes ALSM inauguration*
The Association of Local Stationery Manufacturers (ALSM) was officially launched to unify Sri Lanka's stationery industry, aiming to promote collaboration, influence policy, and boost export potential while supporting national education and sustainable practices.
https://www.themorning.lk/articles/sWGWgmeRdU4Sx9EnmXbu
*Plans to utilize accreditation process well to boost export sector*
Trade Minister Wasantha Samarasighe emphasized that strengthening Sri Lanka's accreditation process through SLAB will boost exports, enhance global market access, and empower SMEs by ensuring product quality and international recognition.
*LOLC AL-Falaah Wadi’ah Gold Storage Facility hits Rs. 3 Bn milestone*
LOLC Al-Falaah has become the first NBFI in Sri Lanka to launch the ethical Wadi’ah Gold Storage Facility, surpassing a Rs. 3 billion portfolio by offering transparent, Sharia-compliant gold-backed cash advances that promote financial inclusion and trust among underserved communities.
*Vidullanka breaks new ground with Sri Lanka’s first-ever listed Sukuk*
• Initiative marks milestone in ethical investing and capital market diversification
• Sukuk issuance approved by CSE and SEC, raising Rs. 500 m with subscriptions opening 17 June
• Vidullanka CEO Riyaz Sangani says it offers fixed and floating return options, with investors becoming partial owners of mini hydropower plant under Shariah-compliant lease structure
• Developed with input from regulatory bodies and international Shariah scholars, backed by Fitch A+(lka) rating and led by NDB Investment Bank and Adl Capital
• Move will catalyze growth in Sri Lanka’s Islamic capital markets, provide new funding model for corporates
Thursday
12th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
President meets German counterpart in Berlin
President Anura Kumara Disanayake, who is currently on an official visit to the Federal Republic of Germany, was warmly received yesterday by German President Frank-Walter Steinmeier.
https://www.ft.lk/front-page/President-meets-German-counterpart-in-Berlin/44-777633
*Cabinet approves resumption of land acquisition for Central Expressway Phase IV*
• Compensation to be paid for previously acquired plots; new acquisitions proceed under Land Acquisition Act
• Phase IV stands at 73.2% completion; project aims to boost national connectivity
• Completion to improve access to Northern, North Central, Eastern and Central provinces
*Sri Lanka’s growth forecast to decelerate to 3.5% this year: WB*
The World Bank (WB) yesterday revealed that growth in Sri Lanka is forecast to decelerate to 3.5% this year, reflecting the scarring effects of the crisis, structural impediments to growth, and heightened global economic uncertainties.
https://www.ft.lk/front-page/Sri-Lanka-s-growth-forecast-to-decelerate-to-3-5-this-year-WB/44-777627
*World Bank cuts 2025 growth forecasts for 70% of economies*
Heightened trade tensions and policy uncertainty are expected to drive global growth down this year to its slowest pace since 2008 outside of outright global recessions, according to the World Bank’s latest Global Economic Prospects report. The turmoil has resulted in growth forecasts being cut in nearly 70% of all economies—across all regions and income groups.
https://www.ft.lk/front-page/World-Bank-cuts-2025-growth-forecasts-for-70-of-economies/44-777628
*Electricity tariffs up 15% from today*
• Tariff increase follows a comprehensive review of CEB request for an 18.3% hike
• PUCSL emphasises that decision aligns with cost-reflective pricing methodology approved by law
• Revision comes ahead of IMF First Deputy Managing Director’s visit next week
• Electricity pricing reform has been a central condition under Sri Lanka’s ongoing programme with IMF
https://www.dailymirror.lk/business-main/Electricity-tariffs-up-15-from-today/245-311318
*Sri Lanka set to outperform fiscal target for third year*
• Strong Q1 primary surplus and rising vehicle import duties drive continued overperformance
• Revenue collection agencies already exceeding targets, signaling robust economic momentum
https://www.themorning.lk/articles/6NSMvlkiPGhPATjbqXOh
*Indian visitors lead SL’s tourist arrivals*
The latest figures released by the Sri Lanka Tourism Development Authority (SLTDA) indicate that the country continues to attract a large number of tourists from India. The number of tourists who arrived in the country in the first five days of June stood at 21,293, the SLTDA stated.
https://www.themorning.lk/articles/YzrcM1KQOP5FSJ7soNQD
*NAVIGATING GLOBAL TRADE SHIFTS: Sri Lanka exports for global success*
Sri Lanka has weathered a relentless succession of economic shocks in recent years. The turmoil began with the constitutional crisis in 2018, followed by the tragic Easter Sunday attacks in 2019.
https://www.themorning.lk/articles/UO7zFpdDS71H5xZqlmZ5
*Asia sees ‘concerning’ rise in long payment delays: Report*
Companies across the Asia-Pacific region - and especially those in China - are becoming more cautious about selling on credit, as a turbulent global economy leads to a “concerning” rise in long payment delays, a new report has found.
https://www.themorning.lk/articles/bjJXmglwRF6DXiUhW71c
*Trump Says Again He’ll Set Unilateral Tariffs in Two Weeks*
President Donald Trump said he intended to send letters to trading partners in the next one to two weeks setting unilateral tariff rates, ahead of a July 9 deadline to reimpose higher duties on dozens of economies.
*Hela Apparel divests two subsidiaries for Rs. 2.7 b as part of ongoing restructuring*
It said this forms part of a broader turnaround strategy focused on structural simplification and performance improvement, with the objective of positioning its operations for recovery in the coming financial year and enhancing long-term competitiveness.
*LOFC announces mega Rs. 21 b share buy-back offer*
The LOLC Finance PLC (LOFC) Board of Directors in order to optimise its shareholder value while maintaining the company’s financial stability, has resolved to repurchase 3,519,065,138 shares at Rs. 6 each in a deal worth Rs. 21.1 billion.
https://www.ft.lk/front-page/LOFC-announces-mega-Rs-21-b-share-buy-back-offer/44-777634
Wednesday
11th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Waiting Update
Tuesday
10th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Public & Bank Holiday
Markets Closed in Sri Lanka
Monday
9th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
EDB outlines trade potential and ethical manufacturing strengths
• EDB Chairman Mangala Wijesinghe stressed on resilient and principled export economy ready to deepen ties with Chinese market
• Says China is ranked as Sri Lanka’s 10th largest export destination with value at $ 251.9 m in 2024
• Asserts significant untapped potential in both traditional and emerging product categories
• Highlights readiness to expand export footprint in China through range of high potential products including Ceylon tea, coconut-based products, processed food, fish and fishery products, spices, organic products, fruits and poultry products
*Sarvodaya Development Finance to issue first-ever Sustainable Bonds to raise Rs. 2 b*
Sarvodaya Development Finance PLC is to issue Sri Lanka’s first-ever Sustainable Bonds to raise Rs. 2 billion. Its Board of Directors last week decided to issue up to 20 million Tier 2, rated, unsecured, subordinated, redeemable high-yield Sustainable Bonds at Rs. 100 each. The issue is subject to necessary regulatory approval.
*Sigiriya’s recognition as Lanka’s first sustainable tourism destination sets benchmark”*
Deputy Minister of Tourism Prof. Ruwan Ranasinghe said that Sigiriya’s recognition as Sri Lanka’s first sustainable tourism destination sets a benchmark for similar efforts across the country.
*Sri Lanka Tourism to launch Nation Branding Campaign*
Sri Lanka Tourism is set to launch its most awaited Nation Branding Campaign on June 26, 2025, in Colombo, bringing together key players from the public and private sectors to drive a unified vision for the country’s tourism sector.
*SL aims for 50% ECT completion by end 2025*
• Construction of ECT fast-tracked after significant delays due to corruption
• $ 585 m project set for 2026 completion to enhance Colombo Port’s capacity
https://www.themorning.lk/articles/XIcT2nulIN2M1aNxOLzm
*Remittances up 18% y-o-y*
Sri Lanka’s year-on-year (y-o-y) remittances for the first five months of the year exceeded $ 3 billion in the first five months, up by 18.2% from the same period last year ($ 2.62 billion), data from the Central Bank of Sri Lanka (CBSL) shows.
https://www.themorning.lk/articles/XPdY4UJxVIP5i8UX06v3
*$ 530 m in vehicle import LCs opened*
• Govt. confirms no restrictions on vehicle types following import ban lift
• Vehicle imports align with State targets despite concerns over high prices
• IMF agreement rules out any tax cuts on vehicles for 2025
https://www.themorning.lk/articles/2Zh5KicUhzl4WhyAdlZg
*IPO momentum builds as CSE eyes derivatives market entry*
• 5-6 IPOs lined up as market hits record highs
• Foreign investor inflows remain subdued despite local rally
• CSE and India’s NCDEX shortlisted to launch SL’s first derivatives exchange
• New exchange will not be based in Port City: CSE chief
https://www.themorning.lk/articles/EoFY4OJSNhhOCYTHD1cU
*India and Sri Lanka eye dual listing to build ‘financial bridge’ between capital markets*
• Move would allow Sri Lankan firms to raise USD capital via India’s GIFT City for global expansion
• Initiative designed as a two-way partnership, with Sri Lanka also inviting Indian companies to list on the CSE
*Tourism earnings climb to US$ 1.54bn in first five months*
May tourism earnings up by 6.5% YoY to US$ 164.1mn
*Sri Lanka repays foreign debt in budget to April 2025, current spending picks up*
ECONOMYNEXT – Foreign financing of Sri Lanka’s budget was negative up to April 2025 by 27.9 billion rupees, up from 7.4 billion last year, official data shows indicating that foreign debt was being repaid on a net basis again.
*Sri Lanka’s Elephant House drinks distribution begins in India*
ECONOMYNEXT – Distribution of Elephant House beverages in India has started, under a partnership struck with Reliance Retail Ventures Limited, Ceylon Cold Stores, a unit of Sri Lanka’s John Keells Holdings said.
https://economynext.com/sri-lankas-elephant-house-drinks-distribution-begins-in-india-224527/
Friday
6th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Sugar importers warn against tax hike, say consumers will pay the price
Sugar importers have urged President Anura Kumara Dissanayake not to raise the current Rs. 50/kg import tax, warning it would inflate prices, benefit large stockholders unfairly, harm small importers, and disrupt the market, as local sugar covers only 10% of demand and is unsuitable for industrial use.
SLBFE faces CoPE scrutiny over Rs. 1 b in unauthorised spending, financial mismanagement
• CoPE uncovers SLBFE spending over Rs. 1.3 b on unapproved programs in 2024, bypassing Cabinet approval
• ‘Glocal Fair’ alone costs Rs. 1.259 b, far exceeding usual Rs. 2 m outreach allocation
• Trade stall procurement costs jump from Rs. 170,000 to Rs. 500,000 without clear explanation
• CoPE Chief accuses SLBFE of wasting funds on non-strategic, unplanned activities
• ‘Rataviruwo’ housing loan scheme fails; Rs. 100 m remains unpaid, with no beneficiary data
• Urges better use of SLBFE’s Rs. 18 b in fixed deposits
• Kuwait Compensation Fund worth Rs. 5.1 b remains underutilised; plans made for training and pensions
• Fraud surfaces in migrant worker registration, with agencies falsely claiming fee refunds
• Sub-committee to probe financial fraud by employment agencies
DFCC Bank acts as Lead Arranger in $ 100 m loan for India’s Satin Creditcare
DFCC Bank PLC has joined as a Lead Arranger in a $100 million syndicated social loan for India’s Satin Creditcare Network Ltd., supporting financial inclusion and women’s empowerment through collateral-free microloans in rural and semi-urban areas.
Salt Production: May take 3-4 months to normalise
Sri Lanka's salt production has dropped over 35% due to prolonged rains, but the Ministry of Trade assures no shortage as daily salt imports fill the gap, with normal production expected to resume in 3–4 months depending on weather conditions.
https://www.themorning.lk/articles/jniYXCKKekdPmgDOm1Ug
Sri Lanka spends Rs. 1.5 t on debt
• Over 20% of annual borrowing limit utilised for principal and interest payments by April
• Domestic debt service accounts for a large portion; GDP projection for 2025 revised down
https://www.themorning.lk/articles/G04xkM1FzDRMDdDOjftl
Oil prices slip on a Saudi price cut and a US inventory build
Crude oil prices fell as traders reacted to rising U.S. fuel inventories, Saudi Arabia's price cuts to near four-year lows, and OPEC+ plans to boost output, despite ongoing expectations of a supply surplus that has yet to materialize.
https://www.themorning.lk/articles/iHD1yj6jbns77woWSUAj
Korean Ambassador explores investment opportunities at H’tota International Port
Korean Ambassador Miyon Lee visited Hambantota International Port in May to assess its operations and discuss potential investment opportunities, with HIP promoting the port as a strategic hub for Korean trade and manufacturing.
Ceylon Chamber hosts EU Delegation
The Ceylon Chamber of Commerce hosted Poland’s Foreign Minister Radosław Sikorski and an EU delegation to strengthen EU-Sri Lanka trade and investment ties, focusing on key sectors like apparel, tourism, IT, and energy, while highlighting the private sector's role in sustainable economic collaboration.
https://www.dailynews.lk/2025/06/06/business/791434/ceylon-chamber-hosts-eu-delegation/
LOLC Group posts Rs. 41 b net profit; assets top Rs. 2 t mark
LOLC Holdings PLC reported a record after-tax profit of Rs. 41 billion for FY 2024/25—an 89% increase—driven by strong financial services performance, strategic global acquisitions, and expanding presence across over 25 countries and multiple sectors.
https://www.ft.lk/top-story/LOLC-Group-posts-Rs-41-b-net-profit-assets-top-Rs-2-t-mark/26-777362
United Motor Lanka returns to profitability after years of losses
United Motors Lanka PLC returned to profitability in FY2024/25 with a Rs. 73 million profit, driven by the lifting of Sri Lanka’s vehicle import ban, strong performance from its Dutch Lanka Trailers acquisition, and strategic shifts including local assembly, diversification, and plans to introduce electric vehicles.
https://www.themorning.lk/articles/60AEi9fJ1oXp5X3Ik2o6
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/
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/
Friday
13th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Friday
13th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Govt. and CBSL announce fresh relief for bank-linked SMEs amid recovery push
• CBSL issues directive on 9 June instructing banks to extend concessions to eligible SME borrowers
• Relief includes interest concessions, fresh lending and extended rescheduling deadlines
• SMEs who engaged banks for revival talks by 31 March eligible for support
• Deadline to finalise rescheduling agreements extended to 30 June
*COPA calls for audit on daily financial losses from train cancellations*
The Committee on Public Accounts has recommended an audit on the daily financial losses from train cancellations and called for a report on train delays, following concerns over reduced efficiency and inadequate management meetings at Sri Lanka Railways.
*IRD’s new risk-based VAT system promises refunds in 15 days*
• The statutory maximum for issuing refunds is set at 45 days, however, the department’s internal target for compliant taxpayers is much faster
• IRD Commissioner stressed the objective is to provide you with an even better system in its place
*Motor vehicle imports generate Rs. 149 b in taxes*
Sri Lanka Customs released nearly 50,000 motor vehicles between December 2024 and June 2025, generating Rs. 149.1 billion in tax revenue, reflecting strong progress toward the government's annual revenue targets following the lifting of the vehicle import ban.
https://www.themorning.lk/articles/BJhch1CBFyHZgqZaSRDQ
*Growth to slow to 3.5% amid crisis impact*
The World Bank projects Sri Lanka's economic growth to slow to 3.5% in 2025 due to lingering crisis impacts, structural challenges, and global uncertainties, warning that sustained recovery will hinge on reforms, debt management, and resilience to external shocks.
https://www.themorning.lk/articles/HQUygWH1Vrt36o9Ugptj
*BOND SCAM CASE: Financial Intelligence Unit ordered to appear in court*
The Colombo Magistrate's Court has ordered the Central Bank's Financial Intelligence Unit to appear on 11 December to explain its failure to submit account reports in the ongoing bond scam investigation involving Arjun Aloysius, Arjuna Mahendran, and others.
https://www.themorning.lk/articles/R8RbLmEqVXCDfv5QCNT9
*Ceylon Chamber welcomes ALSM inauguration*
The Association of Local Stationery Manufacturers (ALSM) was officially launched to unify Sri Lanka's stationery industry, aiming to promote collaboration, influence policy, and boost export potential while supporting national education and sustainable practices.
https://www.themorning.lk/articles/sWGWgmeRdU4Sx9EnmXbu
*Plans to utilize accreditation process well to boost export sector*
Trade Minister Wasantha Samarasighe emphasized that strengthening Sri Lanka's accreditation process through SLAB will boost exports, enhance global market access, and empower SMEs by ensuring product quality and international recognition.
*LOLC AL-Falaah Wadi’ah Gold Storage Facility hits Rs. 3 Bn milestone*
LOLC Al-Falaah has become the first NBFI in Sri Lanka to launch the ethical Wadi’ah Gold Storage Facility, surpassing a Rs. 3 billion portfolio by offering transparent, Sharia-compliant gold-backed cash advances that promote financial inclusion and trust among underserved communities.
*Vidullanka breaks new ground with Sri Lanka’s first-ever listed Sukuk*
• Initiative marks milestone in ethical investing and capital market diversification
• Sukuk issuance approved by CSE and SEC, raising Rs. 500 m with subscriptions opening 17 June
• Vidullanka CEO Riyaz Sangani says it offers fixed and floating return options, with investors becoming partial owners of mini hydropower plant under Shariah-compliant lease structure
• Developed with input from regulatory bodies and international Shariah scholars, backed by Fitch A+(lka) rating and led by NDB Investment Bank and Adl Capital
• Move will catalyze growth in Sri Lanka’s Islamic capital markets, provide new funding model for corporates
Wednesday
12th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
Treasury Secretary outlines 2026 Budgets’ six-pronged growth vision
• Dr. Harshana Suriyapperuma says Govt. targets 7% GDP rise via stability, transparency and digitisation at Daily FT-University of Colombo MBA Alumni Association post-Budget forum
Standard Chartered CEO hails ‘doable’ Budget 2026
• Bingumal Thewarathanthri says outlook ‘cautiously optimistic’ amid fiscal constraints and reform momentum
https://www.ft.lk/front-page/Standard-Chartered-CEO-hails-doable-Budget-2026/44-784234
Challenging revenue targets for 2026 amid rigid spending and weak welfare coverage: Economist
• Dr. Roshan Perera urges continued fiscal discipline beyond IMF program
Fitch gives positive signal about Sri Lanka’s 2026 Budget
• With $ 347 m IMF tranche on hold, Fitch gives positive message about 2026 Budget
• Says Govt. demonstrates continued commitment to fiscal consolidation, reducing debt/GDP over medium term
• Fiscal deficit seen widening to 5.1% of GDP; primary surplus easing to 2.5%
• Medium term risks remain; warns revenue slowdown, underspending on investment could test fiscal goals
• High debt levels and post-2027 repayments remain key credit vulnerabilities
https://www.ft.lk/front-page/Fitch-gives-positive-signal-about-Sri-Lanka-s-2026-Budget/44-784231
DFCC Bank sustains growth momentum in 3Q
• Posts Rs. 8.5 b core business PAT at Group level
• Bank achieves PAT of Rs. 13.3 b including disposal gain from Acuity Partners
• Group total assets up 20% to Rs. 853 b
https://www.ft.lk/front-page/DFCC-Bank-sustains-growth-momentum-in-3Q/44-784230
LOLC Finance reports Rs. 14 b 1H PAT
• Profit After Tax up sharply by 72%
• Gross lending portfolio increases 18% to Rs. 360 b
https://www.ft.lk/front-page/LOLC-Finance-reports-Rs-14-b-1H-PAT/44-784229
JKCG updates customers on detained BYD vehicles
John Keells CG Auto (JKCG) yesterday issued a statement updating its customers and stakeholders on the ongoing proceedings before the Court of Appeal regarding the detention of certain consignments of BYD vehicles by Sri Lanka Customs.
https://www.ft.lk/front-page/JKCG-updates-customers-on-detained-BYD-vehicles/44-784228
Gold prices increase by Rs. 8,000
Sri Lanka’s gold prices once again rose by Rs. 8,000 yesterday (11), following a significant increase in the price of gold in the world market.
https://www.themorning.lk/articles/JSpipg6YXO8rZG7sZhI8
Textile and apparel industry: CESS and duty revisions welcomed
The Sri Lankan Government’s consideration of providing CESS and duty revisions in its 2026 Budget provisions has been welcomed by the Sri Lanka Apparel Brands Association (SLABA), a statement released by the association said.
https://www.themorning.lk/articles/AlpF5zu9p1wS9ETjhgqe
Tax experts say lower VAT threshold could strain market
The reduction of Sri Lanka’s Value Added Tax (VAT) and Social Security Contribution Levy registration thresholds from Rs.60 million to Rs.36 million per year is expected to have a significant impact on the market next year, according to KPMG Sri Lanka Head of Tax and Regulatory Suresh Perera.
Global
Oil prices little changed as markets eye US government reopening
BEIJING, Nov 12 (Reuters) - Oil prices were little changed on Wednesday after rising in the previous session amid expectations that an end to the longest-ever U.S. government shutdown could boost demand in the world's biggest crude consuming nation.
US House returns to Washington for vote to end government shutdown
• House vote could end longest U.S. government shutdown
• Deal divides Democrats over healthcare subsidies extension
• SNAP food aid program would be secured until September 2026
Tuesday
11th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
Sri Lanka needs to move away from public underinvestment, says Deloitte SL and Maldives
Sri Lanka needs to overcome the issue of underspending that has taken place in the recent past, as it is looking at a very ambitious programme of capital expenditure for next year, said Deloitte Sri Lanka and Maldives Head of Risk and Transactions Strategy Ruvini Fernando, at a recent post-budget discussion. Over the past few years, the country has not allocated enough funds for important areas that would drive growth, such as health, education and public infrastructure and investments in these sectors have been below its peer countries, Fernando noted.
Hong Kong’s SiS Int’l invests in controlling stake in Gestetner of Ceylon
SiS International Holdings Limited recently invested in a controlling interest in Gestetner of Ceylon PLC, a leading player in the office automation sector in Sri Lanka, through World Elite Limited, one of its Hong Kong-based subsidiaries. Founded in Singapore in 1983 and started as a distributor of IT products, SiS International Holdings Limited has been listed on the Hong Kong Stock Exchange since 1992. Today, it has grown to become a dynamic leading distribution company with the largest network across five countries in Asia Pacific.
Remittances hit all-time high of US $ 712mn in October
Sri Lanka received its highest ever monthly income of US $ 712.0 million from the workers’ remittances in October, signalling that the country is in for a bumper year of income from the Sri Lankans working abroad. The October remittance income is higher than both what the country earned in the same period last year (US $ 587.7 million) and US $ 695.7 million earned in September 2025
September private credit hits Rs.236bn; highest on record
The licensed commercial banks extended a mammoth Rs.236.3 billion in new credit to the private sector in September 2025, marking a substantial 22.1 percent growth from a year earlier. The figure reflects the credit demand reaching record highs amid the rock-bottom interest rates and a rapidly expanding economy.
ADB extends US $ 100mn support to deepen fiscal reforms, transparency in SL
The Asian Development Bank (ADB) has approved a US $ 100 million financing package to strengthen Sri Lanka’s macroeconomic resilience and reinforce its reform momentum as the country continues its recovery from the 2022 economic crisis. The support comes at a critical juncture when the government is striving to sustain fiscal stability while pushing ahead with governance and structural reforms to create a more predictable and transparent investment climate.
Tourism starts November with 13% growth
Annual target under pressure
• SL welcomes nearly 62,000 visitors in first 9 days of November
• Industry is currently tracking slightly ahead of ‘Lower Scenario’ monthly target of 203,259
• Russia bounces back to second top source market
• On a cumulative basis, Sri Lanka has welcomed 1,952,577 tourists
Sri Lanka’s tourism industry has recorded a solid start to the winter season, welcoming 61,890 visitors during the first nine days of November 2025. This represents a 13.2 percent year-on-year growth compared to the approximately 54,686 tourists that arrived during the same period in 2024.
https://www.dailymirror.lk/business-main/Tourism-starts-November-with-13-growth/245-324620
Budget 2026 paves way for overall development
The 2026 budget will pave the way for overall development of economic, social and other sectors since the budget includes proposals aimed at establishing fiscal discipline in the country and putting the country on a development path, President of the Association of Economists of Sri Lanka Prof. Vijithapure Wimalarathana Thera said.
https://dailynews.lk/2025/11/11/business/892071/budget-2026-paves-way-for-overall-development/
Janashakthi Life soars Q3 with 249% surge in profits and 72% growth in new business premiums
Janashakthi Life, the flagship brand of JXG (Janashakthi Group) closed Q3 2025 solidifying its performance and growth momentum as one of Sri Lanka’s fastest-growing life insurers. The Company recorded a 72% year-on-year increase in regular new business, reaching LKR 1.227 billion. This growth was driven by an enhanced focus on customer acquisition, customer retention, product diversification and an expanding distribution network. Janashakthi Life also achieved a commendable 249% increase in net profit, amounting to LKR 2.793 billion as at the end of September 2025, compared to LKR 800 million in the same period last year. Total assets grew to LKR 41.508 billion, underscoring the company’s strong financial foundation and prudent capital management.
People’s Leasing opens 111th Branch in Eheliyagoda
People’s Leasing & Finance PLC (PLC), a leading non-bank financial institution and a subsidiary of People’s Bank in Sri Lanka, expanded its branch network, opening its 111th branch on November 4, at Kelin Veediya, Eheliyagoda.
https://dailynews.lk/2025/11/11/business/891925/peoples-leasing-opens-111th-branch-in-eheliyagoda/
Associated Motorways opens showroom in Matara
Associated Motorways (Private) Limited (AMW), a trusted name in Sri Lanka’s automotive industry, marked another milestone with the opening of its showroom in Matara. The opening ceremony took place on November 4, at Anagarika Dharmapala Mawatha, Walgama, Matara.
https://dailynews.lk/2025/11/11/business/891931/associated-motorways-opens-showroom-in-matara/
Global
Possible US shutdown end brings investor relief, fresh data focus
With an end to the U.S. government shutdown potentially on the horizon, investors who feared more economic fallout breathed easier and turned to an expected flood of delayed data to shed more light on growth and the likely path for interest rates.
Trump says US faces 'economic disaster' if Supreme Court rules against tariffs
U.S. President Donald Trump said on Monday the United States faced an economic and national security disaster if the Supreme Court ruled against his use of an emergency powers law to impose sweeping tariffs against nearly every country.
Monday
10th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
Local
US firm AMG takes over Bogala Graphite’s owning company of German origin
AMG Critical Materials N.V. (AMG) and Asbury Carbons Inc. (Asbury Carbons) have announced the signing of a definitive agreement for AMG to sell Graphit Kropfmühl GmbH (GK) to Asbury Carbons, a portfolio company of Mill Rock Capital.
Ceylon Chamber says Budget 2026 reinforces policy stability, calls for faster reforms to achieve growth
• Seeks clarification on Economic Transformation Act and reforms to key investment institutions
• Suggests reform progress tied to B-Ready Index
• Urges fast-tracking legislation related to SOE and PPP reforms to deliver the growth dividends expected from structural measures
MSME Federation criticises Budget 2026 over VAT threshold reduction, lack of support
• Ceylon Federation of MSME President Mahendra Perera stresses many MSMEs continue to face liquidity challenges
• Plans to highlight concerns to authorities to establish practical mechanism that enables genuinely affected MSMEs
• Warns VAT threshold cut to Rs. 36 m from April 2026 will drag more small retailers into tax net
• Says 18% VAT burden will ultimately fall on consumers, worsening cost-of-living pressures
Colombo Port City can be Sri Lanka’s ‘single catalyst of growth,’ says Harsha Amarasekera
• Notes Port City Colombo can connect Sri Lanka to global service industries—fund management, fintech, arbitration and e-commerce
• Suggests Sri Lanka could position itself as a low-cost regional arbitration hub, attracting cases from India, Bangladesh and Pakistan and potentially hosting a branch of the Singapore International Arbitration Centre
• Clarifies Port City’s original incentive scheme remains intact and competitive, developed in collaboration with Finance Ministry, contrary to misconceptions of change
• Insists focus should shift from expanding tax incentives to simplifying investor entry, including streamlined visas, expatriate employment rules and EPF/ETF compliance for short-term foreign staff
• Asserts regulatory clarity on global income declarations and faster IP and trademark registration processes vital to build investor confidence
• States Commission aims to enact key legislative amendments soon under 2026 Budget to clear pending applications and improve framework in phases
Govt. slashes tax holidays for SDPs, improves disclosure
• Issues Gazette trimming tax holidays from 25 years to 10
• BOI to identify projects subject to Finance Ministry cost-benefit review
• Mandatory tax filing, disclosure of project outcomes, and ex-post monitoring introduced
• Finance Ministry to publish annual exemptions/tax expenditure reports on all SDPs
https://www.ft.lk/top-story/Govt-slashes-tax-holidays-for-SDPs-improves-disclosure/26-784132
Harsha slams 2026 Budget, decries Rs. 1 t deception
SJB MP points to Rs. 1 t deception; says Treasury overflowing while poor taxed more
• Says Budget 2026 built on broken promises, false narratives
• Labels housing, loan plans for State workers “a joke”
• Warns of new property tax and record Rs. 3.8 t borrowing
• Accuses Govt. of failing youth, SMEs and elderly
https://www.ft.lk/business/Harsha-slams-2026-Budget-decries-Rs-1-t-deception/34-784123
ADB approves $100 Mn to strengthen financial stability in Sri Lanka
The Asian Development Bank (ADB) has approved a $100 million loan to address complex and challenging structural reforms in Sri Lanka’s financial sector through better governance, continued policy reforms, and enhanced financial inclusion.
Servicing outpaces new loans: Govt. debt sees $ 1 b net increase
Sri Lanka’s outstanding central government debt has a mere net increase of $1 billion during the first nine months of this year, as debt servicing exceeded disbursements, the Finance Ministry said in a published report.
https://www.themorning.lk/articles/lpsABrb7ieAjq69KGNVn
Probe into illegal vehicle imports widens
• Investigations reveal several brands detained beyond EV models imported into SL
• Customs Spokesman confirms issues in other brands including Raize, Nissan X-Trail
• Cites discrepancies in declared engine capacities, import documentation
• Action against importers to follow completion of inquiries and pending court rulings
https://www.themorning.lk/articles/2JhdZAwj9QwPb5WI4YYt
Hemas posts 37% jump in quarterly profit on strong consumer demand, lower finance costs
Hemas Holdings PLC delivered another quarter of resilient performance in the three months ended September 2025, posting a 36.6 percent year-on-year (YoY) surge in earnings to Rs.2.1 billion.
Galadari Hotels to pump US $ 48.5mn into Colombo property upgrade
Galadari Hotels (Lanka) PLC is set to significantly boost its investment in refurbishing the landmark Galadari Hotel in Colombo, increasing the planned spend from US $ 33.5 million to US $ 48.5 million.
Losing millions in silence: Why Sri Lanka must lift palm oil ban now
The Planters’ Association of Ceylon (PA) is urging the government to act swiftly to lift the ban on oil palm cultivation, warning that with each passing day, the losses to the nation keep growing.
Global
US Senate on verge of advancing bill to end federal shutdown
• Senate bill would fund government through January 2026
• Bill would be amended to include three appropriations measures
• Democrats had resisted funding measure without healthcare fixes
• Trump pushes for direct payments over ACA subsidies
Before talks with Trump, Saudi Arabia doubles down on terms for Israel ties
o Saudi Crown Prince will meet Trump on November 18
o They are set to seal a defense pact at White House talks
o Trump wants Saudi Arabia to normalise ties with Israel
• Riyadh says that depends on roadmap to Palestinian state
Friday
7th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
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/
Thursday
6th November 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
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
Friday
31st October 2025
News Alert
Daily Financial News in Sri Lanka by Stockmarket.lk
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
Thursday
30th October 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
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/
Tuesday
28th October 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
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/
Monday
16th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Israel says it has launched strikes on Iran’s nuclear sites as blasts heard across country
• Israel has carried out strikes on Iran’s nuclear programme, the IDF has said, with blasts heard in Tehran
• The strikes were part of Operation Rising Lion, Israel’s PM Benjamin Netanyahu said, adding Iran was a threat to “Israel’s very survival”
• Israel has declared a state of emergency, saying the country expected retaliation
• In Jerusalem, residents were woken by sirens followed by a phone alert
• The strikes targeted “Iran’s nuclear programme and other military targets”, an Israeli official has said
https://www.bbc.com/news/live/c93ydeqyq71t?utm_campaign=WhatsApp+June+2&utm_medium=bitly&utm_source=WhatsApp2025
*Judge temporarily bars Trump from deploying National Guard troops in Los Angeles*
• Judge orders National Guard back to California control
• Trump administration appeals judge’s order barring National Guard deployment
• Protests mostly peaceful, but Trump says city would be in flames without troops
https://www.reuters.com/world/us/marines-prepare-los-angeles-deployment-protests-spread-across-us-2025-06-12/
*US Deploying FAA, NTSB Team to Assist in Air India Crash Probe*
• Air India confirms 241 of 242 passengers and crew on board have died
• London-bound flight AI171 crashed shortly after takeoff from Ahmedabad
• US is deploying investigators to assist with the probe
• Crash marks first complete loss of a Boeing 787 Dreamliner
• Boeing shares have biggest drop in two months
https://www.bloomberg.com/news/live-blog/2025-06-12/air-india-crash-live-updates?utm_source=whatsapp&utm_medium=social&utm_content=business
Friday
13th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Govt. and CBSL announce fresh relief for bank-linked SMEs amid recovery push
• CBSL issues directive on 9 June instructing banks to extend concessions to eligible SME borrowers
• Relief includes interest concessions, fresh lending and extended rescheduling deadlines
• SMEs who engaged banks for revival talks by 31 March eligible for support
• Deadline to finalise rescheduling agreements extended to 30 June
*COPA calls for audit on daily financial losses from train cancellations*
The Committee on Public Accounts has recommended an audit on the daily financial losses from train cancellations and called for a report on train delays, following concerns over reduced efficiency and inadequate management meetings at Sri Lanka Railways.
*IRD’s new risk-based VAT system promises refunds in 15 days*
• The statutory maximum for issuing refunds is set at 45 days, however, the department’s internal target for compliant taxpayers is much faster
• IRD Commissioner stressed the objective is to provide you with an even better system in its place
*Motor vehicle imports generate Rs. 149 b in taxes*
Sri Lanka Customs released nearly 50,000 motor vehicles between December 2024 and June 2025, generating Rs. 149.1 billion in tax revenue, reflecting strong progress toward the government's annual revenue targets following the lifting of the vehicle import ban.
https://www.themorning.lk/articles/BJhch1CBFyHZgqZaSRDQ
*Growth to slow to 3.5% amid crisis impact*
The World Bank projects Sri Lanka's economic growth to slow to 3.5% in 2025 due to lingering crisis impacts, structural challenges, and global uncertainties, warning that sustained recovery will hinge on reforms, debt management, and resilience to external shocks.
https://www.themorning.lk/articles/HQUygWH1Vrt36o9Ugptj
*BOND SCAM CASE: Financial Intelligence Unit ordered to appear in court*
The Colombo Magistrate's Court has ordered the Central Bank's Financial Intelligence Unit to appear on 11 December to explain its failure to submit account reports in the ongoing bond scam investigation involving Arjun Aloysius, Arjuna Mahendran, and others.
https://www.themorning.lk/articles/R8RbLmEqVXCDfv5QCNT9
*Ceylon Chamber welcomes ALSM inauguration*
The Association of Local Stationery Manufacturers (ALSM) was officially launched to unify Sri Lanka's stationery industry, aiming to promote collaboration, influence policy, and boost export potential while supporting national education and sustainable practices.
https://www.themorning.lk/articles/sWGWgmeRdU4Sx9EnmXbu
*Plans to utilize accreditation process well to boost export sector*
Trade Minister Wasantha Samarasighe emphasized that strengthening Sri Lanka's accreditation process through SLAB will boost exports, enhance global market access, and empower SMEs by ensuring product quality and international recognition.
*LOLC AL-Falaah Wadi’ah Gold Storage Facility hits Rs. 3 Bn milestone*
LOLC Al-Falaah has become the first NBFI in Sri Lanka to launch the ethical Wadi’ah Gold Storage Facility, surpassing a Rs. 3 billion portfolio by offering transparent, Sharia-compliant gold-backed cash advances that promote financial inclusion and trust among underserved communities.
*Vidullanka breaks new ground with Sri Lanka’s first-ever listed Sukuk*
• Initiative marks milestone in ethical investing and capital market diversification
• Sukuk issuance approved by CSE and SEC, raising Rs. 500 m with subscriptions opening 17 June
• Vidullanka CEO Riyaz Sangani says it offers fixed and floating return options, with investors becoming partial owners of mini hydropower plant under Shariah-compliant lease structure
• Developed with input from regulatory bodies and international Shariah scholars, backed by Fitch A+(lka) rating and led by NDB Investment Bank and Adl Capital
• Move will catalyze growth in Sri Lanka’s Islamic capital markets, provide new funding model for corporates
Thursday
12th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
President meets German counterpart in Berlin
President Anura Kumara Disanayake, who is currently on an official visit to the Federal Republic of Germany, was warmly received yesterday by German President Frank-Walter Steinmeier.
https://www.ft.lk/front-page/President-meets-German-counterpart-in-Berlin/44-777633
*Cabinet approves resumption of land acquisition for Central Expressway Phase IV*
• Compensation to be paid for previously acquired plots; new acquisitions proceed under Land Acquisition Act
• Phase IV stands at 73.2% completion; project aims to boost national connectivity
• Completion to improve access to Northern, North Central, Eastern and Central provinces
*Sri Lanka’s growth forecast to decelerate to 3.5% this year: WB*
The World Bank (WB) yesterday revealed that growth in Sri Lanka is forecast to decelerate to 3.5% this year, reflecting the scarring effects of the crisis, structural impediments to growth, and heightened global economic uncertainties.
https://www.ft.lk/front-page/Sri-Lanka-s-growth-forecast-to-decelerate-to-3-5-this-year-WB/44-777627
*World Bank cuts 2025 growth forecasts for 70% of economies*
Heightened trade tensions and policy uncertainty are expected to drive global growth down this year to its slowest pace since 2008 outside of outright global recessions, according to the World Bank’s latest Global Economic Prospects report. The turmoil has resulted in growth forecasts being cut in nearly 70% of all economies—across all regions and income groups.
https://www.ft.lk/front-page/World-Bank-cuts-2025-growth-forecasts-for-70-of-economies/44-777628
*Electricity tariffs up 15% from today*
• Tariff increase follows a comprehensive review of CEB request for an 18.3% hike
• PUCSL emphasises that decision aligns with cost-reflective pricing methodology approved by law
• Revision comes ahead of IMF First Deputy Managing Director’s visit next week
• Electricity pricing reform has been a central condition under Sri Lanka’s ongoing programme with IMF
https://www.dailymirror.lk/business-main/Electricity-tariffs-up-15-from-today/245-311318
*Sri Lanka set to outperform fiscal target for third year*
• Strong Q1 primary surplus and rising vehicle import duties drive continued overperformance
• Revenue collection agencies already exceeding targets, signaling robust economic momentum
https://www.themorning.lk/articles/6NSMvlkiPGhPATjbqXOh
*Indian visitors lead SL’s tourist arrivals*
The latest figures released by the Sri Lanka Tourism Development Authority (SLTDA) indicate that the country continues to attract a large number of tourists from India. The number of tourists who arrived in the country in the first five days of June stood at 21,293, the SLTDA stated.
https://www.themorning.lk/articles/YzrcM1KQOP5FSJ7soNQD
*NAVIGATING GLOBAL TRADE SHIFTS: Sri Lanka exports for global success*
Sri Lanka has weathered a relentless succession of economic shocks in recent years. The turmoil began with the constitutional crisis in 2018, followed by the tragic Easter Sunday attacks in 2019.
https://www.themorning.lk/articles/UO7zFpdDS71H5xZqlmZ5
*Asia sees ‘concerning’ rise in long payment delays: Report*
Companies across the Asia-Pacific region - and especially those in China - are becoming more cautious about selling on credit, as a turbulent global economy leads to a “concerning” rise in long payment delays, a new report has found.
https://www.themorning.lk/articles/bjJXmglwRF6DXiUhW71c
*Trump Says Again He’ll Set Unilateral Tariffs in Two Weeks*
President Donald Trump said he intended to send letters to trading partners in the next one to two weeks setting unilateral tariff rates, ahead of a July 9 deadline to reimpose higher duties on dozens of economies.
*Hela Apparel divests two subsidiaries for Rs. 2.7 b as part of ongoing restructuring*
It said this forms part of a broader turnaround strategy focused on structural simplification and performance improvement, with the objective of positioning its operations for recovery in the coming financial year and enhancing long-term competitiveness.
*LOFC announces mega Rs. 21 b share buy-back offer*
The LOLC Finance PLC (LOFC) Board of Directors in order to optimise its shareholder value while maintaining the company’s financial stability, has resolved to repurchase 3,519,065,138 shares at Rs. 6 each in a deal worth Rs. 21.1 billion.
https://www.ft.lk/front-page/LOFC-announces-mega-Rs-21-b-share-buy-back-offer/44-777634
Wednesday
11th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Waiting Update
Tuesday
10th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Public & Bank Holiday
Markets Closed in Sri Lanka
Monday
9th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
EDB outlines trade potential and ethical manufacturing strengths
• EDB Chairman Mangala Wijesinghe stressed on resilient and principled export economy ready to deepen ties with Chinese market
• Says China is ranked as Sri Lanka’s 10th largest export destination with value at $ 251.9 m in 2024
• Asserts significant untapped potential in both traditional and emerging product categories
• Highlights readiness to expand export footprint in China through range of high potential products including Ceylon tea, coconut-based products, processed food, fish and fishery products, spices, organic products, fruits and poultry products
*Sarvodaya Development Finance to issue first-ever Sustainable Bonds to raise Rs. 2 b*
Sarvodaya Development Finance PLC is to issue Sri Lanka’s first-ever Sustainable Bonds to raise Rs. 2 billion. Its Board of Directors last week decided to issue up to 20 million Tier 2, rated, unsecured, subordinated, redeemable high-yield Sustainable Bonds at Rs. 100 each. The issue is subject to necessary regulatory approval.
*Sigiriya’s recognition as Lanka’s first sustainable tourism destination sets benchmark”*
Deputy Minister of Tourism Prof. Ruwan Ranasinghe said that Sigiriya’s recognition as Sri Lanka’s first sustainable tourism destination sets a benchmark for similar efforts across the country.
*Sri Lanka Tourism to launch Nation Branding Campaign*
Sri Lanka Tourism is set to launch its most awaited Nation Branding Campaign on June 26, 2025, in Colombo, bringing together key players from the public and private sectors to drive a unified vision for the country’s tourism sector.
*SL aims for 50% ECT completion by end 2025*
• Construction of ECT fast-tracked after significant delays due to corruption
• $ 585 m project set for 2026 completion to enhance Colombo Port’s capacity
https://www.themorning.lk/articles/XIcT2nulIN2M1aNxOLzm
*Remittances up 18% y-o-y*
Sri Lanka’s year-on-year (y-o-y) remittances for the first five months of the year exceeded $ 3 billion in the first five months, up by 18.2% from the same period last year ($ 2.62 billion), data from the Central Bank of Sri Lanka (CBSL) shows.
https://www.themorning.lk/articles/XPdY4UJxVIP5i8UX06v3
*$ 530 m in vehicle import LCs opened*
• Govt. confirms no restrictions on vehicle types following import ban lift
• Vehicle imports align with State targets despite concerns over high prices
• IMF agreement rules out any tax cuts on vehicles for 2025
https://www.themorning.lk/articles/2Zh5KicUhzl4WhyAdlZg
*IPO momentum builds as CSE eyes derivatives market entry*
• 5-6 IPOs lined up as market hits record highs
• Foreign investor inflows remain subdued despite local rally
• CSE and India’s NCDEX shortlisted to launch SL’s first derivatives exchange
• New exchange will not be based in Port City: CSE chief
https://www.themorning.lk/articles/EoFY4OJSNhhOCYTHD1cU
*India and Sri Lanka eye dual listing to build ‘financial bridge’ between capital markets*
• Move would allow Sri Lankan firms to raise USD capital via India’s GIFT City for global expansion
• Initiative designed as a two-way partnership, with Sri Lanka also inviting Indian companies to list on the CSE
*Tourism earnings climb to US$ 1.54bn in first five months*
May tourism earnings up by 6.5% YoY to US$ 164.1mn
*Sri Lanka repays foreign debt in budget to April 2025, current spending picks up*
ECONOMYNEXT – Foreign financing of Sri Lanka’s budget was negative up to April 2025 by 27.9 billion rupees, up from 7.4 billion last year, official data shows indicating that foreign debt was being repaid on a net basis again.
*Sri Lanka’s Elephant House drinks distribution begins in India*
ECONOMYNEXT – Distribution of Elephant House beverages in India has started, under a partnership struck with Reliance Retail Ventures Limited, Ceylon Cold Stores, a unit of Sri Lanka’s John Keells Holdings said.
https://economynext.com/sri-lankas-elephant-house-drinks-distribution-begins-in-india-224527/
Friday
6th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Sugar importers warn against tax hike, say consumers will pay the price
Sugar importers have urged President Anura Kumara Dissanayake not to raise the current Rs. 50/kg import tax, warning it would inflate prices, benefit large stockholders unfairly, harm small importers, and disrupt the market, as local sugar covers only 10% of demand and is unsuitable for industrial use.
SLBFE faces CoPE scrutiny over Rs. 1 b in unauthorised spending, financial mismanagement
• CoPE uncovers SLBFE spending over Rs. 1.3 b on unapproved programs in 2024, bypassing Cabinet approval
• ‘Glocal Fair’ alone costs Rs. 1.259 b, far exceeding usual Rs. 2 m outreach allocation
• Trade stall procurement costs jump from Rs. 170,000 to Rs. 500,000 without clear explanation
• CoPE Chief accuses SLBFE of wasting funds on non-strategic, unplanned activities
• ‘Rataviruwo’ housing loan scheme fails; Rs. 100 m remains unpaid, with no beneficiary data
• Urges better use of SLBFE’s Rs. 18 b in fixed deposits
• Kuwait Compensation Fund worth Rs. 5.1 b remains underutilised; plans made for training and pensions
• Fraud surfaces in migrant worker registration, with agencies falsely claiming fee refunds
• Sub-committee to probe financial fraud by employment agencies
DFCC Bank acts as Lead Arranger in $ 100 m loan for India’s Satin Creditcare
DFCC Bank PLC has joined as a Lead Arranger in a $100 million syndicated social loan for India’s Satin Creditcare Network Ltd., supporting financial inclusion and women’s empowerment through collateral-free microloans in rural and semi-urban areas.
Salt Production: May take 3-4 months to normalise
Sri Lanka's salt production has dropped over 35% due to prolonged rains, but the Ministry of Trade assures no shortage as daily salt imports fill the gap, with normal production expected to resume in 3–4 months depending on weather conditions.
https://www.themorning.lk/articles/jniYXCKKekdPmgDOm1Ug
Sri Lanka spends Rs. 1.5 t on debt
• Over 20% of annual borrowing limit utilised for principal and interest payments by April
• Domestic debt service accounts for a large portion; GDP projection for 2025 revised down
https://www.themorning.lk/articles/G04xkM1FzDRMDdDOjftl
Oil prices slip on a Saudi price cut and a US inventory build
Crude oil prices fell as traders reacted to rising U.S. fuel inventories, Saudi Arabia's price cuts to near four-year lows, and OPEC+ plans to boost output, despite ongoing expectations of a supply surplus that has yet to materialize.
https://www.themorning.lk/articles/iHD1yj6jbns77woWSUAj
Korean Ambassador explores investment opportunities at H’tota International Port
Korean Ambassador Miyon Lee visited Hambantota International Port in May to assess its operations and discuss potential investment opportunities, with HIP promoting the port as a strategic hub for Korean trade and manufacturing.
Ceylon Chamber hosts EU Delegation
The Ceylon Chamber of Commerce hosted Poland’s Foreign Minister Radosław Sikorski and an EU delegation to strengthen EU-Sri Lanka trade and investment ties, focusing on key sectors like apparel, tourism, IT, and energy, while highlighting the private sector's role in sustainable economic collaboration.
https://www.dailynews.lk/2025/06/06/business/791434/ceylon-chamber-hosts-eu-delegation/
LOLC Group posts Rs. 41 b net profit; assets top Rs. 2 t mark
LOLC Holdings PLC reported a record after-tax profit of Rs. 41 billion for FY 2024/25—an 89% increase—driven by strong financial services performance, strategic global acquisitions, and expanding presence across over 25 countries and multiple sectors.
https://www.ft.lk/top-story/LOLC-Group-posts-Rs-41-b-net-profit-assets-top-Rs-2-t-mark/26-777362
United Motor Lanka returns to profitability after years of losses
United Motors Lanka PLC returned to profitability in FY2024/25 with a Rs. 73 million profit, driven by the lifting of Sri Lanka’s vehicle import ban, strong performance from its Dutch Lanka Trailers acquisition, and strategic shifts including local assembly, diversification, and plans to introduce electric vehicles.
https://www.themorning.lk/articles/60AEi9fJ1oXp5X3Ik2o6
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/
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/
Friday
13th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Friday
13th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Govt. and CBSL announce fresh relief for bank-linked SMEs amid recovery push
• CBSL issues directive on 9 June instructing banks to extend concessions to eligible SME borrowers
• Relief includes interest concessions, fresh lending and extended rescheduling deadlines
• SMEs who engaged banks for revival talks by 31 March eligible for support
• Deadline to finalise rescheduling agreements extended to 30 June
*COPA calls for audit on daily financial losses from train cancellations*
The Committee on Public Accounts has recommended an audit on the daily financial losses from train cancellations and called for a report on train delays, following concerns over reduced efficiency and inadequate management meetings at Sri Lanka Railways.
*IRD’s new risk-based VAT system promises refunds in 15 days*
• The statutory maximum for issuing refunds is set at 45 days, however, the department’s internal target for compliant taxpayers is much faster
• IRD Commissioner stressed the objective is to provide you with an even better system in its place
*Motor vehicle imports generate Rs. 149 b in taxes*
Sri Lanka Customs released nearly 50,000 motor vehicles between December 2024 and June 2025, generating Rs. 149.1 billion in tax revenue, reflecting strong progress toward the government's annual revenue targets following the lifting of the vehicle import ban.
https://www.themorning.lk/articles/BJhch1CBFyHZgqZaSRDQ
*Growth to slow to 3.5% amid crisis impact*
The World Bank projects Sri Lanka's economic growth to slow to 3.5% in 2025 due to lingering crisis impacts, structural challenges, and global uncertainties, warning that sustained recovery will hinge on reforms, debt management, and resilience to external shocks.
https://www.themorning.lk/articles/HQUygWH1Vrt36o9Ugptj
*BOND SCAM CASE: Financial Intelligence Unit ordered to appear in court*
The Colombo Magistrate's Court has ordered the Central Bank's Financial Intelligence Unit to appear on 11 December to explain its failure to submit account reports in the ongoing bond scam investigation involving Arjun Aloysius, Arjuna Mahendran, and others.
https://www.themorning.lk/articles/R8RbLmEqVXCDfv5QCNT9
*Ceylon Chamber welcomes ALSM inauguration*
The Association of Local Stationery Manufacturers (ALSM) was officially launched to unify Sri Lanka's stationery industry, aiming to promote collaboration, influence policy, and boost export potential while supporting national education and sustainable practices.
https://www.themorning.lk/articles/sWGWgmeRdU4Sx9EnmXbu
*Plans to utilize accreditation process well to boost export sector*
Trade Minister Wasantha Samarasighe emphasized that strengthening Sri Lanka's accreditation process through SLAB will boost exports, enhance global market access, and empower SMEs by ensuring product quality and international recognition.
*LOLC AL-Falaah Wadi’ah Gold Storage Facility hits Rs. 3 Bn milestone*
LOLC Al-Falaah has become the first NBFI in Sri Lanka to launch the ethical Wadi’ah Gold Storage Facility, surpassing a Rs. 3 billion portfolio by offering transparent, Sharia-compliant gold-backed cash advances that promote financial inclusion and trust among underserved communities.
*Vidullanka breaks new ground with Sri Lanka’s first-ever listed Sukuk*
• Initiative marks milestone in ethical investing and capital market diversification
• Sukuk issuance approved by CSE and SEC, raising Rs. 500 m with subscriptions opening 17 June
• Vidullanka CEO Riyaz Sangani says it offers fixed and floating return options, with investors becoming partial owners of mini hydropower plant under Shariah-compliant lease structure
• Developed with input from regulatory bodies and international Shariah scholars, backed by Fitch A+(lka) rating and led by NDB Investment Bank and Adl Capital
• Move will catalyze growth in Sri Lanka’s Islamic capital markets, provide new funding model for corporates
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/
Monday
16th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Israel says it has launched strikes on Iran’s nuclear sites as blasts heard across country
• Israel has carried out strikes on Iran’s nuclear programme, the IDF has said, with blasts heard in Tehran
• The strikes were part of Operation Rising Lion, Israel’s PM Benjamin Netanyahu said, adding Iran was a threat to “Israel’s very survival”
• Israel has declared a state of emergency, saying the country expected retaliation
• In Jerusalem, residents were woken by sirens followed by a phone alert
• The strikes targeted “Iran’s nuclear programme and other military targets”, an Israeli official has said
https://www.bbc.com/news/live/c93ydeqyq71t?utm_campaign=WhatsApp+June+2&utm_medium=bitly&utm_source=WhatsApp2025
*Judge temporarily bars Trump from deploying National Guard troops in Los Angeles*
• Judge orders National Guard back to California control
• Trump administration appeals judge’s order barring National Guard deployment
• Protests mostly peaceful, but Trump says city would be in flames without troops
https://www.reuters.com/world/us/marines-prepare-los-angeles-deployment-protests-spread-across-us-2025-06-12/
*US Deploying FAA, NTSB Team to Assist in Air India Crash Probe*
• Air India confirms 241 of 242 passengers and crew on board have died
• London-bound flight AI171 crashed shortly after takeoff from Ahmedabad
• US is deploying investigators to assist with the probe
• Crash marks first complete loss of a Boeing 787 Dreamliner
• Boeing shares have biggest drop in two months
https://www.bloomberg.com/news/live-blog/2025-06-12/air-india-crash-live-updates?utm_source=whatsapp&utm_medium=social&utm_content=business
Friday
13th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Govt. and CBSL announce fresh relief for bank-linked SMEs amid recovery push
• CBSL issues directive on 9 June instructing banks to extend concessions to eligible SME borrowers
• Relief includes interest concessions, fresh lending and extended rescheduling deadlines
• SMEs who engaged banks for revival talks by 31 March eligible for support
• Deadline to finalise rescheduling agreements extended to 30 June
*COPA calls for audit on daily financial losses from train cancellations*
The Committee on Public Accounts has recommended an audit on the daily financial losses from train cancellations and called for a report on train delays, following concerns over reduced efficiency and inadequate management meetings at Sri Lanka Railways.
*IRD’s new risk-based VAT system promises refunds in 15 days*
• The statutory maximum for issuing refunds is set at 45 days, however, the department’s internal target for compliant taxpayers is much faster
• IRD Commissioner stressed the objective is to provide you with an even better system in its place
*Motor vehicle imports generate Rs. 149 b in taxes*
Sri Lanka Customs released nearly 50,000 motor vehicles between December 2024 and June 2025, generating Rs. 149.1 billion in tax revenue, reflecting strong progress toward the government's annual revenue targets following the lifting of the vehicle import ban.
https://www.themorning.lk/articles/BJhch1CBFyHZgqZaSRDQ
*Growth to slow to 3.5% amid crisis impact*
The World Bank projects Sri Lanka's economic growth to slow to 3.5% in 2025 due to lingering crisis impacts, structural challenges, and global uncertainties, warning that sustained recovery will hinge on reforms, debt management, and resilience to external shocks.
https://www.themorning.lk/articles/HQUygWH1Vrt36o9Ugptj
*BOND SCAM CASE: Financial Intelligence Unit ordered to appear in court*
The Colombo Magistrate's Court has ordered the Central Bank's Financial Intelligence Unit to appear on 11 December to explain its failure to submit account reports in the ongoing bond scam investigation involving Arjun Aloysius, Arjuna Mahendran, and others.
https://www.themorning.lk/articles/R8RbLmEqVXCDfv5QCNT9
*Ceylon Chamber welcomes ALSM inauguration*
The Association of Local Stationery Manufacturers (ALSM) was officially launched to unify Sri Lanka's stationery industry, aiming to promote collaboration, influence policy, and boost export potential while supporting national education and sustainable practices.
https://www.themorning.lk/articles/sWGWgmeRdU4Sx9EnmXbu
*Plans to utilize accreditation process well to boost export sector*
Trade Minister Wasantha Samarasighe emphasized that strengthening Sri Lanka's accreditation process through SLAB will boost exports, enhance global market access, and empower SMEs by ensuring product quality and international recognition.
*LOLC AL-Falaah Wadi’ah Gold Storage Facility hits Rs. 3 Bn milestone*
LOLC Al-Falaah has become the first NBFI in Sri Lanka to launch the ethical Wadi’ah Gold Storage Facility, surpassing a Rs. 3 billion portfolio by offering transparent, Sharia-compliant gold-backed cash advances that promote financial inclusion and trust among underserved communities.
*Vidullanka breaks new ground with Sri Lanka’s first-ever listed Sukuk*
• Initiative marks milestone in ethical investing and capital market diversification
• Sukuk issuance approved by CSE and SEC, raising Rs. 500 m with subscriptions opening 17 June
• Vidullanka CEO Riyaz Sangani says it offers fixed and floating return options, with investors becoming partial owners of mini hydropower plant under Shariah-compliant lease structure
• Developed with input from regulatory bodies and international Shariah scholars, backed by Fitch A+(lka) rating and led by NDB Investment Bank and Adl Capital
• Move will catalyze growth in Sri Lanka’s Islamic capital markets, provide new funding model for corporates
Thursday
12th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
President meets German counterpart in Berlin
President Anura Kumara Disanayake, who is currently on an official visit to the Federal Republic of Germany, was warmly received yesterday by German President Frank-Walter Steinmeier.
https://www.ft.lk/front-page/President-meets-German-counterpart-in-Berlin/44-777633
*Cabinet approves resumption of land acquisition for Central Expressway Phase IV*
• Compensation to be paid for previously acquired plots; new acquisitions proceed under Land Acquisition Act
• Phase IV stands at 73.2% completion; project aims to boost national connectivity
• Completion to improve access to Northern, North Central, Eastern and Central provinces
*Sri Lanka’s growth forecast to decelerate to 3.5% this year: WB*
The World Bank (WB) yesterday revealed that growth in Sri Lanka is forecast to decelerate to 3.5% this year, reflecting the scarring effects of the crisis, structural impediments to growth, and heightened global economic uncertainties.
https://www.ft.lk/front-page/Sri-Lanka-s-growth-forecast-to-decelerate-to-3-5-this-year-WB/44-777627
*World Bank cuts 2025 growth forecasts for 70% of economies*
Heightened trade tensions and policy uncertainty are expected to drive global growth down this year to its slowest pace since 2008 outside of outright global recessions, according to the World Bank’s latest Global Economic Prospects report. The turmoil has resulted in growth forecasts being cut in nearly 70% of all economies—across all regions and income groups.
https://www.ft.lk/front-page/World-Bank-cuts-2025-growth-forecasts-for-70-of-economies/44-777628
*Electricity tariffs up 15% from today*
• Tariff increase follows a comprehensive review of CEB request for an 18.3% hike
• PUCSL emphasises that decision aligns with cost-reflective pricing methodology approved by law
• Revision comes ahead of IMF First Deputy Managing Director’s visit next week
• Electricity pricing reform has been a central condition under Sri Lanka’s ongoing programme with IMF
https://www.dailymirror.lk/business-main/Electricity-tariffs-up-15-from-today/245-311318
*Sri Lanka set to outperform fiscal target for third year*
• Strong Q1 primary surplus and rising vehicle import duties drive continued overperformance
• Revenue collection agencies already exceeding targets, signaling robust economic momentum
https://www.themorning.lk/articles/6NSMvlkiPGhPATjbqXOh
*Indian visitors lead SL’s tourist arrivals*
The latest figures released by the Sri Lanka Tourism Development Authority (SLTDA) indicate that the country continues to attract a large number of tourists from India. The number of tourists who arrived in the country in the first five days of June stood at 21,293, the SLTDA stated.
https://www.themorning.lk/articles/YzrcM1KQOP5FSJ7soNQD
*NAVIGATING GLOBAL TRADE SHIFTS: Sri Lanka exports for global success*
Sri Lanka has weathered a relentless succession of economic shocks in recent years. The turmoil began with the constitutional crisis in 2018, followed by the tragic Easter Sunday attacks in 2019.
https://www.themorning.lk/articles/UO7zFpdDS71H5xZqlmZ5
*Asia sees ‘concerning’ rise in long payment delays: Report*
Companies across the Asia-Pacific region - and especially those in China - are becoming more cautious about selling on credit, as a turbulent global economy leads to a “concerning” rise in long payment delays, a new report has found.
https://www.themorning.lk/articles/bjJXmglwRF6DXiUhW71c
*Trump Says Again He’ll Set Unilateral Tariffs in Two Weeks*
President Donald Trump said he intended to send letters to trading partners in the next one to two weeks setting unilateral tariff rates, ahead of a July 9 deadline to reimpose higher duties on dozens of economies.
*Hela Apparel divests two subsidiaries for Rs. 2.7 b as part of ongoing restructuring*
It said this forms part of a broader turnaround strategy focused on structural simplification and performance improvement, with the objective of positioning its operations for recovery in the coming financial year and enhancing long-term competitiveness.
*LOFC announces mega Rs. 21 b share buy-back offer*
The LOLC Finance PLC (LOFC) Board of Directors in order to optimise its shareholder value while maintaining the company’s financial stability, has resolved to repurchase 3,519,065,138 shares at Rs. 6 each in a deal worth Rs. 21.1 billion.
https://www.ft.lk/front-page/LOFC-announces-mega-Rs-21-b-share-buy-back-offer/44-777634
Wednesday
11th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Waiting Update
Tuesday
10th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Public & Bank Holiday
Markets Closed in Sri Lanka
Monday
9th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
EDB outlines trade potential and ethical manufacturing strengths
• EDB Chairman Mangala Wijesinghe stressed on resilient and principled export economy ready to deepen ties with Chinese market
• Says China is ranked as Sri Lanka’s 10th largest export destination with value at $ 251.9 m in 2024
• Asserts significant untapped potential in both traditional and emerging product categories
• Highlights readiness to expand export footprint in China through range of high potential products including Ceylon tea, coconut-based products, processed food, fish and fishery products, spices, organic products, fruits and poultry products
*Sarvodaya Development Finance to issue first-ever Sustainable Bonds to raise Rs. 2 b*
Sarvodaya Development Finance PLC is to issue Sri Lanka’s first-ever Sustainable Bonds to raise Rs. 2 billion. Its Board of Directors last week decided to issue up to 20 million Tier 2, rated, unsecured, subordinated, redeemable high-yield Sustainable Bonds at Rs. 100 each. The issue is subject to necessary regulatory approval.
*Sigiriya’s recognition as Lanka’s first sustainable tourism destination sets benchmark”*
Deputy Minister of Tourism Prof. Ruwan Ranasinghe said that Sigiriya’s recognition as Sri Lanka’s first sustainable tourism destination sets a benchmark for similar efforts across the country.
*Sri Lanka Tourism to launch Nation Branding Campaign*
Sri Lanka Tourism is set to launch its most awaited Nation Branding Campaign on June 26, 2025, in Colombo, bringing together key players from the public and private sectors to drive a unified vision for the country’s tourism sector.
*SL aims for 50% ECT completion by end 2025*
• Construction of ECT fast-tracked after significant delays due to corruption
• $ 585 m project set for 2026 completion to enhance Colombo Port’s capacity
https://www.themorning.lk/articles/XIcT2nulIN2M1aNxOLzm
*Remittances up 18% y-o-y*
Sri Lanka’s year-on-year (y-o-y) remittances for the first five months of the year exceeded $ 3 billion in the first five months, up by 18.2% from the same period last year ($ 2.62 billion), data from the Central Bank of Sri Lanka (CBSL) shows.
https://www.themorning.lk/articles/XPdY4UJxVIP5i8UX06v3
*$ 530 m in vehicle import LCs opened*
• Govt. confirms no restrictions on vehicle types following import ban lift
• Vehicle imports align with State targets despite concerns over high prices
• IMF agreement rules out any tax cuts on vehicles for 2025
https://www.themorning.lk/articles/2Zh5KicUhzl4WhyAdlZg
*IPO momentum builds as CSE eyes derivatives market entry*
• 5-6 IPOs lined up as market hits record highs
• Foreign investor inflows remain subdued despite local rally
• CSE and India’s NCDEX shortlisted to launch SL’s first derivatives exchange
• New exchange will not be based in Port City: CSE chief
https://www.themorning.lk/articles/EoFY4OJSNhhOCYTHD1cU
*India and Sri Lanka eye dual listing to build ‘financial bridge’ between capital markets*
• Move would allow Sri Lankan firms to raise USD capital via India’s GIFT City for global expansion
• Initiative designed as a two-way partnership, with Sri Lanka also inviting Indian companies to list on the CSE
*Tourism earnings climb to US$ 1.54bn in first five months*
May tourism earnings up by 6.5% YoY to US$ 164.1mn
*Sri Lanka repays foreign debt in budget to April 2025, current spending picks up*
ECONOMYNEXT – Foreign financing of Sri Lanka’s budget was negative up to April 2025 by 27.9 billion rupees, up from 7.4 billion last year, official data shows indicating that foreign debt was being repaid on a net basis again.
*Sri Lanka’s Elephant House drinks distribution begins in India*
ECONOMYNEXT – Distribution of Elephant House beverages in India has started, under a partnership struck with Reliance Retail Ventures Limited, Ceylon Cold Stores, a unit of Sri Lanka’s John Keells Holdings said.
https://economynext.com/sri-lankas-elephant-house-drinks-distribution-begins-in-india-224527/
Friday
6th June 2025
Daily Financial News in Sri Lanka by Stockmarket.lk
Sugar importers warn against tax hike, say consumers will pay the price
Sugar importers have urged President Anura Kumara Dissanayake not to raise the current Rs. 50/kg import tax, warning it would inflate prices, benefit large stockholders unfairly, harm small importers, and disrupt the market, as local sugar covers only 10% of demand and is unsuitable for industrial use.
SLBFE faces CoPE scrutiny over Rs. 1 b in unauthorised spending, financial mismanagement
• CoPE uncovers SLBFE spending over Rs. 1.3 b on unapproved programs in 2024, bypassing Cabinet approval
• ‘Glocal Fair’ alone costs Rs. 1.259 b, far exceeding usual Rs. 2 m outreach allocation
• Trade stall procurement costs jump from Rs. 170,000 to Rs. 500,000 without clear explanation
• CoPE Chief accuses SLBFE of wasting funds on non-strategic, unplanned activities
• ‘Rataviruwo’ housing loan scheme fails; Rs. 100 m remains unpaid, with no beneficiary data
• Urges better use of SLBFE’s Rs. 18 b in fixed deposits
• Kuwait Compensation Fund worth Rs. 5.1 b remains underutilised; plans made for training and pensions
• Fraud surfaces in migrant worker registration, with agencies falsely claiming fee refunds
• Sub-committee to probe financial fraud by employment agencies
DFCC Bank acts as Lead Arranger in $ 100 m loan for India’s Satin Creditcare
DFCC Bank PLC has joined as a Lead Arranger in a $100 million syndicated social loan for India’s Satin Creditcare Network Ltd., supporting financial inclusion and women’s empowerment through collateral-free microloans in rural and semi-urban areas.
Salt Production: May take 3-4 months to normalise
Sri Lanka's salt production has dropped over 35% due to prolonged rains, but the Ministry of Trade assures no shortage as daily salt imports fill the gap, with normal production expected to resume in 3–4 months depending on weather conditions.
https://www.themorning.lk/articles/jniYXCKKekdPmgDOm1Ug
Sri Lanka spends Rs. 1.5 t on debt
• Over 20% of annual borrowing limit utilised for principal and interest payments by April
• Domestic debt service accounts for a large portion; GDP projection for 2025 revised down
https://www.themorning.lk/articles/G04xkM1FzDRMDdDOjftl
Oil prices slip on a Saudi price cut and a US inventory build
Crude oil prices fell as traders reacted to rising U.S. fuel inventories, Saudi Arabia's price cuts to near four-year lows, and OPEC+ plans to boost output, despite ongoing expectations of a supply surplus that has yet to materialize.
https://www.themorning.lk/articles/iHD1yj6jbns77woWSUAj
Korean Ambassador explores investment opportunities at H’tota International Port
Korean Ambassador Miyon Lee visited Hambantota International Port in May to assess its operations and discuss potential investment opportunities, with HIP promoting the port as a strategic hub for Korean trade and manufacturing.
Ceylon Chamber hosts EU Delegation
The Ceylon Chamber of Commerce hosted Poland’s Foreign Minister Radosław Sikorski and an EU delegation to strengthen EU-Sri Lanka trade and investment ties, focusing on key sectors like apparel, tourism, IT, and energy, while highlighting the private sector's role in sustainable economic collaboration.
https://www.dailynews.lk/2025/06/06/business/791434/ceylon-chamber-hosts-eu-delegation/
LOLC Group posts Rs. 41 b net profit; assets top Rs. 2 t mark
LOLC Holdings PLC reported a record after-tax profit of Rs. 41 billion for FY 2024/25—an 89% increase—driven by strong financial services performance, strategic global acquisitions, and expanding presence across over 25 countries and multiple sectors.
https://www.ft.lk/top-story/LOLC-Group-posts-Rs-41-b-net-profit-assets-top-Rs-2-t-mark/26-777362
United Motor Lanka returns to profitability after years of losses
United Motors Lanka PLC returned to profitability in FY2024/25 with a Rs. 73 million profit, driven by the lifting of Sri Lanka’s vehicle import ban, strong performance from its Dutch Lanka Trailers acquisition, and strategic shifts including local assembly, diversification, and plans to introduce electric vehicles.
https://www.themorning.lk/articles/60AEi9fJ1oXp5X3Ik2o6
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/
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/