Foreign reserves fall by US$ 295mn in April as war-driven oil shock pressures external sector

Sri Lanka’s foreign currency reserves fell by US$ 295 million in April, reflecting mounting pressure on the country’s external sector from higher oil import costs and slowing inflows from exports and tourism as the Iran war disrupted global trade and energy markets

CDF Duty Free at Port City eyes indian luxury spenders as traveller footfall tops 120,000

China Duty Free (CDF) at Port City Colombo is strategically targeting the high-net-worth Indian demographic for its next phase of exponential growth, having successfully surpassed the milestone of serving 120,000 travellers.

Remittances hold firm despite Iran war shock rippling through Mideast

Sri Lankan workers abroad continued to support the country’s fragile external sector in April, with remittance inflows remaining robust despite concerns that the escalating Iran war could disrupt labour markets across the Middle East, a key destination for Sri Lankan migrant workers.

Vietjet Air announces direct flights from Colombo to Ho Chi Minh City commencing mid August 

Vietnamese new-age hybrid airline Vietjet Air officially announced its first direct flight service connecting Colombo and Ho Chi Minh City during the Sri Lanka – Vietnam Trade, Investment and Tourism Cooperation Forum held in Colombo last week.

March private sector credit accelerates to Rs.258bn

Credit to Sri Lanka’s private sector accelerated sharply in March, nearing the record levels seen late last year, amid signs that borrowers may have rushed to secure financing before interest rates rose further following the outbreak of the Iran war and the resulting strain on macroeconomic conditions.

CEPA conference culminates with economic policy push for inclusive growth and resilience

The Centre for Poverty Analysis (CEPA) marked its 25th anniversary with the inauguration of the international conference on ‘Poverty and Development in Times of Crisis’, held at Cinnamon Grand Colombo, on May 7 and 8, 2026.

LB CIM brings doctor channelling services to app with e-Channeling

LB CIM, the flagship digital lifestyle application powered by LB Finance PLC, has entered a strategic partnership with e-Channeling PLC, Sri Lanka’s leading digital healthcare platform, to offer doctor channelling services directly through the LB CIM app.

Prime Constructions achieves ISO 9001:2015 certification

Prime Constructions (Pvt.) Ltd, the construction arm of the real estate leader Prime Group, has achieved the ISO 9001:2015 certification, a milestone showcasing the company’s steadfast commitment to quality, trust and internationally recognised standards.

CCC-Mineral Technologies Australia to host Mineral Sands Technical Conference

As Sri Lanka looks to better position its mineral sands resources within a globally competitive and responsibly developed industrial framework, The Ceylon Chamber of Commerce (CCC) will host a one-day Technical Conference on the mineral sands sector on June 17, at Galle Face Hotel, Colombo, from 9:00 a.m. to 5:00 p.m.

Sri Lanka Insurance Corporation General surpasses Rs.30bn GWP

Sri Lanka Insurance Corporation General Limited (SLICGL) has achieved a historic milestone, becoming the first general insurance (GI) company in Sri Lanka to surpass Rs.30 billion in gross written premium (GWP).

Hapag Lloyd Lanka recognised as an industry leader

At the awards ceremony organised by the Institute of Chartered Shipbrokers (ICS) (UK) – Sri Lanka Branch, Hapag‑Lloyd Lanka, a subsidiary of Aitken Spence PLC and the local representative of Hapag‑Lloyd AG, Hamburg, was recognised with two Customer Service Awards for excellence in the Europe and Mediterranean trades.

George Steuart Insurance Brokers shuffles board

In a move aimed at strengthening its corporate structure and long-term plans for the future, George Steuart Insurance Brokers (Pvt.) Ltd (GSIB) appointed T.S. Arulanandan (Arul) as its Managing Director and Principal Officer, effective from April 1, 2026.

Siyapatha Finance unveils 62nd branch in Horana

Siyapatha Finance PLC recently unveiled its newest branch in Horana, successfully expanding its islandwide branch network to 62 branches.

Ministry of Brands opens second outlet at One Galle Face Mall

Ministry of Brands (MOB), Sri Lanka’s first off-price retailer, has officially opened its second outlet at One Galle Face Mall, marking another major milestone in the company’s rapid expansion since launching earlier this year.

WEBXPAY appoints Nemantha Abeysinghe to strengthen board and corporate governance

WEBXPAY (Private) Limited, a leading digital payments and financial solutions provider in Sri Lanka, has announced the appointment of Nemantha Nilhan Abeysinghe as an Independent Non-Executive Director to its board, effective April 10, 2026.

Sri Lanka’s elevated risk profile to trigger higher tariffs in future state energy tenders

Sri Lanka’s renewable energy sector is warning of a severe long-term fallout from the ongoing financial crisis, cautioning that the government’s blatant disregard for the existing payment agreements will drastically drive up the cost of future clean energy projects.

Preparedness uneven as Sri Lankan corporates face rising global shocks

The Sri Lankan corporates are better prepared for external shocks than they were during the 2022 crisis but significant gaps remain, particularly in scenario planning and deep risk analysis, Association of Chartered Certified Accountants (ACCA) Chairman Chaaminda Kumarasiri said.

Viet Nam-Sri Lanka exchange 5 MoUs

Viet Nam and Sri Lanka signed five memoranda of understanding (MoUs) covering areas including tourism, security cooperation, religious and cultural affairs, civil and commercial engagement, transport, economic cooperation as well as science and technology.

Range Rover brings experience-led luxury retail concept to Colombo

Range Rover has expanded its presence in Sri Lanka’s luxury market with the launch of a boutique residency concept in Colombo, as premium automotive brands increasingly move beyond traditional showrooms to create immersive, lifestyle-driven client experiences.

Emirates group achieves record profit of US $ 6.6bn in 2025-26

The Emirates group this week announced achieving new record profit, revenue and cash balance levels, despite a disruptive and challenging 12th month in its financial year.

ASPI gains 1.6% during the week

The ASPI closed in green as a result of price gains in counters such as Hayleys, Colombo Dockyard and Dialog Axiata with the turnover crossing Rs. 4.0 Bn. A similar behaviour was witnessed in the S&P SL20. High net worth and institutional investor participation was noted in Sarvodaya Development Finance, Ceylon Cold Stores and Commercial Bank. Mixed interest was observed in Colombo Dockyard, Haycarb and Bairaha Farms whilst retail interest was no

Secondary market reflects low tones at week’s end

The week ended on a subdued note in the secondary market, with very limited trading activity and ultra-thin volumes.

SL Toastmasters movement gears up for ‘Ovation 2026’

District 82 Toastmasters International is gearing up for Ovation 2026, its annual conference themed Tides of Transformation, scheduled for May 16 - 17 at Shangri-La Colombo, powered by Home Lands as the Title Partner. The event was announced by the District 82 during a media briefing held at the Courtyard by Marriott Colombo last week, to give a closer look at the organization, its four-decade journey in Sri Lanka and what to expect at this year

CINEC helps students unlock a career that truly makes a difference

A dynamic learning opportunity awaits at CINEC thanks to a variety of Diplomas and Degrees, all of which are approved by the UGC and MoHE of Sri Lanka, opening a host of opportunities and still accessible for all aspiring students.

ADT leads with widespread relief and recovery efforts post-Ditwah

In the aftermath of devastating floods that displaced entire communities across the country, the Alliance Development Trust (ADT) emerged as a key actor in relief, recovery, and long-term rebuilding efforts, reaching thousands of affected families across multiple districts.

Goldi Sands Negombo celebrates New Year with guests

The Sinhala and Hindu New Year was celebrated at Goldi Sands Hotel Negombo on 13 April, bringing together both local and international guests for a day filled with tradition, colour, and cultural festivity.

Janashakthi ties-up with President’s Fund to enlarge healthcare assistance

Janashakthi Foundation, the philanthropic arm of JXG (Janashakthi Group) this week announced its partnership with the President’s Fund, to expand healthcare related financial assistance for children under 18 years, beginning 15 May 2026.

Tokyo Cement Group kicks off 2026 leg of ‘Ivuru Rakina Pawuru’ with New Zealand Rugby

Tokyo Cement Group, in collaboration with the Mahaweli Authority, launched the 2026 tree-planting season of the ‘Ivuru Rakina Pawuru’ project near the Polgolla Dam in Kandy, joined by members of the touring New Zealand Under-85kg rugby team.

Rotary Club of Colombo Port City rebuilds education after cyclone

The mud has dried in the classrooms of the North Central Province, but the water mark on the walls remains, a waist-high reminder of the chaos that Cyclone Ditwah unleashed last November.

GS Sports marks 5 years of advancing fitness solutions in Sri Lanka

GS Sports, a leading provider of end-to-end fitness solutions in Sri Lanka and part of George Steuart Health, marked its fifth anniversary with a commemorative event held on 29 April at its flagship showroom in Colombo 3. The milestone reflects five years of steady growth, technical expertise, and a sustained commitment to strengthening fitness infrastructure across the country.