IFC and WindForce partner on Sri Lanka’s first large-scale solar project

The International Finance Corporation (IFC), a member of the World Bank Group, announced a partnership with WindForce PLC to develop Sri Lanka’s first utility-scale 100 megawatt (MW) solar power facility, a landmark project that will accelerate the country’s energy transition, strengthen energy security, lower electricity costs and create thousands of jobs.

Commercial Bank transforming SME growth through fast, intelligent, and customer-centric AI-powered lending

At a time when the Sri Lankan economy is navigating a crucial phase of recovery, empowering Small and Medium Enterprises (SMEs) has become more important than ever. As the backbone of the economy, SMEs continue to play a vital role in driving growth, employment, and innovation. Today, the sector is gaining increasing momentum in embracing digital transformation and modern business practices, positioning itself within a more progressive, technolog

Tea Industry Overview of 2026 First Quarter

During the first quarter of 2026, Sri Lanka’s tea industry recorded declines across Production, Export volumes, and National Tea Sale Average Price compared to the same period in 2025. Total tea production dropped by 2.55 million kilograms, falling from 62.16 million kilograms in 2025 to 59.61 million kilograms in 2026. Total exports also declined by 2.85 million kilograms, decreasing from 63.21 million kilograms to 60.36 million kilograms. Meanw

Market activity remains muted, keeping yields stable

The secondary market recorded subdued trading activity yesterday, leaving the overall yield curve largely unchanged.

Indices continue to close in green

The ASPI edged up as a result of price gains in counters such as Janashakthi Limited, Ceylon Beverage Holdings and John Keells Holdings with the turnover crossing Rs. 4.1 Bn. Meanwhile, the S&P SL20 closed in green.

Right of Reply SriLankan Airlines statement on Daily Mirror article ‘SriLankan Airlines whistleblower exposes massive financial leakages’

SriLankan Airlines wishes to clarify the misleading claims made in the Daily Mirror article titled ‘SriLankan Airlines whistleblower exposes massive financial leakages’, published on April 23, 2026.

Union Bank records strong start to 2026 with Rs.465mn PBT

Building on its 2025 performance, during which the bank doubled its bottom-line Union Bank has commenced 2026 with a strong momentum, reinforcing its trajectory as one of the fastest-growing commercial banks in the country. The 1Q 2026 results reflect a sharp acceleration in core earnings, driven by solid gains in profitability and revenue. Profit before tax (PBT) rose by 260 percent to Rs.465 million, while profit after tax (PAT) surged by 570

SA lifestyle brand Otherland Hotels enters SL market with new 66-room oceanfront property in Galle

South Asian lifestyle brand Otherland Hotels has officially entered the Sri Lankan market, with the announcement of a new 66-room oceanfront property in Galle.

JXG rings opening bell at CSE celebrating successful IPO and market debut

The senior leadership of JXG (Janashakthi Group) ceremonially rang the opening bell of the Colombo Stock Exchange (CSE) on April 29, 2026, marking the successful conclusion of its initial public offering (IPO) and subsequent listing.

Seylan Bank reports Rs.2.91bn PAT in 1Q26

Seylan Bank recorded a profit before income tax (PBT) of Rs.4,548 million in 1Q 2026, against Rs.4,199 million, reflecting a growth of 8.31 percent.

Government on verge of lifting palm oil ban

The government is on the verge of lifting the existing ban on oil palm cultivation, pending the final Cabinet approval, setting the stage for a major agricultural revival.

Middle East crisis, a wakeup call for structural reforms: Aryasinha

The ongoing Middle East crisis should serve as a critical wakeup call for Sri Lanka to implement long-overdue fundamental structural economic reforms, according to Regional Centre for Strategic Studies Executive Director Ravinatha Aryasinha.

CTC appoints Sarmad Abbasi as MD/ED

Ceylon Tobacco Company PLC (CTC) announced a leadership transition with Managing Director and Executive Director Fariyha Subhani set to step down with effect from 30 April, the company said in a disclosure.

ADB backs Sri Lanka’s export plan rollout as implementation phase nears

Sri Lanka’s push to recalibrate its export strategy gathered pace this week, with an Asian Development Bank (ADB) mission engaging the Export Development Board (EDB) on the rollout of the country’s National Export Development Plan (NEDP) for 2026–2030.

SL’s tax strategy risks backfiring as illicit cigarette trade gains ground

Sri Lanka’s reliance on tobacco taxes is facing a growing policy contradiction, with Ceylon Tobacco Company (CTC) warning that repeated excise hikes are accelerating a shift toward illicit cigarettes, potentially undermining Government revenue even as the sector remains a major fiscal pillar.

LB Finance secures US$ 15mn from Enabling Qapital

LB Finance PLC has secured a US$ 15 million senior debt facility from Enabling Qapital Ltd. (EQ), a Switzerland-based impact asset manager, marking another significant step in the company’s strategic funding journey and reinforcing its commitment to advancing inclusive finance in Sri Lanka.

NDB’s Shanil Fernando steps down from board

National Development Bank PLC (NDB) yesterday announced the resignation of Independent Non-Executive Director Shanil Fernando, in the first board-level exit following the bank’s Rs.13.2 billion fraud scandal.

Indices continue to close in green

The ASPI edged up as a result of price gains in counters such as Commercial Bank, John Keells Holdings and ACL Cables with the turnover crossing Rs.3.0bn.

Tepid trading conditions persist, yields hold steady

The subdued tone seen over the past week extended into yesterday’s session. Nonetheless, activity registered a modest improvement relative to yesterday, although volumes remained below normal levels.

ComBank secures Global Finance Asia-Pacific regional award for Circular Economy Commitment

Commercial Bank of Ceylon has been named the Asia Pacific regional winner of the Circular Economy Commitment award at the sixth annual Sustainable Finance Awards presented by Global Finance, securing a significant third-party endorsement of the bank’s commitment to sustainable and responsible banking.

Amana Takaful, SL’s Most Awarded Insurance Company again

Amana Takaful Insurance has been recognised as Sri Lanka’s Most Awarded Insurance Company for 2026 by LMD Magazine, marking its third consecutive year of achievement.

CEAT Kelani launches GRIPP X5 and ZOOM X5 premium motorcycle tyres for Sri Lankan roads

CEAT Kelani Holdings has strengthened its leadership in Sri Lanka’s two-wheeler tyre market with the launch of the X5 series of its premium motorcycle and scooter tyre ranges – GRIPP and ZOOM – which are engineered to deliver higher mileage, enhanced safety and superior performance for modern riding needs.

NSBM Green University: Illuminating nation through a decade of excellence

Celebrating its 10th anniversary this year, NSBM Green University has officially opened registrations for its May 2026 intake, continuing its mission of elevating Sri Lankan higher education to international standards.

DoubleTree by Hilton Weerawila Rajawarna Resort secures multiple wins

DoubleTree by Hilton Weerawila Rajawarna Resort is announced its recognition at the prestigious 2026 Haute Grandeur Global Excellence Awards, securing multiple accolades that reaffirm its position as one of Sri Lanka’s leading resort destinations.

People’s Bank PBIBU named as Best Investment Bank in Sri Lanka for 2026

People’s Bank Investment Banking Unit (PBIBU) was honoured with the prestigious Best Investment Bank Sri Lanka 2026 award at the 2026 Global Banking and Finance Review Awards, presented by Global Banking and Finance Review.

Pan Asia Bank offers solutions to face energy crisis

Anticipating the growing challenges surrounding fuel availability and energy costs in the country, Pan Asia Bank took proactive steps to offer customers a forward-looking solution.

Omega Line secures top honours at Best Management Practices Company Awards 2026

At Best Management Practices Company Awards 2026, Omega Line Ltd secured nine accolades, including the prestigious Overall Silver Award, positioning the company among the highest-performing organisations across all industries.

Ritzbury clinches People’s Chocolate Brand of the Year again

Ritzbury has been named as the People’s Chocolate Brand of the Year at SLIM-Kantar People’s Awards 2026, marking its second consecutive win at the prestigious awards ceremony held at Monarch Imperial.

Paradise Toys accelerates towards sustainable future with high-impact hybrid solar investment

In a decisive step towards sustainability and operational resilience, Paradise Toys (Pvt.) Ltd, a leading Sri Lankan manufacturer and exporter of baby educational soft toys, has successfully deployed a state-of-the-art 60kWp hybrid solar power system at its Kobeigane facility, enhancing energy stability across its operations in Wattala and Madurankuliya.

Platinum Excellence Awards 2026 K+ by Helanka, Strongest Footwear Brand of the Year

K+ by Helanka has been awarded the Strongest Footwear Brand of the Year at Platinum Excellence Awards 2026, one of Sri Lanka’s most recognised platforms for industry achievement, marking a defining moment in the brand’s continued rise across the country’s footwear market.