Delayed salary payments to get tax relief under new IRD framework

The employees receiving years of unpaid salary, due to labour disputes, reinstatements and delayed promotions, could see a lighter tax burden under the new Inland Revenue Department (IRD) guidelines, aimed at ensuring fairer treatment of salary arrears.

IRD opens e-filing platform for 2025/2026 income tax returns

The Inland Revenue Department (IRD) has opened its e-service platform for the submission of income tax returns for the year of assessment 2025/2026, urging the taxpayers to file their returns electronically before the November deadline.

SL’s debt burden far from over: Analyst

Sri Lanka’s macroeconomic adjustment path remains heavily burdened by an unchanged debt stock and widening trade deficits, while the flexible exchange rate policies continue to trigger massive balance sheet shocks across the state enterprises, according to Global Business Cycle Economist Dr. Kenneth De Zilwa. Discussing the nation’s debt fundamentals, Dr. De Zilwa pointed out that while the external debt restructuring has offered near-term breath

Sri Lanka Insurance Life declares record Rs.14.7bn bonus to policyholders

Sri Lanka Insurance Life (SLIC Life) has declared a record Rs.14.68 billion bonus to the policyholders for 2025, the highest annual life insurance bonus payout in Sri Lanka’s insurance industry.

Shipping Corp plans exit from Singapore vessel management model

State-owned Ceylon Shipping Corporation (CSCL) plans to replace its long-running vessel management arrangement with Singapore-based Wallem Shipping, with a direct brokerage model, as it seeks to reduce management costs and improve access to international freight markets, following concerns raised by Parliament’s Committee on Public Enterprises (COPE). The proposed shift, expected after the expiry of the current agreement in September 2026, emerge

Indices close in red

The ASPI closed in red as a result of price losses in counters such as Hatton National Bank, R I L Property and Dialog Axiata with the turnover crossing Rs. 1.3bn. A similar behaviour was witnessed in the S&P SL20. High net worth and institutional investor participation was noted in Windforce, Hemas Holdings and Hatton National Bank nonvoting. Mixed interest was observed in Singer Sri Lanka, Ceylon Cold Stores and John Keells Holdings whilst re

Week opens on subdued secondary market movement

The secondary market yesterday witnessed an overall easing in activity levels as it opened this week on a dull tone, with thin volumes being traded, leaving the overall yield curve unchanged.

Shavinda Jinadasa appointed Commercial Director for Cinnamon Resorts Sector

Cinnamon Hotels & Resorts announced the appointment of Shavinda Jinadasa as Commercial Director for its Sri Lanka Resorts sector.

Softlogic IT wins Outstanding Performance award at Xerox Channel Partner Meet

Softlogic Information Technologies (Pvt) Ltd. was recently honoured with the award for Outstanding Performance at the International Xerox Channel Partner Meet, further cementing its reputation as one of Sri Lanka’s leading providers of printing solutions.

IT Gallery Computers excels at ‘Lenovo 360 Accelerate 2026’ regional summit

IT Gallery Computers (Pvt) Ltd.has been honoured with the ‘Distributor Excellence Award 2025–2026 | Gaming & Visual Sri Lanka’ at the Lenovo 360 Accelerate 2026, marking a significant milestone in its continued partnership with Lenovo and its contribution to the growth of the Gaming & Visual business segment in Sri Lanka.

New Anthoney’s Feeds wins four Golds and Silver at NCQP 2026

New Anthoney’s Feeds won four Gold Awards and one Silver Award at the National Convention on Quality and Productivity (NCQP) 2026, claiming recognition across all five improvement projects it entered.

SLAM Power Solutions and Ceyring launch Sri Lanka’s first industrial BESS integrating with solar power

Marking a major milestone for sustainable energy supply for Industries, SLAM Power Solutions, in partnership with Ceyring (Pvt) Ltd, has officially commissioned Sri Lanka’s first industrial-scale Battery Energy Storage System (BESS) integrating with Solar Power at the Ceyring factory in Horana.

HNB Life signs MOU with GMOA to extend exclusive benefits to members

HNB Life PLC entered a Memorandum of Understanding (MOU) with the Government Medical Officers’ Association (GMOA), marking the beginning of a strategic collaboration aimed at delivering enhanced value and protection solutions to medical professionals across Sri Lanka.

Sampath Bank launches Sri Lanka’s first real-time USD payment solution for SLPA users

Sampath Bank PLC and the Sri Lanka Ports Authority (SLPA) have jointly launched Sri Lanka’s first real-time USD payment solution for the maritime industry, eliminating traditional manual payment processes and streamlining foreign currency transactions across the country’s shipping and logistics ecosystem.

OFFMARKS unveils two skincare products

OFFMARKS, one of Sri Lanka’s leading names in skincare, has launched two new products aimed at protecting and rejuvenating the skin: the Collagen + Vitamin C Skin Serum and the Bright & Protect Sunscreen.

Seylan Bank introduces ‘Athwela’ to strengthen country’s agriculture sector

Seylan Bank, in collaboration with the Department of Development Finance, has introduced ‘Seylan Athwela’, a concessionary financing initiative designed to strengthen Sri Lanka’s agriculture sector by improving access to affordable funding for farmers, agribusinesses, and agriculture-related enterprises.

Stanley Lifestyles enters Sri Lanka through strategic partnership with Singer

Stanley Lifestyles, India’s leading luxury furniture and lifestyle brand, has officially entered the Sri Lankan market through a strategic partnership with Singer Sri Lanka PLC, the country’s leading retailer, introducing a distinguished collection of world-class furniture defined by exceptional craftsmanship, refined design, and uncompromising quality.

Dialog Introduces Dialog Pay, Unifying Connectivity, Payments and Financial Services

LB Finance tops 4Q ranking of Sri Lanka’s largest listed finance companies

LB Finance PLC has emerged as the top-ranked company among Sri Lanka’s eight largest listed finance companies for the fourth quarter of financial year 2025/26, outperforming the larger rivals on a composite score spanning profitability, efficiency, asset quality and growth, according to a sector ranking report released by K Seeds Investments (Pvt.) Ltd. Colombo-based boutique investment bank and advisory firm, K Seeds Investments (Pvt.) Ltd, has

CEAT Kelani strengthens SUV tyre portfolio with two new additions

CEAT Kelani Holdings has expanded its radial tyre portfolio in Sri Lanka with the launch of two new SUV-focused products engineered to deliver a superior blend of control, comfort and durability across the country’s diverse driving conditions.

All 10 turbines now in Sri Lanka as HayWind accelerates Mannar Wind Farm development

HayWind One Limited, the wind energy arm of Hayleys Fentons Limited, has announced that all 10 wind turbines for its 50MW Mannar Wind Farm Project have now arrived in Sri Lanka, marking a key milestone as the project advances into its peak construction and installation phase.

EFC new Chair reaffirms commitment to national employment policies and responsible business initiatives

The Employers’ Federation of Ceylon (EFC) recently concluded its 97th Annual General Meeting at the BMICH.

Uber arrives in Sri Lanka’s gem capital

Uber, Sri Lanka’s leading ride-hailing and delivery platform, announced the launch of Uber Eats and Uber Rides in Ratnapura, further expanding its footprint across the island. Residents and visitors can now access food, groceries, everyday essentials and reliable transportation through the Uber app, while local merchants, delivery partners and drivers gain new opportunities to grow and earn.

Early market gains fade as selling pressure dominates trading

The Colombo Stock Exchange ended today’s session in negative territory after failing to sustain a positive start. Both indices opened higher, reflecting early buying interest, but sentiment weakened as the session progressed, with profit-taking in several index-heavy counters eroding initial gains. Consequently, the ASPI declined by 98.08 points (-0.44%) to close at 22,080.65, while the S&P SL20 fell by 27.17 points (-0.44%) to 6,076.18.

AWS to charge 18% VAT on unregistered Sri Lankan customers, but implementation date still pending

Amazon Web Services (AWS) has notified its Sri Lankan customers that it will begin charging 18 percent Value Added Tax (VAT) on invoices for AWS cloud services and AWS Marketplace purchases, unless customers are VAT-registered and have submitted a valid Tax Registration Number (TRN) to the company.

Colombo condo sales plunge 15.2% in 1Q amid soaring prices

A sharp 15.2 percent year-on-year drop in condominium property sales volumes stole the spotlight in the first quarter of 2026, even as prices for new units continued their aggressive upward march.

Unemployment drops to 3.7% in 1Q amid shrinking workforce, inflation pressures

Sri Lanka’s official unemployment rate ticked down to 3.7 percent in the first quarter of 2026, down from the 3.8 percent reported during the corresponding period last year, according to the Central Bank of Sri Lanka.

Central Bank pulls the plug on Nation Lanka Finance after failed rescue attempts

The Central Bank of Sri Lanka has officially cancelled the finance business licence of Nation Lanka Finance PLC, effective July 3, 2026, moving to liquidate the chronically distressed firm after exhaustive restructuring efforts failed to yield a viable revival plan.

Trade policy expert urges quality growth initiative with JICA assistance to boost exports

Dr. Lakna Paranawithana, an independent management consultant who played a key role in developing the Sri Lanka Rubber Master Plan and served as a senior advisor to the government,

PGP Glass exports fall 22% as furnace overhaul forces shift to home market

PGP Glass Ceylon PLC, the country’s sole glass packaging manufacturer, saw export sales fall 22 percent to Rs. 5.22 billion in the financial year ended 31 March 2026, from Rs. 6.72 billion a year earlier, as a two-month old repair of its Horana furnace forced management to redirect scarce production capacity to protect domestic supply.