CBSL declares 22 companies and apps as prohibited pyramid schemes

The Central Bank of Sri Lanka (CBSL) has officially identified and declared 22 companies and mobile applications as prohibited pyramid schemes under Section 83(C) of the Banking Act No. 30 of 1988, as amended.

Profit taking weighs on ASPI: JFP.N debuts with strong gains

The Colombo Stock Exchange remained subdued on Tuesday (19th November 2025), with the ASPI closing in negative territory for the fifth consecutive session, recording a modest decline of 21.80 points (-0.09%) to 23,029.86. The S&P SL20 also retreated, falling 14.96 points (-0.23%) to 6,361.58, as volatility persisted and overall market activity remained muted.

Auditor General exposes Rs. 200mn wastage in livestock breeding and vaccine projects

The Auditor General has issued a stinging critique of the Department of Animal Production and Health (DAPH), flagging over Rs. 200 million in public funds tied up in failed breeding projects and questionable equipment procurement, in a detailed report for the year ended December 31, 2024.

Sri Lanka sees spurt in economic activities as shown by PMI for October

Sri Lanka is seeing a spurt in the economic activities across both manufacturing and services sectors in October 2025 on upcoming festive demand backed by solid macro-economic conditions and rising tourist arrivals.

LOLC Finance to issue Rs.15 bn in listed, rated debentures

LOLC Finance PLC said it will proceed with a Rs.15 billion debenture issue, following board approval for the fundraising programme announced in early September.

FACETS 2026 unites gems and real estate on ‘timeless legacies’ philosophy

Sri Lanka’s premier gem and jewellery exhibition, FACETS Sri Lanka, has announced John Keells Properties as its official real estate partner for the 2026 showcase, launching a partnership built on a shared philosophy of “timeless legacies.”

Senkadagala Finance announces Rs. 1 bn rights issue to fund expansion and support capital buffers

Senkadagala Finance PLC has announced a rights issue to raise approximately Rs. 1.03 billion to support its projected business growth and expand its loan portfolio.

Indices continue to close in red

The ASPI closed in red as a result of price losses in counters such as Senkadagala Finance, Hatton National Bank and Richard Pieris & Company with the turnover crossing Rs. 4.4 bn.

Steady yields amid mixed activity

The secondary market continued to exhibit mixed sentiment yesterday with moderate trading activity, while the overall yield curve remained largely stable.

Expert calls for greater digital integration at IRD and Tax Appeals Commission

In line with the government’s robust commitment towards digitalisation, the Inland Revenue Department (IRD) can conduct interviews and administrative tax reviews online to save time and be more cost effective, KPMG Sri Lanka Tax and Regulatory Partner Hasitha Radella suggested.

Govt. approves night duty for women in hotels

The Cabinet of Ministers has approved an amendment to the Shop and Office Servants (Regulation of Service and Remuneration) Act, allowing women over 18 years of age working as food and beverage servers in commercial hotels and restaurants to be employed during night hours, after 6:00 p.m. and before 6:00 a.m.

Heritance Kandalama awarded Silver at 2025 ICRT Global Responsible Tourism Awards

Heritance Kandalama has once again brought pride to Sri Lanka’s hospitality industry, being recognised on the world stage at the 2025 International Centre for Responsible Tourism (ICRT) Global Responsible Tourism Awards.

Trade and investment opportunities for Sri Lanka and Luxembourg

Sri Lanka Embassy in Belgium, which is also accredited to Luxembourg, hosted a ‘Country Seminar on Sri Lanka’ in collaboration with the Luxembourg Chamber of Commerce, on October 30, 2025.

Emirates orders 65 additional Boeing 777X aircraft, worth US $ 38bn at Dubai Airshow 2025

Emirates, the world’s largest international airline, has announced orders for 65 additional Boeing 777-9 aircraft, powered by GE 9X engines, worth US $ 38 billion at list prices, on the opening day of Dubai Airshow 2025.

Sampath Bank Private Banking partners with Mercedes-Benz Fashion Week Sri Lanka

Sampath Bank Private Banking announced its role as the Official Banking Partner for Mercedes-Benz Fashion Week Sri Lanka (MBFWSL) 2025, presented by Academy of Design (AOD).

Green Tape powers 10,000th digital tender

Green Tape, Sri Lanka’s cutting-edge integrated digital procurement ecosystem, has reached a major milestone with the execution of its 10,000th tender, underscoring the growing shift toward transparent, accountable and sustainable business practices.

LK Domain Registry introduces myPage.lk platform

LK Domain Registry, celebrating 35 years as Sri Lanka’s trusted digital identity custodian, announced myPage.lk, an innovative platform that enables anyone to establish a professional online presence in minutes without requiring technical expertise.

Bureau Veritas Lanka achieves Gold at Presidential Environment Awards 2025

Bureau Veritas Consumer Products Services Lanka (Pvt.) Ltd, part of Bureau Veritas, was honoured with the prestigious Gold award under the Environment Friendly Private Institutions Category, at Presidential Environment Awards 2025, demonstrating remarkable progress from its Silver award achievement last year.

Bairaha Chicken reaffirms improved quality, longer shelf life without chemicals/preservative use

Bairaha Farms PLC, Sri Lanka’s pioneering and leading chicken processor, reaffirms its dedication to providing consumers with the highest quality, antibiotic-free chicken products, devoid of chemical, artificial additives, preservatives or added hormones.

Futurity secures seed funding to introduce AI-enabled intelligence for everyday work

Futurity, Sri Lanka’s first artificial intelligence (AI)-native research and development studio, yesterday announced the successful close of its seed funding round.

Market pullback deepens as selling resumes

The Colombo Stock Exchange witnessed another weak trading session on Tuesday (18th November 2025), with the ASPI declining 172.02 points (-0.72%) to close at 23,051.66, extending its pullback from the all-time high of 23,769.5. Market sentiment remained cautious as investors continued to lock in profits, while selective buying emerged in fundamentally strong counters amid the broader market correction.

Industry warns of productivity fallout from 2026 estate wage hike

The government’s latest decision to raise the plantation workers’ wages has been made without any consultations with the industry personnel, a senior representative of the plantation sector said while asserting the move could impact the output.

Sri Lanka hits 2mn tourist arrival mark

Sri Lanka’s tourism industry officially surpassed the two million arrival mark for 2025 yesterday, placing its current performance on par with the 2018 all-time record year.

Mobile operations massively lift Dialog September performance

Dialog Axiata PLC reported a strong performance for the three months ended in September, led by the mobile operations, while the fixed telephony and broadband and television segments languished.

FTZMA backs Rs.3,000 wage hike for 2026

The Free Trade Zone Manufacturers Association (FTZMA) yesterday shared it has agreed on a general wage increase of Rs.3,000 for 2026.

Senthilverl Holdings raises stake in Serendib Land to 38%

Senthilverl Holdings (Pvt.) Ltd has increased its shareholding in Serendib Land PLC, boosting its stake to 38.27 percent, according to a disclosure to the Colombo Stock Exchange.

Week begins in red

The ASPI closed in red as a result of price losses in counters such as Ceylinco Holdings, Senkadagala Finance and Bukit Darah with the turnover crossing Rs. 4.4 Bn. A similar behaviour was witnessed in the S&P SL20. High net worth and institutional investor participation was noted in Ceylon Tobacco Company, Hemas Holdings and Tokyo Cement Company. Mixed interest was observed in Laugfs Gas, Amana Bank and Browns Investments whilst retail interest

Vidullanka buys 30% stake in SAFE Power

Vidullanka PLC has signed a share purchase agreement with Arinma Power (Pvt.) Limited to acquire a 30 percent equity stake in SAFE Power International (Pvt.) Ltd for Rs.225 million.

Keells’ own brands redefining everyday value

The common perception is that affordability and quality pull in opposite directions. Yet Keells has created a distinct space through its own brand portfolio, a range of products that proves value and quality can go hand in hand. With over 350 products across multiple categories, Keells’ own-label products offer customers more than just price advantages; they deliver consistent quality, thoughtful packaging, and the reassurance of a trusted super

RMB Internationalization Forum strengthens financial cooperation between SL and China

The RMB Internationalization Forum 2025, organized by the Sri Lanka–China Business Council of the Ceylon Chamber of Commerce in collaboration with the Bank of China, was held recently at the Shangri-La Colombo. The event brought together distinguished policymakers, diplomats, and business leaders to discuss the future of bilateral trade and financial cooperation through the use of the Chinese Yuan (RMB).