CBSL calls on banks to strengthen fraud detection with AI-driven tech

With the significant rise in online financial crimes, the Central Bank of Sri Lanka (CBSL) this week called on the financial institutions to explore the possibility of using artificial intelligence (AI)-driven technology to help tackle frauds and scams.

Sri Lanka must await B-minus credit upgrade to tap global markets

Sri Lanka must wait for a sovereign credit upgrade to B-minus level to access global financial markets, where the country could also start to experience significant foreign investment flows, a senior global banker said.

Budget 2025 charts clear path for stability and growth: Treasury Secretary

The Budget 2025 is a critical milestone in Sri Lanka’s economic recovery journey, as it has managed to strike a careful balance between maintaining fiscal discipline and addressing the immediate needs of the public, according to Secretary to the Treasury, K.M. Mahinda Siriwardana.

Exports top US$ 1.3 bn in January

Sri Lanka’s export sector kicked off 2025 on a positive note, with total exports crossing US$ 1.3 billion in January, marking a 7.5 percent year-on-year (YoY) increase, data from the Export Development Board (EDB) showed.

AI strategy key for local start-up competitiveness

Sri Lanka’s top tech industry veterans asserted the critical need for the start-ups to lead with artificial intelligence (AI) in their messaging, regardless of their business model, to stay competitive and align with the global and regional leaders in their respective fields.

Monthly national consumer prices slow to 0.9% 

Sri Lanka’s national monthly consumer prices slowed to 0.9 percent in January 2025 from the 1.1 percent increase in December 2024 on the back of increases in both food and non-food prices during January 2025.

Government aims global competitiveness with digital innovation: President

President Anura Kumara Dissanayake yesterday reaffirmed the government’s commitment to positioning Sri Lanka as a globally competitive nation through advancements in digitalisation and innovation.

Port of Colombo off to a shaky start in 2025

The Port of Colombo began 2025 on a shaky start as transshipment container volumes declined amidst persistent congestion, marking a contrast to the robust growth experienced in the first and latter parts of 2024.

Budget 2025 signals fiscal ambition but risks remain: Fitch

Sri Lanka’s Budget 2025 signals a strong push to boost fiscal revenues but risks to the country’s financial stability remain significant, Fitch Ratings warned.

2025 Budget brings tax tweaks but lacks scientific approach: Tax expert

Sri Lanka’s 2025 budget doesn’t introduce major tax changes but includes a few welcome adjustments. However, a tax expert points out that the budget still lacks a scientific approach, highlighting the need for a dedicated tax unit to advise the Finance Minister.

Budget 2025 aims to balance fiscal discipline and economic revival

Sri Lanka yesterday introduced a national budget aimed at balancing fiscal discipline with economic revival, while addressing the gap between the struggling households and long-term growth ambitions.

Govt. inaction stalls local pharma growth, SLPMA warns

The Sri Lanka Pharmaceutical Manufacturers Association (SLPMA) urged the government to create a level playing field for domestic pharmaceutical manufacturers to compete with imported pharmaceutical products.

Inflation set to climb this year, expected to peak in mid-2026: CBSL

Sri Lanka’s inflation is expected to increase “sizeably” in the third quarter this year (3Q25), with the possibility of it hovering around 2 percentage points above the inflation target in mid-2026, the Central Bank of Sri Lanka (CBSL) said in its monetary policy report that was released yesterday.

ADB reaffirms support for Sri Lanka with US$ 900mn planned for 2025 funding

Manila-based lender, the Asian Development Bank (ADB), has earmarked an indicative envelope of US$900 million for Sri Lanka’s development in 2025.

Sri Lanka’s vehicle tax system unfairly stacks VAT on VAT: Experts

Sri Lanka’s vehicle tax structure has come under renewed scrutiny, with tax experts warning that the imposition of the value added tax (VAT) on top of an already VAT-inclusive excise duty has resulted in a “tax on tax” scenario, making the system unfair and unnecessarily burdensome.

Aitken Spence delivers 124% profit surge

Aitken Spence PLC has delivered strong profit growth for the nine months ended despite external economic and geopolitical challenges.

Malaysia ready to offer visa-free travel to increase tourist arrivals from SL

While expressing keenness to extend possible visa-free travel for Sri Lankan tourists visiting Malaysia,

Justice Kodagoda pushes for ‘Chief Integrity Officers’ to tackle corporate corruption

Supreme Court Justice Yasantha Kodagoda, President’s Council (PC), has called on Sri Lanka’s corporates to appoint a ‘Chief Integrity Officer’ within their organisations to foster a culture of integrity and zero tolerance for bribery and corruption.

Sri Lanka’s only viable recovery avenue is to continue current IMF-backed path: Anura

President Anura Kumara Dissanayake stressed that Sri Lanka’s only viable path for recovery is to continue on the current International Monetary Fund (IMF)-backed path and to build up the economy on this foundation.

SriLankan Airlines plans fleet expansion to 50 aircrafts in five years

SriLankan Airlines plans to double its fleet to 50 aircrafts within five years as Sri Lanka targets US $10 billion in annual tourism revenue by the end of the decade.

Acuity Partners rebranded as HNB Investment Bank after full acquisition

Hatton National Bank PLC (HNB) yesterday announced the rebranding of Acuity Partners (Pvt) Ltd as HNB Investment Bank (Pvt) Ltd, following its complete acquisition of the securities firm.

Tourism sector hits new milestone with strong January arrivals

Sri Lanka’s tourism sector, having overcome multiple challenges over the past five years, has reached a new milestone, with tourist arrivals in January hitting an all-time high for the month.

Fresh boost for local SME sector with new national advisory committee

In an effort to address issues faced by local small and medium enterprises (SMEs), the Ministry of Finance announced this week the establishment of a national advisory committee.

JKH sees 4% EBITDA growth in 3Q25, driven by performance in key sectors

Premier blue chip, John Keells Holdings PLC (JKH) reported steady earnings growth in the third quarter, the financial year ending 2025 (3Q25), supported by improved performances across key sectors and a stabilising macroeconomic environment.

Import growth picks up as economy normalises

Sri Lanka’s imports raced in December last year to US$ 1,924.5 million, up 29.3 percent from the same month in 2023, reaching the highest monthly outflow for imports during 2024.

Colombo consumer prices fall 4.0% in deepening deflation

The consumer prices in the Colombo district fell 4.0 percent in the 12 months through January 2025, compared to the 1.7 percent decline in the prices in December 2024.

Sri Lanka raises renewable energy target to 100% in bold policy shift

Sri Lanka has set itself yet another ambitious goal, this time raising the renewable energy target from the current 70 percent to 100 percent, aiming for a complete transition to clean energy.

Current policy rate sufficient to bring inflation back to 5% target: CBSL

In line with widespread expectations, the Central Bank kept its Overnight Policy Rate (OPR) — its new key policy rate — at 8.00 percent at its first policy meeting of the year.

“Step up”: President tells private sector

President Anura Kumara Dissanayake delivered a strong message to Sri Lanka’s private sector yesterday, urging them to step up and play their part in uplifting the national economy, rather than leaving the entire burden of transformation on the government.

President Dissanayake sets ambitious export target of US $ 36bn by 2030

Sri Lanka’s export fraternity must intensify efforts to diversify its markets and product basket as President Anura Kumara Dissanayake has directed the industries and officials to work towards achieving an ambitious export revenue target of US $ 36 billion by 2030.