The Planters’ Association of Ceylon (PA), the apex body of Sri Lanka’s plantation industry, expressed growing concern over rising prices and limited availability of fertilizer amid the escalation of the crisis in the Middle East. With the closure of the Strait of Hormuz, shipping traffic through the region is reported to have dropped by 90%….
Fitch Ratings has downgraded National Development Bank PLC’s (NDB) National Long-Term Rating to ‘A-(lka)’ from ‘A(lka)’. The Outlook is Negative. Fitch has also downgraded the rating assigned to NDB’s Basel III-compliant subordinated debentures to ‘BBB(lka)’ from ‘BBB+(lka)’. Key Rating Drivers Fraud Elevates Credit Profile Risks: The downgrade reflects NDB’s weakened credit profile relative to that…
Sri Lanka could face renewed food inflation pressures as global fertilizer prices surge sharply amid the ongoing Middle East conflict, a senior economist from the Asian Development Bank (ADB) warned today (10). Addressing the launch of the Asian Development Outlook – April 2026 in Colombo, Ms. Liliya Aleksanyan highlighted that non-energy commodity prices, particularly fertilizers…
The cost of a traditional kevili table for the Sinhala and Tamil New Year has risen by 7%in 2026 compared to 2025. A kevili table, a customary feature during New Year celebrations in Sri Lanka, includes an assortment of traditional sweetmeats symbolising prosperity and happiness. In 2026, prices increased for six of the eight items included in the kevili table. The sharpest rise was recorded in aluwa which increased by 25.8% driven by a 43.6% increase in…
The Committee on Public Finance (CoPF) met on 07th April 2026 under the chairmanship of Hon Member of Parliament Dr. Harsha de Silva. The Governor of the Central Bank of Sri Lanka (CBSL) Dr. Nandalal Weerasinghe, along with members of the Governing Board, the Monetary Policy Board, and senior officials, attended the meeting as part…
Sri Lanka’s economic growth is expected to moderate to 4.0% in 2026 and climb to 4.2% in 2027, following two consecutive years of strong 5.0% growth. This forecast is based on an early stabilization scenario for the Middle East conflict, according to the Asian Development Outlook (ADO) April 2026, Asian Development Bank’s (ADB) flagship economic publication….
Economic growth in developing Asia and the Pacific is expected to slow to 5.1% in both 2026 and 2027, from 5.4% last year, weighed down by the conflict in the Middle East and continuing trade uncertainty, according to the latest forecasts by the Asian Development Bank (ADB). Regional inflation is projected to rise to 3.6%…
Hayleys Solar, Sri Lanka’s No.1 solar solutions provider, has successfully completed an 800kW rooftop installation for London Stock Exchange Group (LSEG), marking a significant milestone in the country’s corporate renewable energy landscape. Delivered within an impressive two-month period, the installation covers six buildings and features 1,412 high-efficiency solar panels. The system is expected to generate…
JXG, the well-established financial conglomerate comprising Janashakthi Insurance PLC, First Capital Holdings PLC, and Janashakthi Finance PLC, successfully concluded its Initial Public Offering (IPO), which opened for subscription on 9th April 2026. The issue was oversubscribed on the opening day and closed on the same day, reflecting the strong confidence and trust placed by investors…
The main opposition Samagi Jana Balawegaya (SJB) appears to have stayed away from recent discussions between Sri Lanka’s Parliament and an International Monetary Fund (IMF) delegation, despite invitations being extended to all political parties. Responding to a question raised by Ada Derana during a media briefing today (09), IMF Mission Chief to Sri Lanka Evan…
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