Union Bank continues to transform digital banking for businesses with the introduction of a simplified virtual deposit card to support bulk deposits through Cash Deposit Machines (CDMs). The new facility is designed to support any business entity from corporates to SMEs and proprietors who regularly carry out high volume cash deposits during anytime of the...
The Intergovernmental Group of Twenty-Four (G-24) has warned that escalating global risks, including geopolitical tensions, rising inflation, and tighter financial conditions could undermine fragile economic recoveries in developing countries such as Sri Lanka. In a communiqué issued following its meeting on April 14, 2026, on the sidelines of the IMF-World Bank Spring Meetings in Washington,...
Reuters - The International Monetary Fund cut its growth outlook on Tuesday (14) due to Middle East war-driven energy price spikes but said the world was already drifting toward a more adverse scenario with much-weaker growth as Strait of Hormuz shipping disruptions continue. With massive uncertainty over the Middle East conflict gripping finance officials gathered for...
The Heads of the International Energy Agency, International Monetary Fund, and World Bank Group met today as part of the coordination group they established in early April to maximize their institutions' response to the energy and economic impacts of the war in the Middle East. At the end of their meeting, they issued the following...
Markets have been broadly orderly so far-but financial stability risks are elevated Global financial markets entered 2026 from a position of strength. Asset prices rose across major markets, volatility was subdued, and financial conditions were easy by historical standards. That benign backdrop has now been tested by the war in the Middle East. So far,...
Mahindra Ideal Finance Ltd (MIFL) recently marked the official listing of its inaugural debentures and debut listing on the Colombo Stock Exchange (CSE) with a bell ringing and market opening ceremony held at the CSE trading floor, symbolising a key milestone in the company's capital market journey and its commitment to transparency and strong governance....
Reuters - The U.S. military began a blockade of Iran's ports, angering Tehran and adding uncertainty around the crucial waterway, although hopes for dialogue to end the war provided some relief to oil markets where benchmark prices fell below $100 on Tuesday. After a breakdown of weekend talks in Islamabad between the two adversaries, a U.S. official...
Hambantota International Port (HIP) received LPG vessel ANDOVER on 4th April, which discharged approximately 7,000 metric tonnes (MT) of liquefied petroleum gas consigned to Laugfs Gas. The consignment, marking the port's first gas shipment of 2026, is sufficient to supply an estimated 570,000 domestic households. The LPG tanker, which arrived from Argentina, carrying the first...
Adda247 - Mundra Port has emerged as India's largest automobile export hub, setting a national record by shipping 6,008 cars in a single vessel. Operated by Adani Ports and Special Economic Zone, this milestone highlights India's growing automobile export strength and improved logistics efficiency. Mundra Port has emerged as the India's largest automobile export hub. As...
Evolution Auto, Sri Lanka's largest electric vehicle portfolio provider, has successfully deployed a purpose-built electric vehicle (EV) fleet for Radisson Hotels Sri Lanka, marking a significant step forward in integrating sustainable mobility into large-scale hospitality operations. This collaboration strengthens Radisson's commitment to embedding sustainability into its daily operations, not as a symbolic endeavor, but as...
The 2029 Annual Meetings of the World Bank Group and International Monetary Fund will take place in Abu Dhabi, United Arab Emirates, in October 2029, as decided in a vote by the Boards of Governors of the two institutions. The last time the Annual Meetings were held in the UAE was in 2003, when they...
National Development Bank PLC - Subsequent Update on Internal Fraud The Central Bank of Sri Lanka (CBSL) wishes to inform the public that it has been closely monitoring developments relating to National Development Bank PLC (NDB) following the recent disclosure of an internal fraud. Based on assessments carried out thus far, NDB continues to operate...
In a significant commitment of support to efforts to modernise Sri Lanka's public passenger transport system, the Commercial Bank of Ceylon has partnered with NCG Express to introduce fully digital bus ticketing, enabling passengers to pay fares using cards, QR-based payments and contactless technology. The collaboration supports the Government's Digital Ticketing Initiative and marks one...
In a remarkable demonstration of academic excellence and research capability, four graduates of the SLIIT Business School have transformed their final-year thesis into four Q1-ranked, Scopus-indexed international journal publications - an achievement rarely seen at the undergraduate level, both in Sri Lanka and internationally. The studies were carried out under the academic supervision of Prof....
LankaPay, the Sri Lanka Tourism Development Authority (SLTDA) and Alipay+ have entered into a strategic collaboration to enhance Sri Lanka's tourism appeal and drive international visitor arrivals, particularly from Asia and the wider Asia-Pacific (APAC) region. The collaboration leverages the strength of the global ecosystem of Alipay+, Ant International's unified wallet gateway, enabled locally through...
Deloitte Sri Lanka hosted a leadership briefing for Corporate Business Leaders and Human Resource Professionals of Non-Bank Financial Institutions (NBFIs) to mark the official launch of the Non-Bank Financial Institutions Sector Compensation & Benefits Survey 2025 report. The first NBFI sector focused pay survey in Sri Lanka by Deloitte, highlights how companies are responding to...
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%....
Sri Lanka Insurance Life Ltd (SLICLL) and Sri Lanka Insurance General Ltd (SLICGL) together appointed 112 Trainee Insurance Assistants, marking one of the largest recruitments across both companies in recent years. Of the total intake, 87 candidates joined SLICGL while 25 candidates were appointed to SLICLL. This recruitment reflects the continued efforts of both companies...
Minasro College marked a significant milestone in its educational journey with the opening of its newest branch in Mathugama on March 12, 2026. The expansion reflects the institution's ongoing commitment in providing quality education for the growing demand from the parents in the region. The decision to establish the Mathugama branch followed repeated requests from...
CeylonEat.com is redefining Sri Lanka's hospitality and dining landscape with a next-generation digital platform that seamlessly integrates online reservations and instant payments. Diners can effortlessly discover, reserve, and pay for curated experiences including buffets, high tea, brunch, and fine dining across leading luxury hotels and premium restaurants, all within a single platform. Through CeylonEat.com, users...
A large-scale medical and legal community service camp, targeting over 500 individuals, was held on March 28 from 8:00 a.m. to 4:00 p.m. at Dharmasoka College, Ambalangoda, with Royal Nursing Home (Pvt) Ltd. as the Platinum Sponsor. The initiative was organized by the Ceylon Excellence Lions Club of Colombo with the STEMI Forum, the Sri...
The much-anticipated 41st Edition of the Colombo Shopping Festival (CSF) - Avurudu Fair was ceremonially declared open yesterday at the BMICH Exhibition Centre, marking the beginning of five exciting days of festive shopping in celebration of the Sinhala and Tamil New Year.The ceremonial opening commenced with the traditional lighting of the oil lamp on 8th...
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...
