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...
ECONOMYNEXT – The Colombo Stock Exchange closed up on Wednesday, data from CSE showed. The All Share was up 0.60 percent, or 132.82 points at 22,261.48. The S&P SL20 was up 0.57 percent, or 35.02 points at 6,187.75. Ceylinco Holdings (up 4.76 percent at Rs.3248.25), Melstacorp (up 1.41 percent at Rs.180.00), Hatton National Bank (up […]
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...
ECONOMYNEXT – Sri Lanka is facing a demographic shift with a shrinking workforce and a looming elderly care crisis, preliminary data from the 15th Census of Population and Housing showed. The census, conducted by the Department of Census and Statistics (DCS) using 35,000 enumerators equipped with tablets and smartphones, fixed the national population at 21,763,170. […]
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...
