SenFin Research – News Updates – 16 May 2026

Sri Lanka has to compromise growth if it choses lower inflation target: CB Governor
Sri Lanka will have to compromise higher economic growth if it chooses to reduce the inflation target, Central Bank Governor Nandalal Weerasinghe told a Parliament Panel this week.
Source: (economynext) https://economynext.com/sri-lanka-has-to-compromise-growth-if-it-choses-lower-inflation-target-cb-governor-271755/

CBSL launches digital platform for banking, finance customer complaints
The Central Bank of Sri Lanka (CBSL) yesterday launched an online Complaint Management System (CMS) marking a significant step to facilitate the submission of complaints and grievances by customers of financial service providers (FSPs).
Source: (Daily FT) https://www.ft.lk/front-page/CBSL-launches-digital-platform-for-banking-finance-customer-complaints/44-792009

Weak Low Grown crop drags April tea production down 8.5%
Sri Lanka’s tea production declined sharply in April 2026, with weak Low Grown performance weighing on the national crop amid extremely dry weather conditions and reduced fertiliser application by smallholder farmers during the previous quarter.
Source: (Daily FT) https://www.ft.lk/front-page/Weak-Low-Grown-crop-drags-April-tea-production-down-8-5/44-792004

Govt. considers ending odd-even fuel distribution system
The Government is considering discontinuing the current odd-even fuel distribution system and increasing fuel quotas as part of adjustments to the national fuel management program, officials said following a high-level review meeting at the Prime Minister’s Office.
Source: (Daily FT) https://www.ft.lk/front-page/Govt-considers-ending-odd-even-fuel-distribution-system/44-792000

New tourism Act comes under industry fire
Warns relying on civil service pay scales prevent tourism institutions from attracting skilled professionals needed to compete with regional destinations
Source: (Daily FT) https://www.ft.lk/front-page/New-tourism-Act-comes-under-industry-fire/44-792007

Sri Lanka and Pakistan strengthen trade relations through business engagement
A business meeting between the Karachi Chamber of Commerce and Industry (KCCI) delegation and the Sri Lanka Export Development Board (EDB) was successfully held on 6 May at the EDB premises in Colombo, reaffirming the longstanding economic ties between Sri Lanka and Pakistan.
Source: (Daily FT) https://www.ft.lk/business/Sri-Lanka-and-Pakistan-strengthen-trade-relations-through-business-engagement/34-791990

Sri Lanka Embassy in Türkiye explores trade and investment cooperation with Istanbul Chamber of Commerce
In a bid to expand Sri Lanka’s economic ties with the leading stakeholders in Türkiye, Sri Lankan Ambassador to Türkiye Niluka Kadurugamuwa, with his official delegation, met with Istanbul Chamber of Commerce President Şekib Avdagiç recently at the Chamber’s headquarters in Istanbul.
Source: (Daily FT) https://www.ft.lk/business/Sri-Lanka-Embassy-in-T%C3%BCrkiye-explores-trade-and-investment-cooperation-with-Istanbul-Chamber-of-Commerce/34-791992

Sri Lanka, Belarus to cooperate on health care, education, aviation
Sri Lanka has signed agreements with Belarus on bilateral cooperation in health care and education, and a bilateral Air Services Agreement, foreign minister Vijitha Herath said.
Source: (economynext) https://economynext.com/sri-lanka-belarus-to-cooperate-on-health-care-education-aviation-271664/

Its official, PayPal is here
After more than a decade of discussions, and week of speculation, the Government yesterday officially announced the launch of PayPal services in Sri Lanka, marking a significant development in the country’s digital economy and cross-border payments landscape.
Source: (Daily FT) https://www.ft.lk/top-story/Its-official-PayPal-is-here/26-792011

Rupee weakens to lowest since Dec. 2023
Amid the global shipping crunch resultant energy and fertiliser shocks, the rupee weakened further against the US Dollar yesterday, with the Central Bank’s selling rate crossing the Rs. 331 mark for the first time since December 2023.
Source: (Daily FT) https://www.ft.lk/front-page/Rupee-weakens-to-lowest-since-Dec-2023/44-792006

EXPLAINER – Ripple effect of sharp depreciation of Sri Lanka rupee
The recent sharp decline of the Sri Lanka Rupee (LKR) over the past month has reignited anxieties reminiscent of the 2022 financial collapse.
Source: (economynext) https://economynext.com/explainer-ripple-effect-of-sharp-depreciation-of-sri-lanka-rupee-271570/

No spot quote for Sri Lanka rupee; bond yields steady
There was no spot quote for Sri Lanka’s rupee on Friday after trades at 325.10 (low) and 326.00 (high) to the dollar in the day, dealers said, while bond yields closed broadly steady.
Source: (economynext) https://economynext.com/no-spot-quote-for-sri-lanka-rupee-bond-yields-steady-271743/

Sri Lanka stocks close flat on Friday, capital goods lead turnover
Sri Lanka’s Colombo Stock Exchange closed flat on Friday, CSE data showed, with the benchmark All Share Price Index moving up a marginal 0.03 percent.
Source: (economynext) https://economynext.com/sri-lanka-stocks-close-flat-on-friday-capital-goods-lead-turnover-271717/

BOC posts Rs. 28.8 b PBT in 1Q
State banking giant Bank of Ceylon (BOC) commenced 2026 with a solid financial performance, recording a Profit After Tax (PAT) of Rs. 18.8 billion for the three months ended 31 March 2026.
Source: (Daily FT) https://www.ft.lk/front-page/BOC-posts-Rs-28-8-b-PBT-in-1Q/44-792010

HNBGI: Primed for strategic growth after record-breaking 2025 performance
Following its landmark achievement of reaching a Gross Written Premium (GWP) of Rs. 11 billion in 2025, HNB General Insurance (HNBGI) enters Financial Year 2026 (FY2026) with a revitalised strategic roadmap.
Source: (Daily FT) https://www.ft.lk/business/HNBGI-Primed-for-strategic-growth-after-record-breaking-2025-performance/34-791989

Dialog Axiata Q1 net profit more than doubles to Rs.9.2bn
Sri Lanka’s Dialog Axiata, a leading telecommunications company, posted a net profit of of Rs.9.2 billion for the quarter ended March 31, 2026, marking a 122.3% increase from Rs.4.1 billion recorded in the same period of 2025.
Source: (economynext) https://economynext.com/dialog-axiata-q1-net-profit-more-than-doubles-to-rs-9-2bn-271692/