SenFin Research – News Updates – 18 May 2026

Sri Lanka’s trade, export and FDI push lacks ambition and urgency, warns think tank
Sri Lanka’s trade, export, and foreign direct investment (FDI) agenda is suffering from a lack of ambition, urgency, and strategic coordination at a time when rival Asian economies are moving aggressively to secure investment and strengthen trade resilience, economic policy think tank Centre for a Smart Future (CSF) warned yesterday.
Source: (Daily FT) https://www.ft.lk/top-story/Sri-Lanka-s-trade-export-and-FDI-push-lacks-ambition-and-urgency-warns-think-tank/26-792026

Govt. imposes temporary 50% vehicle import surcharge to ease pressure on foreign reserves
The Finance Ministry has announced a temporary 50% surcharge on the applicable Customs Import Duty on imported vehicles, with the new measure coming into effect from 16 May as the Government moves to curb non-essential imports and ease pressure on foreign exchange reserves.
Source: (Daily FT) https://www.ft.lk/front-page/Govt-imposes-temporary-50-vehicle-import-surcharge-to-ease-pressure-on-foreign-reserves/44-792033

Extended Fund Facility: IMF Executive Board to consider combined reviews
The International Monetary Fund (IMF) has scheduled on 27 May 2026 for its Executive Board to decide on the fifth and sixth reviews of Sri Lanka’s Extended Fund Facility (EFF) programme.
Source: (the morning) https://www.themorning.lk/articles/hLJajxS1dm7mPI6AvmMZ

Tourism earnings in April plunge to lowest level since 2023
Sri Lanka’s tourism earnings fell sharply in April, with official data showing the sector’s foreign exchange inflows dropped to their lowest monthly level in nearly three years, underscoring mounting pressure from weaker arrivals, softer visitor spending, and global geopolitical uncertainty.
Source: (Daily FT) https://www.ft.lk/front-page/Tourism-earnings-in-April-plunge-to-lowest-level-since-2023/44-792031

Sri Lanka April tourism revenue nosedives 39 pct as ME crisis bites
Sri Lanka’s foreign exchange revenue from tourism in April 2026 plunged 38.8 percent from a year ago to US$157.1 million, the central bank said, quoting tourism promotion authority data.
Source: (economynext) https://economynext.com/sri-lanka-april-tourism-revenue-nosedives-39-pct-as-me-crisis-bites-271811/

CanCham SL targets CAD 5 Bn FDI with five-year strategic plan
The newly established Canadian Chamber of Commerce in Sri Lanka (CanCham SL) has formally commenced its operations with the approval and support of Global Affairs Canada.
Source: (Daily News) https://dailynews.lk/2026/05/18/business/996331/cancham-sl-targets-cad-5-bn-fdi-with-five-year-strategic-plan/

Oil touches 2-week high after drone attack on UAE nuclear power plant
Oil prices extended ‌gains on Monday as efforts to end the U.S.-Israeli war on Iran appeared to have stalled, after a nuclear power plant in the United Arab Emirates came under attack and as U.S. President Donald Trump is expected to discuss military options on Iran.
Source: (Reuters) https://www.reuters.com/business/energy/oil-rises-more-than-1-after-drone-attack-uae-nuclear-power-plant-2026-05-17/

EXPLAINER – How to reverse the decline of Sri Lanka’s Colombo Port
Adani Ports-controlled Colombo West International Terminal (CWIT) is a vision of the future.
Source: (economynext) https://economynext.com/explainer-how-to-reverse-the-decline-of-sri-lankas-colombo-port-271694/

Economists warn of soaring US dollar rate
Economists warn that if the Sri Lankan rupee continues to depreciate, fuel prices, electricity and water tariffs, as well as the prices of goods and services, could increase in the future.
Source: (the morning) https://www.themorning.lk/articles/Op05cQyNl5mRoockZodX

Exchange rate error: People’s Bank issues statement
State-owned People's Bank has identified an exchange rate error within one of its remittance systems that resulted in certain customers receiving excess payments over a nearly three-year period, the bank announced.
Source: (the morning) https://www.themorning.lk/articles/K2gXbUsrXH22U3qwlSlO

SLT-MOBITEL delivers strong revenue and profit growth in Q1 2026
The SLT Group reported a strong start to the year, posting double digit revenue growth and significantly higher profitability in the first quarter of 2026 compared to Q1 2025, driven by notable gains in operating profit and net earnings and a sustained demand for broadband (internet) services.
Source: (Daily News) https://dailynews.lk/2026/05/18/business/996328/slt-mobitel-delivers-strong-revenue-and-profit-growth-in-q1-2026/

Janashakthi Life powers ahead with 42% GWP growth to LKR 2.6Bn
Janashakthi Life, a leading brand in the insurance industry and a flagship brand of JXG (Janashakthi Group), commenced the financial year 2026 on a strong footing, delivering robust results across key financial and operational indicators for the quarter ended.
Source: (Daily News) https://dailynews.lk/2026/05/18/business/996341/janashakthi-life-powers-ahead-with-42-gwp-growth-to-lkr-2-6bn/

Amana Bank records best-ever PBT & PAT for Q1
Amana Bank continued to deliver a strong performance in Q1 2026, demonstrating resilience amidst a challenging economic environment impacted by the effects of Cyclone Ditwah and the instability in the Middle East.
Source: (Daily News) https://dailynews.lk/2026/05/18/business/996377/amana-bank-records-best-ever-pbt-pat-for-q1/

Dialog delivers strong 1Q 2026 financial performance
Dialog Axiata PLC Group has in the first quarter of FY26 delivered revenue growth of 9% year-on-year (YoY) on the back of strong performances in mobile, fixed, and digital pay television businesses as Group revenue reached Rs. 47.3 billion, despite the continued strategic scaling down of the low-margin international wholesale business.
Source: (Daily FT) https://www.ft.lk/front-page/Dialog-delivers-strong-1Q-2026-financial-performance/44-792034

Hayleys’ Dipped Products expands high-value glove manufacturing with Rs. 2.3 b investment
Dipped Products PLC (DPL), a subsidiary of Hayleys PLC, officially inaugurated a series of major capacity expansion projects at its Kottawa manufacturing facility recently, marking a significant step forward in supporting export growth alongside advancements in robotic automation, efficiency, and sustainability.
Source: (Daily FT) https://www.ft.lk/front-page/Hayleys-Dipped-Products-expands-high-value-glove-manufacturing-with-Rs-2-3-b-investment/44-792029

Ambeon Mandatory Offer for Harischandra Mills
Ambeon Essentials Ltd., a subsidiary of Ambeon Capital PLC, has announced the closure of its Mandatory Offer for Harischandra Mills PLC after securing acceptances representing a 51.11% controlling stake in the company.
Source: (Daily FT) https://www.ft.lk/front-page/Ambeon-Mandatory-Offer-for-Harischandra-Mills/44-792028