SenFin Research – News Updates – 26 April 2026

India–Sri Lanka ETCA: Time to expedite the deal
The trade relationship between India and Sri Lanka dates back to antiquity, with maritime links recorded for over two millennia.
Source: (Sunday Observer) https://www.sundayobserver.lk/2026/04/26/business/76242/india-sri-lanka-etca-time-to-expedite-the-deal/

Central Bank in fresh explanation of controversial Treasury Bond issue
The Central Bank (CB) and its Governor Arjuna Mahendran, under attack over a controversial bond issue in February, took the bull by the horns on Wednesday in a lengthy defence of that bond issue.
Source: (Sunday Times) https://www.sundaytimes.lk/150816/business-times/central-bank-in-fresh-explanation-of-controversial-treasury-bond-issue-160528.html

Emerging Asia could face increased food-cost pressures – Fitch Ratings
Fitch Ratings-Singapore/Hong Kong, April 23: Emerging markets in Asia would see rising cost pressure across agribusiness and food supply chains if a prolonged US-Iran war pushes fertiliser supply disruption deeper into the planting season, Fitch Ratings said.
Source: (Sunday Observer) https://www.sundayobserver.lk/2026/04/26/business/76227/emerging-asia-could-face-increased-food-cost-pressures-fitch-ratings/

Fuel supply secured till June – CPC
The Ceylon Petroleum Corporation (CPC) has stepped up efforts to strengthen the country’s fuel security by combining long-term supply contracts with spot market purchases, officials said yesterday as global energy markets remain volatile amid ongoing Middle East tensions.
Source: (Sunday Observer) https://www.sundayobserver.lk/2026/04/26/chamikara-weerasinghe/76409/fuel-supply-secured-till-june-cpc/

Tea prices rise despite loss of Iranian market
Tea prices at Sri Lanka’s local auctions have risen above pre-crisis levels despite a significant drop in export volumes and a complete halt in exports to Iran, according to the Sri Lanka Tea Board (SLTB).
Source: (the morning) https://www.themorning.lk/articles/Cj821tNt4PfWRhkbyNYp

Customs drafts new e-commerce regulations
Sri Lanka Customs has commenced drafting new regulations to govern the clearance of e-commerce goods, which will be submitted to the Minister of Finance to be published in the gazette once completed.
Source: (the morning) https://www.themorning.lk/articles/jSrq1YwZJ7fhPsMRCNTd

Apparel exporters positive on regaining EU GSP+
Apparel exporters were positive about reaping the benefits of EU GSP + concessions next year should everything go according to plan following the UN Human Rights Council (UNHRC) sessions in September. On Tuesday, Prime Minister Ranil Wickremesinghe told the industry that the much-awaited GSP + concessions would be a reality next year.
Source: (Sunday Times) https://www.sundaytimes.lk/150816/business-times/apparel-exporters-positive-on-regaining-eu-gsp-160537.html

When arrivals fall, scale thinking must rise
The numbers released by the Sri Lanka Tourism Development Authority (SLTDA) on April 18 are precise and unambiguous.
Source: (Sunday Observer) https://www.sundayobserver.lk/2026/04/26/business/76233/when-arrivals-fall-scale-thinking-must-rise/

Big banks dominate, small lenders marginalized
The Central Bank of Sri Lanka (CBSL) last week released its Financial Statements and Operational Report for 2025.
Source: (Sunday Observer) https://www.sundayobserver.lk/2026/04/26/business/76240/big-banks-dominate-small-lenders-marginalised/

LPG price rise still inadequate – Advocata
Colombo-based independent policy think tank, the Advocata Institute, which advocates economic development through free markets, has welcomed the recent Liquefied Petroleum Gas (LPG) price increase by Litro Gas Lanka.
Source: (Sunday Observer) https://www.sundayobserver.lk/2026/04/26/business/76273/lpg-price-rise-still-inadequate-advocata/

What the ME crisis means for SL’s labour stability
Sri Lanka’s heavy reliance on the Middle East for foreign employment places its labour market in a vulnerable position if tensions in the region continue.
Source: (the morning) https://www.themorning.lk/articles/m19D5wSXmMCLpNjoj53Q

Should the country import skilled workers?
The Chamber of Construction Industry’s (CCI) request recently to import around 7,500 workers to meet the urgent demand for construction work has sent a ripple of excitement through the corridors of the Government, Tertiary Vocational Education Commission (TVEC), heavy-engineering companies and unemployed youth at large.
Source: (Sunday Observer) https://www.sundayobserver.lk/2026/04/26/business/76221/should-the-country-import-skilled-workers/

Hackers exploit system logic, not just networks
The recent cyber incident involving the Finance Ministry and the diversion of a US$ 2.5 million foreign debt repayment is understandably dominating headlines.
Source: (Sunday Observer) https://www.sundayobserver.lk/2026/04/26/business/76279/hackers-exploit-system-logic-not-just-networks/

Sri Lanka banks simultaneously warn customers of account hacking by look-alike websites
Multiple Sri Lanka banks are alerting customers from yesterday on attempts to by hackers to direct them to fake websites where credentials can be stolen and their accounts wiped clean of cash.
Source: (economynext) https://economynext.com/sri-lanka-banks-simultaneously-warn-customers-of-account-hacking-by-look-alike-websites/-/268637/

“Building the Skills for Economic Growth and Competitiveness in Sri Lanka”
In the past few decades, despite facing a number of difficulties, Sri Lanka has made relatively strong progress in economic growth and reduction of unemployment. From the year 2000 to 2014, GDP at current market prices increased from US$16 billion to $75 billion, per capita GDP increased from $869 to $3625 while the unemployment rate reduced from 7.6 per cent to 4.3 per cent.
Source: (Sunday Times) https://www.sundaytimes.lk/150816/business-times/building-the-skills-for-economic-growth-and-competitiveness-in-sri-lanka-160533.html

Fitch affirms 7 Sri Lankan finance companies
Fitch Ratings has affirmed the ratings of People’s Leasing & Finance PLC (PLC), Central Finance Company PLC (CF), Melsta Regal Finance Ltd (MRF), Siyapatha Finance PLC (Siyapatha), Senkadagala Finance PLC (Senka), AMW Capital Leasing and Finance PLC (AMC) and Singer Finance PLC (SFL).
Source: (Sunday Times) https://www.sundaytimes.lk/150816/business-times/fitch-affirms-7-sri-lankan-finance-companies-160502.html

Hemas posts earnings growth of 68.2 per cent
Hemas Group said this week that group revenue rose by 22.9 per cent to Rs. 8.8 billion in first quarter 2015/16. Earnings stood at Rs. 415 million.
Source: (Sunday Times) https://www.sundaytimes.lk/150816/business-times/hemas-posts-earnings-growth-of-68-2-per-cent-160474.html

Hayleys profits up in Q1
Hayleys PLC recorded a 9 per cent increase in pre-tax profits (PBT) for the quarter ending June at Rs. 1.2 billion, the company said this week.
Source: (Sunday Times) https://www.sundaytimes.lk/150816/business-times/hayleys-profits-up-in-q1-160509.html

Singer revenue up 28 % at Rs. 18 bln in 1stH2015
Singer Sri Lanka recorded Rs. 18 billion in revenue in first half 2015, up by 28 per cent from the first half of the 2014 year.
Source: (Sunday Times) https://www.sundaytimes.lk/150816/business-times/singer-revenue-up-28-at-rs-18-bln-in-1sth2015-160472.html

Hayleys Rs. 9 billion rights issue oversubscribed
Diversified conglomerate Hayleys PLC’s Rs. 9 billion rights issue has been oversubscribed by over Rs. 2 billion, reflecting strong investor confidence in the Group’s financial strength and growth prospects.
Source: (Sunday Observer) https://www.sundayobserver.lk/2026/04/26/business/76276/hayleys-rs-9-billion-rights-issue-oversubscribed/

Mazagon routes Indian retrofit orders to Colombo Dockyard
Colombo Dockyard PLC (CDPLC) is set to boost Sri Lanka’s export earnings from the shipbuilding sector, supported by a strategic majority stake held by Mazagon Dock Shipbuilders Limited (MDL), alongside a new order book from France and India, its MD/CEO, Thimira S. Godakumbura, told Sunday Observer Business.
Source: (Sunday Observer) https://www.sundayobserver.lk/2026/04/26/business/76261/mazagon-routes-indian-retrofit-orders-to-colombo-dockyard/

Fraud probe: NDB appoints Deloitte India
The National Development Bank (NDB) has appointed Deloitte Touche Tohmatsu India LLP to conduct an independent forensic review into the Rs. 13.2 billion fraud, according to a stock exchange filing.
Source: (Sunday Observer) https://www.sundayobserver.lk/2026/04/26/business/76256/fraud-probe-ndb-appoints-deloitte-india/

Banking sector challenging, severe competition amidst slower-than-expected credit growth, says NDB
Sri Lanka’s banking sector was challenging with credit growth slower than anticipated and severe competition posed by a large number of banking and non-banking institutions, NDB Bank Group said in revealing its financial results for first half 2015.
Source: (Sunday Times) https://www.sundaytimes.lk/150816/business-times/banking-sector-challenging-severe-competition-amidst-slower-than-expected-credit-growth-says-ndb-160445.html

Browns Beach Hotels Group profits
Profits dipped at Browns Beach Hotels Group compared to the previous year, financial results released by the organisation stated.
Source: (Sunday Times) https://www.sundaytimes.lk/150816/business-times/browns-beach-hotels-group-profits-dip-160435.html

JXG IPO draws strong investor demand
Janashakthi Group’s (JXG) Initial Public Offering was oversubscribed more than three times on its opening day, signalling robust investor appetite despite a volatile global backdrop.
Source: (Sunday Observer) https://www.sundayobserver.lk/2026/04/26/business/76285/jxg-ipo-draws-strong-investor-demand/

Sri Lanka’s Janashakthi clarifies preferential share allotment
Sri Lanka’s Janashakthi has issued a market announcement, after being asked by the Colombo Stock Exchange, addressing criticisms on the share allotment following its recently concluded initial public offering.
Source: (economynext) https://economynext.com/sri-lankas-janashakthi-clarifies-preferential-share-allotment/-/268611/