SenFin Research – News Updates – 28 April 2026

Fuel import costs surge beyond pricing, exposing structural gap energy model
Sri Lanka’s fuel import framework is under strain as global price movements and supply disruptions push costs well beyond domestic pricing, raising questions over the sustainability of the current model.
Source: (Daily FT) https://www.ft.lk/front-page/Fuel-import-costs-surge-beyond-pricing-exposing-structural-gap-energy-model/44-791193

Goldman Sachs raises oil price forecast again
Goldman Sachs once again raised its outlook for oil prices, now seeing Brent crude at an average of $ 90 per barrel in the fourth quarter of the year, and West Texas Intermediate at $ 83 per barrel.
Source: (the morning) https://www.themorning.lk/articles/aqK2SKFpFxQcAeKs8nvx

Sri Lanka apparel sector maps recovery path despite Q1 export decline
Sri Lanka’s apparel industry has identified a series of targeted policy measures to revive growth after exports fell by 8% in the first quarter of 2026, reflecting both global headwinds and rising domestic costs
Source: (Daily News) https://dailynews.lk/2026/04/28/business/985818/sri-lanka-apparel-sector-maps-recovery-path-despite-q1-export-decline/

Sri Lanka’s services, exports maintain growth momentum despite March dip
Sri Lanka’s services export sector continued to demonstrate resilience in the first quarter of 2026, recording steady growth despite a moderate decline in March, according to data from the .
Source: (Daily News) https://dailynews.lk/2026/04/28/business/985841/sri-lankas-services-exports-maintain-growth-momentum-despite-march-dip/

Tourism success questioned as Sri Lanka leans on volume over value
Sri Lanka’s tourism sector recorded a historic 2.3 million international arrivals in 2025 but the industry analysts are urging a pivot in how success is measured within the island’s economic framework.
Source: (Daily Mirror) https://www.dailymirror.lk/business-main/Tourism-success-questioned-as-Sri-Lanka-leans-on-volume-over-value/245-338891

Govt. cash surplus due to overborrowing, says Verité
Sri Lanka’s improved Treasury liquidity masks a weaker fiscal position, with cash balances swinging from a deficit of Rs. 832 billion in 2022 to a surplus exceeding Rs. 1.2 trillion by August 2025, driven by Rs. 1.78 trillion in excess borrowing that has raised the interest burden on unused funds, Verité Research warned.
Source: (Daily FT) https://www.ft.lk/front-page/Govt-cash-surplus-due-to-overborrowing-says-Verit%C3%A9/44-791194

Sri Lanka discusses measures to broaden tax net, recover tax arrears
Sri Lanka President Anura Kumara Dissanayake and top officials at the island nation’s Department of Inland Revenue discussed ways to broaden the tax net, maximise tax compliance, and recover outstanding tax arrears, the President’s Media Division (PMD) said in a statement.
Source: (economynext) https://economynext.com/sri-lanka-discusses-measures-to-broaden-tax-net-recover-tax-arrears/-/268884/

Cyberhack investigation: Details too premature to ascertain those involved, lapses
Details regarding the investigation into the $2.5 million Treasury cyberheist – which allegedly involve the breaching of a computer system at the Ministry of Finance – are too premature to ascertain those who had been involved in the crime, and what other technical or administerial breakdowns may have led to the incident, Deputy Minister of Finance and Planning Anil Jayantha Fernando said, speaking to media yesterday (27).
Source: (the morning) https://www.themorning.lk/articles/PISp3McG2tqj9yApgx2V

Money circulation crosses Rs 1.56 Tn mark in 2025
According to the latest financial reports released by the Central Bank of Sri Lanka (CBSL), there has been a significant increase in the amount of money circulating in the country’s economy. The data reports confirm that the total amount of money in circulation has crossed the 1.5 trillion rupee mark in 2025 compared to 2024.
Source: (Daily News) https://dailynews.lk/2026/04/28/business/985858/money-circulation-crosses-rs-1-56-tn-mark-in-2025/

Sri Lanka’s budget almost in surplus in January 2026 as currency trouble triggered
Sri Lanka’s budget turned almost to surplus in January 2026 with a gap of only 3.8 billion rupees, after the deficit collapsed in 2025 turning the current account into surplus, but the central bank depreciated the rupee pushing up the cost of living.
Source: (economynext) https://economynext.com/sri-lankas-budget-almost-in-surplus-in-january-2026-as-currency-trouble-triggered/-/268752/

Sri Lanka rupee closes at 318.00/25 to US dollar
Sri Lanka’s rupee closed at around 318.00/25 to the US dollar in the spot market, with some interventions, while there was some activity in the spot next, dealers said.
Source: (economynext) https://economynext.com/sri-lanka-rupee-closes-at-318-00-25-to-us-dollar/-/268859/

Sri Lanka stocks close up, boosted by retail activity
Sri Lanka’s Colombo Stock Exchange closed up on Monday, pushed by some retail activity brokers said.
Source: (economynext) https://economynext.com/sri-lanka-stocks-close-up-boosted-by-retail-activity/-/268863/

Pan Asia Bank partners Softlogic Life offers Int’l Health Insurance for premier customers
Pan Asia Bank announces a strategic bancassurance partnership with Softlogic Life Insurance PLC, Sri Lanka’s leading health insurance provider, to offer an exclusive International Health Insurance solution tailored for its Privilege Banking segment.
Source: (Daily News) https://dailynews.lk/2026/04/28/business/985742/pan-asia-bank-partners-softlogic-life-offers-intl-health-insurance-for-premier-customers/

Browns Beach Hotels ends trading on CSE
Browns Beach Hotels PLC (BBH) ended trading on the Colombo Stock Exchange yesterday ( 27) with suspension effective from today . The voluntary delisting follows sustained losses since 2019, a negative net asset position, and failure to meet CSE listing rules, including minimum public holding. Minority shareholders are offered a voluntary exit price of LKR 30.00 per share. BBH cited sustained losses, a weak outlook for profitability and continued non-compliance with listing requirements.
Source: (Daily News) https://dailynews.lk/2026/04/28/business/985882/browns-beach-hotels-ends-trading-on-cse/

Abans Finance debenture issue draws Rs. 1.31 billion subscriptions
Abans Finance PLC’s initial Rs. 1 billion debenture issue was oversubscribed attracting subscriptions worth Rs. 1.31 billion.
Source: (Daily FT)https://www.ft.lk/financial-services/Abans-Finance-debenture-issue-draws-Rs-1-31-billion-subscriptions/42-791178

WindForce secures $ 18 m IFC loan to fund solar, storage expansion
WindForce PLC yesterday said it has secured a loan facility of up to $ 18 million from the World Bank Group’s International Finance Corporation (IFC), in a move expected to strengthen its renewable energy expansion pipeline and funding structure.
Source: (Daily FT) https://www.ft.lk/front-page/WindForce-secures-18-m-IFC-loan-to-fund-solar-storage-expansion/44-791192

JXG shares to trade tomorrow
Latest entrant to the Colombo Stock Exchange (CSE), Janashakthi Ltd., (JXG) will begin trading tomorrow (29) following the successful Initial Public Offering (IPO) recently.
Source: (Daily FT) https://www.ft.lk/front-page/JXG-shares-to-trade-tomorrow/44-791191

Colombo Dockyard shifts year end to March
Colombo Dockyard PLC yesterday said it has received the regulatory approvals to change its financial year-end to March from December.
Source: (Daily Mirror) https://www.dailymirror.lk/business-news/Colombo-Dockyard-shifts-year-end-to-March/273-338885

NDB replaces EY with KPMG in line with audit rotation requirement
National Development Bank PLC (NDB) has moved to appoint KPMG as its external auditor for the 2026 financial year, replacing Ernst & Young (EY), in a change driven by the Central Bank-mandated rotation rules but coming at a time of intensified scrutiny, following the bank’s recent fraud disclosure.
Source: (Daily Mirror) https://www.dailymirror.lk/business-news/NDB-replaces-EY-with-KPMG-in-line-with-audit-rotation-requirement/273-338887

Historic Rs. 5 billion IPO: Janashakthi Limited clarifies non-retail share allotments
The Janashakthi IPO was a landmark event for the local capital market, valued at over Rs. 5 billion, making it the largest IPO on the CSE in the last 14 years. The company emphasised that the success of the issue was critical not only for the firm but also for broader market sentiment.
Source: (the morning) https://www.themorning.lk/articles/QDWEXX7ZIKcfBRrm9qqK