SenFin Research – News Updates – 3 May 2026

SL Govt. tackles another dispute over funds
The Sri Lankan government, hot on the heels of two financial misappropriations – the US$2.5 million Treasury heist and US$ 600,000 lost by Sri Lanka Post – has been able to deter what they believe to be the manipulation of World Bank project data and assets.
Source: (Sunday Times) https://www.sundaytimes.lk/260503/business-times/sl-govt-tackles-another-dispute-over-funds-640452.html

Sri Lanka seeks US$ 20m ADB seed capital
Sri Lanka is negotiating with the Asian Development Bank (ADB) to secure a new US$ 120 million credit line, along with grants, to set up the country’s first State-backed venture capital fund and concessional loan financing scheme for micro, small and medium enterprises (MSMEs), a top Government official told the Sunday Observer Business.
Source: (Sunday Observer) https://www.sundayobserver.lk/2026/05/03/business/76624/sri-lanka-seeks-us-20m-adb-seed-capital/

SLPA to expand CWIT capacity
The Sri Lanka Ports Authority (SLPA) has revealed plans to expand the capacity of the Colombo West International Terminal (CWIT) to 2.5 million Twenty-foot Equivalent Units (TEUs) by the end of 2026.
Source: (the morning) https://www.themorning.lk/articles/1d1CKDWqLMkNSjbzXVlt

SL’s apparel exports fell 8% in 1stQ 2026-JAAF
Sri Lanka’s apparel exports fell by 8 per cent in the first quarter of 2026 compared to last year, but the data is revealing specific opportunities where targeted policy action could turn things around, according to the Joint Apparel Association Forum (JAAF).
Source: (Sunday Times) https://www.sundaytimes.lk/260503/business-times/sls-apparel-exports-fell-8-in-1stq-2026-jaaf-640378.html

Fuel prices increased in Sri Lanka
Fuel prices have been increased with effect from midnight, according to the Ceylon Petroleum Corporation.
Source: (Newswire) https://www.newswire.lk/2026/05/02/fuel-prices-increased-in-sri-lanka-2/

Aircraft overflights drop due to ME conflict
The frequency of overflying aircraft through Sri Lankan airspace has declined following the outbreak of the Middle East conflict, resulting in a sharp drop in income generated by Airport and Aviation Services (Sri Lanka) Ltd.
Source: (the morning) https://www.themorning.lk/articles/Iszq3w7GMmfxUsAUPWz9

Sri Lanka considers lifting ban on Palm Oil
Palm oil, a key crop that has a market within the country, continues to import because there are “experts” that sell a myth to villages who in turn hold governments to ransom against its cultivation.
Source: (Sunday Times) https://www.sundaytimes.lk/260503/business-times/sri-lanka-considers-lifting-ban-on-palm-oil-640446.html

ADB team visits EDB
The Sri Lanka Export Development Board (EDB), in collaboration with the Asian Development Bank (ADB), is making significant progress in the formulation of the National Export Development Plan (NEDP) for the period 2026–2030.
Source: (Sunday Times) https://www.sundaytimes.lk/260503/business-times/adb-team-visits-edb-640354.html

When the financial rails cannot support the scale load
Sri Lanka’s banking and treasury fraud incidents of early 2026 are not failures of individual conduct. They are structural signals that the financial system’s control architecture is not yet calibrated for the transaction volumes that scale demands.
Source: (Sunday Observer) https://www.sundayobserver.lk/2026/05/03/business/76654/when-the-financial-rails-cannot-support-the-scale-load/

Powering through droughts and crises
Sri Lanka has lived with energy insecurities for decades. Today, the crisis is a structural problem that is no longer limited to mere episodes.
Source: (the morning) https://www.themorning.lk/articles/OcP8XDQq6ikI1QXh0tOq

The fraud was the easy part
Strip away the euphemisms and the institutional defensiveness, and the sequence of events is disarmingly simple.
Source: (the morning) https://www.themorning.lk/articles/vhYe5aJjQnv2X412MZqQ

SEC seeks more time to analyse proposals
The Securities and Exchange Commission of Sri Lanka (SEC) has revealed that it requires additional time to analyse the six proposals received for establishing the proposed commodity derivatives exchange in Sri Lanka.
Source: (the morning) https://www.themorning.lk/articles/hnBV6kbIuZ0run49gitP

3-month T-bill yield sees decline
Improved liquidity and positive market sentiment driven by ceasefire developments in the Middle East led to a decline in the yield of the three-month Treasury bill (T-bill) at last week’s mid-week auction, following an increase of over 66 basis points during the preceding five weeks.
Source: (the morning) https://www.themorning.lk/articles/d56KSEIZuUl4mlQwKTDK

IFC invests US$ 18m on WindForce solar project
The International Finance Corporation (IFC), a member of the World Bank Group, has entered into a partnership with WindForce PLC to develop Sri Lanka’s first utility-scale 100-megawatt (MW) solar power facility.
Source: (Sunday Observer) https://www.sundayobserver.lk/2026/05/03/business/76660/ifc-invests-us-18m-on-windforce-solar-project/

JXG debuts on CSE Main Board
Janashakthi Limited, operating as JXG (Janashakthi Group), marked the debut trading of its 500,000,000 ordinary voting shares on the Main Board of the Colombo Stock Exchange (CSE) on Wednesday (April 29) by ringing the ceremonial market opening bell on the CSE trading floor.
Source: (Sunday Observer) https://www.sundayobserver.lk/2026/05/03/business/76664/jxg-debuts-on-cse-main-board/

Colombo bets on Indian muscle
India’s Mumbai-based State-owned shipbuilding giant, Mazagon Dock Shipbuilders Limited (MDL), has acquired over a 51% stake in Colombo Dockyard PLC (CDPLC) for USD 26.8 million (INR 249.5 crore).
Source: (Sunday Observer) https://www.sundayobserver.lk/2026/05/03/business/76668/colombo-bets-on-indian-muscle/

Recovering fraudulent NDB funds is a distant dream
Most of the Rs. 13.2 billion NDB Bank fraud money is unlikely to be recovered, senior banking officials said. “None of the authorities is affirmatively confirming the chances of recovering this cash,” an official told the Sunday Times Business.
Source: (Sunday Times) https://www.sundaytimes.lk/260503/business-times/recovering-fraudulent-ndb-funds-is-a-distant-dream-640440.html

Under-fire NDB releases Q1’26 results after adjusting fraud impact
National Development Bank PLC (NDB) on Thursday released the results of its first quarter ending March 2026, after adjusting for the impact of the Rs.13.2 billion fraud reported last month.
Source: (Sunday Times) https://www.sundaytimes.lk/260503/business-times/under-fire-ndb-releases-q126-results-after-adjusting-fraud-impact-640397.html

Fraud at NDB: Suspense and Scandal in the Sector
The largest internal banking fraud in Sri Lanka’s financial history: a loss of Rs.13.2 billion, continues to cast a long shadow over one of the country’s premier sectors
Source: (Sunday Times) https://www.sundaytimes.lk/260503/business-times/fraud-at-ndb-suspense-and-scandal-in-the-sector-640393.html

Seylan Bank reports PAT of Rs.2.91bn in Q1’26
Seylan Bank has recorded a Profit Before Income Tax (PBT) of Rs.4,548 million in Q1 2026, against Rs.4,199 million reflecting a growth of 8.31 per cent.
Source: (Sunday Times) https://www.sundaytimes.lk/260503/business-times/seylan-bank-reports-pat-of-rs-2-91bn-in-q126-640411.html