SenFin Research – News Updates – 6 May 2026

Sri Lanka Customs’ April revenue exceeds target over 30%
Sri Lanka Customs exceeded its April target by 30.5%, while revenue in the first four months jumped around 50 percent compared to the same period last year, official data showed.
Source: (economynext) https://economynext.com/sri-lanka-customs-april-revenue-exceeds-target-over-30/-/269962/

IMF omission of Sri Lanka GDP projections signals fragile recovery, economist says
Sri Lanka’s absence from the Real GDP growth projection in the IMF’s World Economic Outlook (April 2026), highlights its ongoing struggle to transition from short-term crisis management to long-term economic transformation, Ganeshan Wignaraja, former Director of Research at the ADB Institute, Tokyo, has said.
Source: (economynext) https://economynext.com/imf-omission-of-sri-lanka-gdp-projections-signals-fragile-recovery-economist-says/-/270004/

Sri Lanka construction activity expands at slower rate in March 2026: PMI
Sri Lanka’s construction sector activity continued to expand in March 2026, registering an index value of 57.1, a much slower rate than the previous month’s 70.3, according to a Purchasing Managers Index compiled by the central bank.
Source: (economynext) https://economynext.com/sri-lanka-construction-activity-expands-at-slower-rate-in-march-2026-pmi/-/270175/


Treasury laid bare in Parliament over $ 2.5 m heist
The Government yesterday backed down and agreed to a Parliamentary debate on the $ 2.5 million Treasury cyber theft after rejecting the Opposition’s request last week, following a tense standoff in the House that forced a reversal.
Source: (Daily FT) https://www.ft.lk/top-story/Treasury-laid-bare-in-Parliament-over-2-5-m-heist/26-791532

$ 2.5 m diversion: COPA to probe upon official request
Chairperson of the Parliamentary Committee on Public Accounts (COPA), Kabir Hashim, said if there is an official request for the Committee to look into the alleged US$ 2.5 million diversion linked to a Government payment to an Australian party, and if it is deemed necessary, the Committee will proceed without bias.
Source: (the morning) https://www.themorning.lk/articles/xNt1kAJK2pLlw0WCuxCa

Cabinet clears National Export Development Plan 2026-2030
The Cabinet of Ministers approved recognising the ‘Sri Lanka National Export Development Plan 2026-2030’ as the official strategic framework for the development and promotion of the country’s exports.
Source: (Daily FT) https://www.ft.lk/front-page/Cabinet-clears-National-Export-Development-Plan-2026-2030/44-791528

Cabinet clears ADB advisory support for 150 MW Kondachchi wind power project
The Cabinet of Ministers on Monday approved obtaining transaction advisory services from the Asian Development Bank (ADB) for the development of the 150 MW Kondachchi Wind Power Project.
Source: (Daily FT) https://www.ft.lk/front-page/Cabinet-clears-ADB-advisory-support-for-150-MW-Kondachchi-wind-power-project/44-791524

Do not be fooled by false propaganda on VAT amendment – Deputy Minister
Deputy Minister of Economic Development Nishantha Jayaweera noted that the tax amendment has been made with the aim of ensuring administrative convenience and transparency as implementing a single tax instead of several types of taxes will make calculations and administrative work easier, and the ability to collect taxes will also increase more efficiently.
Source: (Daily News) https://dailynews.lk/2026/05/06/business/990009/do-not-be-fooled-by-false-propaganda-on-vat-amendment-deputy-minister/

Bilateral trade: SL Amb. in Cairo holds discussions with Suez Governorate
Ambassador Sisira Senavirathne met with the Governor of the Suez Governorate, Major General Hani Rashad, together with Deputy Governor Dr. Mohamed Allam and senior officials, on 19 April in Suez, and discussed avenues to strengthen cooperation and develop partnerships in trade, investment, and broader economic engagement under the auspices of the Suez Governorate.
Source: (the morning) https://www.themorning.lk/articles/PgRULCik4V7Do0BPVZfw

‘Lanka natural and strategic destination for Maldivian investors’
Maldivian businesses are increasingly seeking opportunities abroad and Sri Lanka remains a natural and strategic destination for their expansion, Mohamed Muizzu, President of the Republic of Maldives said addressing the Maldives-Sri Lanka Business Forum held yesterday in Colombo.
Source: (Daily News) https://dailynews.lk/2026/05/06/business/990004/lanka-natural-and-strategic-destination-for-maldivian-investors/

EXPLAINER – Sri Lanka’s fuel price surge and looming cost of living crisis
In just five weeks, Sri Lankans have faced a staggering four rounds of fuel price hikes with the latest taking effect on Sunday (3).
Source: (economynext) https://economynext.com/explainer-sri-lankas-fuel-price-surge-and-looming-cost-of-living-crisis/-/269763/

Gold rebounds from five-week low, but inflation fears cap gains
Gold prices have risen from a five-week low hit in the previous session, although gains were limited as elevated crude oil prices kept inflation fears alive and clouded the US interest rate outlook.
Source: (Daily FT) https://www.ft.lk/financial-services/Gold-rebounds-from-five-week-low-but-inflation-fears-cap-gains/42-791507

Tourist arrivals drop by 22%
Sri Lanka’s tourist arrivals in the month of April have declined by 22.3% in comparison to April 2025, according to the data from the Sri Lanka Tourism Development Authority (SLTDA).
Source: (the morning) https://www.themorning.lk/articles/Y5Pi5vGSlK4dTfjk5Bt3

Govt. move to ban e-cigarettes irks tourism industry
A move by the Government to go for a blanket ban on e-cigarettes in Sri Lanka has irked the tourism industry.
Source: (Daily FT) https://www.ft.lk/front-page/Govt-move-to-ban-e-cigarettes-irks-tourism-industry/44-791523

Big oil resists push to prioritise output growth
Higher oil prices drove the first-quarter adjusted earnings at Exxon above analyst estimates as the jump in prices more than offset lower oil and gas production in the Middle East and Kazakhstan.
Source: (the morning) https://www.themorning.lk/articles/Em0OcYRtG3zF1ROaugoM

Sri Lanka moving to stabilize electricity grid with software, battery storage: Minister
Sri Lanka’s Ministry of Power and Energy is implementing technical reforms, including the procurement of specialized software and battery storage systems, to prevent a recurrence of the countrywide power outage experienced in February 2025, Energy Minister Anura Karunathilaka told Parliament.
Source: (economynext) https://economynext.com/sri-lanka-moving-to-stabilize-electricity-grid-with-software-battery-storage-minister/-/270034/

SLIC vehemently rejects false claims
Sri Lanka Insurance Corporation (SLIC) issuing a statement yesterday relating to the media briefings and social media posts being made against SLIC’s investment in treasury bond auction on April 9, 2026, noted those media releases are baseless.
Source: (Daily News) https://dailynews.lk/2026/05/06/business/989972/slic-vehemently-rejects-false-claims/

Sri Lanka Insurance vehemently rejects false claims on Treasury Bond investment
Sri Lanka Insurance yesterday categorically rejected false, misleading and malicious claims on Treasury Bond investments. Following is the full statement issued by the company;
Source: (Daily FT) https://www.ft.lk/financial-services/Sri-Lanka-Insurance-vehemently-rejects-false-claims-on-Treasury-Bond-investment/42-791490

Sri Lanka awards Rs1.46bn vehicle tenders to United Motors, Toyota, and DIMO
Sri Lanka’s Cabinet of Ministers have approved a proposal to award tenders for purchasing cabs and tractors at a total cost of 1,458.75 million rupees to United Motors Lanka, Toyota Lanka, and DIMO, minister Nalinda Jayatissa said.
Source: (economynext) https://economynext.com/sri-lanka-awards-rs1-46bn-vehicle-tenders-to-united-motors-toyota-and-dimo/-/270041/

Oil prices fall a second day as Trump indicates possible Iran peace deal
Oil prices fell for a second day on Wednesday on expectations bottled up supply from the key Middle East producing region could resume flowing after U.S. President Donald Trump indicated a possible peace deal ‌may be reached to end the war with Iran.
Source: (Reuters) https://www.reuters.com/business/energy/oil-prices-little-changed-ceasefire-holds-us-crude-stocks-fall-2026-05-05/

Sri Lanka rupee closes weaker to dollar; bond yields edge up
Sri Lanka’s rupee closed at 319.90/320.40 to the US dollar in the spot market on Tuesday, from 319.60/320.00 the previous day, dealers said, while bond yields edged up.
Source: (economynext) https://economynext.com/sri-lanka-rupee-closes-weaker-to-dollar-bond-yields-edge-up/-/270121/

Sri Lanka stocks close down amidst some selling pressure
Sri Lanka’s Colombo Stock Exchange closed down on Tuesday due to some selling pressure, brokers said.
Source: (economynext) https://economynext.com/sri-lanka-stocks-close-down-amidst-some-selling-pressure/-/270054/

Vallibel Finance locks in capital to power next phase of growth
Vallibel Finance has successfully raised over Rs. 2.1 billion through its Rights Issue, which was oversubscribed, reflecting strong investor confidence in the company’s strategic direction and long-term growth prospects.
Source: (Daily FT) https://www.ft.lk/front-page/Vallibel-Finance-locks-in-capital-to-power-next-phase-of-growth/44-791529

Merchant Bank of Sri Lanka and Finance to raise Rs999mn in rights issue
Merchant Bank of Sri Lanka and Finance, a subsidiary of Bank of Ceylon, plans to raise 999,123,120 rupees through a rights issue offering 4 new preference shares for every existing 21 ordinary shares.
Source: (economynext) https://economynext.com/merchant-bank-of-sri-lanka-and-finance-to-raise-rs999mn-in-rights-issue/-/269963/

Melstacorp, Aitken Spence to buy out shareholders of Browns Beach Hotels
Melstacorp and Aitken Spence Hotel Holdings are offering to buy shares from Browns Beach Hotels minority shareholders at 30 rupees each before delisting from Sri Lanka’s Colombo Stock Exchange.
Source: (economynext) https://economynext.com/melstacorp-aitken-spence-to-buy-out-shareholders-of-browns-beach-hotels/-/269988/