Company filings and market news from across Sri Lanka's stock market.
Brent crude fell 6% to $97.43/bbl as hopes of a US–Iran deal eased supply fears around the Strait of Hormuz. Global stocks rose and gold climbed 1.46% to $4,574/oz amid the moves in energy and currency markets.
The Sri Lankan rupee strengthened for a second session, with interbank spot at Rs. 325.50/Rs. 327.00 (from Friday's Rs. 329.00/Rs. 335.00) and TT rates easing to Rs. 326.01/Rs. 336.42. Analysts say external buffers, expected CBSL rate hikes and easing oil prices reduce the risk of a renewed BOP crisis; CBSL issued an advisory against oversimplified narratives on money printing and exchange rates.
Brent crude rose nearly 2% to $97.56/bbl after U.S. strikes on boats and missile launch sites in southern Iran, raising supply-risk concerns. The moves heighten market uncertainty over shipping through the Strait of Hormuz even as talks seek a deal to reopen routes.
Central Bank raised the Overnight Policy Rate by 100bps to 8.75%. The board cited supply-driven inflation (5.4% y/y in April) from high global oil prices, stronger credit-driven demand, external pressures including fuel-import driven trade deficits and recent rupee depreciation; reserves stood at USD 6.8bn.
Sri Lanka’s central bank raised the Overnight Policy Rate by 100bps to 8.75% to address rising inflation, credit expansion and external pressures; the statement cited 5.4% y/y inflation in April, high fuel prices, a wider trade deficit and gross official reserves of USD 6.8bn.
Colombo Stock Exchange closed down as the ASPI fell 0.85% to 22,175.14, with market turnover at Rs.4.92bn and insurance stocks leading turnover at Rs.3.18bn. Top gainers included Ceylon Beverage (+5.20%), Lion Brewery (+3.06%) and Ceylon Guardian (+5.43%), while Sampath Bank, Hayleys and HNB were top decliners.
CA Sri Lanka’s public sector wing held a seminar on Electricity Act No.36 of 2024 and the 2025 Amendment, focusing on Ceylon Electricity Board restructuring and unbundling and its implications for ownership, governance, staff transfers and financial viability.
Sri Lanka unveiled South Asia's first solar hybrid bakery oven (solar + biogas) on 22 May, aimed at replacing fossil-fuel baking and supporting sustainable livelihoods and reduced import reliance. The project, led by Incitare, GRFC, German Tech Kilinochchi and GIZ, includes donations, local production and training.
Oil fell about 6% to two-week lows as optimism grew that the US and Iran are moving closer to a peace deal; Brent dropped to $97.69/bbl (-5.7%) and WTI to $90.85/bbl (-6%). Analysts say normal flows through the Strait of Hormuz and repairs to damaged facilities could still take months.
Colombo Stock Exchange ASPI rose 1.96% (430.21 pts) to 22,359.85 on Monday, with the S&P SL20 up 1.93%. Top contributors included Dialog Axiata, John Keells, Commercial Bank and Hemas; Ceylon Cold Stores reported Q1 profit up 75% to Rs 3.76bn and LVL Energy Fund's rights issue was oversubscribed.
JB Securities CEO Murtaza Jafferjee said Sri Lanka must accept painful economic adjustments to restore external stability, attributing the rupee depreciation to current policy settings and urging market pricing and targeted support instead of broad subsidies.
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PodHUB and Dongfeng Motor Corporation (via Euro Motors) launched 'Driving Tomorrow', a podcast on Sri Lanka's shift to electric mobility; the debut episode features Omal Balapatabendi describing how EVs removed dependence on fuel queues and restored daily mobility.
The Ceylon Chamber of Commerce delegation led by Chairman Krishan Balendra held high-level economic engagements in Mumbai on 13–14 May, culminating in the renewal of an MoU with the Indian Merchants' Chamber. Discussions targeted technology, manufacturing, healthcare, renewable energy and digital transformation to boost bilateral trade and investment.
Indian High Commissioner Santosh Jha commended the Indian CEO Forum at its 22 May 2026 AGM, which reaffirmed commitments to deepen India–Sri Lanka economic and commercial ties and urged upgrading the bilateral FTA to boost investment. The Forum represents 70+ members and said members contributed over $2 million during Cyclone Ditwah.
Sri Lanka unveiled South Asia’s first solar hybrid bakery oven — a solar-and-biogas system developed by Incitare and GRFC with GIZ support, with installations completed in Dambulla and Kilinochchi to support sustainable livelihoods, food security and local training.
President Anura Kumara Dissanayake said Sri Lanka faces external pressures from the Middle East conflict—higher oil and import costs and rupee depreciation—but rejected a repeat of the 2022 collapse, noting Central Bank reserves near $7bn and a $700m inflow expected; he assured no shortages of fuel, gas, milk powder or fertiliser.
Deputy Finance and Planning Minister Dr. Anil Jayantha Fernando defended Sri Lanka's flexible exchange rate and independent monetary policy amid rupee pressure, noting the interbank rate averaged Rs.330/USD (bids Rs.327, offers Rs.332). He warned fuel import costs could hit $521m in May, forecast remittances above $9b and expected IMF tranche approvals.
National consumer price inflation (NCPI) rose to 4.7% year‑on‑year in April from 2.4% in March, driven by higher fuel, electricity and transport costs; non‑food inflation climbed to 7.8%. Transport contributed 1.69 percentage points and housing/water/electricity/gas contributed 1.26 percentage points to headline inflation.
ITAK MP Shanakiyan Rasamanickam called for a bipartisan national response and proposed expanding Aswesuma, transport subsidies, temporary VAT relief on essentials and measures to stabilise the rupee after it weakened about 6% to Rs.327.60 by 18 May 2026. He also urged curbs on luxury imports, criticised untargeted fuel subsidies and proposed a Sri Lanka Development Fund to boost tourism and FDI.
State-owned Ceylon Petroleum Corporation's May oil import bill rose to US$521mn from US$152mn in December due to Middle East conflict-driven crude price spikes; officials expect it to ease to US$332mn in June and US$241mn in July. First-quarter fuel imports for all retailers totalled US$1,281.5mn, consuming about 20% of Sri Lanka's import budget and draining FX reserves.
Brent crude rose 2% to $104.71 a barrel as hopes of progress in US‑Iran talks and supply worries pushed oil higher, while the US dollar hovered near six‑week highs and markets priced in possible Fed rate hikes; MSCI Asia ex‑Japan rose 0.3% and WTI was $98.01.
CT Smith says Sri Lanka's current pressures are driven mainly by an external energy shock, with near-term multilateral inflows of about $1.38–1.4bn (IMF $700m, ADB $480m, World Bank $200m) expected to help stabilize the rupee. The firm notes the rupee has weakened ~6.2% YTD to Rs329.64, inflation rose to 5.4% in April, and the CBSL policy decision is due 26 May (base case: rates held at 7.75%).
Opposition Leader Sajith Premadasa urged the Government to begin negotiating a successor IMF program, saying Sri Lanka has $7bn in reserves against the IMF's $14.2bn target by March 2027 and would need about $600m/month to bridge the gap. He noted ongoing talks with the IMF to adjust the current EFF amid Middle East war-driven oil-price shocks and rupee weakness.
Government expects to settle nearly Rs. 15 billion in outstanding dues to renewable energy developers by end-June, with Rs. 2 billion released on 19 May and a further Rs. 1 billion due next week; payment delays have affected 386 developers.
Energy Minister Anura Karunathilaka said the government will not seek a further electricity tariff increase from the PUCSL before September and has provided a Rs.15 billion subsidy to cushion other consumers. The latest revision mainly affects users consuming over 180 units/month amid USD appreciation and Middle East pressures on energy costs.
PUCSL found coal supplied by Trident Chemphar caused operational, environmental and financial impacts at Lakvijaya (Norochcholai), estimating about Rs. 8.497 billion in shipment-related losses. The plant could not reach 900 MW (units fell to 253–292 MW), specific coal consumption rose from 364 g/kWh to 391–452 g/kWh, fly ash discharge roughly doubled, and delayed shipments risk power shortages during peak demand months.
The Sri Lankan government will settle nearly Rs15bn owed to renewable energy developers by end-June. The National System Operator has released Rs2bn on May 19 and plans a further Rs1bn next week, with delayed payments having affected about 386 developers and risking industry collapse.
Sri Lanka's rupee has fallen 4.6% this month and slid to 334.52 per dollar, which officials attribute to speculation, a six-fold surge in the fuel import bill, and outflows from government securities and the stock market.
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