News & market updates

Radisson Blu Resort Galle, Radisson Hotel Colombo and Radisson Hotel Kandy are introducing a fleet of electric vans supplied by Evolution Auto to electrify operations and reduce emissions. The fleet (KYC and King Long vans) will support staff, guest and logistics movements, include charging facilities, and cut fuel and maintenance costs.

TVS Lanka launched the TVS Sport 110 in Sri Lanka, claiming a 15% fuel-economy improvement and mileage of 80 km/l. The commuter bike features ET‑Fi fuel injection, synchronized braking, a five-year/76,000 km warranty and island-wide availability through TVS Lanka’s dealer network.

Parliamentary SOC flagged discrepancies in coal shipment documentation at the Lakvijaya Power Plant, reporting the first three consignments had GCV below 5,900 kcal/kg and recommending independent laboratory retesting. The PUCSL was directed to calculate financial losses and the AG's registration recommendations for LCC were urged for prompt implementation.

Sinopec opened three upgraded fuel stations and one new Sinoceylon filling station in Anuradhapura, featuring Clean Sri Lanka-compliant facilities, a Clear Spring water-filtration unit at New City Lanka, and training programs covering over 300 station staff.

Sinopec completed three upgraded stations and one new filling station in Anuradhapura, expanding its retail network into the North Central Province. The sites comply with Clean Sri Lanka standards and include water-filtration at New City Lanka, upgraded washrooms, safety improvements and staff training.

Asian stocks hit a record high as stronger-than-expected U.S. jobs data lifted Treasury yields and reduced near-term Fed rate-cut odds; oil prices rose and the dollar firmed while the yen strengthened.

Asian stocks surged as Japan's Nikkei jumped 4.4% after PM Sanae Takaichi's decisive win and a strong rebound in U.S. chip stocks, supported by growing bets on U.S. rate cuts; commodities moved too with gold and silver up and oil slightly lower.

LAUGFS Gas PLC raised domestic LPG refill prices effective midnight 6 Feb: 12.5 kg cylinder up Rs.80 to Rs.4,330 and 5 kg up Rs.32 to Rs.1,742, applying islandwide.

Hemas Holdings reported nine-month earnings up 7.5% to Rs. 5.9 billion on revenue growth of 9.4% to Rs. 95.8 billion, led by double-digit growth in Healthcare and Mobility; Cyclone Ditwah caused temporary supply-chain and demand disruption but recovery trends are evident.

Asian shares wobbled as U.S. and European selloffs driven by AI-related pressure on software hit markets, while oil rose after the U.S. shot down an Iranian drone and gold rebounded from a recent rout.

US President Trump said Washington will cut tariffs on India to 18%, removing a 25% punitive levy tied to Russian oil purchases; Indian officials have not publicly confirmed the commitments. The change would mainly benefit labour‑intensive exporters such as textiles, marine and leather.

Cabinet approved awarding a contract to Singapore’s Epdesa Ltd to import five shipments (300,000 ±5% barrels) of Petrol 92 for six months from 15 March to 14 September 2026 following competitive bids.

The U.S. announced a deal to cut tariffs on Indian goods to 18% (from 50%) in exchange for India ending Russian oil purchases and buying large volumes of U.S. energy; the announcement gave few implementation details and timing is unclear.

Qatar Energy CEO Saad al-Kaabi said rising demand from AI/data centres and increased Asian and European gas needs could turn an expected LNG glut into a shortage by 2030. Executives at LNG2026 highlighted Asia (China, India, Southeast Asia) and data centres as major drivers of future LNG demand.

U.S. President Trump threatened tariffs on any country supplying oil to Cuba under a national emergency order, without specifying tariff rates or naming target countries.

Central Bank of Sri Lanka kept the Overnight Policy Rate at 7.75%. Inflation was 2.1% in Dec 2025 and is projected to move toward 5% by H2 2026 amid rising food and core inflation, strong credit growth and post-cyclone rebuilding; gross official reserves were $6.8bn at end-2025.

Grid Connected Solar Power Association says CEB's nine-month weekend/public-holiday curtailment of large renewable plants has caused about Rs.2 billion in losses and cut monthly incomes of ground-mounted solar owners by ~15%. The group urges immediate BESS implementation, compensation and continuation of the FIT, warning that draft National Electricity Policy proposals (no-compensation curtailment, rupee PPAs, competitive bidding) and delayed guidelines threaten the local renewable sector and co

The country's single largest coal procurement—1.5 million MT at CIF $98.50 (~$150m) awarded to Trident—has been delayed and mishandled. Trident has missed scheduled laycans and may face penalties, threatening supply and potentially leading to higher (‘cost-reflective’) electricity bills.

Sri Lanka's central bank will present a report to Parliament showing inflation below 2% in Q1–Q2 2025 (with -1.1% in Q2 and 0.8% in Q3), missing its 5% floor. The achievement has drawn praise but also concerns about the central bank's exchange-rate and operating framework.

World Bank projects Sri Lanka will sustain primary fiscal surpluses and current account surpluses over the medium term, supported by strong revenue, lower global oil prices and resilient remittances. Growth is forecast to slow to 3.5% in 2026 and 3.1% in 2027; Ditwah damage is preliminarily estimated at $4.1bn (4% of GDP).

Sri Lanka Treasury bill yields have edged up, breaking the unusually flat, compressed rates across tenures. Analysts warn the move signals government fiscal needs that could crowd out private credit, push up deposit and lending rates and exacerbate rupee depreciation and fiscal pressures.

Global stocks and futures slid after President Trump threatened additional tariffs on several European countries, stoking trade-war fears that weakened the dollar, propelled gold to record highs and pushed oil prices lower.

Global crude prices fell over 3% as easing tensions in Iran and larger-than-expected US inventory builds reduced supply-risk concerns; Brent retreated to about $64/bbl and WTI slipped below $60, reversing recent gains.

World Bank projects Sri Lanka real GDP growth to slow to 3.5% in 2026 (3.1% in 2027), down from an estimated 4.6% in 2025, citing structural weaknesses and weaker external demand. It says the external position has improved due to strong remittances, a tourism recovery and lower global oil prices supporting a current account surplus.

Hayleys PLC (via Hayleys Fentons / HayWind One Limited) has begun construction of a 50 MW wind farm in Mannar to supply electricity to the national grid under a PPA with the Ceylon Electricity Board. The project is expected to save about Rs.4.7 billion in annual fuel costs and offset ~186,300 tonnes of CO2.

Several business chambers, including the Ceylon Chamber, AmCham and Exporters Association, submitted joint feedback on Sri Lanka's Draft National Electricity Policy, warning that removing cross-subsidies and capping subsidies to households under 30 kWh/month could weaken affordability and raise fiscal risks. They also cautioned that uncompensated curtailment and removing feed-in tariffs may make renewable projects un-bankable and raise the cost of capital.

Hayleys PLC launched construction of the 50 MW Hayleys Fentons wind project in Mannar, expected to generate 207 million kWh/year at a tariff of $0.0465 per unit and due for completion in March 2027.

World Bank says one in four developing economies are poorer than in 2019 and projects global growth to ease to 2.6% in 2026 (rising to 2.7% in 2027). The report warns of slower per-capita income growth in developing economies, lower inflation in 2026, and urges fiscal rules and investment in physical, digital and human capital.

US President Donald Trump said he had imposed a 25% tariff on goods from countries doing business with Iran, effective immediately, without detailing what qualifies as 'doing business'; China, Iraq, UAE, Turkey and India were named as Iran's top trading partners.

Sri Lanka said the SINOPEC Hambantota oil refinery agreement will be finalized in Q1 2026; China pledged support for cyclone recovery and to deepen cooperation on trade, investment and tourism.