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Top stories — November 11, 2026

Latest stories

Asia Asset Finance posts 110% rise in first-half profit to Rs. 838.5 million

November 10·2 sources

Asia Asset Finance PLC recorded a 110% year-on-year increase in profit after tax to Rs. 838.5 million for the six months ended 30 September 2026, up from Rs. 400 million. Profit before tax rose 140% to Rs. 1.62 billion. During the period, net interest income increased 92% to Rs. 3.78 billion, and annualised return on equity reached 28.5%. Total assets rose 24% from 31 March 2026 to reach Rs. 66.63 billion. Net loans and advances stood at Rs. 51.88 billion, with gold loans comprising approximately 73% of the lending portfolio. Customer deposits grew 37% over the six months to Rs. 35.51 billion. Shareholders' funds rose 47% to Rs. 7.01 billion, supported by a Rs. 1.50 billion rights issue and retained earnings. The company's gross non-performing loan ratio improved year-on-year, falling from 9.4% to 7.6%.

Economy & BusinessEnglish

CMTA calls for action on Rs. 40 b revenue leak

September 13·1 source

The Ceylon Motor Traders’ Association (CMTA) is calling for action on a Rs. 40 billion revenue leak within Sri Lanka's automotive sector. CMTA chairman Andrew Perera, speaking at a recent media conference, emphasized the need for greater consistency, transparency, and fairness in policies governing the industry. The Association stressed that a sustainable vehicle import framework is essential to ensure a level playing field across the entire automotive sector.

Economy & BusinessEnglish

Budget 2027: The Speech is not the law

September 13·1 source

Sri Lanka is currently debating its Budget 2027, even though the Appropriation Bill has not yet reached Parliament, highlighting that the 'speech is not the law.' The draft Bill, which details the Government’s proposed expenditure allocations for 2027, is scheduled to go before Cabinet on September 14. Following this, it will appear in the Gazette on September 18. The Bill is then set to receive its First Reading in Parliament on October 7.

Economy & BusinessEnglish

Geopolitical risks redefining global reserve management, says Central Bank Governor

September 13·1 source

Central Bank Governor Dr. Nandalal Weerasinghe stated that geopolitical risks are redefining global reserve management. He noted that the previous assumption of a relatively integrated global financial system can no longer be taken for granted. This shift is due to strategic competition among major economies influencing trade, investment, and financial relationships, with sanctions becoming a more prominent policy instrument.

Economy & BusinessEnglish

US FMC Chair backs Colombo as global maritime hub

September 13·1 source

US Federal Maritime Commission (FMC) Chair Laura DiBella, speaking in Colombo, stated that Sri Lanka has a significant opportunity to develop Colombo into a global transshipment and logistics hub. She emphasized the US's strong interest in Sri Lanka. This interest stems primarily from Sri Lanka's strategic location in global shipping and the substantial volume of US-bound cargo that transits through the region.

Economy & BusinessEnglish

Renewables could support Sri Lanka’s return

September 13·1 source

Sri Lanka seeks to improve its sovereign credit rating profile and regain access to global capital markets. Economists and financial sector specialists told Sunday Observer Business that Pakistan, Ghana, and Argentina offer valuable examples for this goal. They specifically cited Pakistan's US$3 billion Sovereign Bond Issue (ISB) this month as an ideal example of how a once-defaulted nation can return to global capital markets.

Economy & BusinessEnglish

UNFPA presents emergency supplies for women and girls

September 13·1 source

The United Nations Population Fund (UNFPA) presented emergency supplies valued at US$ 250,641 to Sri Lanka's Ministry of Health. These supplies are intended to help protect the health, safety, and dignity of women and girls during disasters. The provision of these supplies was supported by the Governments of Australia and New Zealand, with the handover taking place at the Family...

HealthEnglish

Shanakiyan questions two-year absence of Legal Director at Port City Commission

September 13·1 source

Illankai Tamil Arasu Kachchi (ITAK) Parliamentarian Shanakiyan Rasamanickam recently questioned the Minister of Finance and Planning in Parliament regarding the Colombo Port City Economic Commission. Rasamanickam highlighted that the Commission has been operating for nearly two years without a Legal Director. He raised concerns that this prolonged vacancy impacts the Commission's legal oversight, decision-making, and transparency.

PoliticsEnglish

Sri Lanka targets mine-free status by 2032

September 13·1 source

Sri Lanka is targeting completion of its mine-clearance programme by 2032. According to the National Mine Action Centre (NMAC), 20.5 square kilometres of contaminated land remain to be cleared. This remaining area is equivalent to 20.5 million square metres, or roughly half the total land area of the Colombo District, according to a Minister.

OtherEnglish

SLTB to get 600 new deluxe buses

September 13·1 source

The Cabinet has approved the purchase of 600 new air-conditioned deluxe buses for the Sri Lanka Transport Board’s (SLTB) intercity and long-distance passenger services. These buses will be acquired using Rs. 14,400 million already allocated under the Government’s 2026 investment programme. This purchase will not require any additional financial allocation.

Economy & BusinessEnglish

SJB MP’s remarks on CJ expunged from Hansard

September 13·1 source

On Thursday (10), remarks made by Samagi Jana Balawegaya (SJB) MP Amila Prasad Siriwardana in Parliament were deemed to have targeted Chief Justice Preethi Padman Surasena. As a result, Deputy Chairperson of Committees Hemali Weerasekara, who was presiding over the House, instructed that a portion of these remarks be expunged from the Hansard.

PoliticsEnglish