A market brief each morning, plus company filings and news from across Sri Lanka's stock market. Filter by company, sector and theme, and use sentiment badges to quickly identify Positive or Negative news.
Rising global oil prices prompted a Rs41 billion diesel subsidy for Oct-Dec and Rs17.2 billion in electricity-bill relief, cushioning end-user energy costs while increasing reliance on budget support rather than tariff cost recovery. New rooftop solar applicants were shifted to Net Plus, limiting grid-cost cross-subsidies by requiring users to meet their own nighttime demand. The sector also advanced a four-block Mannar Basin oil and gas licensing round.
Auto-generated from 34 sector news articles over 14 days. Not investment advice.
The Cabinet approved Rs.40.65 billion in subsidies to cap Auto Diesel and Industrial Diesel prices for October-December (Rs15.0bn Oct, Rs13.5bn Nov, Rs12.15bn Dec) to limit pass-through from higher global fuel prices amid the Middle East conflict.
The LMD-PepperCube Business Confidence Index rose 13 points to 162 in September (from 149). The report also notes official foreign reserves climbed to US$6.9bn and the Central Bank absorbed US$579m from the domestic FX market, while Brent crude neared US$110.
Sri Lanka's cabinet approved a Rs41 billion diesel subsidy for Oct-Dec (Rs15.0bn Oct, Rs13.5bn Nov, Rs12.15bn Dec) while petrol is excluded, minister Nalinda Jayatissa said. The CPC will set final per-litre rates; the government said CPC and Lanka IOC hold adequate import stocks.
Resus Energy PLC said two subsidiaries have submitted bids within the qualifying price range to install 16 MW (64 MWh) of battery energy storage systems under a government tender; estimated equity needed is Rs 650-800 million and awards are pending.
Oil prices rose for a second session, with Brent at $106.77/barrel (up $1.49, +1.4%) and US WTI at $93.94 (up $1.34, +1.5%), driven by lingering Middle East supply disruption concerns tied to the US‑Iran standoff despite signs of higher Gulf exports.
The EDB and SLAMERP held a full-day workshop, led by NCPC experts, on energy management and efficiency for Sri Lanka's rubber products manufacturers to improve profitability and competitiveness. Sessions covered EnMS, thermal/process optimisation, energy audits and renewable energy technologies.
Foreign Affairs Minister Vijitha Herath told the UN General Assembly Sri Lanka has restored macroeconomic stability since the 2022 crisis and urged reform of the international financial system and fairer debt rules. He said Sri Lanka is on track for 70% renewable energy by 2030 and carbon neutrality by 2050.
Energy Minister Anura Karunathilaka said Sri Lanka is trying to keep diesel prices steady at the next fuel-price revision despite global oil near US$110/barrel, warning that otherwise the government would need to provide subsidies; the next revision is expected Wednesday.
HayWind One (the wind arm of Hayleys Fentons) has begun turbine tower erection at the 50MW Mannar Wind Farm, with the first two 5MW turbines fully erected. The project is expected to deliver about 207 million kWh/year and targets commissioning and grid energisation by December 2026.
WindForce PLC's six project companies submitted winning bids to add a combined 28.25 MW/143.75 MWh of battery storage to existing solar plants, with WindForce's equity investment estimated at about Rs. 944 million. The formal awards, regulatory approvals and agreements are still pending.
Vidullanka PLC's project companies submitted winning bids to add 93 MWh (18.7 MW) of battery storage across four solar plants, with Vidullanka's equity share estimated at about Rs. 600 million. The awards are subject to Letters of Award, regulatory approvals and final agreements.
Colombo Stock Exchange opened higher as the ASPI rose 30.69 points to 21,068.04 (up 0.15%); market turnover was 57.56 million rupees. Vidullanka said project companies it holds equity in won bids to install 18.7 MW/93 MWh of BESS, with its estimated equity share about 600 million rupees.
Cabinet will decide today on a Rs.41 billion fuel subsidy covering the next three months to shield consumers from rising world oil prices; the allocation equals about Rs.13.7 billion a month versus about Rs.19 billion a month under the earlier subsidy as regional benchmarks climb.
Energy Minister Anura Karunathilaka denied the government is curbing rooftop solar, saying installed solar capacity exceeds 3,070 MW and 2026 rooftop targets have already been exceeded. The NSO and distributors will temporarily monitor new rooftop approvals for grid security under the 'Net Plus' scheme; zero-export battery systems and approvals before 11 Sep are exempt.
Asian stocks slipped as Brent futures rose 2.1% to $106.49/bbl and US crude hit $93.84, while rising bond yields lifted odds of further central-bank rate hikes and kept markets on edge.
Energy Minister Anura Karunathilaka said there is no firm timeline for electricity tariff cuts; tariffs will be set annually based on cost calculations and any savings from expanded renewable generation (solar >3,070 MW; planned 1,392 MW solar and ~1,240 MW/4,660 MWh batteries in 2027-29) will be passed on progressively.
Vidullanka PLC said project companies in which it holds equity submitted winning bids to develop 18.7 MW/93 MWh of battery energy storage integrated with existing ground-mounted solar plants; Vidullanka's estimated equity share is about Rs 600 million, with final awards and approvals pending.
Colombo stocks opened higher as the ASPI rose 0.15% to 21,068.04 with turnover Rs57.56m. Market positive contributors included LOFC, HAYL, DIAL and COMB while SEMB, MELS and HHL fell; VLL said its project firms won bids to build 18.7MW/93MWh BESS with VLL equity share ~Rs600m.
Sri Lanka defended restricting new rooftop solar connections to the Net Plus scheme for applications after Sept 21, saying the move in the National Electricity Policy prevents non-solar consumers subsidising costly nighttime generation. Net Plus allows payment for daytime surplus but requires users to pay for higher-cost night power.
ADB forecasts growth in developing Asia and the Pacific will moderate to 5.0% in 2026 from 5.5% in 2025 and edge up to 5.1% in 2027, trims 2026 inflation to 4.2%, and warns that a strong El Niño and geopolitical risks could push up food and energy prices.
WindForce PLC's six project companies submitted winning bids to develop 28.25 MW and 143.75 MWh of battery energy storage systems, with WindForce's estimated equity investment about 944 million rupees. Formal awards are pending; projects would be built on a 15-year BOO basis.
WindForce PLC said six of its project companies submitted winning bids to develop 28.25 MW and 143.75 MWh of battery energy storage, with estimated equity investment of about 944 million rupees. The projects are proposed on a 15-year BOO basis and formal awards and approvals are pending.
Oil prices rose over 2% as US-Iran diplomatic talks showed little progress and uncertainty grew about a possible US diesel export ban; Brent was $105.51/bbl (up $2.43) and WTI $93.90/bbl (up $1.74).
Australian shares slid to a more-than-three-month low as the S&P/ASX 200 fell about 1.2% to 8,658.10 after crude oil surged nearly 4%, reviving inflation worries and boosting the prospect of further Reserve Bank rate hikes.
Energy Minister Anura Karunathilaka set a timeline for the SL2026-01 offshore oil and gas licensing round, aiming to close bids by Feb-Mar 2027 and finalise licences by end‑2027; bidders face a signature bonus of about US$5,000. The round offers four Mannar Basin blocks (~34,000 sq km) and targets commercial production by 2032.
Parliament approved a Rs. 17.2 billion supplementary estimate for the Ministry of Energy to provide electricity-bill relief. The funds were reallocated from line ministries unlikely to use them and will not change the overall expenditure ceiling or government borrowing limit; Parliament also passed the Promotion of Export Agriculture (Amendment) Bill updating the definition of notified export crops.
Hayleys PLC's Hayleys Solar completed 1,300 kWp of solar installations across three hotels, Golden Star Beach Hotel (240 kWp), Tangerine Beach Hotel (780.57 kWp) and DoubleTree by Hilton Weerawila (280.25 kWp), expected to cut about 1,356 tonnes of CO2 annually.
IMF completed its seventh EFF review and 2026 Article IV consultations, saying Sri Lanka's economy has shown resilience but downside risks remain. The IMF noted 11 consecutive quarters of growth, rising reserves and strong fiscal outturn, while urging revenue reforms, cost‑recovery energy pricing and greater exchange‑rate flexibility.