Business & Economics

Ownership Options Remain Open as Mattala Airport Awaits Revival

Asian TribuneFebruary 22, 2026

Sri Lanka’s Government says all ownership and management options remain open for the underutilized Mattala Rajapaksa International Airport (MRIA) as efforts continue to revive operations at the country’s second international airport. Deputy Minister of Transport Ruwan Ranasinghe stated that the immediate priority is to make the airport fully operational before deciding on a long-term ownership...

Donald Trump Proposes Raising Global Tariff from 10% to 15%

Asian TribuneFebruary 22, 2026

Washington, D.C. – Former U.S. President Donald Trump has announced a new proposal to increase the existing global baseline tariff from 10% to 15%, signaling a significant shift in his trade policy agenda ahead of the upcoming election cycle. The proposal, which is expected to become a central pillar of his economic platform, aims to...

No National Gas Shortage, Government and Supplier Say; Distribution Issues Identified

Asian TribuneFebruary 21, 2026

Amid growing public concern over empty gas cylinders and long queues at retail outlets, the Sri Lankan government and state‑owned supplier Litro Gas Lanka Ltd. have disputed claims of a nationwide gas shortage, saying that current challenges are due to temporary supply and distribution issues rather than an actual shortfall. Government Statement: ‘No National Gas...

Resignation of Lanka Sugar Chair Raises Questions Over Political Pressure

Asian TribuneFebruary 19, 2026

Former chair cites unlawful requests; minister denies interference The resignation of Lanka Sugar Company’s Chairperson, Attorney-at-Law Sandamali Chandrasekara, has raised questions about possible political pressure within Sri Lanka’s state-owned enterprises. She stepped down from her position on February 17, informing Minister of Industries and Entrepreneurship Development Sunil Handunnetti in writing. She is the second chairperson...

10-Year Tax Concessions Approved for Strategic Development Projects in Key Sectors

Asian TribuneFebruary 16, 2026

The Government has approved 10-year tax concessions for a range of Strategic Development Projects (SDPs) across multiple priority sectors, aiming to attract large-scale foreign and local investment while accelerating economic recovery and long-term growth. According to official sources, the concessions will apply to projects that meet specific investment thresholds and national development criteria under the...

‘Star of Pure Land’ enters global record as world’s largest purple star sapphire

Asian TribuneFebruary 15, 2026

Colombo, January 18, 2026 – A rare and enormous natural purple star sapphire called the “Star of Pure Land” has been formally entered into the global record books as the largest documented gemstone of its kind in the world. The gemstone weighs a remarkable 3,563 carats and displays a striking six-ray star pattern (asterism) —...

Agreement on Sinopec Hambantota oil refinery to be finalised in early 2026, says Foreign Minister

Asian TribuneFebruary 15, 2026

Colombo, January 13, 2026 – Sri Lanka’s Minister of Foreign Affairs, Foreign Employment and Tourism, Vijitha Herath, has announced that the long-delayed agreement with China’s state-owned energy company Sinopec for the proposed oil refinery project in Hambantota is expected to be finalised in the first quarter of 2026. The statement was issued by the Ministry...

SriLankan Airlines to convert Rs. 25 b government funding into equity

Asian TribuneFebruary 15, 2026

Colombo, February 15, 2026 – Sri Lanka’s national carrier, SriLankan Airlines, is planning to seek shareholder approval next month to convert Rs. 25 billion already provided by the Government into equity stakes in the airline. The move comes as part of ongoing efforts to strengthen the airline’s balance sheet and capital structure, following years of...

Domestic oversupply widens gold price gap in Sri Lanka market

Asian TribuneFebruary 15, 2026

Sri Lanka’s domestic gold market is facing a growing disparity between local and international bullion prices, largely driven by oversupply within the country. Current rates show that 22-carat and 24-carat gold jewellery prices continue to trade at a premium locally, even as global gold benchmarks ease. Local traders say that abundant domestic stocks and weaker...

Sri Lanka’s Economic Recovery Shows Cautious Signs of Stability

Asian TribuneFebruary 1, 2026

Economic indicators suggest tentative stability, though challenges remain for long-term growth. Sri Lanka’s economy has shown cautious signs of stabilisation, according to recent assessments by policymakers and analysts. Improved fiscal discipline, controlled inflation, and gradual recovery in tourism have contributed to a more stable outlook. However, economists warn that recovery remains fragile. High debt levels,...