Indian Navy Ship Nireekshak calls at Sri Lanka’s Colombo Port

Tuesday April 21, 2026 4:56 pm

ECONOMYNEXT – Indian Navy Ship Nireekshak has arrived at the port of Colombo in Sri Lanka for an operational turnaround (OTR) and a training visit on Tuesday, the Sri Lanka Navy said.

“Commanded by Commander Sailesh Kumar Tyagi, this Diving Support Vessel in Sri Lanka is set to conduct a training programme with the diving professionals of the Sri Lanka Navy.”

The crew is set to participate in several activities organized by the Sri Lanka Navy.

They will also visit some tourist attractions within the country, the navy said.

India’s vice president C P Radhakrishnan has just concluded a visit to the island nation where he met government and opposition political members. (Colombo/Apr21/2026)

Tuesday April 21, 2026 5:06 pm

ECONOMYNEXT – Sri Lanka’s rupee closed at 316.50/75 to the US dollar in the spot market Tuesday, from 316.30/70 the previous day, dealers said, while bond yields were steady.

A bond maturing on 15.12.2026 closed at 8.55/70 percent, up from 8.45/55 percent.

A bond maturing on 01.05.2027 closed at 8.85/95 percent.

A bond maturing on 01.07.2028 closed at 9.65/75 percent.

A bond maturing on 15.10.2029 closed at 9.95/97 percent.

A bond maturing on 15.12.2029 closed at 9.95/10.00 percent.

A bond maturing on 01.07.2030 closed at 10.12/17 percent, down from 10.15/20 percent.

A bond maturing on 01.10.2032 closed at 10.65/75 percent.

A bond maturing on 01.06.2033 closed at 10.95/11.00 percent, down from 10.95/11.05 percent.

A bond maturing on 15.06.2034 closed at 10.95/11.00 percent, down from 11.08/17 percent.

An auction of 110 billion rupees Treasury bills is scheduled for Wednesday. (Colombo/Apr21/2026)

Tuesday April 21, 2026 4:32 pm

ECONOMYNEXT – Fitch Ratings has withdrawn Sri Lanka power utility Ceylon Electricity Board’s A(lka) National Long-Term Rating, which was on a Stable Outlook, as the CEB no longer exists following its dissolution in March 2026.

The global ratings agency said it will no longer provide ratings or analytical coverage for CEB, which has been replaced with 6 state-owned companies to take over electricity generation, transmission, distribution, and system operations.

“CEB’s rating was equalised with that of its parent, the Sri Lankan sovereign (Long-Term Local-Currency Issuer Default Rating (IDR): CCC+; Long-Term Foreign-Currency IDR: CCC+), in line with Fitch’s Government-Related Entities Rating Criteria.”

Before it was dissolved, state-owned CEB was the sole electricity transmitter and distributor in Sri Lanka, accounting for over 70 percent of domestic electricity generation capacity through its network of hydro and thermal power plants, Fitch pointed out. (Colombo/Apr21/2026)

Tuesday April 21, 2026 3:27 pm

ECONOMYNEXT – The Colombo Stock Exchange closed up on Tuesday, as investors awaited an uncertain US-Iran truce.

“If a deal doesn’t get signed, the market has already factored in a certain amount of volatility,” Raynal Wickremeratne, Head of Strategy, Softlogic Stockbrokers said about the potential ceasefire between Iran and the United States.

“But if it gets signed, we will see a major win for the market.”

The All Share was up 0.25 percent, or 55.45 points at 22,625.48.

The S&P SL20 was down 0.01 percent, or 0.33 points at 6,222.46.

Bukit Darah (up 8.49 percent at 999.50 rupees), Central Finance Company (up 1.90 percent at 254.75 rupees), and Melstacorp (up 0.69 percent at 182 rupees) were top positive contributors to the ASPI.

John Keells Holdings (down 0.49 percent at 20.30 rupees), National Development Bank (down 1.09 percent at 113.25 rupees), and DFCC Bank (down 0.69 percent at 144 rupees) were top negative contributors.

Turnover was 3.56 billion rupees. Consumer services contributed 1.02 billion rupees.

In global markets, the US’ DOW Jones 30 index was flat at 49,442.56 points.

Hong Kong’s Hang Seng was up 0.48 percent at 26,487.48.

Meanwhile, India’s Nifty50 index was up 0.79 percent at 24,556.65.

Sri Lanka’s Abans Finance, a subsidiary of Abans, said it has received Colombo Stock Exchange approval in principle to list 1.5 billion rupees of 12.50 percent fixed interest and floating rate of AWPLR plus 2.00 percent debentures.

The share closed up 3.87 percent at 96.70. (Colombo/Apr21/2026)

Tuesday April 21, 2026 1:57 pm

ECONOMYNEXT – Sri Lanka’s Abans Finance, a subsidiary of Abans, said it has received Colombo Stock Exchange approval in principle to list 1.5 billion rupees of 12.50 percent fixed interest and floating rate of AWPLR plus 2.00 percent debentures.

Type A carries a fixed interest rate of 12.50 percent per annum, paid annually, with an annual effective rate of 12.50 percent.

Type B carries a floating rate of AWPLR plus 2.00 percent, paid semi-annually, it said in a stock exchange filing.

Fitch Ratings has assigned the debenture issue a final National Long-Term Rating of ‘A-(lka)’.

The subscription list opens on April 24.

NDB Investment Bank Limited is manager to the issue. (Colombo/Apr21/2026)

Tuesday April 21, 2026 12:39 pm

ECONOMYNEXT – Frontier market economies that are sizeable net importers of fossil fuel, like Sri Lanka, will see increasing pressure on their balance of payments due to the rise in energy prices, Fitch Ratings has said.

Countries that are net energy exporters are set to benefit in relative terms by contrast.

“Higher energy prices are also liable to push up inflation. Prior to the energy price shock, most frontier markets had inflation under control, and central banks were mostly able to hold or cut policy rates, the global ratings agency said.

Real policy rates are typically higher than in developed markets, it pointed out.

Fitch’s quarterly Frontier Markets Economic Monitor chart pack tracks high-frequency macroeconomic data for the countries included in the J.P. Morgan’s Next Generation Markets (NEXGEM) Index, incorporating the latest changes in composition.

The index comprises countries from sub-Saharan Africa, Latin America and the Caribbean, the Middle East and North Africa, Europe, and Asia.

At its Spring Meetings in Washington last week, the International Monetary Fund warned that commodity-importing emerging market and developing economies (EMDE) face the sharpest toll from the war in West Asia.

As of Tuesday, diplomatic efforts to end the US-Israel war on Iran remained uncertain, after the US seizure of the Iranian merchant vessel Touska.

The US-Iran ceasefire is set to expire at 8 pm ET on Wednesday (midnight GMT, 3.30 am Thursday in Iran) according to US President Donald Trump. (Colombo/Apr21/2026)

Tuesday April 21, 2026 11:18 am

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange continued to trend up after open, CSE data showed.

The All Share Price Index was up 0.22 percent, or 50.35 points, at 22,620.38; while the S&P SL20 was up 0.08 percent, or 4.70 points, at 6,227.49.

Commercial Bank (up 0.24 percent at 209 rupees), Central Finance Company (up 1.80 percent at 254.50 rupees), and Dialog Axiata (up 1.18 percent at 34.20 rupees) were the top positive contributors to the ASPI.

Market turnover was 1.67 billion rupees. Consumer services led turnover with 206.7 million rupees.

Ceylon Tobacco Company announced a dividend of 17.54 rupees. The share was up 0.23 percent at Rs.1,779.50 during intraday trading.

Meanwhile, JXG (Janashakthi Group) has said its initial public offering, which opened and closed on April 9, was oversubscribed. The issue offered shares at 10 rupees a piece. (Colombo/Apr21/2026)