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Friday October 16th, 2026

Sri Lanka main opposition cries foul over JVP potshots at bus campaign

ECONOMYNEXT – With Sri Lanka on the verge of a widely anticipated election, which may or may not be held as scheduled in March, tensions seem to be brewing between the two main challengers to the ruling party that the opposition says is poised for defeat.

The main opposition the Samagi Jana Balawegaya is already crying foul over criticisms levelled at its leader by fellow opposition party the Janatha Vimukthi Peramuna (JVP), whose leadership has allegedly mocked a school bus donation campaign by SJB leader Sajith Premadasa.

The JVP’s apparently pithy comments were not to the liking of SJB frontliner and former MP Hirunika Premachandra, who at a press conference in Colombo expressed her disappointment at the low-blows.

Premachandra claimed that JVP leader Anura Kumara Dissanayake had recently gone on a live television programme and spent a majority of its airtime not criticising the government but taking potshots at the leader of the opposition.

The JVP leader and another party senior had also made disparaging remarks about the bus donation at one of the very schools the SJB had donated buses to, she claimed.

“The SJB is engaged in politics against the government. We believe the JVP too is engaged in politics against the government. So who should be the common enemy of both camps? It should be the government, which is hurting the people of this country,” said Premachandra.

“But since of late, the JVP is not talking about the government. They’re talking about Sajith Premadasa donating buses. They claim Sajith Preamadasa never had a childhood, that he is distributing buses, that he’s playing basketball,” she said.

Taking a potshot of her own at the JVP, Premachandara said: “There are some people who in their school days would be involved in various [extracurricular] activities like playing basketball and the piano and photography and all that and become skilled at them. Then there are people who rarely went to school or bunked school if they did go and after leaving school without even doing Advanced Levels join some guerilla group and set fire to people’s homes in the guise of doing politics.”

Premachandra claimed that her party’s leader’s campaign to donate buses to school, a valuable gesture that would benefit hundreds of students for years to come, was being criticised because Premadasa had his own signature way of doing things.

“Sajith Premadasa’s conduct is different to that of the ordinary politician. If he visits a school, he’ll play with the students there. If he donates a bus, he’ll drive it. So some people may see this as different.”

Premachandra said the SJB has donated 67 school buses so far. However, she did not reveal the sources of funds for the buses.

The JVP is not the only party to make thinly veiled digs at the SJB’s bus campaign. Following discussions with the ruling Sri Lanka Podujana Peramuna (SLPP) on Tuesday on forming an alliance with the United National Party (UNP) for the local government elections, UNP general secretary Palitha Range Bandara said to reporters: “[The SJB] may prove a challenge in a bus race, but not in an election.” (Colombo/Jan11/2023)

Sri Lanka stocks trend up, ASPI gains 0.60-pct

ECONOMYNEXT — Sri Lanka’s Colombo Stock Exchange opened up on Friday, CSE data showed, with the benchmark All Share Price Index moving up 0.60 percent.

The ASPI was up 119.48 points at 20,090.63, while the more liquid S&P SL20 was up 0.63 percent, or 36.09 points, at 5,735.11.

Positive contributors to the ASPI were Dialog Axiata (up 3.29 percent at 43.90 rupees), Commercial Bank of Ceylon (up 0.51 percent at 199.00 rupees), Sri Lanka Telecom (up 4.54 percent at 82.90 rupees), and Sampath Bank (up 1.45 percent at 140.00 rupees).

Distilleries Company of Sri Lanka (down 1.57 percent at 50.00 rupees), Ambeon Holdings (down 3.98 percent at 31.40 rupees), Tokyo Cement Company (Lanka) (down 2.28 percent at 72.80 rupees), Singer (Sri Lanka) (down 0.56 percent at 70.60 rupees), and Ceylon Tobacco Company (down 0.56 percent at 1,768.00 rupees) were top negative contributors.

Market turnover was 170.32 million rupees. Capital goods led turnover with 36.64 million rupees. (Colombo/Oct16/2026)

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Sri Lanka rupee at 331.15/25 to US dollar spot, bond yields steady

ECONOMYNEXT – Sri Lanka’s rupee was quoted flat at 331.15/25 to the US dollar in the spot market on Friday, while bond yields were steady, dealers said.

A bond maturing on 15.10.2028 was quoted flat at 10.60/70 percent.

A bond maturing on 15.06.2029 was quoted at 10.95/11.05 percent.

A bond maturing on 15.10.2030 was quoted at 11.41/45 percent, up from 11.40/45 percent.

A bond maturing on 01.12.2031 was quoted at 11.65/73 percent, up from 11.65/70 percent.

A bond maturing on 15.12.2032 was quoted at 11.75/90 percent, up from 11.75/85 percent.

A bond maturing on 15.01.2033 was quoted at 11.85/95 percent, up from 11.95/12.00 percent.

A bond maturing on 15.10.2034 was quoted flat at 12.20/30 percent.

The telegraphic transfer rate for the dollar was 326.70 buying, 335.70 selling; the euro was 363.6850 buying, 377.4658 selling; pound was 432.5942 buying, 446.7026 selling.

On the Colombo Stock Exchange the All Share Price Index was up 0.56 percent, or 111.97 points, at 20,083; while the S&P SL20 was up 0.63 percent, 35.68 points, at 5,734. (Colombo/Oct16/2026)

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Sri Lanka services expands at slower rate in September 2026: PMI

ECONOMYNEXT – Sri Lanka’s services sector expanded at a slower rate in September 2026, according to a Purchasing Managers Index compiled by the central bank, which registered an index value of 60.5, compared to 65.6 the previous month.

“Business Activity increased in September 2026, reflecting improvements across several sub-sectors, led by financial services, with notable contributions from education and professional services,” CBSL said.

New businesses increased in September 2026, registering 60.9 from August’s 60.0, due to the expansion in the financial services, with positive contributions from the insurance, education, professional, and other personal services sub-sectors.

Employment increased in September, “as firms across several sectors increased recruitment to meet operational needs and support business expansion”.

Backlogs of Work declined in the month, although at a slower rate compared to the previous month.

Broader global economic uncertainties continued to pose downside risks to the outlook, CBSL said. (Colombo/Oct15/2026)

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Sri Lanka manufacturing PMI steady at 53.0 in September, growth continues

ECONOMYNEXT – Sri Lanka’s manufacturing sector expanded at a steady rate in September 2026, registering a value of 53.0 on a Purchasing Managers Index compiled by the central bank, same as the previous month.

“This indicates that manufacturing activities continued to expand at a similar pace during the month,” CBSL said, noting the outlook remains positive, driven largely by optimism on year-end seasonal demand.

The New Orders sub-index expanded in the month, registering 51.0, attributed to positive developments in both the food and beverages and textiles and wearing apparel manufacturing sectors.

The Production sub-index also registered 51.0, for the same reason.

The Employment sub-index expanded at a slower pace, registering 52.6, from the previous 54.8.

The Stock of Purchases sub-index moderated towards the neutral threshold, “indicating broadly unchanged inventory levels during the month,” CBSL said.

Suppliers’ Delivery Times sub-index remained lengthened in September. (Colombo/Oct15/2026)

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Sri Lanka rupee closes at 331.15/25 to US dollar spot, bond yields steady

ECONOMYNEXT – Sri Lanka’s rupee closed flat at 331.15/25 to the US dollar in the spot market on Thursday, while bond yields closed steady, dealers said.

A bond maturing on 01.08.2030 closed flat at 11.35/40 percent.

A bond maturing on 15.10.2030 closed at 11.40/45 percent, up from 11.37/43 percent.

A bond maturing on 01.02.2031 closed flat at 11.45/50 percent.

A bond maturing on 15.12.2032 closed flat at 11.75/85 percent.

A bond maturing on 15.10.2034 closed at 12.20/30 percent, up from 12.12/20 percent. (Colombo/Oct15/2026)

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Sri Lanka’s Sampath Bank to raise Rs10bn in debenture sale

ECONOMYNEXT – Sri Lanka’s Sampath Bank plans to raise 10 billion rupees through the issuance of Basel III-compliant debentures, it said in a market filing.

Up to 100 million listed, rated, unsecured, subordinated, redeemable 5-year (2026/ 2031) and 7-year (2026/ 2033) instruments will be offered at 100 rupees each.

The proposed instruments will carry a non-viability conversion feature, the company said.

Initially 70 million debentures will be issued, and another 30 million in the event of an oversubscription of the initial issue.

Fitch rates Sri Lanka Sampath Bank’s Rs10bn debenture issue A(lka)

The issue has received CSE approval.

The subscriptions list opens on October 20. (Colombo/Oct15/2026)

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