Business360LK ⚡ 🇱🇰

Zero-lag Sri Lankan Business News

Stay informed while you drive

NOW PLAYING

1 / 5
Uncategorized

⚠️ Notice: Summary Unavailable

• Status: Unable to generate summary based on provisional network status. • Details: The source content from FT.lk could not be retrieved due to a connection timeout.

1:03-1:57
75%
🎧

Listen to Today's Business News Playlist

🚗

Listen While Driving

⚡️

Real-Time Updates

🎯

Smart Playlists

Latest Business News

Uncategorized

(61)

⚠️ Notice: Summary Unavailable

• Status: Unable to generate summary based on provisional network status. • Details: The source content from FT.lk could not be retrieved due to a connection timeout.

Read more →

📈 Sri Lankan Business News Update

• Data Status: Unable to process summary due to incomplete input data. • Issue: Article content from ft.lk could not be retrieved due to a connection timeout error on August 15, 2026. • Note: Update pending receipt of valid news content.

Read more →

⚠️ Data Unavailable: Could Not Extract Report

• Status: The attempt to retrieve the requested Sri Lankan business news content failed due to a connection timeout (_www.ft.lk_). • Impact: Detailed data, market performance metrics, and sector breakdowns are currently unavailable. • Note: This update is based on provisional technical error logs as of 14 August 2026. Please provide the article text directly for a complete summary.

Read more →

📈 Error Reporting: Unable to Retrieve Latest Sri Lankan Business News

• Status: The connection to the news source (_www.ft.lk_) timed out during content extraction. • Details: Failed to retrieve full text due to an HTTPS read timeout error as of 14 August 2026, 05:07 AM. • Note: Market and economic data summary is unavailable due to incomplete source data.

Read more →

⚠️ Unable to Generate Summary: Data Extraction Error

• Status: Content extraction from the source (_www.ft.lk_) timed out. • Details: No article content or financial data was retrieved. _Please provide the news text or try again shortly based on provisional data availability._

Read more →

⚠️ Data Retrieval Error: Sri Lanka Business & Economic News

• Status: Unable to generate news summary based on provisional network status. • Details: Failed to extract content from _www.ft.lk_ due to a connection timeout at 2026-08-13 08:11:05. • Note: Please provide alternative text or retry the data feed to obtain the latest updates on key sectors like tea, apparel & textiles, and ICT/BPM.

Read more →

🎶 'Swar Sangam' Concert in Colombo Marks India’s 80th Independence Day

• Event Details: The 'Swar Sangam' concert will take place on Saturday, 15 August, from 6:00 p.m. onwards at the Grand Marquee - Taj Samudra, Colombo, to commemorate India's forthcoming 80th Independence Day. • Featured Performers: The event features Indian Veena Maestro Shri. Rajhesh Vaidhya alongside Sri Lankan artist Yohani. • Cultural Significance: Curated as a musical extravaganza to reflect and strengthen the deep-rooted cultural bond between India and Sri Lanka.

Read more →

⚠️ Summary Unavailable: News Content Extraction Error

• Status: Unable to generate a market summary due to a technical error while retrieving content from _www.ft.lk_. • Details: The request timed out (connection read timeout), leaving article data incomplete and unavailable. • Note: Further analysis will be provided once full content from the source is successfully processed.

Read more →

📈 Sri Lankan Business & Economic News Update

_Note: Summary unavailable based on provisional system data._ • Status: The full news report from FT.lk could not be retrieved due to a temporary network timeout error. • Details: Content extraction for the scheduled news update timed out on August 13, 2026.

Read more →

⚠️ Data Extraction Error

• Status: The system failed to retrieve the news content from the source due to a connection timeout. • Details: Unable to establish a stable connection with www.ft.lk at 2026-08-13 06:17:06 UTC (Read timed out). • Impact: Summary cannot be generated as no underlying business, market, or economic data was provided. _Note: Please provide the text or re-try fetching the article to generate the summary._

Read more →

⚠️ Unable to Generate Summary: News Content Unavailable

• Issue: The source content could not be retrieved due to a network timeout error while connecting to the source (`www.ft.lk`). • Status: Missing data prevents an accurate, professional, and unbiased economic news summary at this time.

Read more →

⚠️ Sri Lanka Economic & Market Summary

• Content Extraction Failure: Unable to generate summary due to a technical error retrieving data from Daily FT (_read timeout error_). • Data Status: No factual data available for processing. Detailed breakdown pending data availability.

Read more →

Regulatory & Policy News

(81)

🚗 Govt Extends 50% Vehicle Import Duty Surcharge to Year-End 📈

The Sri Lankan Government has officially extended the temporary 50% surcharge on Customs Import Duty for selected motor vehicle imports through 31 December 2026. • Scope & Coverage: Applies to both General and Preferential Customs Import Duties on selected passenger and goods vehicles, including petrol, diesel, hybrid, and electric vehicles. • Gazette Notification: Issued under Extraordinary Gazette No. 2501/88 (dated 13 August) by President Anura Kumara Dissanayake in his capacity as Minister of Finance, Planning and Economic Development. • Exemptions & Conditions: - Vehicles with Letters of Credit (LCs) established on or before 15 May 2026 are generally exempt. - Surcharge will apply if LC details are subsequently amended (including vehicle count, VINs, descriptions, technical specs, or expiry dates). - Surcharge applies if the shipped-on-board date on the Bill of Lading or Airway Bill is after 15 November 2026.

Read more →

📢 IRD Postpones Mandatory Revised VAT Invoice Format to October 1

• Implementation Extension: The Department of Inland Revenue (IRD) has officially delayed the mandatory adoption of the revised Value Added Tax (VAT) invoice format. The new effective date is now October 01, 2026, pushed back from the original July 01, 2026 deadline. • Legal Authorization: Commissioner General of Inland Revenue Rukdevi Perpetua Himali Fernando issued Gazette Extraordinary No. 2500/106 on August 06, 2026, exercising powers under Section 20 of the Value Added Tax Act, No. 14 of 2002. • Specifications Unchanged: The directive amends the previous notice published in March 2026. All underlying requirements, formats, and technical specifications outlined in the original March gazette remain fully intact. • Business & Compliance Impact: The extension provides necessary lead time for VAT-registered businesses operating across key domestic sectors—including wholesale & retail trade, manufacturing, and services—to update their billing and accounting systems to comply with the revised format.

Read more →

Govt to Lease Underutilised Plantation Land to Returning Young Migrant Workers 📈

The Cabinet has approved a long-term leasing initiative to attract capital, skills, and foreign exchange contributions from overseas-employed Sri Lankans by making productive use of State lands. • Overall Allocation & Scope Total Land Earmarked: 247 hectares of underutilised State plantation land. Land Allocation Breakdown: • Sri Lanka State Plantations Corporation (SLSPC): 117 hectares • Janatha Estates Development Board (JEDB): 88 hectares • Elkaduwa Plantation Ltd: 42 hectares Individual Eligibility: 1 to 4 hectares per selected applicant. • Criteria for Applicants Target Group: Returning Sri Lankan foreign workers with 3+ years of overseas employment during the past 10 years, or current foreign workers employed abroad for 3+ years. Age Limit: Up to 50 years. Selection Method: Formal procurement process established by the Plantations and Community Infrastructure Ministry. • Eligible Investment Sectors Plantations & Agriculture Plantation-related Tourism Livestock Development Renewable Energy (Hydropower & Solar energy) Factory-based Manufacturing Freshwater Fisheries & innovative business ventures

Read more →

🐘 Call to Reconsider Proposed Animal Welfare Bill Over Impact on Heritage & Tourism

• Overview: Concerns have been raised regarding broad executive powers in the proposed Animal Welfare Bill to penalise and imprison elephant owners, which critics warn could discourage private ownership and temple custody of tamed elephants. • Sector Breakdown & Key Impacts: • Tourism: Administrative restrictions impacting traditional processions like the Esala Perahera could negatively affect Sri Lanka's culture and national tourism industry. • Agriculture: Disincentivising captive care risks worsening human-wildlife conflicts, adding pressure on local agriculture communities affected by crop damage. • Cultural Heritage: Elephants serve as vital cultural symbols in Sri Lanka, maintaining long-standing royal and religious traditions such as carrying the Sacred Tooth Relic during annual pageants. • Key Recommendations: Stakeholders urge the government to carefully review the legislation and establish balanced, practical guidelines for domesticated elephant management alongside measures against genuine animal cruelty.

Read more →

📈 Beneficial Ownership Rules Risk Uneven Playing Field for Investors

• Key Issue: Sri Lanka’s beneficial ownership disclosure regime under the Companies Act, No. 12 of 2025, creates practical hurdles and investment delays. • Administrative Conflict: While the Act places the legal obligation to disclose beneficial ownership on shareholders, prescribed declarations force Company Secretaries, Directors, and officers to independently verify and certify accuracy. • Impact on Investment: Complex ownership structures—such as overseas holding companies, trusts, and proxies—make independent verification difficult, leading some Company Secretaries to decline signing incorporation documents. • Liability Concerns: Company Secretaries face long-term personal exposure for certifying information outside their knowledge, risking an uneven playing field for incoming investors. • Proposed Solutions: Immediate regulatory amendments to the prescribed declaration are recommended to exempt Company Secretaries from verifying matters beyond their direct knowledge, avoiding prolonged incorporation delays.

Read more →

📈 Sri Lanka Faces Post-GSP+ Trade Challenge After Upper-Middle-Income Upgrade

• Overall Classification & Economic Context: Sri Lanka has regained upper-middle-income status, as recognized by the World Bank, marking macroeconomic stabilization since the 2022 economic collapse. However, maintaining this classification for 3 consecutive years will disqualify the nation from EU GSP+ tariff concessions under the current rules. • Key Sectors & Market Vulnerabilities: The EU remains Sri Lanka's single most critical export market. Duty-free GSP+ access is crucial to maintaining the competitiveness of key industries, particularly apparel & textiles, which risk exposure to higher tariffs against regional competitors. • Strategic Action Plan & Alternatives: • Task Force: The government must form a high-level task force comprising officials, trade experts, diplomats, and private sector leaders to formulate a contingency strategy. • Structural Competitiveness: Shift export strategy away from tariff reliance toward productivity, technology, quality, logistics, skill development, and sustainability. • Alternative Agreements: Formal diplomatic engagement must begin immediately to negotiate a comprehensive Free Trade Agreement (FTA) or Preferential Trade Agreement (PTA) with the EU. • Institutional Readiness: Strengthen key institutions, specifically the Department of Commerce and the Sri Lankan Embassy in Brussels, with specialized competence.

Read more →

Safeguarding Sri Lanka’s Trade Integrity via Certificates of Origin 📈

• Critical Trade Security: Certificates of Origin (CoOs) have become crucial compliance documents protecting Sri Lanka’s key export industries—including tea, apparel & textiles, spices, rubber, and fisheries—against transshipment fraud, trade sanctions, and anti-dumping measures. • Rules of Origin (RoO) Criteria: - Wholly Obtained: Applies to products 100% sourced locally (e.g., pure Ceylon tea or raw cinnamon). - Substantial Transformation: Requires imported raw materials to undergo major local processing through Change of Tariff Classification (CTC), Local Value Addition (LVA), or specific process criteria. • Preferential vs. Non-Preferential CoOs: - Preferential (P-CoO): Issued exclusively by the Department of Commerce under bilateral/multilateral agreements (e.g., ISFTA, PSFTA, EU GSP+) requiring 25%–35% Domestic Value Addition for tariff concessions. - Non-Preferential (NP-CoO): Issued by authorised Trade Chambers for standard commercial validation, currently adhering to an administrative guideline of at least 25% LVA. • Fraud Prevention & Global Standards: - WCO Minimal Processing: Basic cleaning, simple assembly, sorting, dilution, or relabeling cannot confer Sri Lankan origin regardless of local markup. - Strict Verification Required: Trade Chambers must conduct factory audits, verify raw material trails, and accurately report entrepôt/re-export trade to prevent circumvention penalties. - Environmental & Labour Mandates: Compliance with US forced labor standards and EU regulations (CBAM and Deforestation Regulations) is essential to protect Sri Lanka’s global trade reputation.

Read more →

📈 IRD Issues Revised Guidance on Quarterly Income Tax Instalment Formula

The Inland Revenue Department (IRD) released Circular No. SEC/2026/E/06 (Revised) detailing rules for calculating quarterly income tax instalments under Section 90 of the Inland Revenue Act, effective from Y/A 2026/2027 onward. • Statutory Due Dates & Formula: • Due Dates: August 15 (1st), November 15 (2nd), February 15 (3rd), and May 15 of next year (4th). • Formula: (A − C) ÷ B • A: Gross tax payable of preceding year (before credits/reliefs). • B: Remaining instalments including current (4 for Aug, 3 for Nov, 2 for Feb, 1 for May). • C: Tax already paid/withheld (instalments, WHT/AIT, foreign tax credits under Sec 80). • Calculation Methods: • Method 1 (Standard Basis): Mandatory if preceding year had taxable income. • Example: Hardware shop owner (hardware) pays Rs. 67,500; liquor manufacturer (beverages/manufacturing) pays Rs. 185.52 Mn for 1st instalment. • Method 2 (Alternative Basis): For zero preceding taxable income, expected lower income, or new registrants (requires Attachment 1 or 2 filing by Aug 15). • Biscuit manufacturer (food manufacturing): Adjusted loss set-off leads to Rs. 35.55 Mn 1st instalment. • ICT/BPM software developer: Post-BOI exemption tax produces Rs. 1.65 Mn 1st instalment. • Method 3 (Safe Harbour): Case-by-case petition to IRD for exceptional market disruptions. • Key Carve-Outs & Compliance: • Employees: Fully exempt from instalments if income is solely from employment covered by APIT, or if passive rental/interest AIT fully covers liability. • Deadlines: Monthly Credit Schedule due by end of instalment month (e.g., Aug 31). Mid-year revisions allowed before Oct 31 (for Nov), Jan 31 (for Feb), and Apr 30 (for May).

Read more →

🚨 Treasury Faces Over Rs. 400 Mn Loss Due to Customs Delay

• Overall Revenue Loss: Sri Lanka Customs has failed to recover penalties and duties following the illegal export of eight containers of scrapped copper in 2014, resulting in a loss of over Rs. 431 Mn to the national coffers. • Penalties Imposed: - An initial penalty of Rs. 529.68 Mn was imposed on the principal offender involved in copper exports, later mitigated to Rs. 176.55 Mn. - Three additional mitigated penalties of Rs. 85 Mn each were levied on related individuals. - Customs forfeited 32,140 kg of scrapped copper across two detained containers, valued at Rs. 31.84 Mn combined (Rs. 17.27 Mn and Rs. 14.57 Mn). • Regulatory & Judicial Status: - Inquiry proceedings concluded in May 2017 were challenged in court. In May 2018, the Court of Appeal directed Customs to recommence and finalize the inquiry. - Nine years later, Customs has failed to conclude the inquiry or enforce collection, based on official records and whistleblower reports.

Read more →

📜 Legal Recognition and Forest Access Granted to Sri Lanka’s Indigenous Communities

• Government Initiative: Prime Minister Dr. Harini Amarasuriya announced new measures to grant legal identification and formal recognition to Sri Lanka’s Indigenous communities during World Indigenous Peoples’ Day 2026. • Key Policy Actions: • An Extraordinary Gazette has been signed under the Ministry of Environment to register Indigenous communities and issue legal identity documents. • Provisions allow official entry into forests to sustain traditional livelihoods, cultural practices, and daily activities. • Legislative Progress: • The long-awaited Indigenous Peoples Bill has been formally submitted to the Cabinet. • Cabinet discussions on the proposed legislation are scheduled to commence this week following intervention by the Minister of Buddhasasana, Religious and Cultural Affairs. • Background: The framework addresses longstanding representations made by Indigenous Leader Uruwarige Wannila Aththo to safeguard rights, traditional heritage, and socio-economic integration.

Read more →

📈 Sri Lanka Data Protection Compliance Framework Effective 1 Jan. 2027

• Core Timeline & Mandate: Key provisions of the Personal Data Protection Act, No. 9 of 2022 will officially become operational on 1 January 2027, as appointed via Extraordinary Gazette No. 2498/16. • Key Operational Areas: • Scope & Legality: Section 2 (scope), Section 3 (relation to written law), and Part I (lawful/transparent data processing) take effect. • Corporate Obligations: Part III introduces requirements for designating Data Protection Officers (DPOs), reporting personal data breaches, and performing Data Protection Impact Assessments. • Cross-Border & Vendor Governance: Framework establishes strict controller-processor contractual rules and oversight on cross-border data transfers affecting sectors handling user data. • Transition Guidance: The Data Protection Authority of Sri Lanka (DPA) urges entities to utilize the remaining transition window to review governance, update contracts, and strengthen safeguards ahead of the 2027 deadline.

Read more →

🚨 CBSL FIU Appeals for Private Sector Support Ahead of APG Evaluation

• AML/CFT Compliance Status: Beneficial ownership transparency is Sri Lanka's sole non-compliant Financial Action Task Force (FATF) recommendation. Implementation of the Companies Act, No. 12 of 2025 framework is urgent ahead of the Third Mutual Evaluation by the Asia/Pacific Group (APG) in late October/early November. • Risks & Economic Impact: FIU Director General Dr. Subhani Keerthiratne warned that another FATF grey listing could severely harm correspondent banking relationships, worsen foreign investment, and raise corporate borrowing costs. IMF data reveals FATF grey listing causes an average 7.6% drop in foreign direct investment (FDI). • Core Vulnerabilities: National risk assessments highlighted private limited companies as key money laundering points, citing cases of phantom import payments directed overseas via shell entities controlled by hidden beneficial owners. Private sector stakeholders are urged to assist in establishing transparent records, with warnings that submitting false disclosures creates direct personal liability.

Read more →

Corporate News

(71)

Five Bidders Shortlisted for Canwill Holdings Divestiture 📈

• Divestiture Progress: The Government shortlisted 5 out of 8 interested parties for the stake sale in State-Owned Enterprise Canwill Holdings Ltd., advancing them to the Request for Proposals (RFP) stage. • International Interest: Indian hospitality firms Chalet Hotels Ltd. and Juniper Hotels Ltd. were pre-qualified by the Ministry of Finance. • Local & Consortium Bids: Three other shortlisted proposals involve Sri Lankan firms, including a consortium of Phoenix Ventures Ltd. and Bluestone Capital Ltd., Ceylon Steel Corporation Ltd., and a joint offer by EML Consultants PLC with Italy’s Kimetal S.r.L. • Key Assets: Canwill Holdings is the parent company of: • Sinolanka Hotels & Spa Ltd.: Developing a 47-storey Grand Hyatt Colombo project featuring 458 hotel rooms and 100 serviced apartments. • Helanco Hotels & Spa Ltd.: Held a 9.42-acre beachfront lease in Hambantota, which expired due to non-initiation of construction. • Process Timeline: Expressions of Interest were called on 24 December 2025, with 8 parties submitting by the 16 March deadline. Shortlisted pre-qualified bidders now proceed to the second-stage RFP process.

Read more →

📈 Janashakthi Life Outperforms Sector with 36% H1 2026 Revenue Growth

• Financial Performance: Gross Written Premiums (GWP) surged 36% YoY to Rs. 5.11 Bn in H1 2026, significantly outpacing the life insurance industry's 20.8% growth rate. Profit Before Tax (PBT) stood at Rs. 271 Mn (excluding period surplus transfer). • Asset Base: Balance sheet assets expanded to Rs. 41.14 Bn as of Q2 2026, up from Rs. 40.37 Bn at the end of 2025, providing a stronger base to support an expanding policyholder network. • Claims & Policyholder Benefits: Paid Rs. 2.24 Bn in claims and benefits during H1 2026, maintaining critical financial protection and security for policyholders. • Sector & Segment Growth: Demonstrated outperformance across all core life insurance segments—regular business, group life, and single premium—while leveraging the broader JXG financial services ecosystem. • Industry Recognition: Named among Sri Lanka’s 50 Best Workplaces™ for 2026 by Great Place To Work® and recognized in Brand Finance’s Sri Lanka 100 Most Valuable Brands.

Read more →

📈 Softlogic Life Delivers LKR 7.2 Bn GWP Growth in 1HFY26

• Financial Performance & Growth Softlogic Life reported its strongest first-half performance for 1HFY26 (ended 30 June 2026). Gross Written Premium (GWP) reached Rs. 26 Bn, representing a 39% YoY increase from Rs. 18.7 Bn in 1H2025, driven by the industry's largest absolute GWP growth of Rs. 7.2 Bn. Profit After Tax (PAT) rose 20% YoY to Rs. 1.46 Bn, while Profit Before Tax (PBT) increased 14% YoY to Rs. 1.98 Bn. • Market Position & Asset Base The company expanded its market share in Sri Lanka's life insurance sector to 20.3% in Q2 2026 (up from 18.4% in FY2025). Total assets increased to Rs. 81.6 Bn, supported by Rs. 61 Bn in financial investments (75% of total assets, with 74% allocated to Government securities). Total equity reached Rs. 14.6 Bn. • Claims & Customer Coverage As the country's leading health and protection claims payer, the insurer paid Rs. 10.4 Bn in total claims and benefits in 1HFY26 (vs. Rs. 9.1 Bn in 1H2025). Over Rs. 7.2 Bn was allocated specifically to health and protection claims. The company now covers 1.8 Mn+ Sri Lankans across 870,000+ active policies. • Strategic Expansion & Diversification Following its acquisition of Allianz Life Insurance Lanka in July 2025, Softlogic Life acquired a 60% controlling stake in Diamond Life Insurance (Bangladesh) in July 2026—marking the first regional acquisition by a Sri Lankan life insurance company.

Read more →

📈 Janashakthi Finance Q1 FY 2026/27 Profit Surges 51%

• Overall Performance • Net Profit After Tax (NPAT): Rs. 90.4 Mn (up 50.9% YoY vs Rs. 59.9 Mn) • Profit Before Tax (PBT): Rs. 138.2 Mn (up 27.1% YoY vs Rs. 108.8 Mn) • Net Operating Income: Rs. 837.8 Mn (up 24.7% YoY vs Rs. 671.6 Mn) • Core Lending & Deposits • Loans & Receivables Portfolio: Rs. 34.5 Bn (up 44.7% YoY vs Rs. 23.8 Bn), demonstrating strong expansion in its finance & leasing core operations • Total Deposit Base: Rs. 18.3 Bn (up 8.1% YoY vs Rs. 16.9 Bn) • Strategic Focus • Driven by solid growth in core non-bank financial institution (NBFI) services, disciplined balance sheet management, and credit expansion under parent group JXG (Janashakthi Group).

Read more →

First Capital Navigates Market Volatility in Q1 FY2026/27 📉

• Overall Financial Performance First Capital Holdings PLC recorded a Loss after Tax of Rs. 726Mn for Q1 FY2026/27 (ended 30 June 2026), compared to a Profit after Tax (PAT) of Rs. 2.15Bn in Q1 FY2025/26. Net Trading Loss before Operating Expenses stood at Rs. 565Mn versus Net Trading Income of Rs. 3.43Bn YoY. Results were impacted by Middle East geopolitical tensions and a 100 bps policy rate hike by the Central Bank of Sri Lanka. • Sector & Division Breakdowns • Primary Dealer (Fixed Income): Loss after Tax of Rs. 741Mn (vs. PAT of Rs. 1.55Bn YoY). Net interest income was Rs. 351Mn (vs. Rs. 503Mn YoY), alongside a Rs. 1.80Bn trading loss on government securities (vs. Rs. 2.06Bn gain YoY). • Corporate Finance Advisory & Corporate Dealing Securities: PAT of Rs. 22Mn (vs. Rs. 587Mn YoY). • Wealth Management: PAT of Rs. 6Mn (vs. Rs. 27Mn YoY). Assets Under Management (AUM) stood at Rs. 93.3Bn (vs. Rs. 96.2Bn as of 31 March 2026). • Stock Brokering: PAT of Rs. 24Mn (vs. Rs. 32Mn YoY). • National Context & Sustainability Despite rate volatility in fixed income, diversification across capital markets provided earnings support. The Group also secured ISO 14064 GHG emissions verification for 2025/26 via the Sri Lanka Climate Fund, supporting sustainable standards in Sri Lanka's financial services sector.

Read more →

📈 Ceylinco Life Surpasses Rs. 300 Bn Assets Milestone

Sri Lanka’s market leader in life insurance, Ceylinco Life, has crossed Rs. 300 billion in total assets, reinforcing its financial strength and capital stability. • Asset Growth & Milestones: Total assets reached Rs. 302.5 Bn as of June 30, 2026, growing by Rs. 15.65 Bn (+5.45%) in H1 2026 at an average monthly rate of Rs. 2.58 Bn. This builds on 2025 asset growth of +14.15% (Rs. 287 Bn). • Capital & Risk Resilience: Reported a Risk-Based Capital Adequacy Ratio (CAR) of 406%, significantly above the mandatory regulatory minimum of 120%. • Financial & Market Context: 2025 performance recorded gross written premium income of Rs. 44.18 Bn, total income of Rs. 72.43 Bn, and a Life Fund exceeding Rs. 200 Bn, marking its 22nd consecutive year of market leadership. • Asset Quality & Expansion: Driven primarily by financial investments and real estate expansion, including ongoing construction of its 36th company-owned eco-friendly branch building.

Read more →

📈 DFCC Bank 1H 2026: Core Franchise Expands Amid Macro Tightening

• Financial Performance: Group Profit After Tax (PAT) stood at Rs. 4.1 Bn (Bank PAT: Rs. 3.9 Bn, down YoY as prudential impairment buffers were reinforced). Total Tax Expense reached Rs. 3.7 Bn (49% tax rate on operating profit). Net Interest Income grew 6% YoY to Rs. 16.1 Bn with a Net Interest Margin of 3.66%. • Core Growth & Balance Sheet: Total assets reached Rs. 921 Bn (Group) / Rs. 919 Bn (Bank, up 7% YTD). Loans grew 9% YTD to Rs. 564 Bn (up 20% over 12 months), while deposits rose 12% YTD to Rs. 632 Bn. CASA ratio improved to 24.99%. • Fee Income & Asset Quality: Net fee and commission income surged 29% YoY to Rs. 4.2 Bn, driven by trade-related commissions and credit card portfolio expansion. Net Stage 3 impaired loan ratio improved to 3.61% (from 4.55% at end-2025). Impairment charges rose to Rs. 4.6 Bn. • Strategic Expansion: Completed acquisition of Standard Chartered Bank’s Sri Lanka Wealth & Retail Banking business (effective 1 Aug 2026), adding ~50,000 accounts, ~260 staff, and expanding network to 139 locations. • Capital & Liquidity: Total Capital Adequacy Ratio maintained at 15.75% (Group). Tier 1 ratio stood at 11.95%. Blue Bond secured supplementary listings on Luxembourg Stock Exchange and India INX (GIFT City). Currently processing up to LKR 15 Bn Basel III Tier II debenture issue.

Read more →

📈 ComBank Group Deposits Cross Landmark Rs. 3 Tn Threshold in 1H 2026

The Commercial Bank of Ceylon Group has become Sri Lanka’s first private sector banking & financial services group to surpass Rs. 3 Tn in total deposits, driven by robust balance sheet expansion in the first half of 2026. • Deposit & Asset Milestones - Group deposits reached Rs. 3.02 Tn (+20.33% YoY over 12 months; up Rs. 315.13 Bn in 6 months). - Total assets expanded by 10.68% in 6 months (+19.42% YoY) to Rs. 3.74 Tn. • Lending & Revenue Growth - Gross loans and advances rose to Rs. 2.36 Tn (+36.07% YoY; up Rs. 270.43 Bn in 6 months). - Gross income increased 18.28% YoY to Rs. 209.16 Bn for 1H 2026 (Q2 alone up 24.04% to Rs. 110.16 Bn). - Net interest income grew 15.81% YoY to Rs. 79.69 Bn. • Profitability & Financial Health - Net profit after tax reached Rs. 35.42 Bn for 1H 2026 (+13.66% YoY); Q2 net profit grew 7.98% to Rs. 17.49 Bn. - Impairment provisions increased 33.44% YoY to Rs. 14.85 Bn as a prudential buffer against global volatility. - Asset quality improved, with the net Stage 3 impaired loans ratio falling to 1.38% (vs. 1.54% at end-2025). • Capital & Operational Ratios - Tier 1 Capital Ratio stood at 13.23% (regulatory minimum: 10%); Total Capital Ratio at 16.58% (regulatory minimum: 14%). - Return on Equity (ROE) improved to 20.28% (vs. 19.51% at end-2025). - Cost-to-income ratio (excl. financial taxes) improved to 27.82% (vs. 29.66% in 2025).

Read more →

📈 Nations Trust Bank PAT Soars 77% to LKR 15.6 Bn in 1H 2026

• Overall Financial Performance - Profit After Tax (PAT): LKR 15.6 Bn, up 77% YoY (Q1: LKR 4.6 Bn, followed by strong Q2 acceleration) - Profit Before Tax (PBT): LKR 18.4 Bn, up 7% YoY - Return on Equity (ROE): 31.33% - Net Interest Margin (NIM): 5.58% • Loan Growth & Capital Position - Loan Expansion: LKR 112 Bn, up 26% YoY - Overall Asset Growth: Up 26% - Net Stage 3 Ratio: 1.05% - Tier I Capital Ratio: 12.76% - Total Capital Adequacy Ratio: 16.41% • Strategic Drivers & Key Sectors - Performance boosted by the acquisition of HSBC Sri Lanka's retail banking business (effective May 2026) and a one-off tax credit. - Strategic integration consolidated market leadership in credit cards & premium retail banking, expanding scale across consumer, commercial & corporate banking segments.

Read more →

📈 Janashakthi PLC to Acquire 100% Stake in Continental Insurance Lanka Limited

Janashakthi PLC (JXG) has signed a Share Purchase Agreement with Melstacorp PLC (MELS) to acquire a 100% stake in Continental Insurance Lanka Limited (CILL), subject to Insurance Regulatory Commission of Sri Lanka (IRCSL) approval. • Acquisition Structure: • Initial controlling stake of 81% • Remaining 19% acquired on a staggered basis (9% in Year 1, 10% in Year 2) • CILL Financial Overview (FYE25): • Gross Written Premium (GWP): LKR 10.73 Bn • Investment Portfolio: LKR 6.64 Bn • Total Assets: LKR 14.20 Bn • Strategic Impact: • Re-enters and expands footprint in Sri Lanka's general insurance and financial services sector • Integrates CILL’s network of 61 business locations and 700+ employees into JXG's ecosystem • Leverages technology to drive innovation and integrate broader financial solutions

Read more →

📈 Sampath Bank H1 2026: PAT Rises 13% YoY to Rs 16.6 Bn

Sampath Bank PLC reported a robust financial performance for the six months ended 30 June 2026, driven by core revenue growth and strong credit expansion. • Overall Financial Highlights • Profit After Tax (PAT): Rs 16.6 Bn (+13% YoY) • Total Operating Income: Rs 63.3 Bn (+17% YoY) • Net Interest Income (NII): Rs 42.8 Bn (+11% YoY) • Net Fee & Commission Income: Rs 12.2 Bn (+26% YoY) • Total Exchange Income: Rs 7.2 Bn (+198% YoY), aided by LKR depreciation against the USD (by Rs 26.12) • Impairment Charge: Rs 5.0 Bn (+324% YoY) due to loan expansion and prudent overlay provisioning • Cost-to-Income Ratio: 41.7% (vs 40.0% in H1 2025) • Balance Sheet & Growth Trends • Total Assets: Rs 2.13 Tn (+8% vs end-2025) • Gross Loans & Advances: Expanded by Rs 226 Bn (+18%) to Rs 1.45 Tn, supporting core sectors like agriculture and general commerce • Customer Deposits: Rs 1.76 Tn (+Rs 118 Bn / +7.1% vs end-2025) • Net Interest Margin (NIM): Improved to 4.21% (vs 4.11% in 2025) • Capital, Liquidity & Sustainability • Capital Ratios: CET1 at 13.21%, Total Capital at 15.62% (well above regulatory minimums) • Capital Injection: Issued a Rs 10 Bn Basel III-compliant Green Bond in July 2026 • Liquidity: Liquidity Coverage Ratio (LCR) stood strong at 185.04% • ESG/Community: Restored Hurigaswewa Wewa tank to support rural agriculture (307 farming families) and launched waste management & eco-tourism initiatives.

Read more →

📈 Cargills Bank 1H 2026 Profit After Tax Reaches Rs. 181 Mn

• Core Financial Highlights: • Profit Before Tax (PBT) stood at Rs. 362 Mn, down 22% YoY, primarily due to an 89% drop in total other income to Rs. 55 Mn. • Net Interest Income grew 20% YoY to Rs. 2,207 Mn, supported by expansion in Net Interest Margin (NIM) to 4.64% (up from 4.38% at end-2025). • Net fee & commission income rose 17% YoY to Rs. 516 Mn (up by Rs. 76 Mn), driven by trade, cards, and deposits. • Total Comprehensive Income saw a 122% recovery, turning positive to Rs. 43.2 Mn. • Segment Performance: • Core banking segment PBT surged to Rs. 306 Mn (vs. a Rs. 27 Mn loss in 1H 2025), propelled by a 42% increase in segment net interest income to Rs. 2,055 Mn. • Treasury & investments PBT fell to Rs. 56 Mn (vs. Rs. 491 Mn in 1H 2025) amid lower realized capital gains. • Asset Quality & Operations: • Total impairment charges fell by Rs. 80 Mn to Rs. 100 Mn. • Gross Stage 3 ratio improved to 11.30% (vs. 12.00% at end-2025). • Operating expenses rose 11% to Rs. 2,039 Mn, lifting the Cost-to-Income Ratio to 73.43% due to IT upgrades and talent retention costs in the ICT/BPM and banking infrastructure space. • Balance Sheet & Growth: • Total assets expanded 14% YTD (24% YoY) to Rs. 104.7 Bn. • Net loans grew 15% YTD to Rs. 72.3 Bn, while customer deposits rose 18% YTD to Rs. 77.9 Bn. • Enhanced capital base following a successful Rs. 2.5 Bn Rights Issue, maintaining a Total Capital Ratio of 17.66%.

Read more →

Industry & Sector News

(73)

Govt. Launches ADB-Backed US$ 328 M Power Grid Modernisation Project ⚡📈

• Project Overview: The Power System Strengthening and Renewable Energy Integration Project (PSSREIP), backed by US$ 328.25 Mn in concessional funding from ADB, has commenced under Energy Minister Anura Karunathilaka to modernise national transmission networks and boost renewable energy integration. • Substation Expansions: • Homagama 132/33 kV Grid Substation: Construction launched to meet rising demand across Homagama, Kottawa, Malabe, and Horana, easing load on Pannipitiya and Kosgama sites. • Negombo 132/33 kV Grid Substation: Package 1B addition to support regional tourism, industrial activity, Bandaranaike International Airport expansion, and the proposed Aero City project. Both substations targeted for completion within 2 years. • Transmission & Grid Upgrades: Future investments include a 220/33 kV substation in Mirigama, 132/33 kV substation in Peliyagoda, a 78 km 132 kV line (Hambantota–Matara), and a 2 km underground 132 kV line linking Kelaniya-Kotugoda to Peliyagoda. • Colombo Port Connection: Work began last week on a 220 kV underground transmission cable connecting Kerawalapitiya to Colombo Port to reinforce energy infrastructure for long-term economic growth.

Read more →

📈 UNDP & Ministry Partner to Boost Sri Lanka's Industrial Transformation

The United Nations Development Programme (UNDP) in Sri Lanka and the Ministry of Industry and Entrepreneurship Development (MoIED) have signed an MoU to establish an embedded Expert Support Unit to accelerate industrial growth and SME competitiveness. • Strategic Focus: The unit will deploy multidisciplinary technical experts across SME development, industrial zone development, trade and policy, digital transformation, data analytics, skills development, and international relations. • Economic Impact: Designed to enhance export competitiveness, generate employment, and integrate local industries into global value chains through evidence-based policymaking. • Key Stakeholders: Signed by MoIED Secretary J. M. Thilaka Jayasundara and UNDP Resident Representative Azusa Kubota, in the presence of Deputy Minister Chathuranga Abeysinghe. • Implementation: Facilitates agile deployment of specialists, strengthens project management and monitoring systems, and aims to mobilize funding from private sector and development partners for sustainable implementation.

Read more →

📈 ProFood ProPack & AgBiz 2026 Set for Aug 21-23 at BMICH

Sri Lanka’s premier food processing, packaging, and agribusiness exhibition returns for its 23rd edition, driving regional trade, innovation, and B2B/B2C networking. • Event Scale & Footprint: • Expected turnout: Over 30,000 trade and consumer visitors. • Exhibition space: 450+ stalls across 6 halls. • Global presence: 50+ international participants from countries including China, India, and Germany. • Organizers: Sri Lanka Food Processors Association (SLFPA) and Lanka Exhibition and Conference Services Ltd. • SME Development & Regional Support: • Co-organised with the Industry and Entrepreneurship Development Ministry to strengthen local agribusiness and processed food value chains. • Features a dedicated SME Pavilion providing market access and feedback. • Eligible SMEs receive a 50% discount on stall fees to promote entrepreneurship and market entry.

Read more →

🌿 Yala National Park: Strategic Value of Sri Lanka's Wildlife Tourism

• Sector Context & Overview Yala National Park remains one of Sri Lanka’s most visited national parks, serving as an anchor for wildlife tourism and nature-based tourism. Positioned along the south-eastern coast, it complements Sri Lanka's broader leisure and heritage offerings, including tea country, beaches, and historic sites. • Key Highlights & Biodiversity • Status & History: Sri Lanka’s second-largest national park; designated as a wildlife sanctuary in 1900 and a national park in 1938. • Core Attractions: Famous for an exceptionally high density of Sri Lankan leopards, alongside elephants, sloth bears, wild water buffalo, jackals, and crocodiles. • Avian Diversity: Supports over 200 recorded bird species, attracting both birdwatchers and big-game safari enthusiasts. • Ecosystem Range: Features diverse habitats including dry monsoon forest, open grasslands, wetlands, lagoons, and rocky coastline. • Economic & Experiential Value • Enhances destination competitiveness for high-value international travelers seeking refined safari experiences and experiential travel. • Provides domestic safari tourism opportunities, contributing to regional tourism activity and local economic engagement. _Note: Specific financial data and visitor growth percentages were omitted in the source text._

Read more →

📈 EDB Steps Up Support for Local Jewellery Exporters

• Sector Performance & Targets: - 2025 Total Exports: US$ 334 Mn (gemstones US$ 189 Mn, diamonds US$ 127 Mn, jewellery US$ 17.8 Mn). - 1H 2026 Earnings: US$ 154.24 Mn recorded from January to June 2026. - 2030 Target: EDB aims for US$ 1 Bn in export income, supported by platforms like FACETS Sri Lanka, Gem Sri Lanka, and Gem City Rathnapura. • Key Export Markets: - Gems: Hong Kong, Switzerland, Thailand, United States, and Italy. - Diamonds: Switzerland, Israel, United Arab Emirates, Belgium, and India. - Jewellery: United States, Switzerland, United Arab Emirates, Thailand, and Australia. • Enterprise Readiness Focus: - EDB Chairman led an observation visit to Ashadi Jewellers (Pvt) Ltd (est. 1988, 330 workforce) to enhance international expansion and export readiness. - The manufacturer combines traditional craftsmanship with CAD, CNC precision engineering, laser welding, and advanced gem grading. • Major Event Milestone: - Sri Lanka Expo 2027: To be held January 14–17, 2027, at BMICH, Colombo, connecting local exporters with over 1,500 global buyers and investors.

Read more →

⚡ Cabinet Approves 2.28M MT Coal Procurement for Norochcholai

The Cabinet has approved the procurement of 2.28 million metric tonnes (MT) of coal to ensure uninterrupted electricity generation at the Norochcholai Lakvijaya Power Plant for the 2026/2027 period, strengthening Sri Lanka's energy & power sector security. • Procurement Breakdown: • Total Volume: 2.28 million MT • Aditya Birla Global Trading Singapore Ltd.: 70% (1.596 million MT) • Mohit Minerals Ltd. (India): 30% (684,000 MT) • Key Details: • Awarded through an international competitive bidding process that attracted 9 bids. • Recommended by the High-Level Standing Procurement Committee and authorized by the National Procurement Commission. • Proposal submitted by Energy Minister Anura Karunathilake to safeguard national electricity supply and prevent generation disruptions.

Read more →

⛽ Sri Lanka Approves Major Long-Term Fuel Procurement Contracts

The Cabinet of Ministers has approved long-term supply agreements to secure uninterrupted fuel supplies across the national energy sector through the Ceylon Petroleum Corporation (CPC). Contracts were awarded to Singapore-based Vitol Asia Ltd. and Aditya Birla Global Trading Ltd. following competitive bidding. • Petrol 92 Supply Aditya Birla Global Trading selected from 4 bidders to supply 1.2 Mn barrels (±5%) of Petrol 92 Unleaded. Duration: 1 September 2026 – 28 February 2027 (6 months). • Murban Crude Oil Aditya Birla Global Trading selected from 4 bidders to supply 2.8 Mn barrels (±5%) of Murban crude oil. Duration: 1 November 2026 – 28 February 2027 (4 months). • Diesel Procurement Vitol Asia Ltd. selected from 6 bidders to supply 1.12 Mn tons (±5%) of diesel (0.05% max sulphur content). Duration: 1 September 2026 – 28 February 2027 (6 months). The proposal submitted by Energy Minister Anura Karunathilake strengthens Sri Lanka's overall petroleum & power supply stability and energy infrastructure.

Read more →

📈 Sri Lanka Finance Sector Assets Surge 41% YoY to Rs. 3.2 Tn by June

• Overall Growth: Total sector assets rose to Rs. 3.2 trillion by end-June 2026, up from Rs. 2.8 trillion a year earlier, according to CBSL data. • Lending & Investments: The loan book expanded sharply by 47.8% YoY to reach Rs. 2.6 trillion. Other investments grew 19.7% YoY to Rs. 434 billion. • Funding & Capital: Total deposits increased 22.9% YoY to Rs. 1.43 trillion, while borrowings for on-lending more than doubled, surging 124% to Rs. 1.05 trillion. Equity capital rose 13.4% YoY to Rs. 578.2 billion. • Earnings: Net interest income grew 27.6% YoY to Rs. 72.7 billion. Profit Before Tax increased 17.4% to Rs. 39.9 billion, and Profit After Tax rose 16.4% to Rs. 21 billion. • Asset Quality: Gross non-performing loans (NPLs) improved significantly, dropping to 5.1% from 8.3% a year earlier, while Stage 3 NPLs fell to 3% from 4.5%.

Read more →

📈 NBIA Relaunches to Drive Sri Lanka’s Biotechnology Sector

• Relaunch & Leadership: The National Biotechnology Industry Association (NBIA) has resumed operations under a newly reconstituted Council and Committee, marking a renewed commitment to advance Sri Lanka’s biotechnology industry following a period of inactivity. • Core Mission: Established in 2016, the national representative body aims to strengthen industry-academia collaboration, promote research and innovation, facilitate knowledge exchange, and boost skills development and quality assurance. • Key Sectors Covered: Focus areas include Agricultural Biosystem Technology, Medical Biotechnology, Industrial Biosystem Technology, Marine and Aqua Technology, Energy and Environment, Food Biotechnology, and Bioprocess Technology. • Call for Collaboration: NBIA invites corporates, universities, research institutions, and professionals to collaborate on enhancing the global competitiveness of the ecosystem. Contact the Secretariat at 011 558 8834 for engagement opportunities.

Read more →

📈 Port City Colombo Positioned as Hub for Global Tech & IP Creation

• Sector Overview & Key Figures: - ICT services rank as Sri Lanka’s 3rd largest export sector, according to the Export Development Board (EDB). - The sector encompasses 400+ companies and a workforce of over 140,000 professionals. - Total export value of the ICT/BPM industry currently reaches US$ 2 Bn and continues to grow, as reported by SLASSCOM. • High-Value IP & Defence Tech: - Local talent is generating globally competitive intellectual property, including defence technology and simulation software engineered in Sri Lanka for NATO, US, and UK defence forces. - Demonstrates Sri Lanka's capability to shift from outsourcing services toward high-value R&D and proprietary product development. • Strategic Value of Port City Colombo: - Acts as a springboard for technology exports by providing an international business environment with multi-currency transacting and flexible recruitment. - Offers regulatory certainty, transparency, and operational stability to attract global capital and long-term business investment.

Read more →

📈 Global AI Divide Threatens Economic Parity; Urgent Global Action Needed

• The AI Divide: Artificial Intelligence is rapidly driving global growth, but unequal access threatens to worsen income inequality across three major dimensions: - Corporate Gap: Large corporations gain productivity and profits, while small and medium enterprises (SMEs) struggle to compete due to high costs. - Global Gap: Advanced nations with strong digital infrastructure expand rapidly, leaving developing countries behind. - Social Divide: Wealth concentrates among capital owners, causing job displacement and stagnant wages for workers. • Historical Precedent & Speed: Unlike historical transitions like electricity—where Sri Lanka achieved universal access over decades via domestic policy and aid from multilateral lenders like the World Bank and ADB—AI is evolving at an exponential pace, giving developing nations far less time to adapt. • Global Commitments: China announced at the 2026 World AI Conference that it will offer 5,000 AI training opportunities over five years and set up application centers for regional blocs including BRICS and ASEAN. • Proposed Framework: To avoid fragmentation and geopolitical bias, experts urge creating a Global Action Group driven by development banks (IMF, World Bank, ADB) rather than politicized bodies like the UN, establishing an annual 4-tier index (High, Medium, Emerging, and Low AI) to track equity and guide funding.

Read more →

⚓ Sri Lanka Positioned as South Asia’s Logistics Anchor at CIMC 2026 📈

• Event Overview: Organised by CIMC Events, the Colombo International Maritime and Logistics Conference 2026 (9–11 September) will highlight emerging opportunities in the maritime & logistics sector amidst global supply chain transformations. • Global Trade Shifts: The global shipping and ports sector faces heightened VUCA (Volatile, Uncertain, Complex, and Ambiguous) challenges driven by geopolitical tensions and Gulf disruptions. Traditional port-to-port models are giving way to tech-driven, interconnected logistics ecosystems. • The Trillion-Dollar Free Port Trend: To mitigate global volatility, integrated fulfilment centres and free ports have grown into a US$ 1 Tn global industry. They enable processing, storage, and redistribution—helping traders optimize inventory, mitigate regional delays, and manage cash flow via tax and customs incentives. • Sri Lanka’s Strategic Role: Located along major East-West trade lanes, Sri Lanka offers a natural advantage for expanding free ports and fulfilment operations to circumvent Gulf vulnerabilities. • Economic Impact: Evolving from a transit stop into a tech-driven logistics hub serves as a crucial catalyst for national economic resilience, positioning the country as an indispensable anchor for South Asian and global trade.

Read more →

Politics & Government Impact

(77)

⚖️ UN Expert & Opposition Raise Concerns Over 22nd Amendment

• UN Communication: UN Special Rapporteur Margaret Satterthwaite warned the Government that extending retirement ages for sitting Superior Court judges risks violating international standards on judicial independence and fair trial rights. • Proposed Statutory Changes: The 22nd Amendment increases retirement ages for Supreme Court judges (65 to 67 years) and Court of Appeal judges (63 to 65 years). • Opposition Concerns: Opposition Leader Sajith Premadasa echoed warnings from the legal fraternity and Bar Association of Sri Lanka (BASL), questioning why extensions apply to sitting judges rather than future appointments. • Key Institutional Risks: • Executive/legislative interference perception due to lack of transitional safeguards. • Potential conflicts of interest if judges benefiting from extensions rule on the amendment's constitutionality. • Failure to address the backlog of 1.1 million pending cases. • Next Steps: Opposition calls for public explanation in Sinhala, Tamil, and English, alongside a required referendum prior to enactment. Learn more about these proposed reforms in this [Ada Derana coverage of the 22nd Amendment](https://www.youtube.com/watch?v=LxsyhH9tG0s&vl=te), which provides relevant context on the gazetted bill regarding judges' retirement ages.

Read more →

🇱🇰 Eric Meyer Sworn In as New US Ambassador to Sri Lanka

• Diplomatic Relations: Eric Meyer has officially been sworn in as the new United States Ambassador to Sri Lanka. • Economic Context: The appointment comes at a crucial period for bilateral trade, investment, and strategic economic cooperation between the US and Sri Lanka. • Note: Further specific details regarding trade agreements or policy statements are currently unavailable due to source data limitations.

Read more →

🏛️ Cabinet Approves Rs. 635 Mn Correctional Centre for Drug Rehabilitation in Kekirawa

• Project Scope: The Cabinet of Ministers has approved a Rs. 635 million project to construct a dedicated residential treatment and rehabilitation facility on 1.33 hectares of land in Kekirawa. • Core Objective: The centre addresses critical infrastructure gaps in the current community-based corrections system, specifically targeting court-referred offenders suffering from severe drug and alcohol addiction. • Legal & Social Framework: Issued under the Community-Based Corrections Act, No. 46 of 1999, the initiative aims to rehabilitate minor offenders, foster social reintegration, and enhance their long-term social and economic well-being. • Key Proponent: The proposal was submitted by Minister of Justice and National Integration, Harshana Nanayakkara.

Read more →

🏛️ Cabinet Approves Rs. 232M for Post-Cyclone Religious Site Restoration

The Cabinet of Ministers has approved Rs. 232.07 million in available funds to restore 144 additional religious sites damaged by Cyclone Ditwah, supporting community and cultural recovery. • Overall Impact: A total of 1,328 places of worship across multiple faiths were damaged by disasters associated with Cyclone Ditwah. • Breakdown of Affected Sites: • 758 Buddhist temples • 272 Hindu religious places • 199 Muslim religious places • 99 Christian religious places • Progress & Funding Breakdown: • Renovation is already underway at 256 sites using Rs. 929.69 million. • Initial funding sources include the Buddha Sasana Fund, Central Cultural Fund, and Anagarika Dharmapala Foundation. • Total allocations include Rs. 329.62 million previously approved via Cabinet decisions on 27 April 2026 and 15 June 2026. • Government Action: The proposal was submitted by Buddhasasana, Religious and Cultural Affairs Minister Prof. Hiniduma Sunil Senevi to ensure damaged locations can resume active religious and cultural functions.

Read more →

📈 Reflections on Fidel Castro’s Legacy

• Historical Impact & Diplomacy: Commemorating Fidel Castro’s political journey, highlighting his role in global diplomacy, anti-debt advocacy, and mediation in international conflicts. • Economic Context: Emphasizes Castro's early global campaign against foreign debt burdens, a topic highly relevant to Sri Lanka's current economic debt landscape. • Strategic & Soft Power: Analysis of Cuban leadership strategies, balancing international relations, and maintaining national sovereignty amidst global political pressures. • Ideological Perspectives: Explores the convergence of social vision, ethics, and political strategy, drawing parallels between historical liberation movements and global governance. _Note: Content reflects a political commentary and historical retrospective; contains no specific Sri Lankan business, market, or macroeconomic data._

Read more →

📈 Govt. Plans Rs. 42 Bn Investment in Vocational Education (2027–2031)

• Overall Investment: The Government will allocate nearly Rs. 42 Bn between 2027 and 2031 to improve vocational education across Sri Lanka. • VTA Allocation: Rs. 4 Bn is earmarked specifically to strengthen the Vocational Training Authority (VTA) and transform it into a centre of excellence in every province. • Key Reforms: Focus areas include introducing courses aligned with global demand, updating curricula, filling staff vacancies, improving student facilities, and broadening pathways beyond exam-based education to support workforce development. • Graduate Output: A total of 717 students across 15 courses received diplomas at the VTA’s 5th Diploma Convocation in Colombo.

Read more →

📈 Govt. Eyes Incentives for SME Equity Investors & Tax Relief for Venture Capital

• Key Policy Initiative: The Government is planning to incentivize equity investors in SMEs and introduce tax relief for venture capital companies, aimed at stimulating early-stage funding and enterprise growth. • 2027 Budget Focus: Industry and Entrepreneurship Development Deputy Minister Chathuranga Abeysinghe announced that proposed measures—likely to be unveiled in the upcoming 2027 Budget—will focus on enabling angel investments and boosting startups alongside broader SMEs. • Key Provisions: • Proposal to introduce a tax allowance for equity investments in SMEs. • Addressing and resolving double taxation issues currently affecting venture capital investments in startups. • Event Context: Announced at the National SME Forum Scale Up 2.0, organized by The Ceylon Chamber of Commerce’s Centre for SMEs in Colombo.

Read more →

🚍 Cabinet Approves Rs. 800 Mn Equity Injection for Lanka Metro Transit

The Cabinet of Ministers has approved a major capital allocation to Lanka Metro Transit Ltd. to scale up modern public transport operations across Colombo and surrounding areas, following a successful pilot phase. • Investment & Equity - Approved Rs. 800 Mn equity capital for critical infrastructure development. - Approved an additional Rs. 267.5 Mn equity capital reserved for 2027 operations. • Fleet & Operations Expansion - Incorporated in October 2025 under the SLTB, the company began with a 10-bus pilot project funded by the Clean Sri Lanka Program. - Fleet scaling up significantly with 112 new low-floor buses launching in September 2026. • Infrastructure Development - Construction of a fully equipped central workshop. - Development of modern bus depots at Thalangama, Kadawatha, Ratmalana, and Homagama. - Improvements to internal roads and passenger bus stands to modernize urban public transit accessibility and operational standards.

Read more →

📈 Prisons, Power and the Rule of Law: Ensuring Governance and Human Rights

• Core Theme: Correctional institutions must prioritize lawful custody, rehabilitation, and transparency, avoiding use as instruments of political repression or retaliation. • Historical Lessons: Past global crises—including incidents in Peru, Syria, the Soviet Union, the US, Spain, and former East Pakistan—demonstrate that political interference, overcrowding, and corruption severely undermine human rights and erode public trust in justice systems. • Governance Safeguards: Independent oversight, professional staff, transparent investigations into deaths in custody, and strict adherence to international benchmarks like the UN Nelson Mandela Rules are essential to protect human dignity and democratic integrity.

Read more →

📈 SOC Flags Rs. 52 Bn Port City Highway Delays & Governance Gaps

Parliament’s Sectoral Oversight Committee (SOC) on Infrastructure has raised serious concerns over severe cost overruns, missing timelines, and unresolved municipal issues surrounding Port City Colombo infrastructure. • Rising Infrastructure Costs & Delays • The Port Access Elevated Highway cost nearly doubled to Rs. 52 Bn from the 2015 estimate of Rs. 28 Bn. • Officials failed to present project completion timelines, ROI, or economic/social impact assessments. • 3 of the 4 highway ramps remain stalled at planning and land acquisition stages. • Ramp 3 (Kelani Bridge to Colombo Port) expects completion this year, cutting access time to under 30 minutes. • Land Use & Municipal Governance • 51% of Port City land is designated for residential use, with the balance for commercial & retail activities. • SOC pressed for immediate clarity on local government jurisdiction, resident voting rights, and Colombo Municipal Council (CMC) service pricing (waste, sewage, firefighting). • FDI & Trade Pipeline • Officials estimate US$ 700 Mn in Foreign Direct Investment (FDI) for Port City this year, but could not provide specific details on the investment pipeline.

Read more →

🚨 Prison Unrest Spreads Across Sri Lanka; Rights Group Appeals to UN

• Overview & Key Incidents: Widespread violence across prisons—including Negombo, Mahara, Colombo Remand, Kuruwita, and Pallansena—has resulted in 2 inmate deaths and multiple injuries. Severe damage was reported at Kuruwita Prison Hospital. • Government Response: Security forces, including Police STF, Riot Control, and Sri Lanka Air Force, brought situation under control using minimal force (tear gas). Public Security Minister Ananda Wijepala cited suspected organized conspiracy, sabotage, drug activities, and underworld involvement. • Human Rights Concerns: Committee for Protecting Rights of Prisoners (CPRP) wrote to UN Resident Coordinator Marc-André Franche alleging custodial deaths, assault, lack of legal access, and unlawful detention, requesting independent investigations and inmate protection. • Broader Context: While not directly detailing economic sectors like tea or apparel & textiles, prison stability remains critical to national security, governance, and institutional stability.

Read more →

⚖️ Proposed 22nd Amendment Gazetted to Boost Judicial Capacity

• Supreme Court & Court of Appeal Reforms: - Supreme Court judge retirement age raised to 67. Chief Justice to retire at 67 or after 6 years in office, whichever is earlier. - Court of Appeal judge retirement age raised to 65. Maximum judge count increased from 19 to 24. • Lower Judiciary Expansion: - High Court judge capacity expanded from 110 to 120, with retirement age increased from 61 to 63. - Retirement age for all other judges and magistrates fixed at 62 via the Judicature (Amendment) Bill. • Objective & Outlook: - Amendments aim to enhance judicial efficiency and address legal capacity in Sri Lanka. Both Bills are awaiting presentation to Parliament for debate and approval.

Read more →

Global & International Business

(52)

Sri Lanka & Japan Boost Cooperation in Digital Transformation and AI 📈

• High-Level Engagement: The Ministry of Digital Economy held discussions with a Japan International Cooperation Agency (JICA) delegation to expand bilateral partnership in digital transformation and artificial intelligence. • Digital Broadcasting Infrastructure: Key focus was given to accelerating the Digital Television Project and exploring local production of Set-Top Boxes to bolster domestic manufacturing and reduce import dependency. • AI Infrastructure & Capacity: Both sides discussed setting up a National AI Data Centre for Sri Lanka's future AI infrastructure, alongside joint capacity-building initiatives, tailored AI solutions, and international technical knowledge exchange.

Read more →

📈 Urgent Call to Fill Key Diplomatic Vacancies in US and China

General Secretary of the BRICS Chamber of Commerce, Kosala Wickramanayake, has issued an open letter to President Anura Kumara Dissanayake and Foreign Minister Vijitha Herath calling for immediate envoy appointments to Beijing and Washington D.C. • China Vacancy (Strategic Gap): The Ambassador position in Beijing has been vacant for over six months. China is Sri Lanka’s second-largest economy partner and a crucial player in debt restructuring, infrastructure, and foreign direct investment. • US Vacancy (Critical Export Market): The US is Sri Lanka’s largest single export market, absorbing nearly 30% of Sri Lankan goods. Prompt representation is vital to secure market share, advance IMF engagement, and support sectors like export trade and apparel & textiles. • Proposed Actions: • Concurrently nominate ambassadors for both capitals within 30 days. • Select envoys with commercial credibility and diplomatic acumen over political seniority to drive economic recovery.

Read more →

📈 Sri Lanka Resumes Australia 'Invest Sri Lanka' Forums After 9 Years

• Overview & Events: The Securities and Exchange Commission (SEC) and Colombo Stock Exchange (CSE) are hosting the 'Invest Sri Lanka' Investor Forums in Sydney and Melbourne from 17th to 20th August 2026. This marks the first Australian roadshow since 2017, targeting institutional investors and the diaspora. • Market Growth & Valuation: The All-Share Price Index (ASPI) expanded by 360% (CAGR of ~28.98%), surging from 4,846 points in May 2020 to 22,310.80 points by May 2026. Sri Lanka’s market Price-to-Earnings (P/E) ratio stands at 11.20x— Asia's 2nd lowest. • Australian Inflows & Inbound Remittances: Following the 2017 forum, Australian buy turnover rose over 700% from LKR 72.9mn to LKR 603.8mn in six months. By end-2025, buy turnover hit Rs. 1.85 bn, establishing Australia as a top-10 source for foreign market inflows and diaspora remittances. • Key Stakeholders: Key participants include the capital markets, banking sector (Platinum sponsor HNB Group), real estate & infrastructure (CHEC Port City Colombo), and the Board of Investment (BOI).

Read more →

🇷🇺 Russian Construction Giant NOSTROY Visits Sri Lanka to Boost Bilateral Links 📈

A 24-member business delegation from Russia’s National Association of Builders (NOSTROY)—representing over half of Russia's construction companies—visited Sri Lanka from 22–25 July to explore trade, investment, and labour mobility. • Key Discussion Areas: • Infrastructure & Urban Development: Discussions held with the Ministry of Transport, Highways & Urban Development, Urban Development Authority (UDA), and Board of Investment (BOI). • Tourism: Strategic talks on foreign investment in hotel development and tourism infrastructure via SLTDA and BOI. • Foreign Employment: Bilateral talks with the Sri Lanka Bureau of Foreign Employment (SLBFE) to secure job opportunities for qualified Sri Lankan construction professionals in Russia. • High-Level Engagement: • Delegation led by NOSTROY Vice President Anton Moroz. • Met with Foreign Affairs, Foreign Employment & Tourism Acting Minister Arun Hemachandra and Tourism Deputy Minister Prof. Ruwan Ranasinghe.

Read more →

Port City Colombo Expands Regional Investor Outreach to Maldives 📈

The High Commission of Sri Lanka in the Maldives and CHEC Port City Colombo (Pvt) Ltd hosted the Port City Colombo Investor Forum on 10th August 2026 in Malé. The event targeted Maldivian business leaders, investors, and developers to promote cross-border investment and regional expansion across South Asia. • Key Highlights & SEZ Incentives: • Project Scope: 269-hectare master-planned city and Special Economic Zone (SEZ). • Ownership & Capital: 100% foreign ownership with full capital and profit repatriation. • Currency Flexibility: Facilitates transactions across 16 designated foreign currencies. • Regulation: Single-window regulatory framework managed under the Colombo Port City Economic Commission Act 2021. • Banking & Strategic Presence: • Direct presence of Sri Lankan banks in the Maldives—including Bank of Ceylon, Commercial Bank of Ceylon, and Hatton National Bank—supports seamless transaction gateways. • Commercial Bank of Ceylon has opened a physical branch inside the SEZ to service investors directly. • Regional Strategy: • Follows similar investor outreach forums held in Singapore, the UAE, and Oman earlier this year. • Aims to move bilateral ties with the Maldives beyond traditional tourism and trade into high-value investment, innovation, and commercial partnerships.

Read more →

📈 Sri Lanka and EU Hold Ministerial Investment Dialogue to Drive Reforms

• Key Objective & High-Level Engagement: The Government of Sri Lanka and the European Union (EU) convened a ministerial-level Investment Dialogue at Shangri-La Colombo on 31 July 2026. The session aimed to sustain investor confidence, enhance policy consistency, and expand economic cooperation under Sri Lanka's IMF-supported reform programme. • Regulatory & Policy Reforms: Following an independent Investment Climate Assessment, discussions focused on translating economic vision into practice through key reforms: - Implementation of a digital Single Window Investment Approval System - Introduction of the proposed Investment Protection Bill - Modernization of customs and industrial zones • Trade & Market Access: - Emphasized the critical importance of continued preferential market access under the EU GSP+ scheme, which expires on 31 December 2026. - Highlighted investment expansion opportunities via the EU’s Global Gateway strategy. • Key Participants: Represented by the Chairman of the Board of Investment (BOI), Deputy Ministers of Finance, Foreign Affairs, and Industries, alongside the EU Ambassador and Ambassadors of France, Germany, Italy, and the Netherlands.

Read more →

📈 President Dissanayake Meets CCCC Delegation to Expand Port City & FDI Focus

• Key Discussions: President Anura Kumara Dissanayake met with a senior China Communications Construction Company Limited (CCCC) delegation led by Zhang Bingnan at the Presidential Secretariat to review ongoing and future development initiatives centered on Colombo Port City. • Sector Expansion: Citing high confidence in Sri Lanka's current economic policies, CCCC expressed interest in expanding foreign investment into key sectors including renewable energy, trade & logistics, and digital services to position the country as a regional hub. • Employment & Local Impact: CCCC committed to sourcing 90% of the workforce for its investment projects locally, supporting national employment and workforce development. • Key Attendees: The high-level meeting included Minister of Labour & Deputy Minister of Finance Dr. Anil Jayantha Fernando, Colombo Port City Economic Commission Chairman Harsha Amarasekera, alongside senior executives from CCCC and China Harbour Engineering Company (CHEC).

Read more →

New Chinese Envoy Signals Deeper China-Sri Lanka Economic Cooperation 📈

• Diplomatic Leadership: Newly appointed Chinese Ambassador Wei Huaxiang has assumed office, pledging to strengthen the synergy of development strategies and expand mutually beneficial economic cooperation. • High-Level Engagement: The partnership enters a new phase following 2025 meetings between Chinese President Xi Jinping, Sri Lankan President Anura Kumara Dissanayake, and Prime Minister Dr. Harini Amarasuriya. • Core Frameworks: Reaffirmed commitments to collaborative economic projects under the Belt and Road Initiative, building on historical bilateral trade roots such as the Rubber-Rice Pact (rubber and rice trade). • Key Milestones Ahead: Serves as a prelude to 2027, which marks the 70th anniversary of official diplomatic relations and the 75th anniversary of the historic Rubber-Rice Pact.

Read more →

India & Sri Lanka Reaffirm Energy Partnership & Review Key Power Projects ⚡

• Energy & Power Sector Cooperation India and Sri Lanka held high-level ministerial discussions in New Delhi to review progress on strategic bilateral initiatives, aiming to enhance regional energy security and drive clean energy transition. • Key Projects Reviewed • Proposed India-Sri Lanka HVDC interconnection project • Sampur Solar Power Project • Focus Areas & Frameworks Both countries agreed to deepen cross-border electricity trade, renewable energy integration, and transmission infrastructure. India shared its framework for transmission development using Tariff-Based Competitive Bidding (TBCB) under a Public-Private Partnership (PPP) model. • Strategic Context Led by Indian Union Minister Manohar Lal and Sri Lankan Energy Minister Anura Karunathilake, the meeting builds on India's 'Neighbourhood First' policy and Vision MAHASAGAR, supporting sustainable energy diversification for Sri Lanka.

Read more →

Sri Lanka Delegation Targets Indian Market to Boost Gem & Jewellery Exports 📈

• Delegation & Mission: The Export Development Board (EDB), NGJA, and major industry associations led a delegation to India (Aug 8–13, 2026) to expand bilateral trade and open opportunities in India’s major jewellery trading hub. • Key Engagements: - Visited India International Jewellery Show (IIJS) in Mumbai to establish business linkages. - Held trade meetings with Bombay Chamber of Commerce (BCCI), MACCIA, World Trade Centre Mumbai, ICIB, and Mahratta Chamber (MCCIA). • Sector Spotlight: Promoted Sri Lanka's gem & jewellery sector, emphasizing ethically sourced natural gemstones, skilled craftsmanship, and investment partnerships. • Exhibition Promotions: Pitch included Sri Lanka Expo 2027 (Jan 14–17, 2027), FACETS 2027, Gem City Rathnapura, and Gem Sri Lanka to attract Indian buyers and investors.

Read more →

📈 Sri Lanka Export Earnings Cross US$ 10 Bn in H1 2026

The National Chamber of Exporters (NCE) commended Sri Lankan exporters as total export earnings surpassed US$ 10 Bn in the first half of 2026, based on provisional Central Bank data. • Overall Performance • Total export revenue rose 3.3% YoY to US$ 10.4 Bn in H1 2026. • Merchandise exports grew 6.3% YoY to US$ 6.9 Bn, offsetting a dip in services. • June 2026 total export revenue stood at US$ 1.66 Bn. • Key Sectors & Strategic Focus • High potential highlighted in the ICT/BPM sector to broaden the export basket with high-value digital services. • Priority areas for exporters include labor availability, digitalization of trade processes, export credit, access to finance, and policy consistency. • NCE member survey (275 respondents) reflects a combined annual turnover of US$ 3.07 Bn, underlining their vital role in national employment and economic stability. • Top Export Markets & Diaspora Linkages • Major export destinations include the United States, United Kingdom, India, Australia, the Maldives, and Germany, along with emerging markets across Asia, Europe, Middle East, Africa, and Latin America. • NCE is establishing a direct platform to connect overseas Sri Lankans with local exporters to expand market access.

Read more →

SL-Maldives Business Council 18th AGM: MoU Signed to Boost Bilateral Trade & SME Growth 📈

• Bilateral Trade & Market Performance - Total SL-Maldives bilateral trade reached US$ 137 Mn (2025 SL exports: US$ 132 Mn; imports from Maldives: US$ 5 Mn). - SL’s share of Maldivian imports improved to 4.7% in 2025 (up from 4.4% in 2024), against total Maldivian imports of US$ 3.6 Bn in 2025 (up from US$ 2 Bn in 2016). • Key Sectors & Growth Opportunities - MoU signed between Ceylon Chamber of Commerce and Maldives Business Chamber to drive private-sector B2B ties. - Focus on expanding SL enterprises and SMEs into hospitality, construction, renewable energy, education, digital transformation, healthcare, and professional services. - High potential identified to boost trade in tea (black tea & packaging), fresh fruit, vegetables, wheat flour, and electrical conductors. - Strategic efforts underway to position SL as a primary destination for Maldivian medical treatment under the Aasandha Scheme. • Labor Mobility & Financial Integration - Over 30,100 Sri Lankans are employed in the Maldives; Maldivian residents in SL stand at ~1,700. - Proposals submitted to establish a Bank of Maldives branch in Sri Lanka to enhance financial connectivity. - SLMBC and EDB to organize a dedicated Sri Lanka Pavilion at the 20th Hotel Asia Exhibition in Maldives (Sept 28–30, 2026).

Read more →

Market News

(58)

📈 Global Markets Near Highs; Middle East Tensions Surge Energy Costs

• Market Sentiment & Equities: Global stocks (MSCI All-World) hovered near record highs, on track for a 3rd weekly gain. Market volatility declined, with the fear index (VIX) set for a 4th consecutive weekly drop—its longest streak since May 2025. • Energy & Commodity Pressures: Impasse in Middle East peace talks and U.S. blockade threats on Iran pushed energy prices up. Brent crude rose +1.7% to US$ 88.5/bbl (+6% WoW), European natural gas spiked +10% WoW, and U.S. gas gained +3.5%. Gold edged down -0.1% to US$ 4,346/oz, but remains near 2-month highs, benefiting from faded U.S. rate hike expectations. • Currency Movements: Japanese Yen strengthened to 159.18 per US$ (+0.2% for USD) following reports of a potential Bank of Japan interest rate hike as early as September to counter persistent currency weakness. • Sri Lanka Relevance: Elevated global petroleum & energy prices pose direct risks to Sri Lanka's import bill and foreign exchange reserves, offsetting broader global equity stability.

Read more →

📈 Sri Lanka Secondary Bond Market Yields Slide on Bullish Rally

• Market Sentiment & Yield Movement: The secondary bond market extended its rally on aggressive buying interest and elevated trading activity. Yields declined across maturities, with short-term 2028 tenors trading between 10.10%–10.30%, while medium-to-long tenors saw steep drops—2030 maturities down to 10.85%, 2032/2033 tenors down to 11.30%–11.60%, and 2036/2037 tenors sliding to 12.20%–12.25%. • Money Market Liquidity: Net liquidity surplus recorded at Rs. 230.91 Bn. A total of Rs. 103.79 Bn was placed in the SDFR (8.25%), against Rs. 0.48 Bn drawn from SLFR (9.25%). The Central Bank drained Rs. 107.60 Bn via overnight repo (WAR 8.64%) and Rs. 20 Bn via term repo (8.73%). Overnight Call money and Repo weighted average rates stood at 8.78% and 8.82%. • Foreign Exchange (USD/LKR): The Sri Lankan Rupee appreciated, with the USD/LKR spot rate closing at Rs. 333.50/333.65 (up from Rs. 334.20/334.25). Total USD/LKR traded volume reached US$ 72.25 Mn.

Read more →

📈 Asian Markets Rise as Inline US Inflation Cools Fed Hike Bets

• Equities & Global Indices: MSCI Asia-Pacific ex-Japan jumped +0.97%, driven by South Korean equities (+4.4%) and Japan’s Nikkei (+1.86%). US S&P 500 E-minis edged up +0.02% following a mixed close on Wall Street. • Inflation & Monetary Policy: US consumer prices rose +0.1% MoM in July, meeting expectations. CME FedWatch rate hike probabilities for September dropped to 40% from 54% a week prior. Meanwhile, Japan’s July wholesale inflation surged +7.2% YoY, raising expectations of a Bank of Japan rate hike next month. • Commodities & Energy: Crude prices eased but remained elevated amid US-Iran tensions over the Strait of Hormuz; Brent crude fell -0.71% to US$ 88.35/bbl while US crude dipped -0.83% to US$ 82.58/bbl. In precious metals, spot gold gained +0.28% to US$ 4,419.28/oz and silver rose +0.3% to US$ 65.50/oz. • Currencies & Yields: The US Dollar Index remained steady at 99.93, while USD/JPY dipped -0.06% to 159.32. Benchmark 10-year US Treasury yields rose slightly to 4.688%.

Read more →

📉 Global Oil Prices Drop Over 1.5% Amid Demand Cut Forecasts

Global crude oil prices fell on Thursday due to lowered demand projections for 2026, though persistent supply constraints from ongoing U.S.-Iran conflict kept a floor under market declines. • Global Market Movements: Brent crude fell 1.5% (down $1.29) to US$ 87.69/bbl, while U.S. West Texas Intermediate (WTI) dropped 1.6% (down $1.30) to US$ 81.97/bbl. • Demand Forecast Cuts: OPEC reduced its 2026 global demand growth forecast to 580,000 bpd. The International Energy Agency (IEA) expects a consumption contraction of 1.6 million bpd this year (revised down from 1.0 million bpd) due to elevated fuel prices and supply disruptions. • Inventory Build & Middle East Tension: Prices were further weighed down by a surge in U.S. crude inventories, which rose by 17.4 Mn barrels to 424.4 Mn barrels. However, deadlocked U.S.-Iran talks and navigation risks in the Strait of Hormuz and Bab el-Mandeb limit further price drops. • Sri Lanka Macro Context: High global energy prices directly pressure Sri Lanka's trade balance and foreign exchange reserves, as refined petroleum & crude oil imports constitute a major share of total import costs. Declining global benchmark prices could offer marginal relief to the domestic energy, manufacturing, and logistics & transport sectors if price dips persist.

Read more →

📈 T-Bill Yields Drop to Extend 5-Week Slide as Market Rally Continues

• T-Bill Auction Highlights - Yields saw their steepest drop yet across all tenors: 91-day fell 33 bps to 9.44%, 182-day shed 21 bps to 9.78%, and 364-day dropped 18 bps to 10.01%. - The Public Debt Department fully raised the offered Rs. 140 Bn. - Demand was strong, with total bids reaching 2.76x the offered amount, reflecting ample market liquidity in government securities. • Secondary Bond & Money Market - Bullish momentum in bonds extended due to high liquidity, low Treasury bond supply in August, and expectations of steady policy rates following CBSL Governor's remarks of no further rate hikes this year. - Yields across key maturities (2027–2036) eased further. - Net liquidity surplus stood elevated at Rs. 249.51 Bn. - Weighted average overnight call money and repo rates fell to 8.79% and 8.84% respectively. • Forex Market - In the forex market, the Sri Lankan rupee appreciated against the US dollar, with USD/LKR closing at Rs. 334.20/334.25 (up from Rs. 334.50/334.60). - Total USD/LKR traded volume stood at US$ 170.60 Mn for 11 August.

Read more →

📈 Colombo Stock Market Recovers on Positive Fundamentals

• Market Indices: The ASPI inched up +0.07% (+15.77 pts) to close at 21,418.57, while the S&P SL20 gained +0.29% (+17.10 pts) to 6,000.24. Advancers stood at 93 against 113 decliners. • Turnover & Foreign Inflows: Total market turnover exceeded Rs. 2 Bn on 53.6 Bn+ shares traded. Foreign investors remained net buyers, recording a net inflow of over Rs. 471.8 Mn. • Sector Leaders: • Food, Beverage & Tobacco led turnover with a 38% share, driven by Melstacorp (up Rs. 0.50 to Rs. 186.50). • Banking and Capital Goods collectively contributed 36% to total turnover, supported by gains in Sampath Bank (up Rs. 0.25 to Rs. 137.00). • Top Movers: Key positive movers included DIAL, HNB, NDB, DIPD, and JKH. Main drags were BREW, CINS, CARG, CTHR, and CCS. Crossings in Melstacorp, JKH, and Sampath Bank accounted for 44.6% of daily turnover.

Read more →

📉 CSE Edges Down Ending 4-Session Rally Amid Profit Taking

• Overall Market Performance: The All Share Price Index (ASPI) inched down 0.07% (-14.67 points) to 21,402.80, while the S&P SL20 dropped 0.04% (-2.35 points) to 5,983.14, snapping a four-day winning streak amid profit taking. Decliners outnumbered advancers 104 to 95. • Turnover & Trading Volume: Market turnover stood over Rs. 1.5 Bn with more than 47.1 Mn shares traded. Foreign investors remained net sellers, recording a net outflow of Rs. 356.2 Mn. • Sector Breakdown: • Capital goods led daily turnover contributing 21% (sector index up 0.05%), driven primarily by Hemas Holdings (down 10 cents to Rs. 31.10). • Telecommunication services was the second-highest turnover contributor (sector index down 0.93%), led by Dialog Axiata (down 40 cents to Rs. 44.30). • Diversified financials and telecommunications collectively accounted for 29% of daily turnover. • Key Corporate Movers: Major negative drag on the ASPI came from CINS, DIAL, JKH, SDB, and CTHR, whereas HNB, RICH, MELS, CINS.X, and CARS offered positive support. High net worth and institutional activity was concentrated in Dialog Axiata, Asiri Hospital Holdings, and R I L Property.

Read more →

📈 Global Oil Prices Rise to Multi-Week Highs Amid US-Iran Stalemate

• Oil & Energy: Brent crude futures rose to US$ 88.00/bbl and U.S. crude ticked up to US$ 82.45/bbl following a ~5% rally, driven by an impasse in U.S.-Iran negotiations to reopen the Strait of Hormuz. Market analysts project prices to stay within the US$ 75–95/bbl range amid escalating geopolitical tension. • Macroeconomy & Inflation: Rising fuel costs heighten focus on the upcoming U.S. July CPI report (expected +0.1% headline, +0.2% core). An upside surprise could increase expectations of a Federal Reserve interest rate hike and reignite stagflation worries. • Equity Markets: Asian shares fluctuated due to fragile sentiment. MSCI’s Asia-Pacific ex-Japan index edged up 0.2%, South Korea's Kospi gained 0.3%, while U.S. Nasdaq futures rose 0.28% and S&P 500 futures added 0.1%. • Currencies & Commodities: The Japanese yen traded weak above 159 per USD despite intervention vigilance. Spot gold climbed 0.5% to US$ 4,409.81 per ounce. • Technology & Capital Markets: Nvidia partnered with six major financial institutions to create compute financing platforms aimed at raising over US$ 500 Bn in third-party capital for AI infrastructure.

Read more →

📈 Secondary Bond Market Opens Week on Strong Footing

• Market Drivers: Driven by persistently elevated market liquidity and limited Treasury Bond supply scheduled for August auctions, pushing yields lower amid robust activity. • Yield Movements: Aggressive buying reduced rates across maturities; 2030 tenors traded between 11.00% and 11.25%, while longer 2036-2037 tenors declined to a range of 12.50%–12.56%. • Money Market: Net liquidity surplus stood at Rs. 196.36 Bn, with Rs. 116.36 Bn absorbed via Central Bank's SDF at 8.25% and Rs. 80 Bn via overnight repo at 8.75%. Overnight call money and repo rates averaged 8.88% and 8.93%. • Forex Market: USD/LKR spot contracts closed slightly lower at Rs. 335.10/335.18 compared to the previous close of Rs. 335.37/335.42, with a total traded volume of US$ 105.80 Mn.

Read more →

📈 Asian Stocks Gain & Oil Prices Rise Amid Gulf Shipping Strains

• Global Market Performance: Asian equity markets tracked Wall Street higher following soft U.S. jobs data, which reduced expectations of a near-term Federal Reserve rate hike (September probability fell to 44% from 67%). Japan’s Nikkei surged 2.0%, South Korea rose 1.1%, and MSCI Asia-Pacific ex-Japan edged up 0.8%. Chinese blue-chip stocks fell 0.4% due to weaker-than-forecast July inflation data. • Energy Sector & Shipping: Brent crude increased 1.0% to US$ 84.40/bbl, and U.S. crude gained 0.8% to US$ 78.80/bbl as shipping traffic through the Strait of Hormuz remained minimal. Iran noted a shipping lane agreement with Oman is in final stages, but reopening remains conditional on U.S. actions—posing potential import cost pressures for global trade and energy-dependent economies like Sri Lanka. • Corporate Earnings & AI: S&P 500 year-over-year earnings per share grew 30% (excluding Alphabet and Amazon investment gains). The AI & technology sector led performance with median EPS growth of 28%, compared to 12% for non-AI firms. • Bonds & Commodities: Gold stabilized at US$ 4,320/oz after a 7% gain last week, while 10-year U.S. Treasury yields held at 4.662% ahead of US$ 125 Bn in new bond issuance.

Read more →

📈 Money Market Rates Slide as Liquidity Surges to Rs. 246.8 Bn

• Money Market Liquidity: Outstanding system surplus liquidity expanded to Rs. 246.81 Bn (up from Rs. 183.34 Bn), marking its highest level since May. Weighted average Call Money and Repo rates eased to 8.93% and 8.97% (from 9.01% and 9.03%). • Government Securities & Foreign Holdings: Foreign investment in rupee Treasuries recorded a net inflow of Rs. 4.04 Bn for the week ended Aug 6 (9th consecutive week of net buying). Total foreign holdings crossed the Rs. 190 Bn mark for the first time in over three years, reaching Rs. 192.86 Bn. • T-Bill & Bond Market Yields: Secondary bond market yields shifted lower across tenors. At the weekly auction, weighted average T-Bill yields dropped for the 4th straight week: 91-day down 9 bps to 9.77%, 182-day down 22 bps to 9.99%, and 364-day down 1 bps to 10.19%. Total accepted amount reached Rs. 154 Bn, with initial phase bids oversubscribed by 2.41 times. • Forex Market: The Sri Lankan Rupee (LKR) appreciated against the US Dollar, closing at Rs. 335.37/335.42 (vs. Rs. 335.65/335.80 the prior week). Average daily USD traded volume stood at US$ 113.82 Mn.

Read more →

📈 Global Oil Prices Rise Amid Strait of Hormuz Transit Restrictions

• Market Movements: Benchmark Brent crude rose 0.97% (+US$ 0.80) to US$ 83.29/bbl, while U.S. West Texas Intermediate (WTI) gained 0.83% (+US$ 0.64) to US$ 77.93/bbl. This follows a >US$ 3/bbl climb on Thursday, though both benchmarks face a weekly decline of ~8%. • Key Drivers: Gains follow reports that Iran, in discussions with Oman, is reviewing a bill to ban U.S. and Israeli vessels from transiting the Strait of Hormuz—a strategic route accounting for ~20% of global oil and LNG traffic prior to the conflict. Under the proposal, hostile vessels face fines up to 20% of cargo value. • Fee Disagreements & Sanctions: Tehran seeks transit fees of 5% to 7% on cargo values, while Oman proposes ~3% and Washington advocates for no fees. Industry analysts caution that implementation remains unlikely in the near term due to existing U.S. sanctions and restrictive insurance clauses. • Regional Impact: Continued security risks—including recent Houthi missile and drone strikes in Yemen—reinforce market sentiment that any prospective agreement represents a conditional transit corridor rather than a full restoration of normal supply flows.

Read more →

Product & Service Launches / Business Expansions

(71)

🎵 Rookantha Goonatillake Returns with 'A Timeless Journey' Concert

• Event Overview: Legendary musician Rookantha Goonatillake returns to the stage on 15 August at the Sugathadasa Indoor Stadium for "Rookantha – A Timeless Journey". • Career Celebration: Beyond his singing performance, the show highlights his multi-decade musical catalogue, celebrating his work as a songwriter and composer. • Digital Reach: Expanding the reach of the entertainment & creative industries, the event will be livestreamed via SLVLOG to engage overseas Sri Lankans and remote audiences.

Read more →

📱 AIA Insurance Lanka Launches AIA+ All-in-One Digital Ecosystem

• Core Launch & Purpose: AIA Insurance Lanka launched 'AIA+', an integrated platform combining life insurance management, health wellbeing, digital payments, claims processing, and rewards to elevate customer experience. • Key Features & Operations: Policyholders can instantly manage policies, execute premium payments with immediate confirmation, track claims in real time, and view transaction status anytime via the app. • Wellbeing & Rewards Model: Promotes proactive health management by enabling users to complete wellness challenges (such as step tracking and hydration goals) to earn points redeemable for lifestyle rewards. • Digital Transformation Context: Developed under 'AIA NOVA'—the company's flagship digital transformation initiative—to modernise customer engagement and operations across Sri Lanka's insurance sector. Available on Apple App Store and Google Play Store.

Read more →

📈 Honor ROBOT PHONE Pre-Orders Surpass 400,000 Units Ahead of Official Launch

• Market Demand & Milestones Chinese OEM Honor announced that pre-orders for its new ROBOT PHONE have exceeded 400,000 units within just three weeks of its initial teaser release. Honor Chief Imaging Engineer Luo Wei confirmed strong consumer demand ahead of the official sales launch scheduled for August 18. • Product Offering & Key Features The flagship device is available in two RAM + storage options featuring a premium price tag. Key technical highlights include a specialized YOYO mode and ARRI cinematic imaging functionality, designed to deliver an upgraded mobile photography experience. • Industry Context The rapid early adoption of premium, AI-integrated hardware underscores growing consumer appetite for next-generation mobile devices, presenting wider sales and distribution opportunities for the global and domestic mobile telecommunications and ICT/BPM retail segments.

Read more →

Advantis Deploys Sri Lanka's Largest Crane for Heavy Logistics 📈

• Core Deployment: Advantis, the logistics arm of Hayleys PLC, deployed Sri Lanka’s first 900-tonne crawler crane through a joint venture with Sarens, significantly boosting domestic heavy-lift capabilities. • Expanded Fleet: The 900-tonne crane works alongside a 280-tonne crawler crane, wind blade adaptors, tower trailers, and prime movers to deliver end-to-end project execution locally. • Strategic Impact: Enhances local capacity for complex operations across logistics & infrastructure, industrial projects, factory/power plant relocations, and national renewable energy goals. • First Project: Supporting Haywind One Limited’s 50MW wind power project, handling port management, transportation, site unloading, and wind turbine erection.

Read more →

ISF Launches World’s First Automated Coconut Dewatering System 📈

• Key Innovation: Sri Lankan engineering firm ISF unveiled the world’s first fully automated coconut dewatering system, replacing manual handling to boost productivity, cut labor dependence, and improve ROI. • Technology & Context: Designed locally using automation and AI, positioning engineering and machinery manufacturing to boost coconut processing capabilities across the region. • Global Expansion: Export machine to ship to the Philippines in weeks with local support; targets clients in Indonesia and Philippines to compete against Western tech at lower costs. • Company Profile: Established in 1977, ISF offers tech solutions across the coconut, dairy, food, pharmaceutical, chemical, and FMCG sectors.

Read more →

United Motors Unveils 2027 Mitsubishi Outlander Sport in Sri Lanka 📈

• Market Launch: United Motors Lanka PLC (UML) introduced the upgraded 2027 Mitsubishi Outlander Sport at the Auto Vision Colombo Motor Show, expanding options in Sri Lanka's automotive market. • Vehicle Specs: The compact SUV features a fuel-efficient 1.5L MIVEC engine, CVT transmission, 222mm ground clearance, and an Intelligent Drive Mode Selector (Normal, Wet, Gravel, Mud) tailored for Asian road conditions. • Key Features: Equipped with a 12.3-inch display with wireless Apple CarPlay/Android Auto, panoramic glass roof, Nanoe™ X air purification, multi-around monitor, and a 5-Star ASEAN NCAP safety rating. • Company Context: UML has been the authorized distributor for Mitsubishi Motors since 1985, backing the model via its nationwide sales and aftersales network.

Read more →

🚗 Kia Motors Lanka Secures Corporate Fleet Order from CBL Group

• Transaction Highlights • Kia Motors (Lanka) Ltd. delivered a fleet of 16 Kia Sonet smart urban SUVs to CBL Group, one of Sri Lanka's largest food manufacturing conglomerates. • Vehicles were financed and managed by Central Finance through an operating lease model. • Corporate Mobility & Sector Impact • Strengthens Kia's footprint in Sri Lanka's corporate mobility and automotive sectors. • Comes as Kia Motors (Lanka) celebrates 30 years of local operations in 2026. • Reflects rising confidence from major Sri Lankan corporates in trusted vehicle suppliers for fleet management. • Product Context • First introduced to Sri Lanka in 2025, the Kia Sonet is a smart urban SUV equipped with advanced safety, design, and connected vehicle technology.

Read more →

Hero-Abans Auto Launches Hero XOOM 125R Hadawadakaru Scooter 📈

• Overview & Pricing: Hero MotoCorp, in partnership with Abans Auto, has launched the Hero XOOM 125R Hadawadakaru targeted at young riders in Sri Lanka. The scooter is priced at LKR 834,900. • Key Performance & Features: • Powered by Fuel Injection (Fi) tech with disc brakes, accelerating 0-60 km/h in 7.6 seconds (fastest in its 125cc segment). • Segment-first features: 14-inch alloy wheels, sequential LED winker lights, and I3S (idle stop-start) fuel-saving tech. • Tech & Convenience: Digital speedometer, Bluetooth with Turn-by-Turn navigation, USB charging port, external fuel lid with open buzzer, and under-seat storage capable of holding a full-faced helmet. • Market & Distribution Network: • Hero MotoCorp resumed operations in Sri Lanka in April 2025 via Abans Auto. • Backed by an island-wide network of 185 sales points, 3 exclusive Hero Signature Service Centres (Peliyagoda, Panadura, Kurunegala), and over 500 service/spare parts outlets. • Marketing: Launch supported by a multi-lingual campaign featuring an original song by Kaizer (Sinhala) and Jega (Tamil).

Read more →

📈 Sri Lanka Business News Update: Content Unavailable

• Status: Summary could not be generated as the source news content failed to load due to a server error (503 Service Unavailable). • Attempted Article: • Topic: HNB partners Euro Motors to redefine Sri Lanka vehicle leasing (motor / vehicle leasing sector) • Published Date: August 13, 2026 • Note: Full data and metrics are currently unavailable for analysis based on the provided input.

Read more →

📈 DFCC Bank Launches "Pragathi" to Boost Sri Lanka's MSMEs

• Overview: DFCC Bank has introduced DFCC Pragathi, a unified proposition combining specialized financial solutions, value chain financing, business advisory services, and capacity-building initiatives under one brand to support Micro, Small, and Medium Enterprises. • Track Record: Building on a dedicated MSME business established in 2016, the bank has partnered with over 10,000 entrepreneurs islandwide. • Target Sectors: Key focus areas include _agriculture_, _dairy farming_, _manufacturing_, and value-added agricultural industries such as tea, _cinnamon_, _pepper_, _banana_, _turmeric_, _ginger_, and _paddy cultivation_. • Inclusivity Initiative: The launch included DFCC Aloka - Pragathi, a specialized financing loan scheme designed to empower women entrepreneurs, with initial funding distributed to seven women-led businesses. • Support Network: Backed by a dedicated team of over 75 Pragathi Relationship Officers deployed across Sri Lanka to provide personalized guidance and local expertise.

Read more →

SriLankan Airlines Resumes Colombo-Kuwait Flights ✈️

• Overview: SriLankan Airlines has officially resumed direct flights between Colombo and Kuwait, launching a six-weekly service effective 8 August. • Sector: The resumption strengthens vital air connectivity within the aviation & tourism and foreign employment sectors, enhancing travel convenience for both business and leisure travelers. • Flight Schedule: - UL229 (Colombo to Kuwait): Operates Monday, Tuesday, Thursday, Friday, Saturday, and Sunday; departs at 5:10 p.m. and arrives at 8:05 p.m. - UL230 (Kuwait to Colombo): Operates on the same days; departs at 9:10 p.m. and arrives at 5:15 a.m. the following day. • Impact: Re-establishes key Middle Eastern connectivity to support passenger traffic, trade, and diaspora transit.

Read more →

🍽️ City of Dreams Sri Lanka Redefines Colombo’s Dining & Tourism Scene

South Asia’s first integrated resort, City of Dreams Sri Lanka, has launched an ambitious culinary ecosystem across its dual hotels, Nuwa and Cinnamon Life. By introducing 16 distinct food and beverage venues under one roof, the resort establishes a integrated destination model similar to Singapore, Macau, and Dubai. • Key Venues & Culinary Concepts: - Fine & Signature Dining: Sapphire Dragon (Cantonese), Yoroko (Robatayaki Japanese), Bistro des Marées (Mediterranean seafood), and Staten Bar & Grill (Western steakhouse). - All-Day & Casual: Quizine (multicultural live cooking stations), Sweet Lab (artisanal pastry/cafe), and Spice8 (24/7 Asian dining on the gaming floor). - Bars & Nightlife: The Crystal Lounge (NUWA), Flux, Dreams & Beats, The Vault (spirits), and Cloud Wine. • Economic & Sector Impact: - Tourism & Hospitality: Shifts Colombo from traditional scattered dining to an integrated "city within a city" destination, boosting appeal for luxury leisure and MICE (events/conferences) travel. - Local Growth: Elevates national hospitality standards while driving opportunities for local suppliers, chefs, and service professionals in hospitality and culinary tourism.

Read more →

Economic News

(55)

📈 CBSL Releases Second Monetary Policy Report for 2026

• Overview: The Central Bank of Sri Lanka (CBSL) published its biannual Monetary Policy Report for August 2026 under the CBSL Act No. 16 of 2023, providing economic outlooks on inflation, growth, and policy rationale. • Inflation & Policy Stance: Headline inflation accelerated sharply and is projected to stay elevated in the short term before stabilizing near the 5% target. CBSL tightened monetary policy in May 2026 to control price pressures and anchor expectations. • Credit & External Sector: Growth in private sector credit is expected to moderate in response to May's tightening measures. Meanwhile, the external sector maintains resilience despite global spillover risks from the Middle East conflict. • Growth Outlook & Risks: The national economic growth trajectory remains broadly stable, though geopolitical tensions and weather-related disruptions pose potential uncertainties.

Read more →

📈 Sri Lanka Economic & Investment Summit 2026 to Focus on Next Phase of Growth & Reform

The Ceylon Chamber of Commerce will host the Sri Lanka Economic & Investment Summit (SLEIS 2026) on 12-13 October 2026 at Shangri-La Colombo. The event aims to transition the national focus from economic stabilization to long-term competitiveness, investment, and sustainable growth. Key Highlights & Focus Areas: • Core Theme: "Positioning Sri Lanka in a Changing Global Economy: Resilience, Reform, and the Future of Economic Policy". • Featured Session: "Building the Next Economy: Policy, Technology and Infrastructure for Growth" will examine how to bridge the gap between policy formulation and practical execution. • Key Sectors & Drivers: Emphasis on driving national productivity through technology, digital economy, innovation, and strategic infrastructure development. • Key Speakers: Includes Prof. Gomika Udugamasuriya (Senior Advisor on Science & Technology), Dr. Hans Wijayasuriya (Chief Advisor on Digital Economy), and Dr. Parakrama Dissanayake (Chairman, Sri Lanka Ports Authority). • Strategic Objectives: Identify critical reforms to attract global investment, strengthen trade connectivity, and build resilience against international economic shifts. _Registrations are currently open for business leaders, investors, and policymakers._

Read more →

📈 Sri Lanka Eyes 'B' Rating Upgrade Amid Strong Credit & Growth Momentum

• Macro Overview: Sri Lanka is moving closer to a sovereign credit rating upgrade to 'B' (target 'B-' by early 2027 from 'CCC+') driven by 11 consecutive quarters of expansion, fiscal discipline, and progress under the IMF program. • GDP Growth: • 2026 GDP Growth Forecast: 4% – 4.5%. • 2Q 2026 Growth Projection: 4% – 5% YoY, led by broad-based domestic expansion. • Private Sector Credit: • 2026 Forecast: Accelerating to ~22% YoY growth. • June Disbursements: Rs. 245 Bn (+27.4% YoY), signaling strong domestic demand without overheating due to moderated govt borrowing. • Fiscal & Debt Dynamics: • Public Debt: Down from 126% of GDP in 2022 to 91.6% in 2025, with further reductions in 2026 outperforming IMF targets. • Market Access: 'B' rating expected to unlock international capital markets, helping raise US$ 1.5 Bn to refinance maturing external debt.

Read more →

📈 Sri Lanka FX & Economic Outlook: LKR Stability and 4th Straight Current Account Surplus Projected for 2026

Sri Lanka is projected to register its fourth consecutive current account surplus in 2026, supported by strong worker remittances, CBSL foreign exchange purchases, and multilateral inflows. • Overall Figures: Current account surplus forecast at US$ 250–300 Mn (~0.3% of GDP). • Foreign Exchange & Currency: LKR expected to remain stable at Rs. 330–335/USD. CBSL YTD net purchases near US$ 1 Bn, complemented by upcoming ADB (US$ 200 Mn) and World Bank (US$ 150 Mn) inflows. • Remittances: Projected to grow 12% YoY to a record US$ 9 Bn, providing critical support to national liquidity. • Tourism & Exports: Tourism arrivals expected at 2.3 Mn (matching 2025 levels), though earnings are forecast down 10% YoY to US$ 2.9 Bn due to lower average spending and a changing visitor mix. Moderating oil prices are expected to offset softer overall exports.

Read more →

CBSL Signals Rate Hold at 8.75% as Inflation Peaks 📈

• Monetary Stance: Central Bank Governor P. Nandalal Weerasinghe announced no additional interest rate hikes are needed this year following May's unexpected 100 bps increase to 8.75%. Policy will remain steady provided inflation aligns with forecasts. • Inflation Outlook: Key inflation reached 7.3% YoY in July (a 3-year high), driven by global energy & fuel shocks from the Middle East conflict. Rates are expected to peak near 8% in November before returning to the 5% target in H1 next year. • Economic Growth: CBSL projects GDP growth of 4%-5% for 2026, while the IMF predicts 3% alongside releasing $695 Mn under its $2.9 Bn bailout program. The economy expanded 5% YoY in 2024 and 2025. • Reserves & External Sector: Gross foreign exchange reserves currently stand at ~$6.6 Bn, with a target to reach ~$8 Bn by year-end despite oil import cost pressures. Fuel prices rose over 35% to offset external shocks.

Read more →

📈 World Bank Approves US$ 100 Mn Facility for North-East Development

• Funding Overview: The Cabinet has approved entering into financial agreements for a US$ 100 Mn credit facility from the International Development Association (IDA) of the World Bank Group. • Broader Assistance: The funding forms part of an expected US$ 1 Bn IDA financial assistance package for Sri Lanka covering the 2026–2031 period. • Project Scope: Dedicated to the Northern and Eastern Provinces Integrated Regional Development Project, following concluded negotiations initiated after initial cabinet approval on 9 February 2026. • Key Sectors & Support: Designed to strengthen high-potential sectors and empower MSMEs (micro, small, and medium-scale enterprises) across both provinces. • Economic Focus: Aimed at accelerating regional economic growth, boosting provincial competitiveness, and enhancing regional connectivity and livelihoods. • Key Driver: The proposal was submitted by President Anura Kumara Dissanayake in his capacity as Minister of Finance, Planning, and Economic Development.

Read more →

Cabinet Nod for $ 200 Mn ADB Post-Cyclone Loan 📉

• Overall Facility: Approved signing financial agreements with ADB for a US$ 200 Mn facility under the Post-Cyclone Reconstruction and Livelihood Support Project. • Funding Structure: • US$ 100 Mn from ADB concessional General Capital Resources. • US$ 100 Mn from ADB regular General Capital Resources. • Targeted Impact: Supports recovery following Cyclone Ditwah with focus on: • Rehabilitation of road infrastructure. • Reconstruction of damaged irrigation systems. • Restoration of housing and livelihoods for affected families.

Read more →

📈 Sri Lanka’s Official Poverty Line Rises to Rs. 17,592 in June 2026

Sri Lanka’s national official poverty line increased to Rs. 17,592 per person per month in June 2026, according to provisional data released by the Department of Census and Statistics (DCS). The threshold represents the minimum expenditure needed to meet basic needs, adjusted via the National Consumer Price Index (NCPI). • Overall National Figures: • Monthly Change: Up by Rs. 277 (+1.6% MoM) from Rs. 17,315 in May 2026. • Annual Change: Up by Rs. 1,108 (+6.7% YoY) from Rs. 16,484 in June 2025. • Highest District Thresholds: • Gampaha: Rs. 18,579 (highest in the country) • Colombo: Rs. 18,575 • Nuwara Eliya: Rs. 18,500 • Lowest District Thresholds: • Moneragala: Rs. 16,821 (lowest in the country) • Kilinochchi: Rs. 16,995 • Hambantota: Rs. 17,092 • Key Context & Policy Note: • The index measures minimum basic needs threshold, not average living expenditure or adequate living standards. • Methodology is anchored to the 2012/13 Household Income and Expenditure Survey, raising questions over whether the decade-old basket accurately reflects current household living costs and consumption patterns in 2026.

Read more →

📈 Ways & Means Committee Calls for Urgent Tax Digitalization & Reforms

• Fiscal Sector Review: The Parliamentary Committee on Ways and Means reviewed Sri Lanka’s 2026 tax plan, revenue collection progress up to June 30, 2026, and existing tax compliance levels with Ministry of Finance and Inland Revenue Department officials. • Digital Systems & RAMIS: Emphasized accelerating digital services and upgrading the Revenue Administration Management Information System (RAMIS) to enhance electronic registration, filing, payments, and inter-institutional data sharing. • Expanding Tax Base: Highlighted key measures to widen the taxpayer base, including bringing informal economic activities into the formal tax net and addressing taxation on digital services. • Key Challenges: Identified critical hurdles in tax administration, including system integration, tech infrastructure upgrades, and building specialized human resource capacity to sustain fiscal stability.

Read more →

📈 Sri Lanka Tax Concessions to BOI and Projects Top Rs. 276 Bn

• Overall Figures: According to the Finance Ministry’s Tax Expenditure Report, identified tax concessions extended to Board of Investment (BOI) enterprises and Strategic Development Projects (SDPs) exceed Rs. 276 billion, reflecting varied tax periods. • Corporate Income Tax: BOI corporate income tax expenditure reached Rs. 171.37 billion for the 2024/25 basis year (against a 30% standard rate), while SDPs recorded Rs. 18.39 billion. • Border Levies & VAT: BOI customs duty, PAL, and CESS concessions totaled Rs. 76.13 billion through May 2026. Meanwhile, BOI VAT expenditure stood at Rs. 9.58 billion in 1Q 2026, led by manufacturing and textiles & garments. • Note: The report does not quantify wider economic benefits or net fiscal impact from these incentives based on these data alone.

Read more →

## 📈 Sri Lanka SOE Reforms: Progress & Next Steps

• Overview: The NPP Government has delivered unprecedented momentum in public sector and state-owned enterprise (SOE) reforms over the past 18 months, addressing long-standing fiscal drains and structural inefficiencies. • Core Structural Actions: Building on foundational frameworks laid by the SOERU, the administration is unbundling monolithic entities like the Ceylon Electricity Board (CEB), enforcing cost-reflective utility pricing, and advancing nationwide digital governance to eliminate corruption. • Strategic Priorities: Key reform measures include cutting treasury bailouts, eliminating political patronage via independent merit-based boards, rationalizing workforce overstaffing, and deploying public-private partnerships (PPPs) for state assets.

Read more →

📈 Record Worker Remittances Surge to US$ 777.6 Mn in July 2026

• Monthly Figures: Inflows rose 11.51% YoY to US$ 777.6 Mn, surpassing July 2025's high of US$ 697.3 Mn. Monthly remittances also grew 12% compared to June 2026 (US$ 695.02 Mn). • Cumulative Growth: Remittances for the first seven months of 2026 reached over US$ 5.38 Bn, up 21.4% YoY—marking the strongest January–July performance in Sri Lanka's history. • Macroeconomic Impact: Serving as Sri Lanka's largest source of foreign exchange, workers' remittances continue to strengthen external reserves and maintain broader macroeconomic stability amid external pressures on exports and tourism. • Historical Recovery: Following a historic low of US$ 3.78 Bn in 2022, inflows rebounded to US$ 5.96 Bn (+57%) in 2023, US$ 6.57 Bn (+10.1%) in 2024, and reached an all-time high of US$ 8.07 Bn (+23%) in 2025.

Read more →

Appointments & Executive Moves

(22)

📈 HDFC Bank Appoints H.B. Keerthirathna as New Chairman

• Appointment Details: Housing Development Finance Corporation Bank of Sri Lanka PLC (HDFC Bank) announced senior banker H.B. Keerthirathna as its new Chairman. • Industry Experience: Brings over 35 years of finance industry experience across banking & finance, housing finance, international trade, treasury back office, strategic planning, and corporate management. • Career History: • Began career at Sampath Bank PLC in 1988, retiring as Assistant General Manager – Finance. • Served as Consultant for Sampath Bank Group, leading strategic turnarounds for subsidiaries including Siyapatha Finance PLC, Sampath Centre Co. Ltd., SC Securities Co. Ltd., and Sampath IT Solution Co. Ltd. • Former Chief Financial Officer of Fintrex Finance Ltd. • Education & Credentials: Holds a B.Com (Special) First Class Honours and MBA from the University of Colombo. Certified Business Accountant (CA Sri Lanka) and Associate member of the Institute of Bankers of Sri Lanka (IBSL). Completed executive programs at Harvard Business School and Asian Institute of Management. • Current Roles: Director and Chairman of the Board Investment Sub Committee at the National Insurance Trust Fund Board (NITF), while providing financial consultancy via Professional Business Consultants Ltd.

Read more →

📈 CSE Revokes Trading Suspension as Richard Pieris Securities Restructures Leadership

• Regulatory Update: The Colombo Stock Exchange (CSE) has revoked the intended suspension of trading activities for Richard Pieris Securities, allowing the stockbroking firm to resume full operations. • Leadership & Governance: The company appointed a new Chief Executive Officer (name undisclosed) alongside experienced key management personnel in investment services to strengthen corporate governance and regulatory compliance. • Parent Group Support: Backed by parent conglomerate Richard Pieris Group (Arpico)—which employs 17,000 people—the firm aims to ensure operational continuity and deliver reliable services across Sri Lanka's capital market.

Read more →

📈 SHRM Expands Presence in Sri Lanka & Appoints New Country Lead

The Society for Human Resource Management (SHRM), representing ~340,000 global members, has strengthened its direct footprint in Sri Lanka to enhance human resources capability building and organizational consulting. • Leadership & Strategic Focus: • Oshana Dias appointed as Country Lead for SHRM Sri Lanka. • Business led by Dedeepya Ajith John (Senior Director – Consulting & BD, SHRM India & APAC) and supported by Senior Consultant Kaavya Sasidharan. • Deepens local operations beyond its ongoing association with the Association of Human Resource Professionals (AHRP). • Core Offerings & Sector Impact: • Expanded access to globally recognized SHRM-CP and SHRM-SCP certifications. • Delivery of consulting services spanning talent management, leadership development, workforce planning, and HR transformation. • Introduction of local master classes covering HR and AI, HR analytics, and change management to support workforce modernization. • Pricing & Regional Access: • Special promotional SHRM membership rate offered at US$ 49 for Sri Lankan HR professionals. • Preferential delegate rate of US$ 215 for the SHRM India Annual Conference (Nov 26–27, 2026). • Sri Lankan firms and leaders gain eligibility for the 15th SHRM HR Excellence Awards.

Read more →

📊 Central Finance Appoints Manjula de Silva as Chairman; Sellathurai Prabagar Joins Board

Central Finance Company PLC has announced key board appointments to strengthen its strategic governance and operational leadership, effective 16 August 2026. • Board Leadership Changes: • Manjula de Silva appointed as Chairman (previously Senior Director since May 2025 and Board member since July 2020). • Veteran banker Sellathurai Prabagar joins as an Independent Non-Executive Director. • Profiles & Expertise: • Manjula de Silva: Former Secretary General/CEO of the Ceylon Chamber of Commerce and ex-Managing Director/CEO of HNB Assurance PLC. Held prominent public and private sector roles, including Chairman of NITF, SEC Commission Member, and Director General of PERC. • Sellathurai Prabagar: Bring 30+ years of banking and financial sector experience. Former Chief Operating Officer and Executive Director of Commercial Bank of Ceylon PLC, with expertise in corporate governance, risk management, and cross-border expansion. • Strategic Context: • Strengthens Central Finance's leadership within Sri Lanka's non-banking financial institutions (NBFI) sector by bringing extensive expertise in regulation, corporate governance, and risk oversight.

Read more →

🏦 MBSL Announces New Board Appointments

Merchant Bank of Sri Lanka and Finance PLC (MBSL) has appointed two new Non-Executive Directors to its Board, enhancing leadership in corporate law and the banking & finance sector. • Key Board Appointments: • Mangala Niyarepola (Independent Non-Executive Director): Supreme Court Attorney-at-Law and UK Solicitor with over 26 years of experience in civil, corporate, and commercial litigation in Sri Lanka and the UK. Holds an LL.M. in Corporate Law from King’s College London and serves as Lead Counsel at Ceylits Chambers. • Sampath Perera (Non-Independent Non-Executive Director): Senior banking professional with over 20 years of experience across credit management, development lending, Treasury, and FOREX operations. Currently serves as Deputy General Manager (Development Lending & Branch Credit) at Bank of Ceylon (BOC). • Strategic Impact: • The appointments bring robust expertise in corporate litigation, regulatory compliance, credit risk management, and strategic leadership to support MBSL's governance within the Sri Lankan banking & finance market.

Read more →

🇱🇰 Sri Lanka Bids for Historic WFUNA Vice Presidency 📈

• Key Highlights: - Dr. M.M.M. Rushanudeen, Secretary-General of UNA-Sri Lanka, is contesting for the Vice President post at the World Federation of United Nations Associations (WFUNA). - Represents the first Sri Lankan candidate for this leadership position in UNA-Sri Lanka's 76-year history. - Nominated by UNA-Sri Lanka and formally seconded by the People’s Republic of China. • Assembly & Election Details: - Election will take place at the 44th WFUNA Plenary Assembly at WHO Headquarters, Geneva (August 23–30, 2026). - Contesting against candidates from 6 other nations: USA, Colombia, Iceland, Pakistan, Somalia, and Tanzania. - Requires a 2/3 majority vote from participating member countries among 100+ global delegates to secure victory. • National Context & Delegation: - The delegation heads to Geneva to bolster Sri Lanka’s international civil society presence and diplomatic reach within multilateral forums. - Accompanying delegates include National Executive Committee Chairperson V. Dharmadasa, Vice Chairman M.D. Lalith Peiris, and Member M.J.M. Irshad.

Read more →

Thushantha Karunanayake Appointed ICC Chief Country Rep. in Sri Lanka 📈

• Key Leadership Appointment: The Indian Chamber of Commerce (ICC), founded in 1925, has named Thushantha Karunanayake as Chief Country Representative for Sri Lanka. The announcement was made during the India–Sri Lanka Bilateral Delegation Visit. • Role & Objectives: Karunanayake will lead efforts to strengthen bilateral trade, promote investment, support business delegations, engage policymakers, and create cross-border strategic partnerships between Sri Lankan and Indian enterprises. • Industry Experience: Karunanayake currently heads PCL Solutions Ltd., a member of the MJF Group—the parent organization of the globally recognized Dilmah Tea brand. He brings extensive leadership background in business development, strategic planning, and international industrial solutions to drive regional economic cooperation.

Read more →

📈 Pan Asia Bank Appoints New Leadership to Drive Strategic Growth

Pan Asia Bank has officially appointed B.D.A. Perera as Chairman and Ayodhya Iddawela Perera as Deputy Chairperson, effective 3 August 2026, to strengthen its governance and long-term expansion goals. • New Appointments & Leadership Roles • B.D.A. Perera (Chairman): Succeeds Aravinda Perera, who served as Chairman for nine years. He has been on the Board since April 2021 and previously served as Deputy Chairman and Senior Independent Director. He brings over two decades of financial sector experience and currently serves as Executive Director at LB Finance PLC. • Ayodhya Iddawela Perera (Deputy Chairperson): Appointed as an Independent Non-Executive Director in April 2026. She is a veteran in the banking sector with over 36 years of experience, including her role as Managing Director of Sampath Bank PLC (2023–2025). • Strategic Context & Governance • The executive appointments aim to enhance the bank's governance framework while accelerating strategic focus on digital transformation, customer-centric innovation, sustainable finance, and operational excellence in Sri Lanka's banking & financial services sector.

Read more →

📈 Softlogic Capital PLC Appoints Kalum de Silva as Independent Non-Executive Director

• Board Appointment: Softlogic Capital PLC has appointed Kalum de Silva to its Board as an Independent Non-Executive Director to strengthen corporate governance and strategic execution. • Experience & Expertise: De Silva brings over 20 years of global expertise in financial services, private equity, M&A, and growth advisory, having served in major leadership roles across Australia and South Asia. • Key Leadership Credentials: • Former Partner at an Australian private equity firm managing A$ 230 Mn in Funds Under Management (FUM). • Founding President of the Sri Lanka and Australia Chamber of Commerce, actively facilitating bilateral trade and investment. • Current Independent Non-Executive Director at Asiri Hospital Holdings PLC and Asiri Surgical Hospital PLC within the healthcare sector. • Co-founder of the Australasian Academy in Sri Lanka's education sector. • Qualifications: Holds an MBA and Master of Professional Accounting from Queensland University of Technology, alongside CPA, GAICD, and SLID credentials.

Read more →

📱 Bharti Airtel’s Tarun Kumar Joins Dialog Axiata Board

• Appointment Details: Tarun Kumar appointed as Non-Independent, Non-Executive Director to Dialog Axiata PLC board, effective 31 July 2026. • Executive Experience: Brings over 22 years in telecommunications, including 5+ years in CXO roles. Currently National Head – Sales & Distribution at Bharti Airtel and CEO of its Tamil Nadu Circle. • Key Expertise: Strategic P&L leadership, digital transformation, commercial operations, and building high-performing teams to support corporate governance and long-term value creation. • Shareholding Context: As of 31 March 2026, Axiata Investments (Labuan) Ltd. holds a 73.75% controlling stake, followed by Bharti Airtel Ltd. at 10.36%, and the Employees’ Provident Fund (EPF) at 2.79%.

Read more →

Lt. Gen. Nilantha Premaratne Appointed 26th Sri Lanka Army Commander 🎖️

• Appointment & Promotion: President Anura Kumara Dissanayake has appointed Major General Nilantha Premaratne as the 26th Commander of the Sri Lanka Army, promoting him to the rank of Lieutenant General effective August 1, 2026. The appointment letter was presented by Presidential Secretary Dr. Nandika Sanath Kumanayake. • Succession: He succeeds General Lasantha Rodrigo following his retirement from the post. • Career & Background: • Joined the Sri Lanka Army as an Officer Cadet in 1990 and commissioned as a Second Lieutenant in 1992 in the Sri Lanka Artillery Regiment. • Served a 36-year military career holding key senior command and staff positions, including Chief of Staff. • Qualifications & Awards: • Holds Master's degrees in Defence Studies from the Naval Postgraduate School (USA) and the University of Kelaniya. • Recipient of the Rana Sura Padakkama (RSP) twice for gallantry during humanitarian operations, and the Uttama Seva Padakkama (USP) for distinguished service.

Read more →

📈 Ceylon Tobacco Appoints Adrian Lee Peng Yong as Finance Director

Ceylon Tobacco Company PLC (CTC) has announced the appointment of Adrian Lee Peng Yong as its new Finance Director, effective 1 August 2026. • Corporate Leadership: Adrian brings 20 years of cross-functional finance and strategic leadership experience within the British American Tobacco (BAT) Group across Asia Pacific, Middle East, and Africa (APMEA). • Previous Roles: Most recently served as Finance Director for BAT Malaysia and Singapore Cluster. He also previously held the position of Regional Head of Operations Finance for APMEA. • Governance & Performance: Recognized for driving financial growth, productivity agendas, and corporate governance—leading BAT Malaysia to 1st place in Consumer Products at the MSWG-NACGSA Corporate Governance Awards. • Strategic Focus: In his new role at CTC, he will oversee financial stewardship, sustainability, and commercial growth initiatives in Sri Lanka. • Qualifications: Holds a Bachelor of Business Management (Double Major in Finance & Marketing) from Singapore Management University.

Read more →

Sustainability, ESG & Corporate Responsibility

(50)

📈 APAC Leaders Convene in Colombo for Sustainable Business Growth

• Event Overview Over 200 business leaders, policymakers, UN representatives, and sustainability experts gathered in Colombo on August 11–12 for Forward Faster Now APAC 2026. Hosted by Global Compact Network Sri Lanka and organized by the UN Global Compact APAC Hub in collaboration with 14 country networks across 16 regional nations, the event focused on driving private sector leadership for sustainable and inclusive economic growth. • Core Focus Areas To combat climate risks, geopolitical uncertainty, and technological disruption, participants explored practical approaches in key focus areas: • Climate action & water resilience • Sustainable finance & circular economy solutions • Digital innovation & governance & accountability • Gender equality & business & human rights • Strategic Collaboration & Implementation The forum emphasized that cross-sector partnerships—connecting businesses, governments, investors, and civil society—are vital to achieving Sustainable Development Goals (SDGs), building resilient supply chains, and boosting long-term regional competitiveness. • Key Side Initiatives An in-person session of the APAC Chief Sustainability Officers Peer Learning Group convened 20 CSOs from prominent regional firms. The year-long initiative aims to break down functional silos and embed sustainability directly into core business operations.

Read more →

📈 UNGC Chief: Responsible Business Key to Sri Lanka's Long-Term Economic Recovery

• Strategic Focus & Governance: UN Assistant Secretary-General and UN Global Compact (UNGC) CEO Sanda Ojiambo emphasized that ethical leadership, anti-corruption, and strong ESG governance are essential for long-term business resilience, attracting international capital, and ensuring fair market competition in Sri Lanka. • SME & Supply Chain Integration: Small and Medium Enterprises (SMEs)—which make up 50% of UNGC participants—can enhance export readiness, access green loans, and qualify for global supply chains (especially in Europe) by integrating early sustainability credentials. • Regional Competitiveness: Sri Lankan businesses across textiles, manufacturing, and consumer goods are already well-positioned in regional and global markets. Adherence to strict environmental, quality, and labor standards strengthens export competitiveness beyond domestic needs. • Institutional Support & Coalitions: The newly launched Responsible Business Coalition with the Colombo Stock Exchange aims to connect private sector initiatives with national economic recovery plans, while leveraging Sri Lanka’s economic agility to adapt quickly to global shocks.

Read more →

CSE and UN Global Compact Launch Responsible Business Coalition in Sri Lanka 📈

• Key Highlights: The Colombo Stock Exchange (CSE) partnered with the UN Global Compact to host a "Ring the Bell for Responsible Business" ceremony and officially launch the Responsible Business Coalition. • Core Objective: Embed sustainability, corporate governance, and the UN Global Compact’s Ten Principles directly into executive leadership, boardrooms, and capital market frameworks. • Strategic Impact: Emphasizes the role of capital markets in driving sustainable finance, transparent corporate governance, and long-term investor confidence to align with global Sustainable Development Goals (SDGs). • Coalition Leadership: Convened by UN Global Compact Network Sri Lanka, founding members include the Sri Lanka Bankers' Association – Sustainable Banking Initiative (SLBA-SBI), Sri Lanka Institute of Directors (SLID), and the Centre for Smart Future, with support from the CSE and Ceylon Chamber of Commerce.

Read more →

Sri Lanka Proposes 30-Year National Master Plan to Address Escalating Human-Elephant Conflict 🐘

• Escalating Economic & Human Impact: Human-Elephant Conflict (HEC) poses significant social and economic costs, recording 488 elephant deaths and 154 human fatalities in 2023. Over 70% of wild elephants live outside protected areas, impacting rural agriculture and livelihoods. • Landscape Stewardship & EMRs: Shifting from reactive measures (fences, translocations) to Elephant Managed Ranges (EMRs) to integrate agriculture and seasonal habitats, driving direct economic benefits and local community stewardship. • Presidential Initiative & Master Plan: Proposes a multi-sectoral Presidential Initiative and a 30-year National Elephant Conservation Master Plan (2027–2057) to integrate land-use planning across agriculture, tourism, and rural development. • Economic & Ecological Co-Benefits: Strategic coexistence aims to safeguard watersheds, boost eco-tourism, strengthen food security, and leverage modern tech (AI, predictive analytics) alongside biodiversity finance and carbon markets.

Read more →

🇱🇰 Sri Lankan Banking Sector: Seylan Bank Supports Annual Aadi Vel Festival

• Event Overview: The annual Aadi Vel (Addivel) Chariot Festival was held recently, with the central chariot traveling along Galle Road to reach the New Kathiresan Temple in Bambalapitiya. • Corporate Engagement: The Vel Chariots stopped at the Seylan Bank Head Office, where the procession was received by Seylan Management and staff. • Community Outreach: Seylan Bank staff participated in special religious poojas to receive blessings and distributed refreshments and sweets to attending devotees. • Strategic Focus: Demonstrates corporate commitment to cultural inclusivity, community engagement, and public goodwill in key urban commercial centers.

Read more →

🇱🇰 Sri Lanka Reaches 1M Landmine Clearance Milestone

• Milestone & Key Statistics • 1 million landmines cleared across Sri Lanka over the past 17 years. • Annual casualties dropped dramatically from ~250 down to 3 in 2024. • Enabled ~1 million displaced people to return safely to their homes. • Mines Advisory Group (MAG) has made ~103 km² of land safe across 7 districts since 2002. • High-Profile Visit • MAG Ambassador Rosamund Pike is visiting northern minefields in Mannar and Mullaitivu. • Engagements include meeting local communities, deminers, Prime Minister Dr. Harini Amarasuriya, and Mine Action Centre officials. • Socio-Economic Impact • Land clearance accelerates post-conflict recovery by unlocking safe land for farming, housing, and infrastructure development to support sustainable local livelihoods.

Read more →

🌱 BOI Urges Daily Commitment to Environmental Sustainability and Quality Production

• Core Focus: The Board of Investment of Sri Lanka (BOI) called on its staff and approved enterprises to treat environmental protection as a continuous daily discipline rather than a periodic observance. • FDI & Sustainability Standards: Director General Dr. Sulakshana Jayawardena emphasized that as the apex body driving foreign direct investment (FDI), the BOI must ensure enterprises operate with credible, evidence-based practices rather than verbal assurances. • Key Execution Areas: - Demonstrating verifiable progress in Good Manufacturing Practices (GMP) and sustainable supply chain management. - Reinforcing the role of the BOI Department of Environment in implementation. - Promoting sustainable land use across the investment & manufacturing enterprise network. - Integrating traditional knowledge into current production and environmental strategies.

Read more →

🌱 Delft Island to be Developed as Sri Lanka’s First Zero Emission Eco-Tourism Destination

The Government of Sri Lanka has initiated plans to transform Delft Island into the country's flagship Zero Emission destination, focusing on sustainability, environmental conservation, and heritage preservation. • Strategic Vision & Objective: - Aims to unlock the island's untapped tourism potential for both domestic and international visitors. - Positions eco-tourism and sustainable tourism as model frameworks to promote renewable solutions nationwide. • Priority Infrastructure & Community Focus: - Infrastructure Upgrades: Essential improvements to water supply, road networks, transportation, and island accessibility. - Community Empowerment: Enhancing knowledge and hospitality skills among local residents to support community-based livelihoods. - Asset Preservation: Protecting unique Dutch-era ruins, archaeological landmarks, and wild horses while establishing eco-friendly practices. • Stakeholder Engagement: - Led by Deputy Minister of Tourism Prof. Ruwan Ranasinghe alongside Jaffna District representatives, local authorities, government officials, and the local community. - Supported by the Sri Lanka Tourism Development Authority (SLTDA) and Sri Lanka Tourism Promotion Bureau (SLTPB).

Read more →

🎨 People’s Bank Unveils ‘A Gallery in the Bank’ Documentary

• Documentary Screening: People’s Bank hosted a special screening of ‘A Gallery in the Bank – Priceless Treasures of People’s Bank’ at People’s Tower in Colombo 02, showcasing 12 rare, culturally significant artworks from its collection. • Artistic Legacy: The production highlights masterpieces created by celebrated Sri Lankan artists, including George Keyt, Pushpananda Weerasinghe, Senaka Senanayake, Wimal de Silva, Jayantha Premachandra, Nadine David, Yasantha Boange, B. Wimalaratne, Richard Gabriel, Upasiri, and Ismeth Raheem. • Honoring Masters: Special tokens of appreciation were presented to living featured artists Ismeth Raheem, Nadine David, Senaka Senanayake, and B. Wimalaratne. Notably, B. Wimalaratne is the only featured artist who also served as a People’s Bank employee. • Corporate Role: The initiative underscores the institution's commitment to arts & cultural heritage preservation alongside its primary sector of banking & financial services. • Public Availability: Researched and presented by Angeline Ondaatjie and directed by Sulochana Peiris, the documentary is now publicly accessible on People’s Bank’s official Facebook page and YouTube channel.

Read more →

🐘 Sri Lanka Gazettes Three Major Elephant Corridors to Curb HEC

• Overview & Legal Status: The Government of Sri Lanka officially cleared and gazetted three key traditional elephant migration corridors—Kohombankala, Handapanagala, and Wetahirakanda. While formal gazetting strengthens the legal framework for the Department of Wildlife Conservation (DWC), experts emphasize that enforcement against encroachment is critical to preventing them from remaining mere "paper corridors." • Key Geography & Linkages: These ancient pathways connect vital national parks—including Yala, Lunugamwehera, and Udawalawe. Designed by elephant herds over centuries through matriarchal social memory, these corridors span widths between 500 meters to 1.5 km to facilitate safe seasonal movement. • Economic & Conservation Impact: Unplanned development, agricultural expansion, and infrastructure built across traditional pathways have heightened the Human-Elephant Conflict (HEC). Effective management requires land-use planning, deterrent buffer crops (chili, citrus, ginger), and scheduled nighttime electric fence road closures to protect ecotourism, agriculture, and rural livelihoods. • Challenges: Beyond legal recognition, successfully restoring these ecological linkages depends on active habitat restoration, strict enforcement against unauthorized settlements, and overcoming political interference in boundary protection.

Read more →

🐆 National Forum Launched to Strengthen Sri Lankan Leopard Conservation

Opposition Leader Sajith Premadasa is hosting Sri Lankan Leopard Day 2026 in Colombo 7 to drive national efforts toward protecting the endemic species. • Core Forum Objectives: Brings together policymakers, scientists, government institutions, civil society, and corporate stakeholders to foster multi-sectoral collaboration on conservation policy, research, and public awareness. • Key Threats Addressed: Focuses on major threats impacting the species, including habitat fragmentation, snaring, poisoning, road fatalities, and wildlife crime. • Youth Engagement: Features active participation from students and young conservation leaders to encourage long-term involvement in biodiversity protection. • National & Economic Significance: Emphasizes wildlife conservation as a national responsibility essential for safeguarding ecosystems, driving sustainable development, and supporting Sri Lanka's eco-tourism potential.

Read more →

📈 UK Launches £ 2.34 Mn 'Resilient Waves' Initiative for Sri Lanka's Coastal Economies

• Program Overview: The UK Department for Environment, Food and Rural Affairs (DEFRA) has launched a £ 2.34 Mn grant initiative, Resilient Waves, running through March 2029 under the Blue Planet Fund. Selected from over 370 global applications, the project aims to build climate resilience and safeguard marine biodiversity. • Target Regions & Drivers: Active in the coastal districts of Batticaloa and Mullaitivu, the initiative addresses three core challenges: multidimensional poverty, climate vulnerability, and economic exclusion among vulnerable fishing communities. • Key Sector Interventions: • Habitat Restoration: Rehabilitating degraded coral reefs and mangrove ecosystems through scientific assessments. • Livelihood Diversification: Expanding aquaculture as a primary alternative to marine fishing, focusing on sea bass, tilapia, sea cucumber farming, and cage culture. • Inclusive Governance: Empowering Fisheries Cooperative Societies, expanding women's economic participation, and linking local enterprises directly to financial institutions and private sector value chains. • National Context: Implemented by Acted alongside a local consortium, the program aligns with Sri Lanka's Nationally Determined Contributions (NDCs) and National Adaptation Plan to support climate-smart adaptation in coastal fisheries.

Read more →

Startups & Entrepreneurship

(7)

📈 EDB Drives Digital Pathways for Women Exporters

• Initiative Overview: The Sri Lanka Export Development Board (EDB), operating through the SheTrades Sri Lanka Hub, conducted an awareness programme titled "Using Social Media for Export Marketing" at the Divisional Secretariat Office, Panadura. • Knowledge & Capacity Building: Partnering with knowledge partner Foundation.lk, the event provided practical expertise in digital marketing, online business development, and social media tools to strengthen women-led enterprises and enhance their online visibility. • Market Reach & Export Growth: Targeted at women entrepreneurs seeking international expansion, the programme focused on using digital channels to connect with potential global customers, access foreign markets, and build readiness for export marketing and trade.

Read more →

🌱 EthicalX Opens Applications for 2026 Climate Innovation Cohort

EthicalX: Climate & Innovation Hub, a global initiative by Clima Trust and SLYCAN Trust, has officially opened applications for its 2026 cohort and affiliate network. Announced at the EthicalX Entrepreneurship Gathering in Colombo on August 6, 2026, the program aims to scale ethical and sustainable ventures in Sri Lanka and globally. • Overview & Key Focus: • Target sectors: Sustainable food systems, fashion & lifestyle, and creative communication. • Structure: Offers mentorship, technical support, policy linkage, and global networking opportunities. • Funding: Financial support for selected ventures, including lifestyle startups via a partnership with c.fuge. • Addressing Ecosystem Challenges: • Aims to bridge critical growth hurdles for early-stage Sri Lankan enterprises, such as limited access to finance, market restrictions, and gaps in technical expertise. • Connects grassroots entrepreneurs directly with public/private sector stakeholders and policymaking processes. • Track Record & Ecosystem Impact: • Founded in Sri Lanka in 2022, EthicalX has expanded globally to foster climate action, local economic empowerment, and sustainable diversification. • Supported alumni include local startups like Star Mushrooms and Eastern Soy Products, leveraging the hub for scaling and product development.

Read more →

📈 Ceylon Chamber to Host "Scale Up 2.0" National SME Forum 2026

The Ceylon Chamber of Commerce will host "Scale Up 2.0", the National SME Forum 2026, on 11 August 2026 at the Taj Samudra, Colombo, under the theme "Connected, Competitive, Ready to Grow". • Event Focus & Key Objectives: The forum is designed to address pressing operational challenges facing Sri Lanka's Small and Medium Enterprises (SMEs), helping them scale operations, secure financing, and expand market access. • Core Focus Areas: • Market Access: Creating pathways for SMEs to connect with larger enterprises and integrate into local and global value chains. • Standards & Competitiveness: Improving process credibility through quality standards and official certifications. • Sustainable Expansion: Enhancing investment readiness, business practices, and access to appropriate financing options. • Platform & Networking: • Features participation from policymakers, industry leaders, financial institutions, and business support organizations. • Includes a dedicated B2B networking segment for direct corporate engagement, partnership exploration, and resource sourcing.

Read more →

📈 MAS Holdings Backs Syntetica’s $30M Series A for Nylon Recycling

French deep tech startup Syntetica secured US$ 30 Mn in Series A funding to scale technology for recycling complex textile waste. The investment round was led by Bpifrance’s Ecotechnologies 2 fund, with participation from Sri Lankan apparel & textiles giant MAS Holdings, lululemon, SWEN Capital Partners, EQT Ventures, and key family offices. • Funding & Expansion: The US$ 30 Mn round will fund Syntetica's first commercial demonstration facility in France in partnership with Michelin. The plant will scale the process from laboratory testing to processing hundreds of tonnes of textile waste annually. • Technical Breakthrough: Syntetica developed a proprietary process to recycle both Nylon 6 and Nylon 6,6 together from mixed waste without prior separation, overcoming a major technical hurdle in apparel & textiles circularity. • Market & Sector Relevance: - Global nylon production reached ~7 million tonnes in 2024, but recycled nylon accounts for only ~2% of the market due to processing challenges. - Over 80% of household textile waste is currently incinerated or landfilled. Syntetica targets post-consumer waste to build circular supply chains. - MAS Holdings leverages its manufacturing expertise to scale circular material solutions, reinforcing Sri Lanka's positioning in sustainable global apparel & textiles supply chains.

Read more →

Chalinda Abeykoon: Building Sri Lanka’s Global Startup Ecosystem 📈

• Overview: Venture capitalist Chalinda Abeykoon, co-founder at nVentures, highlights the evolution of Sri Lanka’s ICT/BPM and startup ecosystem—from early government-led initiatives to cross-border venture capital investments. • Startup Evolution: • Started Spiralation, Sri Lanka’s first tech startup incubator at ICTA, aiding ~75 tech companies in securing quality certifications and training 25,000+ students in international certifications. • Organized early island-wide hackathons, connecting youth across Jaffna, Kandy, and the South to foster local talent. • Investment Strategy & Exits: • Currently manages Singapore-domiciled VC fund nVentures to facilitate institutional exits, governance, and foreign capital inflows. • Focuses on founder-market fit and high-growth potential over traditional metrics. • Enables local startups to build globally relevant software and AI products directly from Colombo. • Creating a sustainable funding cycle: early founders from Fund 1 are now reinvesting as LP investors in Fund 2 to build local wealth.

Read more →

📈 Binod Chaudhary’s 'Made in Nepal': Key Takeaways for Business Leaders

• Core Themes: Review of Nepal’s first dollar billionaire's memoir, focusing on institutional stewardship, long-term resilience, and global diversification over instant scaling. • Business & Enterprise: Highlights CG Corp Global’s evolution from local enterprise to global conglomerate via Wai Wai noodles, illustrating how regional brands can scale internationally despite economic and political instability. • Legacy & Leadership: Emphasizes structured succession planning, empowering the next generation, and maintaining national identity as a competitive advantage in international markets. • Event Note: Binod Chaudhary will speak at the Colombo Literary Festival on July 24–25, 2026.

Read more →

👗 Ye Couture: Sri Lankan Luxury Fashion Brand Expands Globally

Founded in 2014 by designer Buddhika Kodikara, luxury-clothing brand Ye Couture is expanding its footprint from high-profile local entertainment to international retail, driving growth in the apparel & textiles sector through designer wear. • Global & Local Expansion: Following its establishment in the domestic market, the brand expanded its international reach by opening its first store in the USA in 2025. Plans are also underway to launch a dedicated ready-made clothing store in Sri Lanka, contributing to retail sector diversification. • Market Presence & Portfolio: The brand has solidified its position through high-profile costume designing for major national television franchises (including Voice Teen Sri Lanka and Hiru Avurudhu Kumariya) and a celebrity clientele featuring prominent Sri Lankan figures. • Inclusive Innovation: Demonstrating a commitment to niche market diversification, the brand has developed a specialized clothing line tailored for children with special needs. • Economic Outlook: Supported by local operational teams, the brand aims to elevate Sri Lankan craftsmanship and design talent on the global fashion map, positioning local high-fashion as a viable export and creative industry segment.

Read more →

Real Estate

(12)

🏢 CVU Colombo Forum 2026 Tackles High-Rise Safety & Resilience

The Council on Vertical Urbanism (CVU) Sri Lanka Chapter hosted the Colombo Forum 2026, gathering local and international experts under the theme “Design to Survive: Tall Buildings in an Age of Global Instability” to address rising physical, technological, and geopolitical risks facing vertical urban centers like Colombo. • Key Industry Focus & Technical Highlights: • Urban Infrastructure & Planning: Stressed a 25-year forward-looking strategy to protect tall structures from evolving threats, including climate risks, geopolitical tensions, and drone hazards. Emphasized integrated 3D urban design. • Construction & Steel Systems: Experts noted composite steel systems dominate the world’s 100 tallest buildings. Reusing structural steel reduces embodied carbon emissions to near-zero (carrying just 1% of traditional steel production emissions)—crucial as structural floors account for ~70% of a building's embodied carbon. • Protective Engineering: Highlighted mathematical risk-based blast protection, emphasizing optimal perimeter defenses (e.g., 10-11m standoff distances offering a 6:1 benefit-to-cost ratio). • Key Milestones & Initiatives: • International Launch: Officially launched the IAPS Sri Lanka Chapter (led by Prof. Ranjith Dissanayake) to strengthen resilience against structural hazards, coastal threats, and cyclones. • Technical Standards: Unveiled technical manuals including the "Design Calculation Manual - Reinforced Concrete High-rise Building Design" to assist peer-reviewed local engineering, notably for Colombo Port City developments.

Read more →

🏛️ Govt. Invites Bids to Commercialise Heritage Bungalows in Colombo 5

• Transaction Overview The Ministry of Finance, Planning and Economic Development has called for Expressions of Interest (EOIs) to unlock the value of prime State-owned heritage bungalows in Colombo 5. The properties will be offered via a transparent National Competitive Selection Process on 30-year lease agreements, while full ownership of land and buildings remains with the Government. • Property Scope & Locations The portfolio includes architecturally distinctive properties situated in one of Colombo's most sought-after residential and commercial precincts: - Stanmore Crescent, Colombo 5 - Paget Road, Colombo 5 - Skelton Road, Colombo 5 • Target Sectors & Sectoral Impact The initiative forms part of a broader national strategy to stimulate private investment, revitalise underutilised public assets, and expand tourism infrastructure. Key operational concepts invited include: - Boutique hospitality and heritage accommodation - Signature fine dining, cafés, and lifestyle establishments - Premium tourism-oriented retail concepts catering to local and international visitors • Submission Guidelines & Timeline Proposals will be evaluated independently for each property, allowing investors to submit bids for single or multiple locations. - Property Inspection Date: 12 August 2026 at 10:00 AM - Proposal Deadline: 25 August 2026 - Guidelines: Available via the Finance Ministry official portal

Read more →

📈 Govt. Eyes 2027 Budget to Revive ~5,000 Stalled Housing Projects

• Overview: The Government of Sri Lanka is considering funding allocations under the 2027 Budget to complete nearly 5,000 abandoned housing units initiated under previous administrations. • Review & Assessment: • Projects were previously stalled due to non-disbursement of allocated loans and grant funding. • A five-member committee, co-chaired by two former Ministry Secretaries, is assessing project viability and identifying units immediately suitable for occupation. • Final decisions on project completion will depend on the committee's report. • Family Assistance & Sector Support: • A separate financial support program will launch next year to assist 2,000 families in completing partially built homes. • Special stakeholder meetings will address targeted initiatives, including low-income urban housing in the Colombo District. • Economic Context: This move aims to expand national housing stock and revitalize the housing & construction sector by utilizing existing unfinished assets.

Read more →

Rs. 20Mn Viewing Platform Project Begins at Dunhinda Falls 📈

• Infrastructure Investment: Construction on a new observation platform at the iconic Dunhinda Falls in Badulla commenced on July 27, 2026, backed by an investment of Rs. 20 million. • Sector Impact: The project aims to boost tourism infrastructure by providing a safer, modernized viewing experience for local and foreign visitors in the Uva Province.

Read more →

🏛️ Sri Lanka to Lease Five Presidential Residences for Tourism Development

• Key Decision: The Cabinet has approved a proposal by President Anura Kumara Dissanayake to lease five underutilised Presidential Residences to private investors on a long-term basis for tourism development. • Target Locations: Properties are situated in Bentota, Kataragama, Mahiyanganaya, Embilipitiya, and Anuradhapura. Each location features high-end architectural designs, fully equipped facilities, and landscaped grounds. • Economic Context & Objectives: - Reduces the government's financial burden of ongoing maintenance, security, and upkeep borne by the Presidential Secretariat. - Transforms non-revenue-generating state assets into active hubs for tourism investment and regional economic activity. • Implementation Plan: Development proposals will be invited from eligible private investors through a long-term lease model, following recommendations from a dedicated committee on productive asset utilization.

Read more →

📈 John Keells Properties Unveils VIMAN Ja-Ela Show Apartment

• John Keells Properties has officially opened its on-site show apartment for the VIMAN Ja-Ela residential project, allowing prospective buyers to experience the layout, finishes, and design firsthand. • Project Overview: Spans six acres in Ja-Ela, with over 60% of the land dedicated to green and open spaces to emphasize nature and community living. • Amenities & Lifestyle: Features a resident clubhouse, swimming pool, gymnasium, walking/cycling paths, children’s play areas, outdoor social spaces, and traditional communal settings like an Ambalama. • Connectivity: Located 4 km from the Ja-Ela interchange on the Colombo–Katunayake Expressway, offering direct connectivity to major urban centers and supporting suburban real estate expansion.

Read more →

🏛️ Surveyors’ Institute of Sri Lanka Marks 100 Years of Service

• Milestone Celebration: The Surveyors’ Institute of Sri Lanka (SISL) will celebrate its centennial anniversary on 2 August 2026, marking 100 years of contributions to land administration, mapping, and national development. A technical session and gala dinner will be held at Cinnamon Lakeside, Colombo. • Historical Footprint: Established in 1926 as the Licenced Surveyors’ Association of Ceylon and incorporated by Parliament in 1982, SISL is a founding member of the Organisation of Professional Associations, CASLE, and a member of FIG. • Key National Contributions: • Advocated for the Registration of Title Act No. 21 of 1998, founding the “Bimsaviya” land titling program to minimize land disputes. • Supported the Survey Act No. 17 of 2002, modernizing legal frameworks and establishing the Survey Board. • Supported the UGC-approved degree in Surveying Sciences at Diyatalawa and the establishment of the National Hydrographic Office. • Future Focus: SISL remains committed to driving Sri Lanka’s economic and structural goals through digital land administration, geospatial innovation, sustainable infrastructure planning, and climate resilience.

Read more →

🏢 Court of Appeal Clears Home Lands’ 'Pentara Residencies' Project

• Key Ruling: The Court of Appeal dismissed two writ applications challenging the approvals for the 'Pentara Residencies' apartment project in Thummulla, Colombo 5, by Home Lands Group. • Legal Basis: The majority ruling affirmed that approvals granted by the Urban Development Authority (UDA) complied fully with the UDA Development Plan and regulations. • Court Findings: Petitioners—residents of Classen Place who filed the applications in 2025—failed to uphold the required duty of uberrima fides (utmost good faith) to the Court. • Sector Impact: Resolves legal uncertainty around a high-profile development in Sri Lanka's real estate & construction sector, paving the way for the project's continuation.

Read more →

📈 Phoenix Miras Commits to Grade-A Office Project in Port City Colombo

• Investment Agreement: Phoenix Miras Ltd. (the real estate development arm of Phoenix Ventures Ltd.), alongside Platinum Advisors, has signed an agreement to fund a Grade-A office development at Port City Colombo. • Project Details: Named Colombo Gateway, the commercial development will be located on Plot 1-01-04 within the Port City zone, aiming to establish a premier address for corporate tenants. • Economic Impact: CHEC Port City Colombo Ltd. stated that the commitment reinforces growing investor confidence in Sri Lanka's vision to develop South Asia's next connected international business and financial hub, boosting the real estate and commercial infrastructure sectors.

Read more →

💧 Japan-Funded $143M Water Project Begins in Anuradhapura

Work has officially commenced on Phase II of the Northern Anuradhapura Water Supply Project, following a foundation stone laying ceremony attended by President Anura Kumara Dissanayake and Japanese officials. The project marks a significant step in regional infrastructure recovery following recent economic challenges. • Financial & Project Scale: Funded via a concessional loan from Japan worth approximately JPY 23 billion (equivalent to ~US$ 143 Mn). • Health & Social Impact: Aims to provide a stable supply of safe drinking water to roughly 67,000 households in the Anuradhapura District. The initiative directly targets communities heavily impacted by chronic fluorosis and kidney disease. • Cumulative Reach: When combined with the already-completed Phase 1, the entire project will collectively deliver safe water access to over 75,000 households. • Economic Context: Beyond health benefits, the project establishes an essential foundation for agricultural and industrial development in the North Central Province, improving the overall quality of life and symbolizing Sri Lanka's post-crisis recovery.

Read more →

📈 Port City Colombo Targets India for Growth, Aims to Double Tourist Arrivals

Sri Lanka’s US$ 15 Bn Port City Special Economic Zone (SEZ) has placed India at the center of its growth strategy, aiming to leverage the neighboring nation for tourism, real estate, and corporate investments. • Key Tourism & MICE Targets: Annual Indian tourist arrivals to Sri Lanka are projected to double from ~600,000 last year to 1.2 million by 2030, supported by 90 existing flights connecting the nations. Port City aims to extend the average 1.5-day tourist stay in Colombo via new attractions, including a yacht marina, South Asia's first downtown duty-free retail zone, and an upcoming event air dome by Oct-Nov 2026. • Corporate & ICT Expansion: The SEZ is actively targeting Indian ICT/BPM firms and Global Capability Centres (GCCs), positioning itself as a resilient business continuity and disaster recovery location to complement India's ecosystem. Partnerships with organizations like NASSCOM for corporate events are currently being explored. • Investment & Real Estate: Indian investors and companies are estimated to contribute roughly 25% of the total investment across businesses and real estate within the project. Furthermore, international investors from regions like Southeast Asia are increasingly viewing the SEZ as a strategic gateway to the Indian market.

Read more →

📈 Home Lands Reaches Real Estate Milestone with 5,000+ Units Sold

Sri Lankan real estate market leader Home Lands Group has set a new industry benchmark by crossing the 5,000-unit milestone in sales across 24 mega lifestyle development projects. • Overall Performance: The company has sold over 5,000 resort apartments and villas, marking the highest number of unit sales by any developer in Sri Lanka. • Delivery Track Record: Over 3,750 units have been successfully delivered to homeowners. An additional 400 units are scheduled for delivery within 2026. • Project Pipeline: The group currently has more than 2,850 units under construction spanning 9 futuristic mega lifestyle development projects. • Economic & Global Impact: Operating as an integrated group of 14 companies (including its construction arm Heyraa Construction), the firm has expanded Sri Lanka's real estate & construction footprint internationally. With offices in Australia, Dubai, and London, the group continues to drive foreign investment and capital appreciation from an overseas clientele.

Read more →

Politics & Government Impact [Former BASL President claims proposed amendment aims to retain select judges for two more years](https://www.youtube.com/watch?v=pna81INtIx8) This video provides additional context from a former BASL president regarding concerns over the proposed constitutional amendment to extend judicial tenure.

No Consensus Between President and BASL on Proposed 22nd Amendment ⚖️

• Meeting Overview: President Anura Kumara Dissanayake met a 20-member delegation from the Bar Association of Sri Lanka (BASL) led by President Rajeev Amarasuriya to discuss the proposed 22nd Amendment regarding extending judges' retirement age. The nearly hour-long meeting concluded without reaching an agreement. • Government's Position: The President stated that extending judges' tenure is part of a broader, public-interest reform to enhance judicial efficiency. Key structural plans include: • Expanding CIABOC services to the district level. • Increasing the number of Court of Appeal and High Court judges, with regional Court of Appeal sittings. • Strengthening human resources across the Attorney General’s Department, Sri Lanka Police, and Government Analyst’s Department. • BASL's Concerns: The BASL strongly urged the government not to proceed with the amendment, warning that it severely threatens the independence of the judiciary. While expressing no objection to increasing judge counts, the BASL emphasized that tenure extension lacks demonstrated necessity, calling for broader consultations via a Parliamentary Select Committee before moving forward.

Read more →

Awards & Recognitions

(28)

🏆 AB Securitas Wins Gold at National Business Excellence Awards 2026

• Award Overview: AB Securitas secured the Gold Award in the Security and Technical Services – Large Category at the National Business Excellence Awards (NBEA) 2026, organized by the National Chamber of Commerce of Sri Lanka. • Core Strengths & SBUs: Operating for over 30 years, the company delivers integrated security solutions via key business units, including Static Security, Total Cash Management, Cash-in-Transit, ATM Management, Electronic Security, and the specialized KNINE Sniffer Dog Force. • Industry Credentials: First Sri Lankan security firm to earn ISO certification and receive the National Quality Award (2015). Holds the ISO 45001:2018 certification for Occupational Health & Safety Management, and maintains active leadership in SLASSPA and the Industrial Security Foundation.

Read more →

ComBank Reaffirms Status as Sri Lanka's Top Ranked Bank in Global Top 1000 List 📈

• Overall Performance & Global Ranking: Commercial Bank of Ceylon achieved the No. 1 spot among Sri Lankan financial institutions in The Banker magazine’s 2026 Top 1000 World Banks ranking. This marks the bank's landmark 14th appearance in the listing—the highest for any local bank. • Key Capital Indicators: The top local ranking is driven by a 12.1% growth in Tier I capital, the primary metric for financial health. Commercial Bank remains the first Sri Lankan bank to exceed US$ 1 Bn in market capitalisation and holds the largest capital base among domestic banks. • Banking Sector Footprint: As Sri Lanka’s largest private sector lender, the bank operates over 270 branches island-wide. Its international footprint spans 21 branches in Bangladesh, a Tier I bank in the Maldives, a microfinance unit in Myanmar, and a representative office in the DIFC.

Read more →

🎓 Six IPS Researchers Secure Prestigious Postgraduate Scholarships

The Institute of Policy Studies of Sri Lanka (IPS) celebrated six of its young researchers winning fully funded scholarships and admissions to top international universities, boosting local policy analysis capacity. • Awardees & Universities: • Suresh Ranasinghe: Commencing PhD in Economics at Nottingham Trent University, UK (Oct 2025). Previously MSc from University of Nottingham via Commonwealth Shared Scholarship. • Usha Perera: Secured ESRC funding for PhD in Economics at Lancaster University, UK (Oct 2026). Holds MSc from University of Leeds via Commonwealth Shared Scholarship. • Chandula Idirisinghe: Awarded fully funded PhD scholarship in Management at University of Guelph, Canada (Sept 2026). • Himani Vithanage: Awarded Commonwealth Master's Scholarship for MSc in Economics for Development at University of Oxford, UK (Sept 2026). • Chaya Dissanayake: Won Commonwealth Shared Scholarship for MSc in Risk and Disaster Science at University College London (UCL), UK (Sept 2026). • Dinithi Athulathmudali: Won Commonwealth Master's Scholarship for MSc in Economics for Development at University of Oxford, UK (Sept 2026). • Core Focus Areas: • Research specializations cover critical national policy areas including health, education, and labour policy, agriculture & agribusiness, and disaster risk preparedness.

Read more →

Commercial Bank Secures World's First UNFPA CRJB Champion Status 📈

• Global Milestone: Commercial Bank of Ceylon became the first bank globally to achieve Champion Status by the United Nations Population Fund's (UNFPA) Coalition for Reproductive Justice in Business (CRJB), advancing gender equality and employee well-being in the banking & finance sector. • Workplace Benefits & Impact: • Nurtures workforce through health check-ups, dental/eye camps, and mental health care via Damrivi Foundation. • Offers progressive maternal benefits, including a monthly daycare allowance of Rs. 25,000 for up to 1 year, flexi-hours, adoptive maternity leave, and extended unpaid leave. • Achieved an over 90% post-maternity return-to-work rate among female employees, boosting talent retention. • Community & Institutional Footprint: • Drives island-wide CSR initiatives: women micro-entrepreneur medical camps, breast cancer awareness, and 'Adopt an Ambulance' partnership with 1990 Suwa Seriya. • Strengthens its 'Anagi' Women's Banking proposition by linking financial empowerment with broader health and inclusion. • Operates as Sri Lanka’s largest private sector lender, with market capitalisation exceeding US$ 1 Bn, 270+ local branches, and operations in Bangladesh, Maldives, Myanmar, and Dubai.

Read more →

🏆 Maliban Brings Iconic Scent Nationwide Following Top LMD Brand Ranking

Maliban, named the No. 1 Most Loved Product Brand in the LMD Readers' Choice Most Loved Brands 2026, launched a unique nationwide brand activation to mark its 70+ year legacy. • Nationwide Activation: Extended its iconic "Maliban Handiya" freshly baked biscuit aroma—previously localized to Ratmalana—to key public spaces across Sri Lanka, including bus stops, highway exits, and cinemas. • Interactive Experiential Marketing: Utilized liquid evaporisers in high-footfall regional hubs like Kandy alongside product sampling to create a complete sensory experience (scent, taste, and brand familiarity). • Corporate Insight: According to Positha Perera, Group Head of Corporate Communications at Maliban Group of Companies, the initiative aimed to leverage decades-old brand heritage and consumer trust by expanding a localized sensory asset into a shared national experience.

Read more →

🌱 Aitken Spence Logistics Named Sustainable Logistics Provider 2026

Aitken Spence Logistics has been honored as the "Sustainable Logistics Provider 2026" at the Sri Lanka Sustainability Awards 2026, organized by the Ceylon Institute of Builders (CIOB) in collaboration with the University of Moratuwa. • Award Recognition: Endorsed by four key Sri Lankan ministries (Housing & Construction, Energy, Environment, and Transport & Highways) for commitment to sustainable practices and ESG integration. • Green Operations: Key environmental initiatives include deploying new electric forklifts at container freight stations, investing in renewable energy solutions, and optimizing processes to lower waste and resource consumption. • Social Impact & Diversity: Advanced workforce inclusion via its Pink Warehouse initiative, which provides structured training and operational career opportunities for women in the traditionally male-dominated logistics & supply chain sector. • Corporate Governance: Maintains a 22+ year commitment to the UN Global Compact principles. As a subsidiary of the blue-chip conglomerate Aitken Spence PLC, the company operates across warehousing, 3PL, inland container terminals, and project cargo, advancing eco-friendly standards in Sri Lanka's transportation & logistics landscape.

Read more →

Brandix Wins Dual Honors at Sri Lankan Sustainability Awards 2026 📈

• Award Recognition: Apparel & textiles giant Brandix was named Overall Winner in two categories—Sustainable Construction & Built Environment and Sustainable Community & Social Development—at the Sri Lankan Sustainability Awards 2026. • Green Building Portfolio: Highlights LEED-certified facilities including Seeduwa (world’s first LEED Platinum apparel facility) and Batticaloa (LEED Platinum), along with Koggala and Rathmalana (LEED Gold). • Clean Energy & Smart Operations: • Rooftop solar capacity stands at 18.8 MW. • Renewable energy powered 37% of electricity needs in FY 2024/25. • Integrated Smart Factory digital dashboards, machine tracking, and predictive maintenance across plants like Rambukkana and Katunayake. • Water Stewardship: • Sustainable water sources (green/grey water) supplied 29% of the water mix in FY 2024/25. • Conversion of an unused treatment plant in Avissawella will add ~20 million litres in annual rainwater harvesting and treatment capacity.

Read more →

INSEE Lanka Wins Big at Sri Lankan Sustainability Awards 2026 📈

• Key Highlights: • INSEE Lanka secured top honours for the 2nd consecutive year at the Sri Lankan Sustainability Awards 2026 (held July 10–11 alongside CIOB's 14th World Construction Symposium). • Awarded Sustainable Organization of the Year for operational sustainability. • Sector & Product Wins: • Flagship brand INSEE Sanstha named Sustainable Cement Brand of the Year for the 2nd straight year. • Bagged 2 innovation awards: Sustainable Technology Provider (Mass Pouring Solution) and Sustainable Green Material Innovation (INSEE Micro Concrete). • Economic Context: • Supports Sri Lanka’s construction & infrastructure sector by driving eco-friendly building practices, resource optimization, and green material innovation.

Read more →

🏆 CA Sri Lanka Opens Applications for TAGS Awards 2026

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) has officially opened applications for the TAGS Awards 2026, marking 61 years of corporate reporting excellence in the country. Organised in partnership with Strategic Partner Colombo Stock Exchange (CSE), the awards champion Transparency, Accountability, Governance, and Sustainability. • Timeline & Eligibility: Applications are open until 31 August 2026 via tags.casrilanka.com or physical forms. Eligible entries include listed/non-listed corporates, conglomerates, multinationals, SMEs, NGOs, and Empower Board entities with audited financial statements (unmodified opinion). Winners will be awarded in December 2026 at Shangri-La Colombo. • Scope & Awards Structure: Honours will be presented across 36 sectors, alongside 6 special awards and 3 overall excellence recognitions. The theme, "Legacy of Excellence: Creating Value Beyond Reporting," encourages businesses to move beyond simple compliance toward long-term stakeholder value creation. • Key Enhancements: • Empower Board Sector Award for emerging industries, SMEs, and new entities. • SLFRS S1 & S2 Adoption Award recognizing sustainability reporting leadership. • Refined corporate governance awards separating banking & finance from other sectors. • Evaluation & Tech: Features a 3-tier evaluation involving ~300 Chartered Accountants, industry experts, and a local/international judging panel. Evaluation efficiency is boosted by an Azure-based TAGS marking platform and an enhanced AI-powered chatbot for assessors.

Read more →

🎓 Teen Academy Secures OBP UK Accreditation for Teen Business Program

• Partnership Overview: Colombo-based Teen Academy has secured formal accreditation from the UK-based Organisation of Business Professionals (OBP UK) for its Teen Master of Business program (ages 13–18). OBP UK serves as the exclusive awarding body, making Teen Academy the accredited delivery centre for Sri Lanka and the Maldives. • Program & Launch Details: Cohort 1 begins on 8 August 2026 at the Postgraduate Institute of Management (PIM), Colombo. The curriculum spans 12 modules running through January 2027. • Educational Impact: Marks the first UK-accredited teen business qualification in Sri Lanka, advancing youth business education and professional education. The curriculum moves beyond standard GCE O/L and A/L rote learning to foster critical thinking, agility, leadership, and entrepreneurship among young learners.

Read more →

📈 Sri Lanka’s Top 100 Brands Hit Record Rs. 652 Bn, Surpassing Pre-Crisis Peak

• Overall Figures: Combined brand value of Sri Lanka’s top 100 brands grew 17% YoY to a record Rs. 652 Bn, surpassing the 2019 pre-crisis peak of Rs. 630 Bn. The expansion reflects broader economic recovery (5% GDP growth in 2025) despite $ 4.1 Bn in damage from late-2025 Cyclone Ditwah. • Banking Sector: The banking sector anchors the national landscape, accounting for 42% (Rs. 275 Bn, +14% YoY) of total brand value and 6 of the top 10 positions: - Bank of Ceylon (BOC): Retains title as Sri Lanka’s #1 most valuable brand at Rs. 65.5 Bn. - Commercial Bank: Ranks #2 most valuable brand at Rs. 54.9 Bn (+18% YoY). - Sampath Bank: Reached Rs. 26 Bn (+5% YoY). - Nations Trust Bank: Soared 35% YoY to Rs. 9.9 Bn following its HSBC retail asset acquisition. • Telecom & Retail: - Dialog (telecommunications): Named Sri Lanka’s strongest brand (BSI 89.4/100, AAA) and #3 most valuable at Rs. 41.1 Bn (+16% YoY). - Keells (supermarket retail): Second-strongest brand overall (BSI 88.5/100, AAA) with brand value rising 16% YoY to Rs. 26.4 Bn. • Tech & Mobility: - PickMe: Homegrown digital mobility platform grew brand value 11% YoY to Rs. 4.8 Bn, leveraging AI demand forecasting and digital payment integration.

Read more →

🍹 Smoke & Bitters Makes History on Global & Regional Best Bar Lists

• Key Achievements & Rankings: - First and only Sri Lankan venue to feature on The World’s 50 Best Bars extended list, ranking at #67 in September 2025. - Awarded the prestigious Michter’s Art of Hospitality Award 2026 for Asia. - Ranked #14 on Asia’s 50 Best Bars 2025 list and named ‘Best Bar in Sri Lanka’ for four consecutive years. - Only Sri Lankan-owned bar included in top 100 global/regional annual rankings from 2022 through 2026. • Sector & National Context: - Significantly elevates Sri Lanka's global profile in tourism and hospitality by promoting local heritage. - Drives regional growth from a beachfront village in Dikwella, prioritizing local community engagement and employment. • Operational Highlights: - Founded in early 2020 by best friends Don Ranasinghe and Lahiru Perera. - Combines wood-fire cooked dishes with inventive cocktails made from locally sourced herbs, spices, wild bee honey, and Rockland arrack. - Expands global footprint as unofficial ambassadors through international bar takeovers in Mexico, Greece, Hong Kong, Italy, India, and Kazakhstan.

Read more →

Financial & Investment News

📈 M.A. Yaseen Invests Rs. 5 Bn in UML and RIL

• Investment Breakdown: Founder shareholder M.A. Yaseen invested Rs. 5 billion to increase stakes in United Motors Lanka PLC (UML) and R I L Property PLC (RIL) based on provisional data. • UML Acquisition: Paid Rs. 3 billion to acquire an 11.3% stake (114 million shares at Rs. 27 each) from R.R. Takahashi, raising his total holding in the automotive firm to 24%. UML share price closed at Rs. 27.10 (up Rs. 0.10). • RIL Acquisition: Invested Rs. 2 billion for a 10.6% stake (85 million shares at Rs. 24 each), crossing his personal holding to 41% in the real estate company. RIL share price closed at Rs. 25.90 (up Rs. 0.50).

Read more →

📈 SEC & CSE Launch 'A Share for Everyone, A Unit for Everyone' Initiative in Monaragala & Batticaloa

• Initiative & Outreach: The Colombo Stock Exchange (CSE) and Securities and Exchange Commission (SEC) launched the "A Share for Everyone, A Unit for Everyone" initiative to expand capital market participation and awareness beyond the Western Province. • Forum Participation: Regional forums held in Monaragala (July 16) and Batticaloa (July 18) attracted over 500 participants. The first 400 attendees opening accounts were eligible for SEC/CSE-sponsored investment coupons to support equity investments and unit trusts. • Market & Sector Coverage: Sessions featured macroeconomic insights from Central Bank economists, alongside introductory guidance on stockbroking and the unit trust industry from leading financial firms. • Capital Market Performance: The drive comes amid a 6-year rally in Sri Lanka's capital market, with the All-Share Price Index (ASPI) surging 360% from 4,846 points in May 2020 to 22,310.80 points by end-May 2026—representing a Compound Annual Growth Rate (CAGR) of ~28.98%.

Read more →

📈 Mercantile Investments Raises Rs. 1.1 Bn via Oversubscribed Rights Issue

• Financial Services & Capital: Mercantile Investments & Finance PLC (MI Finance) has successfully raised Rs. 1.1 billion in new capital through a fully oversubscribed Rights Issue. • Capital Base & Growth: The capital infusion significantly strengthens the company's regulatory capital position, enhances financial flexibility, and expands its capacity for future growth within Sri Lanka's financial services sector. • Management Perspective: Managing Director Gerard Ondaatjie noted that the strong shareholder response reflects firm confidence in the company's long-term vision and strategy to drive sustainable value. • Key Partners: First Capital Advisory Services Ltd. managed the issue, with SSP Corporate Services Ltd. acting as the registrar.

Read more →

Global & International Business [The World View From India with Dr. Raja Mohan](https://www.youtube.com/watch?v=7Vf9U7f9kKA) This video features Dr. C. Raja Mohan discussing India's evolving economic policy, regional relationships, and geopolitics in an increasingly fragmented global landscape.

India Catching Up to Sri Lanka on Per Capita Income, Says Prof. Raja Mohan 📈

• Key Income Comparison: Sri Lanka maintains a per capita income of US$ 5,000 compared to India's US$ 2,800, according to geopolitics expert Prof. C. Raja Mohan. • Economic Scale vs. Income: While Sri Lanka leads on individual income levels, India's sheer market size gives it greater overall economic weight and global impact. • Supply Chain Shift: As global supply chains fragment, regional cooperation becomes critical over traditional proximity, focusing on long-term costs, capital, and equity. • Priority Sectors: Cooperation in artificial intelligence and regional security offers major potential to build workforce resilience and leverage synergies between both nations.

Read more →

Politics & Government Impact [How India's Cockroach Party Sparked a Protest Movement](https://www.youtube.com/watch?v=C9MRKiKs06o) This video provides context on the origin of the Cockroach movement in India and examines its political impact and broader implications for youth activism across South Asia.

India’s Cockroach Movement: Key Governance & Youth Lessons for South Asia 📈

• Movement Context & Scale India’s youth-led Cockroach Movement evolved from public outrage over alleged paper leaks in the National Eligibility cum Entrance Test (NEET), taken by over 2 Mn students annually for 130,000 medical seats. Demonstrations pushed Union Education Minister Dharmendra Pradhan to resign, prompting the government to announce system-wide reforms. • Gen Z Mobilization & Digital Impact Spurred by India’s Gen Z population (over 500 Mn), the campaign shifted rapidly from digital social platforms to physical street protests in major cities. Highlights how digital connectivity lowers collective action barriers, forcing faster institutional responsiveness across South Asia. • Key Lessons for Regional Governance Meritocracy: Safeguarding fair competition in education is crucial for social mobility and preventing public discontent. Institutional Trust: Public credibility relies on execution; trust lost through examination irregularities is difficult to restore. Digital Democracy: Social media allows rapid public mobilization, making open government communication and listening vital to democratic legitimacy. • Relevance to Sri Lanka South Asia’s under-30 demographic makes up over 50% of its nearly 2 Bn population, forming the future workforce and consumer base. Sri Lanka’s educated youth share similar expectations for transparent public administration, education, and economic governance, emphasizing youth as partners in stability.

Read more →

Awards & Recognitions [National AI Awards 2026 Overview](https://www.youtube.com/watch?v=PaJr_GtaZLM) This video provides an official overview and call for applications for Sri Lanka's National AI Awards 2026.

🤖 Applications Open for National AI Awards 2026

• Event & Key Dates: Applications are open until 15 August 2026 for Sri Lanka’s flagship National AI Awards 2026, themed ‘AI Amplified’. The awards ceremony will take place on 4 October 2026 as the highlight of Sri Lanka AI Week. • Organisers & Mission: Pioneered by the Digital Economy Ministry of Sri Lanka alongside SLT-MOBITEL, the event aims to champion innovation, celebrate national benchmarks, and spotlight top achievements across industry, academia, startups, and the public sector. • Key Sector Innovations: The Industry Innovation Awards will recognise groundbreaking AI application across major national economic pillars, including: - Agriculture - Manufacturing and Industry 5.0 - Banking, Finance and Insurance - Education - Healthcare and Life Sciences - Media • Award Categories: Accolades encompass four primary streams: - National AI Trailblazer (Excellence, Leadership, Impact, Export Excellence) - Industry & Sector Excellence - Innovation & Future-Focused (Startups/MSMEs, University AI, Agentic AI, Sinhala/Tamil Localisation, Women in AI Leadership) - AI Content Creators of the Year (Educational, Video/Storytelling, Social Impact, FutureTech, Cultural Heritage & Tourism) This video provides an official overview and guidelines on how local innovators can submit their entries for the National AI Awards 2026 prior to the deadline. [National AI Awards 2026 Submission Guide](https://www.youtube.com/watch?v=PaJr_GtaZLM)

Read more →

Economic News [Sri Lanka's President presents Budget](https://www.youtube.com/watch?v=PjSywtCQlx0) This video is relevant because it reports on Sri Lanka's presidential budget announcements and the government's fiscal policy goals.

📈 Govt to Boost Development Spending in 2027 Budget

• Strategic Focus: President Anura Kumara Dissanayake announced plans to prioritize national development spending in the upcoming 2027 Budget. • Fiscal Adjustment: The strategy aims to cut recurrent expenditure to free up resources and significantly expand capital investment across key growth areas.

Read more →

Politics & Government Impact [Court of Appeal to consider Former President Gotabaya Rajapaksa's petition](https://www.youtube.com/watch?v=Qqe4yllGb38) This video provides news coverage regarding the Court of Appeal considering former President Gotabaya Rajapaksa's petition to block his arrest.

⚖️ Court Hearing Resumes on Ex-President’s Writ Petition

• Legal Proceedings Overview: Former President Gotabaya Rajapaksa appeared in person before the Court of Appeal to observe the ongoing hearing regarding his writ petition. The petition seeks a court order to prevent his potential arrest and detention. • Judicial Bench & Hearing Status: The case was taken up before a two-judge bench comprising Court of Appeal President Justice Rohantha Abeysooriya and Justice Sarath Dissanayake. The resumption follows a previous four-day consecutive hearing session that concluded on 9 July. • Current Status: The Court of Appeal is continuing to hear further legal submissions from the involved parties. Further directives remain pending as proceedings continue.

Read more →