Product & Service Launches / Business Expansions
View all(101)📈 LankaPay & Alipay+ Partner to Boost Tourism & Digital Payments
LankaPay, the Sri Lanka Tourism Development Authority (SLTDA), and Alipay+ have signed a strategic MoU to drive international arrivals and enhance the island’s digital payment ecosystem. • Strategic Focus: Targets high-value travelers from the Asia-Pacific (APAC) region by leveraging the Alipay+ network, which connects over 1.8 billion user accounts across 40+ international e-wallets and bank apps. • Tourism Earnings: International visitors using Alipay+ partner apps can now pay via LankaQR across Sri Lanka, accessing exclusive promotions designed to increase tourist spending and national foreign exchange earnings. • Digital Transformation: The initiative promotes the adoption of cross-border QR payments among SMEs and micro-merchants, integrating them into the global digital economy as part of Sri Lanka's broader financial sector digitalization. • Economic Impact: By simplifying transactions for ICT/BPM integrated payment systems and local businesses, the partnership aims to position Sri Lanka as a tech-forward destination while supporting long-term industry growth. Status: Based on official collaboration announcement (April 2026).
GWM Haval Jolion Hits 150-Unit Delivery Milestone in Sri Lanka 📈
Senok Trade Combine (Pvt) Ltd has announced the successful delivery of the 150th GWM Haval Jolion, marking a rapid growth phase for the brand within the local automotive assembly sector. • Sales Performance: 150 units delivered between October 2025 and February 2026. A forward order bank of over 100 units is already secured for Q2 2026. • Local Production: The model is completely assembled in Sri Lanka by Western Automobile Assembly (Private) Limited, adhering to global manufacturing standards to ensure quality and timely delivery. • Market Impact: Positioned as a leading contender in the SUV segment, the Jolion is driving growth through local value addition and industrial diversification, reducing reliance on direct imports. • Service & Support: Supported by Senok's islandwide after-sales network, ensuring availability of genuine parts and technical expertise for the growing owner base. This milestone reflects increasing consumer confidence in locally assembled vehicles and highlights the recovery and modernization of Sri Lanka's transport and mobility infrastructure.
NOLIMIT Expands Retail Footprint with 29th Store in Kiribathgoda 📈
• Strategic Expansion: Sri Lanka’s largest fashion retail chain, NOLIMIT, has opened its 29th outlet in Kiribathgoda, targeting the high-potential suburban corridor of the Gampaha district. • Facility Details: The new four-storey destination at Udeshi City Shopping Complex spans over 21,000 square feet, designed to serve a diverse demographic including families, young professionals, and students. • Product Portfolio: The store offers a comprehensive lifestyle range including menswear, womenswear, kids wear, homeware, and cosmetics, consolidating various retail segments under one roof. • Economic Context: The move signals continued confidence in the retail & consumer sector and suburban commercial potential. Established in 1992, the brand continues to scale its local presence alongside an international footprint in the UAE. • Key Focus: The expansion aligns with a long-term strategy to penetrate regional markets and enhance accessibility in "growth corridors" to drive national employment and retail excellence.
Ministry of Brands (MOB) Launches Sri Lanka's First Off-Price Retail Store 🛍️
The flagship 10,000 sq. ft. Ministry of Brands (MOB) store has officially opened in Colombo 4, backed by Akbar Brothers. This marks the entry of the globally successful "off-price" retail model into the Sri Lankan and South Asian markets. • Core Model: MOB offers authentic global luxury and premium brands at discounts of up to 90% off original retail prices. The model focuses on managing excess inventory from international fashion houses, providing a sustainable and affordable channel for premium goods. • Product Portfolio: Features over 2,000 international brands sourced from Europe and the US. Key categories include apparel & textiles (womenswear, menswear, childrenswear), footwear, accessories, and homeware. • Brand Highlights: The collection includes high-end labels such as Valentino, Salvatore Ferragamo, Burberry, and Ralph Lauren, alongside performance wear and lifestyle brands like Lacoste, Puma, and Air Jordan. • Strategic Expansion: Following the Colombo 4 launch, MOB is scheduled to open a second location at One Galle Face Mall in March 2026. • Economic Impact: This introduction diversifies the local retail sector, offering Sri Lankan consumers local access to global brands while positioning the country as a regional hub for the fast-growing off-price retail segment. 📈
NSB New Year Campaign Pairs Thrift with Environmental Sustainability 📈
State-owned National Savings Bank (NSB) has launched its 2026 Sinhala and Tamil New Year program, integrating traditional financial habits with national environmental goals. • Key Savings Initiatives: NSB branches will offer a Rs 10 coin to customers performing transactions during auspicious times. Post office and sub-post office depositors receive special rewards: a Rs 10 coin for deposits between Rs 100–Rs 999, and a Rs 100 note for deposits of Rs 1,000 and above. Distribution of the traditional Ayurvedic Lith (almanac) continues across all branches in Sinhala and Tamil. • Sustainability & Agro Forestry: Continuing its unique tradition, NSB will provide plant saplings to customers on April 15. The bank has designated April 23 at 9:01 a.m. as the auspicious time for the public to plant these saplings. The initiative is part of a broader Agro Forestry project aimed at community-led environmental conservation and sustainable agriculture. • Strategic Focus: The 1972-established institution aims to strengthen the national savings culture while addressing modern environmental challenges. The campaign underscores a dual commitment: securing financial futures and ensuring long-term ecological stability for Sri Lanka.
HNB Assurance Rebrands to 'HNB Life' Marking 25th Anniversary 📈
HNB Assurance PLC has officially transitioned to its new corporate identity, HNB Life PLC, signaling a strategic evolution after 25 years of operations in the Sri Lankan insurance sector. • Strategic Transformation: The rebranding follows a period of strong financial performance and market share growth over the past five years. The move aims to reposition the firm as an agile, digitally-enabled life insurance provider. • Core Vision: The transition focuses on "demystifying insurance" and increasing accessibility across the nation. The new identity is designed to align with evolving customer needs and the broader financial services landscape. • Sector Impact: As a subsidiary of Hatton National Bank PLC (HNB), the evolution into HNB Life emphasizes a shift toward proactive protection and financial empowerment, leveraging its parent company’s extensive banking network and broker partnerships. • Operational Focus: Management highlighted that the next phase of growth will prioritize customer-centric capabilities and digital transformation to maintain relevance in a competitive financial services market. _Note: Summary based on official corporate announcement on April 10, 2026._
📈 Huawei IP Summit 2026: AI & 5G Reshaping SL Enterprise Networks
Huawei’s Intelligent IP Summit 2026 in Sri Lanka highlighted the shift toward AI-driven data communication (datacom) as the foundation for national digital transformation. The event focused on integrating ICT/BPM advancements with 5G to support critical sectors. • Core Sectors: Key focus on banking and finance, government, education, manufacturing, and real estate. • Technological Pivot: Emphasis on moving beyond simple connectivity to "intelligent" architectures capable of handling AI workloads and cloud computing. • Product Launches: • AirEngine 8771-X1T: A Pre-Wi-Fi 8 access point designed for high-speed, production-grade wireless. • NetEngine AR 5G: A secure router for seamless 5G integration into enterprise grids. • CloudEngine switches: Dual-plane architecture ensuring zero downtime for mission-critical infrastructure. National Impact: The convergence of AI and 5G is positioned as a decisive factor for Sri Lanka’s economic resilience and service delivery. Industry experts noted that while 5G provides speed, robust datacom infrastructure is the essential "bridge" for real-world applications in digital banking and e-government.
📦 LAUGFS Gas Ramps Up Supply to 30,000 Cylinders Daily for Festive Season
Following the resumption of operations at its Hambantota (HBT) and Mabima filling plants, LAUGFS Gas PLC has accelerated island-wide distribution to stabilize market availability. • Current Supply Volume: Approximately 30,000 LPG cylinders are being released daily into the market. • Operational Focus: Both primary facilities are working in tandem to address heightened demand during the upcoming festive period. • Sector Impact: The supply boost is targeted at domestic households, the hospitality sector (hotels and restaurants), and industrial users, which are critical for economic activity during holiday peaks. • Future Outlook: The company has committed to an uninterrupted supply through a stabilization plan involving continuous shipments and ongoing plant operations. _Data based on company announcements as of April 8, 2026._
Abans Finance Partners with Singhagiri for FINAB Smart Device Financing 📱
Abans Finance PLC has launched its smart device financing solution, FINAB, in collaboration with Singhagiri (Pvt) Limited to enhance digital accessibility across Sri Lanka. • Core Offering: Customers can now purchase smartphones and digital devices via flexible installment plans at Singhagiri showrooms islandwide. • Key Features: The service prioritizes fast approvals, minimal documentation, and customer-friendly repayment options to simplify device ownership. • Economic Impact: By targeting the ICT/BPM and digital lifestyle sectors, the partnership supports national digital inclusion, facilitating connectivity for education and business. • Strategic Reach: Combines Singhagiri’s extensive retail network with Abans Finance PLC’s specialized financial services to drive consumer tech adoption. 📈
Colombo Dockyard Inks Major Maintenance Deal with Dredging Corporation of India 📈
Overall Agreement: Colombo Dockyard PLC (CDPLC) signed a landmark Memorandum of Understanding (MoU) with the Dredging Corporation of India (DCI) to provide comprehensive dry docking, repairs, and upgrades for DCI’s fleet of dredgers. Strategic Context: This deal follows the recent acquisition of a 51% controlling stake in Colombo Dockyard by India’s Mazagon Dock Shipbuilders Ltd. The move is a direct result of a strategy to increase Indian-linked business volumes in Sri Lanka. Sector Impact: The partnership positions Sri Lanka’s shipbuilding and repair sector as a preferred regional hub for Indian maritime operations. It focuses on enhancing fleet availability and turnaround efficiency for critical dredging infrastructure. Regional Cooperation: Facilitated with support from the Indian High Commission, the agreement reinforces maritime integration between India and Sri Lanka, focusing on long-term capacity building and engineering excellence in the Indian Ocean. Operations: DCI serves major ports and the Indian Navy; the MoU ensures CDPLC will handle a significant portion of DCI's expanding fleet maintenance, contributing to Sri Lanka’s foreign exchange earnings and technical service exports.
📈 Uber Eats Expands Delivery Services to Nuwara Eliya
Uber Eats has officially launched operations in Nuwara Eliya, targeting the surge in local and international tourism during the April holiday season. This expansion addresses a specific market gap in the region, where dining options traditionally close early despite high evening demand. • Key Strategic Features: Service Extension: Provides late-night food access in a region where outlets typically close early. Logistics Adaptation: Introduction of temperature-controlled insulated bags specifically for Nuwara Eliya’s cold climate to ensure food quality. Cuisine Variety: Offers a mix of local favorites (Kottu, Hoppers) and global brands like KFC, Pizza Hut, and Domino’s. • Economic Impact: Local Business Support: Enables local restaurants to scale reach and increase order volume via digital storefronts. Employment: Creates flexible earning opportunities for delivery partners within the central highlands. • Market Context: This move follows an aggressive expansion strategy across Sri Lanka, building on recent entries into 12 other regions including Jaffna, Matara, Anuradhapura, and Hikkaduwa. The expansion strengthens Uber Eats' footprint in the hospitality and tech-enabled services sector, critical for supporting the country's seasonal tourism economy.
🚗 Hayleys Mobility Launches Kaiyi Flagship Store in Colombo
Hayleys Mobility (a subsidiary of Hayleys Fentons) has officially inaugurated its flagship showroom in Colombo 10, marking a significant step in the expansion of Sri Lanka's electric vehicle (EV) infrastructure and retail landscape. • New Retail Hub: Located at Arnold Ratnayake Mawatha, the facility integrates vehicle exploration, test drives, and aftersales care into a single destination, aiming to streamline the automotive customer journey. • Key Product Launch: The store features the Kaiyi eVibe E04, a fully electric subcompact hatchback designed for urban commuting. • Range: 300 km (CLTC-certified). • Charging: Fast-charging capability reaching 80% in 30 minutes. • Technology: Equipped with 360-degree cameras and smartphone integration. • Future Expansion: Hayleys Mobility confirmed the upcoming introduction of the Kaiyi X3 Pro EV, further diversifying their renewable energy mobility portfolio to target broader consumer segments. • Strategic Alignment: The move reinforces the group's focus on sustainable transport and ICT-integrated vehicle solutions, leveraging a nearby dedicated service center to ensure long-term ownership support. 📈