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Politics & Government Impact

Sajith Urges Govt. to Prevent Relief Disruptions Amid Cyclone Recovery ⛈️

Opposition Leader Sajith Premadasa has called for immediate government intervention to ensure internal administrative disputes do not stall relief efforts for victims of Cyclone Ditwah. The appeal follows a breakdown in coordination as the recovery process enters a critical phase. • Current Crisis: Disaster relief officers and Grama Niladharis (village-level officials) have launched trade union action, withdrawing from relief duties as of yesterday. • Officer Grievances: Unions allege that despite working continuously for over 93 days since the cyclone’s devastation, the Government has failed to address unresolved operational and administrative issues. • Political Stance: Premadasa emphasized that the welfare of affected families is "far too important" to be hindered by "confusion or lack of coordination" between the state and ground-level officers. • Government Response: Presidential Secretary Dr. Nandika Sanath Kumanayake has ordered an acceleration of recovery measures, chairing a National Council for Disaster Management meeting to bridge gaps between state institutions. The disruption threatens the delivery of essential support to communities still awaiting assistance following one of the most significant weather events in recent months.

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Politics & Government Impact

(59)

Sajith Urges Govt. to Prevent Relief Disruptions Amid Cyclone Recovery ⛈️

Opposition Leader Sajith Premadasa has called for immediate government intervention to ensure internal administrative disputes do not stall relief efforts for victims of Cyclone Ditwah. The appeal follows a breakdown in coordination as the recovery process enters a critical phase. • Current Crisis: Disaster relief officers and Grama Niladharis (village-level officials) have launched trade union action, withdrawing from relief duties as of yesterday. • Officer Grievances: Unions allege that despite working continuously for over 93 days since the cyclone’s devastation, the Government has failed to address unresolved operational and administrative issues. • Political Stance: Premadasa emphasized that the welfare of affected families is "far too important" to be hindered by "confusion or lack of coordination" between the state and ground-level officers. • Government Response: Presidential Secretary Dr. Nandika Sanath Kumanayake has ordered an acceleration of recovery measures, chairing a National Council for Disaster Management meeting to bridge gaps between state institutions. The disruption threatens the delivery of essential support to communities still awaiting assistance following one of the most significant weather events in recent months.

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🇪🇺 EU Boosts Cyclone Relief with Additional €1 Million 📈

The European Union has allocated an additional €1 million (approx. Rs 370 million) to address the lingering humanitarian impact of Tropical Cyclone Ditwah in Sri Lanka. • Total Assistance: This latest injection brings the total emergency humanitarian funding to €3.35 million, supplemented by technical expertise and in-kind aid from France, Germany, Italy, and Luxembourg. • Impact Context: The funding targets recovery from the November 2025 cyclone which triggered floods and landslides across all 25 districts, severely damaging infrastructure, housing, and livelihoods. • Implementation: Funds will be channeled through humanitarian partner organizations to restore basic services and support ongoing relief operations for affected communities. • Economic Resilience: These efforts are critical for stabilizing local economies and ensuring the recovery of the agricultural and informal labor sectors in high-impact regions.

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🏠 Cabinet Greenlights National Housing Operational Committee to Tackle Homelessness

The Cabinet of Ministers has approved the formation of a National Housing Operational Committee to streamline fragmented housing initiatives and address significant homelessness identified in the 2024 Census. • Financial Allocation: A substantial Rs. 100 billion has been earmarked for the construction of new houses in 2026. • Strategic Objective: The committee will unify efforts across multiple Ministries, provincial councils, and the private sector to move away from the current dispersed approach and implement a cohesive national program. • Target Demographics: Focus remains on vulnerable segments, including low-income earners, estate communities, fishing communities, and the urban homeless. • Operational Scope: The body will provide technical guidance and monitor projects based on economic productivity, social cohesion, and environmental protection. 📈 This move aims to optimize resource allocation and ensure housing projects meet national development goals more efficiently.

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Prof. Susiripala Manawadu Appointed Southern Province Governor 🏛️

President Anura Kumara Dissanayake has officially appointed Prof. Susiripala Manawadu as the new Governor of the Southern Province, effective from 24 February 2026. • Legal Framework: The appointment was made under Article 154B of the Constitution, marking a key administrative leadership transition for the region. • Professional Background: • Currently serves as Vice Chairman of the State Advisory Sub-Committee on Radio, Newspapers and Social Media for the Arts Council of Sri Lanka. • Previously held the position of Head of the Department of Sinhala at the University of Ruhuna. • Served as Senior Assistant Librarian at the University of Ruhuna. • Significance: The appointment brings an academic and administrative background to the provincial leadership, likely impacting regional governance and education sector coordination within the Southern Province.

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National Reconciliation: Strategic Framework for Disciplined Pluralism 📈

• Overall Strategy The report outlines a transition from reactive coexistence to resilient cohesion through structured pluralism. It emphasizes that managing diversity, rather than enforcing uniformity, is a national security necessity to prevent radicalization and institutional fragility. • Security & Governance Pillars Institutional Design: Proposes district-level interfaith councils, early-warning mechanisms for hate speech, and structured engagement between religious leaders and security institutions. Calibrated Accountability: Advocates for "proportional justice" to build state legitimacy. Key focus areas include strengthening independent oversight in counter-terrorism and ensuring due process to avoid collective suspicion. Digital Governance: Addresses algorithmic fragmentation through rapid-response fact-checking and cross-platform monitoring of extremist content. • Social & Civic Incentives Civic Rewards: Recommends national awards and recognition frameworks for interfaith collaboration and community reconciliation initiatives to balance punitive measures. Education: Integration of digital literacy and intra-faith reform to reduce ideological distortion and narratives of supremacy. • Economic & National Context Based on the reflection, Sri Lanka’s economic recovery and long-term stability are fundamentally linked to a robust social fabric. Without institutionalized reconciliation, national progress remains "brittle" against polarization and external ideological currents. _Data based on policy analysis and national reconciliation framework._

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Ministry Highlights Record Earnings & Strategic Digital Shift 📈

The Ministry of Foreign Affairs, Foreign Employment & Tourism hosted a media reception on February 20, 2026, outlining key economic achievements and future digital reforms under the "A Thriving Nation – A Beautiful Life" policy framework. • Economic Performance (2025): The Minister reported a combined revenue of approx. US$ 11 Bn from key sectors: Tourism: Recorded 2.36 million arrivals, generating US$ 3.2 Bn. Foreign Employment: Migrant worker remittances exceeded US$ 7.8 Bn. • Key National Initiatives: The government emphasized the importance of Sri Lanka Expo 2026, positioned as a flagship platform to drive global trade, investment, and innovation. • Digital Transformation: The Ministry is transitioning to an AI-enabled communication framework and a unified digital platform. This initiative aims to link all Sri Lanka Missions abroad to enhance public diplomacy and service delivery through increased transparency. • Strategic Outlook: Officials underscored the role of responsible media in strengthening Sri Lanka's international image and supporting national growth via accurate reporting on diplomatic and economic reforms.

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Cabinet Approves Bill to Amend Social Security Levy 📈

• Key Update: The Cabinet has cleared a draft Bill to amend the Social Security Contribution Levy (SSCL) Act, No. 25 of 2022. The legislation aligns with the 2026 Budget proposals to modernize the tax framework. • Tax Base Expansion: While specific rate changes were not confirmed by the Cabinet Spokesman, the 2026 Budget previously proposed reducing the registration threshold from Rs. 60 Mn to Rs. 36 Mn annual turnover (effective April 1, 2026), likely bringing more SMEs into the tax net. • Sector Impact: • Automotive: Proposed shifting of SSCL collection to the point of import or manufacture, exempting subsequent resale. • Agri-Commodities: Coconut oil and palm oil imports are expected to move from the Special Commodity Levy to the standard SSCL/VAT structure. • Manufacturing: Continued focus on leveling the playing field for local producers against imported goods like textiles. • Status: The Bill has received Attorney General clearance and will be gazetted before being presented to Parliament for final approval.

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CMC Corruption Probe: Public Complaints Deadline Extended 📈

The Presidential Commission of Inquiry (PCoI) investigating alleged corruption within the Colombo Municipal Council (CMC) has extended the deadline for public submissions to 16 March 2026. • Investigation Scope: Probing fraud, misuse of power, and procurement violations spanning a 15-year period from 2010 to 2025. • Key Focus Areas: Investigations include unlawful recruitments, irregularities in property leasing, and serious losses to state revenue or assets. • Submission Details: • Written complaints accepted in Sinhala, Tamil, or English. • Address: No. 152, Galle Road, Colombo 03. • Required: Name, address, contact number, and NIC/Passport number. • _Note_: Anonymous submissions are permitted upon explicit request. • Oral Submissions: Appointments must be secured by 16 March 2026 via 011 2 301 735. The commission aims to identify individuals responsible for financial irregularities that have historically impacted local government efficiency and infrastructure development in the capital.

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⚖️ Daisy Forrest Released from Money Laundering Case The Colombo High Court has ordered the release of Daisy Forrest, grandmother of Yoshitha Rajapaksa, from the long-standing case filed under the Prevention of Money Laundering Act.

• Court Decision: High Court Judge Udesh Ranatunga issued the order after reviewing a special psychiatric report from the Colombo Judicial Medical Officer. • Medical Grounds: A panel of specialist doctors certified that the 98-year-old accused is not in a suitable mental condition to stand trial. • Remaining Accused: While Forrest has been discharged, the Attorney General’s Department confirmed that proceedings will continue against the first accused, Yoshitha Rajapaksa. • Case Background: The legal action involves allegations of laundering approximately Rs. 59 million (with some reports citing up to Rs. 73 million) through three private bank accounts. • Legal Procedure: The prosecution will file an amended indictment to proceed with the trial solely against Rajapaksa. Based on official court submissions as of February 25, 2026.

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📈 Sri Lanka Economic Summary: The Reality of 2026

The "new era" of governance faces a transition from campaign rhetoric to "structural compliance." Despite promises of radical change, the National People's Power (NPP) administration has largely maintained established macroeconomic frameworks to ensure stability. • Overall Fiscal Figures GDP Growth: Projected at 3.1% for 2026, following a recovery phase. Budget 2026: Targets total revenue of Rs. 5,300 Bn against an expenditure of Rs. 7,057 Bn. Primary Balance: A surplus goal of 2.3% of GDP is maintained to meet IMF debt sustainability targets. Public Debt: Projected to decline to 96.8% of GDP by year-end, down from 114.2% in 2022. • Sector & Policy Breakdowns Energy: Despite pledges to slash tariffs by 30%, electricity rates remain tied to global oil prices and a depreciating Rupee; CEB is managing a Rs. 22.7 Bn revenue requirement for Q1 2026. Taxation: VAT and SSCL registration thresholds will be lowered from Rs. 60 Mn to Rs. 36 Mn annually, effective April 1, 2026, to broaden the tax base. Apparel & Manufacturing: Sector faces pressure from global tariff volatility and the requirement to reapply for EU GSP+ benefits in 2026. Accountability: Anti-corruption efforts have shifted toward "performative accountability" with high-profile arrests, but have yet to recover significant "stolen assets" to plug the budget deficit. • Top Challenges External Shocks: Recovery was hampered by Cyclone Ditwah, causing an estimated US$ 4.1 Bn in damage. Debt Servicing: Sri Lanka continues to service foreign debt, with full repayments scheduled to resume in 2028.

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Trump Proposes Replacing Income Tax with Tariffs in 2026 Address 📈

U.S. President Donald Trump, in his 2026 State of the Union address, doubled down on a protectionist agenda, claiming tariffs will eventually replace the modern income tax system to "take the burden off Americans." • New 15% Global Tariff: Following a Supreme Court ruling that struck down previous emergency duties, a new 15% import surcharge has been signed under Section 122 of the Trade Act. This "temporary" measure (valid for 150 days) takes effect almost immediately. • Impact on Sri Lanka: The U.S. remains Sri Lanka's largest export market (US$ 2.8–3.0 Bn annually). While the new 15% rate is lower than the 20%–44% levels negotiated or threatened in 2025, it still disrupts stable market access for local exporters. • Apparel & Textiles: This sector is most vulnerable, accounting for nearly 40% of Sri Lanka's U.S. exports. Industry experts warn that even a 15% duty keeps local garments more expensive than regional rivals like Vietnam or Indonesia, risking a volume drop of 10%–15%. • Key Sectors at Risk: • Rubber: Previously projected to see a 40%+ export decline under high-tariff scenarios. • Tea & Coconut: Facing increased pricing pressure in a critical hard-currency market. • Economic Outlook: Based on provisional 2026 data, the U.S. trade-weighted effective tariff rate remains at historic highs. Sri Lankan officials continue to lobby for reciprocal "deals" to avoid long-term diversions of orders to competing hubs.

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New Envoys from Cuba, Qatar, and Slovenia Present Credentials 🤝

Ambassadors-designate from Cuba, Qatar, and Slovenia formally presented their Letters of Credence to President Anura Kumara Dissanayake at the Presidential Secretariat on February 24, 2026. • Diplomatic Appointments: Cuba: Ambassador Patricia Lázara Pego Guerra (Resident in Colombo). Qatar: Ambassador Hamad Mohammed Abdullah Al-Sanad Al-Dosari (Resident in Colombo). Slovenia: Ambassador Tomaž Mencin (Resident in New Delhi). • Strategic Context: The formalization of these ties facilitates continued cooperation in key sectors, including Foreign Employment, Tourism, and trade. Both the Minister of Foreign Affairs, Foreign Employment and Tourism, Vijitha Herath, and the Secretary to the President, Dr. Nandika Sanath Kumanayake, were present. Following the ceremony, discussions were held on strengthening bilateral relations between Sri Lanka and the respective nations. (Based on provisional reporting from the Presidential Secretariat) 📈 ---

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Real Estate

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National Program Launches to Grant "Himikam" Freehold Title Deeds 📈

President Anura Kumara Dissanayake has officially inaugurated the national "Himikam" program to transition state-held land permits into absolute freehold ownership, aiming to modernize Sri Lanka’s land administration and economic productivity. • Strategic Shift: The initiative replaces restrictive permits under the 1935 Ordinance with freehold deeds under the State Lands Ordinance No. 8 of 1947. This allows citizens to utilize land as flexible economic units without previous legal constraints. • Implementation: • The program began in the Anuradhapura District with the initial distribution of 500 title deeds. • It will be implemented island-wide for permits voluntarily surrendered to the State. • Focus remains on balancing land release with national food security and agriculture requirements. • Economic Vision: The government aims to move away from "outdated inherited economies" by providing land access for industries built on modern technology and scientific advancement. • Key Objectives: • Remove political motives from land distribution. • Empower the farming community and general public with collateralizable assets. • Systematic allocation of land to attract contemporary global economic strategies.

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📈 Home Lands Unveils Landmark US$ 300 Mn Luxury Project at Port City Colombo

Sri Lanka’s real estate leader, Home Lands Group, has announced a strategic entry into Port City Colombo with a massive independent investment, reinforcing local developer confidence in the Special Economic Zone (SEZ). • Key Financials: The group secured a 3-acre mixed-use land parcel for US$ 40.1 Mn (approx. LKR 12.5 Bn). This marks one of the largest single-developer investments by a Sri Lankan firm in the project without foreign partners. • Project Highlights: Planned US$ 300 Mn mixed-use development featuring twin 40-storey towers. The "vertical sanctuary" will offer over 600 ultra-luxury units inspired by a forest resort concept. • Strategic Location: Situated in the Central Park District, the development commands 40 acres of parkland, seamless waterway connectivity, and direct oceanfront access with beach entry. • Economic Impact: As the first Sri Lankan-led independent project of this scale in the SEZ, it signals a major boost for the construction and urban development sectors, enhancing the scope for high-value service exports and foreign investment. • National Context: Chairman Nalin Herath emphasized that the move reflects the financial strength of homegrown real estate players to deliver global-scale projects, positioning Colombo as a competitive regional lifestyle hub. 🏙️ Based on project announcement data (February 2026).

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Colombo Land Values Surge 10.6% in H2 2025 📈

The Central Bank of Sri Lanka (CBSL) reports that the Land Valuation Indicator (LVI) for the Colombo District reached 261.9 in the second half of 2025, maintaining a steady upward trajectory since 2023. • Overall Growth: The LVI increased by 10.6% YoY and 2.1% on a semi-annual basis compared to H1 2025. • Sector Breakdowns: • Residential: Recorded the highest growth, up 12.4% YoY (Index: 273.1). • Commercial: Increased by 11.3% YoY (Index: 260.6). • Industrial: Showed a more moderate rise of 8.0% YoY (Index: 251.9). • Context: The valuation, based on 2017 prices (H1 2017 = 100), covers all 13 Divisional Secretariat divisions in Colombo. The broad-based gains across real estate and infrastructure sectors reflect continued demand in the capital's land market. _Source: CBSL Statistics Department (Provisional Data)_

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Prime Lands Secures Historic Colombo 7 Property for ‘The Elizabeth’ Tower 📈

Prime Lands Residencies PLC has finalized an agreement with the Urban Development Authority (UDA) to acquire the historic Otters Club car park property. This marks a major expansion in the real estate & construction sector, targeting high-end residential demand in Colombo 7. • Strategic Acquisition: The development is set on a rare ~1-acre land parcel in a premium residential enclave. • Project Scale: Features a 23-storey residential tower titled ‘The Elizabeth’, designed as a “private residential estate in the sky.” • Unique Integration: The historic Otters Club will be integrated within the 4th and 5th floors, remaining fully independent and operational. • Luxury Amenities: Includes a grand concierge lobby, business lounge, rooftop infinity pool, sky garden, and a fitness pavilion. This project follows the success of The Grand - Ward Place, reinforcing Prime’s footprint in the luxury housing market. Early reservations are now officially open to investors and homeowners.

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📈 Prime & Melwa Secure US$ 57.6 Mn Marina Land at Port City Colombo

Sri Lankan conglomerates Prime Group and Melwa have entered a joint venture to acquire a 4-acre premium waterfront land parcel within Port City Colombo. The project, managed by Prime Melwa Port City (Pvt) Ltd, marks a significant milestone for local investment in the Special Economic Zone (SEZ). • Project Scope & Financials: The acquisition is valued at US$ 57.6 Mn. The partners plan to develop a mega ultra-luxury apartment complex with an estimated total turnover of US$ 250 Mn. Construction is slated for completion within four years. • Strategic Value: The development targets international investors, expatriates, and business travelers. Being located within the SEZ, transactions are denominated in USD, providing investors with a hedge against LKR currency depreciation and reducing long-term financial risks. • Sector Impact: This move strengthens the real estate and construction sectors' international presence. It represents the lease of the 7th out of 8 available parcels in the Marina District, reflecting a 90% land uptake in the precinct. • Economic Significance: The venture underscores local investor confidence in Port City as a global business and lifestyle destination, aimed at positioning Sri Lanka as a competitive hub in South Asia's luxury property market. Based on official project announcement data. ---

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### 🏛️ Parliament Reworks Electoral System & Formalizes Real Estate Standards

The Speaker of Parliament, Dr. Jagath Wickramaratne, has announced the formation of a Parliamentary Select Committee (PSC) to reform the electoral system for future Provincial Council elections. Separately, new legislation to regulate the real estate sector has officially come into force. Key Legislative Developments: • Electoral Reform PSC: Chaired by Minister Vijitha Herath, this committee is tasked with evaluating the current framework and recommending a suitable electoral formula (reforming or replacing the existing mixed system) to resolve long-standing delays in provincial polls. • Real Estate Act: The Sri Lanka Institute of Real Estate Professionals Act, No. 6 of 2026 was certified on February 19, 2026. This establishes a professional body to maintain ethical standards, discipline, and public interest in the real estate industry. Sector Breakdown & Implications: • Governance: The PSC includes a diverse 12-member multi-party panel, including members like R. M. Ranjith Maddumabandara and Mano Ganeshan, aimed at building national consensus on governance. • Professional Services: The new real estate act aims to formalize the sector, ensuring that professionals adhere to a statutory code of conduct, which is critical for investor confidence and national economic stability. _Note: Summary based on parliamentary announcements as of February 21, 2026._

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Kristall Spaces Lanka: Shifting Real Estate Focus to Long-Term Yields 📈

Kristall Spaces Lanka, the developer of the All-Suite Resort Talpe Heights in Galle, is introducing a vertically integrated model that moves beyond traditional property handovers to emphasize long-term asset management and investor returns. • Project Overview: The development features 56 luxury residences on Dalawella Beach, targeting the growing demand for high-end serviced residences driven by a 16.7% YoY increase in tourism arrivals. • Yield & Returns: The model aims for a consistent 8–11% annual rental yield, with total combined returns (including capital appreciation) projected at 13–20% per annum. Initial rental projections conservatively estimate 120 days of occupancy in Year 1. • Strategic Partnership: Through its associate, All-Suite Resorts Lanka, the developer provides a 10-year management commitment. This partnership utilizes dynamic yield management software and global marketing networks to optimize occupancy and pricing. • Asset Protection: Professional facility management is central to the model, addressing the "performance gap" in the condominium sector. Continuous maintenance aims to support a projected 5–10% annual capital appreciation by protecting structural integrity in harsh coastal environments. • Economic Context: CEO Simon Atterbury highlighted a 10-year strategy to develop a pipeline of 5,000 beds, aligning with national goals to expand tourism capacity while offering "turnkey" investments for local and international buyers.

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📈 Groundworth Launches "The Estate" in Hokandara

Groundworth Ltd. has officially launched “The Estate”, a premium land and luxury housing development located 700m from Vidyalaya Junction, Hokandara. The project follows the company’s recent "Special Recognition for Land Investments" at the PropertyGuru Asia Property Awards 2025. • Project Scope: Features land plots of 6 perches and above, alongside five elegantly designed luxury houses. The site includes carpeted internal roads, electricity, and pipe-borne water with fully approved deeds. • Investment Figures: Land prices start from Rs. 11.5 million. Based on provisional company data, the project offers a projected Return on Investment (ROI) of 37.5% within a two-year period. • Strategic Location: The development targets real estate growth in the Colombo suburbs, offering proximity to key hubs including Thalawathugoda, Battaramulla, and major expressway interchanges. • Economic Impact: Groundworth aims to set new benchmarks in the construction & real estate sector by focusing on high-growth, strategically located assets that serve as a "foundation of prosperity" for families and investors.

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📈 Fairway Latitude Partners with Pan Asia Bank for Luxury Housing Finance

• Overall Partnership: Fairway Properties has signed an MoU with Pan Asia Banking Corporation PLC to provide tailored home financing for its seventh luxury project, Fairway Latitude, located in Colombo 05. • Financing Framework: Prospective buyers can access flexible housing loans through tripartite agreements. The partnership offers competitive interest rates and streamlined, transparent purchasing processes to enhance accessibility to the real estate sector. • Project Progress: Construction of Fairway Latitude is actively underway with six floors already completed. The development is scheduled for full completion by 2028, featuring two to four-bedroom units ranging from 902 to 2,881 sq. ft. • Sector Impact: This collaboration supports the construction and real estate industries by integrating financial services with urban development. Fairway Holdings has already delivered over 1,000 apartments across six previous projects, including Fairway SkyGardens and Fairway Elements. • Developer & Bank Profile: • Fairway Holdings: A leading developer known for contemporary design and sustainable vertical living. • Pan Asia Bank: A licensed commercial bank focusing on customer-centric solutions, including SME and housing loans.

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📈 Real Estate: Prime Lands Achieves Key Milestone in Colombo Border Project

Prime Lands Residencies PLC (CSE: PLR) has reached a significant construction milestone with the topping out of Tower Cosmos, part of its flagship "The Colombo Border" development in Peliyagoda. The project, delivered ahead of schedule, underscores a recovery in the construction and real estate sectors. • Project Specifics: • Tower Cosmos: 20-story superstructure completed; features 152 two-bedroom apartments. • Sales Status: 100% sold out, reflecting high investor demand for urban living. • Completion Timeline: On track for final delivery by December 2027. • Scale: The broader development spans 6.5 acres along the Colombo-Kandy Road, integrating three residential towers (Brielle, Cosmos, and Amaá). • Financial & Sector Impact: • Growth: PLR reported a 43% YoY revenue increase to LKR 2.80 Bn in Q3 FY2025/26, driven by accelerated progress at this site. • Efficiency: The topping out was achieved four months ahead of schedule, highlighting the group's integrated project delivery. • Economic Context: This progress aligns with a 10.5% expansion in the national construction sector (provisional 2025 data), as the industry rebounds with improved financing conditions. • Strategic Partnerships: The project utilizes a mix of in-house expertise via Prime Construction and strategic collaboration with Sanken Construction Ltd for Tower Brielle, ensuring technical rigor and structural resilience.

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Colombo Ranks Among Asia’s Lowest-Cost Construction Markets 📈

Sri Lanka’s construction sector has entered a stabilization phase, with Colombo maintaining a highly competitive cost position in the Asian region according to the 2025 CIOB Report. • Regional Competitiveness Colombo recorded the lowest construction costs in 5 out of 6 analyzed categories, including high-rise apartments, prestige offices, and hotels. It ranks as the 2nd lowest-cost city in Asia for aggregate construction costs per m². • Material Price Trends (YoY) Key inputs saw significant reductions, aiding overall stabilization: • Reinforcement Steel: -21% • Fuel: -10% • Concrete: -1% • Cement: +3% • Currency & Inflation Impact While costs rose only 13% in USD terms from 2020–2025, they surged 81% in LKR terms due to currency depreciation. In 2025, the LKR remained stable against the USD within a 1% margin. • Labour & Sector Growth • Labour costs rose 5% in 2025, driven by skilled migration and statutory wage hikes. • The construction sector grew 12.2% in Q3 2025, contributing Rs. 499.9 Bn in Gross Value Added. • Outlook Despite upward pressure on labour and financing, the real estate and infrastructure sectors retain a regional advantage. CIOB highlights the need for joint ventures and new technology to address capacity and capital issues. _Source: CIOB Construction Cost Report 2025 (Provisional)_

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## Cabinet Approves Long-Term Leases for BOI Projects in Kerawalapitiya 📈

The Cabinet of Ministers has authorized 30-year leases for two major industrial and logistics ventures on reclaimed land in Kerawalapitiya, Wattala, aimed at boosting manufacturing and supply chain infrastructure. • Industrial Manufacturing Project: Powertech Products Ltd (backed by DHT Cement Ltd) will invest US$ 7 million to establish a factory for fibre cement roofing and flat sheets. The project targets both domestic and export markets. • Financials: One-time lease payment of Rs. 272.20 million plus an annual nominal rent of Rs. 83,500. • Logistics & Warehousing: MAS Freight Wave Terminal Ltd (a subsidiary of M.A.S. Consolidated Ltd) has been allocated land to develop a specialized warehouse supply complex. This supports the apparel & textiles and broader logistics sectors. • Financials: One-time lease payment of Rs. 305.99 million (payable in two installments) with an annual nominal rent of Rs. 90,000. • Strategic Context: The projects utilize a portion of the 400 acres of swampy land previously reclaimed by the Sri Lanka Land Development Corporation. These allocations represent a push toward high-value land use for BOI-approved private sector investments to drive economic growth and employment.

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Economic News

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⚡ Tariff Dispute Stalls CEB Restructuring: Govt. Intervention Sought for Rs. 8.8 Bn VRS

The power sector reform process faces a significant funding gap as the regulator rejects passing Voluntary Retirement Scheme (VRS) costs onto consumers. • Funding Deadlock: The Ceylon Electricity Board (CEB) requires Rs. 8.83 Bn to compensate 2,010 employees opting for voluntary retirement. While the Cabinet initially approved recovering this via tariffs, the PUCSL and IMF have officially declined the inclusion of these costs in the 2026 tariff structure. • Reform Impact: The refusal leaves the CEB and its successor entities unable to secure loans for the VRS, threatening the timeline for broader energy sector restructuring and debt management. • Proposed Solution: The Energy Ministry has requested the Treasury to intervene by offsetting the Rs. 8.8 Bn cost against a separate Rs. 71.83 Bn legacy debt recovery stream already slated to be collected via tariffs over the next 15 years. • Context: These reforms are critical to Sri Lanka's IMF program, which aims to professionalize the utilities sector and reduce the fiscal burden of State-Owned Enterprises (SOEs) on the national budget.

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📈 CBSL Systemic Risk Survey H1 2026: Market Confidence & Perceived Risks

The Central Bank of Sri Lanka (CBSL) has released its H1 2026 Systemic Risk Survey, capturing market sentiment following the Ditwah cyclone. The findings reflect the perceptions of risk management executives across the banking, insurance, and microfinance sectors. • Overall Sentiment: The survey tracks market participants’ confidence in the stability of the Sri Lankan financial system and identifies emerging sources of systemic risk. • Risk Landscape: Key data points focus on the immediate aftermath of recent natural disasters and their perceived impact on the financial infrastructure and licensed finance companies. • Sector Coverage: Responses were gathered from a broad sampling frame, including stock brokerage firms, unit-trust managers, and mobile money service providers. • Key Note: Findings are based on respondent perceptions (collected Dec 2025 – Jan 2026) rather than official CBSL projections. _Note: This summary is based on provisional survey results released by the CBSL._

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Sri Lanka Construction Activity Surges to Near-Record High in Jan 2026 📈

The construction sector saw a significant expansion in January 2026, with the Total Activity Index reaching 75.0. This marks the second-highest level ever recorded, trailing only the July 2020 peak. • Overall Momentum: The index rose sharply due to the launch of new projects following the New Year and a recovery from December’s weather disruptions. • New Orders & Procurement: The New Orders Index grew across most segments, signaling strong project availability. This led to a rise in the Quantity of Purchases as firms stocked materials for upcoming work. • Employment Trends: While the Employment Index expanded, many firms reported persistent challenges in recruiting for specialized skilled labor roles. • Supply Chain: Suppliers’ Delivery Time remained lengthened, indicating continued pressure on logistics and material timelines. _Data based on the Central Bank of Sri Lanka’s Purchasing Managers’ Index (PMI) for Construction._

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📉 Colombo Food Inflation Slumps to 0.2% in February 2026

Sri Lanka's headline inflation continued its downward trajectory in February, driven primarily by a sharp deceleration in food prices within the Colombo district. • Overall Inflation: The Headline Colombo Consumer Price Index (CCPI) slowed to 1.6% YoY in February 2026, down from 2.3% in January. • Food Sector: Inflation for the food category saw a significant drop to 0.2% YoY, a sharp decline from the 3.3% recorded in the previous month, signaling eased pressure on essential commodities. • Non-Food Sector: Conversely, non-food inflation saw a moderate uptick, rising to 2.3% YoY in February compared to 1.8% in January. • Economic Context: The data reflects a notable moderation in the cost of living related to agriculture and food supply chains, though non-food categories suggest emerging price pressures in other segments of the economy. _Source: Based on provisional data from the Department of Census and Statistics (DCS)._ ---

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Global Debt Hits Record US$ 348 Tn Amid Government Spending Spree 📈

The Institute of International Finance (IIF) reports that global debt reached a staggering US$ 348 trillion at end-2025, marking the fastest annual accumulation since the pandemic. Key Figures & Sector Breakdowns • Total Addition: ~US$ 29 Tn added in 2025 alone. • Government Debt: Rose to US$ 106.7 Tn (from US$ 96.3 Tn in 2024), driven by US, China, and the Euro area. • Corporate Debt: Non-financial corporate debt reached approximately US$ 100.6 Tn. • Household Debt: Increased moderately to US$ 64.6 Tn. Emerging Markets & Sri Lanka Context • Debt Ratios: Emerging Market (EM) debt-to-GDP hit a record above 235%, while advanced economies saw a slight dip to ~308%. • Refinancing Pressure: EMs face over US$ 9 Tn in debt redemptions in 2026. • Sector Drivers: Growth is increasingly fueled by "supercycles" in AI-driven data centers, energy transition, and infrastructure. • Sri Lanka Relevance: As a frontier market emerging from debt restructuring, Sri Lanka faces a global environment of elevated public borrowing and high rollover needs. While global growth is steady (~3.3% for 2026), the record refinancing burden in EMs could test investor appetite for sovereign paper. _Source: IIF Global Debt Monitor / Reuters (Feb 2026)._

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## Apparel Sector Targets US$ 5.5 Bn Export Revenue in 2026 📈

Sri Lanka’s apparel & textile industry is projected to undergo a "major transformation" this year, with authorities forecasting a strategic rebound despite a slow start in January. • Overall Targets & Growth: The sector aims for US$ 5.5 Bn in export revenue for 2026. This follows a solid 2025 performance, where exports grew by 5.34% YoY, totaling US$ 4.91 Bn. • Market Access & Trade Concessions: United Kingdom: Zero tariffs on more garments under liberalised rules of origin via the Developing Countries Trading Scheme (DCTS). United States: Significant tariff reduction from 20% to 10% expected to boost competitiveness. European Union: Continued leverage of the GSP+ facility to navigate high price sensitivity. • Short-term Performance & Outlook: January 2026: A temporary setback saw exports decline 2.82% YoY to US$ 447.25 Mn, primarily due to lower shipments to the US and EU. Strategy: The EDB expects a February rebound, focusing on a shift toward higher-value products to mitigate global demand volatility and sustain long-term growth.

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### Trade Policy Shift Vital for Sri Lanka’s Growth Transition 📈

A disciplined transition from economic stabilization to structural growth is essential to avoid "reform fatigue," according to economist Talal Rafi at the Softlogic Stockbrokers Investor Forum 2026. • Macroeconomic Recovery Highlights: Debt-to-GDP reduced from 128% to nearly 100%. Interest payments as a % of revenue dropped from 80% to approximately 50%. Gross financing needs declined from 34% to 20% of GDP. Foreign reserves projected to rise from US$ 6.8 Bn to US$ 8.8 Bn by year-end 2026. • Growth Outlook & Targets: IMF growth projections: 2.9% for 2026 and 3.1% for 2027. Shift required from consumption-led recovery to productivity-driven growth. Resumption of bilateral debt repayments in 2028 will add ~US$ 1 Bn annually to obligations. • Strategic Sector Opportunities: Renewable Energy: Capitalizing on global demand for green power and data centers. Logistics & Shipping: Leveraging strategic maritime routes and integration with Southern India. ICT/BPM: Expanding IT-enabled services and technology adoption. Tourism: Essential for sustained external sector strength and diversification. • Key Risks & Challenges: Potential US$ 700 Mn impact on external balances due to import widening and reconstruction. Risks of fiscal slippage, political cycles, and global commodity volatility. Need for urgent reforms in State-Owned Enterprises (SOEs), labor markets, and land regulation. _Summary based on forum proceedings and provisional economic projections._

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📈 Strong Start for Sri Lankan Exports in 2026

Sri Lanka’s export sector recorded a robust 13.71% YoY growth in January 2026, with total earnings reaching US$ 1,532.6 Mn. The performance reflects a strong recovery in global demand and a strategic shift toward a knowledge-based economy. • Overall Figures • Total Exports: US$ 1,532.6 Mn (+13.71%) • Merchandise Exports: US$ 1,165.02 Mn (+10.66%) • Services Exports (Est.): US$ 367.55 Mn (+24.59%) • Sector Breakdowns • Tea: Earned US$ 121.84 Mn (+8.11%), with significant growth in the Turkish market (+120.95%). • Coconut Products: Surged by 30.69%, driven by high demand for coconut oil and activated carbon. • ICT/BPM: A standout performer in services, jumping 60.21% to US$ 177.83 Mn. • Electrical & Electronics: Remarkable 50.79% growth due to insulated wires and cables. • Apparel & Textiles: Experienced a slight dip of 2.82%, totaling US$ 447.25 Mn amid slower US/EU demand. • Top Markets & Regions • USA: Remains the largest buyer (US$ 257.85 Mn), despite a marginal 0.9% decline. • India: Now the 2nd largest destination, growing 38.67% to US$ 113.57 Mn. • European Union: Grew 12.27% overall, led by strong performance in Italy (+25.27%). _Note: Based on provisional data from Sri Lanka Customs and EDB estimates._

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IMF: Sri Lanka Must Transition from Stabilization to Economic Transformation 📈

The IMF Resident Representative, Dr. Martha Woldemichael, emphasized at the Softlogic Stockbrokers Investor Forum that while recovery is a "success story," it remains fragile and requires sustained reform momentum to improve national living standards. • Economic Performance & Targets Real GDP grew by 5% in 2024 (following a 4.8% average contraction in 2022-2023). Inflation fell to 2.3% YoY as of January 2025; Reserves stood at US$ 6.8 Bn at year-end 2024. Tax Revenue increased significantly from 7.3% of GDP in 2022 to 12.4% in 2024. EFF Program: 4 out of 8 reviews completed with approx. US$ 1.74 Bn disbursed to date. • Key Pillars for Transformation Trade & Investment: Focus on trade liberalization, reducing tariffs, and streamlining customs to integrate into global supply chains. Digitalization: Accelerating digital tools in tax administration and public services to reduce corruption. Labor Market: Reforms to increase flexibility and boost female labor force participation to drive growth. Sector Focus: Strengthening tourism through sustainability and enhancing infrastructure connectivity. • Governance & Stability Emphasis on Central Bank independence, fiscal credibility, and rebuilding buffers to absorb future shocks. Debt restructuring is nearing completion, aiming for long-term sustainability. Social safety nets are prioritized, especially as recent natural disasters have put 10% of the population at risk of poverty.

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Sri Lanka’s Data Centre Ambitions: A Cost-Benefit Reality Check 📈

• Overall Investment: The government has proposed a data centre hub, allocating Rs. 500 million (US$ 1.6 million) in the 2026 budget. However, critics highlight this is significantly lower than regional benchmarks, such as Vietnam’s average construction cost of US$ 6.9 million per megawatt. • Current Infrastructure: Sri Lanka currently operates six Tier III data centres serving the domestic market. Transitioning to Tier IV (99.995% uptime) is deemed unfeasible for at least two years until electricity sector reforms are finalized to ensure power isolation and redundancy. • Economic Concerns & Risks: • Employment: High-tech data centres are not major job creators; for example, Bangladesh’s Tier IV facility created only 69 jobs. • Utility Costs: Significant resource consumption is noted, including 2 million liters of water required for some facilities, presenting high opportunity costs for other sectors. • Sustainability & Obsolescence: Concerns exist regarding silicon-based architecture becoming obsolete with future shifts toward quantum or biological computing, potentially leaving current investments stranded. • Comparison with Vietnam: Vietnam’s more developed ICT landscape includes 34 active data centres and a US$ 38.4 billion National Data Development Fund, highlighting the significant scale of investment required to compete as a regional hub.

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### Sri Lanka’s Agriculture: From Welfare to Strategic Industrial Engine 📈

• The Shift: The sector must transition from "survival politics" to a long-term industrial strategy. Historically treated as peripheral, agriculture is now positioned as a strategic economic driver rather than a welfare sector. • Core Requirements: To achieve national transformation, the report identifies five critical pillars: Ten-year policy stability with bipartisan commitment. Structured agricultural financing through state and private banks. Integration of mechanization and agri-technology. Export-oriented value addition strategies. Transparent deployment of World Bank and ADB funding. • Private Sector Success: Entities like the Araliya Rice and Ratna Group serve as proof of concept. Their vertical integration and industrial-scale processing demonstrate that agriculture can generate significant wealth and employment when managed as a serious enterprise. • Food Security & Exports: Beyond individual success, the goal is to build a resilient national food bank and position Sri Lanka as a competitive exporter in regional markets. • Governance: Multilateral grants must be used to build sustainable production ecosystems rather than isolated projects. The focus is on institutional accountability and measurable productivity benchmarks to ensure long-term food security.

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Sri Lanka’s National Inflation Dips to 2.4% in January 2026 📈

Sri Lanka's headline inflation, measured by the National Consumer Price Index (NCPI), slowed to 2.4% in January 2026, down from 2.9% in December 2025. This moderation reflects a continued easing in price pressures across the island. • Overall Inflation: Decreased to 2.4% (YoY) from the 2.9% recorded in the previous month. • Food Sector: Inflation in the food category saw a significant decline, dropping to 3.4% in January 2026 compared to 4.4% in December 2025. • Non-Food Sector: Year-on-Year inflation for the non-food group remained stable and unchanged at 1.6%. The data, released by the Department of Census and Statistics, indicates a cooling trend driven primarily by the food sector, while non-food costs—relevant to transport and utilities—remain steady. This provides a stable backdrop for national cost of living and monetary policy considerations. _Source: Department of Census and Statistics (Provisional)_

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Regulatory & Policy News

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Sri Lanka Entering Final Stage for PayPal Inward Remittances 📈

Sri Lanka is nearing the completion of a long-awaited initiative to enable inward remittances through PayPal, according to Digital Economy Ministry Secretary Waruna Sri Dhanapala. • Current Status: The project is in its concluding phase following successful collaboration between private banks, PayPal, and the Central Bank of Sri Lanka (CBSL). • Economic Impact: SMEs & Freelancers: The move specifically targets internet-based service providers and the ICT/BPM sector, allowing them to receive foreign income through a formal, regulated mechanism. Foreign Exchange: By providing a local address option, the framework aims to capture "lost" forex currently held in overseas or proxy accounts. Formalization: The government expects a shift from informal channels (like Undiyal) to official platforms, improving transparency and tax compliance. • Regulatory Oversight: All transactions will fall under CBSL supervision, ensuring a secure and transparent digital payment ecosystem to strengthen national foreign exchange inflows. _Source: Digital Economy Ministry (Provisional)_

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📈 Proposed Single Cigarette Ban: Economic & Market Risks

Sri Lanka's Sectoral Oversight Committee (SOC) is re-evaluating a total ban on the sale of individual cigarettes. While driven by health concerns, the proposal faces significant pushback regarding its economic impact on small retailers and the potential for market distortion. • Economic & Health Toll: Data from NATA indicates an annual economic loss of Rs. 225–240 billion and approximately 22,000 lives lost to tobacco and alcohol-related causes. • The Unregulated Market: Experts warn a ban on "single sticks" could drive consumers toward the Beedi market (priced at Rs. 10/stick) or illegal smuggled cigarettes. The illegal cigarette trade already deprives the government of over Rs. 100 billion in annual revenue. • Impact on MSMEs: For the "Petti Kade" (micro-retailers), cigarettes act as a "bridge product" that drives foot traffic for other essentials. A full pack currently costs upwards of Rs. 3,200, a price point inaccessible to many consumers in the current economic climate. • Key Concern: A shift from legal sticks to unregulated alternatives could undermine public health goals while squeezing the daily cash flow of thousands of small-scale shopkeepers and reducing national tax collection. _Status: Currently under discussion within the Sectoral Oversight Committee._ ---

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Exporters Now Authorized to Invest in Local Dollar Bonds 📈

The Government has issued Regulations to Repatriation of Export Proceeds No. 01 of 2026 via Extraordinary Gazette, expanding the scope for exporters to utilize repatriated earnings for domestic foreign-denominated investments. • New Investment Access: The amendment updates the 2024 rules under the Central Bank of Sri Lanka (CBSL) Act, allowing exporters to invest in local loan instruments denominated in foreign exchange, a facility previously restricted to incorporated commercial banks. • Market Impact: This policy shift aims to increase demand for local Dollar Bonds, ensure competitive pricing, and deepen the domestic foreign exchange market. • Economic Objective: By enabling the apparel, tea, and ICT/BPM sectors to channel proceeds into these instruments, the move seeks to strengthen national reserves and promote economic stability through better classification of foreign exchange sources. • Regulatory Timeline: Following the initial issuance on 10 December 2025, these updated regulations await formal parliamentary concurrence to broaden participant eligibility.

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CBSL Blacklists 24 Entities for Prohibited Pyramid Schemes 🚫

The Central Bank of Sri Lanka (CBSL) has issued a formal notice identifying 24 entities and apps as prohibited schemes under Section 83C of the Banking Act, No. 30 of 1988. This follows investigations confirming these groups promoted unlawful financial structures. • New Additions: I.C.A.N Advertising (Pvt) Ltd and its affiliates (bannercuts.com, etc.) are the latest to be officially prohibited following CBSL investigations. • Key Prohibited Entities: • OnmaxDT, MTFE App (and its various SL groups), and Ledger Block. • Global Lifestyle Lanka, Best Life International, and Tiens Lanka Health Care. • Qnet/Questnet, Sport Chain, and Fruugo Online. • Fastwin (Pvt) Ltd, Windex Trading, and Beecoin App. • Regulatory Context: Engaging in or promoting these schemes is a criminal offense. The CBSL warns that these activities pose significant risks to the financial sector and individual consumer savings, often masking themselves as ICT or e-commerce opportunities. • Status: Based on official CBSL determinations as of Feb 26, 2026.

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## 📈 AI Governance: A Strategic Imperative for Sri Lanka

The rapid integration of AI across banking, healthcare, and public administration necessitates a robust national governance framework to mitigate escalating ethical and security risks. • Current Global Context Global adoption of AI is accelerating, with major frameworks like the EU AI Act (2024) and Singapore’s Model AI Governance setting international standards. The 2026 data exposure incident involving a senior US CISA official highlights how even "For Official Use Only" data can be compromised via public AI platforms. • Systemic Organizational Risks Data Leakage: Research indicates 8.6% of employees have pasted company data into public tools like ChatGPT, with 4.7% including sensitive source code or client info. Training Vulnerability: Data submitted to public models may be stored and used for future training, leading to potential proprietary knowledge leakage. • Strategic Recommendations for Sri Lanka Framework Alignment: Adopting risk-based regulations similar to the EU and ISO/IEC 42001 standards to ensure global market alignment. Sectoral Guidelines: Establishing specific mandates for high-impact sectors like Finance, Telecom, and Logistics. Secure Alternatives: Moving toward enterprise-grade solutions (e.g., private models) with contractual guarantees on data isolation. • Conclusion Proactive governance is a competitive differentiator. Without it, Sri Lanka faces regulatory misalignment and a potential erosion of public trust in digital government initiatives.

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Sri Lanka to Enact Digital Economy & Cyber Security Laws 📈

The Government is set to introduce two landmark legislations this year—the Digital Economy Act and the Cyber Security Act—to formalize the nation's digital transformation and establish a secure legal framework for a tech-driven economy. • New Authorities & Frameworks • Establishment of the Digital Economy Authority to integrate all Ministries and State institutions into a unified digital ecosystem. • Formation of the Cyber Security Authority to oversee protection standards for public infrastructure and digital systems. • Both Bills are in final drafting stages and are expected to be presented to Parliament within 2026. • Economic & Digital Goals • Target to grow the digital economy to US$ 15-30 Bn by 2030 (approx. 12-14% of GDP). • Increase digital sector foreign exchange earnings from US$ 1.6 Bn to US$ 5 Bn by 2030. • Budgetary allocation of Rs. 30 Bn to drive transformation, with Rs. 16.5 Bn specifically for the Ministry. • Strategic Initiatives • Launch of a national digital identity card and a consolidated "Super App" for State services. • ICT/BPM and GovTech focus to enhance public service efficiency (already tripled for certain certifications). • Digitization of agriculture (CROPIX), health, and education sectors to formalize rural economic activity. • Governance Outlook While the move seeks to coordinate policy, analysts warn of potential bureaucratic layers and high administrative costs by creating new bodies rather than reforming existing institutions like ICTA or SLCERT.

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### ⚖️ Court Orders Trial Against Foreign Broker Over NITF Reinsurance Tender

The Fort Magistrate’s Court has overruled preliminary objections by international firm Tysers Insurance Brokers Ltd., fixing a trial date for alleged violations of the Regulation of Insurance Industry Act. • Core Dispute: Tysers is accused of securing a major reinsurance tender from the National Insurance Trust Fund (NITF) without being duly registered under Sri Lankan law. The tender covers Strike, Riot and Civil Commotion (SRCC) insurance claims. • Financial Impact: The reinsurance contract for the 2024/2025 period involves a premium calculated at approximately Rs. 1 Billion. • Legal Violation: Local brokers, led by Strategic Insurance Brokers Ltd., argued that Section 92 of the Act prohibits any entity from conducting insurance business or acting as an agent in Sri Lanka without local registration. Tysers reportedly used George Steuart Ltd. as an agent during the bid process. • Next Steps: The Fort Magistrate held that the legal bar against unregistered entities applies. The trial is set for March 25, 2026. If found guilty, the firm faces potential fines or imprisonment under the regulatory framework governing the insurance sector.

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National Capital Markets Symposium to Strengthen Regulatory Framework 📈

The Bar Association of Sri Lanka (BASL) will host the National Capital Markets Symposium on February 26, 2026, focusing on the legal and regulatory evolution of the country's securities sector. • Core Objective: Strengthening the integrity of Sri Lanka's capital markets to restore investor confidence and support sustainable economic recovery. • Key Thematic Areas: • Regulatory functions of the Securities and Exchange Commission (SEC) and the Colombo Stock Exchange (CSE). • Listing requirements, capital formation, and issuer compliance obligations. • Enforcement strategies regarding insider trading and market manipulation (e.g., wash trades and false market activity). • Transparency, timely disclosure, and fair trading practices. • Strategic Importance: The forum aims to bridge the gap between legal expertise and market perspectives, ensuring a resilient ecosystem for listed companies, investment advisers, and investors. • Key Participants: Senior officials from the SEC and CSE, legal practitioners, and financial leaders, emphasizing that a predictable legal framework is vital for attracting global capital and protecting stakeholders.

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📈 Modernizing Financial Recovery: Sri Lanka’s New Insolvency Law

Sri Lanka is set for a landmark structural shift with the proposed Rescue, Rehabilitation and Insolvency Law. Moving away from the 1853 Ordinance, the bill shifts the focus from simple liquidation to business continuity and economic stability. • Strategic Objectives The framework aims to preserve enterprise value and protect employment by providing viable businesses a "second chance." It aligns Sri Lanka with global standards, crucial for boosting investor confidence following recent economic restructuring. • Core Pillars of the Bill Corporate Rescue: Introduces an administration regime allowing a temporary pause on creditor actions to facilitate restructuring negotiations. SME Support: Tailored mechanisms specifically for MSMEs to ensure the recovery process is accessible for smaller enterprises. Personal Insolvency: A shift for individuals, offering structured debt protection and rehabilitation orders before bankruptcy. Regulatory Oversight: Establishment of an independent Insolvency Regulatory Authority to professionalize practitioners and maintain high standards. • Economic Impact & Implementation The law addresses the high NPL (Non-Performing Loan) environment by creating predictable outcomes for creditors. Key challenges include the need for specialized training for the judiciary and balancing the new "moratoriums" with the rights of secured lenders. _Status: Based on provisional legislative drafts as of February 2026._

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Tourism Paradox: Rising Arrivals vs. Leaking Revenue 📈

Opposition MP Dr. Harsha de Silva has highlighted a "tourism paradox" where surging visitor numbers are not translating into proportional economic gains for Sri Lanka. • Revenue Leakage: Foreign nationals are reportedly operating unlicensed cafes, bars, and surf camps on tourist visas. Payments are often processed through overseas platforms, preventing income from entering the local economy. • Regulatory Gaps: The MP stressed that all operators must adhere to the same rules regarding licences, local employment, and taxes to ensure fair competition and fiscal benefit. • Overtourism & Environment: Concerns were raised regarding excessive visitor volumes at ecologically sensitive sites like Yala and UNESCO-listed Sigiriya, threatening long-term sustainability. • Strategic Shift: The MP advocates for a "quality over quantity" approach to sustainable tourism to mitigate pollution and congestion while protecting cultural assets.

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Cabinet Approves Updated National Tariff Policy to Boost Trade Coherence 📈

The Cabinet of Ministers has approved a revised National Tariff Policy to align Sri Lanka’s trade framework with current economic and fiscal conditions. The move follows a comprehensive review aimed at improving transparency and legal compliance. • Core Objective: To establish a predictable and coherent tax system that supports trade, investment, and fiscal management. • Key Revisions: The update addresses misalignments with recent economic data and ensures consistency with existing tax laws and statutory provisions. • Regulatory Oversight: The review incorporated specific recommendations from the Committee on Public Finance (COPF) to remove administrative complexities and ensure adherence to legal requirements. • Economic Impact: The policy aims to strengthen the ICT/BPM, manufacturing, and export sectors by providing a more transparent tariff structure, crucial for national employment and economic diversification. The implementation was approved following a resolution by the President in his capacity as the Minister of Finance, Planning, and Economic Development.

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CBSL Revives Banking Sector Consolidation for Smaller Players 📈

The Central Bank of Sri Lanka (CBSL) has reintroduced a consolidation framework aimed at strengthening the banking sector's credit profiles and capital buffers. • Overall Strategy: The framework targets licensed banks with assets below LKR 400 Bn. While the immediate system-wide impact is expected to be modest—affecting banks representing less than 5% of sector assets—it aims to create better-capitalized institutions capable of handling larger exposures. • Implementation & Timeline: A scoring system will evaluate banks from 1 January 2026 to 31 December 2027. Institutions scoring below 60% may face mandatory consolidation. • Key Sector Moves: • Momentum is already visible with the expected acquisition of HDFC Bank (Rating Watch Positive) by Bank of Ceylon. • State Mortgage & Investment Bank (SMIB) is expected to be acquired by People’s Bank. • Consolidation is likely to focus on the 13 licensed commercial banks and 6 licensed specialized banks currently operating in the domestic market. • Economic Impact: Fitch Ratings suggests that merging smaller, niche-model banks with larger, established peers will improve cost efficiency and market confidence. However, success depends on managing recapitalization needs and potential asset quality issues during integration. • Status: Based on Fitch Ratings analysis of the 2026-2027 CBSL framework.

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Market News

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📉 CSE Wraps Up February in Red Despite Healthy Turnover

The Colombo Stock Exchange (CSE) concluded February on a negative note as benchmark indices faced selling pressure, particularly across blue-chip and banking counters. • Market Performance: The ASPI fell by 47 points (0.2%), while the S&P SL20 dropped 74 points (over 1%). For the full month of February, the ASPI and S&P SL20 lost 0.3% and 0.1% respectively. • Liquidity & Turnover: Daily turnover remained strong at Rs. 7.0 Bn, with a monthly average daily turnover of Rs. 5.62 Bn. High Net Worth (HNW) participation was robust, with crossings accounting for 19.4% (Rs. 1.3 Bn) of the day’s total. • Sector Highlights: • Food, Beverage & Tobacco: Led turnover (27% share), boosted by Renuka Agri Foods. The sector index rose 0.75%. • Diversified Financials & Banking: Collectively contributed 42% to turnover. Softlogic Finance (+11%) and LOLC Holdings (+Rs. 6.50) saw gains, while the banking sector faced pressure. • Top Laggards: Heavyweights including Commercial Bank (down 3.17%), John Keells Holdings (JKH), HNB, CTC, and LLUB were key negative contributors. • Investor Sentiment: Foreign investors turned net sellers with an outflow of Rs. 363.8 Mn. While HNW interest centered on Renuka Agri Foods and Softlogic Finance, retail activity focused on Browns Investments and Co-Operative Insurance. Based on provisional daily market data.

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CSE Turnover Surges Past Rs. 7 Bn as Indices Retreat 📈

The Colombo Stock Exchange experienced a sharp decline on Friday (27), despite a massive spike in trading activity that saw turnover cross a significant milestone. • Market Indices: The All Share Price Index (ASPI) dropped by 47.17 points to 23,734.06, while the S&P SL20 (large-cap index) fell 74.20 points to 6,635.97, indicating pressure on blue-chip stocks. • Turnover & Volume: Market turnover reached a robust Rs. 7.01 Billion. A major driver of this liquidity was Renuka Agri Foods PLC, which alone contributed Rs. 1.14 billion in on-board trades, highlighting activity in the food & beverage sector. • Investor Participation: Domestic: Local buying reached Rs. 6.84 Bn, while selling stood at Rs. 6.48 Bn, showing high internal liquidity. Foreign: Recorded a net outflow, with purchases of Rs. 164 Mn against sales of Rs. 528 Mn. • Summary: Despite the high turnover, the session reflected broad-based weakness as indices closed in the red, largely influenced by net foreign selling and a decline in large-cap counters.

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📈 Rs. 140 Bn Bond Auction Sees Yields Fall Amid Record Liquidity

Sri Lanka’s secondary bond market rallied strongly following a highly successful auction by the Public Debt Management Office, which raised the full Rs. 140 billion offered across three maturities. The auction reflected a "bullish" trend driven by a 22-year high in market liquidity. • Auction Outcomes & Yields • 2030 Maturity: Issued at a weighted average yield of 9.50% (fully subscribed). • 2034 Maturity: Issued at a weighted average yield of 10.70% (fully subscribed). • 2037 Maturity: Issued at a weighted average yield of 10.88% (fully subscribed). • Demand: Strong investor appetite with a bid-to-acceptance ratio of 2.79 times. • Market Liquidity & Rates • Net liquidity surplus hit a massive Rs. 341.02 Bn, surpassing the previous day's 22-year record. • Overnight call money and repo rates remained stable at 7.69% and 7.71% respectively. • Aggressive buying in the secondary market pushed rates lower across multiple tenors, including the 2027, 2029, and 2032 maturities. • Currency & Trade Volume • USD/LKR: The Rupee remained steady, closing at Rs. 309.29/309.32 against the US Dollar. • Forex Volume: Total USD/LKR traded volume stood at US$ 123.65 Mn. • Secondary Market: Total transacted volume for bonds/bills reached Rs. 26.43 Bn. Context: Falling yields and high liquidity suggest a favorable environment for government borrowing and potential easing in the broader financial services sector.

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CSE Closes in Green as Blue-Chips Drive Momentum 📈

The Colombo Stock Exchange (CSE) ended on a positive note yesterday, as strong buying interest in heavyweights outweighed selling pressure in the banking sector. • Market Performance: The All Share Price Index (ASPI) gained 0.33% (+78.13 points) to close at 23,781.23. The S&P SL20 rose 0.37% (+24.90 points) to end at 6,710.17. • Trading Activity: Daily turnover surpassed Rs. 4.9 Bn with 195.9 million shares traded. The Capital Goods sector was the primary driver, accounting for 27% of total activity, followed by Banking and Diversified Financials at 25%. • Key Contributors: The upward trend was supported by gains in John Keells Holdings (JKH), Hayleys (HAYL), Melstacorp (MELS), Access Engineering (AEL), and Lanka Milk Foods (LMF). • Sector Highlights & Investor Sentiment: Banking Sector: Faced notable selling pressure as investors reassessed valuations following Q4 earnings releases. Investor Participation: Activity remained steady among retail and High Net Worth (HNW) investors. Foreign Interest: Foreign investors turned net buyers with a net inflow of Rs. 194 Mn.

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📈 CSE Gains Momentum: Turnover Hits Rs. 4.91 Billion

The Colombo Stock Exchange (CSE) saw a significant uptick in trading activity on Thursday, with turnover nearing the Rs. 5 billion mark amid improved investor participation. • Market Indices: The All Share Price Index (ASPI) rose by 78.13 points (0.33%) to close at 23,781.23. The S&P SL20 Index, tracking blue-chip performance, increased by 24.90 points to end at 6,710.17, signaling broad-based positive momentum. • Turnover & Volume: Total market turnover reached Rs. 4.91 Bn, reflecting a sharp rise in liquidity compared to recent sessions. • Investor Sentiment: • Domestic Participation: Domestic purchases totaled Rs. 4.66 Bn against sales of Rs. 4.85 Bn. • Foreign Interest: Foreign investors remained net buyers, recording purchases of Rs. 249 Mn against sales of Rs. 55 Mn, resulting in a Net Foreign Inflow for the day. The session highlights a shift toward active engagement in the Equity Market, driven by a mix of retail and institutional interest as the indices continue their upward trajectory.

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Sri Lanka Overnight Liquidity Hits 22-Year High 📈

• Money Market: Net liquidity surplus crossed the Rs. 300 Bn mark to reach Rs. 322.93 Bn, the highest level in 22 years. The Central Bank drained Rs. 100 Bn via Repo auctions to manage the excess. • T-Bill Auction: Yields declined for the sixth consecutive week across all maturities. 91-day: 7.63% (-3 bps) 182-day: 7.92% (-7 bps) 364-day: 8.24% (-3 bps) The auction was undersubscribed, raising Rs. 67.88 Bn (75.4% of the Rs. 90 Bn offered). • Bond Market: Secondary market yields consolidated with renewed buying interest. A major Treasury Bond auction of Rs. 140 Bn is scheduled for today (Feb 26) across 2030, 2034, and 2037 maturities. • Forex & Rates: The USD/LKR spot exchange rate closed slightly stronger at 309.33/309.36. Call money and Repo rates averaged 7.69% and 7.71% respectively.

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📈 CSE Ends Volatile Session in Green Following Late Rally

The Colombo stock market recovered from a midday dip to close slightly higher yesterday, driven by selective buying interest despite negative overall market breadth. • Market Performance • ASPI: 23,703.10 (+0.05% | +12.48 points) • S&P SL20: 6,685.27 (+0.06% | +4.15 points) • Turnover: Over Rs. 4.0 Bn • Share Volume: 133.1 Mn shares traded • Sector & Stock Highlights • Diversified Financials led turnover (22%), followed by Capital Goods and Banking (combined 35%). • Key gainers included CDB, DIAL, PLR, JKH, and DOCK. • 101 stocks advanced while 127 declined, indicating concentrated gains in specific counters. • Crossings accounted for 16.8% of turnover, led by AEL.N (Rs. 230.2 Mn). • Investor Sentiment • Retail investors were the primary drivers of the session; high-net-worth (HNW) activity remained modest. • Foreign investors were net sellers with an outflow of Rs. 72 Mn. • Year-to-date (YTD) foreign outflow stands at Rs. 15.9 Bn. • Market P/E ratio: 11.17. _Note: Based on provisional market data._

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📈 Market Turnover Tops Rs. 4 Bn as Indices Edge Up

Sri Lanka’s equity market recorded a modest gain on Wednesday (Feb 25), supported by steady domestic participation at the Colombo Stock Exchange. • Market Performance The All Share Price Index (ASPI) rose by 12.48 points (+0.05%) to close at 23,703.10. The blue-chip S&P SL20 Index gained 4.15 points (+0.06%) to end at 6,685.27. • Turnover & Participation Total market turnover reached Rs. 4.02 Bn. Trading was heavily dominated by domestic investors, with local purchases and sales totaling Rs. 3.97 Bn and Rs. 3.90 Bn respectively. • Foreign Investor Activity Foreign participation remained subdued, resulting in a net foreign outflow for the session. Foreign Purchases: Rs. 48 Mn Foreign Sales: Rs. 114 Mn _Note: Market turnover was significantly influenced by the banking and diversified financials sectors._

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📈 Asia Markets Rally on AI Surge & Global Policy Watch

Regional financial markets climbed on Wednesday as investor confidence in Artificial Intelligence (AI) remains a primary growth driver, while attention shifts to US policy and Japanese monetary shifts. • Market Performance MSCI Asia-Pacific index rose 1.0%, led by a record high for Japan's Nikkei (57,956.92). South Korea’s KOSPI surged 1.7%, crossing the 6,000 mark for the first time, fueled by a 44% year-to-date gain. • Tech & AI Sector Memory chip manufacturers are the biggest beneficiaries of the AI boom. Samsung Electronics and SK Hynix stocks have doubled since October due to global shortages. Sentiment was further bolstered by Anthropic unveiling new business AI tools, reinforcing the ICT sector’s role in global profit growth. • Currency & Macro Outlook Japan: The Yen strengthened to 155.7/US$ amid uncertainty over Bank of Japan rate hikes, following reports of political reservations regarding further tightening. USA: Markets are awaiting President Trump’s State of the Union speech for clarity on trade and fiscal policy. Federal Reserve rate cuts are anticipated to begin in June 2026. Commodities: Crude oil rose approx. 0.75% (Brent at $71.30), while Gold remained flat at $5,138.49/oz. _Note: Market data based on early Wednesday trading sessions._

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📈 Secondary Bond Market Gains Interest Amid Major Auctions

The secondary bond market saw a slight uptick in rates yesterday as investors adopted a "wait-and-see" approach ahead of significant upcoming auctions and inflation data. Despite cautious sentiment, healthy transaction volumes were recorded via block trades. • Market Activity & Yields: Renewed buying interest emerged at elevated yield levels. Notable trades included 2028 maturities at 9.15%–9.19% and 2029 maturities between 9.39%–9.54%. Longer-term 2034/35 bonds traded in the 10.75%–10.85% range. • Upcoming Treasury Auctions: - T-Bills: Rs. 90 Bn on offer today (below maturing volume of Rs. 107.56 Bn). - T-Bonds: Rs. 140 Bn auction scheduled for Thursday across 2030, 2034, and 2037 maturities. • Liquidity & Money Market: The system remains in a strong net liquidity surplus of Rs. 297.94 Bn. The Central Bank drained Rs. 60 Bn via overnight repo at 7.63%. • Currency (USD/LKR): The Rupee remained stable, with spot contracts closing at Rs. 309.35/40. Total market volume stood at US$ 98.10 Mn (as of Feb 23). Investors remain focused on the February 2026 CCPI inflation data release due later this week to gauge future interest rate trajectories.

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Colombo Stocks Retreat Amid Conglomerate and Bank Sell-Off 📉

The Colombo stock market closed in the red on Tuesday, primarily weighed down by losses in heavyweights within the diversified holdings and banking sectors. • Overall Indices The benchmark ASPI fell by 0.39% (92.40 points) to end at 23,690.62. The S&P SL20 index, which tracks the 20 most liquid stocks, dropped 0.71% (47.59 points) to settle at 6,681.12. • Market Turnover & Foreign Activity Daily turnover stood at approximately Rs. 3.7 Bn, with over 152.5 million shares changing hands. Foreign investors remained net sellers, recording a net outflow of Rs. 729.3 Mn. • Sector Performance Capital Goods: Led turnover contribution (26%), though the sector index shed 0.91%. Key movements included ACL Cables (+Rs. 1.50) and Access Engineering (+Rs. 1.10), while John Keells Holdings (JKH) fell by Rs. 0.50. Telecommunication Services: Second highest contributor to turnover, with the index edging up 0.02%, despite a slight Rs. 0.10 drop in Dialog Axiata. Banks & Diversified Financials: Significant negative pressure came from Melstacorp, Nations Trust Bank, Sampath Bank, and Central Finance. • Investor Sentiment Retail interest was concentrated in Co-Operative Insurance, Browns Investments, and HVA Foods. High net worth (HNW) and institutional activity was notably observed in Dialog Axiata, ACL Cables, and Commercial Bank.

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Global Market Volatility Hits Asian Stocks Amid U.S. Trade Uncertainty 📈

• Market Performance: Asian markets stuttered as the MSCI Asia-Pacific index fell 0.2%, reversing a six-day rally. This follows a 1.0% drop in the S&P 500 and a 1.1% decline in the Nasdaq, driven by AI trade concerns and a bearish global economy report. • U.S. Policy Impact: Markets are reacting to President Trump's threat of higher duties under Section 122 of the Trade Act, targeting countries backing away from negotiated trade deals. This protectionist stance follows the Supreme Court striking down emergency tariffs, heightening global trade uncertainty. • Key Indicators: • Japanese Markets: The Nikkei 225 bucked the trend, advancing 0.7% upon returning from a holiday. • Currencies & Commodities: The USD strengthened slightly to 154.77 yen. Gold rose 0.3% to US$ 5,244.96 as a safe-haven asset, while WTI crude edged down to US$ 66.23 amid U.S.-Iran tensions. • Volatility: The VIX rose to 21.01, reflecting increased investor jitters. • Monetary Outlook: Fed funds futures signal a 95.5% probability that the U.S. central bank will hold interest rates steady at the March 18 meeting. Based on provisional data.

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Global & International Business

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## 🇮🇳🇱🇰 Sri Lankan Aquaculturists Complete Indian Capacity-Building Program

A delegation of 10 professionals from the National Aquaculture Development Authority (NAQDA) recently concluded a specialized technical training program in India, aimed at enhancing Sri Lanka's freshwater aquaculture and fisheries sectors. • Program Overview: Conducted from February 2–13, 2026, at the Central Institute of Freshwater Aquaculture (CIFA) in Bhubaneswar, a premier research hub under the Indian Council of Agricultural Research. • Key Technical Focus: • Species and system diversification to improve yield. • Advanced breeding techniques, including carp brood stock management and cryopreservation. • Modern farming technologies such as biofloc-based fish farming and aquaponics. • Comprehensive health management for freshwater finfish and shellfish. • Strategic Impact: The initiative emphasizes capacity building as a pillar of bilateral development. India has expanded its training quota to 1,000 Sri Lankan professionals annually, facilitating knowledge transfer in ICT, agriculture, and technical services. • Field Exposure: Participants visited specialized units for ornamental fish, freshwater prawns, and selective breeding, which are critical for diversifying Sri Lanka’s export potential and rural employment. _Note: Summary based on recent institutional reporting._

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Sri Lanka-India Ties Strengthen with US$ 454 Mn Relief & Strategic Investment Focus 📈

Prime Minister Dr. Harini Amarasuriya reaffirmed the strategic importance of the Sri Lanka-India partnership during the Sri Lanka India Society's recent commemoration, highlighting a shift toward sustainable growth and deeper bilateral integration. • Economic & Financial Support: A long-term relief package of US$ 454 million from India was emphasized as a cornerstone for Sri Lanka’s current recovery efforts and ongoing development. • Investment & Tourism: A renewed call for Indian businesses to invest in Sri Lanka was issued, focusing on energy, digital transformation, and connectivity to foster long-term employment and economic stability. • Tourism Sector: Increased arrivals from India remain a priority, leveraging the geographical proximity and established people-to-people ties. • Strategic Cooperation: Key sectors identified for expanded partnership include maritime security, health, education, and trade. • Educational Milestone: The introduction of India’s first international degree program in Sri Lanka marks a significant expansion in the ICT/BPM and education sectors. • Emergency Assistance: Recognition of "Operation Sagar Bandhu" during Cyclone Dithva underscores India's role as the primary responder in regional crises.

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🇱🇰🇰🇷 Sri Lanka & South Korea to Strengthen Economic & Employment Ties

Deputy Minister of Foreign Affairs and Foreign Employment Arun Hemachandra met with South Korean counterpart Eui-Hae Cecilia Chung in Seoul to bolster bilateral cooperation as Sri Lanka advances its economic recovery. • Economic & Development Cooperation: Discussions focused on aligning South Korean development assistance with Sri Lanka’s progress in debt restructuring and national reconstruction initiatives following Cyclone Ditwah. • Overseas Employment: A primary focus was placed on expanding employment opportunities for Sri Lankans in South Korea, leveraging the strong existing labor partnership to support foreign exchange inflows. • Security & Cultural Ties: Both nations committed to enhancing security cooperation and people-to-people engagement, particularly among youth increasingly influenced by Korean culture. • 50 Years of Diplomacy: The meeting set the stage for the 50th anniversary of diplomatic relations in 2027, with plans for high-level visits to strengthen institutional and trade frameworks.

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📈 Global Biz Connect 2026: Positioning Sri Lanka as an International Business Hub

Colombo is set to host "Global Biz Connect 2026" on March 3 at Cinnamon Life, a strategic initiative under the "Rebuild Sri Lanka" movement aimed at economic revival and global trade integration. • Core Objective: The event serves as a high-level platform to bridge the gap between credible Sri Lankan enterprises and international markets, facilitating cross-border trade and foreign direct investment. • Key Industry Focus: Discussions will feature insights into critical sectors including value-added tea, confectionery, hospitality, finance & capital markets, medical tourism, and fashion. • Strategic Networking: Over 100 distinguished business leaders, investors, and influencers from Sri Lanka and the diaspora ecosystem (specifically Australia) will attend to explore scaling opportunities. • Economic Impact: Organised by JCI Colombo Mid Town and the Old Nalandians’ Association of Australia, the summit focuses on diversifying the export basket and strengthening the ICT/BPM and human resources sectors to enhance national competitiveness.

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Sri Lanka and Finland Formalize Political Consultation Mechanism 🤝

Sri Lanka and Finland held their second round of Bilateral Political Consultations in Helsinki on February 25, 2026, marking a significant milestone in their diplomatic ties established in 1954. • Strategic Partnership: The two nations signed a Memorandum of Understanding (MoU) to institutionalize a structured framework for regular political dialogue, aimed at elevating bilateral cooperation to new heights. • Economic & Sectoral Focus: • Discussions centered on expanding trade, investment, and tourism. • Emphasis was placed on private sector engagement and innovation-driven business partnerships. • Key priority areas identified include vocational education (VET), maritime sector (mutual recognition of seafarer qualifications), and meteorological data sharing. • Labor & Education Mobility: • Sri Lanka requested the establishment of a Visa Centre in Colombo to streamline processes for students and professionals. • Discussions focused on facilitating family reunification and enhancing professional mobility for the Sri Lankan expatriate community. • Economic Recovery & Aid: • Sri Lanka acknowledged Finland’s support via the EU GSP Plus scheme and assistance during economic stabilization. • Gratitude was expressed for Finland’s contribution to recovery efforts following Cyclone DITWAH. • Multilateralism: Both delegations reaffirmed their commitment to UN principles and exchanged views on regional and global security. 📈

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SL-Romania Bilateral Mission: Focus on Labour & Digital Cooperation 📈

Minister of Foreign Affairs, Foreign Employment & Tourism, Vijitha Herath, will conduct an official visit to Romania from March 1–3, 2026, to strengthen economic and diplomatic ties. • Labour & Migration: A key highlight is the signing of a bilateral Memorandum of Understanding (MoU) on Cooperation in the field of Labour. This establishes a formal, transparent framework for structured labour mobility and safe migration between the two nations. • Strategic Meetings: Discussions are scheduled with Romanian Ministers of Foreign Affairs, Labour, and Economy to enhance bilateral relations across multiple sectors. • Economic Focus: Beyond foreign employment, talks will cover digitalization, entrepreneurship, and tourism to promote institutional cooperation and mutual economic interests. • Context: This mission prioritizes the ICT/BPM and tourism sectors while formalizing the export of skilled and semi-skilled labor to the European market—a vital source of foreign exchange for Sri Lanka.

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### 🇵🇹 Sri Lanka and Portugal to Bolster Economic and Bilateral Ties

The Portuguese Minister of State and Foreign Affairs, Paulo Rangel, concluded a high-level working visit to Colombo on February 24, 2026, aimed at transitioning long-standing historical ties into a modern economic partnership. • Key Diplomatic Engagements: Minister Rangel met with Foreign Minister Vijitha Herath and Prime Minister Dr. Harini Amarasuriya to discuss expanding cooperation beyond cultural heritage. • Economic & Sectoral Focus: The bilateral talks centered on several key pillars for national growth: Trade & Investment: Commitments were made to enhance economic collaboration through regular consultations. Tourism: Identified as a priority area for growth leveraging shared cultural history. Infrastructure & Heritage: The visit included a tour of the Colombo Port, signaling interest in logistics, alongside visits to major religious and cultural landmarks. • Future Outlook: Both nations affirmed a commitment to collaboration in multilateral fora and contemporary global issues. The visit is expected to act as a catalyst for increased foreign involvement in Sri Lanka’s Tourism and Trade sectors.

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Sri Lanka Showcases Premium Gems at 73rd Bangkok Fair 💎

The Embassy of Sri Lanka in Bangkok facilitated a major presence at the 73rd Bangkok Gems & Jewelry Fair (BGJF), held from February 22–26, 2026. As one of the world's top four jewelry trade exhibitions, the event serves as a critical platform for Sri Lanka’s gems and jewelry sector to access the ASEAN and global markets. • Overall Participation: A total of 60 Sri Lankan companies are exhibiting under the national pavilion, occupying 75 booths. Additionally, 10 Sri Lankan-owned companies based in Thailand are participating, showing a strong regional footprint. • Sector Focus: The pavilion highlights world-renowned Ceylon gemstones, specifically sapphires and other precious stones, emphasizing the country’s heritage in high-end craftsmanship. • Strategic Importance: The delegation was led by the Minister of Industry and Entrepreneurship Development, highlighting the state's commitment to the export of high-value minerals to strengthen trade ties with Thailand. • Scale of Event: The fair features 1,300 companies across 2,800 booths, providing Sri Lankan exporters direct exposure to international buyers and commercial partnerships. Based on official reporting from the Embassy of Sri Lanka in Bangkok. 📈 ---

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Headline: Sri Lankan SMEs Target Indian Markets at IHGF Delhi Fair 2026 📈

The Sri Lanka Export Development Board (EDB) successfully facilitated a 19-member delegation to the 61st IHGF Delhi Fair Spring 2026 and subsequent business link-up sessions in Mumbai. • Strategic Exposure: Sri Lankan SMEs in the giftware & lifestyle products sector gained direct access to India's premier sourcing platform, featuring over 3,000 exhibitors and 2,000+ new product lines. • Sector Focus: The lifestyle products industry is highlighted as a high-potential foreign exchange earner, leveraging traditional craftsmanship to meet growing global demand for niche, sustainable products. • Market Linkages: • New Delhi: Participants engaged with international buyers and explored emerging design trends and eco-friendly production. • Mumbai: Networking with the World Trade Centre Mumbai and the Maharashtra Chamber (MACCIA) facilitated B2B meetings and knowledge exchange. • Overcoming Constraints: The mission aimed to bridge critical gaps for SMEs, including limited exposure to global trends, insufficient design upgrading, and technical skill shortages. • Future Outlook: Through these strategic initiatives, the EDB aims to integrate Sri Lankan artisans into premium international markets by transforming traditional crafts into export-ready, contemporary products.

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U.S. Delegation Eyes Investment in Sri Lanka’s Graphite Sector 📈

A high-level delegation from the Montana State Partnership Program (SPP) and Mooney Group LLC met with Sri Lanka's Ambassador to the U.S. to discuss strategic investments in the island's graphite industry. • Strategic Interest: The U.S. group, including mining executive James Mooney, aims to provide technical expertise and global market access to develop Sri Lanka's high-purity vein graphite. • Value Addition: Discussions focused on moving beyond raw exports toward value-added production, integrating Sri Lanka into the global critical minerals supply chain for energy storage and defense. • Standards & Tech: The partnership seeks to implement advanced technology, safety protocols, and environmental standards to enhance the sector's global competitiveness. • Upcoming Milestones: This follows a growing partnership; a Graphite Mining Summit and a five-day workshop at the University of Peradeniya are scheduled for April/May 2026. _Note: This collaboration aligns with Washington's "friend-shoring" strategy for critical mineral supply chains._

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Diplomatic & Trade Mission: FM Vijitha Herath to Visit Germany 📈

• Foreign Minister Vijitha Herath will undertake an official visit to Germany from February 26-27, 2026, aimed at strengthening bilateral economic and political ties. • The visit centers on an invitation from the German-Asia Pacific Business Association (OAV) Bremen Chapter. Minister Herath will serve as the Guest of Honor and Keynote Speaker for Asia at the OAV’s 125th Anniversary event. • Key objectives of the mission include: • High-level discussions with German Foreign Minister Dr. Johann Wadephul. • Promoting Foreign Employment opportunities for Sri Lankans in the European market. • Hosting a business roundtable focused on attracting investment and enhancing Trade relations. • This engagement is significant for the Tourism and Labour Migration sectors, as the OAV is the largest German association dedicated to Asia-Pacific business partnerships, connecting Sri Lanka directly with major German policymakers and business leaders.

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Sri Lanka & New Zealand Eye Trade Expansion via Expo 2026 📈

The Export Development Board (EDB) held a high-level virtual meeting with New Zealand counterparts to bolster participation in Sri Lanka Expo 2026 and strengthen bilateral economic ties. • Trade Performance & Targets In 2025, Sri Lanka’s exports to New Zealand totaled approximately US$ 31.24 Mn. While New Zealand currently ranks as the 52nd export destination, the EDB identifies significant untapped potential for growth and diversification. • Key Export Sectors Current trade is dominated by: • Ceylon tea and processed foods • Apparel & textiles • Rubber-based products • Edible preparations • Strategic Focus Areas The Sri Lanka Expo 2026 aims to position the island as a sustainable sourcing hub, highlighting: • ICT/BPM and emerging technology solutions • Value-added agriculture and agribusiness • Sustainable manufacturing partnerships • Bilateral Cooperation High Commissioner David Pine and the Sri Lankan business community in NZ committed to facilitating trade delegations and exploring joint ventures to enhance value chains across both markets. _Data based on EDB provisional figures for 2025._

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Product & Service Launches / Business Expansions

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STC TechSphere 2026: Strengthening Sri Lanka’s Industrial Engineering Hub 📈

• Event Overview: Swedish Trading Company (STC) hosted "TechSphere 2026" in Colombo, marking over 40 years of partnership with global engineering giants Atlas Copco and SKF. The forum focused on technical knowledge-sharing and Industry 4.0 applications. • New Strategic Partnership: STC officially introduced Germany’s SUTO iTEC as its newest principal partner, specializing in compressed air measurement and monitoring solutions to enhance industrial efficiency. • Sector Impact: The event showcased advanced technologies for the manufacturing, construction, aviation, and marine sectors. Key focus areas included: Energy Efficiency: Compressed air solutions to reduce operational costs. Predictive Maintenance: Reliability engineering to minimize industrial downtime. Digital Monitoring: Smart systems aligned with global sustainability standards. • Economic Context: A high-level panel explored how global engineering solutions can boost the competitiveness and productivity of Sri Lanka’s industrial base. STC reaffirmed its role as a strategic ICT/BPM and knowledge-transfer hub rather than just a hardware supplier. • Legacy: Established in 1982, STC (part of Chandra Senanayake Holdings) continues to drive technological advancement and sustainable growth through long-term representation of brands like Volvo, SKF, and Atlas Copco.

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FitsAir Launches Dynamic Fare Optimiser for Travel Trade 📈

Sri Lanka’s leading private international airline, FitsAir, has introduced its Dynamic Fare Optimiser (DFO), a technology-driven pricing solution designed to streamline distribution and strengthen partnerships within the aviation and travel sector. • Core Innovation: The DFO provides travel agents with real-time, competitive pricing across the FitsAir network, aimed at improving conversion rates and decision-making speed. • Strategic Integration: The tool is available exclusively via Travelport+, ensuring seamless integration into existing booking workflows for industry partners. • Economic Impact: By empowering the travel and tourism trade with responsive commercial tools, FitsAir aims to enhance operational efficiency and maintain its "Right Price Airline" positioning. • Operational Focus: This launch marks a significant step in the airline's strategy to digitize distribution, supporting the broader ICT and services integration within Sri Lanka's transport infrastructure.

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🏙️ Cinnamon Life at City of Dreams Launches Exclusive Local Resident Offer

Cinnamon Life at City of Dreams Sri Lanka has announced a targeted 'Resident Offer' to encourage domestic engagement with South Asia’s first fully integrated resort. • Special Rate: Sri Lankan residents are offered a preferred rate of US$ 110++ on a double-sharing basis, which includes breakfast. • Hospitality & Leisure: The hospitality project features over 12 restaurants and bars, the Kurundu Wellness spa concept, and extensive entertainment spaces. • Economic Context: As a centerpiece of the City of Dreams development, the resort aims to position Colombo as a top-tier regional hub for tourism and luxury lifestyle services. • Scale: The integrated resort model integrates refined accommodation with world-class entertainment, signaling a shift toward large-scale urban hospitality in the Sri Lankan economy. • Target Market: By offering localized pricing, the management seeks to integrate the project into the local social fabric, ensuring the tourism & leisure sector benefits from both domestic and international traffic.

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📈 HNB Enhances Private Banking with Refurbished Club HNB Centre

HNB PLC has officially reopened its refurbished Club HNB Centre, marking a strategic upgrade to its premier private banking and wealth management proposition for high-net-worth individuals (HNWIs). • Strategic Focus: The facility is designed to provide a more sophisticated service environment for the bank’s highest-tier clientele, emphasizing dedicated advisory, discretion, and relationship-led engagement. • Service Integration: The upgraded center facilitates closer collaboration between clients and specialist teams, offering tailored solutions across investment, credit, and wealth management sectors. • Operational Excellence: Management highlighted that the refurbishment aligns the physical infrastructure with the evolving needs of the banking sector, focusing on privacy, efficiency, and consistent service delivery. • Leadership Engagement: The reopening ceremony was attended by HNB Chairman Nihal Jayawardene, MD/CEO Damith Pallewatte, and COO Sanjay Wijemanne, reflecting the financial sector's commitment to premium service excellence and long-term financial partnerships. _Note: Summary based on news report dated February 27, 2026._

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Pan Asia Bank & DIMO Partner for Digital Leasing Campaign 📈

Pan Asia Bank has signed an MoU with DIMO to launch a specialized commercial vehicle leasing promotion, introducing an industry-first QR-based Customer Inquiry Response System (CIRS) for instant approvals. • Digital Innovation: The new QR-based platform allows SMEs and logistics operators to scan codes at DIMO showrooms for immediate digital inquiries, bypassing traditional manual delays. • Leasing Benefits: • Tenure of up to 7 years. • 0.5% interest rate reduction from the prevailing sheet rate. • 0% interest installment plans for insurance and pre-approved credit cards. • Sector Impact: This initiative targets logistics, SMEs, and entrepreneurs to enhance cash flow flexibility and fleet expansion. • Vehicle Offers: • TATA ACE HT2 (DIMO Batta): Free registration and insurance. • TATA Xenon Yodha: Free registration, insurance, and discounts up to Rs. 50,000. • TATA Super Ace: Free registration included. This partnership leverages fintech integration to streamline financing for Sri Lanka's transport and logistics sectors, driving operational efficiency for small business owners.

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📈 ComBank & David Pieris Automobiles Partner for GWM and BAIC Leasing

Commercial Bank of Ceylon has entered a strategic partnership with David Pieris Automobiles Ltd to provide specialized leasing packages for GWM and BAIC vehicle models, aimed at enhancing mobility access across Sri Lanka. • Leasing Benefits & Terms • Attractive interest rates and concessions on documentation charges. • Tailored repayment schedules aligned with individual income patterns. • Free Credit Card with the first-year annual fee waived. • Promotion valid through 30 January 2027 across the bank's island-wide network. • Vehicle Lineup & Manufacturer Perks • Models included: BAIC (X55, BJ 30, BJ40) and GWM (Haval H6 HEV/PHEV, TANK 300/500 HEV). • Value-adds: Free vehicle registration and two labor-free services. • Warranties: Up to 8 years/160,000 km for batteries and 6 years/200,000 km for engines on hybrid models. • Economic Context • This collaboration leverages ComBank’s position as the largest private lender to support the automotive and SME sectors. • Focuses on increasing the affordability of hybrid and electric (HEV/PHEV) technology to promote sustainable mobility in the domestic market.

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Nippon Koei JV Secures Consultancy for Phase II of Anuradhapura North Water Supply Project 📈

The Cabinet of Ministers has approved the awarding of the construction supervision consultancy contract for Phase II of the Anuradhapura North Water Supply Project. The initiative is a critical step in addressing regional infrastructure and public health needs through improved water utility services. • Contract Details: Awarded to a joint venture between Nippon Koei Ltd. (Japan), Nippon Koei India, and Green Tech Consultants Ltd. (Sri Lanka). The total value is JPY 82.39 million plus Rs. 332.01 million (excluding taxes). • Funding & Procurement: The project is co-funded by the Japan International Cooperation Agency (JICA) and the Government of Sri Lanka (GoSL). Selection followed JICA’s ODA loan guidelines using a quality and cost-based methodology. • Scope & Impact: • Source: Water will be sourced from the Yaan Oya Reservoir. • Target Areas: Provides safe drinking water to Padaviya, Kahatagasdigiliya, Kebithigollewa, Horowpathana, and parts of Rambawa and Medawachchiya. • Objective: Enhances public health and regional development in northern Anuradhapura by ensuring secure, clean water access for thousands of residents. • Consultancy Role: The JV will oversee construction works to ensure efficiency and compliance with international standards during the implementation phase.

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🚢 AIDAdiva Marks Maiden Call at Hambantota Port

The Hambantota International Port (HIP) welcomed the cruise vessel AIDAdiva on February 12, 2026, signaling a boost for the region's tourism and hospitality sector. • Vessel & Passenger Details: The Italian-flagged vessel arrived from Thailand carrying approximately 2,000 passengers (primarily German nationals) and 620 crew members. • Economic Impact: Around 1,400 passengers (70% of total) disembarked for excursions to key southern attractions including Yala National Park, Galle, and Birds Park. • Service Providers: Excursions were managed by Lotus DMC, with port agency services provided by Aitken Spence Shipping Ltd. • Strategic Growth: This marks the second visit by AIDA Cruises to HIP, following the AIDAstella in 2024. The port has seen a steady increase in traffic, following the earlier 2026 call by Celebrity Millennium. • Outlook: The visit reinforces HIP’s growing role in Indian Ocean cruise itineraries and the maritime services sector. Another call by AIDAstella is scheduled for later this year.

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### Advantis and Sarens Form Strategic JV for Heavy Lift Logistics 📈

Hayleys Advantis Ltd has partnered with Belgium-based Sarens Group to establish a Joint Venture (JV) in Sri Lanka, significantly boosting the nation's transportation and logistics capabilities for large-scale infrastructure and renewable energy projects. Key Highlights of the Partnership: • Strategic Focus: The JV combines Advantis’ local operational expertise with Sarens' global heavy-lift engineering to provide end-to-end solutions for out-of-gauge and overweight cargo. • Primary Project: The collaboration’s first major task is the 50MW Haywind wind power development in Mannar—Sri Lanka’s largest private-sector wind investment to date. • Logistics Scope: Advantis and Sarens will manage the specialized transport and erection of wind turbine generators from the Port of Trincomalee to Mannar. Infrastructure & Economic Impact: • Investment in Assets: Advantis has invested in specialized multi-axle hydraulic trailers, blade adaptors, and tower transport trailers to handle complex inland routes. • Energy Transition: By enabling the Haywind project, the JV supports a landmark tariff of US$ 0.0465 per unit (approx. Rs. 14.37), setting a new benchmark for low-cost clean energy in Sri Lanka. • Regional Ambition: The alliance aims to serve as a hub for engineered lifting and project logistics across the wider South Asian region. _Source: Based on official corporate disclosures (February 2026)._

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Nestlé Golden Chef’s Hat Competition 2026 Launches to Boost Hospitality Talent 📈

Nestlé Professional, the B2B arm of Nestlé Lanka, has signed an MoU with the Chefs Guild of Lanka and the Sri Lanka Hospitality Graduates Association to launch the 2026 edition of the Nestlé Golden Chef’s Hat and Junior Golden Chef’s Hat competitions. • Competition Scope & Reach The islandwide initiative focuses on identifying and nurturing emerging culinary talent. The professional category will feature 8 regional competitions across Sri Lanka, providing a national platform for seasoned chefs to benchmark their skills against global standards. • Youth & Education Focus The Junior Competition targets students in the hospitality sector, with regional rounds held at prominent hotel schools. This aligns with the "Nestlé Needs YOUth" initiative, aiming to provide practical exposure and structured learning to bridge the gap between education and industry. • Sector Significance Hospitality & Tourism: Recognised as a critical driver for Sri Lanka's economic transition from stability to growth. Employment: The competition aims to upskill the next generation of chefs, enhancing the quality of the local workforce to meet evolving global demands in the foodservice ecosystem. Based on official launch data as of February 26, 2026.

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## NCE to Host Forum on Global Digital Reach 📈

The National Chamber of Exporters of Sri Lanka (NCE) has announced a high-level forum titled “Business Conversion and Global Reach through Social Media Platforms,” aimed at integrating digital strategy into the core of the export sector. • Event Details: Scheduled for 10 March 2026, 3.30 p.m. at Cinnamon Grand Colombo. Target audience includes CEOs, Directors, and Senior Marketing teams within the export and ICT/BPM sectors. • Strategic Focus: The forum addresses the shift from traditional advertising to digital conversion. Key pillars include mastering TikTok algorithms, optimizing Meta platforms, and utilizing "Hackvertising" to turn global engagement into measurable sales. • Economic Context: Emphasizes social media as a "necessity" for business transformation, allowing Sri Lankan brands to become more relatable and accessible to international buyers through real-time, back-and-forth communication. • Expert Panel: Features leadership from Meta, Daraz, and Roar AdX, moderated by Prof. Rohan Samarajiva. Discussion will focus on sustainable content workflows to reduce the cost of global customer acquisition.

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SriLankan Engineering Secures Long-term MRO Deal with Batik Air Malaysia 📈

• SriLankan Engineering (the MRO arm of the national carrier) signed a long-term Line Maintenance Agreement with Batik Air Malaysia to support all its upcoming flights to Colombo. • Under the agreement, SriLankan Airlines will provide comprehensive line maintenance and engineering services to ensure aircraft readiness and safety for the Malaysian carrier. • This partnership coincides with Batik Air Malaysia’s scheduled resumption of direct flights between Kuala Lumpur and Colombo, set for 30 March 2026, with 4 weekly frequencies using Boeing 737-800 aircraft. • The collaboration reinforces Sri Lanka’s position as a regional hub for aviation maintenance, repair, and overhaul (MRO) services, contributing to the country’s service-export revenue and technical reputation. • The deal marks another milestone for SriLankan Engineering, which recently secured similar long-term agreements with other regional players like Malaysia Airlines and Gulf Air, highlighting its competitive edge in the global MRO landscape.

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Sustainability, ESG & Corporate Responsibility

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📈 Knuckles Spring Water Debuts Sri Lanka’s First Tethered Bottle Cap

Innovation & Sustainability • Knuckles Spring Water, a brand under CPC Lanka (subsidiary of Cargills (Ceylon) PLC), has launched the first tethered bottle cap in the Sri Lankan market. • The design ensures the cap remains attached to the bottle after opening, specifically targeting the reduction of small-format plastic litter in landfills and waterways. Environmental Impact • The initiative aims to improve plastic waste management and boost the recyclability of packaging by ensuring the cap is collected alongside the bottle. • This move aligns Sri Lankan packaging standards with international benchmarks, such as the European Union’s Single-Use Plastics Directive. Broader Conservation Efforts • Beyond packaging, the brand has deployed "Ocean Strainers" in Boralesgamuwa and Wanathamulla to intercept waterway plastic. • Current ESG activities include ecosystem awareness boards in the Knuckles mountain range, reforestation programs, and community water aid during flood relief. Strategic Context • The shift reflects a growing trend in the food & beverage sector toward circular economy practices and responsible plastic consumption, essential for long-term environmental resource efficiency in Sri Lanka.

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📈 DFCC Bank Lists Sri Lanka’s 1st Blue Bond on NSE IX

DFCC Bank has dually listed its inaugural Blue Bond on the NSE International Exchange (NSE IX) at GIFT City, India, marking a milestone for sustainable finance in the region. • Issue Details: The bond is valued at LKR 3 billion and was primarily listed on the Colombo Stock Exchange (CSE). • Cross-Border Collaboration: The listing follows an MoU between NSE IX and the CSE to enhance capital market integration and dual-listing frameworks. • Strategic Focus: Proceeds are dedicated to the marine economy, including sustainable fisheries, aquatic pollution control, and clean drinking water supply. • Historical Context: This follows DFCC’s June 2025 listing of LKR 2.5 billion in green bonds on the same exchange, which focused on renewable energy. • Market Impact: The dual listing aims to diversify the investor base by leveraging GIFT City’s offshore regulatory framework, increasing international visibility for Sri Lankan debt instruments. Based on official exchange disclosures as of February 28, 2026.

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### 📈 Sustainability & Global Economic Strategy: Sri Lanka Perspective

A recent high-level address by a former Sri Lankan Ambassador highlights the critical intersection of geo-economics and sustainable development as a pathway for national stability. • Global Economic Context Global GDP reached approximately US$ 118 Tn in 2025. The world spends US$ 2.8 Tn annually on defense—nearly 2.5% of global GDP. In contrast, eliminating global poverty would cost roughly US$ 400 Bn (0.33% of global GDP). • Regional Inequality & Comparisons South Asia’s GDP per capita remains under US$ 2,900, significantly lower than the global average of US$ 14,200. The 10-member ASEAN region averages US$ 6,000 per capita. Wealth inequality is at a historic high; the global Gini-Coefficient reached 68% in 2024. • Strategic Risks for Sri Lanka Data indicates a 15-20% likelihood of internal conflict when a developing nation faces a GDP decline of 4-5% for consecutive years. Sri Lanka’s 2022 crisis is cited as a primary example of this geo-economic vulnerability. • The Sustainability Mandate Achieving the 17 Sustainable Development Goals (SDGs) is viewed as vital for ICT/BPM, education, and human capital development. Investing just 1% of global GDP into SDGs could eliminate most challenges faced by developing nations. The transition from the 4th Industrial Revolution (AI/EVs) to the 5th Industrial Revolution (advanced biotechnology) requires robust multilateral cooperation to ensure smaller nations aren't marginalized.

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HNB & David Pieris Solar Partner to Boost Renewable Energy 📈

David Pieris Renewable Energy (DPRE) and Hatton National Bank (HNB) have signed a strategic MoU to provide specialized financing for solar energy adoption across Sri Lanka. • Financial Terms: For the domestic sector, loan values range from Rs. 500,000 to Rs. 7,000,000. Commercial & Industrial (C&I) project financing will be structured based on individual requirements. • Repayment: Loans feature a tenure of up to seven years with competitive, flexible interest rates based on the repayment period. • Strategic Impact: The partnership leverages DPRE’s technical expertise and HNB’s banking network to accelerate the transition to sustainable power for households and businesses. • National Goals: This initiative supports Sri Lanka’s target of 70% renewable energy generation by 2030 and achieving carbon net-zero by 2050.

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### Noritake Lanka & Regen Renewables Partner for 350 kWh Solar Project 📈

Regen Renewables Ltd has signed a strategic agreement with Noritake Lanka Porcelain Ltd to implement a solar power project at its Pannala manufacturing facility, advancing sustainable industrial growth in Sri Lanka. • Project Scope: Development of a 350 kWh solar power system designed to integrate clean energy into large-scale industrial operations. • Energy Output: Expected to generate approximately 448,680 kWh of clean energy annually. • Environmental Impact: Estimated reduction of 340 metric tons of carbon dioxide emissions per year, supporting Sri Lanka’s climate action goals and NDC targets. • Sector Synergy: Combines Regen’s 13+ years of expertise (80 MW installed capacity) with Noritake’s position as a pioneering porcelain tableware manufacturer. • Economic Context: Highlights the role of the renewable energy and manufacturing sectors in driving a low-carbon transition and enhancing industrial sustainability. Based on official partnership announcements. ---

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PIM Green Digital Summit 2026: Bridging Sustainability & Tech 📈

The Postgraduate Institute of Management (PIM) will host the PIM Green Digital Summit 2026 this Thursday, February 26. The forum aims to integrate digital transformation with sustainable business practices to navigate global economic complexities. • Event Focus: A premier platform for business leaders and academics to explore how sustainability and digital tools drive value creation in a low-carbon future. • Strategic Goal: Aligning with PIM’s "Business School for the New World" vision to develop leaders capable of managing disruption through ICT/BPM and green strategies. • Key Stakeholders: PIM has a massive footprint in Sri Lanka’s professional landscape, having produced over 350 CEOs and 30,000+ trained professionals. • Distinguished Speakers: Led by Director Dr. Asanga Ranasinghe and organized by Tharindu Ameresekere. Keynote contributors include: • Dr. Ravi Fernando (Sustainability Specialist) • Channa de Silva (LankaPay CEO) • Sandun Hapugoda (Mastercard Country Manager) • Impact: The summit focuses on practical applications of data and platforms to build digitally enabled organizations, essential for long-term employment and national economic competitiveness.

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## 📈 Hayleys Solar Powers Poultry Sector with 4 MW Installation

Hayleys Solar has successfully completed a large-scale 4,036 kW (4.04 MW) solar PV project for Pussalla Meat Producers, marking a significant shift toward renewable energy within Sri Lanka's livestock and poultry industry. • Project Scope: The installation spans six strategic farm locations, including Ganewatta, Hiripitiya, Mangalaeliya, Mahakumbukkadawala, Dompe, and Nagawilluwa. • Operational Impact: Designed to support energy-intensive operations across the entire value chain—from breeding and feed production to processing—enhancing long-term cost sustainability and reliability. • Environmental Contribution: The project is projected to reduce annual carbon emissions by approximately 3.39 million tonnes, aligning with national sustainability goals. • Strategic Importance: This collaboration highlights the growing trend of renewable energy adoption in the agriculture and food processing sectors to ensure business continuity amidst fluctuating energy costs.

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MAS Femography and Selyn Foundation Expand #BleedGood Initiative for 2026 📈

• Strategic Partnership: MAS Femography (FemTech) and the Selyn Foundation have renewed their collaboration to combat period poverty in Sri Lanka through the #BleedGood movement, focusing on women’s well-being and climate-conscious menstrual dignity. • Core Objectives: The 2026 initiative utilizes a four-part model involving the distribution of medical-grade reusable apparel solutions, hygiene education by health practitioners, male advocacy sessions, and climate impact awareness. • Economic & Social Impact: • Focused on reducing long-term costs for women and girls, addressing "unmet needs" exacerbated by Sri Lanka’s recent economic challenges. • Promotes sustainability by transitioning to reusable products, reducing environmental harm compared to disposable alternatives. • Features a robust monitoring framework to inform national policymaking on menstrual equity. • Sector Leadership: Leveraging MAS’s expertise in manufacturing science-backed solutions for menstruation and menopause, the program has evolved from a 2020 crisis response into a multi-stakeholder movement. • Global Footprint: Beyond Sri Lanka, the initiative is piloting programs in Afghanistan and Bangladesh, aiming to set global standards for the apparel & textiles sector in humanitarian contexts.

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Global Expert Calls for Transformation of Sri Lankan Capitalism Through Impact Investing 📈

The first-ever Lanka Impact Investment Summit 2026 highlighted a shift toward "activating the invisible heart of the market," urging Sri Lanka to evolve its financial ecosystem beyond traditional models. • Investment Growth: Japan’s impact investment assets surged from US$ 200 Mn in 2016 to US$ 115 Bn in 2024, providing a blueprint for rapid scale-up in emerging markets. • Ecosystem Development: Success depends on coordination between government, finance, and civil society. Japan successfully unlocked US$ 1 Bn annually from dormant bank accounts for social investment via legislative reform. • Strategic Focus: The summit emphasized that impact investing is vital for addressing social challenges—such as aging populations and fiscal deficits—that government funding alone cannot solve. • Opportunities for Sri Lanka: Experts urged the local financial services sector and ICT/BPM social innovators to collaborate with the global GSG network (spanning 50+ countries) to mobilize private capital for development. • Global Alignment: Recent regulatory shifts, including those in JICA, are now enabling greater private capital mobilization, offering Sri Lanka a pathway to integrate into the global impact economy.

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Illegal Construction of Jaffna Cricket Stadium on Mandaitivu Island Halted by WNPS Demands 📉

The Wildlife and Nature Protection Society (WNPS) has issued a strong condemnation against Sri Lanka Cricket (SLC) for commencing construction of the proposed Jaffna International Cricket Stadium without mandatory legal approvals. • Legal Violations: Construction began without an Initial Environmental Examination (IEE) or Environmental Impact Assessment (EIA), violating the National Environmental Act No. 47 of 1980. • Environmental Sensitivity: The site on Mandaitivu Island comprises critical ecosystems including mangroves, seagrass beds, and coastal wetlands near the Mandaitivu Mangrove Reserved Forest. • Economic & Climate Risks: • The area is a natural flood-retention zone (flooded in 2012, 2017, and 2025); the project is flagged as a potentially "wasteful investment" due to high maintenance and flood risks. • Threatens the livelihoods of local families dependent on small-scale fisheries sustained by these habitats. • Current Status: Despite formal notifications to regulatory authorities regarding earth-moving machinery on-site, no decisive action has been taken to halt the "unlawful" activities. WNPS emphasizes that large-scale development in this region weakens natural coastal defenses and sets a dangerous precedent for institutional transparency and environmental law adherence.

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Abans Environmental Services Achieves Industry-First Ethical Benchmark 📈

Abans Environmental Services Ltd. has become the first company in Sri Lanka’s facility services sector to achieve SEDEX membership and align with the SMETA audit framework. This milestone, verified by Control Union, establishes a new national standard for ethical and sustainable operations. • Key Achievement: First Sri Lankan facility services provider to meet global SMETA standards for labor, health and safety, environment, and business ethics. • Company Profile: Part of the diversified Abans Group (est. 1985), providing janitorial, pest control, and facility management across commercial and public sectors. • Workforce Impact: Strengthens governance and workplace safety for the sector’s largest technology-enabled workforce, promoting fair labor practices and employee welfare. • Strategic Value: Enhances transparency and ESG compliance, aligning Sri Lankan services with global supply chain expectations for international partners.

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Marks and Spencer Donates Rs. 4.7 Mn to ‘Rebuilding Sri Lanka’ Fund 📈

Global retailer Marks and Spencer has contributed to national recovery efforts through a significant financial donation to the Government’s dedicated fund. • Contribution Details: A total of nearly Rs. 4.7 million was donated to the ‘Rebuilding Sri Lanka’ Fund. • Key Representatives: The donation was formalized at the Presidential Secretariat by Marks and Spencer General Manager Rifat Arman and Regional Manager Shabry Aher. • Official Handover: The cheque was received by the Secretary to the President, Dr. Nandika Sanath Kumanayake, in the presence of senior company officials. • Context: This move underscores the involvement of the apparel & retail sector in supporting national stabilization and development initiatives during the recovery phase.

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Industry & Sector News

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📸 Netherlands Embassy & SLPI Launch 'World Press Photo Exhibition 2025'

The prestigious World Press Photo Exhibition 2025 was officially inaugurated on February 27 at One Galle Face, Colombo. This collaborative initiative between the Embassy of the Kingdom of the Netherlands and the Sri Lanka Press Institute (SLPI) showcases global excellence in visual journalism. • Event Details: Opened to the public following a launch ceremony in Colombo's premier retail and business hub. • Strategic Partnership: Highlights the ongoing diplomatic and cultural cooperation between the Netherlands and Sri Lanka, focusing on media freedom and the creative industries. • Economic Impact: While primarily a cultural event, such international exhibitions support tourism and the ICT/BPM sector by fostering global standards in digital media and storytelling. • Scope: Features award-winning photography from around the globe, providing a platform for local professionals in the media and communications sectors to engage with international benchmarks.

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Sri Lanka Makes Historic Automotive Debut at ACMA Automechanika New Delhi 2026 📈

Sri Lanka’s automotive component manufacturing sector marked a major milestone by launching its first-ever national pavilion at ACMA Automechanika 2026 in India. Organized by the Export Development Board (EDB) and SLACMA, the move signals a strategic shift toward an export-oriented manufacturing ecosystem. • Key Highlights: • First-ever collective presence under a national automotive identity in the global value chain. • Participation included firms such as Accolade Engineering, Thimark Technocreations, Auto Foam, and MV Electronics. • Focused on strengths in engineering, electronics, seating systems, and value-added components. • Strategic Collaborations: • Celebrated a 10-year partnership between SLACMA and the Automotive Component Manufacturers Association of India (ACMA). • High-level delegation visits to Indian giants including Hero MotoCorp (producing 7,000 units/day), Uno Minda, and Subros. • Economic Impact: • Aims to integrate Sri Lanka into regional supply chains for global OEMs and Tier 1 suppliers. • Positions the country as a credible manufacturing partner in South Asia, moving beyond a domestic-focused base to drive export-led growth and industrial diversification. _Source: Based on official reports from EDB and SLACMA (2026-02-27)_

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WhatsApp Web Login Glitches: iPhone Users Impacted 📈

• Overall Status: Users are reporting persistent connectivity issues with WhatsApp Web, primarily affecting those attempting to link accounts via iOS devices. While not a global blackout, localized disruptions have been confirmed since approximately 8:37 AM. • Incident Data: Based on provisional reports from Downdetector (as of 10:42 AM): • 56% of complaints involve website access. • 39% relate to the mobile application. • 6% involve messaging failures. • Technical Breakdown: The outage specifically targets the handshake between iPhones and linked devices. Reports indicate that Android users are largely unaffected and are operating under normal service conditions. • Corporate Context: Meta Platforms has not yet issued an official statement regarding the cause or an estimated time for a fix. This disruption highlights the reliance of the ICT/BPM and general business sectors on stable cross-platform communication tools for daily operations.

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Sri Lanka Targets $8 Bn Apparel Exports Amid Industry Revival 📈

The 15th Textile Series returns to Colombo (March 5-7, 2026), serving as a strategic hub to link global suppliers with Sri Lanka's apparel & textile sector as the nation sets ambitious growth targets. • Overall Export Performance Sri Lanka achieved a record US$ 17.3 Bn in total exports last year (+6% YoY). January 2026 data shows a massive surge, with export growth exceeding 30%. National target set at US$ 36 Bn in total export revenue by 2030. • Sector Breakdown: Apparel & Leather The apparel sector remains a cornerstone, generating US$ 5.3 Bn last year. Currently accounts for 32-35% of total national exports. Target: Reach US$ 8 Bn in annual apparel revenue by 2030. • Market & Trade Trends Core markets: USA, EU, and UK account for 50% of total exports. Growth prospect: Zero-tariff access to the UK (effective Jan 2026) is expected to boost the apparel trade significantly. Diversification focus: Expanding into ASEAN, Middle East, Africa, and underutilised markets like Japan, India, and China. • Investment & Future Outlook Raw material imports (yarn, fabric, chemicals) currently total ~US$ 2.7 Bn from key hubs like China, India, and Taiwan. Government aiming for 10-12% overall export growth in 2026. Flagship "Sri Lanka Expo 2026" announced for June 18-21 at BMICH—the first in 14 years.

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### Governance Crisis Stifles Sri Lanka’s Cricket Economy 📈

The structural failure within Sri Lanka Cricket (SLC) boardrooms is overshadowing on-field talent, preventing the sport from reaching its full potential as a premier national brand and economic asset. • Financial Disparity & Valuation Global cricket industry: US$ 3.84 Bn (projected US$ 4.21 Bn by 2029). SLC Net Worth: Approximately US$ 20 Mn—the lowest among major Asian boards. Performance vs. Revenue: Despite a record net surplus of Rs. 6.3 Bn in 2022 and income of Rs. 17.5 Bn, structural investment in grassroots and domestic pipelines remains stagnant. • The Accountability Gap Institutional Inertia: Since 2019, Sri Lanka has suffered first-round exits in 5 consecutive World Cups. Rankings: Currently 6th in Tests/ODIs and 8th in T20Is. Leadership: Current governance shows heavy "entrenchment," with the presidency held for four consecutive terms, often uncontested, despite declining standards and an ICC suspension in 2023. • Sectoral Impact & Management Tourism & Hospitality: Cricket is the most visible global brand for Sri Lanka, driving hotel occupancy and productivity during major tournaments. Managerial Deficit: Analysis suggests a failure to distinguish between coaching (skills) and management (culture/structure). National Context: The "disease" is identified as governance flaws rather than a lack of player talent, as evidenced by recent victories over top-tier teams like Australia.

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Sri Lanka’s Digital ID Rollout & ‘Super App’ Launch by late 2026 📈

Sri Lanka is accelerating its digital transformation with the first digital national identity card expected by Q3 or Q4 2026. The initiative aims to streamline public service delivery through secure biometric authentication. • Digital Identity & GovTech: The new system will eliminate physical ID requirements, using biometric data for 100% verification certainty. A new entity, GovTech, is set to replace the ICTA to enhance inter-institutional data sharing. • Unified ‘Super App’: Procurement for the first phase is complete. The project is now entering the development stage to consolidate multiple state services into a single mobile interface for improved administrative efficiency. • Digital Payments: The GovPay system has already processed over Rs. 2.8 million transactions across 153,530 payments. The platform currently supports 259 state institutions and 3,800 citizen services, including traffic spot fines. • Rural Integration: The government plans to re-launch a QR-based payment mechanism. This strategy specifically targets the informal rural financial sector, aiming to integrate these activities into the formal digital economy to boost national transparency.

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Luxury Brands Debuts DIAGEO ‘World Class’ in Sri Lanka 🍸

Luxury Brands Ltd. has officially introduced World Class by DIAGEO, the world’s most prestigious bartending competition, to Sri Lanka for the first time. This landmark initiative aims to align the local hospitality sector with global standards and support the national tourism agenda. • National Winner: Akash Rajapaksha from Cinnamon Lakeside Colombar was crowned the first-ever Sri Lankan champion. He will represent the island at the regional finals in India against champions from India and Nepal. • Competition Scale: Over 100 bartenders from leading bars and lounges nationwide participated in the Master Class, with the Top 10 advancing to the national finals. • Economic Impact: The program focuses on high-level skills development in service and hospitality, enhancing destination competitiveness and promoting responsible service within the tourism industry. • Sector Growth: By introducing international benchmarking and mentorship, the initiative seeks to elevate the "cocktail culture" as a professional art form, potentially boosting the country's appeal as a premium travel destination. _Source: Based on reported event data, February 2026._

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### 📈 Sri Lanka Gamma Centre Aims for Self-Sustainability

The Ministry of Science and Technology has initiated a strategic plan to strengthen the Sri Lanka Gamma Centre, focusing on operational independence and national economic contribution. • Strategic Objective: Transitioning the facility toward full self-sustainability by expanding existing technical capabilities and service reach. • Operational Focus: Enhancing service quality and customer satisfaction standards to better serve the industrial and healthcare sectors. • Economic Impact: The move is designed to support national development goals, particularly in sectors requiring high-standard sterilization and irradiation services such as healthcare, export agriculture, and food preservation. • Current Status: Based on initial reports from the Ministry; specific financial targets or investment figures remain provisional.

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Sri Lanka Insurance Sector Performance: Q1–Q3 2025 📈

The Insurance Regulatory Commission of Sri Lanka reports robust growth and resilience across the industry as of September 30, 2025, driven by a surge in premiums and asset expansion. • Overall Figures Total Gross Written Premium (GWP) reached Rs. 283.61 Bn, a 19.48% YoY increase. Total Industry Assets grew by 15.97% to Rs. 1.35 Tn. Profit Before Tax (PBT) rose to Rs. 37.38 Bn (+6.6% YoY). • Sector Breakdowns Long-Term Insurance: Remained the dominant driver with GWP of Rs. 164.06 Bn (+25.06% YoY). Assets in this segment grew 17.54% to exceed Rs. 1 Tn. General Insurance: Recorded GWP of Rs. 119.55 Bn (+12.58% YoY). While its PBT surged by 26.2%, the long-term segment saw a slight PBT dip of 6.46%. Insurance Brokers: Showed exceptional growth with total assets rising 32.32% to Rs. 19.55 Bn. • Key Market Highlights Motor Insurance: Regained its lead in the general segment, accounting for 47% of premiums with a 20.15% growth rate. Marine & Trade: Strong performance in marine (+13.09%) and SRCC (+15.70%) reflects increased trade and risk protection needs. Government Securities: Total industry investment in state debt rose 13.47% to Rs. 672.20 Bn. • Claims & Stability Total claims incurred rose 15.75% to Rs. 126.13 Bn, primarily due to a 27.38% spike in long-term insurance benefits (maturities and death benefits).

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## IRCSL Launches Sri Lanka’s First Centralized Insurance Data Repository 📈

The Insurance Regulatory Commission of Sri Lanka (IRCSL), in collaboration with the Credit Information Bureau (CRIB), has officially unveiled a first-of-its-kind national Centralized Insurance Data Repository. This digital transformation marks a shift from fragmented, siloed data to a unified, secure national ecosystem. • Phased Implementation: The platform begins with the integration of motor insurance data, with plans to expand into health and life insurance sectors later. • Industry Impact: • Risk Assessment: Enables accurate, customer-specific risk profiling for fairer, more consistent pricing across the industry. • Fraud Prevention: Provides real-time access to claims data to identify multiple claims for single incidents across different insurers. • Market Penetration: Data-driven insights will help identify underserved segments, aiming to increase overall insurance penetration and financial inclusion. • Customer Benefits: Supports digital identity verification, faster policy issuance, and more efficient claims processing by reducing manual documentation. • Technological Foundation: Managed by CRIB, the repository is built to support advanced analytics and future AI-driven solutions to modernize the financial services landscape.

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📈 Tourist Arrivals Surpass 500,000 in Early 2026

Sri Lanka's tourism sector has crossed a significant milestone, recording over half a million arrivals within the first 53 days of the year, driven by peak season demand and major international events. • Overall Performance Total arrivals from January 1 to February 22 reached 505,751. The period from February 1 to 22 alone saw 228,424 visitors, maintaining a robust daily average and showing strong momentum compared to the 277,327 arrivals recorded in the full month of January. • Weekly Momentum The first three weeks of February consistently outperformed expectations, with each week exceeding 70,000 arrivals: Week 1: 70,355 Week 2: 77,870 Week 3: 71,101 • Top Source Markets (Feb 1–22) India: 16% (37,216 visitors) United Kingdom: 11% (25,867 visitors) • Key Growth Driver The hosting of the ICC Men's T20 World Cup matches in Sri Lanka has been a primary catalyst for the February surge. This "sports tourism" boost has significantly increased inflows from cricket-playing nations, aiding the country's broader economic recovery and employment in the hospitality and transportation sectors.

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Bankers Redefine Risk Standards Following 2022 Crisis 📈

Sri Lanka’s leading bankers have confirmed a permanent shift in risk management, moving away from sovereign-heavy exposure toward private-sector lending and rigorous cash-flow analysis. • Strategic Reset Banking leaders describe the post-2022 era as a "structural reset." Institutions are reducing concentration in government-linked assets; People's Bank noted its loan book previously had 60% exposure to State-Owned Enterprises (SOEs). Shift from "collateral-heavy" lending to prioritizing borrower cash flow and "real-time" liquidity. • Risk & Liquidity Lessons A key focus is now on asset-liability currency alignment to prevent mismatches between rupee liquidity and US$ obligations. Operational risks, including business continuity during power and fuel shortages, are now Board-level priorities. • AML & Compliance Focus The industry is bracing for the third AML/CFT mutual evaluation; failure is cited as "not an option" for global funding access. Banks are integrating AI for transaction monitoring and upgrading Know-Your-Customer (KYC) and Ultimate Beneficial Ownership (UBO) frameworks. Compliance has shifted from a technical function to a monthly Board-level deliberation. • Sector Outlook State banks and private lenders like HNB and DFCC are strengthening capital buffers. System-wide improvement reported in capital adequacy and profitability following the 2022 "stress event."

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Corporate News

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Janashakthi Life Surges in 2025 with Rs 3.42 Bn Net Profit 📈

Janashakthi Life (JXG) reported robust financial results for the year ended December 2025, driven by aggressive expansion in the insurance sector and digitized distribution. • Financial Performance: Recorded a Net Profit after Tax of Rs 3.42 Bn and a Profit Before Tax of Rs 3.95 Bn, reflecting strong underwriting and operational re-engineering. • Premium Growth: Total Gross Written Premiums (GWP) rose by 31% to Rs 8.65 Bn. Notably, New Business saw a significant 67% growth. • Asset Base & Stability: Total assets grew by 6% to Rs 40.3 Bn. The company maintained its commitment to policyholders, settling Rs 3.6 Bn in claims and benefits during the year. • Strategic Outlook: The company remains focused on capital efficiency and market reach, leveraging the strength of the Janashakthi Group to scale its financial services footprint.

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Union Bank Doubles PAT in Milestone FY2025 Performance 📈

Union Bank of Colombo PLC has reported a standout financial year, driven by strategic transformation and aggressive growth in its loan portfolio. • Overall Profitability: Group Profit Before Tax (PBT) reached LKR 2.2 Bn, while Profit After Tax (PAT) doubled to LKR 660 Mn. Total Assets grew 19% to LKR 184.8 Bn. • Revenue Streams: Gross Income surged to LKR 18.2 Bn. This was supported by a Net Interest Income (NII) of LKR 5,638 Mn and a Net Fee and Commission Income of LKR 1,545 Mn. • Lending & Deposits: The Net loan portfolio climbed 36% YoY to LKR 110.8 Bn, significantly outpacing industry averages. The deposit base saw a 15% increase, reaching LKR 118.8 Bn. • Sector Focus: The bank emphasized its role in the SME sector as a catalyst for economic growth, alongside a "digital-first" philosophy to expand accessibility. • Stability: Maintained a healthy Total Capital Ratio of 13.2%, remaining well above regulatory requirements. The Group's performance, including subsidiaries UB Finance PLC and National Asset Management Ltd, reflects structural improvements following the entry of new investment.

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📈 HNB Assurance Reports Record 42% GWP Growth in 2025

HNB Assurance PLC has posted a standout financial performance for the year ended 31 December 2025, driven by the industry's highest growth in Life Insurance premiums and renewals amid stabilizing macroeconomic conditions. • Overall Revenue & Profit Gross Written Premium (GWP): Rs. 19.49 Bn (+42% YoY) Net Written Premium: Rs. 18.44 Bn (+43% YoY) Profit After Tax (PAT): Rs. 2.12 Bn (+28% YoY) Profit Before Tax (PBT): Rs. 3.03 Bn (+28% YoY) • Asset Management & Investments Total Assets: Rs. 68.44 Bn (+28% YoY) Financial Investments: Rs. 62.49 Bn (+29% YoY) Life Insurance Fund: Rs. 48.87 Bn (+27% YoY) Investment Income: Rs. 7.49 Bn (+10% YoY) • Shareholder Value & Market Performance Earnings Per Share (EPS): Rs. 14.15 (+28% YoY) Return on Equity (ROE): Increased to 18.5% (up from 16.9% in 2024) Proposed Dividend: Rs. 5.00 per share (+28% YoY) Market Capitalization: Rs. 17.21 Bn (+43% YoY) The company’s growth, fueled by strong New Business generation and Renewals, underscores its resilience as the insurance sector continues to benefit from renewed financial confidence and a more predictable policy environment. _Note: Data based on reported financial results for the year ended 31 December 2025._

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## ✈️ Cabinet Approves € 9.63 Mn Ground Handling Contracts for SriLankan Airlines

The Cabinet of Ministers has greenlit two major international service contracts for SriLankan Airlines operations at Paris Charles de Gaulle Airport (CDG), France, totaling € 9.63 million over a three-year period. • Passenger & Ramp Handling: A € 7.73 million contract awarded to Groupe Europe Handling. The service agreement is set to commence on 1 April 2026. • Cargo & Warehouse Handling: A € 1.90 million contract awarded to France Handling Cargo. Operations under this contract are scheduled to begin on 1 February 2026. • Strategic Context: These awards, recommended by the Standing High-Level Procurement Committee, ensure the national carrier’s operational continuity in a key European hub, supporting tourism and logistics connectivity. • Contract Duration: Both agreements are fixed for a duration of three years.

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Bank of Ceylon (BOC) Hits Record Rs. 120.8 Bn PBT in 2025 📈

The banking giant concluded FY2025 with landmark growth, driven by digital innovation and a historic shift toward sustainable finance. • Core Financial Highlights Profit After Tax (PAT): Rs. 76.0 Bn (+18% YoY). Profit Before Tax (PBT): Rs. 120.8 Bn. Total Assets: Rs. 5.5 Tn (+10% YoY). Total Deposits: Rs. 4.4 Tn. Gross Loans: Rs. 2.6 Tn. • Revenue & Efficiency Total Operating Income: Rs. 246.8 Bn (+36% YoY). Net Interest Income (NII): Rs. 206.9 Bn (+24% YoY). Net Interest Margin (NIM): Improved to 3.96% from 3.57%. Stage 3 Loan Ratio: Improved significantly to 5.59% (vs 7.17% in 2024). • Key Milestones & Impact Sustainability: Issued Sri Lanka’s largest Sustainability Bond (Rs. 20 Bn) to fund renewable energy, SMEs, and sustainable agriculture. National Contribution: Total tax contribution to the Govt. reached Rs. 76.7 Bn; donated Rs. 500 Mn to the "Rebuilding Sri Lanka" Fund following Cyclone Ditwah. Innovation: Launched a dedicated ICT subsidiary and the country's first biodegradable corn-based banking card. • Stability & Ratings Capital Adequacy: Tier 1 ratio at 11.44%; Total Capital Ratio at 16.89%. Fitch Rating: Affirmed National Long-Term Rating at 'AA-(lka)'. BOC remains Sri Lanka's No. 1 Brand with a valuation of Rs. 57.4 Bn, focusing 2026 strategies on digital transformation and green growth.

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📈 People’s Bank Achieves Historic Rs. 40.2 Bn Profit

People’s Bank has reported its strongest financial performance to date for the year ended 31 December 2025, marked by record-breaking profit and asset growth despite external challenges such as Cyclone Ditwah. • Overall Figures: Standalone Profit After Tax (PAT) reached an all-time high of Rs. 40.2 Bn. Consolidated Group PAT stood at Rs. 43.5 Bn. Group total assets surpassed a historic Rs. 4 Tn milestone. Total loans and advances for the Group reached Rs. 2 Tn. • Key Financial Indicators: Operating income rose by 32.5% to Rs. 165.8 Bn. Net Interest Income (NII) grew 32.8% to Rs. 142.4 Bn. Net Interest Margin (NIM) improved to 4.1% (from 3.4% in 2024). Rupee Liquidity Coverage Ratio maintained at a robust 263.3%. • Sector & Strategic Highlights: Shift in operating model to expand private-sector business alongside traditional roles. Significant progress in ICT/Digital Banking with over 4 million subscribers on digital platforms. Continued focus on MSMEs and grassroots entrepreneurship to drive financial inclusion and national economic progress. Maintained strong capital buffers with a Total Capital Adequacy Ratio of 16.5%, well above regulatory requirements.

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Commercial Bank Makes History: First Private Lender to Cross Rs. 2 Tn Loan Mark 📈

Commercial Bank of Ceylon (ComBank) achieved a historic milestone in 2025, recording the highest annual loan growth in its history to spearhead Sri Lanka’s private sector banking and finance recovery. • Overall Performance Gross loans and advances surged by 36.37% (Rs. 541 Bn) to reach Rs. 2.028 Tn. Total assets climbed to Rs. 3.258 Tn, reflecting a 16.78% increase YoY. Net profit for the Bank stood at Rs. 58.49 Bn, a 44.05% growth over 2024's normalized figures. • Deposit & Liquidity Trends Total deposits grew by 16.65% to Rs. 2.6 Tn, averaging over Rs. 30 Bn in monthly inflows. The CASA ratio—a key indicator of low-cost funding—improved to 39.65%. Net Interest Income (NII) rose by 18.97% to Rs. 136.29 Bn. • Asset Quality & Operations Net impaired loans (Stage 3) ratio improved significantly to 1.54% from 2.76% YoY. The Bank remains a top lender to the SME sector and a major foreign income generator via operations in Bangladesh and the Maldives. Tier 1 and Total Capital Ratios remained robust at 13.04% and 16.70% respectively, well above regulatory requirements. • Efficiency Cost-to-income ratio (excluding taxes) improved to 29.66% from 33.94%. Net assets value per share increased to Rs. 198.30. I can provide a more detailed breakdown of the Bank's digital banking growth or its SME lending impact if you'd like.

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Seylan Bank Achieves Record LKR 12.1 Bn Profit in 2025 📈

Seylan Bank has reported its highest-ever annual performance for the financial year ended 31 December 2025, driven by strong growth in lending and significant improvements in asset quality. • Overall Financial Performance • Profit After Tax (PAT): LKR 12.1 Bn (↑ 20.5% YoY) • Profit Before Tax (PBT): LKR 19.6 Bn (↑ 22.3% YoY) • Total Assets: LKR 921 Bn (↑ 18% YoY) • Earnings Per Share (EPS): LKR 19.05 (vs LKR 15.81 in 2024) • Revenue & Operations • Net Interest Income: LKR 38.3 Bn (↑ 4.21%) amid a moderated Net Interest Margin of 4.50%. • Net Fee-Based Income: LKR 8.3 Bn (↑ 16.34%), bolstered by cards, remittances, and trade services. • Total Operating Income: LKR 48.1 Bn (↑ 13.0%). • Operating Expenses: LKR 21.4 Bn (↑ 8.53%), primarily due to personnel costs. • Stability & Asset Quality • Impaired Loans (Stage 3) Ratio: Improved significantly to 1.03% (from 2.10% in 2024). • Stage 3 Provision Cover: 86.33%, among the highest in the banking sector. • Total Capital Adequacy Ratio: 17.89%, well above regulatory requirements. • Return on Equity (ROE): 15.89%. • Growth Drivers • Loans and Advances grew by LKR 137 Bn to reach LKR 600 Bn. • Customer Deposits increased by LKR 86 Bn to LKR 733 Bn. • Successfully raised LKR 15 Bn via Basel III compliant debentures in July 2025. _Note: Ratings upgraded by Fitch to 'A+(lka)' with a Stable Outlook during the year._

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📈 HNB Reports Record Growth and Rs 49.8 Bn Group PAT in 2025

HNB Group demonstrated strong financial resilience in 2025, driven by record credit expansion and improved asset quality despite the impact of Cyclone Ditwah. • Financial Performance Summary: • Group Profit After Tax (PAT): Rs 49.8 Bn. • Bank PAT: Rs 45.4 Bn. • Total Tax Contribution: Rs 48.4 Bn. • Proposed Dividend: Rs 20.00 per share. • Balance Sheet Highlights: • Gross Loans & Advances: Crossed Rs 1.5 Tn (+Rs 354 Bn), the largest annual increase in HNB’s history. • Total Deposits: Reached Rs 1.96 Tn (+Rs 246 Bn), supported by strong CASA mobilization. • Total Assets: Expanded 15% YoY to Rs 2.39 Tn. • Sector & Operational Insights: • Digital Banking: Net Fee and Commission Income surged 28.9% YoY, fueled by card usage and digital transactions (HNB Solo, TradeX). • Trade Finance: Emerged as a key contributor following the reopening of vehicle imports and increased trade activity. • Net Interest Income: Declined marginally by 0.6% due to lower market rates and an accommodative monetary policy. • Exchange Income: Recovered to Rs 6.3 Bn (from a loss of Rs 2.9 Bn in 2024). • Asset Quality & Capital: • Net Stage 3 Ratio: Improved significantly to 1.09% (vs 1.88% in 2024). • Provisioning: Includes Rs 2.2 Bn in post-model adjustments for climate risk related to Cyclone Ditwah. • Capital Adequacy: Total CAR stood robust at 19.95%, well above regulatory requirements.

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NDB Reports All-Time High Earnings with 2x Growth in Normalised PAT 📈

The National Development Bank PLC (NDB) announced record performance for 2025, driven by a surge in core banking operations and significant improvements in asset quality. • Overall Profitability Normalised Profit After Tax (PAT): Rs. 11.0 Bn, representing a nearly two-fold (100%) growth on a comparable basis (excluding 2024’s one-off ISB debt restructure impact). Net Banking Revenue: Increased by 45.2% on a comparable basis. Return on Equity (ROE): Improved to 13.5% for the full year, peaking at 16.4% in 2H 2025. • Lending & Deposits Net Loans: Expanded by 26.7% to Rs. 593.6 Bn (normalised basis). Total Deposits: Grew by 10.4% to Rs. 707.2 Bn (normalised basis). CASA Ratio: Improved to 23.9% from 22.5% in 2024. • Sector Highlights & Operations SME Sector: Credit to Small and Medium Enterprises expanded by over 25.0%, supporting national economic revival. Fee Income: Rose 14.3% to Rs. 8.1 Bn, led by digital banking, trade finance, and cards. Credit Costs: Declined by 57% to Rs. 5.7 Bn due to better recoveries; Stage 3 loan ratio improved to 10.8% (from 14.0%). • Stability & Shareholder Value Statutory Ratios: Total CAR at 15.9% and Liquidity Coverage Ratio (LKR) at 257.3%, well above regulatory minimums. Earnings Per Share (EPS): Rs. 25.90 (up from a normalised Rs. 13.30 in 2024). Net Asset Value: Increased to Rs. 201.51 per share. _Note: Comparisons exclude one-off impacts from the 2024 ISB debt restructuring for a normalised view of core performance._

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📈 Hayleys PLC to Raise Rs. 7 Billion via Debenture Issue

Hayleys PLC has announced plans to raise up to Rs. 7 billion through a listed, rated, unsecured, senior, redeemable debenture issue on the Colombo Stock Exchange (CSE). • Issue Details: Initial offer of 50 million debentures at Rs. 100 each, with an option to issue an additional 20 million debentures at the discretion of the company. • Total Capital: The company aims to raise a maximum of Rs. 7 billion to strengthen its capital position or address corporate requirements (based on provisional board approval). • Regulatory Status: The issue is currently subject to necessary regulatory approvals; details regarding tenure and interest rates are to be announced in due course. • Market Reaction: Hayleys PLC shares remained stable, ending at Rs. 239 prior to the announcement.

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CEB Engineers Launch Token Strike Over Restructuring ⚡

The Ceylon Electricity Board (CEB) Technical Engineers and Superintendents Association, supported by 24 trade unions, will stage a six-hour token strike today (Feb 26) from 12:00 PM to 6:00 PM. • Core Grievances: Unions allege authorities failed to meet eight key demands regarding the energy sector restructuring process. They specifically oppose the gazetting of the CEB's dissolution into six new subsidiary entities without fulfilling prior employee assurances. • Operational Impact: • No routine maintenance or repair work will be conducted during the strike window. • Union leaders warned that system safety requirements could necessitate shutting down sections of the national power grid. • Essential services including Parliament, the National Hospital, the Ministry of Defence, and the ongoing international cricket tournament are exempted from disruptions. • Economic Context: Treasury Secretary Dr. Harshana Suriyapperuma recently labeled the CEB restructuring as the government's "flagship reform" during talks with ISB bondholders. • Future Outlook: Unions have signaled an escalation to further industrial action without notice if the Government proceeds with the restructuring gazette without addressing outstanding concerns.

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Appointments & Executive Moves

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Indira Malwatta Appointed to CT Holdings Board 📈

CT Holdings PLC has announced the appointment of Indira Malwatta as an Independent Non-Executive Director, bringing over 40 years of expertise in export promotion and international marketing to the group. • Professional Background: A veteran in public sector leadership, she served as the first female Chairperson of the Sri Lanka Export Development Board (EDB). Her experience spans the industrial, agricultural, and SME sectors. • Key Achievements: Recipient of the Wifts Foundation Lifetime Achievement Award (London, 2016) and recognized by the LMD “A-List” of Sri Lankan business leaders. She has served as a focal point for projects with the World Bank, ITC, and JETRO. • Current Directorships: Currently holds Board positions at Samson International PLC (Chairperson), Cargills (Ceylon) PLC, Kotmale Holdings PLC, and Lanka Shipping and Logistics Ltd. • Economic Context: Her appointment strengthens the board’s capacity in supply chain management and women’s empowerment, reinforcing CT Holdings’ strategic leadership in the retail and manufacturing sectors. Note: Based on provisional corporate data. ---

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Commercial Bank Appoints Hasrath Munasinghe as Executive Director/COO 📈

• Commercial Bank of Ceylon PLC has officially appointed Hasrath Munasinghe as Executive Director and Chief Operating Officer (COO), effective 27 April 2026. He succeeds S. Prabagar, who retires after a 30-year career at the bank. • Munasinghe currently serves as Deputy General Manager – Corporate Banking. His extensive tenure at ComBank includes leadership roles across Retail Banking, Digital Banking, Remittances, and Sustainability. • With 31 years of multi-disciplinary experience in Banking, Telecommunications, and FMCG, he brings over 15 years of corporate management expertise to the role. He is credited with driving portfolio expansion and strengthening asset quality. • He holds dual roles as a Director of CBC Finance PLC and a Board member of the UN Global Compact (UNGC) Network Sri Lanka, reflecting a focus on ESG and responsible governance. • Academically, he holds an MSc in IT from the University of Moratuwa, an MBA, and professional fellowships from CIMA (UK) and CIM (UK). _Note: Appointment follows the scheduled retirement of the current COO._

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### Union Assurance Appoints CEO Senath Jayatilake to Board 📈

Union Assurance PLC has officially appointed its Chief Executive Officer, Senath Jayatilake, to the Board as an Executive Director, effective immediately. This move strengthens the leadership synergy between the company’s executive management and its strategic governance. • Executive Profile: Jayatilake serves as an Executive Vice President of the John Keells Group. His previous leadership includes a tenure as CEO of John Keells Logistics Ltd. • Professional Expertise: Brings over 19 years of experience across operations management, sales and marketing, and financial management. • Qualifications: • MBA from the Postgraduate Institute of Management (SJP). • BA (Hon) in Finance, Accounting, and Management (University of Nottingham). • Associate Member (ACMA) and Chartered Global Management Accountant (CGMA). • Strategic Impact: The appointment is expected to bolster Union Assurance’s position within the insurance and financial services sectors by leveraging Jayatilake's extensive cross-industry experience within the John Keells ecosystem.

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Mazagon Dock Nominees Appointed to Colombo Dockyard Board 📈

Colombo Dockyard PLC (CDPLC) has officially appointed several new directors nominated by its major shareholder, India’s Mazagon Dock Shipbuilders Ltd (MDL), effective February 24, 2026. This follows MDL's recent acquisition of a 41.73% stake (164.9 Mn shares) as part of a US$ 52.96 Mn strategic investment to revive the facility. • New Board Appointments • Capt. Jagmohan: Chairman & MD of MDL (Non-Executive, Non-Independent Director). • Biju George: Director (Shipbuilding) of MDL. • Ruchir Agrawal: Director (Finance) of MDL. • Thimira S. Godakumbura: Current MD/CEO of CDPLC, now representing MDL. • Strategic Context • The shift reflects MDL’s increasing oversight as it moves toward securing a 51% controlling interest via an ongoing mandatory offer at Rs. 40.00 per share. • The partnership aims to integrate Sri Lanka’s shipbuilding & heavy engineering sector into regional supply chains and resolve long-standing working capital constraints. • Governance & Growth • Nominees bring expertise in naval architecture, defense operations, and finance to strengthen strategic oversight. • Appointments were approved by the Nomination and Governance Committee in compliance with CSE listing rules.

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Headline: Corporate Heavyweight Chinthaka Jayaweera Joins Boards of Ceylon Guardian and Ceylon Investment 📈

Carson Cumberbatch group companies Ceylon Guardian Investment Trust PLC and Ceylon Investment PLC have announced the appointment of Chinthaka Jayaweera as an Independent Non-Executive Director, effective February 2026. • Executive Profile A veteran with over 28 years of global experience at A.P. Moller Maersk Group, Jayaweera previously served as Vice President and Chief Internal Audit Executive. He brings extensive expertise in governance, risk management, and global finance operations, having spent over two decades at Maersk's head office in Denmark. • Strategic Board Expansion His appointment extends beyond the investment sector; he has also joined the boards of other major entities within the group, including: Bukit Darah PLC Carson Cumberbatch PLC Equity Two PLC (Real Estate) Pegasus Hotels of Ceylon PLC (Leisure/Hospitality) • Qualifications & Background Education: Global Executive MBA from TRIUM (LSE, NYU Stern, and HEC Paris); leadership programs at Harvard and INSEAD. Professional: Fellow of CIMA (UK) and Member of CIM (UK). Career Roots: Started at KPMG Sri Lanka and Vanik Incorporation before a long-tenured career in international logistics and shipping. The addition of such a high-caliber professional is expected to strengthen independent oversight and risk compliance across these key investment and holding companies. _Note: Based on official corporate disclosures to the Colombo Stock Exchange (CSE)._

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Suresh Shah appointed as HNB Chairperson effective April 2026 📈

• Leadership Transition: The Board of Hatton National Bank (HNB) PLC has appointed Suresh Kumar Shah as Chairperson, effective 1 April 2026. He succeeds Nihal Jayawardene PC, who retires following the AGM on 31 March 2026. • Profile & Expertise: Shah is currently an Independent Non-Executive Director at HNB and a Fellow of the Institute of Chartered Accountants of Sri Lanka. He brings extensive experience from the banking & finance and beverage sectors, having served as CEO of Lion Brewery (Ceylon) PLC and Ceylon Beverage Holdings PLC for 30 years. • Public Policy & Governance: A significant figure in Sri Lanka's economic policy, Shah previously headed the Government’s State-Owned Enterprise (SOE) Restructuring Unit. His leadership background includes chairing The Ceylon Chamber of Commerce and The Employers’ Federation of Ceylon. • Current Board Roles: He maintains a strong presence in the corporate sector, serving as Chairman of Ceylon Tobacco Company PLC and holding directorships at Carson Cumberbatch PLC, Bukit Darah PLC, and Lanka Canneries Ltd.

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Dr. Parakrama Dissanayake Returns as SLPA Chairman 📈

Maritime industry veteran Dr. Parakrama Dissanayake officially assumed office as Chairman of the Sri Lanka Ports Authority (SLPA) today, 17 February 2026. This marks his third tenure leading the authority at a critical juncture for the logistics & shipping sector. • Strategic Leadership: A former Presidential Advisor and the first non-British President of the Institute of Chartered Shipbrokers (UK), Dr. Dissanayake brings extensive experience from both the public and private sectors, including leadership roles at Aitken Spence PLC. • Key Objectives: His new term will prioritize: • Enhancing operational efficiency and digitalization. • Expanding capacity to meet the target of 15 million TEUs by end-2026. • Strengthening Sri Lanka’s position as the primary transshipment hub in South Asia. • Economic Context: The appointment follows a strong performance in 2025, where the Port of Colombo recorded a historic high of 8.29 million TEUs. Under his previous leadership, SLPA achieved its then-highest profit of Rs. 13.1 billion, and Colombo was ranked as the world's fastest-growing container port (1H 2018). • Infrastructure Focus: His tenure is expected to oversee the finalization of the East Container Terminal (ECT) and the West Container Terminal (WCT), which are pivotal for national employment and regional trade competitiveness.

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Kamal Munasinghe Appointed GM of Cinnamon Life at City of Dreams 🏨

• Executive Move: Hospitality veteran Kamal Munasinghe takes the helm as General Manager effective 15 February 2026. He concurrently retains his role as Senior Vice President – Colombo Hotels for Cinnamon Hotels & Resorts. • Experience Profile: Brings 30+ years of local and international experience (Switzerland, Malaysia, Vietnam). Previous leadership roles include COO of Cinnamon Hotels and stints with global brands like Marriott, Hyatt, and Mövenpick. • Strategic Focus: Tasked with driving the next growth phase of South Asia’s first fully integrated resort, aiming to solidify Colombo’s position as a hub for luxury hospitality, entertainment, and business. • Project Scope: Cinnamon Life represents Sri Lanka’s largest private sector investment. The landmark development features: • 687 luxury rooms and suites. • 5 grand ballrooms and an extensive restaurant portfolio. • A premium retail mall and over 1,000 pieces of Sri Lankan art. • Economic Impact: The appointment comes at a pivotal moment for tourism, with the integrated resort serving as a catalyst for urban transformation and global positioning of the travel & leisure sector.

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Diplomatic Appointments: Parliament Approves Four New Heads of Mission 🇱🇰

The Committee on High Posts, chaired by Prime Minister Dr. Harini Amarasuriya, has officially approved the nominations for four key diplomatic representatives. These appointments are vital for strengthening Sri Lanka’s bilateral relations and labor migration oversight in the Middle East and Africa. • New Diplomatic Appointments: State of Israel: H.M.G. Saman Kumar Chandrasiri (Ambassador) Republic of Kenya: W. Peter Rohan Dhammika Fernando (High Commissioner) Lebanese Republic: Anura Withanage (Ambassador) State of Palestine: Mohamed Farook Mohamed Fawzer (Representative) • Strategic Context: These appointments cover regions critical to Sri Lanka’s foreign employment sector and regional diplomacy. The approvals follow standard parliamentary vetting to ensure leadership stability in missions overseeing trade and citizen welfare abroad. _Note: Based on official parliamentary committee reports._

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New Leadership: Chinthaka Jayaweera Joins Carson Group Boards 📈

• Corporate Governance: Chinthaka Jayaweera has been appointed as an Independent Non-Executive Director to the boards of Bukit Darah PLC, Carson Cumberbatch PLC, Equity Two PLC, and Pegasus Hotels of Ceylon PLC. • Professional Background: A seasoned executive with 28 years at A.P. Moller Maersk Group, most recently serving as Vice President and Chief Internal Audit Executive in Denmark. His expertise spans Governance, Risk Management, Internal Controls, and Compliance. • Local & Global Expertise: • Former Country Manager for Maersk Logistics – Sri Lanka and Maldives. • Previous roles at KPMG and Vanik Incorporation. • Experienced in overseeing global finance operations and independent roles for high-net-worth family trusts. • Qualifications: Holds a Global Executive MBA from TRIUM (LSE, NYU Stern, and HEC Paris). He is a Fellow of CIMA (UK) and a Member of CIM (UK), with additional executive education from Harvard Business School and INSEAD. • Strategic Impact: The appointment brings significant international logistical and financial oversight experience to these key Sri Lankan entities across the investment holding, real estate, and hospitality sectors.

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New Leadership for Sri Lanka’s Digital Transformation 📈

• Appointment Details: President Anura Kumara Dissanayake has formally appointed Mr. Waruna Sri Dhanapala as the Secretary to the Ministry of Digital Economy. The appointment letter was handed over today, 13 February 2026, at the Presidential Secretariat. • Professional Profile: Mr. Dhanapala is a Special Grade officer of the Sri Lanka Administrative Service (SLAS). His transition to the permanent role follows his tenure as Acting Secretary for the same ministry since 29 November 2024. • Strategic Context: This appointment solidifies leadership within the ICT/BPM and digital infrastructure sectors, which are pivotal for national economic diversification and modernizing public service delivery. • Status: Based on official presidential communications.

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## ADB Appoints Sona Shrestha as Director General for South Asia 📈

The Asian Development Bank (ADB) has officially appointed Sona Shrestha as the Director General of its South Asia Department (SARD). She will oversee strategic operations across six nations, including Sri Lanka, India, and Bangladesh. • Leadership & Strategy: Shrestha will lead the implementation of ADB’s development strategies, focusing on promoting inclusive and sustainable growth within the South Asian region. • Extensive Experience: A veteran development leader with over 27 years of experience, including 23 years at the ADB. Her previous roles include Deputy Director General for SARD and leadership positions in financial sector and trade divisions. • Regional Focus: Her remit covers Sri Lanka, Bangladesh, Bhutan, India, Maldives, and Nepal. Shrestha’s background includes deep operational experience across Central, West, and Southeast Asia. • Academic Background: A national of Nepal, she holds a Doctorate and Master’s in Economics from the University of California and a Bachelor’s from Smith College. _Note: Appointment effective as of February 2026._

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Financial & Investment News

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Launch of $ 100 Mn Sri Lanka Opportunity Fund for Global Investors 📈

ACP Asset Management has launched the Sri Lanka Opportunity Fund, the first-ever European-regulated (UCITS) fund dedicated exclusively to Sri Lankan assets. Regulated by the FMA of Liechtenstein, the fund offers international investors a liquid, high-governance entry point into the country’s economic recovery. • Fund Status & Targets: - Already seeded with US$ 10 Mn. - Expected inflow of US$ 25 Mn within the next 30 days. - Target Assets Under Management (AUM): US$ 100 Mn within 6–12 months. • Performance Track Record: - Building on a prior strategy that delivered USD returns of 25.60% (2025), 48.55% (2024), and 38.50% (2023). - Cumulative returns of 77.55% since December 2021, significantly outperforming the MSCI Frontier Markets Index. • Investment Strategy: - Focuses on listed equities and fixed income (Sovereign and Corporate bonds in USD/LKR). - Targets high-growth sectors: Banking, Consumer, and Export-oriented industries. - Leverages attractive equity valuations currently at ~11x price-to-earnings. • Market Outlook: - Capitalizes on Sri Lanka's economic restructuring, stable debt profile, and rebounds in Tourism and Manufacturing. - The UCITS structure provides a 30% liquidity buffer, signaling Sri Lanka's readiness to operate within international regulatory frameworks.

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Sri Lanka to Host Landmark Global Investment Forum on June 10 📈

• Event Overview: The Sri Lanka Export Development Board (EDB) has announced plans for what is expected to be the largest and most extensive investment forum in the country’s history, scheduled for June 10, 2026. • Strategic Objective: The forum aims to bring top-tier global investors to Sri Lanka to facilitate direct, face-to-face engagement with local exporters, focusing on expanding international market linkages. • Sector Impact: The initiative targets growth across key national sectors, including export manufacturing, apparel & textiles, and agricultural exports, by providing a platform for discussions on expanding export opportunities. • Key Highlights: • Expected to be the most "extensive and attractive" gathering of its kind in Sri Lanka. • Focus on strengthening global buyer-investor relationships. • Led by EDB Chairman Mangala Wijesinghe to drive long-term export sector growth. _Note: Summary based on provisional EDB announcements as of February 25, 2026._

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## Capital Alliance Lists Third Closed-End Fund on CSE 📈

Capital Alliance Investments Ltd (CALI) officially listed the units of its CAL Three Year Closed End Fund on the Colombo Stock Exchange (CSE), marking another milestone in the growth of structured investment vehicles in Sri Lanka. • Listing Details: A total of 841,263,375 units were listed following a ceremonial bell-ringing at the CSE. This follows CALI’s previous launches of the Five Year Closed End Fund (2025) and the Five Year Optimum Fund (2024). • Fund Strategy: The fund is a closed-end fixed income unit trust with a three-year tenure. It focuses on capital preservation and growth through a diversified portfolio of fixed income instruments, governed by strict internal credit filters and liquidity monitoring. • Market Context: The listing reflects rising domestic interest in unit trusts as a professional entry point for retail investors. In a stabilizing yield environment, these funds aim to provide predictable cash flow and channel national savings into productive economic activity. • Sector Impact: This development strengthens the financial services sector by expanding the range of professionally managed investment products available, supporting broader capital market development during the country’s economic recovery.

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Understanding Fixed Income: Bonds & the Sri Lankan Market 📈

A collaborative insight by CFA Society Sri Lanka, SEC, and CSE highlights the role of bonds in building resilient portfolios through stable income and risk mitigation. • Core Mechanics • Bonds act as loans to the Government or corporates in exchange for regular "coupon" (interest) payments. • Maturity periods: Short-term (<3 yrs), Medium-term (3–10 yrs), and Long-term (>10 yrs). • Secondary Market Inverse: Bond prices and interest rates move in opposite directions; falling rates boost existing bond values. • Market Instruments in Sri Lanka • Government Securities: Treasury Bills (discounted short-term) and Treasury Bonds (fixed-term) issued via CBSL. • Corporate Debentures: Companies issue debt for expansion, typically with ~5-year maturities, often listed on the CSE. • Sustainable Finance: Emerging Green, Blue, and Social Bonds (GSS+) targeting ESG-focused projects. • Yields & Risk Comparison • Historical returns (1994–2024): T-Bills averaged 11.34% with no principal loss, vs. ASPI (shares) at 14.57% with high 37.10% volatility. • Key risks: Interest rate risk, inflation risk, credit (default) risk, and liquidity risk. • Credit ratings (e.g., Fitch, Moody’s) help assess an issuer's likelihood of debt repayment. • Investment Strategy • Bonds offer predictable income and priority in liquidation over shareholders. • Recommended for diversification to offset stock market volatility, especially for conservative investors and retirees.

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## Patient Capital Rebuilding the North: $ 5M Deployed 📈

Veteran banker Rajendra Theagarajah, via the Cinnamon Global fund, has outlined a "patient-capital" model to drive sustainable wealth in Sri Lanka’s Northern Province, moving away from charity toward long-term growth. • Overall Investment & Strategy Total Deployed: Approximately US$ 5 Mn over four years. Focus: Growth-stage enterprises (not startups/seed funding). Model: Revenue-linked returns instead of traditional collateral or interest. Ticket Sizes: Typically US$ 25,000 – 50,000 per entity; largest single investment at US$ 700,000. • Sector Breakdowns & Verticals Agriculture: Focus on value addition and heritage rice (expanded to 350+ farmers). Aquaculture & Fisheries: Supporting coastal economic development. ICT/BPM: Innovative ventures to retain local talent and prevent urban migration. Logistics: Services supporting the broader regional ecosystem. • Key Impact Highlights Financial Inclusion: Transitions informal businesses into the formal banking system through governance and compliance support. Agricultural Tech: Implementation of soil mapping and AI-driven crop advisory for heritage rice. Export Potential: Targeting UK and US markets for low-glycemic rice varieties. Local Empowerment: Focus on Tamil-language engagement and grassroots trust-building to bridge knowledge gaps.

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Gold & Silver Markets Shaken by Global Crash: Implications for Sri Lanka 📈

The global financial landscape witnessed a seismic shift as gold and silver prices suffered a sharp collapse, erasing an estimated US$ 3 Trillion in market value within 90 minutes. Driven by algorithmic selling and mass profit-taking, the "flash crash" has critical repercussions for Sri Lanka’s export-driven economy. • Market Breakdown & Volatility • Gold prices plunged to approximately US$ 5,135/oz, while silver fell to nearly US$ 109/oz. • Locally, 24K gold reached a milestone of Rs. 435,050 per 8g (1 sovereign) earlier in February before the correction. • The crash was accelerated by high-frequency trading and margin calls, impacting global liquidity. • Sector Impact & Exports • Gems & Jewellery: As a net importer of gold for manufacturing, Sri Lanka faces extreme volatility in working capital and inventory valuation. However, the sector showed resilience in 2025, with Diamonds, Gems & Jewellery exports estimated to grow 46.15% YoY (reaching US$ 23.91 Mn in Dec 2025). • Apparel & Textiles: Remained the top revenue driver, earning US$ 4.9 Bn in 2025 (+5.34% YoY). • Tea: Export earnings reached US$ 1.5 Bn (+4.97% YoY) in 2025. • Economic & Policy Outlook • Total exports for 2025 reached US$ 17.25 Bn (+5.6% YoY), with a US$ 20 Bn target set for 2026. • Global volatility pressures the Sri Lankan Rupee and complicates Central Bank reserve valuations, as gold is a key component of official foreign exchange reserves. • Experts advise a shift from price speculation to margin protection and design-based value addition for local stakeholders.

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Unit Trust Industry Hits Rs. 610 Bn Asset Milestone 📈

Sri Lanka's unit trust industry recorded a strong start to 2026, with Assets Under Management (AUM) growing 6.1% YoY to surpass the Rs. 600 Bn mark by end-January. • Overall Growth: Total AUM reached Rs. 610 Bn, marking a 3.8% increase from December 2025. The industry now comprises 84 funds managed by 16 companies. • Sector Performance: • Equity-related funds were the primary driver, doubling YoY to Rs. 67 Bn and surging 10.2% in January alone. • Fixed income funds maintained steady growth, rising 2.9% YoY. • Investor Participation: The industry added 3,110 new unit holders in January (+35.0% YoY), bringing the total investor base to 147,020—a 25.7% YoY increase. The shift toward equity reflects high investor confidence in capital market performance and a strategic move toward long-term capital appreciation. The Unit Trust Association of Sri Lanka (UTASL) continues to focus on enhancing financial literacy and accessibility to further integrate retail investors into the formal economy. _Data based on UTASL January 2026 industry report._

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## 📈 Understanding Unit Trust Disclaimers in Sri Lanka

The Unit Trust Association of Sri Lanka (UTASL) clarifies that mandatory disclaimers in unit trust advertisements are designed to protect investors, not fund managers, by ensuring transparency and realistic expectations. • Core Purpose of Disclaimers Since unit trusts are market-linked—investing in government securities, bonds, and equities—returns are subject to market volatility. The SEC strictly prohibits guaranteed returns to prevent misleading investors. • Decoding Key Phrases • "Yield is variable": Indicates returns fluctuate based on interest rate shifts (for money market funds) or share price movements (for equity funds). • "Past performance is not indicative of future performance": A reminder that historical gains do not guarantee future results due to changing economic conditions. • The Role of Documentation • KIID (Key Investor Information Document): A mandatory SEC-regulated document detailing fund risks, fees, and suitability. • Fact Sheets: Provide concise, regular updates on fund performance and asset allocation. • Sector Significance Unit trusts promote financial inclusion by offering professional management and diversification to retail investors. This industry, comprising 16 licensed companies, plays a vital role in mobilizing capital for national economic growth. _Note: Information based on industry insights provided by UTASL on February 17, 2026._

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Sri Lanka Investment Forum 2026: Focusing on Green Transition & Economic Recovery 📈

The Board of Investment (BOI) is set to host the Sri Lanka Investment Forum 2026 on 30 March at Cinnamon Life, Colombo. Partnering with the EU, ADB, and ESCAP, the event aims to showcase the nation's landscape for sustainability and tech-driven growth. • Core Theme: Investing in Sri Lanka’s green and connected future, with a heavy focus on renewable energy, green finance, and economic recovery strategies. • Sector Highlights: • Manufacturing: Emphasis on value-added processing, pharmaceuticals, and industrial manufacturing. • Services: Focus on logistics, integrated warehousing, and aviation services. • Infrastructure: Opportunities in technology/innovation parks, university towns, and "cinema cities." • Leisure & Recreation: Targeted growth in nautical tourism, waterfront developments, and theme parks. • Key Features: The forum will include an exclusive EU-SL Investor Dialogue, B2B matchmaking sessions, and deep dives into green finance instruments to fund the transition. • Support: Co-funded by the European Union with strategic support from the ADB and UN ESCAP to align with international sustainability standards.

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📈 SME Forum: SEC & CSE Target Regional Business Growth

The Securities and Exchange Commission (SEC) and Colombo Stock Exchange (CSE) are hosting an issuer forum today, 13 February 2026, in Weligama. The initiative aims to bridge funding gaps for regional businesses by encouraging engagement with the capital market. • Overall Market Strength (2025): • Market Capitalisation: Exceeded Rs. 8.5 Trillion. • New Listings: 25 total (including 6 new companies raising debt and equity). • Innovative Instruments: Introduction of Blue Bonds, Green Bonds, and Sustainable Bonds. • Key Focus Areas for SMEs: • Transitioning to the Empower and Diri Savi boards for easier listing. • Strategies for succession planning, governance, and wealth management. • Reducing reliance on traditional bank credit in favor of risk capital. • Strategic Outlook: The forum highlights a shift toward broad-basing companies across Sri Lanka. By leveraging a buoyant market—noted for significant volume increases—SMEs in sectors like tourism and agribusiness can access mid-to-long term capital to catalyze expansion.

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📈 TESS Agro to Raise Rs. 250 Mn via Private Placement

TESS Agro PLC has announced a strategic shift in its funding plans, opting for a private placement of shares to raise Rs. 250 million, replacing a previously proposed debenture and warrant structure. • The Deal: The company will issue up to 125 million ordinary voting shares (approximately 18.5% of issued voting shares) at Rs. 2.00 per share. • Investor: The shares are to be issued to Oman-based SE Capital Trading SPC. • Purpose of Funds: Proceeds are earmarked for the repayment of existing borrowings, meeting working capital requirements, and funding capital expenditure. • Financial Context: As of Dec 2025, the company reported long-term borrowings of Rs. 343.3 million and short-term debt of Rs. 156 million. Net assets stood at 39 cents per share. • Market Reaction: Following the announcement, TESS Agro voting shares closed at Rs. 2.10 (down 10 cents), while non-voting shares remained unchanged at Rs. 1.50. The move is part of a broader capital restructuring for the agriculture and export sector firm and remains subject to shareholder and regulatory approvals from the CSE and SEC.

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📈 2026: A Catalyst Year for Sri Lankan IPOs

Asia Securities projects a robust phase for Initial Public Offerings (IPOs) in 2026, driven by macroeconomic stability, regulatory reforms, and favorable monetary conditions. • Market Outlook & Drivers Low interest rates are shifting funding preferences from debt to equity, offering permanent capital without debt-servicing strains. The Colombo Stock Exchange (CSE) plans a digital listing portal and a 7-day review process to expedite market entry. Secondary market liquidity and valuation benchmarks have improved following a strong recovery post-2022 crisis. • Economic Context Government Revenue has recovered to over 15% of GDP, meeting critical debt-restructuring framework targets. 2025 marked the third consecutive year of a primary surplus, with Sri Lanka outperforming IMF targets. External debt obligations are capped at under US$ 2.5 Bn per year for 2026-2027, significantly improving sustainability. • Private Sector & Investment Private sector credit growth exceeded Rs. 200 Bn per month since mid-2025, with credit-to-GDP at 31.3%. Current investment-to-GDP stands at 27%; reaching 6% economic growth requires this to hit 30-31%. Recent success: Cable Solutions Ltd (listed Aug 2024) saw its share price more than double from Rs. 7.50 to over Rs. 15. • Strategic Benefits Listings are expected to improve corporate governance and succession planning for family-owned businesses. Emphasis remains on increasing participation from State-Owned Enterprises (SOEs) and private firms to expand market capitalization.

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Awards & Recognitions

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Phoenix Ogilvy Tops 2025 Creative Rankings in Sri Lanka 📈

• Overall Achievement: Phoenix Ogilvy has been named the _2025 Sri Lanka Agency of the Year_ by Campaign Brief Asia, marking the country’s return to the regional creative rankings after a one-year absence. • Performance Metrics: The agency secured the top national spot with 295 Creative Ranking points. These points were amassed through significant wins at six major international award shows, including LIA, One Asia, Clio, AdFest, Spikes Asia, and The Work. • Individual Talent: The agency dominated the national Individual Creative Rankings. The top three spots were swept by Phoenix Ogilvy talent: Nadeera Warawita (No. 1 - 250 points) Sakuna Ranasinghe (No. 2 - 220 points) Samitha Kaushalya (No. 3 - 150 points) • Economic & Sector Impact: As a major hub in the ICT/BPM and creative services sector, the agency employs 290 industry specialists. This performance underscores the strength of Sri Lanka's intellectual capital and its ability to export high-value creative services globally. • Strategic Context: Chairman Irvin Weerackody attributed the success to a blend of global rigour and deep local intelligence, reinforcing the agency's 50-year standing as a pillar of the local marketing landscape. _Source: Campaign Brief Asia / Ogilvy Group Sri Lanka (Provisional Data)_ ---

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🏆 CEO of the Year 2025 Awards Tonight in Colombo 📈

The prestigious CEO of the Year 2025 Awards Ceremony will take place this evening, February 26, at the Cinnamon Grand Colombo. Organized by the Global CEO Forum, the event serves as a premier national platform to honor corporate leaders driving Sri Lanka’s economic stability. • Event Focus: Recognizing leadership excellence, strategic innovation, and resilience across various sectors. • Evaluation Criteria: Winners are selected through a rigorous process assessing organisational performance, governance standards, and industry impact. • Key Participants: Attendees include senior government Ministers, diplomats, and high-level corporate executives. • Economic Context: The ceremony emphasizes the role of the private sector in fostering global competitiveness and sustainable development for Sri Lanka. Strategic Highlights: • Focuses on ethical governance and innovation as core drivers of national progress. • Encourages public-private sector engagement to strengthen the country's economic resilience. _Note: Award winners will be announced during the gala ceremony._

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## Metropolitan Technologies Wins Special Category at 'The Great HR Quiz 2026' 📈

The Human Resources team of Metropolitan Technologies secured the Special Category Award at the 2026 edition of ‘The Great HR Quiz’, organized by the Chartered Institute of Personnel Management (CIPM) Sri Lanka. • Event Overview: The annual competition, held on 28 January 2026, featured over 70 leading organizations from across the island. It serves as a premier knowledge-sharing platform for HR professionals to promote excellence in people management and strategic alignment. • Sector Impact: As a key player in Sri Lanka’s ICT and technology solutions sector—holding a significant market share in hardware—Metropolitan’s win underscores the importance of a "future-ready" workforce in driving business performance. • Key Competition Results: • Overall Champion: International Distillers Ltd (IDL) • 1st Runner-Up: InQube Global (Pvt) Ltd • 2nd Runner-Up: DFCC Bank PLC • Sector Winner (Finance/Insurance): Janashakthi Group (JXG) • Strategic Significance: The 2026 quiz featured a revitalized format focusing on real-life HR scenarios and decision-making. The achievement reflects Metropolitan's commitment to high standards in human resource management, essential for sustaining its leadership in the local technology landscape. _Note: Results are based on the latest industry data from the CIPM 2026 event cycle._

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SLIM Effie Awards 2025 Grand Finale Set for March 3 📈

The Sri Lanka Institute of Marketing (SLIM) will host the Grand Finale of the SLIM Effie Awards 2025, celebrating the country’s most impactful marketing and advertising campaigns. • Event Details: Scheduled for March 3, 2026, at Monarch Imperial, Thalawathugoda, starting at 5:30 p.m. • Core Focus: Recognition of campaigns that demonstrate strategic insight, creative excellence, and measurable business results within the marketing and advertising sector. • Industry Significance: The SLIM Effie Awards serve as a global benchmark for marketing effectiveness, aimed at elevating industry standards and positioning Sri Lankan marketers on a global platform. • Participation: The event will convene key stakeholders, including leading brands, advertising agencies, and media partners, highlighting the resilience and innovation of the local marketing community. Based on official event announcement data. 🇱🇰

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Finalists Announced for CFA Institute Research Challenge Sri Lanka 2025/26 📈

The CFA Society Sri Lanka has revealed the top four university teams qualifying for the local finals of the prestigious global equity research competition. • Finalist Teams: - University of Kelaniya - SAB Campus CA Sri Lanka - University of Sri Jayewardenepura - University of Colombo • Key Details: - Subject Company: Digital Mobility Solutions Lanka Ltd. (PickMe) - Local Finals: Scheduled for 27 February 2026 at the HNB Auditorium, Colombo. - Objective: Teams will present equity research, financial modeling, and investment recommendations to a panel of investment community experts. • Strategic Impact: - Supported by the Colombo Stock Exchange (CSE) as Platinum Partner and HNB PLC as Banking Partner. - Focuses on strengthening capital market knowledge, analytical thinking, and ethical standards among the next generation of finance professionals. - The local winner will advance to the sub-regional competition, aiming for the Global Final in Hong Kong. • Sector Significance: - Vital for developing skilled human capital in financial services and equity research, essential for the long-term resilience of Sri Lanka’s financial ecosystem.

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Sri Lankan Scientist Wins Global 2026 OWSD-Elsevier Energy Award 📈

• Duleeka Sandamali Gunarathne from Sri Lanka has been named one of five winners of the 2026 OWSD-Elsevier Foundation Award for Early-Career Women Scientists in the Developing World. • The award recognizes her visionary leadership and research in Engineering Sciences, specifically focusing on advancing UN Sustainable Development Goal (SDG) 7: ensuring access to affordable, reliable, and sustainable energy. • Key Highlights: • Recognized for "transforming communities" through innovations in the sustainable energy sector. • One of only five global recipients selected from the Global South (alongside winners from Guatemala, Syria, Kenya, and Togo). • The award includes a cash prize of US$ 5,000 and a travel grant for an international conference to support professional growth. • Economic Impact: • Since 2013, this program has recognized 84 scientists across 38 countries, positioning winners as key role models for ICT/BPM and Engineering leadership. • Gunarathne’s achievement highlights Sri Lanka’s growing intellectual capital in renewable energy and sustainable technology, vital for long-term national energy security and professional services exports. • Awarded by the Organization for Women in Science for the Developing World (OWSD) and the Elsevier Foundation ahead of International Women’s Day.

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### Ven. Dr. Kirinde Assaji Honored with Lifetime Achievement Award in India 📈

• Event: Gangaramaya Temple Chief Incumbent Ven. Dr. Kirinde Assaji has been conferred the Lifetime Achievement Award by KITT University, India. This marks the first time a Sri Lankan has received this prestigious honor. • Significance: The award recognizes exceptional contributions to Buddhist scholarship, spiritual leadership, and the strengthening of Sri Lanka–India cultural relations. Previous recipients include eminent figures such as former Indian President Pranab Mukherjee. • Bilateral Impact: • Highlights the role of religious diplomacy in enhancing regional harmony and mutual cooperation. • Commemorates milestones such as the 2017 State Vesak Ceremony attended by PM Narendra Modi and the historic exposition of Indian Buddhist Relics at Gangaramaya. • Reinforces academic ties, as Ven. Dr. Assaji is an alumnus of the University of Delhi (MA and PhD). • Context: This recognition underscores the strategic importance of cultural and religious ties in the broader Sri Lanka–India partnership, fostering long-term bilateral stability and mutual respect. ---

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SLASSCOM Launches 2026 National Ingenuity Awards to Drive $5B Innovation Goal 📈

The Sri Lanka Association for Software and Services Companies (SLASSCOM) has officially opened applications for the 8th edition of the SLASSCOM National Ingenuity Awards (SNIA) 2026. The initiative aligns with the national target of building a US$ 5.00 Bn knowledge and innovation economy by 2030. • Core Objective: To transition Sri Lanka from service delivery toward high-value, product-driven growth and global intellectual property (IP) ownership. • Key Sectors: Awards cover Fintech, Agritech, Healthtech, Edutech, Manufacturing, Logistics, and Retail. • Eligibility: Open to Sri Lankan corporates, ICT/BPM startups (est. after Jan 2022), university undergraduates, and school students (Grade 9+). • Special Categories: Includes Woman Technopreneur of the Year, Tech-for-Good, and Innovation in RPA (Robotic Process Automation). • Timeline: Applications are open until 15 March 2026 via the official portal. The awards aim to improve Sri Lanka's Innovation Index by recognizing scalable, homegrown solutions with significant economic and societal impact. 🇱🇰

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Sri Lanka’s Mirissa and Bentota Ranked Among Asia’s Top 10 Beaches 📈

Sri Lanka’s tourism sector receives a significant global boost as two coastal destinations are recognized in the 2026 Tripadvisor Travelers’ Choice Awards "Best of the Best" list. • Key Rankings: Mirissa Beach secured the 5th position in Asia, while Bentota Beach followed at 7th. Both destinations are among the top 1% of over eight million global listings based on traveler reviews over a 12-month period. • Sector Highlights: • Mirissa Beach: Recognized for its appeal to both relaxation and adventure tourism, featuring calm swimming areas, the "Mirissa Right" surfing break, and the iconic Coconut Tree Hill. • Bentota Beach: Noted for its strength in the water sports niche, specifically jet skiing and kitesurfing, complemented by its soft white sands and sunset views. • Regional Context: Sri Lanka is the only country alongside India and Thailand to have multiple entries in Asia’s Top 10. The top spot was claimed by Banana Beach in Phuket, Thailand. • Economic Impact: These accolades reinforce Sri Lanka's position as a premier leisure destination, critical for driving foreign exchange earnings and supporting local employment in the hospitality and food & beverage industries. _Data based on 2026 Tripadvisor Travelers’ Choice Awards._

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### Radisson Hotels Sri Lanka Sweeps MMT Awards 📈

Radisson Blu Resort Galle, Radisson Hotel Kandy, and Radisson Hotel Colombo have been honored with prestigious awards from MakeMyTrip (MMT). The recognition highlights excellence in service quality, traveler trust, and guest satisfaction across the group's Sri Lankan portfolio. Performance Highlights The awards follow a period of exceptional commercial growth for the properties, all operating under Sino Lanka Hotels Holdings Ltd: • Radisson Blu Resort Galle: Achieved a massive 300% production growth. • Radisson Hotel Kandy: Delivered 200% production growth. • Radisson Hotel Colombo: Recorded 175% production growth. Sector Impact The growth underscores the rising demand for hospitality and tourism in Sri Lanka, particularly through international online travel platforms. By maintaining global standards, these hotels contribute significantly to the country's brand credibility and regional competitiveness. Strategic Focus The group continues to prioritize: • Sustainable growth and international service benchmarks. • Diversified experiences across oceanfront, hill-country, and urban settings. • Strengthening Sri Lanka’s profile as a preferred destination for global travelers.

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📈 People’s Bank Crowns ‘BizTeen’ 2025 Winners & Launches Youth Banking

People's Bank, in partnership with the Industrial Development Board (IDB), concluded the ‘BizTeen’ Entrepreneurship Challenge 2025, aimed at fostering entrepreneurial thinking and SME development among school students nationwide. • Competition Highlights: • Organized under the National School Industry Entrepreneurship Circles Programme involving the Ministries of Industry and Education. • Evaluated via business proposals and national-level presentations. • 13 national winners selected for innovation and business potential. • Top Award Recipients: • 1st Place: W.K. Vinuka Yasith (Urubokka National School) – LKR 250,000. • 2nd Place: Dasini Sanupama Karunathilaka (Anuradhapura Central College) – LKR 150,000. • 3rd Place: K.D. Nethmi Prarthana Dissanayaka (Thalawa Maha Vidyalaya) – LKR 100,000. • Merit: 10 students received LKR 25,000 each to support their concepts. • New Financial Product: • Launch of 'People’s YES TEEN', a dedicated banking solution for ages 13–18. • Features a branded debit card with a LKR 20,000 daily transaction limit. • Focuses on financial literacy and discipline by balancing parental oversight with digital banking independence. • Strategic Impact: This initiative strengthens the human capital pipeline for Sri Lanka’s future startup ecosystem and encourages financial inclusion from an early age.

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IDL Crowned Champions at CIPM Great HR Quiz 2026 📈

International Distillers Ltd. (IDL) emerged as the overall winner of the 2026 Great HR Quiz organized by the Chartered Institute of Personnel Management (CIPM) Sri Lanka. In its debut appearance, IDL outperformed 74 other teams from various industries, securing both the Overall Championship and the sector award for Food, Beverage, and Distilleries. The 2026 competition featured a revamped format focusing on strategic thinking, decision-making, and problem-solving across the employee life cycle rather than simple knowledge-based queries. The winning IDL team included Hansanie Illangakoon, Chaminda de Seram, Prasad Gunathilaka, and Ashan Maraweerahewa. IDL, established in 1980, is currently Sri Lanka’s largest locally manufactured foreign liquor producer, with a growing export footprint in Europe, Australia, Japan, and North America. This victory highlights the sector's shift toward world-class people management and strategic HR as key drivers of competitive advantage in the local manufacturing landscape.

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**Politics & Government Impact**

## Former SIS Chief Suresh Sallay Arrested Over Easter Attacks 📈

The Criminal Investigation Department (CID) has arrested former State Intelligence Service (SIS) Chief Major General (Retd.) Suresh Sallay in connection with the 2019 Easter Sunday terror attacks. This marks a high-profile development in the investigation of the bombings that killed 279 people and severely impacted the tourism sector. • Arrest & Detention Details Custody: Arrested in Peliyagoda by the CID under the Prevention of Terrorism Act (PTA). Detention: Authorized for a 72-hour period for interrogation regarding conspiracy and aiding/abetting. Evidence: Authorities cite "adequate evidence" emerging from ongoing probes into the April 21, 2019, coordinated bombings. • Background & Context Career Path: Served as Director of Army Intelligence, then SIS Chief (2019–2024). He most recently served as an adviser at the Sri Lankan High Commission in Malaysia. Allegations: Previously linked to the plot by whistleblowers in international documentaries, though he has consistently denied all involvement. Political Significance: This is the most significant arrest since President Anura Kumara Dissanayake took office, following pledges to expedite justice for victims. • Economic & Social Impact National Security: The move is seen as a major breakthrough in addressing the complexities of the attacks beyond the immediate suicide bombers. Tourism Recovery: Resolving the investigation remains critical for long-term stability in the hospitality and travel industries, which saw a sharp decline following the 2019 events. _Summary based on provisional police reports and current media disclosures._

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🤝 India Reaffirms Strategic Partnership with JVP Delegation

Key Interaction: Indian External Affairs Minister Dr. S. Jaishankar met with JVP General Secretary Tilvin Silva to discuss strengthening bilateral ties and regional cooperation. Strategic Support: India reaffirmed its role as a "true and trusted partner," citing its consistent support during Sri Lanka’s recent economic crisis and humanitarian assistance following Cyclone Ditwah. Development Focus: The dialogue centered on growth opportunities, social welfare initiatives, and inclusive development, aligning with Sri Lanka’s ongoing recovery efforts. Regional Context: The meeting highlights continued high-level engagement between New Delhi and Colombo across political and economic sectors to bolster regional partnerships.

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Startups & Entrepreneurship

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## Bluechip Technologies Asia Joins SolarX APAC Program 📈

Sri Lankan-based Bluechip Technologies Asia participated in the SolarX Startup Challenge APAC Acceleration Program in Singapore (Feb 4–6), focusing on scaling clean-energy innovations across the region. • Program Overview: Hosted by the International Solar Alliance (ISA), the event brought together 14 winning startups to pitch solar-based solutions to global investors and innovation leaders. • Sector Focus: The company explored AI-driven technology collaborations, specifically targeting: Smart Analytics: Enhancing renewable energy efficiency. Forecasting: Improving power grid predictability. Decision-Support: Optimizing clean-energy resource management. • Economic Impact: This engagement highlights the growing role of the Sri Lankan ICT/BPM sector in the global renewable energy transition through cross-border collaboration and advanced AI applications. • Strategic Outcome: The program emphasized investment readiness and business scalability, positioning clean-tech as a vital vertical for digital export growth.

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## 📈 Entrepreneurship & Capital Reinvestment: Keys to National Wealth

At a recent Ambeon Securities forum, LAUGFS Holdings Chairman Dr. W.K.H. Wegapitiya emphasized that Sri Lanka’s economic recovery hinges on shifting from a "nation of employees" to a culture of entrepreneurship and capital formation. • Wealth Gap & Growth: In 1950, Sri Lanka’s national wealth was US$ 1.4 Bn (2nd in Asia). Today, GDP stands at approx. US$ 84 Bn (90th rank), while peers like Taiwan have scaled to nearly US$ 1 Tn by prioritizing private capital and manufacturing. • The Profit-to-Capital Formula: Wegapitiya argued that "profit is not a crime" but a prerequisite for investment. Economic stagnation stems from social pressures and price controls that drain corporate earnings before they can be converted into productive capital. • Strategic High-Growth Sectors: To drive future GDP, focus must shift toward: Agriculture: Target to increase GDP contribution from 10% to 36% via processing and value addition. Healthcare & Pharmaceuticals: Vital due to aging demographics (25% of population over 60 by 2030). Manufacturing: Leveraging local natural resources to ensure stable, non-volatile economic growth. Services: High potential in equity investments and financial markets. • Current Outlook: The current fiscal environment is described as the "most conducive in five years." Experts suggest moving away from low-yield savings toward equity markets for long-term capital appreciation. • Key Constraints: • Only 2% of the workforce is entrepreneurially oriented. • Need for policy consistency and dedicated development financing.

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📈 Sri Lankan Tech Giant Fcode Labs Invests in German Coffee Startup

Sri Lanka-based ICT/BPM powerhouse Fcode Labs has announced a strategic investment in Bunamo, a Germany-based digital platform for the global coffee community. This move reinforces Sri Lanka’s growing footprint in the European tech ecosystem. • The Partnership: Beyond capital, Fcode Labs is the primary engineering partner, responsible for the platform's scalable architecture and user-centered design. • Product Scope: The platform connects home baristas, professional roasters, and brands, featuring content-driven interactions like recipe sharing and brand exploration. • Strategic Impact: This collaboration highlights the export of Sri Lankan software engineering expertise, helping European startups transition from concept to production-ready platforms. • Regional Focus: Built on a cloud-ready foundation, the platform is positioned for rapid expansion across Europe and international markets. _“Our decision was driven by the fast-growing coffee community globally,”_ stated Fcode Labs Co-CEO Buddhishan Manamperi, noting the investment aligns with their mission to back global innovation through Sri Lankan technical talent.

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## 📈 ZKTOR Enters Beta in Sri Lanka: A Shift Toward Digital Sovereignty

The South Asian social media platform ZKTOR has officially entered its beta phase in Sri Lanka. Developed by Softa Technologies Ltd., the platform prioritizes digital sovereignty, privacy, and user dignity over traditional data-driven models. • Core Technology & Architecture Zero-Knowledge Principles: System architecture ensures user activity and behavioral data are inaccessible to everyone, including platform administrators. Privacy by Design: Features include multi-layer encryption and a "no-extraction" media framework that prevents unauthorized downloading of personal content. Geographically Bounded Data: All data remains within regional borders, addressing concerns regarding external data extraction and foreign control. • Governance & Independence Zero External Funding: The platform has been developed without venture capital or government grants to maintain governance integrity and avoid investor-driven data policies. Strategic Leadership: Led by Chief Architect Sunil Kumar Singh, the design incorporates Nordic principles of digital trust and restraint adapted for South Asian linguistic and cultural diversity. • Socio-Economic Impact Digital Safety: Built-in safeguards specifically target online harm and misinformation affecting women and youth. Local Ecosystem: The operating model prioritizes local technical roles and moderation, fostering youth employment in the ICT/BPM sector without exporting regional data.

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📈 BOC Targets 2,000 Entrepreneurs via Beyond Banking Initiative

The Bank of Ceylon (BOC) is scaling its Entrepreneur Development Program (EDP) to strengthen Sri Lanka’s SME sector. Following the successful revival of nearly 700 distressed businesses, the bank is shifting focus from reactive support to proactive capacity building. • Overall Targets: BOC aims to train 1,500 to 2,000 entrepreneurs from 2026 onwards. The program is free of charge and open to both BOC and non-BOC customers. • Participant Profile: Focuses on SME owners aged 18–45 with annual turnovers between Rs. 5 million and Rs. 50 million. • Sector Breakdown: Participants are primarily drawn from high-potential and core areas: • Manufacturing & Export sectors. • ICT/BPM (IT services). • Agriculture. • Key Knowledge Areas: Training covers financial discipline, cash flow management, digital marketing, supply chain, and taxation. While non-financial, the program guides SMEs on accessing concessionary loan schemes and collateral-free facilities. • Support Model: A dedicated panel of bank experts provides ongoing mentorship via a WhatsApp-based community, ensuring long-term business sustainability and employment stability.

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Sri Lanka’s SME Financing Gap: Bridging the Venture Capital Divide 📈

Small and Medium Enterprises (SMEs) remain the backbone of the Sri Lankan economy, yet a significant "financing gap" persists for those deemed too large for microfinance but too traditional for venture capital. • Overall Figures & Economic Impact: SMEs account for over 75% of all Sri Lankan businesses, contributing 52% to the national GDP and providing 45% of total employment. Despite this, they face a staggering NPL stock valued at approximately Rs. 680 Bn following recent economic shocks. • Sector & Regional Breakdown: Venture capital remains heavily concentrated in ICT/BPM and tech-driven startups in urban Colombo. In contrast, SMEs in agriculture, manufacturing, and traditional services—especially in rural regions—are often excluded due to a lack of scalability or geographical bias. • Financing Challenges: Access to bank finance is stifled by high interest rates and rigid collateral requirements. Current SME lending rates remain a hurdle, though the Budget 2026 has proposed a Rs. 7.7 Bn allocation for concessionary loan schemes with interest rates as low as 5% for certain agricultural segments. • Proposed Solutions: Experts suggest a shift toward angel investors, impact funds, and regional venture plans. The government is also consolidating support agencies (IDB, NEDA, SMED) to streamline assistance and bridge the equity gap for the "underserved majority." _Note: Summary based on provisional 2025/2026 market data and recent budget proposals._

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📈 AI Funding Surge Targets Blue-Collar Automation

A significant shift in AI investment is targeting physical environments, potentially extending automation risks to traditionally manual sectors. Startups are raising billions to develop "software brains" for robots capable of navigating complex, real-world settings. • Investment Highlights: Toronto-based Waabi raised up to US$ 1 Bn for autonomous transport, marking a record Canadian startup round. Skild AI (Pittsburgh) secured ~US$ 1.4 Bn at a US$ 14 Bn valuation, while Field AI raised nearly US$ 400 Mn for hazardous sectors. • Sector Impact: Automation is moving beyond white-collar tasks toward logistics, construction, energy, and food preparation. Key applications include plumbing, welding, and vehicle repairs by robots that understand physics and varying physical conditions. • Strategic Approaches: Developers are split between using vast real-world data and "world models" (simulated environments incorporating gravity and physics). The latter is championed by AMI Labs, a new venture by former Meta AI lead Yann LeCun. • Economic Implications: While hardware costs and transition expenses may slow immediate adoption, the shift poses long-term questions for labor-intensive industries. For an economy like Sri Lanka, this trend highlights the future importance of ICT/BPM integration within manufacturing and logistics to maintain global competitiveness.

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Product & Service Launches / Business Expansion

**Product & Service Launches / Business Expansions**

United Tractors & Equipment Wins Rs. 1.4 Bn Motor Grader Tender 📈

• Overall Deal: The Cabinet of Ministers has officially approved a contract worth Rs. 1,424.25 million (excluding VAT) for the procurement of 75 motor graders. • Winning Bidder: United Tractors & Equipment (Private) Limited secured the tender following a National Competitive Bidding process, beating out four other submitted bids. • Strategic Context: The machinery is designated for use in government development programmes, signaling a continued focus on infrastructure development and construction sectors. • Procurement Process: The bid was evaluated by the High-Level Standing Procurement Committee and presented by the President in his capacity as the Minister of Finance, Planning, and Economic Development. • Status: Approved (based on cabinet meeting proceedings from October 2025 and finalized February 2026).

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HNB & CARMART Partner to Boost Peugeot and LEAP Vehicle Leasing 📈

• Strategic Alliance: HNB PLC has signed a Memorandum of Understanding (MoU) with CARMART Ltd to provide specialized leasing solutions for globally recognized Peugeot and LEAP vehicle brands. • Digital & Physical Integration: The partnership leverages the Carmart.lk platform, merging digital vehicle discovery with HNB’s financing expertise to streamline the customer journey for Sri Lankan buyers. • Key Offerings: • Tailored leasing packages designed for both individual and family mobility needs. • Focus on financial efficiency and flexibility to enhance vehicle ownership accessibility. • Integration of CARMART's automotive marketplace with HNB's retail banking network. • Economic Impact: The collaboration aims to support economic participation by providing flexible financial solutions for premium mobility, helping customers maintain quality lifestyles while achieving mobility goals. _Note: Summary based on latest partnership announcement._

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Uncategorized

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## ⛈️ Landslide Red Alert Issued for Four Districts Following Heavy Rainfall

The National Building Research Organisation (NBRO) has issued a Level 3 (Red) evacuation notice effective until 8:30 a.m. today (Feb 23), following intense rainfall exceeding 150mm within 24 hours. • High-Risk Zones (Red Alert): Immediate evacuation ordered for specific areas in Kandy (Yatinuwara, Doluwa), Kegalle (Aranayaka, Mawanella, Dehiowita), Matale (Rattota, Laggala), and Ratnapura. • Extended Warnings: Level 2 (Amber) and Level 1 (Yellow) alerts remain active for Badulla, Nuwara Eliya, Galle, Kurunegala, and Monaragala as heavy rains persist. • Economic & Safety Impact: Disruptions to plantation sector logistics and rural infrastructure are likely. Residents are advised to monitor for soil cracks, leaning utility poles, and sudden water flow changes near steep slopes. • Current Status: Based on provisional data from the NBRO; disaster management officials urge strict adherence to evacuation protocols to mitigate risks of slope failures and rock falls. 📈 ---

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Major Arrest in Akuregoda Double Murder Case ⚖️

Police have arrested a 46-year-old former Army soldier in connection with the fatal shooting of a lawyer and his wife in Akuregoda. This marks a significant development in the investigation into the February 13th attack. • Suspect Profile: The individual, a resident of Beruwala, legally discharged from the Army in 2009. He was apprehended in the Ambalangoda area by the Homagama Divisional Crime Investigation Unit. • Evidence Recovered: A mobile phone allegedly used for planning or executing the crime was seized during the arrest. • Case Context: The victims were killed inside their vehicle by two gunmen in a separate car. This arrest follows the previous detention of three other suspects accused of conspiracy and assistance in the Kottawa, Athurugiriya, and Kahathuduwa areas. • Legal Proceedings: The suspect is being interrogated by the Western Province South Crime Division and will be produced before the Kaduwela Magistrate’s Court.

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35 Years Since Northern Muslim Displacement: A Path to Reconciliation 📈

A commemorative event, “Memories of the North,” was held at the Sri Lanka Girl Guides Association in Colombo to reflect on the forcible eviction of the Northern Muslim community in October 1990. The event, featuring a documentary and photography exhibition, marks a significant step in post-war reflection and coexistence. • Historical Context (1990 Displacement) Roughly 75,000 Muslims were forced to leave the Northern Province by the LTTE within 48 hours. Evictees were stripped of belongings; many left with only the clothes they wore and minimal cash (approx. Rs. 150–3,000). Displaced families from districts like Mannar, Jaffna, and Kilinochchi faced hazardous journeys by boat to Puttalam and Kalpitiya during heavy rains. • Current Resettlement Status (as of Feb 2026) Housing & Land: A critical issue remains as many families still lack permanent housing and land deeds. New Housing Phase: The government has allocated Rs. 2,726 Mn to construct 1,363 houses in the Northern Province as part of a 7,306-unit requirement. Investment: Allocation stands at Rs. 2 Mn per house, with a 6-month completion target for the first phase. • Key Reconciliation Asks Official Apology: Activists and the NECC emphasize that a formal apology is fundamental to healing. Livelihood Support: Beyond housing, there is an urgent need for ICT/BPM and agricultural integration for the younger generation to prevent further economic marginalization. Digital Archiving: Plans are underway to create a virtual archive to preserve the history of Tamil-Muslim coexistence prior to the 1990 conflict.

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### 🏛️ Restoring National History: A Strategic Investment for Sri Lanka

• Core Policy Proposal Policymakers and educators are urged to restore history to a central role in the education sector. The move aims to counter a perceived weakening of national consciousness and patriotism among the younger generation, viewing historical awareness as a "strategic national investment" rather than just an academic subject. • Economic & Social Implications A nation’s future is defined not only by its ICT/BPM progress or economic policies but by its collective memory. The data suggests that historical ignorance leads to fragmentation and vulnerability to external manipulation, which can undermine long-term national stability and sovereign development. • Key Historical Pillars Hydraulic Civilization: Lessons from King Parakramabahu’s water management highlight ancient "sustainable development" and ecological intelligence. Governance & Justice: Historical figures like King Elara and King Dutugemunu serve as models for the rule of law and ethical leadership. Ethical Foundations: The arrival of Buddhism is credited with shaping the nation's approach to social harmony and conflict resolution. • Global & Modern Context International Benchmarks: Success stories from Germany, Japan, and India show how national identity drives economic and scientific progress. Modern Resilience: Teaching recent history, including the defeat of terrorism and the 2004 Tsunami response, is vital for building a socially responsible and resilient citizenry. • Current Status Based on the published commentary, there is a "dire need" for curriculum reform to ensure the next generation understands that independence and freedoms were hard-won achievements, essential for preserving Sri Lanka's value systems against "erosion and corrosion."

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📈 9th Edition of Colomboscope Opens with ‘Rhythm Alliances’

Sri Lanka’s premier contemporary arts festival, Colomboscope, has launched its 2026 edition, positioning the island as a growing hub for art tourism and the creative economy. The 9th edition, titled ‘Rhythm Alliances’, brings together over 50 artists to explore sound as a tool for cultural expression and social resistance. • Scale & Reach: Featuring 50+ musicians, filmmakers, and choreographers. The festival includes 35 newly commissioned projects, emphasizing the role of the ICT/BPM and creative sectors in high-value cultural exports. • Economic Context: While the creative economy remains largely untapped in Sri Lanka, events like Colomboscope drive urban footfall and support local hospitality and retail sectors through interdisciplinary public programs. • Sector Highlights: • Traditional Arts: Focus on ritualistic drumming and healing rites as enduring forms of knowledge. • Sustainability: Venues like Soul Studio highlight the intersection of sustainable manufacturing and contemporary design. • Tourism: Positioning Colombo as a regional arts destination alongside global peers like the Sharjah Biennial to attract high-spending cultural travelers. • Key Venues: Programs are spread across 8 city locations, including Barefoot Gallery, BMICH, and Scope Cinemas, facilitating broad public access and community engagement. _Note: Based on inaugural reporting; economic impact figures typically follow post-festival assessments._

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OBITUARY: Media Professional Marian Candappa Passes Away 🕊️

• Industry Impact: Marian J. Rodrigo Candappa, a veteran of the Sri Lankan media landscape, has passed away. Her professional career was notably spent with major publishing houses Virakesari and Wijeya Newspapers, contributing to the country's Information & Media sector. • Community & Social Roles: Beyond her professional life, she was a prominent figure in civil society, holding active memberships in the Lions Club, the Colombo Chetty Association, and the Parish of Kotahena. • Final Rites: • The remains will lie at Lanka Florists, Punchi Borella, today (Feb 3) from 9:00 a.m. to 3:00 p.m. • Cremation is scheduled for 4:00 p.m. at the Old Crematorium, General Cemetery Kanatte. • Legacy: As the relict of the late Modestus Candappa, her passing marks the loss of a figure connected to the long-standing traditions of the Sri Lankan newspaper and printing industry.

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48th Navam Maha Perahera Bolsters Colombo’s Tourism Activity 📈

The 48th Annual Navam Maha Perahera of the Hunupitiya Gangaramaya Temple concluded yesterday in Colombo, serving as a significant driver for the capital's cultural tourism and activity economy. The two-day procession (Jan 31 – Feb 1) drew massive crowds, including high-profile state officials and foreign visitors, highlighting its role in the national tourism calendar. • Overall Impact: The event acts as a critical "growth lever" for Colombo’s urban economy during the first quarter, traditionally a high-traffic period for international arrivals. With Sri Lanka targeting 3 million tourists and US$ 4.30 Bn in revenue for 2026, such large-scale cultural events are vital for reaching these milestones. • Sector Highlights: • Tourism & Hospitality: Attracted thousands of foreign spectators, boosting occupancy for Colombo-based hotels and informal accommodation sectors. • Handicrafts & Traditional Arts: Provided a commercial platform for hundreds of traditional dancers, drummers, and artisans, supporting rural livelihoods through cultural preservation. • Transport & Services: High domestic and international footfall stimulated local transport and retail activity in the Western Province, the nation's primary economic hub. • Patronage: The event saw bipartisan attendance, including Prime Minister Dr. Harini Amarasuriya and former Presidents, signaling strong institutional support for the creative economy and religious heritage.

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Sri Lanka's Economic Resilience: The Case for Comprehensive Sex Education 📈

The recent focus on systemic gaps in Sri Lanka's education highlights a critical need for Comprehensive Sex Education (CSE) to safeguard social and economic stability. Addressing these gaps is framed as a long-term investment in human capital. • Systemic Gaps & Productivity: Taboos surrounding reproductive health contribute to school absenteeism (up to 50% in certain regions due to period poverty) and poor health outcomes, directly impacting future workforce participation. • Legal & Social Literacy: Education on consent and legal boundaries is vital to navigate power dynamics in Sri Lanka’s hierarchical society, aiming to reduce the rising cases of child abuse and youth HIV infections (104 cases in 2023). • Sector Impact: • Healthcare: Improved literacy reduces the economic burden of reproductive disorders and unplanned pregnancies. • Labour Force: Empowering the youth (approx. 5.2 Mn by 2032) with informed decision-making skills is essential for national development. • Provisional Data Highlights: • Only 0.4% of surveyed adolescents demonstrate satisfactory reproductive health knowledge. • 50% of households face period poverty, affecting female education and economic mobility. • CSE is recognized as a "cost-effective" intervention by the UNFPA to bridge the 30–35% stagnation in female labour force participation.

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📈 Sri Lanka: Addressing the Growing Crisis of Sexual Violence

A recent judicial decision dismissing an appeal by a man convicted of raping a 15-year-old girl has brought renewed focus to the rising incidence of sexual violence in Sri Lanka. The case highlights a systemic crisis where social silence often empowers offenders. • Overall Trends: Reports of sexual violence continue to rise across the country, with a high concentration of cases involving minors. A 2026 UN report highlights that a legacy of impunity and the failure to address harmful attitudes have led to a "climate of fear," with many cases remaining unreported due to social stigma. • Sector & Social Factors: • Education & Awareness: Lack of proper education on consent and gender equality is cited as a primary driver for dangerous misconceptions. • Social Influences: Factors compounding the crisis include substance abuse and exposure to violent content. • Impact on Human Capital: Trauma from survivors significantly hinders national employment and education outcomes, as victims face lifelong mental and emotional health challenges. • Global Comparison & Legal Gaps: • Singapore: Utilizes strict laws including long prison sentences, strokes of the cane, and professional reassessment of offenders before release. • Sri Lanka: Faces urgent calls for faster legal processes and stronger enforcement. Current legal obstacles include a 20-year statute of limitations and the lack of legal recognition for the rape of men (based on UN monitoring data). • Provisional Outlook: While the dismissal of recent appeals sends a message of zero tolerance, experts emphasize that prevention through community and religious leadership, along with parent-led education on boundaries, is essential for a sustainable solution.

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Political & Government Impact

COYLE Hosts G20 Young Entrepreneurs’ Alliance (G20 YEA) Leadership Assembly 📈

The Chamber of Lankan Entrepreneurs (COYLE) successfully concluded a five-day G20 YEA Leadership Assembly in Colombo, marking a significant milestone for Sri Lanka’s global economic integration. • Strategic Impact: Representing over 500,000 young entrepreneurs globally, the assembly focused on cross-border collaboration and high-level policy advocacy to bridge local innovation with the global G20 policy circle. • Key Engagements: Infrastructure: Delegates toured the Colombo Port City to assess its potential as a premier Special Economic Zone (SEZ) for global trade. Government Relations: Discussions held with the Ministry of Industries focused on legislative frameworks to support startup ecosystems and regional economic stability. Policy Advocacy: The G20 YEA Communiqué was handed to Foreign Minister Vijitha Herath, outlining recommendations for digital transformation, inclusive growth, and sustainable entrepreneurship. • Economic Objectives: The summit aimed to position Colombo as a burgeoning hub for international business while advocating for the removal of trade barriers and expanding access to capital for young founders. • Global Connectivity: Since joining the Alliance in 2024, COYLE has leveraged this platform to integrate Sri Lankan enterprise into the national and international economic agendas, fostering long-term bilateral ties through a high-profile Diplomats’ Evening. _Source: Based on reporting from February 20, 2026._

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**Appointments & Executive Moves**

📈 SriLankan Airlines: Restructuring & Leadership Update

The NPP administration has reaffirmed its decision to maintain SriLankan Airlines under State ownership, despite its long-standing status as a significant fiscal burden. The government is currently navigating a critical financial restructuring while searching for a new CEO to steer the crisis-ridden national carrier. • Financial Performance & Debt • Accumulated Losses: Total losses have reached a staggering Rs. 628.3 Bn (provisional data suggests this increased to Rs. 631.5 Bn by late 2025). • Quarterly Loss: The group reported a loss of Rs. 10.7 Bn for the three months ending June 2025. • State Support: The 2025 Budget allocated Rs. 20 Bn for debt servicing. The Treasury plans a Rs. 100 Bn equity injection over five years to restructure the airline's debt. • Capital Infusion: A recent Rs. 25.2 Bn capital infusion (Dec 2025) was utilized to clear outstanding state bank debt. • Leadership Transition • CEO Search: Received 200 applications for the CEO post, with 75 candidates currently shortlisted. • Criteria: The government seeks a "visionary leader" with 10+ years of senior international airline management experience. • Current Debate: Discussions continue on whether to appoint a foreign expert (like former CEOs Richard Nuttall or Peter Hill) for objectivity or a local professional to ensure national interest and cost-efficiency. • Regional Context • Unlike Sri Lanka’s state-led approach, neighboring nations are divesting: Air India was reacquired by Tata Group, and Pakistan recently privatized Pakistan International Airlines.

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**Industry & Sector News**

**Global & International Business**

Sri Lanka Boosts Global Export Profile at Ambiente Frankfurt 2026 📈

Sri Lanka successfully concluded its participation at the world’s leading consumer goods trade fair in Germany, securing high-quality inquiries and potential export partnerships across diverse sectors. • Overall Impact: Six major Sri Lankan exhibitors joined over 4,600 global participants from 170 regions, showcasing the island’s design and manufacturing expertise to an international audience. • Sector Highlights: • Porcelain: Dankotuwa Porcelain showcased world-class dinnerware, reinforcing Sri Lanka’s reputation for premium ceramics. • Handicrafts: Gospel House Handicrafts and Art Decoration International featured sustainable, fair-trade wooden toys and creative crafts. • Home & Living: Phoenix Industries reported strong interest from new markets, highlighting the demand for innovative plastic and household solutions. • Stationery & Office: The Paperworld segment saw increased engagement for Javana Graphics and AMP Ceylon, opening doors to emerging global markets. • Strategic Value: Participation reinforced Sri Lanka's commitment to sustainability and design-led diversification, essential for reaching the national target of US$ 36 Bn in exports by 2030. • Key Exhibitors: Dankotuwa Porcelain, Gospel House Handicrafts, AMP Ceylon, Art Decoration International, Javana Graphics, and Phoenix Industries. _Summary based on official participation reports from Frankfurt._

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**Corporate News** ### Reasoning: 1. **Main Subject:** Janashakthi Insurance PLC (a specific company). 2. **Primary Action:** A **1:3 share split** (also known as a subdivision of shares). 3. **Category Fit:** Share splits are fundamental **corporate actions** decided by a company's Board of Directors. According to the predefined categories, "Corporate News" specifically includes corporate strategy, governance, and structural changes like restructuring or spin-offs. Since this is an internal administrative change to the company’s share structure—affecting the number of issued shares without changing the stated capital—it falls under **Corporate News**. 4. **Distinction:** While it affects the stock, it is a company-initiated structural event rather than a report on broad "Market News" (market trends/indices) or a "Product Launch."

Industry & Sector News **

Farming Reform: Sri Lanka’s Strategy Post-Cyclone Ditwah 📈

Three months after Cyclone Ditwah (Nov 2025), the focus has shifted from emergency repair to systemic reform in agriculture and infrastructure. Total direct physical damage is estimated at US$ 4.1 Bn (approx. 4% of GDP), necessitating a shift toward climate-resilient economic planning. • Overall Economic Impact Direct Damage: US$ 4.1 Bn (based on World Bank GRADE report). Population Affected: 2.2 million people across all 25 districts. Sector Loss: Agriculture sustained US$ 814 Mn in direct damage. • Sector Breakdowns & Production Risks Paddy: Over 108,000 hectares destroyed; 90% targeted for re-sowing. Vegetables: Prices spiked 100%–350% post-cyclone due to supply chain breaks. Livestock: Massive losses include 37,000 cattle/buffalo and 475,000 poultry. Fisheries: Damage estimated between US$ 66–69 Mn. • Reform Agenda Highlights Infrastructure: Rebuilding irrigation and drainage to future-proof standards rather than historical rainfall averages. Finance: Expanding crop insurance and rapid-trigger disaster financing to prevent rural debt crises. Diversification: Moving away from "all-or-nothing" systems by promoting stress-tolerant crop varieties and ICT/BPM integration for localized early warnings. • Next Steps for Recovery FAO seeking US$ 16.5 Mn for early recovery; currently only 2.4% funded. Focus on "Build-Back-Better" irrigation and shock-responsive safety nets for smallholder farmers. _Summary based on provisional FAO and World Bank data as of February 2026._

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**Economic News** ### Reasoning The news text focuses on the **macroeconomic impact** of a major natural disaster (Cyclone Ditwah) on Sri Lanka’s national economy and its sovereign debt sustainability. * **Subject:** It centers on the **Debt Sustainability Analysis (DSA)**, GDP growth projections, and the International Monetary Fund (IMF) bailout program. * **Key Elements:** The article discusses fiscal policy, central bank positioning, and a debate among world-renowned economists (including Joseph Stiglitz) regarding **sovereign debt restructuring** and **solvency vs. liquidity** in a macroeconomic context. * **Impact:** The core theme is how an exogenous shock affects national economic indicators and government debt-repayment capacity, which falls squarely under **Category 3: Economic News**. While it mentions government decisions, it is not primarily about political stability (Politics) or specific laws (Regulatory). Similarly, while it discusses debt, it does so from a national macroeconomic perspective rather than a private investment or retail banking one.

### Cyclone Ditwah Shocks Economy: Debt Restructuring Under Fire 📈

The Central Bank of Sri Lanka (CBSL) maintains that 2026 GDP growth and debt sustainability remain on track despite the catastrophic impact of Cyclone Ditwah. However, a global coalition of 121 economists, led by Nobel laureate Joseph Stiglitz, warns that the current debt deal is inadequate to absorb this US$ 4.10 Bn exogenous shock. Economic & Sectoral Impact • Agriculture: US$ 814 Mn in direct damage to paddy, vegetables, and livestock; posing severe risks to food security. • Apparel & Manufacturing: Production and shipments delayed due to flooding and power outages affecting 30% of the grid. • Infrastructure: Total damage estimated at US$ 1.74 Bn (42% of total losses), disrupting vital ICT/BPM and logistics hubs. • Macro Outlook: GDP growth expected to trim by 0.5%–0.7% as 2.2 Mn people face displacement and livelihood losses. Debt & Fiscal Position • Sustainability: CBSL Governor indicates IMF targets may need "inevitable" revision, but rejects calls for debt suspension. • Relief Demands: Economists call for an immediate debt service pause and genuine "solvency relief" (principal haircuts) over simple cash-flow reprofiling. • Emergency Funding: IMF has approved US$ 206 Mn via the Rapid Financing Instrument (RFI) to bridge urgent balance-of-payment gaps. Key Figures • Total Damage: US$ 4.10 Bn (approx. 4% of GDP). • Inflation: CCPI accelerated to 2.3% in Jan 2026; annual average 2026 forecast adjusted to 3.3%. • Remittances: Projected to rise 10%–15% (US$ 8.80 Bn total) as the diaspora supports reconstruction.

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Market News **Next Step:**

📈 Gold Rallies Near US$ 5,600/oz Amid Global Tensions

Global precious metal prices hit unprecedented highs on Thursday as safe-haven demand intensified due to geopolitical uncertainty and economic shifts. • Overall Market Figures • Gold: Surged to a record US$ 5,591.61/oz, gaining over 10% this week. • Silver: Reached a peak of US$ 119.34/oz, up 60% year-to-date. • Platinum: Rose to US$ 2,723.40/oz, following a record high earlier in the week. • Local Impact & Prices • 24-Carat Gold: Trading at approximately Rs. 456,850 per 8 grams (pawn) in Sri Lanka, reflecting the global surge. • 22-Carat Gold: Priced at roughly Rs. 418,850 per 8 grams (pawn), a significant jump driven by currency factors and global demand. • Domestic Market: Local prices in the Colombo Pettah market have increased by roughly Rs. 12,000 per sovereign recently. • Key Drivers • Geopolitical friction between the U.S. and Iran and a splintering global trade system. • Central bank buying and the U.S. Fed’s decision to keep interest rates unchanged. • Significant portfolio allocations to physical gold by large institutional entities like Tether (10%–15%). • Sector & Industrial Risks • Apparel & Textiles and ICT/BPM: While gold acts as a hedge for inflation, the soaring price of silver (up 60%) poses a direct cost threat to the tech sector and green energy components. • Investment: Analysts suggest the "parabolic" rally may lead to a brief pullback, though fundamentals remain supportive for 2026.

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