Business360LK ⚡ 🇱🇰

Zero-lag Sri Lankan Business News

Stay informed while you drive

NOW PLAYING

1 / 5
Politics & Government Impact

SJB Demonstrates in Colombo Fort Against 22nd Amendment 📢

• Key Action: The main opposition Samagi Jana Balawegaya (SJB) organized a demonstration in Colombo Fort opposing the proposed 22nd Amendment to the Constitution. • Leadership & Strategy: Led by Opposition Leader Sajith Premadasa, party members and MPs voiced strong objections, pledging to utilize all democratic mechanisms both inside and outside Parliament to defeat the amendment. • Macro Context: Political instability and opposition movements can influence investor confidence and policy predictability in governance, public administration, and the broader market environment.

1:03-1:57
75%
🎧

Listen to Today's Business News Playlist

🚗

Listen While Driving

⚡️

Real-Time Updates

🎯

Smart Playlists

Latest Business News

Politics & Government Impact

(53)

SJB Demonstrates in Colombo Fort Against 22nd Amendment 📢

• Key Action: The main opposition Samagi Jana Balawegaya (SJB) organized a demonstration in Colombo Fort opposing the proposed 22nd Amendment to the Constitution. • Leadership & Strategy: Led by Opposition Leader Sajith Premadasa, party members and MPs voiced strong objections, pledging to utilize all democratic mechanisms both inside and outside Parliament to defeat the amendment. • Macro Context: Political instability and opposition movements can influence investor confidence and policy predictability in governance, public administration, and the broader market environment.

Economy-wide / Cross-sector
Read more →

⚖️ CIABOC Complaint Lodged Against 159 NPP MPs Over Allowance Misuse

• Allegation: Civil society groups, including the Centre for Free Struggle, Dinana Dakuna, and Free Lawyers, filed a complaint with the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) against 159 National People’s Power (NPP) MPs. • Core Issue: The petition alleges that parliamentary allowances meant for public welfare were instead deposited directly into a Janatha Vimukthi Peramuna (JVP) bank account, constituting a potential offence under the Anti-Corruption Act No. 09 of 2023. • Key Demands: • Investigation and statement recording of all 159 NPP MPs. • Formal examination of JVP bank accounts and financial records. • Action under five specific demands to ensure political accountability and financial transparency.

Economy-wide / Cross-sector
Read more →

🏛️ Namal Rajapaksa Summoned to CIABOC Today

• Summons Details: SLPP National Organiser and MP Namal Rajapaksa has been formally notified to appear before the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) today at 9:00 AM. • Compliance: Attorney Muditha R. Lokumudali confirmed that Rajapaksa agreed to comply with the written directive and will present himself as requested. • National Context: Strict enforcement by anti-corruption bodies like CIABOC remains crucial for strengthening Sri Lanka's governance frameworks, political accountability, and long-term economic stability.

Economy-wide / Cross-sector
Read more →

⚠️ Opposition Leader Criticizes 22nd Amendment & Economic Policies

• Political & Legal Risks: Opposition Leader Sajith Premadasa warned that the proposed 22nd Amendment threatens constitutional checks and balances across the executive, legislature, and judiciary, undermining the rule of law. • Economic Sector Impact: - Agriculture: Farmers reportedly facing losses of Rs. 17 per kilogram of paddy. - Finance & Pensions: Domestic debt restructuring negatively impacted provident funds while leaving high-wealth interests largely unaffected. • Policy & Reform Proposals: - Advocated for a social market economy balancing capitalistic wealth creation with social protection and wealth redistribution. - Highlighted historical models like Mahaweli and Gam Udawa as examples combining market liberalisation with state intervention. - Called for expanding court-enforceable fundamental rights in the Constitution to cover economic, social, cultural, educational, and health rights.

Economy-wide / Cross-sector
Read more →

🏛️ Sri Lanka's Legal Evolution & Political Power Structure

• Historical Context: Former President Ranil Wickremesinghe's address at the Rs. 1.6 Bn Galle Courts Complex highlighted the legal system's roots, tracing back to Dutch colonial institutions like the Landraad (Land Board) and Batavian Statutes. • Elite Lineage: Historically, Sri Lanka's colonial jurisprudence allowed the English-educated bourgeoisie to capture state machinery during the 1948 power transfer, preserving elite dominance over legal and political systems. • Constitutional Transition: The 22nd Amendment is presented as a structural shift away from dynastic legal hegemony, aiming to democratize state institutions and level the legal playing field. • Governance & Fairness: The legislative changes represent a step toward de-elitising the law, moving Sri Lankan jurisprudence from legacy colonial structures toward public interest and institutional fairness.

Economy-wide / Cross-sector
Read more →

HRW Calls for Accelerated Action on Past Abuses in Sri Lanka ⚖️

Human Rights Watch (HRW) has released a 49-page report alleging that the administration of President Anura Kumara Dissanayake lacks sufficient urgency in prosecuting past grave human rights abuses, despite making initial progress in select cases. • Overview of Domestic Justice Efforts: • HRW reviewed 7 prominent emblematic cases; found overall progress remains lagged and stalled. • Victims, families, and human rights defenders continue to face ongoing threats and intimidation. • Key Progress & Stalled Cases: • Recent Progress: Active steps taken in 2019 Easter Sunday bombing investigations (arrest of ex-military intelligence official Suresh Sallay in Feb 2026; travel bans on former President Gotabaya Rajapaksa in June 2026). Inquiries reopened into high-profile cases (journalists Lasantha Wickrematunge & Prageeth Ekneligoda). • Mass Graves: Remains of 582 individuals recovered at Chemmani (Jaffna), but no progress in identifying victims or perpetrators. • Stalled Cases: No arrests or prosecutions in the 2006 murder of 5 Tamil students and 17 Action Contre la Faim aid workers. • Policy & International Stance: • Govt has not accepted the UNHRC Sri Lanka Accountability Project nor established the promised Directorate of Public Prosecution. • Relies on existing bodies (Office on Missing Persons, Office for Reparations), which many victims' families reject. • UN Call to Action: HRW urges the UN Human Rights Council and member nations to press Sri Lanka for genuine accountability and an end to impunity.

Economy-wide / Cross-sector
Read more →

⚖️ Supreme Court Rejects Full-Bench Hearing for 22nd Amendment Petitions

• Bench Decision: Chief Justice Preethi Padman Surasena rejected President's Counsel M.A. Sumanthiran’s request—supported by senior counsel—to hear the challenges before a full bench. Proceedings will continue under the existing five-member bench. • Legal Argument: Solicitor General Viraj Dayaratne highlighted that under Article 132(3) of the Constitution, the Chief Justice holds sole discretion over bench composition. • Record Challenges: A record 67 Special Determination petitions were filed against the proposed 22nd Amendment Bill—the largest number of challenges against a constitutional amendment in Sri Lankan history. • Judicature Bill: Separately, five petitions have been filed challenging the Judicature Bill. • Venue Change: Following requests citing public access rights under the Constitution, proceedings were briefly adjourned and moved from Courtroom 502 to the larger Courtroom 501.

Economy-wide / Cross-sector
Read more →

⚖️ Former Minister Piyankara Jayaratne Sentenced to 7 Years Rigorous Imprisonment

• Verdict & Sentence: Colombo High Court Judge Mohamed Mihal sentenced former Civil Aviation Minister Piyankara Jayaratne to 7 years of rigorous imprisonment following a bribery and corruption trial. • Case Details: The indictment, filed by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC), involved the misappropriation of funds from State-owned SriLankan Catering Ltd. • Financial Impact: Jayaratne induced a company executive to use Rs. 330,000 from SriLankan Catering accounts to pay a private caterer for food supplied to political supporters during a 2014 UPFA May Day rally.

Economy-wide / Cross-sector
Read more →

⚖️ Ex-Finance Minister Ravi Karunanayake Granted Bail in NLB Corruption Case

• Case Overview: NDF MP and former Finance Minister Ravi Karunanayake was arrested by CIABOC and granted bail by Colombo Additional Magistrate Liyan Warushavithana. Released on two sureties of Rs. 1 million each, with a travel ban imposed. • Allegations & Impact: Charges filed under Section 70 of the Bribery Act regarding the illegal recruitment of three contract employees (two Coordinating Officers, one Management Assistant) using National Lotteries Board (NLB) funds during his tenure (Jan 2015 – May 2017). CIABOC alleges the recruits performed no NLB duties and were instead deployed for personal political activities, causing a financial loss to the state. • Key Proceedings & Submissions: • CIABOC sought remand citing non-compliance after four skipped notices, evasion, and risks of witness tampering alongside the first suspect (ex-NLB Chairman Shyamala Perera). • Defense Counsel cited severe health issues (5 cardiac stents, diabetes, cellulitis) and noted the co-suspect was already on bail, leading to the court's release order.

Economy-wide / Cross-sector
Read more →

Call for Accountability: Addressing Enforced Disappearances in Sri Lanka 🕊️

• National Context & Figures: • Credible international sources estimate between 60,000 to 100,000 enforced disappearances in Sri Lanka since 1971. • Sri Lankan commissions of inquiry record 43,000 cases, while Amnesty International estimates 30,000 to 60,000 deaths/disappearances during the 1987–1990 period. • Key Regional & Forensic Incidents: • Excavation at the Chemmani mass grave in the North revealed remains of over 400 individuals, including children. • The country currently lacks the forensic infrastructure and systematic DNA database required for victim identification. • Legal & Policy Framework: • Signed the International Convention for Protection of All Persons from Enforced Disappearance (ratified via Parliament act in 2016). • Under international and domestic law, unresolved disappearances remain active, ongoing violations requiring credible investigation and prosecution, rather than closure through unfulfilled promises.

Economy-wide / Cross-sector
Read more →

🤝 Sri Lanka and US Launch Atlas Angel II Bilateral Exercise 📈

• Overall Bilateral Cooperation: Sri Lanka and the US have officially kicked off Atlas Angel II, the second edition of their joint military training exercise, running from August 31 to September 4, 2026. The program aims to strengthen regional readiness, safeguard livelihoods, and contribute to security across the Indo-Pacific. • Scope & Focus Areas: The 5-day exercise brings together defense experts for joint training in key national defense and emergency response sectors: • Disaster response & landslide management • C-130 aircraft maintenance & aviation operations • Urban search and rescue, construction engineering, and incident command systems • Chemical, biological, radiological, nuclear, and explosive hazards • Participating Forces & Strategic Ties: • Participants include the Sri Lanka Air Force, US Pacific Air Forces (PACAF), and the Montana National Guard (led by Brig. Gen. Trace Thomas and Brig. Gen. Renea Dorvall). • International observers from the UK and Bangladesh are also attending. • The drill builds on the US State Partnership Program established in 2021 and a November 2025 MOU expanding cooperation with the US Coast Guard District 13 across maritime security and defense infrastructure.

Economy-wide / Cross-sector
Read more →

🏛️ CII Conducts Local Government Governance Training for ITAK Representatives in North

• Overview: The Coalition for Inclusive Impact (CII), upon request by the Ilankai Tamil Arasu Kachchi (ITAK), conducted a capacity-building program for local government representatives across Jaffna, Kilinochchi, Vavuniya, Mannar, and Mullaitivu. • Participants: Mayors, Chairpersons, Vice-Chairpersons, and Councillors from Northern local authorities, alongside senior ITAK leadership including C.V.K. Sivagnanam, M.A. Sumanthiran, and Shanakiyan Rasamanickam. • Core Modules & Capacity Enhancement: • Financial sustainability and revenue generation strategies. • Preparation and implementation of municipal by-laws. • Administrative procedures, statutory powers, and council responsibilities. • Planning & project implementation frameworks. • Aligning party ideology with transparent, accountable, and people-centered administration. • Resource Experts: Legal and operational guidance delivered by University of Jaffna Department of Law Lecturer Kosalai Mathan and local government federations representative Pradeep. • Strategic Impact: Aimed at improving institutional efficiency, administrative transparency, and enabling Northern local councils to fully utilize devolved local powers.

Education & Training
Read more →

Product & Service Launches / Business Expansions

(71)

🚀 Celeste and HVA Ceylon Partner to Launch Sri Lankan Brand in the U.S.

• Strategic Expansion: Sri Lankan quick-commerce platform Celeste has partnered with U.S.-based HVA Ceylon to establish, operate, and scale the Celeste brand in the United States market. • Founding Synergy: Initiated via the Chamber of Young Lankan Entrepreneurs (COYLE), the deal combines Celeste's digital retail capabilities with HVA Ceylon’s existing U.S. operational and distribution infrastructure. • Entity Milestones: - Celeste: Founded in 2020, the 24/7 e-commerce / digital retail platform has served over 200,000 customers and processed 3M+ orders, earning IFC recognition and 2025 Asia Marketing Excellence Awards. - HVA Ceylon: Recognized on the Inc. 5000 list of fastest-growing private U.S. companies for three consecutive years (2024–2026). • Economic Context: Marks a key cross-border milestone for homegrown Sri Lankan entrepreneurship and global retail market integration.

Retail & E-commerce
Read more →

📈 EY GDS Sri Lanka Expands Colombo Footprint with New WTC Facility

• Footprint Expansion: EY Global Delivery Services (EY GDS) Sri Lanka inaugurated a new office on Level 22 of the World Trade Center (WTC) East Tower on 1 September 2026, taking its total space to three full levels. • Capacity & Capabilities: • Adds 110 workstations to accommodate its workforce. • Features a newly refurbished cybersecurity center on Level 20. • Enhances services in technology, business, risk consulting, and assurance. • Growth Targets & Workforce: • Surpassed the milestone of 500 professionals in Colombo in recent months. • Strategic target set to double the workforce by 2027. • National Context: Solidifies Sri Lanka’s position as a regional hub for ICT/BPM and cybersecurity services, driving high-skilled employment and attracting global capability center investments.

Professional & Business Services
Read more →

🥥 Sri Lanka Launches National Initiative to Tap US$ 10 Bn Global King Coconut Market

• Project Targets & Expansion: The Govt. launched the “Ceylon King Coconut Village” initiative to establish 250 dedicated villages islandwide by 2028 (75 in 2026, 80 in 2027, and 95 in 2028) to boost production, processing, and export scale. • Global Market Opportunity: The global king coconut products market—currently valued at US$ 4–5 Bn—is projected to nearly double to US$ 10 Bn over the next decade. Sri Lanka aims to capture a major market share through organized commercial production. • Economic & Rural Impact: The project aims to reduce rural poverty, uplift household incomes, and generate employment across the value chain (cultivation, processing, packaging, and logistics). • Macro Context: The coconut sector initiative is designed to boost export revenue and narrow Sri Lanka's trade deficit, following merchandise exports of ~US$ 14 Bn, services/IT/tourism earnings of ~US$ 7 Bn, and imports of ~US$ 22 Bn last year.

Agriculture, Plantations & Fisheries
Read more →

Spera Unveils South Asia’s First Security Humanoid Robot 🤖

Sri Lankan tech firm Spera has launched the Spera Humanoid - Prototype One, South Asia’s first homegrown, full-scale bipedal security humanoid. Built entirely by local engineers without imported platforms, the initiative marks a major breakthrough for Sri Lanka's high-tech manufacturing sector. • Key Highlights: - Developed for security applications in high-risk operational environments. - Self-funded and bootstrapped through revenue generated from global software solutions. - Aims to tap into the emerging US$ 5 Tn global humanoid robotics economy. • Future Outlook: - International market interest secured ahead of commercial deployment. - Development planned for the next-generation Spera 2.0 model to scale the platform globally.

Technology & Digital Services
Read more →

📈 Hayleys Solar Completes 3.3 MWp Multi-Site Solar Rollout for Toyota Lanka

• Project Overview: Hayleys Solar has completed a multi-site solar installation totaling 3.31 MWp (3,314.62 kWp) across four key Toyota Lanka facilities to drive corporate sustainability. • Environmental Impact: Expected to generate ~4.6 GWh of clean electricity annually (equivalent to powering ~1,900 average homes) and offset ~2,300 tonnes of CO₂ emissions each year. • Facility Breakdown: • Toyota Lanka Fulfillment Centre: 1,780.03 kWp total across two phases (585.28 kWp and 1,194.75 kWp) • Toyota Lanka Head Office: 640.15 kWp • Body Repair & Paint Centre: 461.97 kWp • Ratmalana Facility: 432.47 kWp • Corporate Context: Supports Toyota Lanka’s long-term sustainability vision and network expansion plan (aiming for 30 branches islandwide by 2026) while showcasing commercial renewable energy adoption at scale.

Energy & Utilities
Read more →

📚 British Council Sri Lanka Launches Corporate English Solutions to Boost Workplace Communication

The British Council Sri Lanka has launched Corporate English Solutions (CES) to enhance workplace communication and soft skills across the corporate and educational sectors. • Key Initiatives Introduced: • Public soft skills workshops for individual learners across various professional levels. • Specialized teacher training programmes aimed at educators nationwide. • Extension of traditional academic offerings into customized corporate learning solutions. • Strategic Focus: • Aims to bridge the communication skills gap in the Sri Lankan workforce, supporting talent retention and career advancement. • Expands access beyond existing academic partners to include broad public and corporate participants. • Key Partnerships: • Features corporate adoption by major Sri Lankan entities, including Sri Lanka Telecom. • Positions soft skills training as a core driver for organizational performance and corporate growth.

Education & Training
Read more →

Vidullanka’s Rs. 1.8 Bn Ranna Solar Project Completed, Awaits Grid Connection 📈

• Investment & Capacity: Vidullanka PLC has completed the construction of its 10 MW Ranna Solar Power Project with a total investment of Rs. 1.8 billion. • Joint Venture: Developed under DPV Solar Energy Ltd., a 50:50 joint venture partnership between Vidullanka PLC and the David Pieris Group. • Grid Integration: Construction of the project is fully complete; final testing, commissioning, and commercial operations are pending energisation of the grid interconnection line by Electricity Distribution Ltd. (EDL). • Impact: The project will add 10 MW of renewable energy capacity to Sri Lanka's national grid upon commissioning, expanding Vidullanka’s domestic solar generation footprint.

Energy & Utilities
Read more →

🎓 Surrey–IIHS Partnership Expands British Higher Education Access in Sri Lanka

The University of Surrey (UK) and IIHS Multiversity have expanded their academic partnership to provide international healthcare education in Sri Lanka, positioning the country as a regional education hub. • Core Objectives: • Expand access to globally recognized British qualifications for Sri Lankan youth and professionals. • Attract South Asian learners to establish Sri Lanka as a regional gateway for healthcare education and research. • Key Healthcare Disciplines: • Clinical Sciences: Includes BSc (Hons) Nursing Studies, MSc Nursing, and BSc (Hons) Biomedical Sciences pathways. • Health Management Sciences: Focuses on leadership, global health, public policy, and healthcare administration. • Lifestyle, Nutrition & Sport Sciences: Covers preventive care via MSc Lifestyle Medicine, MSc Nutritional Medicine, and MSc Sport & Exercise Science. • Digital Health Sciences: Offers MSc Digital Health covering AI, telemedicine, health informatics, and data systems. • Strategic Impact: • Connects local talent with international professional development, employment, and research opportunities. • Supports national diversification by enhancing the higher education and training sector.

Education & Training
Read more →

📈 Binance Expands TradFi Suite with U.S. Stock Options Launch

• Core Product Expansion: Binance has launched options trading on 1,000+ selected U.S. stocks and ETFs for eligible non-U.S. users through Nest Trading Limited (ADGM-regulated) in partnership with U.S. broker-dealer Alpaca Clearing. • TradFi Growth Metrics: TradFi perpetual futures volume reached ~$433.4 Bn in August 2026 (~15x increase from January's $29.5 Bn). Equity-linked perpetuals generated ~$342.9 Bn in August volume (up over 800x from January's $410.9 Mn), representing ~79% of total TradFi activity. • Emerging Market Adoption: Emerging market retail and institutional activity remains a primary growth driver, accounting for >80% of direct stock trading volume during the platform's initial launch week. • Access & Asset Range: Integrates U.S. options alongside 7,000+ stocks/ETFs, bStocks, and equity-linked perpetuals into a single multi-asset account structure, broadening global retail participation in traditional U.S. capital markets.

Capital Markets & Investment
Read more →

🇱🇰 Colombo Fashion Week 2026 Focuses on High-Value Wedding Tourism 📈

Colombo Fashion Week (CFW) returns for its 23rd year from 17–19 September 2026 with CFW Couture + Trousseau, targeting the regional destination wedding and high-end fashion sectors. The initiative aims to leverage tourism and regional trade by positioning Colombo as a premier South Asian creative and luxury hub. • Strategic Focus & Sectors: • Directly supports the apparel & textiles sector by promoting high-craft couture, bridal wear, and trousseau designs. • Integrates with hospitality & tourism through the launch of the Wedding Tourism Summit to capture the high-spending destination wedding market. • Features Couture Cuisine, blending luxury gastronomy with high fashion to boost integrated hospitality experiences. • Regional & Global Reach: • Features leading designers from Sri Lanka, India, Pakistan, and Bangladesh. • Expands global market links through a partnership with the BRICS International Fashion Federation, bringing China into this season's showcase. • Corporate & Venue Sponsorship: • Presented by Nations Trust Bank (NTB) to drive direct commercial opportunities for designers, ateliers, and related financial services. • Hosted at City of Dreams Sri Lanka (in partnership with Cinnamon Life at City of Dreams).

Apparel & Textiles
Read more →

🚗 HNB Partners with Continental Cars for Exclusive Volkswagen Leasing Benefits 🚗

Hatton National Bank PLC (HNB) has joined forces with Continental Cars & Commercials (Pvt) Ltd—the authorized distributor of Volkswagen in Sri Lanka—to introduce customized financing options for local customers. • Leasing Package: Offers special interest rates alongside residual value terms for lease facilities extending up to seven years. • Added Value Perks: Customers receive a complimentary HNB credit card with the first-year annual fee waived, coupled with discounted vehicle insurance premiums via HNB General Insurance. • Strategic Objective: The initiative aims to enhance affordability, financial flexibility, and accessibility for Sri Lankan buyers seeking global automotive standards.

Banking & Financial Services
Read more →

📈 Creative Sri Lanka 2030: Transforming Heritage into Export Engine

The Sri Lanka Export Development Board (EDB) has launched the next phase of "Creative Sri Lanka 2030," a national initiative aimed at converting the island's traditional craftsmanship into high-value, globally competitive commercial brands. • Strategic Alignment & Targets: Aligns with the National Export Development Plan 2026–2030 (targeting US$ 36 Bn in total exports) to drive export diversification and value addition. • Sector Objective: Targets a 10% increase in export revenues from creative industries by 2028–2029 while driving job creation, particularly for youth and women. • Implementation Model: Uses a private-sector-led "Umbrella Model" covering 10 selected umbrella brands across handicrafts, lifestyle products, and giftware. • SME & Artisan Ecosystem: Clusters 40–50 SMEs as support suppliers around the 10 core brands, alongside developing 50 secondary SME manufacturers. • Pilot Success & Global Markets: Expands on a pilot phase supported by the EU and British Council that secured export orders from Germany, Denmark, and the UK. • International Exposure: Local exporters will participate in major trade fairs, including the Ambiente Gifts exhibition in Frankfurt, Germany (early 2027). • Global Scope: Capitalizes on a US$ 2 Trillion global creative economy, utilizing local foundations in art, fashion, design, architecture, cuisine, and heritage.

Manufacturing & Industrials
Read more →

Regulatory & Policy News

(92)

📜 Cabinet Approves Community Based Corrections (Amendment) Bill for Parliament

• Legal & Judicial Reforms: Cabinet granted approval to gazette and table the Community Based Corrections (Amendment) Bill in Parliament for final approval. • Targeting Repeat Offenders: The Bill updates provisions of the Community Based Corrections Act, No. 46 of 1999, ensuring more effective legal enforcement when dealing with repeat offenders. • Legislative Clearance: Drafted by the Legal Draftsman following initial Cabinet clearance on 7 April 2025, the Bill has received full clearance from the Attorney General. • Key Sponsor: The proposal was presented by Justice and National Integration Minister Harshana Nanayakkara.

Economy-wide / Cross-sector
Read more →

🦠 Sri Lanka to Overhaul 1897 Quarantine Law to Address Rising Epidemic Risks

• Overview: The Cabinet of Ministers has approved the appointment of a review committee to revise the Quarantine and Prevention of Diseases Ordinance No. 3 of 1897, strengthening Sri Lanka's legal framework against cross-border health threats. • Key Drivers: Health Minister Dr. Nalinda Jayatissa highlighted that surging domestic and international travel, alongside expanding trade, has heightened the risk of rapid infectious disease transmission. • Strategic Focus: The committee will integrate lessons from recent epidemic outbreaks into the updated legislation. This follows a stalled 2016 amendment attempt that was never presented to Parliament.

Healthcare & Pharmaceuticals
Read more →

FCCISL and Royal Thai Embassy Meet to Boost Trade Ties 🤝

• Core Discussion: A delegation led by FCCISL President Dr. Rohitha Silva met Thai Ambassador Paitoon Mahapannaporn to discuss deeper bilateral economic ties, investment, and trade cooperation. • Key Focus Areas: • Implementation of the Sri Lanka – Thailand Free Trade Agreement. • Empowering MSMEs, facilitating technology and knowledge transfers, and generating employment. • Connecting FCCISL’s regional chamber network directly with Thai commercial networks. • Upcoming Initiatives: FCCISL requested embassy assistance to mobilize Thai exhibitors, buyers, and delegations for the Asia Trade Fair planned for early 2027 in collaboration with the SAARC Chamber.

Economy-wide / Cross-sector
Read more →

📈 NCW Proposes Policy Reforms to Boost Female Labor Participation

• National Economic Context: Female labor force participation in Sri Lanka remains stagnant at 30%–36% (with 2024–2025 rates around 31%), while women occupy under 30% of management roles and face low political representation. • Key Policy Focus: The National Commission on Women (NCW)—established under the Women Empowerment Act, No. 37 of 2024—is drafting policies to relieve women from unpaid domestic and care work to enable economic and political entry. • Core Proposals: NCW Chairperson Grace Asirwatham highlighted sharing home care responsibilities, introduce shared maternity leave, and utilizing paid help so educated women can enter the workforce. • Broader Reforms: Proposals submitted to Parliament cover provincial council reform, the Muslim Marriage and Divorce Act, health policy, and increased female participation in politics. • Operational Roadmap: The NCW plans to recruit ~20 staff members; technical support is being provided by the UN and Human Rights Commission to set up mediation, complaint, and investigation systems. Regional offices are slated for 2028.

Economy-wide / Cross-sector
Read more →

📈 Presidential Secretary Urges Immediate PAYE Tax Relief

• Urgent Relief Called: Secretary to the President, Dr. Nandika Sanath Kumanayake, emphasized the need for swift measures to ease the heavy Pay-As-You-Earn (PAYE) tax burden on the public, stating the current tax pressure requires immediate correction. • Tax Administration Modernization: Speaking at the 21st Annual General Conference of the Association of Inland Revenue Commissioners in Colombo, Dr. Kumanayake stressed strengthening Sri Lanka’s Inland Revenue Department to match standards seen in developed nations. • Key Stakeholder Participation: The conference brought together high-level state representatives, including Economic Development Deputy Minister Nishantha Jayaweera and Inland Revenue Commissioner General R.P.H. Fernando.

Economy-wide / Cross-sector
Read more →

📈 Sri Lanka Needs 5,000 Annual Solar Technicians to Hit 2030 Energy Targets

• Target & Sector Capacity: Sri Lanka requires around 5,000 trained technicians yearly to support ~600 MW annual solar capacity additions, aiming for a 70% renewable energy grid share by 2030. Over 1,000 SLSEA-licensed companies currently employ ~10,000 individuals in the solar energy workforce, though most lack formal certification. • Training & Certification: SLSEA and PUCSL have launched a initiative targeting 5,000 technicians, alongside 100 instructors and inspectors. ~1,500 technicians are already trained. A free Recognition of Prior Learning (RPL) program allows technicians with 2+ years of experience to obtain NVQ Level 3 qualifications. • Mandatory Regulatory Timeline: - Jan 2028 – Dec 2029: NVQ Level 3 becomes mandatory minimum qualification. - From Jan 2030: NVQ Level 4 in solar technology and mandatory registration with the Sri Lanka Engineering Council as Engineering Technicians. • Cooling Sector Alignment: Similar mandatory certification standards apply to refrigeration & air conditioning (HVAC) technicians via free NVQ Level 3/4 programs run by the National Ozone Unit and PUCSL.

Energy & Utilities
Read more →

Govt. Ready for Constitutional Reforms to Combat Crime & Drug Menace ⚖️

• National Security Focus: Speaking at the 160th Sri Lanka Police anniversary, President Anura Kumara Dissanayake reiterated the administration's commitment to transforming Sri Lanka into a peaceful state by eradicating the drug trade and organized crime. • Justice Process Bottlenecks: While acknowledging a record number of drug raids carried out over the past 2 years, the President flagged critical delays between police arrests, investigations, and judicial sentencing as a key flaw that encourages criminal activity. • Legislative Action & Reforms: The Government has already introduced new laws and committed infrastructure to streamline legal proceedings. President Dissanayake affirmed that the Government will not hesitate to pass constitutional amendments if necessary to protect the public, judicial integrity, and the younger generation. • Impact on Economy & Governance: Tackling systemic legal delays and curbing organized crime aims to restore public trust, safeguard human capital, and stabilize national security—a vital baseline for long-term economic growth and governance reforms.

Economy-wide / Cross-sector
Read more →

🚗 Urgent Safety Recall Notice Issued for Honda Vehicles in Sri Lanka

Stafford Motor Co. (Pvt) Ltd., the sole authorized distributor for Honda Automobiles in Sri Lanka, in coordination with Honda Motor Co. Japan, has issued an urgent safety recall reminder regarding ongoing SRS Airbag system upgrades. • Affected Entity: Stafford Motor Co. (Pvt) Ltd. (authorized Sri Lankan distributor) & Honda Motor Co. Japan. • Issue: Urgent SRS Airbag system upgrades required across multiple Honda vehicle models currently operating in Sri Lanka. • Safety Risk: Noncompliance with the recall may result in serious injury to both the driver and front passenger in the event of a collision upon airbag deployment. • Action Required: Honda vehicle owners in Sri Lanka are strongly advised to check their vehicle status and participate in the safety upgrade immediately.

Other
Read more →

💊 Govt., UNDP Partner to Procure Hard-to-Source Medicines

• Strategic Agreement: The Sri Lankan Government signed a tripartite agreement with the United Nations Development Programme (UNDP) on September 1 to establish a specialized procurement mechanism for critical pharmaceuticals. • Key Signatories: The agreement was finalized at the General Treasury by Treasury Secretary Dr. Harshana Suriyapperuma, UNDP Resident Representative Azusa Kubota, and Health Ministry Secretary Dr. Anil Jayasinghe, in the presence of Health Minister Dr. Nalinda Jayathissa. • Economic & Healthcare Impact: The framework allows the Government to leverage UNDP's global supply channels to secure rare and urgently needed medicines that are difficult to obtain through standard procurement processes, enhancing national healthcare supply chain resilience and mitigating critical shortage risks.

Healthcare & Pharmaceuticals
Read more →

⚖️ Supreme Court Reserves Determination on 22nd Amendment

• Hearing Conclusion & Verdict: A five-judge bench led by Chief Justice Preethi Padman Surasena concluded oral hearings on petitions challenging the proposed 22nd Amendment to the Constitution. The Court's ruling will be confidentially delivered to the Speaker of Parliament to announce whether a public referendum or special majority is required. • Core Proposals & Scope: The Bill seeks to raise judicial retirement ages (Supreme Court judges to 67 years; Court of Appeal judges to 65 years) and expand judicial capacity to help resolve Sri Lanka's severe backlog of over 1.1 million court cases. • Key Legal Arguments: • State Defense: The Solicitor General argued the Amendment reduces Executive powers, improves efficiency, and does not violate judicial independence or Articles 3 and 4. • Proponents: Counsel supporting the Bill cited historical precedent, increased life expectancy, and international practices across the US, UK, and Commonwealth nations, arguing a referendum is unnecessary. • Procedure Concerns: Commonwealth Lawyers Association President Steven Thiru raised procedural concerns after petitioners were denied oral replies and required to submit written responses by 3 p.m. today.

Economy-wide / Cross-sector
Read more →

📈 World Bank Repositions Colombo as Standalone Tourism Hub

• Overall Funding: The World Bank is backing a overall $ 200 Mn three-part tourism package for Sri Lanka. The first operation, THRIVE Colombo, secures $ 77 Mn to convert transit visitors into long-stay travelers. • Market Gap: Currently, only 5%–10% of international tourists stay in Colombo, averaging just a half-day stay despite the city holding Sri Lanka's largest supply of 5-star hotel rooms. Target strategy aims to extend stays to 48–72 hours. • Infrastructure Development: Initial physical upgrades will focus on two core loops: • Fort Heritage Loop: Connecting Galle Face Green, Fort heritage buildings, and Pettah with waterfront pedestrian routes. • Nature Loop: Developing urban wetlands including Beddagana and Diyasaru Parks. • Institutional & Private Sector Strategy: • Restructuring SLTDA, SLTPB, and SLITHM alongside a new Tourism Act for better data systems and skills. • Establishing a Tourism Entrepreneurship Fund to enable private-sector management of heritage assets and finance cultural events like Kala Pola and Colombo Fashion Week.

Tourism, Hospitality & Leisure
Read more →

🚨 US-Sri Lanka Joint Operation Busts $21 Mn Drug Network

• Joint Security Operation: Sri Lanka’s Police Narcotics Bureau (PNB) partnered with the US Drug Enforcement Administration (DEA) and Pakistan’s Anti-Narcotics Force to dismantle a Pakistan-based narcotics network operating through Colombo. • Major Narcotics Seizure: Authorities intercepted maritime containers moving from Pakistan to Colombo between August 14–29, seizing ~463 kg of crystal methamphetamine concealed in bath towels. • Financial & Market Impact: The seized narcotics are valued at approximately US$ 21 Mn. Several suspects were arrested, cutting off illicit funding streams linked to transnational criminal organizations. • Bilateral Cooperation: The operation highlights ongoing security and intelligence assistance provided through the US Department of State's Bureau of International Narcotics and Law Enforcement Affairs (INL) to strengthen Sri Lankan law enforcement and customs capabilities.

Other
Read more →

Corporate News

(51)

SLID and EY to Host INED Forum on Boardroom Resilience 📊

• Event Overview: The Sri Lanka Institute of Directors (SLID) and EY are hosting an Independent Non-Executive Directors (INED) Forum titled "Resilient Boards Amidst Rising Risks" on September 10, 2026, at Cinnamon Grand Colombo. • Core Focus: Addressing critical threats like geopolitical tensions, supply-chain bottlenecks, and cyber risks. The forum will focus on embedding active risk oversight into strategy rather than treating compliance as a mere annual exercise. • Key Speaker: Features Guest Speaker Sanjeev Gupta (EY-Parthenon ASEAN Energy Leader), who brings insights from over 1,000 global engagements valued at over US$ 400 Bn. • Industry Impact: Distinguished panelists represent top national economic drivers, including Sri Lanka's apparel & textiles sector, offering insights to reinforce corporate governance and national risk resilience.

Professional & Business Services
Read more →

📈 Ceylon Investment & Ceylon Guardian Delay Rs. 1.02 Bn Share Repurchases to 22 Sept

• Key Highlights: Carson Cumberbatch Group's closed-end funds, Ceylon Investment PLC and Ceylon Guardian Investment Trust PLC, have pushed back their combined Rs. 1.02 Bn share buyback offers by three weeks due to schedule adjustments. • Ceylon Investment PLC: • Repurchase Target: Up to 1,800,014 ordinary shares (1 for every 54 held). • Offer Price: Rs. 203.33 per share (anchored to 31 March 2026 NAV). • Total Value: Over Rs. 365.9 Mn. • Ceylon Guardian Investment Trust PLC: • Repurchase Target: Up to 1,510,529 ordinary shares and 105,609 deferred shares (1 for every 53 held). • Offer Price: Rs. 406.43 per share (anchored to 31 March 2026 NAV). • Total Value: Over Rs. 613.9 Mn (ordinary) and over Rs. 42.9 Mn (deferred), net of 15% WHT. • Revised Timeline: • Entitlement Date: 11 September 2026. • Offer Period: 22 September to 13 October 2026. • Payment Deadline: 27 October 2026. • Strategic Context: Terms remain unchanged. The repurchases provide a capital-return mechanism for capital markets investors to realize value closer to the funds' net asset values.

Capital Markets & Investment
Read more →

🏦 DFCC Bank Secures CSE Approval for Rs. 12.5 Bn Debenture Issue

• Issuance Details: DFCC Bank has received in-principle approval from the Colombo Stock Exchange (CSE) to issue up to 125 million debentures, aiming to raise up to Rs. 12.5 billion. • Instrument Specifications: The offer consists of Basel III compliant, listed, rated, unsecured, subordinated, redeemable debentures featuring a non-viability conversion mechanism. • Tenure & Yield: The debentures carry a 5-year tenure (2026–2031) with a par value of Rs. 100 each and offer a fixed annual interest rate of 13% payable yearly. • Timeline: The subscription list for the issuance is scheduled to open on 11 September 2026. • Economic Context: Strengthens Tier 2 capital for the banking & financial services sector, supporting balance sheet expansion and capital adequacy requirements.

Banking & Financial Services
Read more →

🔔 Lanka IOC Rings CSE Bell to Mark Silver Jubilee Year

Lanka IOC PLC commenced its 25th year of operations in Sri Lanka with a ceremonial Market Opening Bell ringing at the Colombo Stock Exchange (CSE). • Key Milestone: Marks nearly a quarter-century of operations since its establishment in 2002 as a subsidiary of Indian Oil Corporation Limited. • Economic Presence: Listed on the S&P Sri Lanka 20 index, playing a strategic role in the country's downstream energy sector and overall economic growth. • Core Operations: Operates an extensive island-wide retail fuel network, lubricant business, bunkering operations, and petroleum storage infrastructure. • Strategic Focus: Remains committed to ensuring national energy security, driving operational excellence, and supporting Sri Lanka's transition toward a sustainable energy future.

Energy & Utilities
Read more →

📈 Siyapatha Finance 1H2026: Assets Cross Rs. 104 Bn as PAT Jumps 43%

Siyapatha Finance PLC (a subsidiary of Sampath Bank Group) reported strong financial results for the six months ended 30 June 2026, supported by lower impairment costs and accelerated loan growth amid broader macroeconomic recovery. • Financial Performance: • Profit After Tax (PAT): Rs. 1,007 Mn (+43% YoY from Rs. 706 Mn) • Profit Before Tax (PBT): Rs. 2,334 Mn (+38% YoY from Rs. 1,689 Mn) • Net Interest Income: Rs. 3,487 Mn (+32.6% YoY from Rs. 2,629 Mn) • Total Interest Income: Rs. 7,719 Mn (vs. Rs. 5,272 Mn in 1H2025) • Cost-to-Income Ratio: Improved to 49% (from 54%) • Balance Sheet & Asset Quality: • Total Assets: Expanded to Rs. 104 Bn (vs. Rs. 74 Bn as at 1H2025) • Total Loan Book: Grew 44% YoY to Rs. 99 Bn • Customer Deposits: Increased to Rs. 42 Bn (from Rs. 34 Bn) • Gross Stage 3 Ratio: Improved significantly to 4% (from 8%) • Net Stage 3 Ratio: Reduced to 2% (from 3%) • Net Asset Value per Share: Rs. 109.63 (from Rs. 91.07) • Capital Position & Footprint: • Tier 1 Capital Ratio: 11.88% (Regulatory Min: 8.50%) • Total Capital Ratio: 16.93% (Regulatory Min: 12.50%) • Liquidity Ratio: 148.05% (Regulatory Min: 100%) • Network Expansion: Reached 66 locations islandwide (up from 53) • Credit Rating: A(lka)/Stable by Fitch Ratings Sri Lanka

Banking & Financial Services
Read more →

📈 Asia Capital Secures Rs. 1.5 Bn Debt Rebate in Key Restructuring Milestone

• Financial Relief: Asia Capital PLC has secured a Rs. 1.5 billion debt rebate from shareholder creditor Fast Gain International Ltd., cutting its Rs. 1.8 billion debt obligation by ~83%. • Remaining Obligation: Following the rebate agreement signed on 30 June 2026 and disclosed to the CSE on 25 August 2026, approximately Rs. 300 million remains outstanding from the original debt. • Restructuring Context: The agreement resolves shareholder debt accumulated since 2024 to fund high operational costs, capital expenditures, and hotel-related bank loan settlements following period losses. • Strategic Impact: The debt reduction significantly eases legacy financial burdens, providing greater balance sheet resilience and financial flexibility for the premier investment banking institution to focus on sustainable long-term growth within Sri Lanka's capital markets landscape.

Capital Markets & Investment
Read more →

📈 NSB Group Reports Rs. 22.5 Bn Operating Profit in 1H 2026

National Savings Bank (NSB) Group delivered resilient 1H 2026 financial results, anchored by core banking growth and expanded lending, despite cost pressures and market income volatility. • Overall Financial Performance • Operating Profit: Rs. 22.5 Bn • Total Operating Income: Rs. 45.8 Bn (+3.1% YoY) • Net Operating Income: Rs. 49.1 Bn (+2.3% YoY) • Net Interest Income: Rs. 44.2 Bn (+5.5% YoY), aided by a 4.7% drop in interest expenses • Fee & Commission Income: Rs. 1.40 Bn (+37.0% YoY) via digital and transaction services • Profitability: PBT at Rs. 22.6 Bn (vs. Rs. 24.1 Bn in 1H 2025); PAT at Rs. 13.4 Bn (vs. Rs. 14.7 Bn in 1H 2025) • State Revenue Contribution • Total contribution to public finances reached Rs. 23.8 Bn • Includes Rs. 9.14 Bn in Income Tax, over Rs. 7.29 Bn in VAT & SSCL on financial services, and a Rs. 7.4 Bn dividend declared to the Government. • Balance Sheet & Lending Breakdown • Total Assets: Expanded 2.1% to Rs. 1.87 Trillion • Loans & Advances: Expanded 9.1% to Rs. 601.01 Bn, driving vital credit expansion into retail and key economic sectors • Customer Deposits: Grew 1.5% to Rs. 1.63 Trillion • Equity & Reserves: Shareholders' equity rose 4.1% to Rs. 123.91 Bn; retained earnings jumped 12.4% to Rs. 52.34 Bn. • Key Financial Health Indicators • Net Interest Margin (NIM): Improved to 4.81% (from 4.74% at end-2025) • Asset Quality: Net Stage 3 loans ratio improved to 2.05% (from 2.52%), with coverage up to 59.77% • Capital & Liquidity: Tier 1 Capital at 19.72% (min. 8.5%), Total Capital at 21.1% (min. 12.5%), and Liquidity Coverage Ratio at 311.88% (min. 100%).

Banking & Financial Services
Read more →

📈 SLID Concludes Landmark Corporate Director Summit 2026

• Event & Overview: The Sri Lanka Institute of Directors (SLID) successfully hosted the Sri Lanka Corporate Director Summit 2026, marking its 25th anniversary. Theme: _"Future-Ready Sri Lankan Boards – From Compliance to Sustainable Growth."_ • Participation: Gathered 475 key stakeholders, including chairpersons, corporate directors, CEOs, regulators, investors, governance professionals, academics, and senior executives. Featured international and local experts from Sri Lanka, UK, US, Australia, India, Thailand, and the Maldives. • Key Focus Areas: • Moving beyond basic regulatory compliance toward strategic leadership and long-term value creation. • Managing artificial intelligence, ICT/BPM digital transformation, and cybersecurity risks. • Enhancing ESG priorities, corporate reputation, talent development, and organizational resilience. • Key Outcomes & Next Steps: • Insights will be compiled into a Board Governance Insights Handbook to guide corporate decision-making. • Continuous leadership development will be pursued via the SLID Board Leadership Programme to boost global competitiveness, institutional strength, and investor confidence. • Partners: Strategic Partner: Deloitte Sri Lanka & Maldives; Title Sponsor: LYNEAR Wealth Management.

Professional & Business Services
Read more →

Porsche Signs US$ 1.5 Bn Strategic AI Deal with TCS 📈

• Deal Overview: German automaker Porsche AG signed a 5-year, €1.25 Bn (US$ 1.5 Bn) agreement with Indian software services major Tata Consultancy Services (TCS). • Key Operational Focus: The partnership will deploy artificial intelligence across Porsche’s engineering, manufacturing, operations, and customer experience functions to drive digital transformation. • Asset Acquisition: As part of the arrangement, TCS will acquire Porsche’s Germany-based consulting subsidiary, MHP Management- und IT-Beratung GmbH. • Valuation & Closing: The MHP unit is valued at €320 Mn (US$ 374 Mn). The acquisition is expected to finalize within 3 to 4 months, pending necessary regulatory approvals. • Strategic Alignment: Porsche CEO Michael Leiters stated the divestment aligns with the automaker's core strategy to focus strictly on its primary automotive business. While centered on European and Indian corporate entities, global shifts in ICT/BPM tech outsourcing highlight growing cross-border demand for AI-driven transformation solutions.

Technology & Digital Services
Read more →

🤝 Adfactors PR Acquires Majority Stake in Australia’s SenateSHJ

• Regional Expansion: India’s largest public relations firm, Adfactors PR, has acquired a majority stake in Australian communication consultancy SenateSHJ to build a robust Asia-Pacific footprint. • Operations & Leadership: SenateSHJ will maintain its brand identity and continue operating from Sydney and Melbourne under Co-founder/Chair Angela Scaffidi AM and CEO Darren Behar. Adfactors PR CEO Nijay N. Nair joins the SenateSHJ board. • Sri Lanka Impact: The partnership enhances the international network for Adfactors PR Lanka, benefiting local enterprises looking to navigate cross-border reputation and trade in Australia. • Strategic Trade Links: The expansion directly supports key Sri Lankan export sectors targeting Australia, including apparel, tea, and rubber, alongside investment, education, and community linkages.

Professional & Business Services
Read more →

📈 Fintrex Finance More Than Doubles 1Q PAT to Rs. 210 M

• Overall Financial Performance (1Q FY2026/27): • Profit After Tax (PAT): Rs. 209.93 Mn (+104% YoY from Rs. 103 Mn) • Profit Before Tax (PBT): Rs. 340.59 Mn (+102% YoY) • Gross Income: Rs. 2.05 Bn (+57% YoY) • Total Operating Income: Rs. 1.31 Bn (+65% YoY) • Income Breakdown & Cost Impact: • Interest Income: Rs. 1.70 Bn (+50% YoY) • Net Interest Income: Rs. 961.95 Mn (+55% YoY) • Net Fee & Commission Income: Rs. 334.77 Mn (+104% YoY) • Impairment Charges: Rs. 278.73 Mn (+43% YoY) • Net Operating Income: Rs. 1.03 Bn (+72% YoY after provisions) • Balance Sheet & Growth Indicators: • Total Assets: Rs. 34.45 Bn (+9% expansion during the quarter) • Loans & Lease Receivables: Rs. 30.37 Bn (+7% quarterly growth) • Total Equity: Rs. 4.59 Bn (+5% quarterly growth) • Net Assets Per Share: Increased to Rs. 16.01 (from Rs. 15.28) • Context: Performance is based on unaudited interim financial statements for the quarter ended 30 June 2026. Revenue momentum was driven by portfolio expansion in core financial services, disciplined execution, and significant fee-based diversification.

Banking & Financial Services
Read more →

⚖️ FJ&G de Saram Launches U.L. Kadurugamuwa Legacy Series

Leading Sri Lankan law firm FJ&G de Saram launched the U.L. Kadurugamuwa Legacy Series in its 185th anniversary year to honor its late Precedent Partner, U. L. Kadurugamuwa. The inaugural event at Hilton Colombo brought together legal professionals, arbitrators, and clients to discuss commercial arbitration. • Dispute Resolution & ADR: Highlights included Kadurugamuwa's key role in Sri Lanka's Alternative Dispute Resolution (ADR) framework, including the Arbitration Act No. 11 of 1995, ICLP, and the International Alternate Dispute Resolution Centre (IADRC). • Commercial Arbitration Trends: Legal experts from Allen & Gledhill, Rajah & Tann, and SIAC discussed multi-contract disputes, jurisdictional challenges, and the role of supervisory courts in cross-border transactions. • SIAC Rules 2025: Panelists presented key updates from the SIAC Rules 2025, emphasizing emergency arbitration, interim relief, and early dismissal of unmeritorious claims to enhance legal efficiency for businesses.

Professional & Business Services
Read more →

Economic News

(59)

An International Monetary Fund (IMF) country team led by Mission Chief Evan Papageorgiou is scheduled to visit Sri Lanka from September 10–23, 2026.

Key Focus & Mission Objectives 📈 • Seventh Review of the EFF: Conduct a formal assessment of Sri Lanka’s economic reform program under the IMF's Extended Fund Facility (EFF). • 2026 Article IV Consultation: Evaluate recent economic developments, policies, and national economic stability. • Stakeholder Discussions: Engagements planned with authorities and key sector leaders to review the reform agenda and long-term structural issues. • Findings & Next Steps: The mission team will share its formal conclusions at the end of the two-week visit.

Economy-wide / Cross-sector
Read more →

📈 Sri Lanka’s Target to Reach $200 Bn Economy Faces Governance Hurdles

• Macroeconomic Context: Sri Lanka crossed the $100 Bn GDP mark in 2025, recovering from $74 Bn in 2022, with projections targeting a $200 Bn economy by 2029. However, regional peers like India saw growth to $4.1 Tn in 2025 (heading to $7.5 Tn by 2028/29), leaving local growth lagging. • Key Sector & Trade Vulnerabilities: • Tourism: Strategic policy inconsistency caused an estimated cumulative revenue loss of $12.1 Bn over decades. Arrivals are down -1.4% YoY in 2026 due to high airfare costs and lack of carrying capacity planning. • Exports: Exports to India remain at just $1 Bn compared to $4.3 Bn in imports, representing only 0.1% of India’s $720 Bn import market. • Financial Sector: Systemic credibility is threatened by major financial irregularities, including a Rs. 13.2 Bn bank fraud, a $2.5 Mn Treasury scandal, and $1 Bn in suspicious import bill transfers under investigation across 4 banks. • Required Reforms & Targets: To maintain stability and prevent default, gross official reserves must reach $9 Bn by end-2026 and $13 Bn by 2027. Growth drivers across exports, tourism, FDI, and remittances require 8–10 year legally binding policy consistency, financial corruption prosecution, infrastructure development, and deeper Indo-Lanka FTA integration.

Economy-wide / Cross-sector
Read more →

📊 Sri Lanka GDP Trajectory & Economic Outlook

• Recent Performance & Forecast: Sri Lanka's steady post-2022 recovery recorded GDP growth of 4.9% in 2Q 2025, ~5.4% in 3Q 2025, 4.8% in 4Q 2025, and 5.1% in 1Q 2026. However, growth is expected to slow sharply in 2Q 2026 due to an energy price shock from the Iran conflict and the closure of the country's sole oil refinery. • Structural Vulnerabilities: Key economic risks remain centered on a narrow export base, high dependence on imported energy, a developing tax administration, and ongoing debt restructuring under the IMF program. • Macro Context: Quarterly GDP figures serve as provisional estimates rather than final metrics. Institutions and sovereign bond markets evaluate economic health alongside high-frequency indicators such as electricity generation, port throughput, and customs data.

Economy-wide / Cross-sector
Read more →

IMF Advises Central Banks to Shift Away from Rate Commitments 📈

• Key Focus: The IMF has outlined new communication principles for central banks navigating high economic uncertainty and frequent global shocks, emphasizing policy reaction functions over rigid promises. • Core Shift: Central banks are urged to move away from fixed forward guidance (precommitting to interest rate paths) and instead prioritize data dependence to handle inflation surprises and supply shocks without losing credibility. • Scenario-Based Messaging: • Forecasts must be framed as estimates, not guarantees, accompanied by risk scenarios to explain how decisions might change under alternative outcomes. • Conditional rate-path promises should remain rare exceptions, equipped with explicit escape clauses subordinate to price stability mandates. • Market Impact: • Communication Limits: More information is not always better; over-communicating risks causing real-time AI and market over-analysis, distracting from economic fundamentals. • Accepting Volatility: Market volatility driven by new macroeconomic data is natural price discovery and shouldn't be artificially suppressed by central bank messaging.

Economy-wide / Cross-sector
Read more →

CBSL to Host Global Reserve Management Conference in Colombo 📈

• Event Details: The Central Bank of Sri Lanka (CBSL) will host a global reserve management conference on Sept 10–11 at The Kingsbury Hotel, Colombo, gathering central bankers, asset managers, and policymakers🌐 CBSL to Host Global Reserve Management Conference in Colombo • Event Overview: The Central Bank of Sri Lanka (CBSL) will host a international reserve management conference on Sept 10–11 at The Kingsbury Hotel, bringing together central bankers, sovereign asset managers, and policymakers to discuss reserve resilience, geopolitical fragmentation, USD dominance, gold/alternative assets, and technology & AI in reserve management. • Speakers: Featured global speakers include Domenico Nardelli (AIIB), Ussrah Hussain (HSBC), Shaokai Fan (World Gold Council), and Ajay Kumar (RBI). 📈 Reserve Status & CBSL Actions: • Gross Official Reserves: Reached US$ 6.591 Bn (end-July 2026), up +2.1% MoM from US$ 6.45 Bn in June amid central bank dollar purchases. • Dollar Buying: CBSL net bought US$ 348.6 Mn in July, bringing year-to-date net purchases to US$ 905 Mn (following US$ 2 Bn bought in 2025). • Market Context & Risks: • Sri Lanka faces ongoing monthly reserve fluctuations due to external debt service obligations. • According to Fitch Ratings, Sri Lanka’s FX reserves declined 7% between Feb–Apr 2026, with the rupee experiencing a 5%–7% depreciation range alongside regional peers following geopolitical conflicts.

Banking & Financial Services
Read more →

📈 Budget 2027: Call to Reform Local Government Finances

A severe financial mismatch persists in Sri Lanka's local authorities despite national revenue recovery post-crisis. Ahead of Budget 2027, experts urge systemic reforms for Municipal Councils, Urban Councils, and Pradeshiya Sabhas. • Overall Revenue Disparities: Locally generated recurrent revenue grew nominally from Rs. 28.1 Bn (2019) to Rs. 56.7 Bn (2024), but inflation dropped its real value to Rs. 27.4 Bn (in 2021 prices). Local own revenue relative to central tax collection fell from 3.1% (2020) to 1.5% (2024). • Breakdown by Local Tier: Expenditure covered by own-source revenue varies sharply by region: • Municipal Councils: ~86% (rates/taxes account for 41% of own revenue) • Urban Councils: ~77% • Pradeshiya Sabhas: ~56% (rates/taxes account for just 12%) • Reliance on Grants: Government transfers financed ~65% of total local expenditure in 2024, highlighting heavy dependence on central funds due to outdated property registers and narrow tax bases. • Proposed Reforms for Budget 2027: • Modernize property valuation and collection via digital systems • Introduce formula-based, transparent equalisation grants for poorer regions • Establish a national local-government fiscal information database to link tax collection directly with local service delivery

Economy-wide / Cross-sector
Read more →

🇱🇰 Sri Lanka’s Post-IMF Outlook: Growth Strategy & Debt Vulnerability

• Debt Repayment & Shock Risks The end of Sri Lanka’s 3-year IMF EFF program in 2027 raises questions on debt sustainability. While debt servicing is manageable under ideal conditions, the country remains vulnerable to severe external shocks, including fertilizer import choke points at the Strait of Hormuz, rising fuel price volatility, and El Niño weather patterns. • Credit Ratings & Reserve Deficit Reserve Adequacy: The IMF Assessing Reserve Adequacy (ARA) metric stands at ~60%, well below the optimal 100% target. Credit Status: Sovereign credit ratings remain in CCC territory, limiting access to global commercial markets to roll over debt compared to peers like Ghana. • Critical Sector & Trade Risks Market Vulnerabilities: Key merchandise export destinations face headwinds, including unpredictable US tariff policies and EU GSP+ risks tied to human rights commitments alongside the impending India-EU trade pact. Structural Reforms: Backloaded 2026 Budget para-tariff removals must be fast-tracked to boost competitiveness in global supply chains. • Key Recommendations for Sustainable Growth Strategic Diversification: Establish a dedicated trade office to finalize RCEP and India trade agreements, pivoting export growth toward Asia. Asset Monetization: Drive selective privatization (e.g., listing Lanka Hospitals or restructuring SriLankan Airlines) to boost market confidence and build foreign reserves. Export-Led Strategy: Shift from construction-heavy growth toward export-oriented tradables to lower the national debt-to-GDP ratio.

Economy-wide / Cross-sector
Read more →

📈 Sri Lanka’s Debt-to-GDP Improves, But Fiscal Challenges Persist

Sri Lanka’s central government debt fell to 99.5% of GDP in June 2025 (from ~114% in 2023), aiming for the IMF target of 95% by 2030. However, underlying debt repayment terms, interest burdens, and foreign exchange dependence highlight ongoing risks. • Debt Restructuring & Servicing: The 2024 debt restructuring deferred heavy payments to 2028–2043. Interest rates on restructured main bonds drop initially to 3.6% until 2027, rising to 5.1% (2028–2032) and peaking at 9.25% (2032–2035). • Fiscal & Revenue Pressures: The 2026 Budget projects revenue of Rs. 5,300 Bn with interest expenses absorbing Rs. 2,617 Bn (nearly 50% of revenue). Though improved from 79.9% in 2023, high interest costs severely constrain public spending. Tax revenue is budgeted at 15.4% of GDP for 2026 amid a slowing IMF growth forecast of 3%. • Sectoral Foreign Earnings (1H 2026): Foreign debt servicing relies heavily on narrow inflows, showing mixed performance: • Merchandise Exports: $ 6.9 Bn (+6.3% YoY) • Remittances: $ 4.6 Bn (+23.2% YoY) • Tourism Earnings: $ 1.5 Bn (-11.8% YoY) • Reserves & Debt Visibility: Gross reserves slipped to $ 6.59 Bn in July 2026 (down from $ 7.3 Bn in Feb). Total debt including state-owned enterprise guarantees reached 104.1% of GDP in June 2025, though capped at 7.5% of average GDP under the Public Financial Management Act of 2024.

Economy-wide / Cross-sector
Read more →

🧠 SL’s Paradox: Exporting Intellect while Paying Premiums for Imported Validation

• Brain Drain & Structural Inertia: Sri Lanka faces a critical loss of elite human capital driven by post-colonial psychological bias, rigid hierarchies, and systemic under-valuation of domestic experts. Local talent routinely excels when relocated to meritocratic foreign environments, highlighting home-country institutional failure rather than a skill deficit. • Costly Reliance on Foreign Expertise: Institutions routinely pay $20,000–$40,000+ monthly in scarce foreign currency for overseas consultants and coaches (Sri Lanka Cricket cited as a primary example). Foreign hires receive complete operational autonomy and long-term insulation, while local experts face political micro-management, fragmented authority, and severe pay disparities in depreciating Sri Lankan Rupees. • Preserving Foreign Exchange & Tech Transfer: To mitigate structural deficits in specialized fields like renewable energy, semiconductor packaging, and pharmaceuticals, foreign expertise should be limited to strict, mandatory knowledge transfer (KT) frameworks: - Mandatory co-leadership and counterpart teams. - Joint ventures and university R&D offset requirements. - Tiered local-hiring quotas linked to visa renewals. • Tri-Pillar Reform Agenda: - State: Enact statutory technical advisory bodies, depoliticize public service roles, enforce open-data policies, and revise procurement to mandate domestic joint-venture participation. - Corporate: Right-skill boards with domain experts, establish parallel high-earning technical career tracks, fund university R&D, and eliminate default bias toward foreign consultancies. - Society & Civil: Cultivate analytical debate over emotional rhetoric, build cross-border consultation channels with the diaspora, and protect whistleblower and academic integrity.

Economy-wide / Cross-sector
Read more →

Policy Uncertainty Threatens Sri Lanka’s Debt Resilience 📉

• Macroeconomic Performance: GDP growth projected to drop to 3.1% by end-2026 (down from 5% in 2024). Inflation rose to 8% in August (up from 7.3% in July). Cumulative trade deficit widened significantly to US$ 6.5 Bn (Jan–Jul 2026) vs. US$ 3.9 Bn in the same period last year. • Trade & Sector Breakdown: Imports surged by nearly 26% (Jan–Jul 2026 YoY). Exports recorded a 5% increase over the same period. Tourism earnings declined by 11% from Jan–July 2026 compared to 2025. • Reserves & Debt Sustainability: Foreign exchange reserves stand at US$ 6.5 Bn, up by only US$ 500 Mn since 2024. Projected buffer of US$ 13 Bn by end-2027 appears unlikely to be met prior to resuming commercial and sovereign debt repayments in 2028. Servicing debt will require ~US$ 5 Bn annually by 2030.

Economy-wide / Cross-sector
Read more →

🌾 El Niño Risks and Geopolitical Tension Threaten Agricultural Exports: EDB

Sri Lanka’s export sector faces added pressure from dry weather caused by El Niño, impacting agriculture-linked goods alongside ongoing Middle East supply disruptions, according to the Export Development Board (EDB). • Overall Sector Performance (Jan–Jul 2026): • Tea: Export earnings fell 7.53% YoY to US$ 817.53 Mn (Bulk Tea down 9.89%, Tea Packets down 7.01%). Middle East conflicts directly threaten 35% of export destinations. • Vegetables: Earnings dropped 14.66% YoY to US$ 17.64 Mn. • Fruits and Nuts: Revenue declined 12.28% YoY to US$ 23.78 Mn. • Mitigation & Strategy: • Implementation of the National Export Development Plan (NEDP) aims for an 8–10% annual export growth target via product and market diversification. • Over 35 government institutions are coordinating under EDB to monitor performance across 8 priority focus sectors. • Key Focus Sectors: • Processed food & beverages, spices & concentrates, rubber-based industries, auto components, minerals-based industries, marine-based industries, digital products & services, and electrical & electronic components.

Economy-wide / Cross-sector
Read more →

📊 India’s GDP Growth Accelerates to 7.8% in 1Q FY27

India’s economy expanded by 7.8% YoY in 1Q FY27 to reach INR 81.36 trillion, beating the Reserve Bank of India’s 7.0% projection despite global trade uncertainties and high energy prices. • Overall Financials: Real GVA grew 8.2% to INR 73.82 trillion, while nominal GDP expanded 10.3% to INR 88.27 trillion. Investment demand surged with Gross Fixed Capital Formation rising 11.9%. • Sector Breakdowns: Manufacturing grew 9.2%, driving overall economic expansion. Electricity & Utilities rebounded with an 8.9% increase. Construction expanded by 7.7%. Agriculture maintained a steady 3.6% growth rate. Mining contracted by 2.4%. • Economic Outlook & Risks: Surging investment is being led by data centres, power, and metals. However, elevated crude oil prices above $80/barrel and West Asia disruptions pose ongoing risks to global demand and export growth, reinforcing the need for export diversification and cost competitiveness. Full-year growth is projected to reach 7.0%.

Economy-wide / Cross-sector
Read more →

Industry & Sector News

(77)

🤖 AI Disruption Pressures Sri Lanka’s IT Export Model 📈

Sri Lanka’s ICT and BPM export model faces pressure from rapid AI advancements, lowering client valuations for coding and back-office services despite strong recent export performance, according to Frontier Research. • Overall Figures & Sector Performance: ICT/BPM exports rose 11.31% YoY to US$ 150.49 Mn in June, outperforming the overall services export growth of 3.75%. • Risks & Disruption: Cheaper AI-generated code threatens traditional, labor-intensive outsourcing models. This impacts Sri Lanka's path toward achieving its US$ 5 Bn technology export target. • New Channels & Opportunities: • The government's proposed AI data centre initiative seeks to create a new foreign exchange channel by serving local and regional customers. • AI-augmented capital could help offset medium- to long-term economic growth constraints caused by an aging workforce and falling birth rates. • Global Context: US AI compute output is estimated to outpace China by 21–49 times in 2026. The shift highlights growing global policy focus on computing capacity and semiconductor supply chains.

Technology & Digital Services
Read more →

💎 Sri Lanka Targets Up to $3 Bn in Gem & Jewellery Exports via Gem City Ratnapura 2026

The Government and National Gem and Jewellery Authority (NGJA) have set a national economic goal to elevate gem & jewellery export revenues to $3 Bn by 2030 ($2 Bn targeted by Ministry of Industry), emphasizing value addition, gem tourism, and international trading hub status. • Key Highlights & Initiatives • Transitioning from raw exports to high-value cutting & polishing, certified labs, custom design, research, and branding. • Promoting gem tourism in Ratnapura by integrating local mines, museums, cutting centers, and workshops. • Streamlining trade via simplified import-export rules, supply chain traceability, and fiscal policy support. • Strategic focus on expanding diamond processing, gold manufacturing, and sustainable practices (eliminating child labor, empowering women). • International Participation & Markets • Showcased at the 3rd annual "Gem City Ratnapura 2026" exhibition in Pelmadulla. • Attracted buyers and delegations from key markets: India, Pakistan, Thailand, USA, China, Spain, Japan, Poland, Ethiopia, and broader Europe. • Key partnerships forged with Thailand for technology and market access, alongside diplomatic promotion through overseas Sri Lankan missions.

Manufacturing & Industrials
Read more →

Diplomatic Corps Experiences Kandy Esala Perahera to Boost Tourism 📈

• Diplomatic Participation: Around 70 members of the Diplomatic Corps—including Heads of Mission based in Colombo and New Delhi—visited Kandy from 26–28 August 2026 to experience Sri Lanka’s cultural heritage and promote tourism. • Key Cultural Highlights: • Attended briefings on religious significance at SIBA Campus. • Witnessed the traditional Thewawa ceremony at Sri Dalada Maligawa. • Attended the Grand Randoli Perahera pageant featuring traditional dancers, drummers, and elephants. • Visited historic sites, including the International Buddhist Museum, elephant stables, and Ehelepola Walawwa. • Economic & Sector Exposure: • Ceylon Tea: Toured the Ceylon Tea Museum in Hanthana to learn about its rich history and national economic significance. • Botany & Environment: Visited the Peradeniya Royal Botanic Gardens. • Cuisine & Hospitality: Experienced traditional Kandyan dining hosted by the Chief Custodian of Sri Dalada Maligawa and the Foreign Ministry. • Strategic Impact: Organized by the Ministry of Foreign Affairs, Foreign Employment and Tourism to enhance global visibility, position Sri Lanka as a unique cultural destination, and support economic diversification through enhanced tourism engagement.

Tourism, Hospitality & Leisure
Read more →

🧬 National Biotechnology Industry Association Marks Milestone with First AGM

• Key Event: The National Biotechnology Industry Association (NBIA) successfully held its inaugural Annual General Meeting (AGM) on 20 August 2026 at the Sri Lanka Institute of Biotechnology (SLIBTEC). • Core Objectives: • Reviewed NBIA's initial progress and outlined strategies to strengthen Sri Lanka’s national biotechnology ecosystem. • Focused on creating an enabling environment to drive innovation, commercialisation, investment, and research. • Strategic Focus Areas: • Emphasised fostering collaboration between industry, research institutions, and academic bodies. • Prioritised knowledge and technology transfer to support applications in key areas of national economic importance. • Reaffirmed commitment to building a competitive, innovative, and sustainable sector in partnership with government and private sector stakeholders.

Healthcare & Pharmaceuticals
Read more →

Sri Lanka August Tea Sales Average Edges Lower 📈

• Overall Performance: The National Sales Average (NSA) for tea eased to Rs. 1,174.46 (US$ 3.53) per kg in August 2026, down MoM by Rs. 1.64 (+US$ 0.03) and YoY by Rs. 7.81 (-US$ 0.39). Cumulative 8-month NSA reached Rs. 1,165.66 (US$ 3.62), up Rs. 9.29 YoY in rupee terms but down US$ 0.25. • Sector Breakdown: • High Grown: August average fell MoM by Rs. 4.89 (-YoY Rs. 49.14) to Rs. 1,057.06 (US$ 3.18). YTD average gained Rs. 35.14 YoY to Rs. 1,109.75 (-US$ 0.15 to US$ 3.45). • Medium Grown: Rose marginally MoM by Rs. 0.88 to Rs. 954.82 (US$ 2.87), but dropped YoY by Rs. 74.28 (-US$ 0.54). Remains the only segment with a YTD rupee decline, down Rs. 41.80 YoY to Rs. 980.26 (-US$ 0.38 to US$ 3.04). • Low Grown: Eased MoM by Rs. 16.23 to Rs. 1,276.83 (US$ 3.84), yet gained Rs. 25.74 YoY (-US$ 0.31). YTD average increased Rs. 13.26 YoY to Rs. 1,241.30 (-US$ 0.26 to US$ 3.86). • Market Trends: In rupee terms, YTD averages for National, High Grown, and Low Grown categories maintained positive variances against 2025, whereas Medium Grown lagged. All elevation categories and the overall NSA posted YoY declines in US dollar terms due to exchange rate movements.

Agriculture, Plantations & Fisheries
Read more →

Sri Lankan Fintechs Target 200M Regional Market Beyond Domestic Borders 📈

Sri Lanka's fintech ecosystem is transitioning into an acceleration phase, aiming to scale local innovations into larger international markets across Africa and Asia. • Market Expansion: With a domestic population of ~20M, local firms are eyeing regional markets like Africa to access up to 200M potential users—nearly 10 times Sri Lanka’s domestic scale. • Industry Collaboration: The Fintech Forum Sri Lanka has aligned banks, LankaPay, tech firms, and the Central Bank of Sri Lanka (CBSL) to move past operating in silos and build structured pathways for ICT/BPM and fintech scaling. • Global Partnerships: Strategic links established with fintech bodies in Singapore, Taiwan, and Africa to secure regulatory guidance, market entry, and tangible cross-border business ties. • Strategic Focus Areas: • SME Financing: Driving bank-fintech collaboration to lower operational costs and improve credit access for underserved SMEs and micro-SMEs. • Embedded Finance: Expanding beyond BNPL into e-commerce platforms and super apps over the next 3–5 years alongside maturing open banking. • Regulatory Frameworks: Advocating with CBSL for proportionate regulation—particularly in digital lending—to build consumer trust while enabling safe innovation. • Data Sharing: Leveraging existing LankaPay infrastructure while pushing for deeper bank-fintech data integration to strengthen trusted financial rails.

Banking & Financial Services
Read more →

SLTDA Launches National Tourism Skilling Program to Elevate Standards 📈

• Campaign Overview: The Sri Lanka Tourism Development Authority (SLTDA) officially launched its islandwide capacity-building initiative, the National Tourism Skilling Program (NTSP), on 31 August from Ella. • Core Focus: Spearheaded under Tourism Deputy Minister Prof. Ruwan Ranasinghe and coordinated by SLTDA Director Tharanga Rupasinghe, the program targets micro, small, and medium enterprises (MSMEs). It focuses on digital payment adoption, modern online marketing, and official registration. • Sector Impact: The campaign aims to transform local host communities, village-level enterprises, handicraft artisans, and independent operators into resilient, digitally-enabled beneficiaries of global travel traffic, elevating overall quality standards for tourism. • Regional Stakeholder Support: • Ella Tourism Association: Welcomed standardisation efforts to safeguard international reputation amid rapid regional growth in Uva Province. • Ella Homestay Owners Collective: Endorsed digital payment integration to drive direct bookings and lower third-party commissions. • Uva Tuk-Tuk and Adventure Guides Association: Highlighted safety and compliance training to boost trust among high-spending international travelers.

Tourism, Hospitality & Leisure
Read more →

Mannar Gas Basin: Transforming Sri Lanka’s Economic Future 📈

The Petroleum Development Authority of Sri Lanka (PDASL) announced on 27 August 2026 that Sri Lanka is seeking investors to develop natural gas resources in the Mannar Basin. The project presents an opportunity to move beyond raw resource extraction to build long-term national economic resilience. • Strategic Value & Import Substitution: Commercial development of natural gas can reduce dependence on imported fuels, strengthening energy resilience against global price shocks. It can incubate key industries, including power generation, industrial energy, and downstream value-addition activities. • Infrastructure & Industrial Clusters: Infrastructure planning surrounding production, gas transport, ports, and power grid connections can attract broad private investment and catalyze manufacturing zones. • Domestic Capability & Skilled Labor: Capitalizing on upstream development requires deliberate investments in domestic human capital across engineering, geoscience, and environmental management, driven by partnerships between domestic universities, government, and industry players. • Community & Regional Integration: Sustainable development hinges on securing a social license. Local communities in Mannar must benefit from regional infrastructure, employment, skills development, and environmental safeguards for local fisheries. • Institutional Governance & Investment: Success requires institutional coordination to transform regulatory frameworks into commercial confidence. Sri Lanka must address investor risk by providing regulatory stability, clear market pathways, and transparent processes to attract global capital.

Energy & Utilities
Read more →

📈 Territorial Gatekeeping and Stagnation in Sri Lanka's Creative Capital

Sri Lanka’s independent creative economy faces ongoing structural stagnation due to territorial gatekeeping, risk-averse private capital, and under-valued creative labor, based on an industry analysis. • Key Structural Challenges: • Protectionist tactics and unregulated competition in Southern/Eastern coastal zones restrict foreign and independent hospitality operations. • Urban nightlife and entertainment suffer from a lack of permanent venues dedicated to alternative subcultures, relying heavily on low-risk commercial music. • Corporate capital operates on a "Grateful Economy" model—offering minimal budgets, high deliverables, and occasional intellectual property exploitation rather than long-term investment. • Sector & Market Opportunities: • Entertainment & Events: Independent pop-up venues highlight strong domestic demand for curated alternative music experiences despite missing permanent infrastructure. • Tourism & Hospitality: Local gatekeeping hampers global market alignment, whereas international collaboration could elevate Sri Lanka’s soft power and premium tourism offerings. • Diaspora Capital: The Sri Lankan creative diaspora remains an untapped pipeline for capital and intellectual property, often facing domestic cynicism despite offering access to global networks and funding models. • Economic Context: • With state subsidies unavailable due to ongoing debt crisis recovery, growth relies on progressive private investors and diaspora capital granting true creative autonomy.

Tourism, Hospitality & Leisure
Read more →

📉 Sri Lanka Tourism Arrivals Down 3.3% in August Despite Esala Perahera Boost

• Overall Figures • August Arrivals: 191,704 (-3.29% YoY) • YTD Arrivals (Jan-Aug): 1.53 Mn (-2% YoY vs 1.56 Mn in 2025) • Comparison: YTD figures remain 3.1% below 2018 pre-pandemic benchmark (1.58 Mn) • Target Status: Approx. 1.17 Mn arrivals needed in Sep-Dec (avg. ~295,000/month) to reach 2026 target of 2.7 Mn • Key Market Factors & Trends • Disruption caused by Middle East tensions impacting regional aviation and travel patterns • Seasonal boost provided by Esala Perahera was insufficient to reverse the broader slowdown • Shift in focus: Tourism Deputy Minister stated the strategic priority is now on earnings rather than footfall • Top Source Markets (August 2026) • India: 47,253 • UK: 19,588 • China: 12,321 • Germany: 11,405 • France: 10,885 • Top Source Markets (YTD Jan-Aug 2026) • India: 385,483 (25% of total) • UK: 149,989 (10% of total) • China: 100,828 (7% of total) • Other key markets include Germany, Russia, Australia, France, US, Netherlands, and Canada

Tourism, Hospitality & Leisure
Read more →

Sri Lanka to Host Regional SEARIC Summit 2026 📈

• Event Details: Sri Lanka will host the South East Asia Rotaract Information Centre (SEARIC) Summit for the first time from September 11–13 at the Pegasus Reef Hotel. • Regional Scale: Organized by Rotaract District 3220 (Sri Lanka & Maldives), the flagship gathering will bring together over 500 delegates across 6 countries. • Core Theme: Centers on "The Role of Technology in the Future of Careers and Services," focusing on how emerging tech impacts ICT/BPM, leadership, careers, and community service. • National Context: Highlights Sri Lanka’s position as the 8th largest Rotaract base globally (4,500+ members in 85+ clubs) while boosting the tourism & hospitality sector by positioning the country as a hub for MICE (Meetings, Incentives, Conferences, and Exhibitions) events.

Tourism, Hospitality & Leisure
Read more →

Sri Lanka Retail Forum 2026 Set to Drive Tech-Led Business Transformation 📈

The Sri Lanka Retailers’ Association (SLRA) is organizing the Sri Lanka Retail Forum 2026 on 10 September 2026 at Cinnamon Life, Colombo. Themed _"Retail Without Boundaries: Building the Next Growth Engine,"_ the event will gather over 500 industry leaders, policymakers, tech experts, and investors to focus on scaling the retail sector. • Key Highlights & Focus Areas • Keynote address by Deloitte on regional GTM strategies, structural expansion, and positioning retail as a national economic driver. • Strategy panels examining productivity, brand modernization, and specialty coffee growth. • Discussions on leveraging AI, big data, robotics, and phygital model transformation to modernize local supply chains. • Key Sectors & Strategic Alignment • Integration across FMCG, apparel & textiles, consumer electronics, e-commerce, and hospitality to accelerate trade, commercial growth, and macroeconomic recovery. • Participation & Strategic Network • Chief Guest: Chairperson of the Ceylon Chamber of Commerce delivering national policy insights. • Backed by major sponsors including Keells, BYD, Singer, Abans, Healthguard, Samsung, and Unilever. • Registration Fee: LKR 22,000 (SLRA members) | LKR 24,000 (non-members).

Retail & E-commerce
Read more →

Appointments & Executive Moves

(23)

👔 Pradeep Kahawalage Re-Elected as CNCI Chairman

• Leadership & AGM: Pradeep Kahawalage (CEO of Richardson Engineering Ltd.) was re-elected Chairman of the Ceylon National Chamber of Industries (CNCI) at its 65th AGM on 20 August 2026. Industry and Entrepreneurship Development Ministry Secretary Thilaka Jayasundara attended as Chief Guest. • CNCI Profile: Established in 1960 and incorporated by Act No. 10 of 1969, CNCI is Sri Lanka's oldest industrial chamber, celebrating its 66th anniversary this year. • Industrial Impact: CNCI plays a key role in driving manufacturing, engineering, innovation, and market expansion across Sri Lanka's industrial sectors. • Key Leadership Appointments: • Chairman: Pradeep Kahawalage • Deputy Chairman: Amila Sugathapala • Vice Chairpersons: Dr. Parakrama Herath, Udeni Nakandala, Samuditha Kumarasinghe, Ravi Rupasinghe • Secretary General: Samatha Wickramasena • Treasurer: Asanga Peiris • Immediate Past Chairman: Kevin Edwards

Professional & Business Services
Read more →

👔 Abans Finance Appoints Lakshman Gunasekara as New CEO

• Leadership Transition: Abans Finance PLC appointed Lakshman Gunasekara as Chief Executive Officer, effective 24 August 2026. • Industry Expertise: Gunasekara brings over 20 years of experience in Sri Lanka's financial services sector, specializing in operational leadership, strategic management, credit management, and risk management. • Career Background: He previously served as AGM at Lanka Orix Leasing Company (LOLC) from 2007 to 2019 before joining Abans Finance PLC as Head of Recoveries in September 2019. • Academic Qualifications: Holds an MBA from the University of Wolverhampton and a Bachelor’s degree specializing in Real Estate from the University of Sri Jayewardenepura. • Strategic Focus: His leadership aims to strengthen risk management, operational efficiency, and sustainable growth within the company.

Banking & Financial Services
Read more →

📈 Digital Mobility Solutions Lanka Appoints Priyanthini McNair to Board

• New Leadership: Digital Mobility Solutions Lanka PLC (PickMe) has appointed Priyanthini McNair as an Independent Non-Executive Director to strengthen its board governance and strategic growth. • Executive Profile: McNair brings over 25 years of global banking and corporate finance experience, having previously served as Global Co-Head of Corporate Coverage and Senior Managing Director at Emirates NBD Group, managing a multi-billion-dollar international portfolio. • Global Track Record: Her career includes over two decades at HSBC across major financial hubs including the UK, Hong Kong, MENAT, India, and Singapore, alongside early career audit training at EY and PwC in Sri Lanka. • Key Expertise: She holds CFA, CA Sri Lanka, and CIMA qualifications, offering high-level expertise in capital allocation, risk governance, ESG-aligned financing, and business strategy relevant to modern corporate governance.

Technology & Digital Services
Read more →

🏢 Leadership Changes at CT Land Development: Joseph Page Named Chairman, Indira Malwatte Joins Board

Sri Lanka’s real estate and property development sector saw key board appointments at CT Land Development PLC, effective 21 August 2026: • New Non-Executive Chairman: Joseph Page assumes the role, bringing over 40 years of private sector management expertise within the CT Holdings Group. • Corporate Background: Page currently serves on the boards of C T Holdings PLC, Cargills (Ceylon) PLC, Kotmale Holdings PLC, and several group subsidiaries spanning the real estate and asset management sectors. • New Independent Non-Executive Director: Indira Malwatte, former and first female Chairperson of the Sri Lanka Export Development Board (EDB), joins the board. • Strategic Expertise: Malwatte brings over 40 years of international experience across export promotion, agriculture, SME development, and supply chain management, backed by previous leadership roles in international projects with the World Bank, GIZ, and JETRO. • Current Directorships: She also serves as Chairman of Samson International PLC and holds directorships at Cargills (Ceylon) PLC, Kotmale Holdings PLC, and Lanka Shipping and Logistics Ltd. The appointments reinforce board governance and strategic leadership for the group's property development interests.

Construction & Real Estate
Read more →

👔 Jonathan Alles Appointed Chairman of Singer Finance

• Executive Transition: Seasoned banking professional Jonathan Alles has been appointed as the Chairman of Singer Finance (Lanka) PLC, effective 12 September 2026. He previously joined the board on 5 March 2026. • Leadership Background: Alles brings over 37 years of experience in the banking and financial services sectors. He was formerly the MD/CEO of Hatton National Bank PLC (HNB) and served as Chairman of the Sri Lanka Banks Association and Asian Bankers Association. • Industry Experience: He has held key leadership positions across several major financial and corporate entities, including HNB Finance PLC, Acuity Partners, and Lanka Clear Ltd, alongside international stints with HSBC and National Bank of Abu Dhabi. • Qualifications: Holds a First Class MBA in Finance from the University of Stirling, UK, and is an Associate Member of the Institute of Bankers of Sri Lanka.

Banking & Financial Services
Read more →

🤝 New Chinese Ambassador Wei Huaxiang Assumes Office in Sri Lanka

Wei Huaxiang has officially assumed duties as the new Chinese Ambassador to Sri Lanka, presenting credentials to President Anura Kumara Dissanayake and replacing outgoing envoy Qi Zhenhong. • Diplomatic Focus: Courtesy call paid on Foreign Minister Vijitha Herath, with discussions focused on strengthening long-standing bilateral relations and expanding cooperation across multiple sectors. • Economic Expertise: Envoy brings an extensive background in economic administration, international trade regulation, and global commercial policy from China’s Ministry of Commerce and Shandong Provincial Government. • Key Portfolios: Served as Consul General in Ho Chi Minh City, Vietnam (2022–2025), overseeing major trade, investment, and cross-border economic portfolios; holds a doctorate with expertise in WTO integration, digital trade infrastructure, and balance-of-payments policies. • Sri Lanka Context: The appointment comes at a crucial period for bilateral economic ties, foreign direct investment (FDI), trade policy alignment, and debt restructuring discussions.

Economy-wide / Cross-sector
Read more →

👔 Dr. Prasad Samarasinghe Appointed Chairman of HNB Finance

HNB Finance PLC has announced the appointment of Dr. Prasad Samarasinghe as Chairman, effective 28 August 2026. He succeeds Rajive Dissanayake, who is retiring following nine years of service. • Corporate Leadership Change: Dr. Samarasinghe joined the board of HNB Finance in February 2024 as a Nominee Director of Hatton National Bank PLC, overseeing audit, strategy, technology, and risk management. • Executive Track Record: Brings nearly 30 years of experience across the banking, telecommunications, ICT/BPM, and corporate governance sectors. He currently serves on the board of Hatton National Bank PLC and holds directorships at Hayleys Fibre PLC and Chemanex PLC. • Strategic Focus: His background in cybersecurity, digital infrastructure, and regulatory compliance will guide the company through an evolving landscape of digital transformation and financial sector risk management.

Banking & Financial Services
Read more →

🏛️ Chandana Guniyangoda Assumes Duties as New Chairman of People’s Bank

• Milestone Governance Reform: Marks a key development in Sri Lanka's state-owned banking sector as Guniyangoda becomes the first Chairman of a state-owned licensed commercial bank appointed as an Independent Non-Executive Director under the IMF-supported reform framework (CBSL Banking Act Directions No. 05 of 2024). • Leadership & Background: A Fellow of CA Sri Lanka (FCA) and CMA Sri Lanka (FCMA) with over 28 years of experience, including 19 years in commercial banking. • Key Experience: Former roles include Assistant Vice President at NDB Bank, ALCO Officer at Sampath Bank, and Group CFO of MG Group. He also holds positions as Independent Chairman of People’s Insurance PLC and Board Member at New Vithanakande Tea Factory Ltd.

Banking & Financial Services
Read more →

🏦 Seylan Bank Appoints Krishan Thilakaratne as Deputy Chairman

Seylan Bank PLC has named Non-Executive Director Krishan Thilakaratne as the Deputy Chairman of its Board, effective 17 August 2026. • Leadership & Career Track: - Joined Seylan Bank in 1990 as a Banking Assistant before moving to LOLC Group in 1995. - Brings over 31 years of experience across management, credit, factoring, portfolio management, and Islamic finance. - Currently serves as Director/CEO of LOLC Finance PLC and is on the Senior Management Team of LOLC Holdings PLC. • Governance & Industry Footprint: - Has served on the Seylan Bank Board as a Non-Executive Director since 2018. - Former Chairman of the Finance Houses Association of Sri Lanka (FHASL) and former Board Member of the Credit Information Bureau of Sri Lanka (CRIB). - Holds extensive board-level international exposure across Southeast Asia, Central Asia, and Egypt. • Qualifications: - Passed Finalist of CIMA (UK), Associate Member of IBSL (AIB), and alumnus of the Harvard Business School Strategic Leadership Training Program in Microfinance.

Banking & Financial Services
Read more →

👔 Abans PLC Appoints Buddhika Dharmawardene as New CEO

• Executive Leadership Change: Abans PLC has officially appointed Buddhika Dharmawardene as its new Chief Executive Officer, effective 20 August 2026. • Decades of Experience: Dharmawardene brings over 26 years of experience within the Abans Group, having joined the company on 1 November 1999. • Career Trajectory: Prior to this appointment, he held multiple leadership roles, including Brand Manager, Deputy Director, Chief Marketing Officer, and most recently, Director of Operations (appointed March 2023). • Qualifications & Impact: Holds an MBA (Merit Pass) from the University of Wales, UK, and completed Executive Education at NUS Business School. He has played a key role in driving business growth, operations, brand development, and strategic expansion across the company's core operations.

Retail & E-commerce
Read more →

WSO2 Names Harry Ault as New CEO to Drive Next Growth Phase 📈

• Leadership Transition: Global open-source enterprise software leader WSO2 has appointed Harry Ault as Chief Executive Officer. He takes over day-to-day leadership immediately, succeeding Founder and former CEO Dr. Sanjiva Weerawarana, who stepped down in May 2026. Chief Revenue Officer Devaka Randeniya served as Acting CEO during the transition. • Executive Track Record: Ault brings over 20 years of global go-to-market and revenue leadership experience. He previously served as Chief Revenue Officer at AI inference chip technology company SambaNova Systems. His appointment follows key C-suite expansions at WSO2, including new CFO and CMO appointments. • Strategic Focus for ICT/BPM: WSO2 aims to scale its global customer base of over 700 enterprise organizations and expand its ecosystem across open-source and partner networks. The strategy centers on advancing its Trusted AI Governance vision through the WSO2 Agentic Enterprise Fabric (AEF), integrating API management, identity, engineering, and agent platforms.

Technology & Digital Services
Read more →

Suranjith Wewita Appointed New SLTDA Chairman 📈

• Leadership Change: Suranjith Wewita has been appointed Chairman of the Sri Lanka Tourism Development Authority (SLTDA) by Tourism Minister Vijitha Herath. He officially received his appointment letter yesterday. • Role Division: Buddhika Hewawasam continues in his dual/separate role as Chairman of the Sri Lanka Tourism Promotion Bureau (SLTPB). • Professional Background: • Extensive corporate experience in banking (Seylan Bank), financial management, deposit mobilisation, and corporate crisis management. • Active in the tourism sector as a tourism entrepreneur and trade union leader. • Current Engagements: • Member of the Presidential Task Force for Tourism Development. • Secretary of the All Ceylon Tourism Service Providers Association. • Strategic Focus: The Tourism Ministry highlighted that Wewita's financial expertise and leadership will steer the regulatory body to drive growth and sustainability in Sri Lanka's tourism sector.

Tourism, Hospitality & Leisure
Read more →

Market News

(71)

📈 SEC Defends International Forums as Singapore Equity Investments Triple

• Capital Markets & Foreign Investment: Sri Lankan equity purchases originating from Singapore reached Rs. 7.7 Bn in the 12 months following the August 2025 Invest Sri Lanka Forum, marking a 196% YoY surge compared to Rs. 2.6 Bn in the preceding period. • Market Activity: Foreign participation in stock market turnover rose to 9%, up from 6% in 2025. However, total foreign involvement remains significantly lower than pre-economic crisis levels of 40%. • Key Context: Responding to critics, the SEC highlighted that investment decisions involve a 6–12 month due diligence process. The regulator affirmed that joint CSE roadshows are essential to capital market development and sustaining international engagement to rebuild overseas participation.

Capital Markets & Investment
Read more →

🇱🇰 Sri Lanka Rupee Marginally Weakens as Treasury Bond Yields Rise 📈

• Currency Movement: The Sri Lankan Rupee (LKR) closed slightly lower against the US Dollar (USD) in the spot market at 328.45/60, compared to 328.30/60 recorded on the previous day. • Bond Market Trends: Treasury bond yields broadly closed higher across key maturities, signaling upward movement in sovereign borrowing costs. • Short-Term Maturities: • 15.09.2027 bond: 9.55/75% (down from 9.55/85%) • 15.02.2028 bond: 9.95/10.05% (down from 9.90/10.00%) • Mid-to-Long-Term Maturities: • 15.12.2029 bond: 10.35/45% (up from 10.30/38%) • 01.08.2030 bond: 10.65/70% (up from 10.48/50%) • 15.10.2030 bond: 10.68/75% (up from 10.52/58%) • 01.02.2031 bond: 10.70/77% (up from 10.57/62%) • 15.12.2032 bond: 11.10/20% (up from 11.00/10%) • 15.06.2033 bond: 11.40/50% • 15.10.2034 bond: 11.65/75% (up from 11.62/65%) • 15.08.2036 bond: 11.80/90% (up from 11.78/85%)

Capital Markets & Investment
Read more →

Sri Lanka Raises Extra Rs8Bn via T-Bill Tap Facility 📉

• Overall Figures: The Public Debt Management Office raised an additional Rs. 8 Bn via its on-tap facility, pushing total T-bill issuances for the week to Rs. 88 Bn (after raising Rs. 80 Bn at Wednesday's auction). Total market subscription reached Rs. 23.83 Bn. • Tenor & Yield Breakdown: • 3-Month: Average rate at 8.96% • 6-Month: Average rate at 9.27% • 12-Month: Average rate at 9.81% • Market Context: Government securities tap sales provide crucial short-term liquidity, helping fund national fiscal needs while supporting financial sector stability and capital market depth.

Capital Markets & Investment
Read more →

CBSL Open Market Operations Summary – 03 Sept 2026 📈

• Money Market Operations • Call Money: Weighted average rate stood at 8.86% (range: 8.80%–8.91%), total gross volume reached Rs. 53,510 Mn (Net: Rs. 52,260 Mn). • Repo Market: Weighted average rate recorded at 8.91% (range: 8.86%–8.95%), total gross volume hit Rs. 66,780 Mn (Net: Rs. 65,030 Mn). • Open Market Operations (OMO) Auctions • Overnight Repo Auction: Offered Rs. 40,000 Mn; received and accepted Rs. 23,200 Mn at a weighted average yield of 8.70% (range: 8.70%–8.71%). • Short-Term Repo Auction (6-day maturity): Offered Rs. 40,000 Mn; received and accepted Rs. 15,000 Mn at a flat weighted average yield of 8.75%. • Standing Facilities & CBSL Holdings • Standing Deposit Facility: Rs. 77,645 Mn utilized. • Standing Lending Facility: Rs. 760 Mn utilized. • Central Bank Holdings: Treasury Bills/Bonds face value totaled Rs. 2.49 Tn (Book value: Rs. 1.55 Tn).

Capital Markets & Investment
Read more →

📈 Sri Lanka Stocks Close Up; ASPI Gains 0.33%

• Market Indices: All Share Price Index (ASPI): Up 0.33% (+69.47 points) to close at 21,395.11. S&P SL20: Up 0.40% (+23.73 points) to close at 6,007.23. • Turnover & Key Sectors: Total Market Turnover: Rs 2.45 Bn. Sector Leader: Materials led the turnover, generating Rs 600.73 Mn. • Top Gainers & Drag: Top Gainers: Haycarb (+6.16% to Rs 215.50), Dipped Products (+6.02% to Rs 61.60), Royal Ceramics (+4.13% to Rs 47.90), Access Engineering (+2.50% to Rs 77.90), and Dialog Axiata (+0.87% to Rs 46.50). Top Loss Contributors: SANASA Development Bank (-3.61% to Rs 48.10), Pan Asia Banking Corp (-2.61% to Rs 52.30), Hatton National Bank (-0.72% to Rs 377.25), and DFCC Bank (-0.60% to Rs 125.00). • Corporate Action: Maharaja Foods issued an addendum for its final scrip dividend, clarifying an ordinary resolution will be presented at an EGM on September 25, 2026, following its AGM.

Capital Markets & Investment
Read more →

Rupee Strengthens Spot-On, Bond Yields Mixed & Stocks Gain 📈

• Exchange Rate: The Sri Lankan rupee appreciated to 328.25/35 per US dollar in the spot market, up from 328.30/60. Telegraphic transfer rates stood at 324.00 buying / 333.00 selling for the US dollar, 373.01 buying / 386.79 selling for the euro, and 435.83 buying / 449.93 selling for the British pound. • Bond Market: Treasury bond yields showed mixed movement across maturities: - 15.12.2029: 10.35/40% (down from 10.30/38%) - 01.08.2030: 10.55/60% (up from 10.48/50%) - 15.10.2030: 10.55/65% (up from 10.52/58%) - 15.10.2032: Quoted at 11.00/10% - 15.01.2033: 11.10/25% (up from 11.10/20%) - 15.10.2034: 11.62/70% (up from 11.62/65%) - 15.08.2036: 11.80/85% (up from 11.78/85%) • Equity Market: The Colombo Stock Exchange closed on a positive note. The All Share Price Index (ASPI) gained 0.30% (+63.50 points) to 21,389, while the S&P SL20 rose 0.30% (+17.77 points) to 6,001.

Capital Markets & Investment
Read more →

📈 Sri Lanka Stocks Open Higher: ASPI and S&P SL20 Up in Morning Trade

• Market Indices: The benchmark All Share Price Index (ASPI) gained 0.27% (+57.33 points) to reach 21,382.97. The more liquid S&P SL20 index rose 0.42% (+25.18 points) to 6,008.68. Total market turnover stood at LKR 95.52 million. • Key Gainers & Losers: Top positive contributors driving index momentum included John Keells Holdings (+1.03% to LKR 19.70), Dialog Axiata (+1.52% to LKR 46.80), Haycarb (+3.33% to LKR 209.75), Hayleys (+0.76% to LKR 232.00), and Sampath Bank (+0.36% to LKR 139.00). Dragging the index were Colombo Land and Development Company (-5.14% to LKR 46.10) and The Lanka Hospitals Corporation (-2.65% to LKR 110.00). • Sector & Corporate Highlights: • The Materials sector led market turnover with LKR 24.19 million. • Co-operative Insurance Company announced the redemption of 1,100,000 preference shares for a total consideration of LKR 16.61 million (including a 9% p.a. cumulative dividend) scheduled for settlement on August 31, 2026.

Capital Markets & Investment
Read more →

📈 T-Bill Yields Drop for 8th Straight Week; Rs. 80 Bn Auction Fully Subscribed

• T-Bill Auction Highlights: Yields declined across all tenors at the latest primary auction. The sharpest drop was on the 182-day bill, falling 17 bps to 9.27%, while the 91-day fell 10 bps to 8.96%, and the 364-day eased 8 bps to 9.81%. The PDMO fully raised the offered Rs. 80 Bn, with total bids oversubscribing the auction by 2.54 times. • Secondary Bond Market: Yields saw volatile, two-way movement, closing higher overall due to profit-taking and rising global oil prices driven by Middle East tension. However, a partial recovery was staged following strong T-bill auction demand. Activity remained robust with notable trading across 2028–2036 maturities. • Money Market Liquidity: The net liquidity surplus stood at Rs. 122.05 Bn. CBSL absorbed Rs. 45 Bn via overnight and term repo auctions. Weighted average rates for overnight call money and repo were 8.85% and 8.91%, respectively. • Foreign Exchange: The spot USD/LKR closed slightly weaker at Rs. 328.30/328.70 compared to Rs. 328.00/328.10 on the previous day. Total spot traded volume stood at $ 48.65 Mn on Sept 1.

Capital Markets & Investment
Read more →

📈 CSE Ends Marginally Up Amid Muted Sentiment and Geopolitical Tensions

• Market Indices & Overview: The Colombo Stock Exchange ended slightly higher yesterday despite investor caution over Middle East tensions and rising global oil prices. The ASPI gained 0.03% (+7.33 points) to close at 21,325.64, while the S&P SL20 fell 0.05% (-2.95 points) to 5,983.50. Market breadth was weak, with 129 stocks declining versus 76 advancing. • Turnover & Foreign Activity: Total market turnover reached over Rs. 1.2 Bn on 50.9 Mn shares traded. Foreign investors were net sellers, recording a net outflow of Rs. 7.2 Mn. Retail investors drove trading activity, while high-net-worth participation remained muted. • Sector Highlights: • Banking Sector: Dominated market turnover, contributing 20% of the total, led by high-net-worth interest in Sampath Bank (flat at Rs. 138.50) and Hatton National Bank (flat at Rs. 380). The sector index edged down 0.02%. • Materials & Other Sectors: The materials sector was the second-highest turnover contributor with its index gaining 0.87%, supported by mixed trading in Haycarb and Sierra Cables. Food, beverage & tobacco also saw strong turnover, combining with materials to represent 34% of overall market turnover. • Key Stock Movers: Top positive ASPI contributors included CINS, HAYC, DIPD, NDB, and AEL. Major drag came from JKH, BIL, BREW, CARS, and DFCC. Commodities saw retail interest with tea firm Asia Siyaka Commodities rising Rs. 0.70 to close at Rs. 15.90.

Capital Markets & Investment
Read more →

🇱🇰 Sri Lanka Rupee Weakens Slightly to 328.30/60; Bond Yields Mostly Higher 📈

• Foreign Exchange: The Sri Lankan rupee (LKR) closed weaker at 328.30/60 against the US dollar (USD) in the spot market on Wednesday, down from 328.00/10 recorded on the previous day. • Government Securities / Bonds Market: Treasury bond yields closed broadly higher across most maturities: - 2027 Maturity: 15.09.2027 bond rose to 9.55/85% (from 9.55/70%). - 2028 Maturity: 15.02.2028 bond dropped to 9.90/10.00% (from 9.95/10.00%). - 2029 Maturity: 15.12.2029 bond edged up to 10.30/38% (from 10.25/30%). - 2030 Maturities: 01.08.2030 bond rose to 10.48/50% (from 10.42/44%); 15.10.2030 bond rose to 10.52/58% (from 10.48/50%). - 2031–2032 Maturities: 01.02.2031 bond closed at 10.57/62%; 15.12.2032 bond increased to 11.00/10% (from 10.90/95%). - Long-Term Maturities: 15.01.2033 bond rose to 11.10/20%; 01.11.2033 bond closed at 11.43/50%; 15.10.2034 bond rose to 11.62/65% (from 11.40/50%); 15.08.2036 bond rose to 11.78/85% (from 11.75/78%).

Capital Markets & Investment
Read more →

📈 CSE Net Foreign Outflow Exceeds Rs. 55.7 Bn YTD Amid Record August Selling

• Overall Market Performance: • Year-to-date (YTD) net foreign outflow more than doubled YoY to Rs. 55.7 Bn (up from Rs. 22.34 Bn in 2025). • Foreign sales rose 44.6% YoY to Rs. 85.3 Bn, while purchases fell 19% YoY to Rs. 29.6 Bn, resulting in sales tripling purchases. • August registered a record high monthly net foreign outflow of Rs. 19.46 Bn, making up 19.3% of total monthly market turnover. • Key Corporate Counter Movements: • Top Foreign Inflows: Led by United Motors Lanka PLC (Rs. 1.03 Bn), followed by Melstacorp PLC (Rs. 240.1 Mn) and Seylan Bank PLC voting shares (Rs. 197.6 Mn). • Top Foreign Outflows: Driven by Commercial Credit and Finance PLC (Rs. 9.58 Bn; ~50% of August total), Cargills (Ceylon) PLC (Rs. 4.07 Bn), and R I L Property PLC (Rs. 2.7 Bn). Together, these three counters comprised 84% of August's net foreign exit. • Market Indices & Valuation: • Despite foreign exits, local market sentiment held firm: the benchmark ASPI gained 1% MoM to 21,339 points, and the S&P SL20 rose 1.2% MoM to 6,010 points. • Average daily turnover jumped 94.2% MoM to Rs. 3.6 Bn in August. • Market P/E ratio expanded to 11.2x (vs. 9.8x a year earlier), reflecting higher valuations relative to earnings.

Capital Markets & Investment
Read more →

CSE Trading Mixed Midday; Banking Sector Drives Market Turnover 📈

• Overall Figures: The benchmark ASPI dipped marginally by 0.07% (-14.27 points) to 21,304.04, while the more liquid S&P SL20 rose 0.09% (+5.25 points) to 5,991.70. Market turnover stood at LKR 466.2 Mn. • Sector Breakdown: The banking sector dominated market liquidity, leading total turnover with LKR 179.15 Mn. • Top Movers: Key positive contributors included Ceylon Cold Stores (+2.05% at LKR 124.25), Haycarb (+1.40% at LKR 198.75), and Industrial Asphalts (+20.00% at LKR 0.60). Major drag came from Browns Investments (-5.26% at LKR 5.40), Commercial Credit (-4.66% at LKR 102.25), and DFCC Bank (-0.60% at LKR 125.00). • Corporate Updates: SANASA Life Insurance announced its debt securities will remain on the CSE Watch List following audit disclosures. The firm plans to address this within 15 months by upgrading its credit rating to investment grade through equity capital raising.

Capital Markets & Investment
Read more →

Startups & Entrepreneurship

📈 Bridging Academia & Industry to Drive Sri Lanka's SME Growth

• Economic Reality: SMEs contribute 52% to Sri Lanka's GDP and 45% to employment. With 1M youth entering the workforce over the next decade against just 300K expected formal jobs, university-industry partnerships are critical for job creation. • National Target: The National SME Strategy Framework (SME NEXUS) aims to boost the sector's GDP contribution from 52% to 80% through digital enablement, incubation, value-chain integration, and growth finance. • Industry Case Studies: • SLIIT's Bentley CAE Research Unit secured over US$ 0.33 Mn in funding across 20+ projects for UK-based Bentley Motors. • Student-led innovations highlight growth potential across ICT/BPM, AI tools, and tech-driven solutions (e.g., Team Akura's AI learning platform and SmartWheel AI navigation system). • Ecosystem Priorities: To build export-ready, technology-enabled enterprises, universities require deeper industry engagement through corporate mentorship, pilot environments, commercialization pathways, and IP protection.

Education & Training
Read more →

📈 EDB Drives Digital Pathways for Women Exporters

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

Economy-wide / Cross-sector
Read more →

🌱 EthicalX Opens Applications for 2026 Climate Innovation Cohort

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

Economy-wide / Cross-sector
Read more →

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

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

Professional & Business Services
Read more →

Awards & Recognitions

(30)

🏆 SLT-MOBITEL Wins Three Honours at National Business Excellence Awards 2026

SLT-MOBITEL secured three awards at the National Business Excellence Awards 2026, organized by the National Chamber of Commerce of Sri Lanka at Shangri-La Colombo. The recognitions highlight the group's operational leadership and ongoing expansion into broader digital solutions and tech services. • Key Accolades & Winners: • SLT PLC: Runner-up in Infrastructure & Utilities Sector Category. • SLT PLC: Runner-up in Excellence in Performance Management Criteria. • eChannelling PLC: Gold Award in ICT Services Sector Category. • Sector Impact: • Telecommunications & Infrastructure: Highlighted for operational excellence, strategic leadership, and high-performance management. • ICT/BPM & Digital Healthcare: ICT/BPM sub-sector growth driven by eChannelling’s digital healthcare platforms, improving service delivery and healthcare accessibility across Sri Lanka. • Evaluation Standard: • Assessed through a multi-stage process by an independent Technical and Financial Evaluation Committee alongside an independent panel of judges. • Evaluated across strategy, governance, leadership, operational performance, and sustainability metrics.

Telecommunications & Media
Read more →

Huawei Named Leader in 2026 Gartner® Enterprise Storage Magic Quadrant 📈

• Market Position: Huawei was recognized as a Leader in the Gartner® Magic Quadrant™ for Enterprise Storage Platforms, 2026. Notably, it stands as the only non–North American vendor to achieve a spot in the Leaders Quadrant for this period. • Product Capabilities: The recognition highlights Huawei OceanStor Data Storage for advancing enterprise technology through: - High-efficiency and unified AI data platform capabilities. - Optimized capacity density and high energy efficiency. - Future-proof data resilience suited for diverse enterprise needs. • Global Footprint & End Markets: Huawei Data Storage currently operates in over 150 countries and regions globally. Key global sectors served include telecommunications, financial services, manufacturing, healthcare, government, and public utilities—sectors crucial for driving digital infrastructure and economic expansion.

Technology & Digital Services
Read more →

🏆 Jetwing Vil Uyana Secures PATA Gold Award 2026 for Sri Lanka

• Award Recognition: Jetwing Vil Uyana was named the winner of the Pacific Asia Travel Association (PATA) Gold Award 2026 in the Ecosystem and Wildlife Conservation Initiative category, making it the only Sri Lankan hospitality brand to win a PATA Gold Award this year. • Conservation Impact: A 2025 study by the University of Colombo comparing baseline data from 2005 revealed significant species diversity growth across plant, bird, reptile, amphibian, and fish populations at the 28-acre wetland resort. • Key Highlights: • Represents the property's third PATA Gold Award for environmental stewardship in the hospitality and tourism sector. • Dedicated 3 acres specifically for threatened grey slender loris conservation, alongside an information center. • Waterways act as rainwater harvesters and groundwater replenisher systems, supporting local agriculture and climate resilience in the Cultural Triangle.

Tourism, Hospitality & Leisure
Read more →

🏆 CEAT Retains Top Spot as Sri Lanka’s Most Valuable Tyre Brand

CEAT has been named Sri Lanka’s Most Valuable and Strongest Tyre Brand in the 2026 Brand Finance 'Sri Lanka 100' report, reflecting strong market leadership in the national automotive and manufacturing sector. • Brand Valuation & Performance: CEAT's brand value grew to Rs. 2,544 Mn in 2026 (up from Rs. 2,325 Mn in 2025), climbing to 43rd place among Sri Lanka's 100 most valuable brands. • Brand Strength: Maintained a Brand Strength Index (BSI) score of 80.3/100 with an AAA- rating, ranking as the 11th strongest brand overall across all sectors in Sri Lanka and the 4th strongest tyre brand globally (BSI 84.9). • Market & Economic Impact: • Meets ~50% of Sri Lanka's domestic automotive tyre demand with over 1.6 Mn tyres sold annually. • Supports local manufacturing and export diversification, exporting ~20% of its Sri Lankan production to 16 countries. • Committed Rs. 4.5 Bn in fresh local investments, building on over Rs. 8.5 Bn invested in Sri Lanka over the past decade.

Manufacturing & Industrials
Read more →

🏆 Hayleys Fentons Sweeps 18 Wins at National Project Management Excellence Awards 2026

• Overall Achievement: Hayleys Fentons named Best Managed Project Organisation of the Year and Overall Winner at NPMEA 2026, securing 18 awards—the highest bagged by any firm this year. • Event Context: Organized by the Project Management Institute (PMI) Colombo Sri Lanka Chapter at the 9th National Project Management Conference at Waters Edge. • Sector Diversity: Awards recognized excellence across construction & infrastructure, power & energy, ICT & digital transformation, tourism & hospitality, manufacturing, marketing & communications, human capital development, and environmental conservation. • Economic Context: Demonstrates strong project execution capability and technical innovation, supporting key national growth sectors and sustainable infrastructure development in Sri Lanka.

Manufacturing & Industrials
Read more →

🏆 DCSL Named Sri Lanka’s Most Valuable Spirits Brand by Brand Finance

Distilleries Company of Sri Lanka PLC (DCSL) has been awarded Sri Lanka’s Most Valuable Spirits Brand by Brand Finance, highlighting the company’s strong portfolio and brand legacy established since 1913. • Corporate Profile & Evolution: • Operates across spirits manufacturing, plantations, packaging, logistics, and investments. • Continuous investment in modern manufacturing capabilities, technology, and operational excellence to drive growth. • Export Footprint & Reach: • Expanding international presence with spirits exports reaching key overseas markets including Australia, South Korea, the Maldives, and China. • Strategic Focus: • Focus remains on product innovation, expanding manufacturing capabilities, maintaining quality standards, and pursuing responsible business practices.

Food, Beverage & Consumer Goods
Read more →

📈 Singer Named Sri Lanka’s Fastest Growing & Most Valuable Retail Brand 2026

Singer has been recognized as Sri Lanka’s Fastest Growing Brand and the Most Valuable Retail (General) Brand in Brand Finance’s Top 100 Most Valuable Brands 2026 report. • Brand Performance & Ranking • Brand Value: Rs. 13.888 Bn • Brand Rating: AAA- • Overall Rank: 14th among Sri Lanka’s Top 100 Most Valuable Brands (up 3 places) • Sector Diversification & Footprint • Evolved over 149 years from sewing machines to key national retail sectors including consumer electronics, home appliances, smartphones, light automobiles, agriculture, connectivity, renewable energy, manufacturing, and financial solutions. • Business growth driven by category expansion, islandwide retail reach, and strong after-sales service capabilities. • Future Focus & Operations • Accelerating digital transformation via omnichannel retailing, AI-driven customer engagement, and data analytics. • Balancing technology-driven solutions with extensive physical accessibility across Sri Lanka.

Retail & E-commerce
Read more →

🏆 Arctek Innovations Secures Key International Quality & Food Safety Certifications

• Strategic Milestone: Sri Lankan food-grade adhesive manufacturer Arctek Innovations Ltd. has officially achieved compliance with internationally recognized standards, including ISO 9001:2015 (Quality Management), ISO 22000:2018 (Food Safety Management), Good Manufacturing Practices (GMP), and HACCP. • Scope of Operations: The certifications cover the full operational spectrum—manufacturing, packaging, storage, and dispatch—of its polymer-based (PVA) and starch-based adhesives used in commercial food packaging and manufacturing sectors. • Operational Enhancements: The process involved upgrading Standard Operating Procedures (SOPs), embedding risk-based process controls, and enhancing internal auditing, supplier management, product traceability, and preventive maintenance. • Market Impact & Growth: Strengthens the company’s competitive edge to meet rising local and global demand for compliant, high-safety packaging materials, establishing a strong foundation for supply chain trust and international market expansion.

Manufacturing & Industrials
Read more →

🏆 Sysco LABS Named Top Women-Friendly Workplace in 2026

Sysco LABS, the Global Innovation Center of Sysco, was named one of Sri Lanka’s Most Outstanding Women-Friendly Workplaces at the Women-Friendly Workplace Awards 2026. Organised by Satynmag, the awards evaluate organizations on measurable progress and long-term career growth for women in the workforce. • Key Highlights: - Reached its highest recognition to date at the annual awards. - Progression tracked from an "Honorable Mention" in 2023 and "Best Women in STEM Project" in 2025 to the top overall recognition in 2026. - Focuses on empowering female professionals to progress into leadership roles within Sri Lanka's IT & technology sector.

Technology & Digital Services
Read more →

DFCC Aloka Partners with WCIC for Prathibhabhisheka Awards 2026 📈

• DFCC Aloka has partnered with the Women's Chamber of Industry and Commerce (WCIC) as the Diamond Sponsor and Official Banking Partner for the fifth consecutive year for the WCIC Prathibhabhisheka Women Entrepreneur Awards 2026. • The collaboration aims to provide Sri Lankan women entrepreneurs with greater visibility, financial literacy, advisory support, and long-term banking solutions across all enterprise stages. • DFCC Bank highlighted that supporting women-led enterprises drives national economic growth, employment, exports, and community development.

Banking & Financial Services
Read more →

🏆 DFCC Bank Clinches Two Regional Banking Awards for Growth and Profitability

• Overall Achievement: DFCC Bank won two national-level awards at the 4th ICC Emerging Asia Banking Conclave & Awards 2026, held in New Delhi, India. • Recognitions Won: - Best Performance on Growth - Sri Lanka - Best Performance on Profitability - Sri Lanka • Key Performance Drivers: Organized by the Indian Chamber of Commerce (ICC), the awards honor DFCC Bank’s balanced strategy of business expansion alongside balance sheet discipline, risk management, and operational resilience. • Leadership Insight: CEO Thimal Perera highlighted that sustainable profitability and growth strengthen the bank's capacity to invest in technology, workforce, and enhanced customer service, supporting long-term performance in Sri Lanka's banking & financial services sector.

Banking & Financial Services
Read more →

🎓 Harini Amarasuriya Patronizes Sarasavi Dhiriya Abhiman Scholarship Programme in Jaffna

Prime Minister Dr. Harini Amarasuriya recently presided over the second edition of the "Sarasavi Dhiriya Abhiman" scholarship initiative, held at the Jaffna District Secretariat. • Programme Focus: Dedicated scholarship support aimed at empowering university students living with disabilities. • Event Location: Jaffna District Secretariat. • Key Dignitaries: Held under the patronage of Prime Minister Dr. Harini Amarasuriya. • Socio-Economic Impact: Enhances inclusive higher education and social integration, supporting human capital development within the national context.

Education & Training
Read more →

Real Estate

(10)

‘Rich Dad Poor Dad’ Author Robert Kiyosaki Reveals $1.2 Bn Debt Strategy 📈

• Key Financial Details: Best-selling author Robert Kiyosaki disclosed a massive $1.2 Bn in debt, frame-worked not as a failure but as a strategic wealth-building approach using leveraged real estate assets. • Individual Exposure: The total debt is shared across business partnerships owning ~1,500 apartment units. Kiyosaki’s personal liabilities are estimated between $30 million and $60 million, supported by an estimated annual income of $3 million. • Investment Strategy: The tactic relies on acquiring tax-free loans against property equity while isolating assets within individual Limited Liability Companies (LLCs) to establish protective corporate firewalls. _Note: While relevant to global real estate and leverage strategies, this news contains no direct economic data regarding Sri Lankan domestic markets, tea, apparel & textiles, or local ICT/BPM sectors._

Construction & Real Estate
Read more →

Home Lands Speeds Ahead: 60% Piling Done at Port City 📈

• Construction Progress: Real estate giant Home Lands completed 60% of piling works for its Central Park Boulevard Port City Colombo development, running 10% ahead of schedule within three months of launch. • Scale & Operations: A total of 192 piles are being constructed using 9 piling machines, deployed by major contractors Access Engineering PLC, San Piling Ltd. (Sanken Construction), and D P Jayasinghe Piling Company Ltd. • Investment Figures: Represents a project investment of US$ 150 Mn by Home Lands—the largest by a single Sri Lankan developer—with total estimated project value exceeding US$ 300 Mn aimed at driving foreign exchange inflows. • Strategic Expansion: Home Lands has acquired a second adjacent land parcel exceeding 3 acres in Port City's Central Park District to expand its development footprint. • Track Record: Backed by over 5,000 units sold, 3,750+ homes delivered, and 2,850+ units currently under construction across Sri Lanka.

Construction & Real Estate
Read more →

📈 RIUNIT Investor Forum 2026 Spotlights Regional Growth & Real Estate

Diplomats, developers, and financiers convened in Malé on 11 August 2026 for the RIUNIT Investor Forum to explore FDI trends, regional collaboration, and emerging opportunities in the Maldives and South Asia. • Regional Collaboration & Economic Outlook: • Key themes emphasized cross-border investment, infrastructure, digital commerce, food/energy security, maritime connectivity, and tourism over regional competition. • Keynote address called for innovation-led capital in non-tourism sectors, including sustainable infrastructure, renewable energy, healthcare, and the blue economy. • Sri Lankan real estate presence highlighted via Home Lands Group alongside regional diplomatic leadership. • Maldives Real Estate & Housing Dynamics: • Massive expansion in Hulhumalé apartment supply: total units rose from 656 (2016) to 7,102 (2023). • High-end residential growth: luxury and semi-luxury apartment stock surged from under 500 units (2015) to over 3,000 (2023). • Property valuation surge: top-end transaction prices appreciated from ~$135 per sq. ft. (2016) to ~$230 per sq. ft. (2024). • Infrastructure impact: Sinamalé Bridge cited as a critical catalyst driving real estate valuations and investor confidence. • Key market drivers: demand for Islamic finance, land availability, project financing, and policy stability. • Forum Partners: • Supported by Maldives Islamic Bank, Amãna Takaful, Home Lands Group, HDC, MCDGI, RCC Maldives, and media partner NTV.

Construction & Real Estate
Read more →

Orion City Launches Orion Tower II to Elevate Sri Lanka’s ICT/BPM Infrastructure 📈

• Project Overview: Orion City officially announced the commencement of construction for Orion Tower II in August 2026, targeting completion by January 2029. • Key Features & Capacity: Delivers ~300,000 sq. ft. of Grade A office space. Integrates with Orion Tower I for a combined floor plate of ~36,000 sq. ft. featuring 180-degree Colombo views and flexible, column-free floor plans. • Sustainability & Design: Designed by DP Architects Singapore to target LEED Platinum Certification, reinforcing eco-friendly workplace standards. • Ecosystem & Facilities: Expands Orion City's integrated hub, offering flexible workspaces, childcare, EV charging, fitness, dining, and retail services to support local and foreign ICT/BPM enterprises.

Construction & Real Estate
Read more →

🏛️ Cabinet Approves Revised Rs. 25.6 Bn Agreement for Sethsiripaya Phase III

• Project Overview: The Cabinet approved a revised contract worth Rs. 25.58 Bn with M/s Maga Engineering Ltd. to complete remaining construction on Sethsiripaya Stage III. The project was initiated by the Urban Development Authority (UDA) to expand state administrative office space. • Cost Revision & Breakdown: - Original Estimated Capital Expenditure: Rs. 16.7 Bn (commenced in 2021). - Revised Total Project Cost: Rs. 38.48 Bn (includes past costs, remaining work, taxes, and other expenses). - Remaining Works Contract: Agreed at Rs. 22.76 Bn (excluding completed work value, payables, contingencies, and taxes). • Key Context & Timeline: Construction halted after completing three floors due to economic instability, material shortages, import restrictions, and rising construction sector costs. The project is now being expedited to meet office space demands. • Financing & Allocation: Funding will be shared by allocated institutions according to space usage, including the Energy Ministry, Inland Revenue Department (IRD), State Pharmaceuticals Corporation (SPC), and the UDA.

Construction & Real Estate
Read more →

📈 Ruwanpura Expressway Approval Set to Surge Real Estate Demand

Approval for the procurement of Phase 1 of the Ruwanpura Expressway (Kahathuduwa to Ingiriya) is expected to significantly boost land values along the corridor, according to LankaPropertyWeb (LPW). • Historical Performance (2017–2025): • Ingiriya: Average land asking price surged from Rs. 49,363 to Rs. 344,850 per perch, a 598.59% (7-fold) increase. • Padukka: Recorded a 151.30% growth. • District Comparisons: Outperformed Kalutara District (+123%) and Colombo District (+66.90%) averages. • Investment Returns: Outpaced the current average 12-month commercial bank fixed deposit rate of ~9.04% p.a. • Key Projected Growth Areas: • Primary Beneficiary: Ingiriya is positioned as the next major growth market at the Phase 1 endpoint. • Adjoining Corridors: Demand to strengthen in Polgasowita, Gonapola, Horana, and the interchange hub Kahathuduwa. • Future Regional Expansion: Activity expected to spread toward Kuruwita, Ratnapura, Pelmadulla, Balangoda, Belihuloya, Bandarawela, Ella, and Badulla under later phases. • Economic Impact: • Infrastructure-led connectivity reduces travel times to Colombo, driving residential, commercial, and mixed-use developments. • Offers long-term capital appreciation for property owners, developers, and investors seeking affordable Colombo alternatives.

Construction & Real Estate
Read more →

📈 Colombo Land Valuation Indicator Rises 5.9% in H1 2026

Sri Lanka’s Central Bank reports that the Land Valuation Indicator (LVI) for the Colombo District increased by 5.9% YoY during the first half of 2026, maintaining a moderate growth pace compared to H1 2025. • Overall Growth: LVI and all three sub-indicators expanded both year-on-year (YoY) and compared to the second half (H2) of 2025. • Sub-Indicator Breakdown (YoY): • Residential LVI: Up by 6.7% (leading overall growth) • Commercial LVI: Up by 5.7% • Industrial LVI: Up by 5.2% • Sequential Trend: Growth rates for both residential and industrial real estate segments accelerated compared to the increases recorded in H2 2025, signaling steady demand in key urban property sectors.

Construction & Real Estate
Read more →

🏢 Tilko Blue Ocean Signs BOI Agreement for Jaffna’s Tallest Residential Tower

Tilko Blue Ocean Holdings (Pvt) Ltd. has signed an agreement with the Board of Investment of Sri Lanka (BOI) to construct 'Yarl Royal Palace' in Jaffna, marking a major milestone for real estate and regional development in Northern Sri Lanka. • Project Overview: Located at No. 107, Kandy Road, overlooking Old Park, the project is set to become the tallest residential landmark in the Northern Province. • Development Scale: Features 19 levels in total—including 6 parking levels and 13 residential floors housing 78 premium units. • Economic Impact: Drives regional growth across construction, engineering, logistics, and property management while expanding urban infrastructure and local employment outside the traditional Colombo hub. • Diaspora Capital: Designed as a bridge to attract long-term investment from the global Sri Lankan diaspora (UK, Canada, Australia, Europe) into Northern property markets. • Strategic Significance: Highlights private-sector confidence and signals expanding opportunities in Sri Lanka's regional construction and urban development ecosystems.

Construction & Real Estate
Read more →

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

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

Construction & Real Estate
Read more →

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

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

Construction & Real Estate
Read more →

Uncategorized

(45)

Crown & Commonwealth: Sri Lankan Artist Presents Sun-Printed Artwork to King Charles III 🎨

• Sri Lankan textile designer Ruwanthi Gajadeera presented an original artwork titled Eka Mawakage Daruwo (Children of One Mother) to His Majesty King Charles III in London. • The presentation took place at the Victoria League for Commonwealth Friendship during its 125th anniversary, attended by Sri Lanka's High Commissioner to the UK, H.E. Nimal Senadheera. • The artwork features hand-drawn national flowers of all 56 Commonwealth nations printed via cyanotype—a chemical process exposed solely by sunlight without toxic waste, aligning with sustainable design practices. • Gajadeera, an MA graduate from the Royal College of Art, is developing her studio via InnovationRCA and facilitates art-science research with Humboldt-Universität zu Berlin. • The event highlights international exposure for Sri Lanka's creative and sustainable fashion & textile talents on a global platform.

Other
Read more →

🚨 Nepal-Tibet Border Floods: Death Toll Rises Over 700

• Casualty & Rescue Figures • Confirmed Deaths: 734 in Nepal (up from 675) and 16 in Tibet. • Missing Persons: 2,498 reported missing in Nepal; 546 missing in Tibet. • Rescues Executed: 8,186 individuals safely rescued by nearly 20,000 security personnel. • Impact on Foreign Travelers & Tourism • Foreign Nationals Rescued: 261 foreign tourists rescued in Nepal. • Unaccounted Tourists: 320 tourists missing in Nepal; 261 missing in Tibet across 23 countries (including 15 UK citizens). • Disaster Overview • Devastating flash floods and mudslides severely impacted the Nepal-Tibet border region. • Data based on official updates from Nepal Police, Disaster Management Authority, Nepal Tourism Board, and CCTV.

Other
Read more →

Verdict on 2019 Easter Sunday Attacks Case Fixed for 22 Sept ⚖️

• Key Highlights: The Colombo Permanent Trial-at-Bar will deliver its verdict on 22 September 2026 regarding the 2019 Easter Sunday terror attack case involving 25 accused individuals, including Naufer Moulavi. • Legal Scope: The Attorney General has filed 23,270 charges against the accused under the Prevention of Terrorism Act (PTA), covering conspiracy, aiding and abetting, weapons collection, and attempted murder. • Background & Context: The case stems from the coordinated 21 April 2019 suicide bombings on churches and luxury hotels, which resulted in over 270 deaths and injured hundreds—severely impacting Sri Lanka’s national security and tourism sector.

Other
Read more →

🕯️ In Memory: Anthropological Assessment of Prof. Wimal Dissanayake’s Cinema Legacy

An anthropological critique evaluates the extensive legacy of the late communications scholar Prof. Wimal Dissanayake (1939–2026), focusing on his post-colonial cultural framework Enabling Traditions (2005) and its application to Sri Lankan and South Asian visual media. • Academic Impact: Highlighted heritage as a dynamic tool for indigenous identity and intellectual autonomy rather than a regressive obstacle. Challenged Eurocentric hegemony in film analysis by applying classical Eastern concepts like Rasa (aesthetic flavor) and Dhvani (suggestion) to evaluate directors such as Lester James Peries and Satyajit Ray. Positioned South Asian cinema as a vehicle for communities to process rapid capitalistic modernization. • Key Analytical Limitations: Textual Essentialism: Relied heavily on high classical texts, elite canonical histories, and Sanskritized models, which risks overlooking internal power hierarchies, caste fractures, and subaltern realities. Marginalized Perspectives: Failed to fully capture how lower-caste and subaltern groups often use creative media to dismantle traditional structures rather than find aesthetic harmony within them. Material & Industrial Gaps: Downplayed structural realities such as corporate financing, state censorship, and market distribution networks that govern cultural production. Post-Colonial Paradox: Relied on Western critical theorists (e.g., Walter Benjamin) to validate indigenous frameworks, raising questions about whether the approach truly achieves local intellectual autonomy. • Overall Assessment: While foundational in rescuing Asian cinema from Eurocentric views, scholars note Dissanayake's text-centric models must be balanced with field-based ethnographic research to reflect the material realities of everyday folk life.

Telecommunications & Media
Read more →

🕯️ Parliament Pays Tribute to Music Icon Dr. Nanda Malini

• National Loss: Sri Lankan Parliament observed a minute's silence to honor veteran music icon Dr. Nanda Malini, who passed away at the age of 82. • Government & Opposition Tribute: Prime Minister Dr. Harini Amarasuriya and Opposition Leader Sajith Premadasa praised her nearly seven-decade career, recognizing her immense contributions to Sri Lankan music, culture, social justice, and democracy. • Career Highlights: Debuted in cinema music via 'Ran Muthu Doova' under Dr. W.D. Amaradeva; widely celebrated for her impactful social discourse through works such as 'Pavana' and 'Sathyaye Geethaya'. • Final Rites: Public respects at her residence in Nawala; cremation scheduled for 5:00 p.m. tomorrow at the Borella Cemetery without a formal funeral ceremony, honoring her final wishes.

Telecommunications & Media
Read more →

Sri Lanka Declares 3-Day National Mourning Following Passing of Veteran Musician Nanda Malini

• National Observance: The Government of Sri Lanka has officially declared a three-day national mourning period from 21 to 23 August following the passing of renowned singer Visharada Nanda Malini. • Public Homage: Remains will lie at her residence on Wijayaba Mawatha, Nawala, starting today from 10:00 a.m. for the public to pay their final respects. • Funeral Details: Religious ceremonies are scheduled for 3:30 p.m. tomorrow (22 August), with final rites taking place at 5:00 p.m. at the Borella General Cemetery. • Final Wishes: In adherence to her final wishes, the family confirmed that the cremation will proceed without an official state funeral ceremony.

Telecommunications & Media
Read more →

6th JXG-MHA 9-A-Side Hockey Tournament Set for 22 Aug 👍

• Overview: The 6th edition of the JXG-MHA 9-A-Side Hockey Tournament, sponsored by Janashakthi Group and organized by the Mercantile Hockey Association (MHA), will take place on 22 August at Astro Turf, Colombo 7. • Participation: The event brings together 16 corporate teams across three divisions to drive sports engagement in the corporate sector, featuring national-level players and emerging talent. • Divisions & Key Teams: • Division A: Defending champion Hatton National Bank (HNB), Seylan Bank, Sampath Bank A, Commercial Bank, Hayleys, and apparel & textiles giant MAS Holdings. • Division B: CIAP, Nations Trust Bank, and Browns & Company. • Division C: David Pieris Motor Company, John Keells Holdings, Singer (Sri Lanka), Future Life Holdings, Hemas Holdings, InQube Global, and Sampath Bank B. • Previous Edition Results: In the 5th edition, HNB won the Division A title against Sampath Bank, Browns & Company claimed Division B over Hayleys, and Nations Trust Bank took Division C against David Pieris Motor Company. • Event Details: Matches begin at 8:30 a.m. with live coverage on the MHA Facebook page and Sri Lankan Sports TV YouTube channel.

Tourism, Hospitality & Leisure
Read more →

Suspected Drug Trafficker Shiran Basik Extradited from Dubai to Sri Lanka ⚖️

• Key Action: Sri Lanka Police secured a 72-hour detention order against 48-year-old Shiran Basik following his arrest in Dubai and return to the country on August 14. • Background & Context: Suspected of being a major pharmaceutical & drug trafficking operative, his apprehension aligns with ongoing national security efforts to dismantle illicit trade networks impacting Sri Lanka's domestic safety and national economy.

Other
Read more →

⚠️ Notice: Summary Unavailable

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

Other
Read more →

📈 Sri Lankan Business News Update

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

Other
Read more →

⚠️ Data Unavailable: Could Not Extract Report

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

Other
Read more →

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

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

Other
Read more →

Sustainability, ESG & Corporate Responsibility

(29)

🌱 PM Highlights Sri Lanka’s Sustainable Agriculture Heritage at Bhutan Summit

• Key Event: Prime Minister Dr. Harini Amarasuriya delivered the keynote address at the inaugural Global Conscious Food Systems Summit 2026 at Dungkar Dzong, Bhutan. The summit was jointly organized by the Royal Government of Bhutan, the Conscious Food Systems Alliance (CoFSA), and the UNDP. • Core Focus: Addressing the theme _“Rising to the moment: Igniting consciousness to address the polycrisis,”_ she showcased Sri Lanka’s ancient food systems. She highlighted ancestral practices in production, storage, preservation, and consumption built on harmony with nature, balance, and deep sustainability. • Leadership Dialogue: Participated in a panel on _“Conscious Leadership”_ alongside Bhutanese PM Dasho Tshering Tobgay, emphasizing regenerative systems and sustainable leadership. • Socio-Economic Priorities: Addressed international media on critical economic pillars, including food security, best agricultural practices, women’s employment, and long-term socio-economic development.

Agriculture, Plantations & Fisheries
Read more →

🌱 Browns Hotels & Resorts Launches ‘BIGG CARE’ Sustainability Framework

Browns Hotels and Resorts has officially launched BIGG CARE, a comprehensive Sustainability Strategic Plan designed to integrate ESG principles across its operations to support tourism, hospitality, and community resilience in Sri Lanka. • Core Framework & Objectives: BIGG CARE stands for Green Governance, Climate Action, Accountability, Resource Efficiency, and Engagement. The strategy transitions sustainability from standalone initiatives into an integrated operational discipline focusing on climate resilience, energy/water stewardship, circular economy, biodiversity, and community development. Structure assigns responsibility across all organizational tiers, from the Board to property-level execution teams led by Sustainability Lead Prabuddha Siriwardhena. • Strategic Value for Sri Lanka: Aligns corporate governance with Sustainable Development Goals (SDGs), GRI reporting standards, and national environmental priorities. Emphasizes eco-innovation, destination preservation, local procurement, and community employment to maintain quality tourism inflows and long-term economic resilience. • Key Launches at Event: Unveiled at The Eden Beruwala alongside key stakeholders, including UN-Habitat Sri Lanka Country Program Manager Harshini Halangode. Officially introduced the Group’s Sustainability Policy and Bi-Annual Sustainability Newsletter to enhance transparency and stakeholder engagement.

Tourism, Hospitality & Leisure
Read more →

Sunshine Medical Devices Supports Sri Lanka’s 1st National Suture Championship 📈

• Overview: Sunshine Medical Devices (SMD) partnered with the Sri Lanka Association of Plastic, Reconstructive and Aesthetic Surgeons (SLAPRAS) to host the inaugural "Master of Precision Suturing Championship" for medical undergraduates. • National Reach: Brought together 4th-year medical students across 11 national medical faculties to build practical skills, specialist mentorship, and early surgical talent identification. • Focus Areas: Evaluated key techniques including tissue handling, instrument control, precision, knot security, and consistency. • Strategic Impact: Supports human capital development in the healthcare and medical devices sector, aiming to establish the championship as an annual national programme to strengthen future clinical capabilities.

Healthcare & Pharmaceuticals
Read more →

⚠️ Climate Threat Hits Agriculture: Urgent Action Needed to Avert Food Crisis 📈

• Key Climate Impacts & Risks • NOAA reports >90% probability of a very strong El Niño event ahead. • Past precedent: Nov 2025 Cyclone Ditwah damaged ~106,000 ha of paddy (~20% of cultivated Maha area), affecting 227,000+ farmers and leaving >1.1 Mn people needing urgent food & agricultural aid. • Economic vulnerability: 28% of the population was moderately acutely food insecure during the 2022 economic crisis; future shocks threaten paddy, maize, vegetables, fruits, and plantation crops. • Policy vs. Execution Gap • Sri Lanka has frameworks like NDC 3.0 (2026–2035) for climate-resilient agriculture, but responses remain reactive (relief, compensation, emergency imports). • Government established high-level coordination; Parliament’s Climate Caucus calls for Anticipatory Crisis Governance. • 7 Priority Actions for Resilience • Operationalize climate-risk data (seasonal/sub-seasonal forecasts) for farmers. • Prepare seasonal contingency plans & secure seeds/planting materials before shocks. • Build an integrated national climate-risk data platform across state agencies. • Diversify production beyond reliance on narrow planting windows. • Strengthen post-harvest protection (cold chains, milk chilling, processing, storage). • Accelerate breeding of heat-, flood-, and drought-tolerant crop varieties. • Redesign water infrastructure (restore tank-cascades, watersheds, and catchments).

Agriculture, Plantations & Fisheries
Read more →

🌱 EV Shuttle Proposed to Boost Eco-Tourism at Horton Plains

Authorities have proposed introducing an Electric Vehicle (EV) shuttle system inside the UNESCO World Heritage site to curb emissions, noise pollution, and wildlife disturbance. • Key Highlights: - Dedicated parking facilities will be set up near entrance gates. - Visitors will be transported into the park via electric shuttle vehicles. - Proposal introduced during a progress review chaired by Environment Deputy Minister Anton Jayakody on August 29. • Economic & Environmental Context: - Targets protection of fragile ecosystems while advancing sustainable tourism. - Part of a broader national framework to modernise eco-tourism infrastructure.

Tourism, Hospitality & Leisure
Read more →

🌿 Horton Plains to Limit Daily Visitors and Launch Online Booking System

Sri Lanka's Environment Ministry is implementing new visitor management measures at Horton Plains National Park to protect its sensitive eco-tourism ecosystem and UNESCO World Heritage status. • Visitor Regulation: Plans include a daily cap on entry and an online time-slot booking system to control crowd flow and manage peak visitor density. • Pricing Strategy: An adjusted pricing structure is under consideration to discourage over-visitation while promoting high-value, sustainable tourism. • Conservation Focus: The initiative aims to balance long-term biodiversity preservation with sustainable revenue growth for the tourism sector. The proposal follows a joint progress review on August 29 chaired by Environment Deputy Minister Anton Jayakody, alongside wildlife and forest conservation officials.

Tourism, Hospitality & Leisure
Read more →

🌊 Nepal Flash Floods: Climate Risk Warnings for Sri Lanka's Infrastructure

• Disaster Context: A devastating flash flood in Nepal, linked to potential glacial melt and natural dam failures, has claimed over 500 lives, highlighting urgent risks from climate-induced hazards in high-altitude and river-valley settlements. • Infrastructure & High-Risk Zones: - Concerns raised over Sri Lanka's aging network of man-made reservoirs, including major systems like Mahaweli and Kelani. - Weak enforcement of riverbank and canal setback laws has led to unauthorized settlements along critical waterways, elevating severe flood and landslide risks. - Recalls the catastrophic 1986 Kantale Tank failure as a precedent for the economic and human costs of water infrastructure breaches. • Key Policy Recommendations: - Conduct structural integrity assessments of all national dams and reservoirs, focusing on mountainous and densely populated zones. - Enforce strict building regulations near waterways without political interference. - Strengthen national disaster mitigation frame: update hazard maps, test emergency evacuation plans, and upgrade early warning systems. • Economic Implications: Unmanaged climate risks pose major threats to construction, real estate, and national budget expenditure tied to disaster recovery and public infrastructure repairs.

Economy-wide / Cross-sector
Read more →

Sri Lanka Faces Dual Farm Risk: Early Drought to Maha Flood Hazards 📈

• Overview: Sri Lanka's upcoming Maha 2026/27 season faces a complex dry-to-wet weather transition, risking severe agricultural disruption. Severe rainfall deficits during the Southwest Monsoon reach ~65% in Anuradhapura and Polonnaruwa, and over 80% in Vavuniya. • Climate Signals: Strong El Niño and positive Indian Ocean Dipole conditions threaten early moisture stress in August–September, followed by potential excess rainfall and flooding from October to December. • Sector Impact: • _Agriculture & Paddy Cultivation_: The rice sector faces major risks across ~694,000 acres in 378 irrigation schemes. High input costs (fuel up 41%–44% since pre-crisis, global urea peaked at US$ 857/tonne, and Brent crude rose >50% earlier in 2026) compound production risks for smallholders. • _Perishables & Supply Chain_: Excessive rainfall threatens high post-harvest losses in vegetables and paddy due to field waterlogging and inadequate crop drying facilities. • Strategic Response: • Shift from a single national planting date to scheme-specific schedules (89 schemes to start pre-monsoon, 289 post-onset). • Establish strategic seed reserves and digital input vouchers for vulnerable smallholders. • Invest in post-harvest protection (drying, hermetic storage) to prevent up to 10% crop losses.

Agriculture, Plantations & Fisheries
Read more →

📈 Rs. 22 Mn Ag-Equipment Handed Over for Nuwara Eliya School Meal Program

The UN World Food Programme (WFP) and the Ministry of Rural Development, Social Security and Community Empowerment have provided agricultural equipment worth nearly Rs. 22 Mn to farmers and suppliers under the Home-Grown School Feeding (HGSF) initiative in Nuwara Eliya. • Key Financials & Assets: - New Support: ~Rs. 22 Mn in equipment (water tanks, sprayers, garden hoses, crates, and fencing materials). - Cumulative Investment: Over Rs. 92 Mn spent by WFP to date for HGSF implementation and expansion in Nuwara Eliya District. - Funding Source: Global fashion brand Michael Kors via WFP. • Economic & Social Impact: - Sectors Affected: Direct boost to agriculture, local food production, and national school nutrition programs. - Community Livelihoods: Connects schools with regional food producers, empowering rural communities—especially boosting employment and income for women. - Child Health & Education: Delivers nutritious meals to children to support learning potential, attendance, and overall health.

Agriculture, Plantations & Fisheries
Read more →

🌱 UN Global Compact Convenes APAC Leaders to Mobilize Sustainable Finance 📉

UN Global Compact Network Sri Lanka convened the SDG Investment Forum under the Forward Faster Now | APAC 2026 initiative, focusing on accelerating transition and sustainable finance across Asia-Pacific emerging markets. • Key Leadership & Objectives • Opened by Prime Minister Dr. Harini Amarasuriya and UN Global Compact Assistant Secretary-General Sanda Ojiambo. • Aimed at bridging the intermediation gap, unlocking private capital, and fostering blended finance, regional cooperation, and investor confidence. • Highlighted local transactions, including a local-currency renewable energy financing deal between IFC and WindForce PLC. • Corporate Support & Sector Involvement • Supported by major domestic financial and corporate players: Sampath Bank, Hatton National Bank (HNB), Hayleys PLC, Amana Bank, and Dialog Axiata PLC (ICT/telecom). • Collaborators included UNEP FI, PRI, and the Board of Investment of Sri Lanka (BOI). • Actionable Outcomes • Launched a 1-Year Sustainable Finance Implementation Workplan to build technical capacity, deploy internal carbon pricing, and improve disclosure frameworks. • Gathered individual corporate commitments to drive long-term resilience and inclusive regional economic growth.

Economy-wide / Cross-sector
Read more →

🙏 CBL Samaposha Marks Over Two Decades of Community Support at Kandy Esala Perahera

CBL Samaposha, a leading brand under Plenty Foods / CBL Group in Sri Lanka's FMCG and agriculture processing sectors, has extended its long-standing community wellbeing initiative at the Kandy Esala Perahera for 2026, marking over 20 years of involvement since 2003. • Initiative Scale: CBL Samaposha is distributing 20,000 CBL Samaposha Aggala packs daily over the 5-day Randoli Perahera, reaching a total of 100,000 packs for pilgrims around the Sri Dalada Maligawa precinct. • Performer & Staff Support: An additional ~2,000 Aggala packs per day will be distributed via the four Devalayas to support traditional dancers, performers, and event staff. • Public-Private Partnership: Conducted in collaboration with the Kandy District Secretariat since 2010, ensuring structured and responsible delivery to thousands of attendees. • Economic & Social Context: Demonstrates sustained corporate social responsibility (CSR) and investment in community nutrition within Sri Lanka's vital food manufacturing and cultural tourism landscape.

Food, Beverage & Consumer Goods
Read more →

📈 Link Natural & Sri Dalada Maligawa Launch Health Initiative for Kandy Esala Perahera Performers

Link Natural, through its brand Samahan, partnered with the Media and Special Projects Bureau of the Sri Dalada Maligawa to launch the "Samahan Arakshawe Pelahera" health and wellness initiative. • Target Audience: Supporting over 1,000 traditional performers, including dancers, drummers, torchbearers, and elephant handlers, during the 10-day Kandy Esala Perahera festival. • Services Provided: Designated wellness stations serve hot Samahan drinks before and after performances to counter physical exertion, humid weather, and open-flame heat. • Medical & Relief Support: Volunteers and medical personnel from the Sri Lanka Red Cross Society provide health guidance and first-aid assistance. • Product Assistance: Link Natural provided MuscleGuard and CrampGuard topical products to assist performers with muscle fatigue and exertion.

Healthcare & Pharmaceuticals
Read more →

Global & International Business

(40)

Foreign Minister Vijitha Herath Begins Official UAE Visit 📈

• Key Highlights: Minister of Foreign Affairs, Foreign Employment and Tourism Vijitha Herath is undertaking an official visit to the United Arab Emirates from 02–03 September 2026 to strengthen bilateral cooperation. • High-Level Meetings: Scheduled to meet key UAE Ministers to discuss matters of mutual interest: - Dr. Abdulrahman Abdulmannan Al Awar (Human Resources & Emiratisation) - Abdulla bin Touq Al Marri (Economy & Tourism) • Promotional Engagement: - Minister Herath will join Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, on 02 September to grace the second edition of the “Sri Lanka Beyond Your Dreams” promotional event in Dubai.

Economy-wide / Cross-sector
Read more →

📈 Sri Lanka–Hong Kong Strategic Bilateral Trade and Investment Links Strengthened

• Event Overview: The Export Development Board (EDB) and National Chamber of Commerce (NCCSL) partnered with HKETO, InvestHK, and HKTDC to host the "Bridging Markets" seminar and networking dinner in Colombo, gathering over 100 Sri Lankan exporters. • Sector Representation: Sri Lanka's export ecosystem was represented by diverse high-potential industries, including apparel, tea, ICT and software, boat building, gems, food, and handicrafts. • Strategic Focus: Discussions centered on positioning Hong Kong as a gateway for Sri Lankan exports to access Mainland China and wider Asian markets, while promoting internationalization, investment facilitation, trade fairs, and SME support.

Economy-wide / Cross-sector
Read more →

🤝 Sri Lanka & Japan Hold Inaugural Talks on Export-Oriented Industrial Corridor

• Key Development: The first meeting of the Sri Lanka-Japan Joint Working Group (JWG) was held in Colombo to implement the 'Conceptual Roadmap on Building an Export-Oriented Industrial Corridor.' • Context: Established following the Intergovernmental Economic Policy Dialogue in February, the JWG serves as a working-level framework to drive export-oriented industrialization. • Strategic Priorities: Discussions centered on enhancing the business environment, identifying priority sector areas, and setting implementation timelines. • Investor Engagement: Concurrently, the 5th Japan–Sri Lanka Committee on Business Environment met at the BOI, featuring Japanese companies, JETRO, JICA, and JCCI. • Investment Goals: Talks focused on resolving operational challenges faced by Japanese enterprises to boost foreign direct investment (FDI) and deepen bilateral economic cooperation.

Economy-wide / Cross-sector
Read more →

📈 Sri Lanka–China Business Council Celebrates 25th Anniversary

The Sri Lanka–China Business Council (SLCHBC) of The Ceylon Chamber of Commerce marked 25 years of bilateral trade cooperation under the theme "25 Years of Unwavering Alliance." • Key Trade Dynamics (2025 Data): China retained its position as Sri Lanka's largest import partner in 2025. Key imports from China: Iron and steel, knitted fabrics, and vehicles. Top Sri Lankan exports to China: apparel, tea, activated carbon, vegetable fibre, and coconut husk chips. • Government & Bilateral Focus: Sri Lankan Minister of Trade reaffirmed commitment to a stable, transparent, and investor-friendly environment. Chinese Embassy representatives emphasized promoting a bilateral Free Trade Agreement (FTA), attracting investment, and increasing Sri Lankan exports. • Future Priorities: Expanding market and investor access for local SMEs. Facilitating tech transfers and skill development. Targeting growth in digital trade, artificial intelligence, renewable energy, and advanced manufacturing.

Economy-wide / Cross-sector
Read more →

🌐 Existential Realism: Rethinking Sri Lanka's Foreign Policy in a De-Globalising World 📈

• Global Shift & De-Globalisation: The international order is fragmenting into a complex, bipolar/multipolar framework (USA–China–Russia). Unilateral sanctions, tariff wars, and global supply blockades—such as disruptions in the Strait of Hormuz—are weakening traditional Western-led economic globalization. • Risks of West-Centric & Sub-Regional Alignment: Relying heavily on volatile Western economies or becoming integrated with immediate sub-regional setups (e.g., India's Tamil Nadu state) poses severe existential risks. Diaspora-driven pressures in Western nations could trigger unilateral legal or trade sanctions on Sri Lanka regarding wartime accountability and internal state structures. • Strategic Imperatives for Sri Lanka: • Diversification: Reduce economic and strategic vulnerability to volatile Western corridors. • Key Global Partnerships: Preserve and expand strategic ties with global economic engines such as China (ICT/BPM, infrastructure, capital) and Russia (energy, diplomatic coverage) to act as vital growth drivers and sovereign counterweights. • Global South Engagement: Build multi-faceted relationships with non-aligned nations across Eurasia, Latin America, and Afro-Asia to secure trade resilience without conceding internal sovereignty. • Internal Pragmatism: Implement internal structural adjustments, such as provincial devolution (13th Amendment), to eliminate pretexts for external intervention while safeguarding core national integrity.

Economy-wide / Cross-sector
Read more →

🤝 Sri Lanka Business Mission Unlocks Trade & Investment Avenues in Australia

• Strategic Bilateral Outreach: The Ceylon Chamber's Sri Lanka–Australia–New Zealand Business Council (SLANZBC), in partnership with Sri Lanka's High Commission, concluded a high-level trade mission across Canberra, Melbourne, and Sydney to boost commercial ties and reciprocal trade. • Key Sectoral Focus: Discussions targeted cross-border expansion, institutional links, and commercial partnerships across high-growth sectors, particularly technology and AI, martech, venture capital, fisheries, and logistics. • Canberra Engagements: Held roundtables with Federal parliamentarians—including the Chair of the Australia–Sri Lanka Parliamentary Friendship Group—as well as Austrade, DFAT, and the Australian Chamber of Commerce and Industry to leverage diaspora networks and explore reciprocal trade missions. • Melbourne & Sydney Connections: Engaged Global Victoria, Invest Victoria, Food and Beverage Association, and CA Sri Lanka Australia Chapter to broaden market access for local industries and deepen institutional cooperation.

Economy-wide / Cross-sector
Read more →

NCE to Lead Business Delegation to India to Unlock Export Growth 📈

The National Chamber of Exporters of Sri Lanka (NCE) is organizing an trade delegation to New Delhi and Mumbai from Sept 24 to Oct 1, 2026, aimed at expanding market access and driving B2B partnerships with Indian industry leaders. • Trade Performance & Growth • Sri Lankan exports to India rose 17.2% YoY in 2025 to ~US$ 1.04 Bn (up from US$ 881.6 Mn in 2024). • Momentum accelerated in 1H 2026, with exports surging 36.16% YoY to US$ 688.47 Mn. • Trade relies heavily on the India-Sri Lanka Free Trade Agreement (ISFTA), which facilitated ~US$ 634 Mn (61.3%) of exports to India in 2025. • Focus Sectors & Opportunities • Key traditional & value-added sectors include tea, apparel & textiles, rubber & rubber products, coconut products, spices, food & beverages, gems & jewellery, electrical & electronic products, ICT/BPM, logistics, and manufacturing. • Strategic expansion focus extends to joint ventures, contract manufacturing, technology collaboration, supply chain integration, and distribution networks. • Key Institutional Engagements • Direct B2B access organized via major Indian chambers: FIEO and FICCI (New Delhi); MACCIA, AIAI, and ICIB (Mumbai). • Supported by trade officers from the Sri Lankan High Commission in New Delhi and Consulate General in Mumbai to lower entry barriers for local SMEs and emerging exporters.

Economy-wide / Cross-sector
Read more →

📈 Sri Lanka Pitching Expo 2027 to Australian Investors in Melbourne

• Event Overview: The Consulate General of Sri Lanka in Melbourne hosted a promotional event on 14 August 2026 to engage Victoria-based business leaders and importers for the flagship Sri Lanka Expo 2027. • Key Event Details: Expo 2027 will take place at the BMICH, Colombo, from 14–17 January 2027, serving as a platform to establish global partnerships and showcase export potential. • Sector Breakdown: Victoria-based entities represented sectors including food and beverage, logistics, financial services, tourism, and wellness. • Investment Focus: BOI highlighted key opportunities in industry, energy, and minerals, alongside investor incentives and a new digital investment platform. EDB pitched strategic access to regional markets via FTAs with India, Pakistan, Singapore, and Thailand. • Bilateral Issues: Importers highlighted delays in Plant Quarantine and phytosanitary certifications. EDB committed to convening a multi-agency meeting to streamline processes.

Economy-wide / Cross-sector
Read more →

📈 Foreign Diplomats Briefed on Sri Lanka Economic & Investment Summit 2026

• Event Details: The 26th edition of the Sri Lanka Economic and Investment Summit (SLEIS) 2026, organized by the Ceylon Chamber of Commerce, takes place on 12–13 October 2026 at Shangri-La Colombo. • Core Theme: Focusing on “Positioning Sri Lanka in a Changing Global Economy: Resilience, Reform, and the Future of Economic Policy.” • Diplomatic Outreach: Foreign diplomatic missions were briefed via the Ministry of Foreign Affairs to promote the summit to global business networks, investment agencies, and private sector partners. • Key Priorities: Conversations aim to move beyond short-term economic stabilization toward long-term competitiveness, structural economic reforms, trade, and sustainable growth. • Private Sector Role: Emphasized structured private sector participation as vital for converting diplomatic efforts into tangible trade and investment outcomes.

Economy-wide / Cross-sector
Read more →

🍍 Historic Milestone in Sri Lanka’s Fresh Fruit Exports to Pakistan

Sri Lanka achieved a major agricultural trade milestone on August 21, shipping its first-ever 20-foot container of fresh pineapples to Pakistan. The inaugural consignment was exported by C R Exports (Pvt) Ltd. • Market Potential & Trade Target: - Pakistan imports 2,000–5,000 MT of pineapples annually (~US$ 10 Mn value). - Sri Lanka generated ~US$ 2 Mn in pineapple export revenue in 2025. - Expands access under the Pakistan–Sri Lanka Free Trade Agreement (PSFTA) to help reach Sri Lanka's 2030 export goals. • Quality & Regulatory Compliance: - Shipments sourced from Good Agricultural Practices (GAP)-certified fields and registered with the Department of Agriculture (DoA). - Approved following an audit by Pakistan’s National Plant Protection Organization (NPPO) and technical clearance via Phytosanitary Certificates from Sri Lanka's National Plant Quarantine Service (NPQS). - Supported by the EDB, Department of Commerce, and diplomatic missions of both nations. • Future Expansion: - Sri Lanka aims to gain market share from major suppliers (Thailand and the Philippines) leveraging taste, quality, and proximity. - Plans are underway to expand into other fresh produce markets like avocados and oranges.

Agriculture, Plantations & Fisheries
Read more →

Ceylon Chamber Expands Middle East Trade Ties via MoUs with Qatar & Lebanon 📈

• Key Partnerships: The Ceylon Chamber of Commerce signed two strategic MoUs with the Qatar Sri Lanka Business Council (QSLBC) in Colombo and virtually with the Chamber of Commerce, Industry and Agriculture of Beirut and Mount Lebanon (CCIA-BML). • Strategic Context: The QSLBC agreement coincides with Sri Lanka and Qatar celebrating 50 years of bilateral relations, targeting enhanced business-to-business engagement. • Framework & Impact: The agreements establish structured frameworks for economic data exchange, direct B2B contacts, and cross-border commercial opportunities to connect Sri Lankan businesses with overseas markets and foreign investment.

Professional & Business Services
Read more →

Oman & Sri Lanka Strengthen Investment Ties via Port City Colombo 📈

• Bilateral Engagement: Port City Colombo hosted a high-level Omani delegation led by H.E. Pankaj Khimji to establish a structured Oman–South Asia Investment and Trade Corridor and foster collaboration between Special Economic Zones (SEZs). • Trade Growth: Bilateral trade turnover expanded from US$ 118 Mn in 2018 to ~US$ 223 Mn in 2022, serving as a baseline for expanded commercial partnerships. • Investment Momentum: Port City Colombo has secured >US$ 1 Bn in investment between Q4 2025 and Q2 2026, with over 175 registered companies driving its Gulf region outreach.

Construction & Real Estate
Read more →

Financial & Investment News

📈 Asia Asset Finance Rs. 1.5 Bn Rights Issue Oversubscribed

• Issue Breakdown: Offered 45.16M ordinary voting shares at Rs. 33.30 per share to raise Rs. 1.5 Bn. Total applications reached 58.179M shares (44.582M provisional + 13.597M additional), resulting in an oversubscription of Rs. 433.5 Mn. • Financial Performance (Q1 ended 30 June 2026): - Profit Before Tax (PBT): Rs. 877.9 Mn (up 197.8% YoY) - Profit After Tax (PAT): Rs. 429.4 Mn (up 137.0% YoY) - Total Assets: Rs. 60.42 Bn (up 12.3%) - Loan Portfolio: Expanded by Rs. 3.51 Bn to Rs. 50.51 Bn • Market & Shareholder Data: - Share price closed at Rs. 47.90 (down 10 cents). - Net Assets Per Share: Rs. 41.89 (as of 30 June 2026). - Parent company Muthoot Finance Ltd. holds a 73% stake, with a public float of 26.55% held by 3,188 shareholders.

Banking & Financial Services
Read more →

📈 Union Bank Plans Rs. 708.4 M Rights Issue to Strengthen Capital

Union Bank of Colombo PLC has proposed a Rs. 708.4 million Rights Issue aimed at reinforcing its Tier 1 capital adequacy ratio and expanding its core lending operations. • Issue Details & Structure: The Board resolved on 31 August 2026 to offer up to 67,722,396 new ordinary voting shares at Rs. 10.46 per share. The issue will be structured on the basis of 1 new share for every 16 existing ordinary voting shares. • Financial Position: As of 30 June 2026, the bank's stated capital stood at Rs. 16.33 Bn, with reported net assets of Rs. 19 per share. • Major Shareholding Breakdown: • Culture Financial Holdings Ltd.: 70.84% • Vista Knowledge Ltd.: 5.97% • Associated Electrical Corporations Ltd.: 2.63% • Regulatory & Shareholder Approvals: The proposed Rights Issue is subject to obtaining in-principle approval from the Colombo Stock Exchange for listing, as well as final approval from shareholders at an upcoming Extraordinary General Meeting (EGM).

Banking & Financial Services
Read more →

Govt Targets Fresh US$ 4.1 Bn Investment into Port City Colombo 📈

• Overall Investment Target: The Government is aiming for an additional US$ 4.1 Bn in investments over the next 5 years, adding to US$ 2.1 Bn already confirmed. • Key Industry Investors: Key players operating in the Special Economic Zone (SEZ) include: • ICT/BPM: IGT1 for BPO/BPM services. • Apparel & Textiles / Global Operations: Ansell. • Global Shared Services: Horizon Group USA. • Offshore Professional Services: KPMG. • Logistics Back-Office: GAC Services. • Infrastructure Developments: Projects underway include 2 residential developments, 3 mixed-development projects, a hotel, and a convention centre. • Revised Tax Framework: • Primary Businesses: Income tax holidays up to 15 years. • Secondary Businesses: Concessionary corporate income tax rate of 7.5% for 4 years. • Competitive Edge: Beyond incentives, investments are driven by high-speed internet, strategic location, international market access, and a lower cost of living compared to Dubai or Singapore. • National Impact: Investments into Port City are supplementary to foreign direct investment coming via the Board of Investment (BOI).

Construction & Real Estate
Read more →

🇱🇰 Invest Sri Lanka Investor Forum Sydney Draws Foreign & Diaspora Capital 📈

The Securities and Exchange Commission (SEC) and Colombo Stock Exchange (CSE) hosted the "Invest Sri Lanka" Investor Forum on 17 August 2026 in Sydney to showcase the island's economic recovery and pitch capital market growth to foreign fund managers and the Sri Lankan diaspora. • Key Highlights & Credit Outlook: - Credit Ratings: Central Bank Governor Dr. Nandalal Weerasinghe noted all three major international agencies rate Sri Lanka at CCC, with a clear pathway toward an upgrade to B- as macroeconomic confidence improves. - Regional Advantage: Sri Lanka is positioning itself as an "India Plus One" platform for logistics, services, and manufacturing. - Foreign Investment Account (IIA): HNB confirmed Inward Investment Accounts (IIA) for overseas investors now process within 2 to 3 working days via streamlined documentation. - Port City Colombo: Allows investment in foreign currencies (e.g., AUD) with relaxed capital account regulations for cross-border capital flow. • Structural Reforms & Investment Avenues: - Focus on SOE restructuring, fiscal discipline, institutional reforms, and digital transformation. - Key opportunities emphasized in brownfield projects, venture capital, and broader capital market participation across South Asia. - Part of an ongoing Australian roadshow series running from 17–20 August 2026.

Capital Markets & Investment
Read more →

📈 MBSL Bolsters Capital Base via Rs. 806 Mn Rights Issue

• Capital Raising: Merchant Bank of Sri Lanka & Finance PLC (MBSL) successfully completed its Rights Issue in August 2026, raising Rs. 806 million in fresh capital. • Strategic Focus: • Strengthens the overall capital base and boosts capacity for core business growth. • Supports prudent capital management, financial resilience, and long-term shareholder value creation.

Banking & Financial Services
Read more →

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

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

Capital Markets & Investment
Read more →

```json { "category": "Product & Service Launches / Business Expansions", "sector": "Transport, Logistics & Infrastructure" } ```

7. Regulatory & Policy News

**Awards & Recognitions**

Awards & Recognitions [National Business Excellence Awards -2026](https://m.youtube.com/watch?v=6KqeSQAMjVI) This video coverage highlights the ceremony and honors received by Sri Lanka's leading business enterprises at the National Business Excellence Awards 2026.

I'm having a hard time fulfilling your request. Can I help you with something else instead?

Product & Service Launches / Business Expansions [MasterChef Sri Lanka Official Hospitality Partner Video](https://www.youtube.com/watch?v=yy5z6NYKgj0) This video highlights Cinnamon Hotels and Resorts' involvement in major international culinary initiatives and hospitality events, reflecting their strategic efforts to expand Sri Lanka's global profile.

Sustainability, ESG & Corporate Responsibility [Highlights of the Beach Clean-up Programme](https://www.youtube.com/shorts/pqIAYUD3_5o) This video provides visual coverage of the Bank of Ceylon beach clean-up initiative at Palangaturai Beach in Negombo mentioned in the news text.

**Politics & Government Impact**

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

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