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Global & International Business

🤝 Trade Minister Reviews Global Promotional Push with Overseas Commercial Officers

• Overview: Minister of Trade, Commerce, Food Security and Cooperative Development Wasantha Samarasinghe conducted a virtual meeting on 31 July with Commercial Officers across Sri Lanka's Foreign Missions to review ongoing trade promotion efforts. • Key Focus Areas: • Trade & Investment: Enhancing Sri Lanka's export reach and attracting foreign direct investment. • Tourism: Strengthening promotional strategies to boost international arrivals. • Skilled Employment: Creating new foreign employment avenues for skilled Sri Lankan professionals. • Strategic Goal: Align overseas diplomatic missions with national priorities to accelerate economic recovery and export-led growth.

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Global & International Business

(51)

🤝 Trade Minister Reviews Global Promotional Push with Overseas Commercial Officers

• Overview: Minister of Trade, Commerce, Food Security and Cooperative Development Wasantha Samarasinghe conducted a virtual meeting on 31 July with Commercial Officers across Sri Lanka's Foreign Missions to review ongoing trade promotion efforts. • Key Focus Areas: • Trade & Investment: Enhancing Sri Lanka's export reach and attracting foreign direct investment. • Tourism: Strengthening promotional strategies to boost international arrivals. • Skilled Employment: Creating new foreign employment avenues for skilled Sri Lankan professionals. • Strategic Goal: Align overseas diplomatic missions with national priorities to accelerate economic recovery and export-led growth.

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📈 CHEC Port City Targets Indian Investors with INR Transactions & SEZ Incentives

• Strategic Repositioning & Target Market CHEC Port City Colombo is stepping up efforts to attract Indian investors, positioning its 2.7 sq. km reclamation project as a multi-services export zone and regional business gateway rather than just a real estate development. India has been identified as the primary growth market for the Special Economic Zone (SEZ). • INR Currency & Offshore Facilitation To enable seamless integration with India's economy, Indian rupees (INR) are recognized as legal tender within the SEZ. Indian businesses can register as offshore entities under their existing companies and transact directly in INR without incorporating a new Sri Lankan firm. • Hospitality & Lifestyle Sector Growth The master plan has earmarked four dedicated plots for the hospitality sector. Its 90-hectare swimmable lagoon is designed to accommodate food & beverage (F&B), restaurant, and lifestyle retail projects, alongside residential, office, recreation, yacht marina, and casino developments.

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🤝 COYLE and Indian Chamber of Commerce Sign MoU to Boost Bilateral Trade

• Strategic Partnership: The Chamber of Lankan Entrepreneurs (COYLE) and the Indian Chamber of Commerce (ICC-Tamil Nadu) signed an MoU in Colombo during the India–Sri Lanka Bilateral Trade Delegation. • Core Focus: Aimed at expanding trade promotion, investment facilitation, business networking, and knowledge exchange between both nations. • Key Synergy: Combines India’s manufacturing strength and scale with Sri Lanka’s strategic location, logistics advantage, and innovation. • Economic Context: Leverages the India–Sri Lanka Free Trade Agreement (ISFTA) to strengthen cross-border partnerships, regional economic integration, and private-sector growth.

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🤝 COYLE and Indian Chamber of Commerce Sign MoU to Boost Bilateral Trade

• Strategic Partnership: The Chamber of Lankan Entrepreneurs (COYLE) and the Indian Chamber of Commerce (ICC-Tamil Nadu) signed an MoU in Colombo during the India–Sri Lanka Bilateral Trade Delegation. • Core Focus: Aimed at expanding trade promotion, investment facilitation, business networking, and knowledge exchange between both nations. • Key Synergy: Combines India’s manufacturing strength and scale with Sri Lanka’s strategic location, logistics advantage, and innovation. • Economic Context: Leverages the India–Sri Lanka Free Trade Agreement (ISFTA) to strengthen cross-border partnerships, regional economic integration, and private-sector growth.

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📈 China–Sri Lanka Diplomatic & Economic Ties: Ambassador Qi Zhenhong Concludes Tenure

Outgoing Chinese Ambassador Qi Zhenhong has completed his nearly six-year diplomatic mission in Sri Lanka, emphasizing sustained development cooperation, debt restructuring, and trade expansion. • Key Economic & Bilateral Highlights • Debt Restructuring: China was the first bilateral creditor to reach an agreement framework with Sri Lanka to support financial stability following the 2022 economic crisis. • Infrastructure & Logistics: Major investments focused on Colombo Port City (developed without direct financial burden on Sri Lanka) and Hambantota Port to boost productive capacity, connectivity, and maritime logistics. • Trade Agreements: China renewed calls to finalize the stalled Free Trade Agreement (FTA) (pending since 2017) to expand access for Sri Lankan exports to the Chinese market. • Future Cooperation & Sectors • Partnership framework expands into agriculture, ICT/technology, healthcare, education, and tourism. • Focus remains on leveraging strategic infrastructure for local employment, export growth, and integration into global supply chains.

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📈 Canada Day Dialogue: Sri Lanka Targets $2.4 Bn Trade & Tourism Push

The Canadian Chamber of Commerce in Sri Lanka held the "Canada Day Dialogue" to explore new pathways under Canada's CAD 500 Bn Indo-Pacific Strategy. • Trade & Investment Targets: - Sri Lanka aims to capture 2% of Canada's global trade, targeting ~US$ 2.4 Bn in two-way trade. - Canadian FDI currently stands at ~US$ 20 Mn, with realistic potential to scale up to ~US$ 400 Mn. - Priority sectors identified for foreign capital and tech transfer include manufacturing, ICT & cybersecurity, and renewable energy (wind and solar potential). • Tourism Expansion: - Aiming to scale Canadian tourist arrivals from ~40,000 to 100,000–120,000 annually within 12 to 18 months. - Shift toward high-yield experience & luxury tourism (targeting US$ 1,000/day travelers) and authentic community-based offerings. • Global Value Chains & Diaspora: - Focus on direct-to-consumer models in North America for local artisan handicrafts & lifestyle products. - Strategic push to leverage the global diaspora for capital and technology, backed by administrative ease via the e-BOI framework.

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🇦🇺🇱🇰 Australia’s Special Envoy for Indian Ocean Affairs Visits Sri Lanka

Australia’s Special Envoy for Indian Ocean Affairs, Tim Watts MP, has arrived in Sri Lanka to enhance bilateral engagement and support economic, diplomatic, and regional stability across the Indian Ocean. • Diplomatic & Economic Focus: Engagement planned with government representatives, political and business leaders, development partners, and the local arts community to boost bilateral collaboration. • Strategic Objectives: Discussions centered on strengthening regional resilience, economic connectivity, preparedness against shared challenges, and institutional links. • Regional Context: Follows Watts’ previous visit in October 2023 for the 23rd Indian Ocean Rim Association (IORA) Council of Ministers meeting, underscoring Australia's ongoing commitment to Sri Lanka as a key Indian Ocean neighbor.

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📈 Milan Forum Promotes Sri Lanka Expo 2027

• Event Overview: The "Discover Sri Lanka: Gateway to Trade and Investment" business forum was successfully held in Milan on 9 July, organized by the Sri Lankan Consulate General, Italian Foreign Trade Association, and Club Asia. • Core Objective: Promote Sri Lanka Expo 2027, scheduled in Colombo from 14–17 January 2027, showcasing national export capabilities and investment incentives to the Italian business community. • Key Endorsement: Calzedonia Group (Oniverse) shared its successful 25-year manufacturing presence in Sri Lanka, praising the country's skilled workforce, strategic apparel and value-added manufacturing capabilities, and favorable institutional support for long-term foreign investment. • Policy Commitments: Government representatives highlighted recent policy reforms focused on transparency, investor confidence, and ease of doing business to attract international partners.

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📈 Sri Lanka Must Overcome Bureaucracy to Attract Global FDI

• Core FDI Challenge: Despite a strategic location in the Indian Ocean, Sri Lanka struggles with modest Foreign Direct Investment (FDI) inflows, losing potential investors to regional competitors like South India, Vietnam, and Indonesia due to complex governance and approval delays. • Institutional & Policy Bottlenecks: Investors face multi-agency bureaucratic hurdles, lengthy approval timelines, and policy inconsistency across political transitions, prioritizing speed, policy predictability, and efficiency over tax incentives. • Strategic Transformation for Hambantota: Currently a transshipment hub for Indian vehicle exports to Africa, Hambantota could expand into an automotive manufacturing and assembly hub using CKD/SKD kits, creating thousands of jobs and driving value-added exports. • Key Industrial & Sector Opportunities: Beyond manufacturing, Sri Lanka holds potential to become a regional hub for logistics, maritime services, renewable energy, technology, and integration into global value chains. • Proposed Governance & Institutional Reforms: - Transform the Board of Investment (BOI) into a proactive investment promoter with dedicated relationship managers and digital tracking. - Implement legally mandated, accountable timelines for project approvals. - Establish a bipartisan National Investment Strategy and integrate economic diplomacy into foreign policy.

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🤝 Sri Lanka High Commission in India Hosts Discussion on ‘Colombo: Port of Call’

• Event Overview: The High Commission of Sri Lanka in New Delhi hosted an engaging literary event on 15 July 2026 centered around the book _Colombo: Port of Call_ by author and journalist Ajay Kamalakaran, in collaboration with Chapters by Shibani. • Diplomatic & Cultural Significance: Hosted by High Commissioner Mahishini Colonne, the gathering brought together diplomats, academics, journalists, and business leaders to showcase Colombo’s historical evolution as an Indian Ocean hub of commerce, culture, and civilization. • Strengthening Bilateral Relations: The discussion highlighted Colombo’s heritage through historic travel accounts—including those of Mahatma Gandhi and Anton Chekhov—aimed at deepening cultural understanding, heritage appreciation, and people-to-people ties between Sri Lanka and India.

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🤝 Sri Lanka & India Move to Resolve Challenges in Indian-Funded Projects

Sri Lanka and India held high-level bilateral discussions at the Presidential Secretariat to review progress, clear implementation bottlenecks, and ensure the smooth execution of Indian-assisted development projects. • Key Objectives & Monitoring: • Focused on resolving implementation challenges and renewing agreements for project continuity. • Reviewed initiatives supported under India's US$ 450 Mn loan and grant facility allocated for disaster recovery and reconstruction. • Proposed establishing a dedicated unit within the Presidential Secretariat to actively monitor and oversee project progress. • Key Sectors Involved: • Transport, Highways & Urban Development • Ports & Civil Aviation • Plantations & Community Infrastructure • Housing Construction & Water Supply • Fisheries, Aquatic & Ocean Resources • Science & Technology • Justice & National Integration • Key Representation: • Co-chaired by Dr. Anil Jayantha Fernando (Minister of Labour & Deputy Minister of Finance and Planning) and Mr. Santosh Jha (High Commissioner of India to Sri Lanka), alongside senior treasury, ministry, and diplomatic officials.

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Sri Lanka Ranks 4th Globally for IIF Investor Relations Improvement 📈

• Overall Assessment: Sri Lanka has emerged as one of the fastest-improving emerging market sovereigns for investor relations and debt transparency, recording the fourth-biggest global improvement in the Institute of International Finance (IIF) assessment. • Key Highlights: Reflects substantial progress in national debt transparency, communication standards, and sovereign investor engagement following ongoing debt restructuring initiatives. Strengthens market confidence across key national economic pillars, supporting broader macroeconomic stabilization efforts. _(Note: Brief generated based on provisional news updates.)_

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Economic News

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📉 Sri Lanka External Sector Pressured: Current Account Deficit Widens in June 2026

• Overall Current Account & Trade Deficit - June 2026 recorded a monthly current account deficit of US$ 149 Mn, marking the third consecutive month in deficit. - Cumulative 1H 2026 current account deficit reached US$ 245 Mn, reversing from a surplus in 1H 2025. - The merchandise trade deficit expanded to US$ 5.5 Bn in 1H 2026 (up from US$ 3.3 Bn in 1H 2025). - Fuel imports expenditure surged 40.2% YoY in June amid Middle East tensions, while motor vehicle imports declined 27.1% MoM. • Sector Breakdown: Tourism & Remittances - The tourism sector was impacted by Middle East conflicts, with arrivals dropping 9.9% YoY and monthly earnings falling 10.8% YoY to US$ 151 Mn. - Workers' remittances provided a crucial buffer, growing 9.3% YoY to US$ 695 Mn in June and reaching US$ 4.6 Bn (+23.2% YoY) for 1H 2026. • Reserves & Exchange Rate - Gross Official Reserves stood at US$ 6.5 Bn at end-June 2026, including the PBOC swap and external debt service payments. - The Sri Lankan rupee depreciated 7.8% YTD against the US dollar by end-July 2026, though policy measures have recently reduced currency volatility.

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📈 Sri Lanka Exports Exceed US$ 9 Bn in H1 2026

• Total Earnings: Combined merchandise and services exports reached an estimated US$ 9.01 Bn ($ 9,012.24 Mn) from January to June 2026 (provisional data). • Growth: Represents an 8% YoY increase, signaling resilience in national economic recovery despite high energy costs, tax burdens, and global trade disruptions. • Industry Recognition: The Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) commended the Export Development Board (EDB) and the Ministry of Industry and Entrepreneurship Development for fostering enabling policy environments. • Future Outlook: FCCISL pledged public-private sector collaboration via its national chamber network to support market expansion, strengthen regional enterprise readiness, and drive further export growth.

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📈 Colombo Inflation Surpasses 7% Mark in July 2026

Headline inflation for the Colombo district, measured by the Colombo Consumer Price Index (CCPI, 2021=100), continued its upward trajectory in July 2026, driven primarily by rising food prices. • Overall Inflation Figures: - Headline CCPI inflation accelerated to 7.3% YoY in July 2026, up from 6.8% in June 2026. • Sector Breakdown: - Food sector: Served as the main driver of overall price increases, with inflation surging to 6.3% YoY in July 2026 from 3.6% in June 2026. - Non-food sector: Experienced moderation, easing to 7.8% YoY in July 2026 down from 8.4% recorded in June 2026. _Source: Department of Census and Statistics_

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📈 Sri Lanka Achieves Mid-Year Budget Surplus of Rs. 9.5 Bn

Sri Lanka reached a major fiscal milestone by recording a nominal budget surplus of Rs. 9.5 Bn in the first six months (H1) of 2026, marking a dramatic turnaround from the Rs. 405.6 Bn deficit reported in H1 2025. • Key Fiscal Indicators - Government Revenue: Surged 27% YoY to Rs. 2,956.0 Bn. - Total Expenditure: Rose a modest 8% YoY to Rs. 2,946.5 Bn. - Primary Surplus: Expanded significantly to Rs. 1,244.1 Bn (up from Rs. 859.0 Bn in H1 2025). - Economic Growth: GDP expanded by 5.1% in Q1 2026 (vs. 4.7% in Q1 2025). • Revenue Contributors - Tax Revenue: Increased 26% YoY. - Inland Revenue Department: Met 52% of its annual collection estimate. - Sri Lanka Customs: Reached 59% of its annual target, driven by strong collections from motor vehicles. - VAT on Imports: Grew 25% YoY to Rs. 443.7 Bn. - Non-Tax Revenue: Jumped 44% YoY. • Expenditure & Debt Costs - Recurrent Expenditure: Rose 7% YoY. - Interest Payments: Dropped 2% YoY to Rs. 1,234.6 Bn, easing debt servicing pressure. - Public Investment: Capital expenditure and net lending surged 24% YoY to Rs. 276.6 Bn.

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📈 ADB Extends US$ 200 Mn to Shield Sri Lanka from Middle East Conflict Impact

• Overview: The Asian Development Bank (ADB) is deploying a US$ 200 Mn policy-based loan to protect Sri Lanka's economy from rising costs and regional uncertainty caused by the conflict in the Middle East. • Funding Breakdown: - Loan Structure: Provided under Sri Lanka’s Trade, Investment, and Industry Development Program. - Immediate Cushioning: Includes US$ 100 Mn in additional financing to directly absorb economic pressures and external shocks. • Core Targets & Sector Reforms: - Modernize national trade systems and supply chains. - Enhance competitiveness and market reach for small and medium-sized enterprises (SMEs). - Attract new foreign investments into designated economic zones. • Economic Impact: - Supports private sector-led growth, employment generation, and export diversification. - Helps Sri Lankan enterprises integrate into regional and global value chains to build long-term economic resilience against future external crises.

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📈 Sri Lanka Business Confidence Rebounds to 151 in July Amid Macro Recovery

• Business Sentiment (BCI): The LMD-PepperCube Business Confidence Index surged 19 points to 151 in July 2026, reversing a 20-month low of 132 in June. The barometer sits 25 points above its historic median (126), though it trails its 12-month average (170) and the July 2025 figure (190). • Macro Economic Performance: The World Bank reclassified Sri Lanka as an upper-middle income economy following a 5.0% expansion last year. Q1 2026 GDP grew 5.1% YoY, driven by growth in industry (+7.2%), services (+3.4%), and agriculture (+1.1%). • Market Developments: LP gas distributors Litro and Laugfs cut retail prices in early July in line with falling global energy costs, though anticipated fuel subsidies are yet to take effect. • Key Risks & Outlook: Business optimism remains cautious due to external threats. The IMF raised its 2026 global inflation forecast to 4.7%, citing potential supply chain disruptions and market instability from Middle East conflicts.

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📈 Sri Lanka Tax Revenue Hits Rs. 5.05 Trillion, But Indirect Tax Imbalance Widens

Sri Lanka’s tax-to-GDP ratio rose to 15.4% in 2025 as total tax revenue reached Rs. 5.05 trillion (up from Rs. 1.75 trillion in 2022). However, reliance on consumption taxes leaves the direct-to-indirect tax mix heavily skewed at 22.6% vs 77.4%. • Tax Breakdown & Revenue Figures: • Total Tax Revenue: Rs. 5.05 Trillion (2025) • Income Tax (Direct): Rs. 1.14 Trillion (22.6% of total, up 11.0% YoY) • Indirect Taxes (Goods, Services & External Trade): Rs. 3.91 Trillion (77.4% of total) • Tax Ratio: Rs. 3.4 collected in indirect tax for every Rs. 1 of direct tax • Drivers of Revenue Growth: • VAT collections surged 33.4% YoY to Rs. 1,746.9 billion, driven by a 49.2% jump in import VAT. • Excise duty on motor vehicles skyrocketed to Rs. 471.8 billion (up from Rs. 58.6 billion in 2024) following the lifting of import suspensions in Feb 2025. • Registered taxpayer files grew 19.2% YoY to 1.3 million. • Global & Regional Benchmarks: • Indirect taxes account for 70.8% of Sri Lanka's revenue compared to the Asia-Pacific average of 50.0% and the OECD average of 31.2%. • Direct taxes (corporate income tax & personal income tax) make up only 23–27% of tax revenue, well below the Asia-Pacific average (38.8%) and OECD average (35.6%).

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📈 Govt Approves Rs. 2.8 Bn Regional Industrial Projects to Boost Employment

The Cabinet of Ministers has cleared land allocations for 23 new manufacturing and industrial ventures across 13 regional industrial estates on 35-year lease agreements. • Overall Investment & Jobs: Total investment exceeds Rs. 2.8 billion, expected to generate 870 direct jobs. • Regional Development: Implemented by the Ministry of Industry and Entrepreneurship Development to drive balanced industrialisation, decentralise production, and expand economic opportunities outside major urban hubs. • Selection Process: Proposals underwent a multi-stage evaluation by the Regional Industrial Service Committee (under Industrial Promotion Act No. 46 of 1990) and the Ministry's Project Evaluation Committee. The initiative reinforces Sri Lanka's focus on regional manufacturing, industrial diversification, and local employment growth.

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📈 Sri Lanka Faces $5.5 Bn Reserve Gap Ahead of 2027 Debt Servicing

• Debt Obligations: Annual external debt servicing will jump to US$ 4.5–5.0 Bn starting 2027–2028 under IMF guidelines, following the end of post-2022 grace periods. • Reserve Position: - Gross Official Reserves stand at US$ 6.5–6.8 Bn, but net usable reserves hover around US$ 5.0–5.3 Bn (excluding the restricted US$ 1.4 Bn PBOC swap). - A total reserve buffer of US$ 10.0–12.0 Bn is required for 3–4 months import cover, leaving an active gap of US$ 4.5–5.5 Bn. • Currency & Intervention: CBSL faces tension between buying forex to build reserves and preventing Sri Lankan Rupee volatility. Policy experts urge a rule-based crawling band mechanism rather than hard pegs or free-floats. • Trade & Forex Leakages: Recommends plugging trade mis-invoicing loopholes via integrated CBSL-Customs data tracking (UIN/TIN) and strengthening enforcement under the Foreign Exchange Act. • Tariff Reform: Suggests rationalizing border levies (CESS, PAL) into a simplified two-tier customs structure while shifting revenue collection to domestic VAT to curb smuggling and lower consumer costs.

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⚠️ CoPF Raises Concerns Over PDMO Capacity to Manage Rs. 31.1 Tn Debt

• Debt Portfolio & Oversight Parliament’s Committee on Public Finance (CoPF) expressed serious concerns over whether the Public Debt Management Office (PDMO) possesses the technical capabilities, governance framework, and specialist expertise required to manage Sri Lanka’s Rs. 31.1 Tn government debt portfolio following the transfer of duties from the Central Bank. • Institutional Readiness & Staffing Fully operational since December 2025, CoPF warned that even a 10-basis-point error in borrowing decisions could have severe financial implications. • Approved Cadre: 80 staff positions (around 60 currently filled). • Executive Roles: Most filled; 1 Assistant Director-General position remains vacant pending disciplinary proceedings. • Training Budget: CoPF criticized the Finance Ministry’s Rs. 2 Mn training allocation as inadequate for managing billions in borrowings. The PDMO was ordered to submit a formal Training Needs Assessment within two weeks to justify higher budget allocations. • Strategy & Market Challenges The PDMO's medium-term strategy focuses on reducing reliance on Treasury Bills, increasing longer-term Treasury Bonds, and lowering external debt. However, CoPF questioned whether these goals are achievable given elevated domestic interest rates, urging the office to build in-house market expertise rather than relying on monetary policy to lower borrowing costs.

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📊 S&P Affirms Sri Lanka’s 'CCC+/C' Rating with Stable Outlook

S&P Global Ratings has affirmed Sri Lanka’s sovereign credit ratings at 'CCC+/C' with a stable outlook, reflecting continued economic growth and fiscal reform despite elevated external risks. • Overall Credit Profile & Metrics Long- & Short-Term Foreign/Local Currency: Affirmed at 'CCC+/C'. Transfer & Convertibility Assessment: Revised upward to 'B-' from 'CCC+'. Real GDP Growth: Projected at 3.8% in 2026 (down from 5.1% in Q1) and 4.2% in 2027. Fiscal Deficit: Forecast at 5% of GDP in 2026, narrowing toward 4% by 2029. Net Government Debt: Projected at ~92% of GDP in 2026, declining to ~83% by 2029. • External & Sector Performance Gross Official Reserves: Stood at US$ 6.45 Bn in June (down from US$ 6.88 Bn in May). Current Account: Expected to return to a deficit of 1.7% of GDP in 2026 as imports rise. Revenue & Trade: Revenue boosted by lifting vehicle import restrictions and tax reforms; however, tourism arrivals dropped ~10% in June alongside slowing remittances. • Key Risks & Outlook External Vulnerabilities: Heightened risks from Middle East conflict, higher energy/fuel costs, and dependence on imported fuel and fertiliser. Rating Catalysts: Sustained fiscal/external improvement could trigger an upgrade, while renewed liquidity or funding stress could lead to a downgrade. Continued adherence to the IMF EFF program remains central to stability.

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Registrations Open for Sri Lanka Economic & Investment Summit 2026 📈

The Ceylon Chamber of Commerce has opened registrations for the 26th edition of the Sri Lanka Economic & Investment Summit (SLEIS 2026). • Event Details: Scheduled for October 12–13, 2026, at Shangri-La Colombo. • Core Theme: _"Positioning Sri Lanka in a Changing Global Economy: Resilience, Reform, and the Future of Economic Policy."_ • Key Stakeholders: Senior government officials, policymakers, international investors, development partners, and business leaders. • Strategic Focus: Moving beyond economic stabilization toward private sector-led growth, attracting foreign investment, enhancing competitiveness, and boosting global market integration. • Key Highlights: Feature addresses, high-level panel sessions, investor engagement, and sector discussions aimed at accelerating export diversification, trade, and national growth. • Registration: Open early due to limited capacity via [https://sleis.chamber.lk/](https://sleis.chamber.lk/). Contact Alikie (011 558 8805) or Shaunuka (070 108 2541).

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Sustainability, ESG & Corporate Responsibility

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

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

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🐘 Sri Lanka Gazettes Three Major Elephant Corridors to Curb HEC

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

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🐆 National Forum Launched to Strengthen Sri Lankan Leopard Conservation

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

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

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

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📉 ADB Urges Urgent Water Security Investments Across Asia-Pacific

• Regional Challenge: Around 220M people in Asia-Pacific lack basic water supply, while 520M lack basic sanitation. Over 40% of global flood events occur in the region, with 4 Bn people facing risks from unreliable water and water-related disasters. • National Context (Sri Lanka): ADB highlighted ongoing support for operational reforms in Sri Lanka to reduce costly water distribution losses and improve efficiency, aligning with broader regional economic stability goals. • ADB Financing: The ADB committed US$ 12.7 Bn to the water sector from 2021 to 2025, benefiting 63M people across projects in Fiji, the Philippines, and Sri Lanka. • Japan Partnership: A new ADB-administered fund with Japan aims to bolster disaster preparedness, hydropower energy links, and infrastructure. Key focus areas include integrated river basin management and decentralized wastewater treatment. • Progress: Despite challenges, 2.7 Bn people in Asia-Pacific have moved out of extreme water insecurity since 2013, based on ADB's Asian Water Development Outlook (Dec 2025).

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## 📈 Reviving Sri Lanka's Sugar Industry: Gal-Oya Plantations

• Overview: Gal-Oya Plantations continues to drive economic and social development in the Eastern Province through the revival of the sugar and agriculture sectors, operating as a public-private partnership with a 51% government stake and 49% held by Browns and LOLC. • Operational Recovery: Following its restart in 2006 under the Eastern Reawakening Development Programme, the company rehabilitated critical infrastructure, including damaged access roads and deteriorating irrigation canals linked to the Senanayake Samudraya. • Farmer Support & Cultivation: The company provides comprehensive assistance—including seed cane, fertilizer, technical guidance, machinery, and round-the-clock protection teams against wildlife crop damage (such as elephants and wild boar)—to secure stable household incomes. • Community Development: Beyond commercial operations, Gal-Oya Plantations actively invests in local educational infrastructure, student scholarship programmes, and religious and cultural institutions across all faiths in the region.

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📈 Sri Lanka’s Falling Female Labour Participation Highlighted in Care Economy Call

• Labour Participation Deficit: Female labour force participation in Sri Lanka dropped from over 45% in 1990 to ~30% today, reversing decades of economic progress. • Unpaid Care Burden: Department of Census and Statistics data shows 56% of non-participating women cite domestic/care responsibilities (vs. 5% of men). Women carry 86% of all unpaid care work in Sri Lanka, spending 4 extra hours daily on domestic tasks and 1 extra hour on direct care compared to men. • Corporate Sector Impact: Support infrastructure directly improves performance. Workplace interventions by major employers in apparel & textiles, such as MAS Holdings, showed that introducing crèche facilities reduced factory floor absenteeism by ~9%. • Systemic & Cultural Barriers: Infrastructure like daycares and backup care eases immediate pressure, but societal expectations and stigma around institutional care continue to limit women's career trajectories, promotions, and economic independence. • Policy & Action Needed: Aligning with ILO’s 2024 Decent Work and Care Economy framework, experts advocate for a structured care economy—combining public infrastructure, corporate care policies, and flexible arrangements for both men and women.

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🌿 Hayleys Plantations Partners with UNDP BIOFIN to Pioneer Ecosystem Financing

Hayleys Plantations has partnered with UNDP BIOFIN to advance Payment for Ecosystem Services (PES) mechanisms across its plantation sector landscapes, rewarding long-term investments in water resources, biodiversity, carbon storage, and soil conservation. • Estate-Level Initiatives: • Horana Plantations PLC (Bambarakelly Estate): Focuses on watershed conservation, protecting critical catchments, enhancing biodiversity, and integrating renewable energy. • Talawakelle Tea Estates PLC: - Great Western Estate: Prioritizes watershed conservation to ensure long-term water security. - Wattagoda Estate: Partners with the Pekoe Trail Organisation on Sri Lanka’s first tourism-led PES initiative, linking sustainable tourism with biodiversity restoration. • Kelani Valley Plantations PLC (Halgolla Estate): Developing a replicable PES model centered on regenerative agriculture and landscape restoration. • Strategic Context: • The collaboration establishes scalable, nature-based financing frameworks within commercial landscapes, integrating sustainability into Sri Lanka’s tea and agricultural production to strengthen both ecological resilience and long-term economic value.

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Citi Sri Lanka Transforms Mawela Kanishta Vidyalaya in Wadduwa 📈

• Initiative Overview: Citi Sri Lanka partnered with ChildFund Sri Lanka for its flagship annual volunteer program, Citi Global Community Day 2026, targeting infrastructure and environment upgrades at Mawela Kanishta Vidyalaya in Wadduwa. • Key Upgrades & Impact: • Donated a clean water system for students. • Restored classrooms with fresh paint and wall murals. • Repaired sanitary facilities and executed greening initiatives. • Organized a friendly cricket match between volunteers and students to foster community connections. • Corporate Social Responsibility: The initiative supports human capital development by building safe learning environments, aligning with long-term banking & financial services sector CSR commitments to strengthen local communities.

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🌸 Siddhalepa Rebuilds Kirivehera Flower Stall Complex in Kataragama

• Project Overview: Siddhalepa Group reconstructed and handed over the flower stall complex along the historic access road to Kataragama Kirivehera Rajamaha Viharaya. • Heritage & Vision: The initiative honors the legacy of late Founder Dr. Victor Hettigoda, who established the original complex in the 1980s. • Socio-Economic Impact: The project supports women's economic empowerment and self-employment, providing stable incomes for local families in the ayurveda & wellness and local retail ecosystem. • Collaborators: Built with assistance from the Sri Lanka Navy and planned alongside the National Physical Planning Department.

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Super El Niño 2026-2027: Sri Lanka Faces Dual Threat of Drought & Flash Floods 📉

• Climate Indicators & Status: Pacific sea surface temperatures reached +1.7°C in mid-June 2026, confirming a strong El Niño. The CPC indicates a 97% probability of it persisting into early 2027. Current warming is stronger than early phases of the 1997 and 2015 events. • Indian Ocean Counter-Drivers: • Indian Ocean Dipole (IOD): ~60% probability of a positive IOD developing by late 2026, which may offset El Niño drying by boosting Second Inter-Monsoon (Oct–Nov) rainfall. • Madden-Julian Oscillation (MJO): Currently weak and unlikely to impact weather in the coming months. • Agricultural & Hydropower Risks: • Drier conditions threaten the Northeast Monsoon (Dec–Feb), a critical water source for paddy cultivation and reservoir levels in the Dry Zone. • Positive IOD could cause intense downpours with longer dry spells, risking flash floods/landslides without filling water capacity evenly. • Late IOD onset increases exposure to severe dry spells, impacting tea, paddy/rice cultivation, irrigation, and hydropower generation. • Outlook: Key developments from August–September 2026 will determine whether Sri Lanka faces severe dry spells or localized floods. Stakeholders are advised to prepare for both scenarios.

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Rotary International Vice President Visits Sri Lanka for Landmark South Asian Summit 📈

• Event Highlight: Rotary International VP Muruganandam M. (“MMM”) visited Sri Lanka to discuss hosting the upcoming Rotary Institute, returning to the island after a 21-year gap. • Economic & Tourism Impact: The event is expected to host over 1,000 regional delegates across South Asia (Zones 4, 5, 6, and 7: India, Nepal, Bhutan, Maldives, and Sri Lanka), providing a boost to local hospitality & MICE tourism. • Key Leadership: Chaired by Gowri Rajan, Sri Lanka's first female Rotary Governor, the forum will serve as a hub for strategic planning, leadership, and regional humanitarian projects.

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

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

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

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Product & Service Launches / Business Expansions

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🎓 STC @ 175: Transforming Heritage into a National Engine for Education

S. Thomas’ College (STC) outlines a visionary strategic framework to leverage its 175-year legacy, four campuses, and global alumni network to expand tertiary and secondary educational access across Sri Lanka. • STC Higher & Tertiary Expansion: Plans to establish STC Higher, a degree-granting tertiary institution offering internationally accredited degrees. Aims to position Sri Lanka alongside regional global education hubs like Singapore, Malaysia, and India. • Digital Inclusion & "Thomian Digital Campus": Launching a unified platform to stream top-tier instruction from Mount Lavinia to rural areas like Ampara. Integrating AI-driven adaptive tutoring, automated gap-analysis, and accessibility features (screen readers, sign-language companions). • National Talent Search & Satellite Scholars: Establishing a free annual national aptitude program to identify talent based on reasoning rather than curriculum access. Selected "Satellite Scholars" will be paired with alumni companions for mentorship, residential camps, and regional hub access without needing to relocate. • Broader Educational Vision: Education & Skill Diversification: Holistic evaluation recognizing capability in sport, arts, enterprise, and leadership alongside traditional A/L & O/L examination ranks. Focuses on trilingual and English-medium proficiency across Sinhala, Tamil, and Muslim communities to drive social cohesion and national employment readiness.

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🏛️ New Northern Regional Archive Expands Public Access

• Service Decentralization: The opening of the Northern Regional Archives under Sri Lanka's Department of the Registrar General brings public administrative services directly to the Northern Province. • Essential Documentation: Residents can now obtain critical legal records—including birth, marriage, and death certificates—locally, eliminating the historic need to travel to Colombo. • Efficiency & Convenience: The local facility resolves long-standing travel inconveniences for the public, supporting broader regional convenience and improving regional public service delivery.

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📈 SLCBCC Partners with Intex-InMac 2026 to Boost Textile Trade

• Event Details: The Sri Lanka-China Business Cooperation Council (SLCBCC) partnered with Intex-InMac Sri Lanka 2026 to drive bilateral investment, trade, and sourcing partnerships for the apparel & textiles sector. The event takes place from 5–7 August 2026 at the BMICH, Colombo. • Exhibitor Figures: • 250+ domestic and international exhibitors representing 15+ countries and regions. • 130+ Chinese textile companies, marking the largest-ever Chinese participation in Intex-InMac history. • Strategic Impact & Focus: • Provides Sri Lankan manufacturers direct access to China's advanced functional, recycled, and eco-friendly raw materials to fulfill Western compliance standards. • Facilitates curated B2B meetings, technical workshops, and networking to explore long-term commercial partnerships and supply chain innovations. • Supports global competitiveness and diversification within Sri Lanka's primary industrial export sector.

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📈 Gateway College Acquires Prime Lands' Regent Country Club in Malabe

• Transaction Overview: Gateway College has acquired the 3.2-acre Regent Country Club property in Malabe from Prime Lands (Pvt) Ltd to establish a new state-of-the-art international school. • Strategic Sector Alignment: The deal strengthens Gateway's expansion in education within Greater Colombo's fast-growing residential region, aligning with Prime Group's focus on large-scale real estate projects. • Property Facilities: The 3.2-acre site includes a banquet hall, conference rooms, offices, a swimming pool, and a gymnasium, serving as foundational infrastructure for the new school campus. • Milestone Context: The landmark transaction coincides with both Gateway Group and Prime Group celebrating their 30th anniversaries this year. • Network Expansion: Facilitated via a phased acquisition approach, the new campus joins Gateway’s existing network of international and Springfield colleges operating across Rajagiriya, Kandy, Negombo, Dehiwala, Ratmalana, Borella, and Nugegoda. [The Regent Country Club Malabe Overview](https://www.youtube.com/watch?v=e5DrVF0IH3A) This video provides a visual tour of the Regent Country Club property in Malabe prior to its transition into a school campus.

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🎬 Scope Cinemas to Anchor The Shoppes at City of Dreams Sri Lanka

The Shoppes at City of Dreams Sri Lanka has announced Scope Cinemas as a major anchor attraction on Level 10, set to open before the end of 2026. • Development Overview: The addition marks a key expansion step since The Shoppes opened in August 2025 within South Asia's first and largest integrated lifestyle destination. • Entertainment Infrastructure: The facility will feature a five-screen multiplex equipped with next-generation cinema technology, alongside two exclusive VIP halls with private lobbies and gourmet dining. • Strategic Context: The phased expansion (currently operating Levels 7 & 8) will soon roll out the waterfront ground floor and Levels 9 & 10, introducing a new food court, expanded entertainment, and nightlife offerings to elevate tourism & retail infrastructure in Colombo.

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📱 PickMe Partnering with Dialog Pay to Expand LankaQR Payments

PickMe has integrated with Dialog Pay, allowing over 1.9 million consumers to make secure LankaQR payments across its mobility and delivery platform. • Service Coverage: Available for PickMe Rides, Flash Delivery, and Trucks services, as well as orders up to Rs. 2,500 for Food and Market. • Ecosystem Scale: Connects PickMe’s network of over 165,000 driver/delivery earners and 5,000+ merchant earners to Dialog Pay’s 100,000+ retail outlet network. • Consumer Rewards: Eligible LankaQR transactions made via Dialog Pay will earn users complimentary Dialog data to encourage digital adoption. • Economic Impact: Accelerates Sri Lanka's shift toward a cash-light economy by connecting major players in the fintech, mobility, and e-commerce sectors.

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📈 ONGC Launches First Deepwater Exploration Well Off Odisha Coast

• Project Overview: Oil and Natural Gas Corporation (ONGC) has begun drilling its first deepwater exploratory well, MN-DW18-1-H-D, in the Mahanadi offshore basin, located ~23 nautical miles from the Konark discovery off Odisha. • Strategic Context: Launched under the Samudra Manthan Campaign, the initiative follows the Centre opening ~1 million sq km of restricted offshore space for oil & gas exploration under the Open Acreage Licensing Policy (OALP). • Resource Estimates: India’s eastern and western offshore basins (depths up to 3,000m) are projected to contain over 5,600 million tonnes of oil equivalent (MTOE) in hydrocarbon potential. • Technical & Economic Impact: Supported by ONGC’s new Deepwater Exploration Mission Centre (DeepX) in Mumbai, the project aims to scale domestic production, mitigate import dependence, and build long-term energy security.

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📈 SriLankan Airlines Boosts Regional Connectivity with Maldivian Partnership

• New Interline Agreement: SriLankan Airlines has partnered with Island Aviation Services (Maldivian) to streamline travel across 17 domestic destinations in the Maldives. • Seamless Itineraries: Passengers can now book multi-carrier journeys using a single electronic ticket via Velana International Airport (Malé) and Gan International Airport. • Flight Operations: The national carrier maintains three daily frequencies to Malé and two weekly frequencies to Gan Island, integrating its global network with domestic island transit. • Economic Impact: Expected to drive passenger traffic, boost sales on regional routes, and enhance corporate and leisure travel convenience between Sri Lanka and the Maldives archipelago.

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📈 AI Legal-Tech Firm 3Rive Joins Anthropic Partner Network

• Partnership Milestone: Australian-headquartered AI legal technology firm 3Rive Technologies has become an official partner in Anthropic’s global Claude Partner Network. • Global & Local Footprint: Serves law firms across the UK and Australia, anchored by its primary engineering and AI development centre located in ICT/BPM and software services hub, Sri Lanka. • Ecosystem Development: Plans to host public Claude workshops, live build demonstrations, and meetups in Colombo to foster local engineering talent and position Sri Lanka on the global AI map. • Operational Integration: Embeds Anthropic's Claude models across its internal functions and delivers legal technology solutions through its trademarked Cognitive Outsourcing model.

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Premium Bogawantalawa Tea Debuts at Tamimi Markets in Saudi Arabia ☕📈

• Market Expansion: Sri Lanka launched its premium tea brand, Bogawantalawa Tea (under the Ceylon Tea Gardens brand), at Tamimi Markets in Riyadh on 9 July 2026. • Exclusive Retail Partnership: Bogawantalawa Tea Ceylon will supply its product range exclusively to Tamimi Markets, the leading hypermarket chain in Saudi Arabia. • Bilateral Trade Impact: Sri Lanka's Ambassador Ameer Ajwad highlighted Saudi Arabia as a key destination for Ceylon Tea. He noted steady growth in Sri Lankan exports to the Kingdom and proposed establishing a dedicated "Sri Lanka Corner" at Tamimi Markets to further diversify the national export basket. • Industry Focus: Company executives emphasized Bogawantalawa's century-old heritage, product innovation, and corporate social responsibility efforts benefiting local estate communities in Sri Lanka.

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📈 Dubai Partners with Julius Baer to Attract Global Wealth

The Dubai Department of Economy and Tourism (DET) signed a strategic agreement with Swiss wealth manager Julius Baer to attract global private clients, family offices, and business owners. The partnership aligns with the Dubai Economic Agenda (D33) to scale long-term capital allocation and private enterprise. • Partnership Scope & Network Julius Baer will leverage its global network spanning over 25 countries and 60 locations to drive investment into Dubai. Group assets under management reached CHF 547 Bn as of June 2026. • Private Wealth Ecosystem Expansion DIFC-based family-related entities surged to 1,289 (up 61% YoY by year-end 2025). DIFC-established family foundations reached 1,115 (up 66% YoY). • Strategic Context Highlights Dubai's focus on international wealth management, family offices, and institutional credibility amidst shifting global economic dynamics. (Note: Directly relevant to global wealth flows, but data on direct impact to Sri Lanka's financial services or FDIs is not specified).

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Blackstone Expands Regional Footprint with New Office in Kuwait 📈

• Global Expansion: US-based Blackstone, the world's largest alternative asset manager, announced plans to open a new office in Kuwait via the Kuwait Direct Investment Promotion Authority (KDIPA). • Timeline & Strategy: The Q3 launch aims to strengthen Blackstone's GCC presence, with plans to announce additional regional offices across the GCC over the coming year. • Economic Context: The strategic move is aligned with supporting Kuwait's long-term economic diversification and reinforcing the region as a destination for sustainable growth and investment.

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Politics & Government Impact

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Addressing Sri Lanka’s Ethical Decay & Governance Crisis 📈

• Overview: Sri Lanka faces systemic moral, ethical, and governance degradation driven by deep-rooted corruption, illicit drug networks, and collusion between political figures, law enforcement, and criminal entities. • Systemic Reforms Required: - Rule of Law & Anti-Corruption: Rebuilding public trust through impartial law enforcement and elimination of political patronage systems. - Religious & Monastic Reforms: De-institutionalizing commercialized religious structures, eliminating caste-based Nikayas, and updating monastic codes to restore ethical leadership. - Education & Social Frameworks: Shifting education focus from pure economic output to civic responsibility, character building, and joint school-home support systems. • Economic & National Impact: Overcoming institutional decay and corruption is vital to establishing a stable environment for long-term growth, investor confidence, and holistic development for future generations.

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📲 Organised Social Media Trolling Targets Opponents of Judicial Retirement Age Extension

• Rising Online Harassment: Concerns are growing over organised social media campaigns, threats, and intimidation aimed at deterring public scrutiny and silencing critics of recent Sri Lankan Government decisions. • Legal & Religious Bodies Targeted: Bar Association of Sri Lanka (BASL) President Rajeev Amarasuriya and the Church of Ceylon (Anglican Church of Sri Lanka) have faced online attacks after voicing strong opposition to the Cabinet's move to extend the retirement age of Supreme Court and Court of Appeal judges. • Risks to Judicial Independence: Critics and religious leadership warn that amending judicial retirement ages could compromise the independence and impartiality of the judiciary while undermining the rule of law. • Political & Democratic Context: The ruling NPP is facing criticism for relying on organised digital supporters to intimidate opponents, mirroring tactics of previous administrations and raising broader concerns regarding governance, institutional integrity, and democratic debate.

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⚖️ Former IGP & Defence Secretary Remanded to Prison Following Death Sentence

• Verdict & Custody: Former Inspector General of Police (IGP) Pujith Jayasundara and former Defence Secretary Hemasiri Fernando were taken into prison custody following a death sentence delivered by the Colombo Permanent High Court Trial-at-Bar. • Key Findings: In a majority decision, the three-judge bench found both former top officials guilty of criminal dereliction of duty, murder, and aiding and abetting murder. The court ruled that they failed to act on prior intelligence warnings regarding imminent security threats. • National Impact & Context: The ruling relates to the 21 April 2019 Easter Sunday terrorist attacks across Sri Lanka, which left 260 people dead and hundreds injured. The landmark judgment highlights institutional accountability and oversight within national security & defense frameworks, setting a precedent for public sector governance and legal responsibility.

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⚖️ MP Dayasiri Petitions CIABOC Over Judges' Retirement Age Plan

• CIABOC Complaint: Opposition MP and Attorney-at-Law Dayasiri Jayasekara has filed a petition with the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) against the Cabinet of Ministers. • Allegations: The petition asserts that the Cabinet's proposal to extend judges' retirement ages via a constitutional amendment constitutes unlawful "gratification", "favour", or "benefit", violating Sections 93, 100, 104, and 111 of the Anti-Corruption Act, No. 9 of 2023. • Judicial Independence & Conflict of Interest: Jayasekara argues the extension threatens judicial independence and the separation of powers, creating a direct conflict of interest if Supreme Court judges must adjudicate on legislation that directly benefits them. • Legal Rationales Questioned: The petition claims the plan is unjustified by court administration, noting that case backlogs are concentrated in Magistrates' and District Courts rather than higher courts. • Requested Actions: • Conduct a preliminary inquiry under Section 42 of the Anti-Corruption Act. • Examine Cabinet papers, official records, and question relevant officials from the Ministry of Justice and Legal Draftsman's Department. • Direct the Government of Sri Lanka to halt the proposed constitutional amendment pending investigation.

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📢 Selected Youth for Israeli Jobs Plan Peaceful Protest Over Delays

• Key Issues & Demonstration Details • Nearly 3,000 youth selected under the Government-to-Government (G2G) recruitment program for Israel's construction sector plan a peaceful protest on 6 August 2026 (9:00 a.m. – 12:30 p.m.) at the Parliament Roundabout, Battaramulla. • Candidates are urging intervention from President Anura Kumara Dissanayake to address prolonged recruitment delays, lack of transparency, and unfair treatment. • Candidate Grievances & SLBFE Concerns • Candidates fulfilled all requirements—including professional examinations, interviews, and the official Israeli lottery selection—yet many have waited over 1 year without employment agreements or explanations. • Protesters report that private recruitment agencies appear to receive a higher volume of job agreements for similar roles, raising serious fairness concerns regarding the Sri Lanka Bureau of Foreign Employment (SLBFE). • Protracted uncertainty has led to financial and emotional hardship for affected candidates and their families. • Economic Context & Sector Focus • The issue impacts key segments of Sri Lanka's foreign employment and construction labor export programs, where candidates seek a transparent administrative review to facilitate timely foreign deployments.

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⚖️ Empowering Legal Aid to Tackle Sri Lanka’s Prison Overcrowding Crisis

Sri Lanka’s penal system faces severe overcrowding, with remand prisoners under trial comprising 60%–70% of total inmates, largely due to lack of legal support or unaffordable bail. Over 1,000 in-prison deaths were recorded over 5 years, highlighting urgent needs for judicial reform. • Severe Overcrowding & Costs: • Negombo Prison currently holds nearly 2,600 inmates against a statutory capacity of 650. • Maintaining a remand prisoner costs the state Rs. 1,200 to Rs. 1,800 per day. • When Legal Aid Commission (LAC) attorneys represent indigent suspects, bail approval rates exceed 70% for minor offenses, offering significant fiscal savings. • Legal Aid Commission Deficits & Bottlenecks: • Net financial deficit widened sharply from Rs. 8.8 million in FY2023 to Rs. 30.74 million in FY2024. • Handled over 127,000 consultations in 2024 with a limited staff of 272 and Rs. 307 million funding. • Key hurdles include outdated eligibility criteria (unrevised Rs. 15,000 monthly income ceiling), low salary scales, IT infrastructure backlogs, and underfunded regional centers. • Way Forward & Structural Reforms: • Department of Prisons exploring alternative custodial options like house arrest and digital Prison Management Systems. • Enhancing state allocation to legal services & legal representation can directly reduce prison congestion and national treasury expenses.

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🇦🇺 Australia Pledges AUD 2 Mn Assistance for Sri Lanka Dengue Control & Disaster Recovery 🤝

Australia’s Special Envoy for Indian Ocean Affairs, Tim Watts, has concluded his visit to Sri Lanka, reaffirming Canberra’s commitment to bilateral cooperation across dengue prevention, disaster preparedness, maritime security, and trade & investment. • Health Assistance & Dengue Control: Australia announced AUD 2 Mn in development assistance to support the proposed Sri Lanka Wolbachia Project aimed at controlling mosquito-borne dengue infections following Cyclone Ditwah. • Humanitarian & Emergency Response: Funding is part of Australia's broader AUD 7 Mn humanitarian package. The visit featured the ceremonial handover of two inflatable rescue boats to the Disaster Management Centre, with disaster assessment drones scheduled for delivery to the National Building Research Institute. • Maritime Transshipment & Logistics: Watts inspected the South Asia Gateway Terminal at the Port of Colombo, highlighting Sri Lanka's strategic position as a regional transshipment hub and discussing shared Indian Ocean maritime interests. • Bilateral Sectoral Engagement: Discussions with Mass Media Deputy Minister Dr. Kaushalya Ariyarathne focused on opportunities in the media sector, alongside engagements with the Australia-Sri Lanka Parliamentary Friendship Group and the Pathfinder Foundation on regional connectivity and economic stability.

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📈 JVP and CPI(M) Hold Talks on Sri Lanka Economic Reforms & Governance

• Economic & Governance Agenda: Leaders from Sri Lanka's Janatha Vimukthi Peramuna (JVP) and India's Communist Party of India (Marxist) [CPI(M)] met in Colombo to discuss national economic stabilisation efforts, anti-corruption initiatives, and dismantling privilege-based political structures. • Sector & Welfare Focus: Discussions highlighted key public welfare measures and wage increases in the plantation sector, alongside governance reforms undertaken by the National People’s Power (NPP) government. • Key Delegation: JVP General Secretary Tilvin Silva and Minister Bimal Ratnayake hosted senior CPI(M) leaders Prakash Karat and Brinda Karat, exchanging views on regional political developments and the political shift that led to the NPP's governing coalition.

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🚢 Colombo Port Upgrades Health Infrastructure with Japanese Grant Support

• Key Highlights: • Health & Mass Media Minister Dr. Nalinda Jayatissa and Japanese Ambassador Akio Isomata inaugurated the new Colombo Port Health Office. • The project aims to strengthen Sri Lanka’s border health security and boost capacity to detect and prevent public health threats entering via the Port of Colombo. • National & Economic Impact: • Enhances international maritime health compliance and border biosecurity for Sri Lanka's primary trade hub. • Safeguards cross-border supply chains and logistics operations against public health disruptions.

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Govt Launches Public Complaint Drive to Enhance Public Service Integrity 🏛️

• Overview & Timeline The Sri Lankan Government has launched a public complaint campaign themed ‘A Culture of Integrity – A Clean Sri Lanka’. Jointly organized by the Presidential Secretariat and the Clean Sri Lanka Program, the drive commenced during National Integrity Week 2026 (27–31 July) and is extended across all state and semi-government institutions through 31 December 2026. • Submission Channels Citizens are invited to report corruption, misconduct, and administrative issues via multiple platforms: • QR codes • Email, post, and telephone • Web-based messaging channels • Key Mechanisms & Oversight • Internal Affairs Units across all state bodies will manage public complaints. • A dedicated digital monitoring system will track actions taken by institution heads to drive strict accountability. • Implementation kicked off with the administration of the National Integrity Pledge and a new Code of Ethics across public bodies, pursuant to a circular issued by President's Secretary Dr. Nandika Sanath Kumanayake. • Strategic Impact The initiative seeks to eliminate corruption while enhancing transparency, operational efficiency, and delivery across public administration and the broader public service sector.

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⚖️ BASL Unanimously Opposes Proposed Judges' Retirement Age Amendment

• Key Resolution: The Bar Association of Sri Lanka (BASL) unanimously passed a resolution at its largest-ever Special General Meeting (attended by 3,000–4,000 lawyers) unequivocally opposing the Government's proposed constitutional amendment to extend the tenure of serving judges. • Core Concerns: The BASL cited a lack of institutional necessity, evidence, and prior consultation with the judiciary, Bar, or civil society. It warned that the measure risks placing sitting Supreme Court judges in a conflict of interest and violates international judicial independence standards. • Key Recommendations: BASL urged the Government to prioritize filling existing judicial vacancies in the Supreme Court and Court of Appeal rather than altering tenures. It called for focus on court infrastructure & technology modernization, procedural efficiency, and clearing case delays. • Action Plan: BASL leadership has been authorized to take all appropriate steps nationally and internationally to safeguard judicial independence and oppose measures impacting the legal sector.

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🏛️ NPP Lawyers Back Proposed Judicial Retirement Age Reforms

Lawyers for Public Mandate (LPM), affiliated with the National People’s Power (NPP), have defended proposed constitutional amendments to raise judicial retirement ages, aiming to address judge shortages and reduce court case backlogs. • Proposed Retirement Age Revisions: • Supreme Court: Raised to 67 (from 65) • Chief Justice: Serves until 67 or max 6 years from appointment • Court of Appeal: Raised to 65 (from 63) • High Court: Raised to 63 (from 61) • Magistrates & District Judges: Raised to 62 (from 60) • Key Context & Rationale: • Addressing capacity issues: Only 93 of 110 approved High Court positions are currently filled. • Part of the government's broader anti-corruption agenda and legal system reforms. • Aligns with international standards (e.g., Australia/Denmark at 70, Canada/Brazil at 75). • Dismissed claims that the move threatens judicial independence or targets individual benefits, attributing criticism to politicians facing unresolved corruption cases.

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Appointments & Executive Moves

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

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

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📈 Ceylon Tobacco Appoints Adrian Lee Peng Yong as Finance Director

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

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🏛️ Tribute: H.M.R. Ellepola’s Key Contributions to CBSL & Economic Policy

• Macroeconomic & Fiscal Policy Guidance: Led early macroeconomic assessments during 1970s liberalisation and the accelerated Mahaweli Development Project. Built foundational frameworks later used to establish the Credit Information Bureau (CRIB) (1990) and introduce domestic credit rating systems like Fitch Ratings (1998). • Inflation Control & Monetary Reforms: Managed severe quantitative credit controls in the 1980s, successfully bringing inflation down from above 25% within two years. Standardized the Central Bank of Sri Lanka (CBSL) annual budgeting process and modernized reserve money control frameworks (later applied at the Central Bank of Seychelles). • Financial Sector & Capacity Building: Served as Secretary to the Monetary Board and Executive Director overseeing public debt, currency issue, and banking operations. Advanced professional banking standards as Vice Chairman of the Institute of Bankers of Sri Lanka (IBSL), introducing postgraduate qualifications, curriculum overhauls, and formal convocation ceremonies.

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📈 Tribute to Dr. Lester Massingham: A Legacy in Management Education

The global and Sri Lankan management communities mark the passing of renowned scholar, educator, and strategic management consultant, Dr. Lester Massingham. • Academic & Professional Contributions: • Durham University graduate and influential author of global textbooks, including _Essentials of Marketing_ and _Marketing Case Studies_. • Played a key role in strengthening professional marketing education through the Chartered Institute of Marketing (UK). • Impact on Sri Lanka's Corporate & Academic Sectors: • Crucial in developing national postgraduate management education, specifically shaping Master and Doctor of Business Administration (MBA/DBA) programs. • Advised top Sri Lankan organizations on marketing & strategic management, building local human capital, executive leadership, and corporate capabilities. • Legacy: • Widely recognized for advancing rigor, strategic thinking, and mentor-driven growth across both academia and the broader business ecosystem.

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⚖️ Prof. G. L. Peiris to Form Trust Fund for Legal Research at UoC and Sri Lanka Law College

Initiative: Prof. G. L. Peiris has announced plans to establish a Trust Fund using royalties from his legal publications (>10 books on Sri Lanka’s legal systems) to finance research and academic initiatives. Beneficiaries: The Faculty of Law at the University of Colombo (UoC) and the Sri Lanka Law College. Governance: The proposed trustees will be the Vice-Chancellor of UoC, the Principal of Sri Lanka Law College, and the Dean of UoC's Faculty of Law. Journal Revival: The announcement was made at the launch of the revived Sinhala-language journal, ‘Nitiya’ (originally published in 1958, revived in 2024), which aims to foster analytical legal writing, including emerging areas like artificial intelligence (AI), judicial critique, and legislative contributions.

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📈 Shemara Wikramanayake to Retire as Macquarie CEO with $ 860M+ in Shares

Sri Lankan-origin Shemara Wikramanayake, 64, has announced her retirement as CEO of Macquarie Group after eight years at the helm and nearly four decades with the firm. She will officially step down in November 2026 and be succeeded by Greg Ward, Head of Banking and Financial Services. • Executive Compensation & Holdings: Wikramanayake departs with over $ 860 million (A$ 1.3+ Bn) in total equity, including 1.47M direct shares valued at $ 375M+, alongside restricted and performance share units. Her total remuneration last year was nearly $ 30 million, making her Australia’s fifth highest-paid CEO. • Corporate Governance: At a tense Annual General Meeting (AGM), Macquarie avoided a "second strike" board spill despite pushback on executive pay packets from groups like the Australian Shareholders' Association. • Fossil Fuel & Climate Backlash: Leadership faced intense grilling from shareholder collectives over funding massive fossil fuel expansions, such as the Beetaloo Basin gas fracking project, which investors argued directly contradicts the Paris Agreement. • Financial Performance: Wikramanayake leaves the financial services titan in a strong position, having recently reported a 30% increase in full-year net profit to $ 4.85 billion.

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New Secretary Appointed for Transport, Highways & Urban Development 📑

• Key Leadership Appointment: President Anura Kumara Dissanayake has appointed Eng. Dr. Asiri Karunawardena as the Secretary to the Ministry of Transport, Highways, and Urban Development. • Official Handover: The official letter of appointment was presented by Dr. Nandika Sanath Kumanayake, Secretary to the President, at the Presidential Secretariat. • Background: Prior to assuming this top administrative role overseeing national infrastructure & urban development, Dr. Karunawardena served as the Director General of the National Building Research Organisation (NBRO).

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🤝 JICA & EDB Reinforce Partnership to Boost Sri Lankan Exports

A delegation from the Japan International Cooperation Agency (JICA) paid an official courtesy call on the Sri Lanka Export Development Board (EDB) to review ongoing technical cooperation and discuss future strategies for strengthening export development. • Leadership Transition: • Welcomed newly appointed JICA Chief Representative, Mr. Shigeo Honzu. • Acknowledged outgoing Chief Representative, Mr. Kenji Kuronuma, for his contribution to bilateral economic cooperation. • Key Areas of Engagement: • Reviewed past joint programs focused on technical cooperation, capacity building, and enhancing export competitiveness. • EDB leadership (Chairman/CEO Mr. Mangala Wijesinghe & Acting DG Mr. Erandika Dissanayake) acknowledged JICA's ongoing support in empowering the local trade and investment ecosystem. • Future Focus & Strategic Goals: • Explored new initiatives aimed at expanding market access for local business ventures. • Emphasized institutional capability building, sustainable growth, and driving long-term economic progress for Sri Lankan exporters.

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📈 Sri Lanka Emerges as a Global Hub for Leadership and Digital Innovation

• Landmark Event: EY Global Delivery Services (EY GDS) hosted its largest-ever event in Colombo at Cinnamon Life, bringing together nearly 3,500 global professionals and senior leadership. • Economic Vision: Prime Minister Dr. Harini Amarasuriya emphasized the National Digital Economy Strategy, aiming to embed AI-first operations, expand ICT/BPM exports, and establish Sri Lanka as a regional innovation hub. • Talent & Growth: The milestone celebration honoured internal promotions and highlighted Sri Lanka's rapidly growing potential as a premier destination for talent development, digital technology, and high-value global services.

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👔 Sanath Manatunge Appointed Chairman of Employers’ Federation of Ceylon (EFC)

Mr. Sanath Manatunge, Managing Director/CEO of the Commercial Bank of Ceylon, has been appointed as the Chairman of the EFC for the 2026/27 financial year. The appointment took place at the federation's 97th Annual General Meeting. • Leadership & Transition: Mr. Manatunge succeeds Mr. Dinesh Weerakkody. He will serve alongside Vice Chairman Mr. Dinal Peiris (Chairman/MD of Lanka Aluminium Industries PLC Group). • Strategic Focus: In his inaugural address, Mr. Manatunge emphasized the EFC’s commitment to driving labour law reforms to support future-ready businesses, promoting responsible business practices, and engaging constructively with tripartite stakeholders to strengthen Sri Lanka's employment landscape. • Industry Expertise: Bringing over 36 years of experience in the banking and finance sector, Mr. Manatunge has led Commercial Bank as MD/CEO since May 2022. He previously managed major expansions in the bank's corporate loan book, trade finance, personal banking, and digital banking infrastructure. • National Roles: He concurrently holds prominent leadership positions across the economy, serving as Chairperson of the Sri Lanka Banks’ Association (SLBA), and as a member of the UNICEF Business Council, the Ceylon Chamber of Commerce, and the Central Bank of Sri Lanka’s Stakeholder Engagement Committee.

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👔 HNB General Insurance Strengthens Board with Elite Leadership Appointments

HNB General Insurance Ltd. (HNBGI) has appointed Lakshman Silva as Non-Executive/Nominee Director and Sandra De Zoysa as Independent/Non-Executive Director to its Board. The strategic additions aim to accelerate digital scaling and transform customer service architecture. • The Strategic Objectives: The appointments are positioned to elevate financial strategy, regulatory frameworks, and drive future-ready disruption across service channels, pushing HNBGI toward its goal of becoming Sri Lanka's most customer-centric general insurer. • Lakshman Silva (Financial Governance): Brings over 30 years of banking acumen. He is the former CEO of DFCC Bank PLC (2017–2021) and former Chairman of the Sri Lanka Banks' Association. He currently chairs LankaPay and Panasian Power PLC, and serves on multiple boards, including Seylan Bank and HNB Life PLC, alongside the Central Bank's Stakeholder Engagement Committee. • Sandra De Zoysa (Digital & CX): A globally recognized leader with over three decades in the ICT/BPM industry. She spent 28 years at Dialog Axiata PLC, serving as Group Chief Customer Officer and Managing Director of Dialog Business Services. She is a founding member and first Chairperson of SLASSCOM, and currently heads CEx Consulting and the Sri Lanka Institute of Directors' Women Directors Forum.

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Sri Lankan Leader Vera Wickramasinghe Elected President of Global Logistics Network FFN 📈

• Historic Milestone: Vera Wickramasinghe, Managing Director of Worldlink Shipping Colombo, has been elected President of the Freight Forwarder Network (FFN) – Netherlands. She is the first female President and the first from outside Europe and the US in the network's history. • Global Leadership: The election took place at the FFN AGM in Barcelona, Spain. Wickramasinghe, founder of Worldlink Shipping and winner of the WCIC Prathibhabhisheka Women Entrepreneur Award 2025, will lead strategic expansion and collaboration across the network's 48 member countries. • Sri Lanka's Logistics Footprint: This high-profile appointment underscores the rising international recognition of Sri Lankan professionals in the global logistics & freight forwarding sector. It builds on the momentum of Colombo successfully hosting the FFN’s 15th AGM at ITC Ratnadipa, cementing the country’s profile as an emerging regional logistics hub.

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Regulatory & Policy News

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Govt. Lines Up Policy Reforms to Drive $5 Bn Digital Exports Target 📈

• Target & Strategy: Sri Lanka targets US$ 5 Bn in digital exports by 2030 through key regulatory, tax, and procurement overhauls aimed at creating a favorable headquartering environment. • Financing & Venture Capital: • Cabinet paper expected within weeks to launch a 'Fund of Funds' to boost startup financing. • Finalizing tax reforms on venture capital tax pass-through issues. • Revising capital mobility rules to allow foreign-funded startups to invest in overseas expansion. • Ease of Business & Virtual SEZ: • Establishing a virtual Special Economic Zone (SEZ) to reduce administrative barriers for high-growth tech firms. • Procurement reforms to give domestic technology firms easier access to public sector contracts. • AI & Innovation Push: Plans underway for an Applied AI Institution, an AI Centre of Excellence, and dedicated research and IP incentives to drive industry growth.

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🏛️ Police Move to Confiscate Illegal Assets Worth Rs. 772 Mn in 2026

• Overview: The Sri Lanka Police provided an update on their ongoing contribution to the "Ratama Ekata" national initiative during a special media briefing held at the "Ratama Ekata" National Operation Headquarters and Media Centre. • Key Figures & Action: • Law enforcement agencies are executing measures to confiscate illegal assets valued at Rs. 772 million accumulated through unlawful operations in 2026. • Interventions aim to dismantle organized financial crime networks, safeguarding national economic stability and enhancing transparency in the country's financial landscape. • Data Note: Summary is based on provisional updates disclosed during the briefing.

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🚨 Sri Lanka Customs Seizes Rs. 4.5 Bn Worth of Narcotics in 9 Months

• Overall Figures: Sri Lanka Customs seized over 396 kg of illicit narcotics valued at an estimated street value of Rs. 4.5 billion across 55 successful raids between October 30, 2025, and July 2026. • Substance Breakdown: Seizures primarily consisted of Kush, cannabis, cocaine, and methamphetamine (Ice), highlighting targeted enforcement against high-value illicit drugs entering the market. • Recent Enforcement: Intensified anti-trafficking efforts in July 2026 alone yielded 5 separate detections, accounting for 25.4 kg of intercepted narcotics.

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Sri Lanka Judicial Reform Debate: Government vs. Bar Association ⚖️

A significant constitutional debate has emerged in Sri Lanka over proposed judicial reforms, balancing court efficiency against judicial independence. • Government Reform Agenda: The Ministry of Justice proposes amending the Constitution to increase the retirement age of Supreme Court and Court of Appeal judges. The move aims to retain experienced judges, preserve institutional memory, and reduce massive case backlogs. Broader goals include modernising court administration and accelerating digitalisation across the legal sector. • Bar Association (BASL) Objections: The Bar Association of Sri Lanka (BASL) and international bodies like the Commonwealth Lawyers’ Association oppose extending retirement ages without broad stakeholder consultation. Key objections include: • No clear evidence that extending tenure resolves chronic litigation delays. • Previous judge cadre expansions under the 20th Amendment failed to eliminate delays. • Potential risks to judicial independence and public trust. • Immediate Priorities & Sector Consensus: Legal professionals urge the Government to prioritize filling existing vacancies—specifically 4 in the Supreme Court and 4 in the Court of Appeal—before altering constitutional safeguards. There is strong consensus on improving lower court capacity, digital case-management systems, and procedural efficiency to address core bottlenecks.

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📈 Concerns Rise Over Aggressive Tax Enforcement on Sri Lankan MSMEs

• Key Operational Pressures: MSMEs face heavy tax burdens, including 18.5% VAT, 2.5% SSCL, costs of mandatory digital payments, and thin profit margins, threatening business survival and local employment. • Legal & Procedural Shifts: Under new VAT Act amendments, the period to initiate criminal proceedings for tax non-compliance has extended from 5 to 12 years (retrospective up to 2014), creating severe documentation and defense challenges for small enterprises. • Enforcement Impact: Intensive Inland Revenue Department (IRD) enforcement has led to court actions, asset liquidations, and imprisonments—such as ~600 businessmen brought to court within a single month in Central Province to meet targets. • Calls for Reform: Industry advocates urge policymakers to distinguish between intentional tax fraud and genuine inability to pay due to bankruptcy, calling for structured repayment plans to protect jobs, long-term tax compliance, and national economic growth.

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🌐 AI as a Global Force & Sri Lanka's Strategic Role 📈

• Global Vision & Potential: AI holds transformative potential beyond economic productivity, capable of advancing human civilization by boosting agriculture, education, healthcare, and legal services, while driving scientific discovery and strengthening food security. • Key Implementation Challenges: Translating global AI principles into practice faces hurdles including geopolitical polarization, commercial dominance by large tech firms, and unequal benefit distribution across nations. • Resource & Environmental Impact: The global expansion of AI data centres imposes massive demands on energy and water resources. Responsible management is critical for developing nations to protect vulnerable communities and maintain long-term environmental sustainability and energy security. • Sri Lanka's Strategic Imperative: To avoid widening economic inequalities, Sri Lanka must actively secure its seat in global AI governance initiatives, ensuring technological progress aligns with national development priorities, human compassion, and sustainable growth.

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📈 Sri Lanka Customs Sets Oct 1 Digital Transition, Revenue Surges

• Digital Shift & Security: Sri Lanka Customs will launch its Paperless Customs Declaration Processing System on 1 Oct, integrating LankaSign digital signatures with the ASYCUDA platform. The secure online shift aims to enhance efficiency, prevent fraud, and modernize trade processes without job losses for clearing agents. • July Revenue Outperformance: Customs collected Rs. 227.6 Bn in the first 27 days of July, surpassing its monthly target of Rs. 192.4 Bn (+18.3% over monthly target) and extending its above-target streak to 7 consecutive months. • Annual Revenue Trajectory: Cumulative collections reached Rs. 1,606.7 Bn by 27 July, fulfilling 73% of the 2026 annual target (Rs. 2,207 Bn) in under 7 months. The 2026 target is set 13.5% lower than 2025’s record revenue of Rs. 2,551 Bn (which grew 64.2% YoY from Rs. 1,553 Bn in 2024), driven by anticipated drops in motor vehicle import duties. • Macro Context: Performance continues to bolster national fiscal consolidation, driven by stricter enforcement, improved valuation practices, and recovering trade volumes.

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⚖️ Legal Challenge Over Rice & Sugar Use in Sri Lankan Beer Production

• Legal Action & Hearing Date: The Court of Appeal has fixed 2 October to hear objections regarding a petition seeking to block regulators from approving rice and sugar as primary raw materials in beer production. • Regulatory & Legal Basis: Filed by licensed liquor sellers, the petition contends that Section 2 of the Excise Ordinance defines beer strictly as a malt-based beverage, rendering the use of rice and sugar as primary ingredients contrary to law. • Economic & Sector Impact: The petition highlights that diverting rice—supported by heavy state agricultural subsidies—to commercial brewing could jeopardize Sri Lanka's national food security, undermine domestic rice self-sufficiency goals, and misallocate public resources. • Key Parties Named: Respondents include the Commissioner General of Excise, Sri Lanka Standards Institution (SLSI), the Attorney General, the Inspector General of Police (IGP), and major liquor manufacturing companies.

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📈 US Effective Tariff Rate Drops to 7.4% Following New Section 301 Regime

• Overall Figures & Policy Shift: The U.S. Effective Tariff Rate (ETR) declined from 9.4% to 7.4% after the temporary 10% Section 122 global surcharge expired on July 24 and was replaced by targeted Section 301 tariffs covering 60 economies. Revised Fitch Ratings estimates using annualized Jan–May 2026 trade flows also contributed to the rate reduction. • Sector & Trade Shifts: U.S. imports of tariff-exempt electronics & semiconductors rose significantly from US$ 340 Bn in 2024 to approximately US$ 800 Bn in 2026. Meanwhile, imports from China dropped by 43% over the same period, significantly shifting U.S. import composition. • Top Markets & ETR Movements: • China: Rose to 22.3% (from 19.2%), maintaining the highest ETR among major partners. • Brazil: Increased to 14.8% (from 11.4%), incorporating a 25% Section 301 tariff. • India: Decreased to 8.3% (from 10.7%). • Vietnam: Reduced to 10.2% (from 13.2%). • Mexico: Dropped to 3.7% (from 5.0%). • Canada: Climbed to 5.3% (from 4.1%), with an additional 50% tariff on US$ 17 Bn of motor vehicle, dairy, and wine imports scheduled for Aug 19, 2026. • Framework Regimes: Section 301 applies a fixed 10% additional duty on imports from India, Mexico, Canada, and the UK, and 12.5% on China and Vietnam. EU and Taiwan imports face capped combined MFN and Section 301 rates of up to 10%, while Japan, South Korea, and Switzerland are capped at 12.5%. _(Based on provisional annualized Jan–May 2026 trade data)_

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📦 EDB Prepares Ceylon Cinnamon Exporters for EU Packaging Standards

The National Packaging Centre (NPC) and Export Agriculture Division (EAD) of the Sri Lanka Export Development Board (EDB) conducted a workshop on "Cinnamon Packaging and Compliance with EU Regulations" on July 22, 2026, drawing nearly 100 participants, exporters, and GI Association members. • Key EU Regulations & Timelines: The workshop focused on the EU Packaging and Packaging Waste Regulation (PPWR), which took effect on February 11, 2025, and faces full enforcement from August 12, 2026. Non-compliance risks market bans, fines, and product recalls. • Critical Action Points for Exporters: Exporters in the spices & agricultural exports domain were urged to implement immediate compliance steps, including: - Eliminating PFAS and heavy metals from packaging - Preparing EU Declarations of Conformity - Ensuring operator identification - Registering under Extended Producer Responsibility (EPR) schemes across EU member states • National & Economic Impact: For Sri Lanka's Ceylon Cinnamon industry—which holds Protected Geographical Indication (PGI) status in the EU—aligning with PPWR standards is crucial to protect brand authenticity, sustain market access, and enhance buyer trust. • Resource Panel & Sector Support: Experts from Control Union Sri Lanka and packaging consultant W. Abhaya Seneviratne provided technical guidance on compliant materials, waste reduction, and product safety. Through this, the EDB aims to modernize Sri Lanka's packaging sector to strengthen global competitiveness.

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Cabinet Approves Merger of Gem & Jewellery Bodies 💎

• Key Institutional Reform: The Cabinet of Ministers approved integrating the Gem and Jewellery Research and Training Institute (established in 1995) as a dedicated Research and Training Division under the National Gem and Jewellery Authority (NGJA). • Strategic Rationale: Proposal submitted by Minister of Industry and Entrepreneurship Development Sunil Handunneththi aims to eliminate operational duplication, optimize resource allocation, and remove policy inconsistencies between parallel state entities. • Legal Alignment: Authorization granted to initiate necessary legal amendments under the provisions of the National Gem and Jewellery Authority Act, No. 50 of 1993 to formalize the unified operational framework. • Industry Context: Focuses on streamlining efficiency and strengthening state oversight to boost Sri Lanka's high-value gem & jewellery export sector.

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📈 Sri Lanka Accelerates IP Reforms to Boost US Trade & Investment

• Key Targets & System Modernization: • Sri Lanka is accelerating legal, digital, and border enforcement reforms to strengthen its IP ecosystem and attract foreign investment, particularly with the US—its largest single export destination. • National Intellectual Property Office (NIPO) aims to cut registration timelines to ~8 months by mid-2027, reducing backlogs from current delays of 1 year for trademarks and 2 years for patents. • Record digitization with WIPO was completed; online trademark searches launched in Feb 2026, with full online IP registration services slated for next year. • Sector & Industry Impact: • Apparel & Textiles: The Joint Apparel Association Forum (JAAF) warned that counterfeit trade has become an organized criminal network, calling for modern cargo scanning and IP protection covering proprietary fabric technologies, construction techniques, and manufacturing specs. • ICT/BPM: Tech leaders emphasized that IP protection intersects with cybersecurity under the Personal Data Protection Act (PDPA), noting that continuous software licensing updates are vital against AI-powered threats. • Agriculture & GIs: Focus remains on strengthening Geographical Indications (GIs) for products like Ceylon Cinnamon to protect collective producer rights globally via the Lisbon Agreement. • Enforcement & Challenges: • Sri Lanka Customs holds ex-officio powers to seize and destroy counterfeit goods under the Customs Ordinance, while the CID Commercial Crime Unit has investigated ~25 trademark counterfeit cases in recent years. • Key bottlenecks remain: public awareness gaps, limited institutional capacity, and multi-year opposition proceedings that hinder small enterprises.

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Industry & Sector News

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Colombo Port Records 11.9% Growth in 1H 2026 Container Throughput 📈

• Overall Performance: - Total container throughput reached 4.44 Mn TEUs in 1H 2026, marking an 11.9% YoY increase compared to 3.97 Mn TEUs handled in 1H 2025. • Cargo & Segment Breakdown: - Transshipment: Maintained core business focus, accounting for 84.7% of total throughput and growing 12.6% YoY. - Domestic Cargo: Registered a healthy 8.3% YoY growth. - Terminal Operations: Colombo International Container Terminals (CICT) handled 1.64 Mn TEUs, contributing 37% of overall volume. • Vessel Arrivals & Services: - Total vessel calls increased 2.5% YoY to 2,066 ships (up from 2,016). - Container vessels grew 0.8% YoY to 1,797 calls. - Break-bulk vessel calls recorded a notable 55.6% YoY jump, while liquid bulk rose 5.3% YoY. - Value-added maritime services (bunkering, ship repairs, and ship chandelling) surged 24.4% YoY to 107 calls. • Strategic Growth: - Operational progress in Sri Lanka's ports & logistics sector is supported by ongoing capacity expansions, digitalization, equipment modernization, and reduced vessel turnaround times, aiming to position Colombo among the top 15 busiest global container ports.

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🏛️ NIHS EXPO 2026 Opens to Mark Centenary Milestone

• Overview The National Institute of Health Sciences (NIHS), Kalutara, officially inaugurated the "NIHS EXPO 2026" Educational Exhibition and its Centenary Museum to commemorate the institute's 100th anniversary. • Key Highlights • Opened under the patronage of Dr. Nalinda Jayatissa, Minister of Health and Mass Media. • Showcases a century of landmark achievements in Sri Lanka's healthcare and public health training sectors. • Serves as a key public platform celebrating the institute's historic contribution to national health human resources and community health development.

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🐆 Reforming Yala: Strategic Solutions to Overcrowding & Managing Tourism

• Current Challenges: Up to several hundred vehicles enter Yala daily, leading to traffic jams at leopard sightings, physical risks to animals and visitors, and reputational harm to Sri Lanka's wildlife tourism brand. • Vehicle Distribution & Differential Pricing: To protect employment for safari drivers while tackling congestion, the entire 1,500 sq km complex could be managed with multiple entry/exit gates and numbered routes. Tiered pricing (e.g., $25, $75, $150) allows budget flexibility while capping vehicle density on premium tracks. • Diversifying Beyond Leopards: Proposals urge expanding eco-tourism offerings, including interactive visitor centers, screening auditoriums, cafes, hides with trained naturalists, and fenced 5–10 acre guided walking spaces. • Educational & Experiential Drives: Introduction of low-cost ($10), short 1-hour educational drive-in zones focusing on flora, birdlife, and ecology helps disperse crowd pressure away from apex predators. • Economic Benefits: Maintaining current vehicle entry numbers preserves local driver livelihoods and vehicle hire income, while reduced driving distances within designated routes increase profitability and visitor satisfaction.

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📈 Sri Lanka Tourism Revenue Drops 11.8% in H1 2026 Amid Data Revisions & Middle East Tensions

• Overall Revenue & Targets - Government 2030 target: US$ 8.5 Bn in revenue for the tourism sector to aid national economic recovery. - 2025 performance: Arrivals grew 15.1%, but earnings rose marginally by 1.6% to US$ 3.22 Bn. - H1 2026 performance: Revenue fell 11.8% YoY despite recording 1.14 Mn tourist arrivals. • Official Stance & Industry Concerns - Tourism Minister Vijitha Herath clarified revenue is not declining, but figures now reflect internationally accepted survey methods correcting past inflated data. - Analysts urge repositioning Sri Lanka as a high-value destination to boost yield per visitor. - Middle East military tensions pose risks to European arrivals by threatening critical aviation transit hubs. • Top Source Markets - India leads arrivals with over 300,000 visitors (~25% of total). - SLTDA Chief noted Indian visitors spend an average of US$ 154/day, higher than the overall average of US$ 148/day. • Promotional Roadmap - The Government plans to launch a Rs. 3.5 Bn global destination branding campaign by late 2026 or early 2027 to drive high-spending arrivals.

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📈 SL Port Delays Raise Concerns Amid Growing Indian Competition

Sri Lanka’s Parliamentary Sectoral Oversight Committee (SOC) on Infrastructure and Strategic Development has warned that expansion delays at the Port of Colombo could weaken the country’s competitive position in the regional maritime & logistics sector. • Transshipment Exposure: - Transshipment cargo accounts for 84.5% of Port of Colombo's total container throughput, with a significant portion linked to trade with India. - The sector serves as a vital national source of foreign exchange earnings, port revenue, and employment. • Regional Competitive Threats: - Rapid expansion of India’s Vizhinjam International Seaport (24m natural draft). - Mediterranean Shipping Company’s (MSC) investment in the Indian transshipment hub. - Development plans across regional ports, including Hambantota, Galle, and Kankesanthurai. • Capacity Goals & Audit Demands: - Port of Colombo aims to double its container handling capacity to 15 million TEUs by end-2026. - SOC requested an impact assessment on Indian developments and called for a comprehensive audit into SLPA procurement bottlenecks and implementation delays. - Central Bank of Sri Lanka (CBSL) cautioned that geographical advantage alone is no longer sufficient to maintain Colombo’s dominance as South Asia’s primary hub.

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🌊 Sri Lanka Top Choice for Indian Travelers Seeking Coastal Diversity

Search data from digital travel platform Agoda highlights a surge in demand from Indian travelers expanding their international beach escapes for July and August. Sri Lanka is emerging as a premier destination due to its diverse coastal offerings beyond traditional beach stays. • Key Destinations & Attractions: • Arugam Bay: Gaining traction as a leading South Asian surfing hub. • Trincomalee: Popular for serene marine life and calm bays. • Mirissa: Major draw for whale-watching experiences. • Galle & Bentota: Favored for historical charm and classic beach retreats. • Market & Economic Impact: • Broadens Sri Lanka's appeal within the tourism sector, supporting market diversification and local coastal economies. • Positions the island alongside major regional competitors like Bali, Phuket, and Mediterranean spots. • Industry Sentiment: Agoda notes Indian travelers are increasingly seeking variety, immersive culture, and different coastal landscapes over standard island holidays.

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🚌 104 New Metro Buses Arrive to Modernize Sri Lankan Public Transport

• Overview: A total of 104 brand-new Metro buses arrived in Sri Lanka on Wednesday (29) as part of national efforts to upgrade the efficiency, capacity, and service quality of the public transport network. • Fleet & Accessibility: Imported from China’s Foton International Corporation, the low-floor buses are designed to improve passenger comfort and accessibility, particularly for elderly commuters and persons with disabilities. • Operational Rollout: The fleet will operate under Lanka Metro Transit—a subsidiary of the Sri Lanka Transport Board (SLTB)—with commercial deployment expected across key urban transit routes by September 2026. • Economic Sector Impact: The fleet addition supports infrastructure development and urban commuter efficiency, enhancing productivity within Sri Lanka's broader transportation & logistics sector.

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📈 Sri Lanka Tourism Crosses 1.3 Mn Arrivals as Indian Market Drives July Recovery

• Overall Performance: Sri Lanka welcomed 167,401 tourists during the first 26 days of July (provisional data), edging up by 0.11% YoY compared to 167,218 in 2025. Daily average arrivals reached 6,439, rebounding strongly from June's low of 124,551. Year-to-date (YTD) arrivals crossed 1.3 million, though remaining ~2% YoY lower. • Top Source Markets (July): India led with 38,785 visitors (23% of total), supported by expanded flight operations via SriLankan Airlines and IndiGo. Other top markets include the UK with 18,419 (11%), Netherlands with 10,540 (6%), China with 10,238 (6%), and Australia with 8,024 (5%). • Cumulative YTD Breakdown: India: 332,468 visitors (25% share) UK: 126,986 visitors (10% share) China: 86,409 visitors (7% share) • Key Industry Drivers: Growth in non-traditional source markets was aided by the Government’s free-visa scheme. While improved air connectivity supports recovery, long-haul travel faces regional uncertainties, making regional source markets vital for employment and economic stabilization. An interim market-specific promotional campaign is set to roll out next month to boost H2 2026 targets.

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📈 APB Hosts Technical Session on Safeguarding Banking System from Digital Fraud

• Event Overview: The Association of Professional Bankers (APB) Sri Lanka hosted its first technical session of 2026, titled "Building Trust in a Digital Era: Safeguarding the Banking System from Fraud," at the BOC Head Office Auditorium. Marking an industry milestone, it was the APB's first live-streamed session to reach outstation and overseas banking professionals. • Key Insights: • Keynote by Levent Kutluca (HSBC Managing Director / Group Head of Fraud) emphasized balancing a seamless user experience with robust security infrastructure. • Proposed an multi-stakeholder Ecosystem Approach involving governments, banks, telcos, customers, law enforcement, and media to mitigate national fraud threats. • Interactive Q&A moderated by HSBC Sri Lanka Head of Audit Dulan Abeyratne. • Industry Context & Resilience: • APB President Dilshan Perera highlighted banking & financial services cyber risks as defining systemic threats driven by an evolving threat landscape. • Urged treating cyber and fraud risk as board-level priorities built on strong governance, cross-sector collaboration, and continuous workforce upskilling.

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📈 Sri Lanka’s Innovation Gap: Execution & Institutions Hold Back Growth

• Key Trade & Economic Data: - Merchandise exports rose from US$ 8.6 Bn (2010) to US$ 12.8 Bn (2024), averaging just 3.4% annual growth. - Integration into global value chains stands at 8.1%, far behind India (26%) and Vietnam (34%). - R&D expenditure accounted for a minimal 0.11% of GDP in 2022. - Sri Lanka ranks 93rd out of 139 economies in the Global Innovation Index. • Sector Breakdown & Export Risks: - Export revenues remain heavily concentrated in traditional industries including apparel, tea, coconut, and rubber. - ICT/BPM has emerged as the second-largest export sector, but faces automation risks from rapid AI adoption. - Despite high-grade natural resources like graphite, Sri Lanka misses downstream high-value manufacturing due to weak commercialization mechanisms. • Institutional Bottlenecks: - Experts highlight that institutional weaknesses, anti-export bias, and policy fragmentation—not lack of talent—are the primary barriers. - Growth is hindered by accelerating brain drain, limited venture capital, slow legal reforms, and weak university-industry collaboration. - Economic recovery requires simultaneous alignment of trade openness, intellectual property rights, digital infrastructure, and private-sector-led innovation.

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7 Star Chakki Atta Foods Proven Low-GI in Peradeniya University Study 🌾

An independent study by the University of Peradeniya confirms that staple foods made with Serendib Flour Mills' 7 Star Chakki Atta fall within the low Glycemic Index (GI) range, offering scientific validation for healthier dietary choices in Sri Lanka's food processing and health & nutrition sectors. • Key Research Findings • Tested foods recorded low standalone GI values: roti at 44, chapati at 45, and puri at 50. • Portions demonstrated moderate Glycemic Load (GL) values between 16 and 19, indicating a steady, sustained release of energy. • Preparation variations had minimal impact on glycemic response. • Meal Pairing Dynamics • Combining atta-based foods with chickpea curry further reduced GI values. • Adding chickpea curry dropped the GI of roti from 44 down to 37, reinforcing the benefit of balanced meal combinations for glucose management. • Economic & National Impact • Addresses a critical gap in local nutritional data as Sri Lanka faces rising Type 2 diabetes rates. • Supports consumer demand for preventive health and strengthens product positioning in the national FMCG market.

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📈 Sri Lanka Convention Bureau Drives Knowledge-Based MICE Sector Growth in 1H 2026

• Strategic Focus: The Sri Lanka Convention Bureau (SLCB) executed 6 key capacity-building initiatives in 1H 2026 to upskill workforce and position Sri Lanka as a sustainable MICE (Meetings, Incentives, Conferences, and Exhibitions) hub. • Capacity & Skill Building: • Youth & Academia: Educated 250+ school students at BMICH (16 May) and 160+ undergraduates at Uva Wellassa University (20 May) on MICE tourism careers and technology trends. • Regional Hoteliers: Upskilled ~60 southern-region venue providers at NH Bentota Ceysands (10 June) on sales, pricing, and venue standards. • Guides & Operators: Trained 60 National Tourist Guides with SLAITO at SLITHM (25 June) in international guest handling and service excellence. • Industry Stakeholders: Engaged 90 corporate clients and experts at BMICH (30 June) on AI marketing and sustainability. • Academic Leadership: Conducted a "Train the Trainer" program for ~40 university lecturers at SLITHM to align higher education with global MICE industry demands. • Economic Impact: Strengthened cross-sector collaboration to expand MICE-ready regional destinations, build high-value service capabilities, and enhance long-term competitiveness in international business tourism. [Sri Lanka Tourism 2026: New Marketing Strategies, Top Source Markets & MICE Hub Development](https://www.youtube.com/watch?v=9PkIG6ghxIo) This official interview outlines Sri Lanka's broader 2026 strategic roadmap for developing Colombo into a central MICE hub and expanding its key tourism source markets.

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Corporate News

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📈 Colombo Dockyard Turns Profitable in Q1 2026 as Ship Repairing Surges

• Overall Financial Performance: - Profitability: Net Profit After Tax reached Rs. 80.2 Mn for the quarter ended 30 June 2026, reversing a Rs. 813.4 Mn loss YoY. Profit attributable to owners stood at Rs. 86.3 Mn (EPS: 22 cents). - Revenue & Margins: Revenue fell 6.8% YoY to Rs. 5.84 Bn, but cost of sales dropped 21.8% to Rs. 4.63 Bn, boosting gross profit by 250.7% to Rs. 1.21 Bn (GP margin: 20.7% vs. 5.5% YoY). - Finance Burden: Net finance expenses fell 63.8% YoY to Rs. 188.2 Mn. - Balance Sheet: Total equity grew to Rs. 15.59 Bn, stated capital reached Rs. 13.65 Bn, total assets stood at Rs. 42.58 Bn, and cash reserves reached Rs. 8.48 Bn. • Sector Breakdown: - Ship Repairing: Primary performance driver with revenue surging 48.4% YoY to Rs. 3.95 Bn and gross profit more than doubling to Rs. 1.46 Bn. - Shipbuilding: Continued facing market challenges, though gross loss narrowed significantly to Rs. 378.8 Mn from Rs. 899.6 Mn YoY. • Strategic Alignment: - Financial turnaround marks the company's 52nd anniversary and first quarter under a revised financial year aligned with parent entity Mazagon Dock Shipbuilders Ltd (holding a 51% stake). - Key focus remains on operational resilience and sustaining Sri Lanka's maritime & heavy engineering industries.

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📈 Harischandra Mills 1QFY27 Net Profit Surges 147% to Rs. 91.8 Mn

• Financial Performance: - Revenue: Rs. 1.9 Bn (+31% YoY) - PAT: Rs. 91.8 Mn (+147% YoY) - Gross Margin: Expanded to 18% • Sector Highlights: - Core food segment revenue grew 22% YoY, supported by both price and volume growth. - Segment operating profit surged 132% YoY to Rs. 83.2 Mn. • Growth Drivers & Context: - Strong performance driven by easing agricultural input/raw material costs, process improvements, and operational efficiencies. - Resilience demonstrated despite macroeconomic challenges such as inflationary pressures and elevated fuel costs.

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📈 Union Bank Posts Strong 1H 2026 Results as PBT Surges 84%

• Key Financial Highlights • Profit Before Tax (PBT): LKR 881 Mn (+84% YoY) • Profit After Tax (PAT): LKR 587 Mn (+134% YoY) • Gross Income: LKR 10,139 Mn (+19% YoY) • Net Interest Income (NII): LKR 3,148 Mn (+22% YoY) • Operational Drivers & Revenue • Net Fee and Commission Income grew 13% YoY to LKR 732 Mn, backed by steady growth in retail, SME, and corporate banking. • Operating income expanded by 58% YoY to LKR 1,250 Mn, supported by LKR 249 Mn realized from selling shares in UB Finance PLC. • Operating expenses rose by a disciplined 9% YoY. • Balance Sheet Growth • Total Assets: LKR 199.28 Bn (+15%) • Customer Deposits: LKR 130.22 Bn (+10%) • Gross Loans and Advances: LKR 136.74 Bn (+16% YoY) • Group Performance • Group PBT: LKR 997 Mn (+97% YoY) • Group PAT: LKR 604 Mn (+141% YoY) • Group Total Assets: +17% YoY

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City of Dreams Sri Lanka Celebrates First Anniversary, Positioning Colombo as South Asia’s Luxury & MICE Hub 📈

• Key Highlights: - Marks one year of operations as Sri Lanka’s largest private sector investment and South Asia's premier integrated resort. - Achieved five-star status for both luxury hotel properties on-site during its inaugural year. - Combines luxury accommodation, fine dining, world-class gaming, retail, and MICE (Meetings, Incentives, Conferences, and Exhibitions) facilities. • Economic & Sector Impact: - Boosts national hospitality, tourism, and entertainment by attracting international travelers and supporting foreign direct investment. - Generates substantial employment opportunities across hotel operations, events, retail, and auxiliary services. - Strengthens Sri Lanka's market diversification by targeting business tourism, destination events, and large-scale global conferences. • Target Markets & Sustainability: - Seeing strong visitor growth from key target markets, including India, China, and the Middle East. - Operating under strict ESG practices through NUWA and Cinnamon Life, focusing on energy efficiency, waste reduction, and responsible resource management.

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🔔 HNB Life Marks 25th Anniversary with CSE Bell Ringing Ceremony

HNB Life PLC (formerly HNB Assurance) celebrated its 25-year milestone with a Special Market Opening Bell Ceremony at the Colombo Stock Exchange (CSE), signaling its rebrand and renewed focus on Sri Lanka's life insurance market. • Milestone & Event: The ceremony brought together leadership from both HNB Life and the CSE, including HNB Life Chairman Stuart Chapman, CEO Lasitha Wimalaratne, CSE Chairman Dimuthu Abeyesekera, and CSE CEO Rajeeva Bandaranaike. • Strategic Transformation: Rebranded from HNB Assurance to HNB Life, the company outlined its singular focus on life insurance to enhance accessibility, relevance, and financial security across the national economy. • Capital Market Role: The CSE acknowledged the insurer's quarter-century of operations, highlighting its ongoing contribution to both the Sri Lankan insurance sector and the broader capital market.

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📈 Sampath Bank Empowers Northern SMEs via 5th SME Business Circle in Jaffna

Sampath Bank PLC hosted its 5th SME Business Circle at The Thinnai Hotel, Jaffna, focusing on driving growth, resilience, and long-term success for SMEs in the Northern Region. • Key Highlights & Regional Impact: • Facilitated direct dialogue between Northern entrepreneurs and bank leadership to address evolving business needs and economic strategies. • Announced implementation of Sri Lanka's first comprehensive end-to-end AI capability aimed at enhancing SME banking services and customer experience. • Sector & Sustainability Focus: • Sessions emphasized integrating sustainability into core operations—focusing on resource consumption, climate risk management, and market readiness. • Conducted economic briefings covering current market conditions and emerging growth opportunities. • Strategic Technology Showcase: • Partnered with SULECO Ltd., Markspen Holdings, and Link Agro to introduce advanced solutions in industrial automation, geospatial technology, drone applications, and sustainable agriculture to boost productivity and efficiency.

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📈 Indirect Control Change at Bogala Graphite Lanka

• Transaction Overview: AMG Critical Materials N.V. concluded a US$ 65 Mn deal transferring 100% ownership of Graphit Kropfmühl GmbH to a subsidiary of Asbury Advanced Materials Group. • Company Impact: The share transfer results in an indirect change of control at Bogala Graphite Lanka PLC, with Graphit Kropfmühl GmbH remaining the controlling parent entity in Sri Lanka's mineral & graphite mining sector. • Shareholding Breakdown (as of 31 March 2026): - Graphit Kropfmühl GmbH: 86.46% (81.8 Mn+ shares) - Government of Sri Lanka: 0.54% (509,000 shares) - Public Shareholding: 13.54% (12.8 Mn+ shares) • Market & Operations: No strategic, management, or operational changes were announced. Bogala Graphite shares closed down Rs. 2.75 (-2.01%) at Rs. 134.00.

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📈 Beruwala Resorts Secures Rs. 60 Mn Working Capital Loan from Parent

• Financial Support: Beruwala Resorts PLC has obtained a short-term working capital loan of Rs. 60 million (US$ 0.20 Mn approx.) from its ultimate parent, The Colombo Fort Land & Building PLC. • Facility Terms: The short-term loan carries an interest rate set at the Average Weighted Prime Lending Rate (AWPLR) plus 2%. • Governance & Compliance: The company's Related Party Transactions Review Committee confirmed the transaction was conducted on standard commercial terms and is not prejudicial to the interests of the company or its minority shareholders. • Sector Relevance: Provides immediate liquidity support to strengthen operational resilience within Sri Lanka's tourism & hospitality sector.

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📈 Hilton Colombo Owner HDL Records First Profit in Seven Years

State-owned Hotel Developers (Lanka) Ltd (HDL), owner of Hilton Colombo, reported a Profit After Tax (PAT) of Rs. 48.5 Bn (Rs. 48.5 million) for FY2025, marking its first return to profitability since 2017. • Overall Financials: • PAT: Rs. 48.5 million (vs. loss in prior years) • Revenue: Resilient at Rs. 5.38 billion (compared to Rs. 5.39 billion in 2024) • Gross Profit: Rose to Rs. 2.90 billion (up from Rs. 2.68 billion) • EBITDA: Increased 40% YoY to Rs. 1.22 billion (from Rs. 872 million) • Operating Profit: More than doubled to Rs. 746 million (from Rs. 311 million) • Drivers & Tourism Context: • Performance was driven by higher occupancy following late-2024 room refurbishments, restoring full inventory to 368 rooms for the first time since 2015. • Profitability was further bolstered by refinancing initiatives aimed at reducing finance costs (Rs. 623 million in 2025). • Operating backdrop was supported by Sri Lanka's record tourism & hospitality sector performance in 2025, with international arrivals surging 15.1% YoY to 2.36 million. • Growth in leisure demand, along with anticipated recovery in corporate and MICE tourism, positions HDL for sustained long-term performance.

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🏦 Nation Lanka Finance Depositor Payouts Begin 1 August 📈

• Compensation Limits: Eligible insured depositors will receive compensation up to Rs. 1.1 Mn per depositor under the Sri Lanka Deposit Insurance Scheme (SLDIS). • Payment Mechanism: Payouts will be handled through designated branches of People’s Bank via over-the-counter cash payments, crediting existing accounts, or opening new accounts. • Regulatory Context: The Central Bank of Sri Lanka (CBSL) cancelled Nation Lanka Finance PLC’s license effective 3 July 2026 under the Banking (Special Provisions) Act. • Claim Submission: • Depositors with People’s Bank accounts holding aggregate deposits below Rs. 5,000 can submit claims electronically. • All other eligible depositors must submit forms with original certificates and ID proof at designated branches. • Joint holders must submit separate claims; authorised Power of Attorney holders can act on behalf of absent depositors. • Compensation claims are allowed until 2 July 2032.

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Seylan Bank Reports LKR 6.1 Bn PAT in H1 2026, Up 10.8% YoY 📈

• Financial Performance • Profit After Tax (PAT): LKR 6.1 Bn (+10.78% YoY) • Profit Before Tax (PBT): LKR 9.3 Bn (+10.10% YoY) • Total Operating Income: LKR 25.5 Bn (+13.34% YoY) • Net Interest Income: LKR 19.6 Bn (+10.12% YoY) • Net Fee-Based Income: LKR 4.7 Bn (+20.85% YoY) • Total Assets: LKR 976 Bn (up from LKR 921 Bn) • Growth Drivers & Income Sources • Fee growth was driven by cards, remittances, trade, and loans & financial services. • Foreign exchange gains from expanded trade activity boosted other income, offsetting reduced mark-to-market gains on government securities and equity. • The results reinforce stability across banking and financial services. • Balance Sheet & Asset Quality • Loans & Advances: LKR 650 Bn (up from LKR 600 Bn) • Customer Deposits: LKR 771 Bn (up from LKR 733 Bn) | CASA Ratio: 27% • Impaired Loans (Stage 3) Ratio: 1.03% | Stage 3 Cover Ratio: 85.26% • Return on Equity (ROE): 14.74% | Earnings Per Share: LKR 9.57 • Expenses & Capital Position • Operating expenses rose 14.23% to LKR 12.3 Bn due to staff salary revisions and consumable costs. • Total Capital Ratio: 15.56% | Rupee LCR: 175.88%

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📈 Sanasa Life Capital Adequacy Rises to 123% Following Debenture Release

• Key Capital Figures: Sanasa Life Insurance Company PLC reported an improved Capital Adequacy Ratio (CAR) of 123% as of 30 June 2026. Total Available Capital (TAC) reached Rs. 941.6 Mn, keeping capital position comfortably above regulatory minimums. • Regulatory Milestone: The Insurance Regulatory Commission of Sri Lanka lifted the suspension on Sanasa Life’s long-term insurance registration earlier this month, subject to specified regulatory conditions. • Deployment of Funds: Proceeds from the unlisted debenture issue were released from escrow on 21 July and invested in Government securities, reinforcing regulatory compliance and solvency in the insurance sector.

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Awards & Recognitions

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🌱 Aitken Spence Logistics Named Sustainable Logistics Provider 2026

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

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Brandix Wins Dual Honors at Sri Lankan Sustainability Awards 2026 📈

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

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INSEE Lanka Wins Big at Sri Lankan Sustainability Awards 2026 📈

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

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🏆 CA Sri Lanka Opens Applications for TAGS Awards 2026

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

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🎓 Teen Academy Secures OBP UK Accreditation for Teen Business Program

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

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

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

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

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

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🏨 W15 Hanthana Estate Selected for Elite 50 Best Discovery Platform

Sri Lanka's boutique hospitality & tourism sector achieved international recognition as W15 Hanthana Estate was featured on the 2026 edition of 50 Best Discovery. • Global Scope: The platform added 650+ new venues in its global refresh (over 210 restaurants, 110 bars, 130 hotels, and 190 vineyards). It features 3,500+ venues across 800+ cities worldwide. • Selection Process: Establishments cannot self-nominate or apply; inclusion is strictly based on qualifying votes from 3,000+ independent global industry experts. • Property Highlights: Located in the tea country near Kandy, the luxury mountain estate offers 10 suites across a colonial-style bungalow and former stables, integrated with local activities like guided hikes to Ceylon tea plantations.

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📱 Dialog Axiata Becomes First Sri Lankan Telco to Achieve Unified ISO Certification

Leading Sri Lankan telecommunications provider Dialog Axiata PLC has completed its first fully integrated ISO certification audit, marking a key milestone for the country's telecommunications and technology infrastructure. • Key Operational Details: • Audit conducted by Quality Austria Central Asia Pvt Ltd under a single, unified framework to simplify compliance and boost operational efficiency. • Covers 10 international ISO standards spanning Quality (ISO 9001), Environment (ISO 14001), Anti-Bribery (ISO 37001), Information Security (ISO 27001), and Business Continuity (ISO 22301). • Upgraded Privacy standard (ISO 27701) to the 2026 version and expanded cloud security and continuity scope across additional physical locations. • Strategic Impact: • Establishes Dialog as the only operator in Sri Lanka maintaining a comprehensive, single-audit ISO portfolio. • Strengthens national digital resilience, corporate governance, data privacy, and risk management across key digital services supporting Sri Lanka’s ICT/BPM and enterprise sectors.

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Jetwing Hotels Secures Record 24 Tripadvisor Awards for 2026 🏨🏆

• Overall Achievement: Jetwing Hotels has earned 24 Tripadvisor Travellers’ Choice Awards for 2026, marking the highest number of honours received by any single hotel group in Sri Lanka. • Global Standing: • 23 properties ranked in the top 10% of global listings on Tripadvisor based on genuine 12-month traveler reviews. • Mermaid Hotel & Club received the elite Travellers’ Choice Best of the Best award, placing it in the top 1% of listings worldwide. • Property Highlights: Recognized properties span key tourism & hospitality hubs across Sri Lanka, including Jaffna, Kandy, Colombo, Galle, Negombo, Yala, Sigiriya, and Nuwara Eliya (e.g., Jetwing Vil Uyana, Jetwing Lighthouse, Jetwing Yala, Jetwing Colombo Seven, and Jetwing Ayurveda Pavilions). • Strategic Impact: The awards underscore the strength of Sri Lanka's travel & leisure sector, driven by high service standards and authentic guest experiences that boost the island's global brand appeal.

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📈 Sri Lanka Secures 20th Spot in Global Beach Rankings for 2026

• Global Recognition: Sri Lanka has been ranked 20th in the Travel And Tour World (TTW) Top 50 Beach Travel Destinations for 2026, highlighting its diverse coastal landscapes, natural beauty, and marine ecosystems. • Economic Impact: The international ranking underscores the vital role of sustainable coastal tourism in strengthening national economic growth, supporting local livelihoods, and promoting responsible travel. • Featured Coastlines: The editorial evaluation highlighted ten prominent local coastal spots, including world-class surf hubs like _Arugam Bay_ and _Hiriketiya Beach_, alongside popular leisure destinations such as _Unawatuna Beach_, _Mirissa Beach_, and _Pasikuda Beach_.

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NCCSL to Host 21st National Business Excellence Awards 2026 Tomorrow 📈

• Event Overview: The National Chamber of Commerce of Sri Lanka (NCCSL) will host the 21st consecutive National Business Excellence Awards (NBEA) 2026 tomorrow, July 28, at Shangri-La Colombo from 5:00 p.m. onwards. • Nominees & Scope: Over 140 nominees across 31 business categories and sectors will be unveiled during the ceremony, celebrating organizational excellence and corporate governance. • Evaluation Process: Based on a multi-stage assessment by an independent Technical and Financial Evaluation Committee chaired by Ernst & Young Partner Rajith Perera, followed by a final review co-chaired by Prof. Ajantha Dharmasiri and legal consultant Lasantha Salgado. • Key Guests: The grand event will feature French Ambassador Remi Lambert as Chief Guest alongside top corporate leaders, entrepreneurs, and diplomats, followed by a sit-down dinner and networking.

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Market News

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📉 CSE Ends Week in Red as ASPI Dips 0.2%

• Index Performance: The Colombo Stock Exchange ended the week down, with the benchmark ASPI dropping 0.2% and the S&P SL20 edging down 0.04%. On the final trading day, the ASPI fell 0.09% (-19.50 points) to 21,129.21, while the S&P SL20 declined 0.1% (-6.05 points) to 5,939.98. • Market Turnover & Activity: Daily market turnover surpassed Rs. 4.3 Bn, with over 117.1 Mn shares traded. Despite a positive morning session, afternoon profit-taking and mixed sentiment weighed on indices. High-Net-Worth (HNW) and institutional investors led activity, while retail participation remained at average levels. The main negative drag on the index came from HNB, CFIN, DFCC, HAYL, and LOLC. • Sector Breakdown: Trading was dominated by the capital goods sector, which generated 31% of daily turnover. The retailing and telecommunication sectors collectively contributed an additional 40%. • Foreign Movements: Foreign investors shifted to net buyers, generating a net inflow of Rs. 955.2 Mn.

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⛽ Global Oil Prices Dip on Increased Maritime Flows Despite US-Iran Tensions

• Market Movements & Pricing • Brent crude: Slipped 1.6% (-$1.44) to $87.59 per barrel. • WTI crude: Dropped 1.9% (-$1.59) to $82.00 per barrel. • Monthly Trend: Both benchmarks remain on track for a monthly surge of ~20%. • Key Drivers & Supply Chokepoints • Prices edged down as increased shipping flows through the Strait of Hormuz eased immediate supply fears, despite ongoing U.S.-Iran conflict and stalled diplomatic talks. • The Strait of Hormuz typically handles ~20% of global crude oil and liquefied natural gas (LNG) shipments but has faced severe blockades since February 28. • Maritime Defense & Security Coalition • Saudi Arabia is establishing a 14-nation multinational maritime defense coalition—supported by Egypt, Pakistan, Turkey, Sudan, and Djibouti—to safeguard critical energy chokepoints including the Bab el-Mandeb strait, Red Sea, and Gulf of Aden. • Economic Context • Fluctuations in global crude oil benchmarks directly impact national import bills and downstream energy & transport sector costs.

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📈 Sri Lanka Bond Auction: Full Rs. 250 Bn Acceptance Sparks Secondary Market Rally

The Treasury Bond auction saw total acceptance of the offered Rs. 250 Bn during its initial phase, supported by strong demand with a bid-to-accepted ratio of 2.43x. Post-auction buying frenzy drove secondary market yields below auction weighted averages. • Bond Auction Yields (Mixed Outcomes): • 01.02.2031: Weighted average at 11.90% (below pre-auction rate of 11.95%). • 15.10.2034: Weighted average at 12.42% (in line with market levels). • 15.08.2036: Weighted average at 12.91% (above previous closing rate). • 01.07.2037: Weighted average at 13.01% (above previous closing rate). • Direct Issuance: Additional 10% window open across maturities until 3:00 PM. • Secondary Market Activity: • Elevated auction yields triggered strong buying interest, driving yields down across various maturities (e.g., 2031 maturity dropped to 11.75%; 2034 dropped to 12.27%). • Money Market & Liquidity: • Net Surplus: Recorded at Rs. 175 Bn. • Central Bank Ops: Rs. 115 Bn deposited at SDFR (8.25%); Rs. 60 Bn drained via overnight repo auction at 8.68%. • Overnight Rates: Call money averaged 9.00%, Repo averaged 9.04%. • Forex Market: • Rupee: Marginal gain, spot USD/LKR closing at Rs. 336.00/336.10 (vs. previous Rs. 336.10/336.20). • Traded Volume: US$ 112.54 Mn (reported for July 28).

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📉 CSE Ends Two-Day Recovery: Benchmark ASPI Down 0.4%

• Market Performance - Benchmark ASPI declined 0.38% (-80.43 pts) to 21,148.71, ending a two-day rebound. - Active S&P SL20 dropped 0.26% (-15.37 pts) to 5,946.03. - Overall market breadth was negative with 138 decliners against 58 gainers. - Total market turnover reached ~Rs. 1.1 Bn on over 31.4 Mn shares traded. - Foreign investors recorded a net outflow of Rs. 710,860. • Sector & Stock Breakdown - Capital Goods: Top turnover contributor driven by Hayleys (closed flat at Rs. 225.00) and John Keells Holdings (unchanged at Rs. 19.90). Sector index dropped 0.55%. - Banking: Second largest turnover contributor; sector index declined 0.26%. Commercial Bank shed Re. 1 to Rs. 201.50, and Hatton National Bank dropped Re. 1 to Rs. 385.25. - Key counters pulling down the ASPI included SPEN, CINS, COMB, ACL, and RICH. Lee Hedges fell 75 cents to Rs. 291.75. • Investor Sentiment - Institutional & HNW interest centered on Hayleys, Hatton National Bank, and John Keells Holdings. - Mixed interest seen in Lee Hedges, Commercial Bank, and Swisstek. - Retail trading focused on Asia Siyaka Commodities, Ceylon Land and Equity, and Janashakthi Limited.

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📉 Asian Markets Waver Amid Fed Rate Uncertainty & Tech Volatility

• Global Equity & FX Trends: Asian shares struggled for direction following a volatile week driven by tech jitters and a divided US Federal Reserve. MSCI’s Asia-Pacific index fell 0.6%, Japan’s Nikkei headed for a 4.0% weekly loss, while yields on 30-year US Treasuries hit a 19-year high of 5.23%. • Energy Markets: Brent crude futures slipped below US$ 90/bbl after surging over 7% a day earlier due to escalating Middle East tensions, though regional tanker shipments continued. • Tech & Electronics Industry: - South Korea’s KOSPI fell 1% (on track for a 15% weekly slump), erasing over US$ 2 Tn in market value amid single-stock leveraged ETF sell-offs. - Samsung posted a 250-fold jump in chip profit while warning of semiconductor shortages extending into 2028. - Tech earnings diverged significantly: Microsoft gained on strong cash flow outlooks, while Meta saw stock declines following a 91% collapse in Q2 free cash flow. • US Monetary Policy: The Federal Reserve kept rates unchanged, leaving bond markets guessing. Futures now reflect a 60% probability of a rate hike in September, with 33 bps of tightening priced in by year-end.

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📈 Global Oil Slips to $89.78 Amid Middle East Volatility

• Market Figures: Brent crude fell 1.06% ($ 0.96) to US$ 89.78/bbl, reversing a 7.91% spike. WTI dropped 0.76% ($ 0.64) to US$ 83.82/bbl, following a previous 6.56% surge. • Middle East Dynamics: Escalating conflicts—including U.S.-Saudi strikes on Iran-backed forces in Iraq and U.S. attacks on Iran—temporarily spiked prices. Price gains cooled as markets priced in geopolitical rhetoric and focused on actual supply flows. • Supply Flow: Around 13 million barrels per day continue to flow from the Gulf via alternative channels and workarounds, despite the closure of the Strait of Hormuz and a Red Sea blockade. • Impact on Sri Lanka: Easing global benchmarks provide temporary relief for Sri Lanka's high petroleum import bill. Lower energy prices help stabilize operational costs for key sectors, including apparel & textiles, tea processing, and logistics, supporting broader macroeconomic stability.

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📈 Short-Term T-Bill Yields Fall for Third Consecutive Week

• Treasury Bill Auction: Short-term yields slid further as the full Rs. 140 Bn offered was raised in Phase I, with demand oversubscribed by 2.09 times. - 91-day yield: fell 9 bps to 9.86% - 182-day yield: fell 3 bps to 10.21% - 364-day yield: held steady at 10.20% • Treasury Bond Market: Secondary market yields rose selectively ahead of today's Rs. 250 Bn T-Bond auction. Maturities traded within 10.00%–12.25% ranges, supported by robust block trade volumes. • Money Market Liquidity: Net surplus liquidity expanded to Rs. 185.96 Bn, reaching a 2.5-month high. CBSL absorbed surplus liquidity via SDFR (Rs. 105.96 Bn at 8.25%), overnight Repo (Rs. 60 Bn at 8.72%), and 3-day term Repo (Rs. 20 Bn at 8.75%). • Forex Market: The Sri Lankan Rupee (LKR) appreciated against the USD, closing spot contracts at Rs. 336.10/336.20 compared to Rs. 336.20/336.30 previously, with a daily volume of US$ 102.75 Mn.

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📈 CSE Extends Recovery to Second Session as Sentiment Improves

• Overall Market Performance: The Colombo Stock Exchange continued its upward trend for a second straight session, supported by easing Middle East geopolitical tensions. • ASPI: Up 0.20% (+41.92 pts) to close at 21,229.14 • S&P SL20: Up 0.21% (+12.66 pts) to close at 5,961.40 • Market Breadth: Positive (124 gainers vs. 84 losers) • Turnover & Foreign Activity: • Market Turnover: Over Rs. 2.00 Bn (~87.5 Mn shares traded) • Foreign Flow: Net selling outflow of over Rs. 1.00 Bn • Sector & Stock Highlights: • Retailing Sector dominated turnover, contributing 51% of daily activity. • Banking and Capital Goods sectors collectively accounted for 24% of turnover. • Top ASPI Contributors: Colombo Dockyard, John Keells Holdings, Commercial Bank, ACL Cables, and NDB Bank. • Market Sentiment: Market gains were largely driven by buying interest in selected blue-chip counters, backed by high-net-worth and institutional participation, while retail activity remained at average levels.

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📈 CSE Clear Marks 1st Anniversary with LKR 1,188 Bn in Settled Trades

• Milestone Overview: CSE Clear (Pvt) Ltd, Sri Lanka's first Central Counterparty (CCP) and a fully owned subsidiary of the Colombo Stock Exchange (CSE), completed its inaugural year of operations on 28th July 2026. • Key Operational Figures: - Successfully cleared and settled LKR 1,188 Bn worth of equity market transactions. - Processed over 8 million trades with high operational reliability. • Financial & Market Impact: - Replaced counterparty risk between buyers and sellers with a central clearing framework, modernizing Sri Lanka's securities market post-trade infrastructure to align with global standards (PFMI). - Bolstered capital market stability by implementing a comprehensive margining framework and establishing a Contributory Guarantee Fund to manage defaults. • Future Outlook: - Aims to enhance operational efficiency through greater automation, expand post-trade capabilities, and support new financial market products to drive long-term investor confidence.

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## 📉 Global Oil Prices Fall Amid US-Iran De-escalation

• Market Figures: Brent crude futures dropped $1.47 (-1.66%) to US$ 86.89 per barrel; U.S. West Texas Intermediate (WTI) fell $1.45 (-1.76%) to US$ 81.16 per barrel, marking both benchmarks' lowest levels since July 20. • Geopolitical Shifts: Prices declined following signals of a potential diplomatic resolution between the U.S. and Iran, reducing immediate fears of critical energy flow disruptions. • Supply & Demand Pressures: Net crude exports through the Strait of Hormuz declined to 2.9 million barrels per day in the week ending July 24, down from 5.9 million the previous week, while Caspian Pipeline Consortium resumed Black Sea oil loadings.

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📈 Bond Yields Broadly Steady Ahead of Major Auctions & Inflation Data

Sri Lanka’s secondary bond market began the week on a subdued note as investors adopted a wait-and-see approach ahead of key debt auctions and the upcoming July CCPI inflation release. • Market Activity & Yields: Trading volumes were mostly supported by block trades as higher yields drew renewed buying interest. Selected maturity yields: • 2026: 15.12.26 traded at 10.00% • 2029: 15.09.29 traded at 11.23% • 2030: 01.07.30 (11.60%), 01.08.30 (11.62%–11.66%), 15.10.30 (11.64%–11.68%) • 2033: 15.01.33 traded at 12.25% • Upcoming Auctions: • Treasury Bills: Rs. 140 Bn offered today across 91-day (Rs. 60 Bn), 182-day (Rs. 50 Bn), and 364-day (Rs. 30 Bn) tenors—below estimated upcoming maturities of Rs. 164.11 Bn. • Treasury Bonds: Rs. 250 Bn scheduled for Thursday across 2031, 2034, 2036, and 2037 maturities. • Previous T-Bill Recap: Last week raised Rs. 154 Bn in total. Weighted average yields dropped on 91-day (-18 bps to 9.95%, dipping below 10% for the first time in 7 weeks) and 182-day (-3 bps to 10.24%), while 364-day yields held flat at 10.20%. • Liquidity & Forex: • Net Liquidity Surplus: Stood at Rs. 153.80 Bn. Call money and Repo rates averaged 9.00% and 9.03%. • USD/LKR: Spot ended steady at Rs. 336.20/336.30, with daily traded volume at $ 48.05 Mn.

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CSE Opens Week Higher as Lower Oil Prices Boost Market Sentiment 📈

• Market Indices & Movement • ASPI edged up +0.07% (+14.38 pts) to close at 21,187.22, despite paring back an early peak of 21,310.55. • S&P SL20 gained +0.10% (+6.18 pts) to settle at 5,948.74. • Breadth was positive: 113 gainers vs. 90 decliners. • Turnover & Foreign Flows • Total Turnover stood at over Rs. 2 Bn with 65.1 Mn+ shares traded. • Net Foreign Inflow reached Rs. 15.7 Mn. High-net-worth investors led turnover with robust retail engagement. • Sector Breakdown • Capital goods: Led market activity with a 42% turnover share; sector index rose +0.77% driven by John Keells Holdings (+Rs. 0.20 to Rs. 19.80) and Hayleys (flat at Rs. 225.00). • Banking: Second-largest contributor at 39% (combined with food, beverage & tobacco); sector index dipped -0.03%. Sampath Bank dropped Rs. 0.25 to Rs. 136.75, Hatton National Bank gained Re. 1.00 to Rs. 386.00, and Nations Trust Bank fell Rs. 0.25 to Rs. 305.00. • Key Drivers • Sentiment was bolstered by falling global oil prices, lower input cost expectations, and easing US-Iran tensions.

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Uncategorized

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President Joins Final Kataragama Esala Perahera Procession 🏛️

• Event Highlights: President Anura Kumara Dissanayake joined thousands of devotees to witness the final grand procession of the 2026 Esala Perahera at the historic Ruhunu Kataragama Maha Devalaya. • Key Observances: Prior to the pageant, the President visited Kirivehera Rajamaha Viharaya for religious observances, inaugurated the illumination of the temple premises, and participated in the ceremonial placement of the Sacred Relic Casket. • Cultural & Economic Significance: Highlighting the festival's role as a symbol of national unity and heritage, the President emphasized that preserving historical foundations is essential for long-term national growth alongside advances in tourism and global economic development.

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⚠️ Failed to Generate Summary: Data Unavailable

• Status: Unable to process the requested article from Daily FT (`www.ft.lk`). • Reason: Connection timed out while attempting to retrieve the content. • Note: Please provide the news text directly or try submitting the request again once the source website is accessible.

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📰 Sri Lanka Business Briefing: Cartoon (29.07.2026)

• Data Availability: The provided news item consists solely of a daily cartoon title without textual content, market statistics, or economic data. • Summary Status: No summary can be generated due to missing information.

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📈 Book Review: 'Hundred Capsules of Motivation' by Tharindu Dananjaya Weerasinghe

• Overview: Authored by University of Kelaniya academic Tharindu Dananjaya Weerasinghe, the book delivers practical guidance on self-growth, emotional intelligence, and leadership across 100 concise, one-page chapters. • Core Themes: • Mindset & Discipline: Highlights that while motivation initiates action, long-term success relies on discipline, focus, and small daily habits over temporary enthusiasm. • Energy Management: Emphasizes managing mental energy and personal priorities alongside traditional time management to optimize individual productivity. • Accountability: Reframes professional growth, noting that avoiding responsibility hinders progress—summarized by the quote: _"Excuses make today easier, but tomorrow harder."_ • Context: Serves as a resource for readers seeking growth in personal, academic, and corporate leadership settings to enhance productivity and workplace performance.

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🏛️ Pathfinder Foundation & Indian High Commission Host Symposium to Strengthen Pali Studies

• Event Overview: Pathfinder Foundation, the High Commission of India, and ICCR held a joint symposium in Colombo on 24 July 2026 to formulate strategies for preserving and promoting Pali language studies in Sri Lanka. • Key Stakeholders: Attended by senior members of the Maha Sangha across all three Nikayas, Indian High Commissioner Santosh Jha, academics, and policymakers. • Key Challenges & Education Integration: Keynote speaker Ven. Prof. Medagampitiye Vijithadhamma Thera highlighted that the decline in humanities & higher education enrollment stems from limited job prospects. He stressed the need for tighter collaboration between schools, Pirivena education, and universities. • Tech & Modernization Proposals: - Implementation of a national Pali examination system (similar to Thailand/Cambodia). - Utilization of AI & digital technology, including Optical Character Recognition (OCR), to digitize ancient palm-leaf manuscripts. • Bilateral & Cultural Ties: High Commissioner Santosh Jha reaffirmed India's commitment following its 2024 conferment of Classical Language status on Pali, supporting local efforts such as reprinting classical grammar texts (Namamala and Balawatharo).

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⚖️ Former SJB MP Sentenced to 18 Months Imprisonment

• Legal Action & Verdict: Badulla High Court sentenced former Badulla District Samagi Jana Balawegaya (SJB) MP Chaminda Wijesiri to 1.5 years’ imprisonment. • Core Charges: Convicted of wrongful restraint, assault causing bodily harm, and criminal intimidation of police officers. • Incident Details: Case stems from a 2019 altercation following an argument near the Bandarawela roundabout when a police jeep overtook his vehicle.

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🚨 Canadian National Arrested at BIA with Rs. 201.89 Mn Worth of Hashish

A 27-year-old Canadian national has been taken into custody at Bandaranaike International Airport (BIA) in Katunayake following a major narcotics interception. • Seizure & Valuation Details: Authorities confiscated 20 kg and 117 g of hashish concealed in the suspect's luggage, estimated to have a street value of Rs. 201.89 million based on preliminary investigations. • Transit & Origin Route: According to investigators, the suspect purchased the narcotics in Toronto, Canada, flew to Doha, Qatar, and arrived in Sri Lanka on Qatar Airways flight QR-662 at approximately 2:30 a.m. yesterday. • Current Status: Contraband was detected during routine baggage screening upon arrival. Investigations are ongoing based on provisional law enforcement data.

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🚨 Devinuwara Perahera: Police Recommend Removing Kavadi Segment Over Security Concerns

• Security Advisory: Police have recommended removing the Kavadi dance segment from the Devinuwara Sri Uthpalawanna Vishnu Devalaya Perahera scheduled for tomorrow (28 July) due to potential security risks. • Intelligence Reports: The recommendation, issued by IGP Priyantha Weerasooriya, follows intelligence assessments from the Chief of National Intelligence, State Intelligence Service, and Police Special Branch indicating a possible confrontation among organizing groups and performers. • Unverified Claims: The decision follows social media speculation regarding disputes involving underworld figures linked to the procession, though these claims remain unverified independently. • Current Status: Matara District Secretary Chandana Thilakaratne has conveyed the written recommendation to the Basnayake Nilame. The annual festival continues under heightened security.

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🎭 Soul Sounds Hosts "The Pop Era" Concert at Lionel Wendt

• Event Overview: Renowned Sri Lankan vocal ensemble Soul Sounds, led by Music Director Soundarie David Rodrigo, staged "The Pop Era" on 12 July at the Lionel Wendt Theatre. • Performance Highlights: The production featured a journey through decades of global pop anthems, including medleys from ABBA, Michael Jackson, Britney Spears, as well as high-octane rock and classic love songs. • Key Contributors: Directed by Soundarie David Rodrigo with 2026 ensemble leaders Anagi Perera and Nadine Ollegasegrem; backed by a live band and stage production team including Kevin Cruze and Kishan Perera (Unique Sounds).

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Aussie Comedian Sashi Perera Shows in Colombo Today and Tomorrow 🎭

• Event Overview: Australian-born Sri Lankan comedian Sashi Perera brings her stand-up show _"Pear Tree"_ to Colombo on 24 and 25 July. The tour marks a homecoming following sold-out international shows across Australia, Europe, the UK, and New Zealand. • Key Highlights: - July 24: Matinee show at 4.00 p.m. and Main show at 7.00 p.m. at Elphinstone Theatre, featuring opening acts by Lushani Wijayasekara and Dylan J. Prins. - July 25: _"Pear Tree Salon"_ at 7.30 p.m. at COCO Bar, an "In Conversation" session featuring signed copies of her memoir Standstill, followed by an after-party at 9.30 p.m. • Profile & Context: Formerly a refugee lawyer, Sashi has gained over 60 million online views and a nomination for Best Newcomer at the 2023 Melbourne International Comedy Festival. Organized by strategic PR consultancy Scarlet Cat, the event reflects growing engagement with diaspora talent in Sri Lanka's entertainment & creative industries.

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📈 Unable to Generate Summary: Article Content Unavailable

• Overview: The attempt to fetch the requested Sri Lankan economic article from Daily FT timed out (`Read timed out`), preventing content extraction. • Status: Summary unavailable due to incomplete or unreachable input data.

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Headline: No Content Provided for Summary

• Overview: The input provided contains only a title ("Cartoon 24.07.2026") and no news content or data to summarize. • Note: Please provide text or data related to Sri Lankan business, market, or economic news to generate a full summary.

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Real Estate

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

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

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

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

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🏛️ Sri Lanka to Lease Five Presidential Residences for Tourism Development

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

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📈 John Keells Properties Unveils VIMAN Ja-Ela Show Apartment

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

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

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

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

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

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

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

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

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

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

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

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

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

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📈 LKR Depreciation Enhances Sri Lankan Real Estate Affordability for Diaspora

A notable depreciation of the Sri Lankan Rupee (LKR) against the US Dollar in June/July 2026 has dropped primary market property prices in USD terms, making real estate highly attractive to foreign and diaspora buyers. Key market insights from the Research Intelligence Unit (RIUNIT): • Market Pricing & Demand: While USD-denominated prices dropped, LKR-denominated property prices continue to rise steadily. Strong domestic demand remains the core driver of the local market. • Apartment Absorption Rates: Colombo’s apartment absorption is exceptionally strong, averaging near 100% for Tier 3 units and above 90% for Tier 2 units, with growing absorption recorded across all 13 Colombo Wards and over 20 Western Province suburbs. • Macroeconomic Boost: Following 5% economic growth in 2025, the World Bank upgraded Sri Lanka to an _upper-middle-income economy_ (per capita income: US$ 4,670). • Port City Colombo: Momentum remains high with over US$ 600 Mn invested so far in 2026. Leading developers have leased multiple plots and launched 3 major new projects.

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📈 Premium Condominium Sales Above Rs. 50 Mn Lead Colombo Market in Q1 2026

The Colombo District condominium market in Q1 2026 showed a clear shift toward luxury segments despite a broader slowdown in transaction volumes, based on provisional data. • Overall Market Activity & Prices • The Price Index for New Condominiums in Colombo reached 284.4, an 18.5% YoY increase. • The Sales Volume Index decreased by 15.2% YoY, indicating cooling market activity. • Land asking prices in Colombo surged by 31.9% YoY, while housing and condo asking prices rose 6.4% and 11.0% respectively. • Sector & Price Breakdowns • Luxury Units (Above Rs. 75 Mn): Market share grew sharply to 29%, up from 11% a year ago. • Premium Units (Rs. 50 Mn - Rs. 75 Mn): Share edged up slightly to 23% from 22%. • Mid-Range Units (Rs. 25 Mn - Rs. 50 Mn): Share dropped significantly to 29% from 49% a year prior. • Affordable Units (Below Rs. 25 Mn): Stood relatively stable at 19% vs 18% YoY. • Regional Metrics • Colombo remains the primary hub, commanding 65% of total sales transactions. • Single condo projects in Colombo accounted for 59% of transactions, followed by Gampaha and Kalutara districts at 32%. • Inventory & Buyer Demographics • Inventory: Completed projects are nearly exhausted, with 98% of units sold. Ongoing projects have 51% of units pre-reserved. • Funding: Resident Sri Lankans remain the primary buyers, largely purchasing for immediate occupancy. Notably, 80% of transactions were financed using own funds over bank loans. • Development: Pre-sale deposits continue to be the main funding source for developers, contributing 48% of development capital.

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

🤖 Applications Open for National AI Awards 2026

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

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

📈 Govt to Boost Development Spending in 2027 Budget

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

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

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

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

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Financial & Investment News

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

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

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

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

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📈 SEC & CSE to Host Regional Investor Forums in Monaragala & Batticaloa

The Colombo Stock Exchange (CSE) and Securities and Exchange Commission of Sri Lanka (SEC) are hosting free investor forums to boost financial literacy and broaden domestic investor participation. • Monaragala Forum: 16 July, 11:00 a.m. – 1:00 p.m. at Silanrich Hotel (conducted in Sinhala). • Batticaloa Forum: 18 July, 3:00 p.m. – 5:00 p.m. at FG Golden River Hotel (conducted in Tamil). • On-Site Account Opening: Representatives from stockbroker and unit trust firms will facilitate immediate account opening. The first 200 participants opening an account at each venue will receive a promotional investment coupon from the SEC and CSE. • Strong Market Momentum: The outreach follows robust growth in Sri Lanka's capital market, with the All-Share Price Index (ASPI) climbing from 4,846 points in May 2020 to 22,310.80 points in May 2026—a 360% overall increase and a CAGR of ~28.98%, while capital gains remain tax-free.

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📈 TWC Capital Secures US$ 28 Mn IFC Funding for Sri Lanka’s Energy & Agribusiness

TWC Capital Ltd. has successfully advised on up to US$ 28 million in long-term development financing from the International Finance Corporation (IFC) across two critical Sri Lankan sectors. This brings TWC's total offshore finance and FDI mobilization for the country to approximately US$ 125 million over the past 12 months. • Overall Funding Breakdown: • Total IFC Investment: Up to US$ 28 Mn. • Renewable Energy Sector: Up to US$ 18 Mn. • Agribusiness Sector: US$ 10 Mn. • Sector Impact & Project Outcomes: • Renewable Energy: The US$ 18 Mn local currency facility granted to WindForce PLC supports Sri Lanka’s first utility-scale 100 MW solar power project. It is projected to generate roughly 220 GWh of clean electricity annually, boosting national energy security and lowering long-term power costs. • Agribusiness: The US$ 10 Mn investment (including GAFSP support) awarded to New Anthoney’s Farms Group will expand the country’s only fully antibiotic-free poultry operation. The funding aims to boost export capacity, secure national food supplies, benefit 200 contract farming households, and create over 900 new jobs to support rural livelihoods.

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Startups & Entrepreneurship

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

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

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👗 Ye Couture: Sri Lankan Luxury Fashion Brand Expands Globally

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

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🚀 Sri Lankan-Founded AI Startup 'Logical' Secures Y Combinator Entry & Rs. 150M+ Funding

• Milestone Achievement: Logical has become what is believed to be the first startup with a fully Sri Lankan founding team to be accepted into Y Combinator (YC), the premier Silicon Valley accelerator behind global giants like Stripe and Dropbox. • Funding Raised: The startup has secured over Rs. 150 Mn in initial funding, providing a strong launchpad to build a globally competitive product from Silicon Valley. • Product & Innovation: Positioned within the AI and ICT/BPM sectors, Logical is developing a proactive desktop AI copilot for knowledge workers. Unlike traditional chatbots, the tool seamlessly understands work context across daily applications, allowing users to automate actions, draft emails, and log meeting takeaways with minimal prompting. • Local Talent, Global Impact: Co-founded by Kandy-born engineers Samurdhi Karunaratne (UCLA PhD, ex-NVIDIA) and Anushka Idamekorala (University of Virginia PhD), both alumni of leading Sri Lankan state engineering universities (University of Peradeniya and University of Moratuwa). The founders aim to showcase that world-class software and technology can be built by Sri Lankan engineers competing at the highest global levels.

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📈 Empowerment Over Relief: Rotary Initiative Targets Sri Lankan MSME Growth

As Sri Lanka shifts from crisis management to economic recovery, civic organizations are pivoting from traditional aid to sustainable economic empowerment. • The Economic Backbone: Micro, small and medium enterprises (MSMEs) are vital to Sri Lanka's economy, accounting for nearly 45% of national employment and contributing well over 50% of the Gross Domestic Product (GDP). • The "Made in Sri Lanka" Initiative: During the 2025-2026 Rotary year, Rotary District 3220 trained nearly 4,000 entrepreneurs nationwide. The program focused on building capacity in digital marketing, brand development, and export readiness to boost long-term competitiveness. • Strategic Partnerships & Market Access: - National Enterprise Development Authority (NEDA): Organised SME Conclaves to connect certified local businesses (SLSI and GMP compliant) with supply chains in international markets like the UK and Australia. - Information and Communication Technology Agency (ICTA): Enhanced the digital capability of local businesses through training in digital branding, data analytics, and e-commerce platforms. This model represents a shift toward building long-term capability, self-reliance, and market creation over temporary aid.

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📈 Ceylon Chamber Launches 'Scale Up 2.0' to Boost Sri Lanka’s SME Ecosystem

The Ceylon Chamber of Commerce has officially launched Scale Up 2.0, its flagship National SME Forum for 2026. Scheduled for 11th August 2026 at the Taj Samudra, Colombo, the event is themed “Connected, Competitive, Ready to Grow.” • Strategic Focus: The forum is designed to help Small and Medium Enterprises (SMEs) overcome critical barriers, including accessing markets, securing finance, meeting evolving business requirements, and integrating into local and global value chains. • Key Sessions: The program will feature an opening plenary on national priorities for SME development, followed by three technical sessions covering: - Market access and value chain integration - Standards and certification - Strategies for scaling mid-sized enterprises through improved investment readiness and access to finance • B2B Networking: A dedicated B2B segment will allow SMEs to engage directly with buyers, financial institutions, policymakers, and business support organizations. This interactive platform aims to facilitate new business relationships, procurement opportunities, and partnerships to support long-term business expansion and competitiveness.

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📈 Sri Lanka SME Ecosystem Needs Shift from Debt to Equity Capital

• Current Reality: Despite 70 years of multilateral support and a robust central regulatory mechanism, Sri Lanka's SME sector—traditionally hailed as the engine of economic growth and the largest employer—remains struggling and marginalized. Access to credit is severely hampered by high regional interest rates ranging from 14% to 24%. • Key Ecosystem Deficiencies: Local SMEs fall short in long-term journey mapping across three critical pillars: commercial viability, enterprise scalability, and succession sustainability. Growth is further restricted by a "tunnel vision" approach to product refinement, market development, and heavy reliance on bank loans instead of patient capital. • The Equity Capital Vacuum: Because 98% of banking funds come from depositors, commercial banks face risk constraints that prevent equity financing. Over the past 50 years, fewer than five SMEs have successfully transitioned to an initial public listing (IPO). • Impact Investing & Strategic Interventions: Real growth requires a 5-to-10-year horizon of patient equity capital. Initiatives like Lanka Impact Investing Network (LIIN) are actively working to bridge this gap, previously launching the "Ath Pavura" reality show (securing equity for ~50 entrepreneurs) and introducing "On Eagle’s Wing" to connect MSMEs with global impact investor networks.

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AI Pioneer Suggests Sri Lanka Leapfrog via Precision Brain Healthcare 🧠

Sri Lankan-born computational neuroscientist Emil Hewage, co-founder of UK-based BIOS, highlighted critical growth opportunities for Sri Lanka to build advanced AI-driven healthcare infrastructure from the ground up rather than chasing mature markets. • Precision Healthcare Opportunities: Sri Lanka faces a rapidly aging population, creating unique demand for specialized precision brain care and neural interface technologies. Leveraging a strong medical workforce and a concentrated population, the country has a distinct advantage to cultivate a world-class brain health ecosystem with focused, high-value investment. • Global Application & Performance: The ICT/BPM-adjacent medical algorithms deployed by BIOS operate at 2,000 times the accuracy of a human, reducing precision surgical timelines from up to a year down to single, highly accurate procedures. AI applications originally derived from Formula One racing are currently being cross-utilized in smart-city infrastructure across the UK, South Korea, and California to manage traffic and save millions in road maintenance. • Data Sovereignty & Local Trust: Due to the extreme sensitivity of neurological data, Hewage advocates for local tech integration managed by regional health authorities and trusted domestic institutions rather than reliance on global big-tech scalers. _Note: Insights are based on executive commentary regarding future technology positioning and national leapfrogging strategies._

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📈 Over 250 Gather for Kalutara Business & Investment Summit

Lanka Business TV’s eighth island-wide "Vyavasayaka" Business and Investment Summit concluded with significant public response at the Jie Jie Beach Hotel in Panadura. The initiative focuses on bridging the economic knowledge gap for local entrepreneurs. • Key Highlights: • Participation: Over 250 attendees, including existing entrepreneurs and individuals seeking economic literacy. • Expert Insights: Keynote address delivered by Dr. Chaminda Weerasiriwardena, with guest lectures and corporate presentations focusing on wealth management (NDB Wealth), cybersecurity (Sri Lanka CERT), and real estate/asset management (John Keells Properties). • National Expansion: The Kalutara event marks the 8th district-level summit held across Sri Lanka. • Future Outlook: Lanka Business TV announced ongoing arrangements to expand the initiative further into the Kandy and Kurunegala districts later in 2026 to support regional economic integration.

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Industry & Sector News --- To see highlights from the opening of this journalism summit, you can watch the coverage of the ['SLIM Media Fest 2026' grand start](https://www.youtube.com/watch?v=mt_4HWlX9OE).

📈 SLIMFA MediaFest 2026: Call for Trust-First Journalism as AI Reshapes News

Top media leaders and government officials from Sri Lanka and India gathered at MediaFest 2026 in Colombo to address technological disruption, AI integration, and the critical need to preserve public trust amid rising misinformation. • Core Themes & Collaboration: Themed "Staying Relevant in a Changing World," the event urged newsrooms to adapt to digital shifts without sacrificing editorial discipline. Indian High Commissioner Santosh Jha called for stronger bilateral media collaboration, promising continued support for journalist exchanges, newsroom visits, and institutional partnerships to counter false narratives. • Key Leadership Insights: Mass Media Minister Dr. Nalinda Jayatissa stated that AI should be leveraged to strengthen investigation and verification rather than replace editorial judgment, emphasizing that governments must safeguard independent journalism. ANI Chief Editor Smita Prakash warned that AI makes deception faster and cheaper, asserting that verification is now as vital as reporting and urging professionals to "trust, but verify." India Today Managing Editor Marya Shakil advised newsrooms to adopt the speed of digital creators while strictly retaining newsroom discipline. • Institutional Impact: Organized by the Sri Lanka–India Media Friendship Association (SLIMFA), President Nisthar Cassim highlighted the body's rapid evolution since 2024 into a premier platform fostering professional dialogue, masterclasses, and knowledge-sharing between the two nations' media ecosystems.

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