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Commercial Bank Accelerates Digital Payments Drive in Jaffna 📈

• Campaign Scope: Conducted its largest single-region merchant outreach as part of CBSL's 3rd Digital Payments Promotional Programme for 2026, targeted ahead of the high-spending Nallur Festival. • Merchant Engagement: Canvassed over 350 local merchants—more than seven times the scale of its previous Trincomalee activation—and activated cashback campaigns across 40+ Jaffna businesses. • Financial Inclusion & MSMEs: Provides free onboarding and QR registration to transition informal cash-based merchants into the formal digital economy, strengthening financial inclusion in the Northern Province. • Ecosystem Integration: Focuses on expanding LANKAQR adoption via Commercial Bank's Q+ Payment App, driving digital infrastructure in regional markets traditionally showing lower digital payment penetration.

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Commercial Bank Accelerates Digital Payments Drive in Jaffna 📈

• Campaign Scope: Conducted its largest single-region merchant outreach as part of CBSL's 3rd Digital Payments Promotional Programme for 2026, targeted ahead of the high-spending Nallur Festival. • Merchant Engagement: Canvassed over 350 local merchants—more than seven times the scale of its previous Trincomalee activation—and activated cashback campaigns across 40+ Jaffna businesses. • Financial Inclusion & MSMEs: Provides free onboarding and QR registration to transition informal cash-based merchants into the formal digital economy, strengthening financial inclusion in the Northern Province. • Ecosystem Integration: Focuses on expanding LANKAQR adoption via Commercial Bank's Q+ Payment App, driving digital infrastructure in regional markets traditionally showing lower digital payment penetration.

Banking & Financial Services
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🛍️ NOLIMIT Expands Retail Footprint with 31st Store at One Galle Face Mall

• Strategic Expansion: Sri Lanka’s largest fashion retail chain opened its 31st outlet on 4 September 2026 at One Galle Face Mall, expanding its local footprint alongside 4 existing international stores in the UAE. • Store Scale & Features: The new 12,000+ sq. ft. location features a modern, tech-enabled interior, including self-checkout facilities designed to streamline customer convenience. • Product Portfolio: Covers multiple retail & lifestyle categories under one roof, including menswear, womenswear, kids-wear, footwear, accessories, homeware, toys, travel gear, and cosmetics. • Economic Context: Targets high-footfall urban demographics—including local families, young professionals, and international tourists—strengthening the country's modern retail trade sector.

Retail & E-commerce
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✈️ EDB & Sri Lankan Airlines Partner to Launch “Sri Lanka Expo 2027” Global Campaign

The Export Development Board (EDB) has unveiled a specially branded Airbus A321 Neo aircraft with Sri Lankan Airlines to promote the country's flagship export trade fair. • Event Scope & Objectives: • Date & Location: Jan 14–17, 2027, at BMICH, Colombo. • Organized by the EDB under the Ministry of Industry and Entrepreneurship Development to establish Sri Lanka as a regional trade and investment hub. • Features 750+ exhibitors and expects 1,500+ international buyers and investors. • Highlights parallel Investment Forums, B2B matchmaking, fashion shows, culinary events, and cultural shows. • Sectors Featured: • Promotes major sectors including agriculture, industrial manufacturing, export services, ICT/BPM, and tourism. • Airline Partnership Details: • The liveried aircraft will target key regional markets: India, Indonesia, Saudi Arabia, Qatar, Maldives, Malaysia, Kuwait, and Thailand. • Sri Lankan Airlines is providing airfare discounts for visiting buyers/investors: 20% off Economy Class and 10% off Business Class. [Sri Lanka Expo 2027 Overview](https://m.youtube.com/watch?v=S7G-_lD8ki8) This video provides an official overview of Sri Lanka Expo 2027, detailing the event's scale, target markets, and featured export sectors.

Economy-wide / Cross-sector
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☕ Sri Lanka Debuts First Dedicated Coffee Dry Mill

• Strategic Partnership: Joint landmark initiative between Damn Fine Coffee and Australia’s Market Development Facility (MDF). • Key Operational Upgrades: Introduces advanced onshore green bean sorting, grading, and quality control to ensure uniform size, moisture, and density standards before export. • Value Chain Impact: Fills a critical processing gap to boost consistency, traceability, and export-readiness, allowing Sri Lankan coffee to access global premium and specialty markets. • Stakeholder Outlook: Australian High Commissioner Matthew Duckworth and DFC CEO Yasas Kodituwakku highlighted improved producer livelihoods and local processing capacity. Deputy Minister Chathuranga Abeysinghe noted it encourages Regional Plantation Companies (RPCs) and local farmers to enhance value addition.

Agriculture, Plantations & Fisheries
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Hayleys Agriculture Expands Agribusiness Strategy with New Processing Machinery Launch 📈

• Agribusiness Expansion: Hayleys Agriculture Holdings Ltd. launched its new Hayleys Grain and Food Processing Machinery arm at the ProFood, ProPack, and AgBiz 2026 expo in Colombo. The strategic move shifts the group from basic input supply toward integrated, value-added technology solutions for Sri Lanka's food and beverage sector. • Machinery & Tech Solutions: The portfolio introduces specialised processing equipment, including: • Grain drying and storage systems • High-quality rice milling machinery • Food metal detection and hygiene control systems • Agricultural drones and precision farming technology • Consumer & FMCG Portfolio: Subsidiary Sunfrost Ltd. unveiled a revamped visual identity for its Govi Aruna consumer range alongside its new Island Magic Peanut Spread, focusing on everyday domestic food applications. • Strategic Outlook: The expansion targets enhanced post-harvest efficiency, modern agricultural mechanization, and improved food safety across national supply chains.

Agriculture, Plantations & Fisheries
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🏡 Union Bank and SLBFE Partner to Launch ’Ethera Diriya’ Housing Loans for Migrant Workers

Union Bank has signed a Memorandum of Understanding (MoU) with the Sri Lanka Bureau of Foreign Employment (SLBFE) to promote the ’Ethera Diriya’ housing loan scheme, aimed at supporting overseas Sri Lankan workers and their families. Key details of the facility: • Loan Amount: Up to Rs. 10 million • Repayment Period: Up to 10 years • Objective: Helps migrant workers channel foreign earnings into long-term homeownership, strengthening financial security and social integration for families of Sri Lanka's migrant workforce. • Key Signatories: SLBFE Chairman Koshala Wickremasinghe and Union Bank Chief Business Officer Asanka Ranhotty.

Banking & Financial Services
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Cargills Bank Launches 'Junior Kotipathi' Account 📈

Cargills Bank has introduced the 'Junior Kotipathi' Investment Savings Account, a structured long-term financial product aimed at helping parents build savings for children. • Key Features: • Target Audience: Minors and teenagers from newborns up to 17 years old. • Interest Rate: Competitive rate of 9.5% p.a. with a guaranteed maturity value. • Monthly Installments: Starts from Rs. 1,749 per month for a Rs. 1 Mn target plan. • Maturity Targets: Investment plans range from Rs. 1 Mn to Rs. 10 Mn. • Value Additions: Customisable tenures and milestone rewards throughout the investment period to engage accountholders. • Economic Impact: Encourages long-term structured savings within the banking & financial services sector, supporting early-stage household capital formation and financial planning for future higher education and career milestones.

Banking & Financial Services
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CSE and ADX Sign MoU to Boost Capital Market Links 📈

• Key Agreement: The Colombo Stock Exchange (CSE) and Abu Dhabi Securities Exchange (ADX) signed a Memorandum of Understanding (MoU) to enhance bilateral capital market cooperation between Sri Lanka and the UAE. • Areas of Collaboration: Focuses on sharing expertise across electronic trading, technical infrastructure, market surveillance, clearing, and post-trading systems, along with joint educational programs and product development (ETFs and derivatives). • Market Access & Integration: CSE is exploring joining Abu Dhabi's Tabadul Hub digital network to expand cross-market access for global and regional investors. • Background: Initiated by Sri Lankan Ambassador Prof. Arusha Cooray during the 'Invest Sri Lanka' Investor Forum in the UAE.

Capital Markets & Investment
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Godrej Consumer Products Consolidates Global Media Operations Under WPP Media 📈

• Global Consolidation: Godrej Consumer Products Ltd. (GCPL) appointed WPP Media as its global media agency partner for key international markets following a 3-month competitive pitch initiated in March 2026. • Markets Covered: The unified global strategy covers operations in Sri Lanka, Bangladesh, Nigeria, South Africa, Indonesia, Argentina, and Chile. EssenceMediacom (a WPP Media unit) has managed GCPL's India mandate since 2025. • Sri Lanka Impact: Local operations under Godrej Household Products Lanka Ltd. transition from independent local agencies to WPP Media. The move aims to leverage global capabilities, data, and technology while maintaining local market understanding to drive brand growth in fast-moving consumer goods (FMCG).

Food, Beverage & Consumer Goods
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🧬 Hemas Surgicals & Credence Genomics Partner to Launch AI-Powered Diagnostics in SL & Maldives

• Strategic Healthcare Expansion: Hemas Surgicals & Diagnostics has signed a agreement to serve as the authorised distributor for Singapore-based Credence Genomics Holdings, introducing advanced AI-driven genomic diagnostic solutions to Sri Lanka and the Maldives. • Advanced Technology Stack: The molecular diagnostic platform combines artificial intelligence with genomic sequencing to identify infectious diseases faster and assess antimicrobial resistance. It operates on two proprietary systems—AIoS® (Artificial Intelligence on Sequencing) and MMR™ (Machine Modelled Resistance). • Product Portfolio & Capabilities: • Bactfast®: Detects 22,000+ bacteria. • Fungifast®: Covers 6,000+ fungi. • Virfast®: Analyzes 9,000+ DNA and RNA viruses. • dABST®: Predictive antimicrobial susceptibility testing to forecast antibiotic resistance. • Market Availability: The solutions will be distributed across local hospitals, laboratories, and healthcare institutions following mandatory regulatory approvals.

Healthcare & Pharmaceuticals
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🏢 Prime Residencies Unveils LKR 5.8Bn Ultra-Luxury Project in Colombo 08

• Project Overview: Prime Lands Residencies PLC has launched "The Seasons," an ultra-luxury boutique residential project located at Chandralekha Mawatha, Colombo 08, under "The One Collection" portfolio. • Development & Pricing Details: • Capacity: 44 exclusive boutique residences (3-bedroom units averaging 2,000 sq ft). • Starting Price: LKR 132 Million upwards. • Completion Timeline: Scheduled for handover in mid-2027. • Market Impact: Strengthens Sri Lanka's real estate and construction sector through high-end urban housing developments, introducing first-in-market features like in-residence dedicated storage alongside smart automation systems.

Construction & Real Estate
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🤝 SEBSA and Addovation Partner to Create Global IFS Consulting Powerhouse

• Executive Summary: Sri Lanka-based ICT/BPM service provider SEBSA has entered a strategic partnership with Nordic ERP partner Addovation to support enterprise IFS customers globally, forming one of the largest specialized consortiums in the industry. • Scale & Expertise: Combines SEBSA's global delivery model and 100+ specialists with Addovation's 200+ experts across 10 offices in Sri Lanka, Norway, Sweden, and Finland. Enhances delivery capacity for enterprise-grade IFS consulting, upgrades, AI solutions, integrations, and 24x7 support. • Strategic Focus: Strengthens European market footprint while leveraging Sri Lankan technical talent to support global digital transformation and enterprise system modernization. Focuses on helping enterprise customers continuously adopt AI and cloud technologies to unlock business value.

Technology & Digital Services
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Industry & Sector News

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🚀 Sri Lanka University System to Drive AI Policy and Digital Transformation

Sri Lanka has launched a national initiative to integrate Artificial Intelligence and digital transformation across all state universities, aligning higher education with the country's broader digital economy goals. • National Policy & Strategy: Implementation of the UGC-approved National AI Policy Framework (adopted June 24, 2026) under a 3-year plan spanning 2026–2029. • Deadline for Universities: All state universities are targeted to formulate institutional AI policies and Standard Operating Procedures (SOPs) by December 31, 2026. • Core Focus Areas: Shift universities from consumers to developers of local technology, strengthen compliance with the Personal Data Protection Act, enhance cybersecurity, and track progress using the AI Maturity Index (AIMI). • Infrastructure Support: Plan to provide shared digital infrastructure and LMS systems to support under-resourced state universities. • Key Sectors: Drives national integration for the ICT/BPM sector and higher education, directly strengthening local capacity for digital economic growth.

Technology & Digital Services
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📉 Sri Lanka Apparel Facing Crisis Fatigue, Squeeze on Demand & Emerging African Rivals

Sri Lanka’s apparel & textiles sector is struggling to keep pace with regional competitors on technology and automation due to consecutive economic shocks, according to the Joint Apparel Association Forum (JAAF). • Automation & Tech Lag: A decade of continuous crises—from the civil war to COVID-19 and the 2022 economic collapse—has severely constrained capital and management bandwidth for upgrading production lines. JAAF is seeking government incentive schemes to encourage automation investments, boost productivity, and support renewable energy adoption. • Consumer Demand & Product Mix: The sector remains well-aligned with global shifts toward athleisure, infant wear, and children’s wear, while scaling back on declining formal wear. However, western cost-of-living pressures, driven by high inflation (US inflation ~4.5%) and elevated oil prices (~$120/barrel), are causing consumers to trade down to cheaper, unbranded options. • Regional & African Competition: AGOA-backed manufacturing in Egypt is emerging as a major low-cost rival. Rather than treating this solely as a threat, several Sri Lankan firms are expanding into Africa to offer brands multi-origin sourcing flexibility. • Global Diversification: To maintain long-term competitiveness, local manufacturers are balancing foreign expansion—including operations in India—with strengthening domestic production capacity.

Apparel & Textiles
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402 Bangladesh Garment Factories Close Amid Global Shocks 📉

• Industry Scale & Impact: At least 402 ready-made garment (RMG) factories shut down between July 2023 and June 2026. Closures affect 282 BGMEA and 120 BKMEA member units. Highlighted as critical regional dynamics for Sri Lanka's competing apparel & textiles export market. • Core Drivers: Closures stem from domestic political instability, banking liquidity crises, global recession, geopolitical conflicts, and competing FTAs by India and Vietnam. Buyer preferences for larger suppliers also squeezed small-and-medium enterprises (SMEs). • Government Relief Schemes: • 1.5% cash assistance for textile exporters (replacing Customs Bonds/duty drawbacks). • 0.5% additional aid for Eurozone sales. • 3% extra support for SME knitwear, woven, and sweater units, plus 0.3% general RMG cash support. • Market Diversification & Trade Defenses: • Facing potential US$ 17.5 Bn export risks from LDC graduation, Bangladesh finalized an EPA with Japan. • Negotiating CEPA with South Korea, alongside ongoing trade talks with EU, RCEP, UAE, Singapore, Indonesia, and China. • 2% cash incentive rolled out for non-US/EU/Canada market expansion and product diversification. • Global Sourcing Expo scheduled for FY2025-26 via diplomatic mission activations.

Apparel & Textiles
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🛡️ APAC Cyber Threats Surge in 1H 2026 as Ransomware and Supply Chain Attacks Rise

Kaspersky GReAT reports high cyber threat activity across the Asia-Pacific region during 1H 2026, driven by increased AI adoption by threat actors, targeting digital infrastructure and critical supply chains. • Key Threat Metrics (1H 2026): • 75 million online attacks blocked across APAC • 3.4 million backdoor attacks prevented • 2.4 million password stealer incidents stopped • 250,000 ransomware attacks blocked • Regional & Global Context: • 5 of the top 12 global APT-targeted countries are in APAC (China, India, Myanmar, Pakistan, Vietnam) • Top global incident types in 2025: APTs (24%), social engineering (15%), and malware (12%) • Supply Chain & Open-Source Risks: • Nearly 1 in 3 organizations experienced a supply chain attack over the past year • Malicious open-source packages surged 37% YoY (19,484 in 2025 vs. 14,197 in 2024) • Hacktool detections rose 11% YoY (3,302 in 2025 vs. 2,966 in 2024) • High-profile compromises involved Axios (npm), Notepad++, eScan, and Daemon Tools • Strategic Takeaway: Threat actors are increasingly using AI to scale attacks. Regional organizations require enhanced threat intelligence, robust supply chain security, and continuous defense measures to safeguard digital transformation and economic resilience.

Technology & Digital Services
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Control Union Hosts "Food Safety Forward" Session to Boost Global Trade Readiness 📈

• Event Overview: Control Union Academy Sri Lanka, with Foundation FSSC, hosted Food Safety Forward at BMICH, Colombo, addressing Version 7 updates to prepare local businesses for evolving international standards. • Key Stakeholders: Featured addresses and panel insights from the Export Development Board (EDB), FSSC India & Sri Lanka, University of Sri Jayewardenepura, and agribusiness leaders. • Strategic Focus: Discussions centered on strengthening Sri Lanka’s export competitiveness, managing emerging scientific risks, and building robust food safety management cultures. • Industry Footprint: Part of the global Control Union network (operating in 80+ countries with 5 local offices), which launched Sri Lanka’s first PCR-based food testing lab in February 2026 to enhance domestic testing infrastructure.

Professional & Business Services
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🔔 CDS Marks 35 Years Supporting Sri Lanka’s Capital Market 📈

• Key Milestones & Reach: • Established in 1991 as South Asia’s 1st Central Securities Depository and 7th globally. • Serves as the backbone of the Colombo Stock Exchange (CSE), safeguarding over 1 million accounts. • Transitioned Sri Lanka to a scripless trading system, ensuring integrity, transparency, and governance in post-trade operations. • New Digital Product Launches: • CDS WhatsApp Chatbot: Provides fast investor support and easy access to market information. • CDS e-Connect Web Portal: Enhanced digital platform offering seamless account management for investors. • Virtual AGM e-Voting Solution: Supports corporate governance via digital shareholder participation and remote voting. • Future Strategic Vision: • Aims to expand into a National Depository while driving FinTech innovation. • Plans to offer escrow solutions and secure digital credentials through EduVault.

Capital Markets & Investment
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🚢 Hambantota Port Welcomes New-Gen NYK Carrier

• Key Highlights: Sri Lanka’s Hambantota International Port (HIP) received the maiden call of NYK's Azalea Leader in August. Built in 2026, the 200-metre Liberian-flagged vessel is a new-generation LNG dual-fuel pure car and truck carrier (PCTC). • Cargo Capacity: Arriving from Singapore, the vessel carried 4,810 vehicles for transhipment and 47 units for local discharge. The carrier has a maximum capacity of 7,000 units. • Logistics & Sustainability: The deployment highlights HIP’s growing importance in regional RoRo and automotive logistics connecting to the Middle East. The vessel utilizes Exhaust Gas Recirculation (EGR) technology on its main engine to reduce Nitrogen Oxide emissions.

Transport, Logistics & Infrastructure
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🌾 Sri Lanka Urges Early Cultivation to Counter El Niño Threat

• Maha Season Targets: Authorities target 830,000 hectares for paddy cultivation in the 2026/27 Maha season, a sector vital for national food security and employment. • Weather & Crop Shift: Above-average rains are forecast for Oct–Nov due to El Niño and a positive IOD, followed by a severe dry spell starting Jan 2027. Farmers are urged to sow by Oct 15–25 to harvest early and avoid flood and drought damage. • Water Management & Subsidies: To preserve water for the 2027 Yala season, farmers are advised to use Alternate Wetting and Drying (AWD) irrigation and avoid long-duration varieties. Water-deficit tracts are encouraged to shift to other field crops (OFCs) like maize and green gram while retaining full fertilizer subsidy eligibility.

Agriculture, Plantations & Fisheries
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🇿🇦 Sri Lanka Tourism Promotional Drive Held in South Africa

The High Commission of Sri Lanka in Pretoria organized a targeted promotional campaign at the Rosebank Sunday Market in Johannesburg to boost awareness and attract potential international travelers. • Key Highlights & Engagement: • Showcased Sri Lanka’s rich cultural heritage, natural landscapes, wildlife, and local cuisine to a diverse multicultural audience. • Distributed comprehensive promotional literature, generating strong interest and travel commitments among visitors. • Engaged key stakeholders, including members of the South African business network, the diplomatic corps, and the local Sri Lankan diaspora, to enhance people-to-people connections. • Sector Impact: • Supports broader national efforts to expand and diversify source markets for tourism, driving foreign exchange inflow and local employment generation.

Tourism, Hospitality & Leisure
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🤖 AI Disruption Pressures Sri Lanka’s IT Export Model 📈

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

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

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

Manufacturing & Industrials
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Diplomatic Corps Experiences Kandy Esala Perahera to Boost Tourism 📈

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

Tourism, Hospitality & Leisure
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Regulatory & Policy News

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Thailand to End Visa-Free Travel for Sri Lankans Starting Sept 15 ✈️

• Policy Shift Overview: Ordinary Sri Lankan passport holders will require a pre-approved visa to enter Thailand starting September 15, 2026, as Sri Lanka is among 21 nations removed from Thailand’s revised visa exemption scheme. • Exemption Rules: The general visa-free list has been reduced from 93 to 60 countries. Sri Lankans entering on or before September 14, 2026, can still utilize the current 60-day visa-free stay. • Application Process: Travelers must apply online through the official e-Visa portal (_thaievisa.go.th_); no in-person visits to the Embassy in Colombo are required. • Available Tourist Visas: - Single-Entry TR Tourist Visa: Valid for 3 months, permits a stay of up to 60 days (extendable by 30 days for 1,900 baht). - Multiple-Entry Tourist Visa (METV): Valid for 6 months, permits up to 60 days per entry. • Mandatory Requirement: All incoming travelers must complete the electronic Thailand Digital Arrival Card (TDAC) prior to arrival regardless of visa status.

Tourism, Hospitality & Leisure
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🇱🇰 Govt Rejects Port City Tax Term Changes Amid Investor Backlash 🏢

• The Dispute: A public disagreement erupted on LinkedIn between Deputy Minister Chathuranga Abeysinghe and tech entrepreneur Shavini Fernando over shifting tax rules for ICT/BPM and tech companies at the Colombo Port City SEZ. • Investor Grievance: Investors allege tax rates shifted from an initial 3-year zero-tax offer to 15% for employees and 7% for corporates, and recently to the mainland corporate/income tax rate of 36%, driving some to consider relocating to regions like Dubai. • Government Stance: Deputy Minister Abeysinghe stated the revised law aligns all individual taxation under the Inland Revenue Act, leaving "no arbitrage between Port City and main land." He acknowledged confusion regarding foreign income taxation for Port City Approved Persons and noted clarification will be provided. • Core Classification Issue: Tax discrepancies stem from income treatment; foreign currency income deposited into Sri Lankan accounts receives a 15% rate, whereas income classified as local attracts the 36% rate. • Competitiveness Risk: Legal and corporate professionals warn that shifting tax policies weaken Port City’s value proposition compared to competing regional financial hubs like the Dubai International Financial Centre (DIFC).

Economy-wide / Cross-sector
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📈 CBSL Eases Related-Party Guarantee Rules, Tightens Reporting

The Central Bank of Sri Lanka (CBSL) has issued Banking Act Determination No. 01 of 2026 (effective Sept 1, 2026), revising insider lending rules to prevent favorable treatment and mitigate conflicts of interest. • Key Policy Relaxations • Corporate Guarantees: Cover limit raised to 100% for guarantors rated 'BBB-' and above (previously capped at 60%–80%). • Machinery Collateral: Pledging machinery allowed as collateral for the first time, capped at 50% of external valuation. • Public Sector Lending: Treasury letters of undertaking now accepted for loans to Ministries, Departments, and SOEs (provided budget provision is disclosed). • Unchanged Collateral Ratios • Government/CBSL Securities & Cash Deposits: 90% • Freehold Property (Primary Mortgage): 80% • Life Insurance Policies: 75% • Gold: 70% • CSE Listed Shares & Corporate Debentures ('AAA' to 'BBB-'): 50% • Reporting & Compliance • FinNet Integration: Reporting shifts from unspecified formats to two required electronic returns (BSD-QF-06-RPC and BSD-QF-06-RPI), starting quarter ending Sept 30, 2026. • Stage 3 Provisions: Borrowers becoming related parties solely due to shared directors must provide approved collateral within 90 days if credit quality drops to Stage 3.

Banking & Financial Services
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📈 FCCISL and Ministry Partner to Drive 25% SME Export Growth Target

• Roadmap & Blueprint: The Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) and Deputy Minister Chathuranga Abeysinghe held policy talks to align private enterprise with the National SME Strategy Framework. A roadmap aims to identify, incubate, and scale 1,000 to 5,000 SMEs across all provinces to achieve a 25% export growth target. • Target Sectors: Joint incubation systems will focus on high-priority areas including Agriculture & Food Security, ICT, Transport & Logistics, Eco-friendly Products, Seafood, and value-added Coconut & Rubber products. • Global Trade Expansion: Through its "SMEs Go Global" initiative, FCCISL will leverage international chamber alliances (EU, GCC, CACCI, SAARC CCI, APTA CCI) to drive direct market entry. Upcoming trade missions include an India visit with FICCI, a trade trip to New Zealand, and a Saudi Arabia Investment Forum in early 2027. • Capital & Sector Support: Talks focused on unlocking specialized financing mechanisms, including mobilizing the Construction Guarantee Fund for the construction sector and establishing dedicated funding instruments for ICT ventures and emerging startups.

Economy-wide / Cross-sector
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⚖️ SriLankan Airlines-Airbus Scandal: Judicial System Tested Over Unresolved Corruption Case

• Overall Case & Figures: • In 2013, aviation state-entity SriLankan Airlines agreed to buy 10 Airbus aircraft (six A330-300, four A350-900) and lease four A350s. • Airbus offered ~$16.84 Mn in bribes to influence the transaction, with ~$2 Mn transferred to Biz Solutions Inc. (linked to the wife of then-CEO Kapila Chandrasena). • $800,000 was routed to Sabre Vision Holdings (linked to investor Nimal Perera), who alleged handing the equivalent (~Rs. 100 Mn) to MP Namal Rajapaksa. • Despite high-profile arrests, zero convictions have been secured to date. • Economic Impact on Aviation & Governance: • The fleet deal, cancellation fees, and political mismanagement generated accumulated losses of nearly US$ 2 Bn for SriLankan Airlines, placing an immense burden on taxpayers. • The corruption case reflects systemic governance failures and weak accountability that contributed significantly to the nation's 2022 economic collapse. • Legal System Concerns: • Delayed judicial proceedings risk witness disappearance—such as the suspicious death of former CEO Kapila Chandrasena—and evidence loss. • Calls are made for dedicated, expeditious trials with transparent terms for cooperating witnesses, ensuring equal justice without media trials or political bias.

Transport, Logistics & Infrastructure
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Sri Lanka Steps Up Enforcement to Combat Cybercrime & Fraud 🚔💻

• Regulatory Actions & Enforcement: • Blocked illegal online gambling websites and fraudulent platforms. • Initiated legal proceedings and deportation procedures for foreign nationals engaged in cybercrime. • Resource & Capacity Building: • Recruiting software engineers and lawyers to enhance technical and legal expertise in investigations. • Providing newly recruited officers with specialized field and overseas training. • Technological & Strategic Upgrades: • Planning a real-time centralized system for faster financial fraud and cybercrime investigations. • Coordinating with foreign institutions to resolve data-sharing barriers for cryptocurrency-related crimes. • Strengthening community policing services and securing sensitive information from Community Security Committees.

Economy-wide / Cross-sector
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📜 Cabinet Approves Community Based Corrections (Amendment) Bill for Parliament

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

Economy-wide / Cross-sector
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🦠 Sri Lanka to Overhaul 1897 Quarantine Law to Address Rising Epidemic Risks

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

Healthcare & Pharmaceuticals
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FCCISL and Royal Thai Embassy Meet to Boost Trade Ties 🤝

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

Economy-wide / Cross-sector
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📈 NCW Proposes Policy Reforms to Boost Female Labor Participation

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

Economy-wide / Cross-sector
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📈 Presidential Secretary Urges Immediate PAYE Tax Relief

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

Economy-wide / Cross-sector
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📈 Sri Lanka Needs 5,000 Annual Solar Technicians to Hit 2030 Energy Targets

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

Energy & Utilities
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Market News

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Sri Lanka Rupee Steady at 328.20/40; Equities Rise 📈

• Currency & Foreign Exchange: The Sri Lankan rupee (currency market) quoted flat at 328.20/40 against the US dollar in the spot market. TT exchange rates recorded at Rs. 323.80 buying / Rs. 332.80 selling for USD, Rs. 373.52 buying / Rs. 387.30 selling for EUR, and Rs. 436.36 buying / Rs. 450.47 selling for GBP. • Bond Market: Yields on government securities remained steady across key maturities: - Feb 2028: 9.95% - 10.10% - Jul 2028: 10.05% - 10.15% - Oct 2029: 10.32% - 10.42% - Dec 2029: 10.35% - 10.45% - Aug 2030: 10.65% - 10.75% - Oct 2030: 10.70% - 10.80% - Dec 2032: 11.10% - 11.20% - Jun 2033: 11.42% - 11.50% - Nov 2033: 11.50% - 11.60% - Oct 2034: 11.70% - 11.80% - Aug 2036: 11.85% - 11.95% • Equity Market: The Colombo Stock Exchange (capital markets) opened higher: - All Share Price Index (ASPI): Up +0.28% (+60.79 pts) to 21,681. - S&P SL20 Index: Up +0.39% (+23.37 pts) to 6,082.

Capital Markets & Investment
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📈 Sri Lanka Bourse Opens Week in Green

• Market Indices & Turnover: • Benchmark ASPI gained +0.17% (+36.73 points) to reach 21,657.17 in early trading. • More liquid S&P SL20 rose +0.54% (+32.73 points) to 6,091.65. • Early market turnover reached Rs 446 million. • Key Market Movers: • Top Gainers: Dialog Axiata (+Rs 0.50 to Rs 49.00), HNB (+Rs 2.00 to Rs 382.00), Commercial Bank (+Rs 1.00 to Rs 206.00), Access Engineering (+Rs 1.40 to Rs 80.50), and ACL Cables (+Rs 1.90 to Rs 97.80). • Top Losers: Haycarb (-Rs 6.50 to Rs 212.00), Ceylon Cold Stores (-Rs 1.50 to Rs 126.00), Colombo Dockyard (-Rs 1.00 to Rs 125.25), and Browns Investments (-Rs 0.10 to Rs 5.20). • Regulatory & Compliance Watchlist: • Remaining on Watchlist: Standard Capital, Softlogic Holdings, Kelsey Developments, Hela Apparel Holdings, Nation Lanka Finance, Blue Diamonds Jewellery, Bimputh Lanka Investments, Asia Capital, and Anilana Hotels due to non-submission of annual reports for FY ending March 31, 2026. • Newly Transferred to Watchlist: Greentech Energy, Laugfs Gas, Exterminators, Janashakthi Finance, Tess Agro, Eastern Merchants, Lake House Printers & Publishers, and Industrial Asphalts for the same reporting non-compliance.

Capital Markets & Investment
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📈 Money Market Liquidity Hits 6-Month High Exceeding Rs. 350 Bn

• Liquidity Figures: Systemic liquidity surged to a 24-week high of Rs. 355.30 Bn, up from Rs. 318.15 Bn in the previous week. Weighted average Call Money and Repo rates stood at 8.86% and 8.92%, respectively. • Bond Market Movement: Secondary market yields closed higher after volatile trading. Initial buying interest was outweighed by profit-taking, rising global bond yields, and Middle East geopolitical tensions driving up oil prices. • Short to Mid Tenors: 2028 tenors traded in the 10.00%–10.14% range, while 2030 tenors (01.08.30 & 15.10.30) saw yields rise from lows of 10.40%–10.45% to highs of 10.75%. • Long Tenors: 2034–2037 tenors saw yields move higher, peaking between 11.75% and 11.95%. • Treasury Bill Auction: Yields fell for the 8th consecutive week. The 182-day bill dropped 17 bps to 9.27%, 91-day fell 10 bps to 8.96%, and 364-day eased 8 bps to 9.81%. The full Rs. 80 Bn offer was raised with strong total demand (2.54x oversubscribed). • Foreign Holdings & Forex: Foreign investment in rupee treasuries edged up by Rs. 90 Mn (10-week low) to total Rs. 210.65 Bn. The Rupee depreciated marginally to close at Rs. 328.22/328.30 per USD, with average daily USD/LKR traded volume at $ 57.81 Mn.

Capital Markets & Investment
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Sri Lanka Rupee Appreciates Slightly; Bond Yields & Stocks Trend Higher 📈

• Foreign Exchange (Forex): The Sri Lankan rupee appreciated in the spot market to 328.20/30 against the US dollar, up from 328.45/60 the previous day. Telegraphic transfer rates stood at 323.90 buying / 332.90 selling for USD, 374.37 buying / 388.15 selling for EUR, and 437.48 buying / 451.59 selling for GBP. • Government Securities: Treasury bond yields quoted slightly higher across key maturities. The 15.10.2030 bond rose to 10.73/78% (from 10.68/75%), while the 15.10.2034 bond increased to 11.75/80% (from 11.65/75%). Other maturities traded at: - 15.05.2030: 10.45/55% - 01.10.2032: 11.05/15% - 15.01.2033: 11.20/30% - 15.08.2036: 11.83/90% • Equity Markets: The Colombo Stock Exchange (CSE) gained momentum. The All Share Price Index (ASPI) rose by 0.32% (+67.83 points) to 21,462, while the S&P SL20 index gained 0.46% (+27.68 points) to reach 6,022.

Capital Markets & Investment
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📈 CSE Trends Up; Kotagala Plantations to Amalgamate Subsidiary

• Market Overview: Benchmark ASPI gained 0.37% (+79.28 points) to 21,474.39, while the S&P SL20 rose 0.47% (+27.95 points) to 6,023.20 in Friday morning trading. Overall market turnover reached Rs. 248.3 Mn. • Sector & Stock Drivers: The materials sector led market turnover at Rs. 108.98 Mn. Key positive contributors included banking giants Hatton National Bank (up 0.66% to Rs. 379.75) and Sampath Bank (up 0.18% to Rs. 139.00), alongside telecommunications firm Dialog Axiata (up 0.86% to Rs. 46.90). Royal Ceramics Lanka (up 2.51%), Ceylon Cold Stores (up 1.85%), and Sunshine Holdings (up 2.08%) also supported gains. Commercial Development Company was a top loser, down 2.51% to Rs. 35.00. • Corporate Restructuring: Plantations sector constituent Kotagala Plantations gained 1.23% (trading at Rs. 8.20) following its decision to amalgamate with its 99.999% owned subsidiary, Rubber and Allied Products (Colombo), subject to shareholder approval. Minority shareholders holding 9 combined shares will receive Rs. 8.10 per share in cash, with parent company shares cancelled.

Capital Markets & Investment
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📈 SEC Defends International Forums as Singapore Equity Investments Triple

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

Capital Markets & Investment
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🇱🇰 Sri Lanka Rupee Marginally Weakens as Treasury Bond Yields Rise 📈

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

Capital Markets & Investment
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Sri Lanka Raises Extra Rs8Bn via T-Bill Tap Facility 📉

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

Capital Markets & Investment
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CBSL Open Market Operations Summary – 03 Sept 2026 📈

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

Capital Markets & Investment
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📈 Sri Lanka Stocks Close Up; ASPI Gains 0.33%

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

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

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

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

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

Capital Markets & Investment
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Sustainability, ESG & Corporate Responsibility

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Haycarb PLC Partnering with CCB to Boost Coconut Value Chain in Eastern Province 🌴

• Program Reach: Supported 784 rural farmers across 559 acres in Batticaloa and Ampara with 35,786 free certified seedlings since 2025; targets 65,000 distributed seedlings by end-2026. • Strategic Expansion: Extends previous Northern Province drive (100,000 seedlings distributed with an 80-85% survival rate) to secure long-term raw material supply for coconut shell-based activated carbon manufacturing. • Livelihood & Sector Impact: Farmers retain full ownership without mandatory supply agreements and practice intercropping with cash crops for immediate income while trees mature (5 years to fruit, productive for 60+ years). • Agri-Resilience: CCB provides technical assistance in pest, irrigation, and fertilizer management to mitigate climate variability, water scarcity, and wildlife challenges in Eastern districts. How can I assist you further with updates on Sri Lanka's agricultural or manufacturing sectors? [Coconut cultivation concessions and practices in Sri Lanka](https://www.youtube.com/watch?v=hR_55_icJZw) This video is relevant as it provides insights into coconut cultivation support, subsidies, and agricultural initiatives for coconut farmers in Sri Lanka.

Agriculture, Plantations & Fisheries
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Sri Lanka Facing High Risks in Global Foresight Scenarios 📈

• Economic Impact: Cyclone Ditwah (2025) caused US$ 4.1 Bn in direct physical damage, with overall economic losses reaching US$ 6–7 Bn (7% of GDP). Sri Lanka ranks in the highest risk "red zone" in the Asia-Pacific per the Global Climate Risk Index 2025. • Sector Vulnerabilities: Emerging global trade blocs could impose carbon tariffs and limit green technology access. Key export sectors including tea, spices, and garments (part of apparel & textiles) face severe non-competitiveness if excluded from major economic blocs. • Foresight Matrix & Risks: Under fragmented global scenarios (2026–2031), reduced institutional support could lead to capital withdrawal, brain drain in ICT/BPM and skilled labor, and supply chain disruptions. • Corporate & Strategic Focus: Businesses must build operational redundancies (power, water, logistics) and prioritize adaptation and resilience over simple climate awareness.

Economy-wide / Cross-sector
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🌱 PM Highlights Sri Lanka’s Sustainable Agriculture Heritage at Bhutan Summit

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

Agriculture, Plantations & Fisheries
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🌱 Browns Hotels & Resorts Launches ‘BIGG CARE’ Sustainability Framework

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

Tourism, Hospitality & Leisure
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Sunshine Medical Devices Supports Sri Lanka’s 1st National Suture Championship 📈

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

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

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

Agriculture, Plantations & Fisheries
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🌱 EV Shuttle Proposed to Boost Eco-Tourism at Horton Plains

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

Tourism, Hospitality & Leisure
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🌿 Horton Plains to Limit Daily Visitors and Launch Online Booking System

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

Tourism, Hospitality & Leisure
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🌊 Nepal Flash Floods: Climate Risk Warnings for Sri Lanka's Infrastructure

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

Economy-wide / Cross-sector
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Sri Lanka Faces Dual Farm Risk: Early Drought to Maha Flood Hazards 📈

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

Agriculture, Plantations & Fisheries
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📈 Rs. 22 Mn Ag-Equipment Handed Over for Nuwara Eliya School Meal Program

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

Agriculture, Plantations & Fisheries
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🌱 UN Global Compact Convenes APAC Leaders to Mobilize Sustainable Finance 📉

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

Economy-wide / Cross-sector
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Economic News

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📈 CBSL Absorbs Record US$ 579 Mn from Domestic FX Market in August

• FX Market Interventions: - The Central Bank of Sri Lanka (CBSL) recorded a single-month net purchase of US$ 579 Mn from the domestic FX market in August 2026, the highest since January 2025. - Surpassed previous monthly highs of US$ 461 Mn in February 2026 and US$ 356 Mn in August 2025. - Cumulative net purchases for the first eight months of 2026 crossed US$ 1.48 Bn (compared to US$ 2 Bn recorded across all of 2025). • Reserve Accumulation: - CBSL is actively accumulating foreign exchange reserves to absorb external pressures rather than drawing them down defensively, marking a shift from historical balance-of-payments crisis strategies. • Rupee Trajectory & Market Trends: - Year-to-date (YTD) depreciation of the rupee against the US dollar narrowed to 5.5% by end-August, recovering from a peak depreciation of 7.9% in June driven by Middle East conflict shocks. - CBSL was a net FX seller during peak stress in April (US$ 12.9 Mn) and May (US$ 211.3 Mn) before resuming net purchases in June (US$ 70.5 Mn), July (US$ 348.6 Mn), and August.

Economy-wide / Cross-sector
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🚨 El Niño Risk to SL Economy: Threat to Forex Reserves & Food Security

A severe El Niño trajectory predicted through 2027 threatens a severe climate disruption that could trigger widespread economic stress for Sri Lanka. • Economic Impact & Forex Risk: • Thin dollar reserves—currently under US$ 7 Bn—face intense pressure as import costs skyrocket. • Severe risk to Balance of Payments (BOP) as essential import costs rise while export yields plummet. • Threatens ability to meet upcoming restructured international debt obligations. • Agriculture & Key Sectors: • Severe climate whiplash will hit crucial commercial exports like tea and rubber. • Western and Central zones face drought threatening Yala crops; Northern and Eastern zones face flash floods risking Maha crops. • Global drought in major exporters (India, Vietnam, Thailand) risks regional supply freezes and spiked import costs for essential foods (rice, milk powder, lentils). • Power Grid & Energy: • Hydropower (supplying ~1/3 of national electricity) risks failure as reservoirs dry up. • Forces switch to expensive fossil-fuel thermal energy, triggering severe foreign currency drains for fuel and higher electricity tariffs. • Proposed Policy Countermeasures: • Formation of a high-level National El Niño Response Task Force. • Shift to drought-resistant crops (kurakkan, sorghum, cassava) and short-maturity paddy strains. • Implementation of a national water credit scheme, targeted cloud-seeding, and community-level food banks across Grama Niladhari divisions.

Economy-wide / Cross-sector
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🇱🇰 Rising Tax Burden Triggers Brain Drain & Capital Capitalization

• Personal Income Taxation: Current rates reach up to 36% above the Rs. 1,800,000 tax-free threshold (e.g., Rs. 420,000 tax on Rs. 2,500,000 annual income), placing severe financial pressure on lower- and middle-income earners. • Disparity in Interest Taxes: Resident citizens face interest income tax up to 36%, compared to a concessionary 10% final tax rate for non-resident Sri Lankan citizens on local Rupee deposits. • Capital Flight Loophole: High-value resident deposit holders are reportedly transferring funds to non-resident relatives to exploit the 10% rate, eroding domestic tax equity. • Impact on Key Sectors: Heavy tax pressure is fueling a major brain drain among skilled professionals, critically impacting healthcare, ICT/BPM, education, tourism, construction, and the financial sector, leading to reliance on foreign talent.

Economy-wide / Cross-sector
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📈 Post-IMF Outlook: Financing Sri Lanka’s Development Beyond 2027

Sri Lanka’s $3.0 Bn IMF EFF program expires in March 2027, leaving behind a restrictive legal framework (Central Bank Act 2023, Economic Transformation Act 2024) and high debt service obligations stepping up sharply from 2028 as restructured bonds amortize. • Post-2027 Challenges: Poverty remains near 25% of the population, accompanied by a structural loss of skilled labor (ICT/BPM, medical, engineering) due to migration. • Debt Management Limits: • Macro-linked Bonds: Potential risk of overpaying growth premiums driven by exchange rate movements rather than real output. • Climate Swaps: Concessional but may restrict land/coastal usage needed for industrialization and energy expansion. • Bond Buybacks: Offer marginal relief, but discounts have narrowed as bond prices recovered. • Domestic Market Architecture: Restructuring the primary dealer network and introducing a Medium-Term Debt Management Strategy (MTDS) are vital for effective yield discovery and debt governance. • Diversifying via China Infrastructure: • Expand the 10 Bn RMB swap line for trade settlement to reduce USD reliance. • Access China's FIMA RMB repo facility (announced June 2026) for liquid reserve buffers. • Tap Panda Bonds (onshore China) and Dim Sum Bonds (Hong Kong) for lower-cost, non-USD development capital. • Integrate with CIPS and establish direct LKR–RMB settlement to reduce USD transaction volatility. • Multipolar Settlement Corridors: Replicate local currency settlement templates with major partners like India to lower transaction costs and cushion domestic industries (e.g., manufacturing, energy imports) against global exchange rate shocks.

Economy-wide / Cross-sector
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📈 CBSL Open Market Operations Summary – 04 Sept 2026

• Call Money Market: Total gross volume stood at Rs. 53,056 Mn (net Rs. 52,976 Mn) with a weighted average rate of 8.86% (range: 8.75% – 8.91%). • Repo Market: Gross transactions reached Rs. 60,022 Mn (net Rs. 59,950 Mn) with a weighted average rate of 8.92% (range: 8.85% – 9.02%). • Open Market Auctions: • _Overnight Repo_: Offered Rs. 30,000 Mn; bids received and accepted total Rs. 27,500 Mn at a weighted average yield of 8.70%. • _Short-Term Repo (5-Day)_: Offered Rs. 30,000 Mn; bids received and accepted total Rs. 23,500 Mn at a weighted average yield of 8.75%. • Standing Facilities: • Standing Deposit Facility utilization: Rs. 60,066 Mn • Standing Lending Facility utilization: Rs. 770 Mn • CBSL Holdings: Central Bank Treasury Bill/Bond holdings reached a face value of Rs. 2,492.62 Bn (Book value: Rs. 1,551.03 Bn).

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

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

Economy-wide / Cross-sector
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📈 Sri Lanka’s Target to Reach $200 Bn Economy Faces Governance Hurdles

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

Economy-wide / Cross-sector
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📊 Sri Lanka GDP Trajectory & Economic Outlook

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

Economy-wide / Cross-sector
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IMF Advises Central Banks to Shift Away from Rate Commitments 📈

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

Economy-wide / Cross-sector
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CBSL to Host Global Reserve Management Conference in Colombo 📈

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

Banking & Financial Services
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📈 Budget 2027: Call to Reform Local Government Finances

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

Economy-wide / Cross-sector
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🇱🇰 Sri Lanka’s Post-IMF Outlook: Growth Strategy & Debt Vulnerability

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

Economy-wide / Cross-sector
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Politics & Government Impact

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⚖️ 22nd Amendment to Pass post-Supreme Court Ruling: President

• Constitutional Reforms & Anti-Corruption: President Anura Kumara Dissanayake confirmed the proposed 22nd Amendment—raising the retirement age of superior court judges—will be passed immediately after the Supreme Court determination. Measures to clear case backlogs include expanding High Courts and expediting Government Analyst’s Department reports. • Cracking Down on Illicit Outflows: Action by law enforcement has curbed illegal dollar leakages, blocking an estimated US$ 1.00 Bn in illicit outflows (comparable to annual tea export earnings). • Fiscal Progress & Revenue Expansion: Government revenue reached 16.7% of GDP in 2025 (highest in nearly 30 years) with the lowest Budget deficit recorded since 1957. • Capital Expenditure Targets: Proposed Rs. 2.00 Tn allocated for capital expenditure next year, alongside a Rs. 2.00 Bn budgetary reserve per district for local development alongside expanded welfare payments.

Economy-wide / Cross-sector
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🤝 Indian Defence Minister Rajnath Singh to Visit Sri Lanka

• Official Visit: Indian Defence Minister Rajnath Singh will undertake a 3-day visit to Sri Lanka from September 8 to 10, leading a high-level delegation from India’s Defence and External Affairs Ministries. • Key Agenda: Consultations with Sri Lanka's leadership to review and strengthen defence & maritime security, trade & economic cooperation, and engage with the Indian diaspora in Colombo. • Strategic Context: Framed under India’s 'Neighbourhood First' policy and PM Narendra Modi's MAHASAGAR vision (Mutual and Holistic Advancement for Security and Growth Across Regions). • Bilateral Background: Builds on ongoing cooperation, including India's economic crisis assistance and emergency support following Cyclone Ditwah in 2025.

Economy-wide / Cross-sector
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🏛️ UNP Marks 80th Anniversary with Call for Political Unity and Constitutional Defence

The United National Party (UNP) commemorated its 80th anniversary, bringing together key opposition figures to reflect on its socio-economic legacy and discuss future political consolidation. • Economic & Sectoral Contributions: • Party achievements highlighted included early agriculture development schemes (Gal Oya, Mahaweli), Gam Udawa housing, and free trade zones. • The introduction of the open economy model and the establishment of ~300 apparel & textiles export factories under former President Ranasinghe Premadasa were recognized as key drivers of national employment and economic diversification. • Acknowledged former President Ranil Wickremesinghe's 2022 economic stabilization efforts, which boosted foreign exchange reserves to US$ 6 Bn. • Political Reform & Modernization: • UNP leader Ranil Wickremesinghe announced plans for a "modern UNP" featuring new leadership to be officially unveiled in December. • Calls were made to defend public sovereignty and constitutional principles amid concerns over judicial independence and political pressure. • Opposition Coalition Calls: • SJB General Secretary Ranjith Madduma Bandara urged the UNP and SJB to resolve differences and reunite, citing shared political origins and policies. • SLFP and People’s United Opposition leaders underscored the necessity of multi-party ideological cooperation to preserve democratic structures.

Economy-wide / Cross-sector
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SJB Demonstrates in Colombo Fort Against 22nd Amendment 📢

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

Economy-wide / Cross-sector
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⚖️ CIABOC Complaint Lodged Against 159 NPP MPs Over Allowance Misuse

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

Economy-wide / Cross-sector
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🏛️ Namal Rajapaksa Summoned to CIABOC Today

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

Economy-wide / Cross-sector
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⚠️ Opposition Leader Criticizes 22nd Amendment & Economic Policies

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

Economy-wide / Cross-sector
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🏛️ Sri Lanka's Legal Evolution & Political Power Structure

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

Economy-wide / Cross-sector
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HRW Calls for Accelerated Action on Past Abuses in Sri Lanka ⚖️

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

Economy-wide / Cross-sector
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⚖️ Supreme Court Rejects Full-Bench Hearing for 22nd Amendment Petitions

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

Economy-wide / Cross-sector
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⚖️ Former Minister Piyankara Jayaratne Sentenced to 7 Years Rigorous Imprisonment

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

Economy-wide / Cross-sector
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⚖️ Ex-Finance Minister Ravi Karunanayake Granted Bail in NLB Corruption Case

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

Economy-wide / Cross-sector
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Startups & Entrepreneurship

CCWE Workshop Calls for Collective Action to Drive Women’s Economic Empowerment 📈

The Ceylon Chamber of Women Entrepreneurs (CCWE) and the University of Kelaniya hosted the national workshop "Advocating for Change: Women's Economic Empowerment through Collective Action" under the Agence Française de Développement (AFD)-supported FAME Project. • Strategic Focus: Moving beyond isolated interventions to build an interconnected ecosystem providing women access to finance, technology, markets, and policy institutions. • Economic Shift: Transitioning women-owned micro and livelihood-based enterprises into growth-oriented, sustainable businesses to boost industrial development, employment, and income generation. • Grassroots Integration: Emphasizing a bottom-up approach where regional and rural women entrepreneurs actively shape national policies rather than serving solely as program beneficiaries. • Policy & Partnerships: Calling for multi-stakeholder collaboration among government ministries, international partners, academia, and the private sector to achieve measurable progress in market access, productivity, and scaling capabilities.

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

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

Education & Training
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📈 EDB Drives Digital Pathways for Women Exporters

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

Economy-wide / Cross-sector
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🌱 EthicalX Opens Applications for 2026 Climate Innovation Cohort

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

Economy-wide / Cross-sector
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Awards & Recognitions

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SL Poultry Sector Recognized as Global Sustainability Leader at Soy Connext 2026 📈

Sri Lanka’s poultry & animal feed sector gained global recognition at the US Soybean Export Council’s (USSEC) Soy Connext 2026 summit in Chicago. Key highlights include: • Market Position: Sri Lanka remains the world's largest market for containerised US soybean meal, importing ~255,000 tons in 2025. This feeds a domestic animal feed industry producing nearly 1.3Mn MT annually, with poultry as its primary customer. • Sustainability Milestones: 16 Sri Lankan poultry producers and feed millers hold licenses for "Sustainable U.S. Soy" labels under the U.S. Soy Sustainability Assurance Protocol (SSAP). New Anthoney’s Farms was the first in South Asia to secure the license in 2023. • Institutional Growth: The Sri Lanka Association of Animal Nutrition (SLAAN) was established in Kandy in May 2026 to enhance domestic scientific capabilities. • Global Demand Outlook: Independent forecasts project global soy import demand to rise from 247Mn MT to 319Mn MT by 2034, driven by protein demand growth in regions like South Asia.

Agriculture, Plantations & Fisheries
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Amana Bank Named Sri Lanka's Best Bank for Second Year 🏆

• Key Accolades: Awarded Best Bank in Sri Lanka for the second consecutive year at the ICC Emerging Asia Banking Awards 2026. Also won the award for Best Performance on Risk Management. • Regional Scope: Organized by the Indian Chamber of Commerce (ICC) with PwC as process reviewers, evaluating institutions across BIMSTEC countries (Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand). • Operational Strengths: Success was attributed to its non-interest-based model, asset-backed structure, strong underwriting practices, and disciplined risk-sharing frameworks. • Strategic Leadership: Highlights the growing trust in alternative models within the broader banking & financial services sector, supporting national financial stability and inclusion.

Banking & Financial Services
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Vallibel Finance Ranks Among Sri Lanka’s Top 100 Most Valuable Brands 2026 📈

• Vallibel Finance has been recognized in the Brand Finance Sri Lanka Top 100 Most Valuable Brands 2026 ranking, securing a spot among the top 5 most valuable brands in the financial services sector. • Brand Performance & Growth: • Advanced 5 positions up in the 2026 national rankings compared to 2025. • Brand value expanded from Rs. 1.9 billion to Rs. 2.5 billion. • Awarded an A- brand strength rating, signaling strong customer trust and business performance within Sri Lanka's banking & financial services sector.

Banking & Financial Services
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📈 Ogilvy Group Sri Lanka Tops Tally at Dragons of Sri Lanka 2026

• Overall Performance: Ogilvy Group Sri Lanka secured 9 awards—one of the highest overall tallies—at the 3rd edition of the Dragons of Sri Lanka 2026. Organized by 4As Sri Lanka under the regional Dragons of Asia platform, the competition shortlisted over 50 agencies and corporates. • Tally Breakdown: 2 Gold Dragons 1 Silver Dragon 6 Black Dragons • Agency Highlights: Ogilvy Digital: Won 8 awards in total, including 1 Gold (Business & Trade Marketing), 1 Silver (Innovative Idea/Concept), and 6 Black Dragons across categories such as ICT/BPM, digital content creation, event/experiential, small budget, and sales generation. Phoenix Ogilvy: Claimed 1 Gold Dragon in the Product Launch/Re-Launch category for the multi-dimensional campaign rejuvenating the 30-year heritage brand, American Premium Water. • Industry Impact: Highlights the group's 290+ team across advertising & integrated communications, demonstrating how strategic creative execution drives measurable commercial results for local and global brands in Sri Lanka's marketing landscape.

Telecommunications & Media
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Hayleys Fentons Secures No. 2 Spot at Dragons of Sri Lanka Awards 2026 📈

• Overall Achievement: Hayleys Fentons Ltd. was ranked 2nd overall at the 26th Dragons of Sri Lanka Awards 2026. Notably, it stood out as one of only two corporate organizations competing against professional creative and advertising agencies. • Campaign Tally & Breakdown: • Gold Dragons (2): Awarded for "PR Corporate Branding" (Public Relations) and "Roots of Resilience" (Cause, Environment or Sustainability for mangrove restoration). • Silver Dragon (1): Hayleys Solar secured an award for its digital campaign "Anahitiya" (Social Media). • Bronze Dragon (1): Hayleys Mobility recognized for its Small Budget Campaign. • Black Dragons (2): Hayleys Mobility won two awards for its "Drive First, Fly Next" campaign (Content Creation and Social Media). • Strategic Impact: The awards showcase the ability of an engineering-led company to build strong brands and deliver effective marketing across technical sectors, including construction & engineering, renewable energy (solar and wind), IT/technology, and mobility solutions.

Manufacturing & Industrials
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🏆 Kites Global Wins Gold & Bronze at Dragons of Sri Lanka 2026

Creative agency Kites Global secured two major awards at the Dragons of Sri Lanka 2026, highlighting the strength of Sri Lanka's creative & digital marketing sector in driving tangible commercial outcomes. • HNB Life "Like for Life" (Gold - Small Budget) • Reach & Engagement: Reached over 2.29M people and generated 5.32M+ impressions via 7 Instagram Reels. • Commercial Impact: Contributed to a record 42% YoY sales growth—the highest annual increase in HNB Life’s history. • DSI USofto "Teachers’ Day 2025" (Bronze - Content Creation) • Reach & Engagement: Garnered over 11.5M video views, 4.8M+ reach, and 399,000+ engagements using emotional storytelling. • Commercial Impact: Led to an increase in gift voucher sales performance.

Telecommunications & Media
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🏆 American Premium Water Secures Four Awards at Dragons of Sri Lanka 2026

Following its 2025 brand relaunch, American Premium Water secured four awards at the Dragons of Sri Lanka Awards 2026, marking a successful debut at Asia's premier results-driven marketing platform. Key Achievements & Category Highlights • 3 Gold Dragons: Awarded for Product Launch or Re Launch, Cause, Environment or Sustainability, and Creative Excellence. • 1 Black Dragon: Recognized in the Small Budget category for high-impact campaign efficiency. • Agency partners involved in the winning entries include Phoenix Ogilvy and Shift Integrated. Business & Sustainability Footprint • Environmental Innovation: Introduced a sustainable glass bottle initiative as part of its environmental stewardship program. • Community & ESG: Partnered with OrphanCare to support 90+ orphanages; donated over 800,000 liters of clean drinking water to underserved areas over the last decade. • Consumer Engagement: Sports partnerships have reached over 1.6 million individuals to promote healthier lifestyles.

Food, Beverage & Consumer Goods
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Applications Open for Inaugural Geoffrey Bawa Moonamal Award 🌿

The Geoffrey Bawa Moonamal Award, presented with the Wildlife and Nature Protection Society of Sri Lanka, has opened calls for its inaugural cycle to recognize implemented projects balancing human needs with ecological thriving. • Award Overview & Categories: Built Environment: Covers architecture, infrastructure, urban design, and landscape design. Public Policy: Recognizes policies enabling or incentivizing ecological design. • Eligibility & Assessment Criteria: Open to individuals, government agencies, NGOs, community groups, researchers, and multidisciplinary teams. Projects must be implemented in Sri Lanka within the last 10 years and completed for at least one year. Evaluated on mitigating environmental damage, supporting ecological recovery, and integrating local context (geography, hydrology, flora, fauna). • Strategic Partnerships: Supported by the Sri Lanka Institute of Landscape Architects (SLILA) and the Institution of Engineers Sri Lanka (IESL) to drive interdisciplinary collaboration across architecture, engineering, and environmental sectors. • Application Timeline: Online submissions open in Sinhala, Tamil, or English from 31st August 2026 to 15th January 2027. Shortlist and winners to be announced in mid-2027; winners receive a fellowship for further learning and public engagement.

Construction & Real Estate
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🏆 SLT-MOBITEL Wins Three Honours at National Business Excellence Awards 2026

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

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

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

Technology & Digital Services
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🏆 Jetwing Vil Uyana Secures PATA Gold Award 2026 for Sri Lanka

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

Tourism, Hospitality & Leisure
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🏆 CEAT Retains Top Spot as Sri Lanka’s Most Valuable Tyre Brand

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

Manufacturing & Industrials
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Uncategorized

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💼 The Management Club (TMC) Drives Leadership Standards in Sri Lanka

• Overview: Established in 2001 under the Chartered Management Institute – UK (Sri Lanka Branch), TMC is a professional forum dedicated to advancing management practices to meet international standards through continuous networking and development programs. • Key Hotel Partners: • TMC Colombo: Cinnamon Grand Colombo • TMC Mount Lavinia: Mount Lavinia Hotel • TMC Moratuwa: Ranmal Ramadia • TMC Negombo: Camelot Beach Hotel • TMC Jaffna: J Hotel Jaffna • Corporate & Media Partners: • Strategic Partners: HNB, Sri Lanka Insurance Corporation • Media Partner: Daily Financial Times • Knowledge Partner: KPMG • Service Partners & Providers: Nine Hearts, Sharp Graphics, KFC, Softlogic, Mobitel • Membership Inquiries: • Tel: 071 5860000 • Email: [email protected]

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

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

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

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

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

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

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

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

Telecommunications & Media
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🕯️ Parliament Pays Tribute to Music Icon Dr. Nanda Malini

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

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

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

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

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

Tourism, Hospitality & Leisure
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Suspected Drug Trafficker Shiran Basik Extradited from Dubai to Sri Lanka ⚖️

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

Other
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⚠️ Notice: Summary Unavailable

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

Other
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📈 Sri Lankan Business News Update

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

Other
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⚠️ Data Unavailable: Could Not Extract Report

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

Other
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Global & International Business

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US Officials to Visit Sri Lanka to Advance Maritime Trade 📈

• Key Delegation Visit: US Federal Maritime Commission (FMC) Chairman Laura DiBella and FMC Commissioner Robert J. Harvey will visit Sri Lanka from September 6–10 to strengthen bilateral maritime trade, investment, and Indo-Pacific shipping networks. • Strategic Port Impact: Over 80% of containers moving through the Port of Colombo are transshipments bound for global destinations, reflecting Sri Lanka's pivotal role in Indian Ocean trade. • High-Level Engagement: The delegation will meet top government and maritime industry leaders. DiBella will deliver key remarks at the Colombo International Maritime and Logistics Conference, while Harvey will participate on an expert panel. • Economic Synergy: Enhanced cooperation aims to secure trade routes, open avenues for American businesses, reinforce Sri Lanka's standing as a regional hub, and boost mutual economic prosperity.

Transport, Logistics & Infrastructure
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SLBBC 31st AGM: Focus on EU Trade Pathways & GSP+ Extension 📈

• EU Trade Access & Policy Updates Sri Lanka's EU GSP+ access remains secured until 2029, featuring a 2-year window to reapply under the revised regime. Potential long-term trajectory targets transitioning from GSP+ toward a comprehensive Free Trade Agreement (FTA) with the EU. Regulatory concerns noted regarding bureaucratic delays in quality clearances and restrictive foreign investment caps. • Key Growth Sectors & Regional Focus Renewable energy: Targeting 70% renewable electricity generation by 2030. Agriculture & agro-processing: Focus on GI-certifiable crops such as cocoa, vanilla, and spices to prevent missed export opportunities in the EU. Floriculture: Positioning Sri Lanka as the South Asian hub for tropical ornamental plants and cut foliage via Netherlands trade gateways. Other focal industries: Eco-tourism, coconut, and healthcare. • SLBBC Leadership (2026/2027) Re-elected President: Mr. Farhath Amith (Fanam International). Senior Vice President: Mr. Shaameel Mohideen (Spillburg Holdings). Vice President: Mr. P. M. Abeysekara (Vinu International Trading Company). Committee representation includes travel, logistics, healthcare, and technology sectors.

Economy-wide / Cross-sector
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Foreign Minister Vijitha Herath Begins Official UAE Visit 📈

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

Economy-wide / Cross-sector
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📈 Sri Lanka–Hong Kong Strategic Bilateral Trade and Investment Links Strengthened

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

Economy-wide / Cross-sector
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🤝 Sri Lanka & Japan Hold Inaugural Talks on Export-Oriented Industrial Corridor

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

Economy-wide / Cross-sector
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📈 Sri Lanka–China Business Council Celebrates 25th Anniversary

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

Economy-wide / Cross-sector
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🌐 Existential Realism: Rethinking Sri Lanka's Foreign Policy in a De-Globalising World 📈

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

Economy-wide / Cross-sector
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🤝 Sri Lanka Business Mission Unlocks Trade & Investment Avenues in Australia

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

Economy-wide / Cross-sector
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NCE to Lead Business Delegation to India to Unlock Export Growth 📈

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

Economy-wide / Cross-sector
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📈 Sri Lanka Pitching Expo 2027 to Australian Investors in Melbourne

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

Economy-wide / Cross-sector
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📈 Foreign Diplomats Briefed on Sri Lanka Economic & Investment Summit 2026

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

Economy-wide / Cross-sector
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🍍 Historic Milestone in Sri Lanka’s Fresh Fruit Exports to Pakistan

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

Agriculture, Plantations & Fisheries
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Corporate News

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Asiri Central Hospital Reaches 100 Pediatric Heart Surgeries Benchmark Under Suraksha Scheme 📈

• Milestone Overview: Asiri Central Hospital successfully completed its 100th Atrial Septal Defect (ASD) surgery for schoolchildren. Procedures were fully funded via the Suraksha Insurance Scheme, Sri Lanka’s free national student health insurance program run by the Ministry of Education and Sri Lanka Insurance Corporation General Ltd. • Partnership Impact: Highlights effective public-private collaboration, eliminating financial barriers and shortening waitlists for specialized pediatric cardiac care across island-wide student populations. • Surgical & Medical Care: Operations were led by Dr. M. S. Mugunthan (Consultant Cardiothoracic Surgeon, LRH and Asiri Central Hospital) alongside Consultant Anaesthetists Dr. Asitha Dissanayake and Dr. Geetha Jayathilake, supported by specialized intensive care teams.

Healthcare & Pharmaceuticals
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SLID and EY to Host INED Forum on Boardroom Resilience 📊

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

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

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

Capital Markets & Investment
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🏦 DFCC Bank Secures CSE Approval for Rs. 12.5 Bn Debenture Issue

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

Banking & Financial Services
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🔔 Lanka IOC Rings CSE Bell to Mark Silver Jubilee Year

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

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

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

Banking & Financial Services
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📈 Asia Capital Secures Rs. 1.5 Bn Debt Rebate in Key Restructuring Milestone

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

Capital Markets & Investment
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📈 NSB Group Reports Rs. 22.5 Bn Operating Profit in 1H 2026

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

Banking & Financial Services
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📈 SLID Concludes Landmark Corporate Director Summit 2026

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

Professional & Business Services
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Porsche Signs US$ 1.5 Bn Strategic AI Deal with TCS 📈

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

Technology & Digital Services
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🤝 Adfactors PR Acquires Majority Stake in Australia’s SenateSHJ

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

Professional & Business Services
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📈 Fintrex Finance More Than Doubles 1Q PAT to Rs. 210 M

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

Banking & Financial Services
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Appointments & Executive Moves

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👔 Pradeep Kahawalage Re-Elected as CNCI Chairman

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

Professional & Business Services
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👔 Abans Finance Appoints Lakshman Gunasekara as New CEO

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

Banking & Financial Services
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📈 Digital Mobility Solutions Lanka Appoints Priyanthini McNair to Board

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

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

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

Construction & Real Estate
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👔 Jonathan Alles Appointed Chairman of Singer Finance

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

Banking & Financial Services
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🤝 New Chinese Ambassador Wei Huaxiang Assumes Office in Sri Lanka

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

Economy-wide / Cross-sector
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👔 Dr. Prasad Samarasinghe Appointed Chairman of HNB Finance

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

Banking & Financial Services
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🏛️ Chandana Guniyangoda Assumes Duties as New Chairman of People’s Bank

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

Banking & Financial Services
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🏦 Seylan Bank Appoints Krishan Thilakaratne as Deputy Chairman

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

Banking & Financial Services
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👔 Abans PLC Appoints Buddhika Dharmawardene as New CEO

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

Retail & E-commerce
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WSO2 Names Harry Ault as New CEO to Drive Next Growth Phase 📈

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

Technology & Digital Services
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Suranjith Wewita Appointed New SLTDA Chairman 📈

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

Tourism, Hospitality & Leisure
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Real Estate

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

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

Construction & Real Estate
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Home Lands Speeds Ahead: 60% Piling Done at Port City 📈

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

Construction & Real Estate
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📈 RIUNIT Investor Forum 2026 Spotlights Regional Growth & Real Estate

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

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

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

Construction & Real Estate
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🏛️ Cabinet Approves Revised Rs. 25.6 Bn Agreement for Sethsiripaya Phase III

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

Construction & Real Estate
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📈 Ruwanpura Expressway Approval Set to Surge Real Estate Demand

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

Construction & Real Estate
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📈 Colombo Land Valuation Indicator Rises 5.9% in H1 2026

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

Construction & Real Estate
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🏢 Tilko Blue Ocean Signs BOI Agreement for Jaffna’s Tallest Residential Tower

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

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

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

Construction & Real Estate
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🏛️ Govt. Invites Bids to Commercialise Heritage Bungalows in Colombo 5

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

Construction & Real Estate
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Financial & Investment News

📈 Asia Asset Finance Rs. 1.5 Bn Rights Issue Oversubscribed

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

Banking & Financial Services
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📈 Union Bank Plans Rs. 708.4 M Rights Issue to Strengthen Capital

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

Banking & Financial Services
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Govt Targets Fresh US$ 4.1 Bn Investment into Port City Colombo 📈

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

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

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

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

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

Banking & Financial Services
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📈 M.A. Yaseen Invests Rs. 5 Bn in UML and RIL

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

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

✈️ Jetstar Launches Direct Low-Fare Colombo–Melbourne Route

• Overview: Australian low-cost carrier Jetstar has launched the first direct low-fares flights between Colombo and Melbourne, operating three times weekly on year-round schedules. • Capacity & Pricing: • Adds over 100,000 low-fare seats annually between Sri Lanka and Australia. • Promotional one-way fares start at LKR 67,770 (sale active until August 31, 2026). • Tourism & Sector Impact: • Expands capacity for Sri Lanka's aviation and tourism sector by providing consistent, year-round direct inbound traffic without third-country connections. • Enhances trade and travel connectivity to Victoria—home to Australia's largest Sri Lankan diaspora—and onward connections across Australia and New Zealand. • Operations: • Routes serviced by Jetstar’s Boeing 787 Dreamliners. • Local commercial and operational support handled by Hayleys Advantis as the General Sales Agent (GSA).

Transport, Logistics & Infrastructure
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7. Regulatory & Policy News

🛡️ Sri Lanka Cyber Readiness: Tackling "Dark Data" & Fraud Ahead of 2027 PDPA

The 2nd Data Privacy and Protection Summit 2026 convened over 380 industry leaders to address critical cybersecurity vulnerabilities, dark data, and the role of AI-driven defenses in Sri Lanka's digital economy. • Rising Cyber Threat & Fraud Metrics • Estimated card-not-present fraud losses jumped 149% from 2025 to reach US$ 49 Bn across the Asia Pacific region. • Nearly 60% of data breaches stem from unmanaged, forgotten "dark data" systems. • Global average cost of a data breach reached US$ 4.8 Mn in 2024, with 75% of consumers refusing to transact with breached firms. • High-Risk Sectors & Attack Vectors • 70% of cyberattacks target three foundational pillars: ICT/BPM (technology), financial services, and the government sector. • Primary threats targeting local entities: Malware, email phishing, ransomware, and reconnaissance. • Key targets include customer financial data, personally identifiable information (PII), business systems, and intellectual property. • Strategic Imperatives for Sri Lanka • Upcoming enforcement of Sri Lanka's Personal Data Protection Act (PDPA) on 1 January 2027 makes data governance a critical strategic priority. • Adoption of AI-powered security is key to automatically discovering, classifying, and securing unstructured sleeping data across banking and connected payment networks.

Technology & Digital Services
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**Awards & Recognitions**

Commercial Bank Named Sri Lanka’s Strongest Banking Brand 2026 📈

Commercial Bank of Ceylon has retained its title as Sri Lanka’s Strongest Banking Brand in Brand Finance’s '100 Most Valuable Brands 2026' report. • Brand Performance & Valuation: • Ranked the 2nd Most Valuable Brand overall in Sri Lanka. • Brand value increased by 17.8% YoY to Rs. 54.9 Bn (up from Rs. 46.6 Bn). • Earned a Brand Strength Index (BSI) score of 87/100 with a AAA rating. • Market Position & Reach: • Operates over 270 branches island-wide alongside specialized Agriculture & Micro Finance Units (AMFU). • First Sri Lankan bank to cross $ 1 Bn in market capitalization. • Holds the highest capital base among Sri Lankan banks and is the largest private sector lender. • Ranked No. 1 Sri Lankan bank in The Banker Top 1000 World Banks 2026. • International Footprint: • Operates 21 branches in Bangladesh, a majority stake in a Tier-I bank in Maldives, a microfinance unit in Myanmar, and a rep office in DIFC (Dubai). • Sustainability & Innovation: • Certified as Sri Lanka's first 100% carbon-neutral bank and leads in digital banking.

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

🏆 National Business Excellence Awards 2026 Honours Top Sri Lankan Enterprises 📈

The National Chamber of Commerce of Sri Lanka (NCCSL) concluded the 21st edition of the National Business Excellence Awards (NBEA) 2026 at Shangri-La Colombo, celebrating corporate resilience and performance. • Overall Winners: • 🥇 Gold Award: People’s Bank • 🥈 Silver Award: Citizens Development Business Finance PLC • 🥉 Bronze Award: JAT Holdings PLC • Event & Participation Highlights: • Over 140 nominees recognized across 31 business sectors and categories. • Evaluated transparently by an expert panel led by Ernst & Young FAAS partner Rajith Perera and co-chaired by Snr. Prof. Ajantha Dharmasiri and Lasantha S. Salgado. • Graced by Chief Guest, H.E. Rémi Lambert, Ambassador of France to Sri Lanka and the Maldives. • Key Focus: • Benchmarking organizational growth in corporate governance, sustainability, innovation, and leadership. • Supporting national economic development by driving competitiveness across key corporate and financial sectors. --- This video provides additional context on People's Bank being recognized as the overall Gold winner at the National Business Excellence Awards 2026: [People's Bank NBEA 2026 Gold Award Presentation](https://m.youtube.com/watch?v=6KqeSQAMjVI)

Economy-wide / Cross-sector
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🚨 Demolitions Disrupt Ahangama Tourism Hub

• Enforcement Action: Several high-profile tourism establishments—including Gelato, Crust, Marshmallows, Ceylon Sliders, Uncle’s, and Cactus—are being demolished in Ahangama as unauthorized structures. • Economic & Local Impact: These popular venues were instrumental in transforming the southern coastal town into a prime hotspot, driving foreign arrivals, domestic travel, and supporting broader local livelihoods and hospitality earnings. • Industry Concerns: While stakeholders acknowledge the legal enforcement, they warn that the sudden scale of removals threatens Ahangama's unique brand, regional investment, and visitor appeal without a broader management plan to protect the local tourism economy.

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

### Cinnamon Hotels Partner with Chef Guild Lanka for Worldchefs Congress 2030 Bid 📈

Cinnamon Hotels and Resorts has entered a strategic partnership with Chef Guild Lanka to jointly bid to host the prestigious Worldchefs Congress 2030 in Sri Lanka. • Key Highlights & Strategic Initiatives Event Announcement: Unveiled during the launch of Cinnamon Box Office, a new digital booking and events platform. Bid Focus: Aimed at bringing thousands of international chefs, educators, and culinary leaders to Sri Lanka for one of the world's premier hospitality gatherings. MICE Growth Strategy: Complements existing efforts like the Sri Lanka Conference Ambassador Program (SLCAP), established with the Sri Lanka Convention Bureau and SriLankan Airlines to elevate local bidding capabilities. • Economic & Sector Impact National Alignment: Direct support to expanding Sri Lanka’s MICE (Meetings, Incentives, Conferences, and Exhibitions) ecosystem, driving higher hotel occupancy, delegate arrivals, and global destination exposure. Venue Capabilities: City of Dreams Sri Lanka serves as a focal integrated hub designed to host world-class international scale events.

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

🌊 Bank of Ceylon Drives Coastal Sustainability with Negombo Beach Cleanup

• Environmental Sustainability: Bank of Ceylon (BOC) launched a major beach cleanup initiative at Palangaturai Beach, Negombo, driven by its Sustainable Banking Unit to support long-term coastal conservation. • Multisectoral Collaboration: Key government and corporate stakeholders joined the effort, including the Department of Coast Conservation and Coastal Resource Management, MEPA, Sri Lanka Air Force, Sri Lanka Police, Ernst & Young (EY), Biodiversity Sri Lanka, and the local Hotel Owners’ Association. • Community & Leadership Engagement: The initiative mobilized local volunteers, schoolchildren from Harischandra National School, and students from Ocean University, led on-site by BOC General Manager/CEO Y. A. Jayathilaka and COO R. M. N. Jeewantha alongside executive management and branch staff.

Banking & Financial Services
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**Politics & Government Impact**

📈 Government Approves Processing of 30,000 Tons of PMB Paddy into Rice

• Overall Action: The Cabinet has approved a joint proposal by the Ministry of Agriculture and Ministry of Trade to convert 30,000 tons of paddy Marketing Board (PMB) stocks into processed rice. • Procurement & Processing Details: • The Co-operative Wholesale Establishment (CWE) will call for Expressions of Interest (EOIs) from PMB-registered rice millers. • A multi-agency Special Price Committee will set the official paddy-to-rice conversion ratio and final pricing. • Market Distribution: • Rice will be packaged in 5 kg, 10 kg, 25 kg, and 50 kg sizes. • Supply will be distributed to consumers via Lanka Sathosa outlets, cooperative networks, and private retail channels. • Economic Impact: The move aims to stabilize market food security, release existing stocks to consumers, and create crucial storage capacity for upcoming national paddy procurement initiatives.

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

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

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

Professional & Business Services
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