Product & Service Launches / Business Expansions
View all(81)SriLankan Airlines Awards Ground & Cargo Handling Contracts at Dubai Airport ✈️
The Cabinet of Ministers has approved the renewal of service agreements with Dnata, the sole service provider at Dubai International Airport, to ensure continued operations for the national carrier. • Passenger & Ground Handling: Awarded to Dnata for a 3-year term (01-04-2026 to 31-03-2029) at an estimated cost of AED 33.04 million. • Cargo Handling Services: Awarded to Dnata for a 3-year term (01-07-2026 to 30-06-2029) at an estimated cost of AED 7.6 million. • Context: The previous passenger handling agreement expired on 31-03-2026, while the existing cargo agreement is set to expire on 30-06-2026. • Approval: The resolution was submitted by the Minister of Ports and Civil Aviation following recommendations from the Bid Evaluation and Higher Level Procurement Committees. These contracts are vital for maintaining SriLankan Airlines' presence in the Middle East, a key hub for migrant labor remittances and transit traffic. 📈
Union Bank Launches Virtual Deposit Card for Bulk Business Cash 📈
Union Bank has introduced a virtual deposit card designed to streamline bulk cash handling for corporates, SMEs, and proprietors. The digital solution enables high-volume deposits through Cash Deposit Machines (CDMs) without the need for physical cards. • Efficiency & Capacity: Supports deposits of up to 200 notes per transaction at any Union Bank CDM, available 24/7 to reduce transaction delays. • Agent Management: Business owners can register multiple authorized representatives or agents to perform deposits. Owners retain full control to add or remove agents via a simplified digital process. • Security & Compliance: All nominees undergo a formal Know Your Customer (KYC) process. The system allows the bank to precisely identify the depositor for every transaction, enhancing audit trails and financial controls. • Tech Integration: The solution is mobile-based, aligning with the bank’s "digital-first" agenda to support the banking and financial services sector's modernization. This move is expected to improve liquidity management and operational safety for businesses handling significant daily cash volumes across Sri Lanka.
HIP Welcomes 2026’s First LPG Shipment for Domestic Supply 📈
The Hambantota International Port (HIP) successfully handled its first gas consignment of the year on April 4th, marking a key milestone for the energy sector’s supply chain. • Volume & Consignment: The vessel ‘Andover’ discharged approximately 7,000 MT of Liquefied Petroleum Gas (LPG) arriving from Argentina. • Market Impact: Consigned to Laugfs Gas, the shipment is estimated to supply 570,000 domestic households, addressing critical national demand. • Strategic Continuity: This represents the first gas handling at HIP since December 2025, reinforcing the port’s role as a vital hub for energy and logistics due to its proximity (10 nautical miles) to the East-West shipping lane. • Efficiency: Operations were completed under standard HIP efficiency protocols to ensure immediate integration into the domestic distribution network.
📈 MSC to Co-Develop US$ 4.9 Bn Transhipment Port in Vietnam
Global shipping giant MSC, via its subsidiary TIL, has joined a joint venture to develop the Can Gio International Transhipment Port in Ho Chi Minh City. This massive US$ 4.9 Bn project aims to position Vietnam as a premier hub in global logistics and maritime trade. • Project Scope & Capacity: Spanning 571 hectares with a 7.5 km berth, the port is designed to handle ultra-large container vessels (up to 24,000 TEU). Initial capacity is set at 4.8m TEU by 2030, scaling to 16.9m TEU by 2047. • Investment & Ownership: TIL (MSC) will hold a 49% stake in the consortium alongside Vietnam Maritime Corp and Saigon Port. The investors are responsible for mobilizing the full US$ 4.9 Bn capital. • Regional Impact: The port addresses a 5% projected growth in cargo volumes for the 2021-25 period. It is designed to balance international transhipment with Vietnam’s domestic import-export needs without disrupting existing port operations. • Strategic Context: The development strengthens MSC’s footprint in Southeast Asia, where it already moves over 1m TEUs annually. By 2050, the facility is expected to expand to 13 terminals to meet long-term global supply chain demands.
Commercial Bank & Bancstac Partner to Modernize Digital Payment Infrastructure 📈
• The Agreement: Commercial Bank of Ceylon (ComBank) has signed a long-term Technology Services Master Agreement with Bancstac to deploy a secure, bank-controlled payment processing infrastructure. The move eliminates reliance on third-party intermediaries by establishing a direct, encrypted connection to ComBank’s core systems. • Infrastructure & Governance: All transaction authorizations and settlements will continue through the ComBank switch (Euronet Worldwide). This ensures the bank retains 100% visibility, governance, and control over merchant onboarding, fee assessment, and risk management. • Service Expansion: The enhanced Internet Payment Gateway (IPG) will expand beyond Visa, Mastercard, and UnionPay to include JCB, Lanka Pay (National Card Schemes), and LankaQR. Merchants can also apply to enable American Express, Discover, and Diners Club through the same integration. • Technological Benefits: • Advanced Features: Includes tokenization, advanced fraud mitigation, automated reporting, and 24/7 monitoring. • Security Standards: Fully compliant with PCI-DSS, PCI-3DS, and GDPR, meeting Central Bank of Sri Lanka (CBSL) regulatory requirements. • Efficiency: Designed to deliver higher authentication rates, faster authorizations, and increased system uptime for the growing e-commerce sector. • Strategic Impact: This collaboration accelerates the bank’s digital transformation and supports the national shift toward a digital-first financial ecosystem by providing a scalable, future-ready payment stack for Sri Lankan merchants.
🏥 Ninewells Hospital Breaks Ground on Landmark Surgical Expansion
Ninewells Hospital has officially commenced construction on a major facility expansion, marking a strategic pivot from its traditional focus on women’s and children’s healthcare toward becoming a comprehensive provider of advanced surgical care. • Strategic Expansion: The new development will house expanded surgical capabilities and state-of-the-art medical infrastructure designed to meet the growing demand for specialized healthcare services in Sri Lanka. • Clinical Evolution: The move signifies the hospital’s evolution into a future-ready institution, leveraging its legacy in patient-centered care to compete in broader specialized surgical specialties. • National Impact: Once completed, the facility is expected to enhance national bed capacity and improve accessibility to high-quality clinical care for both local and international patients. • Key Focus: The expansion prioritizes advanced medical technology and enhanced patient comfort, aiming to elevate the standard of private healthcare delivery in the region.
📈 CSE Expands Reach: New Galle Branch Opens to Boost Regional Capital Access
The Colombo Stock Exchange (CSE) has officially inaugurated its 12th regional branch in Galle, marking a strategic move to decentralize financial services and integrate the southern province into the national capital market. • Expansion Details The new branch is part of a nationwide network (now covering 12 locations) aimed at provincial inclusion. A 13th branch in Gampaha is scheduled to open in May 2026. • Service Offerings The Galle branch provides direct access to: • CDS account openings and services from 8 stockbroker firms. • Capital raising opportunities for entrepreneurs & businesses via various listing options. • Educational seminars and investor workshops for local residents. • Sector Focus & Regional Context The CSE aims to tap into the surplus liquidity generated by the cinnamon and tea industries in regions like Neluwa, Elpitiya, and Ambalangoda. This provides a formal avenue for wealth creation beyond traditional savings. • Strategic Objectives The Securities and Exchange Commission (SEC) emphasized that this expansion is vital for national development, allowing small-scale enterprises to raise capital more efficiently and reducing the overall cost of capital for provincial businesses.
SL Tourism Targets Bangladesh Growth with First-Ever Dhaka Roadshow 📈
The Sri Lanka Tourism Promotion Bureau (SLTPB) and the Sri Lankan High Commission have successfully concluded a landmark promotional drive in Dhaka, marking a strategic effort to capture a larger share of the Bangladeshi outbound market. • Strategic Engagement: The two-day event (April 5-6) featured a media networking session with 35 leading journalists and a B2B roadshow facilitating discussions between 19 Sri Lankan tourism companies and 147 Bangladeshi travel agents. • Current Market Share: Bangladeshi arrivals currently stand at 12,120 year-to-date (YTD), accounting for 2% of total tourist arrivals to the island. • Connectivity & Partnerships: National carriers SriLankan Airlines and FitsAir participated to enhance regional connectivity and commercial collaboration. The initiative aims to leverage high-level diplomatic and industry support to position Sri Lanka as a preferred destination for South Asian travelers. • Economic Impact: The outreach focuses on diversifying source markets to boost foreign exchange earnings and support the hospitality sector. Officials expect these partnerships to translate into increased tourist flows in the coming months based on provisional engagement data.
SL Tourism Targets Bangladesh Growth with First-Ever Dhaka Roadshow 📈
The Sri Lanka Tourism Promotion Bureau (SLTPB) and the Sri Lankan High Commission have successfully concluded a landmark promotional drive in Dhaka, marking a strategic effort to capture a larger share of the Bangladeshi outbound market. • Strategic Engagement: The two-day event (April 5-6) featured a media networking session with 35 leading journalists and a B2B roadshow facilitating discussions between 19 Sri Lankan tourism companies and 147 Bangladeshi travel agents. • Current Market Share: Bangladeshi arrivals currently stand at 12,120 year-to-date (YTD), accounting for 2% of total tourist arrivals to the island. • Connectivity & Partnerships: National carriers SriLankan Airlines and FitsAir participated to enhance regional connectivity and commercial collaboration. The initiative aims to leverage high-level diplomatic and industry support to position Sri Lanka as a preferred destination for South Asian travelers. • Economic Impact: The outreach focuses on diversifying source markets to boost foreign exchange earnings and support the hospitality sector. Officials expect these partnerships to translate into increased tourist flows in the coming months based on provisional engagement data.
📈 ComBank & NCG Express Partner for Cashless Public Transport
Commercial Bank of Ceylon has partnered with NCG Express to launch a fully digital bus ticketing system, marking a significant step in Sri Lanka’s Digital Ticketing Initiative. The collaboration aims to modernize the private passenger transport sector by integrating secure, contactless payment solutions. • Digital Ecosystem: Conductors are equipped with handheld devices supporting debit/credit cards, contactless "tap" payments, Google Pay, and QR-based mobile wallets. • Operational Impact: The system ensures real-time fare collection, automated settlement via ComBank’s acquiring network, and increased transparency in revenue management for operators. • Commuter Benefits: Eliminates the need for exact cash/change, improves transaction speed, and provides digital records for enhanced trust and security. • National Context: By digitizing high-volume daily transactions, the initiative supports the national digitalization agenda and reduces the risks of manual cash handling in the transport infrastructure. • Scale: Initial deployment has started on selected NCG Express routes, with plans to expand across their entire fleet, including long-distance services to the Northern and Eastern provinces. This scalable model serves as a benchmark for the ICT/BPM and financial services sectors to collaborate on transforming Sri Lanka’s public utility landscape.
📈 LankaPay & Alipay+ Partner to Boost Tourism & Digital Payments
LankaPay, the Sri Lanka Tourism Development Authority (SLTDA), and Alipay+ have signed a strategic MoU to drive international arrivals and enhance the island’s digital payment ecosystem. • Strategic Focus: Targets high-value travelers from the Asia-Pacific (APAC) region by leveraging the Alipay+ network, which connects over 1.8 billion user accounts across 40+ international e-wallets and bank apps. • Tourism Earnings: International visitors using Alipay+ partner apps can now pay via LankaQR across Sri Lanka, accessing exclusive promotions designed to increase tourist spending and national foreign exchange earnings. • Digital Transformation: The initiative promotes the adoption of cross-border QR payments among SMEs and micro-merchants, integrating them into the global digital economy as part of Sri Lanka's broader financial sector digitalization. • Economic Impact: By simplifying transactions for ICT/BPM integrated payment systems and local businesses, the partnership aims to position Sri Lanka as a tech-forward destination while supporting long-term industry growth. Status: Based on official collaboration announcement (April 2026).
GWM Haval Jolion Hits 150-Unit Delivery Milestone in Sri Lanka 📈
Senok Trade Combine (Pvt) Ltd has announced the successful delivery of the 150th GWM Haval Jolion, marking a rapid growth phase for the brand within the local automotive assembly sector. • Sales Performance: 150 units delivered between October 2025 and February 2026. A forward order bank of over 100 units is already secured for Q2 2026. • Local Production: The model is completely assembled in Sri Lanka by Western Automobile Assembly (Private) Limited, adhering to global manufacturing standards to ensure quality and timely delivery. • Market Impact: Positioned as a leading contender in the SUV segment, the Jolion is driving growth through local value addition and industrial diversification, reducing reliance on direct imports. • Service & Support: Supported by Senok's islandwide after-sales network, ensuring availability of genuine parts and technical expertise for the growing owner base. This milestone reflects increasing consumer confidence in locally assembled vehicles and highlights the recovery and modernization of Sri Lanka's transport and mobility infrastructure.