Product & Service Launches / Business Expansions
View all(72)City of Dreams Sri Lanka: A US$ 1.3 Bn Landmark in South Asia 📈
The "City of Dreams Sri Lanka" has officially positioned itself as South Asia's first fully integrated luxury resort. A strategic partnership between Melco Resorts & Entertainment and John Keells Holdings PLC, the project represents the largest private investment in Sri Lanka to date. • Investment & Scale: Total investment of US$ 1.3 Bn. The development spans 4.5 million square feet, signaling long-term economic confidence in the tourism and hospitality sectors. • Dual-Hotel Offering: • Nüwa: The luxury flagship hotel featuring 113 high-end rooms and suites, aimed at the "high-value" global traveler segment. • Cinnamon Life: A vibrant lifestyle hotel offering 687 rooms, focusing on contemporary urban appeal and large-scale guest experiences. • Key Facilities: • Entertainment: A 180,000-sq-ft international-standard entertainment space including VIP areas. • Retail & Wellness: "The Shoppes" (luxury retail boutiques) and "Kurundu Spa." • MICE: Advanced facilities for Meetings, Incentives, Conferences, and Exhibitions to boost Colombo's business tourism profile. • Economic Impact: The project is designed to enhance Colombo’s competitiveness as a regional hub, driving employment and attracting premium international travelers. Its architecture, designed by Cecil Balmond, integrates traditional Sri Lankan motifs (Vatadage) with modern design to redefine the city skyline.
Melstacorp’s Mels Automobiles Appointed Official BMW Importer & Dealer 📈
Corporate Update: Melstacorp PLC announced via the Colombo Stock Exchange that its subsidiary, Mels Automobiles (Private) Limited, is now the authorized importer and dealer for BMW in Sri Lanka. Scope of Operations: The agreement covers the full value chain, including: • Importation, sales, and distribution of new BMW vehicles. • Supply of genuine spare parts. • Authorized aftersales and service operations aligned with global standards. Strategic Impact: This move marks a significant expansion into the premium automotive sector, aimed at diversifying the Group's portfolio and driving long-term growth. Infrastructure & Investment: Melstacorp committed to investing in world-class infrastructure to support the brand, focusing on professional management and customer-centric service delivery. National Context: The entry of a major conglomerate like Melstacorp into the automotive distribution space signals a push for high-standard service excellence and corporate professionalization within the luxury vehicle market.
📈 ComBank Launches Nationwide Drive for LankaPay JCB Debit Cards
Commercial Bank of Ceylon has announced a major campaign to accelerate the adoption of LankaPay JCB debit cards, targeting a shift toward a secure, cashless lifestyle across Sri Lanka. Building on 2025's momentum, the initiative aims to strengthen the national payment infrastructure and improve financial inclusion. • Key Offer Details Issuance Fee Waiver: The first-year fee is waived for all cards issued between 1 May and 31 December 2026. Eligibility: Open to both new customers and existing debit cardholders nationwide. • Strategic Benefits & Use Cases Domestic Reach: Accepted at major supermarkets, retail outlets, and restaurants for daily transactions. Global Connectivity: Features international usability via the JCB global network for travel and overseas payments. Value Additions: Includes exclusive cashback, seasonal promotions, and lifestyle-driven discounts. • Economic Impact Digital Transformation: Reduces reliance on cash, fostering a more resilient and self-sufficient payments ecosystem. Banking Integration: Applications are available via physical branches and digital onboarding channels to streamline the transition for the ICT/BPM and broader consumer sectors.
Hayleys’ Dipped Products Digitises Rubber Supply Chain 📈
Dipped Products PLC (DPL) has launched ‘DPL EasyPay’, a fully integrated digital ecosystem transforming latex procurement for over 4,500 smallholder farmers. The initiative, shortlisted for the World Procurement Awards 2026, shifts a historically manual process into a tech-driven model. • Operational Impact: 6,200 man-hours saved monthly through automation. 90% reduction in paper usage. 80% of DPL’s latex requirements are now sourced locally via this digital model. • Farmer Benefits & Cash Flow: 50% instant payment at the point of collection, significantly improving farmer liquidity. Remaining balance settled quickly following laboratory confirmation of Dry Rubber Content (DRC). Automated SMS notifications and receipts ensure transparency. • Technology & Traceability: Uses QR-code tracking and geo-tagging for end-to-end traceability from farm to factory. Features biometric face recognition for secure transaction validation. Offline-enabled mobile platform designed specifically for rural environments with low connectivity. • Economic Context: This digitisation strengthens the rubber sector’s supply chain resilience. By integrating smallholders into a formal digital economy, DPL has seen a substantial increase in collection volumes since the system's implementation in August 2025. _Data based on company reports as of May 2026._
New Cargo Airline ‘WEAIR’ to Launch May 28 📈
Sri Lanka’s logistics sector is set for a capacity boost as WEAIR, a new dedicated cargo carrier backed by Luxembourg-based IOTC, commences operations on May 28, 2026. The airline aims to position Colombo as a strategic regional hub, reducing the industry's reliance on passenger belly hold capacity. • Operations & Fleet Starting May 28 with a Boeing 737-800 freighter. The airline plans a phased fleet expansion and a potential listing on the Colombo Stock Exchange (CSE) by 2029. • Key Regional Routes Initial flight rotations will connect Colombo with major South Asian trade hubs: Bengaluru (India) Malé (Maldives) Lahore (Pakistan) Dhaka (Bangladesh) • Economic Impact & Sectors The dedicated freighter service is designed to improve turnaround times for time-sensitive exports, specifically benefiting: Apparel & Textiles Perishables (Agriculture/Fisheries) Pharmaceuticals E-commerce • Investment Background Backed by IOTC, a EU-based fund with nearly € 1 Bn in consolidated assets. The venture is expected to generate significant employment across aviation, logistics, and ground handling sectors.
Pan Asia Bank Launches "EV Plus" Bundled Leasing for Energy Resilience 📈
Pan Asia Bank has introduced a proactive financing solution to combat rising fuel costs and energy volatility in Sri Lanka by integrating clean transport with renewable energy. • Core Offering: The EV Plus Leasing facility bundles electric vehicle (EV) financing with a pre-approved solar energy loan or lease of up to Rs. 1,000,000 for home systems. • Sector Focus: • Automotive: Covers brand-new, reconditioned, or registered electric vehicles. Includes options to refinance or take over existing leases from other institutions. • Renewable Energy: Targets home solar systems to provide energy independence and reduce long-term household utility costs. • Financial Services: Streamlined "one-stop" approval process for both facilities, including integrated insurance for vehicles and solar infrastructure. • Strategic Impact: • Aims to reduce national dependence on fossil fuels while providing a hedge against global energy price fluctuations. • Supports economic resilience for both personal and business users through tailored repayment structures and competitive rates. • Requirements: Standard documentation applies, including KYC, income proof, EV valuations, and solar proposals.
Dialog Surpasses 1,000 5G Sites, Hits 2026 Targets Early 📈
• Infrastructure Milestone: Dialog Axiata PLC has expanded its 5G network to over 1,000 live sites, achieving the rollout targets set by the TRCSL for 2026 ahead of schedule. • Market Reach: The network now covers all districts across Sri Lanka, serving over 1.5 million subscribers from an initial base of 220 commercial sites. • Digital Transformation: The expansion is a key driver for the ICT/BPM sector, providing the high-speed connectivity necessary for enterprise innovation and the country's digital economy. • Accessibility: To drive adoption, Dialog introduced the Dialog A76, the nation's most affordable 5G smartphone at LKR 35,999, aimed at increasing digital inclusion across various income levels. • Strategic Impact: This investment strengthens national telecommunications infrastructure, supporting long-term economic growth and future-ready applications for both consumers and businesses.
Sri Lanka to Host South Asia’s First "One Love Reggae Festival" in August 2026 🏝️
• Event Overview: The landmark "One Love Reggae Festival" is scheduled for 7-9 August 2026 at Bentota Beach. This marks the first-ever large-scale reggae gathering in the South Asian region. • Scale & Talent: The festival will feature 9 legendary international headlining artists. It aims to honor the legacy of icons like Bob Marley, The Wailers, and Peter Tosh, positioning Sri Lanka as a premier hub for international entertainment and cultural tourism. • Economic Impact: • Tourism & Leisure: Organizers intend to boost Sri Lanka's profile as a vibrant destination for global leisure travelers. • Hospitality: Specially curated hotel packages and flat-rate tickets will launch in the first week of May 2026 to drive early bookings. • Regional Positioning: The event serves as a strategic move to diversify the leisure and hospitality sector by tapping into the niche global music festival market. • Logistics: Daily performances begin at 5:00 p.m. Early bird offers will be available via the dedicated digital ticketing platform, www.onelove.lk. 📈
Indian Pan-Asian Brand Yazu Debuts in Galle 📈
• Overview: Yazu Hospitality Ltd. has launched its first international outlet, "Yazu at the Beach," located at the Radisson Blu Resort Galle. This marks the entry of the prominent Indian "Progressive Pan-Asian" brand into Sri Lanka’s tourism and hospitality sector. • Strategic Alignment: The expansion targets Galle as a premier lifestyle hub, leveraging its status as a UNESCO World Heritage site and a focal point for luxury coastal tourism. The move signals growing investor confidence in Sri Lanka’s premium hospitality market. • Key Highlights: • Sector Impact: Enhances the tourism value chain by introducing an established international "supper club" concept to the southern circuit. • Partnership: The project is a collaboration involving Yazu Hospitality and Sino Lanka Holdings Ltd., aimed at strengthening the "lifestyle offering" within the local resort landscape. • Economic Context: Reflects the ongoing evolution of the leisure and dining industry, focusing on "experience-led" hospitality to attract high-spending international and local travelers. • Status: Active as of April 30, 2026.
📈 DFCC Bank Partners with AlfaNow to Boost Middle East Remittances
DFCC Bank has formalized a strategic partnership with Dubai-based AlfaNow to enhance inward remittance corridors, specifically targeting the UAE and the broader Middle East region. • Strategic Impact: The collaboration aims to provide faster, more secure, and accessible fund transfers for the Sri Lankan expatriate community, strengthening a critical "financial lifeline" for the national economy. • Operational Focus: The partnership prioritizes improved turnaround times and reliability for cross-border transactions, supporting essential household needs such as education and daily expenses. • Regional Importance: The Middle East remains a primary source for Sri Lanka's inward remittances. This move aligns with DFCC’s goal to expand its Offshore Banking and Remittance footprint in high-volume corridors. • Key Personnel: The agreement was signed by AlfaNow Group CEO Hasan Jaber and DFCC Bank Senior VP Anton Arumugam, signaling a commitment to evolving digital finance and cross-border capabilities.
Slack Unveils New AI Agent Capabilities for Workplace Integration 📈
Core Update: Slack has launched new features to build, deploy, and manage AI agents directly within its platform. This shift aims to move AI from isolated tools into the daily workflow of businesses, including those in the ICT/BPM and corporate sectors in Sri Lanka. Key Features: • Slackbot as Orchestrator: Uses the upcoming Slackbot MCP Client and AgentExchange to act as a conversational interface, connecting specialized agents to handle multi-step workflows. • Unified Marketplace: Through AgentExchange, users can access trusted agents from Salesforce, Google, Anthropic, and Box. • Enhanced Visualization: Expansion of Block Kit to include data tables, charts, and carousels, making AI-generated responses more actionable and structured. Developer & Business Impact: • Simplified Deployment: New "Add to Slack" integrations with platforms like Vercel and Lovable allow for faster agent deployment with fewer technical barriers. • Enterprise Security: Includes audit logging and permission controls to support safe AI adoption at scale for large organizations. Relevance: For Sri Lanka’s growing ICT/BPM sector, these tools facilitate easier AI adoption and digital transformation by reducing the friction between complex AI tools and everyday team collaboration.
Singhagiri Debuts Sri Lanka’s First Hisense 116” RGB Mini-LED TV 📺
Singhagiri (Pvt) Limited, the exclusive distributor for Hisense, has officially launched the Hisense 116” RGB Mini-LED TV, marking a first for the Sri Lankan consumer electronics and retail sectors. This move introduces mass-produced RGB Mini-LED technology to the local market, moving beyond conventional single-color LED backlighting. • Technical Specifications & Innovation: The new flagship model features proprietary technology with thousands of dimming zones. Key performance metrics include: Color Purity: Reaches 95% of the BT.2020 cinema-grade color space. Brightness: Peak brightness of 8,000 nits. Efficiency: A notable 20% reduction in power consumption compared to standard models. Audio: Integrated 6.2.2 CineStage X Surround system, developed in collaboration with Opéra de Paris. • Market Positioning: Singhagiri aims to redefine the ultra-premium home entertainment segment. The company highlighted that the 116” display is expected to influence luxury real estate and architectural design, as modern living spaces adapt to accommodate extra-large format screens. • Availability: The 100” variant is currently available at showrooms island-wide. Pre-orders are now open for the record-breaking 116” model. This launch reinforces Singhagiri's leadership in the technology and appliances sector, focusing on bringing global innovation to the domestic market. 📈