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Sri Lanka Unveils First National Food Safety Policy 🥗

Sri Lanka has launched its first-ever National Food Safety Policy to transform the national food control system, safeguard public health, and drive economic growth through a risk-based framework. • Policy Overview: Led by the Ministry of Health and Mass Media (FCAU), the initiative provides strategic direction across the entire value chain—from production to consumption—resolving a long-standing gap in institutional coordination. • International Support: Developed with technical assistance from the FAO and funding from the European Union via the BESPA programme. • Legislative Integration: Supported by an upcoming update to the Food Act to enforce governance and regulatory compliance. Strategic Priority Areas: • Food safety governance & institutional coordination • End-to-end food chain controls & risk management • Legislative frameworks & enhanced standards • Surveillance, laboratory capacity & risk analysis • Stakeholder communication, education & capacity building • Monitoring & evaluation mechanisms Economic Impact: The framework aims to bolster consumer confidence, boost competitiveness in agriculture and agrifood exports, lower food losses, and expand growth opportunities in international trade and tourism.

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Sri Lanka Unveils First National Food Safety Policy 🥗

Sri Lanka has launched its first-ever National Food Safety Policy to transform the national food control system, safeguard public health, and drive economic growth through a risk-based framework. • Policy Overview: Led by the Ministry of Health and Mass Media (FCAU), the initiative provides strategic direction across the entire value chain—from production to consumption—resolving a long-standing gap in institutional coordination. • International Support: Developed with technical assistance from the FAO and funding from the European Union via the BESPA programme. • Legislative Integration: Supported by an upcoming update to the Food Act to enforce governance and regulatory compliance. Strategic Priority Areas: • Food safety governance & institutional coordination • End-to-end food chain controls & risk management • Legislative frameworks & enhanced standards • Surveillance, laboratory capacity & risk analysis • Stakeholder communication, education & capacity building • Monitoring & evaluation mechanisms Economic Impact: The framework aims to bolster consumer confidence, boost competitiveness in agriculture and agrifood exports, lower food losses, and expand growth opportunities in international trade and tourism.

Agriculture, Plantations & Fisheries
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🚨 Border Delays Act as Domestic Non-Tariff Barriers for Sri Lanka's Exports

• Overview: Domestic border delays, excess documentation, and inefficient clearance procedures are creating hidden costs for exporters, threatening the global competitiveness of Sri Lanka's apparel & textiles, tea, and other key sectors. • Competitor Gap: Sri Lanka's UN Digital and Sustainable Trade Facilitation Survey index rose from 43.01% (2015) to 63.44% (2025). However, key regional competitors outpace Sri Lanka significantly in 2025: • India: 93.55% • Malaysia: 90.32% • Thailand: 88.17% • Vietnam: 77.42% • Key Issues Identified: • Redundant paper submissions across multiple state bodies despite digital steps like Customs' pilot paperless CusDec program. • Incomplete operationalization of pre-arrival processing, risk management, and Authorised Economic Operator (AEO) systems. • Infrastructure bottlenecks, physical examination delays, and lack of advance notice for new regulatory changes. • Proposed Solutions & Roadmap: • Next 6–12 Months: Deploy a public clearance time dashboard, scale pre-arrival processing, simplify AEO enrollment, and enforce single-submission documentation. • By 2027: Fully realize OneTRADE/TNSW benefits by redesigning workflows across 18 connected institutions. • By 2030: Leverage the single window to establish cross-border electronic document exchanges and mutual AEO recognition with global trading partners.

Apparel & Textiles
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📈 Sri Lanka Plans Major 2027 Expansion for E-Procurement Platform Promise.lk as Deals Near Rs. 42 Bn

Sri Lanka’s Ministry of Finance, Planning and Economic Development has outlined major expansion plans for 2027 to widen the scope of its electronic Government Procurement (e-GP) system, Promise.lk. The platform currently manages public spending primarily for shopping-method goods procurements but will expand to cover national and international competitive bidding for goods, works, consulting, and non-consulting services. Advanced features like reverse auctions and e-catalogues are also planned. • Overall Growth & Figures: - Cumulative Value: 80,390 e-procurements conducted since 2020 totaling Rs. 41.94 Bn. - Rapid Adoption: Volume rose from 2,812 (2023) to 18,149 (2024), reaching 31,099 in 2025. - 2026 Performance (Jan–Jul): 25,294 procurements conducted valued at Rs. 13.26 Bn (approx. 87% of total 2025 procurement value). • Active Entities: - 324 active procuring entities currently on board, including 19 of 25 Cabinet Ministries and 143 departments. - 90% of General Treasury departments conduct routine procurement via the platform, where shopping-method goods procurement is mandatory. • Supplier Support & Thresholds: - Fee Waiver: Vendor registration fees will be waived from September 2026 to expand the registered supplier base and enhance competition. - Procurement Ceilings: Ministry limits stand at Rs. 25 Mn (government-funded) and Rs. 35 Mn (foreign-funded). Department/Project limits are Rs. 20 Mn and Rs. 30 Mn respectively.

Economy-wide / Cross-sector
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🚦 Cabinet Approves Completion of Access Roads to Homagama Tech City

The Cabinet of Ministers has approved domestic funding to complete two unfinished road links designed to enhance direct access to the Homagama-Pitipana Mahenawatta Tech City and ease regional traffic congestion. • Overall Project Details: • The project will complete a remaining 50-metre stretch of the Western bypass (Homagama Walawwatte to Kotuwana) to link directly with the High Level Road. • Works include finishing approximately 650 metres of an access road connecting the Tech City (Pitipana–Dampe Road) to the Kottawa–Talagala Road, running between the University of Sri Lanka and the Sri Lanka Institute of Biotechnology. • Economic & Sector Impact: • Aims to remove critical connectivity bottlenecks to strengthen national technology-driven development, innovation, and knowledge-based industries. • Improves overall road infrastructure and traffic flow across the Homagama, Pitipana, and Kottawa areas to support regional commerce. • Implementation: • Proposed by Transport, Highways, and Urban Development Minister Bimal Rathnayake. • Funded entirely through domestic allocations to finalize works stalled since construction originally began in 2020.

Transport, Logistics & Infrastructure
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🇱🇰 Cabinet Clears Agreement to Host BIMSTEC Technology Transfer Facility

The Cabinet of Ministers has approved a key agreement with the BIMSTEC Secretariat to establish the regional BIMSTEC Technology Transfer Facility in Sri Lanka. • Key Objective: Deepen regional cooperation, improve productivity, and enhance competitiveness by facilitating technology transfer and managing intellectual property rights. • Target Sector: Designed to strengthen technical capacity for micro, small, and medium-sized enterprises (MSMEs) across all seven BIMSTEC member states. • National Context: Positioned to drive innovation and support regional economic integration by providing a platform to share expertise and advanced technologies. • Background & Progress: First agreed upon at the 2008 Summit in New Delhi, the primary establishment agreement was signed at the 5th Summit in Colombo in March 2022. The latest Cabinet approval authorizes the final operational and management agreement to set up the host facility in Sri Lanka.

Technology & Digital Services
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Cabinet Approves Parliamentary Submission for 68 Port City Entities 🏛️

• Overview: Sri Lanka’s Cabinet of Ministers approved submitting gazetted regulations to Parliament designating 68 entities in the Colombo Port City as Secondary Businesses of Strategic Importance. • Legal & Regulatory Framework: The proposal falls under the Colombo Port City Economic Commission Act No. 11 of 2021. Initial Cabinet approval was granted on March 30, 2026, followed by Extraordinary Gazette publication on April 10, 2026. • Sector Breakdown: The 68 designated entities cover ICT/BPM (information technology & business process outsourcing), consulting services, logistics, infrastructure, hybrid/combined business models, and public enterprises. • Strategic Focus: Minister Nalinda Jayatissa stated the objective is to build a transparent, functional, and investment-friendly framework while removing existing bottlenecks to attract foreign capital.

Economy-wide / Cross-sector
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⚖️ TISL Challenges Proposed Anti-Corruption Amendments in Supreme Court

Transparency International Sri Lanka (TISL) has filed a Supreme Court petition challenging the government's proposed amendments to the Anti-Corruption Act, citing constitutional violations and policy regressions. • Core Legislation: Prime Minister Harini Amarasuriya presented the bill on August 19, 2026, aiming to address operational bottlenecks, meet IMF requirements, and align with UN anti-corruption standards. • Proposed Strict Penalties: The bill introduces mandatory secondary fines up to 3x the value of corruptly acquired property/state losses and revokes unlawful non-monetary perks upon conviction. • Key Legal & Policy Concerns Raised by TISL: • Prosecutorial Oversight: Empowers the CIABOC Director-General to grant immunity to accomplices without requiring Magistrate authorization, eliminating judicial checks. • Asset Declarations Threshold: Raises the state-linked company shareholding threshold from 25% to 50% for mandatory asset disclosures, conflicting with the RTI Act. • Asset Hiding Loopholes: Repeals mandatory asset declarations for non-dependent household cohabitants, creating avenues to conceal illicit wealth. • Redaction & Civic Restrictions: Grants broad power to redact asset disclosures and criminalizes the public use of redacted disclosures (penalties up to LKR 100,000 fine and/or 1-year imprisonment), threatening investigative journalism and civic space. • Constitutional Demand: TISL states the contested clauses require a two-thirds parliamentary majority and a public referendum to become law.

Economy-wide / Cross-sector
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🤝 Cabinet Approves Sri Lanka-South Korea Legal Assistance Pact ⚖️

• Key Decision: Sri Lanka’s Cabinet of Ministers approved a proposal to sign a Mutual Legal Assistance agreement in criminal matters with South Korea. • Scope & Objectives: - Enables mutual cooperation to gather evidence, serve judicial documents, and exchange information cross-border. - Aims to enhance cross-border investigations and prosecution of criminal offenses. • Background: The framework for this agreement was initially proposed in 2023 but had remained unsigned until this approval.

Economy-wide / Cross-sector
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Sri Lanka Approves Immigration Pact with China to Boost Travel & Security 📈

• Key Highlights: Sri Lanka’s cabinet has approved a bilateral immigration control agreement between the Department of Immigration and Emigration and China's National Immigration Administration to improve border management, institutional coordination, and intelligence sharing. • Sector Impact: The pact aims to streamline visa processes and facilitate legitimate movement for individuals engaged in tourism, investment, and foreign trade, while strengthening measures against organized crime and human trafficking. • Institutional Support: The agreement supports institutional head visits and specialized training workshops to upskill local immigration officers. The draft was cleared by the Attorney General and the Ministry of Foreign Affairs, Foreign Employment and Tourism. • Official Clarification: Government spokesperson Minister Nalinda Jayatissa clarified that the deal is a long-planned broader security initiative, dismissing links to recent arrests of foreign nationals or tourist-visa holders involved in cybercrimes.

Economy-wide / Cross-sector
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⚖️ Supreme Court Begins Hearing on Proposed 22nd Amendment

• Overview: The Supreme Court of Sri Lanka starts hearing petitions today challenging the constitutionality of the government’s proposed 22nd Amendment (22A) to the Constitution. • Judicial Bench Composition: The case is under scrutiny by a five-member Supreme Court bench: - Chief Justice Preethi Padman Surasena (Bench Head) - Justice Achala Wengappuli - Justice Arjuna Obeysekera - Justice Sampath Abeykoon - Justice Gihan Kulatunga • Key Contests & Objections: - The proposed amendment focuses on extending the retirement age of higher-court judges. - Certain petitioners have requested the Chief Justice to recuse himself from the bench, while others have called for a full-bench hearing.

Professional & Business Services
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⚖️ Sri Lanka's Proposed 22nd Amendment: Reform vs. Judicial Independence Debate

The Government of Sri Lanka has introduced reforms under the proposed 22nd Amendment to the Constitution aimed at modernizing the judiciary, clearing massive case backlogs, and boosting system efficiency. • Key System Challenges & Context • Sri Lanka currently faces over 1.1 million pending court cases. • Historical political interference and institutional issues have long impacted governance and rule of law. • Historical corruption, political misuse of public funds, and weak judicial independence metrics highlight the urgent need for institutional integrity. • Key Proposed Judicial Reforms • Retirement Age Extension: Supreme Court judges extended from 65 to 67 years; Court of Appeal judges from 63 to 65 years; High Court judges from 61 to 63 years; other judges/magistrates set at 62. • Bench & Infrastructure Expansion: Expands Court of Appeal judges from 19 to 24, expands legal infrastructure to rural regions, and increases prison capacity. • Constitutional Oversight: Restructures the Constitutional Council to supervise independent commissions (e.g., Police, Audit, Human Rights). • Modernization & Tech: Retains experienced senior judges to accelerate adoption of AI and digital systems to streamline court backlogs and enhance efficiency. • Debate & Opposition Arguments • Opposition parties and the Bar Association of Sri Lanka (BASL) oppose extending judicial tenures, claiming it could compromise judicial independence. • Proponents argue the amendment provides a holistic, multidisciplinary approach that combines tenure extensions, digital transformation, and structural checks to clear backlogs efficiently.

Professional & Business Services
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🌿 World Bank Backs US$ 1 Mn Groundwork for Sri Lanka's Nature-Tourism Sector

Sri Lanka’s Cabinet has approved a US$ 1 Mn grant from the World Bank's Grant Facility for Project Preparation (GFPP) to fund 18 months of groundwork for a major nature-based tourism initiative. • Strategic Focus: The grant funds project preparation for the Tourism for Heritage Resilience Inclusion and Value-driven Employment (THRIVE) – Nature project, submitted by Environment Minister Dr. Dammika Patabendi. • Core Objective: Address the country's weak tourism revenue growth relative to rising visitor arrivals by shifting focus from sheer volume to high-value, quality experiences. • Key Interventions: Combines habitat restoration and conservation with tourism infrastructure upgrades across national parks, forests, and wetlands. • Synergy: Expands and strengthens existing programs under the World Bank-funded Ecosystem Conservation and Management Project to ensure long-term environmental sustainability alongside economic growth.

Tourism, Hospitality & Leisure
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Market News

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🛢️ Global Oil Prices Surge Amid US-Iran Escalation: Impact on Fuel Costs

Oil prices extended gains on Wednesday due to escalating Middle East tensions following fresh overnight strikes between the US and Iran, raising supply disruption concerns along critical maritime routes like the Strait of Hormuz. • Global Benchmark Prices: Brent crude rose 0.8% (+75 cents) to US$ 95.40 per barrel, while US WTI crude gained 0.5% (+44 cents) to US$ 90.66 per barrel, following a US$ 4+ surge in the previous session. • Supply Route Disruptions: Increased threats around the Strait of Hormuz—a transit point for nearly 20% of global oil consumption—have heightened risk premiums and elevated international shipping hazards. • US Inventory Levels: US crude inventories dropped by 2.6 million barrels for the week ended August 28, with distillate stocks falling by 265,000 barrels, further tightening global supply. • Macro Economic Impact: Rising global crude prices present inflationary pressures for net oil-importing economies like Sri Lanka, impacting national import bills, energy costs, and production expenses across core sectors like manufacturing, transportation, and domestic fuel pricing.

Energy & Utilities
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📈 Foreign Investors Buy Over US$ 24 Mn in Sri Lanka Rupee Bonds

• Overall Bond Inflows: Net foreign buying of government securities reached LKR 8.06 Bn (US$ 24.8 Mn) for the week ending August 28. • Cumulative Foreign Holding: Total foreign holdings rose to LKR 210.6 Bn (US$ 271.1 Mn), marking 11 consecutive weeks of net foreign buying since June 19 (LKR 89.3 Bn total in this period). Year-to-date inflows stand at LKR 69.3 Bn compared to LKR 71.5 Bn in 2025. • Currency & Economic Context: Inflows followed stabilization in the local currency. The rupee recovered to around 332 against the US dollar after reaching a low of 354 on May 21, reflecting a 5.7% depreciation year-to-date. • Policy & Market Dynamics: Demand was supported by prior deflationary policies, though recent inflationary pressures prompted a 100 bps policy rate hike in May. Inflation risks stem from global Middle East tensions and earlier fuel price increases, despite recent fuel price cuts in June and August.

Capital Markets & Investment
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📈 Sri Lanka Bond Yields Continue Slide Amid Robust Demand; Rs. 80 Bn T-Bill Auction in Focus

• Secondary Bond Market Overview: Yields extended lower for a second consecutive session across key tenors, supported by robust activity and sizable block transactions. Demand was heavily concentrated on the belly end (2028-2030 tenors) and 2032 tenors, with 2032 maturities reaching intraday lows of 10.90%–10.95%. • Selected Tenor Yield Rates: • 2028s: Traded between 10.00% and 10.10%. • 2030s: Traded between 10.35% and 10.48%. • 2032s: Traded down to 10.90%–10.95% (from 11.00% opens). • 2033–2036s: Ranged from 11.10% up to 11.75% (15.08.36). • Upcoming & Recap T-Bill Auctions: • Today's Auction: Rs. 80.00 Bn on offer (91-day: Rs. 35 Bn, 182-day: Rs. 25 Bn, 364-day: Rs. 20 Bn) against Rs. 85.97 Bn maturing. • Last Week's Result: Yields fell for a 7th straight week. 91-day dropped 16 bps to 9.06%, 182-day dropped 16 bps to 9.44%, and 364-day eased 2 bps to 9.89%. Total raised was Rs. 132.00 Bn amid 2.86x oversubscription. • Money & Forex Markets: • Liquidity: Net surplus stood at Rs. 138.76 Bn. SDF deposits were Rs. 101.83 Bn (8.25%) and SLF borrowings were Rs. 4.07 Bn (9.25%). Call money averaged 8.85%. • Forex: Spot USD/LKR closed slightly stronger at Rs. 328.00/328.10 (vs. previous Rs. 328.10/328.30). Traded volume reached US$ 52.00 Mn (31 Aug).

Capital Markets & Investment
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📉 CSE Starts September in Red Amid Middle East Tensions

The Colombo Stock Exchange began the month on a cautious note with selling pressure pulling indices down, influenced by rising global oil prices and Middle East tensions. • Market Indices & Overview: • ASPI: Down 0.10% (-20.38 pts) to close at 21,318.31 • S&P SL20: Down 0.39% (-23.23 pts) to close at 5,986.45 • Total Turnover: Rs. 2.3+ Bn (97.4M+ shares traded) • Foreign Flow: Net outflow of Rs. 612.5 Mn • Sector Performance & Turnover: • Capital Goods: Led turnover (31%); sector index fell 0.88%, dragged down by John Keells Holdings (down Rs. 0.40 to Rs. 19.50) • Food, Beverage & Tobacco: Contributed alongside Diversified Financials (combined 33%); sector index gained 1.26%, supported by Ceylon Cold Stores (up Rs. 1.50 to Rs. 121.75) • Investor Activity & Stock Movers: • Top negative index contributors: JKH, BREW, DFCC, DIAL, and MELS • High Net Worth & institutional interest seen in John Keells Holdings, Watawala Plantations, and Sampath Bank • Retail interest focused on HVA Foods, Renuka Agri Foods, and Exterminators

Capital Markets & Investment
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CSE Closes Marginally Lower as ASPI Dips 0.08% 📉

• Market Performance: Benchmark All Share Price Index (ASPI) fell 0.08% (-16.47 points) to 21,322.22, while the S&P SL20 dropped 0.34% (-20.36 points) to close at 5,989.32. Total turnover reached Rs 2.32 Bn. • Sector & Stock Movements: The Food, Beverage & Tobacco sector led market turnover with Rs 400.53 Mn. Positive drivers included Browns Investments (+7.55%), Singer Sri Lanka (+2.78%), Vallibel One (+2.03%), Ceylon Cold Stores (+1.25%), and Access Engineering (+0.94%). Dragging indices down were John Keells Holdings (-2.01%), DFCC Bank (-1.76%), Aitken Spence (-1.41%), and Dialog Axiata (-0.86%). • Corporate Highlights: Kapruka Holdings shares gained 1.07% to close at Rs 18.90 following plans to reallocate Rs 50 Mn of unutilized IPO funds to working capital. Management deemed its original plan for a personal cargo marketplace non-viable, with reallocation subject to AGM shareholder approval.

Capital Markets & Investment
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📈 Sri Lanka Rupee Gains to 328.00/10 Spot; Bond Yields Broadly Steady

• Exchange Rate Movement: • Rupee strengthened to 328.00/10 per US dollar in the spot market, improving from 328.10/30 in the previous session. • Treasury Bond Market Yields: • 15.09.2027: Yield rose to 9.55/70% (up from 9.45/55%). • 15.02.2028: Yield rose to 9.95/10.00% (up from 9.90/10.00%). • 15.12.2029: Yield closed flat at 10.25/30%. • 01.08.2030: Yield eased to 10.42/44% (down from 10.45/50%). • 15.12.2032: Yield eased to 10.90/95% (down from 11.00/10%). • 15.01.2033: Quoted at 11.08/15%. • 15.10.2034: Quoted at 11.40/50%. • 15.08.2036: Yield eased slightly to 11.75/78% (down from 11.75/80%). • 01.07.2037: Yield eased to 11.75/85% (down from 11.80/92%).

Capital Markets & Investment
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Sri Lanka Raises Extra Rs5 Bn via Tap Bond Sales 📈

• Weekly Debt Issuance Total: Sri Lanka sold Rs 5,000 Mn in additional Treasury bonds on tap following last week's auction, bringing total bond sales for the week to Rs 55 Bn against an initial Rs 50 Bn offering. • Maturity & Yield Breakdown: • 2030 Bond (LKB00530H016): Matures Aug 1, 2030; sold at a weighted average yield of 10.54%. • 2035 Bond (LKB02035C155): Matures Mar 15, 2035; sold at a weighted average yield of 11.70%. • Market Subscription: Total market demand for the tap issue reached Rs 1,450 Mn, following the primary sale of Rs 50 Bn in 2030 and 2035 sovereign debt securities last Tuesday.

Capital Markets & Investment
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Sri Lanka Rupee Gains, Bond Yields Ease & Stocks Rise 📈

• Foreign Exchange Market: The Sri Lankan rupee strengthened to 327.90/328.05 against the US dollar in the spot market, up from 328.10/30 on Monday. • Telegraphic transfer (TT) rates: - US Dollar: Rs. 323.70 buying / Rs. 332.70 selling - Euro: Rs. 373.42 buying / Rs. 387.20 selling - British Pound: Rs. 437.51 buying / Rs. 451.61 selling • Government Securities: Bond yields softened across several tenors, with notable easing on the belly end of actively quoted maturities: - 15.12.2029: 10.25/35% (vs 10.25/30%) - 01.08.2030: 10.45/50% (flat) - 15.10.2030: 10.50/53% (down from 10.52/55%) - 15.12.2032: 10.98/11.00% (down from 11.00/10%) - 15.08.2036: 11.75/80% (flat) • Equity Market: The Colombo Stock Exchange recorded positive momentum: - ASPI: Up +0.23% (+50.05 points) to 21,388.74 - S&P SL20: Up +0.09% (+5.51 points) to 6,015.19

Capital Markets & Investment
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📈 Sri Lanka Stocks Start September High as ASPI Nears 21,400

The Colombo Stock Exchange (CSE) opened September on a positive note on Tuesday morning, driven by gains in main indices. • Overall Market Indices: • ASPI rose 0.23% (+48.30 pts) to 21,386.99. • S&P SL20 increased 0.07% (+4.00 pts) to 6,013.68. • Total market turnover stood at Rs. 77.3 Mn. • Sector & Stock Performance: • Capital Goods led turnover, generating Rs. 34.75 Mn. • Top Gainers: Richard Pieris (+3.08% to Rs. 26.80), Colombo Dockyard (+2.49% to Rs. 123.50), Hatton National Bank (+1.18% to Rs. 384.75), and Dialog Axiata (+1.08% to Rs. 46.90). • Top Losers: Kelani Tyres (-8.49% to Rs. 85.10), Renuka Holdings (-6.84% to Rs. 42.20), DFCC Bank (-0.78% to Rs. 127.00), and John Keells Holdings (-0.50% to Rs. 19.80). • Corporate News: • Renuka Holdings announced a proposed first and final scrip dividend of Rs. 0.212 per voting and non-voting share for FY2026, subject to AGM approval on September 24, 2026.

Capital Markets & Investment
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📈 CSE Snaps Three-Month Losing Streak in August

The Colombo Stock Exchange (CSE) returned to positive territory in August, posting its first monthly gains for both benchmark indices since April. • Monthly Performance: • ASPI: Gained 0.99% in August, reversing part of July's 5.09% decline. • S&P SL20: Rose 1.17% in August, recovering from a 4.27% drop in July. • Year-to-Date (YTD) Trends: • ASPI: Down 5.68% YTD. • S&P SL20: Down 2.40% YTD. • Market Context: • Rebound follows a weak May–July stretch for the ASPI and choppy movement for the S&P SL20. • August's modest recovery contrasts with late 2025, which saw six consecutive monthly gains from July through December.

Capital Markets & Investment
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CSE Corporate Earnings Surge 10% YoY to Rs. 168.3 Bn in 2Q 📈

• Overall Figures: CSE-listed corporate earnings reached Rs. 168.3 Bn in 2Q2026, marking a 10% YoY growth despite a 10% QoQ drop from Rs. 186.6 Bn. Cumulative 1H2026 earnings rose 8% YoY to Rs. 354.9 Bn, while trailing 12-month earnings stood at Rs. 707.7 Bn (down 9% YoY). • Sector Breakdown: • Banks: Led overall performance with Rs. 62.37 Bn (+28% YoY, +32% QoQ), generating 37.1% of quarterly market profits. • Food, Beverage & Tobacco: Earned Rs. 34.78 Bn (flat YoY, +122% QoQ), contributing 20.7%. • Diversified Financials: Reported Rs. 21.58 Bn (-35% YoY, -39% QoQ), accounting for 12.8%. • Telecommunication Services: Surged 86% YoY to Rs. 13.65 Bn (8.1% share). • Capital Goods: Skyrocketed 233% YoY to Rs. 9.96 Bn (-69% QoQ). • Retailing: More than doubled, up 127% YoY to Rs. 4.5 Bn. • Energy & Insurance: Experienced declines of 53% (Rs. 949 Mn) and 27% (Rs. 3.37 Bn), respectively. • Top Counters: The top 10 counters generated ~56% of total quarterly profits. Commercial Bank led with Rs. 17.21 Bn (+8% YoY), followed by Hatton National Bank (Rs. 11.77 Bn), Sampath Bank (Rs. 11.03 Bn, +65%), Nations Trust Bank (Rs. 10.99 Bn, +133%), and Dialog (Rs. 10.11 Bn, +100%). _Note: Softlogic Stockbrokers research covers ~273 counters; results are based on provisional unadjusted data and include potential non-recurring one-off gains._

Capital Markets & Investment
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📈 Bond Market Starts Week Strong as Long-End Yields Drop; August CCPI Inflation Rises to 8%

• Market & Yield Curve Movement The secondary bond market opened the week on a positive note with yields lower across selected tenors while the overall curve consolidated. Yields on the long end declined, supported by robust volumes and sizable block trades. Key trading ranges included: - 15.12.28 at 10.10% | 15.12.29 at 10.30% - 01.08.30 (10.50%-10.46%) | 15.10.30 (10.55%-10.50%) - 01.02.31 at 10.60% | 15.01.33 at 11.20% | 01.11.33 (11.30%-11.35%) - 15.10.34 (11.50%-11.45%) | 15.08.36 (11.78%) | 01.07.37 (11.82%) • Macro & Inflation Trends Headline inflation (CCPI) accelerated to 8% YoY in August 2026, up from 7.3% in July, pointing to persistent price pressures impacting national cost-of-living dynamics. • Liquidity & Central Bank Operations - Net liquidity surplus stood at Rs. 132.33 Bn. - Rs. 82.77 Bn deposited at Central Bank's SDFR (8.25%); Rs. 0.44 Bn drawn via SLFR (9.25%). - CBSL Domestic Operations Dept. absorbed Rs. 70 Bn via Repo auctions: Rs. 40 Bn (overnight) and Rs. 10 Bn (2-day) at 8.75% yield, plus Rs. 20 Bn (30-day) at 9.19% yield. - Weighted average yields: overnight call money at 8.85%, repos at 8.91%. • Foreign Exchange & Currency - USD/LKR spot rate closed at Rs. 328.10/328.30 (depreciating slightly from Rs. 327.98/328.04). - USD/LKR spot volume traded (28 Aug): $ 170.25 Mn.

Capital Markets & Investment
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Product & Service Launches / Business Expansions

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🛋️ Global Furniture Giant KUKA HOME Enters Sri Lankan Market

• Strategic Partnership: Global home furnishing leader KUKA HOME has officially launched its first concept showroom in Sri Lanka. The brand is represented locally by Finco Homes, the furniture retail division of Finco Holdings. • Market Impact: The expansion targets key growth in Sri Lanka's domestic retail & consumer products sector, addressing local demand for international design standards, smart living concepts, and sustainable home décor solutions. • Global Footprint: • Presence: 120+ countries with over 6,000 retail locations. • Manufacturing: Operates 14 facilities across China, Mexico, the US, and Vietnam, supported by a central design center in Milan, Italy. • Legacy: Over 40 years of operation (established in 1982) specializing in integrated design and sustainable production. • Location: Concept showroom opened at Alfred House Gardens, Colombo 03.

Retail & E-commerce
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Sri Lankan-Founded AI Platform "The Emotion AI" Joins NVIDIA Inception 📈

• Global Recognition & Regional Milestone: Founded by Gerald Sathiyasiva—the only Sri Lankan entrepreneur named among Southeast Asia’s Top 20 Rising AI Leaders in Kuala Lumpur (April 2026)—The Emotion AI has been accepted into the prestigious global NVIDIA Inception program. • Core Product & Innovation: The platform's flagship product, Viral Sense, delivers pre-launch ad ratings (0-100 scale), platform fit scores, and actionable optimizations in seconds. Its attention-prediction model correlates at ~0.70 with human eye-tracking, eliminating reliance on Western-trained global datasets or slow traditional focus groups. • Language & Regional Capabilities: The platform natively processes content in English, Sinhala, Tamil, Bahasa, and Arabic across five live markets in South Asia, Southeast Asia, and the Gulf. • Market Breakdown & Tech Integration: • Largest Market by Usage: Sri Lanka, leading ahead of Malaysia and Singapore. • NVIDIA Collaboration: Grants access to NVIDIA's developer stack, technical training, and inference tooling to accelerate video ad analytics and enhance training on localized regional data.

Technology & Digital Services
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DFCC Garusaru Expands Pensioner Financing to Rs. 12 Mn 📈

• Loan Enhancements: DFCC Bank has expanded its Garusaru Pension Loan facility, allowing eligible pensioners to access funding from Rs. 100,000 to Rs. 12 Mn with repayment tenures up to 15 years. Borrowers can choose between fixed or variable interest rates to finance medical expenses, home improvements, or personal needs. • Eligibility Criteria: • Target Groups: Government pensioners, state pension-receiving widows/widowers, Central Bank of Sri Lanka (CBSL) and Ceylon Electricity Board (CEB) pensioners, and eligible ex-military personnel. • Age Limits: Applicants must be under 74 years at application, with full loan repayment required before age 75. • Cap: Monthly instalments are capped at a maximum of 60% of net monthly pension. • Strategic Focus: Addresses long-term personal financing needs for retirees by providing manageable monthly commitments and household budget predictability.

Banking & Financial Services
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📈 Hunas Holdings Partners with Japan’s CCH Co. for Growth

Colombo-listed conglomerate Hunas Holdings PLC has entered into a strategic collaborative partnership with Tokyo-based business group CCH Co., Ltd. (CCH INC.) to explore new market opportunities in Sri Lanka. • Partnership Focus: Combines CCH’s international experience in BPO (Business Process Outsourcing), M&A, investment, and operational development with Hunas Holdings’ established local platform and market presence. • Strategic Context: Follows a period of measured investment by Hunas Holdings aimed at securing international alliances that deliver sustainable, long-term value. • Investor Confidence: CCH, founded in Japan in 2008, brings operational expertise to drive expansion, signaling strong foreign investor confidence in Sri Lanka’s long-term growth potential.

Manufacturing & Industrials
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SL Cabinet Approves Sugarcane Pact with Brazil 📈

• Agreement Framework: Cabinet approved a proposal to sign a Complementary Adjustment Agreement with Brazil to execute a dedicated sugarcane project. • Legal Basis: The initiative operates under the basic Technical Cooperation Agreement signed between Sri Lanka and Brazil on September 16, 2008, which mandates separate complementary coordination agreements for specific execution. • Implementation Partners: Builds on a May Cabinet approval involving: • Brazilian Cooperation Agency • Federal University of São Carlos • Sri Lanka’s Ministry of Industries and Entrepreneurship Development • Sugarcane Research Institute

Agriculture, Plantations & Fisheries
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🌱 ABC Trade & Investments Partners with ACEF for Sri Lanka's Green Infrastructure

• Strategic MoU Signed: ABC Trade & Investments (Pvt) Ltd has partnered with the All-China Environment Federation (ACEF) to accelerate local clean-energy, water management, and environmental protection projects. • Core Scope & Priority Areas: The collaboration focuses on channelizing Chinese technology, engineering expertise, and capital into: • Integrated urban and rural water supply & sewage treatment. • Industrial park wastewater management & village drinking water purification. • Distributed renewable energy installations linked with water infrastructure. • Capacity & Technology Transfer: The framework prioritizes long-term technology transfer, local adaptability, technical capacity building, and commercial matching with Chinese EPC (Engineering, Procurement, and Construction) enterprises. • Execution Capabilities: Combines ACEF’s vast network of environmental and engineering firms with ABC’s local market insight and nationwide operational strength via its Water Science Division. Individual projects will be evaluated and contracted independently.

Energy & Utilities
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🛒 LAUGFS Supermarkets Expands Footprint with 45th Outlet in Ekala

• Retail Network Expansion: LAUGFS Supermarkets has opened its 45th outlet in Ekala, Ja-Ela (No. 131, Minuwangoda Road), reinforcing its islandwide retail footprint in Sri Lanka's growing supermarket & retail sector. • Operational Details: The new location operates 24/7, offering standard retail goods along with fresh bakery and hot food offerings. • Strategic Location: Situated near key residential developments (Niwasipura and Millennium City) and a major industrial zone to cater to high-density residential and commuter demand. • Corporate Context: Group leadership highlighted the expansion as part of ongoing strategic investments to enhance customer convenience, accessibility, and quality retail access across Sri Lanka.

Retail & E-commerce
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Hayleys Fentons Delivers >LKR 1 Bn Manufacturing Facility for Shield Restraint Systems 📈

• Project Overview: The project arm of Hayleys Fentons Limited completed construction of a technical manufacturing facility for Shield Restraint Systems (Pvt) Ltd at the Wathupitiwala Export Processing Zone. • Investment & Timeline: Valued at over LKR 1 Bn, the project was delivered on schedule in 14 months, moving from foundation stone (Jan 7, 2025) to final completion. • Economic & Industry Impact: The high-precision facility will produce safety restraints for the global market, expanding foreign direct investment (FDI) and embedding Sri Lanka within the automotive supply chain.

Construction & Real Estate
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Toyota Lanka Expands Footprint in Kurunegala 📈

Toyota Lanka Ltd. marked a major milestone in its expansion strategy with the opening of a new Body & Paint Center and the groundbreaking of a general service facility in Kurunegala. • Network Expansion Goals: The new additions align with Toyota Lanka's broader strategic roadmap to establish 30 facilities across Sri Lanka by the end of 2026. • After-Sales Capabilities & Track Record: • Completed over 3 million vehicle services across Sri Lanka. • Distributed over Rs. 200 Bn in genuine spare parts nationwide. • Delivered over 300,000 body and paint repair services to date. • Community & National Development: Beyond mobility, the company actively collaborates with the Ministry of Education to support technical skills development among young Sri Lankans, driving local workforce capabilities.

Manufacturing & Industrials
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Seylan Bank Empowers Southern Farmers via SME Scale-Up Program 🌾

• Program Overview: Seylan Bank conducted an SME Scale-Up Program at Hotel Niwahana in Tissamaharama, bringing together nearly 200 farmers from across the Southern Province. The initiative focused on financial management, business upscaling, productivity improvement, and adopting digital banking solutions. • Key Concessionary Financing Schemes: - Seylan Athwela (FSSP): Offers up to Rs. 5 Mn in funding at a 5% annual concessionary interest rate for modernizing agriculture operations. - National Credit Relief and Credit Support (NCRCS): Provides 6% annual interest financing for target crops including paddy, maize, vegetables, and potatoes. • Economic Context: The initiative aims to strengthen agriculture & agribusiness SMEs, enhancing rural livelihoods, business efficiency, and sustainable economic growth.

Banking & Financial Services
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🤟 Sri Lanka’s First Deaf Tourism Export: Ceylon Deaf Adventures Signs Global Pact

Negombo-based inclusive travel enterprise Ceylon Deaf Adventures (CDA) has signed a groundbreaking Memorandum of Understanding with Germany’s DeafVentures, marking Sri Lanka's first formal cross-border Deaf tourism partnership. Key details of the milestone: • First-Mover Advantage: Born out of Negombo's Lilly Palace Villa—a homestay that has served 1,000+ guests from over 15 countries since 2017—CDA is currently the only dedicated inbound Deaf tourism operator in South Asia. • Strategic Market Expansion: The MOU creates a structured framework to jointly develop, market, and operate sign-language guided travel packages, tapping directly into Germany as a key source market. • Niche Economic Impact: Unlocks an unaddressed global travel segment with high loyalty, converting accessibility into a competitive, revenue-generating niche tourism export for Sri Lanka.

Tourism, Hospitality & Leisure
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Cabinet Clears Rs. 1.24 Bn BIA Travel Counter Contracts 📈

• Overall Deal: The Cabinet approved awarding contracts worth over Rs. 1.24 Bn to operate six tourist service counters at the Bandaranaike International Airport (BIA) arrival lobby in Katunayake for a three-year period. • Procurement: Initiated by Airport and Aviation Services (Sri Lanka) Ltd. via a National Competitive Bidding Procedure, attracting 19 bids total. • Contract Breakdown: • Casons Travels Ltd.: Rs. 251.03 Mn • Explore Vacations and Travels Ltd.: Rs. 234.73 Mn • JNW Lanka Tours: Rs. 209.67 Mn • Avawia Tours Ltd.: Rs. 189.66 Mn • Ceylon Arrivals Ltd.: Rs. 183.60 Mn • Ayubowan Tours and Travels Ltd.: Rs. 171.53 Mn • Economic Context: Aimed at delivering essential services to incoming travelers, boosting visitor experience, and supporting national tourism revenue.

Tourism, Hospitality & Leisure
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Sustainability, ESG & Corporate Responsibility

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

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

Food, Beverage & Consumer Goods
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📈 Link Natural & Sri Dalada Maligawa Launch Health Initiative for Kandy Esala Perahera Performers

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

Healthcare & Pharmaceuticals
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📈 Parliamentary Roundtable Advances Talks on Financing Sri Lanka's Care Economy

• Key Challenge & Economic Impact: Unpaid care responsibilities exclude nearly 75% of working-age women from Sri Lanka's labor force. According to the ILO, every $ 1 invested in the local care sector generates a return of US$ 7.76, making care economy investment a key economic growth driver. • High-Level Initiative: The Women's Parliamentary Caucus (WPC) and Westminster Foundation for Democracy (WFD) convened Prime Minister Dr. Harini Amarasuriya, Speaker Dr. Jagath Wickramaratne, and Minister Saroja Paulraj to embed gender-responsive budgeting into national fiscal allocations. • Strategic Focus Areas: • Direct investment in care infrastructure, early childhood development, eldercare, and social protection mechanisms. • Legislative reforms for workplace protections and fair work standards. • Integration of the care economy into national economic policy and accounting framework. • Civil Society & Policy Recommendations: Fund regular time-use surveys to quantify unpaid care, institutionalize funding for assistive devices, launch pilot after-school programs for low-income schools, and scale up nationwide eldercare center pilots.

Economy-wide / Cross-sector
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Industry & Sector News

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SLTDA Launches National Tourism Skilling Program to Elevate Standards 📈

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

Tourism, Hospitality & Leisure
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Mannar Gas Basin: Transforming Sri Lanka’s Economic Future 📈

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

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

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

Tourism, Hospitality & Leisure
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📉 Sri Lanka Tourism Arrivals Down 3.3% in August Despite Esala Perahera Boost

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

Tourism, Hospitality & Leisure
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Sri Lanka to Host Regional SEARIC Summit 2026 📈

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

Tourism, Hospitality & Leisure
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Sri Lanka Retail Forum 2026 Set to Drive Tech-Led Business Transformation 📈

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

Retail & E-commerce
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📈 GovPay Crosses Rs. 5 Bn Digital Payment Milestone

• Overall Figures: Total transactions processed through GovPay have officially surpassed Rs. 5 Bn. • System Adoption: Over 300 government institutions are now integrated into the platform, expanding digital revenue collection. • Strategic Context: Highlighted by the Digital Economy Ministry, the milestone reflects growing public adoption of digital payments as Sri Lanka advances its public sector digitisation and ICT/BPM integration.

Banking & Financial Services
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⛽ CPC Slashes Petrol Prices by Up to Rs. 20/Ltr

The Ceylon Petroleum Corporation (CPC) announced a reduction in petrol prices effective midnight on 30 August, leaving diesel and kerosene rates unchanged. This move directly impacts the energy & transport sector, easing operational costs for small businesses and everyday consumers. • Petrol Price Reductions: - Petrol 92: Down by Rs. 15 (-3.6%) to Rs. 399/litre (from Rs. 414). - Petrol 95: Down by Rs. 20 (-4.0%) to Rs. 475/litre (from Rs. 495). • Unchanged Fuel Rates: - Auto Diesel: Maintained at Rs. 382/litre. - Super Diesel: Maintained at Rs. 478/litre. - Kerosene: Maintained at Rs. 285/litre.

Energy & Utilities
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Sri Lanka’s Global Tourism Campaign Faces Further One-Year Delay 📈

• Campaign Timeline Delay: Launch of Sri Lanka's tourism global marketing campaign is delayed by nearly another year beyond the proposed March 2027 plan. The government will first appoint a consultancy to develop a Global Destination Communication Campaign Roadmap prior to final campaign awarding. • Planned Budget & Interim Push: • Interim Campaign: An immediate Rs. 1.5 billion digital and PR drive running August 2026 to April 2027 across 6 key source markets. • Global Push: A main Rs. 5 billion global branding campaign originally planned from March 2027 to February 2029, now facing timeline resets. • Government Targets: • 2026 Targets: 2.7 million tourist arrivals and ~US$ 4.2 Bn in earnings. • 2027 Targets: Exceed 3 million arrivals and reach US$ 5.0 Bn in revenue. • Key Takeaways: Over 15 years without a sustained global campaign has created structural promotional gaps against global competitors. Officials state the additional consultancy ensures greater transparency without rushing execution.

Tourism, Hospitality & Leisure
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🇯🇵 Largest Privately Organized Japanese Delegation Arrives in Sri Lanka

• Key Highlights: Over 250 Japanese visitors arrived in Colombo under the “Japan Returns to Sri Lanka” campaign. This marks the largest privately organized Japanese delegation to land in the country, aimed at driving long-term growth across tourism, trade, and foreign direct investment. • Growth & Scale: Organized via the Little Japan platform, the initiative expanded significantly from a 45-member delegation in 2024 to today's 250+ visitor group, demonstrating strong private-sector momentum and rising Japanese commercial interest in Sri Lanka. • Strategic Focus: Beyond leisure, the visit targets high-value economic benefits by converting initial travel interest into concrete business, cultural exchange, and investment outcomes. • Key Stakeholders: Founded by Dr. Ruwan Perera (Chairman of Colombo International Airport Hotel), the platform operates alongside national support, highlighted by Aviation Deputy Minister Janitha Ruwan Kodithuwakku welcoming the group at BIA.

Tourism, Hospitality & Leisure
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🚨 Kaspersky Warns: APT Groups Target APAC via Fake Claude AI Apps

Kaspersky GReAT reports that SilverFox—a highly active Advanced Persistent Threat (APT) group—is targeting organisations in the APAC region by distributing fake Claude AI applications for Windows, macOS, and Linux. • Attack Mechanics & Campaign Trends • Uses phishing emails (e.g., fake tax violation notices) and malicious files on messaging apps to deploy cyberespionage malware. • Over 1,600 malicious phishing emails recorded between January and February 2026. • Employs agentic AI (e.g., JADEPUFFER ransomware executing attack cycles in 31 seconds) and indirect prompt injection techniques like ChatGPhish. • Regional Breakdown • Greater China: Main target, accounting for >90% of attacks (Mainland China at 71%). • Emerging Hotspots: Myanmar, Cambodia, and Singapore see rising threat levels. • Sector Disruption • Manufacturing: Hardest hit, comprising over 33% of total attacks. • Tech & Services: Frequently targeted via phishing aimed at ICT/BPM and tech personnel. • Healthcare & Finance: High-value targets facing critical operational risks. • Key Defense Recommendations • Shift to proactive AI threat hunting, Zero Trust architecture, and systematic endpoint coverage.

Technology & Digital Services
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🎓 EDEX Mid-Year Expo 2026 Set to Open at BMICH

Sri Lanka’s premier education and career fair, the EDEX Mid-Year Expo 2026, will take place on September 5–6 at the BMICH, Colombo, from 9:30 AM to 6:00 PM. • Event Overview & Scale: • Features ~45 educational institutions, 10 corporate entities, and direct overseas exhibitors from Finland and Japan. • Ceremonially opened by H.E. Badli Hisham Adam, High Commissioner of Malaysia to Sri Lanka and the Maldives. • Key Industry & Sector Breakdown: • Offers direct engagement with employers across healthcare, consumer goods, agriculture, aviation, cargo & freight, telecommunications, automotive, transportation, software, and banking & finance. • Directly links skill-building with national youth employment, career advancement, and global workforce participation. • New Digital Features & Initiatives: • Digitalized Psychometric Test (Career Key) allows mobile pre-assessment paired with one-on-one guidance by Ceylon Career Guidance Association (CCGA) counsellors. • Introduces EDUSPORT to integrate sports-based critical thinking with learning, alongside the EDUCAST youth podcast initiative. • Endorsements & Strategic Support: • Formally endorsed by key ministries including Education, Youth Affairs, Labor, and Environment. • Partnered with The Employers' Federation of Ceylon, Ceylon Chamber of Commerce, and CCGA.

Education & Training
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Awards & Recognitions

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

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

Retail & E-commerce
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🏆 Arctek Innovations Secures Key International Quality & Food Safety Certifications

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

Manufacturing & Industrials
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🏆 Sysco LABS Named Top Women-Friendly Workplace in 2026

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

Technology & Digital Services
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DFCC Aloka Partners with WCIC for Prathibhabhisheka Awards 2026 📈

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

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

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

Banking & Financial Services
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🎓 Harini Amarasuriya Patronizes Sarasavi Dhiriya Abhiman Scholarship Programme in Jaffna

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

Education & Training
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Samsung Recognized at Superbrands Sri Lanka’s Choice 2025 🏆

• Overview: Samsung Sri Lanka won the Superbrands Sri Lanka’s Choice 2025 accolade in the Home Appliance category, highlighting strong brand preference, consumer trust, and long-term market presence. • Core Product Portfolio: Continuous focus on consumer electronics and home solutions—including televisions, refrigerators, washing machines, air conditioners, and connected smart home devices. • Tech & Reliability Standards: • Integrates SmartThings for connected ecosystem automation and remote device management. • Offers a 10-year warranty on Digital Inverter Motors and Compressors to assure long-term product durability. • Leverages global TV leadership (retaining the No. 1 global TV position for 20 consecutive years) with Crystal UHD, Neo QLED, and The Frame lineups. • Distribution & Market Reach: Strengthens island-wide retail accessibility and after-sales support through major Sri Lankan partners like Singer, Singhagiri, Damro, and Softlogic, combined with flexible bank payment plans.

Food, Beverage & Consumer Goods
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🏆 Applications Open for 34th NCE Export Awards 2026

The National Chamber of Exporters of Sri Lanka (NCE) has officially invited eligible Sri Lankan exporters to apply for the prestigious 34th NCE Export Awards 2026. • Key Highlights & Deadlines • Application Deadline: 30 September 2026. • Awards Ceremony: 11 December 2026. • Guidance: NCE is currently hosting briefing sessions to assist applicants with evaluation criteria and submission requirements. • Application Portal: Available for download via www.nce.lk. 📈 National & Global Strategic Value • Brand Credibility: Winners earn the right to display the official winner's logo on corporate communications, email signatures, and product packaging to build trust with local and foreign buyers. • International Reach: Recognised status enhances visibility, acts as a point of distinction, and strengthens representation at international trade exhibitions. • Internal Motivation: Provides management a platform to benchmark performance against global standards while boosting employee morale. • Macro Economic Context • Sri Lanka’s total export earnings crossed the US$ 10.4 Bn milestone in H1 2026. • Recorded a robust growth of +3.3% YoY during the first six months. • Reflects resilient growth across key driving sectors such as apparel & textiles, tea, and ICT/BPM, strengthening national competitiveness and employment in global trade.

Professional & Business Services
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Prime Lands Residencies PLC Named Sri Lanka’s Most Valuable Real Estate Brand for 2026 📈

• Industry Leadership: Prime Lands Residencies PLC secured recognition as the Most Valuable Real Estate Brand in Sri Lanka for 2026 by Brand Finance, evaluating financial performance, brand strength, and long-term value creation. • Portfolio & Deliveries: The residential arm of Prime Group has launched over 55 apartment projects across Colombo and suburbs, with 47 delivered on time. Overall, the company completed 70+ residential developments, alongside Prime Group's 10,000+ land projects. • Economic Context: Underscores sector leadership and customer trust while driving local and international growth within real estate and housing infrastructure.

Construction & Real Estate
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🏆 Ceylinco Life Retains Position as Sri Lanka’s Most Valuable Insurance Brand

Ceylinco Life has once again been named Sri Lanka’s most valuable brand in the insurance sector, according to the 2026 Brand Finance ranking of the country’s 100 Most Valuable Brands. Key metrics from the latest evaluation include: • Brand Valuation & Rating: Valued at Rs. 6.7 billion with an AAA rating for 2026, marking growth from its 2025 valuation of Rs. 6.45 billion (AAA- rating). • National Ranking: Secured the 25th spot overall in the 'Sri Lanka 100' brand rankings. • Evaluation Criteria: Assessed on brand strength and value using internationally recognized standards, incorporating marketing investment, stakeholder equity, and overall business performance. The ranking highlights Ceylinco Life's continued market leadership and brand equity stability within Sri Lanka's broader financial services sector.

Insurance
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📈 NSB Retains Spot Among Sri Lanka’s Top 5 Most Valuable Brands

National Savings Bank (NSB) has once again secured its position among the country's top five most valuable brands, according to the 2026 Brand Finance Sri Lanka 100 valuation assessment. • Overall Landscape: The combined value of Sri Lanka’s top 100 brands grew by 17% YoY to Rs. 650 Bn in 2026, surpassing the pre-crisis peak of Rs. 630 Bn set in 2019. • Sector Breakdown: The banking sector remains the dominant driver of Sri Lanka's brand equity, accounting for ~42% of the total value of the top 100 brands. • Strategic Focus: NSB's recognition highlights its role in national financial security and inclusive development, supported by ongoing investments in digital transformation, customer experience, and modernized services.

Banking & Financial Services
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📈 PR Wire Named 'Best Consultancy to Work For' in Asia-Pacific for 4th Consecutive Year

Sri Lanka's PR Wire, a member of the Wire Communication Consultancy Holdings group, has clinched top honours as the Best Consultancy to Work For (Asia-Pacific - South Asia) at the Asia-Pacific SABRE Awards in Singapore. • Key Recognition: Awarded by PRovoke Media for the 4th consecutive year, evaluating firms via confidential employee feedback on workplace culture, collaboration, DEI, ethical leadership, and mental health support. • Sector Significance: Showcases Sri Lanka’s expanding capabilities in the ICT/BPM and professional service sectors on a global scale. PR Wire is marking 15 years of operations by scaling capabilities in reputation management, digital strategy, media intelligence, and sustainability communications. • Workplace Model: Driven by a 'work from anywhere' policy, continuous leadership development, equal opportunity frameworks, and comprehensive employee well-being initiatives.

Professional & Business Services
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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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Economic News

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📈 Sri Lanka Face Stark Economic Disparities Amid Recovery

• Wage & Income Crisis: EPF data reveals 92% of formal private sector employees earn under Rs. 100,000/month. Despite regaining upper-middle income status, Sri Lanka’s 2026 poverty rate stands at 65.4% under the PPP $ 8.3/day threshold, with World Bank projecting only a minor dip to 63.4% by 2028. • Household Strain & Public Sentiment: World Bank reports 33% of households suffered moderate or severe food insecurity in 2025. Recent polls show 51% of respondents reported worsening household finances (CPA survey), while Verité Research indicates only 42% believe the economy is improving. • Sector & Welfare Dynamics: Positive steps include wage hikes in the plantation sector, though brain drain and low-quality job creation persist. IMF has mandated a minimum floor for social spending and urged Colombo to implement targeted wealth taxes, contrasting the state's reliance on high indirect taxes and funding inactive SOEs.

Economy-wide / Cross-sector
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📈 SME Competitiveness and Delayed Payments

• Core Issue: Small and Medium Enterprises (SMEs) face severe financing pressures due to delayed invoice settlements by larger corporate customers, effectively forcing SMEs to act as lenders despite facing higher borrowing costs. • Capital Circulation: While policy debates focus on bank lending rates, credit supply, and collateral, insufficient attention is given to the trade credit SMEs extend. Prolonged payment terms (stretching from agreed 30 days to 60–90 days) increase working-capital reliance and burden supply chains. • Market Barriers: Extended payment cycles create undeclared capital barriers for smaller firms trying to compete for large customers, impacting national entrepreneurship, margins, and expansion capacity. • Corporate Governance: Delaying payables artificially inflates working-capital metrics for financially stronger companies by drawing on weaker suppliers' balance sheets, reversing efficient capital allocation principles. • Key Recommendation: Policy focus must expand from simply increasing bank credit supply to measuring and improving trade credit circulation. Sectors, including listed companies, require greater transparency around average payment periods and supplier receivables.

Economy-wide / Cross-sector
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📈 Sri Lanka Gross Public Debt Reaches Rs. 32.98 T in 2Q 2026

Sri Lanka’s gross public debt increased by Rs. 744 Bn (+2.3% QoQ) in 2Q 2026, reaching Rs. 32.98 Tn. However, due to exchange rate shifts, total debt in US$ terms fell 4.2% QoQ to US$ 97.95 Bn. • Overall Debt Metrics: • Gross Public Debt: Rs. 32.98 Tn (US$ 97.95 Bn) • Central Government Debt: Up 2.6% to Rs. 32.00 Tn (US$ 95.05 Bn) • Exchange Rate Applied: Rs. 336.66 per US$ (vs. Rs. 315.19 in 1Q) • Domestic vs. External Breakdown: • Domestic Debt: Eased 0.9% to Rs. 19.20 Tn. Treasury Bills dropped by Rs. 480 Bn to Rs. 2.37 Tn, while Treasury Bonds grew by Rs. 254 Bn to Rs. 16.07 Tn. • External Debt: Rose 1.4% (+US$ 540 Mn) to US$ 38.01 Bn (Rs. 12.80 Tn). Comprises multilateral debt (38%), commercial debt (34%), and bilateral debt (28%). • Key Creditor & Sector Highlights: • Multilateral & Bilateral: IMF exposure expanded by US$ 686.6 Mn to US$ 2.62 Bn. Bilateral debt rose to US$ 10.80 Bn, led by increases in loans from Korea (US$ 514.3 Mn) and China (US$ 5.01 Bn). • Commercial Debt: Contracted to US$ 12.41 Bn, with International Sovereign Bonds falling to US$ 10.01 Bn. • State-Owned Enterprises (SOEs): Government-guaranteed SOE debt dropped 12% to US$ 2.89 Bn (Rs. 971 Bn), supporting public sector balance sheet consolidation. • Debt Restructuring: Debt servicing resumed for finalized agreements, while negotiations with creditors across 13 countries remain ongoing as of end-June.

Economy-wide / Cross-sector
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📈 CBSL Open Market Operations Update (01 Sept 2026)

• Overnight Money Market: Call money rates averaged 8.85% (Rs. 53,720 Mn gross), while Repo rates averaged 8.91% with a total turnover of Rs. 67,450 Mn. • Repo Auctions: • Overnight: Rs. 6,000 Mn accepted out of Rs. 40,000 Mn offered at a weighted average yield of 8.75%. • Short-Term (7-Day): Fully accepted Rs. 35,000 Mn of received bids (Rs. 40,000 Mn offered) at a 8.75% yield. • Long-Term (30-Day): Oversubscribed with Rs. 23,000 Mn in bids against Rs. 10,000 Mn offered; Rs. 10,000 Mn accepted at a 9.15% yield. • Standing Facilities: Commercial banks deposited Rs. 101,826 Mn via the Standing Deposit Facility and utilized Rs. 4,068 Mn via the Standing Lending Facility. • CBSL Holdings: Central Bank holding of Treasury Bills/Bonds stood at a face value of Rs. 2,492,619.35 Mn (Book Value of Rs. 1,545,433.28 Mn).

Economy-wide / Cross-sector
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📈 Sri Lanka Flagged for ‘Elevated Concern’ Over El Niño & Economic Pressures

• Risk Classification: Joint UN report (OCHA, FAO, WFP, UN Women, WMO) places Sri Lanka in the Tier 2 'Elevated Concern Group' alongside Indonesia, Pakistan, and Afghanistan for Sep–Nov 2026. • Climate Impact: A strengthening El Niño and positive Indian Ocean Dipole bring high rainfall risks, coinciding with the Second Inter-Monsoon (Oct–Nov) and Northeast Monsoon (Dec–Feb). • Agricultural Threat: Severe weather poses flood and input cost risks to rice farming as the crucial Maha cultivation season begins, directly affecting national food security and rural employment. • Macro & Energy Pressures: Diesel (+44%) and gasoline (+41%) prices remain far above pre-crisis levels, alongside elevated fertilizer import costs and a ~6% rise in headline CPI. • Regional Outlook: Cascading shocks from fuel, fertilizer, and food market volatility could push an extra 8.2M people across monitored Asia-Pacific countries into acute food insecurity through late 2026 into 2027. Immediate anticipatory action is urged.

Economy-wide / Cross-sector
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StanChart Sri Lanka CEO Advocates Post-EFF IMF Stand-By Deal 📈

• Proposal for IMF SBA: Standard Chartered Sri Lanka CEO Bingumal Thewarathanthri suggested considering an IMF Stand-By Arrangement (SBA) following the completion of the current Extended Fund Facility (EFF) in 2027. He noted an SBA balances policy flexibility with investor confidence and external market access. • EFF Gains Achieved: The primary fiscal consolidation gains under the EFF include surpassing primary surplus targets to record a 1H Budget surplus, cost-reflective energy pricing, digitized cash transfers, and Central Bank independence. Completing the EFF would mark a major milestone after 17 previously incomplete IMF programs. • Unresolved Economic Issues: Significant challenges remain, including poverty levels hovering near 25%, insufficient support for SMEs, and sluggish foreign direct investment (FDI) inflows relative to Sri Lanka’s potential as an investment destination. • Market & Rating Benefits: Sustained IMF engagement is viewed as essential for maintaining sovereign credit ratings, reassuring global investors, and securing favorable borrowing costs when re-entering international capital markets.

Economy-wide / Cross-sector
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📈 Sri Lanka’s Official Poverty Line Rises to Rs. 17,679 in July 2026

• National Figures: The national official poverty line reached Rs. 17,679 per person/month in July 2026, marking a 0.5% (Rs. 87) MoM increase from June (Rs. 17,592) and a 7.2% (Rs. 1,195) YoY increase from July 2025 (Rs. 16,484). This is the highest threshold recorded since January 2025. • District Breakdown: Highest: Colombo recorded the highest threshold at Rs. 19,067, followed by Gampaha (Rs. 18,969) and Nuwara Eliya (Rs. 18,592). Lowest: Monaragala recorded the lowest threshold at Rs. 16,904, followed by Kilinochchi (Rs. 17,080) and Hambantota (Rs. 17,177). The variance between highest and lowest district thresholds stands at Rs. 2,163. • Economic Context: The rise aligns with accelerating inflation, as the National Consumer Price Index (NCPI) reached 223.4 with YoY inflation at 7.2% in July. The poverty line reflects the minimum expenditure for basic needs, not average household living costs. • Upcoming Data: Department of Census and Statistics scheduled the release of the final 2025 Household Income and Expenditure Survey (HIES) bulletin by late October 2026, which will provide updated data on household consumption patterns and minimum cost pressures.

Economy-wide / Cross-sector
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📉 Sri Lanka's External Current Account Deficit Extends to Fourth Month in July

• Overall Trade Figures: The external current account recorded a US$ 142 Mn deficit in July, pushing the Jan-July cumulative shortfall to US$ 387 Mn. The 7-month trade deficit expanded by ~67% YoY to US$ 6.5 Bn, driven by a 26% YoY rise in total imports to US$ 14.6 Bn. • Import Drivers: The cumulative fuel import bill surged 59.9% YoY to US$ 3.62 Bn, driven mainly by higher crude oil costs. Motor vehicle imports reached US$ 1.5 Bn in the first seven months (US$ 241 Mn in July). Terms of trade deteriorated as import prices outpaced export prices. • Services & Remittances: The services surplus fell 22.4% YoY to US$ 1.8 Bn for Jan-July. Tourism earnings dropped 11.5% YoY to US$ 1.8 Bn amid a 1.7% YoY dip in July arrivals. However, workers' remittances grew 21.4% YoY to US$ 5.4 Bn during the 7-month period. • Reserves & Currency: Gross official reserves edged up to US$ 6.6 Bn by end-July. YTD net foreign inflows to government securities stood at US$ 159.4 Mn in July. The Sri Lankan Rupee depreciated 5.5% against the US Dollar by end-August, though policy measures helped ease recent pressure.

Economy-wide / Cross-sector
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📈 Economists Call for Stronger State Role to Fix Sri Lanka’s "Racket" Economy

Leading economists and analysts highlight that Sri Lanka’s economic structure currently enriches a select few while burdening the majority, calling for progressive state regulation, redistributive market policies, and institutional reform. • Key Economic Issues & Malpractices - Systemic challenges cited include short-termism, low wages, price gouging, tax/VAT evasion, and illegal financial flows. - Highlighted a recent illicit $ 1 Bn transfer scheme involving four commercial bank managers without physical goods imported. - IMF 17th program ensured immediate financial stability, but failed to guarantee long-term social or environmental sustainability. • Sectoral Impacts & Regulatory Actions - Apparel & Textiles: Recognized as a key national success story built on historic investments in public human capital. - Environment & Health: Severe pollution in key water sources like the Kelani River from the Biyagama and Seethawaka industrial zones; Central Environmental Authority (CEA) recently shut 41 illegal factories and suspended the Ambuluwawa cable car project over ecological damage. - Agriculture: State role in paddy purchasing, milling, and distribution remains vital to curb price volatility. - Infrastructure & Utilities: Call for strong state control in natural monopolies like power and water to avoid high private rents. • Institutional Enforcement & Reforms - CIABOC actively investigating major financial malfeasance, including the $ 2 Mn Airbus bribery scandal involving SriLankan Airlines. - Proposed legislative updates aim to establish a Digital Economy Authority and strengthen state control via Electricity Act amendments.

Economy-wide / Cross-sector
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📈 Sri Lanka Construction PMI Gains Momentum in July 2026

Sri Lanka’s construction sector recorded accelerated expansion in July 2026, driven by a steady stream of new project awards despite ongoing supply-side bottlenecks and labor constraints. • Key Indicators & Performance: • Total Activity Index (PMI Construction): Rose to 61.4 in July 2026 (up from 60.0 in June 2026 and 60.0 in July 2025). • New Orders: Expanded faster to 57.1 (vs. 54.3 in June). • Quantity of Purchases: Surged to 64.7 (vs. 60.0 in June) on back of increased work availability. • Employment: Strengthened to 61.8 (vs. 61.4 in June), though firms continue to face skilled labor shortages. • Suppliers' Delivery Time: Modest adjustment to 60.0 (vs. 62.9 in June), reflecting slower delivery delays. • Industry Bottlenecks & Outlook: • Survey respondents reported persistent raw material price pressures and input shortages, particularly a short supply of bitumen. • Expectations for the next three months remain optimistic due to upcoming project pipelines. • Global Context: • Sri Lanka’s sector expansion contrasts with declining trends in major global markets such as Eurozone, France, Germany, Italy, and UK, while Ireland saw a rebound.

Construction & Real Estate
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📈 Sri Lanka Headline Inflation Rises to 8.0% in August 2026

• Headline Inflation: Colombo Consumer Price Index (CCPI, 2021=100) Y-o-Y inflation accelerated to 8.0% in August 2026, rising from 7.3% recorded in July 2026. • Sector Breakdown: • Food Basket: Y-o-Y food inflation accelerated significantly to 8.5% in August 2026 compared to 6.3% in July 2026. • Non-Food Basket: Y-o-Y non-food inflation decelerated slightly to 7.7% in August 2026 from 7.8% in the previous month.

Economy-wide / Cross-sector
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Central Bank’s Dilemma: Retain 5% Target or Shift to 2%? 📈

• Key Policy Decision: The Central Bank of Sri Lanka (CBSL) faces a pivotal choice by October 2026 to sign a new 3-year Monetary Policy Framework Agreement with the Government. CBSL must decide whether to maintain its current 5% inflation target (+/- 2% band) or transition toward the 2% global benchmark. • Core Arguments & Perspectives: • Pro-2% Target: Independent analysts argue a lower target protects purchasing power, curbs hidden taxes on fixed incomes, and boosts long-term investment. They highlight the Cantillon Effect, noting money creation disproportionately benefits large corporates and financial institutions first, while small businesses and wage earners bear the inflation burden. • Pro-5% Retention: Defenders cite structural rigidities, heavy import reliance, and high historical inflation averages (~11% from 1978–2026). CBSL economists caution that immediate aggressive monetary tightening to hit 2% could drag real-sector economic recovery amid supply shocks. • Proposed Glide Path: Former CBSL leadership suggests a staggered 3-year transition—reducing the inflation target step-by-step from current levels (above 7%) to 5% in Year 1, 4% in Year 2, and 3% in Year 3 to balance economic growth with price stability. • Framework & Structural Critiques: • Index Choice: Critics urge shifting from CCPI (Colombo-only) to NCPI for national coverage and updating the outdated 2018–19 consumer basket weights. • Target Metric: Calls exist to target core inflation rather than volatile headline inflation over which monetary policy has limited control.

Economy-wide / Cross-sector
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Politics & Government Impact

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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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Call for Accountability: Addressing Enforced Disappearances in Sri Lanka 🕊️

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

Economy-wide / Cross-sector
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🤝 Sri Lanka and US Launch Atlas Angel II Bilateral Exercise 📈

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

Economy-wide / Cross-sector
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🏛️ CII Conducts Local Government Governance Training for ITAK Representatives in North

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

Education & Training
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🗳️ Govt. Aims to Hold Provincial Council Elections at Earliest Opportunity

• Government Commitment & Funding: Cabinet Spokesperson Minister Dr. Nalinda Jayatissa confirmed that the Government intends to conduct long-delayed Provincial Council elections as soon as possible, with funds already allocated. • Legal & Delimitation Framework: Elections depend on Parliament enacting necessary legislation and completing the electoral boundary delimitation process within this year. A parliamentary committee is currently handling the matter. • Clarification on Rumors: Rejected reports that polls would be bypassed, emphasizing that legal provisions must be established before elections can proceed.

Economy-wide / Cross-sector
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📈 Cabinet Nod for Inter-Ministerial Standing Committee on Human Rights

The Cabinet of Ministers has approved the establishment of a permanent Inter-Ministerial Standing Committee on Human Rights to strengthen Sri Lanka's domestic follow-up, coordination, and international reporting mechanisms. • Key Mandate & Scope - Establishes a multi-stakeholder framework bringing together relevant Government ministries, departments, and state institutions. - Designed to systematically monitor progress, coordinate domestic human rights initiatives, and meet international reporting commitments. - Supports institutional continuity in Sri Lanka's engagement with global human rights bodies. • International Framework & UN Engagement - Sri Lanka is a state party to 9 core UN international human rights treaties and 5 optional protocols. - Following its 4th Universal Periodic Review (UPR) cycle in 2023, the committee will coordinate the submission of a voluntary mid-term report prior to the next review cycle. • Governance & Sponsorship - Joint resolution submitted by Foreign Affairs, Foreign Employment & Tourism Minister Vijitha Herath and Justice & National Integration Minister Harshana Nanayakkara. - Confirmed by Cabinet Spokesperson Dr. Nalinda Jayatissa to ensure systematic follow-up across state channels.

Economy-wide / Cross-sector
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🤝 Sri Lanka Pledges US$ 1 Mn Humanitarian Aid to Nepal

• Financial Support: President Anura Kumara Dissanayake directed the Government to extend a financial contribution of US$ 1 Mn in immediate relief and humanitarian assistance to Nepal following devastating floods and landslides. • Regional Solidarity: The assistance underscores the longstanding bilateral relationship and regional cooperation between both nations during natural disaster recovery efforts. • Diplomatic Engagement: Foreign Minister Vijitha Herath conveyed condolences and support directly to Nepalese Foreign Minister Shisir Khanal, with Sri Lanka remaining committed to further relief engagement.

Economy-wide / Cross-sector
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🇱🇰 Sri Lanka Will Not Allow Ethnic or Religious Conflicts to Emerge: President

• Key Statement: President Anura Kumara Dissanayake affirmed the Government’s strong commitment to establishing a peaceful and compassionate society across Sri Lanka. • Policy Stance: The administration will explicitly prevent the recurrence of any ethnic or religious friction in the country to maintain national stability.

Economy-wide / Cross-sector
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Global & International Business

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

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

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

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

Construction & Real Estate
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26th Exporters’ Forum Sets $36 Bn Target for 2030 📈

• Overall Targets & Milestones: Sri Lanka recorded a historic export value of US$ 17.3 Bn in 2025. The Sri Lanka Export Development Board (EDB) is targeting US$ 19 Bn for 2026, aiming for US$ 36 Bn by 2030 under the National Export Development Plan. • Policy & Growth Strategy: The government is focusing on increasing total export volume and simplifying policy obstacles. Focus is shifting toward integrating rural producers into global markets through proper packaging, technology, and market understanding. • Regional & Decentralized Support: Issues are being resolved directly with government institutions at provincial and district levels to support regional growth beyond Colombo. • Trade Facilitation: Unresolved industry challenges were addressed directly at the forum, with a significant number already routed through the Export Facilitation Task Force.

Economy-wide / Cross-sector
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Appointments & Executive Moves

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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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📉 SLTDA Chairman Buddhika Hewawasam Steps Down Ahead of Major Campaigns

• Leadership Change: Joint Chairman of the Sri Lanka Tourism Development Authority (SLTDA) and Sri Lanka Tourism Promotion Bureau (SLTPB), Buddhika Hewawasam, has resigned as SLTDA Chairman, effective 17 August 2026. He cited personal reasons, noting he had initially agreed to hold the dual post for one year but extended his tenure at the request of President Anura Kumara Dissanayake. • Strategic Focus: Hewawasam will remain focused on executing upcoming interim market-specific promotional campaigns to maintain visibility ahead of the winter travel season, as well as preparing for the planned Rs. 3.5 Bn global destination branding campaign slated for late 2026 or early 2027. • Sector Impact: The transition comes at a critical time for tourism, a pivotal sector for foreign exchange earnings and employment in Sri Lanka's economy. • Succession: Suranjith Wevita is expected to be appointed as the new SLTDA Chairman by Tourism Minister Vijitha Herath, though official confirmation was pending as of yesterday.

Tourism, Hospitality & Leisure
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Corporate News

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

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

Professional & Business Services
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📈 People’s Insurance 1H 2026: GWP Up 39%, PBT Surges 63%

People’s Insurance PLC recorded a strong financial performance in 1H 2026, significantly outperforming Sri Lanka’s broader general insurance industry. • Overall Performance - Gross Written Premium (GWP): Rs. 5.21 Bn, up ~39% YoY (vs. industry growth of 23%). - Profit Before Tax (PBT): Rs. 525.6 Mn, up ~63% YoY. - Profit After Tax (PAT): Rs. 357.3 Mn (+61% YoY). - Earnings Per Share (EPS): Rs. 1.75 (vs. Rs. 1.09 in 1H 2025). • Sector Breakdown - Motor Portfolio: Rs. 4.05 Bn GWP (+39.2% YoY vs. ~33.5% industry growth), remaining the primary growth engine. - Non-Motor Portfolio: Rs. 1.16 Bn GWP (+37.4% YoY), substantially beating the overall industry's Non-Motor expansion of ~9.9% as diversification efforts pay off. • Financial Position & Operations - Underwriting Loss: Reduced significantly to Rs. 92.4 Mn (down from Rs. 231.9 Mn loss in 1H 2025). - Investment & Other Income: Increased to ~Rs. 618 Mn (+11.7% YoY). - Total Shareholders' Equity: Reached ~Rs. 6.33 Bn as of June 30, 2026. - Credit Rating: Fitch Ratings affirmed its 'A(lka)' Insurer Financial Strength rating with a Stable Outlook, supported by healthy Capital Adequacy Ratios.

Insurance
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📈 Singer Finance to Raise Up to Rs. 3 Bn via Rights Issue

Singer Finance (Lanka) PLC has announced plans to raise up to Rs. 3 billion through a capital-boosting rights issue. • Capital Raising Terms: The company will issue up to 76,648,787 new ordinary voting shares at Rs. 39.20 each. Existing shareholders will be offered 8 new shares for every 29 existing ordinary voting shares held. • Use of Proceeds: Funds will be utilized to strengthen capital adequacy ratios and support expansion in lending operations within Sri Lanka’s non-banking financial sector. • Regulatory & Governance Approval: Received Central Bank of Sri Lanka (CBSL) approval on 19 August 2026. Final execution remains subject to CSE approval in principle and an Extraordinary General Meeting (EGM) shareholder resolution. • Financial Background: • Stated Capital: Rs. 4.005 Bn (277.85 million shares as of 30 June 2026). • Net Asset Value: Rs. 35.36 per share (end-June 2026). • Parent Company: Singer (Sri Lanka) PLC (controlled by Hayleys PLC) holds the major shareholding at 79.93%. • Share Trading: Stock traded up by 70 cents to Rs. 49.00 mid-session.

Banking & Financial Services
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📈 Bank of Ceylon Reports Strong 1H 2026 Performance with Rs. 62.7 Bn PBT

• Core Financial Highlights PBT: Rs. 62.7 Bn PAT: Rs. 39.8 Bn Net Interest Income: Rs. 109.4 Bn Interest Income: Rs. 253.7 Bn (Up 4% YoY) Net Fee & Commission Income: Rs. 12.7 Bn (Up 17% YoY) Total Operating Income: Rs. 131.4 Bn (Up 9% YoY) Government Tax Contribution: Rs. 39.2 Bn • Balance Sheet & Ratios Total Assets: > Rs. 5.4 Tn Total Deposits: Rs. 4.3 Tn Gross Loans & Advances: Rs. 2.8 Tn Stage 3 Loan Ratio (Net): Improved to 5.01% Cost-to-Income Ratio: 32.67% ROA / ROE: 2.30% / 20.44% Capital Adequacy: Tier I at 13.32%, Total Capital at 17.22% • Key Focus Areas & Economic Impact Financed critical national infrastructure, SOEs, and key imports (fuel, pharmaceuticals, coal, gas) Dedicated funding for key growth drivers including SMEs, agriculture, exporters, and youth/women entrepreneurs via dedicated circles and the Agri-Banking Unit Facilitated national social programs, opening 700,000+ accounts for Aswesuma beneficiaries Accelerated adoption of digital solutions like BOC Flex and SmartPay QR while remaining the largest facilitator of inward remittances

Banking & Financial Services
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BOC to Raise Up to Rs. 10 Bn via AT1 Bonds 📈

State-owned banking giant Bank of Ceylon (BOC) has opened an unlisted, Basel III-compliant Additional Tier 1 (AT1) bond issue to bolster its financial structure. • Issue Details: Offers an initial Rs. 5 Bn (50 million bonds at Rs. 100 each), with an option to raise up to Rs. 10 Bn in case of oversubscription. Rated ‘AA-‘ (Stable) by Lanka Rating Agency Ltd. • Returns & Maturity: Floating annual rate set at 12-month net T-Bill rate + 2.00% p.a. Bonds are perpetual (no fixed maturity), with a discretion-based call option after 5 years subject to CBSL approval. • Impact on Capital: Designed to enhance Tier 1 capital, manage asset-liability gaps, and expand liquidity. BOC's Capital Adequacy Ratio (CAR)—currently at 17.22% vs 15.00% regulatory minimum—is projected to rise to 17.45% (at Rs. 5 Bn raised) or 17.69% (at Rs. 10 Bn raised). • Investor Eligibility: Issue runs until 31 December 2026 (or until fully subscribed) exclusively for qualified institutional and high-net-worth investors, with a minimum subscription of Rs. 1 Mn (Rs. 50 Mn for individual qualified investors).

Banking & Financial Services
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### OMODA & JAECOO Record 144,841 Global Sales in June-July 📈

• Global Sales Figures: OMODA and JAECOO achieved 144,841 total global vehicle sales across June and July 2026, driven by sustained international demand. • New Energy Vehicle (NEV) Performance: - NEV segment dominated results with 112,775 units sold (~77.8% of total volume). - Strong growth reflects global demand for electric, hybrid, and intelligent mobility tech. • Sri Lanka Market Context: - Distributed exclusively by Hayleys Mobility (a division of Hayleys Fentons Ltd.). - Local operations provide full after-sales support, genuine parts, and specialized ownership solutions for Sri Lanka's growing automotive and electric vehicle markets.

Manufacturing & Industrials
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Uncategorized

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

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

Other
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⚠️ Unable to Generate Summary: Data Extraction Error

• Status: Content extraction from the source (_www.ft.lk_) timed out. • Details: No article content or financial data was retrieved. _Please provide the news text or try again shortly based on provisional data availability._

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

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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7. Regulatory & Policy News

**Awards & Recognitions**

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

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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.

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

**Politics & Government Impact**

Startups & Entrepreneurship

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

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

Professional & Business Services
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📈 MAS Holdings Backs Syntetica’s $30M Series A for Nylon Recycling

French deep tech startup Syntetica secured US$ 30 Mn in Series A funding to scale technology for recycling complex textile waste. The investment round was led by Bpifrance’s Ecotechnologies 2 fund, with participation from Sri Lankan apparel & textiles giant MAS Holdings, lululemon, SWEN Capital Partners, EQT Ventures, and key family offices. • Funding & Expansion: The US$ 30 Mn round will fund Syntetica's first commercial demonstration facility in France in partnership with Michelin. The plant will scale the process from laboratory testing to processing hundreds of tonnes of textile waste annually. • Technical Breakthrough: Syntetica developed a proprietary process to recycle both Nylon 6 and Nylon 6,6 together from mixed waste without prior separation, overcoming a major technical hurdle in apparel & textiles circularity. • Market & Sector Relevance: - Global nylon production reached ~7 million tonnes in 2024, but recycled nylon accounts for only ~2% of the market due to processing challenges. - Over 80% of household textile waste is currently incinerated or landfilled. Syntetica targets post-consumer waste to build circular supply chains. - MAS Holdings leverages its manufacturing expertise to scale circular material solutions, reinforcing Sri Lanka's positioning in sustainable global apparel & textiles supply chains.

Apparel & Textiles
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Chalinda Abeykoon: Building Sri Lanka’s Global Startup Ecosystem 📈

• Overview: Venture capitalist Chalinda Abeykoon, co-founder at nVentures, highlights the evolution of Sri Lanka’s ICT/BPM and startup ecosystem—from early government-led initiatives to cross-border venture capital investments. • Startup Evolution: • Started Spiralation, Sri Lanka’s first tech startup incubator at ICTA, aiding ~75 tech companies in securing quality certifications and training 25,000+ students in international certifications. • Organized early island-wide hackathons, connecting youth across Jaffna, Kandy, and the South to foster local talent. • Investment Strategy & Exits: • Currently manages Singapore-domiciled VC fund nVentures to facilitate institutional exits, governance, and foreign capital inflows. • Focuses on founder-market fit and high-growth potential over traditional metrics. • Enables local startups to build globally relevant software and AI products directly from Colombo. • Creating a sustainable funding cycle: early founders from Fund 1 are now reinvesting as LP investors in Fund 2 to build local wealth.

Capital Markets & Investment
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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.

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