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

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

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

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

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

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

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SEC & CSE to Host Second Investor Forum on 9th July 📈

• Event Details: The Colombo Stock Exchange (CSE) and Securities and Exchange Commission (SEC) will host a free investor forum conducted in English on 9th July 2026 at 5:30 p.m. at the CSE Trading Floor (WTC, Colombo 1). It targets potential investors in the greater Colombo area looking to invest in the stock market or Unit Trusts. • Participant Incentives: Stockbrokers and Unit Trust firms will be available for account opening from 9:00 a.m. onwards. The first 200 participants opening accounts on the day will receive an investment coupon gifted by SEC and CSE. • Market Growth Context: The forum comes amid a remarkable six-year capital market expansion. The All-Share Price Index (ASPI) rose 360% from 4,846 points in May 2020 to 22,310.80 points by May 2026, marking a Compound Annual Growth Rate (CAGR) of ~28.98%, with capital gains remaining tax-free. • National Initiative: This is part of an ongoing island-wide initiative to enhance financial literacy, broad-base investor participation, and leverage the CSE’s nationwide branch network. Feature presentations will include insights from the SEC, CSE, and the Central Bank of Sri Lanka (CBSL).

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📈 Swedfund Invests US$ 15 Mn in CDB to Boost Sri Lankan MSMEs and Job Creation

Swedfund, the Swedish Development Finance Institution, has invested US$ 15 million in Citizens Development Business Finance (CDB) to expand access to long-term financing for micro, small, and medium-sized enterprises (MSMEs) in Sri Lanka. • Overall Funding: A US$ 15 million capital injection aimed at addressing the severe constraints on long-term capital resulting from Sri Lanka's recent economic challenges. • Target Sector: MSMEs, which account for a significant share of national employment and economic activity but heavily lack formal financing, especially in rural areas. • Women's Economic Empowerment: 30% of the total financing is strictly dedicated to supporting women-owned or women-led businesses. The investment aligns with the global 2X Challenge criteria. • Strategic Impact: Beyond capital, the partnership will help CDB strengthen its environmental and social risk management systems alongside expanding its climate-related lending practices.

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📈 Amana Takaful Raises Rs. 1 Bn+ via Oversubscribed Rights Issue

Amana Takaful PLC has successfully concluded its Rights Issue, signaling strong investor confidence in the firm’s strategic direction. • Funding Details: Raised over Rs. 1 Bn through the issuance of 52.8 million new ordinary shares at Rs. 19 per share. • Investor Response: The issue was oversubscribed by 68.8%, reflecting significant shareholder demand. • Strategic Focus: Capital will support ongoing growth in the insurance sector, particularly in motor and medical segments, alongside digital transformation initiatives. • Financial Impact: The raise bolsters Tier I capital and ensures readiness for the implementation of SLFRS 17 and SLFRS 9, providing enhanced financial flexibility for future expansion. This capital infusion follows a period of steady growth for the company, which continues to prioritize technological integration to streamline general insurance services.

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📈 CSE to Open Iconic Trading Floor for Colombo Investor Forum on June 25

The Colombo Stock Exchange (CSE) and the Securities and Exchange Commission (SEC) are launching a nationwide series of investor forums to boost financial literacy and capital market access. • Market Milestone: The initiative kicks off amid a remarkable six-year capital market expansion, with the All Share Price Index (ASPI) surging 360% from 4,846 points (May 2020) to 22,310.80 points (May 2026)—representing a compound annual growth rate (CAGR) of ~28.98%, with capital gains remaining tax-free. • Event Details: The first free forum will be conducted in Sinhala on Thursday, 25 June 2026, starting at 5:00 p.m. on the CSE trading floor at the World Trade Centre, Colombo. The trading floor will open early from 9:00 a.m. to 5:00 p.m. for public walkthroughs. • Investor Services: Representatives from stockbroker firms and unit trust associations will assist with direct account openings. The first 200 participants to open an account on the day will enter a raffle draw for an investment coupon. • Key Stakeholders: Features an interactive panel and sessions with officials from the Central Bank of Sri Lanka (CBSL), SEC, CSE, and leading market intermediaries covering the macroeconomic outlook, sectoral performance, and investor protection frameworks.

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Nations Trust Bank’s Rs. 15 Bn Debenture Issue Oversubscribed on Opening Day 📈

• Overall Issue: Nations Trust Bank PLC (NTB) successfully closed its Basel III-compliant Tier 2 debenture issue ahead of schedule on 19 June 2026 after hitting full oversubscription on its opening day. • Subscription Details: The initial public offering comprised up to 100 million debentures at Rs. 100 each, with an option to issue a further 50 million in the event of oversubscription. Applications exceeded 150 million debentures, triggering the full subscription of the maximum Rs. 15 Bn limit. • Structure & Tenors: The listed, rated, unsecured, subordinated, and redeemable debentures feature a non-viability conversion feature across three tenors: 5 years (2026-2031) 7 years (2026-2033) 10 years (2026-2036) • Strategic Impact: The banking sector capital injection is intended to strengthen NTB's Tier 2 capital base, supporting its future business growth while comfortably maintaining regulatory capital requirements. • Next Steps: The final basis of allotment will be officially notified to the Colombo Stock Exchange (CSE) in due course.

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Industry & Sector News

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🔋 Sri Lanka Launches Mega 250 MW/1000 MWh Battery Storage Tender to Boost Renewable Grid

The National System Operator (NSO) has opened international competitive bidding for a Standalone Battery Energy Storage System (BESS), marking one of the country's largest grid-connected storage procurements to date. • Project Details & Structure: The tender calls for developers to Build, Own, and Operate (BOO) 10 MW/40 MWh capacity blocks across 25 grid substations island-wide (including Hambantota, Kurunegala, Chunnakam, and Galle). Successful bidders will sign a 15-year Energy Storage Agreement at the 33kV voltage level. • Requirements & Deadlines: Developers must finance, construct, and maintain the projects, including grid interconnection costs. Proposals are due by 10:00 hrs on August 14, 2026. RFP documents cost LKR 150,000 for local or USD 500 for overseas proponents. • Strategic Alignment: The initiative supports Sri Lanka's National Energy Policy targets to achieve 70% electricity generation from renewable sources and reduce imported fossil fuel dependence below 50% by 2030. It also aligns with the Ministry of Environment's Carbon Net Zero 2050 Roadmap. • FDI & Market Context: Globally, storage capacity grew 40% YoY in 2025 (adding 108 GW), per the IEA. Industry observers note that a stable, storage-backed renewable grid is critical for attracting Foreign Direct Investment (FDI), especially from multinational manufacturers (like RE100 members) who demand renewable-powered supply chains.

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📈 Sri Lanka Tourism Crosses 1.2 Mn Arrivals in 2026

• Overall Figures: Sri Lanka’s tourism industry surpassed the 1.2 million visitor milestone for 2026 during the first half of July. Year-to-date (YTD) arrivals remain 2% below the corresponding period last year, based on provisional data from the SLTDA. • July Performance: During the 1-12 July period, arrivals reached 71,383, representing a 3% YoY decline from the 73,343 visitors recorded in 2025. The daily average for July stands at 5,949 arrivals, driven by school holidays and cultural events. • Top Source Markets (YTD): • India remains the dominant source market, contributing 310,293 visitors (25% of total arrivals). • United Kingdom ranks second with 115,863 arrivals (10%). • China has overtaken Russia to become the third-largest source market with 80,487 tourists (7%). • Russia slipped to fourth place with 78,043 visitors (6%). • July Sector Breakdown: For the first 12 days of July, India led with 16,610 visitors (23%), followed by the UK (10%), Australia (9%), China (6%), and the Netherlands (5%). • Outlook: While recovery continues from earlier disruptions, authorities anticipate an acceleration in arrivals during the second half of the year, supported by the peak summer travel season and an upcoming expanded international marketing drive.

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📈 Sri Lankan Insurance Sector Shows Resilience with 24.5% GWP Growth in 1Q 2026

The Insurance Regulatory Commission of Sri Lanka (IRCSL) reported steady growth for the first quarter of 2026, demonstrating sector resilience despite macroeconomic challenges and the late-2025 impact of Cyclone Ditwah. • Overall Performance & GWP: Total Gross Written Premium (GWP) increased by 24.54% Year-on-Year (YoY) to Rs. 114,863 million (up from Rs. 92,229 million in 1Q 2025). Total industry assets grew 16.65% YoY to Rs. 1,478,777 million. • Sector Breakdowns: - Long-Term (Life) Insurance: GWP rose 25.13% YoY to Rs. 63,888 million. Total assets grew 14.02% to Rs. 1,088,527 million, maintaining the largest share of industry assets. - General Insurance: GWP grew 23.81% YoY to Rs. 50,975 million, while total assets expanded significantly by 25.90% to Rs. 378,340 million. - Reinsurance: Total assets contractually decreased by 4.45% YoY to Rs. 11,910 million. • Claims & Profitability: - Total claims incurred rose 19.88% YoY to Rs. 45,977 million (Life claims up 21.03% to Rs. 28,051 million; General claims up 18.13% to Rs. 17,926 million, heavily driven by Cyclone Ditwah settlements). - Total Profit Before Tax (PBT) edged up 3.14% YoY to Rs. 9,978 million. General Insurance PBT jumped 28.13% to Rs. 7,215 million, contrasting a 11.51% drop in Life Insurance PBT to Rs. 4,390 million. • Government Debt Investments: Total investments in secure Government debt securities grew 9.45% YoY to Rs. 668,786 million. This was led by the Life Insurance sector, which held Rs. 556,766 million (56.25% of its total portfolio), while General Insurance held Rs. 112,020 million (53.52% of its total portfolio).

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📈 AI Recommending Sri Lankan Brands by Name: Key Takeaways

A new BrandRadar study tracked 198 Sri Lankan brands across 18 segments and 6 industries (including banking, insurance, hospitality, and retail) on ChatGPT, Google Gemini, and Perplexity from March to May 2026, revealing massive shifts in how AI handles brand discovery. • Overall AI Visibility Trends: AI systems surfaced 980 Sri Lankan brands over three months. However, visibility is highly volatile; only 67 brands maintained their position all three months, while 94 appeared just once and vanished. AI visibility metrics do not appear in traditional web analytics or Google search rankings. • Key Insights & Sector Highlights: • Insurance & Hospitality Volatility: Ceylinco General Insurance recorded a massive 55-point AI visibility score surge (from 28.5 to 83.6) in April alone. Conversely, Shangri-La Colombo ranked #1 among hotels in March, vanished completely in April, and returned in May at a third of its former standing. • Platform Discrepancies: Brands can dominate one LLM and be absent on others. Wellness resort Santani surfaced on ChatGPT in April but scored zero on Gemini and Perplexity. • Accumulated Content Advantage: Legacy brands win on deep content archives. Toyota (automotive) and Galle Face Hotel (hospitality) leverage decades of media coverage and review ecosystems to maintain high citation mass. • Category Dynamics: Consolidated, high-scoring categories like ICE vehicles (average score 88.6) see the same brands locked in order. Low-scoring categories like villa stays (average 14.8) are highly fluid, with entirely new brands rotating into the top five monthly. • National Context & Takeaway: Experts note AI is becoming the primary touchpoint for customer discovery. Winning brands are successfully converting traditional media spend into AI recommendations by investing in high-quality editorial coverage, structured product data, and trusted digital assets.

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CRISIS DEEPENS: Why 7,500 Foreign Workers Won't Fix Sri Lanka's Construction Sector 📈

• Overall Crisis: Sri Lanka's construction industry faces an interconnected operational crisis. While importing 7,500 skilled foreign workers is proposed as a quick fix, experts warn it merely treats symptoms rather than addressing deep-rooted structural failures. • Key Operational Failures: Manpower & Skilled Labour Shortage: Acute deficits in essential trades (masons, carpenters, electricians) driven by low domestic wages, poor vocational education, and an aging workforce. Brain Drain: Massive migration of top local talent to high-paying markets like the Middle East, Australia, Japan, South Korea, and Europe, leaving a severe skills deficit locally. Material & Financing Pressures: Sharply escalating costs for critical inputs (steel, cement) due to exchange rate depreciation and inflation, compounded by high interest rates that severely restrict liquidity for small and medium contractors. Government Bottlenecks: Chronic liquidity distress caused by delayed state payments on public infrastructure projects, coupled with regulatory delays and bureaucratic bottlenecks. Productivity & Management: Low adoption of digital technologies (like BIM) alongside outdated project planning, resulting in frequent cost overruns and resource wastage. • Strategic Outlook: A simple SWOT analysis is deemed inadequate by experts to solve the crisis. Instead, a Fishbone (Ishikawa) Root-Cause Analysis is recommended to address the vicious cycle of policy uncertainty, declining investor confidence, and talent outflows. Policy interventions must focus on long-term structural reforms rather than temporary external labour solutions to revive this vital pillar of the economy.

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📈 Visa Conclave 2026 Focuses on Cybersecurity & Collaboration to Drive Sri Lanka’s Digital Payments Growth

Visa successfully hosted the Visa Sri Lanka Cybersecurity Conclave 2026 on June 25, 2026. The event brought together banking executives, government officials, regulators, and industry bodies to address the evolving cyber threat landscape and enhance resilience across the national digital economy. Key Highlights & Developments: • National Priority: Government and regulatory leaders emphasized that securing the banking & financial services sector is a critical enabler of trust as Sri Lanka advances its national digital transformation and technology-enabled commerce. • Evolving Risk Landscape: Discussions focused on the rising sophistication of cyberattacks, highlighting how AI-enabled threats are creating complex challenges for financial institutions, businesses, and regulators. • Strategic Focus Areas: Panelists from the Central Bank of Sri Lanka, the Ministry of Digital Economy, the Cyber Command and Information Warfare Centre, and Commercial Bank of Ceylon stressed the need for proactive threat intelligence, real-time response, robust regulatory frameworks, and capacity building. • Advanced Fraud Prevention: Visa showcased its cyber advisory capabilities and data-driven fraud prevention solutions, introducing Featurespace to help local organizations detect and prevent financial crime using behavioral analytics. • Collective Resilience: The conclave reinforced that safeguarding the digital commerce ecosystem is a shared responsibility, requiring sustained investment, public-private collaboration, and information sharing across the ecosystem to ensure an inclusive digital economy.

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📈 Sri Lanka Tourism Earnings Fall 12% in 1H 2026 amid Target Revisions

Sri Lanka’s tourism industry faced a challenging first half of 2026, with cumulative earnings declining by 12% year-on-year (YoY) to over US$ 1.51 Bn, according to provisional Central Bank data. • Overall Figures & Trends: June 2026 earnings dropped 11% YoY to US$ 151.1 Mn, marking the lowest monthly revenue this year. January remains the strongest month of 2026, generating US$ 413.78 Mn. • Target Revisions: Due to Middle East conflict disruptions affecting regional air connectivity and arrivals, the government lowered its 2026 targets. The original goals of 3 million visitors and US$ 4 Bn in revenue have been revised down to 2.5 million tourist arrivals and US$ 3.5 Bn in earnings. Sri Lanka must now generate over US$ 2 Bn in 2H to meet this updated goal. • Shift in Visitor Spending: Traditional dynamics are shifting as Asia-Pacific travelers, particularly Indian tourists, drive higher daily spending. The average daily expenditure of Indian visitors rose to approximately US$ 154, surpassing the overall national average tourist spend of US$ 148. • Niche Tourism Potential: Demand is growing for high-value niche segments. Travelers seeking wildlife and marine tourism experiences spend between US$ 160 and US$ 170 per day, highlighting key opportunities for economic diversification beyond high visitor volumes.

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🚢 8th Colombo International Maritime & Logistics Conference Set for September 2026

The 8th edition of the Colombo International Maritime and Logistics Conference (CIMC 2026) will take place from September 9 to 11 at the Radisson Blu Hotel Galadari Colombo, under the theme "Building a world around us." Key Highlights & Event Structure • Scale & Sessions: The 3-day premier summit features over 12 sessions and more than 50 global speakers. It is organized by CIMC Events and Shippers’ Academy Colombo/International. • Strategic Backing: Supported by major chambers including AMCHAM Sri Lanka, the European Chamber of Commerce, and the German Chamber (AHK) to position Sri Lanka as South Asia's primary maritime gateway. • Global Presence: Launching with high-level international officials from the USA, India, and other nations. Data & Policy Focus • Market Insights: Features the official release of the South Asia Container Report by Maritime Gateway, providing critical trade projection data up to 2035, alongside regional data from the World Bank and ADB. • Port Modernization: Targets commercial and structural updates across Sri Lanka's key ports, including Colombo, Hambantota, and Trincomalee, focusing on FDI verticals, green bunkering, and spatial planning for free ports. • Logistics & Technology: Sessions will cover modern tech-driven logistics, AI workflow automation, maritime cyber security, digital supply chain finance, and multimodal air-sea connectivity into global markets like Africa. • National Economic Policy: The event culminates in a multi-party political fireside chat aimed at rewriting Sri Lanka's 1979 maritime framework. The objective is to aggressively lift the maritime & logistics sector's national GDP contribution from under 2.5% to a target of 10%.

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📈 AHRP Marks 25 Years of Elevating Sri Lanka’s Human Resources Sector

The Association of Human Resource Professionals (AHRP) is set to celebrate its 25th anniversary on July 16, 2026, at Cinnamon Life, Colombo. Under the theme "Shaping the Future of Work and Organisations," the event highlights the evolution of human resources from back-office management to boardroom leadership. • Key Highlights: • Chief Guest: Prime Minister Dr. Harini Amarasuriya will deliver a special address on the role of human capital in Sri Lanka's economic progress. • Global Insights: Keynote address by Ankit Khanna (Director Talent Solutions, LinkedIn) followed by an expert panel featuring global leaders from BCG, SHRM, and AIA Insurance. • National Impact: Over 25 years, AHRP has collaborated with the National Human Resource Development Council to shape the national skills and employability agenda. • Sector & Talent Development: • Corporate Alignment: Developed a capability framework backed by insights from 25 leading corporate CEOs. • Talent Pipeline: Continued investment in youth and future leaders via programs like Elevate U to support growing national industries like ICT/BPM, finance, and manufacturing. • Strategic Partners: Supported by major national and global entities including LinkedIn, Commercial Bank, and Singer Sri Lanka.

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📈 Sri Lanka to Launch Rs. 3.5 Bn Global Tourism Campaign by Year-End

Sri Lanka Tourism is finalising its Rs. 3.5 billion global destination branding campaign for late 2026 or early 2027, supported by the World Bank. To maintain visibility ahead of the winter season, targeted interim campaigns will roll out from August. • Strategic Goals: The initiatives aim to reposition Sri Lanka globally, targeting a long-term milestone of 5 million tourist arrivals and US$ 8.00 Bn in tourism earnings by 2030. • Interim Market Rollout: • August: Digital marketing and PR campaigns begin in Germany, the UK, Australia, and New Zealand. • September: Expansion into India, China, and Russia. • Subsequent Phase: Campaigns targeting France, South Korea, and the Netherlands. • Procurement & Operations: Contracts for Australia and New Zealand will be awarded next week, with UK and Germany finals close behind. Tenders for France, South Korea, and the Netherlands close in early August. Specialist consultants are being recruited via World Bank assistance to ensure international best practices. • Governance: Tourism authorities clarified that standard 42-day procurement timelines will be maintained for major international campaigns to ensure transparency, rejecting a proposed 14-day expedited window which was only intended for immediate local interim promotions.

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📈 Asia-Pacific Tourists Outspend Europeans Despite Shorter Stays in Sri Lanka

Sri Lanka is witnessing a major shift in visitor spending, driven by high-value niche experiences and strong regional demand. • Overall Figures: The national average daily tourist expenditure stands at US$ 148, but several Asia-Pacific and Middle Eastern markets are comfortably exceeding this benchmark. • Top Spending Markets: UAE leads with the highest average daily spend at ~US$ 195. Egypt & Türkiye visitors spend over US$ 180 per day (averaging 6–7 day stays). India tourists spend ~US$ 154 per day, outpacing the national average and occasionally outspending traditional European markets. Malaysia also recorded higher-than-average daily spends. Europe (Belgium, Austria, Czech Republic) falls below US$ 145 per day, though they maintain longer stays of 11–14 days. • Market Breakdown: India remains the largest source market by a wide margin, contributing 301,875 arrivals YTD (26% of total 2026 arrivals). In the first six days of July alone, 8,192 Indian visitors arrived, making up 24% of the period's total. • Sector Highlights: High daily spends of US$ 160–170 are driven by wildlife and marine tourism. The SLTPB notes a growing demand for premium, experience-based products like wellness tourism, nature, and adventure, which generate higher overall revenue despite shorter stays. _Data Source: Sri Lanka Tourism Promotion Bureau (SLTPB) provisional data._

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📈 Sri Lanka Tourist Arrivals Recover in Early July but Trail 2025 Pace

Sri Lanka’s tourism sector saw a stronger start to July compared to June, though visitor numbers still lag behind last year's performance based on provisional data. • Overall Figures (July 1–6): • Total arrivals reached 34,721, down 3.6% YoY. • Daily average improved sharply to 5,786 visitors (vs. 3,889 in early June), but remained below the 6,000 daily average seen in July 2025. • Year-to-Date (YTD) Performance: • Cumulative 2026 arrivals surpassed 1.18 Mn, representing a 2% YoY decline. • Full-year national targets stand at 3.0 Mn arrivals and US$ 4.0 Bn in earnings, requiring stronger second-half momentum. • Top Source Markets (July 1–6): • India: 8,192 visitors (24%) • UK: 3,136 visitors (9%) • Australia: 2,640 visitors (8%) • China: 2,194 visitors (6%) • Germany: 1,538 visitors (4%) • YTD Market Leaderboard: • India became the first market to cross the 300,000 milestone (301,875 visitors; 26% share). • UK holds second place (111,703; 9%). • China (78,365; 7%) overtook Russia (77,727; 7%) to secure third place.

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Global & International Business

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Sri Lanka Targets High-Value Travelers at ILTM Asia Pacific 2026 📈

• Event & Promotion: Sri Lanka actively promoted its high-end travel sector at the International Luxury Travel Market (ILTM) Asia Pacific 2026 in Singapore from June 29 to July 2. The initiative focused on positioning the island as a premier destination for affluent global travelers. • Sector Breakdown: A dedicated national pavilion showcased diverse premium offerings, emphasizing niche markets critical to national economic diversification and employment, including wellness & Ayurveda, luxury accommodation, wildlife, cultural heritage, and bespoke adventure tourism. • Industry Participation: Spearheaded by the Sri Lanka Tourism Promotion Bureau and supported by the High Commission in Singapore, the delegation featured 15 prominent local hospitality and travel companies, including Resplendent Ceylon, Hilton Yala Resort, and Siddhalepa Ayurveda Health Resort. • Strategic Outcomes: The four-day event facilitated intensive business-to-business (B2B) meetings with international luxury travel buyers, successfully strengthening global partnerships and generating new commercial opportunities to leverage the affluent Singapore and regional markets.

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EU & Sri Lanka Partner to Boost Sustainable Export Trade 📈

The Sri Lanka Export Development Board (EDB) has initiated a collaboration with Expertise France to advance sustainable, climate-resilient, and circular trade with the European Union (EU) under the EU's Global Gateway Strategy. • Key Initiative: The EU-funded project focuses on integrating Sri Lanka into EU markets by aligning trade-related regulations, advancing the green transition, and implementing climate-adaptive practices. • Sector Focus: Discussions centered on strengthening the competency of Sri Lanka's export ecosystem, particularly focusing on small and medium enterprises (SMEs) to enhance inclusive growth, diversification, and employment resilience. • Compliance: The partnership will help local exporters comply with stringent, evolving EU environmental and sustainability regulations. • Current Status: Areas and industries for the project's scope have been discussed, with both agencies committing to close cooperation for implementation, based on initial framework alignment.

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🇬🇧 Strengthening Sri Lanka-UK Economic Ties: Focus on Sri Lanka EXPO 2027 📈

The High Commission of Sri Lanka in the UK, alongside the Sri Lanka–UK Chamber of Commerce (SLUKCC), hosted a roundtable discussion on July 3 to boost bilateral economic relations and prepare for the upcoming Sri Lanka EXPO 2027 in Colombo. • Bilateral Economic Collaboration: British High Commissioner Andrew Patrick and Sri Lankan High Commissioner Nimal Senadheera led discussions in London on expanding trade, investment, and innovation partnerships. • Strategic Trade Drivers: Conversations focused on Sri Lanka's macroeconomic reforms, tourism, education partnerships, tech investments, and leveraging the UK's Developing Countries Trading Scheme (DCTS) for trade growth. • Sri Lanka EXPO 2027: Held in Colombo in January 2027, the High Commission is actively facilitating a UK delegation for the event. • Upcoming Milestones: A high-level Business Forum is scheduled for September 2026 as a precursor to the EXPO to solidify trade and investment frameworks.

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### 🤝 Sri Lanka and Malaysia Exchange Insights to Boost Public Digital Services

• Strategic Dialogue: On the sidelines of global AI and tech summits in Geneva, Switzerland, Dr. Hans Wijayasuriya (Chief Advisor to the President on Digital Economy) met with H.E. Mr. Datuk Abdul Halim bin Hamzah (Secretary-General of the Ministry of Communications of Malaysia). • Focus Areas: The bilateral meeting focused on a productive exchange of strategic approaches and experiences to enhance and deliver high-quality public digital services. • National Context: The collaboration underscores Sri Lanka's ongoing emphasis on strengthening its ICT/BPM and digital infrastructure frameworks through international knowledge sharing.

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🇮🇳🇱🇰 Indian Export Delegation Drives B2B Connections with Sri Lankan Businesses

A 31-member business delegation from the Federation of Indian Export Organisations (FIEO) engaged with local businesses and SMEs at a B2B and networking session hosted by the Ceylon Chamber of Commerce from July 8–10, 2026. • Strategic Collaboration: Organized in partnership with the Indo Lanka Chamber of Commerce and Industry (ILCCI) to foster stronger direct trade ties and commercial linkages between India and Sri Lanka. • Diverse Industry Focus: The Indian delegation comprised Small and Medium Enterprises (SMEs) spanning critical economic sectors, including pharmaceuticals, engineering goods, apparel and textiles, food and agricultural products, and infrastructure. • Key Objectives: Focused on identifying mutual sourcing opportunities, exploring market expansion, and establishing long-term regional partnerships. • Impact for Sri Lanka: Provided Sri Lankan companies and SMEs direct market access to Indian counterparts, creating avenues to diversify trade relationships and explore fresh commercial possibilities.

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📈 ExpoNavigator Program Boosts Eastern Province Export Readiness

The Sri Lanka Export Development Board (EDB), International Finance Corporation (IFC), and the European Union (EU) concluded the 7th Provincial ExpoNavigator Programme in Batticaloa to enhance SME competitiveness under the Sri Lanka Export Excellence Initiative (SLEEI) 2026. Key Figures & Regional Context • GDP Contribution: The Eastern Province currently contributes approximately 5% to the national GDP, with a strategic target to reach 8% by 2030. • Export Representation: The province remains significantly underrepresented, accounting for less than 1% of registered exporters in Sri Lanka. • Program Impact: Nearly 100 export-potential entrepreneurs from the region participated in technical consultations and business advisory services. Sector & Sectoral Highlights • High-potential regional growth sectors identified include agriculture, fisheries, food processing, coconut-based products, spices, and manufacturing value-added industries. • Focused assistance was provided in branding, packaging, quality standards, certification, market intelligence, and access to finance to help transition local businesses into global value chains. Strategic Alignment • The initiative aligns with Sri Lanka's upcoming National Export Development Plan (NEDP) 2026–2029, focusing on expanding the exporter base via regional, youth, and women-led innovative SMEs. • The programme has now expanded across seven provinces: Western, North-Western, Northern, Southern, Sabaragamuwa, Uva, and Eastern Provinces.

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📈 Australia Backs Sri Lanka’s RCEP Bid, Urges Border Digitalisation

Australia has reaffirmed its support for Sri Lanka’s ambition to join the Regional Comprehensive Economic Partnership (RCEP), the world's largest free trade agreement, while emphasizing the need for rapid domestic trade reforms. • Trade Policy & RCEP Integration: High Commissioner Matthew Duckworth described RCEP as crucial economic architecture for the Indo-Pacific that will simplify rules of origin, lower customs barriers, and integrate Sri Lanka into regional supply chains. The private sector, via the Sri Lanka Shippers’ Council (SLSC), was urged to counter protectionist resistance and back these reforms. • Digitalisation & Competitiveness: Australia strongly advocated for the full digitalisation of Sri Lanka’s trade and border procedures. This aligns with national digital economy goals to enhance transparency, improve efficiency, and reduce corruption opportunities. • Maritime & Port Logistics: The strategic importance of the Port of Colombo as a premier transshipment hub was highlighted, noting its capacity to handle ultra-large container vessels. Maritime cooperation remains central to the bilateral relationship, spanning port security and hydrography. • Bilateral Trade & Supply Chains: Australia exports approximately US$ 120 Mn worth of lentils to Sri Lanka annually. Sri Lanka acts as a critical hub in this regional chain by processing and re-exporting these lentils to around 25 countries.

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📈 AmCham Sri Lanka Strengthens US–Sri Lanka Trade Ties at Washington Doorknock 2026

The American Chamber of Commerce in Sri Lanka (AmCham Sri Lanka) successfully represented member interests at the AmChams of Asia Pacific (AAP) Washington Doorknock 2026, held in Washington, D.C., from 21–24 June 2026. Led by President Sandun Hapugoda and Board Director Saneth Gamage, the delegation engaged directly with US policymakers to advance bilateral trade, investment, and economic cooperation. Key Highlights & Outcomes: • Trade & Policy Progress: The delegation advocated for the early conclusion of the US–Sri Lanka bilateral trade agreement. Discussions indicated that negotiations are progressing positively, aiming to bring greater certainty for Sri Lankan exporters, particularly in the apparel & textiles industry. Clarity was also sought regarding the Section 301 investigation affecting Sri Lanka’s manufacturing sector. • Investment & Development Finance: The mission explored enhanced US investment into Sri Lanka. High-level talks with the US International Development Finance Corporation (DFC) focused on securing private-sector backing for critical national areas, including infrastructure, energy, supply chains, financial services, and ICT/BPM drivers like digital connectivity and artificial intelligence. • Strategic Positioning: The delegation positioned Sri Lanka as a trusted, strategic partner within the Indo-Pacific, emphasizing ongoing commitments to improving the investment climate, ease of doing business, and rule-of-law reforms. • Member-Driven Insights: The advocacy positions were backed by six months of extensive local member consultations addressing tariff uncertainties, regulatory predictability, and market access challenges within the US–Sri Lanka commercial corridor.

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📈 Global Economic Strains: IEA, IMF, WBG, and WTO Coordinate Response

Heads of major global institutions met to assess the energy, trade, and economic impact of the war in the Middle East, focusing on vulnerable countries and international trade resilience. • Overall Impact: The global economy has shown broad resilience, though the impact remains highly uneven. Some economies are facing growth slowdowns and heightened inflation, leading to ongoing concerns about price stability and growth. • Energy & Commodities: Fuel and fertilizer prices dropped through June, but energy markets and the transit of goods face continued strains. High uncertainty remains regarding long-term market stability. • Trade & Logistics: Restoring security in the Strait of Hormuz and maintaining global freedom of navigation are critical priorities. Structural recommendations emphasize the need for enhanced port infrastructure, trade facilitation, and supply chain resilience. • Institutional Next Steps: The organizations will closely monitor developments, adapt country-specific support, and work to strengthen national resilience across energy, food, and trade sectors.

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📈 UAE Leads Port City Colombo Investor Interest; South Asian Gap Identified

• Top Investor Markets: The UAE currently dominates foreign investor interest in Port City Colombo at 19%. This is followed by Singapore, China, and the UK at 13% each, the US at 10%, and Australia at 9%. • The South Asian Gap: Despite geographic proximity and regulatory advantages, South Asian countries—particularly India—are notably absent from the top investor list. Project officials highlight this as a primary growth opportunity to attract businesses looking for internationally competitive platforms closer to home. • SEZ Regulatory Perks: Operating as a ring-fenced Special Economic Zone (SEZ), Port City Colombo offers streamlined single-window approvals, unrestricted foreign ownership, enhanced capital mobility, transactions in 16 designated foreign currencies, and the ability to remunerate employees in foreign currency. • Strategic Shift: Aiming to compete with established hubs like Dubai and Singapore, the development represents a shift beyond traditional property developments to attract financial services and regional headquarters. Qualifying businesses also gain access to Sri Lanka’s network of 44 double taxation agreements.

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📈 Developing Asia Leads Global FDI; South Asia Growth Driven by India

• Overall Figures: Developing Asia remained the world's largest foreign direct investment (FDI) destination in 2025, receiving US$ 644 Bn. This accounted for roughly 40% of global FDI and over 70% of total flows into developing economies, based on UNCTAD's World Investment Report 2026. • Subregional Shifts: While inflows declined in East Asia, they surged in South-East Asia, South Asia, West Asia, and Central Asia. South-East Asia emerged as the largest subregional recipient, while South Asia's growth was heavily driven by a 44% spike in FDI inflows into India. • Sector & Industry Focus: Global greenfield investments are rapidly shifting toward strategic sectors like semiconductors, digital infrastructure, artificial intelligence, advanced manufacturing, and energy-transition technologies—together commanding 44% of global greenfield investment in 2025 (up from 16% five years ago). • Market Realities: Concentration remains high, with eight of the top ten developing-economy FDI recipients located in Asia, commanding over 80% of regional flows. High-value sectors continue to see shifts; China's inflows softened from US$ 116 Bn to US$ 105 Bn, though it retained strong commitments in high-value R&D and pharmaceutical manufacturing. • National & Policy Context: In an increasingly competitive landscape, policymakers must shift from mere incentives to improving investment facilitation, domestic supplier ecosystems, reliable energy, logistics, and workforce skills to effectively link FDI to industrial upgrading and employment.

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🍁 Canada-Sri Lanka Ties Strengthen as CanCham Marks 159th Confederation Anniversary

The Canadian Chamber of Commerce in Sri Lanka (CanCham Sri Lanka) celebrated Canada Day, highlighting a strong focus on trade, investment, and positioning Sri Lanka within Canada’s massive CAD 500 Bn, 10-year Indo-Pacific engagement strategy. • Bilateral & Regional Trade: Canadian High Commissioner Isabelle Martin noted rising investor interest in Sri Lanka following its economic recovery, emphasizing that chambers are vital to translating Indo-Pacific policies into practical economic partnerships. • Strategic Sector Focus: A dedicated panel addressed resilient value chains across energy, manufacturing, tourism, and technology/ICT. A newly drafted Five-Year Strategic Tourism Development Plan was presented, with finalization expected within 60 days to boost investment and marketing linkages. • Chamber Milestones & Future Plans: Established on December 21, 2025, CanCham has expanded via partnerships in global health and education. Upcoming initiatives later this year include: A business delegation to Toronto, Montreal, and Vancouver targeting real estate, fintech, education, and tourism. Launching scholarships for low-income students. A climate-focused sustainable development forum in early 2027.

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Corporate News

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📈 BPPL’s Beira Brush Acquires Ravi Industries Customer Base in Strategic Regional Push

• Strategic Acquisition: BPPL Holdings PLC, through its subsidiary Beira Brush (Private) Limited, has entered into a Business Transfer Agreement (BTA) to acquire the entire customer base, "Ravi" trademark, and associated intellectual property of Ravi Industries Limited (RIL). • Deal Structure & Valuation: The transaction features a performance-linked payment schedule spread over a five-year period. Annual installments will be tied directly to revenue generated from the acquired customer base. The minimum envisaged total consideration for the five-year term is Rs. 300 Mn. • Operational Efficiency: The integration of RIL’s customer production into Beira Brush’s existing manufacturing facilities aims to unlock synergies, optimize operations, and reduce overhead costs. • Regional Footprint: This consolidation is projected to elevate Beira Brush's standing on the global stage, positioning it among the largest manufacturers of industrial brush-ware in Asia.

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📈 Lanka IOC PLC Successfully Concludes 24th AGM, Reaffirms Growth Plans

• Overall Event & Governance: Lanka IOC PLC held its 24th Annual General Meeting (AGM) on July 9, 2026. Shareholders approved the Audited Financial Statements for the financial year ended March 31, 2026, alongside dividend declarations, the re-election of Directors, and the appointment of External Auditors. • Performance & Operations: Despite challenges from global geopolitical uncertainties, volatile international energy markets, and shifting domestic conditions, the company maintained an uninterrupted supply of petroleum products across Sri Lanka while strengthening its operational capabilities. • Strategic Focus & Diversification: Key future priorities highlight investments in digital transformation, retail network expansion, and the growth of the lubricants and petrochemical businesses. • Sustainability & National Role: The company is pursuing sustainable energy opportunities, including renewable energy projects and electric vehicle charging infrastructure via strategic partnerships. The initiatives aim to support Sri Lanka's energy security and contribute to national economic development.

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📈 Alpha Fire to Acquire Icon Engineering for Rs. 260M in Strategic Expansion

• The Deal: Listed fire protection firm Alpha Fire Services PLC plans to acquire 100% of Icon Engineering Enterprises Ltd. for Rs. 260 million. The transaction will be settled via a share swap of 9,122,807 new ordinary shares in Alpha Fire at Rs. 28.50 per share. • Strategic Impact: Combining Alpha Fire’s fire protection services with Icon's HVAC (heating, ventilation, and air conditioning) expertise transforms the group into a full-service mechanical, electrical, and plumbing (MEP) turnkey solutions provider. • Financial Outlook: The combined entity's annual revenue is projected to exceed Rs. 1 billion, with overall profitability expected to increase by 30%. • Forex Boost: The acquisition is set to enhance foreign currency earnings through Icon Engineering's active project portfolio in the Maldives, which generates US dollar revenue. • Transaction Details: Based on a KPMG valuation, the share swap will give the sellers (including Mayfair Capital and Directors K.M.A.V. Fernando and J.A.R. Wijeyesinghe) a collective 19.38% stake in Alpha Fire's enlarged capital. • Regulatory Status: Deemed a major and related-party transaction, the deal has been cleared by the Related Party Transactions Review Committee as "arm's length" but remains subject to Colombo Stock Exchange (CSE) and shareholder approvals.

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Global Leaders to Address Sri Lanka Corporate Director Summit 2026 📈

The Sri Lanka Institute of Directors (SLID) will host the Corporate Director Summit 2026 on 22 July at Cinnamon Grand Colombo, featuring two prominent Asian business leaders to discuss governance, resilience, and global growth strategies. • Keynote Speakers & Themes: • Dr. Binod K. Chaudhary (Chairman/President, CG Corp Global): Nepal’s first billionaire will speak at the fireside chat ‘Future-Ready Sri Lankan Boards: The Road Ahead.’ His session, ‘Beyond Borders, Beyond Limits: How Directors Can Build Global Ambition from Small Markets,’ will focus on fostering innovation and competing globally. • Dillip Rajakarier (Group CEO, Minor International & Minor Hotels): Will deliver a keynote address titled ‘Global Supply Chain and Impact on Boards,’ focusing on geopolitical shifts, strategic oversight, and supply chain resilience. • Summit Focus & Relevance: • The event is themed ‘Future-Ready Sri Lankan Directors – From Compliance to Sustainable Growth.’ • It aims to equip board directors, CEOs, and policymakers with insights on navigating global disruption and building resilient organisations. • The sessions emphasize shifts toward international diversification, strategic governance, and sustainable corporate leadership, which are critical for the development of Sri Lanka's broader corporate ecosystem.

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📈 Senkadagala Finance Posts Record Rs. 2.05 Bn Group Profit in FY 2025/26

Overall Figures • Group Profit After Tax: Reached a record Rs. 2.05 Bn, growing 16% YoY. • Company-Level Profit: Stood at Rs. 1.85 Bn, a 14% increase YoY. • Total Assets: Expanded by 40% to cross the milestone at Rs. 57.1 Bn. • Net Interest Income: Rose by 9% YoY to reach Rs. 6.25 Bn. Core Lending & Performance Metrics • Core Lending Portfolio: Finance leasing and hire purchases rose from Rs. 26.5 Bn to Rs. 34.6 Bn due to strong demand for vehicle and asset financing. • Net Interest Margin: Reached 14.50%, outperforming the sector average of 10.01%. • Return on Equity (ROE): Recorded at 16.42%. • Cost to Income Ratio: Managed efficiently at 42.62% versus the industry's 46.92%. Asset Quality & Capital Position • Asset Quality: The Gross Stage 3 loans ratio improved, declining to 5.43% from 7.24% the previous year. Total provision coverage ratio stood at 7.18%. • Capital & Liquidity: Raised Rs. 1.035 Bn in fresh equity via a Rights Issue in February 2026. Total equity closed at Rs. 12.57 Bn. • Capital Adequacy Ratio: Stood strong at 23.84%, well above the 12.50% regulatory floor. Available liquid assets reached 485% of the required level (Rs. 8.89 Bn). • Credit Rating: Maintained a BBB (lka) rating with a stable outlook by Fitch Ratings Lanka. Footprint & Workforce • Network Expansion: Opened 24 new branches during the year, reaching a landmark 150th branch in June 2026. • Employment: The workforce expanded by 23% to 1,215 employees, supporting domestic job creation amid the expanding lending network.

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📈 Hambantota International Port (HIP) Achieves Record June RoRo & Container Volumes

Hambantota International Port (HIP) has recorded its highest-ever monthly throughput for June 2026, driven by operational preparedness amid Middle East shipping route uncertainties. • Key Volumes & Milestones: RoRo (Vehicles): Handled a record 90,219 vehicles in June 2026. Containers: Reached a record monthly throughput of 80,325 TEUs. Single-Vessel Record: Hit a single-vessel peak earlier in April 2026, handling 13,260 TEUs on the MSC Marie Leslie. • Historical Performance & Growth: 2025 Growth: Total cargo throughput rose 175% YoY to 8.24 million metric tonnes. Container Surge: Container volumes skyrocketed from 53,169 TEUs in 2024 to 428,036 TEUs in 2025, positioning the port as an emerging transhipment & logistics hub alongside its shipping & marine services. • Infrastructure & Capacity Expansion: Doubled its RoRo yard capacity and expanded container yard space by 30% earlier this year. Committed US$ 108 Mn for new container handling equipment, aiming to boost annual container terminal capacity to 2 million TEUs to support national trade diversification.

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MSC in Talks to Acquire Stake in Hambantota Port 🚢

• Strategic Expansion: Mediterranean Shipping Co. (MSC), the global container carrier, is in negotiations to acquire a significant stake in the Hambantota International Port as part of a wider recalibration of its hub activities in the Indian Ocean region. • The Players: MSC is actively engaging with China Merchants Port Holdings (CMPort)—which currently holds an 85% stake in the facility—and Sri Lankan authorities. The Sri Lanka Ports Authority (SLPA) retains the remaining 15% stake. • Transaction Details: No official terms, valuation, or transaction structures have been disclosed. Negotiations remain ongoing, based on local industry sources, with an official announcement expected in the near future. • Economic Context: A potential investment by MSC represents a major shift in regional infrastructure strategy, positioning Hambantota as a key focus hub. This move could significantly impact Sri Lanka's maritime & logistics sector, driving regional trade integration and hub competitiveness.

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⚖️ Court Affirms Baby Cheramy's Exclusive Brand Rights Against Imitation

The Ruling: The court unequivocally upheld Baby Cheramy’s sole and lawful ownership of its brand name and intellectual property, reinforcing its legal protections in the Sri Lankan market. The Dispute: The legal action was initiated against a deceptively similar imitation brand operating under the name ‘Baby Sherami’, which had created visual, phonetic, and conceptual confusion among consumers and trade partners. Market Impact: The verdict prevents fake or misleading products from entering the market, protecting the consumer goods and manufacturing sector's integrity and safeguarding consumer trust. Future Actions: Legal representatives stated that immediate and decisive legal measures will continue against any entity attempting to replicate the brand. Consumers, retailers, and distributors have been urged to remain vigilant to ensure they stock and purchase only genuine products.

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🇪🇬 Emerald Investments to Manage Hela Clothing Egypt Amid Capital Constraints

• Hela Apparel Holdings PLC has signed a Management Service Agreement with Emerald Investments Ltd. to oversee its Egyptian manufacturing facility, effective from June 7, 2026, until December 31, 2026. • The move comes as Hela Clothing Egypt S.A.E. faces severe working capital challenges, prompting an operational stabilization program to protect revenue generation and ensure order continuity for global brands. • Under the agreement, Emerald Investments will manage manufacturing operations and personnel. Backed by its expertise in the apparel & textiles sector, Emerald also holds an option to fully acquire the Egyptian subsidiary, subject to terms with Hela and its creditors. • Hela Investment Holdings currently holds a 99% stake in the Egypt-based export facility.

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📈 SLID and SEC to Enhance Collaboration for Stronger Corporate Governance

The Sri Lanka Institute of Directors (SLID) and the Securities and Exchange Commission (SEC) of Sri Lanka have met to discuss new opportunities for enhanced collaboration, focusing on building corporate capacity and improving boardroom standards. • Key Objectives: The partnership aims to strengthen director bench strength, elevate boardroom capabilities, and advance capacity-building initiatives. These efforts are designed to support stronger corporate governance standards across the country. • National Impact: The collaboration intends to contribute directly toward strengthening investor confidence, enhancing governance excellence, and supporting Sri Lanka’s ambition to build a more competitive and resilient corporate sector. • Upcoming Summit: The discussions highlighted the upcoming Sri Lanka National Corporate Directors Summit 2026. This event will bring together local corporate directors and international governance experts to share global practices and insights on building future-ready boards.

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📈 SLID Hosts Corporate Director Summit 2026 to Build Future-Ready Boards

The Sri Lanka Institute of Directors (SLID) will host the Sri Lanka Corporate Director Summit 2026 on 22nd July 2026 at Cinnamon Grand Colombo. Marking SLID's 25th anniversary, the premier governance forum aims to equip business leaders to transition from traditional compliance to becoming strategic drivers of growth, resilience, and innovation. Key Highlights & Session Breakdowns: • Strategic Governance: Keynote address "Future-Ready Sri Lankan Boards: From Compliance to Sustainable Growth" will draw lessons from emerging economies like India to enhance national competitiveness and attract foreign investment. • Technology & Digital Risk: A dedicated session will address board oversight of ICT/BPM relevant themes, focusing on governing AI, cyber resilience, data governance, and emerging digital risks. • Reputation & ESG: Sessions will focus on building stakeholder trust, transparency, ESG considerations, ethical leadership, and navigating corporate reputation through economic uncertainty. • Talent & Culture: Discussions will center on workforce transformation, succession planning, and the board's role in aligning talent with long-term organizational value. • Economic Impact: Proceedings will conclude with a fireside chat on how globally credible governance practices can directly boost Sri Lanka’s economic growth and investment attractiveness. _Note: Held in strategic partnership with Deloitte Sri Lanka, alongside knowledge partnerships with CPA, Ma Foi, and the University of Buckingham._

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📈 Aravinda de Silva’s Arcasia Holdings to Acquire Controlling Stake in Industrial Asphalts PLC

Arcasia Investment & Trading (Pvt) Ltd, backed by Arcasia Holdings founded by legendary cricketer Aravinda de Silva, alongside ATX Partners (Pvt) Ltd, has entered into binding agreements to acquire a 50.16% controlling stake in Industrial Asphalts (Ceylon) PLC. • Transaction Details: The acquiring consortium signed agreements on July 7 to purchase a combined total of 1,880,693,010 ordinary voting shares. • Share Breakdown: The acquisition includes 1,800,693,010 shares (approx. 48.03%) from Executive Director Govindasamy Ramanan and an additional 80,000,000 shares (approx. 2.13%) from Srikumar Balasubramaniyam. • Mandatory Offer Triggered: Because the acquisition crosses the 30% regulatory threshold under the Company Take-overs and Mergers Code 1995, the consortium will launch a mandatory offer to buy all remaining ordinary voting shares. • Next Steps: The final offer price and specific terms will be officially disclosed once the Securities and Exchange Commission of Sri Lanka grants necessary approvals.

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Product & Service Launches / Business Expansions

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Yamaha Launches Flagship Concept Showroom in Borella 🏍️

Associated Motorways (Private) Limited (AMW), the official distributor for Yamaha, has unveiled Yamaha’s flagship Concept Showroom in Borella, marking the brand’s 45-year presence in Sri Lanka. • The Development: Yamaha’s long-standing Borella location has been transformed into a modern, integrated retail destination designed around international standards to provide an elevated, immersive customer experience. • Product Range: The showroom brings Yamaha’s entire local portfolio under one roof, including performance motorcycles (such as the FZ, R15, and MT-15), practical scooters (RayZR), Outboard Motors (OBM), water vehicles, genuine spare parts, official merchandise, and accessories. • Key Dignitaries: The opening ceremony was attended by high-profile local and international guests, including Naoaki Kamoshida (Chargé d’Affaires ad interim of Japan to Sri Lanka), Hajime Aota (Chairman, Yamaha Motor India Group), senior leadership from AMW's parent group Al Futtaim, and Sri Lankan motorsport icon Dilantha Malagamuwa. • Strategic Impact: The investment represents a major upgrade in automotive retail and customer experience in Sri Lanka, combining sales, expert guidance, and after-sales support in a single concept space.

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📈 Keells Joins Dialog Pay Merchant Ecosystem for Nationwide Digital Payments

Dialog Axiata PLC and Keells Supermarkets have partnered to enable secure digital payments via Dialog Pay across all 150 Keells stores island-wide. This collaboration marks Keells as one of the first major retail partners in the Dialog Pay ecosystem. • Key Transaction Details: Customers can utilize a seamless scan-and-pay system at checkouts, earning complimentary Dialog data rewards on eligible transactions. • Ecosystem Integration: Dialog Pay operates via the Dialog Pay and MyDialog apps. Users can activate it using an eZ Cash account or by linking a preferred bank account to facilitate LankaQR payments. • Financial Services & Reach: Beyond payments, the platform supports fund transfers, digital wallets, savings accounts, fixed deposits, and loans via Dialog Finance. Dialog Pay is currently accepted at over 100,000 retail outlets nationwide. • Economic Impact: The partnership aims to drive greater everyday adoption of digital financial services, supporting Sri Lanka’s transition toward a more digitally connected and cash-light economy.

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⚡ JKCG Auto & Green EV Partner to Build Island-wide EV Charging Network

• Strategic Collaboration: John Keells CG Auto (JKCG Auto), the authorized distributor for BYD and Denza, signed an MOU with Green EV to significantly expand Sri Lanka’s New Energy Vehicle (NEV) ecosystem. • Network Infrastructure: BYD and Denza owners gain seamless access to Green EV’s public network of 100+ DC fast chargers (including 120kW ultra-fast units) and 70 AC chargers, spanning 20 districts across all nine provinces. • Existing Footprint: This addition expands JKCG Auto's current framework, which already includes 100+ island-wide DC fast chargers and standard 7kW home chargers provided to customers. • Market Share & Support: BYD currently commands approximately 70% of cumulative electric vehicle registrations in Sri Lanka. JKCG Auto has completed over 26,500 vehicle services across its nationwide service network and dedicated body shop in Seeduwa. • Risk Mitigation: Green EV has secured a LKR 100 Mn comprehensive insurance cover from SLIC for every charging station to ensure user safety and peace of mind.

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🟢 LOLC Al-Falaah Launches Sri Lanka’s First Tawarruq Personal Finance Solution

LOLC Al-Falaah has introduced "Al-Falaah Tawarruq for Personal Finance," marking the country’s first structured, Tawarruq-based Islamic liquidity solution. The pioneering product is designed to meet the growing domestic demand for alternate, ethically grounded financial services. • Core Mechanism: The solution utilizes Tawarruq, a globally recognized Islamic finance concept where a commodity is bought on a deferred payment via a Murabaha (cost-plus-profit) agreement and sold to a third party for spot cash, generating clean liquidity. • Targeted Needs: Designed to enhance financial inclusion, the facility supports various retail and business needs, including education, healthcare, business expansion, and personal commitments. • Operational Role: LOLC Al-Falaah acts as the appointed agent to facilitate the purchasing and resale transactions, ensuring compliance with Islamic economic principles and automated convenience for the end user. • Strategic Impact: The product formalizes the structured Tawarruq framework within Sri Lanka's financial sector, expanding access to faith-based financial solutions and supporting the broader alternate finance ecosystem.

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📈 Pan Asia Bank Launches First Mastercard Debit Card with Uniquely Sri Lankan Design

Pan Asia Bank has officially expanded its partnership with Mastercard by launching its first-ever Mastercard Debit Card, moving beyond its existing credit card offerings to enhance secure, cashless transactions for its retail banking customers. • Key Highlights & Security: The new product is a globally accepted, vertical World Debit card designed for today’s digitally connected consumers. It integrates enhanced security features for seamless everyday transactions across millions of global acceptance points, both locally and internationally. • Economic & Tourism Alignment: Embodying the bank's identity as 'The Truly Sri Lankan Bank', the card's visual design features an artistic impression of the Idalgashinna Railway Station. Management noted this choice aims to leverage daily banking touchpoints to actively promote Sri Lanka’s cultural and tourism assets. • Strategic Value: According to the bank's leadership, this roll-out marks a significant milestone in accelerating digital payments and innovation within Sri Lanka's financial sector, combining national heritage with global payment capabilities. (Based on official corporate release)

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📈 Sri Lanka Tourism Boosts Indian Footprint with Gujarat Roadshows

The Sri Lanka Tourism Promotion Bureau (SLTPB) successfully concluded a targeted B2B roadshow series across Surat, Rajkot, and Ahmedabad to capture Gujarat's high-income outbound market and boost tourism & hospitality arrivals. • Event Scale: Featured 48 leading Sri Lankan travel and tourism companies, including national carrier SriLankan Airlines and private carrier FitsAir. It drew massive engagement from over 550 travel agents and 60+ media representatives across Western India. • Strategic Market Focus: Gujarat is identified as a premier growth hub driven by high disposable incomes and strong demand for short-haul travel (3–7 days), luxury customized packages, MICE (Meetings, Incentives, Conferences, Exhibitions), and destination weddings. • Enhanced Connectivity: The roadshows strategically coincided with the 19 June 2026 launch of FitsAir’s direct flights between Ahmedabad and Sri Lanka. This new direct route is expected to significantly reduce travel friction and drive immediate visitor volume from Western India. • Key Backing: Supported heavily by local industry heavyweights including the Sri Lanka Association of Inbound Tour Operators (SLAITO) alongside major Indian travel trade bodies (TAAI, TAFI, SGCCI) to secure long-term commercial partnerships.

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🇨🇭 Swiss Hospitality Training Launch in Sri Lanka

The Asia Pacific Institute of Information Technology (APIIT) has officially inaugurated the APIIT School of Hospitality & Tourism in collaboration with the Hotel and Tourism Management Institute (HTMi) Switzerland at its Baybrook Campus. The partnership marks a significant development for Sri Lanka's hospitality & tourism sector, aiming to boost local employment and global mobility. • Academic Pathways & Structure: Offers progressive qualifications ranging from a Certificate up to a BSc (Hons) in International Hospitality Management. Entry routes are available after O/Ls (four-year degree) or A/Ls (three-year degree). • Industry Exposure: Each academic year combines a 24-week taught semester with a six-month mandatory paid internship at 4-star and 5-star properties, ensuring graduates secure 18–24 months of validated workplace experience. • Immersive Ecosystem: Includes industry-grade culinary labs and a residential training hub at Bolgoda Lake, mirroring HTMi Switzerland's "Campus-Hotel" model to deliver real-world operational experience from day one. • Employability & Global Mobility: Features intensive Professional Language Training and structured career coaching (CV writing, interviews, and personal branding) to prepare graduates for direct entry into European and global markets. The initiative is supported by strategic alliances focusing on scholarships, premium hotel placements, and accredited language training. Enrolment for the inaugural cohort is now active via structured interviews and placement testing.

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CWIT Phase 2 Progresses with Tallest Electric Cranes in the Region 📈

• Overall Figures & Investment: The Colombo West International Terminal (CWIT), an infrastructure project valued at approx. US$ 800 Mn, has officially commenced its Phase 2 capacity development. CWIT is a public-private partnership between Adani Ports, John Keells Holdings, and the Sri Lanka Ports Authority. • Key Milestones: The terminal handled 1.02 Mn TEUs (twenty-foot equivalent units) in its inaugural year, making it the fastest terminal at the Port of Colombo to reach this milestone. Upon full completion, CWIT will feature a 1,400m quay and a 20m depth, expanding its annual handling capacity to approx. 3.2 Mn TEUs. • Infrastructure Upgrades: The newly arrived equipment includes 2 Ship-to-Shore (STS) electric cranes and 7 Cantilever Rail Mounted Gantry Cranes (CRMGs). An additional 4 STS cranes and 5 CRMGs are expected by late September 2026, bringing the total fleet to 14 STS and 30 CRMGs to drive efficiency and sustainable maritime & logistics hub capabilities.

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📈 BOC Launches Sri Lanka’s First Mobile Banking Wallet Tap & Pay

The Bank of Ceylon (BOC) has officially launched "BOC Flex – Tap & Pay," marking the country’s first mobile banking wallet-based contactless payment solution. Introduced on July 9, 2026, the feature integrates virtual card technology into the BOC Flex app to enable cardless transactions at NFC-enabled Point-of-Sale (POS) terminals and online merchants. • Core Innovation: Combines a digital wallet with a Virtual Card ecosystem. Customers can manage up to three virtual cards, instantly suspend or reactivate them via self-service, and utilize an Auto Top-Up feature linked directly to their BOC accounts. • National Alignment: The solution supports Sri Lanka's transition toward a cash-lite economy, fostering financial inclusion and backing the government's Digital Economy agenda. • Strategic Sector Impact: Accelerates local ICT/BPM and digital financial infrastructure adoption by migrating traditional cash handling into a secure, digitized framework. • Global & Local Recognition: The underlying BOC Flex platform—originally launched in March 2025—recently secured three accolades at the Digital CX Awards 2026 in Singapore, becoming the first Sri Lankan banking application to achieve this specific international recognition.

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📈 Hayleys Aventura Unveils Sri Lanka’s First Automated Rotary Parking System

Urban Infrastructure Innovation: Hayleys Aventura (Pvt) Ltd, a subsidiary of Hayleys PLC, has commissioned Sri Lanka's first outdoor automated rotary parking system to address limited urban parking space. Key System Features: The smart parking mechanism automatically rotates platforms to ground level, retrieves vehicles within a maximum of 2.5 minutes, and utilizes restricted access control for enhanced security. It eliminates the need for conventional ramps and large circulation areas. Track Record & Portfolio: This milestone builds on previous deployments, including a 40-car automated pit-puzzle system in Bandarawela and 45 two-post stack units in Colombo 03. Hayleys Aventura's broader portfolio includes stack, puzzle, and fully automatic parking systems, alongside car elevators and turntables. Economic & Urban Impact: Supported by local engineering expertise and global partnerships, the solutions target residential, commercial, and mixed-use developments to maximize land utilization and support smarter urban infrastructure.

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📈 Port City Seeks Global Operators for University, Hospital, and School

The Colombo Port City Economic Commission will shortly invite Requests for Proposals (RFPs) for an international university, hospital, and school to build the institutional foundations required to attract multinational companies and skilled professionals. • Key Infrastructure: Globally recognized education and healthcare facilities are deemed fundamental to Port City's success as a Special Economic Zone (SEZ). They are expected to strengthen domestic sectors and reduce foreign exchange outflows for overseas education and medical treatment. • Dollarised Regime: Operating as a service-centric SEZ serving overseas markets, transactions are currently permitted in 14 foreign currencies under a dollarised framework. • Talent Supply & Visas: Commission Chairman Harsha Amarasekera highlighted that a shortage of skilled local technology professionals constrains large ICT/BPM investments. As a transitional measure for knowledge transfer, companies can recruit foreign professionals (e.g., from India). Transferred personnel can obtain visas within 4 days. • Project Timeline: 5 developments are currently under construction. An additional 5 are targeted for award by year-end, with 2 smaller projects slated for completion before December 2026 to accelerate commercial operations. • Land Ownership: The Commission reiterated that all reclaimed land remains 100% owned by the Government of Sri Lanka and vested in the Commission, with specific parcels leased to the developer solely to recover reclamation costs.

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📈 Govt Plans "Silicone City" Industrial Park in Nattandiya

• Project Overview: The Government is considering the establishment of a modern silicon-based industrial park, dubbed “Silicone City,” in Nattandiya. • Resource Utilization: The proposed industrial park will utilize silica sand deposits located on National Livestock Development Board (NLDB) land in the Mahawewa Horakelle Wattha area. • Economic Context: This initiative leverages local raw materials for high-value industrial development, aligning with efforts toward economic diversification within the manufacturing and industrial sectors. _Note: Based on initial provisional reports._

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Economic News

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📈 Pre-Budget 2027: President Reviews Industrial Progress & Institutional Consolidation

President Anura Kumara Dissanayake chaired a pre-Budget discussion to review the 2026 progress and 2027 Budget proposals for the Ministry of Industry and Entrepreneurship Development. Key Highlights: • Industrial Zones: Reviewed infrastructure development (electricity, water, roads) and land allocation issues for upcoming zones in Dambulla, Ingiriya, Valachchenai, Millaniya, and Katunayake. • Institutional Consolidation: Plans are underway to merge overlapping state institutions to improve efficiency and reduce operational expenditures funded by taxpayers. • New Transformation Authority: Officials briefed the President on establishing the Entrepreneurship and Industry Transformation Authority (EITA) to streamline sectoral development. • State-Owned Enterprises (SOEs): Highlighted alternative proposals to resolve deep-seated issues currently affecting the sugar and salt industries. • Exporter & Industrialist Support: The President directed officials to draft general concession proposals to support local industries and encourage export growth. The directive emphasized completing existing projects within timelines and identifying niche industrial areas where Sri Lanka can develop distinctive global expertise.

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📊 Debate Intensifies Over Cutting Sri Lanka’s Inflation Target to 2%

The discussion around reducing Sri Lanka's medium-term inflation target from 5% to 2% hinges on domestic economic readiness rather than international norms, according to a commentary by a Central Bank of Sri Lanka (CBSL) Assistant Governor. Enforcing a 2% target at this stage is deemed premature and potentially counterproductive. • Overall Framework & Volatility Sri Lanka operates under a flexible inflation targeting (FIT) regime with a 5% target (±2% margin), legalized via the Monetary Policy Framework Agreement in October 2023. Inflation has been highly volatile, peaking near 70% in 2022, dropping to 3% in 2023, turning negative around 2025, and rebounding toward 6% by mid-2026. This is heavily driven by supply-side disruptions, global prices, and exchange rate movements rather than standard demand. • Downside Risks of a 2% Target Growth & Investment: Achieving 2% would require high real interest rates and prolonged tightening, dampening private investment and delaying recovery. Employment & Incomes: Tighter policy would slow job creation and wage growth, heavily hitting credit-sensitive sectors like construction and SMEs. Public Debt Dynamics: Lower inflation reduces nominal GDP growth, weakening the denominator effect and slowing down public debt ratio reduction while increasing real debt-servicing costs. Financial Sector & Exchange Rate: Prolonged tight conditions risk raising non-performing loans (NPLs) and compressing bank lending. It also limits the exchange rate's function as an external shock absorber. • Policy Flexibility & Global Lessons A 2% target restricts policy space, risking monetary overreaction to temporary supply shocks. International experience shows that emerging markets sustain higher targets due to external vulnerabilities. Transitioning to lower targets requires gradual structural improvements, fiscal discipline, and anchored expectations rather than a sudden numerical adjustment.

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📈 Sri Lanka Budget Surplus Widens to Rs. 197.3 Bn through May on Robust Revenue Growth

Sri Lanka’s fiscal position strengthened significantly during the first five months of 2026, reversing a Rs. 236.63 Bn deficit from the same period last year into a substantial overall budget surplus, driven by strong revenue collection outpacing expenditure. Overall Figures & Revenue: • Overall Budget Balance: Recorded a surplus of Rs. 197.34 Bn (vs. a deficit of Rs. 236.63 Bn in Jan-May 2025). • Total Revenue & Grants: Increased by 30.6% YoY to Rs. 2.54 Tn. • Tax Revenue: Rose 23.9% YoY to Rs. 2.32 Tn, forming the bulk of state income. • Non-Tax Revenue: Jumped 54.2% YoY to Rs. 211.84 Bn. Grants fell to Rs. 1.34 Bn. Expenditure Breakdown: • Total Expenditure: Grew moderately by 7.3% YoY to Rs. 2.34 Tn, showing continued fiscal discipline. • Recurrent Expenditure: Increased by 5.5% YoY to Rs. 2.11 Tn. • Capital Expenditure: Climbed 29.3% YoY to Rs. 226.83 Bn, reflecting accelerated public investment. Key Program Indicators: • Primary Surplus: Expanded by 52.3% YoY to Rs. 1.13 Tn (vs. Rs. 742.92 Bn in 2025), a key metric under Sri Lanka’s IMF-supported reform program. • Outlook: Following temporary fiscal easing in 2026, the government aims to restore the primary surplus target to 2.3% of GDP by 2027. The IMF emphasizes structural improvements in tax compliance, broader tax bases, and faster execution of public spending alongside state-owned enterprise reforms to safeguard macroeconomic stability. (Based on Central Bank of Sri Lanka data)

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📆 Sri Lanka’s Budget 2027 Timeline Formally Announced

The Finance Ministry has outlined the official timetable for the preparation and passage of the 2027 Appropriation Bill through Parliament, setting key legislative milestones for the upcoming fiscal year. • Key Schedule & Legislative Milestones: 14 September: Draft Appropriation Bill outlining proposed expenditure allocations per Ministry to be submitted for Cabinet approval. 18 September: Publication of the Appropriation Bill in the Government Gazette. 7 October: First Reading of the Bill in Parliament. 12 November: Second Reading and the official Budget 2027 speech. • Debate and Approval Window: 13 – 20 November: Second Reading debate in Parliament. 21 November – 14 December: Committee Stage debate to run consecutively, concluding the final voting process. This structured timeline ensures national expenditure plans undergo full parliamentary review, impacting broader economic policy and state-sector expenditure allocations for 2027.

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📈 Private Sector Credit Rebounds to Surpass Rs. 11 Trillion in May

Private sector borrowing from the Sri Lankan banking system regained strong momentum in May 2026, marking the fourth-highest borrowing month in the past year despite recent currency pressures and policy tightening. • Overall Credit Figures Total outstanding credit to the private sector rose by 2.2% month-on-month (M-o-M) to Rs. 11.04 Tn in May (up from Rs. 10.8 Tn in April). Year-on-year (YoY) private sector credit growth accelerated to 27.8%. • Banking Sector Breakdown Domestic Banking Units (DBUs) grew 2.3% M-o-M to Rs. 10.47 Tn (+30.2% YoY). Offshore Banking Units (OBUs) edged up 0.8% M-o-M to Rs. 563.8 Bn, though contracting 4.3% YoY. • Public Sector and SOEs Net credit to the Government rose slightly M-o-M to Rs. 8.16 Tn, but declined 3.4% YoY. Credit to State-owned enterprises (SOEs) and public corporations stood at Rs. 493.5 Bn, contracting sharply by 22.6% YoY. • Policy & Currency Context To curb credit-driven import demand following sharp local currency depreciation, the Central Bank of Sri Lanka (CBSL) raised the Overnight Policy Rate (OPR) by 100 bps to 8.75% in late May. The Sri Lankan Rupee's year-to-date (YTD) depreciation widened from 1.4% in March to 5.4% by end-May, before sliding to 7.9% recently. • Monetary Aggregates Broad money (M2b) expanded by 12% YoY in May (up from 11.6% in April), while reserve money increased by 16.1% YoY, indicating continued monetary expansion alongside the credit pick-up.

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📈 Record Highs: Sri Lanka Workers' Remittances Hit Over US$ 4.6 Bn in 1H 2026

Sri Lanka’s workers' remittances reached historic levels in the first half of 2026 based on official data from the Central Bank of Sri Lanka (CBSL), providing essential support to external reserves and macroeconomic stability. • Overall Performance: Cumulative inflows for Jan-June 2026 rose by 23.2% YoY to over US$ 4.6 Bn, recording the strongest first-half performance in history. • June Inflow Trends: June inflows grew 9.3% YoY to US$ 695 Mn, marking the sixth consecutive month of robust growth. However, inflows registered an 18% month-on-month dip compared to May, making it the lowest monthly figure recorded so far in 2026. • National Context & Recovery: Remittances reinforce their position as Sri Lanka’s single largest and most reliable source of foreign exchange, especially as export earnings and tourism face external pressures. The 2026 momentum follows an all-time annual high in 2025 of US$ 8.07 Bn (up 23% YoY), reflecting a sustained post-crisis recovery since the 2022 low of US$ 3.78 Bn.

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📈 Governance Beyond Politics: Sri Lanka's Next Phase of Recovery

Sri Lanka has transitioned from immediate economic emergency to macroeconomic stabilization. However, international financial bodies and policy experts emphasize that long-term survival depends on moving beyond political narratives toward structural transformation. • Overall Stability & Economic Growth Sri Lanka has emerged from its worst post-independence crisis with controlled inflation, improved external balances, and progressing debt restructuring under IMF support. While the immediate emergency has passed, the World Bank warns that poverty remains elevated, and real household incomes continue to face downward pressure. • Critical Sector Reform Priorities Private-Sector Investment: Essential for employment. Investors prioritize regulatory certainty, judicial credibility, and policy consistency over political confrontation. Productivity & Diversification: Long-term competitiveness relies heavily on digital transformation, modern agriculture, and export diversification to drive growth. Accountability & Governance: Anti-corruption efforts are vital for public trust but must remain impartial and balanced alongside public service delivery. • Key Performance Scorecard To gauge progress objectively, governance success should be measured by sustainable GDP growth, rising Foreign Direct Investment (FDI), creation of productive jobs, and declining poverty rather than political controversies. _Note: Summarized based on published analytical commentary and provisional institutional assessments._ --- This [Sri Lankan Economic News Update](https://www.youtube.com/watch?v=uy4LXV1GEGw) provides a helpful visual overview of the nation's key growth indicators and developmental updates heading into 2026.

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📈 Sri Lanka’s Economic Stability Hides Deep Vulnerabilities

Provisional insights warn that Sri Lanka's current stability—marked by lower inflation and resolved shortages—is not true resilience. Without opening immediate foreign exchange (FX) paths, the country remains highly exposed to external debt repayments and global shocks. • The Core Strategy: Net Foreign Currency Contribution (NFCC) Sri Lanka must shift focus from gross revenue to NFCC, prioritizing sectors that maximize local value addition and minimize import dependence. The Board of Investment (BOI) is proposed as a centralized national platform to screen and fast-track practical FX proposals. • Key Actionable Sectors for FX Activation Professional service exports: Transitioning skilled talent in engineering design, accounting, and software support to serve global clients directly. Wellness & medical tourism: Establishing a transaction-ready network for surgical-medical tourism, long-stay care, and Ayurveda. Apparel & manufacturing (Local Sourcing): Overhauling the tax structure to promote export-linked import replacement, enabling BOI exporters to source inputs locally rather than importing. Entrepôt & re-export trade: Activating customs-bonded free trade zones as logistics and export trading hubs to capture global trade flows. Education & technical hubs: Attracting regional students through vocational training, alongside setting up regional machinery repair and certification hubs. • Implementation Blueprint The country must adopt a swift, two-track approach: executing immediately visible opportunities through small, dedicated activation cells, while simultaneously building a continuous pipeline for long-term projects. Success will be measured by completed transactions and obstacles removed, rather than policy papers written.

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📈 Sri Lanka’s Food Security & Import Dependence Under Spotlight

A historical analysis of Sri Lanka's food security highlights critical vulnerabilities in essential commodity supply chains alongside policy gaps in national planning. • Current Import Reliance: Sri Lanka remains highly vulnerable to global disruptions (war, fuel crises, shipping lockouts). Key daily essentials face heavy import dependence, with milk powder imported up to 85% and sugar up to 95%. Staple meals rely heavily on imported onions, potatoes, dhal, and dry chilies, while the poultry sector remains at risk due to a resurgence in maize imports for animal feed. • Successful Historical Interventions (2008–2015): During the 2008 global food crisis (when domestic inflation hit 30%), a dedicated Cabinet Sub-Committee successfully executed targeted short-to-long-term strategies: • Rice Supply: Implemented price controls and mandated the Paddy Marketing Board to buy 10% of harvests for buffer stocks, driving rice self-sufficiency to 106% of demand by 2014. • Urban Food Access: Established consumer-focused economic centers in Narahenpita and Ratmalana to cut supply chain lengths for urban populations. • Post-Harvest Mitigation: Introduced a framework to mandate plastic crates, targeting a reduction in supply chain fruit and vegetable losses from over 40% down to 3–4%. • Systemic Bottlenecks & Missing Long-Term Plans: Modern food security is heavily hindered by a lack of institutional continuity and a formal transition process when governments change. Shelved or unimplemented long-term initiatives include a cold storage network in Dambulla, railway-based produce transport, tomato value-addition processing, and an Agriculture Management Information System (MIS) designed to prevent seasonal crop gluts. _Note: Based on historical operational data and insights shared by the former head of the Food Security Functional Group._

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📈 Middle East Crisis Forces Downward Revision of Sri Lanka's 2026 Tourism Targets

The Sri Lankan government has downgraded its ambitious 2026 tourism targets due to global aviation disruptions stemming from the Middle East conflict, which closed regional airspaces and forced thousands of flight cancellations. • Revised Targets for 2026 Tourist Arrivals: Cut to 2.5 million visitors (down from the initial best-case target of 3 million). Tourism Earnings: Revised down to US$ 3.5 Bn (down from the original US$ 4.0 Bn goal). • Growth Momentum & Setbacks The year started strong with historic growth, recording a 17% YoY increase in arrivals in January and a 16% YoY increase in February. Mid-year disruptions halted this momentum, but officials still expect 2026 to be a record-breaking year for total arrivals if conditions stabilize. • Recovery Strategy & New Airline Connectivity A strong recovery is anticipated in 2H 2026, driven by a winter promotional push and expanded airline operations. New Airlines Commencing Services: British Airways, Jetstar, Vietnam Airlines, VietJet, French Bee, S7 Airlines, and Supernova Airlines. Expanded Frequencies: Emirates, Qatar Airways, and Turkish Airlines have increased flights. Target Markets: Focus is shifting toward high-spending regional visitors, aiming to attract 75,000 to 100,000 Indian travelers monthly alongside early winter charter flights from Switzerland, Poland, and the CIS region.

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Understanding Sri Lanka’s Reserve Numbers: GIR vs NIR 📈

A Verité Research analysis clarifies why focusing solely on Gross International Reserves (GIR) can misrepresent the health of Sri Lanka's economy, emphasizing that Net International Reserves (NIR) are the critical metric for true stability. • Overall Figures & Discrepancies Gross reserves indicate liquid foreign-currency assets held by the Central Bank of Sri Lanka (CBSL), while net reserves deduct foreign liabilities to show the actual cushion. In December 2021 (prior to the default), GIR stood at US$ 3.1 Bn, but NIR was actually negative at -US$ 0.4 Bn. NIR was negative through December 2022 and 2023, only turning positive in 2024. • CBSL vs. IMF Reporting The IMF program monitors Sri Lanka’s economic recovery using NIR, not GIR, applying fixed January 2023 exchange rates and gold prices to isolate policy performance. CBSL excludes foreign liabilities owed to local resident banks in its NIR math, whereas the IMF framework deducts them, leading to differing reported figures. The lack of data on whether CBSL is a net lender or borrower to local resident banks obscures the nation's precise reserve position. • Economic Implications Relying only on growing GIR creates a false impression of recovery if built via short-term borrowing. Rebuilding NIR is essential to withstand external shocks, secure essential imports, and sustain macroeconomic health.

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Sri Lanka’s Official Reserves Drop by 6.3% to US$ 6.45 Bn in June 2026 📉

Sri Lanka’s official reserve assets experienced a contraction in June 2026, driven primarily by a decline in foreign currency and gold holdings, according to provisional Central Bank of Sri Lanka (CBSL) data. • Overall Figures: Total official reserve assets fell by 6.3% Month-on-Month (MoM), dropping to USD 6,450 million (approx. US$ 6.45 Bn) from USD 6,881 million in May 2026. This represents an absolute decrease of USD 431 million. • Foreign Exchange Breakdown: The decline was heavily influenced by a 6.1% drop in foreign exchange reserves, which decreased to USD 6,254 million compared to the previous month. • Gold Reserves: Liquid gold reserves also saw a sharp double-digit contraction, declining by 11.7% MoM to settle at USD 191 million.

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Market News

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🛢️ Global Oil Climbs to 4-Week High Amid Strait of Hormuz Escalation

• Price Surge: Brent crude futures rose 2% (up $1.68) to US$ 84.98 per barrel, following a massive 9.6% surge in the previous session. U.S. West Texas Intermediate (WTI) crude increased by 2.1% (up $1.65) to US$ 79.79 a barrel. Prices are now at their highest level since June 17, 2026. • Geopolitical Triggers: The price spike follows the U.S. reinstating its naval blockade of Iran and intensifying military strikes. Concurrently, Iran launched cruise missile attacks on two UAE tankers in the Strait of Hormuz, resulting in crew casualties, while Yemen's Houthi movement targeted Saudi Arabia. • Impact on Sri Lanka: While this is a global development, rising crude prices directly pressure Sri Lanka's economy by driving up the national import bill for petroleum products. Higher energy costs historically impact production and transport costs for key domestic sectors like apparel & textiles and tea logistics, threatening inflation and putting pressure on foreign exchange reserves. • Market Outlook: Analysts note that while the Strait of Hormuz remains partially open, the competing military objectives have injected severe uncertainty into global energy supply chains, with further risks if regional attacks spread to Red Sea shipping lanes.

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📈 Treasury Bond Auction Raises Rs. 150 Bn; Money Market Liquidity Surges

Sri Lanka’s central bank successfully raised the full Rs. 150 billion offered amount during the first phase of yesterday's Treasury Bond auction. • Auction Performance: Total demand was strong with a bid-to-acceptance ratio of 2.42 times. Weighted average yields across all tenors landed slightly above pre-auction secondary market quotes: • 2030 Maturity (15.10.2030): Issued at 11.57% (vs. secondary market's 11.47%–11.50%). • 2034 New Maturity (15.10.2034): Issued at 12.04% (vs. similar 15.06.2034 rate of 11.80%–11.90%). • 2037 Maturity (01.07.2037): Issued at 12.58% (vs. comparable 15.08.36 rate of 11.80%–12.00%). • Secondary Market: Trading remained exceptionally quiet and at a virtual standstill as market participants maintained a cautious, watchful stance surrounding the auction. • Money Market Liquidity: Net liquidity surplus jumped significantly to Rs. 152.35 billion (up from Rs. 116.72 billion previously). Commercial banks deposited Rs. 131.43 billion at the Central Bank's 8.25% SDFR, while the Domestic Operations Department drained Rs. 21 billion via an overnight repo auction at 8.74%. • Forex & Rupee: The Sri Lankan Rupee dipped marginally against the US Dollar. Spot contracts closed lower at LKR 336.00/336.25 compared to the previous close of LKR 335.70/335.85. Total USD/LKR traded volume stood at US$ 98.65 million. _Note: A direct issuance window is open for an additional 10% of the offered amount until 3:00 PM today (14 July). Data based on Wealth Trust Securities report._

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📈 Global Stocks Slide as Gulf Tensions Trigger 4%+ Oil Surge

Global markets fell sharply on Monday as escalating conflict in the Gulf and Iran’s claimed closure of the Strait of Hormuz fueled a surge in energy prices, renewing global inflation concerns. • Energy Markets Spike: Brent crude surged 4.3% to US$ 79.31 a barrel, while US WTI climbed 4.4% to US$ 74.62. This rapid rise directly impacts energy-dependent economies like Sri Lanka, increasing global trade and import cost pressures. • Asian Equities Tumble: South Korea's KOSPI plunged 7.6%, extending steep losses in tech and semiconductor stocks. Japan’s Nikkei fell 2.2%, while the broader MSCI Asia Pacific index outside Japan dropped 1.8%. • US & European Outlook: US futures pointed lower (Nasdaq futures down 1.3%, S&P 500 futures down 0.6%). European markets are also set for weaker openings, with the Euro under pressure due to Europe's heavy reliance on imported energy. • Bonds & Currencies: Higher oil prices pushed US Treasury yields higher as investors dialed back expectations for Federal Reserve policy easing. The US Dollar index remained firm at 101.13, while investors shifted toward safe-haven assets. _Context_: For Sri Lanka's economy, global market volatility and rising oil costs historically exert pressure on import bills and foreign reserves, despite ongoing national efforts in industrial diversification.

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📉 CSE Plummets 1.07% Amid Middle East Conflict Concerns

The Colombo stock market opened the week sharply lower on broad-based selling pressure driven by escalating geopolitical tensions in the Middle East. Overall Market Figures • ASPI dropped 1.07% (-233.18 points) to close at 21,532.38. • S&P SL20 fell 0.91% (-55.27 points) to end at 6,022.19. • Losers significantly outnumbered gainers by 178 to 41. • Daily market turnover reached over Rs. 1 Bn with 79.7 Mn shares traded. • Foreign sentiment remained negative, recording a net outflow of nearly Rs. 56 Mn. High net worth (HNW) participation was low, while retail interest was above average. Sector Performance & Key Decliners • Banking Sector: Led market turnover with a 27% share but the sector index lost 0.70%. Major decliners pushing the ASPI down included SAMP (down Rs. 1.50 to Rs. 137.25), HNB non-voting (down Rs. 7.75 to Rs. 320), and COMB (down Rs. 2.25 to Rs. 203). • Food, Beverage & Tobacco: Contributed heavily to turnover but dropped 0.64% as a sector, heavily weighed down by MELS (down Rs. 2.25 to Rs. 183.25). • Capital Goods: Along with Food & Beverage, collectively captured 32% of the daily turnover. Top Index Contributors • Main laggards: CTHR, COMB, SAMP, MELS, and HNB. • Positive cushions: BUKI, RICH, BREW, SEMB, and CDB.

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📈 Asian Stocks Surge on AI Momentum Despite Middle East Escalation

Asian stock markets rose sharply on Friday, driven by tech and semiconductor firms as investors prioritized the artificial intelligence boom over intensifying U.S.-Iran conflict risks in the Middle East. • Market Performance: - South Korea's KOSPI led the region, jumping 4% to become the world’s best-performing major market since 2025. - Japan’s Nikkei climbed 1.8%, while the MSCI's broadest index of Asia-Pacific shares (ex-Japan) rose 1.3%. Taiwan markets remained closed due to a typhoon. • Tech & Semiconductor Drivers: - Momentum was fueled by Micron Technology’s plan to invest over US$ 250 Bn in the U.S. through 2035. - South Korean chip majors Samsung Electronics rose 3% and SK Hynix gained 1%. SK Hynix is set for a massive US$ 26.5 Bn U.S. ADR debut, marking the world's second-biggest share sale. Its domestic shares have surged 238% this year. • Commodities & Currencies: - Brent crude futures hovered at US$ 76.03 per barrel, heading for a 5% week-on-week gain due to threats to the Strait of Hormuz supply route. - The Japanese yen strengthened 0.5% to 161.51 per U.S. dollar, rebounding from 40-year lows following government hints to encourage domestic asset holdings via pension funds. Gold fell 1% for the week to US$ 4,113 per ounce.

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📈 Asian Shares Rise on Chip Rally Amid Surging Oil Prices

Global market dynamics shifted on Thursday as semiconductor stocks rebounded, countering inflation fears driven by escalating tensions in the Gulf. Market Performance & Sectors • Asia-Pacific Markets: MSCI’s broadest index outside Japan rose 0.8%. Japan's Nikkei climbed 2.3%, breaking a three-day losing streak, while South Korea’s KOSPI jumped 3.8%. • Tech Rebound: The global tech sector got a boost as Samsung rose 3.6%, SK Hynix surged 7.5%, and Nvidia rallied 3.6% following reports that China will allow limited purchases of H200 AI chips. Commodities & Macroeconomic Impact • Oil Surge: Brent crude futures rose 0.8% to US$ 78.65 a barrel—up 9% this week—briefly crossing US$ 80.00 for the first time since June 22. This followed fresh US military strikes in Iran and the termination of the interim Gulf peace agreement. • Bonds & Interest Rates: Spurring global inflation fears, the oil surge triggered a bond sell-off. US 10-year Treasury yields climbed to 4.5852%, while market bets increased for Federal Reserve interest rate tightening by 38 basis points this year. • Currencies & Gold: The US dollar dipped 0.2% to 162.38 yen, remaining near 40-year peaks. The Euro rose 0.1% to US$ 1.1428, while Gold remained flat at US$ 4,079 per ounce. _Note: Summarized based on international market data available on July 9, 2026. High oil prices historically impact Sri Lanka's import bills and energy costs._

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Global Market Turmoil: Oil Surges 5% & Stocks Tank Amid US-Iran Hostilities 📈

• Energy Market Surge: Global oil prices jumped over 5% after the US declared its ceasefire with Iran "over" following fresh attacks in the Strait of Hormuz. Brent crude surged 5.3% to US$ 78.10/barrel, while West Texas Intermediate (WTI) rose 5.4% to US$ 74.31/barrel. • Global Equity Decline: Investor flight from risk assets pulled major stock indices down. Dow Jones futures dropped 0.7% (-351 points), while S&P 500 and Nasdaq-100 futures lost 0.4% and 0.5% respectively. Europe’s STOXX 600 fell 1.5%, with energy being the sole gaining sector. • Asian Market Impact: Regional markets faced heavy selling. South Korea’s KOSPI tumbled 5.4% into bear market territory, and Japan’s Nikkei 225 fell 2.1%. Mainland China's CSI 300 slipped 0.3%, though Hong Kong’s Hang Seng bucked the trend, gaining 3.2%. • Economic Context: The escalation directly impacts the Strait of Hormuz, a critical maritime artery for global energy supplies. For an import-dependent economy like Sri Lanka, sustained high global oil prices historically pressure foreign reserves and inflate domestic fuel and energy costs, impacting manufacturing sectors like apparel & textiles and escalating logistics costs across supply chains.

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📈 T-Bill Rates Hold Steady; Full Rs. 100 Bn Raised as Bond Yields Rise on Geopolitical Tensions

• Treasury Bill Auction: Weighted average yields held stable, breaking a two-week streak of increases. The Rs. 100 Bn offer was fully raised during Phase I, with total bids jumping to 2.30 times the offered amount (up from 1.66 times last week). • 91-day: Reduced by 02 bps to 10.21% (absorbed bulk of volume) • 182-day: Unchanged at 10.30% • 364-day: Edged up 01 bps to 10.21% • Secondary Bond Market: Yields increased on moderate volumes, driven by renewed Middle East tensions, US sanctions on Iranian oil, and rising global oil prices. • 2028 maturities traded at 10.70%. • 2030 maturities traded between 11.30% - 11.37%. • 2033/2034 long-term maturities traded between 11.70% - 11.82%. • Forex Market: The Rupee dipped against the US Dollar. The USD/LKR spot contracts closed lower at LKR 335.75/336.20 compared to the previous day's close of Rs. 334.85/335.00. Total traded volume stood at US$ 81.42 Mn. • Money Market Liquidity: Net liquidity surplus was recorded at Rs. 125.89 Bn. The Central Bank drained Rs. 30 Bn via an overnight repo auction at a weighted average rate of 8.75%. Overnight call money and repo rates averaged 9.15% and 9.16% respectively.

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📈 Global Markets Wobble on Mideast Hostilities and AI Jitters

A resurgence in Middle East fighting and renewed U.S. sanctions on Iranian oil have disrupted global markets, driving energy costs up while pulling bond and equity markets down. • Energy & Inflation Risk: Brent crude futures climbed 2% to US$ 75.60 a barrel. While below historic war peaks, the rise creates immediate inflation risks for oil-importing nations, worsened by U.S. Strategic Petroleum Reserve stocks hitting their lowest levels since 1983. • Bond Market Pressures: Ten-year U.S. Treasury yields rose 3 basis points to a one-month high of 4.565% as investors factor back in a geopolitical risk premium. • Currencies: The U.S. dollar remained firm, pushing the Euro back to US$ 1.14 and climbing past 162 Yen, increasing the likelihood of Japanese market intervention. • Tech & Equity Pullback: The global AI-driven stock rally slowed. Despite flagging a 19-fold profit increase, Samsung Electronics fell up to 7%, dragging South Korea's chip-heavy market down 1.5% and pulling the Philadelphia semiconductor benchmark down 4.6% due to short-term profit-taking. _Context for Sri Lanka_: Rising global oil prices and a strengthening U.S. dollar typically pressure local fuel pricing, import costs, and foreign reserves, keeping pressure on key industrial inputs for domestic manufacturing.

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📈 Bond Yields Steady as Activity Picks Up; Rs. 100 Bn T-Bill Auction in Focus

• Bond Market Overview: Secondary bond market activity saw a marginal pickup, concentrated heavily on the short end of the yield curve. Short-term maturities (2028) traded between 10.50% and 10.65%, 4-year segments (2030) ranged from 11.10% to 11.33%, and the belly end (2032) traded at 11.60%. • Treasury Bill Auction: A Rs. 100 Bn T-Bill auction is scheduled for today, offering Rs. 50 Bn (91-day), Rs. 35 Bn (182-day), and Rs. 15 Bn (364-day). This follows last week's auction where weighted averages rose across all tenors (91-day and 182-day up 9 bps to 10.23% and 10.30%; 364-day up 3 bps to 10.20%), showing a clear front-end bias in government securities re-pricing. • Money Market Liquidity: Net liquidity surplus stood strong at Rs. 134.77 Bn. Market participants deposited Rs. 120.97 Bn at CBSL's 8.25% SDFR, while CBSL drained Rs. 13.80 Bn via an overnight repo auction at 8.75%. Overnight call money and repo weighted average rates closed at 9.17% and 9.19% respectively. • Forex Market: The USD/LKR spot exchange rate held steady, closing at Rs. 334.85/335.00 against the previous day's Rs. 334.90/335.00. The total traded volume stood at US$ 66.70 million.

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📉 CSE falls below 22,000 points on 6th consecutive day of losses

The Colombo Stock Exchange (CSE) extended its decline for a sixth straight session yesterday due to broad-based selling pressure, dragging the main index below the 22,000 mark. • Market Performance: The ASPI fell 0.54% (down 118.35 points) to close at 21,962.30, while the S&P SL20 index dipped 0.51% (down 31.55 points) to 6,135.50. • Turnover & Volume: Daily turnover surpassed Rs. 1.5 Bn with nearly 58 million shares traded. Market breath was significantly negative, with 169 decliners outpacing 49 gainers. • Investor & Sector Activity: High-net-worth and institutional participation remained slightly active via negotiated crossings, while retail interest was average. Foreign investors recorded a net outflow of Rs. 185 Mn. The capital goods sector led market turnover with a 31% share, heavily driven by activity in John Keells Holdings (down 10 cents to Rs. 20) and Access Engineering (up 30 cents to Rs. 78.40). The retailing and materials sectors collectively contributed 22% to the day's turnover. • Top Drags & Contributors: The primary negative drivers for the ASPI were Dialog Axiata, Melstacorp, and John Keells Holdings. Meanwhile, counters like Chevron Lubricants saw positive movement, appreciating by Rs. 1.25 to close at Rs. 200.50.

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📉 Colombo Stock Market Drops Below 22,000 Mark

The Colombo Stock Exchange (CSE) experienced a notable downturn today (07 July 2026), with benchmark indices sliding below critical thresholds amid pressure on major blue-chip and financial sector stocks. • Market Indices Overview: The benchmark All Share Price Index (ASPI) fell by 118.35 points to close at 21,962.30, marking its first dip below the 22,000-point threshold since June 12. The blue-chip S&P SL20 index declined by 31.55 points to end at 6,135.50. • Key Drivers & Sectors: The slump was primarily driven by price drops in heavyweights like Dialog Axiata and Melstacorp. Other major contributors to the downward trend included John Keells Holdings (JKH), Carsons Cumberbatch, and CIC. The banking sector also faced pressure, with NDB, HNB, and Sampath Bank all recording price declines. • Turnover & Trading Activity: Despite the index decline, daily market turnover reached LKR 1.53 Bn. Activity was supported by crossings, particularly in JKH, which generated LKR 264 Mn in crossings and a total daily turnover of LKR 306 Mn. Sathosa Motors also saw high activity, recording a turnover of LKR 126 Mn (including crossings), while most other listed companies stayed below LKR 100 Mn.

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Regulatory & Policy News

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⚡ FTZ Manufacturers Push for Urgent Energy Reforms to Save Export Competitiveness

The Free Trade Zone Manufacturers’ Association (FTZMA) met with Energy Minister Aruna Karunathilake to present crucial policy proposals aimed at lowering operational costs and protecting Sri Lanka's position as an attractive export manufacturing hub. Key Demands & Issues Raised: • Operationalise Power Wheeling: Manufacturers urged the immediate implementation of the regulatory framework for power wheeling. This will allow factories to buy cheaper renewable electricity directly from independent producers using the national grid, reducing reliance on expensive traditional power. • Industrial Diesel Pricing Review: The FTZMA highlighted an unfair pricing structure where less-refined industrial diesel is priced higher than highly-refined auto diesel. They requested a price reduction to eliminate this artificial inflation of production costs for apparel & textiles and other heavy export industries. • Dedicated Zone Fuel Stations: The association pressed for the urgent setup of two dedicated fuel stations within the Katunayake and Biyagama Export Processing Zones. These facilities would grant priority fuel access during supply shortages, safeguarding logistics and preventing costly production delays. Why it Matters: High energy costs are currently eroding Sri Lanka's regional edge. The FTZMA stressed that making energy costs globally competitive is vital for long-term economic diversification, maintaining national employment, and attracting fresh foreign direct investment.

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🚨 Court Red Flags Customs' Parliament Remarks in Vehicle Import Case

• The Issue: The Court of Appeal has raised serious concerns that a senior Sri Lanka Customs official may have misled the Committee on Public Finance (CoPF) by claiming settlement talks were underway regarding the detention of over 1,000 imported vehicles at the Colombo Port. • The Contradiction: In a CoPF meeting on June 25, Customs stated a settlement was being discussed. However, the Attorney General explicitly informed the Court that no settlement discussions were taking place and the matter must proceed to judicial determination. • Legal Implications: The three-judge bench noted that if the statements made to Parliament are found to be untrue, they could amount to _contempt of court_. The Attorney General has been directed to obtain an immediate clarification from Customs by July 23. • The Core Dispute: Petitioners are challenging the detention of vehicle imports financed via cross-border Letters of Credit (LCs). Counsel argued that Customs' regulations on cross-border LCs lack uniform legal basis, pointing out inconsistencies in how import documents and vehicle valuations are being handled. • Next Steps: Oral submissions have concluded. All parties must file written submissions ahead of the final judgment fixed for September 18.

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⚖️ Court of Appeal Affirms Statutory Bodies Subject to RTI Act

In a landmark judgment promoting governance transparency, the Court of Appeal has dismissed a writ application by the Chartered Institute of Personnel Management (CIPM), affirming that statutory bodies fall strictly within the ambit of the Right to Information (RTI) Act. • The Ruling: The court upheld the RTI Commission's August 2024 determination that the CIPM is a "public authority" under Section 43(b) of the RTI Act. The case originated after the institute refused to disclose information regarding the membership termination of a former Chartered Fellow Member. • Key Arguments Rejected: The Court of Appeal soundly rejected the CIPM's attempt to exclude itself based on minor linguistic differences between the Sinhala and English texts of the Act. The petitioner argued the law only applied to "Boards" or "Offices", but the bench ruled that Section 43(b) plain text clearly covers _"any body or office"_ established under written law. • Impact on Corporate & Professional Governance: The bench observed that incorporation by an Act of Parliament gives an institution state imprimatur. Therefore, it is reasonable to expect such bodies—especially those managing key national professional standards—to remain transparent and accountable. • Legal Technicalities: While dismissing the case on its merits, the Court also upheld a preliminary objection noting that the CIPM failed to cite the original information requester as a necessary party in the legal proceedings. This decision reinforces previous judicial precedents emphasizing that the RTI framework must be interpreted broadly to advance good governance and accountability across Sri Lankan institutions.

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🇱🇰 Sri Lanka Advocates for Inclusive AI Governance at UN Global Dialogue

A high-level Sri Lankan diplomatic delegation actively participated in the inaugural UN Global Dialogue on AI Governance held from July 06–07 in Geneva, Switzerland, reaffirming the nation's commitment to digital equity. • Key Highlights & Participation: The delegation was led by Dr. Hans Wijayasuriya, Special Envoy and Chief Advisor to the President on Digital Economy. The team maintained strategic engagement across multiple high-level events from July 06–10, including the UN Global Dialogue, the WSIS Forum, and the AI for Good Global Summit 2026. • National Focus: Sri Lanka underscored its stance on international cooperation, digital equity, and building a fair, inclusive, and secure global digital order as the world transitions into an AI-driven future. This aligns with national efforts toward digital transformation and economic diversification. • Delegation Composition: The high-level team included H.E. Sumith Dassanayake (Ambassador/Permanent Representative to the UN in Geneva), Air Vice Marshal (Retd.) Bandula Herath (Director General of the TRCSL), and senior officials from the Permanent Mission of Sri Lanka in Geneva.

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🌐 Sri Lanka Showcase's Digital Reforms at WSIS Forum 2026

Sri Lanka’s progressive digital regulatory reforms gained international prominence at the World Summit on the Information Society (WSIS Forum 2026) in Geneva, Switzerland, highlighting the country's alignment with global governance essentials. • National Strategy Alignment: The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) articulated how new measures operationalize the foundational principles of the National Digital Economy Strategy 2030, aiming for an inclusive and globally competitive digital economy. • Investment & Infrastructure: Newly implemented Radio Frequency Spectrum Auction Regulations have enhanced transparency and investor confidence. Additionally, Telecommunications Infrastructure Sharing Regulations have mitigated capital expenditure duplication and accelerated rural connectivity expansion. • Consumer Welfare & Safety: The deployment of Broadband Quality of Service (QoS) Standard Rules has reinforced operator accountability. Furthermore, enhanced SIM registration frameworks have been institutionalized to mitigate digital fraud, safeguarding the digital financial ecosystem. • Market Modernization: The modernization of the licensing framework through Provider License Rules—covering telecommunications services, infrastructure, and cable landing stations—has unlocked new investment models to drive market participation.

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📜 Govt Hikes Registration & Administration Fees for Companies and Societies

The Government of Sri Lanka has upwardly revised a wide range of fees related to the registration and administration of companies and societies. The changes, effective from 6 July 2026, were introduced via Extraordinary Gazette No. 2496/03 by Trade, Commerce, Food Security and Cooperative Development Minister Wasantha Samarasinghe, amending the previous 2022 fee structures. Key Corporate Fee Revisions: • Private Limited Company Registration: Increased by 13% to Rs. 5,200 (from Rs. 4,600). • Public Limited Company Registration: Increased by ~15% to Rs. 26,400 (from Rs. 23,000). • Unlimited Company Registration: Raised to Rs. 19,800 (from Rs. 17,250). • Company Limited by Guarantee: Registration fee set at Rs. 39,600. • Company Name Approval: Increased to Rs. 2,600 (from Rs. 2,300). • Administrative Filings: Annual return filing is set at Rs. 7,900, while registration of mortgages, charges, and debentures will cost Rs. 9,900. • Other Corporate Sectors: Revisions also apply to company secretaries, auditors, offshore companies, and overseas companies establishing places of business in Sri Lanka. Society Fee Revisions: • Society Registration: Increased to Rs. 3,900 (from Rs. 3,450). • Constitutional Amendments: Raised to Rs. 1,900 (from Rs. 1,725). • Administrative Tasks: Annual return filing is set at Rs. 1,300, certified copies of documents at Rs. 600, and file searches at Rs. 265.

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📈 Sri Lanka’s Trade Strategy: The Need for Modern Agreements

An analysis of modern trade frameworks highlights the critical need for Sri Lanka to establish robust bilateral and plurilateral trade agreements to insulate its economy from global policy volatility, particularly from its largest export market, the US. • Dispute Resolution Gaps: The India-Sri Lanka Free Trade Agreement (ISLFTA), active since 2000, severely lacks an effective dispute resolution mechanism, relying heavily on political action by trade ministries rather than modern independent arbitration. • Global Context & Alternatives: With the WTO’s dispute system rendered ineffective by the US blocking appellate panel appointments, frameworks like the USMCA (via preapproved expert rosters in Article 31.8) and the Regional Comprehensive Economic Partnership (RCEP) offer working blueprints to bypass single-party deadlocks. • Strategic Pragmatism: For Sri Lanka, progressing with modern frameworks like the India-Sri Lanka Economic and Technology Cooperation Agreement (ETCA) and the RCEP is deemed unavoidable to secure market stability. • Negotiating Capacity: Sri Lanka faces a critical domestic capacity gap, having stalled trade negotiations since the mid-2000s. While the Economic Transformation Act, No. 45 of 2024 provided for an Office of International Trade (OIT), it remains unimplemented. • Next Steps: The government urgently requires a specialized agency to manage experienced trade consultants—similar to the 2022 sovereign debt restructuring modality—to guide negotiators and build long-term local expertise.

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⚠️ Parliament Passes Key Financial Crime Bills Amid Governance Concerns

Sri Lanka’s Parliament has passed three crucial anti-money laundering and counter-terrorism financing (AML/CFT) Bills with a special majority (154 votes in favor, 2 against). The legislative amendments alter the Prevention of Money Laundering Act, the Financial Transactions Reporting Act, and the Convention on the Suppression of Terrorist Financing Act to align with Financial Action Task Force (FATF) standards. • Key Concerns Raised by Lawmakers: Opposition MPs warn that certain provisions go beyond international requirements, risking a concentration of authority in the Executive and regulators at the expense of Parliament and the Judiciary. • Regulatory & Investigative Powers: • Financial Intelligence Unit (FIU): Head of FIU empowered to prescribe key transaction thresholds and compliance obligations via administrative directions after the law is passed. • Law Enforcement: Police granted powers to freeze assets for an initial 14 days without prior judicial oversight or evidence, causing fears of potential abuse. • Impact on Key Sectors: While compliance is vital to protect investor confidence and lower national borrowing costs, lawmakers warn that expanded investigative powers could eventually target civil society, NGOs, journalists, and the broader business sector.

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📈 CoPF Approves New Four-Band National Tariff Framework

Sri Lanka's Committee on Public Finance (CoPF) has approved a Resolution under the Customs Ordinance and two Orders under the Export Development Act, setting the stage for a major overhaul of the country's trade and investment environment. • New Four-Band Tariff Structure: Effective April 1, 2026, the previous import duty system (0%, 15%, 20%) is restructured into a four-band system of 0%, 10%, 20%, and 30%. Based on the UN Broad Economic Categories (BEC Rev. 5), imports are now categorized under capital goods, intermediate goods, sensitive intermediate goods, and consumer goods. • Phasing Out Para-Tariffs: To establish a simpler trade regime, the government aims to completely phase out temporary para-tariffs, including the CESS and Ports and Airports Levy (PAL), by 2029. • Relief for Construction: The effective import tax rate on ceramic tiles, currently at 85–90%, will be gradually reduced to 20% by 2029 to ease infrastructure and housing development costs. • Export Targets & Supply Chains: The reforms are designed to help the Export Development Board double Sri Lanka's annual export earnings from US$ 18 Bn to US$ 36 Bn over the next five years. The framework prioritizes global integration for rubber products, electronics, pharmaceuticals, and information technology. • Data Integrity Mandate: Expressing serious concern over trade statistics that have remained un-updated since 2021, the CoPF Chairman ordered the Department of Trade and Investment Policy to update all data records within one week to facilitate evidence-based policymaking.

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Combating Tax Crimes: The Gap Between Theory & Practice 📈

Tax crimes and evasion present severe challenges to both local and global financial systems by draining public resources and undermining economic stability. • The Global Impact: According to research, the global tax gap across 145 countries represents roughly 18% of global GDP, translating to an estimated US$ 3.1 Trillion in evaded taxes annually. • Sri Lanka's Legal Framework: Criminal proceedings for tax crimes are governed primarily under Chapters XVIII (Sections 186–193) of the Inland Revenue Act No. 24 of 2017, alongside provisions from Act No. 10 of 2006. • Penalties & Convictions: Tax Evasion (Sec. 189): Willful evasion or fraudulent refund claims carry a fine of up to LKR 10 Million, imprisonment for up to two years, or both. Impeding Administration (Sec. 190): Failure to file returns, providing false information, or blocking tax officials carries a fine up to LKR 1 Million and/or up to one year of imprisonment. Fraudulent Documentation (Sec. 190A): Introduced via Amendment Act No. 10 of 2021, certifying or preparing false documents carries a fine up to LKR 1 Million and/or up to six months of imprisonment. • Framework for Resolution: Broadening domestic revenue collection requires addressing both the policy gap and administrative gap. Experts emphasize aligning with the OECD’s "Ten Global Principles" to enhance investigative powers, ensure inter-agency cooperation, and safely secure state revenue.

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📈 EPF Reform Proposal: EFC vs State Custody

A critical debate has emerged over the governance of Sri Lanka’s multi-trillion-rupee Employees’ Provident Fund (EPF), which accounts for over 15% of the national GDP. • The Corporate Proposal: The Employers’ Federation of Ceylon (EFC) has submitted proposals to remove EPF management from the Central Bank of Sri Lanka (CBSL) and transfer it to an independent, tripartite trustee board (employers, employees, and Government), while aggressively expanding investments into the private sector. The Government has approved a committee to study this feasibility. • The Critique: Analysts warn the plan acts as a "Trojan Horse" masking corporate capture. Because the EPF is a legally mandated, closed-loop retirement scheme, a private-led board would operate without market competition or capital flight risks, creating severe moral hazard and risks of "front-running" (insider trading using asymmetric market information). • Alternative Public Solution: Critics argue true reform requires fixing the principal-agent problem by legally merging the exclusive CBSL Staff Provident Fund into the general public EPF. This would force regulators to have "skin in the game" and protect worker yields against both political manipulation and private exploitation, keeping the multi-trillion-rupee fund under transparent State custody.

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Digital Youth Crisis: Moving Beyond Social Media Bans 📱

• Global vs Local Context: Australia's proposed ban on social media for under-16s highlights global anxieties over cyberbullying and addictive algorithms. In Sri Lanka, regional research by think-tank LIRNEasia suggests media and information literacy (MIL) training is a highly effective, proactive countermeasure to digital harms. • The Physical Space Vacuum: Adolescents increasingly use platforms like Instagram and WhatsApp because modern urban environments lack physical social spaces. While elite schools offer after-school activities, schools in lower-income areas of Colombo often sit deserted after hours, leaving children isolated at home. • Key Recommendations for Sri Lanka: Repurposing Infrastructure: Transform public schools into safe community hubs after hours (sports, arts, ICT/BPM or robotics) to rebuild physical social ecology cost-effectively. Curriculum Integration: LIRNEasia strongly recommends integrating MIL into formal education curricula alongside targeted training for parents. Adult Behavioral Change: Parents must address their own screen addiction, establishing healthy boundaries (e.g., screen-free family time from 6:00 PM to 10:00 PM).

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Appointments & Executive Moves

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✨ Historic Leadership Milestone: Yashoravi Bakmiwewa Appointed as Director General of EFC

The Employers’ Federation of Ceylon (EFC) has appointed Yashoravi Bakmiwewa as its 14th Director General, marking a historic shift in the organization’s 97-year history. • The Milestone: Bakmiwewa is the first female Director General in EFC history and the first woman to head an Employers’ Business Member Organisation (EBMO) in South Asia. She succeeds Vajira Ellepola. • Professional Background: An Attorney-at-Law admitted to the Supreme Court in 2007, she holds an LL.B. from the University of Colombo and a Master’s in Labour Relations and Human Resources Management. She joined the EFC in 2010 after starting her career at the Attorney General’s Department. • Key Contributions: Over her 16-year tenure, she managed strategic legal advisory and industrial relations, headed the EFC training division since 2019 to improve workplace compliance, and represented employer interests at national tripartite forums and Wages Boards. • Future Vision: Her leadership will focus on helping private sector businesses navigate sustainability challenges and technological transformation in an AI-driven environment.

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💼 Russel Fonseka Appointed as New CEO of MBSL

• Executive Appointment: Merchant Bank of Sri Lanka & Finance PLC (MBSL) has officially announced the appointment of veteran banker Russel Fonseka as its new Chief Executive Officer (CEO). • Industry Experience: Fonseka brings over 30 years of experience in the Sri Lankan banking and financial services sector. He previously held multiple senior leadership roles at the Bank of Ceylon (BOC), ultimately retiring as its General Manager/CEO in August 2025. • Core Expertise: His professional background spans strategic leadership, banking operations, financial management, corporate governance, risk oversight, and regulator engagement. • Academic & Professional Credentials: - Alumnus of the Advanced Management Programme at Harvard Business School (USA). - Holds an MBA from the University of Southern Queensland (Australia) and a B.Sc. in Business Administration from the University of Sri Jayewardenepura. - Fellow Member of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and a Senior Fellow Member of the Institute of Bankers of Sri Lanka (IBSL). • Strategic Outlook: Fonseka’s leadership is positioned to drive MBSL’s ongoing strategy focused on growth, innovation, and institutional transformation within the local financial landscape.

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CBL Group Appoints Sheamalee Wickramasingha as Group Chairman 📈

• Leadership Transition: Group Managing Director Ms. Sheamalee (Shea) Wickramasingha has been appointed as Chairman of CBL Group effective July 6, 2026. She will dual-serve as Group Managing Director and Chairman, succeeding the late Mr. Ramya Sanath Amaraweera Wickramasingha. • Corporate Legacy: The appointment continues the legacy of CBL’s founder, the late President Emeritus Mineka Wickramasingha, who established the company in 1968. Ms. Wickramasingha, a food technologist who joined Ceylon Biscuits Limited in 1991, has been a board member since 1996 and Group MD for over a decade. • Economic & Sector Footprint: CBL Group is one of Sri Lanka's leading and most diversified food manufacturing conglomerates. The group is a major employment driver, employing more than 7,000 people. • Market & Global Reach: • Portfolio includes market-leading household brands such as Munchee, Ritzbury, Revello, Tiara, Lanka Soy, Samaposha, Sera, and Nutriline. • Operates manufacturing units in Sri Lanka, Ghana, and Indonesia. • Exports products to more than 70 countries worldwide. • Acts as the licensed operator of SPAR supermarkets in Sri Lanka.

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💼 EFC Appoints New Leadership; Commits to Labour Law Reforms & Employment Landscape

The Employers’ Federation of Ceylon (EFC) concluded its 97th AGM, appointing a new leadership team for the 2026/27 financial year to drive national employment policies and responsible business initiatives. • New Leadership: Sanath Manatunge (Managing Director/CEO of Commercial Bank and Chairman of the Sri Lanka Banks’ Association) was appointed as the new EFC Chairman. Dinal Peiris (Group Chairman/Managing Director of Lanka Aluminium Industries PLC) takes over as Vice Chairman. • Strategic Focus: The incoming leadership reaffirmed commitments to actively contribute to upcoming labour law reforms to support future-ready businesses. The federation will focus on collaborating with tripartite stakeholders to strengthen Sri Lanka's broader employment landscape. • Economic & Employment Impact: Entering its 97th year of operation, the EFC acts as the national employers’ organisation and the constituent of the International Labour Organisation (ILO) in Sri Lanka. It currently represents a highly diverse set of industries collectively employing over 800,000 workers across the country.

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📈 Maharaja Foods PLC Restructures Board to Drive Retail Expansion and Governance

Maharaja Foods PLC has announced key strategic changes to its Board of Directors to strengthen corporate governance and accelerate its next phase of growth. Key Leadership Changes: • Imran Furkan has been appointed as the new Chairman. A seasoned corporate leader, he currently serves as CEO of Tresync (Australia) and holds multiple board directorships across the Asia-Pacific region, including in the healthcare, retail, and financial sectors. He is also a former CEO of SLASSCOM (the national chamber for the ICT/BPM sector). • Gimhan Sawinda Rajapaksha Dissanayake joins the board as an Independent Non-Executive Director. He brings entrepreneurial expertise from the tea manufacturing, hospitality, and wellness sectors, with a focus on promoting Sri Lankan products globally. • Guganathan Vijayananth, the outgoing Chairman, transitions to the role of Executive, Non-Independent Director. He will directly spearhead the Group’s retail expansion and new venture developments, leveraging his experience in the logistics and food & beverage industries. • Vithyanath Guganathan continues in his current role as Managing Director, ensuring operational and leadership continuity during this transition. Strategic Context: • The restructuring blends extensive cross-sector board experience with the entrepreneurial drive of the company's founding leadership. The new governance model aims to transition the Group from a family-oriented partnership into dedicated business units focused on long-term value creation.

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GovTech Sri Lanka Appoints Shevan Goonetilleke as CEO 💼

• Executive Appointment: GovTech Sri Lanka Ltd., the state's lead implementation agency for national digital transformation, has appointed Shevan Goonetilleke as Chief Executive Officer, effective 19 August 2026. • Strategic Focus: The appointment marks a key milestone for GovTech as it enters its next execution phase. Under his leadership, the agency aims to accelerate national digital infrastructure, secure interoperable government systems, and advance digital public services to drive Sri Lanka's digital economy vision. • Professional Background: Goonetilleke brings over 25 years of technology leadership and digital platform delivery experience. He previously served as CEO and Executive Director of MillenniumIT ESP. His extensive career in the ICT/BPM sector includes senior roles at WSO2, Deutsche Telekom, and Virtusa. • Industry Contribution: He has actively contributed to Sri Lanka's tech ecosystem via the Sri Lanka Association for Software and Services Companies (SLASSCOM), serving as a former Board Director and Founder of the SLASSCOM Product Council. He holds an MBA from the University of Sheffield and a BSc (Hons) from Manchester Metropolitan University.

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👔 New Director General Appointed to BOI of Sri Lanka

President Anura Kumara Dissanayake has appointed Dr. J.G.L.S. Jayawardena as the new Director General of the Board of Investment of Sri Lanka (BOI), effective this afternoon (1 July 2026). • Key Highlights: • The letter of appointment was formally presented at the Presidential Secretariat by the Secretary to the President, Dr. Nandika Sanath Kumanayake. • Dr. Jayawardena holds a dual institutional role, concurrently serving as the Director General (Corporate Affairs) at the Ministry of Finance, Planning and Economic Development. • Economic Context: • The appointment places Dr. Jayawardena at the helm of Sri Lanka's primary investment promotion agency, which drives foreign direct investment (FDI) into vital economic pillars such as apparel & textiles, ICT/BPM, and manufacturing. His concurrent finance ministry role is expected to support regulatory alignment and streamline investment pipelines.

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📈 Sabrina Esufally Appointed to Hemas Holdings Board

Hemas Holdings PLC has announced the appointment of Sabrina Esufally as an Executive Director to its Board, effective 1 July 2026. • Leadership Transition: Currently serving as the Managing Director of Hemas Consumer Brands and a member of the Group Board of Management, she has held diverse leadership roles across pharmaceutical manufacturing, business development, and innovation since joining the Group in 2019. • Strategic Direction: In her role leading the consumer brands sector—a strategically vital business unit for the Group—she has driven expansion into new consumer segments and strengthened the core brand portfolio, positioning the company for growth in frontier markets. • Professional Background: Prior to Hemas, she was the Head of Legal Research at Verité Research, focusing on governance and public policy. She is an Attorney-at-Law of the Supreme Court of Sri Lanka, holding a First Class Honours degree from the University of Durham, an LL.M. from Harvard Law School, and is an alumna of Harvard Business School.

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📈 Ameena Ziauddin Appointed President of Council for Business with Britain (CBB)

The CBB, under The Ceylon Chamber of Commerce, held its 26th AGM to foster trade and investment ties between Sri Lanka and the UK. • New Leadership: Ameena Ziauddin (Norfolk Foods) elected President for 2026–2027. Supported by Senior VP Shiluka Goonewardene (KPMG) and VP Fadhil Jiffry (LSEG). • UK-SL Trade: High Commissioner Andrew Patrick highlighted the benefits of the Developing Countries Trading Scheme (DCTS). • Market Access: The DCTS provides zero-tariff access for Sri Lankan exports, with January 2026 reforms specifically boosting the apparel & textiles sector's competitiveness. • Growth Drivers: Increased British tourist arrivals and improved aviation connectivity were cited as key factors strengthening commercial linkages. • Strategic Focus: The outgoing committee emphasized the success of the NextGen and SME platform, aimed at empowering young professionals and entrepreneurs to drive future economic collaboration. The council remains committed to leveraging trade schemes to diversify exports and deepen the economic partnership between the two nations.

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Duminda Hulangamuwa Appointed New BOI Chairman 📈

• Overall Appointments: President Anura Kumara Dissanayake officially appointed Presidential Senior Economic Adviser Duminda Hulangamuwa as the new Chairman and member of the Board of Investment (BOI) of Sri Lanka on June 30, 2026. • New Board Composition: Alongside the Chairman, four new members were appointed to the BOI board to drive foreign investment into key national sectors like apparel & textiles, ICT/BPM, and infrastructure: • Vish Govindasamy • Harshani Randiligama • Mangala Karunaratne • K. A. Vimalenthirarajah • Official Handover: The letters of appointment were formally presented this afternoon at the Presidential Secretariat by the Secretary to the President, Dr. Nandika Sanath Kumanayake.

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📈 SDB Bank Announces CEO Transition for October 2026

• Executive Departure: SANASA Development Bank PLC (SDB bank) announced that Executive Director/CEO Kapila Ariyaratne will step down from his position and cease to serve on the Board of Directors, effective 6 October 2026, upon completion of his contractual arrangement. • Succession Plan: In line with the bank's approved succession plan, Manoj Akmeemana (currently Deputy CEO) will succeed as Chief Executive Officer, effective 7 October 2026, subject to Central Bank of Sri Lanka approval. • Incoming CEO Profile: Manoj Akmeemana joined SDB bank as Deputy CEO in January 2026. He brings over 35 years of experience in the financial services sector, having previously held senior leadership roles at Sampath Bank PLC, including Senior Deputy General Manager specializing in credit control, risk, and operational oversight. • Outgoing CEO Profile: Kapila Ariyaratne, who joined SDB bank as CEO in October 2024, concludes a key tenure. He previously served as Director/CEO of Seylan Bank PLC for over a decade and held roles across multiple local and international institutions, including Nations Trust Bank PLC and People’s Bank PLC.

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📈 Leadership Transition at EY Sri Lanka and Maldives: Gayathri Manatunga Appointed New Country Managing Partner

• Executive Transition: EY Sri Lanka and the Maldives has announced that Country Managing Partner (CMP) Duminda Hulangamuwa will retire on 30 June 2026, concluding an exceptional 42-year career with the firm. • New Appointment: Gayathri Manatunga will succeed him as the new CMP, effective 1 July 2026. • Outgoing Legacy: Hulangamuwa joined EY in 1984, later serving as Head of Tax in 2012 where he expanded key service lines, and assumed the CMP role in 2023. He played a significant role in fiscal policy and private-public sector engagement in the professional services domain. • Incoming Leadership: Manatunga, currently the Head of Assurance for EY Sri Lanka and the Maldives, brings over three decades of experience. She is highly respected within the banking and financial services sector, having spearheaded high-profile audits for multinationals and major locally listed groups. • Future Outlook: Manatunga's appointment is expected to drive EY's next phase of growth with a focus on strategic insight, quality, and a people-first culture.

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Sustainability, ESG & Corporate Responsibility

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📈 Alliance Finance Broadens Green Bond Framework to Refinance Rooftop Solar Portfolio

Alliance Finance Company PLC has amended its Green Bond Framework to optimize capital deployment while maintaining strict compliance with international green finance standards. • Refinancing Structure: The revised framework allows up to 30% of total Green Bond proceeds to be used for refinancing existing, eligible rooftop solar projects. A two-year look-back period applies, meaning projects must have been approved and commissioned within two years of being earmarked for funding. • Capital Flexibility: Any unutilised allocation from the solar equipment vendors and suppliers category can now be redirected toward rooftop solar financing. All refinanced projects must demonstrate meaningful environmental impact. • Compliance & Verification: The amendments have been independently reviewed by Deloitte Partners, confirming alignment with the International Capital Market Association’s (ICMA) Green Bond Principles (June 2025). An external assurance report has also been secured. • National Context: Initially launched in February 2025 as a Rs. 1 billion issuance, this marked Sri Lanka's first Green Bond by a Non-Banking Financial Institution (NBFI), featuring a dual listing on the Colombo and Luxembourg Stock Exchanges. The proceeds directly support Sri Lanka's national targets of 70% renewable electricity by 2030 and carbon neutrality by 2050.

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🌊 Climate Adaptation Urgency: Sri Lanka Faces Post-Cyclone Reality

A shift from reactive to proactive climate adaptation is critical for Sri Lanka following Cyclone Ditwah, the nation’s deadliest and most devastating weather event in living memory. 📈 Macro & Industry Impacts • Over 640 lives lost, with an estimated 10% of the Sri Lankan population impacted across every district. • The manufacturing sector has absorbed an estimated US$ 2 Mn per month in additional fuel and energy costs since the cyclone, rather than passing them to global buyers. • Global partners and investors are shifting demands, now requiring physical climate adaptation strategies alongside traditional emission figures. 🍂 Sector Vulnerabilities • Global warming poses severe risks to agriculture and fisheries due to shifting rainfall and rising urban heat islands. • Sri Lanka's tea sector is projected to experience a 12% decline in production by 2050, threatening vital export revenues and livelihoods. 👥 Workforce & Social Inclusion • Business continuity relies heavily on community resilience; worker absenteeism due to flooded infrastructure halts production regardless of factory preparedness. • Climate change disproportionately impacts women, who make up a significant portion of the workforce in exposed sectors like apparel & textiles and plantations. • Inclusive planning must place women at the center to address heightened safety risks and leverage community-level insights. _Note: Insights based on corporate assessments by MAS Holdings and the UN Women Country Gender Equality Profile 2026._

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📈 HNB Backs Women Entrepreneurs as Title Sponsor for CCWE Fashion Week 2026

Hatton National Bank PLC (HNB) has announced its role as the Title Sponsor for the upcoming Ceylon Chamber of Women Entrepreneurs (CCWE) Fashion Week and International Summit 2026. • Event Details: Scheduled from July 16–20, 2026, at Cinnamon Life, Colombo, under the theme ‘Threads of Inclusion Woven from Every Walk of Life.’ It marks the first fashion week in Sri Lanka and South Asia dedicated exclusively to women entrepreneurs. • Strategic Intent: The initiative aligns with HNB’s core priorities in SME development, women’s entrepreneurship, microfinance outreach, and Environmental, Social, and Governance (ESG) leadership to drive national economic development. • Economic Impact: The platform aims to transition local talent into enterprise by creating direct economic pathways for women-led small and medium enterprises (SMEs), rural artisans, and youth designers. It focuses on positioning Sri Lanka's apparel & textiles and fashion sectors as inclusive, ethical, and globally competitive. • Leadership Insight: HNB leadership emphasized that backing the initiative ensures financial inclusion remains the foundation for long-term growth, helping historically underserved communities access mainstream commercial stages and regional markets.

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📊 SAGT Sets ESG Benchmarks in 7th Sustainability Report

South Asia Gateway Terminals (SAGT), the Public-Private Partnership container terminal at the Port of Colombo, has released its 2025/26 sustainability report, titled "Staying The Course," highlighting key advancements in operational resilience, decarbonization, and diversity. Overall Performance & Infrastructure • Throughput: Handled 1.8 million TEUs in FY2024/25, operating significantly above its original design capacity of 1.1 million TEUs despite market volatility and the Strait of Hormuz crisis. • Upgrades: Successfully completed a major quay crane rail replacement project (Oct 2025–Mar 2026) to future-proof terminal operations. Decarbonization & Green Initiatives • Emissions: Achieved a 21% reduction in GHG emission intensity against the 2019/20 baseline by the end of 2025/26. • Fleet Hybridization: Hybridized 28 out of 31 Rubber Tyred Gantry (RTG) cranes, resulting in approximately 58% less diesel used per move. • Renewable Energy: A 460 kW rooftop solar PV system is now fully operational, generating an average of 44,000 kWh per month (meeting ~5% of electricity requirements). • Future Tech: Deploying two electric forklifts, an EV safety vehicle, and plans for 30 electric prime mover trucks alongside investments in quayside automation. Social & Workforce Milestones • Gender Diversity: Increased female representation from 4% to 6.9% over the past two reporting periods, with an aspirational target of 10% by 2029. • Training: Completed organization-wide LEAN Level 01 training for all employees to drive safety and waste reduction.

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📊 TikTok Moderation: Sri Lanka & Global Q1 2026 Metrics

TikTok's Q1 2026 Transparency Report reveals strict enforcement trends, highlighting a heavily automated approach to digital safety and platform integrity that directly impacts local user engagement. • Sri Lanka Enforcement: A total of 441,089 videos were removed in Sri Lanka (accounting for ~0.5% of local uploads). Highlighting rapid moderation, 99.1% were caught proactively before any user report, and 95% of those were deleted within 24 hours. A total of 20,051 videos were restored upon review. • Global Content Moderation: Globally, 184.01 Mn videos were removed (~0.5% of all global uploads). Automated detection tech spearheaded this, wiping out 178.01 Mn videos. Conversely, global comment removals spiked to 237.51 Mn (up from 218.79 Mn in Q4 2025). • Account & Policy Breakdowns: TikTok purged 86.28 Mn fake accounts and 25.76 Mn suspected underage accounts worldwide. Major global policy violation triggers for video takedowns included: - Sensitive/mature themes: 18.6% - Dangerous activities: 16.5% - Body exposure/sexualized behavior: 12.9% - Safety & civility standards: 12.6% - Edited media & AI-generated content (AIGC): 2.1%

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🌾 Climate-Agri Advisory Boosts Sri Lankan Rice Yields

A five-year collaboration between the International Water Management Institute (IWMI) and Sri Lanka’s Department of Agrarian Development has successfully scaled an Agro-Climate Advisory Lab in Nagollagama, Kurunegala, significantly boosting agriculture productivity. • Key Impact & Yield Figures: Supported farmers harvested 226 kg more rice per acre, securing an extra Rs. 27,100 (~US$ 82) in income per acre. An intensive cohort utilizing climate-resilient paddy seeds from CIC Holdings saw an increase of 390 kg per acre, yielding Rs. 46,800 (~US$ 141) in additional income against just Rs. 6,000 (~US$ 18) in input costs. • Massive Scale-up: The program expanded 100-fold in a single year, moving from a small pilot to disseminating over 125,000 localized, twice-weekly SMS advisories to nearly 10,000 farmers during the 2026 Maha season. • Institutionalization & Regional Potential: Backed by Japan's Ministry of Agriculture, Forestry and Fisheries and CGIAR, the model transitioned from a pilot into a permanent institutional structure under the Department of Agrarian Development. Due to its success, neighboring service centers in Mahawa and Polpithigama have requested replication, and IWMI is now positioning Nagollagama as a model for South-South learning in Zambia and Pakistan.

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📈 Beira Lake Restoration: Short & Long-Term Cleanup Plan Launched

A high-level joint meeting between State and non-State stakeholders at the Hunupitiya Gangaramaya Temple has established an immediate and sustainable action plan to clean and beautify Colombo's historic Beira Lake. Immediate Mechanism: Prominent businessman and engineer Nahil Wijesuriya has agreed to sponsor an immediate short-term intervention focused on flushing the lake utilizing sea water to refresh its critical condition without delay. Long-Term Strategy: Lasting environmental restoration and development projects will be financed through current Government Budget allocations. Execution will be synchronised across key State bodies, including the Colombo Municipal Council (CMC), Urban Development Authority (UDA), and Sri Lanka Land Development Corporation (SLLDC). Economic Context: Situated at the heart of the capital, the ongoing pollution of Beira Lake directly impacts the tourism sector, public health, the urban environment, and overall social wellbeing. This collective initiative aims to restore the ecological, aesthetic, and economic value of this central landmark.

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From Discarded Fish Waste to Dollar Earnings 📈

A BOI-approved venture, Yesol Lanka in Puttalam, is transforming local environmental waste into an export success story, turning discarded fish-processing by-products into premium animal feed ingredients. • Investment & Operations: Backed by a US$ 3 million investment on a 50-acre site in Madurankuliya, processing up to 100 metric tons of fish waste daily. It pays local fishermen and waste collectors Rs. 20–30 per kg for raw materials. • Export Earnings: Generates US$ 2 million to US$ 2.5 million annually by exporting 30,000 to 35,000 metric tons of fishmeal, fish oil, and fish paste. A key buyer includes CP Company of Vietnam, a global leader in shrimp farming. • Employment & Environment: Directly employs 45 people alongside extensive indirect jobs. The factory has achieved 100% Green Project status by using recyclable IBC boxes and plastic pallets. • Market Potential: The venture capitalizes on the global fishmeal and fish oil market, valued at US$ 9.9 billion in 2026. While Sri Lanka lands 480,000 to 530,000 metric tons of fish annually, it currently exports less than 3% as processed marine ingredients, signaling massive room for sector growth and economic diversification.

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Sri Lanka’s EcoBonus Proposal: Turning Plastic Waste into Economic Value 📈

• The Concept: A proposed EcoBonus-Driven PET Bottle Recycling Ecosystem aims to transform Sri Lanka's plastic pollution crisis into a circular economy model. Citizens depositing PET bottles at designated hubs receive digital wallet credits redeemable for utilities, retail discounts, or transport benefits. • Infrastructure & Scaling: Inspired by a practical 800 kg/hour semi-automated PET facility model in Tajikistan, the framework advocates for a decentralized network of regional aggregation centers rather than massive centralized plants. This model lowers transportation costs and boosts efficiency. • Three-Stage Value Chain: 1. Community collection and digital reward issuance. 2. Regional aggregation centers for sorting and cleaning. 3. Processing facilities converting bottles into high-quality PET flakes for packaging materials, apparel & textiles, and industrial products. • Economic Impacts: The initiative aims to drive job creation across collection and technology platforms, reduce dependence on imported raw materials to conserve foreign exchange reserves, and position Sri Lanka as a regional exporter of certified recycled PET products to build green economy credentials. • Social & Environmental Goals: Promotes behavioral change via digital reward gamification for youth and schools, provides supplementary income for low-income households, and reduces plastic leakage into rivers and marine ecosystems to protect fisheries and tourism.

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Workplace Inclusion Gap: Presence vs. Power in Sri Lankan Corporations 📈

A new UN Women and MAS Holdings study highlights that while Sri Lanka’s female political and board representation is rising, a severe gap remains in transforming this presence into leadership authority within the national workforce. • Overall Labor Dynamics: Women constitute over 50% of Sri Lanka's population but represent only 31.3% of the active labor force. This stagnation persists despite the country's high female literacy and strong human development indicators. • The Seniority Squeeze: Workforce representation drops drastically along the corporate ladder. While women comprise roughly 40% of entry-level positions, they account for only 20% of senior management roles. • Institutional & Board Breakdown: • Listed company board seats held by women surged from 8.4% in 2024 to ~30% in 2025. • Local government female representation rose from 2% to 22%. • Parliamentary seats held by women stand at just 9.8%. • Sector & Structural Barriers: Despite massive female employment in key drivers like the apparel & textiles sector, progression into ultimate decision-making remains restricted. Leadership in high-authority domains like finance, infrastructure, and civil engineering continues to be heavily male-dominated, influenced by deep-seated regional gender norms. _Note: Data based on the Country Gender Equality Profile: Sri Lanka (2026)._

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📈 Biodigesters: A Local Solution to Sri Lanka’s Food, Energy & Climate Challenges

A pilot model by Solidaridad and Nucleus Foundation highlights how farm-gate biodigesters can tackle import dependence and climate risks by turning waste into valuable energy and nutrients. • Overall Impact & Savings A single rural dairy household (5-6 people, 3-4 cows, 2 acres) can save approximately Rs. 252,000 annually by replacing LPG and chemical fertilisers. If scaled to 50,000 households, Rs. 10 Bn to Rs. 12.5 Bn could be retained annually within rural economies. • Sector Breakdown & Resource Shift Energy: Over 78% of national households (84% in rural areas) still rely on firewood for cooking. Biodigesters pipe local biogas directly to stoves, reducing expensive LPG imports. Agriculture & Fertiliser: Bio-slurry from digesters can replace 70% to 80% of chemical fertiliser use under specific conditions, improving soil organic matter without a forced organic-only mandate. Dairy: Harnesses existing livestock resources, with average pilot farm dung production estimated at 80 to 100 kg daily. • National Context & Economic Pressures Based on Central Bank data, total merchandise imports reached US$ 21.5 Bn in 2025, with fuel remaining the largest component at US$ 4 Bn. Heavy foreign exchange leakage persists across imported dairy products, chemical fertilisers, and agricultural inputs. • Carbon Financing & Policy Recommendations Carbon finance can offset upfront equipment costs, potentially making systems free for farmers. Sri Lanka can leverage its October 2022 Joint Crediting Mechanism (JCM) with Japan to secure carbon credits. Experts recommend bringing customs duties on biodigester components to zero and adopting an 80:20 carbon benefit-sharing split to attract private investors. _Note: Financial and substitution figures are indicative estimates based on 2025-2026 provisional pilot data._

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UN Global Compact Hosts CATALYZE 2026 for Sustainable Business Transformation 📈

The UN Global Compact Network Sri Lanka hosted CATALYZE 2026 over two days to drive environmental and social sustainability across corporate strategies and accelerate national economic competitiveness. Key Highlights: • Focus Pillars: Aligned with the UN Global Compact’s 2026–2030 Strategy to equip and advance corporate action in net-zero strategies, science-based targets, circularity, and energy security. • Climate Action: Industry experts focused on unlocking finance for industrial decarbonisation, shifting to low-carbon systems, and mapping risks using Taskforce on Nature-related Financial Disclosures (TNFD) guidelines. • Resilience & Communication: Plenaries covered business continuity under climate risks and strategic storytelling to enhance stakeholder trust. • Strategic Backing: Partnered with Deloitte, Anvarta PTY Ltd, and Sampath Bank PLC. Key national sectors like tea and apparel & textiles were heavily represented via patrons including Talawakelle Tea Estates PLC, Hirdaramani Group, Kelani Valley Plantations PLC, Dilmah Ceylon Tea Company PLC, and Teejay Lanka PLC.

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Awards & Recognitions

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🚀 Sri Lanka's sixn.ai Triumphs at Asia's Largest AI Hackathon in Singapore

Sri Lankan Agentic AI Studio sixn.ai secured a major international victory at the SuperAI NEXT Hackathon 2026 in Singapore, positioning the nation as an emerging hub for advanced artificial intelligence product innovation. • Overall Achievement: Out of 700 applicants, 80 competing teams, and participants from 26 countries, sixn.ai was the only Sri Lankan company to finish in the overall Top 5. • Awards Won: Secured a Top 5 overall finish and won the prestigious "Best Use of Stripe Award" for its product, Bloom. • The Innovation: Developed within a tight 36-hour timeframe, Bloom is an AI-powered fashion companion that showcases the practical potential of Agentic AI by understanding user intent, coordinating workflows, and executing autonomous commerce tasks. • Economic Context: Headquartered in Colombo, sixn.ai's success signals a strategic shift for Sri Lanka's ICT/BPM sector—moving from a traditional technology outsourcing destination toward a creator of globally competitive, AI-native products.

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📈 Sri Lanka Secures Spot in TTW’s Top 50 Global Food Destinations for 2026

Travel And Tour World (TTW) has officially ranked Sri Lanka 50th globally in its Top 50 Food Destinations Around the World for 2026, marking a significant milestone for the island's tourism and hospitality sector as culinary tourism increasingly drives contemporary travel. • Global Ranking Context: The index evaluates destinations on culinary heritage, regional diversity, and sustainability. Mexico secured the number 1 spot globally, followed by Italy and Spain. Within the Asia-Pacific region, Sri Lanka joins major culinary hubs like Japan (4), India (5), and China (9). • Regional Breakdown & Highlights: The ranking acknowledges Sri Lanka’s unique position as a destination where gastronomy embodies cultural identity, highlighting 10 key local hubs: Colombo: Celebred for street food like kottu roti, hoppers, and rice & curry. Jaffna: Highlighted for its distinct Tamil flavors and signature crab curry. Nuwara Eliya & Ella: Recognized for hill-country organic produce and tea-inspired dishes. Coastal Hubs (Galle, Negombo, Mirissa, Hikkaduwa, Trincomalee): Celebrated for lagoon seafood and beachfront dining. Kandy: Showcasing traditional cuisine and local sweets. • Economic Implications: This recognition underscores the diversification of Sri Lanka's travel products beyond traditional beach holidays, positioning local agriculture, spices, and the food & beverage industry as core drivers of high-value experiential tourism and regional employment.

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🏆 Union Assurance Wins Prestigious Global Celent Model Insurer Award 2026

Sri Lankan life insurer Union Assurance has been named a Model Insurer for Customer Experience at the Celent Model Insurer Awards 2026. This marks the second time the company has received this honor, making it the only Sri Lankan insurer to ever be recognized on this global stage. • Key Recognition Highlights: The award was secured for the company's "Connected Life Initiative," powered by the Clicklife App. The program provides an end-to-end digital lifecycle spanning insurance education, automated underwriting, and real-time claims tracking. It also features "Clicklife Suwamaga+," an AI-powered wellness ecosystem. • Operational & Performance Metrics: The digital initiative has surpassed 100,000 app downloads. Achieved a 69% straight-through processing (STP) rate for automated underwriting. Reduced claims processing effort by over 80%, cutting average handling times down from 25–30 minutes to approximately 5 minutes. Features a 24/7 self-service platform with 100% digital submissions and integrated electronic medical/lab report exchanges. • Strategic Context: The recognition highlights the strength of Sri Lanka's financial services and technology capabilities, with the platform being engineered entirely in-house by local talent. This milestone follows the company's initial 2020 Celent award for core technology modernization, demonstrating a long-term digital transformation roadmap within the domestic insurance sector.

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📈 CSSL Marks Golden Jubilee, Driving Sri Lanka's Digital Economy

The Computer Society of Sri Lanka (CSSL) celebrated its 50th anniversary on July 7, 2026, at the BMICH, reaffirming its commitment to advancing the nation’s ICT/BPM and digital ecosystem. • Key Highlights & Initiatives 50 years of professional leadership, innovation, and policy advocacy in Sri Lanka's ICT/BPM sector since its establishment in 1976. Active leadership in critical emerging technologies, including artificial intelligence, cybersecurity, cloud computing, and digital public infrastructure. Key national platforms highlighted include the National IT Conference (NITC), the National CIO Forum, and the CSSL Colloquium 2026. • National & Economic Impact Public-Private Collaboration: Strategic alignment with the Ministry of Digital Economy to accelerate digital transformation, attract foreign investment, and generate high-value employment. Sector Integration: Showcased tech-driven grassroot transformations, such as the GoviNext agriculture startup program in partnership with Neo Ventures, NIBM, and the Ministry of Agriculture. Future Focus: Prioritizing "Society 5.0" to foster human-centric digital adoption, ensuring sustainable, inclusive, and ethical economic growth.

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🏗️ 14th World Construction Symposium & Sustainability Awards 2026 Kicks Off in Colombo

The Ceylon Institute of Builders (CIOB), in partnership with the University of Moratuwa, is hosting Sri Lanka’s premier international forum for the built environment on July 10 and 11 at the Hilton Colombo. • Event Scope: Over 100 global research papers have been submitted for the 14th edition of the symposium, highlighting its status as a top platform for innovation and professional excellence. • Sustainability Focus: The concurrent Sustainability Awards Scheme 2026 will recognize exceptional achievements, innovation, and responsible leadership within Sri Lanka's construction industry. • Economic Context: The forum brings together local and regional academics, contractors, consultants, and policymakers to drive advancement, networking, and future-ready strategies for the built sector.

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📈 13th CFA Capital Market Awards Scheduled for September 2026

The flagship event by CFA Society Sri Lanka aims to recognize excellence and raise standards across the country's capital markets ecosystem. • Event Overview: The 13th edition of the Capital Market Awards will be held on 10 September 2026 at the Cinnamon Grand, Colombo. This year also marks the 25th anniversary of CFA Society Sri Lanka's contribution to the local financial sector. • Core Focus: The awards encourage continuous industry improvement, focusing on research timeliness, investor relevance, and emerging trends like AI, ESG, sustainability reporting, and digital finance. • Award Categories: Recognition will be given across five key areas: Best Equity Research Team, Best Equity Research Report, Best Sector Report, Best Investor Relations Team, and Best Unit Trust Team. • Local Context & Impact: Over the past 13 years, the initiative has served as a benchmark for corporate governance, market transparency, and professional standards. CFA Society Sri Lanka currently supports over 250 senior financial members and 500 candidates.

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🏆 Great Place To Work Unveils Best Workplaces in Sri Lanka for 2026

Great Place To Work has announced its 14th annual list of the 50 Best Workplaces in Sri Lanka, based on data collected between April 2025 and March 2026. • Study Scale & Scope: Surveyed over 80,000 employees (representing a 93,000 workforce) across 200 organizations spanning 20+ industries, achieving an 86% average response rate. • Performance & Key Drivers: The Top 50 recorded an average 91% positive employee perception, outperforming other surveyed firms by 11 percentage points. Key emotional drivers included fairness in pay and management acting as role models, while workplace politics and promotion fairness remain industry-wide challenges. • Methodology: Winners met a 70% minimum positive feedback threshold. Selection was based on the Trust Index Survey (75% weight) and a Culture Audit (25% weight). • Key Industry Winners by Category: - Large (500+ employees): Includes heavyweights in hospitality, apparel & textiles, and finance such as Hayleys Plantations, Hilton, Omega Line, AIA Insurance, and DIMO. - Medium (251-500 employees): Includes Lion Brewery, YKK Lanka, Expolanka Freight, and Janashakthi Insurance. - Small & Micro (up to 250 employees): Features ICT/BPM and tech-driven firms like BoardPAC, Gapstars, Uzabase, and SYNERGEN Technology Labs. • Next Steps: An official awards ceremony and regional conference will be hosted on September 10–11, 2026, at Cinnamon Life.

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🏆 Commercial Bank Makes History with 7 Wins at FinanceAsia Awards 2026

The Commercial Bank of Ceylon has secured an unprecedented seven accolades at the 30th FinanceAsia Awards held in Hong Kong, marking the biggest haul by any Sri Lankan bank. • Overall Achievement: Named the 'Best Bank in Sri Lanka' for the 15th consecutive year, evaluating performance in financial strength, strategic growth, and resilience during 2025. • Sector Breakdowns: Honored across six additional key areas of the financial spectrum: • Best Bank for SMEs (largest lender to the sector) • Best Bank for Use of Technology • Best Islamic Finance House • Best Sustainable Bank (Sri Lanka's first 100% carbon-neutral bank) • Best Private Bank • Best Retail Bank • Economic Context & Scale: Commercial Bank is the largest private sector lender in Sri Lanka and the first local bank to exceed a market capitalization of US$ 1 Bn. • Footprint: Operates over 270 local branches alongside the widest international footprint among Sri Lankan banks, including operations in Bangladesh, the Maldives, Myanmar, and the UAE.

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📈 LB Finance Tops K Seeds Finance Sector Rankings for Q4 FY25/26

LB Finance PLC has been named the best-performing finance company in Category 1 (asset base over Rs. 100 Bn) by K Seeds Investments for the quarter ending March 31, 2026. The ranking evaluated 29 listed Sri Lankan finance companies across 10 equally weighted KPIs. • Overall Environment: The quarter was marked by strong domestic recovery early on, driven by an accommodative monetary policy, low interest rates, and post-cyclone reconstruction credit demand. Sri Lanka's GDP growth accelerated to 5.1% YoY (up from 4.7% in the previous quarter). • Sector Impact: Lower rates expanded credit demand for small and medium-sized enterprises (SMEs) across leasing, vehicle financing, and personal loans, while non-performing loans (NPLs) saw a gradual reduction compared to previous crisis years. • Late-Quarter Shocks: The outbreak of the Iran war on February 28, 2026, disrupted shipping and spiked global crude oil prices. This triggered higher domestic fuel prices and pushed Colombo headline inflation (CCPI) up to 2.2% in March (from 1.6% in February), squeezing borrower repayment capacities and increasing operating costs. • Category Leader: Despite these mounting cost-pressures and compressed interest margins, LB Finance PLC outperformed its large-asset peers due to a resilient balance sheet and strong lending franchise, capturing the top rank.

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📱 Dialog Named Sri Lanka's Most Loved Service & Telecom Brand

• Brand Performance: Dialog Axiata PLC has been recognized as Sri Lanka’s "Most Loved Brand" in both the Service and Telecommunications sectors for the 3rd consecutive year, according to the LMD Brands Annual survey. • Survey Insights: The independent survey was conducted by PepperCube Consultants based on 400 nationwide reader responses evaluating trust, loyalty, and brand affinity. Dialog also ranked among the top Corporate Brands overall. • Socioeconomic Impact: Beyond telecommunications, the brand's digital ecosystem highlights include: • Govi Mithuru: An AI-driven agricultural advisory service supporting over 1,000,000 farmers. • Shishyadhara: A social initiative enabling subsidy distributions to over 450,000 underprivileged students. • Sustainability: Advancing its Net Zero 2050 target through renewable energy and solar-powered network infrastructure. • Other Accolades: Further cementing its local market position, Dialog was secured as the 'Service Brand of the Year' for the 5th time and 'Telecommunication Brand of the Year' for the 15th consecutive year at the SLIM-KANTAR People’s Awards 2026.

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🏆 New Anthoney’s Feeds Wins Big at NCQP 2026

Sri Lankan agri-food producer New Anthoney’s Feeds secured four Gold Awards and one Silver Award at the National Convention on Quality and Productivity (NCQP) 2026, succeeding in all five entered improvement projects. This marks an improvement from their double-Gold performance in 2025. • Performance & Recognition: The company competed in the largest-ever NCQP event, which evaluated 450 teams from over 100 organizations. Their 2025 wins previously qualified them for the International Convention on Quality Control Circles (ICQCC) in Taiwan. • Sector & Operations: New Anthoney’s Feeds is the feed manufacturing arm of New Anthoney’s Group, a leading integrated poultry & agriculture producer. The company remains the only poultry producer in Sri Lanka to raise chickens 100% antibiotic-free. • Supply Chain & Standards: Founded in 1986, the group now controls its entire supply chain (feed, hatchery, farm, processing, and retail). • Certifications & Global Backing: Holds FSSC 22000, ISO 22000, and GMP standards, and is the only local poultry firm with a GHG Verification Statement (ISO 14064-1:2018). The group was also named Best Exporter in the Processed Food Category at the 26th Presidential Export Awards and is backed by the World Bank’s International Finance Corporation (IFC).

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🔔 Kelaniya University's Finance Department Celebrates 15th Anniversary at CSE

The Department of Finance at the University of Kelaniya commemorated its 15th anniversary by ringing the Market Opening Bell on the Colombo Stock Exchange (CSE) trading floor, marking its contribution to developing Sri Lanka's financial sector talent. Key Milestones & Contributions: • Academic Growth: Established in 2011, the department now offers specialized honors degrees in Banking, Insurance, and Financial Engineering to cater to evolving corporate needs. • Global Recognition: The Bachelor's and Master's programs in Finance have secured prestigious CFA Institute affiliations, enhancing the global employability of graduates. • National Initiatives: Key achievements include setting up a Financial Literacy Centre (2022) and establishing a strategic partnership with the Central Bank of Sri Lanka (2025) to boost national financial literacy. • Industry Collaboration: Collaborating with top firms like KPMG Sri Lanka and First Capital Asset Management to deliver professional programs in investment analysis and fund management. The partnership between academic institutions and the CSE remains vital in nurturing ethical, knowledgeable professionals to support Sri Lanka's capital market ecosystem.

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Politics & Government Impact

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📈 NPP's Mixed Bag: Strategy vs. Execution Realities

A critical review of Sri Lanka’s National People’s Power (NPP) government highlights a stark contrast between progressive policy formulation and severe operational delays. Overall Capital Performance • FY2026 Slowdown: Based on provisional Finance Ministry data released in June 2026, the state has deployed only 17.4% (Rs. 240 Bn) of its allocated Rs. 1,380 Bn capital budget. • FY2025 Retrospective: Capital execution stood stagnant at just 45% (Rs. 591.4 Bn deployed), hampered by a temporary 'Vote on Account' framework and external shocks like Cyclone Ditwah. Key Economic & Sector Impacts • Infrastructure & Logistics: Lethargic execution has stalled vital national development initiatives, causing gridlock in major logistics arteries like the Central Expressway Project. • Tourism: Capacity expansion plans at the Bandaranaike International Airport (BIA) Phase II remain frozen despite receiving targeted budget allocations, threatening long-term growth. • Agriculture & Export Lessons: Past policy shocks—such as the 2021 synthetic fertilizer ban—severely disrupted domestic rice production and caused massive crop failures in tea, emphasizing that poor transition planning throttles primary export earners. Governance & Structural Reforms • Anti-Corruption Active: The NPP has turned the anti-corruption drive into a kinetic force, incrementally dismantling a culture of impunity by holding powerful entities accountable. • Bottlenecks: Execution lags are driven by weak project readiness, cumbersome public procurement regulations, high turnover of technical staff, and cash management mismatches. • Proposed Solutions: Recommendations include shifting audit focuses from inputs to outputs, introducing lean "Delivery Units" to clear administrative blockages within 48 hours, and deploying certified professionals over generalist bureaucrats.

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Govt to Allocate District-Level Funds & Resettle 13,000 War-Displaced Families 📈

President Anura Kumara Dissanayake announced major development and public service measures at a two-day District Secretaries’ conference in Colombo. • Infrastructure & Finance: The upcoming 2027 Budget will allocate dedicated, separate financial funds for each district. This will enable immediate repairs to roads, bridges, and public buildings approved by District Coordinating Committees. • Resettlement & Housing: The Government plans to resettle 13,000 conflict-displaced families over the coming year. Abandoned housing projects will be completed following proper assessments, ensuring no encroachment on protected forest lands. • Public Sector & Administration: Building an efficient public service is a priority. The government will focus on rationalizing unproductive institutions and filling key vacancies in essential sectors like health, education, and the Government Analyst’s Department. • Agriculture & Welfare: Key operational discussions included strengthening the Aswesuma welfare program, establishing a direct mechanism to grant tax concessions on agricultural equipment to farmers, and expediting approvals for leasing State lands. _Note: Based on official government announcements at the District Secretaries' conference._

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Govt to Allocate District-Level Funds & Resettle 13,000 War-Displaced Families 📈

President Anura Kumara Dissanayake announced major development and public service measures at a two-day District Secretaries’ conference in Colombo. • Infrastructure & Finance: The upcoming 2027 Budget will allocate dedicated, separate financial funds for each district. This will enable immediate repairs to roads, bridges, and public buildings approved by District Coordinating Committees. • Resettlement & Housing: The Government plans to resettle 13,000 conflict-displaced families over the coming year. Abandoned housing projects will be completed following proper assessments, ensuring no encroachment on protected forest lands. • Public Sector & Administration: Building an efficient public service is a priority. The government will focus on rationalizing unproductive institutions and filling key vacancies in essential sectors like health, education, and the Government Analyst’s Department. • Agriculture & Welfare: Key operational discussions included strengthening the Aswesuma welfare program, establishing a direct mechanism to grant tax concessions on agricultural equipment to farmers, and expediting approvals for leasing State lands. _Note: Based on official government announcements at the District Secretaries' conference._

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Tamil-Speaking Parties to Launch Common Political Platform 🤝

• Political Alignment: Six Tamil-speaking political parties in Sri Lanka are set to announce a joint agreement today (13 July) to coordinate their political approach on key national issues. • Consensus & Objectives: The alliance has reached a consensus to collaborate on issues of mutual interest and common concern, with specific details regarding the scope and objectives to be outlined at a media briefing today. • Alliance Members: The coalition comprises the following six parties representing minority communities: • All Ceylon Makkal Congress (ACMC) • Ceylon Workers’ Congress (CWC) • Democratic Tamil National Alliance (DTNA) • Ilankai Tamil Arasu Kadchi (ITAK) • Sri Lanka Muslim Congress (SLMC) • Tamil Progressive Alliance (TPA) _Note: Summary based on initial provisional announcements ahead of the scheduled media briefing._

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📊 Architect of Modern Qatar, Former Emir Sheikh Hamad bin Khalifa Al Thani, Passes Away at 74

The former emir of Qatar, Sheikh Hamad bin Khalifa Al Thani, who transformed the Gulf state into a global economic powerhouse, has died at the age of 74. Assuming power in 1995, he steered the country through massive structural, political, and financial reforms before peacefully abdicating in 2013. • Economic Transformation: Leveraged vast natural gas wealth, increasing Qatar's GDP more than 24-fold during his reign. Driven by production from the North Field, the country became the world’s largest exporter of liquefied natural gas (LNG) by 2006, reaching a capacity of 77 million tonnes per annum. • Development & Reform: Established the Qatar Foundation and launched the Al Jazeera news channel in 1996. He introduced Qatar's first permanent constitution in 2004, granted women the right to vote/run in municipal elections, and secured the hosting rights for the 2022 FIFA World Cup. • Diplomatic Profile: Positioned Qatar as a major regional mediator, intervening in conflicts across Sudan, Lebanon, and Palestine. His administration also hosted the Taliban office at US request, laying the groundwork for subsequent peace talks. • Leadership Transition: In a rare regional move, he voluntarily handed over power to his 33-year-old heir, Sheikh Tamim bin Hamad Al Thani, in 2013 to usher in a new era of youth leadership.

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📈 Sri Lanka Launches 'Ceylon Tea Village' Program to Hit $ 2.5 Bn Export Goal by 2030

The Government will launch its flagship 'Ceylon Tea Village' initiative on 15 July in Kotmale, Nuwara Eliya, targeting massive structural growth in the tea sector by 2030. • Key Targets by 2030: Raise annual tea production to 400 million kilograms. Increase export earnings to US$ 2.5 billion (generating an additional US$ 1 billion). • Program Scale & Implementation: Total Scope: Aims to establish 500 cluster tea villages island-wide. Phase 1: Commencing in 144 tea villages across 11 districts, selected scientifically by the Tea Research Institute (TRI) and Tea Small Holdings Development Authority (TSHDA). • Sector Context & Smallholder Impact: Smallholder tea growers account for roughly 75% of Sri Lanka's total tea production, making them central to this national growth strategy. Currently, 95% of Sri Lanka's tea production is exported, with only 5% consumed domestically. • Strategic Focus Areas: Improving smallholder incomes through higher productivity. Promoting value-added tea products and integrating cultivation with tea tourism. Introducing modern, sustainable agricultural practices and upgrading village infrastructure. Establishing cooperative societies to drive community participation.

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🌾 Govt. Launches Rs. 16 Bn Yala Paddy Procurement to Stabilise Market

With the 2026 Yala cultivation season harvest underway, the Presidential Secretariat has ordered the immediate commencement of paddy procurement to support farmers and prevent price drops from an anticipated bumper harvest. • Cultivation & Harvest Outlook: Favourable weather enabled the cultivation of ~475,000 hectares for the 2026 Yala season. Stronger production over the past 1.5 years has shifted policy focus from managing supply shortages in 2024 to protecting farmers from falling market prices in 2026. • Funding Allocation: A total of Rs. 16 billion in liquidity is backing this season's purchases. The Treasury has allocated Rs. 6 billion for the state program, while state banks are providing Rs. 10 billion in Odapana loans to support small and medium-scale rice mill owners. • Storage & Supply Management: The Paddy Marketing Board (PMB) currently holds 120,000 tons of buffer stocks from the 2025 Yala and Maha seasons. To clear warehouse space for the incoming harvest, 60,000 tons are being tendered to the market, and 20,000 tons are being transferred to Sathosa. Additional space is being secured via cooperative societies, the Agrarian Development Department, and private leases. • Timeline: Official PMB paddy purchases are scheduled to begin on 15 July 2026, coordinated alongside District Secretaries.

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📈 IMF Focus Shifts to Sri Lanka's Tax Administration Reforms

Sri Lanka's focus is moving from enacting tough tax legislation to modernising its tax administration, following substantial legal overhauls implemented over the past 18 months by the National People’s Power (NPP) Government. • Overall Figures & Progress: Revenue performance has consistently exceeded IMF program expectations, helping restore fiscal stability and secure sizeable primary surpluses. However, an investment of around Rs. 10 Bn in the Inland Revenue Department’s (IRD) Revenue Administration Management Information System (RAMIS) still leaves gaps in IT governance, risk management, data analytics, and taxpayer services. • New Legislative Measures: Recent far-reaching laws include criminal sanctions for failing to obtain Taxpayer Identification Numbers (TINs) or file returns, expanding investigative powers, and making cash payments over Rs. 500,000 non-deductible for income tax. • The Next IMF Phase: The IMF's final two program reviews will heavily target administration and governance, aligned with its 2023 Governance Diagnostic Assessment highlighting substantial corruption risks due to weak performance monitoring. • Proposed Strategy: Based on provisional program targets, the IRD is developing a modernization strategy and a Medium-Term Revenue Strategy. Key priorities include strengthening risk-based compliance, expanding pre-filled tax returns, auditing high-wealth individuals, and administering all taxes exclusively through RAMIS to ensure long-term, fair, and sustainable revenue collection.

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📈 Indirect Tax Reform: The Hidden Costs of Sri Lanka’s New SSCL vs VAT Thresholds

Sri Lanka's recently enacted Value Added Tax (Amendment) Act No. 14 of 2026 and Social Security Contribution Levy (Amendment) Act No. 10 of 2026 reveal a structural contradiction in the government's strategy to protect consumers from price increases while expanding revenue. • The Policy Divergence The government retained the VAT registration threshold at LKR 60 Mn per annum (withdrawing a proposal to lower it to LKR 36 Mn) specifically to avoid direct 18% price pressures on consumers. Conversely, the government lowered the SSCL threshold from LKR 60 Mn to LKR 36 Mn per annum, drawing a significantly larger cohort of businesses into the tax net. • Structural Differences & SME Impact VAT acts strictly as a tax on value addition, allowing registered businesses to claim input tax credits, ensuring the tax does not compound across the supply chain. SSCL operates as a tax on gross turnover with no input credit mechanism. Lowering the threshold directly increases the compliance burden on SMEs operating on thin margins, forcing them to pay tax on total turnover rather than value added. • The Cascading Reality Because SSCL lacks an offset mechanism, it compounds at every stage of the supply chain (from manufacturer to retailer). Bringing more businesses into the SSCL net amplifies this cascading effect, embedding opaque, cumulative tax layers into final goods. Ironically, this instrument is structurally more likely to drive up consumer prices than the VAT expansion the government actively avoided.

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📈 Psychology of Taxation: Overcoming Sri Lanka’s "Invisible Tax" in the Mind

• Overview: As Sri Lanka aims for economic stability, building a strong tax culture requires addressing psychological barriers like loss aversion and present bias rather than relying solely on audits and enforcement. • Key Behavioral Obstacles: Loss Aversion: Taxpayers experience the pain of salary deductions far more intensely than the delayed, shared public benefits. Present Bias: Immediate, visible income cuts overshadow gradual community developments (e.g., roads, healthcare). Negativity Bias: Public trust is quickly eroded by headlines on fund mismanagement, despite continuous, unnoted public service deliveries. • Strategic Pillars for Compliance: Trust & Fairness: Voluntary compliance depends entirely on the perception that the tax system treats everyone equally and that funds are managed responsibly. Youth Education: Integrating civic responsibility into student curricula is essential to shift long-term tax attitudes. Perspective Shift: Moving public focus from "what is lost" to "what is built collectively" is critical for national development and sustainable revenue growth.

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📈 UNFPA & Parliament partner for data-driven policymaking

The Parliament of Sri Lanka and the United Nations Population Fund (UNFPA) have signed a Memorandum of Understanding (MoU) to integrate population data and evidence into the legislative process. • Strategic Objective: Strengthen national development priorities by addressing critical demographic shifts, including population ageing and changing family structures. • Key Focus Areas: • Enhancing evidence-based policymaking for future legislation. • Advancing gender equality and protecting the rights of women and young people. • Strengthening national health systems to better respond to evolving development needs. • Partnership Scope: The agreement, signed by Parliament Secretary-General Kushani Anusha Rohanadeera and UNFPA Representative Phuntsho Wangyel, aims to ensure future policies are inclusive and rights-centered. • Ongoing Support: UNFPA continues to provide essential reproductive healthcare and humanitarian assistance, including recent interventions for communities affected by Cyclone Ditwah. This collaboration underscores a commitment to preparing for Sri Lanka’s demographic transition through broad cooperation across government, civil society, and the private sector.

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🚨 BASL Calls for Independent Probe into Negombo Prison Deaths

The Bar Association of Sri Lanka (BASL) has urged an independent, transparent, and swift investigation into the recent deadly unrest at the Negombo Prison, calling for comprehensive prison and criminal justice system reforms. • Casualties & Impact: Recent violence between July 5 and 7 claimed 27 lives—including seven prison officers—and left over 100 individuals injured. Tensions have also been reported across several other detention facilities. • Investigation & Accountability: BASL welcomed the state's appointment of an independent committee led by a retired Supreme Court Judge. The association insists findings must be made public and all individuals responsible for criminal conduct or official misconduct held legally accountable. • Structural Issues & Reforms: The association stated the tragedy reflects longstanding deficiencies rather than an isolated event. It highlights that remand prisoners retain fundamental rights and the presumption of innocence. • Proposed Solutions: To resolve chronic overcrowding and improve safety for prison staff, BASL recommended a broader policy review, including: • Timely disposal of cases and appropriate use of bail. • Greater reliance on non-custodial sentencing. • Upgraded infrastructure, staffing, and modern prison management.

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Startups & Entrepreneurship

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

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

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

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

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AI Pioneer Suggests Sri Lanka Leapfrog via Precision Brain Healthcare 🧠

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

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📈 Over 250 Gather for Kalutara Business & Investment Summit

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

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🚕 HelaGo Surpasses 1 Mn Kilometres in Just Five Months

Locally developed ride-hailing service HelaGo, a partnership between digital pioneer Helakuru and the David Pieris Group, has completed over 1 million kilometres within five months of its January 6, 2026 launch. • Platform Growth: The service has attracted over 80,000 drivers alongside a rapidly growing passenger base, initially operating across the Western Province. • Innovative Pricing: To address fare disputes, the platform introduced a unique fare negotiation system alongside central pricing, allowing drivers to propose fares and passengers to choose based on price, rating, and vehicle type. • Key Features: Includes an Auto Booking facility for urgent travel and integrated safety technologies for secure rides. • Future Expansion: Committed to maintaining a local identity, HelaGo is preparing to expand its transparent transportation services to other regions across Sri Lanka.

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📈 National Conference Focuses on Strengthening Sri Lanka's MSME Sector

• Strategic Collaboration: The National Enterprise Development Authority (NEDA), operating under the Ministry of Industry and Entrepreneurship Development, collaborated with the University of Peradeniya to host a national conference dedicated to empowering the country's Micro, Small, and Medium Enterprises (MSMEs) sector. • National Context: The initiative underscores a coordinated effort between state development authorities and academia to fortify MSMEs, which serve as a critical pillar for economic resilience, local employment, and industrial diversification across Sri Lanka. _Note: Based on initial provisional reporting._

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📈 LIIN Empowers Over 150 Northern Province Women Entrepreneurs at Emerging Women Summit

The Lanka Impact Investing Network (LIIN) hosted the landmark Emerging Women Summit in Kilinochchi under the theme “Unlocking Markets and Capital for Women Entrepreneurs in Northern Province.” Funded by Global Affairs Canada and implemented alongside WUSC, the event aimed to drive regional resilience and inclusive economic growth. • Overall Participation: Over 200 stakeholders attended, including more than 150 women entrepreneurs alongside government officials, financial institutions, and private sector representatives. • Financing & Growth: High-level discussions targeted access to finance and financial readiness. Industry experts from the Export Development Board and DFCC Bank addressed critical themes including financial literacy, business registration, tax compliance, and building corporate credibility. • Market Access & Branding: Panels focused on expanding small enterprises into national and export avenues, highlighting the necessity of digital marketing, product quality, packaging, and meeting buyer expectations. • Sectors & Local Production: • A vibrant marketplace featured over 40 stalls showcasing handicrafts, clothing, jewellery, and locally produced food and beverages. • An Entrepreneurs Fashion Ramp spotlighted creations from more than 25 women entrepreneurs to enhance product visibility and market exposure. • Key Stakeholders Involved: Institutional support was backed by the Department of Industries, Industrial Development Board, NEDA, University of Jaffna, Commercial Bank, and several regional chambers. Organisers reaffirmed long-term commitment through the GRIT Project to continue capacity-building, expand access to capital, and develop sustainable market linkages for women-led businesses in the region.

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📈 Navigating Bank Financing for Sri Lankan SMEs

The SME sector is a critical pillar of Sri Lanka's national context, generating over 50% of the country’s GDP and driving employment and sustainable growth. Despite enormous year-on-year credit growth in the banking sector, limited access to finance remains a primary obstacle for small businesses. • Overall Dynamics & Bank Risks Banks act as financial intermediaries, balancing depositor safety with lending risks. Financial institutions face high default risks with first-time entrepreneurs due to weak market conditions, continuous working capital losses, or the diversion of funds. • Key Areas of Bank Assessment To secure approval and avoid lengthy processing delays, SME borrowers must provide transparent documentation proving: Real loan size requirements and market potential. Profitability and detailed cash flow history/projections. Personal and business credit history via a Credit Information Bureau (CRIB) report. Borrower character and available collateral. • Available Credit Facilities Sri Lankan banks primarily offer three financing options tailored to varying business lifecycles: Overdrafts Term loans Revolving credit facilities (RCFs) • Strategies for SME Borrowers Applicants should compare interest rates, repayment periods, and flexibility across lenders. Building a successful, long-term relationship requires proactive communication, absolute transparency regarding financial losses, and regular data sharing to establish credibility with account managers.

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📈 Union Bank Launches Phase 3 of National Entrepreneurship Development Program

• Overview: Union Bank has commenced the third phase of its National Entrepreneurship Development Program (NEDP). Launched in 2024, the program is a public-private partnership with the University of Moratuwa and the National Innovation Agency (NIA) aimed at boosting SME development. • Key Highlights: • Over 200 existing and potential business owners are participating in the current phase. • The program reported expanded nationwide reach, including an increase in participants from the Northern region of Sri Lanka. • Designed as a free initiative under the Union Bank School of Social Entrepreneurship, it focuses on upskilling entrepreneurs and supporting viable startup ideas through knowledge, innovation, and financial guidance.

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

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

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

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Uncategorized

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📖 Book Release: Monk Pens True Autobiography as a Historical Novel

• Overview: A new English book titled Forbidden Love of a Buddhist Monk, authored by Sri Lankan monk Venerable Panadura Ananda Thero, explores the spiritual side of life, addressing the deep emotional struggles and past-life memories of a monk. • Key Themes: Contrary to its provocative title, the book involves no violation of monastic vows; instead, it details an innocent spiritual devotion to an elder sister from a previous birth in an ancient Indian kingdom. The narrative bridges religious experience with modern scientific research, citing local studies by Tissa Jayawardena and global research by Prof. Ian Stevenson on children remembering past lives. It integrates neuroscience, explaining how Gamma-Aminobutyric Acid (GABA) filters data streams, and how Samatha (tranquility) meditation can bypass these biological filters to retrieve past-life data. • Significance: Written by a former Deputy Governor of the Central Bank of Sri Lanka, the review highlights the book as a work of "spiritual transparency." By using a narrative format, the author translates abstract doctrines of karma, rebirth, and Anatta (Non-Self) into an accessible human reality, showing the ultimate triumph of wisdom and Vipassana (insight) meditation over deep-seated emotional attachments.

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📝 Call to Reform Language Assessments for Sri Lankan English-Medium Students

An educational commentary addressing Prime Minister and Education Minister Dr. Harini Amarasuriya highlights critical failure rates among English-medium students due to compulsory first-language papers in the G.C.E. Ordinary Level (O/L) examinations. • Core Issue: A significant number of English-medium students perform exceptionally well in academic subjects like Science and Commerce but fail the overall O/L examination solely because they do not secure a pass in their first language (Sinhala or Tamil), or occasionally Mathematics. • Proposed Strategy: The author proposes leveraging the Year 5 Scholarship Examination as an early diagnostic tool rather than a competitive test for English-medium students. • Key Benefits & Framework: Provides an early academic assessment to identify language deficiencies well ahead of the O/L exams. Allows parents, teachers, and education authorities sufficient time to introduce targeted remedial support and language classes. Proposes alternatives to minimize student stress, such as sitting the exam purely for assessment purposes or answering only the school-level language component. • National Impact: Strengthening foundational language competency early aims to mitigate avoidable O/L failures, directly protecting the future workforce and human capital development in secondary education.

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⚠️ Market Update: Source Content Unavailable

• Data Status: Due to a technical read timeout from the source (FT.lk), the full business news text could not be extracted at this time. • Summary: No market figures, growth rates, or sector updates (such as tea, apparel & textiles, or ICT/BPM) are available for this specific report based on the provisional connection error.

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Middle East Conflict Forces Downgrade of 2026 Sri Lankan Tourism Targets 📉

Based on official updates from the Ministry of Tourism, Sri Lanka has factually revised down its national performance projections for the year 2026 due to regional airspace closures and severe international flight disruptions. • Revised National Targets (2026) Tourist Arrivals: Cut to 2.5 Mn visitors (down from the initial optimistic target of 3.0 Mn). Tourism Revenue: Lowered to US$ 3.50 Bn (down from the original projection of US$ 4.00 Bn). • Market Context & Growth Trajectory Despite the external setback, the sector recorded a strong year-on-year (YoY) performance early in the year, with arrivals surging 17% YoY in January and 16% YoY in February. The disruption was driven by the temporary cancellation of approximately 2,000 transit flights across major long-haul routes. • Strategic Sector Outlook & Recovery A strong recovery is expected in 2H 2026, driven by a winter charter influx from the CIS region, Switzerland, and Poland. Sri Lanka Tourism aims to secure stable revenue by targeting 200,000 monthly visitors, including a high-spending focus on 75,000 to 100,000 Indian travelers. Global connectivity will be bolstered as major carriers (including Turkish Airlines, Emirates, and Qatar Airways) expand flight frequencies, alongside upcoming operations by new entrants like Vietnam Airlines, Jetstar, and British Airways. _Note: Summarized from official statements by Tourism Deputy Minister Prof. Ruwan Ranasinghe._

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Sri Lanka Tourism Targets Revised Downward Amid Middle East Crisis 📉

Based on provisional data from the Tourism Ministry, external geopolitical disruptions have forced a revision of national economic targets: • Macro Targets: Sri Lanka has downgraded its 2026 tourist arrival projection to 2.5 million (down from 3.0 million) and lowered its tourism earnings target to US$ 3.50 Bn (down from US$ 4.00 Bn). • Growth & Disruption: Despite a strong start—with YoY growth of 17% in January and 16% in February—escalating conflicts in the Middle East led to regional airspace closures. Nearly 2,000 global flights were cancelled, significantly hurting long-haul transit routes to the island. • Recovery & Connectivity: A strong recovery is projected for 2H 2026, driven by expanded airline connectivity. New operators, including Vietnam Airlines, Jetstar, and British Airways, are launching services to Colombo, while major carriers like Emirates and Qatar Airways have boosted flight frequencies. • Top Markets: The Sri Lanka Tourism Promotion Bureau intends to drive peak winter revenue by targeting 75,000 to 100,000 high-spending travelers from India monthly, alongside upcoming winter charter operations from the CIS region and Poland.

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🚨 HRCSL Directs Prisons Chief to Protect Inmates and Ensure Inquiry Access

The Human Rights Commission of Sri Lanka (HRCSL) has issued urgent directives to the Commissioner General of Prisons following recent violence and allegations of severe ill-treatment within the country's prison facilities. • Key Incidents: The directive follows reported violence at the Negombo Prison, allegations of torture regarding transferred inmates, and the death of an inmate while in the custody of Welikada Prison officials. • Investigation Obstruction: HRCSL expressed serious concern after its Rapid Response Unit was denied access to the Welikada Prison on the night of 7 July. • Mandated Actions: Under the HRCSL Act No. 21 of 1996, the Prisons Chief must ensure unrestricted access for commission officers to all facilities, protect inmates from reprisals, preserve evidence, and fully cooperate with ongoing investigations.

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If you have the text or can copy-paste the details from the article, drop them in right here and I'll format it into a concise economic update for you instantly!

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Media Framing & Secondary Victimisation of Child Abuse Victims in Sri Lanka 📉

A recent high-profile child abuse case in Sri Lanka highlights how digital communication can cause long-term harm to survivors through secondary victimisation, even after legal proceedings conclude. • Key Concept: Media "frames" heavily influence public perception. While public discussion is vital for institutional accountability, social media commentary frequently shifts toward sensationalism, rumors, and speculative details rather than focusing on child protection and justice. • The Digital Impact: The permanent and searchable nature of the digital environment complicates a survivor's recovery. Continuous circulation of screenshots, local details, and commentary allows communities to indirectly identify the child, leading to prolonged public exposure, social stigma, and emotional distress. • The Solution: Experts advocate for "trauma-informed communication" among journalists, content creators, and social media users. This ethical approach prioritises reporting on prevention, justice, and systemic accountability over the sensationalised details of a victim's suffering.

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🛡️ Understanding Child Sexual Abuse & Preventive Action

• Core Issue & Scope: Child sexual abuse remains a heavily hidden crime, increasingly shifting from physical spaces to digital environments (social media, gaming, and messaging apps). Abuse is rarely random; it is highly calculated and relies on exploiting trust and vulnerability. • The Mechanics of Grooming: Offenders typically use grooming—a gradual, subtle pattern of behavior designed to build trust with the child and family through attention, gifts, or emotional support before testing boundaries and enforcing secrecy. • Behavioral Warning Signs: Fear and manipulation often delay direct disclosure. Key behavioral red flags include structural withdrawal, sudden anxiety, aggression, unexplained fear of specific places/people, or regression in younger children. • Key Mitigation & Prevention: • Teaching children personal boundaries and the right to say no. • Establishing non-judgmental spaces to break the silence driven by fear of blame. • Continuous digital supervision to counter online exploitation risks. • Multi-institutional cooperation across families, schools, healthcare, and law enforcement for early reporting and intervention.

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Daily FT Content Extraction Interrupted 📈

• Status Update: The requested article from Daily FT failed to load due to a secure connection timeout (Read timed out). No text or data was extracted from the source link. • Key Details: Headline: Error Published At: 2026-07-08 07:58:54 Error Log: HTTPSConnectionPool (host='www.ft.lk', port=443): Read timed out (30s). • Economic Context Note: Accurate indicators regarding critical Sri Lankan sectors like tea, apparel & textiles, or ICT/BPM cannot be provided in this summary as the relevant material is completely missing. _Note: This brief report is based on provisional network transaction data._

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📈 Negombo Prison Violence Linked to Rival Drug Groups; Reform Measures Unveiled

Preliminary investigations indicate the recent violence at the Negombo Prison, which left 27 dead, was triggered by a confrontation between rival groups linked to the illegal drug trade. • Casualties & Impact: The death toll has risen to 27, comprising 7 prison officers and 20 inmates. A further 76 individuals remain hospitalized, including 23 prison officers and 53 inmates. • Incident Details: The clash escalated on Monday morning. Inmates targeting informants who helped prevent contraband smuggling deliberately destroyed security infrastructure, including CCTV cameras and a body scanner. Unarmed officers were attacked while attempting to contain the breach. • Ongoing Investigations: Multiple concurrent probes have been launched, including an independent Cabinet-appointed committee inquiry, a joint Criminal Investigation Department (CID) and Colombo Crimes Division (CCD) investigation, and an internal Prisons Department probe. • Prison Sector Reforms: To address systemic overcrowding, the Government announced plans to expand prison capacity by 10,000 places. A committee is also reviewing amendments to the House Arrest Act to allow electronic monitoring for certain remand prisoners. • Human Resources: The Justice Ministry acknowledged severe recruitment challenges in the state prison service, noting a drastic decrease in job applications due to the sector becoming increasingly unattractive.

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⚖️ Sri Lanka Judiciary: Calls for Reform & Transparency

A public debate has emerged over proposals to extend the tenure of the Chief Justice and Supreme Court Judges, alongside delays by the President in filling eight judicial vacancies. Concurrently, Parliament recently rejected a motion to examine the Judicial Service Commission's (JSC) power over the disciplinary control and termination of judicial officers. • Key Issues & Allegations: The JSC is facing allegations in Parliament of acting arbitrarily in terminating several judicial officers. While the Speaker rejected a parliamentary oversight motion on the grounds that the JSC exercises judicial power, historical precedent (_The Queen v. Liyanage, 1962_) dictates that the JSC performs executive functions, not judicial power. • Global Standards Gaps: Experts note that the Sri Lankan Judiciary has failed to adopt two critical 21st-century UN-sponsored global instruments designed to guide the professional, ethical, and disciplinary frameworks of judges: The Bangalore Principles of Judicial Conduct (2006): Outlines that disciplinary actions must be defined by law, limited to serious misconduct, handled by an independent tribunal with full rights of defense, and allow for appeals. The Istanbul Declaration on Transparency (2019): Requires the promulgation of ethical standards, mandatory judicial ethics training, and mechanisms for judges to seek guidance on conduct. • Systemic Context: The JSC, originally formed in 1946 and restored under the 1978 Constitution, is facing criticism for failing to align with modern international frameworks. Adopting these global standards is highlighted as essential for safeguarding the independence, impartiality, and integrity of Sri Lanka's judicial administration.

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Real Estate

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

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

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📈 Rs. 4 Bn JAT Astera Residencies Breaks Ground in Thalawathugoda

The Design Consortium International (DCIL) has officially commenced construction on JAT Astera Residencies, a premier Rs. 4 billion luxury residential development located in Thalawathugoda. • Project Overview: The 12-storey luxury apartment complex will feature 104 apartments and six penthouses. Piling work started last week via Sincon Piling, kicking off the construction phase for the project developed by JAT Living. • Design & Pricing: Unit sizes begin at just under 1,200 sq. ft., with residences priced from Rs. 49 million upwards. The architectural layout ensures every bedroom features a private balcony overlooking uninterrupted paddy field views. • Key Amenities: Features a massive 14,000 sq. ft. landscaped rooftop communal space including an amphitheatre, green areas, and a movement zone. The construction & real estate project also incorporates a swimming pool, gymnasium with a sauna, a 630 KVA generator for 100% backup power, and rainwater harvesting infrastructure. • Industry Context: Designed by DCIL, a fully integrated Sri Lankan architectural and engineering firm founded in 1987. The project represents continued high-end investment within Sri Lanka's suburban real estate and modern urban development sectors.

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🏗️ CHEC Commences Construction of Home Lands Skyline’s Pentara Residencies in Colombo 05

The China Harbour Engineering Company (CHEC) has officially commenced construction on Pentara Residencies by Home Lands Skyline following a ceremonial groundbreaking ceremony. The project marks a major addition to Colombo's high-rise residential landscape. Key Project Highlights: • Development Structure: A premium twin-tower super high-rise development consisting of one 31-storey tower and one 41-storey tower. • Scale: The project spans a total gross floor area of approximately 87,000 square metres. • Location: Situated in Colombo 05, approximately 4 km from Colombo City Centre, 7.4 km from the Port of Colombo Container Terminal, and 35 km from the Bandaranaike International Airport. Economic & Industry Impact: • Construction & Infrastructure: Global engineering giant CHEC is serving as the main construction partner, deploying its large-scale high-rise expertise to meet international construction standards. • Economic Contribution: The commencement of construction is expected to stimulate regional economic activity, driving supplier participation, local industrial engagement, and employment generation. • Urban Development: The project enhances Colombo's vertical living infrastructure, reflecting continued stakeholder confidence and collaboration between international contractors and local real estate developers.

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📈 Real Estate: Prime Lands Breaks Ground on Kalutara’s First Gated Community

• Overall Project: Prime Lands has officially commenced construction on ‘Kaloora’, marking the first-ever master-planned gated residential community in Kalutara. The project is being constructed by the group's engineering arm, Prime Constructions Ltd., highlighting Kalutara's emergence as one of Sri Lanka’s fastest-growing residential destinations outside Colombo. • Strategic Value & Infrastructure: The development targets the growing demand for modern housing, focusing on long-term investment value and regional development. Key connectivity points include: • 5 minutes from Kalutara Town • 800 metres from Nagoda Hospital • 15 minutes from the Dodangoda Highway entrance • Amenities & Market Impact: The project introduces Colombo-style luxury amenities to the region to elevate contemporary living standards. According to Prime Lands CEO Ruminda Randeniya, the project introduces flexible payment plans to improve affordability for local families. Inside the secure perimeter, the community features a swimming pool, fully equipped gymnasium, children’s play area, indoor cricket facility, and a multifunctional room under 24-hour security. _Note: Based on official corporate project launch data._

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📈 Plans Accelerated for 'Temple City' Tourism Project in Colombo

The Sri Lankan government has fast-tracked discussions for the proposed 'Temple City' development project, aiming to transform the area surrounding Beira Lake into a premier international tourism and cultural destination. • Core Project Objective: Spearheaded by the Urban Development Authority (UDA) and guided by the Hunupitiya Gangaramaya Temple, the initiative seeks to leverage the site's immense cultural and tourism potential to elevate Colombo's global appeal. • Key Development Features: Plans focus heavily on landscaping, environmental beautification, and enhanced infrastructure. This includes building a dedicated pedestrian walkway around Beira Lake to provide seamless mobility for both local and international visitors. • Execution & Timeline: At a high-level stakeholder meeting chaired by the Secretary to the President, officials emphasized strict inter-institutional coordination to ensure the project is implemented expeditiously. • Stakeholder Involvement: The initiative brings together key state and religious entities, including the Chief Incumbent of the temple, the Prime Minister’s Secretariat, the UDA, the Colombo Municipal Council, and the Sri Lanka Tourism Promotion Bureau.

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🏗️ Home Lands Breaks Ground on Central Park Boulevard in Port City Colombo

Home Lands Group has officially commenced construction on “Central Park Boulevard Port City Colombo,” marking a major milestone for Sri Lanka's real estate and construction sectors. • The Project: An ultra-luxury twin-tower landmark development located in the prestigious Central Park District of Port City Colombo. The project integrates high-rise living with a 40-acre modern parkland featuring landscaped gardens and waterways. • Key Features: The development will house a collection of premium residences, including deluxe apartments, sky villas, penthouses, and exclusive Emerald Mansions, alongside world-class amenities. • Timeline & Scale: Construction is scheduled for completion within 40 months. The independent execution highlights Home Lands' financial strength and track record, having already delivered over 3,750 homes across Sri Lanka. • Economic Impact: Positioned as "The Indian Ocean’s Next Wonder," the project aims to elevate Sri Lanka as a premier regional real estate investment destination, drawing strong interest from both local and overseas investors during its recent grand launch.

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🌊 Special Cabinet Committee to Tackle Land Encroachment and Coastal Damage in East

The Cabinet has approved a special committee and enforcement measures to address illegal land grabbing, unauthorised coastal developments, and land disputes in the Eastern Province. • Core Initiative: Appointment of a dedicated committee titled "Protecting Eastern Province Lands," chaired by Senaka Palliyaguruge, to resolve longstanding land-related conflicts and strengthen state institutional coordination. • Enforcement & Security: A special police unit led by a Deputy Inspector General (DIG) will be established. Security forces will receive full powers to halt politically motivated, unauthorised land acquisitions and reclamation. • Land Reclamation: Land allocated by the Sri Lanka Mahaweli Authority over 5 years ago that remains undeveloped will be repossessed. These lands will be transferred to Divisional Secretaries to facilitate local development. • Coastal & Tourism Impact: Unauthorised structures have accelerated environmental degradation and soil erosion. A formal plan will be designed to promote coastal tourism while protecting ecosystems and ensuring transparent legal enforcement for hotel operations. • Socio-Economic Context: Based on official briefings, the lack of a comprehensive resettlement program 16 years post-civil war and administrative inconsistencies continue to hinder regional development and impact national security.

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📈 Home Lands Expands Footprint in Port City Colombo

Home Lands Group has further solidified its commitment to the real estate sector by acquiring a second land parcel within the Central Park District of Port City Colombo. • Expansion Details: The new acquisition spans over three acres, located adjacent to the previously purchased site for the Central Park Boulevard project. • Investment Strategy: The deal was executed as a single-developer investment, underscoring the group's financial stability and independent development capacity. • Strategic Context: This marks the second major acquisition by Home Lands in the district within three months, reflecting strong investor confidence in the Port City's long-term potential as a premier urban and business destination. • Economic Impact: As a key player in the real estate and urban development landscape, Home Lands' continued investment supports the transformation of Port City into a hub for global business and sustainable living. This expansion reinforces the company’s role in driving large-scale, high-end infrastructure projects, contributing to Sri Lanka’s evolving international investment profile.

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Cabinet Reallocates 408 Housing Units for Flood Victims & Pipeline Residents 🏠

• Overall Figures: The Cabinet approved the reallocation of 408 unused housing units originally acquired by the Road Development Authority (RDA) for the now-suspended New Kelani Bridge to Athurugiriya elevated expressway project. • Sector & Project Breakdown: • Flood Relief: 336 units at the Sanhinda Sevana complex in Kolonnawa will resettle families in highly vulnerable, repeatedly flood-prone urban zones. • Infrastructure Safety: 72 units at the Helamuthu Sevana complex in Henamulla will relocate non-title occupants living along a high-risk underground petroleum pipeline corridor operated by the Ceylon Petroleum Corporation (CPC). • National Context: The RDA had initially purchased 1,100 units across three complexes from the Urban Development Authority (UDA). Following a Court of Appeal enjoining order that suspended Phase II of the expressway project, the government redirected this idle inventory to address urgent urban resettlement and public safety challenges.

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📈 NovaNest Properties Launches 234-Unit Rainbow Apartments in Ratmalana

NovaNest Properties Private Limited, the real estate arm of Nawaloka Holdings, has officially launched Rainbow Apartments, a major 234-unit residential development in Ratmalana, aimed at boosting urban living and construction sector standard benchmarks. • Project Scope & Location: A landmark 234-unit modern residential complex strategically located in Ratmalana, offering connectivity to Colombo and key commercial hubs for professionals, investors, and expatriates. • Key Features & Amenities: Features one of Sri Lanka’s largest residential rooftop lifestyle zones, including a jogging track, pools, gym, co-working spaces, daycare, and an elder activity zone to support diverse employment and family needs. • Healthcare Integration: Backed by Nawaloka Hospitals PLC, the property integrates a fully equipped medical centre, 24-hour ambulance services, and an in-apartment Nurse Call System for emergency assistance. • Investment & Financing: Targeted as a high-value investment opportunity. To facilitate local and international buyers, NovaNest has partnered with leading banks to offer tailored financial solutions, foreign employee payment plans, and four interest-free payment options.

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Prime Residencies Launches Ultra-Luxury 'THE GOLF' Project in Colombo 08 📈

• Overall Project: Prime Residencies, a subsidiary of Prime Group, officially commenced construction of its boutique ultra-luxury residential project, "THE GOLF," on Lake Drive, Colombo 08. The development is part of the company's elite 'One Collection'. • Real Estate & Construction Details: The boutique development features 11 residential floors consisting of 66 curated two- and three-bedroom apartments. Located bordering the Royal Colombo Golf Club, structural work has started on a pile foundation executed by K.D. Piling (Pvt) Limited. • Market Value & Demand: Units within the luxury complex are priced starting from LKR 95.7 Mn upwards. Discerning local and foreign buyers have already reserved a significant majority of the units during the pre-launch phase, reflecting strong demand in Sri Lanka's high-end property sector. • Economic Context: This premium construction venture aligns with urban development trends in the capital, catering to high-net-worth individuals and enhancing property & construction infrastructure in highly sought-after commercial hubs.

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📈 Prime & Melwa Become Largest Port City Investors with 3rd Marina Acquisition

• Strategic Acquisition: Prime Group and Melwa Group have acquired their third and most coveted land parcel in the Marina District, raising their combined holding to approximately 16 acres. This establishes the partnership as the largest property investor in Port City Colombo. • The Marina District: Accounting for only around 1% of the entire Port City, this highly exclusive district is set to be completed within the next five years, outpacing other development areas. • Development Scope: Based on provisional data, the newly acquired parcel will be developed as a mixed-use project, adding to the partnership’s growing waterfront footprint. This follows the launch of their first project, Prime Marina, on June 10, which reported record-breaking sales from local and overseas buyers. • Economic Impact: The multi-acre concentration positions the joint venture at the forefront of the real estate & construction sector, driving luxury property development and aiming to position Colombo as a rising destination for global property investment.

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Product & Service Launches / Business Expansions To understand how these mobile money systems are rolling out across the region, watch this [GovPay digital transformation news clip](https://www.youtube.com/watch?v=wIY5DAWkWBI), which discusses the initial national implementation and expansion of this government platform.

📈 SLT-Mobitel Integrates GovPay for Seamless Digital Public Payments

SLT-Mobitel has officially integrated the GovPay platform into its mCash service, a key move to modernize public service delivery and accelerate Sri Lanka’s digital economy. • Service Access: Customers can now process payments for over 4,090 services across 280+ government organizations directly via the mCash app, USSD (#111#), or at authorized reload outlets. • Key Utilities: Enables instant settlements for traffic fines, local government taxes, utility bills, educational fees, and healthcare charges. • National Impact: • Digital Economy: Strengthens the national digital infrastructure and promotes financial inclusion. • Efficiency: Improves government revenue collection transparency and speed. • Business Benefits: Reduces friction and transaction costs for SMEs and corporate entities, streamlining regulatory compliance. • Accessibility: Provides 24/7 payment access for citizens, bridging the gap between public institutions and digital financial services. This initiative, supported by the Digital Economy Ministry, GovTech (formerly ICTA), and LankaPay, marks a significant step in reducing manual processes in government-linked transactions.

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