Product & Service Launches / Business Expansions
View all(102)📉 KDK Japan Marks New Era of Energy Efficiency in Sri Lanka
Elite Radio & Engineering Co., the sole authorized distributor for KDK products since 1960, highlighted the impact of the newly launched KDK DC Ceiling Fan on National Energy Day. • Energy Savings & Ratings: The four-blade fan reduces energy consumption by more than 50%, drawing only 35 watts at speed 5 compared to 75 watts for conventional fans. It is the first fan in Sri Lanka to receive a 5-star energy rating certificate from the Sri Lanka Sustainable Energy Authority. • Sector Adoption: Developed following extensive consultations with local architecture, construction, and property development leaders, the product has seen particularly strong adoption within the hospitality and tourism sector to address pressing operational energy costs. • Market Context & Features: Designed to mitigate domestic energy wastage and ease pressure on the national grid, the remote-controlled fan operates near-silently. • Future Pipeline: Capitalizing on a 60+ year partnership with KDK Japan, Elite Radio plans to expand its certified energy-saving lineup to include pedestal and wall fans.
⚓ Sampath Bank and SLPA Launch Sri Lanka’s First Real-Time USD Port Payment Solution
Sampath Bank PLC, in collaboration with the Sri Lanka Ports Authority (SLPA), has launched the country's first real-time USD payment solution for the maritime industry, automating traditional manual payment workflows. • The Solution: Powered by Sampath Bank's _FC Quick Connect_ platform, the system enables shipping lines, freight forwarders, and logistics providers to make instant USD payments directly to the SLPA. • Key Drivers: Developed in response to the SLPA's shift toward USD-based billing for selected port services, addressing the need for faster, high-volume foreign currency payment channels. • Economic Impact: The digital platform eliminates operational bottlenecks, improves cash flow efficiency, and boosts real-time transaction visibility. It is positioned as a strategic move to enhance the competitiveness of Sri Lanka's shipping & logistics ecosystem and strengthen its standing as a regional maritime hub. • Future Outlook: The platform establishes a scalable digital framework that can be expanded to other port operators and maritime service providers across the country.
📈 CSE Expands Western Province Footprint with New Gampaha Branch
The Colombo Stock Exchange (CSE) officially opened its 13th branch in Gampaha on June 23, marking a key milestone in its broader expansion strategy. Expansion & Strategy • Network Growth: The Gampaha branch increases the total CSE network to 13 branches island-wide, completing its provincial footprint and driving phase two: reaching all 25 districts. • Regional Focus: This is the 3rd branch established within the Western Province, aimed at tapping into the district's high-potential business hub. Services & Capital Market Access • Investor Services: Facilitates CDS account openings, educational investor workshops, and provides direct access to 8 stockbroker firms. • Business Scaling: Offers entrepreneurs and local businesses listing opportunities via platforms like the Empower Board to leverage capital markets for growth. Market Context & Regulation • Investor Base: Despite a 22 Mn national population, active capital market participants remain under 1 Mn. The SEC emphasized that regional outreach is critical to broadening this base. • Regulatory Focus: The SEC highlighted its dual mandate under Act No. 19 of 2021 to facilitate capital raising for economic development while strictly safeguarding investor interests to maintain market confidence.
💊 Zydus & Sunshine Healthcare Launch US$ 20Mn+ Pharma JV in Sri Lanka
⚡ Zydus Lifesciences and Sunshine Healthcare have announced a strategic joint venture—Zydus Sunshine Lifesciences Pvt Ltd—investing over US$ 20 million to establish a pharmaceutical manufacturing facility in Sri Lanka. • Investment & Location: Over US$ 20 million committed to build a plant on nearly four acres of land at the Board of Investment (BOI) zone in Horana. The foundation stone was laid today. • Economic Impact: The venture aims to boost domestic production in the healthcare & pharmaceuticals sector, reducing import dependence, enhancing supply security, and creating skilled employment. • Strategic Roles: Combines Zydus' global technical expertise in formulations and APIs (Active Pharmaceutical Ingredients) with Sunshine’s local distribution capabilities. • Market Focus: The plant will manufacture products for Sri Lanka's retail market, focusing on improving the availability and affordability of essential medicines under NMRA regulations.
Exterminators PLC Launches AI-Powered Mosquito Intelligence Platform 🦟
• Overall Launch: Sri Lanka's Exterminators PLC, in partnership with Sentario UK Ltd., has launched MACCP X (Mosquito Intelligence Platform). This AI-powered system aims to advance disease surveillance, environmental intelligence, risk mapping, and predictive mosquito management across all provinces and districts in Sri Lanka. • Core Capabilities: Operating as an 'AI for Social Good' initiative, the platform builds on the 2018 MACCP 2000 framework. It integrates predictive analytics, geographic intelligence, and environmental monitoring to provide data-driven insights, helping authorities and communities identify disease risks earlier. • Economic & Social Impact: Targeting mosquito-borne diseases—which affect over 700 million people globally annually—the platform addresses rising risks caused by climate change and urbanization. By shifting focus from reaction to prevention, it supports community health protection, which is vital for maintaining productivity in key economic sectors and safeguarding local employment. • Governance: Developed by Managing Director Denham Marlon Ferreira (an Oxford AI alumnus), MACCP X aligns with responsible AI principles including transparency, privacy protection, and human oversight, designed to augment rather than replace human professional judgment.
🚢 Jetwing Journeys Launches Luxury Outbound River Cruise to India
Sri Lankan outbound travel operator Jetwing Journeys, a subsidiary of Jetwing Travels, has officially unveiled an exclusive 12-day luxury river cruise titled ‘Mysteries of the Ganges’, expanding its specialized portfolio in the tourism & hospitality sector. • The Venture: Jetwing Journeys has chartered the majestic vessel ABN Rajmahal for a curated voyage along India's Hooghly River (a distributary of the Ganges), scheduled from 15 to 26 December 2026. • Capacity & Pricing: The ultra-exclusive voyage caters to a limited group of up to 40 travelers. The experience is priced at Rs. 1,460,000 per person on a double-sharing basis. • Itinerary Highlights: The 12-day journey spans from Farakka to Kolkata. It features visits to historic terracotta temples in Baranagar, the tombs of the last independent Nawab of Bengal in Khushbagh, brassworking villages, and local heritage sites, concluding with a Christmas Day visit to Mother Teresa's Mother House in Kolkata. • Strategic Context: The initiative reflects Jetwing's strategic pivot toward high-value, experiential outbound travel packages. It leverages dedicated in-house visa and air ticketing support to simplify complex international itineraries for Sri Lankan premium travelers.
🇻🇳 Vietjet Launches First-Ever Direct Flights Between Sri Lanka and Vietnam ✈️
Vietnamese airline Vietjet has officially opened bookings for a new direct route connecting Colombo and Ho Chi Minh City, marking the first scheduled direct air link between the two nations. • Flight Operations: The service will commence on 18 August 2026, operating three round-trip flights per week on Tuesdays, Thursdays, and Saturdays. The flight time is approximately five hours. • Economic & Tourism Impact: The route establishes a direct link between Sri Lanka’s commercial hub and Southeast Asia's leading gateway. It is expected to significantly boost two-way tourism, trade, and cultural ties, granting Vietnamese travellers direct access to Sri Lanka’s beaches, wildlife, and tea plantations. • Pricing & Promos: Special launch Eco fares start from USD 90 one-way (all-in). Passengers booking Deluxe and SkyBoss tickets receive a 20% discount on base fares. • Fleet Context: Vietjet operates a modern fleet of 135 aircraft, with nearly 600 additional aircraft on order to support its Asia-Pacific expansion strategy.
📈 City of Dreams Sri Lanka: Melco Brings Global Luxury Hospitality to Colombo
Global integrated resort leader Melco Resorts & Entertainment has expanded its international footprint to Colombo with the launch of City of Dreams Sri Lanka, marking South Asia’s first integrated resort. • The Development: The landmark project brings Melco’s international expertise in world-class design and elevated dining to Sri Lanka's tourism & hospitality sector. It features the luxury Nüwa hotel, premium dining, retail, leisure, and world-class entertainment offerings. • Strategic Impact: Positioned as a bold new chapter for national tourism, the integrated resort aims to reshape the future of luxury travel in the region, mirroring Melco's existing footprint across Macau, Manila, and Cyprus. • Global Portfolio Context: The Sri Lankan property joins Melco’s flagship destinations, including City of Dreams Macau (home to the iconic Zaha Hadid-designed Morpheus), the Hollywood-inspired Studio City, the ultra-luxury Altira Macau, City of Dreams Manila, and Europe's largest integrated resort, City of Dreams Mediterranean in Cyprus. _Note: Based on initial operational and portfolio announcements._
📲 Seylan Bank Launches Google Pay for Mastercard Holders
Seylan Bank, in collaboration with Google and Mastercard, has officially launched Google Pay for its Mastercard debit and credit cardholders, accelerating Sri Lanka’s shift toward a digital, mobile-first economy. • Digital Payment Expansion: Seylan Bank customers can now link their Mastercard cards to Google Wallet for secure, contactless "Tap & Go" payments using NFC-enabled Android smartphones. • Global & Local Utility: The service eliminates the need for physical cards, allowing users to make seamless transactions both locally and internationally at all Mastercard acceptance points. It covers retail, dining, commuting, and online purchases. • Security & Technology: The platform uses advanced tokenization technology, replacing actual card details with unique digital tokens. Transactions are securely authenticated via one-time passwords (OTPs) or bank verification to meet international security standards. • Strategic Impact: This partnership enhances convenience and drives digital adoption within the local banking & financial services sector, supporting broader national efforts toward cashless financial inclusion.
📈 Marriott & CG Hospitality Sign Landmark 3-Property SAARC Deal
Marriott International has signed a major multi-unit agreement with Nepal's CG Hospitality Global to expand its luxury footprint across Nepal and India, aiming to boost regional tourism and employment. • The Overview: The deal adds nearly 450 keys to Marriott's South Asian portfolio. All three properties are anticipated to open by 2031. • Nepal Expansion: Marks the debut of The Ritz-Carlton in Kathmandu (150 rooms, including 30 suites, 5 restaurants, and a spa). It will be joined by The Westin Kathmandu (150 premium rooms focused on wellness), both located near Tribhuvan International Airport. • India Expansion: Introduces the JW Marriott Hotel Siliguri in West Bengal, featuring 150 rooms and 1,500 sq meters of banquet space, acting as a luxury gateway to Northeast India. • Strategic Impact: Deepens the partnership between Marriott and CG Hospitality, which recently celebrated 75 signings globally. The projects are expected to drive significant local economic development and hospitality job creation across the region.
Uber Expands Rides and Eats to Ratnapura 🚗
• Market Expansion: Uber has launched both Uber Rides and Uber Eats in Ratnapura, Sri Lanka's gem capital, extending its technology platform to support local mobility and delivery needs. • Mobility Offerings: Uber Rides introduces two-, three-, and four-wheel transport options across the entire Ratnapura district, featuring safety integrations like GPS tracking, trip sharing, and 24/7 support. • Delivery Ecosystem: Uber Eats is now live across the district, onboarding local culinary merchants (such as Tandoori, Thai Tanic, and Garland) alongside grocery and retail partners to offer doorstep delivery. • Economic Context: The launch aims to drive local economic growth by offering flexible earning opportunities for regional drivers and delivery partners while digitizing small businesses and entrepreneurs in the area. • Growth Footprint: This marks Uber Eats' second regional launch of the year (following Nuwara Eliya) and follows Uber Rides' recent expansion into Kegalle, signaling a broader geographic diversification strategy across the island.
📈 IFC Invests US$ 10 Mn in New Anthoney’s Farms to Boost Sri Lanka's Poultry Exports
The International Finance Corporation (IFC) is investing up to US$ 10 million (including up to US$ 5 million from GAFSP) in New Anthoney’s Farms Group (NAF) to scale up sustainable agribusiness, create jobs, and enhance rural livelihoods. • Overall Investment & Impact: • Up to US$ 10 Mn total investment to expand operations and retail/franchise networks. • Expected to create over 900 jobs. • Will benefit at least 200 smallholder farmers via contract farming (22% women, 80% low-income earners). Smallholders currently drive 40% of NAF's production. • Export & Foreign Exchange Growth: • Aims to export 1,936 metric tons of poultry annually at full capacity (approx. 10% of total output). • Represents a 29% increase from 2024 export levels. • Projected to generate up to US$ 4.95 Mn in additional foreign exchange earnings by 2032. • Notably, NAF accounted for over 90% of Sri Lanka’s poultry meat exports in 2024. • National Context & Food Security: • Supports Sri Lanka’s poultry and livestock sector as a critical, affordable protein source. • Integrates smallholders (who make up 85% of local farms but under 30% of total supply) into formal markets to boost productivity, rural incomes, and export diversification. • Strengthens NAF's position as Sri Lanka’s only fully antibiotic-free, all-natural poultry producer.