Industry & Sector News
View all(78)World Bank & Sri Lanka Advance Colombo Fort Tourism Zone Development 📈
• Project Focus: High-level talks held today between Chief of Staff to the President Prabath Chandrakeerthi and World Bank Country Manager Gevorg Sargsyan to advance the Colombo Fort Tourism Zone development using World Bank loan facilities and technical assistance. • Core Objective: Transform historic Colombo Fort into an attractive, heritage-preserved tourism zone, building on earlier directives from President Anura Kumara Dissanayake. • Expanded Scope: World Bank expressed readiness to support nature-based tourism and regional expansion into the Northern and Eastern provinces. • Broader Sectoral Support: Assistance pledged to help Sri Lanka meet national performance targets in agribusiness, ports & logistics, and energy.
Sri Lanka Hosts PAQS Congress 2026 to Elevate Quantity Surveying Sector 📈
The Institute of Quantity Surveyors of Sri Lanka (IQSSL) is hosting the Pacific Association of Quantity Surveyors (PAQS) Congress 2026, marking only the second time Sri Lanka has hosted the regional event since 2011. • Regional Integration & Mobility: PAQS connects Asia-Pacific professionals and accredits degree programs in cost management, enabling global mobility for Sri Lankan graduates in key markets like Australia, New Zealand, Japan, and Hong Kong. • Technology & Human Intelligence: Under the theme _‘Constructing the Evolution: Unleashing Human Intelligence’_, the conference focuses on leveraging AI and tech tools to benefit the industry while reinforcing the necessity of human judgment, ethics, and professional wisdom. • Economic Impact & Governance: Quantity Surveying plays a critical role in managing public infrastructure spending, driving cost control, and ensuring accountability for every taxpayer rupee spent in the domestic economy. • Industry Reputation: Sri Lankan professionals maintain a strong international profile driven by technical expertise, adaptability, and high ethical standards across global commercial projects.
📦 LANKAPAK 2026 Set to Drive Packaging Industry Growth in October 📈
The 27th edition of LANKAPAK, Sri Lanka’s premier international packaging exhibition, will take place from October 23–25, 2026, at the BMICH, Colombo. Organised by the Sri Lanka Institute of Packaging (SLIP) and CDC Events, the trade show aims to enhance export competitiveness and adoption of sustainable solutions. • Exhibition Scope: Over 160 stalls representing 80+ companies from Sri Lanka, China, India, Pakistan, Maldives, and other South Asian nations. • Key Sectors Featured: Covers packaging machinery, processing technologies, printing, plastics, paper, labelling, smart packaging, and circular materials. • Economic Context: Drives capacity building for local SMEs, manufacturers, and exporters, supporting national export ambitions by helping businesses meet global safety, quality, and circularity requirements. • Concurrent Initiatives: - SLIP Annual Packaging Congress 2026 (Oct 23–24): Focuses on the theme _"Rewriting Packaging in the New Global Economic Landscape"_. - Packaging Clinic: Technical advisory hub providing practical guidance on design, standards, and export readiness for SMEs. - Daily Tech Forum: Knowledge-sharing sessions covering emerging industry trends and material innovation. • Sponsorships: KWO Printing Needs Ltd. (Principal Sponsor), Polydime Plastics Ltd. (Platinum Sponsor), Petro Packaging Ltd. & Advanced Printing Technologies Ltd. (Gold Sponsors).
🤖 Kaspersky Warns of Rising Cyber Threats Disguised as AI Services
At the Kaspersky APAC Cyber Security Weekend in Guangzhou, security experts highlighted growing risks as enterprises prioritize development speed over AI verification. • Threat Overview: Kaspersky identified 92,000 malicious attacks in 2026 disguised as popular AI platforms. Fake ChatGPT apps accounted for 49%, while Claude and Gemini each comprised 18%. • Agentic AI & Malware: Over 15,000 malware samples—including trojans, spyware, and backdoors—were found disguised as agentic AI software capable of stealing internal data. • Open-Source Supply Chain Risks: Cyberattackers are increasingly targeting open-source ecosystems like npm and PyPI. At least 10 major campaigns occurred since mid-2025, including a March 2026 attack on the widely used Axios library. • Enterprise Impact: 31% of enterprise businesses were affected by supply chain attacks last year, highlighting vulnerability in the ICT/BPM and software development pipeline. Additionally, an audit revealed over 250,000 potential CI/CD misconfigurations in GitHub Actions workflows. • Mitigation Strategies: Kaspersky urges organizations to harden development environments, establish clear trusted zones, and verify external code before execution to secure software creation without sacrificing productivity.
National Essay Competition Launched to Boost Youth Financial Literacy 📝
The Insurance Regulatory Commission of Sri Lanka (IRCSL), in partnership with FALIA (Japan) and the Insurance Association of Sri Lanka (IASL), has announced the "Inspiring Young Minds: Securing Tomorrow" essay competition for school students across all 25 districts. • Key Initiative: Focuses on improving financial literacy and youth awareness surrounding life insurance, risk management, family financial protection, and long-term planning. • Eligibility: Open to government, private, and international school students in Sinhala, Tamil, and English. - _Junior Category_ (Ages 13–16; born Jan 1, 2010 – Dec 31, 2013) - _Senior Category_ (Ages 17–19; born Jan 1, 2007 – Dec 31, 2009) • Timeline & Structure: Registration closes on 30 September 2026. Free supervised examination scheduled for October 2026 (1.5-hour duration; answer 1 of 4 essay questions). • Prizes: - National Level: First Place Rs. 75,000 | Second Place Rs. 50,000 | Third Place Rs. 25,000 - District Level: 144 District Merit Awards valued at Rs. 5,000 each - E-certificates for all participants and printed certificates for award winners.
📈 Sri Lanka-NZ Partner to Drive Applied Learning & Skilled Workforce
• Key Initiative: New Zealand and Sri Lankan education stakeholders, institutions, and policymakers will host the ‘Applied Learning and Industry Connect 2026’ event in Colombo on 24th August. The partnership aims to bridge skill gaps, drive workforce readiness, and support national economic transformation. • Strategic Focus: Shift global and local education toward applied learning—a model merging academic knowledge with hands-on industry experience and workplace exposure. • Sector Impact: Highlights potential growth and alignment in high-demand, knowledge-driven sectors including ICT/BPM, cybersecurity, and AI. Vocational education models aim to enhance practical technical capabilities and boost global employability for Sri Lankan graduates. • Economic Outlook: The bilateral collaboration focuses on strengthening links between domestic education systems and industry demand to support long-term economic growth and adaptability.
📈 Sri Lanka International Insurance Summit 2026 Drives Regional Dialogue on Resilience & Innovation
The second edition of the Sri Lanka International Insurance Summit (SLIIS) 2026 concluded at Cinnamon Life, Colombo, highlighting insurance as a strategic driver for national resilience, financial inclusion, and economic growth. • Participation & Reach: Gathered 500+ delegates and 41 expert speakers (13 international, 28 local) across the life insurance and general insurance sectors. • Climate & Financial Inclusion: Focused on parametric risk frameworks for disaster resilience and microinsurance expansion to protect underserved Sri Lankan communities. • Digital Transformation & Tech: Addressed AI, automation, telematics, and data-driven pricing in motor insurance to enhance operational efficiency and risk management. • Regulatory & ESG Frameworks: Covered IFRS 17 and IFRS 9 implementations alongside embedding ESG principles into corporate governance and financial services strategy.
📈 AI Transformation & Data Security Summit 2026 Focuses on PDPA Readiness
The 2nd Data Privacy and Protection Summit 2026 addressed the dual impact of AI as both a major cybersecurity risk and a critical defense tool as Sri Lanka prepares for Personal Data Protection Act (PDPA) enforcement. Key insights span national strategy, rising threat metrics, and sector-specific defenses: • National & Regulatory Context • Digital Economy leadership emphasized integrating privacy into digital architecture from top management down to protect public trust. • PDPA compliance mandates moving from treating security as an IT checkbox to an enterprise strategic priority. • Escalating Cyber Threat Landscape • Cybersecurity threats surged in 2025 with 48,185 new CVEs (+20.6% YoY following a 38% rise in 2024). • Mean time to exploit dropped to 10 hours in 2026 (down from 56 days in 2024); average adversary breakout time declined to 29 minutes. • AI usage in state-aligned tactical attack steps reached 80%–90%. • Sector & Enterprise AI Defenses • Autonomous AI Agents (e.g., GuardianAI) reduced alert triage time to 120 seconds vs. the 70-minute industry average, driving a 40% cost saving for 24x7 SOC operations. • Telecoms (Dialog Axiata) emphasized ethical AI frameworks, bias detection, and governance prior to mass deployment. • Apparel & IT supply chain leaders (Brandix Fortude) highlighted automated attack surface mapping to address historical tech debt. • Healthcare & Wearables (VitalProbe) highlighted risks around sensitive personal data collection without adequate safeguards.
🚨 Shortage of Essential Cancer Drug Filgrastim Sparks Urgent Call in Parliament
• Supply Shortage Impact: ITAK MP Shanakiyan Rasamanickam raised concerns over a critical shortage of the vital cancer drug Filgrastim at Maharagama Apeksha Hospital and state health facilities nationwide. • Financial Burden on Patients: Patients are reportedly forced to buy Filgrastim from private pharmacies at Rs. 17,000–23,000 per injection (and Neupogen at Rs. 20,000–30,000), creating severe financial distress for affected families. • Government Response: Health Minister Dr. Nalinda Jayatissa acknowledged the gap and assured Parliament that immediate steps will address shortages within 1 week via a special medical team. • Procurement Delays: Regular procurement pathways could take up to 6 weeks, raising serious questions regarding uninterrupted interim availability. • Healthcare Sector Outlook: MP Rasamanickam urged the Health Ministry to implement continuous stock monitoring across provincial state hospitals to prevent recurring essential medicine supply crises.
📈 EDB & Global Electronics Association Partner to Boost Sri Lanka's Electronics Skills
The Sri Lanka Export Development Board (SLEDB), alongside IPC India, NAITA, and SLEMEA, hosted the country’s first-ever specialized workshop on Hand Soldering and Wire Harness Techniques on August 13, 2026. • Key Highlights & Audience: • Over 150 participants attended, including ~100 NAITA trainees across the automobile, soldering, and electronic & electrical sectors. • Focused on aligning local talent with ANSI-accredited global standards (adopted by NASA and US Defense) to produce world-class electronics. • Strategic Value: • Aims to attract skilled labor, upgrade NAITA curricula to international IPC standards, and support the growth of the electronic & electrical export sector. • SLEMEA plans to sign an MoU with NAITA to streamline direct recruitment of qualified technicians for local manufacturers. • Economic Context: • Capitalizes on Sri Lanka’s strategic geographic position and educated engineering talent to scale up high-value manufacturing and market competitiveness.
💎 Chinafort Gem Market Adopts Community-Driven Operating Protocol
• Operational Milestone: Beruwala's Chinafort Gem Market, the world's oldest open-air gem market, successfully completed its first month under a unified trading protocol. • New Market Hours: Standardized operating hours of 9:00 AM to 3:00 PM were consensually established and launched on July 18, 2026. • Stakeholder Consensus: The protocol was implemented following collective discussions involving over 1,500 participants, including MP Hon. Chandhima Hettiarachchi, the Beruwala Urban Council Chairman, National Gem and Jewellery Authority leadership, Ceylon Gem and Jewellery Traders Association (CGJTA) officials, the Chinafort Mosque Society, local gem merchants, and residents. • Strategic Impact: The initiative aims to enhance market efficiency and foster global trust in the gem & jewellery sector, strengthening its role as a premier source for fine cut and polished gemstones while ensuring local community co-existence.
🚚 DIMO Mega Fiesta Kurunegala 2026 Boosts Regional Commercial Vehicle Support
• Event Overview: DIMO successfully held a 5-day customer engagement event at its Kurunegala branch, serving over 400 Tata commercial vehicle owners across key economic sectors including transportation, logistics, construction, and agriculture. • Key Services & Maintenance: Provided free vehicle inspections by Tata Motors-trained technicians, technical reports, and free fluid top-ups (engine oil, brake oil, coolant). Discounts of up to 50% were offered on Tata Genuine Parts. Primary vehicle issues identified included engine, diesel pump, and routine maintenance needs. • Broad Stakeholder Engagement: Featured displays from DIMO Retail and Tata Passenger and Commercial Vehicles, alongside banking, leasing, and insurance partners offering financial solutions. • CSR & Sustainability: Conducted free eye check-ups benefiting 235 individuals and distributed tree saplings to promote community wellbeing and environmental sustainability.