Product & Service Launches / Business Expansions
View all(128)🇱🇰 Sri Lanka Debuts First-Ever National Pavilion at Fine Food Australia 2026 📈
The Sri Lanka Export Development Board (EDB), in collaboration with the Consulate General of Sri Lanka in Melbourne, organized the island’s inaugural national pavilion at Fine Food Australia 2026 (held 31 Aug – 3 Sep at MCEC, Melbourne). The milestone initiative aims to strengthen Sri Lanka's food and beverage export presence across Australian and Asia-Pacific markets. • Pavilion Breakdown: - Footprint: 90 sqm dedicated space housing 12 Sri Lankan export entities, combining established corporations and emerging SMEs. - Exhibitors: Akbar Brothers, Perera and Sons Bakers, Link Natural Products, Coconut Taprobane, Sobako Products, Derana Marketing Services, K & D Foods International, HJS Condiments, Ocean Foods Manufacturing, Saya International Tea and Food Exports, Tradlanka Agricultural Enterprises, and Ceylon Coco Infresh. Additional Sri Lankan firms participated via independent stalls. • Featured Export Products: - Highlights spanned Ceylon Tea, coffee, Ceylon Cinnamon & spices, coconut-based items, processed foods, bakery products, frozen items, seafood, rice-based beverages, and natural/herbal products. • Strategic Impact: - Market Access: Facilitated direct B2B sessions with international buyers, importers, distributors, retailers, and foodservice operators. - National Context: Promoted national capabilities in value-added processing, sustainable food production, and quality brand identities to support export diversification and economic growth.
🚗 BYD Enters Japan's Small Vehicle Market with 'RACCO' Kei EV; Potential Sri Lanka Entry Explored
• Japanese Market Milestone: Chinese EV giant BYD officially launched the RACCO, its first mass-produced pure electric vehicle tailored specifically to meet Japan’s strict "kei" car standards. • Segment Dominance: "Kei" cars represent roughly 40% of Japan’s total new vehicle sales. The launch marks BYD’s transition from standard product exports to localized R&D for strategic overseas markets. • Product Focus: Engineering for the RACCO prioritized local safety, interior space optimization, chassis, electric drive, and battery systems to meet high-demand Japanese consumer scenarios. • Sri Lanka Relevance: Local agent John Keells CG Auto announced it is actively assessing how the RACCO (or a market-adapted variant) could expand BYD’s local lineup. Given the historical popularity of Japanese Domestic Market (JDM) vehicles in Sri Lanka, the launch carries significant local market implications.
Sri Lanka’s Lifestyle Sector Targets Maldivian Hospitality Market 📈
• Strategic Expansion: The Sri Lanka Export Development Board (EDB) and the Sri Lanka High Commission organized a Sri Lanka Country Pavilion at the Food and Hospitality Asia Maldives (FHAM) 2026 trade show in Hulhumalé (7–9 September). • SME Participation: Featured 10 selected SMEs showcasing niche export items under the national "Creative Sri Lanka 2030" initiative, focusing on ethical, sustainable, and high-value production. • Key Product Categories: Exporters targeted luxury resort supply chains with home & interior décor, household furnishings, wellness & spa items, recycled & handmade paper, fashion accessories, and artisanal souvenirs. • Market Positioning: Leverage geographical proximity for lower freight costs and fast delivery. Capitalizes on low-volume production capabilities by focusing on superior quality, design differentiation, and high-value niche segments rather than mass production. • B2B Engagement: B2B networking facilitated direct access to resort developers, hotel management, and organizations like the Maldives Business Chamber to secure long-term trade linkages.
HNB Integrates All LankaPay Government Billers into Single TxB Portal 📈
HNB PLC has enabled real-time digital payments to all state bodies connected to the LankaPay Online Payment Platform via its Transaction Banking (TxB) platform, effective September 1, 2026. • Platform Expansion: All HNB TxB corporate clients—spanning SMEs, Business Banking, Emerging Corporates, and Corporate Banking—can now clear payments through a single portal without manual, agency-by-agency submissions. • Key Institutions Covered: Provides access to major regulatory and revenue collection bodies, including: • Sri Lanka Customs (ASYCUDA) • Inland Revenue Department • Employees' Provident Fund • Board of Investments • Sri Lanka Ports Authority • Export Development Board, Import and Export Control Department, Department of Commerce, Central Depository Systems, Sri Lanka Standards Institution, Department of Fisheries, and all 306 state entities under GovPay. • National Context: The move supports the state sector's digital transformation by facilitating secure, real-time, high-value statutory payments, driving national digitization across key commercial operations.
🏡 DFCC Bank & SLBFE Partner for Migrant Worker Housing Loans
DFCC Bank has signed an MoU with the Sri Lanka Bureau of Foreign Employment (SLBFE) to roll out the Ethera Diriya Housing Loan Scheme, designed to turn foreign remittances into permanent assets for migrant worker families. • Key Credit Terms: Max Facility: Up to Rs. 10 million Repayment Period: Up to 10 years Approved Uses: Constructing, purchasing, renovating, or improving residential property • Government Interest Subsidy: Features an interest reimbursement mechanism funded by the SLBFE to lower borrowing costs • Complementary Banking Suite: Complements DFCC’s existing diaspora services, such as the DFCC RataViru Savings Account (offering preferential rates and debit facilities) and foreign remittance products The scheme aims to enhance financial inclusion and asset creation for the migrant workforce, linking crucial inward remittances directly to long-term household stability and real estate investment.
💳 Payable Launches Payments.lk to Disrupt Traditional Payment Gateways
• Market Offering & Rates: Zero setup fees, zero monthly recurring fees, and no fixed per-transaction costs. Local card transaction rates start at 2.29%, while LankaQR and LankaPay start from 0.99%. • Target Segment: Tailored to broaden access for SMEs, startups, freelancers, online sellers, and licensed professionals (e.g., doctors, lawyers, accountants). • Infrastructure & Scale: Powered by Payable’s proven payments platform, which serves 40,000+ Sri Lankan merchants and has processed over LKR 145 billion in card payments. • Broader Ecosystem: Designed as modular payment rails integrating with QR, POS, invoicing, ERP, payroll, and lending infrastructure. • Corporate Context: Supports ICT/BPM and national digital finance adoption following regional tech firm Short Circuit’s acquisition of Payable for LKR 2.6 billion earlier this year.
✈️ Vietjet Partners with Thales and CFM, Strengthening Colombo Route Support
• Strategic Expansion: Vietjet has expanded global MRO, digital, AI, and cybersecurity partnerships with Thales and CFM International to enhance fleet reliability and efficiency across its network, including Sri Lanka. • Thales MRO & Tech Deals: Signed a Repair-By-The-Hour (RBTH) contract for component maintenance across Airbus fleets (A320, A321, A330 series) and an MoU covering digital aviation, cloud solutions, and predictive analytics. • CFM Engine MRO: Signed a Letter of Intent (LOI) for CFM to provide advisory services on developing local LEAP engine MRO capabilities in Vietnam. • Sri Lanka Connectivity: Upgraded technical support directly backs Vietjet’s direct Colombo–Ho Chi Minh City route—launched on 18 August 2026—boosting trade, tourism, and regional connectivity.
🚚 Mahindra & Ideal Motors Unveil All-New Bolero MaXX Pik-Up in Sri Lanka
Mahindra & Mahindra, alongside distributor Ideal Motors, has launched the All-New Bolero MaXX Pik-Up range in Sri Lanka to expand its commercial vehicle lineup. Debut took place at The Motor Show in Colombo (Sept 11–13) at BMICH. • Vehicle Configurations & Target Market: Available in 1.5-ton and 1.7-ton payload capacities tailored for last-mile logistics, agri-transport, traders, and small businesses. • Core Features & Specs: Powered by Mahindra's m2Di diesel engine. Key enhancements include larger cargo areas, higher payload capacity, and factory-fitted AC with heater. Safety upgrades feature reverse parking sensors and turn-safe lights. • Warranty & Distribution Support: Comes with a 3-year / 100,000 km manufacturer warranty. Backed by Ideal Motors' island-wide distribution network, after-sales support, spare parts, and tailored financing options.
HNB Partners with John Keells CG Auto for Exclusive BYD & Denza Leasing 📈
• Overview: HNB PLC has extended its partnership with John Keells CG Auto Pvt Ltd to provide comprehensive vehicle leasing solutions for BYD and Denza electric & hybrid vehicles. • Key Terms: Offers feature special leasing rates with flexible residual value options extending up to a 7-year tenure. • Additional Perks: Includes a complimentary HNB credit card (first-year annual fee waived), discounted vehicle insurance premiums via HNB General Insurance, roadside assistance, servicing support, and complimentary charging solutions. • National Impact: Aims to improve financial flexibility for buyers while driving adoption in Sri Lanka's growing sustainable transport and EV ecosystem.
✈️ Emirates & SLTPB Renew Strategic Partnership to Boost In-Bound Tourism
• Partnership Renewal: Emirates and the Sri Lanka Tourism Promotion Bureau (SLTPB) formalised a Memorandum of Understanding (MoU) at Arabian Travel Market 2026 to boost inbound tourism via global marketing, customised excursions, incentives, and joint trade efforts. • Arrivals Growth: Sri Lanka recorded over 2.3 Mn tourist arrivals in 2025, registering a 15.1% YoY growth compared to over 2 Mn visitors in 2024. • Network & Key Markets: Operating to nearly 140 destinations across six continents, Emirates drives arrivals from key source markets including Russia, UK, Germany, Australia, and the US. • Capacity Expansion: Emirates operates three daily non-stop flights between Colombo and Dubai and one daily service via Male'. Upgraded connectivity includes a second daily Airbus A350 service featuring Premium Economy cabins introduced in August. • Economic Context: Strengthens tourism—a critical driver for Sri Lanka's foreign exchange earnings, regional employment, and service sector diversification.
✈️ SITA Switzerland Secures US$ 4.01 Mn Network Deal for SriLankan Airlines
• Aviation Infrastructure: Government awards a 5-year contract valued at US$ 4.01 Mn to SITA Switzerland SARL to provide global network infrastructure services for the national carrier, SriLankan Airlines. • Operational Scope: The platform will power critical aviation systems, including passenger processing, departure control, ticketing, seat reservations, cargo management, and airport operations. • Contract Details: Selected via international competitive bidding following the expiration of the previous agreement; contract runs from October 1, 2026, to September 30, 2031.
📈 Prime Melwa Secures Strategic Status for $112Mn Port City Mixed-Use Development
• Investment & Scope: Prime Melwa (Pvt) Ltd commits US$ 112.2 Mn in FDI alongside LKR 15.9 Bn in local capital to construct a landmark mixed-use waterfront project within Colombo Port City. • Strategic Designation: Project designated as a Primary Business of Strategic Importance following Cabinet approval under Section 53 of the Colombo Port City Economic Commission Act No. 11 of 2021, granting key exemptions and incentives. • Economic Impact: Project aims to bolster urban real estate infrastructure and drive job creation, generating approximately 800 direct employment opportunities over the development timeline.