Product & Service Launches / Business Expansions
View all(116)📈 Commercial Bank Launches 'ComBank GIG+' to Power Sri Lanka’s Digital Workforce
• Overall Launch: Commercial Bank of Ceylon has introduced ‘ComBank GIG+’, a specialized banking solution tailored for freelancers, digital entrepreneurs, social media influencers, and businesses earning foreign currency through remote work and global digital platforms. • Key Account Features: • Offers account options in Sri Lanka Rupees (LKR) as well as major foreign currencies including USD, EUR, GBP, and AUD. • Open to Sri Lankan citizens aged 18+ and registered business entities with verified foreign income from remote work channels. • Enables direct credit of PayPal-linked withdrawals via ComBank Digital, streamlining the process of bringing overseas digital earnings into the country. • Value-Added Benefits: • Provides first-year fee waivers on credit cards and digital banking services. • Offers preferential foreign exchange rates for qualifying conversions into LKR. • Serves as a gateway to formal financial services, helping independent earners build a verifiable track record to access savings, credit, and investment solutions. • Economic Context & Impact: The initiative addresses a structural shift in Sri Lanka's employment landscape, integrating the expanding ICT/BPM and digital service segments into the formal financial system to boost visibility and optimize national foreign exchange inflows. _Note: Based on official bank announcement data._
✈️ SriLankan Airlines Expands Network Across Saudi Arabia
National carrier SriLankan Airlines has announced strategic partnerships with Saudia (SV) and Flynas (XY) to significantly expand air travel links between Saudi Arabia and Sri Lanka. The collaboration aims to boost connectivity for business, leisure, and visiting-friends-and-relatives (VFR) travel. • Expanded Reach & Sectors: - Saudia provides access to 7 international destinations (including Dubai, Cairo, LA, Bahrain, and Amman) and 13 domestic points (such as Jeddah, Madinah, and Tabuk). - Flynas adds 8 international routes (including Addis Ababa, Karachi, and Tashkent) and 6 domestic points (such as Dammam and Jizan). • Flight Operations: - Passengers can connect via Riyadh and Dammam onto SriLankan Airlines' daily direct services to Colombo. - SriLankan Airlines currently operates direct flights to 34 worldwide destinations, with an overall reach of 131 destinations across 63 countries via its wider codeshare network. • Strategic Impact: Management notes the move strengthens links to the Middle East, Africa, and North America, offering smoother integration and improved travel experiences to support the island's broader tourism & aviation sector.
SLT-MOBITEL Partners with Starlink to Boost Enterprise Connectivity 🌐
Sri Lanka’s national ICT solutions provider, SLT-MOBITEL Enterprise, has signed a landmark reseller partnership agreement with SpaceX’s Starlink to deliver advanced satellite internet solutions to businesses and SMEs across the country. • The Partnership: SLT-MOBITEL will now directly offer Starlink’s low-earth-orbit (LEO) satellite network solutions, providing high-speed, low-latency connectivity to Sri Lankan enterprises. • Target Sectors: The initiative heavily benefits the SME and enterprise sectors, particularly businesses operating in remote, rural, or geographically challenging areas currently unreachable by traditional terrestrial networks. • Business Continuity: The satellite-based infrastructure provides critical redundancy to drastically reduce downtime during disasters or network outages. It supports mission-critical operations, IoT deployments, maritime solutions, and field operations. • Economic Context: According to SLT-MOBITEL, the partnership aims to drive national digital inclusion and provide future-ready infrastructure, enabling Sri Lankan businesses to maintain uninterrupted operations and compete globally.
PMF Launches "SIDQ" to Enter Sri Lanka's Islamic Finance Market 📈
• Overall Strategy: PMF Finance has officially launched its new Islamic Finance Unit, branded as SIDQ Islamic Finance, marking its debut in the Shariah-compliant financial services sector after 43 years of conventional operations. • Core Offerings & Principles: The unit will provide alternative, values-aligned financial solutions built on transparency, fairness, asset-backed financing, and shared prosperity. It aims to drive financial inclusion by targeting previously underserved market segments, particularly supporting SMEs and entrepreneurship. • Market Demand & Expansion: Driven by strong domestic demand from Sri Lanka's Muslim business community and international stakeholders, PMF plans to leverage its existing 23-branch network. The company has announced immediate plans to expand SIDQ into the Eastern Province to capture untapped alternative financing opportunities. • Strategic Backing: Launched on June 8, 2026, the initiative is supported by collaboration with Malaysia. The Malaysian High Commissioner to Sri Lanka emphasized sharing expertise in regulatory frameworks and financial innovation to enhance Sri Lanka's economic resilience.
🚗 Rs. 255 M Road Rehabilitation Project Launched on Ella–Namunukula–Passara Route
Development work has officially commenced on a critical stretch of the Ella–Namunukula–Passara road (B/113) to resolve long-standing transport difficulties for residents, estate workers, and tourists. • Overall Figures: The project is implemented by the Road Development Authority (RDA) at an estimated cost of Rs. 254.65 million under the “Cyclone Ditwah Road Rehabilitation Program.” • Project Scope & Timeline: A 3.28-kilometre severely deteriorated stretch will be fully resurfaced and carpeted. Construction is scheduled for completion within six months, targeted for conclusion by 5 December 2026. • Economic & Regional Impact: The upgraded infrastructure will significantly improve transport connectivity for tea estate communities in the area. • Tourism Boost: The rehabilitation directly enhances access to major tourist hubs including Namunukula and Ella, supporting growth in tourism infrastructure for both domestic and international visitors.
Seylan Bank Partners with Hayleys Fentons to Power EV Ownership 🔌
• Strategic Partnership: Seylan Bank PLC has teamed up with Hayleys Fentons Ltd. to launch a dedicated leasing facility for electric vehicles (EVs), aimed at promoting sustainable transport and green mobility solutions in Sri Lanka. • Exclusive Leasing Benefits: Customers purchasing specific EV brands will gain access to competitive interest rates, flexible repayment periods of up to 7 years, and fast-tracked approvals within 24 hours. • Brand Coverage: The financial solution covers premium EV brands represented by Hayleys Fentons, including JAECOO, OMODA, KAIYI, and SRM. • Service & Reach: Supported by Seylan Bank's dedicated leasing team and extensive island-wide branch network, the facility includes doorstep assistance, complimentary consultancy, and streamlined documentation handling. • National Context: The collaboration addresses the rising demand for EVs, driving financial sector innovation while supporting the country's broader transition toward cleaner and sustainable transportation.
📈 CDB and Micro Cars Partner to Offer Customised Vehicle Financing Solutions
Citizens Development Business Finance PLC (CDB) has signed a Memorandum of Understanding (MoU) with Micro Cars Ltd. to provide exclusive, tailored financial solutions for Micro vehicle buyers. Key Highlights: • Strategic Partnership: The collaboration aims to accelerate vehicle accessibility in Sri Lanka by offering simplified financing processes, flexible repayment tenors, and exclusive insurance benefits for both personal and commercial vehicles. • Broad Market Coverage: The agreement supports vehicle ownership across diverse categories. Micro Cars is the authorised distributor for MG, Chery, SsangYong, and Higer, spanning petrol, hybrid, plug-in hybrid (PHEV), and fully electric (EV) options. • Economic Context: The initiative leverages CDB's financial network alongside Micro Cars' 30-year legacy in the local automotive market to meet evolving consumer mobility needs amidst shifting fuel and technology preferences.
🤝 Assetline Finance & Hayleys Mobility Partner to Boost Mobility Financing
Assetline Finance PLC, the flagship financial services company of David Pieris Holdings, has signed a Memorandum of Understanding (MoU) with Hayleys Mobility Ltd. (the mobility arm of Hayleys Fentons Ltd) to provide flexible vehicle financing options across Sri Lanka. • Partnership Objective: The collaboration combines Assetline’s customer-focused financial expertise with Hayleys Mobility's growing automotive portfolio. It aims to accelerate vehicle ownership, promote financial inclusivity within the transport sector, and enhance customer convenience nationwide. • Strategic Focus: The agreement is designed to offer streamlined financing structures tailored to evolving market demands. This includes opening up pathways for both premium and eco-friendly vehicle options for individual and corporate customers. • Economic Impact: By making mobility financing more accessible and seamless, the initiative aims to convert vehicle ownership into a practical reality for a wider cross-section of Sri Lankans, supporting national progress and the local automotive ecosystem.
🤝 Sri Lanka & China Sign Historic MoU to Boost Tourism Education
The Sri Lanka Institute of Tourism and Hotel Management (SLITHM) signed a landmark Memorandum of Understanding (MoU) with China's Central Academy of Culture and Tourism Administration (CACTA) on June 8, 2026, following recent Cabinet approval. • Bilateral Cooperation: The agreement marks a major step forward in strengthening educational ties between Sri Lanka and China, specifically focusing on tourism and hospitality education. • Strategic Objectives: The partnership aims to enhance educational excellence, foster innovation, and prepare future Sri Lankan tourism professionals to meet global industry standards. • National Impact: Operating under the Ministry of Foreign Affairs, Foreign Employment and Tourism, SLITHM’s new collaboration is positioned to bring long-term benefits to both the domestic hospitality industry and the wider tourism sector, which serves as a critical pillar for national employment and economic growth.
📈 Janashakthi Life Extends Insurance Entry Age to 80 to Support Sri Lanka’s Ageing Demographics
• Strategic Innovation: In a first for the Sri Lankan insurance industry, Janashakthi Life has extended its life insurance coverage eligibility up to age 80, moving well past the previous market norm of 65 to 70 years. Additionally, the policy now offers life cover and maturity benefits up to age 90, aiming to provide financial continuity and stability for older citizens. • Demographic Shifts: The solution directly addresses Sri Lanka's rapidly ageing population and rising life expectancy. According to the Department of Census and Statistics, between 2012 and 2024, the Sri Lankan population aged 70–79 increased by nearly 90%, while the population aged 80–89 grew by over 63%. • National Context & Inclusion: This product addresses a critical protection gap for an expanding senior demographic that still requires long-term financial security. It builds on the insurer's history of introducing specialized national-context solutions, which previously included COVID-19, AIDS, and military coverages.
🏢 Peterson Solutions Sri Lanka Opens New Corporate Office at Orion City
Peterson Solutions Sri Lanka, the consultancy and advisory arm of the global Peterson and Control Union Group, officially inaugurated its new corporate office at Orion City, Colombo, on June 5, 2026. The move reflects the company’s rapid growth and the rising demand for value-added corporate services in the region. • Key Operational Milestones: Since commencing operations in Sri Lanka in 2023, the firm has rapidly scaled to serve more than 170 clients domestically, while also managing regional projects across the Maldives, Cambodia, and Myanmar. • Sector Impact & Core Services: The company delivers single-platform solutions across sustainability, compliance, sourcing, and certification. It actively supports vital export-driven national sectors including agriculture, textiles, information technology, logistics, and manufacturing to shift from basic regulatory compliance to global competitiveness. • Expanded Capabilities: The relocation facilitates an expanded consulting team. The firm is broadening its local portfolio into high-context areas such as data-driven ESG management, sustainable agriculture, crop consultancy (via its company Delphy), and professional training through the Peterson Academy. • Strategic Networks: Peterson Solutions leverages a wider Asia-Pacific footprint spanning 14 regional offices. Major domestic clients already utilizing these services include prominent market players such as Sysco LABS, Pelwatte Dairy Industries, INSEE Ecocycle, and Ansell.
EFC Solutions Unit Expands HR and Legal Advisory Services 💼
• Overview: The Solutions Unit of the Employers’ Federation of Ceylon (EFC) has significantly expanded its portfolio, positioning itself as a comprehensive one-stop-shop for both member and non-member businesses navigating Sri Lanka's complex regulatory environment. • Strategic HR Services: The expanded offerings focus on optimizing workforce effectiveness and governance. Key services now include HR audits, organizational restructuring, job evaluation, compensation reviews, performance management, and succession planning. • Legal & Compliance Support: The unit bridges modern HR practices with EFC's core expertise in labour law and industrial relations. It provides critical advisory support on workplace compliance, disciplinary procedures, employee relations, and employment contracts. • Capacity Building: To sustain business competitiveness and growth, the unit is also offering tailored training programs designed to strengthen leadership and managerial capabilities across industries.