News & market updates

HNB and DIMO have formed a strategic partnership to offer tailored leasing solutions for heavy machinery (Komatsu, BOMAG, Kaeser, Everdigm, Gehl, Car Mix). HNB will provide special leasing rates, a waived first-year credit card fee and discounted machinery insurance through its group.

Ministry of Brands opened its second Sri Lanka outlet, a 7,000 sq. ft. store at One Galle Face Mall that opened on 26 April 2026. The off-price retailer offers over 2,000 international labels with discounts up to 90% and plans further expansion into Pakistan, South Asia and Australia.

Colombo market closed in the green for a fourth straight session as the ASPI rose 0.07% to 22,635 and the S&P SL20 gained 0.18% to 6,241.01; turnover was about Rs.4.2bn and foreign investors were net sellers of Rs.332.5m. CINS, BREW and JKH were among top contributors while diversified financials and banks led turnover.

Sri Lanka Customs exceeded its April revenue target, collecting 186.5 billion rupees by April 27 against a 181.3 billion target, marking the fourth consecutive monthly outperformance. Officials attribute the surge to stronger enforcement, improved valuation and a rebound in import volumes, and customs has reached 39.4% of its 2,207 billion annual target in the first 117 days.

Singer (SINS.N0000) will acquire ACME Printing and Packaging PLC's factory premises in Piliyandala for Rs. 630,000,000 under a sale-purchase agreement dated April 28, 2026. Singer says the purchase is intended to expand its local manufacturing business.

Colombo Stock Exchange was up midday with the ASPI +0.05% at 22,631.02 and S&P SL20 +0.22% at 6,243.14. Top contributors included Sampath, Commercial Bank and Ceylon Guardian, while Vallibel One and Janashakthi lagged; turnover was Rs2.2bn and Singer agreed to buy ACME's Piliyandala factory for Rs630mn.

Singer (Sri Lanka) agreed to buy ACME Printing and Packaging's Piliyandala factory for Rs630 million to expand its local manufacturing. ACME said the sale is part of its restructuring; Singer reported a 47% rise in December-quarter profits to Rs2.1 billion.

Colombo Stock Exchange closed up, ASPI +0.07% to 22,635, with diversified financials leading turnover (Rs 1.98bn) helped by the debut of Janashakthi; total market turnover was Rs 4.19bn.

Ceylon Tobacco Company PLC appointed Sarmad Abbasi as Managing Director and Chief Executive Officer, effective 1 May 2026. Abbasi, a British American Tobacco Group veteran with over 15 years in senior regional and brand roles (most recently GM Iraq), succeeds Fariyha Subhani.

President Anura Kumara Dissanayake directed the Inland Revenue Department to accelerate tax-reform measures and fast-track a national e-invoicing rollout, insisting the system be completed within the stipulated timeframe. Officials reviewed IRD 2026 progress and discussed institutional restructuring and digitalisation.

XPENG will launch the all-new G6 in Sri Lanka via Evolution Auto on 15 May, offering up to 480 km (WLTP) range and Level 2 autonomous driving. The premium EV targets local buyers with features including a 15.6-inch central touchscreen, 570L boot and integrated mobile app.

The ASPI rose 0.20% (44.68 pts) to 22,612.31 as foreign investors were net buyers of Rs. 242.25m; market turnover was nearly Rs. 3bn on 141m shares. Gains were led by CINS, DIAL, SAMP, CARS and DFCC, with food, beverage & tobacco leading turnover (25%) and capital goods plus real estate adding 25%.

President Anura Kumara Dissanayake met Inland Revenue officials to push programmes to broaden the tax net, maximise compliance, recover arrears and complete national e-invoicing and IRD digitalisation on schedule. Recent reforms include VAT at 18%, repeal of SVAT and broadened withholding tax covering gig-economy service providers.

Colombo Stock Exchange All Share Price Index rose 0.20% to 22,612 as retail-driven activity lifted the market. Listed energy firm WindForce said it entered a loan agreement with IFC to obtain up to $18 million in two phases.

Nations Trust Bank will take over HSBC's Sri Lanka retail banking operations and the Rs.18 billion portfolio effective 1 May, with services expected to resume from midday 2 May after a system migration blackout. HSBC will suspend various services from 24 April and fully cut access from 7 p.m. on 30 April.

Infinix unveiled the NOTE 60 Series in Colombo, introducing an AI Matrix Display and Snapdragon-powered 5G performance. The series, launched with partners including Qualcomm and JBL, is now available nationwide across retail and online channels.

Diesel & Motor Engineering (DIMO.N0000) hosted the Mercedes‑Benz Flying Doctor Service Clinic from 6–10 April 2026 focused exclusively on EQ electric models, providing factory-level diagnostics and one-on-one technical consultations to strengthen EV aftersales support in Sri Lanka.

Colombo bourse fell 0.9% for the week (ASPI down 205.7 pts) with year-to-date net foreign outflows reaching Rs. 24.9 billion. CINS, CTC, COMB, JKH and MELS were top positive contributors; market turnover exceeded Rs. 2 billion with capital goods, food/beverage/tobacco and banking leading activity.

The Colombo market closed lower as the ASPI fell 0.32% (73.23 pts) to 22,566.58, with foreign investors a thin net buyer of Rs. 3.4m. Top negatives included Bukit Darah, Ceylon Beverage, RIL Property and Sampath; turnover was led by food & beverage while Ceylon Cold Stores and Nawaloka gained and Access Engineering and Softlogic Capital fell.

Sri Lanka's cumulative exports for Jan–Mar 2026 reached US$ 4,308.11 million, up 1.59% year-on-year. March exports were US$ 1,467.31 million (down 5.2% YoY but up 9.0% month-on-month), with strength in coconut, processed food, electronics and services while apparel and tea declined.

Fitch warns emerging Asia could face rising food-cost pressure if a prolonged US–Iran war disrupts fertiliser supplies, noting nitrogen urea prices have risen about 50% to roughly USD700/tonne and could cut yields and raise food prices later in 2026. Countries with low stockpiles and import dependence are most exposed.

WFP warns the Middle East conflict is threatening Sri Lanka's recovery by driving fuel costs up 33–40%, raising food and fertiliser import bills (Sri Lanka imported $2.5bn of food in 2025) and risking remittances (around 80% originate in the Gulf). These shocks could push inflation higher, weaken the rupee, strain reserves and hit tourism and household food security.

Advocata Institute says the recent LPG retail increase of Rs.775 left a shortfall of Rs.225–425 per 12.5kg cylinder after Saudi Aramco’s benchmark added Rs.1,000–1,200 to landing costs, with the gap covered by cross-subsidisation that shifts costs onto households. It urges cost-reflective pricing and targeted cash transfers.

Foreign investors were net sellers on the CSE yesterday with a net outflow of Rs. 2.52 billion, driven mainly by trades in Softlogic Life, Ceylon Tobacco and Hayleys Fabric. MTD net foreign outflow stood at $5.1 billion and YTD outflow at Rs. 25 billion, Asia Securities Research said.

Prima KottuMee returns as the Hot ‘N’ Spicy food partner for Sri Lanka Rugby’s New Zealand Under‑85kg Tour, sponsoring matches on 25 April at Colombo Racecourse International Stadium and 3 May at Nittawela Rugby Stadium.

Cargills (Ceylon) PLC's Cargills Food City was named the People's Supermarket Brand of the Year 2026 at the SLIM Kantar Awards for the fifth consecutive year. The chain operates 562 stores nationwide and is expanding retail footprint, cold-chain logistics and solar energy investments.

Colombo market ended marginally higher as the ASPI rose 0.06% to 22,639.81 despite net foreign selling of Rs.2.52 billion. Softlogic Life (AAIC) and Ceylon Tobacco (CTC) topped foreign selling and AAIC led turnover with a ~Rs.1.3bn crossing; insurance, food & banking dominated activity.