News & market updates

Fitch says a rising share of emerging-market sector outlooks are 'deteriorating' as the US–Iran war disrupts oil supplies, explicitly flagging APAC banks in Sri Lanka and the Philippines as hit by the shock. Sovereigns may see spillovers to growth, inflation and bond yields.

Sri Lanka Customs will implement a new comprehensive fee and operational framework from 1 July 2026, revising customs service charges, cargo examination fees and ICT user fees (e.g., FCL export exam fee set at Rs.600 for the first container; BOI ICT fee Rs.16,000 per user).

Serendib Hotels PLC has appointed Minor Hotel Group CFO Wayne Williams as a Non-Executive Director. Williams brings nearly 20 years at Minor International and experience from a hotel group operating over 560 hotels and generating more than $5bn in revenue.

ITC Ratnadipa, Colombo is hosting a Father’s Day Brunch at the Indian Ocean Pavilion on 21 June 2026 priced at LKR 9,500 nett per person (served 12:30–15:30); bookings by 19 June receive a 20% discount. Nutmeg, the hotel's gourmet shop, will offer Father’s Day cakes and cupcakes on 20–21 June.

Kurundu Wellness at Cinnamon Life is hosting an International Yoga Day Signature Experience on 20–21 June 2026, limited to 50 participants per day with packages priced at LKR 25,000++, LKR 40,000++ and LKR 55,000++. Packages include yoga, sound healing, access to wellness facilities and optional signature massage.

Emirates marks 40 years of service to Colombo, having carried over 15 million passengers on more than 97,000 flights and currently operating three daily services linking Colombo to 135+ destinations. It has uplifted 403,000 tonnes of cargo over the past two decades and expanded interline ties with SriLankan Airlines to 30 routes.

A Peking University delegation led by Prof. Wang Weijia held high-level meetings in Colombo to explore deeper Sri Lanka–China cooperation, prioritizing trade and FDI in logistics, energy, tourism and Port City Colombo and potential areas like high‑tech manufacturing and pharmaceuticals.

A diplomatic briefing on 12 June 2026 was held to promote the rescheduled Sri Lanka Expo 2027, now set for 14–17 January 2027 at BMICH, with about 100 foreign mission representatives invited to support attracting buyers, investors and business delegations.

The Kingsbury PLC obtained an enjoining order from the Colombo District Court on 8 June 2026 restraining former minister Wimal Weerawansa from republishing a video alleged to defame the hotel; the company sought Rs. 1 billion in damages and the case is listed for 22 June 2026.

Manufacturing PMI rose to 56.6 and Services PMI to 56.9 in May, indicating expansion in both sectors. Manufacturing was driven by food & beverages and textiles, while services growth was led by financial, professional services and IT; outlook buoyed by expected tourist arrivals but risks from the Middle East conflict persist.

The Presidential Task Force chaired by Tourism Minister Vijitha Herath reviewed major tourism initiatives, including the proposed Southern Mist Corridor across Galle, Matara and Ratnapura and a 10-year Maritime Tourism Corridor with phased ferry services starting from Jaffna. The meeting also covered film-tourism facilitation, skydiving development at Koggala, whale-watching rules and visa/security measures.

The Shoppes at City of Dreams Sri Lanka will host Cake Date on 27 June, a community gathering celebrating connection through shared cake. Retailers within The Shoppes will join the activation as part of a broader calendar of community-driven events to build the destination’s role as a social and lifestyle hub.

A Sweden–Sri Lanka Business Council dialogue study found members prioritise simplified visa procedures, predictable tax rules, smoother compliant capital flows, clearer profit repatriation, reliable banking relations and measures to curb brain drain. The 20-respondent study will guide the Board's priorities and engagement with embassies.

Sri Lanka received 54,465 tourists in the first 14 days of June, down 9% year-on-year. Year-to-date arrivals to 14 June were 1,076,487 (1.2% lower YoY), with India the largest source market (25% YTD), followed by the UK and Russia.

The rupee opened stronger, with the USD/LKR spot at Rs.333.00/334.50 (versus Friday’s 335.50/336.00) after the Central Bank cut the period for exporters to convert proceeds to 30 days from 90, earlier pushing the rate to Rs.332.25/333.00.

CBSL Governor Nandalal Weerasinghe told Parliament the Sri Lankan rupee weakened 8% vs USD between end-2025 and 9 June 2026 and defended a flexible exchange rate under the FIT framework as a shock absorber, citing higher imports, lower tourist inflows, speculation and financial outflows.

Cinnamon Life at City of Dreams Sri Lanka (John Keells Hotels) is running Father’s Day promotions from 19–21 June offering limited-edition 'Super Dad' 500g cakes at LKR 4,500++ and a slow-cooked short ribs dinner with free-flow pints priced at LKR 14,500+++ per person.

Dinking Divas 2026, Sri Lanka’s first women-only pickleball tournament, will be held 20–21 June 2026 at Colombo Pickle Club to encourage female participation—particularly women over 40—and build community and pickleball-related tourism activity.

Government extends the deadline for submissions to the MRIA investment EOI process to 9 July (EOI documents open until 8 July). Proposals must remain valid for 120 days (until 5 Nov) and guarantees for 150 days (until 5 Dec).

Parliament’s Committee on Public Finance flagged weaknesses in Sri Lanka’s external sector statistics, saying tourism earnings are hard to measure and that informal forex flows and unauthorised foreign payment gateways are blind spots. CBSL said premiums have narrowed, invited money-transfer operators to register and said investigations into illegal payment gateway use are under way.

NH Bentota Ceysands Resort is enhancing its coastal hospitality under General Manager Anil Chavan, who brings over 22 years of industry experience. The 165-room resort highlights dining, water sports, family facilities and event hosting to strengthen its leisure offering.

The Sri Lanka–Thailand Business Council marks its 25th anniversary with a celebration on 19 June at the Kingsbury Hotel and a 25-member delegation from the Board of Trade Thailand in attendance. The council highlights opportunities for trade and investment across tourism, IT/digital, renewable energy and healthcare.

The Sri Lanka Business Council UAE held a 35th-anniversary investment forum in Dubai on 11 June that drew 225 UAE business leaders and investors. Colombo Port City presented investment opportunities and speakers encouraged investment in tourism, hospitality, IT, logistics, manufacturing and renewable energy in Sri Lanka.

A seminar on recent mid-year tax reforms will be held on 24 June 2026 at Cinnamon Lakeside, covering increases to CGT, criminalisation of tax offences, new income tax calculations, expanded CGIR powers, digital VAT and lower VAT/SSCL thresholds. It is targeted at hotel management, banking/finance compliance and tax professionals.

Government and JICA aim to restart construction of Bandaranaike International Airport Terminal 2 by November after high-level talks to finalise loan allocation and contract value. JICA says the terminal could be completed within 30 months after work resumes and Finance Ministry approval for additional loan is being sought.

ADB announced a $4 billion financing package to help 15 countries, with Sri Lanka first to receive $100m, to mitigate economic fallout from the Middle East conflict. The package includes about $3bn in government-requested support and $1bn for trade finance, raising Sri Lanka's planned 2026 ADB budget support to $480m.

Bollywood stars Shilpa Shetty Kundra, Aditya Roy Kapur and Jacqueline Fernandez arrived in Colombo to headline the launch of Home Lands Group’s 'Central Park Boulevard Port City' at Cinnamon Life/City of Dreams.

Lakarcade won the 2026 Tripadvisor Travellers' Choice Award, placing the Colombo-based gift and souvenir retailer in the top 10% of attractions and hospitality businesses worldwide. The recognition, based on traveller reviews, underscores its appeal to international visitors and shoppers.

ADB is providing $4 billion in rapid financing — about $3 billion requested by governments and $1 billion in trade finance — to help countries, including Sri Lanka, withstand fallout from the Middle East conflict. Support includes policy-based loans, trade finance for energy and food imports, and rapid repurposing of existing funds.

ADB is deploying $4 billion to help countries including Sri Lanka manage impacts from the West Asia conflict, with about $3 billion requested by governments and $1 billion for trade finance for energy and food imports. Support includes policy-based loans, countercyclical financing, rapid repurposing of portfolios and emergency assistance.