News & market updates

Crystal Property Group launched MIRA Weligama, an ultra-luxury branded residence of 44 units priced from US$400,000 and managed by The One Group, with completion scheduled for September 2028.

The Ceylon Chamber of Commerce will host a business networking session with a 30-member Indian Chamber of Commerce delegation on 28 July at the Hilton Colombo Residences to connect Sri Lankan firms with Indian companies. Participating sectors include manufacturing, construction, healthcare, IT, renewable energy and tourism.

Colombo market extended its rebound as the ASPI rose 0.24% (49.81 pts) to 21,199.37 and the S&P SL20 gained 0.22% to 5,945.87, with turnover about Rs.1.1bn and foreigners net sellers of Rs.188.6m. Top contributors included HNB, CARS, CINS, NDB and TKYO; NDB, SAMP and PKME gained while MELS fell and JKH closed flat.

Ceylon Chamber will host a business networking session with a 30-member Indian Chamber of Commerce delegation on 28 July at the Hilton Colombo Residences, offering Sri Lankan firms opportunities to explore trade, investment and partnerships across sectors including manufacturing, construction, healthcare, IT, renewables and tourism.

Global sustainable consulting is forecast to reach $27.21bn by 2034, growing at a 9.5% CAGR from $11.79bn in 2025 as mandatory ESG rules and decarbonisation drive demand for sustainability advisory. Manufacturing, energy, infrastructure/green building and professional services are the main demand centers, with consultancies expanding digital and operational capabilities.

Green finance is emerging in Sri Lanka to channel investment into renewable energy, green bonds, ESG-linked lending and sustainable infrastructure to boost climate resilience and economic recovery. Banks, capital markets, developers, tourism operators and tech firms are highlighted as key participants.

Sri Lanka's large EEZ and strategic maritime location offer opportunities to grow a Blue Economy across fisheries, ports/logistics, tourism, aquaculture, marine biotechnology and ocean renewables. Realising this will require ESG-aligned investment, tech adoption, sustainable management and coordinated policy.

Lanka Realty Investments PLC (ASCO.N0000) sold its 50.88% controlling stake in On'ally Holdings PLC (ONAL.N0000) to Lee Hedges PLC (SHAW.N0000) for about Rs.2.26 billion, unlocking capital and an estimated separate-company gain of ≈Rs.834.09m before costs. Lee Hedges gains Unity Plaza, boosting recurring rental income and scale.

CBSL Governor said private sector credit expanded 27.8% year-on-year in the first five months of 2026, with outstanding private credit at Rs.11.04 trillion in May. He said the 100-basis-point policy rate hike in May and other measures are expected to gradually moderate credit growth and demand pressures.

Colombo market rose after the Central Bank held policy rates steady; ASPI +0.02% to 21,149.56 while S&P SL20 fell 0.21%. SEYB, PKME, CARG and SEMB were main positive contributors as real estate management & development drove 65% of turnover with crossings in ONAL; foreigners net-sold Rs.241m.

Sri Lanka's Industry Minister Sunil Handunneththi visited India (14–18 July 2026) to advance cooperation in textiles, manufacturing, agribusiness, technology, investment and tourism. He met Indian textile ministers at BharatTex, toured RIICO's industrial park and a Mega Food Park, held a FICCI roundtable and discussed direct air links and investment opportunities.

Sri Lanka's services exports rose 3.75% year-on-year to $344.52m in June 2026, led by ICT/BPM (+11.31% to $150.49m) and financial services (+29.56% to $3.21m); construction fell 26.14% and transport and logistics dipped 0.79%.

Companies can cut carbon footprints and reduce energy costs with low-cost steps — upgrading equipment, switching to renewables, optimizing transport, working with suppliers, reducing waste and measuring emissions to find savings.

Adopting circular economy practices can turn Sri Lanka's municipal, agricultural and industrial waste into economic value through recycling, reuse, and waste-to-energy, improving resource efficiency and creating jobs. Opportunities span manufacturing, construction, agriculture, packaging/retail, and digital technologies for material tracking and financing.

The Geoffrey Bawa Trust launched the Moonamal Award to recognise built-environment and public-policy projects in Sri Lanka that promote ecological design and human–nature coexistence; applications open August 2026 and the inaugural winner will be announced mid-2027.

Colombo Stock Exchange ASPI rose 0.40% (up 85.60 pts) to 21,235.16 as banks led turnover (LKR 76.8m) and the S&P SL20 gained 0.73%. Commercial Bank announced the final allotment for its Basel III Tier-2 debenture issue, which was oversubscribed with applications for 244.23m debentures (LKR 24.42bn) and 150m debentures allocated to identified investors.

Cabinet approved forming a multi-agency committee to recommend transferring around 60 roads from Provincial Councils and local authorities to the Road Development Authority for urgent rehabilitation. The panel will study legal, administrative and institutional arrangements and includes representatives from relevant ministries, the RDA and provincial bodies.

Phoenix Miras Ltd. has committed to invest in a Grade-A office development, Colombo Gateway, on Plot 1-01-04 in Port City Colombo. CHEC Port City Colombo said the project reinforces investor confidence and aims to create a premier commercial address within Port City.

Colombo Stock Exchange closed up 0.02% as the ASPI rose 3.83 points to 21,149.56; top positives included Seylan Bank (98.90) and PickMe, while John Keells (19.60), Hayleys (227.00) and Access Engineering (74.90) were the main detractors.

Sri Lanka's High Commissioner in Kuala Lumpur and the Federation of Malaysian Sri Lankan Organisations agreed to boost tourism and investment ties, exploring improved air connectivity and projects such as hotels, theme parks and golf/leisure developments to promote travel and cultural links.

Sri Lanka Corporate Director Summit 2026 ('Future-Ready Sri Lankan Directors') kicks off today at Cinnamon Grand Colombo, fully sold out and featuring local and international business leaders, including Tokyo Cement Chairman Dr. Harsha Cabral.

Surveyors' Institute of Sri Lanka will celebrate its centennial on 2 August 2026, marking 100 years of service to surveying, mapping and land administration. The institute will hold technical sessions and a gala, and is promoting digital land administration, geospatial innovation and stronger professional standards.

Colombo Stock Exchange ASPI fell 0.22% (47.45 pts) to 21,160.65 with turnover Rs 3.28bn, led by food & staples retailing and large crossings dominated by Cargills. Dialog, John Keells, Aitken Spence and Lanka Ashok Leyland were top gainers while Ceylinco Insurance, Harischandra Mills and HNB were top losers.

Serendib Land PLC has appointed Rajiv Dharmendra, CEO of MAS Intimates, as an Independent Non‑Executive Director. Dharmendra has over 21 years at MAS Holdings and was also appointed a Non‑Executive Director of Sri Lanka Insurance Corporation effective 1 Jan 2025.

Commercial Bank of Ceylon MD/CEO Sanath Manatunge has been appointed Chairman of the Employers' Federation of Ceylon at the organisation's 97th AGM. He succeeds Dinesh Weerakkody, will serve alongside Vice Chairman Dinal Peiris (Lanka Aluminium) and holds other sector leadership roles.

IGT I Outsourcing Lanka moved into Port City Colombo and has grown to just over 500 staff serving international clients, highlighting Port City’s role in boosting Sri Lanka’s ICT exports (ICT/BPM exports $1.64bn in 2025). The article urges predictable tax treatment after a 2026 amendment changed employee tax in the zone and calls for digital process improvements to keep talent and investment.