News & market updates

Opposition Leader Sajith Premadasa urged a whole-of-government, science-based National Climate Resilience strategy, warning of a limited window before a likely strong 2026–27 El Niño and proposing anticipatory governance, reservoir/water management, climate-smart agriculture, early warning systems and a disaster intelligence centre.

Colombo Stock Exchange closed marginally lower as the ASPI fell 0.09% (‑19.58 pts) to 22,243.70 while the S&P SL20 rose 0.02% to 6,206.51. Market turnover was Rs 1.070 billion, telecoms led turnover with Rs 247.6 million, and the CSE delayed opening due to a technical issue.

Donald Trump reported over $1.4 billion in income from crypto ventures in his 2025 financial disclosure, including almost $800 million from World Liberty Financial and $635 million from sales of Trump meme coins. The filings say crypto has become his main income source and cite policies seen as beneficial to the industry.

Colombo-based agentic AI studio sixn.ai placed in the Top 5 and won the Best Use of Stripe Award at the SuperAI NEXT Hackathon 2026 in Singapore, competing against 80 teams and 700 applicants.

Colombo Stock Exchange indices rose after a delayed opening auction call, with the ASPI up 0.26% (57.99 pts) to 22,321 and the S&P SL20 up 0.31% to 6,224. The opening delay was blamed on a CSE-side technical issue that accidentally suspended active accounts after a new policy on inactive accounts; the CSE had not yet issued a statement.

The Ceylon Chamber met IMF staff during the fund’s recent visit to discuss sustaining macroeconomic stability and priorities for H2 2026, focusing on improving the investment climate, export expansion, tourism and agriculture support, energy-sector reforms and accelerating digitalisation.

Scouts, a Sri Lankan drone and robotics startup, closed a funding round at a LKR 1.6 billion valuation. Investors include SITREK Group and industry figures; the company targets security, precision agriculture and renewable-energy asset inspection with AI-enabled drones.

At MWC Shanghai 2026 Sri Lanka presented a plan to become a regional AI and digital-infrastructure hub, promoting green-powered data centres, submarine-cable interconnection and sovereign/local-language AI to attract investment and regional partnerships.

Asian stocks closed a strong quarter — Japan's Nikkei is set for a ~36% quarterly rise and South Korea's KOSPI about 65% — as a resurgent dollar (index +1.3% this quarter) pushed the yen to a four-decade low of 162.41 and sent gold sharply lower; Brent crude at $72.49/bbl.

SLT-MOBITEL has partnered with Versa to become Sri Lanka's first MSP to deliver Versa SASE solutions to local enterprises, and has appointed Connex Information Technologies as the local implementation partner to deploy and integrate the service.

Huawei set its Wi‑Fi 7 patent royalty at US$0.50 per unit for consumer-grade Wi‑Fi 7 devices. Licenses can be obtained bilaterally or via patent pools (including Sisvel) on FRAND terms, and Huawei says it holds a large portfolio of declared essential Wi‑Fi 7 patents.

HUTCH Enterprise, the IRCSL and industry partners launched a nationwide digital vehicle insurance verification platform in May 2026 allowing motorists to check cover via USSD *1338# or SMS. The service removes physical insurance cards, enables real-time checks for authorities and aims to reduce fraud and admin burdens.

Colombo Stock Exchange ASPI fell 0.45% midday to 22,309.09 with turnover of 951.8 million rupees, utilities contributing 448.6 million. Convenience Foods Lanka authorized an 8.00 rupee first-and-final dividend and Tokyo Cement proposed a 2.50 rupee first-and-final dividend.

The Thailand–Sri Lanka forum highlighted the newly enacted SLTFTA and reported bilateral trade rose 48% to $649m in 2025. Officials said the FTA and related measures should expand market access and investment across logistics, manufacturing, tourism, food processing, IT and healthcare.

WhatsApp will let users chat without revealing phone numbers by exchanging unique usernames; name reservation starts on 29 and the feature will roll out globally to its three billion accounts over the coming months.

Government tabled its Fiscal Strategy Statement for 2027 and defended recent tax amendments, clarifying that digital VAT targets non-resident service providers and that the reduction of the compulsory VAT registration threshold from Rs.60m to Rs.36m has been postponed.

Colombo bourse finished the week higher, with the ASPI up 0.21% and the S&P SL20 up 0.51%; yesterday ASPI closed at 22,409.81 and the S&P SL20 at 6,247.42. Turnover topped Rs.1.9bn with foreign net inflow of Rs.9.3m; COCR, PKME and SIL led turnover while ACL fell and Hayleys, HNB Finance, Lanka Realty and CIC posted gains.

Asian shares pulled back after Apple raised iPad and MacBook prices (Apple shares slid 6.1%), denting chip stocks and sending MSCI’s Asia‑Pacific ex‑Japan index down 3.8%; the yen hovered near 40‑year lows and Brent crude fell to $73.9/bbl.

Three licensed telecom infrastructure providers (EDOTCO Services Lanka, SGH TowerCo and Tantri Trailers) launched the Sri Lanka Digital Infrastructure Forum to promote infrastructure sharing and advance national telecommunications infrastructure. The non-profit forum will engage regulators and policymakers to support network expansion and extend connectivity to underserved areas.

John Keells Holdings chair Krishan Balendra was re-elected Chairperson of The Ceylon Chamber of Commerce at its 187th AGM for 2026/27. The Chamber's board includes executives from Hayleys, Renuka Hotels and Dialog Axiata, and said 18 of its Budget 2026 recommendations on trade, digitalisation and investment were adopted.

Colombo Stock Exchange closed higher with the ASPI up 0.89% to 22,407.04 and the S&P SL20 up 0.99% to 6,242.75 on Rs.2.72bn turnover; foreign investors were net sellers of Rs.50.3m.

Ceylon Chamber re‑elected Krishan Balendra (Chairperson of John Keells Holdings PLC) and named its 2026/27 board, which includes executives from Hayleys PLC, Dialog Axiata PLC and Renuka Hotels PLC.

Colombo Stock Exchange rose 0.89% as the ASPI gained 198.46 points to 22,407 and the S&P SL20 rose 0.99% to 6,242, with turnover of 2.7 billion rupees. Top positive contributors were Dialog Axiata, John Keells and Hayleys, while Bukit Darah and Colombo Fort Land & Building were top decliners.

Asian equities surged after strong Micron and Qualcomm earnings eased AI-related worries, lifting MSCI Asia-Pacific ex-Japan about 1.6% with Japan's Nikkei >4% and South Korea's KOSPI +5.5%. Oil fell to roughly $72.5/bbl and gold slid below $4,000 amid a firmer dollar and lingering rate-hike expectations.

Enfection has established operations in Melbourne, Australia as part of its Asia-Pacific expansion into AI-powered marketing. It is running AI workshops, has collaborations with the Australian Institute of Architects and Melbourne Polytechnic, and aims to export marketing technology from Sri Lanka.

The Thailand–Sri Lanka Business Forum centred on implementing the Sri Lanka–Thailand FTA to boost trade and investment after bilateral trade reached USD 649m in 2025 (+48% vs 2024). Delegates highlighted opportunities in logistics, manufacturing, food and agriculture, IT, healthcare and tourism and urged streamlined customs and predictable FTA implementation.

SLT-MOBITEL sponsored and powered connectivity for the Grand Finales of the 2026 SLIoT Challenge and IESL RoboGames, enabling demonstrations and competitions across school, undergraduate and open categories. Winners included Team Quarista (SLIoT School) and RoboticGen Labs (SLIoT Open), and Controlled Chaos (RoboGames School) and Team Ascension (RoboGames Open).

Colombo market fell 0.22% as the ASPI closed at 22,208.58 with turnover near Rs.1.2bn and foreign net outflows of Rs.130.6m. Main negative contributors included SAMP, JKH, LOFC, GRAN and RICH, while SPEN, BOGA and HAYC recorded gains.

Colombo Stock Exchange indices rose, with the ASPI up 0.37% (82.93 pts) to 22,291.51 and the S&P SL20 up 0.56% to 6,216.28. Top contributors included John Keells, Windforce, Ceylon Grain Elevators and Sampath Bank; market turnover was LKR110.3m, led by materials (LKR60.4m), while Brent crude fell below $73/bbl.

Sri Lanka's total exports for Jan–May 2026 reached US$7,393.39 million (+7.56% YoY), with May exports of US$1,570.64 million (+18.34% YoY). Growth was broad-based across merchandise and services, led by apparel, coconut products, rubber gloves, electrical/electronic components and ICT/BPM, while tea slipped marginally.