News & market updates

LCB Finance reported a 55% rise in PBT to Rs. 439 million for the year ended 31 March 2026, with total assets at Rs. 12.87 billion. Operating income rose 36.9% to Rs. 1.34 billion, lending grew 32% to Rs. 10.30 billion, gold loans surged 136% and deposits rose 35% to Rs. 6.29 billion.

Amana Bank Plc launched 'Amana Bank Teen Savings', a new account for 13–17 year-olds offering a personalised Visa debit card, parental preset transaction limits, online banking access, instant alerts and rewards for top exam results. Parents can open accounts via the app e-mail feature or at branches and transfer profits from existing Amana Kids or Flexi Term accounts.

The IMF held talks with the Revenue Administration Reform and Modernisation Bureau (RARMB) and agreed to continue providing technical assistance for reforms to customs, the Inland Revenue Department and excise. RARMB restructuring and measures have lifted tax compliance from about 40–45% to 70–75% and include digital transformation, data integration and a drafted Customs amendment bill.

Colombo Stock Exchange fell, with the ASPI down 0.39% to 21,995.04 and the S&P SL20 down 0.27% to 6,150.33. Top negatives included Melstacorp, John Keells and Carson Cumberbatch while Digital Mobility Solutions, Royal Ceramics and Haycarb were positive; turnover was LKR 1.13 billion.

Bybit EU secured full MiCAR authorization ahead of the July 1, 2026 transition deadline, while several major exchanges failed to obtain authorization and have restricted or exited EU markets, leaving an estimated 10 million users in transition. Bybit EU's authorization covers custody, exchange, transfer and placement of crypto assets.

Asian stocks drifted lower despite Samsung Electronics forecasting a 19-fold jump in Q2 operating profit, as the yen hovered near 40-year lows, oil prices rose modestly and U.S. yields inched up amid geopolitical and Fed policy uncertainty.

SLT-MOBITEL powered the 'Sadaham Sabendiyava' Poson Poya event in Anuradhapura using its 5G network to deliver immersive experiences such as an illuminated Water Pandol and a 3D interactive tunnel. The initiative also included digital greetings and Data and Ice Cream Dansalas as community outreach.

Sampath Bank has launched Google Pay for all Visa and Mastercard credit and debit cardholders in Sri Lanka, enabling tap-to-pay and tokenized transactions on Android devices. Cardholders can digitise cards for in-store, in-app and online payments, enhancing mobile-first, contactless use.

Sampath Bank PLC launched Google Pay for Mastercard and Visa credit and debit cardholders, enabling tap-to-pay on Android for in-store, in-app and online transactions. The service uses tokenization for security and supports global merchant acceptance without physical cards.

The Sri Lanka Export Development Board has kept online exhibitor registration for Sri Lanka Expo 2027 open until 31 July 2026. The expo will run 14–17 January 2027 at BMICH with 650 booths and opportunities to meet over 1,500 global buyers across 25 sectors.

Pan Asia Banking Corporation PLC (PABC.N0000) won the Grand Prix and four Gold awards at the 15th ACEF Global Customer Engagement Awards 2026, recognised for digital onboarding, TV+digital campaign planning and the 'One Click Thousand Trees' sustainability initiative.

Connect to Care Consulting has registered as a Voluntary Social Services/NGO and completed governance and institutional strengthening, appointing new board members and rolling out Microsoft Dynamics and Asana to boost transparency, financial stewardship and programme delivery.

CanCham Sri Lanka presented a Five-Year Strategic Tourism Development Plan to the Canadian High Commissioner and said the draft will be finalised within 60 days. The chamber also announced plans for a business delegation to Canada, scholarships, CSR initiatives and referenced Canada's CAD 500 billion Indo-Pacific commitment.

CIPM convened a roundtable of 30 stakeholders to address Sri Lanka's widening skills gap, noting shortages across IT, tourism, construction, manufacturing and healthcare and recommending industry-academia partnerships, vocational reforms and upskilling initiatives.

Commercial Bank of Ceylon (COMB.N0000) was named Best Bank in Sri Lanka for the 15th consecutive year at the FinanceAsia Awards 2026 and won six additional country awards. Awards included Best Bank for SMEs, Best Bank for Use of Technology, Best Islamic Finance House, Best Sustainable Bank, Best Private Bank and Best Retail Bank.

Samsung flagged a 19-fold jump in Q2 operating profit to 89.4 trillion won and revenue up about 129% to 171 trillion won. Shares fell as investors worried the AI-driven memory chip boom and related data-centre spending may not be durable despite rising memory prices.

The government launched 'Badhu Shakthi 2026' National Tax Week, a year-long initiative to boost state revenue and voluntary tax compliance with a countrywide awareness campaign (National Tax Week observed 6–10 July). Officials said higher tax revenue is being used to finance infrastructure and disaster relief, citing Rs.500 billion for Cyclone Ditwah response.

Asian shares eased as investors awaited a key AI earnings season and oil slipped after OPEC+ raised output targets; softer U.S. payrolls and lower energy costs cut the chance of an imminent Fed hike. Futures imply about a 78% probability of no rate change at the July 29 meeting.

Kaspersky warns of growing 'Shadow AI' risks to SMBs, with its solutions detecting over 33,300 attacks disguised as AI services between Jan–Apr 2026 — almost five times the 2025 level. Top malware lures were ChatGPT (42%), Claude (24%) and DeepSeek (20%); the piece outlines mitigation steps for SMBs.

Expo Leisure Cluster won six awards at the 8th SLASSCOM National Ingenuity Awards 2026 on 16 June, including national wins for EVS Study Fly (Edu-Tech), EVS EZ Visa App (E‑Commerce) and Classic Travel's Competitor IQ (Hospitality). The wins underscore the cluster's investment in digital platforms across travel, tourism, visa and education to improve customer experience and efficiency.

Daraz Sri Lanka launches its 7.7 Super Savings Sale from 6 July (8 PM) to 17 July, offering vouchers worth Rs. 50 million, free delivery and discounts up to 80%. Brand partners include Hemas, and Commercial Bank and NTB cardholders get extra discounts during Brand Rush Hour and the campaign.

Citrus Leisure PLC reopened Citrus Waskaduwa (after a one-month refurbishment) and Citrus Hikkaduwa (after a two-month refurbishment) on 1 July 2026. The properties feature refreshed rooms, upgraded facilities and infrastructure, staff service training, and the group plans AI-driven digital enhancements for guest experiences.

SLT-MOBITEL held an internal AI-Assisted Coding Challenge 2026 to advance AI-driven solutions; team NEXGEN CREATORS won the overall prize, with LEXI and ThunderDC placing as runners-up.

Sophos was named a Champion in the Omdia Cybersecurity MSP Ecosystems Leadership Matrix 2026, recognized for its MSP-focused MDR service and partner programs; Sophos MDR protects 40,000 direct customers and 235,000 customers through MSPs.

Dialog Axiata PLC was named Sri Lanka's Most Loved Brand in the Service and Telecommunications sectors for the third consecutive year in the LMD Brands Annual survey. It also won 'Service Brand of the Year' (fifth time) and 'Telecommunication Brand of the Year' (15th consecutive year) at the SLIM-KANTAR People's Awards 2026 and highlighted investments in 5G, AI-driven services and renewable energy initiatives.

Softlogic Information Technologies (part of Softlogic Holdings) won Xerox's Outstanding Performance award for FY2025/26 for its exceptional sales of Xerox imaging products, reflecting significant growth and market presence. The company cited strengthened offerings after Xerox's acquisition of Lexmark and island-wide in‑house service across all 25 districts.

The British Council will hold the free South Asia TeachingEnglish Online Conference 2026 from 23–25 July, a three-day virtual event bringing educators across South Asia to discuss embedding creativity, inclusion and technology (including AI) in English language teaching.

Seylan Bank PLC (SEYB.N0000) has integrated all Seylan credit and debit cards with Google Pay, enabling secure, tokenised contactless Android payments supported by Visa and Mastercard.

ESOL Premier Campus has launched OCN London (Ofqual-regulated) UK qualifications in Sri Lanka via an exclusive partnership, offering Level 3–7 pathways in English, business, education and digital marketing through online and hybrid delivery.

CFA Society Sri Lanka held its Charter Awards Ceremony, celebrating 27 new CFA charterholders. Chief Guest Rachini Rajapaksa highlighted the importance of technical knowledge, ethical judgment and the growing role of AI in the finance and investment industry.