News & market updates

Scouts.io closed a funding round at a Rs. 1.6 billion valuation. Investors include SITREK Security Solutions and an investor connected to Janashakthi/First Capital; Scouts offers AI/ML drone systems for security, inspections, precision agriculture, emergency response and conservation.

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.

Euro Motors unveiled a standout exhibition stall at EV Motor Show 2026 featuring Sri Lanka's largest LED display and the country's first 3D LED experience, created and delivered by Emerging Events.

Sampath Bank PLC retained Sri Lanka's Best Retail and Best Commercial Bank titles for the 12th year and won Best Corporate Governance – Sri Lanka 2026 at the World Finance Banking Awards. The awards highlight the bank's performance, digital capability expansion and governance practices.

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.

Hayleys Agriculture Holdings launched the 'Where Value Blossoms' campaign to position itself as a diversified, export-focused agricultural group (HJS Condiments ≈60% of Sri Lanka's processed fruit & veg exports). The company highlights digital platform OMNIX, sustainability measures (27% of water from sustainable sources), a 12,500+ outgrower network and a Haychem Bangladesh subsidiary.

IIHS has opened a Biological Foundation Programme for O/L-qualified students offering four pathways (Healthcare, Sports, Health Management, IT in Health) to fast-track progression toward bachelor's degrees and international healthcare and health-technology careers.

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.

People's Leasing & Finance PLC presented its AI-enabled 13th Integrated Annual Report for FY2025/26 to People's Bank chairman on 22 June 2026, adding WhatsApp interactions, AI video/text chatbots, multi-language and accessibility features and full compliance with SLFRS S1/S2 sustainability disclosures.

Citizens Development Business Finance PLC (CDB.N0000) ran its sixth SMB Fair in Kandy on 19–20 June, showcasing local SMEs and offering a 25% cashback via CDB SELF QR payments. The two-day event drew over 1,000 visitors per day and aimed to boost small-business growth.

CanCham SL convened a high-level dialogue on 17 June 2026 on women's economic empowerment and SME sustainability with public and private leaders from Sri Lanka, India and Canada. The chamber said it will form a core stakeholder group and host an Economic Summit for Women to boost market access, financial inclusion and support for women-led SMEs.

Future Builders Lab, launched by Generation ALPHA in collaboration with TiE Colombo, is a newly introduced four-week immersive program to help students after A/Ls explore strengths, career paths and gain mentorship and industry exposure; applications are open with limited places.

People's Bank marked its 65th anniversary on 1 July and reports consolidated assets of over Rs. 3.7 t. The bank serves 15.2m customers (4m digital users), operates 745 branches and 300+ SBUs, opened a new head office and pledged Rs.300m to the Rebuilding Sri Lanka Fund.

Marlon Ferreira, founder of Exterminators PLC, has been named a finalist in the 2026 Great British Entrepreneur Awards' Global Entrepreneur of the Year category. Ferreira, who also founded Sentario UK, has developed AI-powered pest-management platforms including MACCP X and PACCP X.

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.

The government will phase out para-tariffs starting in 2028 — removing 50% of the cess for most products in 2028, a further 25% in 2029 and fully by 2030, while 107 HS codes follow a slower 25%/25%/50% timetable. Customs reforms also include a simplified four-band tariff (0/10/20/30%), greater digitalisation and new non-intrusive scanners to speed clearance.

UNP MP Ravi Karunanayake urged Parliament's Committee on Public Finance to summon Central Bank officials, Customs and the chief compliance officers of 13 banks to probe an alleged ~$1bn foreign-exchange fraud involving phantom imports and possible crypto-enabled capital flight.

Port of Colombo handled 3,702,265 TEUs in the first five months of 2026, a 13.5% YoY increase; vessel arrivals rose 4.7% to 1,726 and transshipment throughput increased 14.0%, supported by infrastructure, digitalisation and capacity investments.

Vallibel Finance (VFIN.N0000) reported FY2025/26 PBT of Rs.7.6bn, up 37.5%, with total assets rising to Rs.180.2bn (61.4% growth) and NPLs falling to 2.53%; the company also cited 70% portfolio growth and ongoing digital transformation initiatives.

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.

Emirates won Best Airline Worldwide at the 2026 Business Traveller Middle East Awards (its 13th consecutive win) and also took Best First Class and Best Airport Lounge.

Parenthood Global held the Mom Leaders Conference on 21 May 2026 at Cinnamon Life, recognising Top 10 Most Outstanding Mom-Inclusive Workplaces including Ceylon Tobacco Company, Hemas Holdings, DFCC Bank and National Development Bank; sponsors included Maharaja Foods and others.

Akurugraphy, an exhibition at the Geoffrey Bawa Space in Colombo, presents Mooniak’s decade-long practice on digitising Sinhala, Tamil and Latin letterforms and runs until 8 November 2026; it includes typographic specimens, software work, monthly talks, workshops and accessible facilities.

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.

University of Sri Jayewardenepura and Port City Colombo co-authored and published an international case study, 'Port City Colombo: Catalysing Sri Lanka's Emergence as a Global Investment Hub,' via Nova Publishers. The study examines the project's urban planning, economic, regulatory and sustainability dimensions and is intended as a multidisciplinary teaching and policy resource.

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.

SriLankan Airlines was cleared of wrongdoing after investigators found a disputed AED 974,000 payment had been successfully remitted and that a cyber attack altering beneficiary bank details occurred on the Dubai service provider's side.