News & market updates

Dr. Rohantha Athukorala was awarded the 'Rotarian of the Year 2025/26' by Rotary Sri Lanka and Maldives. He is a director of Lotus Hydro Power PLC (HPFL) and has held leadership roles with Sri Lanka Tourism, the Export Development Board and several multinational and tech firms.

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.

The Ceylon Chamber of Commerce re-elected Krishan Balendra as Chairperson and approved its 2026/27 board. The board includes senior executives from John Keells, Hayleys (Hayleys Agriculture), Renuka Hotels and Dialog Axiata, and the Chamber said 18 recommendations were included in Budget 2026 covering trade, digitalisation and infrastructure.

Deputy Minister Arkam Ilyas said Sri Lanka will introduce time-of-use electricity tariffs and roll out smart meters, initially targeting about 300,000–400,000 domestic consumers using over 180 units. Authorities are also evaluating proposals to accommodate home-scale battery storage.

Richard Pieris Finance reported Profit Before Taxes of Rs.701.6 million for the year ended 31 March 2026. Profit after tax was Rs.448.7 million (up 76%), total assets Rs.24.57 billion, customer deposits Rs.11.68 billion, loans Rs.10.84 billion, and Fitch affirmed A(lka) Stable.

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.

ADB approved a $57.4m financing package to support rooftop solar aggregation and virtual net metering in Sri Lanka, backing about 25 MW of rooftop installations and helping two government-owned distribution utilities pool generation and modernize distribution networks.

Parliament’s Committee on Public Finance will prepare a final report on the disappearance of $2.5 million held by the Treasury for sovereign debt repayments after reviewing submissions from the Finance Ministry and the Central Bank; no timeline was given.

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.

The Students Visa won the Navitas UK – New & Emerging Agent Award (Sri Lanka) 2025/26 for its performance and support of Sri Lankan students pursuing higher education in the UK.

Sampath Bank launched a real-time USD payment solution with the Sri Lanka Ports Authority to enable instant dollar payments and real-time settlement for shipping lines, freight forwarders and other port users, streamlining foreign-currency transactions and trade facilitation.

Sampath Bank PLC launched Sri Lanka’s first real-time USD payment solution for Sri Lanka Ports Authority users via its FC Quick Connect platform, enabling instant USD payments with real-time settlement and automated notifications for shipping lines and port users. The solution replaces manual processes and can be scaled to other port operators.

The Sri Lanka Retailers’ Association held its 9th AGM on 23 June 2026 and elected Infiyaz M. Ali (Director, Healthguard Pharmacy Ltd) as President, with Mahesh Wijewardena (Group CEO, Singer (Sri Lanka) PLC) as Senior Vice President and Kumar De Silva (CEO, SPAR SL) as Vice President. The AGM adopted the 2025/26 annual report and previewed the Sri Lanka Retail Forum 2026.

Barista launched Tap Grab Go, a mobile app that enables order-ahead and islandwide pick-up to speed takeaway service. The app integrates with Barista’s Loyalty Crown program and targets takeaway orders, which the company says make up 21% of transactions with a 9.5-minute average wait.

AEO-certified traders record a median cargo release time of ~30 hours versus ~53 hours for non-AEO traders — a facilitation gain of about 22 hours, according to a fully digital 2025 Time Release Study using ASYCUDA. Sri Lanka Customs has introduced CargoFlow to better manage container movements and speed clearance.

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.

Alfred Ramosedi was elected the 93rd President of CIMA and Co‑Chair of the Association of International Certified Professional Accountants and will focus on trust, building an AI-enabled finance and accounting profession, and championing opportunity for the next generation.

Exterminators PLC launched MACCP X, an AI-powered mosquito intelligence platform providing nationwide disease surveillance, environmental monitoring, risk mapping and predictive mosquito management across Sri Lanka. Developed with Sentario UK, the platform is the first phase of an AI-enabled mosquito early warning ecosystem for public health and pest management professionals.

Seylan Bank launched Google Pay for its Mastercard debit and credit cardholders, allowing customers to add cards to Google Wallet and make NFC Tap-and-Go payments locally and internationally. Transactions use tokenisation and one-time authentication to protect card data.

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.

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.

Sri Lanka, led by Trade Minister Wasantha Samarasinghe, participated in the 10th China–South Asia Exposition and 30th Kunming Import Fair (11–16 June 2026), showcasing 100 booths and securing export partnerships including an MoU to promote Sri Lankan beverages in China. Discussions also covered access to Kunming bonded-zone free warehouses to boost supply-chain connectivity.

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.

Seylan Bank PLC has joined the Colombo EV Motor Show 2026 as the event's official banking and leasing partner and will offer tailored EV leasing packages with special interest rates, discounts, fast-track approvals and up to seven-year repayment terms.

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.

Exterminators PLC launched MACCP X™, an AI-powered mosquito intelligence platform delivering nationwide disease surveillance, environmental monitoring, risk mapping and predictive mosquito management across Sri Lanka.

Fintrex Finance PLC reported PAT of LKR 660.6 million for the year ended 31 March 2026, up 259% YoY, with gross income rising 79% to LKR 6.74 billion and total assets up 45% to LKR 31.4 billion.

Seylan Bank launched Google Pay for its Mastercard debit and credit cardholders, enabling customers to add cards to Google Wallet and make secure NFC Tap & Go payments locally and internationally.