News & market updates

The BOI will host the 'Invest in Sri Lanka' Forum on 30 March to showcase improving macroeconomic stability and attract global investors to opportunities in renewable energy, tourism, technology and infrastructure.

Institution of Engineers Sri Lanka (IESL) convened a high-level workshop urging creation of a centralised fire safety authority, mandatory inspections and stronger lifecycle regulation after finding fragmented responsibilities and weak enforcement in building fire safety.

Singer’s “Take the Load Off Her Head” campaign won a Bronze Effie in the Home Furnishings & Appliances category via Ogilvy Digital. Ogilvy Group overall secured six metals at the 2025 SLIM Effie Awards for campaigns linked to sustainability and tourism.

Web3Interactive and its Sri Lankan subsidiary Immersive Labs are introducing advanced immersive real-estate visualization and sales technologies (VR/AR walkthroughs) to Sri Lanka to help developers boost buyer confidence and attract overseas investors.

BOI will host the 'Invest in Sri Lanka' Forum on 30 March 2026 at Cinnamon Life to showcase sustainable, technology-driven and high-value investment opportunities. The forum highlights include a 70% renewable electricity target by 2030 and prospects across hospitality, logistics, manufacturing and digital infrastructure.

Sri Lanka will merge the Industrial Development Board, NEDA and the Small Business Development Division into a new Sri Lanka Industrial Transformation and Innovation Authority (SITIA) and is planning 33 industrial zones with 35-year land leases to attract investors.

Government will invest Rs. 46.7 billion from 2025–2028 to expand fuel storage and pipelines, allocating Rs. 31.96 billion for tank construction/refurbishment and funding projects including 24 tanks in Trincomalee (300,000 tons), Jet A1 facilities and pipelines due by 2027–28.

Excello Developers says its integrated developer-and-construction-manager model delivers tighter cost control, consistent quality and more reliable delivery across residential and commercial projects. The five-year-old firm also highlights sustainability features (solar-ready, water-efficient systems) and investment in AI-driven project management.

The Sri Lanka High Commission in Canberra and China Harbour Engineering Company/Port City Colombo held an investor forum on 3 March 2026 to promote investment opportunities and the regulatory framework of the Colombo Port City special economic zone to Australian investors.

JAT Holdings PLC completed the second-phase expansion of its binder plant, increasing production capacity by 76% and bringing the facility into full operation. The upgrade is intended to support growth in emulsions and coatings, reduce import reliance, and improve cost predictability and FX exposure.

Web3Interactive and Sri Lanka-based Immersive Labs are introducing advanced VR/AR real-estate visualization and immersive sales technology in Sri Lanka to improve buyer walkthroughs and help developers attract foreign and diaspora investors.

Tokyo Cement Company (Lanka) PLC honoured 135 top dealers at its 2026 Annual Dealer Convention, awarding City Hardware & Stores–Jaffna the Best Dealer 2026 Grand Award. Company leaders praised dealer partnerships and reaffirmed commitment to support retail partners amid recent business disruptions.

Innox Holdings won the Excellence Award for Innovation at Architect 2026 for its uniquely designed, interactive stall. The company, an exclusive distributor for several global glass brands, says it plans to expand across Sri Lanka and into the Maldives and Seychelles.

The ASPI rose 0.60% (134.03 pts) to 22,577.41 on bargain hunting after a prior session plunge, with turnover ~Rs.4.7bn and foreign net outflow of Rs.95.1m. Capital goods led turnover (Rs.1.5bn) while banking and diversified financials also drove gains.

Ainsley J. Alles, deputy chairman of Senaratne Insurance Brokers Ltd, launched his book "Insurance Mastery" and emphasised the importance of disciplined underwriting and professional training. He highlighted emerging exposures such as renewable energy and cyber risk and warned that aggressive growth without underwriting discipline undermines long-term resilience.

The Sri Lankan Embassy and BELGOLUX–Sri Lanka Business Council held a business evening in Brussels on 24 Feb 2026 with over 55 Belgian participants to promote trade and investment, highlighting opportunities in ports, logistics and tourism. A BELGOLUX business delegation to Sri Lanka is scheduled for 17–21 June 2026 including a forum, B2B meetings, Expo participation and a Colombo Port City visit.

Japan and the United States are working to include a Westinghouse-linked nuclear power project in the second round of deals under Japan’s $550 billion investment package. The project aims to bolster energy supply chains amid Middle East tensions and rising demand from AI data centres.

Hambantota International Port commissioned a new six-hectare RoRo yard (Stage I of Phase II), increasing vehicle parking to 4,500 units per terminal to speed vessel turnarounds. HIP handled 726,153 vehicles in 2025, is targeting ~1 million annual RoRo capacity, and has Stage II due in Q2 with two new NYK services announced.

First Capital Research says March 2026 Iran conflict risks could push Brent to $95–110/bbl and raise Sri Lanka's inflation, external deficits and market volatility, complicating monetary policy. It notes shipping diversions may boost Colombo's transshipment role and that equity corrections could offer selective entry points.

Sierra Cables PLC posted nine-month revenue of Rs. 12 billion (up 68% y/y) and profit for the period of Rs. 2.1 billion (up 105%), with EPS rising to Rs. 3.88. The company, now a 2025 subsidiary of Browns Investments, expanded exports, earned UL 44 certification and retained a Fitch A+ (lka) rating.

Seylan Bank PLC fully disbursed Rs. 1.2 billion under the government Seylan Atha Hitha MSME loan programme in 2025 and has received a Rs. 1 billion allocation for the first tranche of 2026. Loans of up to Rs. 25 million are offered at a concessional 5% p.a., with tenors up to 10 years and an 80% credit guarantee for eligible women-led enterprises.

LankaPropertyWeb launched Apartment Finder, a project-centric apartment search tool that lets users filter by home loan repayment and offers map, table and list views plus smart inquiry features to streamline apartment discovery.

Foxygen launched Ozone’s architectural hardware in Sri Lanka as the exclusive distributor at the Architects Exhibition. The partnership brings Ozone’s range (glass hardware, railing systems, automatic doors, fittings, locks, digital safes) to local builders and includes technical training and specification support.

AmCham Sri Lanka CEO Forum 2026 convened 200+ leaders calling for reforms to restore economic confidence, targeting 7% annual growth and a 70% renewable-energy share by 2030. Panels highlighted SME support measures (Rs.300m, 'Level Up'), banking consolidation, infrastructure/port upgrades and FDI-attracting reforms.

Hayleys PLC’s proposed unsecured senior redeemable debentures of up to LKR7 billion were assigned a 'AAA(lka)' National Long-Term Rating by Fitch. Fitch noted subsidiary debt to consolidated EBITDA rose to 2.9x in 3QFY26, expects it to moderate to ~2.5x by FY27 and said failure could lower the debentures one notch.

Treasury Secretary Harshana Suriyapperuma said Sri Lanka achieved about 75% of its 2025 capital expenditure and is prioritizing project readiness and feasibility studies to ensure multi-year returns. He contrasted this with past low-return 'white elephant' projects that boosted GDP short-term without lasting benefits.

Geoffrey Bawa Trust will support the restoration of the Seema Malaka at Colombo's Gangaramaya Temple, aiming to restore Bawa's original design. The Trust is working with Venerable Dr. Kirinde Assaji Thero and Channa Daswatte will undertake renovation of a later extension.

Seylan Bank PLC fully disbursed LKR 1.2 billion across 90 loans under the government-funded 'Atha Hitha' MSME programme in 2025 and has been allocated LKR 1 billion for the first tranche of 2026. Loans are available up to LKR 25 million at a concessionary 5% p.a., with tenors up to 10 years and an 80% credit guarantee for eligible women-led businesses.

High Commissioner M. Rizvi Hassen said Sri Lanka will work to restore and deepen engagement with the Maldives, citing Bank of Ceylon’s 44-year presence and a goal to return to pre-2019 levels of 20,000–30,000 Maldivian visitors/residents. He highlighted opportunities across tourism, financial services, construction, agriculture and healthcare.

Home Lands secured a 3+ acre Port City Colombo land parcel in a $40.1m deal to build a $300m mixed-use project of twin 40-storey towers with over 600 units.