News & market updates

TiE Colombo will host entrepreneur and growth strategist Gaurav Kumar for a masterclass, “Building a Winning Global GTM,” on 17 July 2026 in Colombo focusing on global go-to-market strategies and modern customer acquisition. The event is supported by HNB and Jetwing Hotels.

Commercial Bank of Ceylon launched 'ComBank GIG+', a specialised account for freelancers and digital earners to receive foreign currency earnings (including PayPal-linked withdrawals) in USD, EUR, GBP, AUD or LKR. The product includes first-year fee waivers and preferential FX rates to support access to credit and other services.

A seminar on recent mid-year tax reforms will be held on 24 June 2026 at Cinnamon Lakeside, covering increases to CGT, criminalisation of tax offences, new income tax calculations, expanded CGIR powers, digital VAT and lower VAT/SSCL thresholds. It is targeted at hotel management, banking/finance compliance and tax professionals.

People’s Bank opened two new 24/7 ATMs at Jaffna Teaching Hospital and the Urban Development Authority premises in Jaffna, providing round-the-clock cash withdrawal access.

People’s Bank opened a new Service Centre in Kotawila offering digital banking services, including an ATM that provides cash withdrawals 24/7/365.

Global GIS (Pvt) Ltd signed a Memorandum of Understanding with the University of Ruhuna to collaborate on R&D, product commercialization, consulting, training and to install a GNSS CORS station at the university. The agreement also includes funding support, internships and technology transfer to boost surveying and geospatial capacity.

Hatton National Bank (HNB.N0000) marked five years of using Nucleus Software’s FinnAxia platform, adopted in 2021 to modernize its corporate transaction banking; the platform now supports LankaPay rails and multiple corporate payment services and averages over 3,000 daily users.

SpaceX vaulted past a $2 trillion market valuation after its Nasdaq debut, with shares jumping 23% to $166. The $75 billion IPO — the world's largest — may be fast-tracked into the Nasdaq 100 and could trigger portfolio reshuffling among tech funds.

Sri Lanka will launch the National Export Development Plan (NEDP) 2026–2030 targeting $36 billion in export revenue by 2030, developed by the Export Development Board with ADB technical assistance. The plan sets horizontal enablers (trade facilitation, trade finance, supply chain, ESG) and eight priority verticals including electronics, digital services, processed foods, auto components, rubber, minerals, marine and spices.

Sri Lanka will launch the National Export Development Plan 2026–2030 on 16 June, aiming to lift export revenues to $36 billion by 2030. The EDB, with ADB support, outlines two pillars and eight priority sectors including Auto Components, Minerals, Rubber, Marine, Spices, Digital Products, Electrical & Electronic Components, and Processed Food.

Fitch revised its 2026 global sovereign sector outlook to 'deteriorating' from 'neutral', citing spillovers from the US‑Iran war that will weaken GDP, raise inflation and push up bond yields. Fitch said Greater China is the only region upgraded to 'neutral' due to strong exports and lower energy exposure.

Citizens Development Business Finance PLC (CDB) reported FY2025/26 Profit After Tax of Rs. 4.5 billion and total assets of Rs. 214.7 billion, surpassing the Rs. 200 billion milestone. Lending rose 53% to Rs. 169.2 billion, NPL ratio improved to 1.53%, the Board declared a Rs. 1.25 billion dividend and completed a one-for-ten share subdivision.

Labour Minister Dr. Anil Jayantha Fernando urged viewing AI as a productivity tool at the ILO conference, noting about 22.8% of Sri Lanka’s workforce is exposed to generative AI. He also announced ratification of ILO Convention No. 190 and a government roadmap to expand the digital economy and skills.

SAARC CCI President Chandi Raj Dhakal met Yunnan Governor Wang Yubo in Kunming to push for expanded trade, investment and connectivity between South Asia and Yunnan, highlighting opportunities in infrastructure, tourism, logistics, digital industries, renewable energy, agriculture and manufacturing.

Short Circuit has acquired digital payments platform Payable and will invest $2.5m to scale its payment capabilities. Payable aims to grow its merchant network by 100,000 over four years and roll out solutions like Soundbox and SoftPOS to expand digital payment acceptance in Sri Lanka.

Port City Colombo forum in Dubai convened about 200 senior UAE business and diplomatic leaders to position Port City Colombo as a gateway for UAE firms expanding into South Asia. Speakers highlighted the project's investor protections, tax incentives and governance framework and noted new strategic partner appointments to deepen Gulf investment ties.

Deloitte Sri Lanka held a 27 May 2026 client session urging climate disclosure as a driver of business resilience and access to capital. Speakers covered operationalising SLFRS S1/S2, climate risk and scenario analysis, decarbonisation, assurance-ready data and sustainable finance.

HighVoltagePR, marking its 10th anniversary, has entered a strategic partnership with Ncatalysts to integrate traditional PR and reputation management with digital performance marketing and digital product capabilities. The collaboration aims to offer combined PR, digital marketing and customer-experience services to Sri Lankan brands.

SpaceX raised $75 billion in its IPO, pushing Elon Musk's net worth above $1.1 trillion and making him the world's first trillionaire. The article also notes concerns about governance and political fallout, and that Tesla sales weakened in some markets in 2025.

Binance was named to the CeFi category of Fortune's inaugural Crypto 100. The exchange reported $34 trillion in trading volume in 2025 and $145 trillion cumulative all-time volume, and highlighted growth in new product offerings.

Citizens Development Business Finance (CDB.N0000) reported FY2025/26 Profit After Tax of Rs. 4.5 billion and total assets of Rs. 214.7 billion, surpassing the Rs. 200 billion milestone. The board declared a Rs. 1.25 billion dividend, completed a one-for-ten share subdivision, saw lending rise 53% to Rs. 169.2 billion and NPLs fall to 1.53%.

Sri Lanka will launch the National Export Development Plan 2026–2030 in Colombo on 16 June 2026, targeting USD 36 billion in export revenues by 2030. The plan sets two pillars (Horizontals and Verticals) and names eight priority sectors including Digital Products, Electrical & Electronic Components, Auto Components, Rubber, Minerals, Marine, Spices, and Processed Food & Beverages.

The India–Sri Lanka Binational Bridge and Tunnel proposal — a ~23 km link estimated to cost US$3.6–5.19bn — could lift tourism by 50–70% and cut some transport costs by up to 50%, reshaping trade, logistics and connectivity. Sri Lanka has paused advancement over technical, environmental and sovereignty concerns.

Commercial Bank of Ceylon (COMB.N0000) launched 'ComBank GIG+' — a specialised account for freelancers and digital earners to receive foreign currency payments (USD, EUR, GBP, AUD). It supports PayPal-linked withdrawals, offers first-year fee waivers and preferential FX rates, and aims to formalise foreign income for access to savings, credit and investment services.

SLT‑Mobitel's mCash integrated GovPay to process real‑time payments for over 4,090 government services (coverage across ~280 government organisations), enabling on‑the‑spot traffic fine payments via the mCash app, USSD #111#, or over‑the‑counter outlets to boost digital payments and financial inclusion.

Short Circuit acquired Sri Lankan digital payments platform Payable and will invest USD 2.5 million to expand its payment solutions and target an additional 100,000 merchants over the next four years.

Emirates was named ‘Best Overall Airline in the Middle East’ at the 2026 APEX Best in Airline Awards, based on over one million passenger ratings across five pillars including seat comfort, cabin service, food & beverage, entertainment and connectivity.

SLIIT was named the Most Loved Brand in the Higher Education (Private) category in the LMD Readers’ Choice Most Loved Brands 2026 ranking. The institute cites a 98% graduate employment rate and highlights initiatives such as launching the country’s first AI degree.

Binance's new stock trading product amassed over US$400 million in assets under management in its first week. About 25% of users were under 25, more than 80% of volume came from emerging markets, nearly 40% of trades were under US$100, and 70% of users held positions.