News & market updates

SLT-MOBITEL Enterprise signed a reseller partnership with Starlink to offer Starlink’s LEO satellite internet to enterprises and SMEs in Sri Lanka. The service aims to provide high-speed, low-latency connectivity and satellite-based redundancy for remote, disaster-affected, or mission-critical operations.

Kishore Reddy was re-elected president of the Indian CEO Forum at its AGM, where the Forum reaffirmed commitment to deepen India–Sri Lanka economic cooperation and urged upgrading the FTA to boost investment in infrastructure, tourism, IT, logistics and services.

Delmege Consumer has partnered with Daraz to offer its full range of FMCG products for online purchase and islandwide delivery, expanding its digital distribution. The move aims to boost brand visibility and customer convenience through Daraz’s e-commerce platform.

Evolution Auto, the authorized distributor of XPENG and AVATR in Sri Lanka, partnered with the 45 Under 45 CEO Awards 2026 to showcase premium XPENG and AVATR electric vehicles to business leaders, highlighting its focus on advanced electric mobility and innovation.

Fintrex Finance PLC and KayJay Electronics signed an MOU to launch the Fintrex CCTV Loan Facility, enabling customers to finance CCTV security solutions through flexible loans. The partnership aims to make modern security technology more accessible for homes, businesses and institutions in Sri Lanka.

Effectz.AI implemented large-scale AI solutions at Akbar Brothers Group, integrating systems into accounts payable, VAT reconciliation and shipping workflows to improve compliance, cash-flow management and operational accuracy within core business processes.

The Ceylon Chamber will hold the 26th Sri Lanka Economic and Investment Summit on 12–13 October, focused on economic growth, competitiveness, investment and structural reforms. Sessions will cover trade and regional integration, energy security, digital transformation and healthcare.

People’s Bank became the first state-owned bank in Sri Lanka to be awarded ISO 22301:2019 certification for its Business Continuity Management System. The certification was awarded by Bureau Veritas after assessment, with implementation support from MillenniumIT ESP and consultancy from Ernst & Young.

Sampath Bank PLC opened a Colombo Port City branch, marking the first banking transaction within the development and positioning the bank to provide local and foreign currency banking, trade finance, treasury, remittances and digital banking for residents and non-residents.

Stredge rebranded under the slogan 'orchestrating value', shifting focus to deeper integration, tech-enabled digital transformation, expanded finance and ESG offerings, and regional expansion into the UAE and Maldives.

Peterson Solutions Sri Lanka opened a new corporate office at Orion City, Colombo on 5 June 2026. The move reflects local growth—the consultancy, part of Peterson and Control Union Group, says it now serves 170+ Sri Lankan clients and is expanding services in sustainability, crop consultancy and digital solutions.

Celeste has appointed veteran corporate leader Roshanie J Moraes and is transitioning to a strengthened corporate governance structure to scale its lifestyle and quick-commerce business and expand digital offerings.

Opposition Leader Sajith Premadasa urged deeper Sri Lanka–India economic integration to boost trade and investment, highlighting UPI payment integration and proposed energy connectivity. He encouraged entrepreneurs and investors to pursue expansion and adapt to technological change.

The SAPLING policy dialogue to advance South Asia's food processing industry opened in Ahmedabad with ~200 participants and 16 Sri Lankan delegates, including representatives of John Keells Holdings; the event spotlights innovations such as smart cold chains, digital traceability and sustainable packaging.

L B Finance PLC reported a pre-tax profit of Rs. 25.01 billion for the year ended 31 Mar 2026 (up 22%) and PAT of Rs. 13.67 billion (up 27%). The company expanded loans to Rs. 312.66 billion, fully consolidated Associated Motor Finance (AMF) and is nearing regulatory approval for entry into the Philippines.

The Insurance Regulatory Commission of Sri Lanka (IRCSL) visited Hong Kong to strengthen regulatory capabilities and align supervisory practices with global standards through meetings with the Hong Kong Insurance Authority, Hong Kong health and actuarial bodies, and senior AIA Group leadership.

The Central Bank of Sri Lanka said the financial system remained resilient in Q1 2026 despite rising risks, with banking credit up 24.4% YoY and Stage 3 loans down to 9.4%. It imposed a 70% LTV cap on gold loans and cut vehicle LTVs by 10pp from 25 May, noted $103.4m foreign outflows and a 100bp policy-rate hike driving higher yields.

Cabinet approved 77 Businesses of Strategic Importance for the Colombo Port City SEZ, including three Primary BSIs (Prime Melwa, Marina Hotel Holdings, Home Lands); land/development costs are ~Rs125bn (incl. ~US$262m) and Secondary BSIs are projected to bring ~US$364m and ~10,000 jobs over five years.

Fitch cut its 2026 global growth forecast by 0.2pp to 2.4% and raised its 2026 Brent crude assumption to USD87/bbl (from USD70/bbl) due to an oil shock from the US–Iran war. Strong IT-related investment is partly cushioning the hit, while central banks’ policy paths have shifted with rates expected to hold this year and cuts delayed until 2027 in some cases.

Sampath Bank opened its Colombo Port City branch, the first banking transaction in the development, offering self-service CRM, local and foreign currency banking, inward investment accounts, trade finance, treasury, remittances and digital banking services for residents and non-residents.

Sampath Bank PLC opened its Colombo Port City branch, marking the first banking transaction in the development and offering CRM self-service, local/foreign currency accounts, trade finance, treasury, remittances and digital banking for residents and non-residents.

KOKO has joined Mastercard’s 'Tap for Change' campaign to convert contactless Mastercard and KOKO e‑commerce/BNPL transactions into donations for the Karapitiya Trail Cancer Hospital in Sri Lanka. The initiative also seeks to boost contactless payment adoption among digital-native shoppers.

MO Marketplace, a Sri Lankan e-commerce app live since June 2024, combines escrow-protected payments, managed island-wide delivery and a flat 10% commission, and has 45,000 downloads with 14,000 registered users. The platform plans AI listing tools and video-led selling by mid-2026.

The Ceylon Chamber of Commerce will hold the 26th Sri Lanka Economic and Investment Summit on 12–13 October 2026. The Summit will focus on economic growth, investment, trade, fiscal and structural reforms, energy security and sustainability, healthcare, and digital transformation.

The Ceylon Chamber of Commerce will hold the 26th Sri Lanka Economic and Investment Summit on Oct 12-13 to focus on pressing national priorities including economic growth, investment, trade, fiscal and structural reforms, energy security, healthcare and digital transformation.

Mogo Media Academy held its inaugural graduation ceremony on 4 June 2026, with 115 students graduating (73 from Diploma programs in Animation, Game Development, Concept Art and VFX; 42 from a Certificate in Professional Training in Radio Presentation). Many graduates have already secured employment locally and internationally, reflecting the academy's industry-focused training.

Sri Lanka said it will deepen cooperation with France and the EU as AFD marks 20 years in the country, seeking expanded collaboration on sustainable development including green energy, urban and water infrastructure, digital transformation and maritime cooperation.

SDB Bank has modernised its core digital banking infrastructure with IBM Power servers, IBM FlashSystem storage and IBM Cloud Pak for Business Automation to boost agility, operational resilience and enable scaling of AI-driven services.

Commercial Bank of Ceylon PLC opened a full-service branch in Port City Colombo (Building 04, Area 02) to serve corporates, investors, businesses and retail customers. The branch provides corporate and retail banking, trade finance, FX, digital banking and 24/7 self-service (CRM/ATM).

Amana Takaful Life PLC appointed Pradeep Dilshan Rajeeva Hettiaratchi and Dev Nissanka Wijewardane as Independent Non-Executive Directors. Hettiaratchi brings 30+ years in finance and renewable energy experience; Wijewardane brings 20+ years in IT, digital transformation and enterprise governance.