News & market updates

JAAF welcomed the 2026 Budget’s emphasis on export-led growth, digitalisation, trade facilitation and enhanced capital allowances, but urged clarity, consistent implementation and policy continuity to ensure these measures translate into tangible benefits for the apparel export sector.

Sri Lanka will offer subsidized land, electricity, green energy and financial concessions to attract AI data centre investors, and has earmarked 500 million rupees for this in 2026.

Resus Energy (HPWR.N0000) will seek shareholder approval to split each ordinary share into five, increasing shares from 86,184,827 to 430,924,135; stated capital remains Rs 967,483,260 and the subdivision is pending regulatory approval. The stock was trading up Rs 4.80 at Rs 50.80.

Government aims to enact a Public–Private Partnership (PPP) Act by January 2026, with the final draft with the Attorney General and Cabinet approval expected shortly. A Screening and Scoring Tool for PPP projects is expected by end-Q1 2026 and an Investment Protection Act is being drafted aiming for Q1 enactment.

David Pieris Motor Company (DPMC) won the Merit Award of the Ian Dias Abeysinghe Memorial JASTECA CSR / Sustainability Award 2025 for its sustainability initiatives, including rooftop solar generation, the in‑house eDrive EV conversion project (including for differently abled), rainwater harvesting and community programmes.

Sri Lanka and Bangladesh agreed to deepen cooperation on maritime connectivity, trade and green tourism, including a proposal for direct port connectivity between Colombo and Chattogram to cut shipping costs. They also advanced talks on investment in infrastructure, EPZs/SEZs, ICT/tech corridor, pharma registration and renewable energy collaboration.

Chinese President Xi Jinping set out a three‑point Asia‑Pacific vision at APEC prioritizing digital/smart development, green low‑carbon transition, and inclusive growth to boost innovation, climate resilience and cooperation across the region.

Cabinet approved securing a $30 million IFC loan to finance the Secure, Bearable and Sustainable Energy Project, with funding to be channelled to the Ceylon Electricity Board or its affiliates to support power system reliability, affordability and sustainability.

Hayleys Solar won the SLIM Digis 2.5 Best Use of Digital in a Marketing Campaign award (Energy & Utilities) for its “Energy Peramuna” campaign, which generated over 1.2 million organic social media engagements in four days.

Robert Bosch Lanka (Pvt) Ltd marked 10 years of operations in Sri Lanka, showcasing its technologies across Mobility, Industrial Technology, Consumer Goods and Energy & Building Technology and reiterating its commitment to innovation, talent development and sustainable solutions.

HNB PLC has joined The Management Club as Principal Sponsor and Official Banking Partner of the Northern Investment Summit 2026 in Jaffna. HNB said savings in the Northern Province total about Rs.130 billion and its lending portfolio about Rs.60 billion, with strong repayment performance.

99x's Yantra Labs developed embedded IoT solutions including edge-based computer-vision fire detection and a Solar Shading Analyser that models shading to optimise solar panel layouts, aiming to recover 10–30% energy loss from shading.

HNB PLC has joined The Management Club as Principal Sponsor and Official Banking Partner of the Northern Investment Summit 2026 in Jaffna, reporting roughly Rs.130 billion in deposits and about Rs.60 billion in loans in the Northern Province. The bank said repayment performance there is strong and it will work with government and investors to boost regional investment and launch the Northern Investment Opportunities Report.

Sri Lanka is developing 67 public–private partnership projects across sectors including power, ports, urban development and transport. A PPP law is with the legal draftsman and will be sent to parliament after Attorney General approval.

Tata Power Renewable Energy MD & CEO Sanjay Banga told a Colombo forum that well-designed public–private partnerships have transformed India's power sector and could guide Sri Lanka as it finalises its PPP framework. He cited regulated transmission returns of about 13% and reforms in Odisha and Delhi as examples where PPP contracts and government support improved efficiency and financial performance.

Voyage Sri Lanka 2025, organised by the Sri Lanka Export Development Board, concluded on 16 Oct at The Kingsbury with over 250 delegates, showcasing blue-economy opportunities in shipbuilding, offshore energy, boat building and nautical tourism and involving sponsors including Hayleys, Seylan Bank and Lanka IOC.

Cabinet approved only three wind projects on Mannar island and said those three, including Hayleys Fentons' 50 MW project (planned Dec 2026), may proceed; no further wind projects will be implemented without local consent.

The Northern Investment Summit 2026 will be held 21–22 Jan in Jaffna to attract investment into the Northern Province, backed by government, India mentorship and private partners; Hatton National Bank is partnering to provide finance and support capital access.

Evolution Auto opened a flagship multi-brand electric vehicle showroom in Bambalapitiya on 25 October, showcasing brands Avatr, IM Motors, Xpeng and Riddara and offering demonstrations, test drives and customer consultations.

The Sri Lanka–Thailand Business Council elected Rizan Nazeer as President and pledged to expand trade and cooperation, highlighting the Feb 2024 FTA that removes tariffs on about 85% of goods and aims to raise bilateral trade from roughly US$350m to over US$1bn. The Council plans to boost private-sector engagement, joint ventures and SME access across agriculture/food processing, health and wellness, tourism, renewable energy and technology.

DFCC Bank PLC's proposed LKR3 billion listed blue bonds received a final National Long-Term rating of 'A(lka)' from Fitch. The bonds, maturing in three to five years, will fund eligible blue projects supporting marine and coastal resilience.

Fifty-two SOEs posted aggregate profit of Rs. 227.8 billion in 1H 2025, down from Rs. 280.7 billion a year earlier. The drop was driven by a Rs. 13.2 billion net loss at the Ceylon Electricity Board after tariff cuts, despite stronger profits at state banks and Cabinet-approved SOE reforms.

Siyapatha Finance, the fully owned subsidiary of Sampath Bank, opened its 58th branch in Mannar to expand its presence in the Northern Province. The branch will offer leasing, fixed deposits, gold financing, business and personal loans, factoring and Smart Pay bill payment.

LTL Holdings Ltd issued a Right of Reply to COPE, disputing findings of ownership dilution and audit concerns. It says audits were conducted by shareholder-appointed auditors, ownership changes were driven by CEB decisions, and its projects (including renewables) follow the CEB LTGEP and competitive bidding.

Energy Minister Kumara Jayakody warned that lobbying for higher feed-in tariffs would raise consumer bills, noting solar prices paid to new producers have fallen from 37 → 27 → 24 → 18 rupees. He cited 30% cheaper panels, a stronger rupee, competitive low bids (e.g. Vidullanka ~3.77 USc/kWh) and additional grid/BESS costs.

India and Sri Lanka held a virtual meeting on the power grid interconnection to discuss implementation modalities and technical coordination, advancing the transnational transmission project. The link would let Sri Lanka import during shortages and export surplus renewable power to India, earning foreign exchange and boosting grid stability.

Eurus Power Solutions was appointed the exclusive Sri Lanka partner of Beijing Sifang Automation to represent and distribute Sifang’s power automation products. The partnership aims to introduce advanced power automation to support IPPs, energy trading and modernization of Sri Lanka’s power infrastructure.

LIIN estimates Sri Lanka faces a $7–10bn annual investment gap to meet SDGs and is launching a $5m Impact Enterprise Fund (mid-2026) targeting SMEs with $50k–$100k investments and a first-loss guarantee covering up to 20% of defaults.

David Pieris Automobiles has partnered with GWM to introduce hybrid and electric vehicles to Sri Lanka, launching models including the Haval H6 (HEV Rs 17.995m / PHEV Rs 20.995m), Haval GT PHEV (Rs 24.995m), Tank 300 HEV (Rs 35.995m), Tank 500 HEV (Rs 43.5m) and the fully electric ORA.

Voyage Sri Lanka 2025, organised by the Export Development Board on 16 Oct at the Kingsbury, drew over 250 delegates from about six countries and highlighted blue-economy opportunities across shipbuilding, offshore energy (LNG, wind), fisheries and nautical tourism. Sponsors and participants included Seylan Bank, Lanka IOC and Hayleys Advantis.