News & market updates

Charcoal Tandoor Fire Grill (Soho Hospitality) will open its Sri Lanka debut on the 50th floor of Capitol TwinPeaks in Colombo, co-owned by Bathiya Jayakody, Santhush Weeraman and Mevan Gunatilleke. The celebrity-backed standalone venue targets a premium dining destination outside hotel settings.

Shangri-La Hambantota hosted 27 golfers from Belarus for an international golf tour from 18–23 March 2026, culminating in a tournament on 22 March; the event, attended by Deputy Minister Prof. Ruwan Ranasinghe, is intended to strengthen Sri Lanka's position as a golf tourism destination.

Vallibel One PLC's travel arm Delair Travels has rebranded as Delmege Travels to align the business with the Delmege Group; the company says services, operations and personnel will continue unchanged while benefiting from stronger brand synergy.

CDP Group is expanding its business portfolio into tourism, finance, insurance and retail supermarket operations as it builds a diversified group focused on sustainable growth, employee development and customer trust.

Sri Lanka's ASPI rose 3.38% to 21,784.11 and the S&P SL20 climbed 3.63% to 6,123.82; market turnover was Rs.2.3bn. Top contributors included Hatton National Bank, Commercial Bank, John Keells, Melstacorp and Dialog, while food, beverage & tobacco led turnover (Rs.834m).

Asia Capital PLC settled a Rs. 790.75m liability by transferring River House Ltd shares and raised its stake in Asia Leisure Holdings to 99.98% after acquiring shares for Rs. 201.5m; it also agreed to buy 22.13% of Wadduwa Resorts for Rs. 75m, completion due Sept 2026.

Sarrah Sammoon was appointed IMC Field Officer for Sri Lanka by the Investment Migration Council in December 2025 to help align the country's investor visa and residency processes with global investment-migration standards as policy reforms are considered.

ADB announced a financial support package to help its developing member countries mitigate economic and financial impacts from the Middle East conflict, including fast-disbursing budget support and reactivated trade and supply-chain finance for oil imports. The bank will mobilize countercyclical lending and TSCFP support to address energy price volatility, supply disruptions, inflationary pressures and risks to tourism and trade.

Sri Lanka and Brazil agreed to elevate bilateral trade to USD 1 billion by 2030. They also committed to finalise pending MoUs (including on traditional/Ayurvedic medicine), and to sign Dairy Livestock and Sugarcane technical cooperation projects while exploring cooperation in agriculture, ports and tourism.

Asian currencies weakened as the South Korean won fell to a 17-year low, closing at 1,517.3 per USD amid volatility from the Middle East crisis. Other regional currencies including the rupiah, rupee, peso and baht also saw pressure, with some central bank intervention stabilising markets.

Focus Reliance Holdings won Best Microfinance Provider at the Global Business Excellence Awards 2025 and the Microfinance Leader Award at the People’s Excellency Awards 2024 for its microfinance services. The private firm offers diverse microfinance products and has expanded into distribution and retail with an FRH supermarket in Pitakotte.

The SLID-KPMG Audit Committee Forum (9 Mar 2026) urged audit committees to oversee ESG reporting under SLFRS S1/S2; panellists from Aitken Spence, MAS, Lion Brewery and DFCC discussed governance, data controls, implementation and sustainable financing.

Sri Lanka recorded 5% GDP growth in 2025, with GDP surpassing $106.8bn; the services sector contributed 54.6% and industries 25.4%, while tourism and construction were cited as significant contributors to the recovery.

Uber and PickMe jointly urged the government to grant higher fuel quotas for their most-engaged drivers and delivery partners, saying the recent quota increase from 21 March remains insufficient to sustain operations. They said enhanced weekly allocations would help maintain essential services, livelihoods and tourism support.

Uber and PickMe jointly urged the Government to allocate higher weekly fuel quotas for their most engaged drivers and couriers, saying the recent regular quota increase from 21 March remains insufficient to sustain operations. They said enhanced allocations would support mobility, deliveries and tourism while platforms will monitor trip volumes to use fuel efficiently.

Port City Colombo is proposed as a strategic South Asian hub aimed at driving construction and infrastructure development and boosting trade, tourism and IT-enabled services in the region.

Russel’s Group of Companies announced its February 2026 Monthly Award recipients, naming five employees recognized for performance and service excellence. Management presented the awards and reaffirmed the group's commitment to employee recognition and operational standards.

Speakers at an OPA seminar warned the Middle East conflict will raise global energy prices, strain fuel supplies (fuel ≈20% of Sri Lanka's import bill), and hit tourism and remittances (≈40% from the Middle East), urging price reforms, renewables, maritime and cyber security upgrades.

Hatton National Bank PLC launched its 'Happiness Cards' campaign, offering cardholders savings of up to 70%, 0% interest installment plans (up to 48 months) and offers across 300+ merchant partners covering shopping, travel, dining and household spending.

Gulf escalation and shipping disruptions have hit Sri Lanka's tourism, tea and apparel sectors, pulling the bourse down 12.7% through March 20; plantation and apparel stocks plunged (Namunukula -30.6%, Agalawatte -22%, Teejay Lanka -20.6%) while Sunshine benefits from higher palm oil prices.

Sri Lanka has held preliminary talks with Emirates and Qatar Airways to position Mattala Rajapaksa International Airport (HRI) as an alternative hub. The government hopes the move could revive tourism hit by Middle East conflict-related flight cancellations, though airline interest is described as preliminary.

IMF says Sri Lanka’s reform programme has made very significant progress: economy grew ~5% in 2025, inflation about 1.6% and reserves are rising with debt restructuring nearly complete. The IMF warned Middle East tensions could hurt trade, remittances and tourism and will send a review mission Mar 26–Apr 9.

Commercial Bank of Ceylon launched its Avurudu card promotion offering up to 70% discounts across 579+ merchant partners and over 4,000 outlets through April 30, 2026. Offers cover clothing, footwear, jewellery, supermarkets, dining, hotels and online retailers.

John Keells is presenting the international West End production La Bamba at The Forum, Cinnamon Life in Colombo this April, produced with the John Keells Foundation and in association with Nations Trust Bank. The run includes seven performances and a 10% early-bird discount for Nations Trust Bank AmEx and Mastercard holders.

Hilton Colombo’s Emperor’s Wok is offering an 'Endless Dim Sum' weekend feast at Rs. 9,888 nett per person, available weekends and Poya Days from 12:00 pm to 2:30 pm. The menu features Cantonese and Szechuan dumplings including Pak Choi, Truffle Oil Crystal, Crystal Prawn and Steamed Lamb dumplings.

Seylan Bank PLC will issue SME loan decisions within three working days for facilities below Rs.25 million. The bank has also joined the government/ADB-backed National Credit Guarantee initiative (guarantees up to 67%, 80% for women-led MSMEs) to boost SME access to finance.

Hatton National Bank PLC (HNB.N0000) opened a new Negombo City branch at 125, St. Joseph’s Street, expanding its island-wide customer network and local service presence.

Cabinet approved amendments allowing arriving passengers to shop twice at the duty-free complex in Colombo Port City within four days while keeping the annual duty-free entitlement at $2,000; the regulations were gazetted (No. 2475/28, 13 Feb 2026) and will be presented to Parliament.

All companies on the Colombo Stock Exchange Main Board must adopt sustainability reporting under SLFRS S1 and S2 effective 1 January 2026. A seminar on ‘Sustainability Reporting for Corporates’ will be held 26 March 2026 at The Kingsbury to brief directors and senior executives.

Weekly T‑Bill auction was undersubscribed, raising Rs.60.79bn (50.66% of Rs.120bn) while weighted average yields held at 7.61% (91d), 7.91% (182d) and 8.23% (364d). Secondary bond yields rose amid the Middle East conflict and high oil prices; net liquidity surplus was Rs.341.21bn and USD/LKR closed at 311.30/311.50.