News & market updates

Allianz launched the first tranche of its €200,000 Sri Lanka commitment for Ditwah cyclone recovery, distributing 4,315 education packs and ECD supplies in Anuradhapura, Polonnaruwa and Puttalam to help restore schooling and support child well-being.

The Body Shop Sri Lanka launched a Mid-Season Sale offering up to 50% off select skincare, bodycare, haircare, makeup and fragrance items until 31 July 2026. The promotion runs across all outlets including the brand’s shop at Odel Alexandra Place and online.

The Ceylon Chamber of Commerce convened stakeholders to map priorities to accelerate Sri Lanka's renewable energy transition, prioritising solar expansion, net‑metering, procurement frameworks, financing and energy storage. Participants called for stable policy, streamlined approvals, grid upgrades and better access to finance to boost investment and delivery.

Hatton National Bank (HNB.N0000) was named Sri Lanka's Best Bank for Large Corporates at the Euromoney Awards for Excellence 2026, its second time winning the title. The bank cited involvement in a USD 1bn sustainability-linked syndication, LKR 44.5bn financing for a 350MW power project and investments in digital and transaction banking.

Sweden's ambassador reaffirmed plans to bring a Swedish trade delegation to Sri Lanka Expo 2027 (14–17 Jan 2027) to connect Swedish buyers with Sri Lankan exporters, highlighting opportunities in cinnamon, coconut products, gems & jewellery, apparel and ICT.

First Capital Holdings PLC (CFVF) and Hatch launched the 2026 First Capital Startup Nation regional edition, offering startups access to up to USD 1 million in funding and expanding the programme across South Asia.

The Lanka India Business Association will host the 'India Calling' forum on Aug 6 at the Taj Samudra, Colombo to bridge commercial gaps and unlock bilateral trade and investment corridors with India. Speakers including Montek Singh Ahluwalia and C. Raja Mohan will address regulatory friction, consumer behaviour and practical ways to reduce trade barriers.

The Inland Revenue Department said prosecutions under the Inland Revenue (Amendment) Act No. 11 of 2026 (effective 3 June) will be a last resort, with taxpayers given a mandatory 30-day notice and penalties up to Rs. 400,000 and/or six months' imprisonment for deliberate evasion.

WSO2 founder Sanjiva Weerawarana urged Sri Lankan and South Asian tech entrepreneurs to build globally competitive product companies from the region and retain ownership of their IP, saying AI lowers barriers and India–Sri Lanka collaboration can unlock opportunities.

People's Bank joins the 2nd Data Privacy and Protection Summit 2026 as Exclusive Banking Partner, committing to strengthen data protection and prepare for Sri Lanka's PDPA across its operations.

Chinese President Xi Jinping set out China's vision for global AI governance at the 2026 World AI Conference, pledging 5,000 AI training opportunities and to enable 30 countries to use the MAZU meteorological warning system over the next five years. He emphasized openness, safety, multilateral cooperation and proposed a World Artificial Intelligence Cooperation Organization.

HNB PLC was named Sri Lanka's Best Bank for Large Corporates at the Euromoney Awards for Excellence 2026, the second time it has won the title. The award highlighted HNB's role in landmark deals during the review period, including participation in a $1bn sustainability-linked syndicated financing and arranging Rs.44.5bn for the 350MW Sobadhanavi power project.

The Exporters Association of Sri Lanka elected Nalaka Ratnayake as Chairperson at its 29th AGM; the new Executive Committee includes representatives from CIC Holdings, Hayleys, Dipped Products, Hatton National Bank, Sampath Bank and Lion Brewery. Speakers urged faster trade digitalisation, lower export costs and improved logistics to boost competitiveness.

Overseas Realty (Ceylon) PLC signed a lease for the Embassy of France to relocate its Colombo offices to Mireka Tower, the company's Grade A office development in Colombo.

The Sri Lanka Institute of Directors will host the Sri Lanka Corporate Director Summit 2026 on 22 July at Cinnamon Grand Colombo focused on governance, reputation and sustainable leadership. Keynote speaker Vivek Sharma will discuss reputation risk and panels include Nestlé Lanka's MD and Commercial Bank of Ceylon Chairman Sharhan Muhseen.

CA Sri Lanka and the Bar Association of Sri Lanka signed an MoU on 17 July to strengthen collaboration between the accounting and legal professions, including joint continuing professional development, knowledge-sharing forums and capacity-building initiatives.

CMA Sri Lanka will host the National Management Accounting Conference 2026 on 20–21 July at Cinnamon Life, Colombo; Prime Minister Dr. Harini Amarasuriya will be Chief Guest and Prof. Dale Pinto will deliver the keynote. The event will focus on management accounting's role in crisis management, stability and growth.

Odel founder Otara Gunewardene will be a keynote speaker at the BNI Sri Lanka National Conference on 24 July at Cinnamon Lakeside Colombo. The event will also feature Zoho director Rajendran Dandapani and aims to connect SMEs through networking and leadership sessions.

The Sri Lanka-USA Business Council will host 'The IP Trade Corridor' breakfast forum on 22 July 2026 in Colombo to discuss strengthening the US–Sri Lanka economic partnership through intellectual property protection for exporters, manufacturers and IT/creative firms.

Renuka City Hotel PLC appointed Aendra Bandaranaike to its Board as an Independent Non-Executive Director.

Asiri Surgical Hospital (AMSL.N0000) performed Sri Lanka's first robot-assisted surgery on 13 July 2026. The hospital says the robotic platform enables greater precision, smaller incisions and quicker recovery, bringing advanced surgical capability to patients locally.

The Association of Human Resource Professionals (AHRP) celebrated its Silver Jubilee, urging government–industry–education collaboration to build an AI- and skills-driven workforce; LinkedIn said 68% of Sri Lankan professionals expect to seek new jobs in 2026 and talent outflow fell 45% (55,358→24,887).

Prime Lands Residencies PLC won the Silver Award for Best Use of Account-Based Marketing at the Hashtag Asia Awards 2026. The award recognises its "Prime 365: Always-On. Always Ahead." campaign and highlights the company's digital marketing leadership in Sri Lankan real estate.

Foreign investors bought a net US$23.2mn of Sri Lankan rupee government bonds in the week to July 16, lifting foreign holdings to Rs 176,561mn — the highest since July 27, 2023. The inflow comes amid a 100bp May policy-rate hike and recent rupee stabilization.

Dambulla Sixers will launch a nationwide cancer awareness campaign as LPL 2026 opens, beginning with a visit to children at Suwa Arana on 17 July and culminating in a Pink Match on 19 July to promote breast cancer early detection and raise funds for the Indira Cancer Trust.

India has amended its tax treaty with Sri Lanka to include a Principal Purpose Test (PPT), with the protocol notified June 19 and applying in India to income derived from April 1, 2027. The PPT empowers tax authorities to deny treaty benefits where arrangements are designed primarily to obtain tax advantages rather than genuine commercial substance.

Samsung Electronics America will reduce its workforce by 739 jobs in Englewood Cliffs, New Jersey, per a WARN notice, as the unit prepares to relocate its U.S. headquarters to Texas by year-end; the company says most affected employees were offered relocation.

Sri Lanka launched the "Buddha Wandana" Buddhist Trail tour package on 16 July to attract pilgrims from Viet Nam ahead of direct flights starting 18 August 2026. The government-backed initiative aims to boost rural tourism, support local SMEs and deepen cultural tourism links with Viet Nam.

The Exporters Association of Sri Lanka urged the government to adopt a transparent, risk-based approach and publish operational guidelines before enforcing new import rules banning goods linked to forced labour, warning unclear procedures could disrupt trade and raise compliance costs.

KPMG says Sri Lanka's credit rebound faces a major test after the Central Bank raised the policy rate by 100 basis points to 8.75%, a move expected to moderate private-sector credit growth. Lower fuel and vehicle imports, resilient remittances and stronger tax revenue are seen supporting a return to a current-account surplus and fiscal consolidation.