News & market updates

Sri Lanka's Export Development Council of Ministers discussed entering new tariff agreements and other measures to help achieve the government's export target of USD 36 billion by 2030 (from USD 16.17 billion last year). Areas highlighted included gems and jewellery, pharmaceuticals, poultry, tea, spices, electronics, an export hub and Trincomalee Port development.

Government approved 62,314 State sector cadre positions over the past eight months. Recruitment is underway, with Defence allocated 12,433 posts and Media and Health allotted 11,888 positions (including Government Medical Officers), and the move is framed as supporting digitalisation and filling vacancies.

EDOTCO Sri Lanka launched a public–private environmental tech pilot at Galle Fort, installing an advanced air pollution sensor on a smart multipurpose lamp pole to provide real-time air quality data for public health, climate resilience and urban planning.

The Ministry of Digital Economy and SLT-MOBITEL will host Sri Lanka's first National AI Expo & Conference on Sept 29–30, 2025 to drive AI adoption across industries, supporting a digital economy growth target from US$3.5bn (2025) to US$15bn by 2030 with AI contributing 10–12%.

The Sri Lankan government approved 62,314 state sector jobs in the last eight months, Cabinet Spokesman Nalinda Jayatissa said. Approvals include 12,433 posts for the Defence Ministry and 11,888 roles for Media and Health, including government medical officers.

Dipped Products PLC (DIPD.N0000) won the Overall Gold Award at the National Business Excellence Awards 2025 and received five additional honours recognising export resilience, ESG and manufacturing excellence. The company, a Hayleys Group member entering its 50th year, also highlights Hayleys PLC's group performance.

Grand Leisure Care and Wellness Resort opened in Negombo as Sri Lanka’s first luxury wellness resort for seniors, offering full-board packages from Rs.95,000/month and up to 40% discount for new residents. The facility provides luxury and shared accommodation, 24/7 medical support, dedicated nursing beds and wellness services.

The EDB held a strategic meeting with 15 newly appointed diplomatic representatives to strengthen Sri Lanka's export capabilities and market penetration across Asia, Europe, Africa, the Middle East and the Americas. Appointments cover ambassadors, high commissioners and consuls in major economic centers to boost exports of tea, textiles, spices, IT services, pharmaceuticals and value-added manufacturing.

Tilak Gunawardena, MAC Holdings' Director of Finance and Group CFO, was appointed President of the Sri Lanka–USA Business Council for 2025/26. He said he will work to strengthen bilateral trade, address potential new U.S. tariffs on Sri Lankan exports, and promote IT/digital, renewable energy and health-tech links.

Dipped Products (DIPD.N0000) won the Overall Gold Award at the National Business Excellence Awards 2025, also securing five further honours including awards for ESG and corporate governance. The Hayleys Group parent (HAYL.N0000) is highlighted as DPL continues export-focused, sustainable manufacturing and capacity upgrades.

Hemas Holdings (HHL.N0000) reported volume growth and higher profits in its consumer goods division in the June quarter, with operating profit of Rs 719.1m and sector earnings up 13.6% to Rs 665.6m despite consumer goods revenues falling 2.6% to Rs 8.68bn. Group profit rose to Rs 1,191m and healthcare revenues increased, and the company launched a new Gold Hair Wax product.

Hemas Holdings PLC (HHL.N0000) posted 1Q FY2026 revenue of Rs.28.5 billion, operating profit of Rs.2.1 billion (up 6.9%) and earnings of Rs.1.2 billion (up 26.1%). Management cited stronger topline, margin expansion and lower finance costs, and noted a Gazette introducing medicine price caps that may affect pharma selling prices.

Sanasa General Insurance (SGIC) renewed its strategic MOU with the Government Medical Officers’ Association (GMOA) for a third consecutive year, continuing to offer GMOA members exclusive discounted motor insurance packages with extended and accident cover and value-added benefits.

Hemas Group reported Q1 FY25/26 earnings of Rs. 1.2 billion, up 26.1% year‑on‑year, with revenue of Rs. 28.5 billion and operating profit of Rs. 2.1 billion. Growth was driven by stronger topline, improved gross margins and lower finance costs, with healthcare revenue up 20.2% while consumer brands saw a marginal revenue decline.

The Cabinet approved calling for investment proposals to lease the 3.92-hectare Charmers Granary site in Colombo Fort for 99 years based on the government valuation. The UDA-owned site is intended to attract large-scale projects (residential, healthcare, office, tourism and other mixed uses) aligned with Colombo’s development plan.

SLIIT has disbursed over one billion rupees in student support, including Rs. 152 million in 2023–24 scholarships and about Rs. 930 million via internal and partner financial-assistance schemes. The support includes collaboration with the Ministry of Education’s Interest-Free Student Loan Scheme to widen access to higher education.

AIA Sri Lanka won Gold in the 'Best Social Media Campaign: Facebook' category at the Hashtag Asia Awards 2025 for its AIA Suwa Walan breast cancer awareness campaign, up from Silver last year. The campaign used a clay-pot metaphor, digital engagement on Facebook and partnerships with the Sri Lanka Cancer Society.

Industries Minister Sunil Handunetti said Sri Lanka’s anti-dumping and countervailing duties will give greater protection to domestic tile, sanitaryware, leather and shoe manufacturers. He said a complaints mechanism will be set up and warned high tariffs on building inputs raise construction and hotel costs and hurt export competitiveness.

Sanken Overseas (Pvt) Ltd has made a strategic investment in CL Synergy Limited via a private placement, and a Sanken executive will join the CL Synergy board as the logistics group seeks to scale domestically and internationally. CL Synergy had pursued a Main Board listing but opted for private funding amid turbulent conditions.

COYLE and JETRO signed a Memorandum of Understanding to promote Health and Productivity Management across Sri Lanka’s corporate sector, including backing and expanding the Sri Lanka Corporate Health & Productivity Awards. The partnership aims to share Japanese best practices for workplace well-being and benchmarking.

Sunshine Holdings PLC reported 1QFY26 consolidated revenue of Rs. 15.9 billion (+11.6% YoY) and PAT of Rs. 1.7 billion (+20.6% YoY). Healthcare was the largest contributor (54.2%); agribusiness via Watawala Plantations posted 20.7% revenue growth with an expanded EBIT margin of 48.8%.

Brand Finance published Sri Lanka's 100 Most Valuable Brands for 2025, ranking Bank of Ceylon top with a brand value of Rs.57,411m; Commercial Bank, Dialog and People’s Bank follow the top positions. The list covers firms across banking, telecoms, FMCG, healthcare, hospitality and other sectors.

Manuja Hewawasam, Chairman of Royal Nursing Home (Pvt) Ltd, was honored with three Gold Awards by Lions Clubs International District 306 for 2021–2025: Most Supportive & Outstanding Lion Leader, Highest Financial Sponsorships and Service Excellence.

DB Automation opened a Zebra Experience Center in Bambalapitiya, Colombo, offering an interactive showroom of Zebra Technologies solutions for retail, healthcare, hospitality, logistics and manufacturing. The center provides live demos and trials of queue-free billing, high-speed barcode scanners, patient data management, inspection and automation systems.

Sunshine Holdings (SUN) reported consolidated revenue of LKR 15.9 billion in 1QFY26, up 11.6% YoY, and PAT of LKR 1.7 billion (+20.6% YoY). Healthcare drove performance (54.2% of revenue) while consumer and agribusiness (represented by Watawala) also posted YoY gains.

Colombo CCPI was -0.3% y/y in July 2025, up from -0.6% in June 2025. Food inflation fell to 1.5% (contributing +0.49ppt) while non-food inflation rose to -1.2% (contributing -0.82ppt); housing, electricity and transport were major downward contributors, with education and health rising.

US President Donald Trump said the US will impose a 25% tariff on goods imported from India from 1 August. The tariffs are expected to hit about $87 billion of Indian exports including garments, pharmaceuticals, gems & jewellery and petrochemicals, and could prompt retaliatory actions affecting energy and other trade.

Sri Lanka and Türkiye held the 3rd JCETC on 24 July, agreeing to deepen cooperation across trade, investment and tech, with bilateral trade reaching $257 million in 2024. The meeting noted a 78% rise in Turkish tourist arrivals and targeted sectors for investment including renewable energy, ICT, food processing and medical devices.

The U.S. and South Korea struck a trade deal that sets U.S. tariffs on South Korean imports at 15% and includes South Korean commitments to invest $350 billion in U.S. projects and to buy $100 billion of LNG and other energy products.

Adhitya Ayurveda Colombo marks its second anniversary after serving over 1,000 clients this year, positioning itself as a leading Ayurvedic wellness destination in Colombo. The luxury centre, expanded from Anuradhapura, offers personalized treatments, partners with Momager for postpartum care and plans new therapies.