News & market updates

The Sri Lanka Banks' Association submitted a comprehensive package of proposals to the 2026 Budget seeking banking-sector reforms — including tax relief, targeted credit guarantees, SME formalisation, digital infrastructure, and green finance measures — to support economic recovery.

Hayleys Fibre commissioned a Rs. 600 million, 48-acre integrated coir processing facility in Kadigawa to supply nearly one-third of its raw material needs and boost exports and rural employment; the site integrates husk processing, fibre extraction, coco peat milling, drying and storage.

Fitch assigned Hayleys Fentons Ltd a National Long-Term Rating of 'A+(lka)' with a stable outlook. Fitch cited HFL's market-leading rooftop solar sales (about Rs.19bn in FY25; 129MW added), planned 149MW of power projects with execution/CEB counterparty risk, and forecast peak net leverage of 9.0x in FY27 before easing.

Carmart unveiled the Leapmotor C10 REEV in Colombo, a range‑extender SUV capable of up to 1,150 km, with introductory prices from Rs. 17.4 mn (full EV) and Rs. 20.95 mn (REEV) and deliveries starting in October.

Sri Lanka's Energy Minister and the Maldives State Minister visited Jakson Group's Greater Noida solar module factory (1.2 GW annual capacity) to explore clean-energy partnerships to support Sri Lanka's 70%-by-2030 renewables goal and Maldives' carbon-neutral ambitions. Jakson also announced a ₹8,000 crore plan for a 6 GW integrated facility in Madhya Pradesh.

Commercial Bank of Ceylon won six awards at LMD Awards Night 2025, the highest number of awards at the event. LMD had also ranked the bank the Most Awarded Corporate Entity in 2024 with 115 awards; the bank is noted for digital innovation and being Sri Lanka’s first 100% carbon-neutral bank.

Dilmah Ceylon Tea Company (CTEA.N0000) and Dialog Axiata (DIAL.N0000) executives represented Sri Lanka at the UN Global Compact Private Sector Forum in New York on 22 September to discuss mobilising private capital for the SDGs. The forum emphasised sustainable finance across food systems, energy, digital access and climate, noting a global SDG financing gap of over $4 trillion.

Fitch assigned Hayleys Fentons Ltd a National Long-Term Rating of A+(lka) (Stable), citing market-leading rooftop solar sales, planned 149MW of generation projects and a one-notch uplift for support from parent Hayleys PLC.

The SEC launched a 10-year "12 Pillars" capital market roadmap on Sept 24 to boost market infrastructure, products and digitization; ASPI has risen 209.5% since 2021 and market cap stands at Rs. 7.44 trillion. Key reforms include CSE demutualization, ETFs and derivatives, expanded corporate debt and digitized trading/settlement, alongside recent green and Sukuk issuances by DFCC, Commercial Bank and Vidullanka.

Hayleys Solar won Silver at Dragons of Sri Lanka 2025 for its 'Nayak Nowana Nayak' integrated marketing campaign. The campaign promoted zero-electricity-bill solar adoption, partnered with more than 15 banks to simplify financing, and launched a savings calculator to boost digital engagement.

The Sri Lanka Banks' Association submitted a wide-ranging set of proposals to the Finance Ministry for the 2026 Budget, urging tax reform, targeted credit guarantees, SME formalisation, digital infrastructure, green finance and PPPs to support economic recovery.

Seylan Bank PLC has renewed its role as exclusive financier for Phase II of a 10 MW ground-mounted solar plant in Navatkadu, providing Rs. 3.5 billion in Islamic project financing for both phases; the project is promoted by Sooryashakthi Ltd., owned by Windforce PLC and Vidullanka PLC.

Dilmah Ceylon Tea Company and Dialog Axiata joined the 2025 UN Global Compact Private Sector Forum in New York to mobilize private finance for the SDGs. The Forum highlighted a >USD4tn SDG financing gap and prioritized transitions in food systems, energy, digital access, and climate resilience.

Sri Lanka has prepared a national renewable hydrogen policy to position the country as a regional hydrogen hub and launched a Just Energy Transition (JET) study, both developed with support from the UNDP to guide renewable hydrogen deployment and financing.

Proparco, the private-sector arm of France's AFD, said it is interested in financing Sri Lanka's grid-scale build-operate-own battery energy storage system (BESS) projects for private investors. Sri Lanka has called for BESS bids on a 15-year concession and extended the submission deadline to October 15.

President Anura Kumara Dissanayake said the government will retain state ownership of the power sector and is reorganising the Ceylon Electricity Board into new state-owned companies to improve efficiency. He said this is not privatisation and that employee rights, positions and entitlements will be preserved.

Dialog Axiata (DIAL.N0000) has been invited to participate in the UN Global Compact Private Sector Forum at UN Headquarters in New York on 22 Sep 2025, with CEO Supun Weerasinghe joining about 50 global CEOs. The invitation recognises Dialog's sustainability work, including renewable energy adoption and digital inclusion initiatives.

The late Deshamanya Harry Jayawardena was posthumously awarded the 'Faces of South Asia' recognition at the South Asian Travel Awards 2025; his daughter Stasshani Jayawardena, Chairperson of Aitken Spence PLC and Aitken Spence Hotel Holdings PLC, accepted the honour on his behalf.

The National Chamber of Commerce of Sri Lanka will host a 31-member All India Chamber of Commerce & Industries delegation for B2B meetings on 26 Sep to explore trade and investment partnerships. Delegates represent sectors including agro-commodities, construction, packaging, renewable energy, healthcare, logistics, IT and food products.

Blossom Well Holdings signed a BOI agreement for $2.99 million to build a 72-room boutique hotel in Kohombagahapalassa, Thissamaharama near Yala National Park. The development targets upscale and midscale domestic and international tourists, features extensive amenities, digitalisation and sustainability measures (solar, waste-based energy, rainwater harvesting).

Bank of Ceylon (BOC) is leading the development of Islamic banking in Sri Lanka, promoting Shari’ah-compliant products, fintech adoption and Green Sukuk to finance renewable energy and infrastructure; the Colombo Stock Exchange listed the country’s first Sukuk in July 2025.

Dilmah Ceylon Tea (CTEA.N0000) Chairman/CEO Dilhan C. Fernando and Dialog Axiata (DIAL.N0000) Executive Director/Group CEO Supun Weerasinghe represented Network Sri Lanka at the 2025 UN Private Sector Forum in New York, joining 50 global CEOs to discuss mobilising private capital for sustainable, inclusive growth.

Seylan Bank (SEYB.N0000) acted as exclusive financier, providing a LKR 3.5 billion Islamic project financing facility for the 10 MW Phase II solar plant in Navatkadu promoted by Sooryashakthi (Windforce and Vidullanka). The plant feeds the national grid and expands renewable capacity.

Vidullanka PLC commissioned a 3 MW solar plant (via subsidiary Vidul Matara Solar Power Ltd.) on 19 Sep, adding about 5.5 GWh/year and bringing its portfolio to 24 plants totaling 66 MW. The plant is the first of 9 MW awarded under the CEB's 70MW tender and is the group's third plant this year (15 MW).

Solar Care International won multiple awards including Best Solar Preventive Maintenance Provider in Sri Lanka and Most Innovative Solar Company of the Year; the firm has completed over 44,000 kW of preventive maintenance and pioneered a 41-step PV maintenance methodology.

Blossom Well Holdings signed a BOI agreement for a USD 2.99mn investment to build a 72-room boutique hotel in Kohombagahapalassa, Thissamaharama, targeting upscale and midscale tourists near Yala National Park.

Dilmah Ceylon Tea Company PLC and Dialog Axiata PLC executives will represent Sri Lanka at the 2025 UN Private Sector Forum in New York on 22 September to discuss mobilizing private finance for sustainable, inclusive growth. Dilhan C. Fernando (Dilmah) and Supun Weerasinghe (Dialog) are named delegates.

Ceylon Electricity Board extended the bidding deadline to Oct 14 for private investors to build/operate Sri Lanka's first grid-scale BOO battery system totaling 640MWh (10 sites of 10MW/40MWh) under 15-year concessions. The batteries are intended to smooth intermittent solar output and boost grid stability.