News & market updates

Colombo Stock Exchange ASPI rose 0.40% to 13,613 and S&P SL20 gained 0.41% to 4,069 on Friday, with turnover Rs4.9bn and a net foreign outflow of Rs429m. Major contributors included Hayleys, Sunshine Holdings, LOLC, Access Engineering and Royal Ceramics; heavy volumes in HNB Finance and plantation stocks.

Sampath Bank's subsidiary Siyapatha Finance PLC opened its 52nd branch in Deniyaya, Matara District. The new branch will provide leasing, deposits, gold financing, business and personal loans, Fast Draft, factoring and Smart Pay automated bill payments and launched a CSR tree-planting and donation program.

Siyapatha Finance, a fully owned subsidiary of Sampath Bank PLC, opened its 52nd branch in Deniyaya offering leasing, deposits, loans, gold financing and Smart Pay digital services. The branch launch includes CSR activities and targets local agricultural and tourism-linked demand.

CTTA marked its 130th anniversary with a 'Honouring Legends' event on 30 Nov at the Colombo Rowing Club, recognising veteran producers, manufacturers, exporters and brokers in the Ceylon tea industry. The ceremony featured tributes, networking and presentation of 'Tea Men' as part of year-long anniversary events.

President Anura Kumara Dissanayake met World Bank Executive Director Parameswaran Iyer and was told all ongoing World Bank-backed projects in Sri Lanka will continue uninterrupted. They discussed government priorities including agriculture, fisheries, tourism, education, health, the Clean Sri Lanka programme, digital ID plans and land/housing for plantation communities.

World Bank pledged support for Sri Lanka's "Clean Sri Lanka" programme and said all ongoing World Bank-supported projects will continue uninterrupted. Discussions covered rural poverty, a Digital Identity Card, land and housing in the North and East (plantation community), and priorities including agriculture, fisheries, tourism, education and health, with the WB offering to convene an advisory group.

Aitken Spence won the Ceylon Chamber Best Corporate Citizen Sustainability Award 2024. Shortlist firms recognised included Talawakelle Tea Estates (Category B winner), Sampath Bank (runner-up and finance sector champion) and other shortlist companies such as Dilmah, Haycarb, Kelani Valley, Elpitiya, Jetwing Symphony, Hemas, Singer and Ceylon Tobacco.

Sri Lanka's goods exports rose 18.22% year-on-year to $1.09bn in October 2024, led by apparel, tea, rubber and coconut. Apparel exports increased 21.77% to $430.21m and tea grew 32.6% to $126.81m; ten-month exports rose 7.04% to $10.6bn.

Aitken Spence won the Grand Slam Award at the 21st Best Corporate Citizen Sustainability Awards 2024. Shortlisted companies receiving awards included Sampath Bank, Talawakelle Tea Estates, Kelani Valley and Elpitiya Plantations, Jetwing Symphony, Haycarb, Dilmah, Hemas, Singer and Ceylon Tobacco.

Aitken Spence PLC won the Grand Slam Award at the 21st Best Corporate Citizen Sustainability Awards 2024 after claiming the Best Corporate Citizen Sustainability Award 2024. Multiple other listed firms (including Sampath Bank, Talawakelle, Kelani Valley, Dilmah, Haycarb and others) were also recognised across categories.

Colombo market rose as the ASPI gained 0.84% (111 pts) to 13,340 with turnover of Rs.3.22bn and foreign net buying of Rs.85.3m. Top contributors included LOLC, CFIN, RCL, HNB and DIPD, while Agarapatana (+0.20 to Rs.9) and ACL Cables (+2.70 to Rs.98.50) saw notable activity.

Merchandise exports reached US$1,097.1 million in October 2024, up 18.22% y/y, and total exports including services were US$1,420.27 million, up 18.57% y/y. Growth was driven by apparel & textiles, tea, rubber, coconut products, spices and higher ICT and logistics services exports.

Colombo Stock Exchange closed up as ASPI rose 0.84% to 13,355, led by the food, beverage and tobacco sector (Rs783mn turnover). Top turnover movers included Agarapatana, Dipped Products, Central Finance, ACL Cables and CIC; Sunshine Holdings (amalgamation announced) also closed higher.

Flash Pack named Sri Lanka the top destination for solo travellers in 2025. The report cites diverse attractions—beaches, spoiling hotels and misty tea highlands—and notes the average solo traveller age rose from 36 to 39, supporting stronger demand for social/adventure travel.

A Southern Gujarat Chamber delegation visited the Ceylon Chamber to boost bilateral trade and invited Sri Lankan exporters to showcase tea, spices and agro-goods at the January Global Village in Surat. The visit highlighted opportunities in textiles, gem processing and wedding tourism for India-bound projects and partnerships.

Rohitha Bogollagama, Sri Lanka's High Commissioner to the UK, met Marks & Spencer chairman Archie Norman to urge M&S to expand sourcing from Sri Lanka for apparel and food, including fresh fruits, processed foods, coconut products and Ceylon tea. Norman said M&S would assist UK due process on rules-of-origin flexibilities and is considering consolidating operations in Sri Lanka as a regional supply hub.

A high-level delegation from the Southern Gujarat Chamber of Commerce and Industry visited the Ceylon Chamber to deepen India–Sri Lanka trade ties and invited Sri Lankan exporters to the Global Village event in Surat in January to showcase tea, spices, fruits and agro-exports. The delegation also proposed joint ventures and highlighted opportunities in wedding tourism, textiles and gem processing.

Colombo bourse rose with the ASPI up 0.9% (115 pts) and turnover jumping to Rs.5.1bn, boosted by crossings and heavy banking-sector activity. Top contributors included Sampath Bank, Commercial Bank, John Keells, Hemas and NDB, with a net foreign outflow of Rs.246.3m.

Loss of GSP+ could cut Sri Lanka’s exports to the EU/UK by about US$1.23bn (36.7% vs 2019), with the wearing apparel sector facing a US$996.38m (44.63%) drop. IPS estimates 73,574 jobs at risk—mostly low/medium-skilled women in apparel—threatening inclusive growth.

Sri Lanka’s Export Development Board urged India to remove market-access limits—including an 8-million-piece apparel quota and pepper quotas—to expand exports and sought Indian FDI and cooperation. The talks also flagged opportunities in ports, logistics and renewable energy; India was Sri Lanka’s third-largest trade partner in 2023.

Al Wazzah Tea opened its first exclusive pure Ceylon Tea showroom in Riyadh on 18 November. The showroom, with tea supplied by Sri Lanka's Finlays, will serve as an outlet to meet demand for pure Ceylon Tea in Saudi Arabia and the broader Arab market.

Widespread garbage, open burning and indiscriminate dumping in Nuwara Eliya are degrading the area's tourism appeal and harming local cultivation and homestays, with trash blocking public areas, burning plastics and animals scavenging waste.

Sri Lanka's Consulate General in Dubai and the Export Development Board showcased 11 Sri Lankan companies' organic and natural products at the Organic and Natural Products Expo Dubai 2024 (18–20 Nov), promoting tea, coconut, spice and other sustainable goods to boost exports to the Middle East.

Sri Lanka's Embassy in Brussels promoted the country as a leading ethical and sustainable sourcing destination at the European Parliament 'Fair Trade Breakfast' on 13 November 2024, showcasing Fair Trade tea, spices, coconut products and toys. Ambassador Chandana Weerasena outlined sector developments, challenges and requested EU/international support.

Flash Pack named Sri Lanka the most popular solo travel destination for 2025, up from fourth in 2024. The report also notes solo travellers are older (average age 39 vs 36) and holiday bookings have jumped (Easter +70%, Christmas bookings doubled).

Sri Lanka's Embassy in Brussels participated at the European Parliament 'Fair-Trade Breakfast' on 13 Nov 2024, promoting Sri Lanka as a top ethical and sustainable sourcing destination. Sri Lankan fair-trade certified products—tea, spices, coconut products and toys—were showcased and stakeholders sought EU support.

Asia Siyaka said tea export volumes rose 14% YoY in October to 20.7 Mnkg, taking Jan–Oct volumes to 203.1 Mnkg and lifting earnings to Rs. 360.5 billion (~$1.186bn). Value-added exports hit a 16-year low even as tea bag and instant-tea segments grew 11% and 22% YoY.

CA Sri Lanka hosted the SAFA Best Presented Annual Report Awards 2023 in Colombo, where Sri Lankan firms won 24 awards. Several listed companies — including Commercial Bank, Hayleys, Haycarb, Royal Ceramics, Access Engineering, Kelani Valley, Talawakelle, DIMO, Sri Lanka Telecom, Ceylon Tea Brokers, NDB and L B Finance — received awards or merit recognitions.