News & market updates

The Computer Society of Sri Lanka (CSSL) launched the CSSL CIO Forum 2026 and the CSSL National CIO List 2025 to strengthen ICT leadership and support Sri Lanka’s digital economy. The forum and list will promote collaboration and recognise CIOs, focusing on AI, cybersecurity, cloud, data governance and digital infrastructure.

Commercial Bank of Ceylon launched a nationwide campaign to boost LankaPay JCB debit card adoption, waiving the first-year issuance fee from 1 May to 31 December 2026. The limited-time offer is open to new and existing customers and includes discounts, cashback and lifestyle promotions to drive digital payments.

Activ8 Asia was awarded Platinum Excellence in Business Process Outsourcing & Customer Experience Solutions in 2026 in Colombo. The company highlighted its new CRM solution that reduces agent CRM tagging and administrative time to boost outbound call-centre productivity and customer experience.

MillenniumIT ESP appointed Harendra Samarasinghe as CEO; he brings 20+ years in global technology and will lead the firm's transformation and global growth, with emphasis on cloud, AI and enterprise solutions for banking, travel and healthcare.

Colombo Stock Exchange rose with the ASPI up 0.47% and banks leading turnover at Rs.467 million. Nations Trust Bank completed the transfer of HSBC Sri Lanka's retail banking (effective May 1), Beruwala Resorts will close May 1–Aug 30 for refurbishment, and Sampath Bank appointed an independent director.

Cultus Workforce Development Services launched operations in Sri Lanka, introducing AWS re/Start and its Cultus Job Readiness programmes; the inaugural AWS re/Start cohort began April 27 after attracting over 400 applicants.

GameStop proposed to buy eBay for about $56 billion, offering $125 a share in a 50/50 cash-and-stock bid and said it may take the offer directly to shareholders if eBay’s board resists.

Sri Lanka Customs exceeded its April revenue target, collecting Rs. 186.5 billion, and is accelerating digitalisation to automate workflows, reduce corruption and speed container clearance to support trade facilitation and revenue collection.

The EU has granted €2.6m (≈Rs.970m) for a three-year 'Together We Rise' programme to strengthen civil society in Sri Lanka, supporting 50 CSOs and reaching about 701,100 people across nine districts. Implemented by World Vision and SAFE Foundation, it includes training, technical assistance, small grants and digital capacity building.

Dialog Axiata PLC said its 5G network has surpassed 1,000 live sites, meeting the TRCSL 2026 rollout targets ahead of schedule. The company says the expansion extends 5G coverage across all districts and builds on its commercial launch that served over 1.5 million subscribers.

Union Bank of Colombo reported 1Q2026 PBT of LKR 465 million (up 260%) and PAT of LKR 334 million (up 570% y/y). Gross income rose 24% to LKR 4.9bn, total assets grew 9% to LKR 188.7bn, and LKR 213m of other income came from the sale of shares in subsidiary UB Finance.

The Insurance Regulatory Commission of Sri Lanka has launched a nationwide digital motor insurance card effective 1 May, enabling real-time verification via call centre (1338), SMS (1338) and USSD (*1338#). The rollout accompanies tightened credit practices, cutting credit to 30 days from 1 May and moving toward a cash-before-cover model.

Commercial Bank of Ceylon launched a nationwide campaign to boost LankaPay JCB debit card adoption, waiving the first-year issuance fee for cards issued from 1 May to 31 December 2026.

DFCC Bank PLC has partnered with the National Chamber of Commerce of Sri Lanka to support SMEs with export-oriented workshops, financial literacy, business advisory services and market access via the From Sri Lanka (FSL) platform.

Singer Sri Lanka PLC has launched the new Apple MacBook Neo Series in Sri Lanka, priced from Rs. 289,999. The laptops are available at Singer showrooms and online with convenient payment options.

SDB bank’s UPay digital wallet received Merit recognition in the Best Digital Payment Application for Retail Payments category at the LankaPay Technnovation Awards 2026. The award highlights SDB’s focus on secure, accessible digital payment solutions for retail customers.

Melwa Conglomerate hosted its annual 'Night of the Generals' on 27 February at Cinnamon Life, Colombo, featuring a Talk Show on 'Smart and Resilient Cities' with international experts George Kunihiro and Naveed Anwar. The event drew senior professionals and highlighted Melwa's role in Sri Lanka's construction and industrial sectors.

Sampath Bank PLC launched a fully integrated AI-driven lending ecosystem on its Vishwa platform, enabling instant, paper-light loan approvals and faster SME and leasing credit decisions. The system uses automated assessments and external credit insights to speed approvals and reduce documentation requirements.

DFCC Bank has partnered with AlfaNow in Dubai to expand its Middle East remittance network, aiming to deliver faster, more secure and more accessible transfers for Sri Lankans in the UAE. The tie-up is intended to improve turnaround times and reliability for inward remittances.

Colombo market closed in the green for a fourth straight session as the ASPI rose 0.07% to 22,635 and the S&P SL20 gained 0.18% to 6,241.01; turnover was about Rs.4.2bn and foreign investors were net sellers of Rs.332.5m. CINS, BREW and JKH were among top contributors while diversified financials and banks led turnover.

FAO is providing $300,000 in fertilizer vouchers to 3,489 smallholder paddy farmers in Anuradhapura to help restore production ahead of the Yala season. Eligible farmers will receive e-vouchers worth $75–$90 (by plot size) redeemable for Urea, TSP and MOP, plus GAP technical booklets.

Sri Lankan authorities are investigating a missing $625,000 payment remitted to the United States Postal Service, officials said. The Criminal Investigation Department and Department of Posts opened probes amid reports the case may be linked to an alleged $2.5 million diversion of Treasury funds.

The Cabinet approved calling for investment proposals to develop about 1 acre (1 rood 12.4 perches) on Maradana Road, Colombo 10, into a mixed-development IT innovation hub to foster local tech talent and the digital economy.

Colombo Fort Magistrate imposed overseas travel bans on five officials over an alleged $2.5 million cyber breach that diverted Sri Lanka Treasury loan repayments to cybercriminals. The court ordered a forensic probe, bank account inspections and secure custody of the case file and approved a technical expert committee.

IRCSL launched 'Insurance Vision 2030 & 2035' and industry initiatives — a Centralised Insurance Data Repository (with CRIB integration), Digital Motor Insurance Card and National Motor Insurance Verification System, a Master Circular/PPW, and an IRCSL e-newsletter — aiming to double market size and lift penetration from 1.1% to 3% by 2035.

Sampath Bank PLC has launched a fully integrated AI-driven lending ecosystem on its Vishwa platform, enabling paper-light, automated loan approvals and instant loan offers within seconds. The system also speeds SME, personal and commercial leasing decisions by using data-led credit assessments and simplified income models.

Slack announced new capabilities to build, deploy and manage AI agents inside Slack, with Slackbot orchestration, an AgentExchange marketplace, a Slack Agent Kit for developers, richer Block Kit UI components and enterprise security controls.

Autobahn Traders (Pvt) Ltd completed a one-year rollout of an Odoo ERP system to improve operational efficiency and inventory accuracy for its BMW spare parts distribution business. The company will implement 5S over the next three months and pursue ISO certification, and operates with a 99.9% female workforce.

FAO launched a USD 300,000 fertilizer voucher programme to provide e-vouchers to 3,489 cyclone-hit smallholder paddy farmers in Anuradhapura ahead of the Yala season. Vouchers (USD 75–90) can be used to buy Urea, TSP and MOP from Agrarian Service Centers and beneficiaries will receive GAP technical booklets.

Elon Musk testified in his lawsuit against OpenAI, accusing its leaders of looting the nonprofit and seeking $150 billion in damages and to revert OpenAI to a nonprofit; the trial also names Sam Altman, Greg Brockman and involves Microsoft as a major investor.