News & market updates

Asia Broadcasting Corporation received a 2026 Global Recognition Award for media leadership in South Asia, recognising its technological leadership, content innovation and public accountability under Chairman Rayynor Silva.

People’s Bank Investment Banking Unit (PBIBU) was named "Best Investment Bank Sri Lanka 2026" by Global Banking and Finance Review. PBIBU highlighted a track record including 33 listed debenture issuances and one IPO mobilising over Rs.225 billion, and a March 2026 Tier‑2 debenture that raised Rs.25 billion.

Citizens Development Business Finance PLC (CDB.N0000) launched the QR Sound Box, a device providing instant voice confirmations for QR payment transactions to improve merchant convenience and drive SME digital payment adoption; card acceptance functionality will be introduced later.

Visa appointed Suresh Sethi as Group Country Manager for India and South Asia, succeeding Sandeep Ghosh; he will lead Visa’s strategy and operations across India, Bangladesh, Sri Lanka, Nepal, Maldives and Bhutan.

Amana Takaful PLC and Amana Takaful Life PLC were named Sri Lanka’s Most Awarded Insurance Company for 2026 by LMD Magazine, marking a third consecutive year of the recognition. The awards notably cited digital excellence and the group's investments in digital capabilities, process improvements and customer-focused solutions.

President Anura Kumara Dissanayake met with Inland Revenue Department officials to boost IRD capacity—focusing on broadening tax revenue, maximising compliance, recovering arrears, institutional restructuring and digitisation, and completing the national e-invoicing system within the stipulated timeframe.

President Anura Kumara Dissanayake directed the Inland Revenue Department to accelerate tax-reform measures and fast-track a national e-invoicing rollout, insisting the system be completed within the stipulated timeframe. Officials reviewed IRD 2026 progress and discussed institutional restructuring and digitalisation.

SLT-MOBITEL has signed a sixth consecutive-year agreement with STEMUP Educational Foundation to run the Code Club programme, expanding the 2026 edition to the SLT-MOBITEL Nebula Institute and 20 public libraries. The redesigned curriculum adds AI, robotics and advanced digital skills to broaden STEM access islandwide.

XPENG will launch the all-new G6 in Sri Lanka via Evolution Auto on 15 May, offering up to 480 km (WLTP) range and Level 2 autonomous driving. The premium EV targets local buyers with features including a 15.6-inch central touchscreen, 570L boot and integrated mobile app.

Citizens Development Business Finance PLC (CDB) launched the Sound Box, a device providing real-time voice confirmations for QR payments to boost merchant convenience and drive digital adoption among SMEs. The device supports QR transactions now and will add built-in card acceptance services in future.

Laptop.lk and Technocity Pvt Ltd completed a state-of-the-art AI IT laboratory at Ananda College, Chilaw, and expanded their contribution to LKR 80 million (including LKR 60m in IT equipment) under the “Rebuilding Sri Lanka” program.

DFCC Bank has partnered with AlfaNow in Dubai to expand its Middle East remittance network, improving speed, security and accessibility of transfers for Sri Lankan expatriates (notably in the UAE). The tie-up aims to reduce turnaround times and boost reliability of inward remittances.

The Event Management Association, with the Ministry of Industry and Entrepreneurship Development, launched the official Sri Lanka Event Calendar — a centralized digital platform to showcase major international and local events and boost tourism. They also announced a Diploma in International Event Management and Marketing Studies to build industry skills.

Deputy Minister Prof. Ruwan Ranasinghe concluded an official visit to Sichuan Tourism College on April 23, 2026, where Sri Lanka and Sichuan reached preliminary agreements on joint initiatives including a Sichuan Cuisine Academy, a China–Sri Lanka Joint Research Center for Mountain Tourism, a cultural tourism cooperation platform and expanded Sri Lankan student enrollment. The cooperation focuses on tourism education, vocational training and digital empowerment under the Belt and Road framework.

CRIB and Lanka Rating Agency soft-launched an AI-powered Digital Dynamic Credit Ratings (DDCR) model to improve SME creditworthiness assessments and access to capital. The model combines CRIB's authenticated credit data, LRA's AI analytics and INF Technologies' tech, with stress-testing for macro risks; a phased rollout is planned.

President Anura Kumara Dissanayake met Inland Revenue officials to push programmes to broaden the tax net, maximise compliance, recover arrears and complete national e-invoicing and IRD digitalisation on schedule. Recent reforms include VAT at 18%, repeal of SVAT and broadened withholding tax covering gig-economy service providers.

Oil climbed about 2% to a three-week high of $107.97 a barrel as stalled U.S.-Iran talks prolonged disruptions to Middle East energy exports. Renewed AI-driven buying lifted chip stocks while markets braced for multiple central bank meetings and interest-rate guidance this week.

Opposition MP Dr. Harsha de Silva criticised a reported $2.5 million breach of Treasury funds as reflecting basic negligence and urged a Parliamentary probe. He said standard payment verifications were not followed and the Committee on Public Finance is expected to examine the incident.

Digital Economy Ministry says the reported $2.5m Treasury breach was likely a phishing and impersonation scam, not a systems hack; a multi-agency probe including Sri Lanka CERT and the Central Bank is tracing the funds and authorities hope to recover them via the banking trail.

Nations Trust Bank will take over HSBC's Sri Lanka retail banking operations and the Rs.18 billion portfolio effective 1 May, with services expected to resume from midday 2 May after a system migration blackout. HSBC will suspend various services from 24 April and fully cut access from 7 p.m. on 30 April.

Janashakthi Finance PLC (BFN.N0000) launched "Shakthi", a women-focused fixed deposit product offering competitive returns and added benefits to encourage long-term saving. The product will be distributed via the company's branch network and digital channels and is offered by Janashakthi Finance, a subsidiary of Janashakthi Limited (JXG.N0000).

Emirates' A380 is the first aircraft fitted with next‑generation Starlink Wi‑Fi — three antennas delivering more than 2 Gbps of total aircraft bandwidth — and Emirates will accelerate installations across its fleet through 2026.

Activ8 Asia was awarded Platinum Excellence in Business Process Outsourcing & Customer Experience Solutions in 2026 at City of Dreams, Cinnamon Life, Colombo. The award highlights its new CRM solution that reduces CRM tagging and administrative time for outbound call agents to boost productivity and service quality.

Ten Sri Lanka ICT companies generated an estimated USD 2.0 million in future business prospects and over 300 leads at Japan IT Week Spring 2026, the Export Development Board said. The EDB, with JICA and the Sri Lanka embassy, facilitated briefings, site visits and networking to boost Sri Lanka–Japan ICT collaboration.

Visa appointed Suresh Sethi as Group Country Manager for India and South Asia, responsible for strategy and operations across India, Bangladesh, Sri Lanka, Nepal, Maldives and Bhutan. He succeeds Sandeep Ghosh and will report to the Regional President, Asia Pacific.

Infinix unveiled the NOTE 60 Series in Colombo, introducing an AI Matrix Display and Snapdragon-powered 5G performance. The series, launched with partners including Qualcomm and JBL, is now available nationwide across retail and online channels.

Softlogic Life has partnered with Dialog Axiata's Doc990 to introduce a fully cashless, real-time OPD claims facility for its corporate health and life insurance clients, with eligible users receiving a 35% discount on Doc990 channeling fees. Claims are processed instantly at point of care, removing reimbursement paperwork and upfront payments.

Deloitte Sri Lanka urged IT and knowledge-sector firms to treat transfer pricing as a strategic tool, aligning intercompany pricing with value creation amid regulatory shifts and the IRD's APA framework. It recommended robust FAR/DEMPE documentation and use of APAs to reduce audit risk.

China's Global Security Initiative (GSI), proposed in 2022, has been cited in over 140 international documents and endorsed by more than 130 countries by 2026, highlighting priorities such as information/cyber security, AI governance and bio-security. It calls for strengthening the UN's role, peaceful settlement and multilateral cooperation among its 20 listed priorities.

Diesel & Motor Engineering (DIMO.N0000) hosted the Mercedes‑Benz Flying Doctor Service Clinic from 6–10 April 2026 focused exclusively on EQ electric models, providing factory-level diagnostics and one-on-one technical consultations to strengthen EV aftersales support in Sri Lanka.