News & market updates

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.

Sri Lanka Insurance Corporation General Limited reported 2025 GWP of Rs.30.3 billion and profit before tax of Rs.3.3 billion, with new business up 51% to Rs.12.5 billion. Market share rose to 20.2% and the company invested Rs.12.8 billion in government securities.

Samsung Sri Lanka launched the Galaxy A57 5G and Galaxy A37 5G, featuring One UI 8.5 with Awesome Intelligence AI, 50MP triple cameras, IP68 durability and up to a 5,000mAh battery (A57); offerings include two-year screen/back glass replacement and Samsung Easy Pay instalments.

A delegation of 10 Sri Lankan ICT companies, supported by the Export Development Board, JICA and the Sri Lankan Embassy, completed participation at Japan IT Week Spring 2026, generating 300+ leads, 100+ business meetings and potential future business estimated at over USD 2.0 million. The program included briefings, site visits and targeted B2B matchmaking to support market entry into Japan.

Deloitte told SLASSCOM members that Sri Lanka’s Knowledge & Innovation (IT) sector must strengthen transfer pricing policies and documentation as scrutiny rises following the Inland Revenue’s January 2025 APA framework and the transition away from tax holidays, to ensure arm’s-length outcomes and support export earnings.

Sri Lanka Insurance Corporation General Ltd reported 2025 Gross Written Premium of Rs.30.3 billion and Profit Before Tax of Rs.3.3 billion. New business rose 51% to Rs.12.5b, market share reached 20.2%, and it paid Rs.12.3b in claims.

The Asian Development Bank estimates Sri Lanka has about $6 billion of unrealised export capacity — exports could rise 47% if gaps are addressed — and says weak export growth has widened the trade deficit and pressured the rupee ahead of rising external debt repayments. Usable reserves cover roughly three months of goods imports, limiting the Central Bank's ability to defend the currency.

Census 2024: elderly share rises to 18% while total fertility falls to 1.3, signaling rapid ageing and a narrowing future workforce. Labour force participation is 47.3% (52.7% inactive) and NCD prevalence is 19.2%, raising long-term health, pension and housing pressures.

Meta will cut about 10% of its workforce (just under 8,000 employees) and close ~6,000 open roles; Microsoft is offering voluntary retirement packages to roughly 7% of its US workforce (~8,750) as both increase AI investments and cite productivity gains.

ESMA chair Verena Ross warned cyber risks are growing and that AI could speed up attacks, saying regulators are contacting financial entities to assess their defences. ESMA and other EU regulators have named 19 critical third-party tech providers under new resilience rules and may expand oversight to AI vendors.

The Colombo Chief Magistrate’s Court made permanent its conditional order against two accused in the first-ever case filed under Sri Lanka’s Online Safety Act. The court removed the conditional order against four other accused and concluded proceedings in the matter.

Sri Lanka's Treasury says a $2.5m payment to Export Finance Australia was diverted in a cyber breach uncovered during the transfer of debt operations from the Central Bank to the Treasury; officials say debt servicing is not at risk and investigations are ongoing.

Treasury Secretary Harshana Suriyapperuma said Sri Lanka did not incur a technical default after cybercriminals diverted about $2.5m intended for Australia's export credit agency. The Joint Opposition warned the breach could erode public trust in the banking system and harm external credibility.

A complaint to the IGP seeks a police probe into the alleged misdirection of a $2.5 million Treasury payment, part of a $22.9 million loan repayment. A technical investigation committee was appointed and several Treasury IT officials have been suspended; the complainant calls for an independent inquiry.

Sri Lanka Police warn of a new scam using .apk files sent via WhatsApp/Telegram that install malware to control phones and intercept SMS OTPs, risking bank accounts; public told to avoid unknown APKs, use official app stores, disable 'Install Unknown Apps' and report incidents to police/CCID.

Sri Lanka’s Minister of Agriculture K.D. Lal Kantha reaffirmed the country’s active engagement at the FAO Regional Conference (APRC38), prioritizing stronger domestic production, reduced import dependency, agricultural modernization through digital governance and water management, and export-oriented villages.

Hanif Yusoof, Presidential Special Envoy for Foreign Investment and Western Province Governor, pitched Sri Lanka as a South Asian investment hub at a high-level virtual roundtable attended by major US firms including Apple, Boeing, Visa, Google, Airbnb and others.

IN10NT Digital has launched Island Impact, a digital branding initiative to reposition Sri Lanka in the global tourism market as arrivals topped 2.3 million in 2025. The program offers complimentary digital brand audits for tourism SMEs and focuses on data-led audience strategy, performance marketing and creator storytelling.

Bank of Ceylon presented its 2025 Annual Report reporting profit before tax of Rs. 120.8 billion and tax remittances of about Rs. 77 billion, while highlighting financial inclusion (BOC Connect Agent Banking), support for exporters/MSMEs and plans for digital transformation.

Seylan Bank (SEYB.N0000) launched the Seylan Accelerate Salary Advance Facility, offering eligible salaried customers (Prime/Premier tiers) interest-free access to a portion of their monthly salary for short-term liquidity and urgent expenses.

Hyundai Motor will roll out 20 new models in China over the next five years, aiming to double annual sales to 500,000 vehicles. It launched the China-specific electric IONIQ V and is expanding partnerships with autonomous-driving developer Momenta and battery maker CATL.

Dialog Axiata PLC appointed Arjuna Herath as Independent Non-Executive Director, effective 1 May 2026. He brings experience in consulting, corporate finance and regulatory governance, including roles at the Board of Investment, the Sri Lanka Data Protection Authority, EY and the Colombo Stock Exchange.

Sri Lanka's cumulative exports for Jan–Mar 2026 reached US$ 4,308.11 million, up 1.59% year-on-year. March exports were US$ 1,467.31 million (down 5.2% YoY but up 9.0% month-on-month), with strength in coconut, processed food, electronics and services while apparel and tea declined.

The Finance, Planning and Economic Development Ministry said hackers breached its External Resources Department and stole $2.5 million from a bilateral payment to Australia; SLCERT, CID and CBSL's FIU are investigating and disciplinary action was taken.

Cabinet approved drafting a Bill to create the Sri Lanka Industrial Transformation and Innovation Authority, consolidating the Industrial Development Board, National Enterprise Development Authority and the Small Enterprise Development Division into one body. The authority is intended to improve policy coherence, reduce overlap and strengthen industrial transformation, innovation and SME support.

Finance Ministry says cyber hackers breached the External Resources Department's computer systems and has lodged complaints with SL-CERT, the Computer Crime Investigation Division, CID and the Central Bank's FIU; a preliminary internal inquiry and disciplinary actions have been initiated.

Dialog Axiata's corporate arm Dialog Enterprise has partnered with Star Garments to deploy 5G-powered IIoT and smart factory solutions across the garment maker's operations to improve efficiency, automation and real-time decision-making.

Hayleys Fentons Limited was named among the Top 40 Outstanding Companies at the Best Management Practices Company Awards 2026, winning multiple awards including Winner in Power & Energy – Renewable and in Construction and Project Engineering; the business is part of the Hayleys group.

Dialog Axiata PLC has partnered with OREL Corporation to integrate the Dialog Play Smart TV app into OREL smart TVs and roll out co-branded smart home devices starting with smart power strips. The collaboration aims to combine OREL's device manufacturing with Dialog's digital platforms to expand Sri Lanka's smart ecosystem.