News & market updates

The Commonwealth Enterprise and Investment Council appealed for support after Cyclone Ditwah, which has killed over 300 people, left hundreds missing and thousands homeless across Sri Lanka. CWEIC said its strategic partners stand ready to assist international recovery efforts.

Cyclone Ditwah has killed 366 people, left 367 missing and affected 1,151,776 individuals across 25 districts, the Disaster Management Centre reported. More than 316,000 families are impacted, 218,526 people are displaced in 1,564 safety centres, with shortages of clean water, medical care and fuel and damaged access routes.

Colombo Stock Exchange opened December sharply lower as the ASPI fell 3.04% to 22,022.06 following Cyclone Ditwah; the S&P SL20 lost 2.89% and turnover topped Rs.5.2bn with foreign net outflow of ~Rs.106.2mn. Capital Goods and Banking led turnover while Access Engineering rose and several banks and John Keells fell.

Colombo Dockyard Plc (DOCK.N0000) delivered the ninth 5,000 DWT Eco Bulk Carrier 'Misje Sakura' to Misje EcoBulk AS of Norway, ahead of the contractual delivery date. The DNV-classed hybrid vessel includes an Energy Storage Battery System for electric hybrid propulsion and supports export earnings.

Sierra Cables (SIRA.N0000) reported 1H revenue up 80% to Rs. 7.51bn and net profit up 130% to Rs. 1.37bn. The company affirmed an A+ national rating, is expanding exports (notably to the US), increasing capacity and targeting renewable-energy and construction-grade product lines.

Ceylon Chamber of Commerce chair Krishan Balendra opened the Sri Lanka Economic & Investment Summit 2025, said growth is approaching 5% of GDP and announced all summit social funds will be redirected to Cyclone Ditwah relief. He urged private-sector support for recovery and highlighted strong foreign investor participation.

Binance Charity pledged LKR ~61.6 million (USD 200,000) to the Sri Lanka Red Cross Society to support immediate relief and early-recovery efforts for communities hit by Cyclone Ditwah. Funds will be used for food, clean water, hygiene kits, medical supplies, temporary shelter materials and cash grants.

The Ceylon Chamber of Commerce will proceed with the Sri Lanka Economic and Investment Summit in a scaled-back format and donate all funds originally allocated for social events to Cyclone Ditwah relief. The Summit will focus on recovery, resilience and investment priorities as the private sector mobilises support for rebuilding.

Indian PM Narendra Modi phoned Sri Lankan President Anura Kumara Dissanayake to offer condolences and assure continued Indian rescue and relief support under Operation Sagar Bandhu after Cyclone Ditwah; both leaders agreed to remain in close touch as Sri Lanka begins rehabilitation.

Cabinet approved the 'Rebuilding Sri Lanka' Fund to finance recovery from Cyclone Ditwah and appointed a management committee chaired by Dr. Anil Jayantha Fernando that includes private-sector representatives from Hayleys, John Keells, Aitken Spence and LOLC.

The Commonwealth Enterprise and Investment Council urged Commonwealth nations to support Sri Lanka's recovery after Cyclone Ditwah, which has killed over 300 people, left hundreds missing and thousands homeless. CWEIC said its Strategic Partners in Sri Lanka stand ready to assist.

Sri Lanka will set up a joint public–private recovery fund to rebuild infrastructure after Cyclone Ditwah and has commissioned the World Bank to carry out a GRADE damage assessment expected within two weeks. A formal disaster declaration has been made to unlock international aid while the government seeks domestic and foreign support.

Colombo Stock Exchange fell 3.04% (690.76 pts) to 22,022.06 after Cyclone Ditwah, with selling across the market; construction names saw buying—Access Engineering +2.40 to 74.00, Kelani Cables +34.00 to 1,139.50, ACL Cables +3.00 to 225.00.

WindForce subsidiary Diya Janani signed an SPPA with the Ceylon Electricity Board to build a 6.5MWdc/5MWac floating solar project on Dambuluoya Reservoir at an estimated cost of 1,176 million rupees, financed 80:20 debt to equity. The company said it is one of the first and largest private-sector floating solar developments in Sri Lanka.

John Keells Holdings delivered a broadly in-line Q2 FY26 with retail (BYD: 3,705 vehicles), consumer foods and financial services—led by Nations Trust Bank—driving growth; City of Dreams Sri Lanka became fully operational in Aug 2025 and was close to EBITDA breakeven.

Colombo Stock Exchange opened sharply lower after Cyclone Ditwah, with the ASPI down 2.84% (644.04 pts) at 22,068.78 and the S&P SL20 down 2.63% at 6,102.48 amid panic selling. Analysts said disaster-related rebuilding could trigger a later construction boom and attract foreign aid inflows.

The Disaster Management Centre reports 998,918 people across 25 districts have been affected by severe weather linked to Cyclone Ditwah, with 51,228 families (180,499 people) sheltered in 1,275 safety centres as flood and landslide impacts continue.

President Anura Kumara Dissanayake declared a State of Public Emergency and issued Emergency (Miscellaneous Provisions and Powers) Regulations No.1 of 2025, allowing authorities to requisition private property and vehicles, mobilise essential-service workers, and exercise search, seizure and detention powers.

President Anura Kumara Dissanayake urged the private sector to support immediate relief and broader recovery after severe weather in a meeting with The Ceylon Chamber of Commerce. Discussions focused on restoring electricity and drinking water, repairing highways and bridges, and addressing disruptions to tourism, airports and transport.

President Anura Dissanayake said Sri Lanka has Rs30 billion available for immediate disaster response and can seek further funds via supplementary estimates if needed. Cyclone Ditwah has downed power lines, blocked major roads and bridges, and flooded farmland including recently sown rice paddies.

The Ceylon Chamber of Commerce will proceed with the Sri Lanka Economic and Investment Summit in a revised format to support Cyclone Ditwah recovery, cancelling social events and donating those funds to relief and reconstruction efforts.

Government will establish a post-disaster rebuilding fund managed by a joint public–private committee to finance reconstruction of highways, irrigation, houses and plantations; the World Bank's GRADE damage assessment is expected in about two weeks.

Bybit will donate $100,000 to the Central Bank of Sri Lanka to support relief, shelters and essential supplies after Cyclone Ditwah's severe flooding in Sri Lanka, which killed 123 people and displaced over 44,000.

The Ceylon Chamber of Commerce pledged support for national recovery after Cyclone Ditwah, coordinating relief with government agencies and donating funds originally allocated for summit social events to relief efforts. The Chamber will proceed with the Sri Lanka Economic and Investment Summit in a revised format focused on recovery and resilience.

International Construction Consortium (ICC) launched ICC Timber Deck Tiles, an eco-conscious interlocking timber tile product for outdoor and semi-outdoor spaces. Designed for durability, slip resistance and tool-free installation, it targets residential, commercial and hospitality applications.

The Government launched an official donation portal, 'Stand with Sri Lanka' (https://donate.gov.lk), to channel international and domestic contributions for Cyclone Ditwah relief, stating 100% of donations will go directly to emergency aid including food, water, medical care and shelter.

Cyclone Ditwah killed 212 people, left 218 missing and extensively damaged infrastructure and farmland across Sri Lanka. Authorities report 206 roads made impassable, 10 bridges damaged, a downed 132kV pylon and flooded farmland, leaving about 998,918 affected and 147,931 homeless with fresh-vegetable supplies to the capital disrupted.

Cyclone Ditwah made 206 major roads impassable and damaged 10 bridges in Sri Lanka; Bailey bridges will be used to restore traffic while permanent rebuilding may take 12–18 months. Road clearance and repairs to the Colombo–Kandy rail link are underway as costs are assessed.

President Anura Kumara Dissanayake met the Ceylon Chamber of Commerce to seek business cooperation for disaster relief and to ensure the industrial sector is not hampered. The chamber raised issues affecting tourism, airports and transport, and discussions covered restoring electricity, drinking water and infrastructure such as highways and bridges.