News & market updates

Sri Lanka's rupee weakened to 335.50/90 per US dollar from 334.75/85 and government bond yields rose; a Rs 100,000 million Treasury bill auction is scheduled for 8 July.

Brent crude rose about 2% to $75.60/bbl and 10-year U.S. Treasury yields climbed to ~4.565% as renewed Middle East fighting and U.S. moves on Iranian oil raised supply and inflation risks. Equities saw renewed volatility and the AI rally lost momentum after volatile semiconductor results.

Sri Lanka's official reserve assets fell 6.3% in June to USD 6,450m, a USD 431m drop from May, the Central Bank said. The decline was driven by a 6.1% fall in foreign-exchange reserves to USD 6,254m and an 11.7% drop in gold reserves to USD 191m.

Tal Lanka Hotels Plc (TAJ.N0000) will raise Rs.1,871,429,980 via a rights issue of 66,836,785 new shares at Rs.28 each to repay/pre-pay loans, finance refurbishment of the Taj Samudra, settle vendor dues and meet corporate requirements. The issue is subject to Colombo Stock Exchange and shareholder approvals.

IMF reviewed Sri Lanka's public revenue reforms with the RARMB, noting tax compliance has risen to 70–75% and agreeing to continue technical assistance for customs, excise and tax digitalisation. A draft Customs Ordinance Bill has been submitted and plans include paperless customs, tariff simplification and integrated data-sharing.

The Central Bank of Sri Lanka reported that not a single local Hawala or Hundiyal operator has registered under the 2024 licensing framework. Parliament's finance committee questioned the policy's effectiveness as CBSL cut the capital requirement to Rs.15m and said three overseas operators applied.

Parliament’s Committee on Public Finance warned online scam networks are an emerging financial‑crime risk and urged authorities to identify such threats early as Sri Lanka strengthens its anti‑money‑laundering framework. Officials said fraud (including scams) and trade‑based money laundering are rated medium‑high risks and the committee approved related AML legislation.

The Treasury will offer Rs.100 billion in a T-bill auction today (Rs.50bn 91-day; Rs.35bn 182-day; Rs.15bn 364-day). Secondary bond yields were broadly steady with the short end around 10.50–10.65% and 4-year paper near 11.10–11.33%; net liquidity surplus Rs.134.77bn and USD/LKR ~335.

Aitken Spence Travels (part of Aitken Spence PLC) and Lanka Exhibition & Conference Services won a Cabinet-approved Rs.178.71m contract to manage Sri Lanka Expo 2027, scheduled for 14–17 January 2027.

Colombo Stock Exchange fell for a sixth straight session as the ASPI dropped 0.54% to 21,962.30. Turnover exceeded Rs.1.5bn with foreigners net sellers of Rs.185m; major drags included Melstacorp, John Keells, Carson Cumberbatch and CIC Holdings, while Access Engineering and Chevron Lubricants featured among top contributors.

hSenid Business Solutions PLC proposed a new ESOP covering 3,618,580 ordinary shares (about 1.22% of enlarged issued share capital) to utilise unallocated shares from its 2022 plan; the scheme is subject to CSE and shareholder approval.

The Cabinet approved submitting Import and Export (Control) Regulations Nos. 05 and 06 of 2026 to Parliament, introducing mandatory export licences for discarded metal and scrap exports and new import prepayment timeframes of 180, 365 or 730 days for goods. The measures aim to protect domestic industries and strengthen trade oversight.

President Anura Kumara Dissanayake ordered tighter oversight of agricultural spending ahead of the 2027 Budget, directing officials to maximise use of 2026 allocations, expedite delayed foreign-funded projects and promote concessionary loans for young entrepreneurs. He also called for district-level consolidation of irrigation management, mapping of rehabilitation projects and proposals to expand export agriculture and value addition.

New AML legislation would give statutory recognition and stronger powers to Sri Lanka's Financial Intelligence Unit, expand reporting and due-diligence rules and create a statutory National Coordinating Committee; Parliament's finance watchdog questioned the FIU's independence from the Central Bank.

NCGI issued its 2,000th collateral-free credit guarantee, enabling over Rs.14 billion in SME loans within 15 months and targeting 4,000 beneficiaries by year-end. The ADB- and Finance Ministry-backed scheme has allocated 20% to women-owned firms and 24% to priority sectors including agriculture, IT, tourism and exports.

Central Bank Governor Nandalal Weerasinghe backed calls for a multi-agency probe into alleged $1 billion phantom imports and said the Central Bank would participate. He cautioned timing differences and advance payments could account for about 40% of the questioned transactions and urged a comprehensive inquiry before conclusions.

Colombo bourse fell with the ASPI down 0.61% to 21,828.50, led by capital goods turnover; Industrial Asphalts jumped 60% after agreeing to sell a 48.03% controlling stake. Hela Apparel’s subsidiary signed a management services agreement amid working capital challenges.

The 10th C Rugby Tag Rugby Tournament takes place on July 17-18 at CR&FC Grounds, featuring 16 teams and a new Corporate Segment that includes corporate challengers from Commercial Bank, Dialog, Cinnamon Colombo Hotels and CDB Finance.

Sri Lanka Insurance Corporation General Limited launched Beechat, a trilingual generative AI insurance assistant providing 24/7 policy information and real-time claim status via the company's website and customer portal.

Sri Lanka Institute of Directors will host the Sri Lanka Corporate Director Summit 2026 on 22 July 2026 at Cinnamon Grand Colombo to equip board directors with guidance on future-ready governance, covering AI/cybersecurity, reputation, talent and sustainable growth.

Sunshine Holdings (SUN.N0000) held its SUN Awards 2026 and reported consolidated FY26 revenue of Rs. 65.9 billion, up 11.2% YoY. The event presented 169 awards and 119 long-service recognitions across the Group's healthcare, consumer goods and agribusiness businesses.

Vietjet's July Double Day sale (7–9 July 2026) offers Sri Lankan travellers one-way Eco fares from USD90 on the new Colombo–Ho Chi Minh City route. The airline's inaugural Colombo–HCMC flight is set for 18 Aug 2026, operating three times weekly, with travel valid 15 Aug 2026–31 Mar 2027.

Roshane Perera, Deputy Managing Director – Energy of Hayleys Fentons (Hayleys PLC), won the Global CEO 45 Under 45 Leadership Excellence Platinum Award 2025. Since 2017 he grew Hayleys Solar to Rs.15bn revenue and ~800 staff, delivered 500+ MW rooftop capacity and a 300 MW utility-scale portfolio, and is on track for 750 MW by mid-2026.

L B Finance PLC (LFIN.N0000) completed a nationwide network infrastructure upgrade with Huawei to strengthen reliability, speed and security, enabling faster, more secure digital services and laying the groundwork for cloud and AI-driven tools.

Colombo Athletic Football Academy, the first Sri Lankan academy invited to the IBER Cup in Portugal, won two of four group matches to advance to the knockout stage in its debut but were eliminated in the knockout round.

Baby Cheramy won a court ruling affirming its exclusive ownership of the Baby Cheramy brand and intellectual property, finding that imitators such as 'Baby Sherami' violate its rights.

Prime Group was named 'Best of the Best Brand in the Real Estate Industry', 'Most Loved Corporate Brand' and 'Most Loved Service Brand' by LMD. The company says it has secured over 400 reservations for the Prime Marina project and is expanding digital sales and AI-powered customer engagement.

CFA Society Sri Lanka will hold the 13th Capital Market Awards on 10 September 2026 at the Oak Room, Cinnamon Grand, Colombo, to recognise excellence in equity research, investor relations and unit trust teams. The event emphasises upskilling on AI, ESG, sustainability reporting, digital finance and regulatory developments.

The National Chamber of Exporters opened applications for the 34th NCE Export Awards, closing Sept 30, 2026, with the awards ceremony on Dec 11 at Shangri‑La Colombo. Ex-Pack Corrugated Cartons PLC is the main sponsor and Dialog Enterprise is the event's digital technology partner.