News & market updates

The Price Index for New Condominiums in Colombo rose 18.5% year-on-year to 284.4 in Q1 2026. Sales volume fell 15.2% YoY even as luxury unit market share (>Rs75m) jumped to 29% and completed-project inventory is nearly exhausted (98% sold).

JAT Holdings (JAT.N0000) has broken ground on the Rs. 4 billion JAT Astera Residencies in Thalawathugoda, a 12-storey project of 104 apartments and six penthouses, with piling work started by Sincon Piling.

Secondary bond market started the week slow with dull activity and yields broadly steady; key maturities traded around 11.25%–11.75%. Money-market liquidity surplus rose to Rs.132.29bn and USD/LKR appreciated to Rs.334.90/335.

CBSL extended the suspension of Perpetual Treasuries Ltd from carrying on primary dealer activities for a further six months effective 4:30 p.m. on 5 July 2026. The extension is to allow the CBSL to continue its investigations.

Colombo Stock Exchange midday: ASPI down 0.17% (37.22 pts) to 22,043.43 and S&P SL20 down 0.15% to 6,157.85. Capital goods led turnover (LKR 46.2m of LKR 216.8m); notable gainers HNB, RCL, SPEN, SDB, NHL and decliners GREG, MELS, JKH, CARS, LOLC.

Bybit EU secured full MiCAR authorization ahead of the July 1, 2026 transition deadline, while several major exchanges failed to obtain authorization and have restricted or exited EU markets, leaving an estimated 10 million users in transition. Bybit EU's authorization covers custody, exchange, transfer and placement of crypto assets.

Sanath Manatunge, MD/CEO of Commercial Bank, was appointed Chairman of the Employers' Federation of Ceylon at its 97th AGM, with Dinal Peiris of Lanka Aluminium Industries named Vice Chairman. The EFC said it will continue to support labour law reforms and responsible business initiatives.

EDB says the proposed 12.5% US tariff on imports from Sri Lanka is not new and relates to an ongoing reciprocal tariff process, and officials are seeking to avoid the levy by concluding a trade agreement. Sri Lanka must file an appeal by 9 July and the proposed tariff would take effect on 24 July unless amended.

The government has revoked the Gazette restriction banning the use of rice and paddy in animal feed, restoring permission for their processing, purchase, sale, transport, storage and distribution for feed production with effect after 24 June.

Sri Lanka's rupee was quoted at 334.65/75 to the US dollar in the spot market on Tuesday, slightly firmer from 334.90/335.00 the previous day; domestic government bond yields edged up. For example, the 01.08.2030 bond was quoted at 11.26/33% and the 15.10.2030 at 11.30/35%.

Asian stocks drifted lower despite Samsung Electronics forecasting a 19-fold jump in Q2 operating profit, as the yen hovered near 40-year lows, oil prices rose modestly and U.S. yields inched up amid geopolitical and Fed policy uncertainty.

Parliament's Committee on Public Finance questioned the Central Bank over whether FATF-driven AML/CFT legal reforms go beyond domestic needs; CBSL defended the measures as necessary and said stronger laws plus demonstrated enforcement are required to avoid costly grey-listing.

Frontier Research said easing Eurozone inflation and lower oil prices could narrow Sri Lanka's fuel import bill, ease inflationary pressures and reduce depreciation pressure on the rupee. It notes Eurozone headline inflation fell to 2.8% in June and markets expect the ECB to keep rates on hold, though risks from the Middle East and food prices remain.

The Securities and Exchange Commission has invited applications for licences to operate as credit rating agencies in Sri Lanka, with applications accepted until 5 October 2026. Applicants must meet eligibility and governance requirements and be promoted by a foreign CRA or a CBSL‑licensed bank with at least five years' rating experience; Sri Lanka currently has two SEC‑licensed CRAs.

June national sales average (NSA) for Sri Lankan tea fell to Rs. 1,153.49 (US$3.45), down Rs. 31.07 and $0.20 from May. The cumulative NSA for Jan–Jun 2026 was Rs. 1,162.09, a marginal Rs. 3.55 rise YoY, with High Grown teas recording the sharpest monthly decline.

SLT-MOBITEL powered the 'Sadaham Sabendiyava' Poson Poya event in Anuradhapura using its 5G network to deliver immersive experiences such as an illuminated Water Pandol and a 3D interactive tunnel. The initiative also included digital greetings and Data and Ice Cream Dansalas as community outreach.

Nestlé Lanka partnered with the Central Environmental Authority and the Ministry of Education to run an All Island Short Video Competition on responsible waste management, with winners awarded at an event on 25 June 2026.

Sampath Bank has launched Google Pay for all Visa and Mastercard credit and debit cardholders in Sri Lanka, enabling tap-to-pay and tokenized transactions on Android devices. Cardholders can digitise cards for in-store, in-app and online payments, enhancing mobile-first, contactless use.

CBL Group has appointed Group Managing Director Sheamalee (Shea) Wickramasingha as Chairman effective 6 July 2026; she will continue to serve as Group Managing Director.

Ceylinco Life has begun building its 36th company-owned eco-friendly branch in Kirindiwela, a 3,440 sq ft facility planned to run on 100% solar power. The branch will use local prefabricated technology and include rainwater harvesting and wastewater recycling facilities.

Sampath Bank PLC launched Google Pay for Mastercard and Visa credit and debit cardholders, enabling tap-to-pay on Android for in-store, in-app and online transactions. The service uses tokenization for security and supports global merchant acceptance without physical cards.

Janashakthi Limited director Manjula Mathews participated in AmCham Sri Lanka's 'Her Story, Her Voice' panel on women in family enterprises and leadership at Cinnamon Life Colombo. The event brought together senior leaders to discuss leadership, resilience, legacy and networking opportunities.

Maliban was ranked No. 1 Most Loved Product Brand and No. 1 in Packaged Foods (Ready-to-Eat) in the LMD Readers' Choice Most Loved Brands 2026, marking its third consecutive year as Sri Lanka's Most Loved Packaged Food (Ready-to-Eat) Brand.

HNB General Insurance was the only general insurer named among Sri Lanka's 50 Best Workplaces™ 2026, ranking 16th in the Large Sized Workplaces category. 95% of participating HNBGI employees rated the company's workplace culture extremely highly.

The Sri Lanka Export Development Board has kept online exhibitor registration for Sri Lanka Expo 2027 open until 31 July 2026. The expo will run 14–17 January 2027 at BMICH with 650 booths and opportunities to meet over 1,500 global buyers across 25 sectors.

Singer (SINS.N0000) has partnered with India's Stanley Lifestyles to open a Stanley Boutique Homes flagship showroom in Ward Place, Colombo, introducing Stanley's luxury furniture range to Sri Lanka and expanding Singer's premium retail offerings.

Pan Asia Banking Corporation PLC (PABC.N0000) won the Grand Prix and four Gold awards at the 15th ACEF Global Customer Engagement Awards 2026, recognised for digital onboarding, TV+digital campaign planning and the 'One Click Thousand Trees' sustainability initiative.

HNB Life PLC signed a Memorandum of Understanding with the Government Medical Officers' Association to offer GMOA members tailored life insurance solutions and exclusive benefits. The partnership aims to provide protection and long-term financial planning support for medical professionals.

L B Finance PLC (LFIN.N0000) topped K Seeds Investments' Category 1 ranking of finance companies for Q4 FY25/26 (Jan–Mar 2026), scoring highest across ten equally weighted KPIs. The firm achieved this position despite late-quarter oil-driven fuel-price shocks and rising inflation that pressured peers' margins and loan repayment capacity.

Colombo market opened deep in the red: ASPI fell 0.44% (98.08 pts) to 22,080.65 and the S&P SL20 dropped 0.44% as foreign investors were net sellers of Rs. 315.8m. Main negatives included Ceylinco, HNB, RIL and Central Finance; utilities (led by Windforce), capital goods and banking led turnover.