News & market updates

Global GIS (Pvt) Ltd signed a Memorandum of Understanding with the University of Ruhuna to collaborate on R&D, product commercialization, consulting, training and to install a GNSS CORS station at the university. The agreement also includes funding support, internships and technology transfer to boost surveying and geospatial capacity.

Energy Minister Anura Karunathilaka said El Niño could reduce hydropower generation by about 127 GWh but is unlikely to cause major disruptions, with alternative generation sources available to ensure an uninterrupted power supply.

ADB announced a $4 billion financing package to help 15 countries, with Sri Lanka first to receive $100m, to mitigate economic fallout from the Middle East conflict. The package includes about $3bn in government-requested support and $1bn for trade finance, raising Sri Lanka's planned 2026 ADB budget support to $480m.

ADB is providing $4 billion in rapid financing — about $3 billion requested by governments and $1 billion in trade finance — to help countries, including Sri Lanka, withstand fallout from the Middle East conflict. Support includes policy-based loans, trade finance for energy and food imports, and rapid repurposing of existing funds.

ADB is deploying $4 billion to help countries including Sri Lanka manage impacts from the West Asia conflict, with about $3 billion requested by governments and $1 billion for trade finance for energy and food imports. Support includes policy-based loans, countercyclical financing, rapid repurposing of portfolios and emergency assistance.

Citizens Development Business Finance PLC (CDB) reported FY2025/26 Profit After Tax of Rs. 4.5 billion and total assets of Rs. 214.7 billion, surpassing the Rs. 200 billion milestone. Lending rose 53% to Rs. 169.2 billion, NPL ratio improved to 1.53%, the Board declared a Rs. 1.25 billion dividend and completed a one-for-ten share subdivision.

Disaster Management Centre warns Sri Lanka may need to purify and distribute seawater if a strong El Niño triggers prolonged drought, risking reservoirs, agriculture and hydropower output. Authorities are reviewing reservoir management, cultivation schedules and electricity generation contingency plans.

President Anura Kumara Dissanayake directed agencies to prepare contingency plans for an anticipated El Niño that could mirror 2016-17, citing risks to food security, water resources and electricity generation. Officials highlighted reservoir management and an earlier start to the 2026 Yala season as key measures.

SAARC CCI President Chandi Raj Dhakal met Yunnan Governor Wang Yubo in Kunming to push for expanded trade, investment and connectivity between South Asia and Yunnan, highlighting opportunities in infrastructure, tourism, logistics, digital industries, renewable energy, agriculture and manufacturing.

Deloitte Sri Lanka held a 27 May 2026 client session urging climate disclosure as a driver of business resilience and access to capital. Speakers covered operationalising SLFRS S1/S2, climate risk and scenario analysis, decarbonisation, assurance-ready data and sustainable finance.

Citizens Development Business Finance (CDB.N0000) reported FY2025/26 Profit After Tax of Rs. 4.5 billion and total assets of Rs. 214.7 billion, surpassing the Rs. 200 billion milestone. The board declared a Rs. 1.25 billion dividend, completed a one-for-ten share subdivision, saw lending rise 53% to Rs. 169.2 billion and NPLs fall to 1.53%.

The India–Sri Lanka Binational Bridge and Tunnel proposal — a ~23 km link estimated to cost US$3.6–5.19bn — could lift tourism by 50–70% and cut some transport costs by up to 50%, reshaping trade, logistics and connectivity. Sri Lanka has paused advancement over technical, environmental and sovereignty concerns.

BYD topped the Automotive INNOVATIONS Report 2026 as the most innovative automotive group with an innovation index score of 157, the first Chinese automaker to claim the top spot. The ranking cites BYD's in-house tech portfolio (batteries, motors, controllers, semiconductors), 55 innovations including 18 world premieres, and global NEV sales of over 4.6 million in 2025.

BYD topped CAM's Automotive INNOVATIONS Report 2026 as Most Innovative Automotive Group with an innovation index score of 157, the first Chinese automaker to claim the top spot. John Keells' JKCG Auto said it is proud to bring BYD's NEV technology to Sri Lanka as the group's official local partner.

Hayleys Solar (Hayleys Fentons) completed a 1.7MWp rooftop solar installation for GPV Lanka in Negombo, supplying part of the site's operational energy needs. The project supports GPV's energy-efficiency goals and Hayleys' renewable energy service activity.

Hayleys PLC secured a District Court of Kaduwela enjoining order preventing former MP Wimal Weerawansa from making or publishing defamatory statements about the company. Hayleys has sought Rs. 6 billion in cumulative damages; the matter is listed for hearing on 23 June 2026.

Frontier Research says Sri Lanka is better placed to absorb a potential El Niño due to stronger fiscal and external buffers, but warns of short-term pains. It cites an 80% chance of El Niño in June–August 2026 (over 90% through November) and warns disruptions to agriculture, energy and supply chains that could raise inflation.

The Sri Lanka–Thailand Business Council marks its 25th anniversary in 2026, holding a silver-jubilee event on 19 June at The Kingsbury Hotel with a 25-member Board of Trade Thailand delegation attending. The council highlights continued efforts to boost trade, investment and cooperation across tourism, logistics, healthcare, renewable energy and IT.

Sri Lanka operationalised the Central Bank's Green Finance Taxonomy with EU support and ran capacity-building sessions in May 2026 engaging over 200 stakeholders on reporting guidelines, screening tools and green product development. The CBSL Board has approved the rollout and will make materials publicly available.

Sri Lanka's BOI and Japanese partners held the 4th working-level Japan–Sri Lanka Committee on Business Environment on 2 June 2026 in Colombo to review and resolve investor concerns and strengthen FDI ties. The session stressed accountability and priorities such as technology transfer, green industry, manufacturing and tourism.

ADB President Masato Kanda said the Pan-Asia Power Grid Initiative will mobilize $50 billion by 2035, with ADB providing half, to connect regional power systems, add 20 GW of renewables and 22,000 circuit‑km of transmission, cutting emissions and creating jobs.

The Ceylon Chamber will hold the 26th Sri Lanka Economic and Investment Summit on 12–13 October, focused on economic growth, competitiveness, investment and structural reforms. Sessions will cover trade and regional integration, energy security, digital transformation and healthcare.

First Capital Holdings PLC secured multiple global and local sustainability affiliations in FY2025/26, including SSCI Certificate of Acceptance and becoming Sri Lanka’s first investment institution to join UNGC, WEP and PCAF. The firm also installed rooftop solar, advanced PCAF baseline work and progressed SLFRS S1/S2 readiness.

The Ceylon Chamber of Commerce will hold the 26th Sri Lanka Economic and Investment Summit on 12–13 October 2026. The Summit will focus on economic growth, investment, trade, fiscal and structural reforms, energy security and sustainability, healthcare, and digital transformation.

The Ceylon Chamber of Commerce will hold the 26th Sri Lanka Economic and Investment Summit on Oct 12-13 to focus on pressing national priorities including economic growth, investment, trade, fiscal and structural reforms, energy security, healthcare and digital transformation.

Sri Lanka said it will deepen cooperation with France and the EU as AFD marks 20 years in the country, seeking expanded collaboration on sustainable development including green energy, urban and water infrastructure, digital transformation and maritime cooperation.

Indian High Commissioner Santosh Jha visited an $11m India‑funded hybrid solar-wind-diesel-battery project (≈4.3 MW) on Delft, Analaitivu and Nainativu on 3 June to review progress delivering off‑grid power to the three islands.

Amana Takaful Life PLC appointed Pradeep Dilshan Rajeeva Hettiaratchi and Dev Nissanka Wijewardane as Independent Non-Executive Directors. Hettiaratchi brings 30+ years in finance and renewable energy experience; Wijewardane brings 20+ years in IT, digital transformation and enterprise governance.

Colombo International Container Terminals handled a 2,241-tonne Battery Energy Storage System shipment of 54 units for Sri Lanka’s largest energy storage programme, to be deployed across 16 substations to support grid stability and a 70% renewable target by 2030.

The Board of Investment extended the deadline for its green hydrogen and ammonia RFI to 19 June (from 5 June) to gather investor proposals. The RFI requests financial, technical, land, power and water details to assess feasibility of large-scale export-oriented green hydrogen projects and related infrastructure.