News & market updates

Atlas PlayPalz, an activity-based learning brand of Atlas Axillia Co. (Pvt) Ltd., partnered with the Ministry of Women and Child Affairs for Sri Lanka's ECD Week 2026, engaging over 1,000 participants across three events and launching new modular activity kits to support early childhood learning.

Diesel & Motor Engineering PLC (DIMO) is installing international-standard LED floodlighting across four key hard courts, including the centre court, in partnership with the Sri Lanka Tennis Association and SLTPL; installation is underway and expected to be completed in the coming weeks with a nighttime unveiling.

Mahindra by Evolution Auto showcased its electric vehicle lineup (Treo Plus, Zor, ZEO) at the Colombo EV Motor Show 2026, drawing strong interest from passenger operators, delivery firms and fleet owners. The event highlighted running-cost savings, charging convenience and commercial suitability to boost EV adoption in Sri Lanka.

Vito Wood Fired Pizza opened its sixth outlet at The Shoppes at City of Dreams Sri Lanka, expanding the restaurant chain that began in Kandy in 2017 to locations in Kandy, Colombo, Peradeniya, Negombo and Galle.

Professor Martin Green OBE, Chief Executive of Care England, commended Sri Lanka's International Institute of Health Sciences (IIHS) for developing a globally ready health and social care workforce, highlighting its combination of academic excellence, practical clinical training and alignment with UK care standards.

The Shoppes at City of Dreams Sri Lanka announced Scope Cinemas, a five‑screen multiplex with two VIP halls, will open on Level 10 before end‑2026 as a flagship anchor for the destination, expanding its retail, dining and entertainment offerings.

INSEE Lanka won top honours at the Sri Lankan Sustainability Awards 2026, including 'Sustainable Organization of the Year' and 'Sustainable Cement Brand of the Year' for a second consecutive year. The company also received 'Sustainable Technology Provider' for its Mass Pouring Solution and 'Sustainable Green Material Innovation' for INSEE Micro Concrete.

Allianz Lanka expanded its islandwide road-safety awareness campaign to Kurunegala and Kuliyapitiya, placing road-safety messaging on more than 6,000 three-wheelers nationwide and providing participating drivers with a one-year complimentary accidental death cover.

Siddhalepa's Ayurveda product range won the 'Excellence in Herbal Wellness & Functional Nutrition in Sri Lanka' award and Siddhalepa Ayurveda Health Resort was named 'Holistic Health & Wellness Service Provider of the Year' at the GlobalHealth Sri Lanka Awards gala in Colombo on 21 July 2026.

Smart Quest has launched Smart Quest Coaching and Consulting (Pvt) Ltd Maldives, its first overseas operation, offering leadership training, professional coaching certification and HR consultancy as it marks 20 years in business and expands across South Asia.

EDB's National Packaging Centre and the Export Agriculture Division ran a workshop on 22 July 2026 for nearly 100 participants on cinnamon packaging and compliance with the EU Packaging and Packaging Waste Regulation (PPWR), fully enforced from 12 Aug 2026. Presenters urged exporters to eliminate PFAS and heavy metals, prepare EU Declarations of Conformity, ensure operator identification and register under EPR schemes.

John Keells Holdings (JKH.N0000) will open the first Wendy's restaurant in Sri Lanka by December 2026, re-entering the organised quick-service-restaurant market via wholly owned John Keells Restaurants Ltd. and planning a phased rollout; the initial equity outlay is described as not material.

COYLE and the Indian Chamber of Commerce (Tamil Nadu) signed a Memorandum of Understanding in Colombo to formalise a strategic partnership to expand bilateral trade, investment and business collaboration. The MoU creates a framework for trade promotion, investment facilitation, business matchmaking and knowledge exchange under the India-Sri Lanka Bilateral Trade Delegation.

Colombo bourse traded mixed midday with the ASPI down 0.12% to 21,203.70 and market turnover at Rs200.5mn, led by capital goods (Rs58.5mn). Commercial Bank said its Basel III subordinated debentures will be listed on July 30, 2026; JAT Holdings declared a final dividend of Rs0.72 (ex-div Aug 7, 2026).

The UK has launched 'Resilient Waves', a £2.34m DEFRA-funded project to strengthen climate resilience of coastal fishing communities in Batticaloa and Mullaitivu through March 2029. Implemented by Acted and partners, it will restore mangroves and coral reefs, promote aquaculture and livelihood diversification, strengthen fisher governance and boost women's economic participation; the project was one of four chosen from over 370 global applications.

Sarvodaya Development Finance PLC held Achievers' Night 2026 on 11 July to recognise staff and branch performance for FY2025/26; 75 employees received cash awards and 29 top performers were awarded overseas tours. Awards spanned 10 categories and five upcoming branches were recognised.

Sanasa Development Bank (SDB) opened a new Business Centre at 167 Union Place, Colombo 02 to expand its corporate, business and mass-affluent banking services. The centre will offer tailored lending and deposit facilities, dedicated relationship management, money-market solutions and digital banking packages.

Asia FinTech Network will host Asia FinTech Week 2026 in Colombo from 14-18 Sept 2026, a five-day regional fintech conference expected to attract 800+ delegates from 25+ countries to discuss AI, CBDCs, digital payments, blockchain and investment opportunities.

The Association of Professional Bankers (APB) Sri Lanka hosted its first 2026 technical session on 'Building Trust in a Digital Era: Safeguarding the Banking System from Fraud,' featuring HSBC's Levent Kutluca who urged an ecosystem approach and balancing security with user experience.

Sri Lanka Customs exceeded its July revenue target for a seventh straight month, collecting 227.6 billion rupees in the first 27 days against a 192.4 billion rupee target. Officials said stronger enforcement, improved valuation and a rebound in import volumes, aided by eased import controls and reserve stabilization, drove collections.

The Cabinet approved steps to introduce legislation to regulate virtual asset service providers, recommending the SEC as the regulator working within a supervisory structure coordinated by the CBSL, FIU and IRD and establishing a ministerial sub‑committee to carry the work forward.

Digital Mobility Solutions Lanka PLC (PickMe) reported Q1 FY2026/27 revenue of Rs. 2.5bn (+40% YoY) and net profit of Rs. 631m (+45% YoY). The company said it generated Rs. 22bn in income for its driver and merchant network and GTV rose 48% to Rs. 25.3bn despite temporary fuel supply disruptions.

The Cabinet approved leasing five Presidential Residences in Bentota, Kataragama, Mahiyanganaya, Embilipitiya and Anuradhapura to private investors on a long-term basis for tourism development. The move aims to reduce state maintenance costs for underutilised properties while generating tourism investment and economic activity.

The Cabinet approved land allocation to 23 investors across 13 regional industrial estates on 35-year leases for projects totaling over Rs. 2.8 billion, expected to create 870 direct jobs. The moves are part of the Industry and Entrepreneurship Development Ministry's regional industrial estate development programme to build infrastructure and promote balanced industrialisation.

Cabinet approved commencing the procurement process to award about Rs. 15 billion of contracts for Phase I of the Ruwanpura Expressway, with contracts expected to be awarded in 2026 using approved 2026 budget allocations. Phase I covers Kahathuduwa to Ingiriya and includes a Kahathuduwa System Interchange linking to the Southern Expressway.

Oil and Natural Gas Corporation (ONGC) has begun drilling India's first deepwater exploratory well, MN-DW18-1-H-D, in the Mahanadi offshore basin about 23 nautical miles from its Konark discovery, part of the DeepX/Samudra Manthan campaign to boost domestic hydrocarbon production and reduce import dependence.

Australian Special Envoy for Indian Ocean Affairs Tim Watts arrived in Sri Lanka to engage with government, political, business and development leaders on deepening economic, diplomatic and development cooperation and strengthening regional resilience and connectivity.

Congresswoman Chrissy Houlahan led a U.S. Congressional delegation to Sri Lanka from July 27-30 to strengthen bilateral ties and discuss defence and security cooperation, countering transnational crime, and deepening commercial and economic relations.

The Colombo market extended its recovery into a second session as the ASPI rose 0.20% to 21,229.14, with turnover above Rs. 2 billion and foreign investors net sellers of over Rs. 1 billion. Top contributors to the rise were Colombo Dockyard, John Keells Holdings, Commercial Bank, ACL Cables and NDB Bank.

The Canadian Chamber of Commerce in Sri Lanka held a "Canada Day Dialogue" to map new pathways for bilateral trade, investment and tourism, noting Canada's CAD 500 billion Indo‑Pacific commitment could create opportunities across energy, technology, manufacturing and tourism. Panelists said Sri Lanka could target roughly $2.4bn in two‑way trade and attract up to about $400m in Canadian investment if structural bottlenecks are removed.