News & market updates

hSenid Business Solutions PLC reported Q1 FY2027 revenue of LKR 602.8 million (up 28% YoY) and a net profit of LKR 51.0 million, with recurring revenues at 75% and exit ARR of USD 5.7 million (up 26%). EBITDA excluding forex gains was LKR 81.4 million and management highlighted continued SaaS and AI-led growth execution.

Government warns AI is changing the economics of Sri Lanka's software exports and urged the industry to shift from selling engineering hours to products, intellectual property and higher-value services to meet a $5 billion digital export target by 2030, following a validation workshop on a proposed roadmap.

Sunshine Holdings PLC has launched a Group-wide data, digital and AI transformation called 'Reimagining the Future: Sunshine's Digital Evolution Journey' to become more data-driven and AI-ready. The programme will partner with Beyond: Putting Data to Work for organisational readiness and Ernst & Young Sri Lanka for enterprise technology and ERP design.

SLT‑MOBITEL's innovation arm The Embryo's SenseGrid was named National 1st Runner‑up in the Best Innovative Product in Manufacturing category at the SLASSCOM National Ingenuity Awards 2026. SenseGrid is an Industrial IoT solution offering sensor-based monitoring, real-time visibility and AI analytics and is deployed with partners such as DHL and DSI.

UNDP Assistant Secretary-General Kanni Wignaraja met Deputy Minister of Finance and Planning Dr. Anil Jayantha Fernando, commending the government's progress in stabilizing Sri Lanka's economy and reaffirming UNDP's commitment to continue partnership and support for the government's economic digitalization programme.

Roar Global was named an OpenAI Select Partner, joining the OpenAI Partner Network to build, sell and deliver AI solutions and expand its OpenAI-related offerings and enterprise AI integration across the Asia‑Pacific region.

EDB Chairman Mangala Wijesinghe said Sri Lanka generated nearly $9bn in exports in H1 2026, targets $19bn for 2026 and $36bn by 2030 under the National Export Development Plan, promoting sectors such as electronics, F&B, IT and logistics and announcing Sri Lanka Expo 2027 (Jan 14-17).

The Ministry of Digital Economy and GovTech held a national workshop on 31 July to review and build stakeholder consensus on a strategic roadmap to boost Sri Lanka's digital export earnings to US$5 billion by 2030. The roadmap, developed with KPMG and World Bank support, will be refined with industry feedback and include priority actions and timelines.

The Government will start a Paperless Customs Declaration Processing System from 1 Oct, integrating LankaSign digital signatures with ASYCUDA to allow electronic submission of Customs documentation. Customs also exceeded its July revenue target, collecting Rs. 227.6 billion in the first 27 days.

Sunshine Holdings PLC launched a Group-wide data, digital and AI transformation called 'Reimagining the Future: Sunshine's Digital Evolution Journey' to become data-driven and AI-ready. The group appointed Beyond: Putting Data to Work for organisational readiness and Ernst & Young Sri Lanka for enterprise technology and ERP design.

Morocco's inwi and Huawei have commercially deployed a dual-band 1.8/2.1 GHz 8T8R antenna solution along major high-speed rail and highway routes, delivering a 13 dB coverage gain, nearly 1 km extra reach, 83% higher average downlink throughput, 3.2× more active users and 30% larger single-site coverage.

SLIIT's International Conference on Advancements in Computing (ICAC) has been upgraded to a fully IEEE-sponsored international conference and will be held as the IEEE International Conference on Advancements in Computing on 9-10 December 2026 at SLIIT, Malabe.

Sampath Bank PLC held its fifth SME Business Circle in Jaffna, bringing SME entrepreneurs, partners and bank leaders together to discuss growth, resilience and access to innovative banking solutions. The bank highlighted its end-to-end AI capability for SME banking and hosted sessions on sustainability, market outlook and partner technology demonstrations.

ASUS launched the AI-powered ExpertBook Ultra in Sri Lanka and expanded its ExpertBook B and P series for enterprise customers. The Copilot+ PC line features up to Intel Core Ultra Series 3 processors, a 50 TOPS NPU, enterprise-grade security and local commercial support.

Nutanix hosted its Lanka Tech Summit 2026 in Sri Lanka to showcase enterprise cloud, application modernization and digital infrastructure, outline its go-to-market strategy for the local market and reaffirm support for Sri Lanka’s US$15bn digital-economy target by 2030.

Sri Lanka's top 100 brands rose 17% to a combined Rs652bn, surpassing the 2019 peak of Rs630bn, says Brand Finance's Sri Lanka 100 2026 report. Banking accounted for 42% (Rs275bn) of the total; BOC remained most valuable while Commercial Bank, Sampath, Nations Trust, Dialog, Keells and PickMe all saw brand value gains.

Sampath Bank hosted an SME Business Circle in Jaffna to engage SME customers and promote long-term business success through knowledge sharing, access to innovative banking and digital solutions, and sessions on sustainability and market outlook.

The Digital Economy Ministry and SLT‑MOBITEL opened applications for the National AI Awards 2026 (AI Amplified); entries close 15 Aug and the awards will be presented on 4 Oct to recognise AI achievements across industry, academia, startups and the public sector.

Sri Lanka is accelerating intellectual property reforms, digitisation and enforcement to boost US trade and investment. NIPO says historical records have been digitised and aims to reduce patent registration times to around eight months by mid-2027.

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 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 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.

Dialog Axiata has partnered with PickMe to integrate PickMe into the Dialog Pay merchant ecosystem, enabling LankaQR payments for rides, deliveries and trucks (food/market QR up to Rs.2,500) and offering complimentary Dialog data on eligible transactions.

Sri Lanka's Cabinet approved designating the Securities and Exchange Commission (SEC) as the official regulator for virtual assets and Virtual Asset Service Providers (VASPs). The SEC, alongside the Central Bank's FIU and the Inland Revenue Department, will enforce AML/CFT, mandatory transaction reporting and VASP registration to bring offshore and P2P crypto trading under formal oversight.

FinTech Forum Sri Lanka board director Dhanika Perera urged building a stronger fintech ecosystem to drive the digital economy, calling for industry-wide collaboration on regulation, interoperability, financial inclusion and accelerated digital payment adoption.

TECNO launched the CAMON 50 Pro in Sri Lanka, priced at LKR 159,999, featuring AI 60X Super Zoom, SuperZoom FlashSnap, a 50MP Sony Ultra Night Camera, IP68/IP69K water resistance, 6.78" AMOLED display and a 6500mAh battery.

3Rive Technologies has become an official partner in Anthropic's Claude Partner Network, embedding Claude across its engineering, delivery and back-office functions. Headquartered in Australia with an AI development centre in Sri Lanka, it will host public Claude workshops in Colombo to grow the local builder ecosystem.

Intex-InMac Sri Lanka 2026 will run at BMICH, Colombo from 5-7 August 2026, featuring 250+ exhibitors and an InMac technology showcase of garment machinery, AI-enabled systems and factory automation to drive textile sourcing, exports and manufacturing productivity.

Imperial College of Business Studies (ICBS) hosted the Imperial College Academic Summit 2026, focusing on emerging trends in higher education such as artificial intelligence, digital transformation, industry integration and international partnerships. Speakers emphasised investment in academic quality, new programmes and graduate employability.