News & market updates

FACETS Sri Lanka 2025, a three-day international gem and jewellery exhibition, opened Jan 4 in Colombo to showcase Sri Lankan gemstones and connect local exporters with global buyers to help drive exports toward a USD 1 billion target. The event hosts international delegations and industry forums, drawing visitors and demand for Colombo hospitality services.

The 31st FACETS Gem & Jewellery Show will run 4–6 Jan 2025 at Cinnamon Grand, Colombo, drawing international traders and organisers aiming to help the gem sector reach $1bn in exports; the event is expected to boost tourism and hotel activity in Colombo.

FACETS 2025, the 31st Gem & Jewellery Show, will run 4–6 Jan 2025 at the Cinnamon Grand Colombo and is expected to attract international buyers and visitors, likely boosting hotel demand in Colombo and other tourist areas.

Gem Sri Lanka 2025 will run 7–10 January at Cinnamon Bentota Beach to connect international buyers with Sri Lankan gem traders and boost the gem and tourism sectors. Organisers also unveiled the GSLFAIR app to streamline buyer-seller connections.

Sri Lanka hosted a national pavilion at the World Trade Expo 2024 in Mumbai to promote trade and tourism, where companies showcased value-added cinnamon, coconut, cocoa products, dehydrated fruits and Ceylon tea and established business contacts for future collaboration.

SLITHM and SLCB Chairman Dheera Hettiarachchi criticised holding World Tourism Day 2024 nearly a month late and urged future celebrations be timely, more inclusive and held across different destinations rather than only in Colombo. He said future events should align with the government's people, planet and profit policy.

John Keells Group launched Cinnamon Life at City of Dreams Sri Lanka, a $1.2bn development opening today with 687 rooms and event venues, and a 113-key Nuwa hotel due mid-2025. The Group expects the full project to generate over 20,000 direct and indirect jobs.

Colombo market closed modestly higher with the ASPI up 4 points to 10,575 and turnover of Rs.1.03 billion. Banking stocks made up 54% of turnover while Royal Ceramics, NDB and Asian Hotels & Properties led gains and Commercial Bank, Nations Trust Bank and Sierra Cables fell.

Race Across Sri Lanka concluded on 24–25 Aug with 50 cyclists completing a 333 km Colombo-to-Arugam Bay route that showcased Ella and Arugam Bay as tourist destinations. The event included international riders and named John Keells CG Auto Ltd as Green Auto Partner.

President Ranil Wickremesinghe pledged Sri Lanka will pursue the SDGs and reach net zero emissions by 2040, highlighting renewables, agribusiness transformation and sustainable tourism as key measures. He also announced plans for an International Climate Change University, four technical universities and efforts to attract global finance.