News & market updates

Colombo stocks fell with the ASPI down 0.28% at 15,555.86 as uncertainty over US tariffs and Fed interest-rate commentary hit exporters and banks; key decliners included John Keells, Hayleys, Teejay, Haycarb and major banks, with a net foreign outflow of Rs 64m.

Peradeniya Veterinary Teaching Hospital has formally adopted Dr. Paw, developed by Pet Care Solutions Lanka, as its official digital veterinary hospital management system, with the platform provided free of charge. The system, beta-tested at PVTH since 2023, offers EHR, appointment scheduling, telemedicine, vaccination tracking and analytics.

Suwa Diviya launched the "Ready to Live a Healthier Life" corporate wellness campaign, commencing with a wellness day at Sunshine Holdings that offered free health screenings, expert talks and healthy food experiences.

The Industry and Entrepreneurship Development Ministry launched a Q1 2025 industrial revival drive with a Rs.13 billion industrial budget, Rs.100 billion across ministries and a Rs.50 billion collateral-free SME loan scheme due in June. The plan includes SOE restructuring, VAT relief for pharma and dairy, export support and new industrial zones.

Royal Nursing Home Pvt. Ltd. won the Platinum Award for Best Healthcare Provider of the Year (Large-Scale) at the Business World International Awards 2024. The provider won four awards this year and operates luxury nursing centres in Sri Lanka and London with over 1,600 staff.

The Global Franchise Forum will hold its Sri Lanka edition on 27 April at the Sheraton Hotel Colombo, bringing top international brands, investors and entrepreneurs to explore franchise expansion in Sri Lanka. The event targets opportunities in hospitality, retail and healthcare and aims to connect franchisors with local partners to boost FDI and job creation.

Haleon Sri Lanka (Panadol) is launching the "Panadol Suwa Sahana Mehewara" to provide medicines, three air-conditioned mobile medical centres and over 325 trained first aiders daily for devotees at the Sacred Tooth Relic exposition in Kandy from 18 to 27 April.

The White House said China faces up to 245% tariffs on some exports to the US and has launched a Section 232 probe into critical mineral imports; the announcement cited items including syringes (up to 245% tariffs) and lithium-ion batteries (up to 175%).

Sri Lanka's Committee on Public Finance flagged confusion over the legal status of vapes and missed tax revenue, leaving vape products effectively unregulated. The article urges a clear regulatory framework to protect consumers and enable taxation of smokeless nicotine products.

Sri Lanka is considering energy imports and tariff reforms to address a 44% tariff imposed by US President Donald Trump, Deputy Economic Minister Anil Jayantha said. Virtual meetings with US officials have taken place and the Treasury has submitted documents to the USTR and White House as talks continue on sending a negotiation mission.

Hemas Hospital Wattala opened a new Catheterization Lab backed by a LKR 1 billion investment to provide advanced cardiac diagnostics and interventions, targeting a 60-minute door-to-balloon time. The facility uses Philips Azurion 7 technology to improve precision and reduce radiation exposure.

ASPI fell 1.7% to 14,876 with the S&P SL20 down 2.4%; turnover was Rs.3 billion and there was a Rs.1 billion net foreign inflow led by John Keells (Rs.665m). Banking names (Sampath, Commercial Bank, Hatton) and Hayleys were among the main laggards while capital goods drove turnover.

Asiri Hospital Holdings' Asiri Central Heart Centre launched a paediatric cardiothoracic surgery programme and performed its first atrial septal defect surgery on 25 January, funded under the government's Suraksha Student Insurance Scheme.

Fitch says US tariffs raising the effective tariff rate to about 25% (notionally ~$800bn, 2.5% of GDP) will help narrow the 2025 budget deficit but raise recession risks and constrain the Federal Reserve's ability to cut interest rates.

The United States will impose 104% duties on imports from China, prompting a global market sell-off and driving the S&P 500 below 5,000. Tariffs also target pharmaceuticals and consumer goods, raising costs and disrupting exporters, retailers and manufacturers.

Hemas Holdings (HHL.N0000) has appointed Dr. Mahesha Ranasoma as Managing Director of Hemas Pharmaceuticals and Hemas Surgicals & Diagnostics. He brings over 25 years of cross-sector leadership experience, including roles at Dipped Products PLC and Shell.

Technomedics International appointed Leshani Samaradiwakara as Executive Director effective 2 April 2025. She was previously Business Unit Head and brings experience in entrepreneurship, innovation management and strategic leadership.

Hemas Holdings appointed Dr. Mahesha Ranasoma as Managing Director of Hemas Pharmaceuticals and Hemas Surgicals & Diagnostics, effective April 2, 2025. He joins with over 25 years of cross-sector leadership experience to lead the businesses and strengthen healthcare partnerships.

McLarens group hosted the 3M-McLarens Occupational Health and Safety Symposium 2025, drawing 300+ participants from 100+ companies and introducing holographic stickers on 3M personal safety products to help distinguish genuine items from counterfeits.

Sri Lanka will submit proposals to the US Trade Representative on Tuesday to seek reduction of a 44% tariff by cutting the bilateral trade deficit and changing the import duty structure, a deputy minister said. A government committee is preparing proposals after virtual meetings with USTR officials; pharmaceutical tariffs are already zero.

Sri Lanka, India and the UAE signed an MoU to develop Trincomalee as an energy hub, including an HVDC interconnection for power import/export and plans for a multi-product fuel pipeline and possible refinery. Separate MoUs cover digital cooperation and health/pharma collaboration.

Indian PM Narendra Modi arrives in Sri Lanka for a three-day state visit to sign MoUs covering energy, digitalisation, security, healthcare and debt-restructuring assistance; he will inaugurate India-supported projects including the Sampur Solar Power Plant, a 5,000‑ton cold storage in Dambulla and railway upgrades.

India and Sri Lanka will sign multiple bilateral agreements during PM Modi’s visit, including an updated defence pact and projects in energy (Sampur Solar Power), healthcare, the digital economy, Dambulla cold storage, new roads and a modern railway signal system.

The Cabinet approved four healthcare procurements totaling Rs.5,514 million to supply state hospitals. Contracts include 340,000 bottles of 20% human albumin (Rs.2,805m to Reliance Life Science, India), 1,000,000 vials colistimethate sodium (Rs.218m), 30m metres surgical gauze (Rs.2,069m) and 18,000 trastuzumab vials (Rs.422m).

Nawaloka Hospitals PLC (NHL.N0000) has installed South Asia's first AI-driven Canon Vantage Orian MRI, supplied by MEDIQUIPMENT in a USD 4.5 million investment to boost diagnostic precision and reduce scan times.

Fadna Arunella held its 50th health camp at Sri Devram Maha Viharaya, Pannipitiya, providing free health services, screenings and medical consultations. Durdans Private Hospital co‑sponsored the event and organisers included the Devaram Vehera Bodu Maga; Fadna plans more camps.

A 7.7-magnitude earthquake struck central Myanmar and was felt across Thailand, killing about 144 people in Myanmar and 3 in Thailand, injuring hundreds and flattening buildings including a 30-storey construction in Bangkok; Myanmar declared states of emergency and appealed for aid.

Link Sudantha hosted a flagship World Oral Health Day 2025 event at Ruwanpura National College of Education with over 400 participants and an onsite mobile dental clinic. The event included expert-led sessions and the brand said it has provided dental services to over 10,800 people and educated 120,000+ nationwide.

Sri Lanka's National Medicine Regulatory Authority will seek court approval for a price formula covering a large number of drugs, Health Minister Nalinda Jayatissa said. Pharmaceutical companies had challenged earlier planned controls, and the move is linked in the article to rupee depreciation and monetary policy concerns.

Durdans Hospital has opened a new state-of-the-art Urology Clinic with five consultant rooms, a procedure room and modern diagnostics; clinic charges are waived until May 31, 2025 to improve access to specialised urological care.