News & market updates

A CEAT delegation led by MD Arnab Banerjee met EDB Chairman Mangala Wijesinghe to discuss expanding CEAT's presence and diversifying its rubber product portfolio in Sri Lanka, noting the CAMSO brand is produced locally and highlighting broader investment opportunities.

Thai Ambassador Paitoon Mahapannaporn urged greater diversification of Sri Lanka’s export base to benefit from the Sri Lanka–Thailand FTA, which will cut tariffs on 85% of products and is projected to lift bilateral trade to over $300m when it takes effect in 2025. He highlighted opportunities in electrical machinery, clean tech, agro-processing, smart electronics, automotive, medical/wellness and digital sectors and announced a Feb 2025 business programme on food, agriculture and health.

Silk Route Ventures opened Nutra Studios, its second retail outlet, at Level 1, Kandy City Center, combining Ancient Nutra and Plant-Based Studios. The company cites international production certifications (EU/USDA Organic, GMP, HACCP, ISO/FSSC) and a '2% for the Future' sales donation initiative.

Cabinet approved an MoU with India to fund 33 development projects in Eastern Province with a total allocation of Rs. 2,371 million. Allocations include Rs. 315m for education, Rs. 780m for healthcare, Rs. 620m for agriculture and Rs. 230m for fisheries.

The Public Health Inspectors Association has established 200 cigarette-free zones across Sri Lanka that prohibit the sale and smoking of cigarettes. Notices have been placed and clergy, volunteers, NGOs and schools are supporting the initiative, which the Association plans to expand.

Align Dental Care has become Southeast Asia’s first certified Digital Smile Design (DSD) clinic, using digital imaging and 3D modelling to deliver bespoke smile rehabilitation. The clinic says it aims to be the region’s premier smile rehabilitation provider by 2028.

Align Dental Care says it is Southeast Asia’s first certified Digital Smile Design (DSD) clinic, using digital imaging and 3D modeling to plan and visualise patients' smiles for improved aesthetics and oral-health outcomes.

Hemas Hospitals marked the first anniversary of Project Upakara, which has delivered 118 cycles of free dialysis to low-income CKD patients.

IIHS launched several new UGC-recognised degree programmes for nurses, midwives and other health professionals. The courses, offered in collaboration with Asia e University and delivered via an award-winning LMS, aim to upskill staff and address shortages in the healthcare workforce.

Lanka Hospitals Corporation PLC appointed Dr. M. Nilupul Perera, a consultant neuro physician with over 18 years of clinical and international experience, as its new Chairman.

Bill and Melinda Gates Foundation committed to expand support to Sri Lanka, offering financial and technical assistance for nutrition and school meal programs, agriculture modernisation, digitalisation, and livestock development. The pledge was affirmed at a meeting at the Presidential Secretariat with government ministers and foundation officials.

Sri Lanka's High Commissioner in Bangladesh, Dharmapala Weerakkody, held talks on 9 Dec with EPB Vice Chairman Anwar Hossain to boost bilateral trade, highlighting apparel (32% of Sri Lanka's 2023 exports), Sri Lankan firms in Bangladesh and investment opportunities in the Eravur textile zone. Both sides agreed to implement/expand MoUs, consider exhibitions, and pursue cooperation in coconut products, tourism and healthcare.

Sri Lanka’s High Commissioner and Bangladesh’s EPB Vice Chairman met to boost bilateral trade, highlighting apparel/textiles (32% of Sri Lanka’s exports), investment in the Eravur Textile Zone, and cooperation in tourism, healthcare and coconut products.

OMED Pharmaceuticals has been appointed the exclusive agent for mesoestetic® in Sri Lanka and hosted a client event on 23 November 2024 to introduce its advanced dermatological skincare products. The partnership will target pigmentation, sun damage and acne, expand e-commerce and distribution through dermatologists, clinics and pharmacies, and include training programs.

Sanjeewanie Ayurveda opened Luxyana Wellness at L17, Crescat Boulevard, Colombo, offering discounted launch treatments, free consultations and a VIP membership with priority bookings, private yoga sessions and special event access.

Suwa Diviya’s 'Live Well Health Fair' concluded on 30 Nov at Arcade Independence Square, offering free medical screenings and wellness sessions and featuring participation from health-related brands including Nawaloka Hospitals, Asiri Hospitals and CIC.

Medihelp Hospitals has acquired Revival Physiotherapy and Pain Management Centers, expanding its primary healthcare network and adding clinics in Colombo 05, Nawala and Kandy. Revival, founded in 2009, is described as Sri Lanka's largest physiotherapy chain, enhancing Medihelp's service offerings in physiotherapy and pain management.

Sri Lanka's Ambassador Wijayanthi Edirisinghe met Bangkok Governor Chadchart Sittipunt to deepen bilateral collaboration, proposing adoption of Thailand's Traffy Fondue urban-management tool and a Colombo–Bangkok sister-city partnership. They agreed to explore knowledge-sharing on urban sustainability, cultural exchanges and joint Vesak 2025 events.

The Computer Society of Sri Lanka launched a Society 5.0 vision at NITC 2024 to integrate AI, IoT, robotics and big data for inclusive digital transformation; speakers called for policy support, skills development and a Digital Economic Authority to boost infrastructure, healthcare, tourism, manufacturing and MSMEs.

President Anura Kumara Dissanayake met World Bank Executive Director Parameswaran Iyer and was told all ongoing World Bank-backed projects in Sri Lanka will continue uninterrupted. They discussed government priorities including agriculture, fisheries, tourism, education, health, the Clean Sri Lanka programme, digital ID plans and land/housing for plantation communities.

World Bank pledged support for Sri Lanka's "Clean Sri Lanka" programme and said all ongoing World Bank-supported projects will continue uninterrupted. Discussions covered rural poverty, a Digital Identity Card, land and housing in the North and East (plantation community), and priorities including agriculture, fisheries, tourism, education and health, with the WB offering to convene an advisory group.

Aitken Spence won the Ceylon Chamber Best Corporate Citizen Sustainability Award 2024. Shortlist firms recognised included Talawakelle Tea Estates (Category B winner), Sampath Bank (runner-up and finance sector champion) and other shortlist companies such as Dilmah, Haycarb, Kelani Valley, Elpitiya, Jetwing Symphony, Hemas, Singer and Ceylon Tobacco.

Aitken Spence won the Grand Slam Award at the 21st Best Corporate Citizen Sustainability Awards 2024. Shortlisted companies receiving awards included Sampath Bank, Talawakelle Tea Estates, Kelani Valley and Elpitiya Plantations, Jetwing Symphony, Haycarb, Dilmah, Hemas, Singer and Ceylon Tobacco.

Aitken Spence PLC won the Grand Slam Award at the 21st Best Corporate Citizen Sustainability Awards 2024 after claiming the Best Corporate Citizen Sustainability Award 2024. Multiple other listed firms (including Sampath Bank, Talawakelle, Kelani Valley, Dilmah, Haycarb and others) were also recognised across categories.

Asiri Hospital Holdings' Asiri Academy and ESOFT Metro Campus signed an MoU to offer London Metropolitan University–affiliated Nursing programs (a 1-year Nursing Top-Up and a 3-year honours degree) and an MBA in Health Administration (awaiting approval) in Sri Lanka.