News & market updates

Government declared Wednesdays a weekly holiday for public sector employees effective tomorrow (18) to reduce fuel consumption; essential services (healthcare, ports, water, customs) are exempt and four committees will oversee energy and key sectors. Private sector asked to follow where feasible and state events suspended.

President Anura Kumara Dissanayake said the government will implement energy-management measures, including a QR system for daily fuel allocations, to ensure uninterrupted economic activity and essential services amid disruptions from the Middle East conflict; a committee was tasked to report required fuel allocations by end of today.

Vision Care will be the Official Eyewear Partner for Colombo Fashion Week Summer Edition 2026 for the 13th consecutive year, spotlighting Persol and Michael Kors and offering its luxury eyewear range at the event from 1–4 April at City of Dreams.

Ceylon Chamber urged the Government to adopt measures to safeguard economic stability, prioritising continuation of the IMF programme and timely tranches. It recommended fuel measures (dynamic pricing, QR system, faster procurement), securing fertilizer and aviation fuel, prioritising FX for critical imports, and bolstering tourism, exporters and port clearance.

President Anura Kumara Dissanayake met with ministry secretaries to plan maintenance of essential services amid the Middle East conflict, instructing exploration of regional fuel reserves for critical sectors, a feasibility study on remote working, and prompt fixes/streamlining of the digital QR code system.

HNB PLC hosted an International Women’s Day event on 6 March with 300+ women entrepreneurs to promote women-led enterprises and its HNB Women Banking proposition. The programme highlighted MSME support, financial inclusion, digital tools and market-access initiatives in partnership with institutions including Asiri.

Power World Gyms has partnered with Kings Hospital Colombo as its Official Wellness Partner to introduce a dedicated wellness programme for hospital staff, supporting their physical and mental well-being.

ADB President Masato Kanda commended Sri Lanka’s efforts to stabilise the economy and met Prime Minister Dr. Harini Amarasuriya to reaffirm development cooperation. They reviewed progress of ADB-funded projects and discussed strengthening collaboration in health, education and social development.

The Association of Private Hospitals and Nursing Homes held its 1st Healthcare Leadership Summit on 9 March 2026 to develop a trackable set of implementable priorities for Sri Lanka's private healthcare sector. Attendees included hospital leaders, regulators, insurers and international experts.

HerProgress.OurProsperity, a national women-led movement, was launched on March 8, 2026, with seven priority pillars addressing safety, legal recourse, women’s health (including period poverty), digital protection and economic empowerment to drive grassroots change across Sri Lanka.

The Sri Lanka Export Development Board has opened applications for Sri Lanka Expo 2026 (18–21 June at BMICH), offering 650 booths and opportunities to meet over 1,500 global buyers; applications close 31 March 2026. Sectors covered include industrial and agro-industrial products and services such as ICT, tourism, renewable energy and healthcare.

Sri Lanka Export Development Board has opened applications for Sri Lanka Expo 2026, a four-day international trade exhibition from 18–21 June 2026 at BMICH offering 650 booths and access to over 1,500 global buyers; application deadline is 31 March 2026.

Sri Lankan AI-powered cardiovascular screening device JENDO was piloted at King Hamad American Mission Hospital in Bahrain from 23–25 February to evaluate usability and clinical integration. The pilot was facilitated by the Sri Lankan Embassy and ICTA and follows national recognition including a 2025 Presidential Gold Award.

Government unveiled structural reforms at the AmCham CEO Forum aiming for 7% annual growth and a LKR 200 billion economy, including a 70% renewable-energy target by 2030, bank consolidation, port upgrades and support for IT, pharma and SME finance (LKR 300m ITIA allocation).

Sri Lanka's 60+ population is over 18% and could reach 25% by 2041, creating opportunity for a 'Silver Economy' if jobs, savings and care services expand. Low labour participation, limited pensions and a projected 149,076 care-worker shortfall by 2037 require policies on retirement, pensions, insurance and scaled elder-care.

The LMD-PEPPERCUBE Business Confidence Index fell 11 points to 171 in February (from 182), signalling a renewed decline in corporate optimism. The slide follows Cyclone Ditwah disruptions and comes amid improved CPI rankings, rising daily cancer cases and Nipah concerns, and a slight 0.2% drop in reserves to US$6.824bn.

HP outlined a five-pillar strategy to expand technology access, accelerate digitization for MSMEs and partner with government in Sri Lanka; it said it holds about 27% market share in Sri Lanka (Q4 2025, IDC).

Medihelp Hospitals is expanding its Matugama and Kalutara branches by securing adjacent properties to increase capacity and add consultation rooms, diagnostics and improved patient facilities. The move is part of a broader growth plan that included a 20th branch in Ambalangoda and planned sites in Kiribathgoda, Kaduwela and Kadawatha.

High Commissioner M. Rizvi Hassen said Sri Lanka will work to restore and deepen engagement with the Maldives, citing Bank of Ceylon’s 44-year presence and a goal to return to pre-2019 levels of 20,000–30,000 Maldivian visitors/residents. He highlighted opportunities across tourism, financial services, construction, agriculture and healthcare.

Prime Minister Harini Amarasuriya said Sri Lanka welcomes increased Indian investment and tourist arrivals and welcomed India's $454 million long-term relief package; she highlighted cooperation across trade, energy, connectivity, digital transformation and health.

The EU has allocated an additional €1 million (over Rs 370 million) to support humanitarian relief and basic services for communities affected by Tropical Cyclone Ditwah in Sri Lanka, adding to prior €2.35m and other EU partner assistance.

Russel’s Wellness showcased Ayurveda-inspired wellness teas and medicinal formulations at Gulfood 2026, drawing strong interest from global buyers and a visit from Trade, Commerce, Food Security and Cooperative Development Wasantha Samarasinghe, highlighting export potential for Sri Lanka’s heritage wellness sector.

Prime Minister Dr. Harini Amarasuriya said Sri Lanka welcomes investors and tourists as it moves towards sustainable growth, noting India’s USD 454 million long-term relief package and cooperation across energy, connectivity, trade, digital transformation, health and tourism.

The U.S. Supreme Court invalidated the use of IEEPA for broad tariffs, cutting the effective tariff rate sharply, and the administration moved to a temporary replacement (announced at 10% then 15% under Section 122). The ruling creates trade and fiscal uncertainty, including an estimated USD240bn revenue impact and potential USD175bn in refund risk.

Russel’s Wellness showcased Ayurveda-inspired wellness teas and medicinal formulations at Gulfood 2026, attracting strong interest from global importers and a visit by the Hon. Minister, signalling growing international recognition for Sri Lanka’s heritage wellness sector.

Chinese medical teams and technologies from Yunnan — including a locally produced surgical robot (first to operate on a foreign patient, 60-minute nephrectomy with <20 ml blood loss) and the C909 flying hospital — are conducting cross‑border medical missions across the Mekong region and beyond.

The U.S. Supreme Court on Feb 20 ruled the president cannot use IEEPA to impose broad tariffs, cutting the U.S. effective tariff rate from ~13% to about 5–6% and removing roughly USD240bn of IEEPA-based annual tariff revenue. The administration has imposed a temporary 15% global tariff under Section 122, creating ongoing trade, fiscal and refund uncertainty.