News & market updates

Yazu at the Beach, the first international outpost of India's Yazu brand, has opened at Radisson Blu Resort Galle as a beachfront Pan-Asian venue catering to intimate celebrations and private events.

Emirates hosted Brad Pitt at the Roland-Garros 2026 finals, providing premium hospitality across its Emirates Lounge and Salon Philippe-Chatrier including afternoon tea, Dom Pérignon tasting and caviar service.

Kishore Reddy was re-elected president of the Indian CEO Forum at its AGM, where the Forum reaffirmed commitment to deepen India–Sri Lanka economic cooperation and urged upgrading the FTA to boost investment in infrastructure, tourism, IT, logistics and services.

The DRC's Ebola outbreak and WHO emergency declaration prompted the US to impose a 21-day isolation rule on the DRC World Cup team and supporters, leading many fans to reroute travel to Mexico. China deployed a five-member medical expert team to assist DRC's Ebola response.

SLITHM signed an MoU with China's Central Academy of Culture and Tourism Administration (CACTA) on 08 June 2026 to strengthen tourism and hospitality education cooperation, covering student and staff exchanges, joint research, training, faculty development and curriculum enhancement.

Opposition Leader Sajith Premadasa urged deeper Sri Lanka–India economic integration to boost trade and investment, highlighting UPI payment integration and proposed energy connectivity. He encouraged entrepreneurs and investors to pursue expansion and adapt to technological change.

IMF cut Sri Lanka's 2026 growth forecast to 3% and approved temporary fiscal easing under the EFF, enabling an immediate SDR 508m (~$695m) disbursement. It also lowered end‑2026 reserve projections to $8.645bn and trimmed 2026 tourism earnings to $2.5bn.

Cabinet approved 77 Businesses of Strategic Importance for the Colombo Port City SEZ, including three Primary BSIs (Prime Melwa, Marina Hotel Holdings, Home Lands); land/development costs are ~Rs125bn (incl. ~US$262m) and Secondary BSIs are projected to bring ~US$364m and ~10,000 jobs over five years.

City of Dreams Sri Lanka, described as South Asia’s first integrated resort, brings luxury hospitality, entertainment and 16 distinct dining venues (including Nuwa and Cinnamon Life) to Colombo, positioning dining as a destination. The development is framed as elevating Colombo’s culinary scene and boosting its appeal for luxury leisure and business events.

The 31st National Bartenders Competition completed all six regional rounds and advances to semi-finals on 15 June, with the Grand Finale on 26 June. Supported by IDL and organisers, the event featured a Master Class and one of the highest levels of female participation in its history.

Visakesa Chandrasekaram won the 33rd Gratiaen Prize for his book The Son and the Lover. The award was announced at Cinnamon Life at City of Dreams, with John Keells Foundation as primary sponsor and a record number of entries this year.

24 Polish national contestants and 45 staff arrived in Sri Lanka for a 10-day program as part of the Miss Polski pageant, held in Sri Lanka for the first time. The SLTPB is staging the event across destinations including Sigiriya, Pasikuda, Nilaveli, Minneriya, Dambulla and Colombo to attract tourists.

Grand Park Arena has expanded into pickleball and will host Picklefest 2026 on 13–14 June at its Piliyandala venue. The festival-style event will include competitive categories, food, entertainment and sponsor activations, aiming to boost pickleball participation in Sri Lanka.

Tourism Deputy Minister Prof. Ruwan Ranasinghe received the 2026 SITF Eminent Tourism Pioneer Award at the 41st Seoul International Travel Fair on 4 June, becoming the first Sri Lankan recipient. The award highlights Sri Lanka's growing visibility in global tourism as the country seeks to expand arrivals and earnings.

EU supported the launch of Sri Lanka’s revised National Green Reporting System Guidelines, aligned with GRI standards and officially launched by President Anura Kumara Dissanayake. The voluntary framework aims to strengthen ESG reporting and transparency across manufacturing, commercial and service sectors to help firms meet global market requirements.

Deputy Finance Minister Anil Jayantha said Sri Lanka's rupee is returning to a normal state through market forces, with the Central Bank's buying rate between 320–330 after a near four-year low of 354; he cited export, tourism and remittance inflows and interventions stabilising fuel-driven fluctuations.

State-owned enterprises' combined profit fell 17.6% to Rs. 444.4 billion in 2025, driven by the Ceylon Electricity Board's swing to a Rs. 38.7 billion loss. Excluding CEB, the remaining 50 SOEs posted a 21.5% rise in profits to Rs. 483.2 billion, with Bank of Ceylon the top contributor and several SOE and power-sector reforms advanced.

Pink Eagle Holdings is consolidating as a diversified Sri Lankan conglomerate, expanding globally across tea exports, logistics, food manufacturing, hospitality and digital retail. Milestones include Continental Tea/ADRA Ceylon's 10th anniversary, the Avanti freight app launch, and new food-manufacturing and retail initiatives.

Aitken Spence PLC posted FY26 PBT of Rs. 12.8 billion (up 18%) and PAT of Rs. 9.1 billion (up 27%). Tourism was the main driver—accounting for 61% of group contribution—overseas operations provided 61% of profits, and the group secured SBTi-validated emission reduction targets.

Fitch upgraded the Maldives' Long-Term Foreign-Currency IDR to 'CCC-' from 'CC', citing eased default risks after successful repayment of its sukuk. Fitch nonetheless flagged high external and fiscal vulnerabilities, wide twin deficits, low reserves, and exposure to an Iran-war energy shock and tourism dependence.

Padel House has taken on two strategic investors—Mahela Jayawardene and Trade Promoters Ltd.—with M Power Capital Securities providing sell-side advisory. The transaction signals growing investor interest in lifestyle, sports and experiential businesses in Sri Lanka and increased demand for corporate finance advisory.

Hilton Colombo is hosting 'A Turkish Affair', a 10-day Turkish culinary showcase at Graze Kitchen from 11–20 June 2026, priced at LKR 10,888 nett per adult. The event, held with Hilton Istanbul Bosphorus and guest chef Sercan Hamarat, includes a Turkish Airlines raffle for a return ticket.

The Ceylon Chamber will host the Sri Lanka Climate Summit 2026 on 9 June in Colombo to focus on business climate readiness, investment readiness and unlocking climate finance. Participants include the Environment Minister, ADB, UN agencies, Commercial Bank CEO and Aitken Spence sustainability leadership.

IPG completed the Lanka Premier League 2026 Player Draft in Colombo, with the five franchises finalising squads from a strong pool of Sri Lankan and international players ahead of the sixth edition of the tournament.

Colombo Stock Exchange will host a free online workshop on 23 June 2026 (1:00–4:30pm) to guide corporates on implementing the ISSB/IFRS Sustainability Disclosure Standards (IFRS S1 and S2). Sri Lanka adopted SLFRS S1/S2 effective 1 Jan 2025, with phased mandatory compliance across listed entities through 2027.

Radisson Hotel Asia Pacific Investments assigned its rights under Galadari Hotels' 2023 hotel development and management agreements to affiliate Radisson Hospitality Belgium BV effective 1 Jan 2025. The Galadari, undergoing renovations funded by a Mashreq Bank loan, will operate as Radisson Blu Hotel Galadari Colombo after completion.

Nyne Hotels reaffirmed its sustainability commitments and set 2030 targets including a 20% cut in greenhouse gas emissions, reduced water use and elimination of single-use plastics. The group is installing solar systems, water-saving fixtures and rainwater harvesting (up to 30% water savings) and pursuing Travelife certification at Rock Villa.

Cabinet approved a Rs. 1.475 billion '10 Cities Development Program' to modernise and brand 10 towns and boost their economic and tourism appeal, with 217 projects identified. Rs. 500 million was already earmarked in the Budget and the Transport, Highways and Urban Development Ministry will coordinate implementation.