News & market updates

John Keells Holdings (JKH) reported 3Q EBITDA of Rs. 23.76 billion, up 68%, and declared a second interim dividend of Rs. 0.10 (Rs. 1.77 billion outlay). Group revenue rose 54% to Rs. 125.05 billion and PBT increased 113% to Rs. 12.89 billion.

John Keells Holdings reported Group EBITDA up 68% year-on-year to Rs.23.76 billion in Q3. Nine-month EBITDA rose 84% to Rs.55.10 billion, profit attributable was Rs.6.48 billion, City of Dreams and the Colombo West terminal are ramping up, and a second interim dividend of Rs.0.10/share was declared.

The ASPI closed at 23,992.11, up 0.13% (31.95 pts) after hitting an intraday high of 24,068.22, with turnover over Rs.6.9bn and foreign net outflows of Rs.480.2m. Capital goods led turnover (Rs.1.91bn) with John Keells and ACL Cables among top contributors while market breadth remained weak.

SEC and the Colombo Stock Exchange held the 'Invest Sri Lanka' investor forum in Dubai on 22 January 2026 to promote Sri Lanka's capital markets and meet regional investors and institutions including Mubadala and the Abu Dhabi Securities Exchange. CSE highlighted the ASPI at over 23,800 (≈120% since Oct 2024) and USD 976m raised in 2024–25, while the Central Bank discussed resuming foreign credit lines with UAE banks.

223,645 tourists have arrived in Sri Lanka so far in 2026, SLTDA data shows. India accounted for 41,603 arrivals (19%); SLTDA also notes 252,761 tourists arrived in January 2025 and 2,362,521 foreign nationals visited Sri Lanka in 2025.

Softlogic Holdings PLC appointed Chandana De Silva as Country Head of Sabre Sri Lanka, its subsidiary and joint venture with Sabre. De Silva brings over 30 years' aviation experience with senior roles at SriLankan Airlines and Emirates, focused on commercial strategy and tourism partnerships.

Cabinet approved inviting international competitive bids to lease UDA land for large-scale recreational developments: nine plots totalling 13.57 acres along the Diyawanna Oya (Frolic Island hub) and a 10-acre plot by Gregory Lake, Nuwara Eliya. The Gregory Lake plot will be offered on a 50-year lease and supporting infrastructure work around Battaramulla is already complete.

John Keells Holdings, Hemas Holdings and JAT Holdings outlined growth strategies at First Capital's investor symposium; JKH highlighted City of Dreams and West Container Terminal Phase One at ~90% utilisation. Hemas sees consumers shifting back to branded quality and demographic-led convenience growth, while JAT targets post-cyclone reconstruction and manufacturing expansion.

Colombo Land and Development Company PLC appointed UDA Chairman M.G. Hemachandra as a Non-Executive Director. As of end-September 2025 UDA held a 17.45% stake and Hikkaduwa Beach Resort PLC held a 20.22% stake in the company.

Sri Lanka is pitching tax holidays of up to 15 years and positioning Colombo Port City as a regional financial and trade hub to attract UAE investors. The government says it will streamline approvals under the new Investment Promotion Act and is targeting agriculture, tourism, maritime logistics and renewable energy.

The India Cup 2026 golf tournament was held at the Royal Colombo Golf Club on 23 January 2026 with a record number of participants. Event sponsors included Lanka Ashok Leyland, Lanka IOC, Carson Cumberbatch and Tal Lanka Hotels.

Cinnamon Life (John Keells Hotels) will host 'Shadows of a Pre-Renaissance Era', an exhibition by Master Potter Ajith Mohan Perera from 2–3 Feb 2026 at the Cumulus Ballroom (10:00 AM–8:00 PM). The show presents pottery exploring craft, labour and Sri Lankan cultural heritage.

Emirates and Marriott will open the world's first Ritz-Carlton Lodge — a 40-key all-inclusive lodge in Wolgan Valley, Australia — expected mid-2026. Emirates is investing an additional AU$50m in renovations and the project could recreate about 150 local jobs.

Hilton Colombo Residences will host 'A Celebration of Nikah & Waleema' wedding showcase on 7 Feb 2026 at the Union Ballroom; couples who book and pay an advance on the day can enter a raffle and may receive up to 50% off wedding/homecoming packages for events of 300–600 guests.

Nüwa at City of Dreams Sri Lanka is offering Valentine's events: a Valentine’s Dinner Buffet at LKR 10,000 nett per person and an Exclusive Drinks & Cheese Evening at LKR 15,000 nett per person (limited to 10 couples) on 14 Feb, and a Galentine’s Dinner Buffet at LKR 8,500 on 13 Feb. Reservations are required.

Mercedes-Benz Fashion Week Sri Lanka 2026 will take place 7–11 October 2026 at Cinnamon Life in Colombo; the event is presented by AOD and powered by DIMO, the authorised Mercedes‑Benz agent in Sri Lanka. The five-day showcase aims to connect South Asian designers with global fashion networks.

The Export Development Board launched the National Export Development Roadmap 2026–2030 and an Export Performance Indicator data tool, targeting $36 billion in export revenue by 2030.

Marriott Bonvoy is launching over 500 bespoke 'Moments' for the ICC Men's T20 World Cup 2026 in India and Sri Lanka, including two Golden Ticket prize experiences and hospitality packages redeemable with points. Ten 1-point drops for India‑Pakistan tickets will be available on 2 Feb 2026.

The Western Provincial Council and Colombo Municipal Council will hold Salam Ramadan 2026, a three-day Muslim food and cultural festival at Green Path (Ananda Coomaraswamy Mawatha) from 27 Feb–1 Mar 2026, showcasing food, cultural performances and markets to promote inclusivity and visitor activity in Colombo.

ITC Ratnadipa, Colombo will host 'Heir to the Flame', featuring Chef J.P. Singh of Bukhara alongside his son Chef Naivedya Singh at Peshawri from 23 January to 1 February. The collaboration will showcase authentic tandoor-led dishes and heirloom Bukhara recipes.

Hilton Colombo is hosting World Chocolate Master Chef Aravinda Leelarathna for 'Chocolate Express', a month-long chocolate showcase running until 15 February 2026 across L.A.B and Café Kai featuring bespoke menus, workshops, high-tea offerings and children's sessions.

Colombo Academy of Hospitality Management launched the CAHM 7-Star Junior Chef Competition, sponsored by Serendib Flour Mills' 7 Star Wheat Flour, awarding a Rs. 2 million full scholarship to the winner. The contest targets 13–16-year-olds to build skills and a talent pipeline for Sri Lanka's hospitality sector.

Sri Lanka is offering tax holidays of up to 15 years and pitching Colombo Port City as a regional financial and trade hub to attract UAE investors. Officials said investment approvals will be streamlined and highlighted opportunities in agriculture, tourism, ports and renewable energy.

Sri Lanka recorded a record 2.36 million tourist arrivals in 2025, with non-traditional markets driving growth—Pakistan +65.75%, Bangladesh +50.58%, Italy +30.27%, Malaysia +29.71% and Netherlands +28.03% YoY. The government plans a free-visa rollout for 40+ countries and targets 3m arrivals and $5bn revenue in 2026.

IRONMAN 70.3 Colombo will be held on 22 February 2026 at Port City Colombo with Shangri‑La as host, expected to boost tourism, hotel, retail and services spending; Asiri Health is the event's official medical partner.

The Jaffna International Trade Fair opened for its 16th year at Muttraweli Ground, Jaffna and runs until Sunday, organised by LECS with the CCIY. The fair attracts importers, exporters, SMEs, financial institutions and development agencies seeking access to the Northern market.

AirAsia has added three weekly Colombo–Bangkok flights for Winter 2025/26, taking its total on the route to 10 weekly services. The new Wed/Fri/Sun FD142/143 flights (A320) complement the upgraded daily A321 service and boost connectivity for tourism and trade.

BOI reports USD 1,057 million FDI inflows in 2025, a 72% increase from 2024. Manufacturing accounted for 46% of inflows, port development 26% and tourism 11%; 24 new projects contributed USD 134m and BOI approved 146 projects worth USD 1,906m toward 2026 targets.

Sri Lanka's outgoing ambassador said discussions are ongoing with Ethiopian Airlines to start direct flights between Addis Ababa and Colombo. Launching the route would make Colombo Ethiopian's ninth South Asia destination and could boost tourism, air cargo and bilateral trade.