News & market updates

CMA Sri Lanka launched national Cost Accounting Standards to strengthen costing, control and reporting across large and medium public and private institutions; the standards prioritize sectors including power, telecom, manufacturing, drugs and agricultural/tea exporters to improve efficiency, pricing transparency and competitiveness.

Branding in Sri Lanka is shifting toward people-centered co-creation supported by AI—with nearly 90% of digital content ignored—offering opportunities for firms (e.g., Dialog Axiata) and hotel, tea and consumer brands to use community-driven storytelling and creator networks.

US dollar strengthened to Rs. 323.95 on May 14, with the selling rate rising to Rs. 329.92 — the highest since Dec 28, 2023; the buying rate increased to Rs. 322.28.

EDB and Janathakshan have partnered under the UNDP GEF-07 project to promote biodiversity-friendly, climate-resilient agriculture across six districts, targeting organic/artisanal tea, kithul, pepper, arecanut, cardamom and jackfruit and pursuing GI certification and export linkages to Japan, the EU and the US.

Colombo Stock Exchange was slightly higher midday Thursday — ASPI +0.04% (22,930) and S&P SL20 +0.11% (6,276). Top gainers included John Keells, Alumex, RIL Property and Lion Brewery while Sampath, Vallibel One, Hayleys and Malwatte fell; NDB reported a High Court order in a derivative action and Harischandra appointed four board members.

The Sri Lanka Export Development Board (EDB) signed an MoU with Janathakshan under the GEF-07 project to boost biodiversity-linked exports and rural livelihoods, targeting products like organic/artisanal tea, kithul, pepper, arecanut, cardamom and jackfruit and pursuing GI certification.

Cabinet approved a Rs.1,000 million 'Vari Mahima – Ape Urumaya' programme to rehabilitate and modernise small-scale village irrigation systems nationwide. The initiative targets siltation, structural damage and reduced water-use efficiency to boost rural water security and agricultural productivity.

Sri Lanka Expo originally planned for 2026 has been postponed to January 14-17, 2027 because of geopolitical uncertainties affecting trade and travel, the Export Development Board said. The event is expected to host about 750 local exporters and 1,500 international participants, and exhibitor registration is extended to July 31, 2026.

Sri Lanka completed a four-year FAO–Republic of Korea project to modernize shrimp aquaculture, producing a National Aquatic Animal Health Strategy and a digital Shrimp Industry Information System (SIIS). The project mapped 699 farms, trained 450 farmers and 190 officials, upgraded labs and provided about USD 128,000 of equipment.

Sri Lanka Expo 2026 has been rescheduled to 14–17 January 2027 at BMICH in Colombo. The EDB expects about 750 local exporters and 1,500 international participants and has extended exhibitor registration to 31 July 2026, citing geopolitical uncertainties.

EDB and Janathakshan GTE signed an MoU to strengthen biodiversity-friendly agri-export value chains across six target sectors—including organic/artisanal tea, Kithul, pepper, arecanut, cardamom and jackfruit—supporting market linkages, GI certification and export readiness.

Mordor Intelligence forecasts the coconut oil market to grow from USD 7.75bn in 2026 to USD 11.05bn by 2031 (CAGR 7.36%). Growth is driven by rising demand in cosmetics/personal care, clean-label cooking oils and pharmaceutical/nutraceutical uses, with Asia-Pacific leading production and government support improving supply.

The Sri Lanka Export Development Board has rescheduled Sri Lanka Expo to 14–17 January 2027 at BMICH citing geopolitical uncertainty. The event is expected to host about 750 local exporters and 1,500 international participants across apparel, tea, ICT, pharma, renewable energy and other sectors.

Colombo market closed lower as the ASPI fell 0.23% to 23,011.72 despite net foreign inflows of Rs. 597.5m; banking sector led turnover with large SEYB crossings and gains, while COMB, CINS, DFCC and Colombo Dockyard were among top negative contributors.

The Sri Lankan rupee has depreciated 3.6% against the US dollar year-to-date, with an indicative USD/LKR spot rate of Rs.321.87 (buy Rs.318.03, sell Rs.325.64) as of 8 May 2026 — the weakest level since 16 January 2024.

IPS research economist Dilani Hirimuthugodage argues Geographical Indications (GI) can boost Sri Lanka's export earnings by securing premium prices and niche-market access for origin-based products like tea and spices. She notes tea accounted for 51% of agricultural exports (10.9% of total exports) and calls for targeted GI reforms, better traceability and enforcement.

Durga Infra raised its stake in Hatton Plantations to 12.5% by buying 10,245,384 shares at Rs.25.60 each (≈Rs.262.3m) on May 6, increasing its holding to 29.58m shares of 236.67m issued.

RTS Holdings' Hidellana and Avissawella tea factories received Zero Carbon Manufacturing Certification after independently audited measures and offsetting 1,020 tonnes CO₂e to reach net-zero GHG emissions. Carbon credits were sourced from a CDM-certified hydropower project and the audit followed WBCSD/WRI GHG Protocol and ISO 14064-1 standards.

Kelani Valley Plantations (KVAL.N0000) signed an MOU with SPJ Creation on 12 March 2026 to convert electronic waste into sustainable jewellery and value-added products. The initiative aims to upcycle e-waste, promote green entrepreneurship, and create livelihood opportunities for local artisans.

Prime Minister Harini Amarasuriya set a bilateral trade target of $1 billion with Vietnam by 2030. She highlighted Sri Lanka's economic recovery (5% real GDP growth in 2025, 2.36m visitor arrivals) and invited Vietnamese investment across manufacturing, tourism, IT and logistics.

Prime Minister Dr. Harini Amarasuriya said rural youth can drive Sri Lanka's agricultural transformation with the right investment, noting SAPP has supported nearly 5,000 young agripreneurs since 2017. The National Youth Agripreneur Showcase connected 400 agripreneurs with markets, finance and partners, highlighting digital innovation and climate-resilient approaches.

Sri Lanka's ASPI closed up 0.29% (66.12 points) at 23,063 after a volatile session that briefly breached 23,000. Hayleys and Dialog were top positive contributors, and Hatton Plantations said Durga Infra bought 10,245,384 shares and now holds 12.5%.

Sri Lanka and Vietnam set a target to increase bilateral trade to $1 billion by 2030. Discussions covered renewable energy, digital infrastructure/AI, manufacturing and agriculture; Vietnam donated 100 tonnes of fertilizer and new airline routes to Colombo are planned.

BOI says potential German investors will visit Sri Lanka for the German Business Forum (GBF) 2026 in Colombo on May 27–29. The event targets boosting FDI into export sectors (textiles, apparel, rubber) and areas like logistics, precision engineering and renewable energy.

US dollar rose above Rs.320 today, mid-rate at Rs.320.45 (buy Rs.317.26, sell Rs.324.87); CBSL reports the rupee has depreciated about 2.9% against the USD as of April 30, 2026.

ASPI rose 258.09 points (+1.13%) on 7 Jul as CSE turnover reached ~Rs.5.28 B; Industrial Asphalt jumped 40%, SMB Finance gained (non‑voting +33.33%, voting +25%), while Palm Garden Hotels fell 7.08% and foreign net outflow was Rs.22.32 M.

Colombo bourse rebounded as the ASPI rose 0.69% (155.47 pts) to 22,739.77 after Middle East developments pushed oil below $100, with turnover over Rs. 4.1bn and net foreign inflow of Rs. 62.4m. JKH, MELS and RIL were among top positive contributors while LIOC fell and REEF gained.

The US dollar selling rate in Sri Lanka climbed above Rs.324 to Rs.324.03 (buying Rs.316.40, spot Rs.319.78), and the rupee has depreciated 2.9% against the dollar year-to-date to April 30, 2026.