News & market updates

Prime Group's 'YOLO' residential development received BOI approval and a $52.5 million investment agreement. The 13-acre Makola Kiribathgoda project comprises 476 apartments across 46 buildings, with units from Rs.35 million and a 1% monthly, interest-free payment plan.

Central Bank Governor Nandalal Weerasinghe warned IMF programme conditions may change significantly at the upcoming fifth/sixth reviews as IMF staff visit Colombo Mar 26–Apr 9, citing Cyclone Ditwah and a >35% jump in energy prices that raised reconstruction costs and inflationary pressure. Completion of the combined reviews would unlock about US$700m in IMF tranches.

ADB will provide $100 million in additional budget support to Sri Lanka, raising its planned 2026 budget support to $480 million. ADB is also fast-tracking a $200 million emergency assistance loan to restore transport networks and irrigation, and plans to scale up its program to over $1 billion to support infrastructure and reforms.

ADB raised Sri Lanka's allocation for this year to $480m (up from $380m) and will promptly release $200m. The Cabinet has approved plans to secure $620m for five sub-programs covering trade/industrial development, MSME finance, water/sanitation rehabilitation, resilience and agricultural value-chain support.

Commercial High Court of Colombo issued interim injunctions preventing Blue Ocean Legand Ltd, Blue Ocean Waves and Link Engineering (affiliates of Blue Ocean Group) from cancelling the master agreement or alienating 13 condominium units at 19th Lane, Colombo 3; the transaction is valued at ~Rs.477.9m (including Rs.277m debt set‑off and ~Rs.191m for steel).

Sarrah Sammoon was appointed IMC Field Officer for Sri Lanka by the Investment Migration Council in December 2025 to help align the country's investor visa and residency processes with global investment-migration standards as policy reforms are considered.

Lee Hedges PLC will acquire 100% of Lanka Realty Developments for Rs.3,157,518,000 in a two-part transaction (Rs.1,610,334,180 from Lanka Realty Investments and Rs.1,547,183,820 from Eighth Wonder). The deal is classified as a related-party transaction and is subject to shareholder approval.

ADB President Masato Kanda began a three-day visit to Sri Lanka to deepen economic cooperation, review development financing and macroeconomic stabilisation, and assess Cyclone Ditwah damage. He toured Colombo Port, will meet the president and private sector, and will review project pipelines and recovery needs.

ASPI fell 1.33% to 20,364.97 as the market reacted to Middle East tensions and rising crude oil prices. Market turnover was Rs.2.37bn, the market has lost over Rs.1.1tn since 28 Feb, primary negative contributors were DOCK, JKH, RIL, DIAL and CFIN, while JKH, SINS and DIAL saw largest foreign outflows and PKME, WIND and TAP largest inflows.

ADB President Masato Kanda led a delegation to the Sri Lanka Ports Authority and Port of Colombo on 23rd to review ongoing development projects and port operations. Discussions focused on project progress, improving delivery timelines, operational efficiency and strengthening ADB collaboration.

Share split · 1:70 · XD Apr 20, 2026

Sri Lanka recorded 5% GDP growth in 2025, with GDP surpassing $106.8bn; the services sector contributed 54.6% and industries 25.4%, while tourism and construction were cited as significant contributors to the recovery.

ADB President Masato Kanda arrived in Colombo to push private sector–led recovery, saying the ADB will support Sri Lanka by strengthening infrastructure and connectivity and mobilizing investment.

ADB President Masato Kanda arrived in Sri Lanka for a three-day visit to strengthen economic cooperation and assess Cyclone Ditwah damage, including touring Colombo Port and inspecting affected areas in Kegalle. He will meet the President and private-sector representatives to discuss recovery and development financing.

Port City Colombo is proposed as a strategic South Asian hub aimed at driving construction and infrastructure development and boosting trade, tourism and IT-enabled services in the region.

Marlbo Trading showcased FLIR thermal and acoustic imaging technologies at the INCO 2026 exhibition, demonstrating tools for early fault detection and energy-efficiency across construction, utilities and manufacturing.

Marlbo Trading will showcase FLIR thermal and acoustic inspection technologies at INCO 2026 (13–15 March, BMICH), demonstrating tools for early fault detection and leak identification across construction, utilities and manufacturing.

University of Sri Jayewardenepura has established the Centre for Fire Safety Engineering, backed by a Rs. 169.98 million research grant and nearly Rs. 100 million additional investment for laboratory construction. The centre offers full-scale fire testing, research, education and support for national building safety standards.

Speakers at an OPA seminar warned the Middle East conflict will raise global energy prices, strain fuel supplies (fuel ≈20% of Sri Lanka's import bill), and hit tourism and remittances (≈40% from the Middle East), urging price reforms, renewables, maritime and cyber security upgrades.

The ASPI fell 1.82% to 20,264.01, a seven-month low, as Middle East tensions and oil above $118 pushed markets down with margin calls and net foreign selling; JKH, AEL, COMB, MELS and HAYL were top negative contributors.

Colombo Stock Exchange closed up Friday with the ASPI +1.85% at 20,639.73, though the market is down 4.85% from last Friday. Turnover was Rs.4.39bn led by capital goods; top contributors included Sampath Bank, Hayleys, Colombo Dockyard, Melstacorp and John Keells, and Lanka Realty Investments said it will sell 57,204,262 shares to subsidiary Lee Hedges.