News & market updates

Authorities activated an 'Override' option in the fuel QR system on the 19th allowing vehicle owners to cancel an existing registration and immediately re-register a vehicle by verifying vehicle and chassis numbers. The previous account and related data are removed and officials warned that overriding without legal ownership is an offence.

Huawei unveiled three AI-ready enterprise infrastructure solutions in Sri Lanka at the Huawei Intelligent IT Summit 2026 — OceanStor Dorado all-flash storage, OceanStor A800 distributed file storage, and the Atlas Intelligent Computing platform. The technologies target AI computing and high-performance data needs across sectors such as banking and telecommunications.

Colombo Stock Exchange rose as Brent crude fell below $110, with the ASPI up 0.85% to 20,436.53. Turnover was 682 million rupees, led by gains in Sampath Bank, Melstacorp and Dialog Axiata.

New feature launched March 19 lets users obtain and override a vehicle's fuel QR code by entering the vehicle number and chassis number, enabling re-registration under a new phone number and immediate deactivation of the prior account. Removing a prior registration cancels the previous user's access and doing so without legal authorization is an offense.

Colombo market rebounded as the ASPI rose 1.09% (222.54 pts) to 20,640.63 on turnover of Rs.5.27bn, while foreign investors were net sellers of Rs.191.2m. Banking led turnover (34%) driven by HNB crossings of Rs.607.7m; top movers included DOCK, RIL, AEL, MELS and ACL.

Sri Lanka's economy expanded 5.0% in 2025, with GDP at constant prices rising to Rs. 13,128,577 million. Industry led growth at 7.8% while services grew 3.3% and agriculture 1.4%; authorities cited easing interest rates, a relatively stable exchange rate and stronger construction, manufacturing, financial services, IT and tourism activity.

Sri Lanka's economy expanded 5.0% in 2025, with Q4 growth slowing to 4.8% (from 5.4% in Q3). Industry led the expansion (7.8%) driven by construction, mining and manufacturing, while services grew 3.3% and agriculture 1.4%.

Deputy Minister says QR-based National Fuel Pass glitches were fixed within three days and the platform is now stable; system, developed at no cost by the IT Ministry and Dialog, has 5,094,566 users and 5,103,991 linked vehicles.

India is negotiating six FTAs with Australia, Sri Lanka, Peru, Chile, the Eurasian Economic Union and Israel to expand market access, with talks at various stages and multiple negotiation rounds held since 2015–2026.

Colombo Stock Exchange fell 3.47% to 20,939.26, wiping out about Rs.701 billion in value since Feb 28 amid concerns over the Middle East conflict. The S&P SL20 dropped 3.28% to 5,884.93, turnover was ~Rs.6.6bn, and major decliners included JKH, COMB, HNB, DIAL and DFCC.

Celeste announced an equity partnership with Sri Lankan music duo Bathiya and Santhush (BNS) as the quick-commerce and online supermarket celebrates six years and over 135,000 customers. The brand offers 24/7, 30-minute deliveries via UberEats and PickMe Market.

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.

Novus Technologies has joined the LankaPay Technnovation Awards 2026 as a Platinum Sponsor. The awards will be held on 24 March 2026 under the theme "Inclusive FinTech," and Novus said the partnership aligns with its digital payments strategy including work on GovPay.

Dialog Axiata PLC has launched the Oscal Tiger 8 5G, an affordable 5G smartphone now available through its islandwide retail and channel partner network. The device offers up to 24GB RAM (8GB + 16GB expansion), a 6.88" HD+ display, 16MP main camera, microSD support to 2TB, NFC and Dialog data bundle benefits.

Dividend · Rs 0.75 · XD Jun 22, 2026

First And Final dividend of LKR 0.75/share; XD 2026-06-22; record 2026-06-22; payable 2026-07-10; FY ended 31st December 2025

Asian markets were cautious as Gulf hostilities kept oil elevated (Brent $104.01/bbl), complicating the inflation outlook and likely keeping most central banks on pause this week. The Fed is widely expected to hold while the RBA may hike to 4.1%.

Colombo Stock Exchange fell sharply as the ASPI dropped 3.47% (753.29 pts) to 20,939.26 and the S&P SL20 fell 3.17% to 5,891.67, with major decliners including John Keells, Dialog Axiata, Commercial Bank, HNB and DFCC. Siyapatha Finance, a Sampath Bank subsidiary, received CSE approval in principle to list Rs.3.75bn of 11.50% debentures.

The Urban Development Authority launched the 'Mother Lanka' digital platform to boost public participation and transparency in urban planning, accessible at motherlanka.uda.lk. The multilingual platform lets stakeholders view projects and regulations, submit feedback for real-time review, and emphasizes data protection.

LOLC Securities' Investor Forum said a sovereign credit rating upgrade could attract foreign inflows as CSE market capitalisation rose to about Rs.7.6 trillion (from Rs.2.9 trillion in 2022). The forum highlighted stabilised macro fundamentals, recovering exports and tourism, and sectoral opportunities in finance, construction and export-oriented industries.

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.

The Presidential Secretariat and Ministry of Digital Economy held an "AI for Transforming Public Service" workshop on the 12th at the Ratnapura District Secretariat to raise AI awareness among executive-grade public officers across Sabaragamuwa Province. Resource persons included former ICTA directors Harsha Purasinha and Samisa Abeysinha.

Asian equity markets fell as rising oil prices and escalating Middle East tensions pushed the MSCI Asia‑Pacific down about 1.8% (weekly losses ~2.2%); Brent crude hovered near $100/bbl, tech and export-oriented stocks led declines and currencies showed heightened volatility.

SLT-MOBITEL launched redesigned fibre broadband packages offering unlimited plans from Rs. 5,900/month (speeds 100–1,000 Mbps) and an 80GB starter plan at Rs. 2,690/month, with no line rental and voice on request.

ASPI fell 1.63% to 21,998.12 as Middle East tensions and higher oil prices weighed on the Colombo market. S&P SL20 dropped 1.71% to 6,172.28 with broad declines led by JKH, HNB, MELS, HAYL and SAMP; turnover topped Rs.4.1bn and foreigners were net buyers of Rs.32.2m.

Selvern Trust launched SELVE, an AI-driven spoken English app available with a free trial in March 2026, and says over 200 users have reported improved English proficiency. The app offers real-time AI support, Sinhala/Tamil support, gamification and enterprise partnerships for wider deployment.

TikTok is reshaping how Ramadan is experienced in Sri Lanka by enabling visible coordination of Zakat, public sharing of fasting practices, and by highlighting businesses' adjustments to hours and workplace policies. This increases reach for small food entrepreneurs and makes accommodation practices more publicly observable.

Port City Colombo signed a strategic partnership with OREL IT to provide customised technology solutions and accelerate development of a state-of-the-art data centre to support companies operating in the Colombo Port City SEZ.

Moose Fans App entered an ‘acceleration phase’ during the Men’s T20 World Cup, growing registered users to 3,509 (a 157% increase) and recording 7,675 total predictions. The app paid over Rs. 400,000 to more than 20 winners and developers say it is transitioning into a long-term fan engagement platform.

Mintpay launched a Corporate Gifting Solution offering no-expiry digital vouchers convertible to Mint Coins and redeemable at 2,500+ merchants; the product has been adopted by over 50 companies, including Union Assurance, within six months.

Dialog Axiata PLC launched the Oscal Tiger 8 5G, an affordable 5G smartphone now available islandwide offering up to 24GB RAM (8GB + 16GB expansion), a 6.88” HD+ display, 16MP camera, microSD up to 2TB, NFC and Dialog data-bundle benefits.