News & market updates

Agility Innovation Group has appointed Vasabha Bulathsinhala as Group Chief Executive Officer, after serving as Group COO since January 2025. The tech conglomerate—which includes KBSL, N-able, JIT and Lankacom and employs 600+ professionals—says the move supports its role in Sri Lanka’s digital transformation.

Synogen launched Synogen Evo, Sri Lanka’s first comprehensive EV charging hub at Independence Arcade with dedicated chargers for cars, three-wheelers and motorbikes plus smart monitoring and load management. The company plans network expansion and integration of renewable energy and intelligent energy management across future sites.

ADB will provide more than $1 billion annually to Sri Lanka from 2026–2029 to support macroeconomic stability, private-sector growth, education, resilient infrastructure and a major digital transformation program. The bank is fast-tracking emergency assistance for Cyclone Ditwah recovery and will support Sri Lanka's RCEP accession.

Fitch forecasts global growth slowing slightly to 2.6% in 2026 (from 2.7% in 2025) if the recent oil-price shock is short-lived, and raises its 2026 Brent oil forecast to USD70/bbl. It also expects US growth of 2.2%, China 4.3% and anticipates two Fed cuts in 2026 under the base case.

Cabinet approved awarding a Rs. 2,197.96 million contract to Millennium I.T.E.S.P. Ltd. to supply an Oracle Exadata XIIM system and related software to Sri Lanka Customs for eight years. Three bids were received and only one bidder qualified on technical grounds.

Link4 has acquired 100% of Unifiedpost Pte Ltd from Banqup Group, adding the Singapore e‑Invoicing provider's assets and customers to strengthen its Asia‑Pacific InvoiceNow presence. Unifiedpost's IMDA accreditations will terminate on 31 March 2026, with customers transitioned to Link4's accreditation and continuity of service.

Asia Securities convened 150+ investors and corporate leaders at the Sri Lanka Investor Conference 2026 to present a constructive capital-market outlook, with speakers citing roughly 4% GDP growth prospects for 2026. Panels highlighted construction, banking/finance, consumer and digital sectors as key growth drivers and projected strong corporate earnings expansion.

Sri Lanka's Industry and Entrepreneurship Development Ministry and EDB held diplomatic meetings to promote Sri Lanka Expo 2026 (18–21 June 2026 at BMICH) and attract international buyers and investors. The outreach targeted participation across apparel, tea, spices, rubber, ICT services, food & beverages and industrial manufacturing.

ADB will provide more than $1 billion annually to Sri Lanka from 2026–2029 and is fast-tracking an emergency assistance loan to help rebuild after Cyclone Ditwah. Funding will target macro stability, private-sector growth, digital transformation and resilient infrastructure, and support RCEP accession.

Bitget aims to capture 40% of tokenized stock trading by 2030 and is expanding its TradeFi Hub to offer one-click access to tokenized stocks, ETFs, commodities, treasury products and stock perpetual futures, enabling 24/7, fractional and faster-settling markets.

Fitch Ratings warns elevated AI-driven credit risks are concentrated in software, media and services, with disruption risk for asset-light, intangible-driven firms and overinvestment risk largely limited to hyperscalers and select cloud providers. Firms with mission-critical functions, high switching costs, proprietary data and financial flexibility are expected to be more resilient.

The Ceylon Chamber Export Barometer Survey 2026 found more than half of exporters view Sri Lanka's investment climate as worse than peers, citing policy/regulatory uncertainty, labour and energy costs. The 90-respondent survey shows exporters are diversifying and seek a National Single Window, digital systems, capacity-building and FTAs to improve competitiveness.

The Financial Intelligence Unit completed the 2024/25 National Risk Assessment on money laundering, terrorist financing and proliferation financing, finding overall ML risk remains medium, TF risk rose to medium-high and PF was rated medium. The NRA includes 15 recommendations and will inform an updated national AML/CFT/CPF policy for 2026–2030 and institutional risk assessments.

Huawei unveiled new 5G-A mobile transport solutions at MWC Barcelona 2026 focused on green ultra-broadband, congestion awareness and network autonomy, claiming a 30% TCO reduction, >20% higher user data usage, ~3M kWh saved per 1,000 devices over 3 years and 20% O&M efficiency gains.

BPC has joined as Strategic Partner for the LankaPay Technnovation Awards 2026, a national fintech awards event on 24 March 2026 celebrating Inclusive FinTech and payment technology innovation in Sri Lanka.

Sri Lanka is strengthening global trade partnerships to promote Sri Lanka Expo 2026 (18–21 June 2026 at BMICH, Colombo), aiming to attract international buyers and investors across apparel, tea, spices, rubber, ICT services, food & beverages and industrial manufacturing. A high-level EDB and ministry delegation met UK, Indonesian and Korean envoys to boost participation.

HerProgress.OurProsperity, a national women-led movement, was launched on March 8, 2026, with seven priority pillars addressing safety, legal recourse, women’s health (including period poverty), digital protection and economic empowerment to drive grassroots change across Sri Lanka.

Colombo market rebounded as the ASPI rose 2.17% (474.38 pts) to 22,378.52 after global oil prices fell below $95/bbl, with gains led by banks and blue-chips including HNB, SAMP, COMB and DIAL and turnover of about Rs.4.48bn.

The Sri Lanka Export Development Board has opened applications for Sri Lanka Expo 2026 (18–21 June at BMICH), offering 650 booths and opportunities to meet over 1,500 global buyers; applications close 31 March 2026. Sectors covered include industrial and agro-industrial products and services such as ICT, tourism, renewable energy and healthcare.

Pay&Go CEO Vardan Aslibekyan was appointed to the Board of Fintech Forum Sri Lanka. Pay&Go serves over five million users, processes about 1.5 million transactions monthly and is expanding its kiosk and merchant terminal network.

Colombo Stock Exchange's ASPI rose 2.17% to 22,378.52 on Tuesday as global oil fell below $100/bbl. Hatton National Bank, Sampath Bank, Commercial Bank and Dialog Axiata were top positive contributors; Softlogic Holdings (up 47.22% after six crossings) and Renuka Hotels saw notable turnover.

TikTok’s Regional Trust & Safety Lead for South Asia, Asma Anjum, says TikTok applies search-level interventions in Sri Lanka—structured search guides, public service notices, multilingual hubs, AI-content labels and redirects to authoritative sources—to reduce misinformation and add context during elections, disasters and sensitive searches.

Fcode Labs launched Forevate, a real-time market intelligence platform combining internal data and external signals to help firms respond faster; the solution initially targets manufacturing, logistics, retail/e‑commerce and FMCG across Asia, Europe and North America.

Sri Lanka Export Development Board has opened applications for Sri Lanka Expo 2026, a four-day international trade exhibition from 18–21 June 2026 at BMICH offering 650 booths and access to over 1,500 global buyers; application deadline is 31 March 2026.

The BOI will host the 'Invest in Sri Lanka' Forum on 30 March to showcase improving macroeconomic stability and attract global investors to opportunities in renewable energy, tourism, technology and infrastructure.

Vardan Aslibekyan, CEO of Pay&Go, was appointed to the Board of Fintech Forum Sri Lanka. Pay&Go serves over five million users and processes about 1.5 million transactions per month across mobile, POS, kiosks and web platforms.

Web3Interactive and its Sri Lankan subsidiary Immersive Labs are introducing advanced immersive real-estate visualization and sales technologies (VR/AR walkthroughs) to Sri Lanka to help developers boost buyer confidence and attract overseas investors.

BOI will host the 'Invest in Sri Lanka' Forum on 30 March 2026 at Cinnamon Life to showcase sustainable, technology-driven and high-value investment opportunities. The forum highlights include a 70% renewable electricity target by 2030 and prospects across hospitality, logistics, manufacturing and digital infrastructure.

Dialog Axiata PLC launched a 24/7 trilingual (Sinhala, Tamil, English) AI Chat & Voice Bot on Yeheli.lk to provide free, anonymous mental-health and wellbeing support, linking users to partners and qualified professionals.

Binance CMO Rachel Conlan argues that blockchain and digital assets can boost women's financial inclusion—cutting remittance costs and expanding DeFi credit—while urging education, regulatory compliance, audited algorithms and improved mobile access to ensure equitable participation.