News & market updates

Russel’s (Pvt) Ltd recognised several employees for May 2026, naming Amila Nilangani Employee of the Month and awarding others for outstanding service, reiterating the company's focus on staff appreciation to uphold hospitality and operational standards.

Technoli Institute held an AI-Powered Business Executive programme on 3 June 2026 at Jetwing Colombo Seven with Trident/Microsoft, Flash Health and Jetwing partners, where senior managers built live AI agents and learned AI decision frameworks, security and ethics.

Mastercard appointed Sandun Hapugoda as Group Country Manager for Sri Lanka, Maldives, Bangladesh, Nepal and Bhutan and promoted Mahesha Amarasuriya to Country Manager for Sri Lanka; the changes aim to accelerate digital payments, cross-border trade and tourism-focused growth.

Smoke & Bitters, a coastal venue in Dikwella, won the Michter’s Art of Hospitality Award ahead of Asia’s 50 Best Bars 2026. The bar was ranked No.14 on Asia’s 50 Best Bars 2025 and is the first Sri Lankan bar to appear on the extended World’s 50 Best Bars list.

Tourism Minister Vijitha Herath said tourism receipts have not fallen but are now reported more accurately after adopting international survey methods, and the apparent drop reflects corrected data. The government is introducing legal and technical steps, including taxing foreign digital platforms and integrating payment gateways, to retain more tourism foreign exchange.

La Serena held a Vesak Bhakthi Gee devotional recital for residents and invited guests, and about 60% of its residents are expatriate Sri Lankans. The gathering reinforced community bonds at the beachfront retirement resort that offers assisted living and shared amenities.

Mastercard appointed Sandun Hapugoda as Group Country Manager for Sri Lanka, Maldives, Bangladesh, Nepal and Bhutan and promoted Mahesha Amarasuriya to Country Manager for Sri Lanka. The changes aim to integrate operations across the five markets to boost tourism, cross-border trade and digital payments.

SriLankan Airlines confirmed Dimal Arandara as its permanent Chairman with immediate effect; he had been Acting Chairman after the previous chairman's resignation and the appointment received the President's formal concurrence.

Hilton Colombo Residences will host 'A Dad’s Day Out' Father’s Day brunch on 21 June 2026 (12:00–15:00) priced at Rs. 8,888 nett per person; fathers receive a 15% Hameedia discount and the first 10 reservations get a Rs. 5,000 Hameedia voucher.

Cuisine Colombo – Courtside will host a "Golden Oldies Night" on Saturday 13 June from 7:00 p.m., offering retro music, dining and a BYOB option. Reservations are open (call 0707 007 777).

The Embassy of Sri Lanka and VJSC hosted a tourism promotion event in Ho Chi Minh City on 8 June, highlighting VietJet's planned Ho Chi Minh–Colombo service from 18 Aug 2026 and Vietnam Airlines' direct flights later in 2026, boosting prospects for Sri Lanka's tourism industry and hotels.

The Sri Lanka–Thailand Business Council marks its 25th anniversary in 2026, holding a silver-jubilee event on 19 June at The Kingsbury Hotel with a 25-member Board of Trade Thailand delegation attending. The council highlights continued efforts to boost trade, investment and cooperation across tourism, logistics, healthcare, renewable energy and IT.

Colombo market rebounded as the ASPI rose 0.67% to 21,547.17 with net foreign inflows of Rs. 22.6 million. Gains were led by selected blue-chip counters and heavy turnover in capital goods and food & beverage names, with notable moves in DIAL, BREW, CCS, ABAN and JKH.

CameraLK hosted the Sony Regional Wildlife Kando at Yala, a four-day event that brought wildlife photographers from across Asia and served as the launch platform for the Sony Alpha a7R VI and FE 100-400mm F4.5 GM OSS. The programme included safaris, masterclasses and regional networking, promoting Sri Lanka as an imaging and wildlife-tourism destination.

Lassana.com opened a new flower and gifting boutique at Cinnamon Grand Colombo, offering in-hotel collection and multichannel ordering. The outlet will showcase floral and wedding services and provide free Colombo 1–4 delivery using electric vehicles.

Sri Lanka's BOI and Japanese partners held the 4th working-level Japan–Sri Lanka Committee on Business Environment on 2 June 2026 in Colombo to review and resolve investor concerns and strengthen FDI ties. The session stressed accountability and priorities such as technology transfer, green industry, manufacturing and tourism.

The IMF approved Sri Lanka’s combined Fifth and Sixth Reviews on 28 May 2026, releasing SDR 508 million (~US$695m) and bringing total EFF disbursements to SDR 1.778 billion (~US$2.4bn). The Fund said stabilisation has improved revenues, growth and reserves but warned debt sustainability remains “very high” and key structural reforms (electricity, public financial management) are unfinished.

Yazu at the Beach, the first international outpost of India's Yazu brand, has opened at Radisson Blu Resort Galle as a beachfront Pan-Asian venue catering to intimate celebrations and private events.

Overseas Realty (Havelock City) has partnered with Green Cabin to launch 'Havelock City Banquets by Green Cabin', appointing Green Cabin as the exclusive manager and caterer for the development's banquet facilities.

Emirates hosted Brad Pitt at the Roland-Garros 2026 finals, providing premium hospitality across its Emirates Lounge and Salon Philippe-Chatrier including afternoon tea, Dom Pérignon tasting and caviar service.

Kishore Reddy was re-elected president of the Indian CEO Forum at its AGM, where the Forum reaffirmed commitment to deepen India–Sri Lanka economic cooperation and urged upgrading the FTA to boost investment in infrastructure, tourism, IT, logistics and services.

Tokyo Cement's Mangrove Conservation Project has planted 100,000 mangrove saplings along Sri Lanka's coastline. The initiative, started in 2012, involves the Sri Lanka Navy and local communities and the nursery now produces about 7,500 saplings annually.

The DRC's Ebola outbreak and WHO emergency declaration prompted the US to impose a 21-day isolation rule on the DRC World Cup team and supporters, leading many fans to reroute travel to Mexico. China deployed a five-member medical expert team to assist DRC's Ebola response.

SLITHM signed an MoU with China's Central Academy of Culture and Tourism Administration (CACTA) on 08 June 2026 to strengthen tourism and hospitality education cooperation, covering student and staff exchanges, joint research, training, faculty development and curriculum enhancement.

Peterson Solutions Sri Lanka opened a new corporate office at Orion City, Colombo on 5 June 2026. The move reflects local growth—the consultancy, part of Peterson and Control Union Group, says it now serves 170+ Sri Lankan clients and is expanding services in sustainability, crop consultancy and digital solutions.

Opposition Leader Sajith Premadasa urged deeper Sri Lanka–India economic integration to boost trade and investment, highlighting UPI payment integration and proposed energy connectivity. He encouraged entrepreneurs and investors to pursue expansion and adapt to technological change.

IMF cut Sri Lanka's 2026 growth forecast to 3% and approved temporary fiscal easing under the EFF, enabling an immediate SDR 508m (~$695m) disbursement. It also lowered end‑2026 reserve projections to $8.645bn and trimmed 2026 tourism earnings to $2.5bn.

Sri Lanka's workers' remittances rose 36.2% YoY to $847m in May, and pushed January–May inflows above $3.9bn, bolstering foreign exchange reserves and macro stability. May marked the fifth consecutive month of strong growth and was second only to the Dec 2025 record.

Cabinet approved 77 Businesses of Strategic Importance for the Colombo Port City SEZ, including three Primary BSIs (Prime Melwa, Marina Hotel Holdings, Home Lands); land/development costs are ~Rs125bn (incl. ~US$262m) and Secondary BSIs are projected to bring ~US$364m and ~10,000 jobs over five years.

City of Dreams Sri Lanka, described as South Asia’s first integrated resort, brings luxury hospitality, entertainment and 16 distinct dining venues (including Nuwa and Cinnamon Life) to Colombo, positioning dining as a destination. The development is framed as elevating Colombo’s culinary scene and boosting its appeal for luxury leisure and business events.