News & market updates

Altair appointed Realty Management Services (RMS) as its new facilities management partner to enhance operational excellence and resident experience. RMS will implement digital service platforms, improved security and housekeeping, and sustainability and energy-optimization initiatives.

National Development Bank's trading halt was lifted and its shares fell to Rs.115.00 from Rs.130.50 after investors reacted to a reported Rs.13.4 billion fraud. The ASPI was down 0.12% at 21,100.65 and Vidullanka authorised acquiring 100% of the 4.5MW Gurugoda mini-hydro plant.

Fitch published an 'A(lka)' National Long-Term Rating on WindForce PLC’s proposed senior unsecured redeemable debentures of up to LKR4 billion. Fitch cited structural subordination from secured subsidiary debt and significant capex—forecasting EBITDA net leverage to peak at 9.0x in FY27—while assigning a Stable outlook.

BOI held a full-day FDI promotion session with a 15-member Malaysian delegation to showcase ready projects, land and infrastructure for immediate investment, drawing interest in ICT/data centers, solar renewable energy, manufacturing, FMCG, agri-processing and tourism.

The World Bank Group and the Government of Sri Lanka launched a five-year Country Partnership Framework mobilizing more than $1 billion in IFC investment and up to $1 billion in low-interest World Bank financing to support private-sector-led job creation and growth. The program targets easier business rules, port and energy infrastructure (70% renewables by 2030, +1 GW), tourism and agriculture support, and a first $100m REVIVE project to create about 3,000 jobs in the Northern and Eastern provi

Sri Lanka and the World Bank Group launched a five-year Country Partnership Framework mobilising over $1bn in IFC investment and up to $1bn in low-interest World Bank financing, with a first approved $100m REVIVE project for the Northern and Eastern Provinces. The plan targets easier business rules, Port of Colombo expansion, 1 GW of new clean power by 2030, tourism and agriculture job creation, and climate resilience.

WindForce PLC proposed to raise Rs.4 billion by issuing 40 million listed, rated, senior, unsecured, redeemable Green Bonds at Rs.100 each, subject to regulatory approvals. As of end-December 2025 the company reported short-term borrowings of Rs.2.52bn, long-term borrowings of Rs.8.5bn and retained earnings of Rs.6.1bn; shares closed down Rs.0.20 at Rs.44.80.

Swinburne University of Technology Australia sent a delegation of academics to Sri Lanka to brief students on global opportunities and evolving education across business, health sciences, engineering and IT. They stressed adaptability, industry integration, digital/AI skills, sustainability and renewable-focused training.

First Capital Treasuries PLC joined the Partnership for Carbon Accounting Financials (PCAF) to measure and disclose the carbon footprint of its financed activities using the PCAF methodology. The move, the company said, aligns with its sustainability agenda and its parent, First Capital Holdings.

Cabinet cleared the Ceylon Electricity Board to develop the Maha Oya pumped-storage hydro project at Rs243.09 billion. The project will store excess renewable energy to improve grid stability, reduce reliance on peak thermal generation and will be funded under the Public Debt Management Act No.33 of 2024.

Cabinet approved Rs. 243.09 billion in funding for the Maha Oya Pumped Storage Hydropower Plant to be implemented by the Ceylon Electricity Board under the Public Debt Management Act. The two‑phase project aims to provide large-scale energy storage to balance renewable generation and stabilize supply at peak demand.

WindForce Plc will issue up to 40 million listed green bonds to raise Rs4 billion. The company said details on tenure and interest rates will follow and noted a recent award to build a 10 MW/40 MWh BESS project costing Rs1.73 billion (80:20 debt-to-equity).

Commercial Bank of Ceylon will expand its investment banking platform to offer integrated equity, debt and advisory services and use its balance sheet to underwrite and finance transactions, citing a 2025 green bond and research-driven advisory to support capital formation in Sri Lanka.

Colombo Stock Exchange rose as the ASPI gained 0.55% (116.65 pts) to 21,182.83, with bank stocks leading turnover of Rs.370 million. WindForce filed to issue up to 40 million green bonds to raise Rs.4 billion; top movers included Sampath, ACL Cables and Dialog while HNB and John Keells weighed on the index.

First Capital Treasuries (FCT.N0000) has joined the Partnership for Carbon Accounting Financials to measure and disclose the carbon footprint of its financed activities. The move will help its parent, First Capital Holdings (CFVF.N0000), understand portfolio emissions and strengthen climate-related risk management.

Cabinet approved procurement of 300 MW of battery energy storage systems (BESS), moved up to 2028–29 to stabilise renewable integration. 250 MW will come from 25 standalone 10 MW/40 MWh BOO units tied to the CEB distribution network, and 50 MW will be batteries integrated with existing solar via competitive bidding.

The UK All-Party Parliamentary Group on Sri Lanka held a briefing in Parliament on Sri Lanka’s economic outlook; ODI Global highlighted opportunities for UK investment in renewable energy and the financial sector and noted progress in macroeconomic stabilisation.

Hambantota International Port Group will invest USD 108 million in new quay cranes, RTGs and trailers to expand capacity to about 2 million TEUs and enable handling of the world’s largest container vessels. The upgrade aims to boost efficiency and move operations toward electrified, more sustainable handling.

John Keells CG Auto, the sole authorised BYD and DENZA distributor, urged customers to use smart charging and provides 7kW and 2.5kW home chargers so vehicles can be scheduled to charge in off-peak hours, supporting grid stability amid higher tariffs and rising NEV demand.

On 23 March 2026 the All-Party Parliamentary Group on Sri Lanka held a briefing in the UK Parliament reviewing ODI Global reports on Sri Lanka’s economic outlook and debt distress, noting progress in stabilising the economy since the 2022 crisis. Speakers highlighted opportunities for UK investment in renewable energy and the financial sector and stressed the need for macroeconomic stability, structural reforms and investor confidence.

The Sri Lanka–Benelux Business Council met with the Dutch Ambassador to discuss strengthening private‑sector links and potential collaboration in logistics and port development, renewable energy and maritime services; the Council will share a concept note on priority sectors and engagement initiatives.

Seylan Bank PLC signed an MOU with GS EVO Motors to provide a dedicated EV leasing facility offering interest rates from 10% (A.I.R) and repayment terms up to seven years. The facility includes fast-track 24-hour approvals, island-wide access and a dedicated leasing team.

Government launches five-month 'Surakimu Lanka' program to promote voluntary energy conservation to manage potential fuel and electricity supply risks from the Middle East conflict and possible El Niño. It urges reduced peak-time use (6–10pm), shifting energy-intensive activities to daytime and highlights hydropower management.

Blue Arc Manufacturing and the BOI signed an agreement to establish Sri Lanka's first containerised substation assembly factory to manufacture and export containerised substations, skid substations and switch rooms for Australian mining, tunnelling and construction sectors. Units will be assembled and tested to international standards and the company plans to expand into markets including solar and hydro.

Colombo Stock Exchange opened higher, ASPI up 0.71% to 21,571.61, led by consumer durables and apparel with Teejay Lanka contributing Rs.546.8 million to morning turnover. Commercial Bank and Nations Trust Bank were top positive contributors; National Development Bank was the top negative contributor.

National Development Bank (NDB) raised Rs. 16 billion via its inaugural Basel III-compliant Tier II GSS+ thematic bond, oversubscribed on 10 March 2026 and now Sri Lanka’s largest such issuance. GGGI provided technical assistance and has supported NDB, Commercial Bank of Ceylon and DFCC in developing sustainable finance frameworks.

Blue Arc Manufacturing and the BOI signed an agreement to establish Sri Lanka’s first containerized substation assembly factory to manufacture and export skid and containerized substations. Units will be assembled and IEC-tested in Sri Lanka for Australian mining, tunneling and construction projects, using local labour and modular, IoT-capable designs.

HNB PLC has rolled out its Avurudu card offering for March–April 2026 with discounts up to 70%, 0% interest instalment plans up to 48 months (and up to 60 months on select solar energy solutions), and seasonal privileges across more than 300 merchants. The programme covers categories from supermarkets and electronics to travel and dining and includes a FIFA World Cup prize draw for Visa Club Infinite holders.

HNB Finance PLC and Hayleys Mobility (Hayleys PLC) have formed a strategic partnership to expand Sri Lanka's NEV market by offering tailored leasing with preferential rates, doorstep services and value-added after-sales support, including complimentary registration and a 7kW home charger.