News & market updates

Advocata Institute praised the Government's mid‑month fuel price revision as preventing hoarding and shortages and urged cost‑reflective pricing and greater transparency in the Ceylon Petroleum Corporation's pricing formula, noting fuel accounts for 15% of Sri Lanka's current‑account outflows. It recommended weekly (moving toward daily) adjustments to protect scarce foreign exchange, improve fiscal discipline and encourage a shift to greener substitutes.

National Development Bank PLC (NDB) raised Rs. 16 billion via Basel III-compliant Tier II Unsecured Subordinated GSS+ Bonds to be listed on the CSE; the issue opened on 10 March 2026 and was oversubscribed the same day. Proceeds will fund eligible green, social and sustainability projects, including renewable energy.

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.

DFCC Bank listed its Rs. 3 billion Blue Bond on India INX (10 Mar 2026) and registered it on the Luxembourg Green Exchange (12 Mar 2026), while trading and settlement remain on the Colombo Stock Exchange. The bond, Sri Lanka's first Blue Bond, targets ocean/coastal sustainability projects and has an expected Fitch rating of 'A(EXP)(lka)'.

Assetline Finance PLC opened its 63rd branch in Athurugiriya, expanding its nationwide network to 63 locations and supported by over 2,500 David Pieris Group customer touchpoints. The branch will offer vehicle financing, auto loans, solar financing and other retail finance products.

St. Anthony’s Service launched a dedicated website (www.stanthonysservice.lk) and social media platforms to centralise service requests, enable online quotes/inquiries and introduce an annual subscription maintenance plan for solar PV customers.

Hayleys Mobility (Hayleys group) has partnered with Kaiyi Auto to launch the fully electric Kaiyi eVibe in Sri Lanka at an introductory price of Rs. 7.9 million. The sub-compact EV offers a 300 km CLTC range and the first 100 buyers receive a complimentary 3kW solar system.

John Keells CG Auto launched the BYD SEALION 8 seven-seat plug-in hybrid SUV in Sri Lanka on 10 March 2026, including the high-performance DM-p variant; the model is now available at BYD showrooms nationwide.

Nestlé Lanka will invest Rs. 9 billion over the next four years to expand its Pannala manufacturing facility, focusing on scaling coconut milk powder production for export. The company said it will not reduce staff, supports thousands of farmers and aims to be 100% plastic neutral by 2026.

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.

UN Global Compact Network Sri Lanka launched a Country-Level Environmental and Supply Chain Sustainability Working Group strategy and held January 2026 kick-off sessions to mobilise 70+ companies across five thematic working groups. The initiative focuses on climate mitigation/adaptation, water and ocean stewardship, and supplier capacity building to advance sustainability and regulatory-aligned disclosure.

Nestlé Lanka celebrates 120 years of operations in Sri Lanka and reports it now manufactures over 90% of the products sold locally. The company highlighted sustainability steps including a biomass boiler commissioned in 2024, 100% renewable electricity at its Kurunegala facility, and a target to be 100% plastic neutral by 2026.

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.

Overseas Realty (Ceylon) PLC's World Trade Center Colombo won the Gold Award for the Most Energy Efficient Building in Sri Lanka at the National Energy Efficiency Awards 2025. The company's Head of Facilities was also named Outstanding Energy Manager, recognising its energy-management measures and reduced consumption.

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.

The Government will bring most provisions of the Sri Lanka Electricity Act No. 36 of 2024 into operation from 9 March 2026, enabling a legal framework for power-sector restructuring. The move follows the Preliminary Transfer Plan (5 Jan), Cabinet approval of national electricity/tariff policy (3 Mar) and CEB planning documents (18 Feb).

CBSL Governor P. Nandalal Weerasinghe urged targeted South Asia integration by boosting energy links and digital connectivity, highlighting untapped regional renewable potential and India’s digital advances as immediate, practical areas for cooperation.

A Gazette issued by Energy Minister Kumara Jayakody transfers the functions, duties and assets of the Ceylon Electricity Board to six successor companies, with the Sri Lanka Electricity Act No. 36 of 2024 taking effect on March 9, 2026. The move follows completion of the preliminary transfer plan, cabinet approval of national electricity and tariff policies, and finalization of key power planning documents.

John Keells CG Auto (part of John Keells) received 835 BYD ATTO 1 electric cars—the largest single consignment—some available for immediate delivery, expanding NEV availability amid strong BYD demand and market share gains in Sri Lanka.

Norway's Deputy Foreign Minister Andreas Motzfeldt Kravik urged rule-of-law and investment-climate reforms to attract Norwegian capital and signalled plans to deepen trade, maritime cooperation, fisheries monitoring, renewable-energy and technology partnerships with Sri Lanka.

Government unveiled structural reforms at the AmCham CEO Forum aiming for 7% annual growth and a LKR 200 billion economy, including a 70% renewable-energy target by 2030, bank consolidation, port upgrades and support for IT, pharma and SME finance (LKR 300m ITIA allocation).

Ainsley J. Alles, deputy chairman of Senaratne Insurance Brokers Ltd, launched his book "Insurance Mastery" and emphasised the importance of disciplined underwriting and professional training. He highlighted emerging exposures such as renewable energy and cyber risk and warned that aggressive growth without underwriting discipline undermines long-term resilience.

Prime Minister Harini Amarasuriya said enhancing energy efficiency is a national priority and the government aims to raise renewable energy to 70% by 2030. The minister noted Ceylon Electricity Board restructuring is in its final phase and energy-efficiency awards were presented to public and private institutions.

Sierra Cables PLC posted nine-month revenue of Rs. 12 billion (up 68% y/y) and profit for the period of Rs. 2.1 billion (up 105%), with EPS rising to Rs. 3.88. The company, now a 2025 subsidiary of Browns Investments, expanded exports, earned UL 44 certification and retained a Fitch A+ (lka) rating.

WindForce PLC appointed Sanjay Kulatunga as an Independent Non-Executive Director, a move the company says will strengthen its governance, strategic oversight and long-term decision-making.

Lanka IOC PLC appointed K. Raghu as its Executive/Managing Director, replacing Dipak Das. Raghu brings over 26 years' downstream petroleum experience and will focus on growth, operational excellence and advancing sustainable energy solutions.

Commercial Bank of Ceylon (COMB.N0000) won the Gold Award in the Banking Category and was named Overall Runner-Up at the ACCA Sri Lanka Sustainability Reporting Awards 2025 for its 2024 Annual Report. The recognition highlights the bank's embedding of sustainability across lending, risk, operations and its carbon-neutral status.

AmCham Sri Lanka CEO Forum 2026 convened 200+ leaders calling for reforms to restore economic confidence, targeting 7% annual growth and a 70% renewable-energy share by 2030. Panels highlighted SME support measures (Rs.300m, 'Level Up'), banking consolidation, infrastructure/port upgrades and FDI-attracting reforms.