News & market updates

ShowLab Studio opened Sri Lanka’s first purpose-built previsualisation, lighting programming and show integration facility to design, program and test entire live productions before venue entry. The studio uses industry-standard tools (grandMA3, 3D real-time visualiser, LED/projection simulation, timecode) to reduce rehearsal time, cost and technical risk.

China Duty Free Group opened CDF Duty Free at Port City Colombo in September 2024 with a USD 5 million investment and has served nearly 120,000 travelers. The downtown store offers international brands and a digital Customs-verified 'Pre-Order & Collection' service for pickup at Bandaranaike International Airport, serving arriving/departing passengers and diplomats.

IMRA Foundation opened applications for IMRA Awards 2026, inviting Muslim women across nine sectors with applications closing on 1 July 2026. The awards ceremony is scheduled for 6 September 2026 at the Kingsbury Hotel; categories include Hospitality & Tourism, Healthcare, Banking & Finance, Education, Media, Architecture, Arts & Culture and Entrepreneurship.

The Sri Lanka Export Development Board has rescheduled Sri Lanka Expo to 14–17 January 2027 at BMICH citing geopolitical uncertainty. The event is expected to host about 750 local exporters and 1,500 international participants across apparel, tea, ICT, pharma, renewable energy and other sectors.

John Keells Holdings chair Krishan Balendra will lead a 19-member Sri Lankan corporate delegation to Mumbai for the India–Sri Lanka Business Forum on 13 May to engage Indian counterparts on trade, investment and partnerships. Sri Lanka and India have also discussed a proposed $450m post-conflict reconstruction package.

The Sri Lankan rupee has depreciated 3.6% against the US dollar year-to-date, with an indicative USD/LKR spot rate of Rs.321.87 (buy Rs.318.03, sell Rs.325.64) as of 8 May 2026 — the weakest level since 16 January 2024.

Sri Lanka's official reserve assets fell $267m to $6.76bn in March, with foreign currency reserves down $295m to $6.54bn; the CBSL was a net seller of dollars in April (net $13m). Predetermined near-term FX obligations total $2.1bn and forward short positions amount to $3.87bn.

Workers' remittances rose to $767.9m in April 2026 (up 19% YoY) and exceeded $3.06bn in Jan–Apr (up 24.5% YoY), marking record inflows that bolster Sri Lanka's foreign-exchange reserves amid weak exports and tourism.

Tony Pellé delivered over 6,500 custom leather items — including more than 5,000 pairs of shoes, belts and coasters — for Cinnamon Life staff, all manufactured locally using sustainably sourced leather and plant-based tanning and customized to match staff uniforms and operational needs.

Emirates unveiled a large UAE flag livery on A380 aircraft A6-EVG as part of its 'This Flag Will Always Fly' campaign. The special-liveried A380 has already flown to New York and Brisbane and will operate to additional A380 destinations.

RIUNIT hosted 'Driving Growth Through Real Estate: 10 Year Plan' at the Port City Sales Gallery on 5 May 2026 to launch a decade-long roadmap to attract international real estate investment. The forum, sponsored/attended by major developers including Prime Group and RIL Properties, focused on Port City, affordability and sector synergies.

Colombo Stock Exchange was flat at midday: ASPI up 0.01% to 23,065 while banks led turnover at Rs.2.85 billion. Top movers included CDB (+4.65%), JKH (+0.49%), HHL (+1.21%) and NTB (+1.08%), while HAYL, COMB and DFCC fell.

The Ceylon Chamber will lead a senior corporate delegation to Mumbai for the India–Sri Lanka Business Forum on 13 May 2026, with leaders from John Keells, Aitken Spence, Hayleys, Sierra Cables and Vidullanka among participants to engage Indian investors on trade and investment opportunities.

Nüwa at City of Dreams Sri Lanka received official 5-Star recognition, marking a milestone for the ultra-luxury hotel. The property, which offers 113 rooms and suites, held a celebratory press conference attended by senior resort leadership and tourism officials highlighting its role in Colombo's luxury travel offering.

HSBC lit and branded the Colombo Lotus Tower as part of a campaign to 'take the best of Sri Lanka to the world'. The move accompanies HSBC's repositioning of its Wholesale Banking in Sri Lanka after selling its Retail Banking portfolio.

Lanka Hospitals presented its 2025 Annual Report and the 2026–2030 'HEARTS 360' five-year strategic roadmap, reporting its highest-ever revenue in 2025 and contributing over Rs. 1.4 billion to the State Treasury. The group highlighted record clinical volumes (802 cardiothoracic surgeries) and plans for digital transformation and medical tourism expansion.

Vietjet Air will launch the first direct Colombo–Ho Chi Minh City service in August 2026 with four round-trip flights per week, enhancing connectivity. The route is intended to boost Sri Lanka–Vietnam trade, investment and tourism and link Colombo to Vietjet’s Asia‑Pacific network.

The PUCSL approved an 18% electricity tariff rise for consumers using over 180 kWh, effective May 11. The regulator — after a prior 25.3% April hike — ordered the National System Operator to cover coal-shortage extra costs payable to the Electricity Generating Company, and introduced relief for low-use households, EV charging bands, and demand-charge changes for hotels and SMEs.

Vietnamese President Tô Lâm called for a new phase of strategic economic cooperation with Sri Lanka, urging direct Colombo–Ho Chi Minh flights and closer ties in logistics, manufacturing, food processing, textiles, tourism and services to boost trade and investment. A Sri Lanka–Vietnam trade and tourism forum was held in Colombo to advance these plans.

Prime Minister Harini Amarasuriya set a bilateral trade target of $1 billion with Vietnam by 2030. She highlighted Sri Lanka's economic recovery (5% real GDP growth in 2025, 2.36m visitor arrivals) and invited Vietnamese investment across manufacturing, tourism, IT and logistics.

Vietjet Air announced its first direct Colombo–Ho Chi Minh City service, launching in August 2026 with four round-trip flights per week. The route is expected to boost tourism, trade and people-to-people connectivity between Sri Lanka and Vietnam.

Colombo Port City officials will travel to Dubai on June 11 to meet investors as they seek further foreign investment into the Colombo Port City economic zone.

Sri Lanka and Vietnam set a target to increase bilateral trade to $1 billion by 2030. Discussions covered renewable energy, digital infrastructure/AI, manufacturing and agriculture; Vietnam donated 100 tonnes of fertilizer and new airline routes to Colombo are planned.

Parliament approved regulations granting 30-day free visa access to travellers from 40 countries; the Treasury will forgo about $75m in visa fees while the government expects 247,000 additional tourist arrivals, ~$317m in tourism earnings and a net gain of ~$242m.

Aitken Spence PLC is partnering with Oceanswell to present 'Into the Ocean’s Depths', a free two-night ocean storytelling event in Colombo on 9–10 May 2026. The event, organised with Aitken Spence Travels, features international marine scientists speaking on sharks, whales and the deep sea; pre-registration required.

Vella has been certified as a Great Place to Work on its first attempt, recognising its people culture across its hospitality, tea, retail and leisure brands.

Deputy Minister of Tourism says Sri Lanka must reposition to capture more of India's outbound travel—only about 531,000 of 32.7 million Indians travelling overseas in 2025 visited Sri Lanka. He highlighted AI/digital trends reshaping demand and flagged agriculture, marine and the creative economy as growth areas.