News & market updates

SEC, CSE and CA Sri Lanka signed an MoU to implement XBRL-based reporting for companies listed on the Colombo Stock Exchange, targeting rollout in the latter part of 2026. The CSE has procured and customised the XBRL platform and is completing UAT while a joint committee finalises the taxonomy and implementation framework.

The CBSL's FIU warned from 2021 that advance import payments were being used for trade-based money laundering, preceding CID findings that about $715m was transferred overseas via fraudulent import transactions (2023–26). Officials cited limited Customs digital records and weak bank compliance and said tougher beneficial ownership, importer registration and multi-agency coordination measures are being introduced.

Opposition MP Dr. Harsha de Silva warned that new import control regulations requiring importer registration and extra bank checks will burden legitimate businesses and may not fix enforcement gaps that allowed about $715m in fraudulent advance import remittances to leave Sri Lanka.

MullenLowe Group Sri Lanka was named Sri Lanka's highest-ranked agency on the Effie Index 2025, placing in the Global Top 100 and APAC Top 20 with 124 points as an individual office (221 combined across six verticals).

Kaspersky research of 7,200 respondents finds 52% of Gen Z have experienced device, account or data attacks. Despite 67% using smartphones as their main device, only 27% use mobile antivirus and 28% regularly back up smartphone data.

3Rive Technologies has become an official partner in Anthropic's Claude Partner Network, expanding its regional AI-first legal technology services and planning public Claude workshops and community building in Colombo.

TECNO launched the CAMON 50 Pro in Sri Lanka, featuring AI 60X Super Zoom, SuperZoom FlashSnap, a 50MP Sony Ultra Night Camera, IP68/IP69K rating and priced at LKR 159,999. The phone is available islandwide through authorised TECNO retailers and targets young users with advanced camera and AI features.

Samsung Sri Lanka will open pre-orders soon for the Galaxy Z Fold8 Ultra and Galaxy Z Fold8. Pre-orders will be available through authorised Samsung stores and dealers islandwide, with details on availability and customer benefits to be announced.

China Unicom Beijing and Huawei launched the world's largest 5G-A 100 MHz GigaUplink commercial network, recording a 100 MHz uplink effective ratio of 83%, peak uplink 1 Gbps and average uplink 397 Mbps in a 34 km drive test. The deployment used 3.5 GHz + 2.1 GHz SUL and demonstrated support for AI device and real-time cloud scenarios.

Janashakthi Finance PLC (BFN.N0000) marked its 45th anniversary, highlighting its rebranding from Orient Finance, strong customer sentiment, industry awards and plans to accelerate digital transformation and financial inclusion supported by parent JXG (JXG.N0000).

The Ceylon Chamber of Commerce will host a business networking session with a 30-member Indian Chamber of Commerce delegation on 28 July at the Hilton Colombo Residences to connect Sri Lankan firms with Indian companies. Participating sectors include manufacturing, construction, healthcare, IT, renewable energy and tourism.

Dr Binod Chaudhary said his group's BYD venture with John Keells expanded into 25 countries within a year and credited the partnership for that growth. He urged Sri Lankan boards to pair sound governance with global ambition, citing Wai Wai's export success and the need to embrace AI.

University of Leicester Vice-Chancellor Prof. Sir Nishan Canagarajah urged Sri Lankan corporate boards to become faster, more agile and globally focused, calling for calculated risk-taking, greater diversity of thought, stronger scenario planning and cultures that welcome challenge.

Deputy Minister Eranga Weeraratne urged boards and CEOs to set the tone on data privacy and embed protection into digital systems from the start, calling for stronger digital literacy and investment in secure infrastructure as Sri Lanka expands digital services.

The Securities and Exchange Commission, Colombo Stock Exchange and CA Sri Lanka signed an MoU to implement XBRL-based digital reporting for all CSE-listed companies, with the CSE completing UAT and a rollout targeted for the latter part of 2026.

Commercial Bank of Ceylon PLC won six awards at the 2026 Asian Banking and Finance Awards — the most by any Sri Lankan bank. The honours cover retail, wholesale and corporate banking and recognise its AI SME credit underwriting, green financing (including a Rs.15 billion green bond) and a loan book above Rs.2 trillion.

Colombo market extended its rebound as the ASPI rose 0.24% (49.81 pts) to 21,199.37 and the S&P SL20 gained 0.22% to 5,945.87, with turnover about Rs.1.1bn and foreigners net sellers of Rs.188.6m. Top contributors included HNB, CARS, CINS, NDB and TKYO; NDB, SAMP and PKME gained while MELS fell and JKH closed flat.

CRIB hosted its Annual CEOs Forum and Institutional Rating Awards 2026 and officially launched the MyCRIB mobile app to give citizens real-time access to credit profiles and scores. The event, attended by CEOs across banks, NBFIs, insurance, telecoms and utilities, emphasised digital transformation, AI, data governance and financial inclusion.

Ceylon Chamber will host a business networking session with a 30-member Indian Chamber of Commerce delegation on 28 July at the Hilton Colombo Residences, offering Sri Lankan firms opportunities to explore trade, investment and partnerships across sectors including manufacturing, construction, healthcare, IT, renewables and tourism.

Despite political backlash, the global shift to cleaner energy and converging sustainability disclosure standards (ISSB, EU rules) is accelerating, driven by large investors and prompting manufacturers and financiers to adopt carbon accounting, taxonomy-aligned finance and digital product passports.

Boards and regulators are urged to treat cybersecurity as a governance priority — giving CISOs stronger board access, mandatory incident reporting and minimum standards — because breaches can disrupt hospitals, payments systems and critical infrastructure.

CICT has fully electrified its RTG crane fleet at the Port of Colombo and is converting diesel ITVs to electric, adding charging stations, energy-management systems and water-reuse measures as part of a broader sustainability, community and biodiversity programme.

Solar and wind are now the cheapest sources of new electricity generation in most parts of the world, shifting renewable energy from a reputational choice to a cost-saving, price-stability option for companies. Firms are adopting rooftop solar, PPAs and storage across manufacturing, retail, logistics and large IT users to cut costs and meet rising disclosure rules.

Electronics industry is shifting ESG from reporting to supply‑chain and operational management, driven by market pressure and EU regulations. The updated IPC-1401B standard aims to help manufacturers embed ESG across procurement, manufacturing and governance.

Global sustainable consulting is forecast to reach $27.21bn by 2034, growing at a 9.5% CAGR from $11.79bn in 2025 as mandatory ESG rules and decarbonisation drive demand for sustainability advisory. Manufacturing, energy, infrastructure/green building and professional services are the main demand centers, with consultancies expanding digital and operational capabilities.

Green finance is emerging in Sri Lanka to channel investment into renewable energy, green bonds, ESG-linked lending and sustainable infrastructure to boost climate resilience and economic recovery. Banks, capital markets, developers, tourism operators and tech firms are highlighted as key participants.

Sri Lanka's large EEZ and strategic maritime location offer opportunities to grow a Blue Economy across fisheries, ports/logistics, tourism, aquaculture, marine biotechnology and ocean renewables. Realising this will require ESG-aligned investment, tech adoption, sustainable management and coordinated policy.

Sri Lanka's export earnings rose 7.96% YoY to $9.01bn in Jan–Jun 2026, with June exports at $1.65bn (up 12.5% YoY). Merchandise exports were $7.07bn (up 8.95%) and services $1.93bn (up 4.49%), led by ICT/BPM, EECs, processed foods and coconut products while tea fell 5.69%.

Sri Lanka's Industry Minister Sunil Handunneththi visited India (14–18 July 2026) to advance cooperation in textiles, manufacturing, agribusiness, technology, investment and tourism. He met Indian textile ministers at BharatTex, toured RIICO's industrial park and a Mega Food Park, held a FICCI roundtable and discussed direct air links and investment opportunities.

Delmege Insurance Brokers warns Sri Lankan directors face rising personal liability in 2026 from the PDPA, Companies Act obligations and cyber threats, and recommends Directors' & Officers' and Cyber insurance to protect boards and cover legal defence costs.