News & market updates

President Anura Kumara Dissanayake convened the Committee on Economic Surveillance to review the economic fallout from the Middle East conflict and warned Sri Lanka can guarantee uninterrupted fuel supplies for only about two months under current conditions. The committee examined rising oil prices, maritime supply-chain disruptions and trade risks and discussed urgent measures to stabilise domestic markets.

Profood Propack & Agbiz Knowledge Hub 2026 will be held 21–23 Aug 2026 at BMICH, Colombo, with SLFPA and LECS planning an expanded exhibition focused on food processing, packaging, agriculture and SME support; Cargills Ceylon PLC is listed as a platinum sponsor and Hayleys’ agri unit featured among awardees.

Gulf oil producers have lost at least $15.1 billion in revenues since the Middle East war began, as closures around the Strait of Hormuz have trapped about 20% of global LNG and shut in roughly 10% of global oil output. Alternative export routes and storage are limited, so losses are likely to increase as attacks spread.

The President chaired the Committee on Economic Surveillance to address risks from the Middle East conflict, highlighting rising global oil prices, maritime supply-chain disruptions and impacts on international trade and the domestic market. Attendees included the Central Bank Governor, Treasury Secretary and heads of petroleum, ports, export, tea and tourism agencies.

The upcoming National Export Development Plan targets over 10% annual export growth and will expand focus from traditional pillars (apparel, tea, rubber, coconut) into new sectors — automotive components, electrical/electronic products, mineral-based industries, processed food & beverages, spices and gems & jewellery — while diversifying markets toward Africa, Asia and the Middle East.

The EDB convened a high-level meeting with exporters, industry associations and logistics stakeholders to address shipping and supply-chain disruptions to Middle East markets from the regional conflict and to identify coordinated support measures for exporters.

Brent crude topped $100/bbl, jumping over 9% intraday despite IEA members releasing about 400 million barrels from strategic reserves. Asian equities fell — Japan's Nikkei ~1.6% and Australia's ASX200 >1.3% — as markets priced higher inflation and potential rate pressure.

PIM concluded PIMARC 2026 on Feb 19 as a joint event with ICBM, focusing on 'Inclusive and Responsible Management' and a 'Circular Economy and Digital Future'; the conference launched PIM Teaching Case Studies 2026 (11 cases) and featured government and industry speakers including the Finance Secretary and leaders from Brandix, CBL and Dialog.

Ceylon Chamber of Commerce hosted a high-level networking evening at the Cinnamon Grand that brought nearly 50 foreign missions together with business and government leaders to promote trade, exports and public–private–diplomatic collaboration. Minister Arun Hemachandra highlighted Sri Lanka’s steady economic recovery and strengthened fiscal management.

Dipped Products PLC (DIPD.N0000) rang the Colombo Stock Exchange opening bell to mark its 50th anniversary. The manufacturer of protective handwear and plantation services, a member of Hayleys PLC (HAYL.N0000), serves customers in over 70 countries.

The Export Development Board held a high-level meeting with major export sector associations to identify support for exporters facing disruptions to shipments to Middle East markets due to the regional conflict. Participants included tea, spices, fruits & vegetables, food processors, coconut-product associations and shipping/freight forwarders, and issues will be taken to the Export Development Council of Ministers.

ADB will provide more than $1 billion annually to Sri Lanka from 2026–2029 to support macroeconomic stability, private-sector growth, education, resilient infrastructure and a major digital transformation program. The bank is fast-tracking emergency assistance for Cyclone Ditwah recovery and will support Sri Lanka's RCEP accession.

SLPA Chairman Dr. Parakrama Dissanayake convened a special meeting with SLPA officials, terminal operators and international shipping lines to review measures to ensure uninterrupted Port of Colombo operations amid Middle East tensions.

The Economic Monitoring Committee has started assessing the economic fallout from the Middle East crisis, flagging risks to foreign-exchange flows, higher energy costs and impacts on remittances, trade and tourism that could affect market stability.

Fitch forecasts global growth slowing slightly to 2.6% in 2026 (from 2.7% in 2025) if the recent oil-price shock is short-lived, and raises its 2026 Brent oil forecast to USD70/bbl. It also expects US growth of 2.2%, China 4.3% and anticipates two Fed cuts in 2026 under the base case.

Teejay Lanka Plc has appointed Teruo Funahashi as a Non-Executive Director. Funahashi is a long-time Toray executive and is set to join Pacific Textiles as executive director, chairman and CEO from 1 April 2026.

Hayleys Fibre PLC appointed Ruwan Rajapakse as Managing Director and Executive Director, effective 1 April 2026. Rajapakse brings over 30 years' experience including senior roles at the Jiffy Group, Hayleys Agri, Hayleys Advantis and Maersk, and holds an MBA and CMA.

SLFPA and LECS will stage Profood Propack & Agbiz Knowledge Hub 2026 at BMICH, Colombo from 21–23 August 2026. The sector-wide expo, endorsed by the Ministry of Industries, focuses on food processing, packaging and agri innovation and lists Cargills (Ceylon) Plc among its platinum sponsors.

The Ceylon Chamber of Commerce hosted a high-level networking evening at the Cinnamon Grand in Colombo with nearly 50 foreign missions and government representatives to promote trade, exports and public–private–diplomatic collaboration that could open international market opportunities for Sri Lankan businesses.

Dipped Products PLC (DIPD.N0000) rang the Colombo Stock Exchange opening bell to mark its 50th anniversary. DPL, a Hayleys PLC group company, is a leading protective handwear manufacturer and plantation manager exporting to over 70 countries.

Suren Chandraratna was appointed Chairman of the Chamber of Lankan Entrepreneurs (COYLE). He will lead under the theme 'Bridging Generations, Building Futures', focusing on mentoring next-generation entrepreneurs and expanding international trade and partnerships.

Asia Securities convened 150+ investors and corporate leaders at the Sri Lanka Investor Conference 2026 to present a constructive capital-market outlook, with speakers citing roughly 4% GDP growth prospects for 2026. Panels highlighted construction, banking/finance, consumer and digital sectors as key growth drivers and projected strong corporate earnings expansion.

Sri Lanka's Industry and Entrepreneurship Development Ministry and EDB held diplomatic meetings to promote Sri Lanka Expo 2026 (18–21 June 2026 at BMICH) and attract international buyers and investors. The outreach targeted participation across apparel, tea, spices, rubber, ICT services, food & beverages and industrial manufacturing.

Ceylon Chamber of Commerce handed over its historical records (1839–1973) to the National Archives Department. The archive contains correspondence, minutes, reports and ledgers documenting the evolution of trade, tea and rubber auctions, and business-driven infrastructure initiatives.

ADB will provide more than $1 billion annually to Sri Lanka from 2026–2029 and is fast-tracking an emergency assistance loan to help rebuild after Cyclone Ditwah. Funding will target macro stability, private-sector growth, digital transformation and resilient infrastructure, and support RCEP accession.

President Trump announced a 168,000 bpd refinery to be built at Brownsville backed by India’s Reliance, which signed a binding 20-year offtake; America First Refining said it plans to break ground in Q2.

The Economic Surveillance Committee met at the Presidential Secretariat to discuss urgent measures to stabilise Sri Lanka's economy amid the Middle East conflict, focusing on risks from fuel imports, remittances, trade, tourism and export links.

The Government has formed an Economic Surveillance Committee chaired by Labour Minister Dr. Anil Jayantha Fernando to monitor and recommend responses to the economic fallout from the Middle East conflict, which risks higher fuel costs, reduced remittances (about 1 million migrant workers) and FX pressures. UNCTAD warns Strait of Hormuz disruptions have pushed Brent above $90 and could raise freight and fertiliser costs, amplifying spillovers to trade and vulnerable economies.

Cabinet approved a relief package to support replanting of tea, rubber and coconut after extreme weather, offering up to Rs. 500,000/ha for tea, Rs. 400,000/ha for rubber and Rs. 750,000/ha for coconut. Payments will be made based on assessed losses to help restore production and protect export revenues.

The Ceylon Chamber Export Barometer Survey 2026 found more than half of exporters view Sri Lanka's investment climate as worse than peers, citing policy/regulatory uncertainty, labour and energy costs. The 90-respondent survey shows exporters are diversifying and seek a National Single Window, digital systems, capacity-building and FTAs to improve competitiveness.