News & market updates

World Bank report says private sector-led adaptation could avoid about one-third of South Asia's projected climate damage and urges policy reforms to expand finance, remove market barriers and invest in infrastructure and services such as roads, drainage, power, mobile networks and healthcare.

Pakistan's Cabinet approved procuring an additional 270,000 vials of 1-gram Meropenem injection from Genix Pharma, raising the total contract to 1.17 million vials. The 30% increase responds to a surge in demand to ensure uninterrupted hospital treatment across the country.

Connect to Care Global (CTCG) officially launched to support international agencies and regional partners across the Global South in a post-aid context, delivering projects (including in Sri Lanka) and focusing on politically smart approaches, digital solutions and South–South cooperation.

ASPI rose 234 points (1.4%) to 17,214 on turnover of Rs.7.37bn, led by banking stocks with HNB, SAMP and COMB among top contributors. Turnover was 72% above the monthly average and foreigners recorded a net outflow of about Rs.273.6m.

CIC Holdings reported consolidated revenue of Rs.83.3 billion for FY25, up 9.0% YoY, with gross profit of Rs.22.2bn, EBITDA of Rs.12.4bn and PAT of Rs.6.6bn (PAT lower due to a FY24 one-off bargain purchase gain); net finance costs fell 38% to Rs.1.6bn. Crop Solutions remained the largest segment (41% of revenue) with broad-based growth across its five core businesses.

DIMO.N0000 delivered Sri Lanka’s first Echosens FibroScan® Expert 630 to Hemas Hospital Wattala, marking the introduction of advanced non-invasive liver assessment capability. As sole Echosens agent, DIMO will provide installation and ongoing after-sales service to support the new liver centre.

On World Vape Day 2025 the author urges Sri Lankan policymakers to adopt evidence-based vaping regulations and harm-reduction strategies, citing Public Health England's claim that e-cigarettes are 95% less harmful than cigarettes to accelerate smoking decline and improve public health.

World Bank report says private-sector-led adaptation in South Asia could reduce about one third of projected climate damage and calls for policy reforms to expand finance, weather-indexed insurance, resilient technologies and public infrastructure like roads, power and digital connectivity.

Cabinet approved two industrial projects in Kalutara district worth Rs.3 billion: a 350-acre Ingiriya industrial zone with Rs.2.5b for manufacturers (automobile, rubber, pharmaceutical, mixed) and a 24-acre second phase at Raigama Milleniya with Rs.500m.

The Export Development Board held a networking and knowledge-sharing session on 22 May 2025 for 100 new exporters across five product sectors (tea, spices/coconut, processed foods/cashew, ornamental fish, herbal/ayurvedic), featuring industry speakers from leading exporters.

The National Chamber of Commerce of Sri Lanka will host the Bangladesh–Sri Lanka Business Forum and B2B meetings on 18 June with a 24-member Dhaka Chamber delegation to explore trade, import/export and joint‑venture opportunities across agriculture, construction, IT, renewable energy, tourism, FMCG and pharmaceuticals.

CIC Holdings (CIC) reported FY25 consolidated revenue of Rs.83.3 billion, up 9.0% YoY, with EBITDA of Rs.12.4 billion and PAT of Rs.6.6 billion (prior-year included a Rs.5.3bn one-off bargain purchase). Crop Solutions contributed 41% of revenue and net finance costs fell 38% to Rs.1.6bn.

Colombo bourse opened June higher as ASPI rose 0.74% (125 pts) and S&P SL20 gained 1%, with turnover Rs.5.8bn and foreigners net selling ~Rs.3bn. Top turnover leaders were Access Engineering, Capital Alliance, Panasian Power, Commercial Credit and Alpha Fire, with banks and capital-goods stocks driving the rally.

Sunshine Holdings reported consolidated revenue of LKR 59.3 billion for FY25, up 7.0% YoY and led by 17.3% growth in Healthcare which contributed 55% of group revenue. Group EBIT rose 7.1% to LKR 9.3 billion while PAT fell to LKR 5.9 billion after a 48.9% increase in income tax.

eChannelling PLC reported record Q1 2025 revenue of Rs 67 million, up 17% in the quarter, with appointment volumes rising 8% YoY. The company expanded by onboarding 22 hospitals and 23 pharmacies and launched ePremium, eHospital and eSubscription digital services.

Future Minds held its 20-year sponsor launch on 29 May, signing partnerships with 23 educational and commercial sponsors including Sampath Bank and Asiri Academy; the Colombo exhibition will run 6–8 June at BMICH.

AIA Insurance marks the 30th anniversary of its AIA Poson Safety Programme, deploying over 500 trained lifeguards across 39 lakes and expanding the initiative beyond pilgrimage sites nationwide. The programme offers three months' accidental-death coverage for lifeguards and includes a dedicated train service and breast-cancer awareness activities.

Ceylon Chamber Vice Chairman Krishan Balendra said the private sector is ready to pursue long-term trade and investment partnerships with Chinese firms, noting strong Chinese interest in Sri Lankan exports and opportunities in clean energy, healthcare, ICT/BPM and infrastructure. He invited the delegation to the Sri Lanka Economic and Investment Summit in December 2025 and cited a 5% GDP growth and improved reserves as boosting investor appeal.

The China International Chamber of Commerce for the Private Sector (CICCPS) met Sri Lanka's Board of Investment to offer facilitation of FDI and explore investments across manufacturing, renewable energy, tourism, education, agriculture, minerals and pharmaceuticals, mobilizing its ~500 members. BOI highlighted digitization, zone operations and organizational reforms to ease investor onboarding.

Colombo market rose with ASPI +0.6% and S&P SL20 +0.9% on turnover of Rs.6.4bn, led by Sampath Bank, LOLC, Hemas and Sierra Cables; foreigners were net sellers (Rs.218m outflow). Several firms made gains and interim dividends were announced (RIL, UML).

University of Surrey and IIHS Multiversity launched a BSc (Hons) Nursing Studies (Top-Up) programme in Sri Lanka allowing IIHS Advanced Diploma in Nursing graduates to progress to a Surrey-awarded honours degree. Graduates can sit the NMC test of competency and the partnership includes joint delivery, CPD courses and faculty/student exchanges.

Vision Care opened a new branch inside New Philip Hospital in Kalutara, expanding local access to professional eye care and retail eyewear. The branch features modern diagnostic equipment and international eyewear brands such as Ray-Ban and Polaroid.

Thushira Raddella handed over the presidency of COYLE to his successor Manjula after launching programs to support SMEs, youth entrepreneurship, overseas hubs and an Entrepreneur Development Center. Raddella said Raddella Holdings will shift toward export-oriented pharmaceutical/biotech manufacturing and urged government action on investment facilitation and currency stability.

TikTok launched an in-app guided meditation feature and pledged $2.3 million in ad credits to a global mental health education fund supporting 31 organizations in 22 countries. The Sleep Hours meditation is on by default for users under 18, and an internal test found 98% of teens kept the feature on.

Sunshine Holdings PLC (CSE: SUN) concluded a three-month 'Smart Life Challenge', an HR-led fitness and wellness program engaging employees across business units with professional trainers and nutritionists; the initiative will continue as an ongoing program.

The Government has barred locally qualified G.C.E. A/L students from enrolling in KDU's Medical Degree this year, cancelling planned intakes and causing an estimated Rs. 2 billion income loss to KDU. Many students are expected to study medicine overseas, increasing forex outflows.

NDB Bank has been named the Official Banking Partner for the SLIM SME Development Awards (SMEDA) 2024. The partnership aims to support and promote SMEs across sectors such as IT/digital, exports, FMCG, hospitality and healthcare.

Hemas Holdings PLC reported FY25 cumulative earnings of Rs. 8.1 billion, up 31.9% year-on-year, while group revenue declined marginally and Fitch reaffirmed its 'AAA (lka)' rating. Healthcare and Mobility drove profit growth; the group declared a final dividend of 70 cents and a 5-for-1 share sub-division.