News & market updates

TruRout launched Sri Lanka's first zero-commission ride-hailing platform with a subscription model (daily fees: Rs.250 three‑wheelers; Rs.350 cars; Rs.400 SUVs; Rs.500 vans/lorries) allowing drivers to keep 100% of cash-ride earnings. The app also offers transparent fares with no surge, an integrated zero-commission cargo service (TruMove), and referral/loyalty incentives.

The Ceylon Chamber's Commercial Documents Registration Division has introduced a Free Sale Letter for pharmaceuticals to help Sri Lankan pharma manufacturers and exporters meet export certification and compliance requirements. Its 24/7 e-service platform also certifies Certificates of Origin and other export documents for exporters, freight forwarders and logistics providers.

Dialog Enterprise (Dialog Axiata PLC) renewed its strategic partnership with the National Chamber of Exporters to accelerate digital transformation for Sri Lankan exporters. The collaboration will deliver converged connectivity, cloud, cybersecurity, data analytics, AI and IoT solutions and provide workshops targeting SME exporters.

Arcasia Investment & Trading and ATX Partners bought 1,880,693,010 shares (50.16%) of Industrial Asphalts at LKR0.40 per share and will make a voluntary offer for the remaining shares, subject to regulatory approval. The stock last traded at LKR0.70.

A 31-member delegation led by India's FIEO visited Sri Lanka (July 8–10) to explore new bilateral trade and investment opportunities and formally exchanged an MoU with the National Chamber of Exporters to boost institutional cooperation. Delegates covered pharmaceuticals, engineering, apparel, food/agriculture and infrastructure.

Sri Lanka's rupee closed at 335.70/90 to the US dollar, slightly stronger than 336.00/60 the prior day, while government bond yields were largely flat. Yields across quoted maturities ranged around 10.30–11.80% with little change on the day.

The Paddy Marketing Board will start buying Yala paddy from July 13 at Rs120/kg for Nadu, Rs130/kg for Samba and Rs140/kg for Keeri Samba. Purchases begin in Ampara and Ruhuna (and parts of Mullaitivu and Trincomalee) with wider operations from July 20; the government allocated Rs6bn to the PMB and Rs10bn via concessional state-bank loans to help millers and 143 warehouses will be used.

Nations Trust Bank (NTB.N0000) appointed Ananda Jayawardana as an Independent Non-Executive Director; he brings 25+ years' experience in leveraged & structured finance, debt capital markets and corporate banking.

Colombo West International Terminal received two ship-to-shore electric cranes and seven cantilever rail-mounted gantry cranes as part of its Phase 2 expansion to boost capacity and automation. CWIT — a ~USD800m PPP including John Keells Holdings — handled 1 million TEUs in its first year.

Sri Lanka's rupee was quoted at 335.75/90 to the US dollar in the spot market, firmer than 336.00/30 the previous day; dealers said bond yields were slightly higher, with the 15.12.2029 bond around 11.05–11.15% and 2030–2033 maturities quoted near 11.15–11.85%.

Mediterranean Shipping Co. (MSC) is in talks to acquire a significant stake in Hambantota International Port (CMPort 85%, SLPA 15%) and has begun switching transshipment calls to Hambantota. The port's box capacity is set to double to 2 million TEUs by year-end after recent investment.

Asian stocks rose sharply, led by chip and AI firms, as investors brushed off Middle East attacks; SK Hynix priced its ADR at $149, raising about $26.5bn. Brent crude was set for a 5% weekly rise to $76.03/bbl and Japan's yen firmed after finance minister comments.

Sampath Bank's proposed LKR10 billion Basel III-compliant subordinated green bonds were assigned a final National Long-Term Rating of 'A(lka)' by Fitch. The five- and seven-year bonds, to be listed on the CSE, will bolster Tier-2 capital and finance/refinance green projects and include a non-viability conversion clause.

Mediterranean Shipping Co. (MSC) is in talks to acquire a significant stake in Hambantota International Port, currently 85% owned by China Merchants Port and 15% by the Sri Lanka Ports Authority; no financial terms, stake size or timeline were disclosed.

Colombo Port City Economic Commission will invite RFPs for an international university, hospital and school as it shifts from real estate to building institutional foundations; the Commission permits transactions in 14 foreign currencies under a dollarised regime and flags IT talent shortages constraining investment.

Sri Lanka plans a Rs.3.5 billion global destination branding campaign by year-end or early 2027, with interim targeted digital marketing and PR campaigns to begin in August in Germany, the UK, Australia and New Zealand. Procurement is underway with World Bank technical assistance and staggered market rollouts planned.

Asia-Pacific visitors—especially Indians—are outspending Europeans in Sri Lanka, with Indian tourists' average daily expenditure around $154 versus the national average of $148. Year-to-date 301,875 Indian tourists (26% of arrivals) have visited and SLTPB is expanding promotions to boost spending and length of stay.

Sri Lanka has cut its 2026 tourism targets to 2.5m arrivals (from 3.0m) and $3.5bn in earnings (from $4.0bn) after the Middle East conflict disrupted air connectivity. Officials say recovery is expected in 2H as new carriers begin services and existing airlines increase frequencies.

The Parliamentary Committee on Public Finance approved a Customs Ordinance resolution and two EDB orders to implement a National Tariff Policy that will reset import duty bands to 0%, 10%, 20% and 30% from 1 April 2026. The reforms include cutting effective ceramic-tile import taxes to 20% by 2029, phasing out para-tariffs by 2029, and updating trade data to support export growth.

Union Bank CEO Dilshan Rodrigo said SMEs are understating revenues and profits—banks often reconstruct financials and find turnover about 40% higher—hindering cash-flow lending. He urged stronger audit standards, independent SME credit ratings and deeper capital markets for long-term SME finance.

Nations Trust Bank (NTB.N0000) appointed Ananda Jayawardana as an Independent Non-Executive Director. He brings over 25 years' experience in leveraged and structured finance across Asia, with senior roles at Standard Chartered and the Royal Bank of Scotland.

The Employees' Trust Fund Board will require employers with 15 or more employees to submit ETF contributions and monthly returns electronically for contributions relating to July 2026, due on or before 31 August 2026. Payments must be made via designated banks' internet banking or by direct debit; cash, cheques and printed returns will no longer be accepted.

A seminar on Beneficial Ownership compliance will be held on 22 July 2026 at The Kingsbury, Colombo to provide guidance on BO filings under the Companies Act No. 12 of 2025 and CBSL Direction 2 of 2026, highlighting the statutory BO filing deadline of 30 September 2026 and non-compliance risks.

President Anura Kumara Dissanayake said the 2027 Budget will prioritise strengthening public healthcare and reducing private treatment costs. Measures include recommencing 26 suspended hospital projects (48 projects now under way), new primary-care 'Arogya Suwa Seva Centres', technology upgrades for state hospitals, ambulance improvements, digital health systems and pharma procurement reforms.

Minority shareholders of Associated Motor Finance (AMF.N0000) say the proposed amalgamation with L B Finance (LFIN.N0000) undervalues AMF and have asked the SEC and CSE to review the Rs.55 per-share cash consideration; CBSL said pricing is outside its remit.