News & market updates

Colombo bourse opened the week down: ASPI fell 0.44% to 23,627.87 with foreign investors net sellers of ~Rs.697.9m and turnover ~Rs.4.7bn. Top negatives included DOCK, COMB, NTB, SAMP and SPEN, while ACL, Tokyo Cement, DIAL and REEF saw notable turnover/interest.

Browns Beach Hotels PLC's board proposed voluntary delisting from the CSE and offered minority shareholders an exit price of Rs. 30 per share, with majority shareholders Melstacorp (41.88%) and Aitken Spence Hotel Holdings (36.62%) arranging purchases of exiting shares. The company cited sustained losses, a going-concern emphasis, negative net asset position and non-compliance with minimum public holding.

John Keells Holdings met Madhya Pradesh government at the WEF and expressed interest in exploring investments in logistics, hospitality, food processing and tourism in the state; a John Keells team will engage further to assess potential collaborations.

SOLA Festival returns to Sri Lanka’s south coast on 30–31 January at The Doctor’s House, Madiha, aiming to nearly double attendance from 800 at its 2025 edition. The community-led event emphasizes circular-economy, waste-free operations, local collaborations and a creative market for Sri Lankan sustainable makers.

Galle ranked fifth in Tripadvisor’s Travelers’ Choice Awards Best of the Best 2026 for honeymoon destinations. The ranking, based on 12 months of traveller review volume and quality, highlights Galle’s blend of heritage (Galle Fort) and coastal attractions.

Melstacorp (MELS.N0000) and Aitken Spence Hotel Holdings (AHUN.N0000) have arranged to buy back minority shares as Browns Beach Hotels seeks delisting from the Colombo Stock Exchange with an exit offer of Rs.30 per share. The move follows sustained losses, non-compliance with minimum public holding and is subject to regulatory and shareholder approval.

CBSL PMI: Manufacturing PMI 60.9 and Services PMI 67.9 in December 2025, indicating sharp expansion despite Ditwah weather disruptions. Manufacturing was led by food & beverages and higher new orders, while services were driven by wholesale & retail and accommodation/F&B with rising employment and optimistic near‑term expectations.

A liquidator has invited offers to invest in or buy the Krrish Building mixed-use project in Colombo, valued at $712m with about $85m of work completed; proposals including finance credentials are due by 28 February.

Icon V Talpe, a 17-level twin-tower oceanfront development by Odiliya Group in Talpe near Galle, comprises 227 fully furnished sea-facing apartments and has attracted strong interest from overseas Sri Lankans and international investors, with many units already sold or reserved.

First Capital Holdings PLC will host its 12th Investor Symposium on 22 January 2026 at Cinnamon Life Colombo, focusing on Sri Lanka’s economic outlook and investment strategies. The event will feature a presentation by First Capital research heads and a panel including sector leaders discussing tourism, construction and FMCG trends.

First Capital Holdings (CFVF.N0000) will host its 12th Investor Symposium on 22 January 2026 at Cinnamon Life Colombo, presenting the Economic and Investment Outlook for 2026. The event, which will be live-streamed, features a panel of industry leaders including JAT.N0000.

Sri Lanka's services PMI rose to 67.9 in December 2025, signaling expansion driven mainly by wholesale and retail trade amid festive demand. The new-business index climbed to 64.6 and employment increased as firms expanded year-end workforces.

Sri Lanka welcomed 131,898 tourists in the first 15 days of January, a 9.43% year-on-year increase, according to provisional SLTDA figures. India was the top source market (23,786 arrivals, 18%), followed by Russia and the UK.

President Anura Kumara Dissanayake launched the 2026 National Housing Program in Jaffna, targeting 31,218 families nationwide and allocating Rs.2 million per house for 800 war-displaced families in Jaffna with Rs.300,000 cheques distributed at the launch. The program covers 2,500 war-displaced families in the North and East and pledges to resolve displaced housing during his term.

Cabinet approved calling for expressions of interest to find investors to develop selected areas of the Pelwatte Sugar Factory into tourist attractions under a PPP; the Pelwatte factory is owned by Lanka Sugar Company Ltd.

Brazil–Asia Chamber of Commerce has shown interest in participating in Sri Lanka Expo 2026 and began talks with Sri Lankan officials to boost trade and investment in tea, cinnamon and Port City projects; bilateral trade is about $150m. Follow-up meetings will involve the Tea Board, Spices and Allied Products Marketing Board, Colombo Port City Economic Commission and the EDB, which highlighted apparel, rubber, IT and machinery sectors.

World Bank projects Sri Lanka real GDP growth to slow to 3.5% in 2026 (3.1% in 2027), down from an estimated 4.6% in 2025, citing structural weaknesses and weaker external demand. It says the external position has improved due to strong remittances, a tourism recovery and lower global oil prices supporting a current account surplus.

An IMF staff team will visit Sri Lanka from January 22–28, 2026 to assess damage from Cyclone Ditwah and its economic impact; the mission's findings will inform discussions on resuming the IMF Extended Fund Facility and shaping recovery support.

Emirates has named world No.1 Aryna Sabalenka as its first tennis ambassador and unveiled an A380 with a tennis-inspired livery celebrating its sponsorship of all four Grand Slams. The partnership aims to deepen Emirates' engagement with tennis fans and enhance its travel offerings.

DFCC Bank served as title sponsor of the Faldo Junior Series Sri Lanka at Royal Colombo Golf Club, with Kaya Daluwatte named Overall Champion. The three-day event drew over 100 junior golfers and offers winners a pathway to the Faldo Junior Tour Asia Grand Final.

Agoda named Colombo its recommended destination for May 2026, highlighting Vesak festival lantern displays, temple observances and evening processions as reasons to visit; the monthly guide helps travelers time trips for cultural events and favorable weather.

SriLankan Airlines unveiled an international branding initiative by applying a Nawam Maha Perahera livery to an Airbus A320neo to promote the Colombo Nawam Maha Perahera 2026 and Sri Lanka as a cultural tourism destination.

The Finance Ministry will divest its entire 100% stake in Canwill Holdings, holding a virtual pre-EOI meeting on 21 Jan and setting an EOI deadline of 16 Feb for a two-stage competitive sale. Canwill is the parent of Sinolanka and Helanco, including the stalled Grand Hyatt Colombo project, and has prior forensic-audit findings and Rs.18.5bn of equity funding.

Ranyan Industries' Amami brand won the Silver Award and Top Achiever Award (Small Category) at the CNCI Achievers Awards 2025. The company supplies hotel amenity products to major Sri Lankan hotels and highlights locally sourced Ayurvedic/herbal FMCG items while expanding its global footprint.

Walkers Tours will be the Official Travel Partner for IRONMAN 70.3 Colombo on 22 February 2026, providing athlete airport transfers, accommodation and curated race travel services as the event returns to Sri Lanka for the first time since 2019.

Aitken Spence Hotel Holdings plans to issue up to 50 million debentures to raise Rs5 billion (Rs100 each), initially issuing 30 million with an option for a further 20 million; the listed, unsecured senior redeemable debentures are subject to regulatory approvals and will be listed on the Colombo Stock Exchange.

Amber Adventures warns it may pursue legal action to recover USD 3.5Mn after the Central Environmental Authority ordered suspension of development of the BOI-approved Ambuluwawa Cable Car project pending a site inspection. The company says it has invested about USD 3.5m of the approved USD 12.75m, denies landslide claims and urges BOI intervention.

FM Derana was announced as the Official Radio Broadcaster in Sri Lanka for the ICC Men’s T20 World Cup 2026, providing islandwide live coverage on 92.2 and 92.4 FM for 55 matches from 7 Feb–8 Mar 2026.

Karma Fight League (Pvt) Ltd secured strategic investment led by Raveen Wickramasinghe, who has been appointed Chairman. New investors including Sentered Media and Addiscombe Capital will help strengthen governance, raise strategic capital and scale the K-1 promotion in South Asia.

John Keells Hotels' Cinnamon Lakeside will host the HSBC Ceylon Literary & Arts Festival Edition 3 from 13–15 February 2026. The HSBC-sponsored event, supported by the John Keells Foundation, highlights cultural tourism and should benefit John Keells Hotels and parent John Keells Holdings.