Category: Industry
United States Announces $17 Million Investment to Modernize Port of Colombo to Reduce Shipping Costs
The United States today announced a $17 million investment to digitize operations at the Port of Colombo, strengthening one of South Asia’s busiest and most strategic maritime trade hubs. In partnership with the Sri Lanka Ports Authority (SLPA), the United States will introduce new digital systems to streamline port operations, using American technology to help […]
ComBank partners Payable to introduce ‘Soundbox’ for small business digital payments
Driven by its commitment to introduce the latest global technologies and continuously elevate the customer experience, Commercial Bank of Ceylon has announced the introduction of ‘Soundbox,’ an innovative audio-enabled digital payment acceptance device tailored for micro, small and medium enterprises. Powered by Mastercard and implemented in partnership with Payable (Pvt) Ltd, the Soundbox solution is […]
Hambantota International Port delivers 167,569 vehicles across 2025 and 2026 reporting periods
Hambantota International Port (HIP) delivered 167,569 vehicles across the March–December 2025 period and up to September 2026, with Hambantota International Port Group (HIPG) supporting vehicle importers through increased demand and disruptions affecting vehicle movements. Of this total, 86,389 vehicles were delivered between March and December 2025, comprising 30,809 brand new vehicles and 55,580 used vehicles. […]
Fitch Rates Sampath Bank’s Proposed Basel III Subordinated Debentures Final ‘A(lka)’
Fitch Ratings has assigned Sampath Bank PLC’s (AA-(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures of up to LKR10 billion a final National Long-Term Rating of ‘A(lka)’. The proposed debentures, which will mature in five and seven years, will be listed on the Colombo Stock Exchange. The bank plans to use the proceeds to […]
Government Awards Rs. 1.07 Billion Contract to Upgrade Kandy-Jaffna Road Section
Sri Lanka’s Cabinet of Ministers has approved the awarding of a Rs. 1.07 billion contract to M/s Tudawe Brothers (Pvt) Ltd. for the widening and improvement of a critical stretch along the Kandy-Jaffna (A009) road. The infrastructure project forms part of the national highway expansion and improvement program, targeting the road section from kilometer 58+240 […]
Sri Lanka Accelerates Renewable Energy Transition, Grid Upgrades, and Competitive Tariff Reforms
Sri Lanka is aggressively scaling up its renewable energy capacity while overhauling power procurement and transmission infrastructure to ensure stable, cost-effective electricity for industrial and domestic consumers, President Anura Kumara Dissanayake announced during the Sri Lanka Economic and Investment Summit 2026. Addressing business leaders, President Dissanayake highlighted that renewable sources now account for 69 percent […]
Government Re-evaluates Private Fuel Distribution Contracts Amid Subsidy Extensions and Market Disruption
Sri Lankan President Anura Kumara Dissanayake announced that the government is reviewing initial contractual agreements signed with private fuel distributors to address supply bottlenecks and pricing disparities between private retail outlets and the state-owned Ceylon Petroleum Corporation (CPC). Addressing business leaders at the Sri Lanka Economic and Investment Summit 2026, President Dissanayake outlined the fiscal […]
Sri Lanka Outlines Strategic Development Plans for Colombo Port East and West Terminals
Sri Lanka is preparing to revamp its maritime infrastructure by bringing in international shipping lines for terminal operations and advancing major expansion projects at the Port of Colombo, President Anura Kumara Dissanayake announced during the Sri Lanka Economic and Investment Summit 2026. Addressing the forum, President Dissanayake highlighted that while the state will retain ownership […]
MTI & Skift to strategize for Sri Lanka’s Global Tourism Campaign
Ms. Christine Fernando, Executive Director of MTI Consulting (3rd from left), and Mr. Oliver Martin, Senior Director of Skift Advisory (2nd from left), during a meeting in Sri Lanka Enabled by the World Bank’s GFPP Skift, the world’s largest tourism industry Intelligence consultancy, in joint venture with MTI Consulting, the international strategy consultancy, has been […]
Seven in ten Sri Lankan exporters already sell online, but paperwork and slow delivery hold them back: Survey
Sri Lankan exporters are taking to online selling faster than the country’s trade systems are keeping up. A new survey shows seven in ten already use e-commerce, but many are still tangled in paperwork, slow deliveries and high costs. The findings are in “E-commerce and international trade in Sri Lanka: Findings from a survey of […]
Tax exemptions for residential real estate at Port City distort tax regime: Advocata Institute
Residential real estate developments in Colombo Port City currently benefit from a range of tax exemptions and incentives, which create a highly distortionary and unequal tax regime for real estate businesses operating elsewhere in Sri Lanka, the Advocata Institute warned. Both previous regulations (Gazette No. 2343/60 of 4 August 2023) and recent regulations (Gazette No. […]