Sri Lanka to launch bus sector clustering pilot to curb route competition

Tuesday July 7, 2026 4:10 pm ECONOMYNEXT — Sri Lanka’s cabinet has approved a pilot program to introduce bus sector clustering across three routes to curb operational inefficiencies and commuter inconvenience in the public transport sector, minister Nalinda Jayatissa said. The i…

Tuesday July 7, 2026 4:10 pm

ECONOMYNEXT — Sri Lanka’s cabinet has approved a pilot program to introduce bus sector clustering across three routes to curb operational inefficiencies and commuter inconvenience in the public transport sector, minister Nalinda Jayatissa said. The initiative will target bus routes 170, 177, and 190 and aims to move away from individual operational units by managing interconnected routes as a single cluster of integrated, coordinated services. Public passenger transport in the island is run by the state-owned Sri Lanka Transport Board (SLTB) and a number of independent private operators. The sector is rife with issues, including excessive competition, poor schedule adherence, an oversupply of buses, unsafe driving, traffic congestion, and inefficient resource use. Jayatissa said that while similar frameworks exist internationally, Sri Lanka’s initial approach will rely on voluntary cooperation rather than immediate corporate restructuring. “In some countries around the world, this is implemented as corporate companies. However, this program is not being done as companies, but rather on a voluntary basis,” Jayatissa said. According to the cabinet decision, the unified management strategy will seek to bring together all relevant stakeholders on the selected corridors to test the feasibility of a wider roll-out. Following the evaluation of the pilot program’s results, the government plans to expand the bus sector clustering framework to other regions across the country. (Colombo/Jul7/2026)

Tuesday July 7, 2026 3:43 pm

ECONOMYNEXT – Sampath Bank has introduced Google Pay for all mastercard and visa credit and debit cardholders, increasing Sri Lankan customers’ access to digital payments. Cardholders can now digitise their visa credit and debit cards, and mastercard credit and debit cards and perform transactions across in-store, in-app, and online platforms, bringing fast, secure, and globally accepted tap-to-pay functionality to Android devices, catering to the increasing demand for mobile-first solutions, the lender said. The solution removes the need to carry physical cards while ensuring acceptance at millions of merchants worldwide. “Card usage is evolving beyond physical formats into a more flexible digital payment environment. Google Pay enhances the everyday utility of SampathCards by enabling a consistent payment experience across multiple channels and geographies,” Chirath Samarasekara, Head of Card Centre at Sampath Bank said. “This integration strengthens customer engagement while aligning with the growing preference for contactless and mobile-first payments, reinforcing trust in digital channels.” Mobile wallets are reshaping how consumers interact with their finances, particularly among digitally savvy users and frequent travellers who prioritise convenience and security, the bank said. “Digital adoption today is driven by how intuitively financial services integrate into daily routines. Customers expect experiences that are secure, responsive, and globally relevant without added complexity,” Darshin Pathinayake, Chief Business Intelligence Officer at Sampath Bank. “Google Pay enables Sampath Cardholders to transact with confidence while staying seamlessly connected to their finances, where banking becomes a natural extension of everyday life rather than a separate interaction.” The initiative brings fast, secure, and globally accepted tap-to-pay functionality to Android devices, catering to the increasing demand for mobile-first solutions, the lender said. Transactions are backed by tokenization technology, which replaces sensitive card information with secure digital identifiers, ensuring that customer data remains protected. Sampath Bank’s digital infrastructure integrated with Google’s global payments ecosystem delivers scalability and reliability across both local and international payment environments, the bank said. (Colombo/Jul7/2026)

Tuesday July 7, 2026 3:22 pm

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange closed down on Tuesday trading, CSE data showed, with the benchmark All Share Price Index moving down 0.39 percent. The ASPI was down 85.61 points at 21,995.04, while the more liquid S&P SL20 was down 0.27 percent, or 16.72 points, at 6,150.33. Dialog Axiata (down 1.98 percent at 44.60 rupees), Melstacorp (down 1.18 percent at 189.00 rupees), John Keells Holdings (down 0.50 percent at 20.00 rupees), and Carson Cumberbatch (down 2.66 percent at 749.50 rupees) were top negative contributors. Positive contributors to the ASPI were Digital Mobility Solutions Lanka (up 0.88 percent at 171.25 rupees), Royal Ceramics Lanka (up 1.13 percent at 44.90 rupees), and Haycarb (up 1.56 percent at 163.00 rupees). Market turnover was 1.13 billion rupees. Capital goods led turnover with 483.4 million rupees. The Insurance Regulatory Commission of Sri Lanka (IRCSL) removed the suspension imposed on the registration of SANASA Life Insurance with effect from July 6, subject to the company fulfilling certain conditions. (Colombo/July07/2026)

Tuesday July 7, 2026 2:18 pm

ECONOMYNEXT – No policy or administrative decision has been taken to lease or hand over the Eastern Container Terminal (ECT) of the Colombo Port to the private sector, Ports, Civil Aviation and Energy Minister Anura Karunathilaka told parliament today. Addressing parliament on the port’s development, the minister dismissed speculation over a potential privatization of the state-owned facility. “No policy or administrative decision has been taken to lease the Eastern Terminal of the Sri Lanka Port or to hand it over to the private sector,” Karunathilaka said. While key container-handling equipment, including quay cranes and yard cranes, has already been received, the project faced previous setbacks due to the country’s financial situation, he said. “Due to delays in making advance payments as a result of the economic crisis that occurred in the year 2022, some cranes were not received—meaning not all of them have been received.” Procurement for the remaining equipment is currently moving forward. According to Karunathilaka, bidding groups have been called for the fifth time to acquire delayed straddle carriers, which are crucial for moving cargo between operational cranes and the yard. The technical and financial evaluations for these bids are now in their final stages, while a separate bidding process has commenced to purchase an additional 15 straddle carriers. (Colombo/July07/2026)

From Left to Right: Asanka Dilruksha, Senior Account Manager – Leisure & Multi-tenant Projects, Dialog Enterprise, Navin Pieris, Group Chief Officer – Dialog Enterprise, Premalal Brahmanage, Executive Director and Thushara U. De Zoysa Wickramaratne, Senior Sector Manager – Leisure & Multi-tenant Projects, Dialog Enterprise.

Tuesday July 7, 2026 1:12 pm

ECONOMYNEXT – Dialog Enterprise has partnered with Prime Lands Residencies to provide fibre connectivity to residents of Sri Lanka’s The Colombo Border apartment development. “As residential developments continue to evolve into digitally enabled living spaces, reliable connectivity becomes a fundamental requirement,” Navin Pieris, Group Chief Officer – Dialog Enterprise, said. The 27 floor apartment complex is located along the Colombo–Kandy Road in Peliyagoda, and offers access to the city’s key destinations. “Partnering with Dialog Enterprise allows us to equip The Colombo Border with world-class digital infrastructure, ensuring residents enjoy fast, reliable connectivity and an enhanced smart living experience within the development,” Shaminda Hewapathirana – Chief Operating Officer, Prime Lands Residencies said. Dialog Enterprise is the corporate solutions arm of Dialog Axiata. (Colombo/Jul7/2026)

Tuesday July 7, 2026 10:57 am

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange was trading down during Tuesday midday, CSE data showed, with the benchmark All Share Price Index moving down 0.17 percent. The ASPI was down 37.22 points at 22,043.43, while the more liquid S&P SL20 was down 0.15 percent, or 9.20 points, at 6,157.85. Positive contributors to the ASPI were Hatton National Bank (up 0.69 percent at 399.50 rupees), Royal Ceramics Lanka (up 1.35 percent at 45.00 rupees), Aitken Spence (up 0.83 percent at 151.00 rupees), Sanasa Development Bank (up 3.00 percent at 55.00 rupees), and Nawaloka Hospitals (up 2.78 percent at 14.80 rupees). Ambeon Holdings (down 10.71 percent at 35.00 rupees), Melstacorp (down 1.18 percent at 189.00 rupees), John Keells Holdings (down 0.50 percent at 20.00 rupees), Carson Cumberbatch (down 2.60 percent at 750.00 rupees), and LOLC Holdings (down 0.24 percent at 510.00 rupees) were top negative contributors. Market turnover was 216.8 million rupees. Capital goods led turnover with 46.2 million rupees. Analysts noted a minor share transmission at Seylan Developments following disclosures of dealings by directors. Eleven shares belonging to the estate of the late Mr. M.H.M. Nazeer were transmitted to Dr. Azmina Farouk, wife of director Mr. M.N.I. Farouk, on June 25, 2026. The company’s shares closed down 1.49 percent at 26.40 rupees. (Colombo/July07/2026)

Tuesday July 7, 2026 10:22 am

ECONOMYNEXT – Sri Lanka’s rupee was quoted at 334.65/75 to the US dollar in the spot market on Tuesday, from 334.90/335.00 the previous day, while bond yields edged up, dealers said. The telegraphic transfer rate for Sri Lanka’s rupee against the US dollar was 330.50 buying, 339.50 selling; the euro was 375.6944 selling, 389.6114 buying; and the pound was 441.8078 buying, 455.8534 selling. A bond maturing on 01.08.2030 was quoted at 11.26/33 percent, up from 11.23/30 percent. A bond maturing on 15.10.2030 was quoted at 11.30/35 percent, up from 11.26/30 percent. A bond maturing on 15.12.2032 was quoted at 11.55/65 percent, up from 11.55/60 percent. A bond maturing on 01.11.2033 was quoted flat at 11.60/70 percent. A bond maturing on 15.03.2035 was quoted at 11.70/80 percent. (Colombo/Jul7/2026)