Sri Lanka’s HIPG issues clarification on vehicle storage policy

Monday July 27, 2026 2:42 pm ECONOMYNEXT – Sri Lanka’s Hambantota International Port Group (HIPG), has issued a statement clarifying its vehicle storage policy, saying that the “Port’s business is built on the efficient movement of cargo, not on earning revenue from storage char…

Monday July 27, 2026 2:42 pm

ECONOMYNEXT – Sri Lanka’s Hambantota International Port Group (HIPG), has issued a statement clarifying its vehicle storage policy, saying that the “Port’s business is built on the efficient movement of cargo, not on earning revenue from storage charges.” “Ports are designed to facilitate cargo movement, not to serve as long-term vehicle storage yards. Every vehicle that remains in the Port for months or years occupies valuable operational space required to handle new cargo and support the continued growth of Sri Lanka’s automotive logistics sector,” the HIPG said in a media release. The statement was made following media reports that importers have not cleared over 1000 vehicles that were imported, and are subsequently stored at the Hambantota Port, with 625 vehicles being there for over 6 months since arriving in the country. HIPG said in a statement that the port currently houses “more than 50,000 vehicles (both transhipment and local imports), approximately 1278 are lying in the yard for over 03 months, and 581 vehicles have remained at the Port for more than one year.” The vehicles left for over a year are ones that are a result of the legacy market conditions created due to the country’s vehicle import restrictions. From the vehicles left in the port for over a year, 400 of them were brought down before vehicle imports resumed in 2025, while another 175 vehicles were from before the import restrictions took place in 2020. (Colombo/July27/2026)

Monday July 27, 2026 2:00 pm

ECONOMYNEXT – Sri Lanka emerged as one of the top global gainers in investor relations and debt transparency practices following the launch of its dedicated investor relations program, the Institute of International Finance (IIF) said in a new report. According to the IIF’s 2026 Investor Relations and Debt Transparency Assessment, Sri Lanka was highlighted alongside Vietnam, Belize, and Mozambique as recording the largest overall score gains compared to the previous year. Sri Lanka launched its formal Investor Relations Program (IRP) in December 2024 under the Ministry of Finance. In its annual assessment covering 57 emerging markets and developing economies, the IIF noted that Sri Lanka’s headline Investor Relations Country Score rose by 6.3 points, reaching an overall score of 43.67 out of a maximum of 50. “While debt sustainability ultimately rests on economic fundamentals, a sovereign’s ability to communicate with investors about these fundamentals clearly and consistently can materially influence market access, borrowing costs, and investor confidence by reducing the risk premium attached to uncertainty,” the report said. The Washington-based institute emphasized that active investor engagement and transparent disclosure yield a “transparency dividend” by shrinking borrowing costs over time and building market confidence. Sri Lanka also posted significant gains in its sub-scores. In the Debt Transparency index, the country scored 11.25 out of a maximum 13 points, making it one of the leading performers in improving data disclosure practices. Additionally, Sri Lanka scored 3.25 out of 4.0 in the ESG Data and Policy Dissemination category. The IIF noted that Sri Lanka was among the countries showing the most notable year-on-year increases in providing environmental, social, and governance-related policy information to international investors. “When fiscal, debt, and policy information is disclosed in a timely, credible, predictable, and investor-friendly manner, investors are better able to distinguish known risks from unknown ones, shrinking the uncertainty premium embedded in borrowing costs,” the report said. The IIF report stressed that while transparency alone cannot fix weak underlying fiscal fundamentals, clear and predictable communication allows sovereigns to better manage debt strains, deepen investor trust, and maintain access to international capital markets during periods of global financial uncertainty. (Colombo/Jul27/2026)

Monday July 27, 2026 1:08 pm

ECONOMYNEXT – A high-level business team from the National Association of Builders (NOSTROY) of the Russian Federation has visited Sri Lanka to explore opportunities for investment and collaboration in infrastructure and urban development projects. The team, led by Vice President Anton Moroz, comprised twenty-four senior representatives and technical experts from leading Russian construction companies, the Ministry of Foreign Affairs said. The team met with officials of several ministries, the Urban Development Authority, and the Board of Investment. “These discussions were aimed at exploring opportunities for investment and collaboration in infrastructure and urban development projects,” the foreign ministry said. “The delegation also met with the Sri Lanka Bureau of Foreign Employment (SLBFE) to explore avenues for expanding employment opportunities for qualified Sri Lankan construction professionals in the Russian Federation.” NOSTROY is the largest association in the construction sector in the Russian Federation, representing more than half of the construction companies operating in Russia and internationally. (Colombo/Jul27/2026)

Monday July 27, 2026 11:30 am

ECONOMYNEXT — Sri Lanka’s Ceylon Cold Stores PLC reported a profit of 1.06 billion rupees for the quarter ended 30 June 2026. This represents a 3 percent decrease compared to the 1.09 billion rupees recorded during the same period the previous year. The group reported earnings of 1.12 rupees per share for the final quarter. For the same period in 2025, the company had recorded earnings of 1.15 rupees per share. Group revenue for the quarter rose 18 percent to 50.78 billion rupees, up from 43.20 billion rupees in the corresponding quarter of 2025. Growth was supported by the Supermarket segment, which contributed 40.92 billion rupees in external revenue, and the Manufacturing segment, which added 9.86 billion rupees. While results from operating activities grew 18 percent to 2.75 billion rupees, there was a 26 percent increase in net finance costs. These costs reached 727.76 million rupees, primarily driven by higher interest expenses on both short-term and long-term borrowings. The board approved a first interim dividend of 1.08 rupees per share to be paid in August 2026, following a final dividend of 3.349 rupees per share paid for the previous financial year. The group’s total assets stood at 88.90 billion rupees as of 30 June 2026. Bank overdrafts increased to 11.81 billion rupees from 10.42 billion rupees at the beginning of the financial year, contributing to a net decrease in cash and cash equivalents of 722.07 million rupees for the period. (Colombo/July27/2026)

Monday July 27, 2026 11:17 am

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange indices were trading higher at midday on Monday, CSE data showed, with the benchmark All Share Price Index moving up 0.57 percent. The ASPI was up 120.83 points at 21,293.57, while the more liquid S&P SL20 was up 0.58 percent, or 34.57 points, at 5,977.13. Positive contributors to the ASPI were Hatton National Bank (up 0.91 percent at 388.50 rupees), John Keells Holdings (up 1.02 percent at 19.80 rupees), Dialog Axiata (up 1.37 percent at 44.40 rupees), and Central Industries (up 0.94 percent at 214.00 rupees). PGP Glass Ceylon (down 3.29 percent at 55.90 rupees), Hemas Holdings (down 0.32 percent at 31.50 rupees), and Seylan Bank (down 0.91 percent at 98.10 rupees) were top negative contributors. Market turnover stood at 264 million rupees. Capital goods led turnover with 80.9 million rupees. Ceylon Cold Stores reported a profit of 1.063 billion rupees for the June quarter, down 3 percent compared to the corresponding period last year. (Colombo/July27/2026)

Monday July 27, 2026 9:58 am

ECONOMYNEXT – Sri Lanka’s rupee was quoted at 336.25/45 to the US dollar in the spot market on Monday, from 336.20/35 on Friday, while bond yields were broadly steady, dealers said. The telegraphic transfer rate for the US dollar was 331.7500 buying 340.7500 selling; the euro was 376.0489 buying 389.9659 selling; and the pound was 442.2048 buying 456.2504 selling. A bond maturing on 15.10.2028 was quoted at 10.75/85 percent. A bond maturing on 15.12.2029 was quoted at 11.20/30 percent, down from 11.25/30 percent. A bond maturing on 01.03.2030 was quoted at 11.30/45 percent. A bond maturing on 01.07.2030 was quoted at 11.55/65 percent. A bond maturing on 01.08.2030 was quoted at 11.55/65 percent, down from 11.58/65 percent. A bond maturing on 15.10.2030 closed at 11.60/70 percent, up from 11.60/68 percent. (Colombo/Jul27/2026)

Monday July 27, 2026 12:11 am

ECONOMYNEXT – The US Embassy in Sri Lanka has launched a Public Health Pest Control and Vector-Borne Disease Response program in partnership with the Sri Lanka Ministry of Health and National Dengue Control Unit to strengthen the country’s ability to prevent, detect, and respond to dengue. The initiative brings together experts from US Army Pacific (USARPAC) and the US Army’s 18th Theater Medical Command with counterparts from the Sri Lanka Ministry of Health to share American expertise in preventive medicine, disease surveillance, entomology, and integrated vector management. “Dengue continues to pose a serious challenge for families and communities across Sri Lanka,” said Chargé d’Affaires a.i. Jayne Howell. “Through this partnership, the United States is sharing American expertise in preventive medicine, entomology, disease surveillance, and vector control. This will strengthen Sri Lanka’s response to today’s outbreak while building sustainable capabilities that will protect Sri Lankan communities for years to come.” Conducted in Colombo, the initiative supports Sri Lanka’s nationwide dengue response, complementing mosquito breeding site eradication efforts, public awareness campaigns, and predictive prevention methodology. The initiative is funded through the US Department of War’s Overseas Humanitarian, Disaster, and Civic Aid (OHDACA) program. (Colombo/Jul27/2026)