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Wednesday October 14th, 2026

Sri Lanka Coronavirus controls aimed at new hotspots in Korea, Italy

ECONOMYNEXT – Sri Lanka is applying its anti-Coronavirus control procedures to new hotspots as Italy, Korea and Iran emerged to the fore an official said, even as China’s epidemic showed signs of waning.

Sri Lanka does not automatically quarantine all arrivals from countries where Coronavirus is found, but tracks visitors and returning citizens from an area assessed to be risky.

Early in the crisis Health Minister Pavithra Wanniarachchi said it was not practical to quarantine every visitor for 14 days, when questioned why returning SriLankan’s from Chinese cities outside they Hubei province were not quarantined.

Instead, those entering the country are asked to fill a health declaration form, detailing their health status, place of origin and where they have been in the past 14 days and their itinerary in Sri Lanka.

Sri Lanka on March 04 has said 14 day quarantine will start for arrivals from high risk areas from the first week of March Sri Lanka halts cruise tourism, to start 14-day quarantine of high risk visitors

At the main airport in Katunayake, visitors go through a heat scanner. At the Colombo Port and Jaffna Airport handheld scanners are used. At ports, the medical officer on board the vessel has to file a health status report.

Anyone with symptoms is isolated and examined by medical officers who are on 24 hours duty at the port of entry and the patient is sent to hospital by ambulances that are standing by.

Based on the health declaration form, visitors are assessed. Those who are deemed to be from a high risk area or those who had visited a high risk area are tracked and monitored country-wide.

Daily Health Checks

A regional medical officer of health will visit them every day, take their temperature and assess their health status officials told reporters. Tourists will also be visited at their hotels.

Anyone showing symptoms are taken to hospital. Contacts are traced officials said.

Sri Lankans coming from virus hotspots are also asked to self-quarantine for 14 days. Students who were flown in a rescue flight from Wuhan were kept at a military base for 14 days.

Foreigners or Sri Lankans showing symptoms are advised not to go to hospital on their own.

They are asked to call a medical officer of health or the Suwaseriya paramedic service who will transfer them to a one of 17 designated hospitals around the island.

“All possible precautions are being taken,” explains Hemantha Herath, the National Coordinator for Disaster Preparedness at Sri Lanka’s Ministry of Health.

“It may not be 100 percent foolproof as there may be people who do not show symptoms.

“However the system has worked well so far.

“People who have entered the country are also being detected as suspected cases. The single Coronavirus confirmed patient was also detected.”

As of March 01, 16 persons including one foreigner were under observation at 6 of the 17 designated hospitals around the country.

Since tracking started over 200 persons including 65 foreigners had been admitted for observation. Only one person, a Chinese woman has so far tested positive. She was released after making a full recovery.

New Hotspots

The same procedures are being applied to Korea, Italy and Iran.

Herath says based on data available so far most of the persons coming from Korea and Italy are those of Sri Lankan origin.

About 20,000 Sri Lankan expatriates are estimated to be in Korea. Over 100,000 are estimated to be in Italy.

Sri Lankans are free to return to the country anytime they wish.

If the country of residence has a good health system and they also have access to medical care and medical insurance, officials do not advise them to return immediately.

However if they are in a country where the healthcare system is weak, it may make sense to return.

Even if new countries or areas are declared as hotspots, Sri Lanka’s authorities have information to track them.

“Even if a new area is declared as a hotspot we have the information to contact and track people who have arrived in the country in recent days (from health declarations),” Herath said.

“Awareness has also improved.”

Sri Lanka’s epidemiology unit provides daily situation reports on the local and global situation.

The government’s Health Promotion Bureau provides updated information any runs a hotline at 0710 107 107 to answer questions.

Sri Lanka’s authorities do not ask everyone to wear a mask.

“In the current Sri Lankan context, there is no scientific justification to wear face mask routinely by the general public including children,” says the Health Promotion Bureau.

They advise to wash hands frequently, use sanitizer and stay away from crowded places, maintain distance and not to touch handrails unless necessary.

Only those with a cough or cold are encouraged to wear a mask.

Flu Season

Flu viruses spread strongly around the northern hemisphere winter. The so-called flu season picks up from autumn and peaks in February, and then wanes according to data from the US Centres for Disease Control.

The SARS epidemic also showed seasonality, though MERS, in the Middle East, did not. Scientists have say that ultraviolet in bright sunlight breaks up nucleic acids, which may generally slow the spread of micro-organisms.

There was also a concern that the use of chopsticks may have played a part in spreading SARS.

In South Asia, people eat with their hands and wash hands.

Many South Asians, except for Maldivians are also poor, due to bad central banks which depreciate currencies and do not have money to travel abroad frequently. South Asian citizens also face visa restrictions travelling to other countries and also within the region.

In East Asia, ASEAN has visa free travel.

In Sri Lanka, houses are built to reduce respiratory infections. Under rules originally set by British colonial rulers to contain the spread of tuberculosis, no room can be built without a large window.

All rooms should have a window at least 25 percent of the length of the outer wall for a house plan to be passed by the Public Health Inspector. Many houses are also built with gardens and side by side ‘townhouses’ are not common. Now however apartments are springing up.

It is also not clear whether countries with liberal governments and free press has an advantage in detecting outbreaks faster and awareness building quickly, so that citizens and others can protect themselves.

“The number of cases in South Korea seems high at least in part because the country has high diagnostic capability, a free press and a democratically accountable system,” Andray Abrahamian, a visiting scholar at George Mason University Korea.

“Very few countries in the region have all those.”

A large number of infections in South Korea has spread among a religious sect, which is relatively opaque.

In both China and Iran there have been concerns about the accuracy of data, though it may also be linked to weak diagnostic capacity. (Colombo/Mar01/2020)

Sri Lanka to consider cash/dollar incentives for tourism promotors: President

ECONOMYNEXT – Sri Lanka is considering a tourism industry request to provide incentives in dollars or cash to those who bring more tourists into the country from next year, President Anura Kumara Dissanayake told an investor forum this week.

Speaking at the Sri Lanka Economic and Investor Summit 2026 on Monday (12), the President said the tourism industry has submitted a proposal to raise incentives over the previous year for those who bring in tourists above the target set by the government.

“We are currently considering provisions in the upcoming budget to offer a cash or dollar incentive per tourist above that threshold through the Tourism Development Authority,” he told the gathering when speaking about the plans to boost tourism.

“This would incentivize companies and institutions to bring in higher numbers of tourists.”

The incentive will be paid on the volume exceeding that benchmark, he said.

“For example, if 100 tourists visited previously and 120 arrive the following year, an incentive wouldn’t apply to the base 20, but rather on the excess beyond a certain growth threshold.”

Sri Lanka has pinned hopes over strong tourism growth for more job creating and foreign currency inflows. (Colombo/October 14/2026)

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Sri Lanka Treasury bill yields rise on shorter term, less bills sold

ECONOMYNEXT – Sri Lanka’s Treasury bill yields rose on the shorter tenor at Wednesday’s auction, with 66.12 billion rupees of bills sold of an offered 90 billion, data from the Public Debt Management Office showed.

The 3-month bill was up 4 basis points at 9.30 percent, with 40 billion rupees offered and 40.19 billion rupees sold.

The 6-month bill was unchanged at 9.44 percent, with 30 billion rupees offered and 8.45 billion rupees sold.

The 12-month bill was unchanged at 9.95 percent, with 20 billion rupees offered and 17.48 billion rupees sold.

All 3 bills are available on tap. (Colombo/Oct14/2026)

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Sri Lanka stocks close down 1.4 pct on geopolitical concerns, profit-taking

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange closed down on Wednesday, CSE data showed, with the benchmark All Share Price Index moving down 1.40 percent.

The ASPI was down 281.42 points at 19,796.06, while the more liquid S&P SL20 was down 0.94 percent, or 53.67 points, at 5,676.43.

Market sentiment was largely weighed down by geopolitical tensions in the Middle East and fluctuating oil prices, alongside margin calls, profit-taking, and the day’s Treasury bill auction.

“Things are moving more on sentiment rather than fundamentals these days, mainly with oil price fluctuations and Middle East developments, along with some margin calls and profit-taking,” Shahana, Senior Assistant Manager – Research at First Capital, said.

Positive contributors to the ASPI were Haycarb (up 2.84 percent at 199.50 rupees), Teejay Lanka (up 1.41 percent at 28.70 rupees), Aitken Spence (up 0.57 percent at 133.25 rupees), and Vidullanka (up 0.47 percent at 21.30 rupees).

Carson Cumberbatch (down 4.86 percent at 655.50 rupees), Tokyo Cement Company (down 4.79 percent at 73.50 rupees), Dialog Axiata (down 2.98 percent at 42.30 rupees), Distilleries Company of Sri Lanka (down 2.16 percent at 49.90 rupees), and Commercial Bank of Ceylon (down 0.63 percent at 197.25 rupees) were top negative contributors.

Market turnover was 1.93 billion rupees, roughly 35 percent above the monthly average. Capital goods led turnover with 405.82 million rupees, followed by the banking sector. Crossings were recorded in Dialog Axiata, DIMO, and John Keells Holdings, while foreign investors recorded a net selling of close to 5 million rupees.

Galadari Hotels (Lanka) announced that, following the conclusion of its ongoing refurbishment and pursuant to approval from Radisson Hospitality Belgium BV under the Hotel Management Agreement, the reopening of the hotel as ‘Radisson Blu Hotel Galadari Colombo’ is scheduled during the fourth quarter of 2026. (Colombo/Oct14/2026)

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Sri Lanka Customs set to reach fresh record revenue this year: analysts

ECONOMYNEXT – Sri Lanka Customs is likely to achieve a fresh record high revenue this year after reaching this year’s target of Rs. 2,207 billion this week, with more than 11 weeks to the year-end, analysts say.

Customs Spokesman Chandana Punchihewa said the revenue-collecting body had already surpassed this year’s target on Tuesday (13), reaching Rs. 2,208 billion.

The Customs exceeded its target for the second straight year in 2026.

Last year, Customs collected a record 2,551 billion rupees in revenue, exceeding a revised target of 2,241 billion rupees for the year and achieving 64.2% higher revenue than the previous year’s revenue of 1,553 million rupees.

Analysts say Customs will surpass last year’s record revenue by the end of November if there are no major policy reversals or disruptions to the economy in the country during that time.

Customs’ 2026 target of 2,207 billion was 13.5% less than last year’s because they originally expected a significant decline in car imports early this year. (Colombo/October 14/2026)

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Sri Lanka President reveals timelinefor new laws related to SOE, investments

ECONOMYNEXT – Sri Lanka President Anura Kumara Dissanayake revealed the timeline for key laws related to State-Owned Enterprises (SOE) and Public-Private-Partnership (PPP) to boost investments in the island nation.

Delays in formulating and enacting key structural legislation, specifically governing SOE reforms, PPPs, labor market flexibility, and modernizing the century-old Customs Ordinance, have emerged as major bottlenecks to Sri Lanka’s long-term economic competitiveness and fiscal sustainability.

The absence of a modernized legal framework for SOEs perpetuates fiscal leakages, inefficient governance, and persistent public sector debt burdens, while vague or outdated rules on PPPs and labor deter both domestic and foreign direct investment by creating regulatory ambiguity and rigid operational constraints.

Furthermore, the archaic Customs Ordinance of 1869 hinders trade facilitation, fosters administrative opacity, and creates revenue leakage risks at a time when export-led growth is critical.

Under the International Monetary Fund’s (IMF) Extended Fund Facility (EFF) arrangement, Sri Lanka has committed to prioritizing these legislative enactments.

Commenting on these laws, President Dissanayake said the government has been working on them and expects them to be enacted soon.

“Regarding the SOE law, I expect it will be presented to the Cabinet in about two weeks,” Dissanayake told the gathering at the launch of the Sri Lanka Economic and Investment Summit 2026 on Monday (12).

“The PPP law has been drafted and submitted to the Legal Draftsman’s Department, and we have received their recommendations.”

“Regarding labour law, about twelve different labour statutes currently exist. We are consolidating these into unified legislation. A draft bill has already been formulated, though reviewing and finalizing it will take some time.”

He said an agreement has been reached on the Customs Ordinance following extensive discussions involving the Treasury and the Customs Department.

“The proposed amendments to the Customs Ordinance are the most appropriate way forward,” he said.

“Those proposals have now been submitted to the Legal Draftsman’s Department, and we expect the bill to be finalized promptly. Most likely, all of these bills will be presented to Parliament by February.”

The IMF contends that establishing transparent, enforceable, and modern legal frameworks is essential to eliminate governance vulnerabilities, enforce fiscal discipline, improve revenue collection, and signal regulatory stability to foreign investors, thereby ensuring Sri Lanka’s post-default recovery transitions into sustainable macroeconomic growth. (Colombo/October 14/2026)

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Sri Lanka’s Standard Capital exits loss-making paints subsidiary

ECONOMYNEXT — Sri Lanka listed investment company Standard Capital has disposed of its stake in subsidiary Standard Paints (Pvt) Ltd for a nominal consideration of 1650 rupees, saying the move would improve its financial position as the subsidiary carried a negative equity value.

In a disclosure to the Colombo Stock Exchange, Standard Capital said its board had previously decided on August 24, to either strike off the subsidiary or dispose of its equity stake for a nominal value.

The company subsequently sold its holdings in Standard Paints on September 28, comprising a 65 percent stake represented by 6.5 million ordinary voting shares and 100 percent of the subsidiary’s 10 million preferential shares.

The shares were disposed of for a total consideration of 1650 rupees. (Colombo/Oct14/2026)

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