Connect with us

Business

Invigorated share trading following President’s updates to parliament on IMF bailout

Published

on

By Hiran H. Senewiratne

The CSE was extremely bullish throughout yesterday and shares jumped in mid-day trade following President Ranil Wickremesinghe’s address to Parliament, wherein he mentioned that a Letter of Intent has been signed covering the deal with the IMF. The latter is to be submitted to the IMF Executive Board for approval, a market analyst said.

We expect Board approval in the third or fourth week of March, President Wickremesinghe said. “News of the IMF process coming to its conclusion has pushed up banking counters massively, which in turn is pulling the market up, because that is the biggest share counter in the stock market. Investors expect a fall in market rates once the IMF has agreed to provide its loan to Sri Lanka, the analyst added.

Amid those developments both indices moved upwards. The All- Share Price Index went up by 198 points and S and P SL20 rose by 35.5 points. Turnover stood at Rs 3.24 billion with five crossings. Those crossings were reported in Hemas Holdings, where 2.7 million share volumes crossed to the tune of Rs 180.9 million, its shares traded at Rs 67, NTB 1.2 million shares crossed for Rs 83.5 million, its shares traded at Rs 70.50, JKH 485,000 shares crossed for Rs 67.5 million and its share fetched Rs 139 million , Richard Pieris two million shares crossed to the tune of Rs 46 million, its shares traded at Rs 23 and CIC (Non- Voting) 450,000 shares crossed for Rs 26.1 million, its shares traded at Rs 58.

In the retail market top seven companies that mainly contributed to the turnover were; Expolanka Holdings Rs 369 million (2.4 million shares trade), Sampath Bank Rs 291 million (4.9 million shares traded), Lanka IOC Rs 197 million (907,000 shares traded), JKH Rs 125 million (896,000 shares traded), Sunshine Holdings Rs 95 million (2.1 million shares traded), ACL Cables Rs 91.9 million (1.1 million shares traded) and LOLC Holdings Rs 90.2 million (225,000 shares traded). During the day 114 million share volumes changed hands in 34000 transactions.

The Central Bank’s US dollar buying rate was Rs 318.30 and selling rate Rs 335.75. It is said that the rupee appreciated against the dollar by 3 per cent during the last three days.



Business

SLT-MOBITEL driving Sri Lanka’s economic resilience through digital infrastructure

Published

on

SLT-MOBITEL marks its triple triumph at the National Business Excellence Awards 2026

Corporate accolades underscore the alignment between its operational excellence and national development

In an era where national competitiveness is intrinsically tied to digital connectivity, strengthening the country’s digital backbone has become an urgent priority. Within this context, the evolving role of Sri Lanka’s leading telecommunications provider, SLT-MOBITEL, offers valuable insight into how technological infrastructure can underpin broader economic resilience.

Telecommunications and digital networks are foundational to economic transformation. By expanding high-speed broadband access, upgrading enterprise cloud capabilities, and bridging the urban-rural connectivity divide, SLT-MOBITEL helps reduce business transaction costs, streamline supply chains, and enable micro, small, and medium enterprises to reach global markets.

Recent corporate accolades further underscore this alignment between operational excellence and national development. SLT-MOBITEL’s triple triumph at the National Business Excellence Awards 2026 – winning in the Infrastructure and Utilities sector, Performance Management, and ICT Services categories – highlights its growing impact. Notably, the recognition of eChannelling’s contributions to digital healthcare reflects a broader strategic pivot toward integrated technology solutions.

“Institutional efficiency of this nature is critical for attracting foreign direct investment, as global partners increasingly assess a country’s digital maturity and systemic stability before committing capital,” noted industry observers.

Moreover, the company’s transition from a conventional telecom utility to a comprehensive digital solutions provider aligns seamlessly with Sri Lanka’s national digitalisation agenda. As the country pursues public sector modernisation, enhanced e-governance, and a competitive knowledge economy, the private sector must step up to deliver secure, scalable, and future-ready networks. Investments in data centres, cybersecurity frameworks, and advanced ICT infrastructure act as strategic buffers, ensuring that Sri Lanka’s economic apparatus remains agile and resilient amid future global uncertainties.

However, industry experts caution that while these achievements are commendable, SLT-MOBITEL still has a considerable distance to cover in fully enabling a truly digital economy.

Continue Reading

Business

Port City Colombo strengthens Gulf investment ties at Dubai diplomatic engagement

Published

on

The panel discussion at the engagement

Port City Colombo (PCC) took a prominent role as Platinum Sponsor at the second edition of Sri Lanka Beyond Your Dreams, a high-level diplomatic and investment engagement hosted by the Consulate General of Sri Lanka in Dubai and the Northern Emirates. The event, held on 2nd September 2026 at the Hilton Dubai Al Habtoor City, brought together over 400 senior UAE-based business leaders, investors, diplomats, and institutional stakeholders, alongside Sri Lanka’s most senior government representatives.

The gathering was graced by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, as Guest of Honour, and Vijitha Herath, Sri Lanka’s Minister of Foreign Affairs, Foreign Employment and Tourism. A high-level Sri Lankan delegation – including the Secretary to the Prime Minister, the Chairman of the Board of Investment, the Chairman of the Export Development Board, and the Director General of Commerce – underscored the government’s strong commitment to deepening economic diplomacy with the UAE.

In his keynote address, Minister Herath reaffirmed the centuries-old ties between Sri Lanka and the Arab region, emphasising the UAE’s vital role as a key economic partner. He stressed the urgency of finalising a Comprehensive Economic Partnership Agreement (CEPA) with the UAE, which would establish a robust framework to elevate trade, investment, and bilateral cooperation. Declaring Sri Lanka “open and ready for business,” he positioned Port City Colombo as the physical embodiment of this economic mission – a modern Special Economic Zone (SEZ) with a dedicated legal framework and competitive incentives, offering UAE investors a natural gateway to South Asia while maintaining strong Gulf connectivity.

Continue Reading

Business

American Premium Water strikes Gold at Dragons of Sri Lanka 2026

Published

on

The achievements are particularly significant given that the company’s debut at the Dragons awards has resulted in four Dragons across four categories.

American Premium Water has secured four wins at Dragons of Sri Lanka Awards 2026, including three Gold Dragons and one Black Dragon, marking a significant milestone for the brand following its relaunch last year.

Part of the prestigious Dragons of Asia awards, Dragons of Sri Lanka brings the program’s regional platform to the local market, celebrating creative and effective marketing communications, with entries evaluated on strategic thinking, creativity, execution and impact. Established in 2000, Dragons of Asia is one of Asia’s premier results-driven marketing awards programs.

For American Premium Water, the achievements are particularly significant given that the company’s debut at the Dragons awards has resulted in four Dragons across four categories. In the distinction of Gold Dragons, American Premium Water was recognized across three categories including Product Launch or Re Launch, Cause, Environment or Sustainability and Creative Excellence while the Black Dragon was awarded in recognition of Small Budget.

Competing alongside leading brands and agencies in Sri Lanka, American Premium Water’s four wins demonstrate the strength and effectiveness of its recent work. Winning three Gold Dragons across three distinct categories highlights the breadth of the brand’s achievements, while the Black Dragon for Small Budget further emphasizes its ability to create meaningful impact through focused and efficient investment.

Continue Reading

Trending