Connect with us

Business

Bull run at CSE; most sectors perform well

Published

on

By Hiran H.Senewiratne

CSE trading resumed yesterday on a bullish note expecting Treasury Bill rates and Central Bank policy rates to decline sharply or to arrive at a stable level. Further, the banking sector was the top contributor to the turnover, while other sectors too began to perform well in the market, market analysts said.

The All- Share Price Index gained 99.49 points to close at 10,176.13 points, while the S and P SL20 index gained 35.97 points to close at 3009.09 points. It is the highest ASPI close since 2022 March, analysts said.

Turnover stood at Rs 4.95 billion with seven crossings. NDB 5.9 million shares crossed to the tune of Rs 355 million and its shares traded at Rs 60, JKH 2.2 million shares crossed for Rs 352 million, its shares traded at Rs 60, Expolanka Holdings two million shares crossed for Rs 282 million; its shares traded at Rs. 141, Commercial Bank 1.9 million shares crossed for Rs 154.4 million and its shares traded at Rs 81, Ceylon Cold Stores two million shares crossed for Rs 96 million; its shares traded at Rs 48, CIC 744,000 shares crossed to the tune of Rs 48.3 million; its shares fetched Rs 65 and Hayleys 400,000 shares crossed for Rs 34.8 million; its shares traded at Rs 87.

In the retail market top seven companies that mainly contributed to the turnover were; Commercial Bank Rs 387 million (4.7 million shares traded), Hayleys Rs 287 million (3.3 million shares traded), Browns Investments Rs 250 million (38.9 million shares traded), Capital Alliance Rs 221 million (5.3 million shares traded), Expolanka Holdings Rs 192 million (1.3 million shares traded), JKH Rs 149 million (934,000 shares traded), and Sampath Bank Rs 137 million (2.1 million shares traded). During the day 173 million share volumes changed hands in more than 30,000 transactions.

Sri Lanka has made the offer to restructure domestically as part of efforts to meet International Monetary Fund targets to make government debt sustainable after sovereign default.

Sri Lanka is offering to swap debt in provident funds for new instruments with a longer duration in line with an Extended Fund Facility (EFF) of the IMF. Dollar debt of domestic banks would also be restructured.

Yesterday the Central Bank’s US dollar buying rate was Rs 298.89 and selling rate Rs 313.66.



Business

Dr RAD Jeewantha named most innovative dentist of the year

Published

on

Dr Jeewantha receiving the award

Dr. R. A. D. Jeewantha was honoured as the Most Innovative Dentist of the Year at the Business World International Awards, 2025. Organised by the Business World International Organisation, the award ceremony was held recently at the Mount Lavinia Hotel. A graduate of the Faculty of Dental Sciences, University of Peradeniya, Dr. Jeewantha has built a reputation as one of Sri Lanka’s most respected and forward-thinking dental surgeons. After gaining vital experience in Government hospitals, including the Teaching Hospital in Karapitiya, he also served at a leading private hospital before launching his own practice—Doctor J Premium Dental Care in Delkanda, Nugegoda.

His dental clinic is known for offering advanced, patient-focused treatments in restorative dentistry, cosmetic procedures, and implantology, using state-of-the-art technology. Dr. Jeewantha is especially skilled in dental implants, having completed the American Residency Course in Dental Implantology at Roseman University, accredited by the American Academy of Implant Dentistry. Dr. Jeewantha holds fellowships from the International College of Continuing Dental Education (FICCDE) and the Pierre Fauchard Academy (USA). His advanced skills include modern root canal treatments using Mineral Trioxide Aggregate (MTA) for both surgical and non-surgical procedures.

He has completed international trainings in digital dentistry, full-arch implantology techniques like All-on-Four and Zygomatic Systems, and smile design using digital 3D scans. He has participated in global dental events such as the Asia-Pacific Dental Congress and completed training at institutions including the University of Manchester and North Western State Medical University in Russia. His courses have covered everything from intraoral scanning to managing tooth wear. He has previously received many local and international awards. Dr. Jeewantha also serves the community as a Justice of the Peace for All Island.

Continue Reading

Business

IIHS Foundation in Biological Studies offers fast-track route to global health careers

Published

on

The Foundation in Biological Studies at IIHS provides a unique alternative for students looking to fast-track their health careers after their Ordinary Level (O/L) exams. This programme offers a direct route to global health careers, bypassing traditional A/Ls. With over 1,000 students already advancing to universities in Australia, the UK, and Finland, IIHS has positioned the course as a reliable launchpad for careers in fields like medicine, nursing, biomedical sciences, and digital health. “This programme is a game-changer, offering a transformative journey into global healthcare education,” said IIHS CEO Dr. Kithsiri Edirisinghe.

Continue Reading

Business

Seylan Bank Reports Strong Growth in Q1 2025 Financials

Published

on

Seylan Bank has recorded a Profit before Tax (PBT) of LKR 4,199 million in Q1 2025, marking a 13.36% growth compared to LKR 3,704 million in Q1 2024. Profit after Tax (PAT) rose by 20.29%, reaching LKR 2,761 million, up from LKR 2,295 million in the corresponding period of 2024.

Despite a decrease in net interest income by 8.37% due to market interest rate reductions, the bank’s net fee-based income grew by 13.83%, driven by fees from loans, cards, remittances, and other services. Total operating income for the quarter was LKR 11,258 million, a 3.83% decrease from the previous year, while operating expenses rose by 4.62%, largely due to increased personnel and other operating costs.

Impairment charges were significantly reduced by 83.17%, totaling LKR 262 million, reflecting the bank’s solid credit quality and proactive provisions. The bank’s impaired loan ratio improved to 1.98% from 2.10% in Q1 2024, with a provision cover ratio of 80.74%.

Seylan Bank’s total assets grew to LKR 785 billion, with loans and advances reaching LKR 469 billion and deposits totaling LKR 647 billion. The bank’s capital adequacy ratios remained strong, with the Common Equity Tier 1 Capital Ratio at 13.67% and Total Capital Ratio at 17.64%.

In addition to its financial performance, Seylan Bank continued its commitment to education, opening 16 more “Seylan Pahasara Libraries,” bringing the total to 281 libraries across the island.Fitch Ratings upgraded Seylan Bank’s National Long-Term Rating to ‘A+(lka)’ with a Stable Outlook in January 2025, further underscoring the bank’s financial stability and growth trajectory.

Continue Reading

Trending