Business
Lanka-India oil distribution pipeline proposal stimulates share market
By Hiran H.Senewiratne
The CSE edged-up in mid-day trade yesterday due to positive market conditions brought about by investors moving to the stock market. The latter trend is traceable to a considerable price decline at the Treasury bill auction, coupled with an improvement in business prospects resulting from Lanka IOC’s proposal for an oil distribution pipeline connecting Nagapattinam in India to Sri Lanka, a market analyst said.
“A proposal by the IOC for an oil distribution pipeline connecting Nagapattinam, Trincomalee & Colombo was discussed, Minister of Power and Energy Kanchana Wijesekera tweeted yesterday.
“I requested them to look at a two- way oil & gas pipeline, taking into consideration the government’s development plan for the Trinco tank farm & energy hub, future development of refineries, oil & gas exploration, pipeline connections to domestic LPG terminals that will target regional oil and gas export markets, while enabling the meeting of energy requirements of both countries, Wijesekera tweeted.
Amid those developments both indices moved upwards. The All- Share Price Index moved up by 132.96 points and the most liquid index S&P SL20 was up by 60.8 points. Turnover stood at Rs 2.7 billion with six crossings. Those crossings were reported in Royal Ceramic, where 2.2 million shares crossed to the tune of Rs 76.7 million and its shares traded at Rs 34, Aitken Spence Hotel’s 900 million shares crossed for Rs 59.4 million, its shares traded at Rs 66, HNB 283,000 shares crossed for Rs 47.1 million and its shares traded at Rs 166.50, DFCC 600,000 shares crossed to the tune of Rs 33.3 million and its shares fetched Rs 55.50, Distilleries 1.4 million shares crossed for Rs 35.1 million, its shares traded at Rs 22.50 and Hayleys 250,000 shares crossed for Rs 23 million, its shares fetched Rs 92.
In the retail market top seven companies that mainly contributed to the turnover were, Lanka IOC Rs 303.3 million (2.1 million shares traded), Hayleys Rs 163 million (1.7 million shares traded), Capital Alliance Rs 153 million (3.2 million shares traded), Haycarb Rs 125 million (1.7 million shares traded), Sampath Bank Rs 124 million (1.8 million shares traded) and HNB Rs 120 million (710,000 shares traded).
During the day 144.9 million share volumes changed hands in 24000 transactions. The Energy Industry Group brought in a revenue of Rs 216 million during mid- day trade, while the market generated a turnover of Rs 1.2 billion.Yesterday, the Central Bank’s US dollar buying rate was Rs 310.49 and the selling rate Rs 324.67.
Business
AIA delivers strong first half results in 2026; double-digit growth across key financial metrics
The Board of AIA Group Limited (the “Company”) is pleased to announce the Group’s financial results for the six months ended 30 June 2026. Growth rates are shown on a constant exchange rate basis unless otherwise stated:
New business performance and embedded value
Value of new business (VONB) of US$3,212 million, up 10 per cent overall and 14 per cent excluding Thailand(1)
Record high annualised operating ROEV of 18.0 per cent, up from 15.8 per cent in full year 2025
EV Equity of US$83.4 billion, up 6 per cent per share over the first half on an actual exchange rate basis
IFRS earnings
Operating profit after tax (OPAT) of US$4,163 million, up 13 per cent per share
AIA now expects to exceed OPAT per share CAGR target of 9 to 11 per cent from 2023 to 2026(2)
Record high annualised operating ROE of 17.5 per cent, up from 15.5 per cent in full year 2025
Cash generation and capital returns
Underlying free surplus generation (UFSG) of US$3,935 million, increased by 10 per cent per share
Net free surplus generation (net FSG) of US$2,758 million, up 12 per cent per share
US$3.6 billion returned to shareholders in the first half through dividend and share buy-back
Interim dividend increased by 10 per cent to 53.90 Hong Kong cents per share
Lee Yuan Siong, AIA’s Group Chief Executive and President, said:
“AIA has delivered another strong performance in the first half of 2026, with double-digit growth across our key financial metrics, while continuing to return substantial capital to shareholders. VONB reached a record high of US$3.2 billion with growth across all distribution channels, and all reportable segments excluding Thailand. The Group has achieved 17 per cent CAGR since the first half of 2023(3), demonstrating consistently strong demand for AIA’s professional advice and differentiated products.
“At the core of our unrivalled distribution platform is our market-leading Premier Agency. I am delighted that AIA has once again been ranked the number one Million Dollar Round Table (MDRT) multinational company globally. We have held this position for a record 12 consecutive years and we have more than double the number of MDRT members of our nearest competitor. In the first half of 2026, our Premier Agency achieved strong VONB growth of 11 per cent excluding Thailand(1). Our extensive network of strategic distribution partners further expands our market reach and generated an 18 per cent increase in VONB, supported by very strong performance in both the bancassurance and independent financial adviser (IFA) and broker channels.
“Strong new business, together with disciplined management of our in-force portfolio, has supported sustained growth in recurring earnings with OPAT per share up by 13 per cent in the first half. As a result, we expect to exceed our 9 to 11 per cent OPAT per share CAGR target for 2023 to 2026(2). UFSG, the Group’s core measure of operating cash generation, increased by 10 per cent per share. After allowing for new business investment, net FSG increased by 12 per cent per share. In accordance with our prudent, sustainable and progressive dividend policy, the Board has declared a 10 per cent increase in the interim dividend to 53.90 Hong Kong cents per share. These achievements demonstrate that our financial strategy is working as intended.
“Asia remains the most compelling growth opportunity for life and health insurance. Powerful structural tailwinds across the region continue to create substantial demand for our professional advice and differentiated products and underpin the exceptional long-term prospects for AIA’s business. I am confident that AIA’s disciplined execution of our strategic priorities will continue to deliver long-term sustainable value for all our stakeholders.”
Business
British Council Sri Lanka launches soft skills workshops to elevate learning and empower communication
The British Council Sri Lanka has launched Corporate English Solutions (CES), tailored to the Sri Lankan corporate and education ecosystem, aimed at helping organisations strengthen workplace communication and professional development.
The launch event took place recently at the NH Collection, Colombo 3, gathering corporate partners, clients and education stakeholders throughout the country.
CES extends the British Council’s long-standing work in English language education and teacher training into a dedicated offering for the corporate sector. The launch introduced two new components to the British Council’s presence in Sri Lanka such as public workshops and teacher training programmes, open to learners and educators beyond the organisation’s existing corporate and academic partners. Guests at the event were shown a short video introducing Corporate English Solutions before the formal proceedings began.
Talal Meer, British Council Regional Business Development Director, South Asia, welcomed guests and introduced the British Council’s team in Sri Lanka. In his remarks, Meer set out the scope of the CES launch, covering the introduction of public workshops in Sri Lanka, the rollout of teacher training programmes, and an overview of the CES product portfolio. Meer’s role covers educational partnerships in the South Asia region, and his address framed the Sri Lanka launch within the British Council’s broader regional strategy.
Business
Ogilvy Group tops award tally at ‘Dragons of Sri Lanka’ 2026
Ogilvy Group Sri Lanka delivered a standout performance at the recently concluded Dragons of Sri Lanka 2026 Awards, securing a total of nine awards comprising two Gold Dragons, one Silver Dragon and six Black Dragons, among the festival’s highest overall award tallies. Gold Dragon wins for Phoenix Ogilvy and Ogilvy Digital, together with the seven additional recognitions across multiple categories, highlighted Ogilvy’s ability to combine creativity, strategic thinking and commercial effectiveness to deliver business results.
Organised by the 4As Sri Lanka, the third edition of Dragons of Sri Lanka shortlisted more than 50 agencies and corporates, making it one of the country’s most competitive marketing communications awards. These local awards, along with the chapters in Malaysia and Pakistan are part of the Dragons of Asia platform, one of the region’s leading programmes for marketing communications effectiveness, with entries being judged on strategy, originality, execution and measurable results.
Ogilvy Digital accounted for eight awards in total, including a Gold Dragon in the Business & Trade Marketing category, and a Silver Dragon in the Innovative Idea or Concept category. The Agency additionally received six Black Dragons across the categories of Innovative Idea or Concept, Business & Trade Marketing, Content Creation, Small Budget, Event or Experiential, and Brand Trial or Sales Generation.
Commenting on the achievement, Sajith Weerasinghe, Chief Operating Officer of Ogilvy Digital, said, “These recognitions reflect the breadth of capabilities we’ve built across strategy, creative, content, experience design, technology and performance marketing. The fact that the work was recognised across so many different disciplines demonstrates our ability to apply creativity to a wide range of business challenges and objectives. We’re proud that this achievement spans multiple clients, categories and types of work, reflecting both the versatility of our people and our commitment to delivering results.”
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