Business
Decline in world maize prices has energizing impact on bourse
By Hiran H. Senewiratne
The CSE evinced mixed reactions yesterday due to selling pressure noted in banking sector counters. But on top of that, poultry sector counters were buoyant due to a price decline in world maize prices, market analysts observed.
Global maize (corn) prices ended the second quarter of 2023 in a downward trend, which was accompanied by a significant decline in global demand and retarded production momentum. This has positively impacted the poultry industry not only globally but in Sri Lanka as well. Due to the price decline in maize prices, most listed poultry sector counters too performed well in the stock market, market analysts said.
The All- Share Price Index went down by 4.14 points and S and P SL20 declined by 3.12 points. Turnover stood at 1.65 billion with three crossings. Those crossings were reported in Sampath Bank, which crossed 700,000 shares to the tune of Rs 50 million; its shares traded at Rs 71.70, JKH 250,000 shares crossed for Rs 45 million and its shares sold at Rs 180 and Grain Elevators 120,000 shares crossed to the tune of Rs 20.4 million; its share fetched Rs 170.
In the retail market top seven companies that mainly contributed to the turnover were; Asian Hotel Properties Rs 173 million, 93.2 million shares traded, Grain Elevators Rs 169 million (990,000 shares traded), Capital Alliance Rs 95.3 million (1.2 million shares traded), JKH Rs 93.4 million (519,000 shares traded), Lanka IOC Rs 86 million (756,000 shares traded), Chevron Lubricants Rs 59.3 million (631,000 shares traded) and NTB Rs 52.2 million (470,000 shares traded). During the day 47 million share volumes changed hands in 15893 transactions.
Yesterday the rupee opened at Rs 323.85/324.25 to the US dollar after closing at Rs 324.00/25 to the US dollar the previous day, dealers said.
A bond maturing on 01.05.2028 was quoted up at 14.75/95 percent on Tuesday after closing at 13.90/14.10 percent on Monday. A bond maturing on 15.09.2027 was quoted stable at 14.50/15.30 percent after closing at 14.50/15.00 percent. A bond maturing on 15.05.2026 was quoted at up at 15.60/16.00 percent after closing at 15.55/16.00 percent on Friday.
Business
Indian business leader urges SL entrepreneurs to tap into India’s rapidly expanding consumer market
By Sanath Nanayakkare
Speaking at the Sri Lanka Economic and Investment Summit 2026, T. Krishnakumar, Chief Executive Officer of Reliance Consumer Products Ltd (RCPL), emphasised that local enterprises can unlock substantial economic benefits by strategically aligning with India’s booming consumer base.
Addressing business leaders and policymakers at the Shangri-La Hotel in Colombo, Krishnakumar highlighted that geographical proximity and rich cultural ties provide a natural foundation for deeper commercial collaboration.
He noted that instead of viewing bilateral trade narrowly, regional partnerships should act as conduits to build robust, scalable enterprises capable of plugging into wide-reaching regional value chains.
“For Sri Lankan exporters dealing in traditional staples as well as value-added goods, accessing India’s rising middle class presents a phenomenal growth window,” he said.
Drawing insights from Reliance Consumer Products’ rapid expansion – which scaled efficiently to thousands of employees and multi-billion-dollar metrics – Krishnakumar stressed that modern corporate success relies on disciplined execution, localised consumer understanding, and smart technology integration.
Furthermore, he underscored that while rapid growth is critical, businesses must consistently anchor their models in affordability and consumer trust.
Concluding his address at the summit, the RCPL chief noted that pairing regional trade integration with resilient business practices and predictable regulatory frameworks will be vital as Sri Lanka transitions firmly toward accelerated economic development.
Addressing the Summit during a subsequent fireside chat, President Anura Kumara Dissanayake underscored that a core concern currently being targeted by the government is developing a critical mass of local entrepreneurs equipped to engage with international enterprise counterparts.
Business
SriLankan Airlines wins prestigious SATA 2026 Visitors’ Choice Award for Leading International Airline
SriLankan Airlines has once again been honoured with the prestigious Visitors’ Choice Award for Leading International Airline at the South Asian Travel Awards (SATA) 2026, reaffirming its continued recognition in the regional travel and tourism industry. The airline, which has received this award in previous years, was the only international airline to be recognised in this category at this year’s event. The 10th anniversary edition of the awards ceremony was held earlier this month at Hotel Barcelo Nasandhura in Male, Maldives.
Recognised as one of the key events on the Maldivian tourism and travel industry calendar, SATA celebrated its 10th anniversary on a grand scale, bringing together prominent industry stakeholders, including Government Ministers, distinguished dignitaries, diplomats and senior representatives from leading airlines and their respective head offices.
Commenting on the achievement, Dimuthu Tennakoon, Head of Commercial, SriLankan Airlines, stated, “We are honoured to receive this recognition at the South Asian Travel Awards 2026. Being named the Leading International Airline in the Visitors’ Choice Awards once again is a meaningful acknowledgement of our commitment to serving our passengers and strengthening our presence in the region. This award inspires us to continue enhancing the travel experience we offer and to build stronger connections with the markets and communities we serve.”
Complementing its commitment to service excellence, SriLankan Airlines offers an extensive flight network with convenient connections to destinations across the globe. In South Asia, the airline operates nearly 130 flights each week to 15 destinations across India, Pakistan, the Maldives, Nepal, and Bangladesh. With schedules thoughtfully designed to suit the needs of travellers, SriLankan Airlines provides seamless connectivity for those visiting Colombo for business or leisure, as well as passengers travelling onwards to destinations worldwide.
Business
JXG enters LMD’s Most Respected Entities in Sri Lanka 2026 for the first time, securing a place among the first 50
JXG (Janashakthi Group), Sri Lanka’s leading financial conglomerate, has been ranked 44th in LMD’s Most Respected Entities in Sri Lanka 2026, marking the Group’s first appearance in the prestigious listing. The recognition places JXG among Sri Lanka’s most respected companies and marks an important milestone in the Group’s master-brand journey.
As the holding company, JXG was also recognised across key attributes including Aspirational Workplace, Business Expansion, Business Innovation, Corporate Culture, Corporate Dynamism, Crisis Management, Employee Wellbeing, Honesty and Integrity, and Leadership Profile. The recognition reflects the growing strength of the JXG brand and the collective contribution of its businesses and people in building trust and confidence among its stakeholders.
JXG’s subsidiaries, including Janashakthi Life and First Capital, have also been recognised in the main table of LMD’s Most Respected Entities 2026 rankings, while Janashakthi Finance has been recognised under the Business Expansion attribute, reflecting the strength of the Group’s individual businesses alongside its growing master brand.
Conceptualised and commissioned by LMD and conducted by PepperCube Research Consultants, the Most Respected Entities special edition recognises companies based on an independent survey of Sri Lanka’s business community.
Commenting on the recognition, Gamika de Silva, Group Chief Marketing Officer at JXG, said, “This is a proud moment for all of us at JXG. We set out to build a Group brand that is not just seen but lived by our people and reflected in everything we do. Ultimately, the true testament to any brand lies in its people, and the credit for this recognition goes to everyone across JXG who brings our values to life every day. This recognition is an encouraging milestone for us, while also reminding us to keep raising the bar and earning the respect of our stakeholders through what we do.”
JXG’s approach to building trust is anchored in its core values of Integrity, Collaboration, Respect, Performance Driven and Innovation. These values guide how its businesses operate, how its people engage with one another and how the Group serves its customers and wider stakeholders.
As JXG continues to expand its businesses, the Group remains focused on strengthening its market presence, creating long-term value and contributing to the growth of Sri Lanka’s financial services sector, guided by its purpose, Breaking Barriers, Forging Futures.
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