Business
Top stock market stakeholders in ‘productive’ meet
The SEC Chairman, Faizal Salieh, along with top officials from the SEC and the CSE, recently held a productive engagement with the stockbroker community to discuss vital matters concerning the industry. The meeting which brought together owners and Chief Executive Officers of stockbroker firms was aimed at enhancing regulatory compliance, promoting healthy market practices and ensuring industry sustainability.
Salieh underscored the significance of establishing strong governance structures and the minimal governance standards that would apply to market intermediaries with effect from 4th July 2023, with a 6 months transition period to fully comply. To ensure Board independence and impartiality during a conflict of interest, all market intermediaries (including stockbrokers) are required to have minimum of three Directors of whom at least one shall be a Non-Executive Director.
Where the roles of Chairman and CEO are combined, an Independent Non-Executive Director shall be appointed as the Senior Independent Director (SID) with powers equal to the Chairman enshrined in a Board approved policy and Terms of Reference, so that intervention by the SID is facilitated during Board proceedings where there is a perceived conflict of interest.
In order to ensure that the industry offers sound client service, the quality of Registered Investment Advisors (RIAs) was discussed. The SEC Chairman mentioned that that the SEC will be increasing its focus on and strengthening the annual fit and proper assessments of RIAs at the point of renewing stockbroker licences. He encouraged the stockbroker community to work towards making the industry more attractive for the employment of high quality RIAs.
The importance of the compliance role at the market intermediary level was discussed. SEC officials stated that some intermediaries do not have a thorough understanding about the compliance requirements and the role of Compliance Officers. Compliance Officers are required to be independent of general operations and should directly report all compliance related matters to the Board.
They emphasized the need for all intermediaries to ensure that such reporting lines are effectively established.
The SEC Chairman highlighted that the main reason for inviting the owners of the stockbroker firms to the meeting was to draw their attention to the need for institution building in order to ensure the sustainability of the stockbroking industry. It is essential that the stockbroking industry moves forward with the development in technology and make continuous enhancements to their infrastructure. In this context, the SEC Chairman suggested that a considerable percentage of the profits, made by the stockbroker firm (atleast 25%) should be ploughed back towards institutional development expenditure.
Discussing the role of stockbroking firms in market development, the Chairman called upon the firms to submit their annual business plans to the SEC and stated that this will be a requirement at the point of renewing stockbroker licences. Licences will not be renewed for inactive stockbroking firms. (SEC)
Business
DIMO KNIGHTS 2026 Reinforces a Culture of Recognition and Growth
DIMO celebrated DIMO KNIGHTS 2026, recognizing employees whose exceptional dedication, leadership, innovation, and commitment continue to shape the organization’s success. More than an employee recognition event, DIMO KNIGHTS reflects DIMO’s unwavering commitment to cultivating a workplace where people are empowered to thrive, reinforcing the Employee Value Proposition of ‘Making Work Enjoyable and Rewarding’ while bringing its Corporate Purpose of Fuelling Dreams and Aspirations to life.
Held under the theme “Illuminating Leadership, Inspiring Achievement,” the event celebrated individuals who exemplify DIMO’s values and inspire excellence across the organization. By recognizing those who consistently go above and beyond, DIMO continues to foster a high-performance culture where people are empowered to innovate, lead, and create meaningful impact.
A highlight of the evening was the keynote address delivered by Mr. Ravi Kant, former Managing Director and Vice Chairman of Tata Motors India, who shared valuable insights on leadership, organizational transformation, and building resilient organizations capable of sustaining long-term success.
Commenting on the event, Ms. Dilrukshi Kurukulasuriya, Executive Director / Chief Human Resources Officer of DIMO, said: “Our Tribe is the driving force behind DIMO’s continued success. DIMO KNIGHTS is more than a celebration of outstanding performance; it is a reflection of the culture we strive to build every day. By recognizing and empowering our people, we reinforce our Employee Value Proposition of ‘Making Work Enjoyable and Rewarding’ while bringing our Corporate Purpose to life. When our people grow, innovate, and thrive, they create lasting value for our customers, partners, and the communities we serve.”
DIMO KNIGHTS reinforces the organization’s people-first philosophy by fostering a culture of appreciation, continuous learning, and purposeful leadership. The programme reflects DIMO’s conviction that when employees are empowered, recognized, and inspired to excel, they shape the future of the organization through innovation, collaboration, and sustained excellence, strengthening a high-performing culture that delivers lasting value, drives sustainable business success, and reinforces DIMO’s position as an employer of choice.
The evening recognized employees across a wide range of categories, celebrating outstanding performance, innovation, collaboration, customer focus, and leadership. The ceremony culminated with the presentation of the prestigious Innovator of the Year and Employee of the Year awards, with the Employee of the Year accolade presented to Mr. Chathura Gunasekera.
As DIMO continues to invest in developing exceptional talent, initiatives such as DIMO KNIGHTS reaffirm the organization’s belief that sustainable business success begins with its people. By creating an environment where individuals are recognized, empowered, and inspired to achieve their full potential, DIMO continues to cultivate a purpose-driven, high-performing workforce that is equipped to shape the future of the organization while delivering lasting value to all stakeholders.
Business
Sri Lanka’s lifestyle coffee culture boom and the two faces of its economy
By Sanath Nanayakkare
On Baseline Road in Colombo, Barista Coffee recently opened its 100th outlet. For a modern café culture spreading across shopping centers, office districts, and provincial towns, this milestone is a major commercial success. It shows a thriving urban service sector and a growing class of lifestyle consumers who use coffee shops as places to work, socialise, and meet.
This is a curious new picture emerging from Sri Lanka’s post-crisis economic recovery: the coffee cup is getting bigger, even as the household tea cup tells a very different story.
Yet, looking past the espresso machines, a different reality unfolds in the country’s kitchens.
International financial institutions note that while Sri Lanka’s macro-economy is recovering, household welfare and employment remain below pre-crisis levels. Poverty rates sit at roughly double what they were in 2019, and food prices doubled over a three-year span, forcing families to cut back on essentials.
This creates a striking local paradox, especially given Sri Lanka’s proud heritage as a global tea producer. While the world pays top dollar for Ceylon Tea, local market studies and industry reports have long pointed out an unfortunate disparity: many ordinary families find high-quality tea too expensive, often settling for lower-grade alternatives at home.
The growth of a 100-outlet coffee network does not mean prosperity has spread evenly across the island. Instead, it proves that there is a specific, well-resourced segment of consumers with the purchasing power to sustain a premium lifestyle economy, even as many other households carefully calculate the cost of everyday groceries.
Barista’s 100th store is not a bad-news story; it is a testament to acute entrepreneurial grit, shifting consumer behavior, and the vital revival of the nation’s urban service sectors. But it serves as an uncompromising reminder that macroeconomic stabilisation is not synonymous with household recovery.
As Colombo’s coffee culture looks toward its next hundred outlets, the true pulse of the nation’s economic health will not be measured by the espresso machines humming in sleek urban hubs, but by the quiet arithmetic happening in millions of kitchens beyond its doors – where the fundamental question remains whether a family can comfortably afford a better cup of Ceylon Tea.
Business
Aitken Spence Hotel Holdings Rs. 5 billion debenture issue oversubscribed on opening day
Aitken Spence Hotel Holdings PLC announced that its maiden listed, rated, unsecured, senior
redeemable debenture issue was oversubscribed on its opening day, 15th September 2026.
The Company sought to raise Rs. 3 billion through an initial issuance of 30 million debentures at Rs.
100 each, with an option to issue a further 20 million debentures in the event of oversubscription of the initial issue, increasing the total issue size to Rs. 5 billion.
The Company said it had received applications for more than 50 million debentures, the full amount on offer, prompting the issue to close at 4:30 p.m. on the opening day (15).
The basis of allotment will be announced to the Colombo Stock Exchange as per regulatory requirements in due course.
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