Business
Bullish uptick in share market as country goes to the polls
By Hiran H.Senewiratne
The CSE was bullish yesterday ahead of the general election and also in consideration of the impending debt restructuring process, stock market analysts said.
“With one election over, the market is expecting the same sentiment to continue. There is a reduction in political uncertainty. Further, banking sector counters were very active and half of their turnover was reported from a DFCC Bank crossing and retail trading, market analytics added.
Amid those developments the ASPI closed in green on most days and the All Share Price Index crossed the 13,000 mark. The All Share Price Index went up by 136.2 points while S and P SL20 rose by 54.56 points.
Turnover stood at Rs 6.98 billion with seven crossings. Those crossings were reported in DFCC, which crossed 39 million shares to the tune of Rs 3.3 billion; its shares traded at Rs 85, Sampath Bank 1.25 million shares crossed for Rs 112.5 million and its shares traded at Rs 90, JKH 2 million shares crossed to the tune of Rs 42.9 million; its shares traded at Rs 21.50, Agarapathana Plantation 3.3 million shares crossed for Rs 29.5 million; its shares traded at Rs 9, NTB 200,000 shares crossed to the tune of Rs 29 million; its shares traded at Rs 144, Commercial Bank 200,000 shares crossed for Rs 23.7 million; its shares sold at Rs 118.50, and NDB 25000 shares crossed to the tune of Rs 21.7 million; its shares traded at Rs 87.
In the retail market top seven companies that mainly contributed to the turnover were; Sampath Bank Rs 272 million (3 million shares traded), JKH Rs 228 million (10.6 million shares traded), NDB Rs 187 million (1.9 million shares traded), DFCC Rs 159 million (1.9 million shares traded), LMF Rs 141 million (4.4 million shares traded) and Browns Investments Rs 135 million (21.5 million shares traded). During the day 205 million share volumes changed hands in 25664 transactions.
It is said that Banking stocks have been appreciating since the announcement in September that Sri Lanka had reached agreements in principle on the restructuring of approximately US $ 14.2 billion of sovereign debt with international sovereign bond (ISB) holders.
Under the deal, local banks would be able to exchange 70 percent of their ISBs into dollar bonds with a 10 percent haircut. The balance 30 percent would be exchanged for rupee securities.
Non-financial finance institutions stocks, particularly those with an exposure to vehicle leasing, have also seen investor interest since the government announced a lifting of the vehicle import ban, Softlogic Stockbrokers said.
An IMF team led by Peter Breuer, senior mission chief for Sri Lanka, is expected to visit Colombo next week to conduct the third review for Sri Lanka’s economic reform program supported by the IMF’s Extended Fund Facility, a spokesperson said.
But for an IMF program review to pass, a staff level agreement has to be crafted with fiscal and monetary targets for the next year. For that a budget in line with program parameters is required.
A budget is planned only in February next year and until then a vote-on-account will be presented, he said.
Yesterday the rupee was trading stronger at Rs 292.25/35 to the US dollar from Rs 292.45/55 to the US dollar, dealers said, while bond yields were considerably down.
A bond maturing on 15.12.2027 was quoted at 10.95/11.05 percent, from 11.10/25 percent. A bond maturing on 15.02.2028 was quoted at 11.25/33 percent. A bond maturing on 15.09.2029 was quoted at 11.60/70 percent, down from 11.65/80 percent. An auction of Rs. 147,500 million of Treasury bills was ongoing.
Business
Ogilvy Group tops award tally at Dragons of Sri Lanka 2026
Nine awards, including two Golds, across disciplines recognise business-driven creativity
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, a company news release said.
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.”
The Ogilvy Group’s second Gold Dragon win was Phoenix Ogilvy’s recognition in the Product Launch or Re-Launch category for the relaunch of American Premium Water. It was a multi-dimensional campaign which refreshed the identity and rejuvenated the positioning of one of Sri Lanka’s pioneering bottled drinking water brands, bolstering its 30-year heritage while connecting with a new generation of consumers.
Commenting on the win, Siddhartha Roy, Chief Operating Officer at Phoenix Ogilvy, said, “There’s always something special about reimagining a brand with a rich heritage. American Premium Water has been a trusted name in Sri Lanka for more than three decades, but the challenge was to make it relevant and compelling for a new generation of consumers. We created a new blueprint for growth for the brand’s positioning, proposition and visual identity, and manifested it through design, packaging and storytelling. To see that transformation recognised with a Gold Dragon, and more importantly reflected in the brand’s renewed momentum in the market, makes this a particularly rewarding achievement.”
The Ogilvy Group Sri Lanka operates across multiple marketing communication disciplines and comprises over 290 staff in creative, strategy, digital, media, public relations and integrated communications. As part of the global Ogilvy network, the Group partners with leading local and international brands to create integrated campaigns that build brands, influence behaviour and drive business growth.
Business
Musical tribute to Fr. Marcelline Jayakody held in California
A musical tribute celebrating the life and legacy of Rev. Fr. Marcelline Jayakody, OMI, renowned for his contribution to Sri Lankan arts, music, culture and religious harmony, was held in California with the participation of a large gathering of Sri Lankans.
Titled “Sri Lanka Rani Maniye,” the event was organised by the Sri Lankan Catholic Community in California (SLCCC) under the guidance of Rev. Fr. Rashmi M. Fernando, S.J.
The programme honoured Fr. Jayakody, affectionately known as “Pansale Piyathuma” (The Priest of the Temple), for his efforts to promote Buddhist-Catholic understanding, interfaith dialogue and a shared Sri Lankan identity.
The event brought together members of the Maha Sangha, the Consul General of Sri Lanka in Los Angeles, musicians, singers, donors, parents, children and members of the Sri Lankan community from Los Angeles and other parts of Southern California.
Music, song and Sri Lankan cultural traditions featured prominently, with organisers placing particular emphasis on introducing the country’s artistic and cultural heritage to younger generations of Sri Lankans growing up overseas.
The programme also highlighted the importance of community unity, religious harmony and mutual respect among Sri Lankans living abroad.
Rev. Fr. Fernando told the gathering that the event marked only the beginning of efforts that could achieve more through unity “for the pride and greater good of our motherland, Sri Lanka.”
The organisers thanked the performers, volunteers, donors and well-wishers who contributed to the event, which concluded as a celebration of Fr. Jayakody’s enduring cultural legacy and the Sri Lankan diaspora’s continuing connection with its homeland.
Business
Hayleys Fentons completes Rs. 1 bn manufacturing facility in Wathupitiwala
Hayleys Fentons Limited has completed construction of a state-of-the-art manufacturing facility for Shield Restraint Systems (Pvt) Ltd at the Wathupitiwala Export Processing Zone, with the project completed on schedule within approximately 14 months.
The project, valued at more than Rs. 1 billion, commenced with the laying of the foundation stone on January 7, 2025. It was undertaken by the project arm of Hayleys Fentons, with Design Consortium International (Pvt) Ltd serving as the principal design consultant.
The facility has been designed to meet international industry standards and incorporates advanced safety and energy-efficiency features. A pre-engineered building structural system was used to facilitate faster construction and optimise project costs.
The new facility will manufacture safety restraint systems for the international automotive industry through Shield Restraint Systems.
Hayleys Fentons Deputy Managing Director – Projects Sujith De Alwis said the timely completion of the project demonstrated the company’s engineering and project management capabilities and the ability of Sri Lankan construction expertise to meet stringent international standards.
Hayleys Mobility Executive Director Roshani Dharmaratne said the project required detailed planning, quality management and coordination across multiple disciplines.

Sujith De Alwis, Deputy Managing Director – Projects of Hayleys Fentons Limited and Roshani Dharmaratne, Executive Director of Hayleys Mobility Limited
Chairman Design Consortium Migara Alwis said the project further strengthens its portfolio in specialised industrial construction and supports investment linked to Sri Lanka’s participation in the global automotive supply chain.
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