Business
Positive take on US-SL talks on tariff question buoys bourse
The stock market yesterday was active and positive following President Anura Kumara Dissanayake’s positive announcement to the effect that initial discussions with the US authorities on the reciprocal tariff on US imports were fruitful. This gave an impetus to the market yesterday, market analysts said.
Amid those developments the market performance was bullish and investor sentiment improved significantly. The All Share Price Index went up by 69.1 points, while the S and P SL20 rose by 16.37 points. Turnover stood at Rs 1.4 billion with four crossings. Those crossings were reported in DFCC, which crossed 500,000 shares to the tune of Rs 51.5 million; its shares traded at Rs 103, Commercial Bank 200,000 shares crossed for Rs 27.2 million; its shares traded at Rs 126, Sierra Cables 1.3 million shares crossed for Rs 21.8 million and its shares sold at Rs 6.8 and JKH 1 million shares crossed to the tune of Rs 20 million; its shares traded at Rs 20.
In the retail market top seven companies that mainly contributed to the turnover were; Hemas Holdings Rs 103 million (855,000 shares traded), LB Finance Rs 62.6 million (671,000 shares traded), DIMO Rs 59.3 million (56000 shares trade), Browns Investments Rs 59.2 million (7.8 million shares traded), Alumax Rs 58.6 million (6.7 million shares traded), Lanka Aluminium Rs 56.9 million (1.6 million shares traded) and Commercial Bank Rs 54.9 million (404,000 shares traded). During the day 54.7 million share volumes changed hands in 11000 transactions.
It is said that the banking and finance sector was the main contributor to the turnover; driven by DFCC and LB Finance, while the manufacturing sector was the second largest contributors to the turnover, especially with Sierra Cables and JKH.
Yesterday, the rupee opened lower at RS 300.05/10 to the US dollar in the spot market, slightly weaker from Rs 299.85/95 a day earlier, while bond yields were down.
“Sentiment is broadly positive following the latest comments from the US on tariffs, a dealer said. “There is also interest in 12-month bills, but not much on the 3-months ones.”
A bond maturing on 15.12.2026 was quoted at 8.85/95 down from 8.88/9.00 percent. A bond maturing on 15.09.2027 was quoted at 9.50/70 down from 9.64/70 percent. A bond maturing on 15.10.2028 was quoted at 10.17/20 down from 10.21/24 percent. A bond maturing on 15.12.2029 was quoted at 10.55/58 percent, down from 10.60/64 percent.
By Hiran H.Senewiratne
Business
USD 50 mn battery storage investment expected to power SL’s renewable energy push
Sri Lanka has taken a major step towards modernising its power infrastructure with the arrival of the country’s first commercial-scale Battery Energy Storage System (BESS), part of a USD 50 million investment expected to transform the integration of renewable energy into the national grid.
The first shipment of battery units arrived at the Port of Colombo recently for the landmark Galle and Matara BESS projects being developed by Galilee BESS (Pvt) Ltd, a subsidiary of KHEN Energy Limited. The projects are expected to play a pivotal role in enhancing grid stability, reducing renewable energy curtailment and strengthening the country’s energy security.
The shipment comprised 25 containers, including 18 battery units weighing 42 metric tonnes each, making it one of the largest and most technically demanding renewable energy cargo movements handled in Sri Lanka to date.
Energy industry officials describe the project as a milestone investment that will help bridge one of the biggest challenges facing renewable energy development—storing electricity generated from intermittent sources such as solar and wind power for use when demand peaks.
Once operational, the BESS facilities will support the National System Operator by absorbing excess renewable energy during periods of high generation and releasing it when required, thereby improving efficiency and reliability across the power network.
The technology is being supplied by global energy storage leader Sungrow Power Supply Co., Ltd., reflecting growing international confidence in Sri Lanka’s renewable energy sector and its long-term clean energy ambitions.
Beyond its energy significance, the project also highlights the increasing scale and sophistication of infrastructure investments entering the country.
Expolanka Freight (Pvt) Ltd was entrusted with the end-to-end logistics operation, overseeing customs clearance, specialised transportation, storage, unloading and final placement of the battery units at the project sites.
Finance and Project Director Fazul Ansar said the operation required extensive engineering studies, route assessments and rigorous safety planning owing to the hazardous classification and extraordinary weight of the cargo.
Head of Project Logistics Mohamed Niyas said months of preparation had gone into route surveys, lifting studies and risk mitigation planning to ensure the successful execution of the project.
Project officials said specialised multi-axle trailers and cranes with lifting capacities ranging from 100 to 150 tonnes were deployed for the operation, while access modifications and last-mile transport solutions were implemented at both project locations.
By Ifham Nizam
Business
AI and Data Analytics Summit 2026 drives the nation’s digital future
The AI and Data Analytics Summit 2026 organised by the Sri Lanka Section of BCS, the Chartered Institute for IT was successfully held on 22nd May 2026 at Waters Edge, Colombo. The high-impact summit themed “Next Generation AI & Data Analytics: Skills & Thoughts for the Intelligent Future” brought together senior policymakers, global technology experts, industry leaders, academics, and innovators to explore how Artificial Intelligence (AI) and Data Analytics are reshaping the nation’s digital and economic future.
The event, endorsed by the Ministry of Digital Economy, was graced by Waruna Sri Dhanapala, Secretary to the Ministry of Digital Economy, who attended as the Guest of Honour, underscoring the government’s strong commitment to advancing AI adoption, digital innovation, and data-driven governance in support of Sri Lanka’s broader public sector transformation agenda. Dr. Sadeep Jayasumana, Chief Scientist at Octave, delivered the keynote address on Generative AI, sharing insights into its transformative potential.
Speaking on the significance of the summit, Prof. Lasith Gunawardena, Chairman the Sri Lanka Section of BCS, the Chartered Institute for IT noted that Artificial Intelligence and Data Analytics have become present-day enablers of innovation, economic growth, and societal progress. He emphasized that the summit was guided by BCS’s purpose of Making IT Good for Society and by the national need to bring together thought leaders, practitioners, policymakers, and industry experts to foster collaboration, knowledge sharing, and the responsible adoption of transformative technologies, thereby strengthening Sri Lanka’s digital readiness and supporting a resilient, inclusive, and globally competitive digital economy.
Ransith Fernando, Chair of the summit mentioned ” This year’s summit brought together 21 speakers who shared valuable insights, ideas, and experiences. We heard inspiring success stories, gained practical knowledge from industry practitioners, and explored strategic perspectives from business leaders. These conversations highlighted both the opportunity and the responsibility before us. While innovation is accelerating globally, Sri Lanka must align policy, talent, and industry readiness to truly operationalize AI at scale and ensure an inclusive and sustainable digital transformation.”
Deshan Liyanage, Co-Chair of the AI and Data Analytics Summit 2026 commented that this year’s summit was a fully sold-out event, reflecting the growing national momentum around Artificial Intelligence and Data Analytics in Sri Lanka. He extended heartfelt gratitude to all participants who joined and contributed to the success of the summit, as well as to the sponsors whose support made the event possible. Special appreciation was conveyed to Sysco LABS as the Strategic Partner, Linear Six as the Bronze Partner, InTalent Asia as the Resource Partner, and Motivista as the Event Partner. He also acknowledged the valuable collaboration of industry associations including SLASSCOM, FITIS, and CSSL, whose partnership helped strengthen and elevate the initiative.
Business
Eswaran Brothers empowers women through a transformative leadership journey
As part of its commitment to advancing women’s empowerment and building a stronger leadership pipeline, Eswaran Brothers Exports (EB), a leading tea manufacturer in Sri Lanka, launched its flagship women’s leadership initiative, She Transforms, a customized six-month leadership development journey. Developed with award-winning leadership expert Senela Jayasuriya and supported by Value for Women, the programme forms a key pillar of the Company’s wider gender agenda focused on leadership capacity building, inclusion and long-term institutional change.
Women make up 44% of Eswaran Brothers’ workforce, yet only 23% held senior roles at the time of an initial gender diagnostic conducted with Value for Women and supported by FMO, the Dutch Development Finance Bank. The assessment found that despite their potential, many women faced unclear career pathways and limited structural support at critical life stages.
In response, Eswaran Brothers introduced strategic mindset and policy interventions designed to remove barriers and create a more enabling environment for women to grow and lead. These efforts included mentorship opportunities, enhanced support for employees returning from maternity leave, coaching for managers, and initiatives aimed at strengthening inclusion and career progression across the organization.
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