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CSE continues in panic-selling mode as investor fears persist

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The CSE indicated some panic-selling yesterday as well, as investors seemed to agonize over lingering economic uncertainties coming in the wake of the flood havoc, market analysts said.

The All Share Price Index went down by 356.4 points, while the S and P SL20 went down by 97.84 points. Turnover stood at Rs 3.7 billion with six crossings.

Those crossings were reported in JKH, where 11 million shares crossed to the tune of Rs 236.5 million; its shares traded at Rs 21.50, Hemas Holdings three million shares crossed to the tune of Rs 106 million; its shares sold at Rs 35, CIC Holdings 1 million shares crossed for Rs 32.5 million; its shares traded at Rs 32.50, ACL Cables 100,000 shares crossed for Rs 24 million; its shares traded at Rs 240, Commercial Bank 120,000 shares crossed for Rs 23.9 million; its shares traded at Rs 198 and Access Engineering 300,000 shares crossed for Rs 21.3 million; its shares sold at Rs 71.

In the retail market companies that mainly contributed to the turnover were; Access Engineering Rs 282 million (3.98 million shares traded), Hemas Holdings Rs 150 million (4.3 million shares traded), JKH Rs 125.5 million (5.8 million shares traded), Colombo Dockyards Rs 118 million (286,000 shares traded), HNB Rs 114 million (291,000 shares traded), Tokyo Cement (Non-Voting) Rs 100 million (1.4 million shares traded) and Sierra Cables Rs 94 million (2.9 million shares traded). During the day 171 million share volumes changed hands in 37,367 transactions.

It is said that manufacturing sector counters, especially JKH and Hemas Holdings, contributed mainly to the market while the banking sector, especially Commercial Bank, was active in the market too. Further, construction sector counters, especially Access Engineering, contributed to the turnover.

Yesterday, the rupee was quoted at 308.85/309.00 to the US dollar in the spot market, weaker from 308.80/90 on Tuesday, dealers said, while bond yields recovered on the shorter tenors and were somewhat steady on the longer tenors.

The details as follows:

A bond maturing on 15.03.2028 was quoted at 9.18/20 percent, down from 9.20/25 percent.

A bond maturing on 15.06.2029 was quoted at 9.53/58 percent.

A bond maturing on 01.07.2030 was quoted flat at 9.65/75 percent.

A bond maturing on 15.03.2031 was quoted at 9.95/10.10 percent.

A bond maturing on 15.12.2032 was quoted at 10.35/40 percent, down from 10.35/45 percent.

By Hiran H Senewiratne



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Ceylon Chamber’s Investment Summit 2026 to steer Sri Lanka beyond stabilisation

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President Anura Kumara Dissanayake will inaugurate the Sri Lanka Economic and Investment Summit 2026 today, at the Shangri-La Colombo

Sri Lanka’s national economic discourse takes center stage today as the country’s premier private-sector body, The Ceylon Chamber of Commerce, hosts the Sri Lanka Economic & Investment Summit 2026 at the Shangri-La Colombo.

Convening on October 12 and 13, the two-day summit brings together an influential gathering of senior policymakers, international financiers, multilateral development partners, and private-sector captains to chart the island’s next phase of macroeconomic growth.

Held under the theme “Positioning Sri Lanka in a Changing Global Economy: Resilience, Reform, and the Future of Economic Policy,” this year’s forum marks a critical inflection point in the nation’s post-crisis trajectory.

As Sri Lanka shifts its emphasis from immediate financial stabilization toward sustainable, long-term expansion, the summit aims to address the structural imperatives necessary to secure high-impact foreign direct investment (FDI), deepen regional trade integration, and unlock emerging sectors of economic activity.

The core agenda over the two days focuses on building resilience across volatile global market cycles while executing targeted policy reforms. Key working sessions will examine:

Regional Value Chains & Trade Integration: Leveraging Sri Lanka’s strategic Indian Ocean geography to capture higher-value export flows and commercial linkages.

Energy & Infrastructure Transformation: Accelerating renewable energy integration and modernizing national utility policy.

Digital Economy & Public Modernization: Deploying digital technologies across public administration and financial services to enhance operational efficiency and transparency.

Sectoral Priorities: Modernizing healthcare infrastructure and agricultural value-addition to build a robust domestic economic base.

A defining feature of this year’s summit is the strong convergence between state policy and global commercial expertise. Keynote addresses and panel discussions will feature prominent leaders, including Prime Minister Dr. Harini Amarasuriya and T. Krishnakumar, Chief Executive Officer of Reliance Consumer Products Ltd.

They will be joined by senior delegations and policy experts from major global institutions, including:

= The Asian Development Bank (ADB)

= The International Finance Corporation (IFC)

= Standard Chartered Bank

= Zydus Lifesciences

The active participation of the country’s highest executive and legislative leadership across both days underscores a clear policy commitment to private-sector-led growth. By establishing a direct, high-level platform for dialogue between investors and policymakers, the Ceylon Chamber’s summit seeks to refine regulatory frameworks, improve the ease of doing business, and establish a clear, predictable environment for capital formation in the years ahead.

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White House blocks Microsoft from foreign worker hiring programme

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The White House has often made extreme claims regarding international workers and immigration

Microsoft and several other technology firms have been barred by the White House from hiring skilled international workers on a permanent basis through a widely used visa programme.

US Vice-President JD Vance on Thursday accused Microsoft alongside other firms of committing fraud through the use of the H-1B visa programme and a related process for workers from abroad to become permanent US residents.

Vance claimed that Microsoft, one of the most valuable companies in the US, has been effectively replacing American workers with “foreign indentured servants.”

Microsoft said most of the H-1B visas filed over the last financial year were for existing workers, who are paid the same as local staff.

“No company in the US has abused this system more than Microsoft,” Vance said.

He also made similar accusations about Adobe, Cognizant, Infosys, Tata, Wipro, HCL and Capgemini.

The US government will not process any new or pending Permanent Labor Certification Program (PERM) applications from Microsoft or the seven other companies, Secretary of Labor Keith Sonderling said during the same conference.

Sonderling said companies like Microsoft, as well as US universities, have turned into “visa mills” that were “flooding” the US with foreign workers.

The BBC has contacted all of the companies for comment.

The total number of H-1B visas, a precursor to anyone seeking to go through the PERM process, is capped at 85,000 per year.

A spokeswoman for Microsoft noted to the BBC that “the vast majority of Microsoft employees in the United States are Americans.” The company employs more than 200,000 people worldwide.

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ComBank unites stakeholders to prepare agri sector for El Niño

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El Nino awareness programmes conducted by the Bank

In response to emerging climate risks, the Commercial Bank of Ceylon has launched a proactive initiative through its Development Credit Department, to equip Sri Lanka’s agricultural sector against the potential impacts of the 2026 El Niño climate pattern.

Seeking to move the industry from reactive loss management to early climate preparedness, the Bank partnered with leading state universities to execute a two-part educational and technological intervention in September 2026.

The initiative comes at a critical juncture. Sri Lanka’s Department of Meteorology reported an 80% probability of El Niño conditions emerging between June and August 2026, with effects expected to persist through November and beyond. As highlighted by the Food and Agriculture Organization (FAO), El Niño acts as a risk multiplier for rural livelihoods, food production, and water supply.

To mitigate these threats, the Bank’s initiative creates a collaborative network uniting academic institutions, agricultural extension services, technology providers, farming communities, and the financial sector. The awareness programme on El-Niño and its impact on agriculture was supported by 12 Commercial Bank branches, and engaged with more than 1,100 farmers at 15 diverse locations, including Vattapalai, Muththajankaddu, Palampas, Oddusuddan, Siyambalanduwa, Lindula, Neluwa, Kalawana, Pannala, Madampe, Mannar, Vavuniya and Kumalamunai.

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