Business
Selling rate of dollar exceeds Rs. 202 mark

By Hiran H.Senewiratne
Sri Lanka’s rupee quoted weaker at 199.90/200.25 to the one week US dollar yesterday, while yields remained unchanged. As a result, stock market investor participation also became very low, stock market analysts said.
The Sri Lankan rupee has further depreciated against the US dollar with the selling rate of the dollar exceeding the 202-mark for the first time in history.
According to the daily exchange report of the Central Bank of Sri Lanka (CBSL), the current buying rate of the US Dollar stood yesterday at Rs. 197.62 and selling rate of the US dollar stood at Rs. 202.04.
This is the first time in history that the selling rate of a US dollar exceeded the Rs.202 mark. The rupee last closed in the one-week forward market at 199/200 to the US dollar. Amid those developments, both indices indicated mixed reactions. All Share Price Index went up by 6.16 points and S and P SL20 went down by 31.06 points. Turnover stood at Rs. 777.9 million with two crossings. Those crossings were reported in Expolanka where 815,000 shares crossed for Rs. 36.7 million and its shares traded at Rs. 45 and Lion Brewery 50000 shares crossed for Rs. 27 million, its shares traded at Rs. 540.
In the retail market, five companies that mainly contributed to the turnover were, Piramal Glass Rs. 93.7 million (8.4 million shares traded), Hayleys Rs. 66.5 million (1.1 million shares traded), Richard Pieris. Rs. 55.8 million (3.3 million shares traded), Expolanka Rs. 45.5 million (one million shares traded) and Dipped Products Rs. 43.4 million (916,000 shares traded). During the day 45.1 million share volumes changed hands in 9899 transactions.
During the day banking sector counters witnessed a dip, especially HNB, Sampath Bank and Commercial Bank, following the exclusive dividend announced on the three banks, market analysts said.
Business
IceWarp expands into Sri Lanka, fostering European innovation in collaboration with FentonsIT

IceWarp, a global leader in business communication solutions, has officially launched its cutting-edge platform in Sri Lanka, bringing European expertise in email and collaboration solutions to support the country’s evolving business landscape.
This expansion is driven by a strategic partnership with Fentons Information Technology (FIT), the Information Technology arm of Hayleys Fentons Limited.
The grand launch event held at The Kingsbury Colombo on 4th April, 2025, was graced by several distinguished guests, including Chief Guest Mohan Pandithage, Chairman and Chief Executive of Hayleys PLC.
The presence of Adam Paclt, Global CEO of IceWarp, and Pramod Sharda, CEO for India and the Middle East of IceWarp, along with their global team, highlighted the significance of this expansion. Industry experts, government officials, corporate leaders, and CIOs from the banking, financial services and insurance sectors were in attendance as well, reflecting strong local interest in IceWarp’s European expertise.
With this launch, Sri Lankan businesses now have access to an affordable, scalable and secure alternative to Microsoft 365 and Google Workspace. IceWarp’s advanced Collaboration Suite integrates a wide range of tools into a single, unified platform designed to streamline communication and boost productivity. Offering flexible hybrid deployment options and cost-efficient solution, IceWarp enables organisations to optimise their operations without compromising security or functionality.
Business
Eventistry Sports launches Sri Lanka’s inaugural franchise padel league

Eventistry Sports, a trailblazer in innovative sporting events, has unveiled the Sri Lanka Padel League (SLPL), the nation’s first franchise-based padel tournament, set to debut in June 2025. This groundbreaking league promises to redefine Sri Lanka’s sports landscape by creating a dynamic national platform for athletes while fostering unity among fans, brands, and communities.
The SLPL will showcase six franchise teams, each embodying the spirit of iconic Sri Lankan locales: the Colombo Chargers, Yala Rangers, Hikkaduwa Riders, Ella Hawks, Arugambay Vipers, and Trinco Warriors. These teams will not only ignite regional pride but also unite the country through a shared passion for padel—a fast-paced racquet sport merging tennis and squash, played on enclosed courts.
“The SLPL is more than a league; it’s a movement,” declared Karin Wijeratne, Director of Eventistry Sports. “By blending franchise sports with Sri Lanka’s vibrant culture, we’re creating a platform where players gain national recognition, fans rally behind their hometown heroes, and brands engage with communities in meaningful ways.”
The league’s launch on June 21–23, 2025, at Colombo’s Padel House courts (CR&FC) will kick off with three days of high-octane matches, preceded by a star-studded player auction on May 16th at The Vault, Colombo City Centre. Local talent—both professional and intermediate—will be drafted by franchise owners, with international registrations now open to elevate the competition’s global appeal.
Please log in to: www.slpadelleague.com and social media: @SriLankaPadelLeague (Facebook & Instagram) for more information.
Business
Ceylon Energy and HJT China complete key power projects under SESRIP in Sri Lanka

Ceylon Energy and HJT China have successfully completed the Mahiyangana-Kappalthurei 33kV power distribution lines and the Uhana Gantry as part of Sri Lanka’s Supporting Electricity Supply Reliability Improvement Project (SESRIP). Funded by the Asian Development Bank ($42 million), SESRIP aims to expand energy access in underserved regions, including conflict-affected areas and provinces like Uva and North Central.
The project’s infrastructure spans over 270 km of 33kV lines, 13 switching gantries, and 2,372 km of low-voltage extensions.
The projects connect 35,000+ households and improve reliability for 493,000+ consumers; integrates renewables to reduce losses.
The projects’ notable components include: Mahiyangana-Bibila Line: 36 km with 147 steel towers and Kappalthurei-Sixth Mile Post Line: 14 km with 58 towers.
Ceylon Energy Chairman Madushanka Fernando hailed it as a ‘new beginning of a brighter era’, emphasising the project’s role in uplifting rural communities and driving sustainable development.
The initiative underscores Sri Lanka’s commitment to inclusive, reliable energy and climate resilience.
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