Business
Heavy buying interest in ACL Cables and LOLC Group counters
By Hiran H.Senewiratne
The bullish trend continued at the CSE yesterday as well due to positive market conditions, which was attributed to heavy buying interest on several companies/counters, including ACL Cables and LOLC Group companies, stock market analysts said, On the previous day, the CSE achieved a new milestone in its benchmark index ASPI, which crossed the 10,000 points level as investors turned bullish with active trading on expectations of improved corporate earnings despite the impact of the pandemic.
As a result, CSE market capitalization crossed the 50 percent year to date growth to 51.22 per cent or Rs. 4.47 trillion. The Central Bank’s certain policy adjustments for the increase of foreign reserves and positive quarterly results of many companies enabled the market to achieve new records, market analysts said.
ACL Cables shares appreciated by 18 percent or Rs 10.50. Its shares started trading at Rs 56.90 and suddenly shot up to Rs 67.40. Two LOLC Group companies, Commercial Leasing and Finance and Browns Investments were the main contributors to the All Share Price Index. Commercial Leasing contributed 30 points and Browns Investments contributed 26 points to the All Share Price Index. Meanwhile, Browns Investments share price appreciated by seven percent of 80 cents. Its shares started trading at Rs 10.70 and at the end of the day they moved to Rs 11.50.
Amid those developments both indices moved upwards. The All Share Price Index went up by 76.95 points and S and P SL20 rose by 17.95 points. Turnover stood at Rs 6.7 billion with two crossings. Those crossings were reported in Renuka Hotel PLC, which crossed 388,000 shares to the tune of Rs 35.7 million and its shares traded at Rs 92 and Richard Pieris two million shares crossed for Rs 35 million and its shares traded at Rs 17.50.
In the retail market, five companies that mainly contributed to the turnover were, Browns Investments Rs 1.28 billion (114 million shares traded), ACL Cables Rs 940 million (14.7 million shares traded), Expolanka Holdings Rs 809 million (3.6 million shares traded), Dipped Products Rs 281 million (5.3 million shares traded) and Hayley Rs 231 million (2.1 million shares traded). During the day 272.2 million share volumes changed hands in 46000 transactions.
It said high net worth and institutional investor participation was noted in JKH, HNB non-voting and Expolanka Holdings. Mixed interest was observed in Vallibel One, ACL Cables and LOLC Holdings, while retail interest was noted in Commercial Leasing and Finance and Browns Investments.
Meanwhile, Lanka Credit and Business Finance Limited (LCBF) offered up to Rs 125 million in ordinary shares at Rs 4.00 at the close of the opening day after over subscription, issue managers NDB Investment Bank said.
The IPO had attracted over Rs 500 million of applications a few hours after opening yesterday and was to close at 1630 hours. NDB Investment Bank is the financial advisor to the offer. NDB Investment Bank said it had helped the firm’s acquisition by the current owners and had helped in capital infusion to make a turnaround in the firm from a previously distressed state.
Yesterday the US dollar rate was Rs 203, which was the maximum controlled price imposed by the Central Bank to maintain and control the price escalations of essential items.
Business
USA–Sri Lanka Chamber of Commerce plans New York campaign to promote Tourism and Business
Timing aligns with national policy discussions
By Sanath Nanayakkare
The USA–Sri Lanka Chamber of Commerce is exploring an innovative promotional initiative to showcase Sri Lanka’s tourism, cultural heritage, and commercial opportunities in the heart of New York City during the upcoming Christmas and holiday season.
The proposed campaign aims to bring Sri Lanka’s unique identity to one of the world’s most internationally recognized cities through a mobile digital billboard featuring high-quality photographs and videos highlighting the island’s natural beauty, rich heritage, and diverse commercial offerings. Designed to capitalize on New York City’s significant holiday-season foot traffic, the initiative will reach American consumers, international tourists, and potential business partners.
The digital showcase will feature pristine beaches, scenic mountains, waterfalls, tea plantations, wildlife, ancient cities, Buddhist heritage, traditional arts, authentic cuisine, and modern attractions, positioning the country as a premier international travel destination. An interactive QR code linking to comprehensive tourism information will also be incorporated, allowing viewers to directly explore travel opportunities.
Beyond destination promotion, the initiative provides Sri Lankan businesses with a vital platform to introduce their products and services to the American market. Enterprises representing Ceylon tea, spices, food products, gems and jewellery, apparel, handicrafts, wellness, hospitality, and tourism will have the opportunity to showcase their brands alongside the broader national campaign.
The Chamber notes that this effort will be particularly beneficial for small and medium-sized enterprises (SMEs) seeking greater international exposure, brand recognition, and commercial partnerships in the United States. By integrating tourism promotion with commercial visibility, the project aims to strengthen Sri Lanka’s international image while supporting trade, investment, and business development.
Operating under the central message of “Discover Sri Lanka. Experience Sri Lanka. Visit Sri Lanka,” the campaign presents the island as a destination defined by natural beauty, cultural richness, distinctive products, and entrepreneurial potential. More information on the initiative is accessible at www.usaslcc.org.
Tourism sector stakeholders have welcomed the move, noting that private-sector-led initiatives of this nature bypass cumbersome bureaucratic procurement procedures and complex tender processes typically associated with state-run promotional campaigns abroad.
The timing aligns with recent national policy discussions regarding tourism promotion. Participating in a Fireside Chat at the inauguration of the Sri Lanka Economic and Investment Summit 2026, organized by the Ceylon Chamber of Commerce, President Anura Kumara Dissanayake emphasized that a proper procurement mechanism needs to be established before acquiring tourism promotional concepts, recommending a performance-based system where agencies are compensated according to verified growth in tourist arrivals.
Business
Seylan Bank partners Colombo Motor Show 2026 as official banking and leasing partner
For 10th consecutive year
Seylan Bank PLC, the Bank with a Heart, has reaffirmed its commitment to supporting Sri Lanka’s automotive industry by partnering with the 20th edition of the Colombo Motor Show 2026 as the Official Banking & Leasing Partner for the 10th consecutive year. This makes Seylan Bank the longest-standing partner of the Colombo Motor Show, further reflecting its longstanding association with one of Sri Lanka’s most prominent automotive exhibitions. The four-day exhibition is scheduled to take place from 20th to 23rd November 2026 at the Bandaranaike Memorial International Conference Hall (BMICH), marking the first time the Colombo Motor Show will be held as a four-day event.
As one of Sri Lanka’s leading international motor and motor accessories exhibitions, the Colombo Motor Show will bring together vehicle enthusiasts, prospective buyers, industry professionals and automotive service providers. The 2026 edition is expected to feature over 200 trade stalls covering motor vehicles, accessories, spare parts, lubricants, tyres, batteries, leasing facilities and other motor-related services.
Through its continued partnership, Seylan Bank will showcase a comprehensive range of financial solutions designed to support customers in meeting their personal and business needs, with a particular focus on Seylan Leasing facilities. Visitors to the exhibition will have the opportunity to receive on-the-spot leasing evaluations and expert guidance from Seylan Leasing Specialists, helping them explore vehicle financing options conveniently during the event.
Business
WCIC sharpens focus on scaling women-owned businesses
The Women’s Chamber of Industry and Commerce (WCIC) is sharpening its focus on helping women entrepreneurs move beyond business creation towards sustainable growth, as it expands its membership, partnerships and advocacy footprint.
WCIC Chairperson Gayani de Alwis, concluding her second tenure, highlighted the Chamber’s efforts had increasingly centered on creating pathways for women to translate entrepreneurial ambition into viable enterprises and, importantly, build those businesses for the longer term.
“Ultimately, our impact is not measured by the number of programmes we conducted, but by the women whose businesses grew, whose voices became stronger, whose horizons expanded and whose contribution to the economy became greater,” she said addressing the WCIC 41st Annual General Meeting (AGM) held on 22 September for which the Chief Guest was Canadian High Commissioner to Sri Lanka and the Maldives Isabelle Martin.
The focus has included a special initiative for female university students with an entrepreneurial mindset, regional chapter initiatives in the Northern Province, capacity-building programmes and the inaugural ‘Beyond Ramp Up’ workshop.
The Chairperson said these initiatives were designed to move women “from aspiration to enterprise, and from enterprise to sustainable growth”, signaling a broader focus on strengthening the progression of women entrepreneurs beyond the initial stages of business formation.
WCIC recorded a 20 percent increase in membership during the period with membership crossing 460 and expanded its ecosystem through a series of strategic partnerships.
Internally, WCIC moved to strengthen its governance framework, revising its Articles of Association to ensure regulatory compliance and introducing a Code of Conduct and Board self-assessment. Clearer organisational roles, job descriptions and performance targets were also introduced as part of efforts to strengthen accountability and professionalise its operations.
Reflecting on her tenure, the Chairperson said the period had been about building a stronger, more connected and professionally governed organisation, while converting its wider ambitions into tangible opportunities for women in business.
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