Business
‘CSE has bounced back, spurred by positives’
By Hiran H.Senewiratne
CSE has bounced back, encouraged by the positives and future upside, State Minister of Money and Capital Market and State Enterprise Reforms Ajith Nivard Cabraal said.
“The CSE has so much value as stocks are grossly under-priced. While it is true that foreign investors have sold out to the tune of over Rs. 30 billion, Sri Lankans have reinforced confidence by buying foreign holdings and it reflected the actual depth of the local investor base, “Cabraal told an investor forum titled “Twenty 21 and Beyond” organised by Softlogic Stockbrokers on Tuesday. He told capital market players that if they can succeed in securing 1 percent of a Rs. 10 trillion deposit base of banks and finance companies, the CSE will benefit by Rs. 100 billion in captive funds. “This is the true potential of the CSE, and stakeholders must harness it,” he said. Cabraal also recalled that even in its best effort, state funds such as the EPF, invested only Rs. 70 billion.
Amid those developments the CSE was bullish yesterday with heavy trading in the market. However, Expolanka which traded heavily during the last few days saw a price drop following its announcement they have no undisclosed price sensitive information in relation to Expolanka. Therefore, its stock price dropped by 30 cents during the day, sources said.
However, both CSE indices moved upwards; i.e, the All Share Price Index was up by 51.71 points and S and P SL20 up by 24.15. Turnover stood at Rs. 3.53 billion with six crossings.
Those crossings were reported in HNB, which crossed 26 million shares to the tune of Rs. 318 million, its share price trading at Rs. 123, CCS 126,000 shares crossed for Rs. 81.9 million, per share value Rs. 650.10, JKH 414,000 shares crossed for Rs. 56.3 million, per share value being Rs. 136, Central Finance 371,000 shares crossed for Rs. 29.3 million, per share value standing at Rs. 79, Melstacorp 700,000 shares crossed for Rs. 23.5 million at a per share value of Rs. 33.50 and DFCC 294,000 shares crossed for Rs. 20 million, per share value being Rs. 68.
In the retail market top five companies that mainly contributed to the day’s turnover were; Expolanka Rs. 465 (49 million shares traded), Tokyo Cement Rs. 165 million (3.3 million shares traded), Melstacorp Rs. 156.5 million (4.7 million shares traded), ACL Cables Rs. 154 million (three million shares traded) and JKH Rs. 151.6 million (1.1 million shares traded). During the day 85.1 million share volumes changed hands in 27759 transactions.
During the day several companies, Tokyo Cement, Lanka IOC, Melstacorp, LMF and ACL Cables witnessed more than 9 percent gain in their respective shares. During the day 169 companies’ shares prices moved up and only 55 companies’ prices depreciated.
Chevron Lubricants Lanka PLC has appointed Muhammad Najam Shamsuddin as their new Managing Director & CEO with effect from October 1, 2020, stock market sources said.
Business
CIF, the world’s favorite multi-surface cleaning brand, arrives in Sri Lanka
CIF, the globally recognized multi-surface cleaning brand, has officially entered the Sri Lankan market, expanding the range of international home-care solutions available to local consumers.
CIF products are now available at Cargills, Keells, Glomark and Celeste, as well as online through Daraz and uStore, at a retail price of Rs. 900 for 500ml. Shop CIF online at https://ustore.lk/collections/cif
Used by households around the world, CIF is known for its powerful cleaning performance and ability to tackle everyday dirt and some of the toughest cleaning challenges around the home.
Its introduction to Sri Lanka comes as consumers increasingly seek cleaning products that combine performance, convenience and versatility, particularly solutions that can be used across multiple areas and surfaces within the home.
One cleaner. So many possibilities.
From stubborn kitchen grease and grime to limescale around sinks and dirt that builds up on frequently used surfaces, CIF is designed to provide powerful cleaning performance while helping make every day cleaning simpler.
The brand’s multi-surface proposition allows consumers to address a range of household cleaning needs with one versatile solution, bringing greater convenience to modern cleaning routines.
CIF’s entry into Sri Lanka also brings the brand’s global philosophy closer to local consumers eventually helping people restore and rediscover the beauty of the places and things around them through effective everyday cleaning.
With its combination of global recognition, multi-surface versatility and powerful cleaning performance, CIF’s arrival provides Sri Lankan consumers with a new international option in the household cleaning category.
The world’s favorite multi-surface cleaning brand is finally here in Sri Lanka.
Just CIF it!
Business
A sustained wave of Indian assistance to Sri Lanka showcases defining shift in developmental diplomacy
By Sanath Nanayakkare
An evolving approach to regional diplomacy was brought into sharp focus with the recent foundation-laying ceremony for the Moragahakanda Bridge in Matale.
Jointly launched by Indian High Commissioner Santosh Jha and Minister of Transport, Highways and Urban Development Bimal Rathnayake, this 175-metre span is far more than a routine civil engineering project. It serves as the physical manifestation of a broader USD 450 million reconstruction package deployed by India in the wake of Cyclone Ditwah, which severely fractured the island’s transport arteries.
Foreign aid is too often discussed in cold, macroeconomic abstractions. Yet, every so often, a consistent pattern of targeted assistance alters the landscape of bilateral relations, offering a clear window into how regional partnerships evolve out of necessity and goodwill.
Across the country today, a remarkable narrative of multi-layered cooperation is unfolding.
From critical post-disaster infrastructure and maritime routes to grassroots agricultural uplift and institutional capacity-building, India’s developmental footprint is shifting unmistakably toward an organic, people-centric model of shared resilience.
What distinguishes this latest wave of assistance is its deliberate pivot from emergency support to permanent, climate-resilient transformation. When Cyclone Ditwah initially paralysed regional connectivity, India’s immediate response was marked by the rapid deployment of temporary Bailey bridges.
Today, that swift humanitarian intervention has matured into a structural blueprint: the Moragahakanda project stands as the vanguard of 13 permanent bridges being built across Sri Lanka’s provinces by IRCON International Limited, complemented by upcoming railway upgrades and modern signaling systems backed by a USD 250 million Line of Credit.
The true signature of this diplomatic shift lies in its breadth, operating simultaneously across multiple tiers of society:
Institutional Governance: Delegations of Sri Lankan parliamentarians and senior administrative officers regularly travel to India to study public policy frameworks, legislative systems, and administrative practices.
Economic Lifelines: Financial mechanisms, such as viability gap funding for the Nagapattinam-to-Kankesanthurai passenger ferry service, continue to shrink geographical distances, reviving coastal commerce and tourism.
Grassroots Empowerment: Specialised capacity-building programmes tailored for local stakeholders – ranging from state officials to rural dairy farmers -ensure that development reaches deep into the island’s hinterlands.
By aligning immediate disaster relief with long-term infrastructure, institutional capacity, and human capital, India and Sri Lanka are demonstrating how neighbours can build safer, more connected futures together, grounded firmly in mutual respect and tangible progress.
Business
Bring your own bag to book fair, CEA urges
By Ifham Nizam
The Central Environmental Authority (CEA) yesterday urged visitors to the Colombo International Book Fair to bring reusable bags to carry their purchases, as part of a drive to reduce single-use plastic waste at the event.
CEA Director General R. S. P. Kapila Rajapaksha said large quantities of plastic, particularly “sili sili” bags, had been used to carry books at previous book fairs.
“We urge visitors to bring an environmentally friendly, reusable bag when they come to buy books. This simple step can help reduce the use of single-use plastic and protect the environment,” Rajapaksha said.
The book fair opens on September 25, with the CEA and the Sri Lanka Book Publishers’ Association launching an awareness programme targeting book sellers, food vendors and visitors.
The programme will be conducted under the theme “Read Smart, Carry Smart”, focusing on reducing polythene and plastic use throughout the exhibition.
The CEA said the use of plastic bags is also subject to regulations issued under the Consumer Affairs Authority Act. Gazette Extraordinary No. 2456/41, dated October 1, 2025, prohibits the free distribution of handled “sili sili” bags to consumers. Where such bags are sold, the charge must be included in the customer’s bill.
The CEA said food outlets at the book fair would also be required to comply with regulations prohibiting a range of single-use plastic products.
These include plastic straws and stirrers, disposable plastic plates, cups, spoons, forks and knives, as well as polythene-based food wrappers commonly known as lunch sheets.
The CEA said it had discussed the requirements with relevant stakeholders and reached agreement to ensure that prohibited products are not used at food outlets within the exhibition premises.
The authority urged both traders and visitors to cooperate with the initiative and help make this year’s book fair a more environmentally responsible event.
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