Business
CSE seen as being controlled by a few people; ‘not a proper platform to list SOEs’
By Hiran H.Senewiratne
The CSE is not a proper platform to list state owned enterprises because it’s being controlled and dominated by a few people or small groups of them. It cannot be a match for leading stock markets like the London Stock Market because it doesn’t reflect a broader perspective, President Ranil Wickremesinghe said.
“Either you must change or bring into being a new organization to broad base the stakeholder participation level without allowing a small set of people to control it, Wickremesinghe told an economic forum which was organized by the Advocata Institute and held at the BMICH yesterday.
The President added: “As a small country we have to be highly competitive and need to restructure state owned enterprises either by listing in the CSE or by private-public participation of SOEs. Therefore, the need of the hour is to change the CSE’s current system or set up a new organization to increase the wage level among people of the country.”
Meanwhile, the CSE was extremely bullish yesterday and was characterized by profit- takings. It is said that blue chips became the center of attraction among local and foreign investors driven by Lanka IOC, which attracted fresh buying interest due to high profit achievements, stock market analysts said.
Further, both indices moved upwards. The All- Share Price Index went up by 104.2 points and S and P SL20 rose by 43.6 points. Turnover stood at Rs 3.7 billion with one crossing. The crossing was reported in Melstacorp, which crossed 2.9 million shares to the tune of Rs 129.4 million; its shares traded at Rs 43.60.
In the retail market, seven companies that mainly contributed to the turnover were; Lanka IOC Rs 1.16 billion (ten million shares traded), Expolanka Holdings Rs 588 million (2.8 million shares traded), JKH Rs 217 million (1.8 million shares traded), Hayleys Rs 153 million (1.6 million shares traded), Browns Investments Rs 141 million (18 million shares traded), Melstacorp Rs 138 million (3.1 million shares traded) and LOLC Holdings Rs 128 million (251,000 shares traded). During the day 101.9 million share volumes changed hands in 30000 share transactions.
It is said high net worth and institutional investor participation was noted in Melstacorp, JKH and CIC Holdings. Mixed interest was observed in Expolanka Holdings, Lanka IOC and ACL Cables, while retail interest was noted in LOLC Finance, Browns Investments and Softlogic Capital. Lanka IOC and LOLC Finance were also included amongst the top turnover contributors.
Transportation sector was the second largest contributor to the market turnover (due to Expolanka Holdings) while the sector index gained 8.84 per cent.The share price of Expolanka Holdings increased by Rs 17 (8.84 per cent ) to close at Rs 209.25.
Food, Beverage and Tobacco sector was also among the highest contributors to the market turnover (due to Melstacorp and Browns Investments) while the sector index edged down by 0.11 per cent.
Further, global crude oil prices are now going down considerably. Today the Brent crude oil price is US $ 94 per barrel, while the West Texas Intermediary (WTI) rate is US $ 89. Therefore, the oil price decrease will positively impact the Sri Lanka economy, market analysts said.
Business
HNB Assurance Recognized with Merit Award at the Great HR Awards 2025
HNB Assurance PLC was recognized at the Great HR Awards 2025, receiving the Merit Award in the Finance, Insurance, Real Estate, and Investment sector. This recognition reflects the company’s continued commitment to strengthening its people strategy, nurturing a progressive culture, leveraging technology and maintaining strong industrial relations.
Sharing his thoughts on this accomplishment, Lasitha Wimalarathne, Executive Director / Chief Executive Officer of HNB Assurance PLC, stated, “This recognition reiterates our belief that people are the true drivers of our success. Over the years, we have invested significantly in building an environment where our teams feel inspired and supported to deliver their best. As we continue to grow as one of Sri Lanka’s best insurance companies, this award reflects our ongoing efforts to build a workplace where both our people and our business can thrive. My sincere thanks go out to our HR team for continuously driving these initiatives.”
Commenting on the award, Navin Rupasinghe, Head of HR / DGM at HNB Assurance PLC, said, “Our people-first philosophy shapes every HR initiative we design, from strengthening learning pathways and leadership development to enhancing employee well-being and engagement. This recognition validates our ongoing efforts to build a workplace culture grounded in trust, inclusivity and performance. As we look ahead, we remain committed to evolving our HR practices to meet the expectations of our people and the future of work. My sincere thanks to the CIPM for this recignition.”
Business
MullenLowe Sri Lanka named Creative Agency of the Year in South Asia
MullenLowe Sri Lanka has been awarded Gold as the Rest of South Asia’s Creative Agency of the Year at the Campaign Agency of the Year Awards 2025, held recently at Mumbai’s ITC Maratha Hotel. The accolade marks a landmark year for the agency, driven by breakthrough ideas, ambitious brands, and a surge in economic activity.

Campaign Agency of the Year – South Asia 2025 (Rest of South Asia – Creative Agency) awarded to MullenLowe Sri Lanka
Guided by a clear creative vision and extensive category expertise across 111 brands in 33 sectors, MullenLowe strengthened its position through strategic leadership appointments, talent acquisition, and the integration of AI-enabled tools. These initiatives created an environment where creativity, learning, and commercial impact worked in tandem, supporting long-standing client relationships and consistent new business momentum.
Thayalan Bartlett, Executive Chairman, said, “Our growth is rooted in a people-first, creative-centred culture. By attracting top talent and focusing on continuous upskilling, we have enriched both our creative and strategic capabilities.”
The agency’s innovation was further enhanced by Fever, its AI-enabled production studio, and LoweGo, a subscription-based design unit, enabling faster and more scalable solutions for modern marketers. Training programs, including an international AI workshop in Baku for top creative minds, helped unify teams around technology-driven creativity, leading to MullenLowe’s highest Effie points haul in a decade.
Harendra Uyanage, Senior Vice President and Executive Creative Director, added, “This recognition celebrates a team that constantly stretches its creative boundaries, transforming every brief into opportunity.”
The win adds to a series of recent accolades, including Most Effective Agency of the Year at the 2024 Effie Awards, and multiple awards at Dragons of Sri Lanka and SLIM Digis 2025, cementing MullenLowe’s vision to become Sri Lanka’s most commercially impactful creative company by 2030.
Business
ComBank named Sri Lanka’s Best Trade Finance Bank at Euromoney Awards 2025
The Commercial Bank of Ceylon PLC was named Sri Lanka’s Best Trade Finance Bank at the prestigious Euromoney Transaction Banking Awards 2025, in recognition of the Bank’s strong performance and continued contribution to supporting Sri Lanka’s export and import sectors.
This global recognition from Euromoney, a leading authority in financial markets, celebrates institutions that demonstrate innovation, leadership, and measurable impact in transaction banking across cash management, payments, trade finance, and technology. Commercial Bank is Sri Lanka’s clear market leader in trade finance, commanding a 21% share in exports and a 14.26% share in imports, demonstrating its strong presence across both segments.
In 2024, the Bank supported over US$ 5 billion in trade transactions, underscoring its unmatched role in enabling the flow of goods, services, and foreign exchange. Its leadership has also been recognised regionally by the Asian Development Bank (ADB), which named Commercial Bank its Leading Partner Bank in Sri Lanka for the fourth consecutive year under the Trade and Supply Chain Finance Programme.
At the forefront of Commercial Bank’s recent innovations is ComBank TradeLink, Sri Lanka’s first fully integrated, end-to-end digital trade finance platform. The system brings all trade finance operations – from Letters of Credit to export collections and shipping guarantees – into one secure online interface, providing customers real-time visibility, faster processing, and paperless convenience. This digitalisation drive has redefined the client experience, reduced manual processes and improved turnaround times across thousands of transactions.
The Bank’s commitment to advancing Sri Lanka’s trade sector extends beyond technology. Through initiatives such as the ComBank Trade Club, which facilitates connections between buyers and suppliers both locally and internationally, and ComBank LEAP | GlobalLinker, a digital business networking platform for SMEs, the Bank is actively building bridges between Sri Lankan entrepreneurs and global markets. Its Diribala Exporter Development Programme further empowers micro, small, and medium enterprises to become export-ready, providing access to expert guidance, training, and financial support.
Reflecting on the award, Commercial Bank said the recognition from Euromoney was a tribute to the trust placed in the Bank by Sri Lanka’s exporters and importers, and to the dedication of its trade finance teams who continue to innovate and deliver excellence in a rapidly evolving global landscape.
As Sri Lanka’s largest private sector bank and the first to surpass US$ 1 billion in market capitalisation, Commercial Bank continues to lead in supporting national trade, driving digital transformation, and shaping a more inclusive and resilient export economy, the Bank said.
Commercial Bank was the first bank in the country to be listed among the Top 1000 Banks of the World, and has the highest Tier I capital base among all Sri Lankan banks. The Bank is the largest private sector lender in Sri Lanka and the largest lender to the country’s SME sector. Commercial Bank is also a leader in digital innovation and is Sri Lanka’s first 100% carbon-neutral bank.
Commercial Bank operates a network of strategically located branches and automated machines island-wide, and has the widest international footprint among Sri Lankan banks, with 20 branches in Bangladesh, a fully-fledged Tier I Bank with a majority stake in the Maldives, a microfinance company in Myanmar, and a representative office in the Dubai International Financial Centre (DIFC). The Bank’s fully owned subsidiaries, CBC Finance Ltd. and Commercial Insurance Brokers (Pvt) Limited, also deliver a range of financial services via their own branch networks.
-
Features5 days agoFinally, Mahinda Yapa sets the record straight
-
News7 days agoOver 35,000 drug offenders nabbed in 36 days
-
News6 days agoCyclone Ditwah leaves Sri Lanka’s biodiversity in ruins: Top scientist warns of unseen ecological disaster
-
News7 days agoRising water level in Malwathu Oya triggers alert in Thanthirimale
-
Features5 days agoHandunnetti and Colonial Shackles of English in Sri Lanka
-
Business3 days agoCabinet approves establishment of two 50 MW wind power stations in Mullikulum, Mannar region
-
Business7 days agoSri Lanka betting its tourism future on cold, hard numbers
-
News6 days agoJetstar to launch Australia’s only low-cost direct flights to Sri Lanka, with fares from just $315^
