Business
CSE slips for third straight session though turnover hits Rs. 6 billion
By Hiran H.Senewiratne
The CSE fell in mid-morning trade after opening in the green yesterday, slipping for the third straight session, despite touching a high turnover level of more than Rs 6 billion. However, in the last few days net foreign inflow recorded Rs 10.2 billion, with SG Holdings, being the main shareholding company of Expolanka Holdings, reportedly purchasing more shares yesterday, stock market analysts said.
Amid those developments, both indices moved downwards. The All- Share Price Index declined by 124.27 points (1.24 per cent) to end the day at 9.901.13 points and the S and P SL20 declined by 12.52 points (0.39 per cent) to end the day at 3205.22 points, Turnover stood at 6.05 billion with two crossings. Those crossings were reported in Expolanka Holdings, which crossed ten million shares to the tune of Rs 2.3 billion, its shares traded at Rs 228 and Cargills Ceylon Ltd. 241,000 shares crossed to the tune of Rs 54.2 million, its shares traded at Rs 225.
In the retail market top seven companies that mainly contributed to the turnover were, Lanka IOC Rs 771 million (2.7 million shares traded), Expolanka Holdings Rs 485 million (2.1 million shares traded), CIC Holdings Rs 155 million (1.7 million shares traded), Lankem Development Rs 149 million (4.2 million shares traded), First Capital Treasuries Rs 149 million (7.7 million shares traded), ACL Cables Rs 144 million (1.4 million shares traded) and JKH Rs 139 million (970,000 shares traded). During the day 124 million share volumes changed hands in 34000 share transactions.
Yesterday, profit- takings were noted in manufacturing and banking sector counters. High buying interest was witnessed in Lanka- IOC, whose share price gained by Rs 11.20 or 4.2 per cent. Its share price shot up to Rs 279.79 from Rs 268.50. The major sectors that had contributed to the turnover were the Transport sector, which contributed Rs 2.7 billion, Energy sector Rs 772 million (Lanka IOC is the main contributor) and the Capital Goods sector Rs 679 million.
Yesterday the Central Bank-announced US dollar spot buying rate was Rs 369.33. The Central Bank’s prudential monetary policies stabilized the rupee against the dollar to a greater extent, financial sources said.
Business
Sri Lanka eyes India grid link as ADB pushes Pan-Asia energy integration
Sri Lanka’s long-discussed electricity grid connection with India is gaining renewed momentum, as the Asian Development Bank (ADB) intensifies efforts to promote cross-border energy integration across the region.
At the ADB Annual Meetings in Samarkand, Senior Director for Energy, Priyantha Wijayatunga, identified the proposed India–Sri Lanka grid interconnection as the most promising avenue to strengthen the island’s power sector. The concept dates back to the 1970s, when Sri Lanka, following the completion of the Mahaweli Development Project, even explored the possibility of exporting electricity. However, rapid economic growth and rising domestic demand shifted the country toward energy imports.
Today, with energy security and cost pressures mounting, the idea has regained urgency. “The time is right,” Wijayatunga said, stressing that political will and financing will be decisive. While undersea transmission cables make the link technically viable, costs remain a major challenge. The ADB, he confirmed, stands ready to support Sri Lanka as a development partner in advancing the project.
Sri Lanka’s prospects are closely tied to a broader regional vision being advanced by the ADB through its Pan-Asia Power Grid Initiative (PAGI). The initiative aims to transform how energy is produced, shared, and consumed across Asia and the Pacific by promoting cross-border electricity trade and grid connectivity.
PAGI is designed not merely as a collection of projects, but as a systems-level integration platform that connects national grids into subregional and eventually continent-wide networks. Its core objectives include bridging energy gaps, enhancing energy security, integrating large-scale renewable energy, and strengthening resilience across interconnected systems.
A key pillar of PAGI is leveraging the region’s resource complementarity. Countries in South Asia, for instance, possess uneven but highly complementary energy resources—hydropower in Nepal and Bhutan, and solar and wind potential in India. By linking grids, countries like Sri Lanka could tap into these diverse energy sources, reducing dependence on costly fossil fuel imports while improving reliability.
ADB estimates suggest that deeper regional power trade in South Asia could yield substantial economic benefits, including lower system costs and more efficient energy distribution. The initiative also envisions mobilizing up to $50 billion in investments by 2035, expanding transmission infrastructure, and improving electricity access for millions.
For Sri Lanka, integration into such a regional grid could be transformative. A connection with India would allow the country to import affordable electricity during shortages, stabilize supply, and support its transition toward cleaner energy. It could also open the door to future participation in a wider South Asian power market.
With feasibility studies and policy discussions already underway, and with ADB backing firmly in place, Sri Lanka’s long-envisioned grid connection with India now appears more achievable than ever.
As the Samarkand meetings underscore the urgency of regional cooperation in an increasingly uncertain energy landscape, Sri Lanka stands at the threshold of a new chapter—one where energy security is strengthened not in isolation, but through connection.
by Sanath Nanayakkare in Samarkand, Uzbekistan
Business
Oceans in crisis: Sri Lanka hosts ‘Sharks International 2026’ amid stark warnings
Sri Lanka this week finds itself at the centre of a deepening global ocean crisis, as leading scientists, policymakers and conservationists gather in Colombo for Sharks International 2026—a high-profile summit unfolding against mounting evidence that the world is rapidly losing control of its marine ecosystems.
The conference, now underway at the Bandaranaike Memorial International Conference Hall, marks the first time the prestigious forum has been hosted in Sri Lanka. But beneath the diplomatic language and scientific exchanges lies a far more urgent reality: the collapse of shark and ray populations is no longer a distant environmental concern—it is an unfolding economic and food security emergency.
More than 100 million sharks and rays are being wiped out globally each year, largely due to overfishing and illegal, unreported and unregulated (IUU) fishing. In Sri Lanka, the situation is particularly acute. Of the 105 species recorded in local waters, nearly 70 are now threatened with extinction, a statistic that scientists warn should set off alarm bells far beyond conservation circles.
Deputy Minister of Environment Anton Jayakody did not mince words when addressing the gathering, framing the issue not just as an ecological tragedy but as a looming economic shock.
“This is not just about saving species. It is about protecting the foundation of our fisheries, our food systems, and the livelihoods of thousands of Sri Lankans. If shark and ray populations collapse, the consequences will ripple through the entire marine economy,” he said.
Sharks and rays sit at the top of the ocean food chain. Their disappearance disrupts the delicate balance of marine ecosystems, triggering cascading effects that can decimate commercially valuable fish stocks. For a country like Sri Lanka—where coastal communities depend heavily on fisheries—this is not an abstract threat but a direct challenge to economic stability.
Yet despite years of warnings, critics argue that global action has been dangerously slow, fragmented, and often undermined by competing commercial interests.
By Ifham Nizam
Business
SriLankan Airlines leads with two category wins in South Asia at PAX Awards
SriLankan Airlines led with two wins in the Airline Award category for South Asia, securing both Best Overall Passenger Experience and Most Improved Airline at the PAX International Readership Awards 2026 held recently in Hamburg, Germany. The awards celebrate the industry’s best and brightest, with winners determined by votes from PAX’s global readership.
The Best Overall Passenger Experience – South Asia award recognises an airline that delivers an exceptional onboard experience to passengers across multiple service areas, including meal service, inflight entertainment and seating. At SriLankan Airlines, this entails meticulous planning at every stage of the passenger journey, supported by collaboration among multiple teams and continuous monitoring and refinement.
Maria Sathasivam, Manager Product Development of SriLankan Airlines, commented on the achievement, stating, “we are incredibly honoured to receive yet another independent endorsement of the service we deliver. Every interaction matters to us, and we are committed to consistently meeting and exceeding passenger expectations, and it is truly rewarding to see these efforts recognised.”
SriLankan Airlines continues to enhance the end-to-end travel experience, from booking through to arrival. Ongoing digital upgrades, including improvements to the airline’s website and app, are designed to deliver a more intuitive and seamless customer experience, supported by AI-driven features and expanded ancillary offerings. At its hub, the Bandaranaike International Airport in Colombo, the airline has also expanded self-check-in and bag drop facilities for added convenience.
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