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Global stock markets decline by 5.2 per cent in 2022 third quarter

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By Hiran H.Senewiratne

The MSCI World Stock Market Index reports that in the third quarter of this year ending September, Europe, Asian and US asset markets, namely commodity and equity markets, dropped notably. The Index further reveals that global stock markets declined by 5.2 per cent in the third quarter of this year, stock analysts said.

The MSCI World Index is a broad global equity index that represents large and mid-cap equity performance across all 23 developed markets. It covers approximately 85 per cent of the free float-adjusted market capitalization in each country.Apart from stock markets, gold prices indicated an 8.3 per cent drop. The US dollar rate appreciated in the third quarter of this year, market analysts said.

Yesterday the CSE was sluggish due to month- end, weekend and quarter- end taking of profits from the CSE. Both CSE indices moved downwards. The All- Share Price Index went down by 20.4 points and S and P SL20 declined by 6.8 points. Turnover stood at Rs 2.5 billion with eight crossings.

Those crossings were reported in Commercial Bank, where 1.1 million shares crossed to the tune of Rs 10.2 million, its shares traded at Rs 55, LOLC Finance 11.9 million shares crossed for Rs 100 million and its shares traded at Rs 8.40, JKH 600,000 shares crossed to the tune of Rs 82.8 million, its shares fetched Rs 138, Hunas Falls 900,000 shares crossed to the tune of Rs 36 million, its shares traded at Rs 40, Lanka IOC 120,000 shares crossed to the tune of Rs 34.6 million, its shares traded at Rs 288, Agstar PLC 1.8 million shares crossed to the tune of Rs 39.7 million and its shares fetched Rs 16.50, CIC Holdings (Non- Voting) 400,000 shares crossed to the tune of Rs 28 million, its shares were sold at Rs 70 and CIC (Voting) 250,000 shares crossed to the tune of Rs 21,2 million shares; its shares fetched Rs 85.

In the retail market top seven companies that mainly contributed to the turnover were, Lanka IOC Rs 225 million (785,000 shares traded), Expolanka Holdings Rs 173 million (800,000 shares traded), CIC Holdings (Voting) Rs 153 million (1.7 million shares traded), CIC Holdings (Non- Voting) Rs 118 million (1.7 million shares traded), LOLC Finance Rs 82.3 million (9.3 million shares traded), Lanka Wall Tiles Rs 72.4 million (862,000 shares traded) and ACL Cables Rs 66.8 million ( 582,000 shares traded). During the day 99.4 million share volumes changed hands in 25000 transactions.

Aberdeen Holdings, a diversified conglomerate based in Sri Lanka, sold 5 per cent of its stake in Expack Corrugated Cartons for Rs. 282.5 million with a total of 16.6 million shares changing hands via 118 trades. Prices ranged from Rs. 17 to Rs. 17.60 per share. In total 21.2 million shares changed hands via 978 trades for Rs. 363 million.

The sale of Expack shares comes in the form of a strategic rebalancing of the investment portfolio of Aberdeen Holdings. Yesterday the Central Bank- announced US dollar buying rate was Rs 359.16 and the selling rate Rs 369.91. The rupee rate has become stable against the US dollar due to the Central Bank’s prudential economic policies, financial sources said.



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USA–Sri Lanka Chamber of Commerce plans New York campaign to promote Tourism and Business

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The initiative will provide Sri Lankan businesses with a vital platform to introduce their products and services to the American market

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.

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Seylan Bank partners Colombo Motor Show 2026 as official banking and leasing partner

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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.

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WCIC sharpens focus on scaling women-owned businesses

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WCIC Office Bearers

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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