Business
CSE bounces back in the wake of Inland Revenue Act changes
By Hiran H.Senewiratne
The CSE edged down in mid-morning trade yesterday after opening over 1 per cent lower. Subsequently the market began to bounce back with the gazetting of the Inland Revenue Act, after three consecutive days of market decline, stock market analysts said.
Key changes in the Inland Revenue Act include reducing the tax-free threshold for personal income tax to Rs 1.2 million from Rs. 3.0 million and the raising the corporate tax to 30 percent from 24 percent. Capital gains tax for companies is expected to be raised from 10 percent to 30 percent for investment assets.
The stock market sharp plunge in indices reaffirmed worsening local investor sentiment though foreigners stepped up their buying especially in JKH, propelling the year-to-date inflow to over Rs. 16 billion, stock market analysts said.
Amid those developments buying interest was noted in Lanka IOC, Expolanka. ACL Cables and several other blue chip counters thus moving the bourse to red territory, stock market analysts said. The All- Share Price Index gained 108.66 points (1.24 per cent) to end the day at 8853.27 and S and P SL20 gained 34.82 points (1.31 per cent) to end the day at 2687.81. Turnover stood at Rs 2.3 billion without a crossing.
In the retail market top seven companies that mainly contributed to the turnover were, Lanka IOC Rs 550 million (2.6 million share traded), Expolanka Holdings Rs 379 million (2.5 million shares traded), ACL Cables Rs 194 million (2.2 million shares traded), Browns Investments Rs 69.7 million (11.5 million shares traded), JKH Rs 69.1 million (538,000 shares traded), JKH Rs 69.1 million (538,000 shares traded), CIC Holdings Rs 59.5 million (566,000 shares traded) and Royal Ceramic Rs 45.3 million (1.3 million shares traded). During the day 66.5 million share volumes changed hands in 28000 transactions.
It is said that high net worth and institutional investor participation was noted in JKH, ACL Cables and CIC Holdings. Mixed interest was observed in Expolanka Holdings, Lanka IOC and CIC Holdings, while retail interest was noted in Browns Investments, SMB Leasing (voting and nonvoting) and LOLC Finance.
The Capital Goods sector was the top contributor to the market turnover (due to JKH and ACL Cables), while the sector index lost 3.50 per cent. The share price of JKH decreased by 50 cents to close at Rs. 128.50.
Transportation sector was the second highest contributor to the market turnover (due to Expolanka Holdings) while the sector index decreased by 11.96 per cent. The share price of Expolanka Holdings lost Rs. 19.75 (11.99 per cent) to close at Rs. 145.
Lanka IOC and CIC Holdings nonvoting were also included among the top turnover contributors. The share price of Lanka IOC moved down by Rs. 15.25 (6.71 per cent) to close at Rs. 212.
Yesterday, the Central Bank- announced US dollar buying rate was Rs 359.66 and selling rate Rs 370.39.
Business
DIMO KNIGHTS 2026 Reinforces a Culture of Recognition and Growth
DIMO celebrated DIMO KNIGHTS 2026, recognizing employees whose exceptional dedication, leadership, innovation, and commitment continue to shape the organization’s success. More than an employee recognition event, DIMO KNIGHTS reflects DIMO’s unwavering commitment to cultivating a workplace where people are empowered to thrive, reinforcing the Employee Value Proposition of ‘Making Work Enjoyable and Rewarding’ while bringing its Corporate Purpose of Fuelling Dreams and Aspirations to life.
Held under the theme “Illuminating Leadership, Inspiring Achievement,” the event celebrated individuals who exemplify DIMO’s values and inspire excellence across the organization. By recognizing those who consistently go above and beyond, DIMO continues to foster a high-performance culture where people are empowered to innovate, lead, and create meaningful impact.
A highlight of the evening was the keynote address delivered by Mr. Ravi Kant, former Managing Director and Vice Chairman of Tata Motors India, who shared valuable insights on leadership, organizational transformation, and building resilient organizations capable of sustaining long-term success.
Commenting on the event, Ms. Dilrukshi Kurukulasuriya, Executive Director / Chief Human Resources Officer of DIMO, said: “Our Tribe is the driving force behind DIMO’s continued success. DIMO KNIGHTS is more than a celebration of outstanding performance; it is a reflection of the culture we strive to build every day. By recognizing and empowering our people, we reinforce our Employee Value Proposition of ‘Making Work Enjoyable and Rewarding’ while bringing our Corporate Purpose to life. When our people grow, innovate, and thrive, they create lasting value for our customers, partners, and the communities we serve.”
DIMO KNIGHTS reinforces the organization’s people-first philosophy by fostering a culture of appreciation, continuous learning, and purposeful leadership. The programme reflects DIMO’s conviction that when employees are empowered, recognized, and inspired to excel, they shape the future of the organization through innovation, collaboration, and sustained excellence, strengthening a high-performing culture that delivers lasting value, drives sustainable business success, and reinforces DIMO’s position as an employer of choice.
The evening recognized employees across a wide range of categories, celebrating outstanding performance, innovation, collaboration, customer focus, and leadership. The ceremony culminated with the presentation of the prestigious Innovator of the Year and Employee of the Year awards, with the Employee of the Year accolade presented to Mr. Chathura Gunasekera.
As DIMO continues to invest in developing exceptional talent, initiatives such as DIMO KNIGHTS reaffirm the organization’s belief that sustainable business success begins with its people. By creating an environment where individuals are recognized, empowered, and inspired to achieve their full potential, DIMO continues to cultivate a purpose-driven, high-performing workforce that is equipped to shape the future of the organization while delivering lasting value to all stakeholders.
Business
Sri Lanka’s lifestyle coffee culture boom and the two faces of its economy
By Sanath Nanayakkare
On Baseline Road in Colombo, Barista Coffee recently opened its 100th outlet. For a modern café culture spreading across shopping centers, office districts, and provincial towns, this milestone is a major commercial success. It shows a thriving urban service sector and a growing class of lifestyle consumers who use coffee shops as places to work, socialise, and meet.
This is a curious new picture emerging from Sri Lanka’s post-crisis economic recovery: the coffee cup is getting bigger, even as the household tea cup tells a very different story.
Yet, looking past the espresso machines, a different reality unfolds in the country’s kitchens.
International financial institutions note that while Sri Lanka’s macro-economy is recovering, household welfare and employment remain below pre-crisis levels. Poverty rates sit at roughly double what they were in 2019, and food prices doubled over a three-year span, forcing families to cut back on essentials.
This creates a striking local paradox, especially given Sri Lanka’s proud heritage as a global tea producer. While the world pays top dollar for Ceylon Tea, local market studies and industry reports have long pointed out an unfortunate disparity: many ordinary families find high-quality tea too expensive, often settling for lower-grade alternatives at home.
The growth of a 100-outlet coffee network does not mean prosperity has spread evenly across the island. Instead, it proves that there is a specific, well-resourced segment of consumers with the purchasing power to sustain a premium lifestyle economy, even as many other households carefully calculate the cost of everyday groceries.
Barista’s 100th store is not a bad-news story; it is a testament to acute entrepreneurial grit, shifting consumer behavior, and the vital revival of the nation’s urban service sectors. But it serves as an uncompromising reminder that macroeconomic stabilisation is not synonymous with household recovery.
As Colombo’s coffee culture looks toward its next hundred outlets, the true pulse of the nation’s economic health will not be measured by the espresso machines humming in sleek urban hubs, but by the quiet arithmetic happening in millions of kitchens beyond its doors – where the fundamental question remains whether a family can comfortably afford a better cup of Ceylon Tea.
Business
Aitken Spence Hotel Holdings Rs. 5 billion debenture issue oversubscribed on opening day
Aitken Spence Hotel Holdings PLC announced that its maiden listed, rated, unsecured, senior
redeemable debenture issue was oversubscribed on its opening day, 15th September 2026.
The Company sought to raise Rs. 3 billion through an initial issuance of 30 million debentures at Rs.
100 each, with an option to issue a further 20 million debentures in the event of oversubscription of the initial issue, increasing the total issue size to Rs. 5 billion.
The Company said it had received applications for more than 50 million debentures, the full amount on offer, prompting the issue to close at 4:30 p.m. on the opening day (15).
The basis of allotment will be announced to the Colombo Stock Exchange as per regulatory requirements in due course.
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