Business
CSE indices fall to eight-week low; turnover slumps
By Hiran H.Senewiratne
Both CSE indices fell to an eight-week low yesterday while the day’s turnover also slumped to the lowest since the last week of August amid highly volatile market sentiments as economic uncertainties over new tax hikes dented the appetite for risky assets, market analysts said.The market saw a turnover of Rs 1.3 billion, its lowest since August 29, and lower than this year’s average turnover of Rs 3.2 billion. Further, both indices moved downwards. The All- Share Price Index went down by 51.8 points and S and P SL20 declined by 7.7 points.
Turnover stood at Rs 1.3 billion with two crossings. Those crossings were reported in JKH, which crossed 500,000 shares to the tune of Rs 64.8 million, its shares traded at Rs 129.50 and CIC Holdings 300,000 shares crossed to the tune of Rs 30.9 million and its shares fetched Rs 103.
In the retail market top seven companies that mainly contributed to the turnover were; Lanka IOC Rs 341 million (1.7 million shares traded), CIC Holdings Rs 96.1 million (949,000 shares traded), Expolanka Holdings Rs 94.3 million (631,000 shares traded), JKH Rs 75 million (580,000 shares traded), CIC Holdings (non-voting) Rs 73.9 million (one million shares traded), Agsta PLC Rs 45.7 million (2.3 million shares traded) and Lankem Development Rs 42.9 million (1.2 million shares traded). During the day 527 million share volumes changed hands in 15000 share transactions.
According to stock market analysts the market moved to red yet again on the back of heavy selling of retail favourites LIOC and Expolanka, its daily note, referring to Sri Lanka private fuel retailer, Lanka IOC and market heavyweight Expolanka. Profit booking in LIOC intensified as investors expected further price reductions in fuel as the country intents to procure oil from Russia at a possibly lower price.
Analysts also said the market is going through a volatile trend as some investors are on a wait-and-see approach, while others are booking profits. Foreign investors have been mainly on the buying side since the IMF signaled positive for a US $2.9 billion; 4-year deal provided Sri Lanka fulfills some challenging conditions, including tax hikes.Yesterday the Central Bank- announced US dollar buying rate was Rs 360.73 and the selling rate Rs 371.24.
Business
Advocata Institute highlights regulatory barrier limiting women’s overtime earnings
Advocata Institute says that, a regulatory barrier prevents Sri Lankan women achieving pay parity with their male counterparts despite recent legislative amendments that have opened doors for women to work night shifts.
Despite the 2024 and 2026 liberalizations of the Shop and Office Employees Act (SOEA), which allowed women over 18 to work night shifts in IT, BPO, and hospitality sectors, women remain legally barred from maximizing their income due to rigid overtime restrictions.
Under current regulations, women cannot be employed under the Shop and Office Act for more than nine hours per day, a limit that strictly includes overtime. While Regulation 6 of the Act permits up to twelve hours of overtime per week, this daily “hard cap” creates a practical barrier that prevents women from accessing the full overtime entitlement available to male workers. This creates a regulatory paradox: while the law now permits women to work at night, it simultaneously restricts them from working the hours necessary to take home the same pay as a man performing the same role.
The urgency for reform is underscored by the Sri Lanka Labour Force Survey for the third quarter of 2025, which reveals a significant participation gap. Female labour force participation stands at 33.9 percent, compared to 68.6 percent for men. Closing this gap is a key structural reform priority under Sri Lanka’s International Monetary Fund Extended Fund Facility (EFF) programme, which highlights the importance of modernizing labour laws to expand labour supply and support long-term economic growth.
Debates on reforming these restrictions are often framed around the concern that removing gender-specific protections could expose women to exploitation. However, a woman’s vulnerability in the labour market is shaped less by the absence of gender-specific laws and more by structural challenges such as inadequate public transport, poor workplace infrastructure, weak enforcement of law and order, and limited access to childcare.
Addressing these underlying barriers is critical to ensuring both protection and opportunity. True empowerment requires shifting the focus from paternalistic hour-caps to creating a safe, gender-neutral environment that allows women the agency to maximize their earnings and contribute fully to the national economy.
Business
Drifting lubricant barrels trigger oil spill on southern coast; 99% of clean-up completed
Authorities have traced the oil contamination reported along sections of the Hikkaduwa and Peraliya coastlines in the Galle District to drifting barrels of industrial lubricant, while rapid response teams have already removed almost all visible oil deposits from the affected beaches.
The Marine Environment Protection Authority (MEPA), together with the Sri Lanka Coast Guard, launched an immediate response after oil patches were detected along about a 20-metre stretch of coastline in the Hikkaduwa and Peraliya areas.
Addressing a media briefing at the Ministry of Environment, MEPA Chairman Samantha Gunasekara said emergency shoreline clean-up operations began on March 7 under the instructions of Environment Minister Dammika Patabendi.
“Nearly 99 percent of the oil patches have already been cleared from the affected coastal stretch,” Gunasekara said, adding that the swift intervention by authorities had prevented the incident from escalating into a wider marine pollution crisis.
Investigations carried out by MEPA have confirmed that the contamination originated from barrels containing Shell Corena S2 P 100 lubricant oil that had apparently been lost at sea and later drifted ashore.
The lubricant manufactured by Shell plc is commonly used to lubricate the internal components of reciprocating piston air compressors. Officials said the substance is not classified as a hazardous or toxic oil, easing initial fears of severe environmental damage.
MEPA General Manager Jagath Gunasekara said monitoring of the coastline was continuing to ensure that no additional oil patches washed ashore.
Meanwhile, the Department of Wildlife Conservation said there had been no confirmed reports of harm to marine animals, including sea turtles and coastal wildlife, following inspections in the affected areas.
Wildlife officials said they were continuing to keep the situation under close observation to ensure that marine fauna along the southern coast remained safe.
Authorities stressed that protecting the ecological integrity of the southern coastal belt—particularly around the Hikkaduwa marine area—remains a priority, while further investigations are under way to determine how the lubricant barrels ended up drifting in Sri Lankan waters.
By Ifham Nizam
Business
Support for psychological well-being: Launch of telemedicine psychology program in response to Ditwa Cyclone
The Sri Lanka College of Psychiatrists has launched an innovative telemedicine psychology program designed to provide essential support and mental health care to individuals adversely affected by the Ditwa Cyclone. This initiative is a vital response to the psychological challenges faced by the community in the aftermath of the disaster.
However, the implementation of this program has faced significant obstacles, primarily due to a considerable lack of access to smart devices among the target beneficiaries. Recognizing the urgency of this situation, S-lon Lanka (Pvt) Ltd has made a commendable contribution by donating tablet devices through its corporate social responsibility initiative, the “Suwasahana Charika” Program. This generous donation aims to bridge the technological gap, ensuring that individuals in need can access the psychological services offered by the telemedicine program.
The collaborative efforts were strengthened during a recent event that was attended by key figures, including Mr. S.C. Weerasekara, the Group Director / Chief Operating Officer of The Capital Maharaja Group, and Dr. Dashanthi Akmemana, the Chairman of the Sri Lanka College of Psychiatrists.
The Sri Lanka College of Psychiatrists expressed its gratitude to S-lon Lanka for its support and is committed to addressing the community’s mental health needs during this challenging time.
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