Business
Domestic debt restructuring worries bring down bourse
By Hiran H.Senewiratne
The CSE closed weaker yesterday to a more than one-week low in dull trade amid negative market sentiments due to investors waiting for directions from the 2023 budget scheduled for November 14, and worries over domestic debt restructuring, stock brokers said. A Ministry of Finance statement said domestic debt was included in the perimeter of an International Monetary Fund debt analysis. “This means liquidity conditions are going to tighten and might strain the profitability of local banks, stock market analysts said.
CSE shares fell in mid-day trade pulled down by index heavy shares and gloomy conditions in the external environment. The US Fed Reserve is also planning an interest hike, adding insult to the injury endured by the stock market, analysts said. However, investor sentiment improved latterly as retailers said that they expect interest rates to fall in line with inflation.
The main All Share Price Index (ASPI) fell 0.72 per cent or 52.9 points and the most liquid S&P SL20 fell by 6.9 points. Turnover stood at Rs 1.1 billion with two crossings. Those crossings were reported in Cargills, which crossed 914,000 shares to the tune of Rs 205 million, its shares traded at Rs 225 and Browns Investments 6.7 million shares crossed to the tune of Rs 40.1 million, its shares traded at Rs 6.
In the retail market top seven companies that mainly contributed to the turnover were; Expolanka Holdings Rs 228 million (1.4 million shares traded), Aitken Spence Rs 86.9 million (648,000 shares traded), Lanka IOC Rs 81.5 million (456,000 shares traded), Browns Investments Rs 60 million (9.9 million shares traded), Dipped Products Rs 32.1 million (1.1 million shares traded), Royal Ceramic Rs 31.9 million (one million shares traded) and CIC Holdings Rs 31.2 million (362,000 shares traded). During the day, 50.1 million share volumes changed hands in 12000 transactions.
It is said high net worth and institutional investor participation was noted in Browns Investments and C.T. Holdings. Mixed interest was observed in Expolanka Holdings, Lanka IOC and JKH, while retail interest was noted in SMB Leasing, Tess Agro and LOLC General Insurance.The Transportation sector was the top contributor to the market turnover (due to Expolanka Holdings) while the sector index gained 0.45 per cent. The share price of Expolanka Holdings increased by 75 cents to close at Rs. 167.75.
The Energy sector was the second highest contributor to the market turnover (due to Lanka IOC), while the sector index increased by 0.22 per cent. The share price of Lanka IOC gained one rupee to close at Rs. 176.25.Yesterday the Central Bank- announced US dollar buying rate was Rs 360.76 and the selling rate Rs 371.56.
Business
SLT-MOBITEL driving Sri Lanka’s economic resilience through digital infrastructure
Corporate accolades underscore the alignment between its operational excellence and national development
In an era where national competitiveness is intrinsically tied to digital connectivity, strengthening the country’s digital backbone has become an urgent priority. Within this context, the evolving role of Sri Lanka’s leading telecommunications provider, SLT-MOBITEL, offers valuable insight into how technological infrastructure can underpin broader economic resilience.
Telecommunications and digital networks are foundational to economic transformation. By expanding high-speed broadband access, upgrading enterprise cloud capabilities, and bridging the urban-rural connectivity divide, SLT-MOBITEL helps reduce business transaction costs, streamline supply chains, and enable micro, small, and medium enterprises to reach global markets.
Recent corporate accolades further underscore this alignment between operational excellence and national development. SLT-MOBITEL’s triple triumph at the National Business Excellence Awards 2026 – winning in the Infrastructure and Utilities sector, Performance Management, and ICT Services categories – highlights its growing impact. Notably, the recognition of eChannelling’s contributions to digital healthcare reflects a broader strategic pivot toward integrated technology solutions.
“Institutional efficiency of this nature is critical for attracting foreign direct investment, as global partners increasingly assess a country’s digital maturity and systemic stability before committing capital,” noted industry observers.
Moreover, the company’s transition from a conventional telecom utility to a comprehensive digital solutions provider aligns seamlessly with Sri Lanka’s national digitalisation agenda. As the country pursues public sector modernisation, enhanced e-governance, and a competitive knowledge economy, the private sector must step up to deliver secure, scalable, and future-ready networks. Investments in data centres, cybersecurity frameworks, and advanced ICT infrastructure act as strategic buffers, ensuring that Sri Lanka’s economic apparatus remains agile and resilient amid future global uncertainties.
However, industry experts caution that while these achievements are commendable, SLT-MOBITEL still has a considerable distance to cover in fully enabling a truly digital economy.
Business
Port City Colombo strengthens Gulf investment ties at Dubai diplomatic engagement
Port City Colombo (PCC) took a prominent role as Platinum Sponsor at the second edition of Sri Lanka Beyond Your Dreams, a high-level diplomatic and investment engagement hosted by the Consulate General of Sri Lanka in Dubai and the Northern Emirates. The event, held on 2nd September 2026 at the Hilton Dubai Al Habtoor City, brought together over 400 senior UAE-based business leaders, investors, diplomats, and institutional stakeholders, alongside Sri Lanka’s most senior government representatives.
The gathering was graced by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, as Guest of Honour, and Vijitha Herath, Sri Lanka’s Minister of Foreign Affairs, Foreign Employment and Tourism. A high-level Sri Lankan delegation – including the Secretary to the Prime Minister, the Chairman of the Board of Investment, the Chairman of the Export Development Board, and the Director General of Commerce – underscored the government’s strong commitment to deepening economic diplomacy with the UAE.
In his keynote address, Minister Herath reaffirmed the centuries-old ties between Sri Lanka and the Arab region, emphasising the UAE’s vital role as a key economic partner. He stressed the urgency of finalising a Comprehensive Economic Partnership Agreement (CEPA) with the UAE, which would establish a robust framework to elevate trade, investment, and bilateral cooperation. Declaring Sri Lanka “open and ready for business,” he positioned Port City Colombo as the physical embodiment of this economic mission – a modern Special Economic Zone (SEZ) with a dedicated legal framework and competitive incentives, offering UAE investors a natural gateway to South Asia while maintaining strong Gulf connectivity.
Business
American Premium Water strikes Gold at Dragons of Sri Lanka 2026
American Premium Water has secured four wins at Dragons of Sri Lanka Awards 2026, including three Gold Dragons and one Black Dragon, marking a significant milestone for the brand following its relaunch last year.
Part of the prestigious Dragons of Asia awards, Dragons of Sri Lanka brings the program’s regional platform to the local market, celebrating creative and effective marketing communications, with entries evaluated on strategic thinking, creativity, execution and impact. Established in 2000, Dragons of Asia is one of Asia’s premier results-driven marketing awards programs.
For American Premium Water, the achievements are particularly significant given that the company’s debut at the Dragons awards has resulted in four Dragons across four categories. In the distinction of Gold Dragons, American Premium Water was recognized across three categories including Product Launch or Re Launch, Cause, Environment or Sustainability and Creative Excellence while the Black Dragon was awarded in recognition of Small Budget.
Competing alongside leading brands and agencies in Sri Lanka, American Premium Water’s four wins demonstrate the strength and effectiveness of its recent work. Winning three Gold Dragons across three distinct categories highlights the breadth of the brand’s achievements, while the Black Dragon for Small Budget further emphasizes its ability to create meaningful impact through focused and efficient investment.
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