Business
Bourse in 2.3 per cent mid-morning plunge; panic selling hits market
By Hiran H.Senewiratne
CSE shares fell over 2.3 per cent in mid-morning trade yesterday, slipping for the fourth session, dragged down by heavy index counters. This has resulted in panic- selling of the market by investors, stock market analysts said.
According to brokers, margin investors are familiar with the “routine” margin call, where the broker asks for additional funds when the equity in the customer’s account declines below certain required levels. Normally, the broker will allow from two to five days to meet the call. ‘Therefore, the dip in imports continued in September, but has yet to decline to the lowest in recent years despite stepped up controls that worry market investors, apart from delays in IMF discussions, stock market analysts said.
September 2022 saw $ 1.28 billion in imports, down from $ 1.48 billion the previous month and 16 per cent year- on- year. However, the June 2022 figure at $ 1.22 billion remains the lowest so far this year, suggesting there is room for further decline given the foreign exchange crisis. The lowest import figure was in May 2020 at $ 994 million as an immediate impact of the COVID-19 pandemic, market analysts said.
Amid those developments both indices moved downwards. The All-Share Price Index went down by 227.6 points and S and P SL20 declined by 68.1 points. Turnover stood at Rs 1.1 billion with a single crossing. The crossing was reported in Renuka Holdings, which crossed 2.7 million shares to the tune of Rs 43 million, its shares traded at Rs 16.
In the retail market top seven companies that mainly contributed to the turnover were; Expolanka Holdings Rs 235 million (1.5 million shares traded), Lanka IOC Rs 133 million (776,000 shares traded), JKH Rs 72 million (545,000 shares traded), ACL Cables Rs 63.5 million (875,000 shares traded), Kegalle Plantations Rs 30 million (201,000 shares traded), Agsta Rs 29.5 million (1.6 million shares traded) and Expack Corrugated Cartons Rs 28.5 million (1.8 million shares traded). During the day 46.5 million share volumes changed hands in 18000 share transactions.
Yesterday the Central Bank- announced US dollar buying rate was Rs 360.88 and the selling rate Rs 371.68.
Business
APHNH aims to make Sri Lanka more competitive for healthcare investment
Sri Lanka private healthcare leaders recently pledged an action plan with timelines to address the practical priorities of Sri Lanka’s healthcare sector while making it more viable for local and foreign investments.
The Association of Private Hospitals and Nursing Homes (APHNH) has committed to converting recommendations from its first Healthcare Leadership Summit into a trackable outcome document with defined actions, responsibilities, and timelines, marking a shift from discussion to implementation in sector reform efforts.
The summit held on March 9 at Waters Edge, Colombo, brought together hospital leaders, policymakers, regulators, insurers, and international experts to address practical priorities for Sri Lanka’s healthcare sector.
A key outcome of the summit was APHNH’s plan to consolidate recommendations into a single, trackable charter that will outline specific actions, assign responsibilities, establish timelines, and provide periodic progress updates.
“Our objective is to bring the right decision-makers into one room and focus on what can be implemented, not only what can be discussed, ” said Raveen Wickremesinghe, President of APHNH. “We are committed to taking the inputs from today and converting them into a clear, trackable set of actions that strengthens quality, transparency and public confidence, while supporting national health priorities. “
The summit featured insights from Dr. Hafeez Rahman Padiyath, Dr. Hamdani Anver, and Chandana L. Aluthgama on scaling quality and operational discipline. A keynote and fireside discussion with Dr. Paiboon Eksangsri, President of the Private Hospital Association of Thailand, explored lessons from Thailand’s private healthcare development and conditions for making Sri Lanka more competitive for healthcare investment.
By Sanath Nanayakkare
Business
Atlas SipSavi Naththal Poronduwa records positive public participation, benefiting 10,000 students
Atlas, Sri Lanka’s No. 1 learning brand, successfully concluded Atlas SipSavi Naththal Poronduwa, a national initiative that saw strong public participation in supporting children at risk of dropping out of school due to financial hardship. At a time when more than 22,000 Sri Lankan children leave school each year due to rising economic challenges, the initiative reinforced Atlas Sipsavi’s long-standing ‘No Child Left Behind’ promise by turning seasonal generosity into meaningful educational support.
The initiative reached 10,000 students, with beneficiary schools carefully selected to ensure support reached those most in need. The collected books were distributed to children at risk of dropping out, including those whose education had been disrupted by recent adverse weather, ensuring students had essential learning resources at the start of the new school term. Through its flagship Atlas SipSavi programme, the brand focused on improving access to education by providing essential learning tools, scholarships, and infrastructure to create better learning environments, bringing its purpose of ‘making learning fun’ to life in a meaningful way. As part of the initiative, the public was invited to donate schoolbooks, with each contribution matched one-for-one by Atlas. Donation boxes were placed at all Keells outlets island-wide and at Sarvodaya District Offices, making it easy for communities to take part.
Business
John Keells Logistics expands strategic engagement with CWIT through inter-terminal transport operations
John Keells Logistics (Pvt) Ltd (JKLL), one of Sri Lanka’s leading third-party logistics solutions providers, has successfully expanded its operational engagement with Colombo West International Terminal (Private) Limited (CWIT), through inter-terminal transport services within the Port of Colombo. This enhanced engagement further strengthens CWIT’s efforts to improve operational efficiency, reliability, and scalability across terminal activities.
Inter-terminal transport plays a critical role in modern port operations, requiring high levels of coordination, precision, and operational discipline. JKLL’s appointment for ITT operations reflects CWIT’s confidence in the company’s demonstrated capabilities in managing complex transport operations within a high-throughput port environment.
The ITT operations are underpinned by JKLL’s technology-enabled logistics framework, incorporating real-time fleet tracking, performance monitoring systems, and data-driven operational planning. These capabilities provide enhanced visibility and control over transport movements, while ensuring compliance with established safety, productivity, and service quality standards.
The awarding of this engagement to JKLL is a testament to the successful implementation of the Inter-Terminal Vehicle (ITV) operations undertaken by John Keells Logistics at CWIT during the previous year. The ITV assignment was executed through structured operating procedures and disciplined service delivery, contributing to improved cargo movement, operational coordination, and service continuity within the terminal. The performance outcomes of the ITV operations provided the basis for the subsequent expansion of the partnership into ITT services.
-
News5 days agoRepatriation of Iranian naval personnel Sri Lanka’s call: Washington
-
Features5 days agoWinds of Change:Geopolitics at the crossroads of South and Southeast Asia
-
News4 days agoProf. Dunusinghe warns Lanka at serious risk due to ME war
-
Sports3 days agoRoyal start favourites in historic Battle of the Blues
-
Sports2 days agoThe 147th Royal–Thomian and 175 Years of the School by the Sea
-
News2 days agoHistoric address by BASL President at the Supreme Court of India
-
News3 days agoCEBEU warns of operational disruptions amid uncertainty over CEB restructuring
-
Features7 days agoThe final voyage of the Iranian warship sunk by the US
