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SLT in acute share price gain in the wake of re-structuring announcement

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By Hiran H.Senewiratne

SLT stocks showed an acute price gain at the CSE yesterday following President Ranil Wickremasinghe’s revelations in the course of delivering the 2023 budget speech that the ‘re-structuring of state owned entities, including SriLankan Airlines, Sri Lanka Telecom, Sri Lanka Insurance Corporation, the Colombo Hilton and Water’s Edge would be carried out through a state enterprise reform unit’.

The proceeds will be used to strengthen foreign reserves, the President said. The Colombo Hilton is owned by Hotel Developers, a former listed company.

Sri Lanka Telecom is already a listed company in which Malaysia’s UT Group already owns almost half of shares. SLT indicated a seven per cent or Rs 4.20 gain at the end of the day. Its share price started at Rs 59.70 at the end of the day it shot up to Rs 63.90.

Amid those developments both indices moved downwards. The All- Share Price Index went down by 55.8 points and S and P SL20 went down by 9.7 points. Turnover stood at Rs 941 million with two crossings. The crossings were reported in Sampath Bank, which crossed 1.2 million shares to the tune of Rs 40.5 million, its shares traded at Rs 32 and JKH 255,000 shares crossed to the tune of Rs 35.7 million, its shares traded at Rs 139.75.

In the retail market top seven companies that mainly contributed to the turnover were; Expolanka Holdings Rs 146 million (953,000 shares traded), Lanka IOC Rs 140 million (767,000 shares traded), SLT Rs 63.2 million (987,000 shares traded), Browns Investments Rs 46.2 million (eight million shares traded, Nestle Rs 40 million (43000 shares traded), JKH Rs 28.5 million (204,000 shares traded) and LOLC Finance Rs 26.1 million (3.6 million shares traded). During the day 43.8 million share volumes changed hands in 14000 share transactions.

Further, the government will appoint a presidential commission to review the public service and taxation, President Ranil Wickremesinghe said. The presidential commission will review the public service which was consuming most taxes, Wickremesinghe said. The presidential commission on taxation will also make recommendations on the establishment of a revenue authority, he said. The Board of Investment (BOI) and Export Development Board (EDB) will be merged.

Yesterday, the Central Bank -announced daily US dollar buying rate was Rs 360.96 and the selling rate Rs 371.75.



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SLT-MOBITEL driving Sri Lanka’s economic resilience through digital infrastructure

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SLT-MOBITEL marks its triple triumph at the National Business Excellence Awards 2026

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.

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Port City Colombo strengthens Gulf investment ties at Dubai diplomatic engagement

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The panel discussion at the 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.

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American Premium Water strikes Gold at Dragons of Sri Lanka 2026

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The achievements are particularly significant given that the company’s debut at the Dragons awards has resulted in four Dragons across four categories.

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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