Business
Lack of positive state feedback on IMF bailout hampers bourse
By Hiran H.Senewiratne
A lack of confirmation at the government’s end on the IMF bailout has dampened the CSE, resulting in the weakening of buying possibilities for investors, stock watchers said.
‘The CSE fell in mid-day trade yesterday on no positive feedback from the government side on the IMF’s US $2.9 billion bailout. Consequently, both indices moved downwards, reporting a low turnover level, an analyst said.
The All- Share Price Index fell by 147.8 points and S and P SL20 went down by 66.8 points. Turnover stood at Rs 1.26 billion with two crossings. Those crossings were reported in Melstacorp, which crossed 1.4 million shares to the tune of Rs 72.6 million, its shares traded at Rs 51 and CTC 79000 shares crossed for Rs 50.7 million, its shares fetching Rs 643.
In the retail market top seven companies that mainly contributed to the turnover were, Softlogic LIfe Insurance Rs 178 million (1.36 million shares traded), Softlogic Capital Rs 159 million (9.7 million shares traded), Expolanka Holdings Rs 143 million (803,000 shares traded), Lanka IOC Rs 98 million (524,000 shares traded), Melstacorp Rs 58.9 million (1.15 million shares traded), Aitken Spence Rs 45.1 million (300,000 shares traded) and Agstar PLC Rs 39.4 million (2.9 million shares traded). During the day 51.6 million share volumes changed hands in 13000 transactions.
Meanwhile, local bond yields opened higher on Monday, dealers said, while a guidance peg for interbank transactions remained steady.
A bond maturing on 01.07.2025 was quoted at 32.30/50 per cent, up from 32.20/50 from Friday’s close. A bond maturing on 15.05.2026 was quoted at 29.50/80 per cent, up from 29.40/60 per cent on Friday. A bond maturing on 01.05.2027 was quoted at 29.10/50, steady from Friday’s 29.20/50 per cent.
The Central Bank’s guidance peg for interbank US dollar transactions remained unchanged at Rs. 361.92 against the US dollar. Commercial banks offered dollars for telegraphic transfers at Rs. 370.35 on Monday, data showed.
Yesterday the Central Bank‘s dollar buying rate was Rs 359.46 and the selling rate Rs 369.95.
Central Bank Governor Dr. Nandalal Weerasinghe said inflation is likely to come down below 10% by the end of 2023, which would also help to gradually bring down interest rates.
Outlining the rationale for not bringing down interest rates immediately, the Governor explained at a meeting recently that it was difficult to do so as measures taken in 2021 were impacting the economy adversely.
Business
Global regulators convene in Colombo for key IOSCO enforcement and cooperation discussions
The Securities and Exchange Commission of Sri Lanka (SEC) successfully hosted a series of high-level meetings of the International Organization of Securities Commissions (IOSCO), bringing together leading securities regulators and enforcement officials from around the world to discuss emerging regulatory challenges, strengthen international cooperation, and enhance collective efforts to combat cross-border securities market misconduct.
The meetings, held at the Hilton Colombo from 13 to 16 October 2026, included sessions of the IOSCO Enforcement and Cooperation Committee and its Screening Group (Committee 4/SG), as well as meetings of the Monitoring Group and the Steering Committee. The event attracted approximately 50 senior representatives from securities regulators and exchanges across several jurisdictions, including Australia, Japan, the United States, the United Kingdom, France, Italy, Canada, New Zealand, India, Germany, Belgium, Singapore, China and Spain, reflecting the global significance of the discussions and the growing importance of international regulatory collaboration.
Welcoming delegates to Sri Lanka, Senior Professor D.B.P.H. Dissabandara, Chairman of the SEC, emphasized the critical role of international cooperation in safeguarding market integrity and investor confidence in an increasingly interconnected financial landscape.
“No regulator can effectively address cross-border misconduct in isolation. The speed with which information, transactions and illicit activities can move across borders requires an equally coordinated and timely regulatory response. Strong international cooperation, effective information sharing and mutual trust among regulators are essential to maintaining fair, transparent and resilient capital markets,” he stated.
The discussions focused on a range of enforcement and cooperation matters, including mechanisms for enhancing cross-border information exchange, strengthening investigative collaboration among regulators, addressing increasingly sophisticated forms of securities fraud and market abuse, and promoting the effective implementation of international standards and best practices. Participants also exchanged experiences and insights on emerging enforcement challenges arising from technological developments, digitalization of financial services, and increasingly interconnected global markets.
IOSCO is recognized as the leading international body that brings together the world’s securities regulators and serves as the global standard setter for securities regulation. Through its policy work and cooperative initiatives, IOSCO plays a central role in promoting investor protection, ensuring that markets are fair, efficient and transparent, reducing systemic risk, and strengthening confidence in capital markets worldwide.
Sri Lanka has maintained a strong and active relationship with IOSCO for more than three decades. The SEC became an Ordinary Member of IOSCO in 1993 and has been a signatory to the IOSCO Multilateral Memorandum of Understanding (MMoU) since 2004. The MMoU is the internationally recognised benchmark for cooperation and information sharing among securities regulators and serves as a critical tool in facilitating cross-border investigations and enforcement actions.
Business
Pan Asia Bank partners Ideal Motors to offer leasing solutions
Pan Asia Bank recently entered into a one-year Memorandum of Understanding (MOU) with Ideal Motors (Pvt) Ltd, creating a new financing avenue for customers purchasing vehicles from the authorised Mahindra dealer. The strategic partnership will enable customers of Ideal Motors to access leasing facilities from Pan Asia Bank, making vehicle financing more convenient while supporting their mobility and business requirements. The agreement also provides an opportunity for the Bank to expand its leasing portfolio and strengthen its presence in Sri Lanka’s vehicle financing market.
Ideal Motors is the authorised dealer for the Mahindra vehicle range in Sri Lanka, including the Mahindra Bolero CPU Truck and Scorpio Jeep/Pickup. The vehicles cater to a range of requirements, from commercial and business applications to personal mobility, making accessible financing an important part of the purchasing decision.
The Bank’s vehicle leasing facilities are designed to simplify the financing process, with convenient repayment options and professional support to help customers select a solution suited to their requirements. For customers, the arrangement brings vehicle selection and financing closer together, reducing the need to navigate the two processes separately.
“Our partnership with Ideal Motors enables us to bring financing closer to customers at the point of vehicle purchase. We remain focused on providing convenient and flexible leasing solutions that support both personal mobility and the needs of businesses,” said Naleen Edirisinghe, Director/CEO of Pan Asia Bank.
Pan Asia Bank and Ideal Motors will work closely during the one-year partnership to maximise business opportunities and deliver a seamless financing experience to customers. The collaboration is expected to strengthen both organisations’ ability to respond to demand for commercial and personal vehicles while creating greater value for customers.
Yohan Ebell, Head of Retail Credit, Pan Asia Bank, said: “Through this partnership, we aim to make vehicle financing simpler and more accessible, with leasing solutions designed to meet the varied requirements of Ideal Motors’ customers.”
The collaboration also reflects Pan Asia Bank’s commitment to building partnerships that make financial services more accessible and responsive to the needs of individuals and businesses.
Pan Asia Bank has established a growing presence in vehicle financing, offering leasing solutions designed around customer convenience and flexibility. Its leasing proposition is supported by a nationwide branch network and a customer-focused approach, enabling customers to obtain guidance on financing options while completing their vehicle purchase.
Business
Heritance Hotels and Resorts secures four wins at World Travel Awards 2026
Heritance Hotels and Resorts has secured four distinguished titles at the World Travel Awards 2026, with three national awards recognising its Sri Lankan properties and an international title for Heritance Aarah in the Maldives.
The three Sri Lankan titles recognise Heritance Tea Factory as Sri Lanka’s Leading Heritage Hotel 2026, Heritance Ahungalla as Sri Lanka’s Leading Luxury Hotel 2026, and Heritance Kandalama as Sri Lanka’s Leading Wedding Hotel 2026. Heritance Aarah was named the Indian Ocean’s Leading All-Inclusive Resort 2026.
Internationally recognised within the global travel and tourism industry, the World Travel Awards celebrate excellence across hotels, resorts, and destinations. Recognition at this level affirms the quality, distinctiveness, and consistency of the experiences delivered by Heritance Hotels and Resorts.
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