Business
Aberdeen Holdings sells 4.5 percent stake in Ex-Pack Corrugated Cartons for Rs. 240 million
By Hiran H,Senewiratne
Aberdeen Holdings, a privately-held diversified conglomerate in Colombo, has shed 4.5 per cent of its stake in Ex-Pack Corrugated Cartons PLC for Rs. 240 million, CSE sources said.
It is said that I15 million shares were done via two crossings at Rs. 16 each. Overall Ex-Pack saw 20.4 million shares changing hands via 816 trades for Rs. 331.5 million.
The share price closed at Rs. 17.30, up by 50 cents or 3 per cent. Ex-Pack’s net assets per share as at June 30 was Rs. 5.90, up from Rs. 5.20 as at end FY21. Highest value in 1Q of FY22 was Rs. 25.40 and the lowest was Rs. 7, while it closed the quarter at Rs. 9.20.
Amid those developments the CSE started on a positive note at the beginning of yesterday but shares fell in mid-morning trade.
Market analysts were expecting some movement of funds out of the equities market ahead of the Rs 75 billion bond auction due to better interest rates, market analysts said.
Plantation companies have witnessed some profit-takings which resulted in the overall downturn of the market. However, Lanka IOC stocks are still at their peak level and noted heavy buying interests anticipate major profits for the company due to the ongoing oil crisis in the country.
Both CSE indices moved downwards. The All- Share Price Index went down by 64 points and S and P SL20 declined by 4.1 points. Turnover stood at Rs 3.7 billion with a single crossing. The crossing was reported in Watawala Plantations, which crossed 3.7 million shares to the tune of Rs 340 million and its shares traded at Rs 92.
In the retail market top seven companies that mainly contributed to the turnover were, Lanka IOC Rs 507 million (1.9 million shares traded), Expolanka Holdings Rs 278 million (1.2 million shares traded), Watawala Plantations Rs 178 million (1.8 million shares traded), CIC Holdings (Non- Voting) Rs 168.6 million (2.3 million shares traded), ACL Cables Rs 149 million (1.8 million shares traded), Balangoda Plantations Rs 149 million (1.3 million shares traded) and CIC Holdings (Voting) Rs 118 million (1.3 million shares traded). During the day 152 million share volumes changed hands in 38000 transactions.
The Index opened on a positive note and remained high throughout the session and closed at 9,813, gaining 109 points backed by Lanka IOC, the top contributor to the ASPI. Turnover improved, led by a joint contribution of 44% from the Materials sector and Capital Goods sector.
It is said high net worth and institutional investor participation was noted in Ex-Pack Corrugated Cartons, JKH and Royal Ceramics. Mixed interest was observed in Lanka IOC, Expolanka Holdings and ACL Cables, while retail interest was noted in SMB Leasing, Browns Investments and Industrial Asphalts.
Yesterday, the Central Bank announced dollar buying rate was Rs 358.78 and the selling rate Rs 369.61.
Business
Ceylon Chamber’s Investment Summit 2026 to steer Sri Lanka beyond stabilisation
Sri Lanka’s national economic discourse takes center stage today as the country’s premier private-sector body, The Ceylon Chamber of Commerce, hosts the Sri Lanka Economic & Investment Summit 2026 at the Shangri-La Colombo.
Convening on October 12 and 13, the two-day summit brings together an influential gathering of senior policymakers, international financiers, multilateral development partners, and private-sector captains to chart the island’s next phase of macroeconomic growth.
Held under the theme “Positioning Sri Lanka in a Changing Global Economy: Resilience, Reform, and the Future of Economic Policy,” this year’s forum marks a critical inflection point in the nation’s post-crisis trajectory.
As Sri Lanka shifts its emphasis from immediate financial stabilization toward sustainable, long-term expansion, the summit aims to address the structural imperatives necessary to secure high-impact foreign direct investment (FDI), deepen regional trade integration, and unlock emerging sectors of economic activity.
The core agenda over the two days focuses on building resilience across volatile global market cycles while executing targeted policy reforms. Key working sessions will examine:
Regional Value Chains & Trade Integration: Leveraging Sri Lanka’s strategic Indian Ocean geography to capture higher-value export flows and commercial linkages.
Energy & Infrastructure Transformation: Accelerating renewable energy integration and modernizing national utility policy.
Digital Economy & Public Modernization: Deploying digital technologies across public administration and financial services to enhance operational efficiency and transparency.
Sectoral Priorities: Modernizing healthcare infrastructure and agricultural value-addition to build a robust domestic economic base.
A defining feature of this year’s summit is the strong convergence between state policy and global commercial expertise. Keynote addresses and panel discussions will feature prominent leaders, including Prime Minister Dr. Harini Amarasuriya and T. Krishnakumar, Chief Executive Officer of Reliance Consumer Products Ltd.
They will be joined by senior delegations and policy experts from major global institutions, including:
= The Asian Development Bank (ADB)
= The International Finance Corporation (IFC)
= Standard Chartered Bank
= Zydus Lifesciences
The active participation of the country’s highest executive and legislative leadership across both days underscores a clear policy commitment to private-sector-led growth. By establishing a direct, high-level platform for dialogue between investors and policymakers, the Ceylon Chamber’s summit seeks to refine regulatory frameworks, improve the ease of doing business, and establish a clear, predictable environment for capital formation in the years ahead.
Business
White House blocks Microsoft from foreign worker hiring programme
Microsoft and several other technology firms have been barred by the White House from hiring skilled international workers on a permanent basis through a widely used visa programme.
US Vice-President JD Vance on Thursday accused Microsoft alongside other firms of committing fraud through the use of the H-1B visa programme and a related process for workers from abroad to become permanent US residents.
Vance claimed that Microsoft, one of the most valuable companies in the US, has been effectively replacing American workers with “foreign indentured servants.”
Microsoft said most of the H-1B visas filed over the last financial year were for existing workers, who are paid the same as local staff.
“No company in the US has abused this system more than Microsoft,” Vance said.
He also made similar accusations about Adobe, Cognizant, Infosys, Tata, Wipro, HCL and Capgemini.
The US government will not process any new or pending Permanent Labor Certification Program (PERM) applications from Microsoft or the seven other companies, Secretary of Labor Keith Sonderling said during the same conference.
Sonderling said companies like Microsoft, as well as US universities, have turned into “visa mills” that were “flooding” the US with foreign workers.
The BBC has contacted all of the companies for comment.
The total number of H-1B visas, a precursor to anyone seeking to go through the PERM process, is capped at 85,000 per year.
A spokeswoman for Microsoft noted to the BBC that “the vast majority of Microsoft employees in the United States are Americans.” The company employs more than 200,000 people worldwide.
Business
ComBank unites stakeholders to prepare agri sector for El Niño
In response to emerging climate risks, the Commercial Bank of Ceylon has launched a proactive initiative through its Development Credit Department, to equip Sri Lanka’s agricultural sector against the potential impacts of the 2026 El Niño climate pattern.
Seeking to move the industry from reactive loss management to early climate preparedness, the Bank partnered with leading state universities to execute a two-part educational and technological intervention in September 2026.
The initiative comes at a critical juncture. Sri Lanka’s Department of Meteorology reported an 80% probability of El Niño conditions emerging between June and August 2026, with effects expected to persist through November and beyond. As highlighted by the Food and Agriculture Organization (FAO), El Niño acts as a risk multiplier for rural livelihoods, food production, and water supply.
To mitigate these threats, the Bank’s initiative creates a collaborative network uniting academic institutions, agricultural extension services, technology providers, farming communities, and the financial sector. The awareness programme on El-Niño and its impact on agriculture was supported by 12 Commercial Bank branches, and engaged with more than 1,100 farmers at 15 diverse locations, including Vattapalai, Muththajankaddu, Palampas, Oddusuddan, Siyambalanduwa, Lindula, Neluwa, Kalawana, Pannala, Madampe, Mannar, Vavuniya and Kumalamunai.
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