Business
ASPI exceeds 22,000 point mark as bourse’s bullish exuberance continues
CSE activities continued with their bullish exuberance yesterday when the IMF made positive observations on the Sri Lankan economy at an on line media conference. Subsequent positive economic indicators were attributed to this upward trend, such as the ASPI going beyond the 22,000 point mark.
Besides the S&P SL20 index, which tracks the top 20 largest and most liquid stocks on the stock market, crossed 6,200 points during trading hours.
The stock market hit a new record in the first half hour of trading when the All Share Price Index went beyond the 22,000 points mark.
The All Share Price Index went up by 143 points, while the S and P SL20 rose by 41.4 points. Turnover stood at Rs 9.7 billion with 17 crossings.
Top seven crossings were; Lanka Credit and Business, 135 million shares crossed to the tune of Rs 878 million and its shares traded at Rs 6.50, Commercial Bank 2.95 million shares crossed for Rs 572 million and its shares traded at Rs 194, DFCC 1.1 million shares crossed for Rs 185.9 million and its shares traded at Rs 164, Sanasa Developments Bank 3.2 million shares crossed for Rs 158 million; its shares traded at Rs 50, Dipped Products 1.78 million shares crossed for Rs 125 million; its shares sold at Rs 70. Pan Asia Bank 1.5 million shares crossed to the tune of Rs 98.5 million; its shares sold at Rs 66 and Distilleries 1.5 million shares crossed to the tune of Rs 90 million; its shares traded at Rs 60.
In the retail market companies that mainly contributed to the turnover were; CT Holdings Rs 685 million (one million shares traded), Lanka Credit and Business Rs 534 million (70.1 million shares traded), Dipped Products Rs 525 million (7.5 million shares traded), JKH Rs 274 million (12.5 million shares traded), Commercial Bank Rs 256 million (1.3 million shares traded), Pan Asia Bank Rs 196 million (three million shares traded). During the day 439 million shares volumes changed hands in 44242 transactions.
It is said that the banking sector performed well, especially Commercial Bank, while the manufacturing sector, especially Dipped Products, performed well too at the floor.
Yesterday the rupee opened at 302.45/55 to the US dollar, from Rs 302.46/52 the previous day, while bond yields were broadly steady, dealers said.
A bond maturing on 15.02.2028 was quoted at 9.00/10 percent.
A bond maturing on 15.10.2028 was quoted at 9.20/25 percent.
A bond maturing on 15.06.2029 was quoted at 9.55/65 percent.
A bond maturing on 15.12.2029 was quoted at 9.68/75 percent.
A bond maturing on 01.07.2030 was quoted at 9.73/80 percent, up from 9.75/80 percent.
A bond maturing on 01.11.2033 was quoted at 10.70/80 percent.
A bond maturing on 15.12.2032 was quoted at 10.45/60 percent, down from 10.50/60 percent.
The telegraphic transfer rates for the American dollar was 299.0000 buying, 306.0000 selling; the British pound was 400.9977 buying, and 412.3595 selling, and the euro was 348.3761 buying, 359.7393 selling.
By Hiran H Senewiratne
Business
Charting a worker-centered AI future: Colombo hosts landmark ITF conference
By Sanath Nanayakkare
Artificial intelligence and automation present serious challenges for workers – such as job consequences seen in docks and rail systems – and emphasises that workers cannot simply stop technological progress. By gathering young trade unionists in Sri Lanka, the ITF aims to establish key principles for engaging with technology, ensuring workers have a strong voice at the bargaining table, and encouraging constructive social dialogue with corporations and governments.
These compelling words from ITF General Secretary Stephen Cotton underscored the urgent reality facing modern labor as rapid technological advancements sweep across global industries.
Confronting this shifting landscape head-on, the International Transport Workers’ Federation (ITF), in partnership with the National Union of Seafarers of Sri Lanka (NUSS), convened a ground-breaking conference on artificial intelligence in Colombo from September 15–17.
As the ITF’s first-ever AI-focused global conference and the first of its kind hosted in Sri Lanka, the landmark event marked a critical milestone in balancing technological innovation with worker-centered safeguards.
Representing over 16.6 million transport workers worldwide, the ITF designed the gathering to tackle the multifaceted impacts of AI on safety, operations, workforce development, and governance. Rather than resisting progress, the conference focused on proactive engagement, establishing guiding principles to protect workers’ rights and privacy both at sea and on land.
Key discussions centred on sharing best practices for upskilling and reskilling transport personnel, ensuring that human oversight remains central to AI-driven logistics, routing, and maintenance.
Reflecting on the historic nature of the event, Boa Athu, CEO of National Union of Seafarers Asia Pacific, noted that the conference represented a monumental moment as AI emerges as a permanent fixture of contemporary life.
Highlighting NUSS’s pride in hosting the event in Colombo, Athu emphasised that AI offers transformative potential when guided by strong social dialogue, equitable access to training, and robust governance safeguards.
Ultimately, the Colombo conference demonstrated that the future of transport must be shaped by those who keep the world moving. By uniting international labour leaders, affiliates, port operators, and regulators, the event laid a vital foundation for inclusive policy frameworks that champion fair labour standards, securing a powerful voice for workers in an automated tomorrow.
Business
Bridging the digital divide: Sri Lanka’s airport licence challenge
By Sanath Nanayakkare
As Sri Lanka experiences a surge in visitors from its largest tourist market, India, a modern administrative hurdle has emerged at Bandaranaike International Airport (BIA).
While nations like India and Pakistan have successfully transitioned to fully digital driving licences and cashless ecosystems, Sri Lanka’s Department of Motor Traffic counter still requires a physical card to issue temporary local permits, The Island Financial Review learns.
This mismatch creates significant friction for independent travelers who rely entirely on smartphones and cloud-stored credentials. Tourists turned away at the airport – and sometimes redirected to the Werahera office in vain – find themselves unable to legally rent and drive vehicles. Consequently, this policy gap harms local car rental operators, causes tourist frustration, and deprives the government of valuable permit revenue.
The situation highlights a distinct irony: Sri Lankan motorists easily travel abroad using International Driving Permits that are readily accepted in India and Pakistan, yet local infrastructure cannot reciprocate due to outdated verification systems.
Recognizing the problem, Department of Motor Traffic officials have noted that upgrades and new equipment are currently in the works to integrate foreign digital platforms.
For a nation aggressively pursuing a national digitalisation drive, rapidly modernising these transport protocols is essential to keeping pace with global travelers and unlocking the full potential of its tourism economy.
Business
International Afro-Latin Dance Festival in Colombo to grow into a larger regional tourism draw
ALIF-SL, Sri Lanka’s first-ever international Afro-Latin dance festival, returns for its 4th edition from 25 to 27 September 2026 at the Galle Face Hotel, Colombo. The festival will bring together over 30 international and national artists and 175–200 participants from more than 20 countries, reaffirming its place as the region’s leading platform for Salsa, Bachata and Kizomba.
This year’s edition is headlined by Tropical Gem, the world’s No. 1 salsa team, travelling from Italy to perform and teach alongside a stellar international line-up. Attendees can also look forward to the ALIF Cup Sri Lanka Open, a keenly contested competition judged by an international panel, giving local dancers a rare opportunity to compete and connect with world-class talent.
“Every year, ALIF connects Sri Lanka to the world. With this year’s artist line-up and the ALIF Cup competition, we’re not just hosting a festival, we’re putting Sri Lanka on the map as a top destination for dance,” said JD Ruban, Founder and Director of ALIF-SL
Beyond the dance floor, ALIF-SL continues to support Sri Lanka’s tourism sector, drawing dancers, judges and enthusiasts from across the globe to Colombo and positioning the capital as an emerging regional hub for social dance. Organizers plan to grow the festival into a larger regional tourism draw, introduce new competition categories, and bring in even bigger headline acts in future editions.
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