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ASPI hits record high for fourth consecutive day

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By Hiran H.Senewiratne

The CSE was on a high yesterday with both indices gaining by over 10 per cent and turnover hitting a healthy record due to strategic deals and an active retail market. The All- Share Price Index of the CSE surged 92.49 points to close at a record all- time high of 13.169.40 for the fourth consecutive day, stock market analysts said.

The stock market was positive throughout, driven by LOLC Group counters and other such blue-chip counters. One reason for the market to move up was the Central Bank decision to grant permission for Commercial Leasing and Finance and Sinhaputhra Finance to merge according to a consolidation plan. Under this proposed merger, Sinhaputhra Finance shareholders having 10000 shares of the company, will obtain 7803 shares in Commercial Leasing and Finance.

Further, LOLC Holdings has rolled out a major business consolidation master plan where they strengthen the financial sector entities. Under this plan one of its subsidiaries, LOLC Finance, will merge with Commercial Leasing and Finance. With this merger Commercial Leasing and Finance will exit the business, analysts said.

Amid those developments LOLC Holding companies’ share prices appreciated in the stock market. During the day Lanka IOC stocks also appreciated with the announcing of the possible joint venture with Ceylon Petroleum Corporation. The new joint venture would be Trinco Petroleum Terminals Ltd and it is expected to get Cabinet approval this week.

Accordingly, both indices moved upwards. The All -Share Price Index went up by 92.5 points and S and P SL20 rose by 46.9 points, which also reached the 4500 level. Turnover stood at Rs 9.4 billion with three crossings. Those crossings were reported in LBL Energy Fund, which crossed six million shares to the tune of Rs 66 million and its shares traded at Rs 11, Windforce 1.3 million shares crossed for Rs 24.7 million, its shares trading at Rs 19 and Browns Investments 49000 shares crossed for Rs 20 million, its shares fetching Rs 402.

In the retail market seven companies that mainly contributed to the turnover were, LOLC Finance Rs 1.2 billion (40.7 million shares traded), Browns Investments Rs 966 million (51.8 million shares traded), Sunshine Holdings Rs 683 million (10.5 million shares traded), Hayleys Rs 446 million (3.1 million shares traded), Expolanka Holdings Rs 384 million (985,000 shares traded), Royal Ceramic Rs 380 million (4.8 million shares traded) and LOLC Holdings Rs 363 million (253,000 shares traded). During the day 418 million share volumes changed hands in 67000 transactions.

On the previous day, Browns Investments’ acquisitions of Sierra Cables (Rs. 1,792 million – consisting of 29.50 per cent of an outstanding number of shares) and Agstar PLC (Rs. 1,123 million – consisting of 43.75 per cent of Voting shares and 66.66 per cent of non- Voting shares) pushed turnover to reach a four-month high at Rs. 15,561 million. However, that momentum continued yesterday as well.

Due to that Agstar and Sierra Cables share prices appreciated. Agstar share price appreciated by 45 per cent or Rs 3.60. Its share price shot up to Rs 11.40 from Rs 8. Sierra Cables share price appreciated by 40 per cent or Rs 10.90. Its share price appreciated to Rs 16 from Rs 11.50. Further, Softlogic Holdings share price appreciated by 28 per cent or Rs 10.90. Its share price appreciated to Rs 48.80 from Rs 39.10.

It is said that high net worth and institutional investor participation was noted in JKH, Teejay Lanka and Softlogic Capital. Mixed interest was observed in Expolanka Holdings, Lanka Orix Finance and LOLC Holdings, while retail interest was noted in Sierra Cables, Agstar and Browns Investments.

Yesterday, the US dollar was quoted at Rs 202.06, which was the Central Bank controlled price to prevent price escalations of the essential imports. This artificial suppression of the dollar as against the rupee created some negative impact to the economy, sources said.



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USA–Sri Lanka Chamber of Commerce plans New York campaign to promote Tourism and Business

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The initiative will provide Sri Lankan businesses with a vital platform to introduce their products and services to the American market

Timing aligns with national policy discussions

By Sanath Nanayakkare

The USA–Sri Lanka Chamber of Commerce is exploring an innovative promotional initiative to showcase Sri Lanka’s tourism, cultural heritage, and commercial opportunities in the heart of New York City during the upcoming Christmas and holiday season.

The proposed campaign aims to bring Sri Lanka’s unique identity to one of the world’s most internationally recognized cities through a mobile digital billboard featuring high-quality photographs and videos highlighting the island’s natural beauty, rich heritage, and diverse commercial offerings. Designed to capitalize on New York City’s significant holiday-season foot traffic, the initiative will reach American consumers, international tourists, and potential business partners.

The digital showcase will feature pristine beaches, scenic mountains, waterfalls, tea plantations, wildlife, ancient cities, Buddhist heritage, traditional arts, authentic cuisine, and modern attractions, positioning the country as a premier international travel destination. An interactive QR code linking to comprehensive tourism information will also be incorporated, allowing viewers to directly explore travel opportunities.

Beyond destination promotion, the initiative provides Sri Lankan businesses with a vital platform to introduce their products and services to the American market. Enterprises representing Ceylon tea, spices, food products, gems and jewellery, apparel, handicrafts, wellness, hospitality, and tourism will have the opportunity to showcase their brands alongside the broader national campaign.

The Chamber notes that this effort will be particularly beneficial for small and medium-sized enterprises (SMEs) seeking greater international exposure, brand recognition, and commercial partnerships in the United States. By integrating tourism promotion with commercial visibility, the project aims to strengthen Sri Lanka’s international image while supporting trade, investment, and business development.

Operating under the central message of “Discover Sri Lanka. Experience Sri Lanka. Visit Sri Lanka,” the campaign presents the island as a destination defined by natural beauty, cultural richness, distinctive products, and entrepreneurial potential. More information on the initiative is accessible at www.usaslcc.org.

Tourism sector stakeholders have welcomed the move, noting that private-sector-led initiatives of this nature bypass cumbersome bureaucratic procurement procedures and complex tender processes typically associated with state-run promotional campaigns abroad.

The timing aligns with recent national policy discussions regarding tourism promotion. Participating in a Fireside Chat at the inauguration of the Sri Lanka Economic and Investment Summit 2026, organized by the Ceylon Chamber of Commerce, President Anura Kumara Dissanayake emphasized that a proper procurement mechanism needs to be established before acquiring tourism promotional concepts, recommending a performance-based system where agencies are compensated according to verified growth in tourist arrivals.

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Seylan Bank partners Colombo Motor Show 2026 as official banking and leasing partner

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For 10th consecutive year

Seylan Bank PLC, the Bank with a Heart, has reaffirmed its commitment to supporting Sri Lanka’s automotive industry by partnering with the 20th edition of the Colombo Motor Show 2026 as the Official Banking & Leasing Partner for the 10th consecutive year. This makes Seylan Bank the longest-standing partner of the Colombo Motor Show, further reflecting its longstanding association with one of Sri Lanka’s most prominent automotive exhibitions. The four-day exhibition is scheduled to take place from 20th to 23rd November 2026 at the Bandaranaike Memorial International Conference Hall (BMICH), marking the first time the Colombo Motor Show will be held as a four-day event.

As one of Sri Lanka’s leading international motor and motor accessories exhibitions, the Colombo Motor Show will bring together vehicle enthusiasts, prospective buyers, industry professionals and automotive service providers. The 2026 edition is expected to feature over 200 trade stalls covering motor vehicles, accessories, spare parts, lubricants, tyres, batteries, leasing facilities and other motor-related services.

Through its continued partnership, Seylan Bank will showcase a comprehensive range of financial solutions designed to support customers in meeting their personal and business needs, with a particular focus on Seylan Leasing facilities. Visitors to the exhibition will have the opportunity to receive on-the-spot leasing evaluations and expert guidance from Seylan Leasing Specialists, helping them explore vehicle financing options conveniently during the event.

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WCIC sharpens focus on scaling women-owned businesses

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WCIC Office Bearers

The Women’s Chamber of Industry and Commerce (WCIC) is sharpening its focus on helping women entrepreneurs move beyond business creation towards sustainable growth, as it expands its membership, partnerships and advocacy footprint.

WCIC Chairperson Gayani de Alwis, concluding her second tenure, highlighted the Chamber’s efforts had increasingly centered on creating pathways for women to translate entrepreneurial ambition into viable enterprises and, importantly, build those businesses for the longer term.

“Ultimately, our impact is not measured by the number of programmes we conducted, but by the women whose businesses grew, whose voices became stronger, whose horizons expanded and whose contribution to the economy became greater,” she said addressing the WCIC 41st Annual General Meeting (AGM) held on 22 September for which the Chief Guest was Canadian High Commissioner to Sri Lanka and the Maldives Isabelle Martin.

The focus has included a special initiative for female university students with an entrepreneurial mindset, regional chapter initiatives in the Northern Province, capacity-building programmes and the inaugural ‘Beyond Ramp Up’ workshop.

The Chairperson said these initiatives were designed to move women “from aspiration to enterprise, and from enterprise to sustainable growth”, signaling a broader focus on strengthening the progression of women entrepreneurs beyond the initial stages of business formation.

WCIC recorded a 20 percent increase in membership during the period with membership crossing 460 and expanded its ecosystem through a series of strategic partnerships.

Internally, WCIC moved to strengthen its governance framework, revising its Articles of Association to ensure regulatory compliance and introducing a Code of Conduct and Board self-assessment. Clearer organisational roles, job descriptions and performance targets were also introduced as part of efforts to strengthen accountability and professionalise its operations.

Reflecting on her tenure, the Chairperson said the period had been about building a stronger, more connected and professionally governed organisation, while converting its wider ambitions into tangible opportunities for women in business.

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