Business
Both CSE indices dip but turnover exceeds Rs. 12 billion
By Hiran H.Senewiratne
CSE trading activities yesterday started on a bullish note but subsequently showed some selling pressure due to Standard and Poors’, a rating agency, cutting the outlook of Sri Lanka’s CCC+ rating to negative as foreign reserves fell below two months’ imports, market analysts said. However, although both CSE indices slid, turnover was healthy.
“We revised our outlook on Sri Lanka to negative to reflect our views that the government may face an increasingly challenging financing environment over the next 12 months, S&P sources said in its report.
“The negative outlook reflects our expectation that Sri Lanka’s financing environment may get more difficult over the next 12 months. This would affect Sri Lanka’s ability to service its debt. The country’s external position remains a key vulnerability on the rating, S&P sources said.
The rating agency said reserves had fallen below 3 billion US dollars or less than two months of import cover.
All Share Price Index went down by 63.07 points and S and P SL20 declined by 42.16 points. Turnover stood at Rs. 12.85 billion with three crossings. Those crossings were reported in JKH, where 1,000,000 shares crossed to the tune of Rs. 135 million, its shares traded at Rs. 130.50, LB Finance 1,000,000 shares crossed for Rs. 63 million, its shares traded at Rs. 63 and Sanasa Development Bank 725,000 shares crossed for Rs 36.6 million, and its shares traded at Rs. 50.50.
In the retail market, five companies that mainly contributed to the turnover were, Browns Investments Rs. 4.79 billion (446 million shares traded), Expolanka Holdings Rs. 1.8 billion (12.6 million shares traded), Dipped Products Rs. 1.28 billion (18.4 million shares traded), LOLC Holdings Rs. 1.15 billion (1.8 million shares traded) and Hayleys PLC Rs. 584 million (5.2 million shares traded). During the day 650 million share volumes changed hands in 6600 transactions.
Sri Lanka’s Expolanka Holdings said it had bought a 100 percent stake in US-based IDEA Logistics LLC, through two overseas units for US $ 97 million.
“EFL Global Logistics (Pte.) Ltd (Singapore) and EFL Global LLC (USA), fully owned subsidiaries of Expolanka Holdings PLC, have acquired 100 percent equity interest in IDEA Logistics LLC and its Group of Companies on the 10th August 2021 for a total purchase consideration of US $ 9.7 million, the firm said in a stock exchange filing.
IDEA Logistics LLC is a Central American logistics company headquartered in the United States, servicing a range of US customers, offering freight forwarding, warehousing and trucking services.
Further, LOLC Holdings PLC, with its robust Micro, Small and Medium Enterprises-based (MSMEs) business model said it is expanding the global footprint with three parallel investments in Tajikistan in Central Asia as well as Malawi and Tanzania in East Africa.
Business
Indra Traders launches Athwela Programme in partnership with Bank of Ceylon
Indra Traders recently introduced a special programme titled “Athwela” in collaboration with the Bank of Ceylon (BOC).
The programme was designed with a primary focus on customer convenience, aiming to provide essential support by simplifying the financial challenges often associated with vehicle purchasing and servicing. This initiative is regarded as a further strengthening of the trust and relationships Indra Traders has built over its decades of service excellence.
The partner for this program, the Bank of Ceylon (BOC), is Sri Lanka’s largest state bank and a premier financial institution. It offers an extensive island-wide branch network, exceptional customer service, and some of the most competitive interest rates in the market.
Speaking at the event, Rushanka Silva, Managing Director of Indra Traders, said: “Today is a very special day for us. As Indra Traders, a company engaged in business for over five decades, it is a great honor to enter into the ‘Athwela’ agreement with Sri Lanka’s largest bank. Through this program, we are working to provide various financial and service facilities, including leasing. As a company that imports everything from the smallest to the largest vehicles, we provide customers the opportunity to purchase any vehicle they need through our six yards located across the island. Even if a specific vehicle is not in our current stock, we are prepared to import it according to the customer’s requirement. I invite all customers to join hands with ‘Athwela’.”
Y. A. Jayathilaka, General Manager of Bank of Ceylon, added “At a time when restrictions on vehicle imports have been relaxed, it is a great pleasure for Bank of Ceylon, the strongest bank in the country, to partner with Indra Traders – a company with over 50 years of trusted history. Our goal is to provide a comprehensive and convenient service to leasing customers across the island by combining BOC’s extensive branch network with Indra Traders’ expertise.”
Business
Launch of new Beijing-Colombo air link announced in China
The Sri Lankan Embassy in Beijing together with Beijing Capital Airlines last week organized a destination promotion event and announced the launch the Capital Airlines direct flights from Beijing to Colombo.
While congratulating Beijing Capital Airlines for expanding the connectivity between Beijing and Colombo, the Sri Lanka Ambassador Majintha Jayesinghe highlighted the longstanding bilateral relations between the two countries and the significance of strengthening connectivity in line with the Joint Statement issued following the meeting in January 2025 between President Xi Jinping and President Anura Kumara Disanayaka, a news release from the embassy said.
The President of the Beijing Capital Airlines Liu Jun expressed appreciation and stated that the new route is an important milestone in expanding the airline’s South Asian network while strengthening the Air Silk Route. He also highlighted that this is the only direct flight connecting Northern China with Sri Lanka and a key Capital-to-Capital air link, it added.
There was no word about the flight frequency and when the service will begin.
Ambassador Jayesinghe reiterated that Sri Lanka is more than a holiday destination and is positioned as an exotic, experienced-rich, year-round travel destination offering warm and pleasant weather. He emphasized that Sri Lanka, as a stand-alone destination, provides a blend of rich history, eight UNESCO heritage sites, diverse landscapes, pristine beaches, dense forests, and scenic mountains, inviting Chinese travellers to explore and enjoy Sri Lanka.
The commencement of the Beijing – Colombo route will contribute to the social and economic development of both countries. The Beijing- Colombo service has filled a longstanding gap in the aviation market and will further promote the economic, trade, cultural and tourism development, while offering more convenient travel options, the news release said.
Business
SLT-MOBITEL and Fintelex empower farmers with the launch of Yaya Agro App
SLT-MOBITEL Mobile, in collaboration with Fintelex (Pvt) Ltd, has launched ‘Yaya Agro’, an exclusive all-in-one smart agriculture app designed to empower Sri Lankan farmers with the tools they need to grow smarter, safer, and more sustainably.
Yaya Agro represents a new era of digital farming in Sri Lanka combining technology, expert knowledge, and community empowerment to provide farmers the confidence to make smarter decisions, improve productivity, and build a sustainable future.
Developed with support from GIZ and Hatch and validated by leading academic and professional institutions including the University of Colombo, Institute for Agrotechnology and Rural Sciences, and the Sri Lanka Red Cross Society, Yaya Agro combines agricultural expertise, real-time weather updates, first aid support, and AI-powered assistance into a single, easy-to-use platform.
The launch of Yaya Agro positions SLT-MOBITEL as an innovative, inclusive, and collaborative technology leader. Partnering technology and academic institutions, the company extends its role outside the sector into agriculture, empowering farmers with AI-driven tools, multilingual access, and market connectivity. The initiative also strengthens SLT-MOBITEL’s image as a champion of digital empowerment and sustainable development in Sri Lanka.
Functioning as a comprehensive digital companion, Yaya Agro is positioned as a digital farming companion, bringing precision agriculture, real-time support, and market access to the fingertips of every Sri Lankan farmer.
Whether managing a small home garden or a large commercial farm, the app equips farmers with vital insights to improve crop yield, reduce risks, and connect directly with buyers through the integrated online marketplace.
Yaya Agro offers farmers daily crop information with expert tips on management, pest control, and best practices, all validated by the University of Colombo. It provides accurate, location-based weather forecasts to help plan farming activities more effectively. The app also delivers life-saving first aid tutorials and safety information verified by the Sri Lanka Red Cross Society, ensuring farmers are prepared for emergencies. With the AI chatbot assistant, farmers can access instant, personalized advice around the clock, with smart notifications delivering timely alerts and reminders tailored to crop cycles.
To make learning inclusive and accessible, Yaya Agro is available in Sinhala, Tamil, and English, offering interactive educational content such as videos, voice guides, and infographics. The app also integrates an online marketplace, developed in partnership with GIZ and Hatch, enabling farmers to connect directly with buyers and expand their reach.
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