Business
Bourse welcomes February on feeble note; profit-takings in blue chips
By Hiran H.Senewiratne
The CSE began February on a feeble note with both indices down, despite a healthy turnover level. Yesterday the stock market commenced its daily trading on a negative note and that trend continued until the end of the day, with massive profit-takings noted in blue chip companies, especially the Softlogic Group of companies and Expolanka holdings, market analysts said.
According to market analysts, following a moderate gap of 79 points, the ASPI reversed course due to price declines in index-heavy counters and traded negative for the rest of the session to close with a loss. On similar lines, the more liquid S&P SL20 index also trended downwards on price declines.
The All- Share Price Index went down by 338 points and S and P SL20 declined by 151 points. Turnover stood at Rs 8.9 billion with four crossings. Those crossings were reported in Ceylinco Insurance, which crossed 100,000 shares to the tune of Rs 145 million and its shares traded at Rs 1450, Melstacorp 500,000 shares crossed to the tune of Rs 29.5 million, its shares traded at Rs 59, LOLC Finance 800,000 shares crossed for the tune of Rs 22.4 million, its shares fetching Rs 28 and Softlogic Life Insurance 120,000 shares crossed for Rs 21.6 million, its shares trading at Rs 180.
In the retail market top seven companies that mainly contributed to the turnover were, Expolanka Holdings Rs 2.2 billion (6.9 million shares traded), Softlogic Life Insurance Rs 854 million (5.2 million shares traded), LOLC Finance Rs 564 million (20.3 million shares traded), Browns Investments Rs 420 million (35.3 million shares traded), Softlogic Capital Rs 407 million (23.3 million shares traded), Renuka Agri Foods Rs 342 million (44.5 million shares traded) and Melstacorp Rs 338 million (5.7 million shares traded.
During the day price depreciations were reported in the Softlogic Group of companies, which resulted in other blue-chip companies witnessing heavy selling pressure. Softlogic Life Insurance share price depreciated by Rs 41.50 or 23 per cent. Its share price moved down to Rs 141.50 from Rs 183, Softlogic Capital share price depreciated by 15 per cent or Rs 2.80. Its share price went down to Rs 15.80 from Rs 18.60 and Softlogic Holdings share price fell by Rs 4 or five per cent. Its shares started trading at Rs 70.10 and at the end of the day they moved to Rs 66.`10.
The stock market company with the highest market capitalization, Expolanka Holdings share price depreciated by Rs 30.50 or 9 per cent. Its share price fell to 314.50 from Rs 345. LOLC shares also saw a price drop. Its share price dropped by Rs 75 or six percent. Its share price depreciated to 1118.50 from Rs 1193.50. During the day 262 million share volumes changed hands in 67000 transactions.
It is said high net worth and institutional investor participation was noted in Vallibel One, Softlogic Holdings and JAT Holdings. Mixed interest was observed in Softlogic Life Insurance, Expolanka Holdings and Lanka IOC, while retail interest was noted in Softlogic Capital, Renuka Agri Foods and Browns Investments.
The Insurance sector was the top contributor to the market turnover (due to Softlogic Life Insurance), while the sector index lost 2.55 per cent. The shares of Softlogic Life Insurance lost Rs. 41.50 to close at Rs. 183. The Food, Beverage and Tobacco sector was the second highest contributor to the market turnover while the sector index decreased by 1.44 per cent.
Yesterday the US dollar was quoted at 202.45, which was the Central Bank controlled price. The actual market price is more than Rs 250, market sources said.
Business
Shark and Ray Karawala
When we buy shark dry fish (Mora Karawala), do we really know what species we are consuming? What if endangered sharks are hiding in our meal? Most consumers are unaware.
In Sri Lanka, dried fish is more than food; it is a flavour, a tradition and a way of life. Affordable, long-lasting, and rich in taste, it has become a staple across the island, mainly in rural communities, the dry zone, and hill country. While most fish are eaten fresh, about 14% of the catch is preserved through age-old methods, such as salting, sun drying, smoking and fermentation. Whether served as a main dish (Karawala) or as a flavourful condiment (Umbalakada), dried fish has secured a special place on Sri Lankan plates.
Today, nearly two-thirds of the demand for dry fish is met locally, with dried sharks being the most common and popular in markets. And many people believe that milk sharks are particularly nutritious for lactating mothers.
Typically, part of the excess fish supply in peak seasons, fish arrive late from multiday fishing boats, fish from the bottom of nets, fish that are susceptible to quick spoilage or have low market appeal, are used to produce dry fish rather than letting this resource go to waste. In many coastal villages, drying fish is carried out at the fishing “waadi” (fishing villages/houses) level, often led by women as a means of earning supplementary income.
- Salting (not an elasmobranch
- Cutting rays into pieces prior to salting
But this comes with a cost. Sharks and Rays are slow-growing, late maturing and producing only a few young cannot keep up with rising demand. Sharks and Rays are captured by large-scale artisanal fisheries and often retained as bycatch. Mainly exploited for their meat and other derivatives, including gill plates, fins, and skins. Overfishing has pushed their populations into serious decline.
In Sri Lanka, over 60–70% of shark and ray species are threatened with extinction according to the IUCN Red List, with many others listed as Data Deficient — meaning their true status may be even worse. Only a handful of species might be considered less at risk, but even those assessments are uncertain.
Once dried, it becomes nearly impossible to identify which species are being sold. Drying removes distinguishing features, making it impossible to verify the species or ensure sustainability. Labelling is virtually non-existent, and consumers have no reliable way to tell which species they are purchasing.
This means endangered sharks are likely ending up on plates across the country — without anyone realising it. Given the high proportion of threatened species and the lack of transparency, the safest and most responsible choice is to avoid all shark-based dried fish entirely.
By choosing alternative dried fish products made from more sustainable species, we can protect Sri Lanka’s marine biodiversity and ensure that our cultural traditions remain part of a future where sharks still swim in our oceans.
About the Author:
Apsara Rupasinghe, a zoologist with a BSc (Hons) Degree in Zoology, is pursuing MPhil research on shark and ray genetics at BRT-FiPo, with a background in conservation genetics and population genetics. Her work involves combining genetics and conservation to improve species identification and protect endangered elasmobranch species. Apsara pays special attention to the dry fish industry in Sri Lanka as part of her research.
by Apsara Rupasinghe
(Researcher, Fisheries and Policy Programme, Blue Resources Trust)
Business
SPAR Sri Lanka opens first Kandy outlet, redefining modern retail in hill capital
SPAR Sri Lanka marked a significant milestone with the opening of its 12th outlet—its first in the historic city of Kandy and only the second outside the Western Province. Established in 2018 as a joint venture between SPAR South Africa Group and Ceylon Biscuits Limited, SPAR Sri Lanka combines global expertise with strong local roots.
Speaking at the launch, CEO of SPAR Sri Lanka highlighted the cultural and commercial significance of Kandy, noting that the brand’s aim is “not just to open a store, but to serve the community in a meaningful and relevant way.”
The Kandy outlet offers over 6,200 products, with nearly 3,900 locally sourced, supporting farmers, producers, and SMEs, while the remaining range includes imported SPAR international brands. Innovative features such as a dedicated pet care section, TOPs liquor store, pharmacy, and banking facilities create a one-stop lifestyle destination.
SPAR Sri Lanka is also fostering youth employment and professional development, providing structured training programs to equip staff with globally recognised retail skills. The store has created over 50 jobs in the region and supports local suppliers in meeting international standards, opening doors for broader market access.
With its SPAR2U online platform and SPAR Rewards app, customers can enjoy convenience and value, while the company’s ecosystem approach supports retailers, suppliers, and communities alike. The brand’s next expansion is scheduled in Kurunegala, underscoring SPAR Sri Lanka’s vision of reshaping retail while uplifting local economies.
Text and Pic By S.K Samaranayake
Business
Sri Lanka Insurance Life Honoured at Great Managers Awards, Becoming First SOE to Achieve this Recognition
Sri Lanka Insurance Life (SLIC Life) was recognised at the prestigious ‘Great Managers Awards 2025’, held on 26th March 2026 at Cinnamon Grand, Colombo, marking a significant milestone as the first State-Owned Enterprise (SOE) to receive this recognition.
Organised by CLA Coaching in collaboration with the Colombo Leadership Academy, the awards recognise organisations and individuals who demonstrate excellence in leadership and managerial effectiveness, benchmarked against global best practices through a rigorous evaluation process.
Sri Lanka Insurance Life was recognised under the category of ‘Companies with Great Managers’, reflecting its commitment to nurturing leadership talent and building a culture that supports sustainable performance and people development.
Several SLIC Life team members were also honoured across multiple categories, highlighting the depth of leadership within the organisation. Duminda Pieris, Assistant General Manager/Zonal Head, was recognised for Driving Results and Execution Excellence, while Chaminda Athauda, Deputy General Manager – Life, received recognition for Aligning Organisational Vision. Jagath Welgama, Deputy General Manager – National Sales, and Manjula Darmaprema Branch Manager – Pilimathalawa were acknowledged for Building Team Effectiveness and Collaboration. Amali Gomez, Manager – Corporate & Marketing Communications, was recognised for Integrality and Holistic Approach. Ruchira Edirisinghe, Brand Manager, and Uththara Kapugamage, Manager – Employee Engagement, were both recognised as Great Millennial Managers.
Commenting on the achievement, Nalin Subasinghe Chief Executive Officer of Sri Lanka Insurance Life stated: “We are truly humbled and honoured to be recognised at the Great Managers Awards 2025, especially as the first State-Owned Enterprise to receive this accolade. This achievement is a testament to the strength, dedication, and professionalism of our team, who continue to demonstrate exceptional leadership across all levels of the organisation. We take great pride in this collective success.” He further added, “We also commend this initiative for its role in encouraging organisations to nurture and develop future leaders. Platforms such as these are vital in shaping strong leadership cultures that drive sustainable business success and industry-wide progress.”
This recognition underscores Sri Lanka Insurance Life’s ongoing commitment to developing its people, strengthening leadership capabilities, and fostering a high-performance culture that contributes to long-term organisational success.
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