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CBSL decision to continue current monetary policy stance leads to profit-takings

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By Hiran H.Senewiratne

Profit- takings were noted in the stock market yesterday due to the Central Bank announcement that its Monetary Board had decided to continue the current monetary policy stance, market analysts said. Policy interest rates are to be maintained at their current levels, while measures are to be introduced to accelerate the reduction of market lending rates.

However, hotel sector counters witnessed buying interest after Central Bank Governor Dr. Nandalal Weerasinghe announced that tourist arrivals would increase and that the sector’s revenue will go up to US $ 2.3 billion from US 1.1 billion last year, market analysts added.

Amid those developments both indices moved downwards. The All- Share Price Index went down by 122.5 points and S and P SL20 declined by 55.5 points. Turnover stood at Rs 2.4 billion with five crossings. Those crossings were; Asia Hotel and Properties, whose 1.3 million shares crossed to the tune of Rs 59.5 million; its shares traded at Rs 53.50, Lanka IOC 500,000 shares crossed for Rs 57 million; its shares traded at Rs 114, Chevron Lubricants 600,000 shares crossed for Rs 57 million; its shares traded at Rs 95, Commercial Bank 490,000 shares crossed for Rs 44.1 million; its shares sold at Rs 90 and Melstarcope 500,000 shares crossed to the tune of Rs 39.5 million; its shares fetched Rs 79.

In the retail market top seven companies that mainly contributed to the turnover were; Capital Alliance Rs 329 million (4 million shares traded), Distilleries Rs 169 million (6.3 million shares traded), Aitken Spence Rs 136 million (909,000 shares traded), First Capital Rs 99.7 million (1.7 million shares traded), Ceylon Grain Elevators Rs 74.2 million (480,000 shares traded), HNB 66.5 million (371,000 shares traded) and Ceylon Hotels Corporation Rs 56.2 million (2.3 million shares traded). During the 74.7 million share volumes changed hands in 23000 transactions.

It is said high net worth and institutional investor participation was noted in CIC Holdings, JKH and Distilleries. Mixed interest was observed in Capital Alliance, Lanka IOC and Commercial Bank, while retail interest was noted in Marawila Resorts, Browns Investments and Pan Asia Banking Corporation.

The Diversified Financials sector was the top contributor to the market turnover (due to Capital Alliance), while the sector index lost 1.26%. The share price of Capital Alliance decreased by Rs. 8 to Rs. 84.00.

The Food, Beverage & Tobacco sector was the second highest contributor to the market turnover (due to Distilleries), while the sector index increased by 1.12 percent.Yesterday, the Central Bank’s US dollar buying rate was Rs 317.40 and selling rate Rs 329.81.



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Charting a worker-centered AI future: Colombo hosts landmark ITF conference

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The ITF’s first-ever AI-focused global conference and the first of its kind hosted in Sri Lanka

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.

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Bridging the digital divide: Sri Lanka’s airport licence challenge

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As tourism surges from digitally advanced markets like India, modern independent travelers arriving at BIA find themselves caught in a mismatch between cloudstored credentials and local paper-based transport protocols.

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.

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International Afro-Latin Dance Festival in Colombo to grow into a larger regional tourism draw

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Founder X Director – ALIF – J D RUBAN

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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