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China’s delay in consenting to restructuring seen as the only hurdle to IMF bailout

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By Hiran H. Senewiratne

China’s delay in agreeing to a debt restructuring is the only remaining hurdle on the path to Sri Lanka obtaining the IMF bailout, market analysts said.

Amid those developments both indices moved upwards. The All- Share Price Index went up by 64 points and S and P SL20 rose by 31.6 points. Turnover stood at Rs 2.4 billion with four crossings. Those crossings were reported in Melstacorp, where 668,000 shares crossed to the tune of Rs 40 million; its shares traded at Rs 60, Sampath Bank 500,000 shares crossed for Rs 24.5 million and its shares traded at Rs 49, Access Engineering 1.75 million shares crossed for Rs 21 million and its shares traded at Rs 12 and JKH 151,000 shares crossed to the tune of Rs 20.8 million; its shares fetching Rs 137.30.

In the retail market top companies that mainly contributed to the turnover were Sampath Bank, Rs 199 million (four million shares traded), Melstacorp Rs 142.7 million (2.3 million shares traded), Ceylinco Insurance Rs 131 million (60000 shares traded), Lanka IOC Rs 112 million (565,000 shares traded), SLT Rs 49.8 million (610,000 shares traded) and Hela Apparel Rs 47.1 million (five million shares traded). During the day 69.5 million share volumes changed hands in 18000 transactions.

Further, indices closed in the green as a result of price gains in counters, such as, Sampath Bank, Hatton National Bank and Commercial Bank.

It said high net worth and institutional investor participation was noted in Sampath Bank, JAT Holdings, and Hemas Holdings. Mixed interest was observed in Sri Lanka Telecom, Aitken Spence and Melstacorp, while retail interest was noted in Amana Bank, SMB Leasing voting & nonvoting and Browns Investments.

The Capital Goods sector was the top contributor to the market turnover (due to Hemas Holdings and Aitken Spence) while the sector index gained 0.25 per cent. The share price of Hemas Holdings increased by Rs. 1.40 (2.24 per cent) to Rs. 64. The share price of Aitken Spence gained by 50 cents to reach Rs. 150.

The banking sector was the second highest contributor to the market turnover (due to Sampath Bank), while the sector index increased by 8.00 per cent. The share price of Sampath Bank gained Rs. 4.80 (10.86 per cent) to reach Rs. 49.00.

Sri Lanka Telecom and Melstacorp were also included among the top turnover contributors. The share price of Sri Lanka Telecom moved up by Rs. 7.70 (10.74 per cent) to Rs. 79.40. The share price of Melstacorp appreciated by 1 rupee to Rs. 58.10.

Separately, Nestle Lanka announced its first and final dividends of Rs. 55 and Rs. 75 per share respectively.

Yesterday, the Central Bank’s US dollar buying rate was Rs 359.97 and the selling rate Rs 369.31.



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Monaragala wilting under the scorching impact of climate change

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The CEJ team ascertaining Monaragala’s ordeals at first hand

Sri Lanka’s agricultural backbone, the Monaragala District, is buckling under the weight of climate change, according to the Centre for Environmental Justice (CEJ). Executive Director, Dilena Pathragoda, speaking to The Island Financial Review said that their study outlines a stark warning that the district’s economic survival is in grave danger unless urgent action is taken.

Speaking on the findings of a new study, he stated, “The impacts of climate change are no longer distant predictions. They are happening here and now; devastating crops, livelihoods and the economic lifeblood of Monaragala.”

The report paints a worrying picture. Monaragala, traditionally a region reliant on rice, sugarcane and seasonal crops, is seeing shifts in temperature and rainfall that severely disrupt agricultural activities. The district’s average temperature has already risen by one degree Celsius over the past four decades, a trend that is expected to accelerate. Future climate projections suggest that, without substantial mitigation efforts, the region could experience temperature increases that make traditional farming almost impossible during key growing seasons.

Rainfall, once predictable and sufficient to sustain farming cycles, is becoming increasingly erratic. Extended dry spells and unseasonal rains are throwing planting schedules into chaos. The report notes that the first inter-monsoon and Northeast monsoon periods, critical to both paddy and seasonal crop cultivation, are seeing decreased rainfall in key areas. This reduction is contributing to an alarming depletion of groundwater and reservoir levels, threatening both crop irrigation and drinking water supplies.

Pathragoda emphasized that the economic consequences of these changes are already being felt. Farmers, particularly in areas like Siyambalanduwa and Buttala, are struggling to maintain their livelihoods. Loss of crops not only reduces household incomes but also increases food insecurity and triggers wider economic instability. With agriculture employing a significant majority of Monaragala’s working population, the ripple effects of climate failures are profound, reaching into every sector from local markets to transportation and small industries.

Compounding the issue is the poor state of local irrigation systems. According to the study, many of the district’s small and medium-scale tanks, once critical sources of irrigation, have been abandoned or fallen into disrepair. Water shortages have led to fierce competition among farmers and the need to adopt costly alternatives, such as deep-well pumping systems, is pushing many into debt. Meanwhile, the lack of access to drought-resistant crop varieties and modern water conservation technologies is leaving the majority of smallholder farmers dangerously exposed.

The Centre for Environmental Justice is calling for an immediate, coordinated response. Pathragoda insists that restoration of water storage infrastructure, adoption of climate-resilient agriculture techniques and the empowerment of local farming communities must become national priorities. He pointed out that the survival of Monaragala’s economy, and indeed its social stability, depends on whether these adaptation measures are rolled out quickly and effectively.

“The time for abstract discussions is over,” Pathragoda said. “We must bring national policies down to the village level, equipping farmers with real tools to adapt and survive. Otherwise, we risk witnessing an irreversible collapse not only of livelihoods but of entire communities.”

The situation in Monaragala serves as a grim warning for other districts in Sri Lanka. Without decisive action, the economic heart of rural Sri Lanka could wither under the harsh new realities of a changing climate, leaving devastation in its wake.

By Ifham Nizam

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HUTCH expands digital onboarding for customers via Singer branch network

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In a move to accelerate digital transformation and enhance customer convenience, HUTCH has expanded its ongoing partnership with Singer, Sri Lanka’s foremost consumer durables retailer, to enable wider access to eSIM technology and offer a digitally streamlined onboarding for mobile users across the country.

This fully digital onboarding model ensures a swift, paperless experience eliminating manual processes and repeat visits. Whether activating an eSIM in-store or obtaining a standard physical SIM, customers can now enjoy a seamless journey that reflects the ease and efficiency of today’s digital lifestyle.

The process is designed to be fully digital and effortless. Upon scanning the in-store QR code with their smartphone, customers are directed to a HUTCH digital platform where they can either activate an eSIM instantly or complete a quick form to request a physical SIM to your doorstep. This eliminates the need for return visits, paperwork, or manual handling, ensuring a frictionless onboarding experience that meets the expectations of today’s connected consumers.

Beyond accessibility and affordability, this partnership introduces a new era of customer-centric mobile service delivery. Customers no longer need to visit different locations to purchase a smartphones and obtain a mobile connection. HUTCH and Singer collaboration has brought the full experience under a single roof. By combining HUTCH’s advanced connectivity solutions with Singer’s island-wide retail presence, the partnership offers a one-stop destination for mobile needs, streamlining the journey from device purchase to network activation.

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Panthera Styles expands operations with grand opening at Colpetty

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Panthera Styles officially opened its newest branch in Colombo 3, marking another milestone in its journey of redefining fashion in Sri Lanka. The new store was ceremonially declared open by Panthera Styles Founder Wathsala Aththanayake, her husband Channa Gunawardana, family members, popular social media influencers and other special invitees.

The new store, conveniently located at 4B Bagatalle Road, Colombo 3, reaffirms Panthera Styles’ commitment to redefining everyday style – making premium fashion more accessible, exciting, and always ahead of the curve. Shoppers can expect a carefully curated mix of statement pieces, timeless essentials, and on-trend designs that embody the spirit of contemporary living. To celebrate this latest milestone, Panthera Styles is offering customers of all three stores the chance to enjoy exclusive opening promotions and special discounts.

Expressing her views on the new store opening, Wathsala Aththanayake stated, “Everyone here at Panthera Styles are proud to enter an exciting new chapter with the opening of this new store, located in the heart of one of the city’s most vibrant shopping destinations. Our two outlets at Pelawatte and Kirulapone have already built a loyal base of customers seeking newest collections, featuring must-have styles for the modern wardrobe. The new store, with its elegant and modern interior, has been designed to offer a seamless and elevated shopping experience. I invite all customers to step into a world of elegance, trendsetting styles, and timeless pieces – all curated just for you.”

Panthera Styles’ three stores and its online store pantherastyles.com provides a wide range of casual dresses, office wear, party wear, footwear, linen, fragrances as well as their unique Trusted by Panthera brand of CSR-focused items. Trusted by Panthera was created with a powerful mission: to uplift and empower female artisans from underprivileged communities. By providing a platform to showcase their creative talents, the initiative seeks to transform lives through opportunity and recognition. Each handcrafted treasure, such as jewellery, accessories, bags, wallets, or home décor, is a reflection of the artisans’ skill, passion, and talent. Trusted by Panthera goes beyond commerce – it is a movement that champions female empowerment, encouraging women to achieve financial independence, build confidence, and create sustainable livelihoods.

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