Connect with us

Business

China’s lack of commitment to solution in credit restructuring process seen as hampering CSE

Published

on

By Hiran H.Senewiratne

CSE trading was slow yesterday due to IMF comments on the Sri Lankan economy to the effect that key revenue targets, are yet to be fulfilled. Besides, the external credit restructuring process is yet to be concluded due to China not coming out with a solution, market analysts said.

Although the IMF negotiations are not all that negative in orientation, local and foreign investors are adopting a wait- and- see approach, market analysts said. It is said that the Paris Club, Non Paris Club and other external creditors have agreed to help Sri Lanka but China has not come out with a sustainable solution to Sri Lanka’s debt restructuring process, market analysts said.

Amid those developments both indices moved downwards. The All- Share Price Index went down by 183.43 points, while the S and P SL20 declined by 44.4 points. Turnover stood at Rs 686 million without any crossings.

In the retail market top seven companies that mainly contributed to the turnover were; JKH Rs 164 million (863,000 shares traded), Lanka IOC Rs 78 million (678,000 shares traded), HNB Rs 35.9 million (213,000 shares traded), Softlogic Capital Rs 20.3 million (1.8 million shares traded), Pan Asian Bank Rs 19.4 million (996,000 shares traded), Hayleys Fabrics Rs 19.2 million (406,000 shares traded) and Sampath Bank Rs 13.4 million (191,000 shares traded). During the day 23 million share volumes changed hands in 9600 transactions.

Yesterday the rupee opened at Rs 323.50/324.50 to the US dollar, from Wednesday’s close at 323.50/324.25, dealers said.

Bond yields were up. A bond maturing on 01.08.2026 was quoted up at 15.50/15.70 percent from Wednesday’s close at 15.50/65 percent. A bond maturing on 01.05.2028 was quoted at 14.50/14.80 percent up from 14.40/60 percent.



Business

DIMO KNIGHTS 2026 Reinforces a Culture of Recognition and Growth

Published

on

DIMO celebrated DIMO KNIGHTS 2026, recognizing employees whose exceptional dedication, leadership, innovation, and commitment continue to shape the organization’s success. More than an employee recognition event, DIMO KNIGHTS reflects DIMO’s unwavering commitment to cultivating a workplace where people are empowered to thrive, reinforcing the Employee Value Proposition of ‘Making Work Enjoyable and Rewarding’ while bringing its Corporate Purpose of Fuelling Dreams and Aspirations to life.

Held under the theme “Illuminating Leadership, Inspiring Achievement,” the event celebrated individuals who exemplify DIMO’s values and inspire excellence across the organization. By recognizing those who consistently go above and beyond, DIMO continues to foster a high-performance culture where people are empowered to innovate, lead, and create meaningful impact.

A highlight of the evening was the keynote address delivered by Mr. Ravi Kant, former Managing Director and Vice Chairman of Tata Motors India, who shared valuable insights on leadership, organizational transformation, and building resilient organizations capable of sustaining long-term success.

Commenting on the event, Ms. Dilrukshi Kurukulasuriya, Executive Director / Chief Human Resources Officer of DIMO, said: “Our Tribe is the driving force behind DIMO’s continued success. DIMO KNIGHTS is more than a celebration of outstanding performance; it is a reflection of the culture we strive to build every day. By recognizing and empowering our people, we reinforce our Employee Value Proposition of ‘Making Work Enjoyable and Rewarding’ while bringing our Corporate Purpose to life. When our people grow, innovate, and thrive, they create lasting value for our customers, partners, and the communities we serve.”

DIMO KNIGHTS reinforces the organization’s people-first philosophy by fostering a culture of appreciation, continuous learning, and purposeful leadership. The programme reflects DIMO’s conviction that when employees are empowered, recognized, and inspired to excel, they shape the future of the organization through innovation, collaboration, and sustained excellence, strengthening a high-performing culture that delivers lasting value, drives sustainable business success, and reinforces DIMO’s position as an employer of choice.

The evening recognized employees across a wide range of categories, celebrating outstanding performance, innovation, collaboration, customer focus, and leadership. The ceremony culminated with the presentation of the prestigious Innovator of the Year and Employee of the Year awards, with the Employee of the Year accolade presented to Mr. Chathura Gunasekera.

As DIMO continues to invest in developing exceptional talent, initiatives such as DIMO KNIGHTS reaffirm the organization’s belief that sustainable business success begins with its people. By creating an environment where individuals are recognized, empowered, and inspired to achieve their full potential, DIMO continues to cultivate a purpose-driven, high-performing workforce that is equipped to shape the future of the organization while delivering lasting value to all stakeholders.

Continue Reading

Business

Sri Lanka’s lifestyle coffee culture boom and the two faces of its economy

Published

on

Cutting the cake for outlet number 100 - a symbol of urban commercial revival set against a backdrop of wider household economic recovery.

By Sanath Nanayakkare

On Baseline Road in Colombo, Barista Coffee recently opened its 100th outlet. For a modern café culture spreading across shopping centers, office districts, and provincial towns, this milestone is a major commercial success. It shows a thriving urban service sector and a growing class of lifestyle consumers who use coffee shops as places to work, socialise, and meet.

This is a curious new picture emerging from Sri Lanka’s post-crisis economic recovery: the coffee cup is getting bigger, even as the household tea cup tells a very different story.

Yet, looking past the espresso machines, a different reality unfolds in the country’s kitchens.

International financial institutions note that while Sri Lanka’s macro-economy is recovering, household welfare and employment remain below pre-crisis levels. Poverty rates sit at roughly double what they were in 2019, and food prices doubled over a three-year span, forcing families to cut back on essentials.

This creates a striking local paradox, especially given Sri Lanka’s proud heritage as a global tea producer. While the world pays top dollar for Ceylon Tea, local market studies and industry reports have long pointed out an unfortunate disparity: many ordinary families find high-quality tea too expensive, often settling for lower-grade alternatives at home.

The growth of a 100-outlet coffee network does not mean prosperity has spread evenly across the island. Instead, it proves that there is a specific, well-resourced segment of consumers with the purchasing power to sustain a premium lifestyle economy, even as many other households carefully calculate the cost of everyday groceries.

Barista’s 100th store is not a bad-news story; it is a testament to acute entrepreneurial grit, shifting consumer behavior, and the vital revival of the nation’s urban service sectors. But it serves as an uncompromising reminder that macroeconomic stabilisation is not synonymous with household recovery.

As Colombo’s coffee culture looks toward its next hundred outlets, the true pulse of the nation’s economic health will not be measured by the espresso machines humming in sleek urban hubs, but by the quiet arithmetic happening in millions of kitchens beyond its doors – where the fundamental question remains whether a family can comfortably afford a better cup of Ceylon Tea.

Continue Reading

Business

Aitken Spence Hotel Holdings Rs. 5 billion debenture issue oversubscribed on opening day

Published

on

Aitken Spence Hotel Holdings PLC announced that its maiden listed, rated, unsecured, senior

redeemable debenture issue was oversubscribed on its opening day, 15th September 2026.

The Company sought to raise Rs. 3 billion through an initial issuance of 30 million debentures at Rs.

100 each, with an option to issue a further 20 million debentures in the event of oversubscription of the initial issue, increasing the total issue size to Rs. 5 billion.

The Company said it had received applications for more than 50 million debentures, the full amount on offer, prompting the issue to close at 4:30 p.m. on the opening day (15).

The basis of allotment will be announced to the Colombo Stock Exchange as per regulatory requirements in due course.

Continue Reading

Trending