Business
CSE closes the week with an uninterrupted sequence of success
By Hiran H.Senewiratne
The Colombo Stock Exchange (CSE) yesterday kicked off with selling pressure on its shares. However, share trading bounced back later and crossed the 15,500 mark reaching yet another new milestone.
Obviously market activities were very positive due to the conclusion of debt restructuring process as well as the upgrading of ratings by the Rating Agencies, coincidentally just before the end of the year.
This has built up confidence in local and foreign investors thus giving them enough reason to expect the continuation of current positive economic trends, market analysts said.
Amid those developments both indices moved. The All Share Price Index up by 135.1 points while S and P SL20 up by 79.95 points. Turnover stood at Rs 9.8 billion with ten crossings.
Those crossings were reported in HNB, which crossed 7.5 million shares to the tune of Rs 2.2 billion and it’s share price traded at Rs 298, Seylan Bank 3.5 million shares crossed to the tune of Rs 245 million and its share price traded at Rs 70, LOLC Holdings 224,000 shares crossed to the tune of Rs 155 million and its share price traded at Rs 700, Hayleys Fabrics 2.4 million shares crossed to the tune of Rs 132 million and it’s share price traded at Rs 55, Commercial Bank 300,000 shares crossed to the tune of Rs 41.8 million and it’s share price traded at Rs 139.75, Eden Hotel two million shares crossed to the tune of Rs 34 million and it’s share price traded at Rs 17, DFCC 303,000 shares crossed to the tune of Rs 28.4 million and it’s share price traded at Rs 93.70, Sampath Bank 200,000 shares crossed to the tune Rs 24.50 and its share price traded at Rs 112.50, JKH one million shares crossed to the tune of Rs 22.3 million and it’s share price traded at Rs 22.30 and Maravila Hotels three million shares crossed to the tune of Rs 21 million and its share price traded at Rs 7.
In the retail market, top six performing companies that contributed to the turnover were LOLC Holdings Rs 511 million (738,000 shares traded), Commercial Bank Rs 403 million (2.8 million shares traded), HNB Rs 392 million (1.3 million shares traded), LMF Rs 306 million (6.6 million shares traded) DFCC Rs 303 million (3.1 million shares traded) and Browns Investments Rs 285 million (40 million shares traded) During the day 293 million shares volumes changed hands in 43000 transactions.
Business
Cost-effective clearance of goods across borders to determine worth of Customs Paperless Declaration
By Ifham Nizam
The introduction of the Customs Paperless Declaration from October 1 could mark an important step in Sri Lanka’s efforts to modernise trade, but its real value will depend on whether it reduces the time and cost of moving goods through the country’s borders, Customs House Agents & Traders Association President Mohamed Niyas said.
Niyas warned that digitising Customs declarations alone would not necessarily translate into faster cargo clearance or lower costs for businesses.
‘Expecting a dramatic improvement in clearance speed under the present conditions is like expecting Ferrari performance from a Morris Minor configuration, he said.
For importers and exporters, the issue extends well beyond paperwork. Every additional hour or day that cargo remains in the clearance chain can have wider consequences for businesses, including increased port and storage-related costs, additional working-capital requirements, uncertainty over delivery schedules and disruptions to production and distribution.
Niyas said the competitiveness of Sri Lanka’s trading sector ultimately depended on how efficiently goods could move through the country’s border-clearance system.
‘The real bottleneck is not merely the absence of paper. It is the entire clearance ecosystem—the limitations of the existing ASYCUDA World system, excessive regulatory interventions by Other
Government Agencies, multiple approvals, physical examinations, manual interventions, fragmented processes and institutional constraints, he said.
He cautioned that unless these bottlenecks were addressed, there was a risk that the paperless initiative would merely digitise existing bureaucracy.
‘If these underlying constraints remain unchanged, there is a real risk that the new paperless system could become another “copy-and-paste road show”—where an old, complex clearance process is simply transferred onto a digital screen without fundamentally changing the process itself, Niyas said.
For businesses dependent on imported raw materials, machinery, components and other inputs, clearance efficiency can directly affect the wider supply chain.
Delays at the border can create uncertainty for manufacturers, distributors and retailers, while exporters can face difficulties meeting delivery schedules when imported inputs or export consignments are held up.
Niyas therefore argued that the success of the October 1 initiative should be judged by its impact on trade flows rather than by the number of declarations processed electronically.
‘Paperless does not automatically mean faster, he said. ‘Digitising a slow process does not make the process fast. It only makes the slow process digital.’
He said Sri Lanka needed to move towards what he described as “process-less Customs”—a system in which unnecessary procedures are eliminated rather than simply converted into electronic procedures.
Among the reforms he called for are simplification of Customs declarations and approval workflows, improvements to the functionality of ASYCUDA World, greater use of risk-based inspections and better integration of Other Government Agency approvals.
Niyas also called for the elimination of repetitive document submissions and physical endorsements, greater use of pre-arrival processing, sufficient capacity for digital document uploads and clearly defined service-level timelines for Customs and OGAs.
Business
China backs Sri Lanka’s Non-aligned stance to counter regional pressures
By Sanath Nanayakkare
As global attention has fixed on the high-level diplomatic choreography at the United Nations General Assembly in New York, a subtler, yet profound geopolitical signal was sent from Colombo, yesterday.
In a major address marking the founding anniversary of the People’s Republic of China, newly appointed Chinese Ambassador Wei Huaxiang chose to anchor bilateral relations not just in modern trade or infrastructure, but in a shared respect for Sri Lanka’s legacy of non-aligned independence.
By explicitly invoking Sri Lanka’s foundational role in the 1976 Non-Aligned Summit, Beijing was doing something unexpected in an era defined by fierce great-power rivalry: it was officially validating a small island nation’s right to maintain an independent foreign policy stance.
The Strategic Value of Independence
For decades, nations caught in the crosshairs of major-power competition have faced intense pressure to pick sides. Yet, Ambassador Wei’s embrace of Colombo’s non-aligned tradition signaled a different diplomatic playbook. Instead of demanding alignment, Beijing was framing its partnership as a reliable counterbalance to regional pressures. By honouring Sri Lanka’s diplomatic autonomy, China was effectively reassuring smaller economies that sovereign independence and robust economic cooperation can coexist.
Beyond Ports and Industrial Zones
This diplomatic framing reframed the narrative surrounding major collaborative ventures like the Colombo Port City and Hambantota Port. While foreign analysts often view these projects exclusively through the lens of strategic rivalry, Beijing’s diplomatic messaging tied them back to a historical ethos of solidarity—evoking memories of the 1952 Rubber-Rice Pact.
By marrying economic projects with a stated respect for non-alignment, China is positioning itself as a steadfast stakeholder that respects Sri Lanka’s internal agency during difficult economic and political seasons.
As both nations look toward major milestones in 2027—including the 70th anniversary of diplomatic ties—this nuanced diplomatic move revealed how historic traditions are being leveraged to navigate modern multipolar realities.
For global observers, the takeaway was clear: in the shifting architecture of Asian geopolitics, respecting a nation’s historical neutrality may just be the most effective way to secure a lasting partnership, a diplomatic masterclass that Ambassador Wei Huaxiang executed in style.
Business
Sri Lanka Insurance Life appoints Dr. Sameera Dharmasena Chief Executive Officer
Sri Lanka Insurance Life (SLIC Life), the nation’s largest and strongest Life Insurer, is pleased to announce the appointment of Dr. Sameera Dharmasena as its new Chief Executive Officer, effective 22nd September 2026.
Dr. Dharmasena is a distinguished insurance professional with over 21 years of experience in the Sri Lankan insurance industry, having held senior leadership positions across several leading insurance companies affiliated with some of Sri Lanka’s largest business conglomerates. His extensive career spans both local and multinational insurance environments, bringing together broad industry expertise, strategic leadership and a strong commitment to the advancement of the insurance profession.
-
News6 days agoShanakiyan urges urgent action over reported death sentence for Lankan in Saudi Arabia
-
News5 days agoNamal Rajapaksa Buddhist gambit fails, bail denied
-
Features5 days agoWhy the spelling Sri Lankan names in English vary
-
Features5 days agoThree bands, a new identity: Sri Lankan wolf snake recognised as distinct species
-
Business5 days agoSLIIT holds largest-ever convocation
-
News5 days agoGovt monitors reported Saudi death sentence – Foreign Ministry
-
News5 days agoVehicle prices drop by up to Rs. 1 mn, says importers’ body
-
Business5 days agoAll-new Bolero MaXX Pik-Up unveiled in Lanka
