Business
CSE gains 4 per cent within first hour of trading; turnover hits Rs. 2.7 billion
By Hiran H. Senewiratne
The CSE gained 4 per cent within the first hour of trading yesterday, a day after the new Prime Minister Ranil Wickremesinghe addressed the country on its ongoing economic crisis. Stock market analysts opined that the address impacted the CSE positively.
Buying interest was noted in most counters, especially blue- chip ones. Prime Minister Wickremasinghe has now turned to Japan for a fresh financial relief package amounting to between US$ 3.5 billion and US $5 billion and this development too is perceived by market analysts as buoying the market to a degree.
The main All- Share Price Index gained 3.87 per cent or 313.31 points to reach 8,411.72 as at 11.31 am. The most liquid index S and P SL20 shot up 5.27 per cent to 140.31 points to reach 2,802.62. Later it settled at the 157.2 level.
Market turnover stood at Rs 2.7 billion with a single crossing. The crossing was reported in HNB, which crossed 897,000 shares to the tune of Rs 2.7 billion, its shares traded at Rs 82.50.
Expolanka Holdings, JKH and LOLC were the main contributors to the index. In the retail market, top seven companies that mainly contributed to the turnover were; Expolanka Rs 851 million (3.9 million shares traded), Browns Investments Rs 365 million (47.7 million shares traded), LOLC Finance Rs 230 million (24.9 million shares traded), Softlogic Life Insurance Rs 127.5 million (1.9 million shares traded), Softlogic Capital Rs 107 million (13.7 million shares traded), LOLC Holdings Rs 78.1 million (142,000 shares traded) and Royal Ceramic Rs 53 million (1.5 million shares traded). During the day 177 million share volumes changed hands in 30,000 share transactions.
Yesterday, commercial banks quoted the US dollar at Rs 365 against telegraphic transfers, while the Central Bank set a daily guidance rate for interbank spot trade for Rs. 359.75, plus or minus 2.50.
Banks could quote Rs 2.50 plus or minus under the new direction and the rate is set below the market rates. The Central Bank stopped quoting day rates on January 23 when the rupee was floated with an interest rate correction after the soft peg collapsed. In 2021 the Central Bank started enforcing a rate incompatible with the policy rate at around 203 to the US dollar.
Business
IceWarp expands into Sri Lanka, fostering European innovation in collaboration with FentonsIT
IceWarp, a global leader in business communication solutions, has officially launched its cutting-edge platform in Sri Lanka, bringing European expertise in email and collaboration solutions to support the country’s evolving business landscape.
This expansion is driven by a strategic partnership with Fentons Information Technology (FIT), the Information Technology arm of Hayleys Fentons Limited.
The grand launch event held at The Kingsbury Colombo on 4th April, 2025, was graced by several distinguished guests, including Chief Guest Mohan Pandithage, Chairman and Chief Executive of Hayleys PLC.
The presence of Adam Paclt, Global CEO of IceWarp, and Pramod Sharda, CEO for India and the Middle East of IceWarp, along with their global team, highlighted the significance of this expansion. Industry experts, government officials, corporate leaders, and CIOs from the banking, financial services and insurance sectors were in attendance as well, reflecting strong local interest in IceWarp’s European expertise.
With this launch, Sri Lankan businesses now have access to an affordable, scalable and secure alternative to Microsoft 365 and Google Workspace. IceWarp’s advanced Collaboration Suite integrates a wide range of tools into a single, unified platform designed to streamline communication and boost productivity. Offering flexible hybrid deployment options and cost-efficient solution, IceWarp enables organisations to optimise their operations without compromising security or functionality.
Eventistry Sports, a trailblazer in innovative sporting events, has unveiled the Sri Lanka Padel League (SLPL), the nation’s first franchise-based padel tournament, set to debut in June 2025. This groundbreaking league promises to redefine Sri Lanka’s sports landscape by creating a dynamic national platform for athletes while fostering unity among fans, brands, and communities.
The SLPL will showcase six franchise teams, each embodying the spirit of iconic Sri Lankan locales: the Colombo Chargers, Yala Rangers, Hikkaduwa Riders, Ella Hawks, Arugambay Vipers, and Trinco Warriors. These teams will not only ignite regional pride but also unite the country through a shared passion for padel—a fast-paced racquet sport merging tennis and squash, played on enclosed courts.
“The SLPL is more than a league; it’s a movement,” declared Karin Wijeratne, Director of Eventistry Sports. “By blending franchise sports with Sri Lanka’s vibrant culture, we’re creating a platform where players gain national recognition, fans rally behind their hometown heroes, and brands engage with communities in meaningful ways.”
The league’s launch on June 21–23, 2025, at Colombo’s Padel House courts (CR&FC) will kick off with three days of high-octane matches, preceded by a star-studded player auction on May 16th at The Vault, Colombo City Centre. Local talent—both professional and intermediate—will be drafted by franchise owners, with international registrations now open to elevate the competition’s global appeal.
Please log in to: www.slpadelleague.com and social media: @SriLankaPadelLeague (Facebook & Instagram) for more information.
Ceylon Energy and HJT China have successfully completed the Mahiyangana-Kappalthurei 33kV power distribution lines and the Uhana Gantry as part of Sri Lanka’s Supporting Electricity Supply Reliability Improvement Project (SESRIP). Funded by the Asian Development Bank ($42 million), SESRIP aims to expand energy access in underserved regions, including conflict-affected areas and provinces like Uva and North Central.
The project’s infrastructure spans over 270 km of 33kV lines, 13 switching gantries, and 2,372 km of low-voltage extensions.
The projects connect 35,000+ households and improve reliability for 493,000+ consumers; integrates renewables to reduce losses.
The projects’ notable components include: Mahiyangana-Bibila Line: 36 km with 147 steel towers and Kappalthurei-Sixth Mile Post Line: 14 km with 58 towers.
Ceylon Energy Chairman Madushanka Fernando hailed it as a ‘new beginning of a brighter era’, emphasising the project’s role in uplifting rural communities and driving sustainable development.
The initiative underscores Sri Lanka’s commitment to inclusive, reliable energy and climate resilience.
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