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‘CSE has bounced back, spurred by positives’

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By Hiran H.Senewiratne 

CSE has bounced back, encouraged by the positives and future upside, State Minister of Money and Capital Market and State Enterprise Reforms Ajith Nivard Cabraal said.

“The CSE has so much value as stocks are grossly under-priced. While it is true that foreign investors have sold out to the tune of over Rs. 30 billion, Sri Lankans have reinforced confidence by buying foreign holdings and it reflected the actual depth of the local investor base, “Cabraal told an investor forum titled “Twenty 21 and Beyond” organised by Softlogic Stockbrokers on Tuesday. He told capital market players that if they can succeed in securing 1 percent of a Rs. 10 trillion deposit base of banks and finance companies, the CSE will benefit by Rs. 100 billion in captive funds. “This is the true potential of the CSE, and stakeholders must harness it,” he said. Cabraal also recalled that even in its best effort, state funds such as the EPF, invested only Rs. 70 billion.

Amid those developments the CSE was bullish yesterday with heavy trading in the market. However, Expolanka which traded heavily during the last few days saw a price drop following its announcement they have no undisclosed price sensitive information in relation to Expolanka. Therefore, its stock price dropped by 30 cents during the day, sources said.

However, both CSE indices moved upwards; i.e, the All Share Price Index was up by 51.71 points and S and P SL20 up by 24.15. Turnover stood at Rs. 3.53 billion with six crossings.

Those crossings were reported in HNB, which crossed 26 million shares to the tune of Rs. 318 million, its share price trading at Rs. 123, CCS 126,000 shares crossed for Rs. 81.9 million, per share value Rs. 650.10, JKH 414,000 shares crossed for Rs. 56.3 million, per share value being Rs. 136, Central Finance 371,000 shares crossed for Rs. 29.3 million, per share value standing at Rs. 79, Melstacorp 700,000 shares crossed for Rs. 23.5 million at a per share value of Rs. 33.50 and DFCC 294,000 shares crossed for Rs. 20 million, per share value being Rs. 68.

In the retail market top five companies that mainly contributed to the day’s turnover were; Expolanka Rs. 465 (49 million shares traded), Tokyo Cement Rs. 165 million (3.3 million shares traded), Melstacorp Rs. 156.5 million (4.7 million shares traded), ACL Cables Rs. 154 million (three million shares traded) and JKH Rs. 151.6 million (1.1 million shares traded). During the day 85.1 million share volumes changed hands in  27759 transactions. 

During the day several companies, Tokyo Cement, Lanka IOC, Melstacorp, LMF and ACL Cables witnessed more than 9 percent gain in  their respective shares. During the day 169 companies’ shares prices moved up and only 55 companies’ prices depreciated.          

 Chevron Lubricants Lanka PLC has appointed Muhammad Najam Shamsuddin as  their new  Managing Director & CEO  with effect from October 1, 2020, stock market sources said.

 

 



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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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