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CSE indices fall to eight-week low; turnover slumps

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By Hiran H.Senewiratne

Both CSE indices fell to an eight-week low yesterday while the day’s turnover also slumped to the lowest since the last week of August amid highly volatile market sentiments as economic uncertainties over new tax hikes dented the appetite for risky assets, market analysts said.The market saw a turnover of Rs 1.3 billion, its lowest since August 29, and lower than this year’s average turnover of Rs 3.2 billion. Further, both indices moved downwards. The All- Share Price Index went down by 51.8 points and S and P SL20 declined by 7.7 points.

Turnover stood at Rs 1.3 billion with two crossings. Those crossings were reported in JKH, which crossed 500,000 shares to the tune of Rs 64.8 million, its shares traded at Rs 129.50 and CIC Holdings 300,000 shares crossed to the tune of Rs 30.9 million and its shares fetched Rs 103.

In the retail market top seven companies that mainly contributed to the turnover were; Lanka IOC Rs 341 million (1.7 million shares traded), CIC Holdings Rs 96.1 million (949,000 shares traded), Expolanka Holdings Rs 94.3 million (631,000 shares traded), JKH Rs 75 million (580,000 shares traded), CIC Holdings (non-voting) Rs 73.9 million (one million shares traded), Agsta PLC Rs 45.7 million (2.3 million shares traded) and Lankem Development Rs 42.9 million (1.2 million shares traded). During the day 527 million share volumes changed hands in 15000 share transactions.

According to stock market analysts the market moved to red yet again on the back of heavy selling of retail favourites LIOC and Expolanka, its daily note, referring to Sri Lanka private fuel retailer, Lanka IOC and market heavyweight Expolanka. Profit booking in LIOC intensified as investors expected further price reductions in fuel as the country intents to procure oil from Russia at a possibly lower price.

Analysts also said the market is going through a volatile trend as some investors are on a wait-and-see approach, while others are booking profits. Foreign investors have been mainly on the buying side since the IMF signaled positive for a US $2.9 billion; 4-year deal provided Sri Lanka fulfills some challenging conditions, including tax hikes.Yesterday the Central Bank- announced US dollar buying rate was Rs 360.73 and the selling rate Rs 371.24.



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EU’s new anti-greenwashing rules pose major challenge for Sri Lankan exporters

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This new directive applies to businesses across multiple sectors, of any size, that export products or services to the EU market.

Countdown to September 2026 begins

Sri Lankan exporters selling into Europe may soon face one of the most significant regulatory shifts in recent years as the European Union prepares to enforce sweeping new rules aimed at eliminating ‘misleading’ environmental and sustainability claims.

The regulation, known as the Empowering Consumers for the Green Transition Directive (EmpCo) – Directive (EU) 2024/825, will become fully enforceable across all EU member states from September 27, 2026. While the directive is primarily designed to protect European consumers from so-called ‘greenwashing,’ and it carries important implications for exporters worldwide, including those in Sri Lanka.

Compliance experts warn that many local businesses remain largely unaware of the new requirements despite their potential impact on market access, brand reputation, and regulatory compliance.

The directive introduces a simple but demanding principle: companies must be able to substantiate environmental and sustainability claims with credible evidence. Generic descriptions such as ‘eco-friendly,’ ‘green,’ ‘sustainable,’ ‘responsible,’ ‘carbon neutral,’ or ‘climate friendly’ may no longer be used freely unless they can be verified through reliable data and supporting documentation.

For Sri Lankan exporters, this represents a significant shift. Sustainability claims increasingly appear on product packaging, websites, social media campaigns, annual reports, tourism marketing materials, and corporate communications. Under the new framework, such claims could face scrutiny from regulators, consumers, retailers, and civil society groups.

The directive also places particular emphasis on future environmental commitments. Claims such as ‘Net Zero by 2040’ or ‘Carbon Neutral by 2030’ may require businesses to demonstrate clear implementation plans, measurable milestones, and systems for monitoring progress rather than relying on aspirational statements alone.

An environmental compliance expert told The Island Financial Review that this transforms sustainability from a communications exercise into a governance issue. “Responsibility will no longer rest solely with sustainability departments. Company directors, senior executives, marketing teams, procurement professionals, and compliance officers will all have roles to play in ensuring that public claims can withstand regulatory scrutiny. The potential costs of non-compliance are considerable. Under the directive, penalties may include fines of up to four percent of annual turnover generated within the relevant EU member state, restrictions on marketing activities, increased regulatory investigations, and challenges from consumer organisations and commercial partners.”

“The reputational consequences may prove even more damaging. In highly competitive export markets, trust has become a critical business asset. Companies found to be making unsubstantiated environmental claims could face long-term damage to relationships with buyers, retailers, and consumers.”

“The timing is particularly important for Sri Lankan businesses because compliance preparations, reporting frameworks and adjustments are needed before the enforcement date arrives.”

“Businesses supplying European markets are therefore being encouraged to begin assessing their exposure now rather than waiting until the last minute. Early preparation could help exporters safeguard market access, maintain buyer confidence, and strengthen their competitive position in an increasingly sustainability-conscious global economy.”

“For Sri Lanka’s export sector, the message from Europe is becoming increasingly clear: sustainability claims will no longer be judged by how compelling they sound, but by how convincingly they can be proven,” he said.

As the countdown to September 2026 begins, exporters may need to ask themselves a critical question: Are their sustainability claims ready for a new era of accountability?

By Sanath Nanayakkare

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University of West London opens Sri Lanka’s first full UK university branch campus

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The official signing ceremony between the University of West London, UK and ANC Education.

The University of West London (UWL) has formally opened the University of West London Sri Lanka Branch Campus, the country’s first full UK university branch campus, marking a landmark development in Sri Lanka’s higher education sector.

The University of West London Sri Lanka Branch Campus is designed to bring a UK university learning experience closer to students in Sri Lanka. The campus is operated by ANC Campus, a pioneer in the higher education sector in Sri Lanka with over two decades of experience in delivering internationally recognised education.

The University of West London Sri Lanka Branch Campus gives students the opportunity to study towards world-class UK degrees while remaining close to home. Academic delivery, assessment and quality assurance will be aligned with University of West London standards, with the University maintaining academic oversight of its courses and awards. Students will have access to UWL-approved programmes, academic support, learning resources and a campus environment designed to promote academic success, confidence and employability.

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Xiaomi Store powered by Abans opens at One Galle Face Mall

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Xiaomi Sri Lanka, marked a significant day in the brand’s local journey with the launch of the all-new Xiaomi 17T and the grand opening of the new Xiaomi Store powered by Abans at One Galle Face Mall, Lower Ground.

This occasion reflects the brand’s growing presence in the country and its commitment to bringing smarter technology, connected devices and immersive customer experiences closer to Sri Lankan consumers.

Held under the theme “Step into a smarter world with Xiaomi,” the launch event welcomed media, partners, technology enthusiasts and customers to experience Xiaomi’s latest innovation and wider smart ecosystem. The new store at One Galle Face Mall powered by Abans has been designed to give customers a hands-on experience across Xiaomi smartphones, smart home products, lifestyle technology and connected devices, supported by Abans’ strong retail presence and customer service network.

Commenting on the milestone, Kain Wang, Country Head, Xiaomi Sri Lanka, said, “17th June is a significant day for Xiaomi in Sri Lanka as we celebrate two important milestones together: the launch of the Xiaomi 17T and the opening of our new Xiaomi Store powered by Abans at One Galle Face Mall. This reflects the strength of Xiaomi’s journey in Sri Lanka and our continued commitment to offering innovation, performance and smarter lifestyle experiences to local consumers. With Xiaomi 17T, we are bringing advanced Leica imaging, powerful performance and long-lasting battery life to users who want to do more with their smartphones. At the same time, our new store creates a dedicated space for customers to experience the Xiaomi ecosystem in a more personal and engaging way.”

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