Business
CSE indices reach all-time high; market resumes bull run
By Hiran H.Senewiratne
The CSE yesterday began on a positive bullish note with sharp gains in both indices, propelling them to an all – time high amid robust turnover. It is said that the All-Share Price Index reached the 11796 mark or 116 points, stock analysts said.
With the extending of the import restrictions in the recent budget, local manufacturing sector counters noted some positive gains, especially in the tile sector. Amid those developments, throughout the day, the stock market was positive and the rally was driven by Expolanka Holdings, which surpassed Rs 700 billion with Rs 737 billion in market capitalization, which accounts for 14 per cent of the overall market capitalization in the CSE, analysts said.
The Expolanka share price appreciated by Rs 26.75 or eight points. Its share price shot up to Rs 377 from Rs 300.25, thus contributing 117 points to the All- Share Price Index. Profit- takings were witnessed in LOLC Group of companies but did not happen in a significant manner, market analysts added.
The All- Share Price Index gained by 2.00 per cent or 116 points and the S&P SL20 shot up by over two per cent or 48.6 points. Turnover improved to Rs. 8.5 billion, involving a whopping 533 million shares with five crossings. Those crossings were reported in Chevron Lubricants, which crossed 277,000 shares to the tune of Rs 38 million and its shares traded at Rs 108, Expolanka Holdings 80000 shares crossed to the tune of Rs 28.6 million; its shares traded at Rs 358, Resus Energy 750,000 shares crossed for Rs 26.6 million; its shares fetched Rs 35, Lanka IOC 600,000 shares crossed for Rs 23.8 million and its shares traded at Rs 39.70 and Windforce 1.3 million shares crossed for Rs 23.3 million, its shares traded at Rs 18.70.
In the retail market five companies that mainly contributed to the turnover were; Expolanka Holdings Rs 1.8 billion (4.9 million shares traded), Browns Investments Rs 635 million (44.7 million shares traded), Resus Energy Rs 457 million (12.6 million shares traded), ACL Cables Rs 358 million (3.5 million shares traded), Hayleys PLC Rs 335 million (2.8 million shares traded), Vallibel One Rs 322 million (four million shares traded) and LOLC Holdings Rs 322 million (273,000 shares traded).
It is said the Capital Goods sector was the top contributor to the market turnover (due to Brown & Company), while the sector index gained 2.11 per cent. Transportation sector was the second highest contributor to the market turnover (due to Expolanka Holdings), while the sector index increased by 3.47 per cent. During the day 533 million share volumes changed hands in 58000 transactions.
Moreover, Kapruka and Co-operative Insurance will go for IPOs. Kapruka will start their initial offering to the public on December 22. The company will issue 32.8 million shares at a share value Rs 15.40 to raise Rs 5.5 million. With those funds they expect to expand, develop and upgrade infrastructure while launching a Kapruka digital platform. Co-operative Insurance will issue 166 million shares at a share price of Rs 3.60 to raise Rs 600 million. The objective of the IPO would be to expand and strengthen the asset portfolio, digital transformation of the business by leveraging IT and to construct a salvage yard at Ja-ela.
Yesterday, the US dollar rate was quoted at Rs 201.87, which was the controlled price set by the Central Bank to prevent price escalations in imported essential items. This artificial price suppression could negatively impact the economy. But a US $ one billion worth swap by the Indian government will give some economic relief in the short term, analysts said.
Business
Ceylon Chamber Re-elects Chairperson Krishan Balendra at 187th AGM
The Ceylon Chamber of Commerce announced the re-election of Chairperson Krishan Balendra and the election of its Board for the Year 2026/27 at the Chamber’s 187 th Annual General Meeting on June 25. High Commissioner of Britain to Sri Lanka, Andrew Patrick, attended as Chief Guest.
The 2026/27 office-bearers are Chairperson Krishan Balendra, – Chairperson John Keells Holdings PLC, Vice Chairperson Bingumal Thewarathanthri – CEO, Standard Chartered Bank Sri Lanka, and Deputy Vice-Chairperson Vinod Hirdaramani – Chairman, Hirdaramani Group.
Jayanthi Dharmasena – Managing Director, Hayleys Agriculture Holdings Ltd., Kasturi Chellaraja Wilson – Chief Operating Officer, Head of APAC – 5Hour International Corporation Singapore, Shibani Thambiayah – Managing Director, Renuka Hotels PLC,Supun Weerasinghe – Director/Group CEO – Dialog Axiata PLC, and Shiran Fernando – Secretary-General and CEO will serve as Board Members. Rohana Dissanayake – Group Chairman and Managing Director of David Pieris Motor Company Pvt. Ltd. will also join the Board, replacing Bernhard Stefan – Managing Director – Nestlé Lanka PLC, who relocated overseas.
In his remarks, Balendra noted that over the past year, the Chamber adopted a more solutions-oriented approach to advocacy, focusing not only on identifying challenges but also on developing constructive recommendations in collaboration with government, industry stakeholders, and development partners, with this approach yielding stronger results. “Through our engagement in the Budget 2026 process, eighteen recommendations proposed by the Chamber were incorporated into the national budget, covering areas such as trade facilitation, investment promotion, digitalisation, infrastructure, and improving the ease of doing business.
This builds upon the strong momentum established in previous years and demonstrates the value of evidence-based, constructive engagement.
The Chamber also contributed to addressing emerging global trade challenges, including tariff-related issues affecting Sri Lankan exports. By representing private sector perspectives in Presidential Committees, we supported efforts to safeguard export competitiveness and strengthen trade resilience.”
Beyond advocacy, it significantly expanded its engagement footprint, strengthening bilateral partnerships across more than twenty countries, and supporting more than 1,800 SMEs through training, advisory services, and market access initiatives.
He added that over the next year, the Ceylon Chamber is committed to deepening engagement with members, strengthening global partnerships, enhancing support for SMEs, and accelerating efforts to promote exports and attract investment, and is committed to working with the Government and stakeholders to ensure a resilient and prosperous Sri Lanka.
Business
Kandy’s singing couple striking a harmonious chord
In the hill capital of Kandy, a husband-and-wife duo has won the admiration of music lovers with their shared passion for singing and their dedication to the art.
Vijitha Kingsley Bandara and Umesha Kalhari Navaratne have become familiar voices among audiences in Kandy, entertaining crowds with their musical talents while building a reputation as a versatile singing couple.
Kingsley began his musical journey at the age of 17, performing at outdoor musical shows before gaining opportunities to showcase his talent at several hotels in the Kandy area. His performances for local and foreign tourists further enhanced his reputation as a singer. He later took his musical talents overseas, entertaining audiences in several countries.
For the past 12 years, Kingsley has been engaged in singing at establishments operated by the Devon Group and The Grand Kandyan Hotel in Kandy, following an opportunity extended by Group Chairman Gamini Weeraratne.
Supporting him both in life and music, Umesha has also established herself as a singer, performing at Devon establishments. She also runs a home-based cake-making venture.
The couple, who continue to receive appreciation from music enthusiasts, said they are ready to accept invitations to perform at musical events across the country. They can be contacted on 071-1519130.
Text and Pic by SK Samaranayake
Business
ComBank unveils GIG+ for Lanka’s digital workforce
Recognising the rapid emergence of the gig economy in Sri Lanka, the Commercial Bank of Ceylon has introduced ‘ComBank GIG+’ – a specialised banking solution designed for freelancers, digital entrepreneurs, social media influencers, and individuals and businesses earning in foreign currency through overseas engagements to receive their foreign earnings, including PayPal-linked withdrawals, through a structured banking account.
ComBank GIG+ reflects a decisive shift in the country’s employment landscape, where a growing number of professionals are leveraging global digital platforms and remote work opportunities to build independent income streams. From freelance service providers operating on platforms such as Fiverr, Upwork and Freelancer.com, to content creators monetising audiences across YouTube, TikTok, Meta and X, this segment represents a dynamic and increasingly influential contributor to foreign exchange inflows.
ComBank GIG+ is tailored to meet the specific needs of these digital earners, offering account options in Sri Lanka Rupees as well as major foreign currencies including USD, EUR, GBP and AUD. The account is available to Sri Lankan citizens aged 18 and above residing in the country, as well as duly registered business entities, subject to verification of foreign currency income derived through recognised digital and remote work channels.
Commenting on the introduction of ComBank GIG+, Hasrath Munasinghe, Chief Operating Officer of Commercial Bank said: “The rise of independent digital earners represents a structural shift in how value is created and exported from Sri Lanka. With ComBank GIG+, we are establishing a banking framework that not only recognises this segment, but also integrates it more meaningfully into the formal financial system. This enables individuals and businesses operating beyond traditional employment models to build a verifiable financial track record, access formal financial services, scale their operations, and contribute more visibly to the country’s economic growth.”
The launch of ComBank GIG+ is particularly timely following Sri Lanka’s recent enablement of PayPal linked withdrawals, which has simplified the process of bringing overseas digital earnings into the country.
In addition to facilitating PayPal-linked withdrawals and foreign currency inflows, the Bank said the ComBank GIG+ account offers a range of value-added benefits including first-year fee waivers on credit cards and digital banking services, preferential foreign exchange rates for qualifying conversions into Sri Lanka Rupees, and the opportunity to establish a structured banking relationship that may support future access to financing and other financial solutions. These features are designed to enhance financial efficiency while supporting the day-to-day banking needs of digitally active customers.
By aligning its product innovation with evolving global work patterns, Commercial Bank continues to strengthen its position as a forward-looking, technology-driven institution. The introduction of ComBank GIG+ underscores the Bank’s commitment to supporting new economic segments, enhancing financial inclusion, and enabling Sri Lankan talent to participate more effectively in the global digital economy.
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