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CSE positively impacted by US ambassador’s comments on bail-out

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By Hiran H. Senewiratne

CSE share trading kicked off on a positive note yesterday following US ambassador Julie Chung’s positive comments on the IMF bailout to foreign media and the US Under Secretary of State for Political Affairs Victoria Nuland arriving in Sri Lanka last morning, stock market analysts said.

The market gained in mid-day trade yesterday, mainly pushed up by banking and financial sectors, brokers said. As a result, both indices moved upwards. The All- Share Price Index went up by 84.96 points and S and P SL20 rose by 45.29 points.

Turnover amounted to Rs 1.5 billion without any crossings. The reason for investor sentiment to move up was because it was clear that the US seems to be pushing creditors to go for debt restructuring to obtain the IMF bailout for Sri Lanka, analysts said.

In the retail market seven companies that mainly contributed to the turnover were; JKH Rs 239 million (1.7 million shares traded), Softlogic Life Insurance Rs 175 million (1.4 million shares traded), Lanka IOC Rs 164 million (805,000 shares traded), Expolanka Holdings Rs 154 million (806,000 shares traded), Softlogic Capital Rs 125 million (7.8 million shares traded), Tokyo Cement (Non -Voting) Rs 46.5 million (1.5 million shares traded) and Lanka Tiles Rs 46.4 million (one million shares traded).

It said high net worth and institutional investor participation was noted in John Keells Holdings, Lanka IOC and Lanka Wall Tiles. Mixed interest was observed in Softlogic Life Insurance, Expolanka Holdings and Chevron Lubricants, while retail interest was noted in LOLC Finance, Softlogic Capital and Browns Investments.

The Capital Goods sector was the top contributor to the market turnover (due to JKH), while the sector index lost 1.06 per cent. The share price of JKH recorded a loss of 50 cents to settle at Rs. 139.50.

The Insurance sector was the second highest contributor to the market turnover (due to Softlogic Life Insurance) while the sector index increased by 1.31%. The share price of Softlogic Life Insurance increased by Rs. 2 to close at Rs. 120.50.

Lanka IOC, Softlogic Capital and LOLC Finance were also included among the top turnover contributors. The share price of Lanka IOC lost Rs. 2 to close at Rs. 206.25. The share price of Softlogic Capital moved up by 20 cents to close at Rs. 15.90. The share price of LOLC Finance closed flat at Rs. 6.90.

“We are seeing a lot of activity today, mostly retail interest led by the life insurance companies like Softlogic life and Softlogic Capital, a market analyst said. “Foreign buying was there in the last few days as well”. During the day 60.2 million share volumes changed hands in 14000 transactions.

It is said that Colombo City Hotel subdivided its shares by one share into 20 ordinary shares for its shareholders.

The stock market ended the first month of the New Year with a gain of over 4 per cent, largely influenced by strong momentum earlier on as investor sentiment of late has been bearish.

January saw the benchmark ASPI gain by 4.4 per cent and the active S&P SL20 Index by 5 per cent. Daily turnover averaged Rs. 1.86 billion, according sources said.



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Ceylon Chamber’s Investment Summit 2026 to steer Sri Lanka beyond stabilisation

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President Anura Kumara Dissanayake will inaugurate the Sri Lanka Economic and Investment Summit 2026 today, at the Shangri-La Colombo

Sri Lanka’s national economic discourse takes center stage today as the country’s premier private-sector body, The Ceylon Chamber of Commerce, hosts the Sri Lanka Economic & Investment Summit 2026 at the Shangri-La Colombo.

Convening on October 12 and 13, the two-day summit brings together an influential gathering of senior policymakers, international financiers, multilateral development partners, and private-sector captains to chart the island’s next phase of macroeconomic growth.

Held under the theme “Positioning Sri Lanka in a Changing Global Economy: Resilience, Reform, and the Future of Economic Policy,” this year’s forum marks a critical inflection point in the nation’s post-crisis trajectory.

As Sri Lanka shifts its emphasis from immediate financial stabilization toward sustainable, long-term expansion, the summit aims to address the structural imperatives necessary to secure high-impact foreign direct investment (FDI), deepen regional trade integration, and unlock emerging sectors of economic activity.

The core agenda over the two days focuses on building resilience across volatile global market cycles while executing targeted policy reforms. Key working sessions will examine:

Regional Value Chains & Trade Integration: Leveraging Sri Lanka’s strategic Indian Ocean geography to capture higher-value export flows and commercial linkages.

Energy & Infrastructure Transformation: Accelerating renewable energy integration and modernizing national utility policy.

Digital Economy & Public Modernization: Deploying digital technologies across public administration and financial services to enhance operational efficiency and transparency.

Sectoral Priorities: Modernizing healthcare infrastructure and agricultural value-addition to build a robust domestic economic base.

A defining feature of this year’s summit is the strong convergence between state policy and global commercial expertise. Keynote addresses and panel discussions will feature prominent leaders, including Prime Minister Dr. Harini Amarasuriya and T. Krishnakumar, Chief Executive Officer of Reliance Consumer Products Ltd.

They will be joined by senior delegations and policy experts from major global institutions, including:

= The Asian Development Bank (ADB)

= The International Finance Corporation (IFC)

= Standard Chartered Bank

= Zydus Lifesciences

The active participation of the country’s highest executive and legislative leadership across both days underscores a clear policy commitment to private-sector-led growth. By establishing a direct, high-level platform for dialogue between investors and policymakers, the Ceylon Chamber’s summit seeks to refine regulatory frameworks, improve the ease of doing business, and establish a clear, predictable environment for capital formation in the years ahead.

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White House blocks Microsoft from foreign worker hiring programme

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The White House has often made extreme claims regarding international workers and immigration

Microsoft and several other technology firms have been barred by the White House from hiring skilled international workers on a permanent basis through a widely used visa programme.

US Vice-President JD Vance on Thursday accused Microsoft alongside other firms of committing fraud through the use of the H-1B visa programme and a related process for workers from abroad to become permanent US residents.

Vance claimed that Microsoft, one of the most valuable companies in the US, has been effectively replacing American workers with “foreign indentured servants.”

Microsoft said most of the H-1B visas filed over the last financial year were for existing workers, who are paid the same as local staff.

“No company in the US has abused this system more than Microsoft,” Vance said.

He also made similar accusations about Adobe, Cognizant, Infosys, Tata, Wipro, HCL and Capgemini.

The US government will not process any new or pending Permanent Labor Certification Program (PERM) applications from Microsoft or the seven other companies, Secretary of Labor Keith Sonderling said during the same conference.

Sonderling said companies like Microsoft, as well as US universities, have turned into “visa mills” that were “flooding” the US with foreign workers.

The BBC has contacted all of the companies for comment.

The total number of H-1B visas, a precursor to anyone seeking to go through the PERM process, is capped at 85,000 per year.

A spokeswoman for Microsoft noted to the BBC that “the vast majority of Microsoft employees in the United States are Americans.” The company employs more than 200,000 people worldwide.

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ComBank unites stakeholders to prepare agri sector for El Niño

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El Nino awareness programmes conducted by the Bank

In response to emerging climate risks, the Commercial Bank of Ceylon has launched a proactive initiative through its Development Credit Department, to equip Sri Lanka’s agricultural sector against the potential impacts of the 2026 El Niño climate pattern.

Seeking to move the industry from reactive loss management to early climate preparedness, the Bank partnered with leading state universities to execute a two-part educational and technological intervention in September 2026.

The initiative comes at a critical juncture. Sri Lanka’s Department of Meteorology reported an 80% probability of El Niño conditions emerging between June and August 2026, with effects expected to persist through November and beyond. As highlighted by the Food and Agriculture Organization (FAO), El Niño acts as a risk multiplier for rural livelihoods, food production, and water supply.

To mitigate these threats, the Bank’s initiative creates a collaborative network uniting academic institutions, agricultural extension services, technology providers, farming communities, and the financial sector. The awareness programme on El-Niño and its impact on agriculture was supported by 12 Commercial Bank branches, and engaged with more than 1,100 farmers at 15 diverse locations, including Vattapalai, Muththajankaddu, Palampas, Oddusuddan, Siyambalanduwa, Lindula, Neluwa, Kalawana, Pannala, Madampe, Mannar, Vavuniya and Kumalamunai.

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