Connect with us

Business

CSE recalled to buoyancy as IMF-linked positive news emerges

Published

on

By Hiran H.Senewiratne

The stock market was positive throughout yesterday after experiencing a dip over the last two days. The main reason for the revival was the news that the IMF was positive about releasing the second tranche of funds soon, market analysts said.

Amid those developments both indices moved upwards. The All- Share Price Index went up by 108.6 points and Sand P SL20 rose by 38.7 points. Turnover stood at Rs 1.14 billion with one crossing. The crossing was report in Kingsbury Hotel, which crossed 2 million shares to the tune of Rs 24 million; its shares fetched Rs 12.

In the retail market top seven companies that mainly contributed to the turnover were; Hayleys Fabrics Rs 99 million (two million shares traded), Tokyo Cement Rs 56 million (992,000 shares traded), Ceylon Distilleries Rs 51.2 million (1.8 million shares traded), Capital Alliance Rs 43.5 million (528,000 shares traded), Lanka IOC Rs 43.2 million (362,000 shares traded), Galadari Hotel Rs 37.4 million (1.9 million shares traded) and Dipped Products Rs 36.3 million (1.1 million shares traded). During the day 42.9 million share volumes changed hands in 15000 transactions.

Yesterday, the rupee opened at Rs 321.75/322.00 to the US dollar, from Thursday’s close at Rs 322.40/50 to the US dollar, dealers said. Bond yields were stable.

A bond maturing on 01.08.2026 was quoted at 15.60/16.00 percent yesterday, stable from closing at 15.60/95 percent on the previous day. A bond maturing on 01.05.2028 closed at 14.70/15.00 percent, stable from 14.70/95 percent a day earlier.



Business

Ceylinco Life agent among three global finalists for award

Published

on

Ceylinco Life’s Ambalantota branch agent AIP Manjula

Ceylinco Life’s Ambalantota branch agent AIP Manjula has been named one of three global finalists for the prestigious Insurance Agent of the Year award at the 11th Asia Trusted Life Agents & Advisers Awards (ATLAA) 2026.

The recognition places a Sri Lankan insurance professional among the finalists in a regional field spanning South Asia, Southeast Asia, East Asia and the wider Asia-Pacific region.

Ceylinco Life said the achievement reflected the calibre and customer-focused approach of its agency force, while recognising Manjula’s professionalism and commitment to policyholders.

The award evaluates insurance agents on criteria extending beyond sales performance, including ethical conduct, client service, policy persistency, digital adoption, innovative practices and contributions to the insurance industry and community.

The awards are organised by Asia Advisers Network and Asia Insurance Review, with LIMRA as co-organiser. An independent judging and balloting process is monitored by KPMG as the official scrutineer. The judging panel comprises senior insurance executives, association presidents and industry experts from across the Asia-Pacific region.

Continue Reading

Business

CEAT Kelani retains AA+ rating for sixth year

Published

on

CEAT Kelani Holdings (CKH) has retained its National Long-Term Rating of ‘AA+(lka)’ with a Stable Outlook from Fitch Ratings for the sixth consecutive year, reflecting the company’s financial resilience and leading position in Sri Lanka’s pneumatic tyre market.

The ‘AA+(lka)’ rating, the second-highest on Fitch’s national scale, indicates a very strong capacity to meet financial commitments.

Fitch said CKH’s established market leadership and resilient financial profile remained key strengths, while noting its exposure to price-sensitive, cyclical and highly competitive markets.

The Stable Outlook reflects expectations that the company will maintain its market position despite rising input costs and increasing competition from imported tyres, while preserving adequate credit metrics during periods of weaker earnings and higher investment.

Fitch expects CKH’s established brand, extensive dealer network and adaptive pricing strategies to support its market position. Planned production facility upgrades are also expected to improve product quality, particularly in the radial tyre segment.

The rating agency expects near-term pressure on margins from higher raw material and energy costs but said the company’s low leverage and sound liquidity would provide a cushion.

CKH Chairman Chanaka De Silva said the rating reinforced the company’s focus on disciplined financial management, operational adaptability and long-term investment.

Continue Reading

Business

SLT-MOBITEL Enterprise launches Premium Cloud

Published

on

Riyaaz Rasheed, CEO, SLT-MOBITEL, and Faiz Shakir, VP Sales – Nutanix, Southern Asia, unveil SLT-MOBITEL Enterprise Premium Cloud Powered by Nutanix to support enterprise digital transformation

SLT-MOBITEL Enterprise, the enterprise services arm of Sri Lanka Telecom PLC, has launched its Premium Cloud service powered by Nutanix, aimed at helping Sri Lankan businesses modernise their IT infrastructure and accelerate digital transformation.

The service was unveiled at the Lanka Tech Summit 2026 held recently at ITC Ratnadipa, Colombo.

The Premium Cloud combines hybrid multi-cloud capabilities with enterprise-grade performance, enabling businesses to run mission-critical workloads, scale cloud deployments and strengthen business continuity through disaster recovery capabilities.

Hosted on SLT-MOBITEL’s Tier III data centre infrastructure, the platform is designed to provide enhanced security, reliability and flexibility while supporting the growing technology requirements of enterprises.

SLT-MOBITEL Enterprise said the platform would also support organisations seeking to adopt AI-ready capabilities and improve the management and performance of IT workloads.

A key feature of the launch was SLT-MOBITEL Enterprise joining the Nutanix Elevate Service Provider Program (NESPP), which the company said made it the first service provider in the region to join the programme.

Powered by Nutanix’s hybrid multicloud platform, the service enables application and data mobility across on-premises environments, public clouds and edge locations.

The company said the partnership combined Nutanix’s cloud technology with SLT-MOBITEL’s local expertise and support, strengthening its multi-cloud portfolio.

Continue Reading

Trending