Business
CSE shows gains but fails to sustain momentum
By Hiran H.Senewiratne
The latest IMF report has revealed that global economic conditions are going to be gloomy and that the world economy will expand by 3.2 per cent towards the end of 2022 due to the global recession. Accordingly, most economies will likely go bankrupt and the Sri Lanka economy is the first to thus collapse, stock market analysts said.
Amid these developments yesterday, the CSE showed some gains at the beginning but could not sustain that momentum because the investors are expecting some relief from the budget that would likely be presented in parliament before the end of August, market analysts said.
Therefore, both indices showed mixed reactions. All Share Price Index went down by 3.5 per cent and S and P SL20 rose by 9.9 points. Turnover stood at Rs one billion with a single crossing. The crossing was reported in Windforce, which crossed 1.4 million shares to the tune of Rs 21 million; its shares traded at Rs 15.
In the retail market top seven companies that mainly contributed to the turnover were; Sunshine Holdings Rs 421 million (11.1 million shares traded), Lanka IOC Rs 83 million ( one million shares traded), Expolanka Holdings Rs 72.6 million (430,000 shares traded), hZenid Business Solutions Rs 34.3 million (1.5 million shares traded), Balangoda Plantations Rs 24.6 million (537,000 shares traded), Browns Investment Rs 22.6 million (3.2 million shares traded) and Regiz Rs 21.7 million (419,000 shares traded).
During the day, 54.2 million share volumes changed hands in 13000 share transactions.Top gainers were, Malwatte Valley Plantations, Teejay Lanka and Sampath Bank. Further, market activities have improved and turnover levels surpassed Rs one billion. But the main sector that contributed was the manufacturing sector but logistics and transport sectors also performed well. Plantations sector and the IT sector also did well, stock market analysts said.Yesterday, the Central Bank announced US dollar buying rate was Rs 357.44 and the selling rate Rs 368.49.
Business
JAT Holdings celebrates the 6th Pintharu Abhiman Convocation, uplifting over 800 painters through NVQ certification
JAT Holdings PLC marked a significant milestone with the successful conclusion of the 6th JAT Pintharu Abhiman Convocation, recognising more than 800 painters who have earned their NVQ Level 3 qualification, an internationally recognised professional certification delivered in partnership with the National Apprentice and Industrial Training Authority (NAITA).
JAT Pintharu Abhiman was established to uplift Sri Lanka’s painter community through structured skills development, professional recognition and stronger earning potential. This year’s graduating cohort reflects the programme’s expanding reach and the tangible changes it continues to deliver for individuals, families and communities.JAT in collaboration with NAITA has streamlined the certification process such that what would traditionally take up to six months has been refined into an efficient and high-impact three-day assessment model. This approach ensures painters can obtain their qualification without sacrificing extended periods of work, while JAT fully absorbs the certification cost, removing financial barriers and enabling wider access to formal recognition.
Research conducted amongst NVQ qualified participants shows meaningful improvements in livelihoods, with 90 percent reporting increased personal confidence and 76 percent noting an improvement in their overall standard of living. This uplift demonstrates the long-term value of industry-aligned professional training.
A noteworthy moment at this year’s convocation was the recognition of four female painters who received their NVQ certifications. Their achievement marks an important step in broadening female participation in a field that has historically been male dominated, reinforcing JAT Holdings’ commitment to creating inclusive pathways for technical development and sustainable employment.
Speaking at the ceremony, Mr. Wasantha Gunaratne, Director Sales and Technical (South Asia) of JAT Holdings PLC, said:
“Pintharu Abhiman is fundamentally about development, giving painters the knowledge, structure and recognition they need to progress in their careers. By equipping over 800 painters with an internationally recognised NVQ qualification, we are not only strengthening the technical standards of the industry but also creating real pathways for entrepreneurship and financial independence. It is especially encouraging to see that one in five certified painters have already begun building their own businesses. These are the outcomes that matter because they show that when we invest in skills, we unlock opportunity. JAT remains committed to expanding these avenues so every painter has the chance to grow, lead and build a sustainable future.”
The 6th JAT Pintharu Abhiman Convocation underscores JAT’s continued dedication to uplifting the painter community, enhancing industry standards and supporting national skills development through accessible, professionally recognised qualifications.
Business
Industry bodies flag gaps in Draft National Electricity Policy
The Ceylon Chamber of Commerce, together with the American Chamber of Commerce, Exporters Association of Sri Lanka, Federation of Renewable Energy Developers, Joint Apparel Association Forum, National Chamber of Commerce of Sri Lanka and Sri Lanka Association for Software and Services Companies, has submitted joint observations on the Draft National Electricity Policy, highlighting that several key issues have not been adequately addressed.
Whilst recognizing the need for reform in the electricity sector, the submission flags several gaps in the draft policy that require closer attention. Key areas such as affordability, decarbonisation commitments, incentives for renewable energy, competition, and the long-term financial health of the sector are either missing or not addressed in sufficient depth.
The proposed tariff revisions outlined in the draft energy policy raise concerns, particularly regarding the removal of cross-subsidies and the proposal to restrict subsidies exclusively to households consuming less than 30 kWh per month. Without detailed analysis, these measures could weaken access to sustainable and affordable energy and potentially lead to fiscal risks.
The provisions allowing uncompensated curtailment, removing feed-in tariffs, and imposing mandatory time-of-use tariffs on rooftop solar users could make renewable energy projects un-bankable for international lenders, thereby increasing the cost of capital for Sri Lanka.
Calling for a more future-focused approach, the submission stresses the need for a policy that reflects modern electricity systems, including planning for the energy transition, energy storage, market competition, cross-border electricity trading, and emerging technologies.
The Chambers and Associations request a comprehensive revision of the Draft National Electricity Policy, alignment with the Electricity Act, and resubmission following substantive consultation, and reiterate support to engage constructively with policymakers to shape a policy that supports affordability, investment confidence, and Sri Lanka’s long-term energy security.
Business
Bank of Ceylon partners with 36th APB Sri Lanka Convention
Bank of Ceylon (BOC) partnered with the 36th Annual Convention of the Association of Professional Bankers (APB) Sri Lanka, reaffirming its commitment to promoting professional excellence and knowledge sharing within the banking sector. The partnership was officially handed over by Sameera D. Liyanage, Chief Marketing Officer of Bank of Ceylon and M. R. N. Rohana Kumara, Deputy General Manager Business Revival Unit of Bank of Ceylon, reflecting BOC’s focus on empowering banking professionals and supporting the sustainable growth of Sri Lanka’s financial services industry.
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