Business
CSE sustains bullish trend: indices up
By Hiran H.Senewiratne
CSE sustained its upward trend yesterday from a position of strength as both indices gained on healthy turnover. At the beginning, the market witnessed a downward trend and in the first half of the session profit- taking was witnessed in the previous day’s bull- running companies. The banking sector’s positive momentum continued like on the previous day but did not witness any substantial gains, stock market analysts said.
It is said the market returned to positive territory as both the indices resumed their upward trajectory on the back of price gains in index heavy NIFL and LOLC, while banking sector stocks witnessed a significant pickup in prices during the session, indicating an improved sentiment in the sector.
Net foreign outflow crossed the Rs. 45-billion-mark year-to-date with Rs. 101 million worth of net selling on the previous day. Estimated net foreign selling topped in Dialog at Rs. 40.6 million, while net buying topped in Royal Ceramics at Rs. 14 million.
Both indices moved upwards. The All- Share Price Index went up by 44.55 points and S and P SL20 rose by 17.01 points. Turnover stood at Rs 3.5 billion with two crossings. Those crossings were reported in Amaya Leisure, which crossed 1.3 million shares to the tune of Rs 33.8 million; its shares traded at Rs 26 and Hayleys 200,000 shares crossed for Rs 20.1 million, its shares traded at Rs. 100.50.
In the retail market top five companies that mainly contributed to the turnover were; Expolanka Holdings Rs 602 million (3.1 million shares traded), Browns Investments Rs 371 million (35.1 million shares traded), Sampath Bank Rs 270 million (4.6 million shares traded), Pan Asia Bank Rs 160 million (8.5 million shares traded) and Amana Bank Rs 142 million (33.7 million shares traded). During the day 239 million share volumes changed hands in 35000 transactions.
Amid those developments new IPOs are in the pipeline. The Ex-Pack Corrugated Carton Limited IPO will likely open on October 22, 2021. The company will issue 83.3 million shares at a price of Rs. 26 to raise Rs 699 million. This share issue would be 25 percent of the total shareholding. Purpose of this IPO is to raise funds to set up a manufacturing facility. Total estimated cost for the facility would be Rs 2.9 billion. Apart from the Rs 699 million IPO, the company will look for other avenues to collect funds from internal funds, Rs 602 million, investment property sales Rs 450 million and Rs 1.2 billion from debt financing.
Yesterday, the Sri Lankan rupee was quoted against the US dollar at Rs 199.40. This was a controlled price set by the Central Bank to stabilize price escalation in essential goods.
Business
Sri Lanka betting its tourism future on cold, hard numbers
National Airport Exit Survey tells quite a story
Australia’s role here is strategic, not charitable
In a quiet but significant shift, Sri Lanka’s tourism sector is moving beyond traditional destination marketing and instinct-based planning. The recent launch of the “From Data to Decisions” initiative jointly backed by Australia’s Market Development Facility and the Sri Lanka Tourism Development Authority, sent an unambiguous message: sentiment is out, statistics are in.
The initiative is anchored by a 12-month National Airport Exit Survey, a trove of data covering 16,000 travellers. The findings sketch a new traveller profile: nearly half are young (20–35), independent, and book online. Galle, Ella, and Sigiriya are the hotspots; women travellers outnumber men; and a promising 45% plan to return. This isn’t just trivia. It’s a strategic blueprint. If Sri Lanka Tourism listens, it can tailor everything from infrastructure to marketing, moving from guesswork to precision.
The keynote speaker, Deputy Minister Prof. Ruwan Ranasinghe called data “a vital pillar of tourism transformation.” Yet the unspoken truth is that Sri Lanka has long relied on generic appeals -beaches, heritage, smiles. In today’s crowded market, that’s no longer enough. As SLTDA Chairman Buddhika Hewawasam noted, this partnership is about “elevating how we collect, analyse, and use data.”
Australia’s role here is strategic, not charitable. By funding research and advocating for a Tourism Satellite Account, it is helping Sri Lanka build a tourism sector that is both sustainable and measurable. Australian High Commissioner Matthew Duckworth linked this support to “global standards of environmental protection” – a clear nod to the growing demand for green travel. This isn’t just aid; it’s influence through insight.
“The real test lies ahead,” a tourism expert told The Island. “Data is only as good as the decisions it drives. Will these insights overcome bureaucratic inertia? Will marketing budgets actually follow the evidence toward younger, independent, female travellers?,” he asked.
“The comprehensive report promised for early 2026 must move swiftly from recommendation to action. In an era where destinations are discovered on Instagram and planned with algorithms, intuition alone is a high-stakes gamble. This forum made one thing clear: Sri Lanka is finally building its future on what visitors actually do – not just what we hope they’ll do. The numbers are in. Now, the industry must dare to follow them,” he said.
By Sanath Nanayakkare
Business
New ATA Chair champions Asia’s small tea farmers, unveils ambitious agenda
In his inaugural address as the new Chairman of the Asia Tea Alliance (ATA), Nimal Udugampola placed the region’s millions of smallholders at the core of the global tea industry’s future, asserting they are the “indispensable engine” of a sector that produces over 90% of the world’s tea.
Udugampola, who is also Chairman of Sri Lanka’s Tea Smallholdings Development Authority, used his speech at the 6th ATA Summit held in Colombo on Nov. 27 to declare that the prosperity of Asian tea is “entirely contingent” on the resilience of its small-scale farmers, who have historically been overlooked by premium global markets.
“In Sri Lanka, smallholders account for over 75% of our national production. Across Asia, millions of families maintain the quality and character of our regional teas,” he stated, accepting the chairmanship for the 2025-2027 term.
To empower this vital community, Udugampola unveiled a vision focused on Sustainability, Equity, and Digital Transformation. The strategic agenda includes:
Climate Resilience: Promoting climate-smart agriculture and regenerative farming to protect smallholdings from environmental disruption.
Digital Equity: Leveraging technology like blockchain to create farm-to-cup traceability, connecting smallholders directly with premium consumers and ensuring fair value.
Market Expansion: Driving innovation in tea products and marketing to attract younger consumers and enter non-traditional markets.
Standard Harmonization: Establishing common regional quality and sustainability standards to protect the “Asian Tea” brand and push for stable, fair pricing.
Linking the alliance’s goals to national ambition, Udugampola highlighted Sri Lanka’s target of producing 400 million kilograms of tea by 2030. He presented the country’s “Pivithuru Tea Initiative” as a model for other ATA nations, designed to achieve this through smallholder empowerment, digitalization, and aligned policy objectives.
By Sanath Nanayakkare
Business
Brandix recognised as Green Brand of Year at SLIM Awards 2025
Brandix Apparel Solutions was recognised as the Green Brand of the Year at the Sri Lanka Institute of Marketing (SLIM) Brand Excellence Awards 2025, taking home Silver, the highest award presented in the category this year.
The ‘Green Brand of the Year’ recognises the brand that drives measurable environmental impact through sustainable practices, climate-aligned goals and long-term commitment to protecting natural resources.
A pioneer in responsible apparel manufacturing for over two decades, Brandix has championed best practices in the sphere of sustainable manufacturing covering environmental, social, and governance aspects. The company built the world’s first Net Zero Carbon-certified apparel manufacturing facility (across Scope 1 and Scope 2) and meets over 60% of its energy requirement in Sri Lanka via renewable sources.
Head of ESG at Brandix, Nirmal Perera, said: “Being recognised as Green Brand of the Year is an encouraging milestone for our teams working across sustainability.”
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