Business
CSE trading halts twice for second consecutive day; ASPI down 5.27 per cent
By Hiran H.Senewiratne
The CSE halted trading twice for the second consecutive day yesterday at 11.10 am as an index of liquid stocks plunged over 7.5 per cent in intra-day trading. The broader All- Share Index was down 5.27 per cent, sources said.
“The market had been halted for 30 minutes due to the S&P SL20 index dropping over 7.5 per cent from the previous close, as set out in SEC Directive dated April 30, 2020, CSE sources said.
Sri Lanka stocks have been on the decline since the Central Bank allowed flexibility in the currency. The currency has fallen over 50 per cent so far since it was allowed flexibility on March 7.
Market analysts have expected a long overdue correction, amid macro-worries. The stock market has been driven by loose monetary policy both at home and abroad. Some stocks have been bought as an inflation hedge with the rupee expected to fall, stock market analysts said.
Others have also benefited from imports controls. Sri Lanka’s loose monetary policy however has led to increasing external weakness which has translated into disrupted supplies, analysts said.
Amid those developments both indices moved downwards. The All- Share Price Index went down by 333 points and S and P SL20 declined by 153 points. Turnover stood at Rs 3.2 billion with a single crossing. The crossing was reported in Melstacorp, which crossed four million shares to the tune of Rs 168 million, its shares traded at Rs 42.
In the retail market top seven companies that mainly contributed to the turnover were; Expolanka Holdings Rs 830 million (3.8 million in shares traded), Browns Investments Rs 273 million (35.2 million shares traded), Chevron Lubricants Rs 244 million (2.7 million shares traded), LOLC Finance Rs 214 million (19.3 million shares traded), LOLC Holdings Rs 175 million (290,000 shares traded), Hayleys Rs 129 million (1.6 million shares traded) and JKH Rs 123 million (839,000 shares traded). During the day 164 million share volumes changed hands in 30000 transactions
The stock market yesterday suffered a fresh jolt with trading suspended for a half-hour following the S&P SL20 index dropping by 5 per cent as local investor sentiment remained besieged. The setback was despite improved turnover and volume while foreigners continue to be net buyers, market sources said.
Yesterday the US dollar was quoted at Rs 298 selling rate and Rs 288 buying rate. The Central Bank imposed certain rules to control the price but this has not been effective, informed sources said.
Business
A sustained wave of Indian assistance to Sri Lanka showcases defining shift in developmental diplomacy
By Sanath Nanayakkare
An evolving approach to regional diplomacy was brought into sharp focus with the recent foundation-laying ceremony for the Moragahakanda Bridge in Matale.
Jointly launched by Indian High Commissioner Santosh Jha and Minister of Transport, Highways and Urban Development Bimal Rathnayake, this 175-metre span is far more than a routine civil engineering project. It serves as the physical manifestation of a broader USD 450 million reconstruction package deployed by India in the wake of Cyclone Ditwah, which severely fractured the island’s transport arteries.
Foreign aid is too often discussed in cold, macroeconomic abstractions. Yet, every so often, a consistent pattern of targeted assistance alters the landscape of bilateral relations, offering a clear window into how regional partnerships evolve out of necessity and goodwill.
Across the country today, a remarkable narrative of multi-layered cooperation is unfolding.
From critical post-disaster infrastructure and maritime routes to grassroots agricultural uplift and institutional capacity-building, India’s developmental footprint is shifting unmistakably toward an organic, people-centric model of shared resilience.
What distinguishes this latest wave of assistance is its deliberate pivot from emergency support to permanent, climate-resilient transformation. When Cyclone Ditwah initially paralysed regional connectivity, India’s immediate response was marked by the rapid deployment of temporary Bailey bridges.
Today, that swift humanitarian intervention has matured into a structural blueprint: the Moragahakanda project stands as the vanguard of 13 permanent bridges being built across Sri Lanka’s provinces by IRCON International Limited, complemented by upcoming railway upgrades and modern signaling systems backed by a USD 250 million Line of Credit.
The true signature of this diplomatic shift lies in its breadth, operating simultaneously across multiple tiers of society:
Institutional Governance: Delegations of Sri Lankan parliamentarians and senior administrative officers regularly travel to India to study public policy frameworks, legislative systems, and administrative practices.
Economic Lifelines: Financial mechanisms, such as viability gap funding for the Nagapattinam-to-Kankesanthurai passenger ferry service, continue to shrink geographical distances, reviving coastal commerce and tourism.
Grassroots Empowerment: Specialised capacity-building programmes tailored for local stakeholders – ranging from state officials to rural dairy farmers -ensure that development reaches deep into the island’s hinterlands.
By aligning immediate disaster relief with long-term infrastructure, institutional capacity, and human capital, India and Sri Lanka are demonstrating how neighbours can build safer, more connected futures together, grounded firmly in mutual respect and tangible progress.
Business
Bring your own bag to book fair, CEA urges
By Ifham Nizam
The Central Environmental Authority (CEA) yesterday urged visitors to the Colombo International Book Fair to bring reusable bags to carry their purchases, as part of a drive to reduce single-use plastic waste at the event.
CEA Director General R. S. P. Kapila Rajapaksha said large quantities of plastic, particularly “sili sili” bags, had been used to carry books at previous book fairs.
“We urge visitors to bring an environmentally friendly, reusable bag when they come to buy books. This simple step can help reduce the use of single-use plastic and protect the environment,” Rajapaksha said.
The book fair opens on September 25, with the CEA and the Sri Lanka Book Publishers’ Association launching an awareness programme targeting book sellers, food vendors and visitors.
The programme will be conducted under the theme “Read Smart, Carry Smart”, focusing on reducing polythene and plastic use throughout the exhibition.
The CEA said the use of plastic bags is also subject to regulations issued under the Consumer Affairs Authority Act. Gazette Extraordinary No. 2456/41, dated October 1, 2025, prohibits the free distribution of handled “sili sili” bags to consumers. Where such bags are sold, the charge must be included in the customer’s bill.
The CEA said food outlets at the book fair would also be required to comply with regulations prohibiting a range of single-use plastic products.
These include plastic straws and stirrers, disposable plastic plates, cups, spoons, forks and knives, as well as polythene-based food wrappers commonly known as lunch sheets.
The CEA said it had discussed the requirements with relevant stakeholders and reached agreement to ensure that prohibited products are not used at food outlets within the exhibition premises.
The authority urged both traders and visitors to cooperate with the initiative and help make this year’s book fair a more environmentally responsible event.
Business
Japanese investor Yoshimichi Watanabe backs Hunas Holdings
Partnership signals renewed foreign investor confidence in Sri Lanka as a destination and in the long-term growth of its hospitality sector
Japanese investor Yoshimichi Watanabe has entered into a partnership with Colombo Stock Exchange-listed Hunas Holdings PLC, in a move that comes as the diversified conglomerate prepares a significant expansion of its hospitality and real estate interests in Sri Lanka.
The partnership brings foreign capital and international market experience into one of Sri Lanka’s fastest-diversifying listed groups at a point when the Group is actively building out its pipeline across both sectors. Hunas Holdings is currently evaluating a series of hospitality and real estate developments in Sri Lanka, with further announcements expected in the coming months.
Hunas Holdings PLC operates across hospitality and leisure, real estate, renewable energy and agriculture, with a hotel portfolio that includes Hunas Falls in Elkaduwa
For Sri Lanka, the significance of the partnership extends beyond the two parties. Inbound investment of this nature, from an investor with direct and sustained experience of the market, is a measure of returning confidence in the country as a destination and in the underlying fundamentals of its hospitality sector, at a time when the industry is repositioning towards higher-value, experience-led travel.
Watanabe brings investment experience across e-commerce, hospitality and real estate in Japan and in international markets including Bali, Indonesia. He has also maintained a relationship with Sri Lanka over many years, having made multiple investments in the country, giving him first-hand insight into its business environment, regulatory landscape and long-term potential.
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