Business
Date extension in domestic debt restructuring talks continuing to prove a dampener
By Hiran H. Senewiratne
The gloom that had descended on the stock market due to the extension of the date for the conduct of talks between the government and domestic bondholders continued to prevail yesterday, market analysts said.
Initially this deal was scheduled for August 27, but due to unavoidable circumstances it was extended to September 11. The domestic debt restructuring exercise is a prime recommendation of the IMF.
However, banking sector counters were a bit active and attractive yesterday due to the Central Bank policy rate decision. Amid those developments both indices moved downwards. All -Share Price Index went down by 61.42 points and S and P SL20 declined by 16.2 points. Turnover stood at Rs 1.6 billion with four crossings. Sampath Bank 1.8 million shares crossed to the tune of Rs 126 million and its shares traded at Rs 70, TJ-Lanka 2.6 million shares crossed for Rs 90.7 million and its shares traded at Rs 34.70, Asian Hotel and Properties 1.2 million shares crossed for Rs 64.5 million; its shares traded Rs 53.50 and Hatton Plantations 750,000 shares crossed for Rs 21 million; its shares traded at Rs 28.
In the retail market top seven companies that mainly contributed to the turnover were; Samapth Bank Rs 163 million (2.3 million shares traded), JKH Rs 84.9 million (475,000 shares traded), CIC Holdings Rs 70.5 million (1 million shares traded), Hayley Rs 59.6 million (662,000 shares traded), Asian Hotel
Properties Rs 55.8 million (1 million shares traded), TJ Lanka Rs 44.7 million (1.3 million shares traded) and Kingsbury Rs 40.6 million (3.6 million shares traded). During the day 63.5 million share volumes changed hands in 15000 transactions.
A bond maturing on 01.07.2025 was quoted at 15.50/16.55 percent on Thursday after closing at 15.50/16.55 percent on Tuesday. A bond maturing on 15.05.2026 was quoted up at 15.90/16.00 percent after closing at 15.80/16.00 percent on Tuesday. A bond maturing on 15.09.2027 was quoted at 14.75/15.00 percent after closing at 14.70/15.50 percent.
In a significant move for Sri Lanka’s tourism sector, NKAR, a stalwart in the industry for over 45 years, has announced a partnership with Holiday Max, Australia’s largest tour operator. Based in Perth, Holiday Max has ventured into Sri Lanka for the first time, marking a promising expansion for both entities.
This collaboration aligns with NKAR’s strategic vision to enhance the country’s appeal to international travelers. Nilmin Nanayakkara, Chairman and Managing Director of NKAR says, “Our policy has always been to promote Sri Lanka to new markets by attracting new operators, rather than competing through price undercutting or making unrealistic promises.” This statement encapsulates NKAR’s commitment to fostering sustainable tourism growth by focusing on quality over cost.
By prioritsing service excellence and maintaining high health and safety standards, NKAR aims to elevate the overall travel experience for visitors. This approach not only positions Sri Lanka as a premium destination but also attracts reputable operators like Holiday Max, who are drawn to the island’s unique experiences and NKAR’s dedication to quality service.
The partnership represents a remarkable opportunity to showcase Sri Lanka’s diverse offerings to Australian travelers, potentially opening new avenues for tourism growth. As NKAR continues to innovate and adapt, this collaboration is set to bolster Sri Lanka’s standing as a sought-after travel destination, steering the industry away from aggressive price competition towards sustainable growth through authentic experiences.
By focusing on attracting new operators and markets, NKAR is paving the way for a revitalised tourism landscape in Sri Lanka, one that values quality, safety, and the unique charm of the island. NKAR is recognised as one of the top five destination management companies in Sri Lanka. The company recently won 3 major awards at Sri Lanka Tourism Awards.
By Sanath Nanayakkare
LOLC Finance secured five Gold Awards and one Merit Award at the LankaPay Technovation Awards 2025, including the prestigious Overall Excellence in Digital Payments Gold Award for the sixth consecutive year.
The company dominated both bank and NBFI categories, winning Best Digital Strategy Gold Award, proving its superiority over traditional banks in digital finance.
Awards won were as follows.
Gold Awards:
Best Digital Payment Strategy (Banks & NBFI)
Best Mobile Application for Retail Payments via JustPay (Banks & NBFI)
Excellence in Customer Convenience (NBFI)
Financial Inclusivity (NBFI)
Overall Excellence in Digital Payments (NBFI)
Merit Award: Most Popular Digital Payment Product (iPay)
CEO Krishan Thilakaratne emphasized digitalization as core to LOLC Finance’s operations, enabling seamless, 24/7 financial access through platforms like LOLC Real Time and iPay.
Chairman Conrad Dias highlighted the audited, performance-based recognition and iPay’s mission to solve real-world financial challenges with cutting-edge tech.
iPay & JustPay innovations were Recognized for leading digital payment adoption with 1M+ downloads, 1.8M monthly transactions, and 65% JustPay market share, featuring biometric security and AI fraud detection.
Financial Inclusivity was recognized for Bridging gaps via multi-lingual services, cashless processes, and rural outreach programs.
Customer Convenience was recognized for real-time solutions (SLIPS, CEFTS) eliminating branch visits for payments and transfers.
Tree House International, located in Dehiwala, has been recognised as the Most Evidence-Based Special Needs School of the Year at BWIO Awards. The only international school in Sri Lanka dedicated exclusively to children with special needs, 75% of its students relocate from abroad for its high-quality, result-driven education.
Last semester, 100% of students transitioned to mainstream or vocational training.
The school is led by Dr. Anton James, a Chartered Behavioural Psychologist with over 20 years of global experience.
His evidence-based approach earned the highest honour from the British Psychological Society, and he was elected a Chartered Scientist. Co-directed by Chrystal Honsaker, an expert with 15 years of international special needs experience, the school also offers an accredited British curriculum alternative to GCSEs.
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