Business
Dialog-Airtel Lanka merger comes centre stage
By Hiran H. Senewiratne
Sri Lanka’s premier mobile phone company, Dialog Axiata, will issue 952 million shares by way of a share swap to Bharti Airtel to acquire the latter organization. The deal was finalized yesterday, CSE market analysts said.
Bharti Airtel and Dialog Axiata entered into a Binding Agreement to merge their operations in May 2023. Dialog is the largest telecom service provider in Sri Lanka with more than 17 million subscribers as of 2021, representing around 51 percent of the market. Airtel Lanka has about 5 million subscribers. The 952 million Dialog shares amount to 10.4 percent of the total shares issued by the company.
However, the stock market was sluggish because profit takings came to the fore due to continued uncertainty in the external debt restructuring exercise. Both indices moved downwards. The All Share Price Index went down by 33.1 points, while the S and P SL20 declined by 8.81 points. Turnover stood at Rs 2.22 billion with 3 crossings.
Those crossings were reported in National Developments Bank, where 1.26 million shares, each worth Rs 72, crossed to the tune of Rs 90.6 million, DFCC 300,000 shares crossed for Rs 23.4 million; its shares traded at Rs 78 and Central Finance 205,000 shares crossed for Rs 22.5 million; its shares traded at Rs 110.
In the retail market top seven companies that mainly contributed to the turnover were; Capital Alliance Rs 481 million (7.2 million share traded), Lanka Milk Food Rs 318 million (10.7 million shares traded), Hemas Holdings Rs 100 million (1.2 million shares traded), JKH Rs 87.4 million (429,000 shares traded), Commercial Bank Rs 75 million (708,000 shares traded), HNB Rs 66 million (343,000 shares traded) and Sampath Bank Rs 64.3 million (827,000 shares traded). During the day 71 million share volumes changed hands in 20125 transactions.
It is said high net worth and institutional investor participation was noted in Hatton National Bank, Dialog Axiata and Teejay Lanka. Mixed interest was observed in Lanka IOC, Ambeon Capital and Capital Alliance, while retail interest was noted in Browns Investments, SMB Leasing and LOLC Finance.
The Banking sector was the top contributor to the market turnover (due to HNB), while the sector index gained 0.30 percent. The share price of Hatton National Bank decreased.
The Diversified Financials sector was the second highest contributor to the market turnover (due to Capital Alliance), while the sector index increased by 0.90 percent. The share price of Capital Alliance appreciated by Rs. 4.40 to Rs. 63.40.
Yesterday rupee opened at Rs 301.00/302.05 to the US dollar in the spot forex market from 301.00/302.05 previous day, dealers said. Bond yields were steady. A bond maturing on 15.12.2026 was quoted at 11.32/34 percent from 11.30/35 percent. A bond maturing on 15.12.2028 was quoted stable at 12.10/20 percent.
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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