Business
Fading investor confidence triggers steep ASPI plunge
By Hiran H. Senewiratne
Investor confidence entered ‘negative terrain’ at the CSE yesterday due to external and internal factors, resulting in the All Share Price Index declining steeply, market analysts said.
Amid those developments both indices moved downward. The All Share Price Index went down by 184.5 points, while the S and P SL20 declined by 43.45 points. Turnover stood at Rs 1.15 billion with three crossings.
Those crossings were; LMF 750,000 shares crossed to the tune of Rs 62 million; its shares traded at Rs 83, Aitken Spence 300,000 shares crossed for Rs 40 million; its shares traded at Rs 134 and JKH two million shares crossed for Rs 36.4 million; its shares sold at Rs 18.20.
In the retail market companies that mainly contributed to the turnover were; LMF Rs 68 million (82000 shares traded), York Arcade Rs 47 million (6.9 million shares traded), JKH Rs 45 million (2.5 million shares traded), Lanka IOC Rs 41 million (325,000 shares traded), Colombo Dockyards Rs 34 million (303,000 shares traded), CCS Rs 33 million (282,000 shares traded) and Citrus Leisure Rs 29 million (6.9 million shares traded). During the day 79 million share volumes changed hands in 18441 transactions.
It is said that FMCG sector, especially LMF, led the market while the manufacturing sector, especially JKH, also performed well. Further hotel and leisure sector counters, especially Citrus Leisure and Aitken Spence, significantly performed.
Meanwhile, Softlogic Life Insurance said it plans to amalgamate its subsidiary, Softlogic Life Insurance Lanka Limited, with the parent entity.
The proposed transaction will see Softlogic Life Insurance Lanka Limited amalgamating with Softlogic Life Insurance , subject to the approval of the District Court of Colombo under Section 102(1) of the Regulation of Insurance Industry Act No. 43 of 2000 as amended.
Dinlanka Logistics (Pvt) Ltd said it purchased 20,000,000 shares of Ceylon Hotels Corporation PLC at Rs 30.00 per share on October 12. Following the transaction, Dinlanka Logistics holds an 11.11 percent stake in the issued share capital of the company.
Dipped Products said it commenced operations at its new Rs 4.2 billion manufacturing facility at the Katunayake Export Processing Zone on October 8.
Yesterday the buying rate of the dollar was Rs 326.45 and selling rate Rs 335.51.
Business
Indian business leader urges SL entrepreneurs to tap into India’s rapidly expanding consumer market
By Sanath Nanayakkare
Speaking at the Sri Lanka Economic and Investment Summit 2026, T. Krishnakumar, Chief Executive Officer of Reliance Consumer Products Ltd (RCPL), emphasised that local enterprises can unlock substantial economic benefits by strategically aligning with India’s booming consumer base.
Addressing business leaders and policymakers at the Shangri-La Hotel in Colombo, Krishnakumar highlighted that geographical proximity and rich cultural ties provide a natural foundation for deeper commercial collaboration.
He noted that instead of viewing bilateral trade narrowly, regional partnerships should act as conduits to build robust, scalable enterprises capable of plugging into wide-reaching regional value chains.
“For Sri Lankan exporters dealing in traditional staples as well as value-added goods, accessing India’s rising middle class presents a phenomenal growth window,” he said.
Drawing insights from Reliance Consumer Products’ rapid expansion – which scaled efficiently to thousands of employees and multi-billion-dollar metrics – Krishnakumar stressed that modern corporate success relies on disciplined execution, localised consumer understanding, and smart technology integration.
Furthermore, he underscored that while rapid growth is critical, businesses must consistently anchor their models in affordability and consumer trust.
Concluding his address at the summit, the RCPL chief noted that pairing regional trade integration with resilient business practices and predictable regulatory frameworks will be vital as Sri Lanka transitions firmly toward accelerated economic development.
Addressing the Summit during a subsequent fireside chat, President Anura Kumara Dissanayake underscored that a core concern currently being targeted by the government is developing a critical mass of local entrepreneurs equipped to engage with international enterprise counterparts.
Business
SriLankan Airlines wins prestigious SATA 2026 Visitors’ Choice Award for Leading International Airline
SriLankan Airlines has once again been honoured with the prestigious Visitors’ Choice Award for Leading International Airline at the South Asian Travel Awards (SATA) 2026, reaffirming its continued recognition in the regional travel and tourism industry. The airline, which has received this award in previous years, was the only international airline to be recognised in this category at this year’s event. The 10th anniversary edition of the awards ceremony was held earlier this month at Hotel Barcelo Nasandhura in Male, Maldives.
Recognised as one of the key events on the Maldivian tourism and travel industry calendar, SATA celebrated its 10th anniversary on a grand scale, bringing together prominent industry stakeholders, including Government Ministers, distinguished dignitaries, diplomats and senior representatives from leading airlines and their respective head offices.
Commenting on the achievement, Dimuthu Tennakoon, Head of Commercial, SriLankan Airlines, stated, “We are honoured to receive this recognition at the South Asian Travel Awards 2026. Being named the Leading International Airline in the Visitors’ Choice Awards once again is a meaningful acknowledgement of our commitment to serving our passengers and strengthening our presence in the region. This award inspires us to continue enhancing the travel experience we offer and to build stronger connections with the markets and communities we serve.”
Complementing its commitment to service excellence, SriLankan Airlines offers an extensive flight network with convenient connections to destinations across the globe. In South Asia, the airline operates nearly 130 flights each week to 15 destinations across India, Pakistan, the Maldives, Nepal, and Bangladesh. With schedules thoughtfully designed to suit the needs of travellers, SriLankan Airlines provides seamless connectivity for those visiting Colombo for business or leisure, as well as passengers travelling onwards to destinations worldwide.
Business
JXG enters LMD’s Most Respected Entities in Sri Lanka 2026 for the first time, securing a place among the first 50
JXG (Janashakthi Group), Sri Lanka’s leading financial conglomerate, has been ranked 44th in LMD’s Most Respected Entities in Sri Lanka 2026, marking the Group’s first appearance in the prestigious listing. The recognition places JXG among Sri Lanka’s most respected companies and marks an important milestone in the Group’s master-brand journey.
As the holding company, JXG was also recognised across key attributes including Aspirational Workplace, Business Expansion, Business Innovation, Corporate Culture, Corporate Dynamism, Crisis Management, Employee Wellbeing, Honesty and Integrity, and Leadership Profile. The recognition reflects the growing strength of the JXG brand and the collective contribution of its businesses and people in building trust and confidence among its stakeholders.
JXG’s subsidiaries, including Janashakthi Life and First Capital, have also been recognised in the main table of LMD’s Most Respected Entities 2026 rankings, while Janashakthi Finance has been recognised under the Business Expansion attribute, reflecting the strength of the Group’s individual businesses alongside its growing master brand.
Conceptualised and commissioned by LMD and conducted by PepperCube Research Consultants, the Most Respected Entities special edition recognises companies based on an independent survey of Sri Lanka’s business community.
Commenting on the recognition, Gamika de Silva, Group Chief Marketing Officer at JXG, said, “This is a proud moment for all of us at JXG. We set out to build a Group brand that is not just seen but lived by our people and reflected in everything we do. Ultimately, the true testament to any brand lies in its people, and the credit for this recognition goes to everyone across JXG who brings our values to life every day. This recognition is an encouraging milestone for us, while also reminding us to keep raising the bar and earning the respect of our stakeholders through what we do.”
JXG’s approach to building trust is anchored in its core values of Integrity, Collaboration, Respect, Performance Driven and Innovation. These values guide how its businesses operate, how its people engage with one another and how the Group serves its customers and wider stakeholders.
As JXG continues to expand its businesses, the Group remains focused on strengthening its market presence, creating long-term value and contributing to the growth of Sri Lanka’s financial services sector, guided by its purpose, Breaking Barriers, Forging Futures.
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