Business
Global stock markets decline by 5.2 per cent in 2022 third quarter

By Hiran H.Senewiratne
The MSCI World Stock Market Index reports that in the third quarter of this year ending September, Europe, Asian and US asset markets, namely commodity and equity markets, dropped notably. The Index further reveals that global stock markets declined by 5.2 per cent in the third quarter of this year, stock analysts said.
The MSCI World Index is a broad global equity index that represents large and mid-cap equity performance across all 23 developed markets. It covers approximately 85 per cent of the free float-adjusted market capitalization in each country.Apart from stock markets, gold prices indicated an 8.3 per cent drop. The US dollar rate appreciated in the third quarter of this year, market analysts said.
Yesterday the CSE was sluggish due to month- end, weekend and quarter- end taking of profits from the CSE. Both CSE indices moved downwards. The All- Share Price Index went down by 20.4 points and S and P SL20 declined by 6.8 points. Turnover stood at Rs 2.5 billion with eight crossings.
Those crossings were reported in Commercial Bank, where 1.1 million shares crossed to the tune of Rs 10.2 million, its shares traded at Rs 55, LOLC Finance 11.9 million shares crossed for Rs 100 million and its shares traded at Rs 8.40, JKH 600,000 shares crossed to the tune of Rs 82.8 million, its shares fetched Rs 138, Hunas Falls 900,000 shares crossed to the tune of Rs 36 million, its shares traded at Rs 40, Lanka IOC 120,000 shares crossed to the tune of Rs 34.6 million, its shares traded at Rs 288, Agstar PLC 1.8 million shares crossed to the tune of Rs 39.7 million and its shares fetched Rs 16.50, CIC Holdings (Non- Voting) 400,000 shares crossed to the tune of Rs 28 million, its shares were sold at Rs 70 and CIC (Voting) 250,000 shares crossed to the tune of Rs 21,2 million shares; its shares fetched Rs 85.
In the retail market top seven companies that mainly contributed to the turnover were, Lanka IOC Rs 225 million (785,000 shares traded), Expolanka Holdings Rs 173 million (800,000 shares traded), CIC Holdings (Voting) Rs 153 million (1.7 million shares traded), CIC Holdings (Non- Voting) Rs 118 million (1.7 million shares traded), LOLC Finance Rs 82.3 million (9.3 million shares traded), Lanka Wall Tiles Rs 72.4 million (862,000 shares traded) and ACL Cables Rs 66.8 million ( 582,000 shares traded). During the day 99.4 million share volumes changed hands in 25000 transactions.
Aberdeen Holdings, a diversified conglomerate based in Sri Lanka, sold 5 per cent of its stake in Expack Corrugated Cartons for Rs. 282.5 million with a total of 16.6 million shares changing hands via 118 trades. Prices ranged from Rs. 17 to Rs. 17.60 per share. In total 21.2 million shares changed hands via 978 trades for Rs. 363 million.
The sale of Expack shares comes in the form of a strategic rebalancing of the investment portfolio of Aberdeen Holdings. Yesterday the Central Bank- announced US dollar buying rate was Rs 359.16 and the selling rate Rs 369.91. The rupee rate has become stable against the US dollar due to the Central Bank’s prudential economic policies, financial sources said.
Business
Cabinet approves CECB as consultant for renovation of the Karainagar boat yard project

The Cabinet of Ministers has approved the proposal presented by the Minister of Fisheries, Aquatic and Marine Resources to seek the services of the Central Engineering Consultancy Bureau as a consultant for the renovation of the Karainagar boat yard project and allocate 40 million rupees from the Treasury for the expenditure to be borne by the Government of Sri Lanka.
[A memorandum of understanding was signed by the President during his official visit to India in December 2024. , to obtain a grant from the Government of India for the renovation of the Karainagar Boat Yard
According to the MOU, the responsibility of providing the technical consultancy service for the project and exempting the goods and equipment related to the grant from taxes has been assigned to the government of Sri Lanka.]
Business
‘Transformative infrastructure’ installed at Colombo West International Terminal

In a landmark move for Sri Lanka’s logistics landscape, EFL Project Logistics has completed a critical phase of deliveries for the Colombo West International Terminal (CWIT), a transformative infrastructure project poised to reshape the country’s role in global maritime trade.
CWIT—a collaboration between Adani Ports and SEZ Ltd (51%), John Keells Holdings and the Sri Lanka Ports Authority—is set to be the island’s first fully automated deep-water terminal. As it gears up for full commercial operations in 2025, the recent arrival of high-tech port handling equipment marks a key economic inflection point for Sri Lanka.
Speaking exclusively to The Island Financial Review on the impact, Mohamed Niyas, General Manager – Project Logistics at EFL, said, “The logistics we executed for CWIT are more than just cargo movements; they are catalysts for economic transformation. These deliveries—ranging from electric inter-terminal trucks to automated gantry cranes—are essential to positioning Sri Lanka as a sustainable, high-capacity transshipment hub.”
Among the highlights of the operation were 62 state-of-the-art Sany electric trucks and massive quay and gantry cranes, representing not only a technical leap but also a green one. These advancements contribute to CWIT’s eco-efficient design and bolster Colombo’s capacity to handle up to 15 million TEUs by 2026.
Economically, the development of CWIT—and EFL’s role in its expedited setup—signals a push for increased foreign direct investment, enhanced export competitiveness and job creation across the logistics and engineering sectors. As Niyas emphasized, “We are not just helping move cargo; we are enabling national economic value. Every successful delivery brings us closer to a future where Sri Lanka is a leading player in the South Asian maritime corridor.”
With global shipping routes evolving and automation driving next-gen port operations, CWIT is seen as a strategic asset for long-term growth. EFL’s role in the project showcases the kind of logistics innovation necessary to support this ambition—efficient, sustainable and globally competitive.
By Ifham Nizam
Business
Marine Tourism Roadmap for Sri Lanka launched by SLTDA

Sri Lanka marked a major milestone in its tourism development efforts with the official launch of the Marine Tourism Roadmap on April 10 in Colombo. This initiative, led by the Sri Lanka Tourism Development Authority (SLTDA) with support from the Asian Development Bank (ADB) under its technical assistance program TA9881 SRI: Supporting Tourism Resilience, lays the groundwork for a new chapter in tourism and the nation’s blue economy.
The Marine Tourism Roadmap was developed through an extensive process of data collection, stakeholder consultations and site visits conducted by the ADB appointed international consultant together with officials of the SLTDA. The final validation of the Roadmap was done by the Marine Tourism Steering Committee, which included representatives from key marine related public and private sector institutions. International expertise was provided by Ms. Aleksandra Dragozet (CEO & Founder – Sea Going Green), ADB’s appointed marine tourism consultant, whose guidance ensured the strategy aligned with global best practices for sustainable tourism. The SLTDA officials, Dr. Prasad Jayasuriya, Director-Tourism Planning, Development & Investments and S Dadeepan, Assistant Director-Tourism Planning & Development coordinated all meetings, site visits and activities with relevant stakeholders and the Steering Committee.
The Marine Tourism Roadmap emphasizes a balanced approach between conservation and economic development, promoting eco-friendly activities such as diving, snorkeling, ship wreck diving and marine wildlife watching. These activities are designed to support local livelihoods while safeguarding Sri Lanka’s rich marine biodiversity, particularly coral reefs, marine mammals, and fragile coastal habitats that face increasing environmental pressure. The strategy outlines two categories of coastal destinations: areas covering Kalpitiya through Galle to Trincomalee, which possess established marine tourism industries; and areas covering Mannar, Jaffna and the North-Eastern coastal belt, which are recognized for their emerging tourism potential. Notably, Sri Lanka’s ocean territory is nearly seven times larger than its landmass, highlighting the vast, untapped opportunities for marine-based tourism. The roadmap presents both short-term and long-term implementation strategies, aiming to develop sustainable marine tourism infrastructure, enhance visitor experiences, and ensure the protection and resilience of marine ecosystems in the years ahead.
The Roadmap itself was the result of collaboration among stakeholders covering coastal areas of Negombo, Kalpitiya, Mannar, Jaffna, Mullativu, Trincomalee and Galle and also the Steering committee members representing 18 key marine related public and private sector institutions including Presidential Secretariat, Ministry of Tourism and the SLTDA. This unified approach ensured that the document reflects the diverse perspectives of stakeholders directly involved in marine and coastal tourism development.
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