Business
Heavy buying interest in Lanka IOC stocks; exponential sales growth predicted
By Hiran H.Senewiratne
CSE shares slipped in mid-day trade yesterday after gaining for five straight sessions. But at the beginning profit- takings were noted in LOLC Group counters and heavy buying interest was witnessed in Lanka IOC stocks because investors are anticipating an exponential sales growth in the company, market analysts said.
“We are seeing investors shift to new shares that gained in the past few sessions from the heavy weights, an analyst said. Further, the stock market remained positive with a healthy activity level and continuous buying by foreigners with net inflows topping the Rs. 1 billion mark in the first three market days of September.
Both indices were down. The main All- Share price Index (ASPI) declined by 36.06 points (0.38 per cent) to end the day at 9330.33 and S and P SL20 declined by 32.37 points (1.07 per cent) to end the day at 2998.19. The turnover stood at Rs 4.1 billion with a single crossing. The crossing was reported in Kelsey Development, which was crossed 3.4 million shares to the tune of Rs 181 million and its shares traded at Rs 24.60.
In the retail market top seven companies that mainly contributed to the turnover were, Lanka IOC Rs 1.2 billion (5.2 million shares traded), Expolanka Holdings Rs 367 million (1.6 million shares traded), LOLC Finance Rs 260 million (26.5 million shares traded), CIC Holdings (Voting) Rs 206 million ( 2.6 million shares traded), CIC Holdings (Non-Voting) Rs 191 million (3.2 million shares traded), Lion Brewery Rs 158 million (301000 shares traded) and Agsta PLC Rs 149 million (nine million shares traded).
The bourse witnessed yet another day of gains as investors confidently rallied with perceptible interest on Lanka IOC which led the market as investors reacted positively. During the day the market heavy weight Lanka IOC share price gained by 10 per cent or Rs 21. Its shares moved to Rs 223.25 from Rs 202.25. During the day 129 million share volumes changed hands in 35000 share transactions.
It is said high net worth and institutional investor participation was noted in some stocks. Mixed interest was observed in Lanka IOC, Agsta and CIC Holdings while retail interest was noted in LOLC Finance, Browns Investments and Co-Operative Insurance Company.
Diversified Financials sector was the second highest contributor to the market turnover (due to LOLC Finance), while the sector index increased by 3.04 per cent. The shares of LOLC Finance gained Rs. 1.70 (19.10 per cent) to close at Rs. 10.60.
Yesterday, the Central Bank announced its dollar buying rate as Rs 358.05 and the selling rate as Rs 369.02.
Business
SLEIS 2026 to examine Sri Lanka’s energy transition and its implications
Reliable and affordable energy is essential to Sri Lanka’s economic growth, industrial development and competitiveness. As the country seeks to strengthen energy security while reducing its dependence on fossil fuels, the energy sector will be a key area of discussion at the Sri Lanka Economic & Investment Summit 2026, organised by The Ceylon Chamber of Commerce on 12-13 October 2026.
The session, “Beyond Fossil Dependence: Balancing Security, Sustainability, and Growth,” will examine how Sri Lanka can diversify its energy sources, accelerate renewable energy adoption and attract investment while ensuring a reliable energy supply for businesses and households. Discussions will also consider the infrastructure and policy frameworks needed to support the country’s transition towards a modern and competitive energy system.
Ms. Edore Onomakpome – Regional Infrastructure Industry Manager – Bangladesh, Sri Lanka and Nepal, at the International Finance Corporation will keynote the session, and join the panel discussion featuring G.M.R.D. Aponsu – Secretary to the Ministry of Energy, Damitha Kumarasinghe – Director General (Chief Executive Officer), Public Utilities Commission of Sri Lanka, and Manjula Perera – Managing Director, WindForce PLC. The discussion will be moderated by Sheran Fernando – Senior Advisor, Plus94.
The session will also explore the role of public-private collaboration in developing new energy solutions, encouraging investment and creating opportunities within Sri Lanka’s evolving energy sector. It will consider how energy policy and investment decisions can support both economic expansion and the country’s longer-term sustainability objectives.
The Sri Lanka Economic & Investment Summit 2026 is supported by its valued sponsors and partners. Platinum Sponsor – Standard Chartered Bank Sri Lanka, Gold Sponsor – VISA Worldwide (Pvt) Ltd., Bronze Sponsor – South Asia Gateway Terminals (Pvt) Ltd., Strategic Development Partner – Asian Development Bank, Telecommunication Partner – Dialog Telecommunication, Television Partner – Dialog Television, Session Sponsors – David Pieris Motor Company (Pvt) Ltd., Hemas Holdings PLC, Sunshine Holdings PLC, International Construction Consortium (Pvt) Ltd., Official Logistics Partner – Hayleys Advantis Limited, Official Airline – SriLankan Airlines Ltd., Official Hospitality Partner – Shangri-La Colombo, Airline Partner – China Eastern Air Holding Co. Ltd.
Registrations are now open at https://sleis.chamber.lk/. For more information, contact Alikie on 011 558 8805 (alikie@chamber.lk) or Shanuka on 0701082541 (events.division@chamber.lk).
Business
A fresh chapter for the George Keyt Foundation: A renewed commitment to the Sri Lankan art ecosystem
The George Keyt Foundation (GKF), dedicated to preserving the legacy of modernist painter George Keyt and fostering local art, has announced strategic appointments to its leadership team, bringing together a mix of global academic expertise, corporate leadership, and artistic passion. These enhancements aim to inject fresh expertise and academic depth into the Foundation’s long-term vision.
Establishment of the New Advisory Committee
To broaden its operational reach and deepen its engagement with the global art market, the George Keyt Foundation has established an Advisory Committee. The newly appointed committee members include:
• Dr Sujatha Meegama is a Senior Lecturer in Buddhist Art History at the Courtauld. She is an acclaimed art historian, author and academic, bringing specialised knowledge in South Asian art history to guide the foundation’s curatorial and educational directives.
• Dr Shamil Wanigaratne: A clinical psychologist, author, and avid art historian, Shamil will lend his unique perspective to help the foundation design meaningful public outreach and cultural preservation strategies.
• Abbas Esufally: A veteran corporate leader and patron of the arts, Abbas is transitioning from his role as a GKF Trustee to this advisory position, where he will continue to offer his sharp business acumen and extensive network.
New Trustee Appointment
Leesha Captain has been appointed to the Board of Trustees. Inspired by Sri Lankan artists, Leesha is a recognised supporter of the local art scene. Leesha’s hands-on perspective will strengthen the foundation’s core team as they develop and design new art programs.
A Vision for the Future
“These new appointments mark an exciting chapter for us as we build on our decades-long history of promoting Sri Lankan artists,” says Malaka Talwatte, Chairman of the Foundation. “The combination of Leesha on the board, alongside the diverse expertise of our new Advisory Committee, will significantly amplify our efforts in curating high-profile exhibitions and expanding local and international partnerships”.
Business
Sun Siyam Pasikudah celebrates World Tourism Day with culture, cuisine and community
Sun Siyam Pasikudah, part of the Privé Collection under Maldivian-owned Sun Siyam Resorts, will mark World Tourism Day on 27 September 2026 with a full day programme celebrating the culture, cuisine and natural beauty of Sri Lanka’s east coast, paired with community focused sustainability activities.
The celebrations open with a special buffet of authentic Sri Lankan cuisine, followed by a street food festival showcasing regional snacks and traditional sweets rarely found on resort menus. A signature World Tourism Day mocktail and cocktail, created for the occasion, will be served through the day, while traditional Sri Lankan cultural dance performances bring the island’s heritage to life for guests.
Beyond the festivities, the resort has planned a tree planting activity with guests and a beach or park clean up campaign, both reflecting Sun Siyam Pasikudah’s ongoing commitment to responsible tourism along Sri Lanka’s northeast coast.
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