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Hopes of successful debt restructuring bring share market stability

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By Hiran H.Senewiratne

The stock market bounced back yesterday and is stable as investors are hoping for a positive response on the debt restructuring front from IMF officials in New York over the weekend.

The market performance was positive and stable for the 12th consecutive day. Due to that, both indices moved upwards. The All Share Price Index went up by 108.6 points while S and P SL20 rose by 41.5 points. Turnover stood at Rs 6 billion with nine crossings.

Those crossings were reported in JKH where 25 million shares crossed to the tune of Rs 527 million and its shares traded at Rs 21.10, Melstacorp 1.1 million shares crossed for Rs. 118.8 million; its shares traded at Rs 108, Ceylinco Insurance 34000 shares crossed for Rs 102 million; its shares traded at Rs 3000, LOLC Holdings 100,000 shares crossed for Rs 65 million; its shares traded at Rs 550, Aitken Spence 400,000 shares crossed for Rs 51.2 million; its shares traded at Rs 128, Sampath Bank 412,000 shares crossed for Rs 41.6 million; its shares sold at Rs 101, Hemas Holdings 247,000 shares crossed to the tune of Rs 22.7 million; its shares sold at Rs 92, Ambeon Capital 1 million shares crossed to the tune of Rs 22.4 million; its shares traded at Rs 22.40, and Access Engineering 737,000 shares crossed for Rs 21.9 million; its shares fetched Rs 30.

In the retail market, the top companies that mainly contributed to the turnover were; JKH Rs 508 million (24 million shares traded), LOLC Holdings Rs 345 million (637,000 shares traded), PickMe Rs 292 million (4.5 million shares traded), Dialog Axiata Rs 255 million (23.7 million shares traded), Vallibel One Rs 166 million (2.8 million shares traded) and Sampath Bank Rs 164 million (1.6 million shares traded). During the day 249 million share volumes changed hands in 30200 transactions.

It is said that the manufacturing sector was the main contributor to the market, especially because of JKH, which contributed one sixth of the turnover. Like the previous day, LOLC Group companies were also active. .

Yesterday, the rupee opened stronger at Rs 290.25/30 to the US dollar from Rs 290.30/35 to the US dollar on the previous day, dealers said, while bond yields were steady.

A bond maturing on 15.10.2027 was quoted at 9.90/10.00 percent, from 9.90/10.05 percent. A bond maturing on 15.02.2028 was quoted at 10.35/45 percent. A bond maturing on 15.09.2029 was quoted at 10.85/92 percent, from 10.80/95 percent. A central bank auction of Rs. 206,000 million Treasury bills was ongoing. An auction of 132,500 million Treasury Bonds is to be held on Thursday.



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“ViYASA” National Business Facilitation Centre (NBFC) to be opened tomorrow (22)

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The National Business Facilitation Centre (NBFC), which is being established under the Presidential Secretariat with the aim of removing administrative and regulatory barriers that exist among government institutions in relation to investment and industry and expediting these processes, will be opened tomorrow (22).

The centre is being established on the President’s initiative with the aim of bringing about a positive transformation in the industrial sector. The centre will provide solutions to issues that arise in dealing with the government machinery when starting and operating a business, while also coordinating with the relevant government institutions to provide the necessary facilities.

The “ViYASA” National Business Facilitation Centre (NBFC) has been established at Building C-80, Hector Kobbekaduwa Mawatha, Colombo 07, and is headed by Senior Additional( Secretary to the President, Seevali Arukgoda.

The centre will be opened under the patronage of Minister of Labour and Deputy Minister of Finance and Planning Dr Anil Jayantha Fernando and Minister of Industry and Entrepreneurship Development Sunil Handunnetti, with the participation of Secretary to the President Dr Nandika Sanath Kumanayake.

The website https://nbfc.presidentsoffice.gov.lk is also scheduled to be officially launched on the occasion.

President’s Media Division)

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Charting a worker-centered AI future: Colombo hosts landmark ITF conference

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The ITF’s first-ever AI-focused global conference and the first of its kind hosted in Sri Lanka

By Sanath Nanayakkare

Artificial intelligence and automation present serious challenges for workers – such as job consequences seen in docks and rail systems – and emphasises that workers cannot simply stop technological progress. By gathering young trade unionists in Sri Lanka, the ITF aims to establish key principles for engaging with technology, ensuring workers have a strong voice at the bargaining table, and encouraging constructive social dialogue with corporations and governments.

These compelling words from ITF General Secretary Stephen Cotton underscored the urgent reality facing modern labor as rapid technological advancements sweep across global industries.

Confronting this shifting landscape head-on, the International Transport Workers’ Federation (ITF), in partnership with the National Union of Seafarers of Sri Lanka (NUSS), convened a ground-breaking conference on artificial intelligence in Colombo from September 15–17.

As the ITF’s first-ever AI-focused global conference and the first of its kind hosted in Sri Lanka, the landmark event marked a critical milestone in balancing technological innovation with worker-centered safeguards.

Representing over 16.6 million transport workers worldwide, the ITF designed the gathering to tackle the multifaceted impacts of AI on safety, operations, workforce development, and governance. Rather than resisting progress, the conference focused on proactive engagement, establishing guiding principles to protect workers’ rights and privacy both at sea and on land.

Key discussions centred on sharing best practices for upskilling and reskilling transport personnel, ensuring that human oversight remains central to AI-driven logistics, routing, and maintenance.

Reflecting on the historic nature of the event, Boa Athu, CEO of National Union of Seafarers Asia Pacific, noted that the conference represented a monumental moment as AI emerges as a permanent fixture of contemporary life.

Highlighting NUSS’s pride in hosting the event in Colombo, Athu emphasised that AI offers transformative potential when guided by strong social dialogue, equitable access to training, and robust governance safeguards.

Ultimately, the Colombo conference demonstrated that the future of transport must be shaped by those who keep the world moving. By uniting international labour leaders, affiliates, port operators, and regulators, the event laid a vital foundation for inclusive policy frameworks that champion fair labour standards, securing a powerful voice for workers in an automated tomorrow.

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Bridging the digital divide: Sri Lanka’s airport licence challenge

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As tourism surges from digitally advanced markets like India, modern independent travelers arriving at BIA find themselves caught in a mismatch between cloudstored credentials and local paper-based transport protocols.

By Sanath Nanayakkare

As Sri Lanka experiences a surge in visitors from its largest tourist market, India, a modern administrative hurdle has emerged at Bandaranaike International Airport (BIA).

While nations like India and Pakistan have successfully transitioned to fully digital driving licences and cashless ecosystems, Sri Lanka’s Department of Motor Traffic counter still requires a physical card to issue temporary local permits, The Island Financial Review learns.

This mismatch creates significant friction for independent travelers who rely entirely on smartphones and cloud-stored credentials. Tourists turned away at the airport – and sometimes redirected to the Werahera office in vain – find themselves unable to legally rent and drive vehicles. Consequently, this policy gap harms local car rental operators, causes tourist frustration, and deprives the government of valuable permit revenue.

The situation highlights a distinct irony: Sri Lankan motorists easily travel abroad using International Driving Permits that are readily accepted in India and Pakistan, yet local infrastructure cannot reciprocate due to outdated verification systems.

Recognizing the problem, Department of Motor Traffic officials have noted that upgrades and new equipment are currently in the works to integrate foreign digital platforms.

For a nation aggressively pursuing a national digitalisation drive, rapidly modernising these transport protocols is essential to keeping pace with global travelers and unlocking the full potential of its tourism economy.

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