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IMF chief’s positive comments on bailout boost CSE

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By Hiran H. Senewiratne

CSE trading was extremely bullish yesterday in the early part of the session after IMF Managing Director Kristalina Georgieva remarked positively on the progress made by the Sri Lankan authorities in taking decisive policy actions to obtain financial assurances from all their major creditors, including China, India and the Paris Club.

During the latter part of the day, profit- takings were witnessed but the stock market ended on a positive note though with mixed reactions, market analysts said. The main All -Share Price Index (ASPI) rose by 4.92 points, while the S&P SL20 was down by 5.53 points.

Turnover is pretty strong and investors are waiting for firmer responses and are jumping in to invest while the sentiments last. The turnover stood at Rs 3.27 billion with five crossings. Those crossings were reported in Hayleys, where 4 million shares crossed to the tune of Rs 309 million, its shares traded at Rs 77, HNB 1.9 million shares crossed for Rs 253 million and its shares traded at Rs 135, Expolanka Holdings 200,000 shares crossed to the tune of Rs 30 million, its shares traded at Rs 150, LB Finance 400,000 shares crossed for Rs 22.4 million, its shares fetched Rs 56 and Hayleys Fabrics 825,000 shares crossed to the tune of Rs 20.6 million , its shares traded at Rs 25.

In the retail market top seven companies that mainly contributed to the turnover were, HNB Rs 287 million (2.1 million shares traded), JKH Rs 170 million (1.2 million shares traded), Capital Alliance Rs 135 million (3.8 million shares traded), Expolanka Holdings Rs 134 million (895,000 shares traded), Hayleys Rs 114 million (1.46 million shares traded), Sampath Bank Rs 95.2 million (1.65 million shares traded) and ACL Cables Rs 94.2 million (1.1 million shares traded). During the day 108 million share volumes changed hands in 27000 transactions.

During the day there had been significant interest in the banking and financial sector.

HNB had been doing significantly well due to the index being heavily undervalued as other banks and financial institutions have been rerated upwards, piling-up investors for HNB, an analyst said.

In the bond market bond yields were down in the mid-day trade on Wednesday as results of a bill auction awaited, dealers said.

A bond maturing on 01.07.2025 was quoted at 30.75/90 per cent on Tuesday, down from 31.40/70 percent on Friday. A bond maturing on 15.05.2026 was quoted at 27.20/28.20 per cent, down from Friday’s close at 28.10/30 per cent. A bond maturing on 15.09.2027 was quoted at 26.95/27.10, down from 28.00/30 per cent.

Yesterday the Central Bank’s US dollar buying rate was Rs 313.77 and the selling rate Rs 331.05. Further, it is quite visible that the rupee is appreciating against the US dollar.



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Ceylon Chamber’s Investment Summit 2026 to steer Sri Lanka beyond stabilisation

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President Anura Kumara Dissanayake will inaugurate the Sri Lanka Economic and Investment Summit 2026 today, at the Shangri-La Colombo

Sri Lanka’s national economic discourse takes center stage today as the country’s premier private-sector body, The Ceylon Chamber of Commerce, hosts the Sri Lanka Economic & Investment Summit 2026 at the Shangri-La Colombo.

Convening on October 12 and 13, the two-day summit brings together an influential gathering of senior policymakers, international financiers, multilateral development partners, and private-sector captains to chart the island’s next phase of macroeconomic growth.

Held under the theme “Positioning Sri Lanka in a Changing Global Economy: Resilience, Reform, and the Future of Economic Policy,” this year’s forum marks a critical inflection point in the nation’s post-crisis trajectory.

As Sri Lanka shifts its emphasis from immediate financial stabilization toward sustainable, long-term expansion, the summit aims to address the structural imperatives necessary to secure high-impact foreign direct investment (FDI), deepen regional trade integration, and unlock emerging sectors of economic activity.

The core agenda over the two days focuses on building resilience across volatile global market cycles while executing targeted policy reforms. Key working sessions will examine:

Regional Value Chains & Trade Integration: Leveraging Sri Lanka’s strategic Indian Ocean geography to capture higher-value export flows and commercial linkages.

Energy & Infrastructure Transformation: Accelerating renewable energy integration and modernizing national utility policy.

Digital Economy & Public Modernization: Deploying digital technologies across public administration and financial services to enhance operational efficiency and transparency.

Sectoral Priorities: Modernizing healthcare infrastructure and agricultural value-addition to build a robust domestic economic base.

A defining feature of this year’s summit is the strong convergence between state policy and global commercial expertise. Keynote addresses and panel discussions will feature prominent leaders, including Prime Minister Dr. Harini Amarasuriya and T. Krishnakumar, Chief Executive Officer of Reliance Consumer Products Ltd.

They will be joined by senior delegations and policy experts from major global institutions, including:

= The Asian Development Bank (ADB)

= The International Finance Corporation (IFC)

= Standard Chartered Bank

= Zydus Lifesciences

The active participation of the country’s highest executive and legislative leadership across both days underscores a clear policy commitment to private-sector-led growth. By establishing a direct, high-level platform for dialogue between investors and policymakers, the Ceylon Chamber’s summit seeks to refine regulatory frameworks, improve the ease of doing business, and establish a clear, predictable environment for capital formation in the years ahead.

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White House blocks Microsoft from foreign worker hiring programme

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The White House has often made extreme claims regarding international workers and immigration

Microsoft and several other technology firms have been barred by the White House from hiring skilled international workers on a permanent basis through a widely used visa programme.

US Vice-President JD Vance on Thursday accused Microsoft alongside other firms of committing fraud through the use of the H-1B visa programme and a related process for workers from abroad to become permanent US residents.

Vance claimed that Microsoft, one of the most valuable companies in the US, has been effectively replacing American workers with “foreign indentured servants.”

Microsoft said most of the H-1B visas filed over the last financial year were for existing workers, who are paid the same as local staff.

“No company in the US has abused this system more than Microsoft,” Vance said.

He also made similar accusations about Adobe, Cognizant, Infosys, Tata, Wipro, HCL and Capgemini.

The US government will not process any new or pending Permanent Labor Certification Program (PERM) applications from Microsoft or the seven other companies, Secretary of Labor Keith Sonderling said during the same conference.

Sonderling said companies like Microsoft, as well as US universities, have turned into “visa mills” that were “flooding” the US with foreign workers.

The BBC has contacted all of the companies for comment.

The total number of H-1B visas, a precursor to anyone seeking to go through the PERM process, is capped at 85,000 per year.

A spokeswoman for Microsoft noted to the BBC that “the vast majority of Microsoft employees in the United States are Americans.” The company employs more than 200,000 people worldwide.

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ComBank unites stakeholders to prepare agri sector for El Niño

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El Nino awareness programmes conducted by the Bank

In response to emerging climate risks, the Commercial Bank of Ceylon has launched a proactive initiative through its Development Credit Department, to equip Sri Lanka’s agricultural sector against the potential impacts of the 2026 El Niño climate pattern.

Seeking to move the industry from reactive loss management to early climate preparedness, the Bank partnered with leading state universities to execute a two-part educational and technological intervention in September 2026.

The initiative comes at a critical juncture. Sri Lanka’s Department of Meteorology reported an 80% probability of El Niño conditions emerging between June and August 2026, with effects expected to persist through November and beyond. As highlighted by the Food and Agriculture Organization (FAO), El Niño acts as a risk multiplier for rural livelihoods, food production, and water supply.

To mitigate these threats, the Bank’s initiative creates a collaborative network uniting academic institutions, agricultural extension services, technology providers, farming communities, and the financial sector. The awareness programme on El-Niño and its impact on agriculture was supported by 12 Commercial Bank branches, and engaged with more than 1,100 farmers at 15 diverse locations, including Vattapalai, Muththajankaddu, Palampas, Oddusuddan, Siyambalanduwa, Lindula, Neluwa, Kalawana, Pannala, Madampe, Mannar, Vavuniya and Kumalamunai.

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