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IMF tax recommendations bring bourse down low

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By Hiran H.Senewiratne

CSE activities were down yesterday due to new taxes having been recommended by the IMF, which would likely come into force after the November budget. Besides, negotiations with private creditors on the debt restructuring exercise are yet to commence, market analysts said.

However, the government expects to sign a Memorandum of Understanding with bilateral creditors on the debt restructuring exercise during the course of June as part of the IMF recommendations.

Due to political uncertainties market activities were dull coupled with the impact of short trading days this month. Amid those developments both indices moved downwards. The All Share Price Index went down by 50.25 points while S and P SL20 declined by 24.6 points. Turnover stood at Rs 1.85 billion with four crossings.

Those crossings were reported in HNB, which crossed on 1.1 million shares to the tune of Rs 220.50 million; its shares traded at Rs 200, JKH 1 million shares crossed for Rs 204 million; its shares traded at Rs 204, Hayleys Fabrics 1 million shares crossed to the tune of Rs 45 million; its shares traded at Rs 45 and Richard Pieris 1 million shares crossed for Rs 20 million; its shares traded at Rs 20.

In the retail market top seven companies that mainly contributed to the turnover were; JKH Rs 421 million (1 million shares traded), NTB Rs 140 million (1.04 million shares traded), HNB Rs 115 million (575,000 shares traded), JAT Holdings Rs 77.7 million (3.7 million shares traded), Hayleys Fabrics Rs 77.5 million (1.7 million shares traded), Renuka Hotel Rs 47 million (472,000 shares traded) and Hayleys Rs 37 million (356,000 shares traded). During the day 38.7 million share volumes changed hands in 10097 transactions.

Further, JAT Holdings added a new binding plant to increase its production capacity, creating some buying pressure for those stocks. Accordingly, its share price rose by five percent or Rs 1.10. Its last trading price was Rs 21.70 and at the end of the day it moved to Rs 21.70.

Yesterday the rupee opened at Rs 304.30/55 to the US dollar, while bond yields were broadly stable, and stocks opened 0.02 percent up, dealers said. The rupee closed at Rs 304.00/15 to the greenback on Friday, before the long weekend.

In the secondary market, yields were broadly stable, dealers said. A bond maturing on 15.12.2026 was quoted at 10.10/30, up from 10.05/30 percent. A bond maturing on 01.07.2028 was quoted at 11.05/30 percent, up from 11.05/20 percent. A bond maturing on 15.09.2029 was quoted stable at 11.80/85 percent. A bond maturing on 01.10.2032 was quoted at 11.95/12.10 percent, down from 12.00/10 percent.



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SLEIS 2026 to examine Sri Lanka’s energy transition and its implications

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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).

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A fresh chapter for the George Keyt Foundation: A renewed commitment to the Sri Lankan art ecosystem

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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”.

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Sun Siyam Pasikudah celebrates World Tourism Day with culture, cuisine and community

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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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