Business
Marginal rise in CSE trading; PM’s statement positively impacts bourse
By Hiran H.Senewiratne
CSE trading started on a positive note and during the middle of the session the bourse showed some substantial gains. The trading ended marginally up yesterday, stock market analysts said.
Prime Minister Ranil Wickramasinghe’s statement on the current economic situation in Parliament that the IMF staff level discussions will be concluded at the end of June and that the debt restructuring is likely to end in July, gave some confidence to stock market investors, market analysts added.
Prime Minister Wickremesinghe said a staff-level agreement with the International Monetary Fund and the programme for a bailout package would be finalized by the end of July.
PM Wickremesinghe also said the framework for Sri Lanka’s debt restructuring is expected to be finalized by the end of July following discussions with the financial and legal advisory firms Lazard Ltd. and Clifford Chance LLP.
A high-level government delegation from India is set to visit Sri Lanka for a discussion on possible further loan assistance, Prime Minister Wickremesinghe said.
Three officials from the Indian government will arrive in Colombo today for this meeting, Wickremesinghe told parliament. This was also a positive sign for the stock market, analysts said.
Further, the global crude oil price has also declined and the fact that a barrel of crude oil has gone down to the US$ 105 level from US $ 111 would positively impact Sri Lankan oil imports.
Amid those developments both internal and external positive developments were significantly reflected in the stock market; both indices moved upwards marginally. All Share Price Index went up by 9.97 points and S and P SL20 rose by 9.2 points. Turnover stood at Rs 690 million without any arranged transactions or crossings.
In the retail market top seven companies that mainly contributed to the turnover were Expolanka Holdings Rs 200 million (1.1 million shares traded), Browns Investments Rs 78 million (9.5 million shares traded), Royal Ceramic Rs 76.2 million (2.8 million shares traded), Vallibel One Rs 49.6 million (1.3 million shares traded), Lanka IOC Rs 43 million (638,000 shares traded), Richard Peiris Rs 21.3 million (1.8 million shares traded) and Seylan Bank Rs 14.4 million (515,000 shares traded). During the day 37.4 million share volumes changed hands in 9500 transactions.
Major sectors that contributed to the turnover were the Transport, which contributed Rs. 200 million, Capital Goods Rs 185 million and Food Beverages and Tobacco Rs 112 million.
Yesterday, the Central Bank announced its dollar rate. The buying rate was Rs 365.44 and the selling rate Rs 367.11. It is said that due to the Central Bank’s prudent monetary management the rupee also showed some appreciation.
Business
Ceylon Chamber’s Investment Summit 2026 to steer Sri Lanka beyond stabilisation
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.
Business
White House blocks Microsoft from foreign worker hiring programme
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.
Business
ComBank unites stakeholders to prepare agri sector for El Niño
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.
-
Features4 days agoThe Sri Lankan who made Scottish history
-
Features6 days agoPreventing grievances from becoming communal
-
Sports4 days agoNissanka absence opens door for Sri Lanka’s young guns
-
News5 days agoGnansara Thera to be assigned to prison printing section: Officials
-
News3 days agoNDB fraud Rs 60mn more than reported
-
News3 days agoRemoving monk’s robes matter for Sangha to decide: Mahanayake Theras
-
Features4 days agoFuture of Sri Lanka’s state university system: Should it be shut down and reopened?
-
News5 days agoOIC of FCID summoned before Maligakanda Magistrate
