Business
News of SL ridding itself of loan default stigma buoys bourse
By Hiran H.Senewiratne
The stock market was on a positive trajectory yesterday as most local and foreign investors eagerly looked forward to President Ranil Wickramasinghe’s statement on June 27 in Parliament to the effect that Sri Lanka would be ridding itself of the loan default stigma.
Amid those developments both indices moved upwards. The All- Share Price Index went up by 14.01 points while S and P SL20 rose by 22.17 points. Turnover stood at Rs 1.3 billion with four crossings. Those crossings were reported in People’s Leasing, which crossed 5 million shares to the tune of Rs 64.5 million; its shares traded at Rs 90, Melstacope 709,000 shares crossed for Rs 61.7 million; its shares traded at Rs 87, Distilleries 1 million shares crossed for Rs 27 million; its shares sold at Rs 27 and JKH 100,000 shares crossed for Rs 20.41 million; its shares traded at Rs 204.
In the retail market top seven companies that mainly contributed to the turnover were; JKH Rs 189 million (919,000 shares traded), Hayleys Rs 88.6 million (835,000 shares traded), NTB Rs 87 million (645,000 shares traded), Hayleys Fabrics Rs 82.3 million (1.7 million shares traded), Commercial Bank Rs 46.1 million (435,000 shares traded), LMF Rs 45.3 million (1.5 million shares traded) and Sampath Bank Rs 40.2 million (503,000 shares traded). During the day 45.2 million share volumes changed hands in 10600 transactions.
Yesterday the rupee opened weaker at Rs 305.30/50 to the US dollar, while bond yields were down and stocks opened 0.31 percent up, dealers said. The rupee closed at Rs 305.50/90 to the greenback on Thursday, ahead of a long weekend.
In the secondary market, yields were down, dealers said. A bond maturing on 15.12.2026 was quoted at 10.25/75, down from 10.35/60 percent. A bond maturing on 10.07.2028 was quoted at 11.25/50 percent. A bond maturing on 15.09.2029 was quoted at 12.05/15 percent, from 12.00/15 percent.
Business
Indo-Sri Lanka Chambers forge alliance to drive infrastructure and real estate investment
By Sanath Nanayakkare
In a major boost to bilateral economic ties, the Chamber of Construction Industry of Sri Lanka (CCISL) and the Indo–Sri Lanka Chamber of Commerce & Industry (ISCCI) have signed a strategic Memorandum of Understanding (MoU) to deepen cooperation in real estate, infrastructure, and urban development.
The agreement establishes a formal framework for both institutions to drive collaborative initiatives, including business delegations, high-level conferences, workshops, B2B matchmaking sessions, and technical site visits. Designed to bridge businesses, government institutions, and project stakeholders across the Palk Strait, the partnership aims to unlock new avenues for cross-border joint ventures and technology transfers.
A focal point of this newly minted partnership is the facilitation of an upcoming trade delegation from the National Real Estate Development Council (NAREDCO) of India. Comprising major Indian players in the real estate and infrastructure sectors, the visiting delegation will engage in targeted business meetings, workshops, and inspection tours of prominent construction projects in Sri Lanka.
Under the terms of the MoU, CCISL will serve as the principal host coordinator in Sri Lanka. In close consultation with ISCCI, the apex construction body will curate itineraries, identify viable projects for engagement, and facilitate high-level dialogues with key government agencies, regulatory bodies, and industry leaders.
With both nations prioritizing sustainable urban growth, modern construction technologies, and infrastructure expansion, industry leaders view the partnership as a timely catalyst for economic rejuvenation. The collaboration is anticipated to accelerate market access, knowledge exchange, and foreign direct investment into Sri Lanka’s burgeoning property and development sectors.
To ensure the success of the upcoming NAREDCO delegation, CCISL has issued an urgent appeal to statutory authorities and relevant project owners to come forward with viable investment proposals. Stakeholders holding projects seeking foreign investment or technical partnerships are invited to submit comprehensive details to the Secretary General and CEO of CCISL via email at secyces@gmail.com.
Both chambers emphasize that translating this foundational agreement into tangible partnerships and robust capital flows will significantly strengthen bilateral connectivity between the construction and real estate sectors of India and Sri Lanka.
Business
Hettich celebrates a decade in Sri Lanka with partner meet in Colombo
Hettich, the globally renowned German manufacturer of furniture fittings and architectural hardware known for its state-of-the-art manufacturing plants and magical interior solutions across the world celebrated a significant milestone in Sri Lanka, marking 10 years of presence in the country with its inaugural Partner Meet in Colombo.
The landmark event brought together Hettich’s key partners, stakeholders and industry leaders to celebrate a decade of growth, collaboration and shared success, while reaffirming the company’s long-term commitment to the Sri Lankan market.
Over the past decade, Hettich has strengthened its presence in Sri Lanka through its focus on German engineering, innovation, quality and functionality, contributing to the creation of contemporary and intelligently designed living and working spaces across the country.
The gala evening was graced by a distinguished delegation of senior leaders, including Dr. Andreas Hettich, Chairman, Hettich Group Advisory Board; S. K. Poddar, Chairman, Hettich India & Adventz Group; Mr. Akshay Poddar, Director, Hettich India; Andre Eckholt, Managing Director, Hettich India, SAARC, Middle East & Africa; Rahul Thakkar, Director – Sales, Hettich India & SAARC; and Dinusha Bhaskaran, Managing Director, Vallibel One PLC.
Business
GS Evo Motors launches all-new JMEV EWIND
GS Evo Motors Limited, the authorized distributor of JMEV electric vehicles in Sri Lanka, has officially launched the JMEV EWIND, a next-generation compact electric SUV. The vehicle is designed to offer strong performance, intelligent technology, premium comfort, and high safety standards, marking another milestone in Sri Lanka’s growing electric mobility sector.
The EWIND features a sleek, aerodynamic exterior with penetrating LED daytime running lights, trapezoidal chain-inspired LED tail lamps, 19-inch alloy wheels, and a bold silhouette. Inside, it offers a spacious cabin with a panoramic moonroof and retractable curtain, an ultra-thin suspended instrument panel, a D-shaped multifunction steering wheel, multi-colour ambient lighting, premium finishes, and electrically adjustable front seats.
The SUV is available in single-motor front-wheel drive configurations, producing up to 108 kW and 210 Nm, with 0–100 km/h acceleration in 8.9 seconds.
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