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Panic grips Asian stock markets as US President slaps fresh global tariffs

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CSE trading was upbeat yesterday at the outset but later was hit by panic as US President Donald Trump threatened a 15 percent tax under a separate law or laws, according to analysts.

The US Supreme Court ruled in a 6-3 judgment recently that Trump did not have the authority to impose ad hoc tariffs citing a national emergency under the International Emergency Economic Powers Act (IEEPA), thus negatively impacting Asian stock markets, including the CSE.

The All Share Price Index went up by 9.38 points, while the S and P SL20 rose by 21.72 points. Turnover stood at Rs 2.5 billion with seven crossings. Those crossings were reported in Chevron Lubricants where 617,686 shares crossed to the tune of Rs 123.5 million; its shares traded at Rs 200, Melstacorp 400,000 shares crossed for Rs 72.8 million; its shares traded at Rs 182, LOLC 99,900 shares crossed for Rs 57 million; its shares traded at Rs 572, Royal Ceramics 748,000 shares crossed for Rs 37.7 million; its shares sold at Rs 50.40, Commercial Bank (Non Voting) 100,000 shares crossed for Rs 20.9 million; its shares sold at Rs 209, Dialog Axiata 634,000 shares crossed for Rs 20.7 million; its shares sold at Rs 32.70 and HNB 44000 shares crossed for of Rs 20 million; its shares fetched Rs 457.

In the retail market companies that mainly contributed to the turnover were; Prime Residencies Rs 191 million (3.5 million shares traded), HNB Rs 131 million (330,000 shares traded), Lee Hedges Rs 84.8 million (310,000 shares traded), Agstar Rs 83.6 million (7.1 million shares), Access Engineering Rs 83 million (1.1 million shares traded), Sampath Bank Rs 82 million (506,000 shares traded) and HNB Rs 52 million (114,000 shares traded). During the day 93.4 million share volumes changed hands in 30318 transactions.

It is said that banking, manufacturing, real estate and telecommunication sectors performed well. In the banking sector, HNB and Commercial Bank performed well. Real estate and real estate related companies also performed well.

Yesterday the rupee was quoted at Rs 309.35/40 to the US dollar in the spot market, from Rs 309.35/45 Friday, dealers said, while bond yields were broadly steady on the longer tenors and slightly higher on the shorter tenors.

For example;

A bond maturing on 15.02.2028 was quoted at 8.96/9.06 percent.

A bond maturing on 15.12.2029 was quoted at 9.45/55 percent, up from 9.48/53 percent.

A bond maturing on 01.03.2030 was quoted at 9.50/60 percent.

The telegraphic transfer rates for the American dollar were 305.8500 buying, 312.8500 selling; the British pound was 412.6211 buying, and 424.0687 selling and the euro was 359.4611 buying, 370.9823 selling.

By Hiran H Senewiratne



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SLTDA launches NTSP campaign to elevate national tourism quality and standards

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Tourism top officials at Ella programme launch.

by Claude Gunasekera

The Sri Lanka Tourism Development Authority (SLTDA) officially launched its nationwide capacity-building campaign, “Grow your Tourism Business with National Tourism Skilling Programme (NTSP),” August 31, from the scenic regional hub of Ella. Directed under the leadership of the Tourism Deputy Minister, Prof. Ruwan Ranasinghe, the comprehensive initiative aims to transform micro, small, and medium enterprises (MSMEs) by accelerating their digital readiness and business formalization across the local hospitality ecosystem.

The entire islandwide operation is under the direct coordination of Ms. Tharanga Rupasinghe, the SLTDA Director of Standards and Quality Assurance, ensuring that all rural operators align seamlessly with international hospitality standards. By utilizing the framework of the NTSP, the campaign focuses on delivering essential digital payment tools, modern online marketing insights, and compliance frameworks directly to village-level enterprises, handcraft artisans, and independent tour operators. Speaking at the launch event in Ella, Tourism Deputy Minister Prof. Ruwan Ranasinghe emphasised that sustainable growth in the travel sector relies heavily on empowering smaller stakeholders to become resilient, data-driven participants in the modern market. “True economic resilience in our tourism sector cannot be achieved through large-scale infrastructure alone, but must be built from the ground up by transforming our local communities and regional MSMEs into direct, digitally enabled beneficiaries of global travel traffic,” Prof. Ranasinghe noted. Through this synchronized, localized training approach, the SLTDA intends to systematically protect cultural heritage while elevating the service quality benchmarks of regional travel hotspots nationwide.

Regional hospitality groups, led by the Ella Tourism Association, have strongly welcomed the launch of the SLTDA national skilling campaign, calling it a vital step toward safeguarding the destination’s international reputation. Local operators noted that rapid commercial growth in the Uva Province has highlighted an urgent need for structural standardization, making the arrival of the National Tourism Skilling Programme (NTSP) highly timely. The grassroots response focused heavily on the benefits of formalization and digital integration for the region’s diverse service sector. The Ella Homestay Owners Collective praised the focus on digital payment tools, noting that transition support will help smaller vendors capture direct bookings and reduce their reliance on third-party booking commissions.

The Uva Tuk-Tuk and Adventure Guides Association highlighted that the safety and compliance training will build trust with high-spending international travelers, effectively raising service quality benchmarks across the town. Local association leaders emphasized that having Ms. Tharanga Rupasinghe, SLTDA Director of Standards and Quality Assurance, directly coordinate the field training ensures the program addresses practical, local challenges rather than just theoretical rules. Following the initial rollout, regional committees have pledged to work alongside the SLTDA to ensure that even the smallest village artisans and micro-enterprises achieve official registration, positioning Ella as a model hub for high-quality, community-driven sustainable tourism.

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Sri Lanka–Indonesia Business Council holds 3rd Annual General Meeting

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Newly Appointed Executive Committee of SLIBC for the year 2026/2027

The Sri Lanka–Indonesia Business Council of The Ceylon Chamber of Commerce held its 3rd Annual General Meeting recently, bringing together Council members and key stakeholders to review the Council’s activities and priorities for the year ahead. The AGM was graced by Dewi Gustina Tobing, Ambassador of Indonesia to Sri Lanka and Patron of the Council

Delivering her address, Dewi Gustina Tobing, Ambassador of Indonesia to Sri Lanka, provided a comprehensive overview of Indonesia’s political and economic landscape, highlighting the country’s focus on promoting economic independence, strengthening sectoral resilience, improving public welfare, and facilitating both inbound and outbound investment.

Re-elected as President of the Council for 2026/27, Sheamalee Wickramasingha, Chairman / Group Managing Director of Ceylon Biscuits Ltd. acknowledged the instrumental role played by the Ambassador in the re-establishment of the Council and reflected on the Council’s key achievements during the past year. She highlighted the successful Sri Lanka–Indonesia Business Delegation to Indonesia, which provided valuable opportunities for Sri Lankan businesses to engage with Indonesian counterparts and explore avenues for commercial cooperation.

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LAUGFS Supermarkets opens 46th outlet in Kotahena

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LAUGFS Supermarkets has further strengthened its growing retail presence with the opening of its 46th outlet at No. 78, K.B. Christy Perera Mawatha, Kotahena. The new outlet operates 24 hours a day, offering customers a wide range of products together with bakery and hot food options, providing greater convenience and accessibility to the surrounding community.

The new Kotahena outlet further expands LAUGFS Supermarkets’ growing network and reflects the Group’s continued focus on strengthening its presence in strategic locations across the country. The opening ceremony was attended by the Group Chairman, Group Executive Vice Chairman, Acting Group Managing Director/Group Executive Director and senior management.

Commenting on the opening, the Sector Managing Director/CEO – Retail, Niroshan De Silva, said, “The opening of our 46th outlet reflects the dedication, teamwork and determination of our people, who have worked exceptionally hard to bring this outlet together. The new Kotahena outlet is designed to offer customers greater convenience, with an inbuilt bakery and hot food facility that provides freshly prepared food alongside our wide range of products, all under one roof. Our focus is to ensure that every LAUGFS Supermarket operates to the highest standards and consistently delivers quality, convenience and service excellence to our customers.”

The opening of the Kotahena outlet marks another significant milestone in LAUGFS Supermarkets’ ongoing expansion, bringing its products and services closer to more customers while further enhancing its 24-hour retail offering. With its growing network of outlets and continued focus on customer convenience and service excellence, LAUGFS Supermarkets remains committed to strengthening its presence and creating greater value for customers across Sri Lanka.

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