Business
Positive sentiment stemming from local political developments boosts share market
By Hiran H.Senewiratne
The CSE commenced on a low note yesterday as its indices continued to pull back due to extended profit-taking in heavyweight, banking and manufacturing sectors. But in the last half an hour the market showed some recovery and buying interest increased due to positive sentiment in the local arena, stock market analysts commented.
When all global stock markets are going through a downturn due to the economic recession, the CSE showed some positive sentiment following President Ranil Wickremesinghe’s fruitful bilateral discussions with Japanese Foreign Minister Yoshimasa Hayashi and Singaporean Prime Minister Lee Hsien Loong yesterday, market analysts said.
Further, Power and Energy Minister Kanchana Wijesekera’s assurance on September 27 that measures have been taken for the CEB to maintain power generation without extending power cuts from Wednesday, despite the Norochcholai breakdown, gave some impetus to stock market investors.
Amid those developments both indices moved upwards. The All- Share Price Index went up by 17.4 points and S and P SL20 rose by 25 points. Turnover stood at Rs 5.8 billion with four crossings. Those crossings were reported in Expolanka Holdings, which crossed ten million shares to the tune of Rs 2.3 billion and its shares traded at Rs 228, Commercial Bank five million shares crossed for RS 275 million and its shares traded at Rs 55, Central Finance 850,000 shares crossed to the tune of Rs 58 million and its shares traded at Rs 69 and Hela Apparel three million shares crossed for Rs 37.2 million, its shares traded at Rs 12.40.
In the retail market seven companies that mainly contributed to the turnover were, Lanka IOC Rs 676 million (2.3 million shares traded), ACL Cables Rs 538 million (4.7 million shares traded), Expolanka Holdings Rs 365 million (1.6 million shares traded), First Capital Holdings Rs 95.5 million (5.6 million shares traded), First Capital Treasuries Rs 73.8 million (3.3 million shares traded), Richard Pieris Rs 65 million (two million shares traded) and Lankem Development Rs 61 million (1.7 million shares traded). During the day 118 million share volumes changed hands in 29000 transactions.
It is said the market commenced the week on a negative note with profit- taking visible on selected stocks as investors cut their margin positions ahead of the month end.
Meanwhile, Retail, Capital Goods and Materials sectors majorly pulled down the index whereas Plantation and Hotel sector counters witnessed an upsurge during the day.
The Transportation sector was the top contributor to the market turnover (due to Expolanka Holdings), while the sector index gained 1.24 per cent. The share price of Expolanka Holdings increased by Rs. 2.75 (1.24 per cent) to close at Rs. 223.75.
The Capital Goods sector was the second highest contributor to market turnover (due to JKH and ACL Cables), while the sector index decreased by 2.13 per cent. The share price of JKH moved down by Rs. 3 (2.10 per cent) to close at Rs. 139.75. The share price of ACL Cables recorded a loss of Rs. 1.75 (1.61 per cent) to close at Rs. 107.25.
The year-to-date net foreign inflow to the CSE crossed the Rs. 13 billion mark on the previous day, fuelled by continuous buying into Expolanka Holdings by its parent SG Holdings of Japan.
The CSE saw a net buying of Rs. 1.8 billion on the previous day, of which Expolanka Holdings accounted for Rs. 1.7 billion. Of the Year to Date figure, Rs. 12.5 billion had been in September so far. The net foreign buying at CSE is after four years of outflow.
Yesterday, the Central Bank- announced US dollar buying rate was Rs 359.18 and the selling rate Rs 369.93.
Business
A sustained wave of Indian assistance to Sri Lanka showcases defining shift in developmental diplomacy
By Sanath Nanayakkare
An evolving approach to regional diplomacy was brought into sharp focus with the recent foundation-laying ceremony for the Moragahakanda Bridge in Matale.
Jointly launched by Indian High Commissioner Santosh Jha and Minister of Transport, Highways and Urban Development Bimal Rathnayake, this 175-metre span is far more than a routine civil engineering project. It serves as the physical manifestation of a broader USD 450 million reconstruction package deployed by India in the wake of Cyclone Ditwah, which severely fractured the island’s transport arteries.
Foreign aid is too often discussed in cold, macroeconomic abstractions. Yet, every so often, a consistent pattern of targeted assistance alters the landscape of bilateral relations, offering a clear window into how regional partnerships evolve out of necessity and goodwill.
Across the country today, a remarkable narrative of multi-layered cooperation is unfolding.
From critical post-disaster infrastructure and maritime routes to grassroots agricultural uplift and institutional capacity-building, India’s developmental footprint is shifting unmistakably toward an organic, people-centric model of shared resilience.
What distinguishes this latest wave of assistance is its deliberate pivot from emergency support to permanent, climate-resilient transformation. When Cyclone Ditwah initially paralysed regional connectivity, India’s immediate response was marked by the rapid deployment of temporary Bailey bridges.
Today, that swift humanitarian intervention has matured into a structural blueprint: the Moragahakanda project stands as the vanguard of 13 permanent bridges being built across Sri Lanka’s provinces by IRCON International Limited, complemented by upcoming railway upgrades and modern signaling systems backed by a USD 250 million Line of Credit.
The true signature of this diplomatic shift lies in its breadth, operating simultaneously across multiple tiers of society:
Institutional Governance: Delegations of Sri Lankan parliamentarians and senior administrative officers regularly travel to India to study public policy frameworks, legislative systems, and administrative practices.
Economic Lifelines: Financial mechanisms, such as viability gap funding for the Nagapattinam-to-Kankesanthurai passenger ferry service, continue to shrink geographical distances, reviving coastal commerce and tourism.
Grassroots Empowerment: Specialised capacity-building programmes tailored for local stakeholders – ranging from state officials to rural dairy farmers -ensure that development reaches deep into the island’s hinterlands.
By aligning immediate disaster relief with long-term infrastructure, institutional capacity, and human capital, India and Sri Lanka are demonstrating how neighbours can build safer, more connected futures together, grounded firmly in mutual respect and tangible progress.
Business
Bring your own bag to book fair, CEA urges
By Ifham Nizam
The Central Environmental Authority (CEA) yesterday urged visitors to the Colombo International Book Fair to bring reusable bags to carry their purchases, as part of a drive to reduce single-use plastic waste at the event.
CEA Director General R. S. P. Kapila Rajapaksha said large quantities of plastic, particularly “sili sili” bags, had been used to carry books at previous book fairs.
“We urge visitors to bring an environmentally friendly, reusable bag when they come to buy books. This simple step can help reduce the use of single-use plastic and protect the environment,” Rajapaksha said.
The book fair opens on September 25, with the CEA and the Sri Lanka Book Publishers’ Association launching an awareness programme targeting book sellers, food vendors and visitors.
The programme will be conducted under the theme “Read Smart, Carry Smart”, focusing on reducing polythene and plastic use throughout the exhibition.
The CEA said the use of plastic bags is also subject to regulations issued under the Consumer Affairs Authority Act. Gazette Extraordinary No. 2456/41, dated October 1, 2025, prohibits the free distribution of handled “sili sili” bags to consumers. Where such bags are sold, the charge must be included in the customer’s bill.
The CEA said food outlets at the book fair would also be required to comply with regulations prohibiting a range of single-use plastic products.
These include plastic straws and stirrers, disposable plastic plates, cups, spoons, forks and knives, as well as polythene-based food wrappers commonly known as lunch sheets.
The CEA said it had discussed the requirements with relevant stakeholders and reached agreement to ensure that prohibited products are not used at food outlets within the exhibition premises.
The authority urged both traders and visitors to cooperate with the initiative and help make this year’s book fair a more environmentally responsible event.
Business
Japanese investor Yoshimichi Watanabe backs Hunas Holdings
Partnership signals renewed foreign investor confidence in Sri Lanka as a destination and in the long-term growth of its hospitality sector
Japanese investor Yoshimichi Watanabe has entered into a partnership with Colombo Stock Exchange-listed Hunas Holdings PLC, in a move that comes as the diversified conglomerate prepares a significant expansion of its hospitality and real estate interests in Sri Lanka.
The partnership brings foreign capital and international market experience into one of Sri Lanka’s fastest-diversifying listed groups at a point when the Group is actively building out its pipeline across both sectors. Hunas Holdings is currently evaluating a series of hospitality and real estate developments in Sri Lanka, with further announcements expected in the coming months.
Hunas Holdings PLC operates across hospitality and leisure, real estate, renewable energy and agriculture, with a hotel portfolio that includes Hunas Falls in Elkaduwa
For Sri Lanka, the significance of the partnership extends beyond the two parties. Inbound investment of this nature, from an investor with direct and sustained experience of the market, is a measure of returning confidence in the country as a destination and in the underlying fundamentals of its hospitality sector, at a time when the industry is repositioning towards higher-value, experience-led travel.
Watanabe brings investment experience across e-commerce, hospitality and real estate in Japan and in international markets including Bali, Indonesia. He has also maintained a relationship with Sri Lanka over many years, having made multiple investments in the country, giving him first-hand insight into its business environment, regulatory landscape and long-term potential.
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