Business
Purchase of Expolanka Holdings shares by parent company boosts bourse
By Hiran H.Senewiratne
The CSE’s year-to-date net foreign inflow surpassed the Rs. 29 billion mark yesterday with continued purchase of Expolanka Holdings shares by its parent SG Holdings of Japan.
Apart from this silver lining, the Colombo bourse remained negative owing to lacklustre interest from locals. Sri Lanka’s US $2.9 billion IMF bailout issue from the International Monetary Fund (IMF) is likely to go beyond January 2023, State Minister of Finance Shehan Semasinghe said and this has prompted a negative outlook on the part of local investors.
Semasinghe assured, however, that maximum efforts are underway to receive the Board’s approval in the first quarter of 2023. Accordingly, both indices moved downwards. The All- Share Price Index went down by 88.27 points and S and P SL20 declined by 33.04 points. Turnover stood at Rs 4.6 billion with two crossings. Those crossings were reported in Expolanka Holdings, which crossed 13.7 million shares to the tune of Rs 2.8 billion and its shares traded at Rs 210 and Lanka IOC 534,000 shares crossed to the tune of Rs 106.8 million, its shares traded at Rs 200.
In the retail market top seven companies that mainly contributed to the turnover were, Expolanka Holdings Rs 566 million (2.8 million shares traded), Lanka IOC Rs 471 million (2.3 million shares traded), Browns Investments Rs 97.7 million (14.7 million shares traded), First Capital Holdings Rs 82.1 million (3.1 million shares traded), JKH Rs 38 million (272,000 shares traded), LOLC Finance Rs 26.4 million (3.5 million shares traded) and First Capital Treasuries Rs 26.6 million (1.2 million shares traded). During the day 68.4 million share volumes changed hands in 14000 transactions.
It is said high net worth and institutional investor participation was noted in Expolanka Holdings, John Keells Holdings and Lanka IOC. Mixed interest was observed in First Capital Holdings, Softlogic Life Insurance and CIC Holdings, while retail interest was noted in Browns Investments, Softlogic Capital and Industrial Asphalts.
The Transportation sector was the top contributor to the market turnover (due to Expolanka Holdings) while the sector index lost 0.60 per cent. The share price of Expolanka Holdings decreased by Rs. 1.25 (0.60%) to close at Rs. 205.50.
The Energy sector was the second highest contributor to the market turnover (due to Lanka IOC), while the sector index decreased by 5.32 per cent. The share price of Lanka IOC lost Rs. 12.50 (5.69 per cent) to close at Rs. 207.
Sri Lanka’s authorities have said a domestic debt restructure would endanger banks that have already suffered a hit on their capital.
Amid those developments Nation Lanka Finance PLC obtained Central Bank approval for an amalgamation with Kanrich Finance, which is a CSE unlisted entity in the stock market. With the amalgamation, the surviving entity would be Nation Lanka Finance.
Yesterday, the Central Bank- announced US dollar exchange rate was recorded as Rs 371.77.
Business
Samagi Spice Exports to launch Ceylon Cinnamon based beverage range
Samagi Spice Exports (Pvt) Ltd is set to introduce SPICEUP, a new Sri Lankan beverage brand, at its grand launch on Saturday 17 October 2026 at the University of Ruhuna, Matara.
With a history dating back to 1969, Samagi Spice is taking a new step in its business journey by expanding beyond traditional spice exports into value added consumer products.
Through SPICEUP, the company aims to connect Sri Lanka’s internationally recognized cinnamon heritage with contemporary beverage innovation, creating a distinctive identity in the country’s beverage market.
The SPICEUP range will feature a variety of products, including Original, Cream Soda, Power, GO, Cool, Burn, Memo+ and Zingy. Designed to offer consumers a range of refreshment experiences, the products will be available in two packaging formats: cans and plastic bottles, catering to different consumer preferences and occasions.
At the heart of the initiative is the potential of true Ceylon cinnamon as a value-added ingredient in the beverage industry. Rather than limiting cinnamon to its traditional uses, SPICEUP seeks to explore new opportunities for bringing this iconic Sri Lankan spice into everyday consumer experiences.
The initiative also highlights the broader potential of transforming the country’s agricultural resources into innovative products with commercial value.
The launch ceremony will be attended by legendary Sri Lankan cricketer Sanath Jayasuriya as the Chief Guest, alongside representatives from the Export Development Board (EDB), Industrial Development Board (IDB), Cinnamon Research Academy and other industry stakeholders.
A major highlight of the occasion will be the official unveiling of the SPICEUP product range, followed by the launch of the brand’s official website. The event will also feature the signing of a Memorandum of Understanding (MoU) between Samagi Spice Exports and the University of Ruhuna, marking an important step towards strengthening collaboration between industry and academia.
The proposed collaboration will provide a platform for future research, product innovation and value addition involving true Ceylon cinnamon. By bringing together business expertise and university-based knowledge, the initiative aims to support the development of innovative, value-added products and contribute to Sri Lanka’s potential in international markets.
With its roots in the country’s spice industry and its ambitions in the beverage sector, SPICEUP is poised to begin a new chapter in Samagi Spice’s journey—one that seeks to bring the distinctive identity of Ceylon cinnamon to a new generation of consumers.

Business
Indian business leader urges SL entrepreneurs to tap into India’s rapidly expanding consumer market
By Sanath Nanayakkare
Speaking at the Sri Lanka Economic and Investment Summit 2026, T. Krishnakumar, Chief Executive Officer of Reliance Consumer Products Ltd (RCPL), emphasised that local enterprises can unlock substantial economic benefits by strategically aligning with India’s booming consumer base.
Addressing business leaders and policymakers at the Shangri-La Hotel in Colombo, Krishnakumar highlighted that geographical proximity and rich cultural ties provide a natural foundation for deeper commercial collaboration.
He noted that instead of viewing bilateral trade narrowly, regional partnerships should act as conduits to build robust, scalable enterprises capable of plugging into wide-reaching regional value chains.
“For Sri Lankan exporters dealing in traditional staples as well as value-added goods, accessing India’s rising middle class presents a phenomenal growth window,” he said.
Drawing insights from Reliance Consumer Products’ rapid expansion – which scaled efficiently to thousands of employees and multi-billion-dollar metrics – Krishnakumar stressed that modern corporate success relies on disciplined execution, localised consumer understanding, and smart technology integration.
Furthermore, he underscored that while rapid growth is critical, businesses must consistently anchor their models in affordability and consumer trust.
Concluding his address at the summit, the RCPL chief noted that pairing regional trade integration with resilient business practices and predictable regulatory frameworks will be vital as Sri Lanka transitions firmly toward accelerated economic development.
Addressing the Summit during a subsequent fireside chat, President Anura Kumara Dissanayake underscored that a core concern currently being targeted by the government is developing a critical mass of local entrepreneurs equipped to engage with international enterprise counterparts.
Business
SriLankan Airlines wins prestigious SATA 2026 Visitors’ Choice Award for Leading International Airline
SriLankan Airlines has once again been honoured with the prestigious Visitors’ Choice Award for Leading International Airline at the South Asian Travel Awards (SATA) 2026, reaffirming its continued recognition in the regional travel and tourism industry. The airline, which has received this award in previous years, was the only international airline to be recognised in this category at this year’s event. The 10th anniversary edition of the awards ceremony was held earlier this month at Hotel Barcelo Nasandhura in Male, Maldives.
Recognised as one of the key events on the Maldivian tourism and travel industry calendar, SATA celebrated its 10th anniversary on a grand scale, bringing together prominent industry stakeholders, including Government Ministers, distinguished dignitaries, diplomats and senior representatives from leading airlines and their respective head offices.
Commenting on the achievement, Dimuthu Tennakoon, Head of Commercial, SriLankan Airlines, stated, “We are honoured to receive this recognition at the South Asian Travel Awards 2026. Being named the Leading International Airline in the Visitors’ Choice Awards once again is a meaningful acknowledgement of our commitment to serving our passengers and strengthening our presence in the region. This award inspires us to continue enhancing the travel experience we offer and to build stronger connections with the markets and communities we serve.”
Complementing its commitment to service excellence, SriLankan Airlines offers an extensive flight network with convenient connections to destinations across the globe. In South Asia, the airline operates nearly 130 flights each week to 15 destinations across India, Pakistan, the Maldives, Nepal, and Bangladesh. With schedules thoughtfully designed to suit the needs of travellers, SriLankan Airlines provides seamless connectivity for those visiting Colombo for business or leisure, as well as passengers travelling onwards to destinations worldwide.
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