Business
Rate reduction by Central Bank exerts rejuvenating impact on CSE
By Hiran H.Senewiratne
The stock market yesterday was extremely bullish on account of the Central Bank decision to reduce the Standing Deposit Facility Rate and the Standing Lending Facility Rate by 50 basis points. It was a major surprise for stock market investors.
Further, Central Bank Governor Dr Nandalal Weerasinghe’s positive comments on the national economy and its way forward lifted the spirits of local and foreign investors, market analysts said.
Amid those developments both indices moved upwards. The All Share Price Index went up by 100.7 points while S and P SL20 rose by 57.21 points. Turnover stood at Rs 2.4 billion with four crossings. Those crossings were reported in Sampath Bank, which crossed 5 million shares to the tune of Rs 390 million; its shares traded at Rs 78, LOLC 200,000 shares crossed for Rs 79.25 million; its shares traded at Rs 405, Hayleys 650,000 shares crossed for Rs 53.3 million; its shares traded at Rs 82 and Hayleys Fabrics 590,000 shares crossed for Rs 23.9 million and its shares sold at Rs 40.50.
In the retail market top seven companies that mainly contributed to the turnover were; Sampath Bank Rs 314 milllion (4 million shares traded), DFCC Bank Rs 280 million (3.9 million shares traded), HNB Rs 121 million (706,000 shares traded), Browns Investments Rs 69.1 million (12.7 million shares traded), LOLC Finance Rs 49.9 million (9 million shares traded), LOLC Holdings Rs 46.9 million (117,000 shares traded) and Ceylon Grain Elevators Rs 41.65 million (248,000 shares traded). During the day 80.7 million share volumes changed hands in 14200 transactions.
It is said that high net worth and institutional investor participation was noted in Sampath Bank, LOLC Group of companies and Hayelys. Mixed interest was observed in Sampath Bank and LOLC Holdings while retail interest was noted in Tess Agro, Industrial Asphalts and Browns Investments.
The Banking sector was the top contributor to the market turnover (due to Sanasa Development Bank and Nations Trust Bank) while the sector index gained 0.20%. The share price of Sanasa Development Bank decreased by 40 cents to descend to Rs. 30.60. The share price of Nations Trust Bank closed flat at Rs. 104.50.
The Capital Goods sector was the second highest contributor to the market turnover (due to Hayleys), whilst the sector index edged down. The share price of JKH recorded a gain of 50 cents to reach Rs. 190.50. The share price of ACL Cables appreciated by 50 cents to reach Rs. 83.90.
Yesterday, the rupee opened stronger at Rs 301.90/302.00 to the US dollar in the spot forex market, stronger from Rs 302.60/70 the previous day, dealers said.
Bond yields were down. A bond maturing on 15.12.2026 was quoted at 11.25/32 percent, down from 11.30/40 percent on Monday. A bond maturing on 15.12.2028 was quoted at 12.05/15 percent, down from 12.10/15 percent.
Business
HNB partners IDEAL Motors to drive financial freedom through vehicle leasing solutions
HNB PLC, the leading private bank in Sri Lanka, has partnered with IDEAL Motors (Pvt) Limited to provide customers with attractive leasing solutions for brand-new vehicles & generators .
The partnership introduces a range of benefits designed to support individuals, entrepreneurs, and businesses seeking reliable vehicle and power solutions. Through this collaboration, customers can access structured lease facilities, special interest rates, free life insurance coverage, and attractive discounts through HNB General Insurance.
Commenting on the partnership, HNB, Senior Vice President/ Head of Retail Banking, Kanchana Karunagama, said, “At HNB, we believe that the right financial support can help people and businesses move forward with greater confidence. This partnership with IDEAL Motors shows our commitment to creating meaningful solutions that make vehicle and power investments more accessible, while helping our customers achieve their personal and business aspirations. By combining HNB’s financial expertise with IDEAL Motors’ industry capabilities, we are creating opportunities that support the ambitions of Sri Lankans and contribute towards a stronger, more connected economy.”
Customers purchasing vehicles through IDEAL Motors will also benefit from exclusive offers including free registration, and discounts on Bolero Maxx Pik-Up, Alfa Plus Load Carrier, Mahindra Pik-Up Single Cab, Mahindra Pik Up Double Cab, XUV 3XO vehicles, creating greater value throughout their ownership journey.
IDEAL Motors (Pvt) Limited, Director Legal and Corporate Affairs, Nimesha Welgama, said, “Our collaboration with HNB represents a shared commitment to supporting Sri Lankans in achieving greater financial independence through accessible ownership solutions. By combining IDEAL Motors’ mobility and power solutions with HNB’s financial expertise, we aim to empower individuals and businesses with opportunities that contribute to economic progress and community development. This partnership highlights our vision of creating lasting value by enabling customers to confidently invest in their future.”
With IDEAL Motors recognised for its diverse portfolio of automotive and power solutions, and HNB’s extensive expertise in financial services, the partnership aims to provide a seamless experience from selection to ownership, supported by flexible financing options and customer focused solutions.
The partnership further strengthens HNB’s commitment to supporting economic progress by providing financial solutions that enable customers to invest in personal mobility, commercial growth, and business continuity. Through collaborations with leading industry partners, HNB continues to expand opportunities for Sri Lankans while delivering a banking experience built around accessibility, trust, and value.
Business
Sri Lanka Insurance Corporation General and the Ministry of Education committed to protect Sri Lanka’s schoolchildren
Sri Lanka Insurance Corporation General Ltd (SLICGL) and the Ministry of Education, Higher Education and Vocational Education share a commitment to protect Sri Lanka’s children throughout their school education. The pledge is delivered through the Suraksha Student Insurance Scheme, which protects over 4 million school children.
The Government of Sri Lanka, through the Ministry of Education, Higher Education and Vocational Education, provides the Suraksha Student Insurance Scheme free of charge to schoolchildren throughout the country. SLICGL is proud to partner with the Ministry in delivering this national initiative, which helps safeguard students against the financial impact of unforeseen circumstances.
Eligible students include those aged 5-21 years in Grades 1-13 from government schools, government-approved private schools, and Pirivena education, as well as students aged 4-21 years in assisted special schools.
The scheme provides hospitalisation, outpatient and critical illness cover, as well as personal accident cover for permanent and temporary disability, together with a life insurance benefit for children from low-income families on the death of a parent. Cover applies to incidents within and outside school premises.
For a child, an illness or accident can be far more than a temporary setback. It can place added pressure on a family and, in some circumstances, disrupt schooling. Suraksha acts as a safety net, giving children and their families greater peace of mind and helping them stay in school despite life’s uncertainties. The scheme is easily accessible through SLICGL’s islandwide network of 200 branches and customer service centres.
Children’s Day is a celebration of hope, the hope for every child to have the opportunity to learn, grow and build a better future. Celebrating children also means protection, not for a single day but for every day they spend in the classroom.
Commemorating Children’s Day, SLICGL extended support towards the educational needs of children at an underprivileged school. The project highlighted the company’s belief in protecting the future not only by being supportive when the unexpected happens, but also in helping create an environment in which children can learn, grow and fulfil their potential.
As Sri Lanka’s National Insurer, SLICGL’s role goes further than protecting people against risk. It is also about contributing to a stronger, safer and more resilient country as children’s education, wellbeing and aspirations contribute directly to help build the journey ahead.
Business
Vietjet launches Hanoi to Prague route via Almaty, expanding to Central Asia and Europe
Vietjet, which already flies between Colombo and Ho Chi Minh City, has officially launched new services connecting Hanoi with Almaty, Kazakhstan, and Prague, Czech Republic, as well as Almaty with Prague, expanding its intercontinental network and marking its entry into the European Union. The new air links offer more affordable travel options while fostering greater tourism, trade and cultural exchange between Asia and Europe.
For Sri Lanka, the new routes widen the network that Vietjet is building out of Colombo. The airline has operated non-stop flights between Colombo and Ho Chi Minh City since August 2026, three times a week on Tuesdays, Thursdays and Saturdays, while its new Ho Chi Minh City to Maldives service via Colombo is scheduled to begin on 5 December 2026. With Hanoi now linked to Central Asia and Europe, Sri Lankan travellers have a growing choice of destinations reachable through Vietjet’s extensive network.
The inauguration ceremonies took place at Almaty International Airport and Václav Havel Airport Prague on 10 October, amid a warm welcome from local leaders, residents and visitors. The inaugural flights were greeted with traditional water cannon salutes and performances showcasing local cultural heritage, marking the beginning of new journeys connecting the three regions and welcoming international travellers to Vietnam. Passengers on the inaugural flights also received commemorative gifts from Vietjet and the airports, adding a special touch to their journeys.
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