News
Record breaking run on CSE continues for sixth straight day
The record breaking run on the Colombo Stock Exchange (CSE) continued for the sixth straight day on Friday with the All Share Price Index closing at an all-time high if 13,280.94 points, up 111.54 from Thursday’s close on a turnover up to Rs. 11.6 billion, CSE figures revealed.
Kapruka Holding Ltd., now listed on the CSE, Friday opened trading being the first IPO (Initial Public Offering) to debut this year. The first E-Commerce company to be listed in Colombo, the shares on offer were snapped up by investors with the issue oversubscribed six times on opening day.
The share closed Friday at Rs. 22.30, up Rs. 6.90 from the IPO price trading at a range of Rs. 21- Rs.24.40 with 17.3 million shares transacted in 7,059 trades.
Speaking at Friday’s bell ringing ceremony at the CSE when trading in Kapruka commenced, CSE Chairman Dumith Fernando said the Exchange had sustained a cracking pace through 2021 with over Rs. 120 billion new equity raised over year with 13 listings, all of which were over-subscribed on opening day.
Brokers and analysts said that a large number of retail players, the majority of whom are less than 45-years old, have commenced trading on the CSE in recent months in the context of depressed interest rates confident that share trading could earn them the best returns.
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Sun directly overhead Madampe, Thorayaya, Thotagamuwa, Rattota and Kalavanchikudy about 12.09 noon today (03)
The sun is going to be directly over the latitudes of Sri Lanka from 28th of August to 07th of September due to its apparent southward relative motion.
The nearest places of Sri Lanka over which the sun is overhead today (03) are Madampe, Thorayaya, Thotagamuwa, Rattota and
Kalavanchikudy about 12.09 noon.
News
22A: SC urged to suspend hearing, appoint full bench
Attorney-at-Law Sugandhika Fernando, on behalf of the Vinivida Foundation, petitioned the Supreme Court yesterday (02), seeking a full bench, excluding Chief Justice Preethi Padman Surasena, to hear the petitions challenging the 22nd Amendment Bill. She also requested that the hearing be suspended immediately until the matter was fully heard and determined.
Among the respondents are Chief Justice Surasena, the first respondent, and Attorney General Parinda Ranasinghe. Justices Yasantha Kodagoda, Shiran Gooneratne, Achala Wengappuli and Priyantha Fernando have also been named as respondents.
The petitioner has sought to have quashed the decision of the first respondent to appoint a five-member bench, which she alleged was made in violation of the norms of public law. She also sought a bench comprising all Supreme Court judges, excluding those cited as respondents, to hear the special determination applications on the 22nd Amendment.
The petitioner further contended that Chief Justice Surasena, who is due to retire on December 1, 2026, would be the main beneficiary of the 22nd Amendment.
The hearing of the petitions continued for a second day yesterday (02) before a five-member Supreme Court bench comprising Chief Justice Preethi Padman Surasena and Justices Achala Wengappuli, Arjuna Obeyesekere, Sampath Abeykoon and Gihan Kulatunga.
The hearing, which commenced on Tuesday morning, continued for nearly 12 hours, until 10:30 p.m.
Solicitor General Viraj Dayaratne, appearing for the Attorney General, submitted yesterday that the Government had presented the 22nd Amendment Bill to the Constitution and the Judicature (Amendment) Bill with the objective of expanding and streamlining the country’s judicial system.
After the Solicitor General’s submissions concluded, counsel representing the petitioners requested an opportunity to respond to the Solicitor General and the intervening petitioners. However, the Chief Justice declined to allow the petitioners’ counsel to make further oral submissions, concluded the determination hearing and directed them to file written submissions instead.
News
Govt. seeks NATO assistance
Sri Lanka has formally requested assistance from the North Atlantic Treaty Organisation (NATO).
According to a press release issued by the Defence Ministry, Defence Secretary Air Vice Marshal (retd) Sampath Thuyakontha has discussed defence cooperation with NATO, with discussions focusing on military modernisation, advanced technology, cyber capabilities and disaster response.
This was during talks between AVM Thuyakontha and NATO Military Committee Chairman Admiral Giuseppe Cavo Dragone on the sidelines of the Chiefs of Defence Conference in Victoria, Canada.
During the meeting, Secretary Thuyacontha outlined Sri Lanka’s defence requirements and areas of interest, including the modernisation of military hardware, acquisition of advanced technologies, and strengthening cyber capabilities and surveillance platforms, the Ministry of Defence said in a statement.
The two sides also discussed opportunities for greater technical cooperation, including the exchange of military personnel, expanded education and training programmes, and increased sharing of expertise and information.
Humanitarian Assistance and Disaster Relief (HADR) was also identified as an area for potential cooperation. The discussions included the exchange of expertise and the effective use of unmanned aerial vehicles (UAVs) in disaster response and related operations.
Defence Secretary Thuyacontha invited NATO to further strengthen its engagement with Sri Lanka, emphasising sustained dialogue, information sharing and practical cooperation in areas of mutual interest.
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