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Revised ASPI calculation method triggers temporary panic in bourse; but turnover hits Rs 18.4 billion

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By Hiran H.Senewiratne

The revised index calculation methodology of the CSE’s All Share Price Index from full market capitalization-weighting to public float-adjusted market capitalization was implemented from yesterday. With the implementation of this new system stock market investors became rather panicky and the market turned negative but during the latter part of the day buying interest was noted and the market turned positive, stock market analysts said.

‘Accordingly, this project should also be completed on time in the same way the Delivery Vs Payment (DVP) project was completed, since this will significantly enhance the post trade risk management of the equity market. Further, the new SEC Act has all the enabling provisions to facilitate the implementation of a Central Counter- Party (CCP) mechanism.

Amid those developments both indices moved upwards. The All- Share Price Index went up by 12.5 points and S and P SL20 rose by 30.2 points. The market turnover stood at Rs. 18.4 billion with two major crossings. The crossings were reported in JKH, which crossed 80.1 million shares, which were equal to five per cent of the total shareholdings to the tune of Rs. 12.9 billion at a share price of Rs 161. Since the company has not yet announced the transaction, CSE sources said that City Group, being the largest shareholder, which owned 440 million shares would have been involved in the transaction by way of an internal transfer or investiture to another party. Another crossing was reported in Kelani Cables, which crossed 170,000 shares to the tune of Rs 102 million; its shares traded at Rs 600.

In the retail market top five companies that mainly contributed to the turnover were, Expolanka Holdings Rs one billion (2.7 million shares traded), Browns Investments Rs 352 million (20.9 million shares traded), ACL Cables Rs 318 million (2.5 million shares traded), Kelani Valley Plantations Rs285 million (2.6 million shares traded), LOLC Holdings Rs 262 million (2.6 million shares traded), Hayleys Rs 221 million (1.5 million shares traded), and LOLC Finance Rs 174 million (6.1 million shares traded). During the day, 207 million share volumes changed hands in 43000 transactions. Further, the Central Bank has given approval for the merging of LOLC Finance and Commercial Leasing and Finance. With the proposed merger Commercial Leasing and Finance will no longer exist.

Yesterday, the US dollar was quoted at Rs 202, which was the controlled rate of the Central Bank to contain prices of import- export items in the country.



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Charting a worker-centered AI future: Colombo hosts landmark ITF conference

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The ITF’s first-ever AI-focused global conference and the first of its kind hosted in Sri Lanka

By Sanath Nanayakkare

Artificial intelligence and automation present serious challenges for workers – such as job consequences seen in docks and rail systems – and emphasises that workers cannot simply stop technological progress. By gathering young trade unionists in Sri Lanka, the ITF aims to establish key principles for engaging with technology, ensuring workers have a strong voice at the bargaining table, and encouraging constructive social dialogue with corporations and governments.

These compelling words from ITF General Secretary Stephen Cotton underscored the urgent reality facing modern labor as rapid technological advancements sweep across global industries.

Confronting this shifting landscape head-on, the International Transport Workers’ Federation (ITF), in partnership with the National Union of Seafarers of Sri Lanka (NUSS), convened a ground-breaking conference on artificial intelligence in Colombo from September 15–17.

As the ITF’s first-ever AI-focused global conference and the first of its kind hosted in Sri Lanka, the landmark event marked a critical milestone in balancing technological innovation with worker-centered safeguards.

Representing over 16.6 million transport workers worldwide, the ITF designed the gathering to tackle the multifaceted impacts of AI on safety, operations, workforce development, and governance. Rather than resisting progress, the conference focused on proactive engagement, establishing guiding principles to protect workers’ rights and privacy both at sea and on land.

Key discussions centred on sharing best practices for upskilling and reskilling transport personnel, ensuring that human oversight remains central to AI-driven logistics, routing, and maintenance.

Reflecting on the historic nature of the event, Boa Athu, CEO of National Union of Seafarers Asia Pacific, noted that the conference represented a monumental moment as AI emerges as a permanent fixture of contemporary life.

Highlighting NUSS’s pride in hosting the event in Colombo, Athu emphasised that AI offers transformative potential when guided by strong social dialogue, equitable access to training, and robust governance safeguards.

Ultimately, the Colombo conference demonstrated that the future of transport must be shaped by those who keep the world moving. By uniting international labour leaders, affiliates, port operators, and regulators, the event laid a vital foundation for inclusive policy frameworks that champion fair labour standards, securing a powerful voice for workers in an automated tomorrow.

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Bridging the digital divide: Sri Lanka’s airport licence challenge

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As tourism surges from digitally advanced markets like India, modern independent travelers arriving at BIA find themselves caught in a mismatch between cloudstored credentials and local paper-based transport protocols.

By Sanath Nanayakkare

As Sri Lanka experiences a surge in visitors from its largest tourist market, India, a modern administrative hurdle has emerged at Bandaranaike International Airport (BIA).

While nations like India and Pakistan have successfully transitioned to fully digital driving licences and cashless ecosystems, Sri Lanka’s Department of Motor Traffic counter still requires a physical card to issue temporary local permits, The Island Financial Review learns.

This mismatch creates significant friction for independent travelers who rely entirely on smartphones and cloud-stored credentials. Tourists turned away at the airport – and sometimes redirected to the Werahera office in vain – find themselves unable to legally rent and drive vehicles. Consequently, this policy gap harms local car rental operators, causes tourist frustration, and deprives the government of valuable permit revenue.

The situation highlights a distinct irony: Sri Lankan motorists easily travel abroad using International Driving Permits that are readily accepted in India and Pakistan, yet local infrastructure cannot reciprocate due to outdated verification systems.

Recognizing the problem, Department of Motor Traffic officials have noted that upgrades and new equipment are currently in the works to integrate foreign digital platforms.

For a nation aggressively pursuing a national digitalisation drive, rapidly modernising these transport protocols is essential to keeping pace with global travelers and unlocking the full potential of its tourism economy.

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International Afro-Latin Dance Festival in Colombo to grow into a larger regional tourism draw

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Founder X Director – ALIF – J D RUBAN

ALIF-SL, Sri Lanka’s first-ever international Afro-Latin dance festival, returns for its 4th edition from 25 to 27 September 2026 at the Galle Face Hotel, Colombo. The festival will bring together over 30 international and national artists and 175–200 participants from more than 20 countries, reaffirming its place as the region’s leading platform for Salsa, Bachata and Kizomba.

This year’s edition is headlined by Tropical Gem, the world’s No. 1 salsa team, travelling from Italy to perform and teach alongside a stellar international line-up. Attendees can also look forward to the ALIF Cup Sri Lanka Open, a keenly contested competition judged by an international panel, giving local dancers a rare opportunity to compete and connect with world-class talent.

“Every year, ALIF connects Sri Lanka to the world. With this year’s artist line-up and the ALIF Cup competition, we’re not just hosting a festival, we’re putting Sri Lanka on the map as a top destination for dance,” said JD Ruban, Founder and Director of ALIF-SL

Beyond the dance floor, ALIF-SL continues to support Sri Lanka’s tourism sector, drawing dancers, judges and enthusiasts from across the globe to Colombo and positioning the capital as an emerging regional hub for social dance. Organizers plan to grow the festival into a larger regional tourism draw, introduce new competition categories, and bring in even bigger headline acts in future editions.

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