Connect with us

Business

Rupee’s steady appreciation against US $ sends bourse on bullish run

Published

on

By Hiran H.Senewiratne

CSE trading activities were bullish throughout yesterday on account of positive macroeconomic developments, especially the rupee appreciation against the dollar in the last three days and a decline in government securities, stock market analysts said.

The CSE gained in mid- day trade purely on speculation that government-IMF talks were coming to a successful conclusion amid likely rate cuts emanating from yesterday’s CBSL Monetary Policy Review, an analyst said. “The market was moving on a positive sentiment based on the IMF talks and it was also seen that the currency appreciated, he said. Sri Lanka’s rupee at Rs 338/339 to the US dollar yesterday was up from Rs 243/348 a day earlier in the spot market as the rupee continued to move up after a surrender rule was relaxed making more dollars available to the market.

Amid those developments both indices moved upwards. The All- Share Price Index went up by 111.1 points and S and P SL20 rose by 14 points. Turnover stood at Rs 2.85 billion with three crossings. Those crossings were reported in Sampath Bank, where 21.5 million shares crossed to the tune of Rs 1.17 billion; its shares traded at Rs 56, JKH 300,000 shares crossed to the tune of Rs 41.7 million and its shares traded at Rs 139, Lanka IOC 100,000 shares crossed for Rs 20 million, its shares fetched Rs 200.

In the retail market top seven companies that mainly contributed to the turnover were, Expolanka Holdings Rs 211 million (1.2 million shares traded), Sampath Bank Rs 153 million (2.7 million shares traded), Distilleries Rs 96.2 million (4.9 million shares traded), Hemas Rs 61.7 million (946,000 shares traded), JKH Rs 52.7 million (379,000 shares traded), Capital Alliance Rs 52.2 million (1.5 million shares traded) and Vallibel One Rs 43.6 million (1.19 million shares traded). During the day 93.6 million share volumes changed hands in 22000 transactions.

Top gainers were Commercial Bank, Sampath Bank and DFCC Bank.

Banks and retail indexes were an attractive index for investors solely based on positive speculation on the IMF talks.Bond yields were steady at close on the previous day, a day before the monetary policy, dealers said, while the interbank guidance peg by the Central Bank appreciated.

A bond maturing on 01.02.2025 closed at 31.80/32.00 per cent on Thursday, down from 32.00/15 per cent on Tuesday. A bond maturing on 15.05.2026 closed at 28.60/29.00 per cent. A bond maturing on 15.09.2027 closed at 28.00/25, down from yesterday’s close at 28.80/90 percent.



Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

SLAF, Aviyana Ceylon partner to elevate high-end sports tourism with Eagles’ Monsoon Cup 2026

Published

on

-Sports tourism gets a boost: dignitaries at the sponsorship-formalizing ceremony

Aviyana Ceylon, Sri Lanka’s upcoming ultra-luxury seven-star hospitality project, has stepped decisively into the country’s high-end sports tourism space by coming on board as the principal sponsor of the prestigious Eagles’ Monsoon Cup Golf Tournament 2026, in partnership with the Sri Lanka Air Force (SLAF).

The international-standard golf tournament is scheduled to be held on January 11, 2026, and is expected to attract diplomats, corporate leaders, high-net-worth individuals and overseas golfers, reinforcing Sri Lanka’s positioning as an emerging premium leisure and sporting destination.

Under the patronage of Aviyana Ceylon chairman, Dr. Thisara Hewawasam, the company has committed a Rs. 2.5 million sponsorship, marking one of the most significant private-sector investments in elite golf events in recent years.

The sponsorship was formalised at a ceremonial cheque handover held at the Sri Lanka Air Force Headquarters, where Dr. Hewawasam officially handed over the cheque to Commander of the Air Force, Air Marshal Bandu Edirisinghe.

“Our decision to support the Eagles’ Monsoon Cup goes beyond sport. It is a strategic investment in positioning Sri Lanka as a global luxury tourism and lifestyle destination, Dr. Hewawasam said.

“International sporting events with strong networking potential play a critical role in shaping perceptions, attracting premium travelers and enhancing the country’s brand equity. Aviyana Ceylon is committed to supporting platforms that elevate Sri Lanka’s global standing, he added.

Senior SLAF officials, including chairman, Eagles’ Golf Links, Air Commodore Erandika Gunawardhana, secretary of the Air Force Sports Council and Director Media, Group Captain Eranda Geeganage, Secretary of Eagles’ Golf Links, Group Captain Asanka Ratnayake and SLAF Golf Secretary, Wing Commander R.A.S.T.A. Fernando, along with Aviyana Ceylon representatives and invited guests were present at the event.

Air Marshal Bandu Edirisinghe welcomed the partnership, noting that collaboration between the military and private sector is vital in developing sports diplomacy and tourism-led economic activity.

“Eagles’ Monsoon Cup has evolved into a premier sporting event that brings together global and local stakeholders. The support extended by Aviyana Ceylon strengthens our ability to host events of international calibre and contributes meaningfully to sports tourism and national image-building, the Air Force Commander said.

Beyond the golf tournament, the partnership opens the door to new experiential tourism initiatives, including a proposed collaboration to offer luxury helicopter tours for Aviyana Ceylon’s clientele, operated in coordination with the Sri Lanka Air Force.

According to Dr. Hewawasam, the concept aims to provide discerning travelers with exclusive aerial experiences showcasing Sri Lanka’s landscapes, coastlines and heritage.

“Luxury heli-tours represent a new dimension in experiential tourism. They allow us to present Sri Lanka’s natural beauty from a unique vantage point, appealing to high-value travelers seeking privacy, exclusivity and unforgettable experiences, he said.

Industry observers note that such initiatives align with global trends where luxury hospitality brands integrate sports, aviation and curated experiences to differentiate destinations and increase average tourist spend.

The Eagles’ Monsoon Cup is widely regarded as one of Sri Lanka’s most elite sporting events, functioning not only as a golf tournament but also as a high-level networking platform linking diplomacy, business and leisure.

By Ifham Nizam

Continue Reading

Business

‘Tea industry largely spared cyclone damage’

Published

on

‘ Back to normal’ : A hill country tea estate.

Reports received by us from tea brokers, the Colombo Tea Traders’ Association (CTTA) and other sources indicated that, by and large, the local tea sector has been spared by the recent weather havoc.

The CTTA in their recent communications said that although Cyclone Ditwah affected parts of Sri Lanka, production, sales, and exports of tea continued without interruption. Clearly, the report said, the well established and highly coordinated industry network was fully geared to confront these issues. Production and sales continued with least disruption . While some tea growing areas in Uva, and the Central Province experienced some impact no loss in manufacturing capacity was reported.

Damage was largely confined to specific roads, resulting in temporary disruptions to transportation. Some key routes connecting plantations to the city have now been reopened and transport services are resuming normal operations. Harvesting operations are gradually returning to normal with access roads being reopened and temporary roads have been constructed to facilitate transport of green leaf to manufacturing locations.

The tea small holders we met said, although their production routine was affected, quick return to normalcy was ensured thanks to the established Tea Small Holders’ Association whose action ensured speedy return to normalcy. They reiterated production was near normal; and the dismal situation was now in a controlled position. They assured that such losses were minimal and could be recouped with minimum delay.

The CTTA further said the majority of plantations and small holder lands in the South of the island were spared cyclone damage. Harvesting, manufacturing and transportation activities are continuing as usual.

Trading activities at the Colombo Tea Auctions continue to be held although with a revised calendar. The tea auction previously set for the 1st week December has been rescheduled for the last week December. This adjustment ensures uninterrupted financial flows to the producers , including small holders, maintaining the momentum of the industry.

Forbes and Walker Tea Brokers reported a national tea sale average for November of Rs. 1137.22 ( USD3.89) which shows an increase of Rs.61.17 and USD 0.02 YOY. The total National Sale Average for the year 2025 ( to date) was recorded at Rs. 1,164.97( USD 3.88). a decline of Rs . 63.49 ( USD 0.17) against the corresponding year’s average of Rs. 1228.46 (USD4.05). The report further said all elevations recorded negative variances during the period January to November 2025 in comparison to the cumulative corresponding year of 2024 in both LKR and USD terms.

By Steve A. Morrell

Continue Reading

Business

Elephant House Ice Cream marks historic launch in Australia

Published

on

Ceylon Cold Stores PLC (CCS), a subsidiary of John Keells Holdings PLC, has launched its iconic Elephant House Ice Cream in Australia, marking a bold step in the brand’s global expansion. The official unveiling took place on 4th December 2025 at the Novotel Melbourne Glen Waverley, where industry leaders, local distributors, and strategic partners gathered to celebrate the occasion. The launch was further honoured by the presence of Ms. Pradeepa Seram, Consul General Designate of Sri Lanka, and Ms. Cassandra Fernando, Member of the Australian Parliament, reflecting the deep and growing connections between Sri Lanka and Australia.

Elephant House is one of the highest-penetrated Sri Lankan brands among Sri Lankan communities living overseas, with a presence in 16 countries, including the Maldives, Australia, and the United Kingdom, among others.

In a significant milestone for the company, Elephant House Ice Cream is now manufactured locally in Melbourne to support wider availability in the ethnic market in Australia. The range currently available includes Vanilla, Karutha Kolomban, and Fruit and Nut in 500ml packs. This marks the first time in CCS’s 150-year legacy that Elephant House Ice Cream has been produced outside Sri Lanka, signalling a new chapter in the company’s international growth journey in collaboration with Millennium Imports Pty Ltd, it’s one of the franchise partners for Australia.

Continue Reading

Trending