Stock market activities kicked off on a negative note at the outset due to the ex- dividend date faling yesterday. But later the market turned positive and picked up owing to the signing of bargain hunters during the day.

Amid those developments both indices moved upwards. The All Share Price Index went up by 123 points while S and P SL20 rose by 29.14 points.

Turnover stood at Rs 1.9 billion with one crossing. That crossing was reported in VallibelOne which crossed 629,000 shares to the tune of Rs 37.7 million and its shares traded at Rs 60.

In the retail market, companies that mainly contributed to the turnover were; Commercial Bank Rs 193 million (1.35 million shares traded),Sampath Bank Rs 177 million (1.5 million shares traded),Haylays Rs 123 million (872,000 shares traded), Commercial Credit Rs74.5 million (1.2 million shares traded), JKH Rs 68.3 million (3.3 million shares traded) and Hemas Rs 66.3 million (552,000 shares traded). During the day 63.1 million share volumes changed hands in 15000 transactions.

It is said that banking sector was the main contributor for the turnover especially with Commercial Bank and Sampath Bank while manufacturing sector was the second largest contributor especially with Haylays.

Sri Lanka’s LOLC Finance Plc said it has disposed of its 40 percent stake in Commercial Insurance Brokers (Pvt) Limited.

“The Company disposed of the entire stake held in Commercial Insurance Brokers (Pvt) Limited (CIB) (40 percent ) for a consideration of Rs.332,880,000.00 on 31st March 2025,” LOLC Finance said in a CSE filing.

The transaction is subject to compliance with regulatory requirements.

Yesterday the rupee was quoted at Rs 296.15/17 to the US dollar in the spot market, stronger from Rs 296.25/35 last Friday, dealers said, while bond yields were somewhat steady.

A bond maturing on 01.07.2028 was quoted at 10.00/05 percent.A bond maturing on 15.10.2028 was quoted at 10.05/15 percent.A bond maturing on 15.09.2029 was quoted at 10.35/40 percent, down from 10.40/45 percent.

The Central Bank was quoting a rate of Rs 291.9591 for buying and RS 300.4758 for selling for US dollar telegraphic transfers; a rate of Rs 314.2329 for buying and Rs 326.9738 for selling for Euro; Rs 375.9897 buying and Rs 390.1010 for British pound; and Rs 1.9395 buying and Rs 2.0163 selling for Japanese yen.

By Hiran H Senewiratne

A new welfare centre named “The Palace,” established by the International Transport Employees’ Federation (ITF) in collaboration with Sri Lanka’s National Union of Seafarers (NUSS), was recently inaugurated in Colombo. The facility aims to address the physical, mental, and legal needs of seafarers, with a focus on both local and international maritime workers transiting through Colombo’s port and airport.

NUSS President Boa Athu stated that the centre anticipates serving 800–1,000 seafarers in its first year, with plans to expand services as demand grows. While priority access is given to NUSS members and ITF-affiliated seafarers, the facility will also welcome foreign crew. Athu emphasized that non-members are encouraged to join NUSS for full benefits, calling it a “win-win” for affordability and accessibility.

The centre is funded entirely by NUSS and the ITF Seafarers Trust, with no direct government or private-sector partnerships. Athu expressed confidence in long-term sustainability, citing plans to enhance service quality and membership growth as key strategies to navigate economic challenges.

“The Palace” will provide family-friendly accommodations, mental health workshops, a gym, recreational spaces, and medical services. A dedicated ITF inspectorate, led by veteran official Ranjan Perera, will handle crisis support such as abandonment cases, wage theft recovery, and emergency repatriation. Perera’s team has already repatriated a seriously injured seafarer and reclaimed over $3 million in stolen wages.

Colombo was selected due to its status as a major transit hub for seafarers in South Asia. While the centre addresses gaps in regional welfare infrastructure, Athu revealed plans to launch similar facilities outside Colombo in the future.

English will serve as the primary language, though staff training and peer support among seafarers aim to bridge cultural and linguistic gaps. The centre also offers a mental health hotline (1331) and a mobile app, which will be upgraded to integrate “The Palace’s” services.

Key performance indicators include annual occupancy rates, the number of members served, and reductions in issues like abandonment. ITF and NUSS will jointly monitor outcomes to ensure effectiveness.

The centre pledges support for seafarers caught in conflicts or disasters, such as those navigating the Red Sea crisis. “Our doors will always be open in emergencies,” Athu affirmed.

The initiative aligns with ITF and NUSS goals to elevate seafarer welfare standards globally and support Sri Lanka’s ambition to add 50,000 new seafarers to its workforce. “We’re all singing from the same songbook,” said Athu, calling the project a “challenging but exciting” step forward for the industry.

The launch underscores Colombo’s growing role in maritime welfare, combining local expertise with international partnerships to safeguard seafarers in an increasingly complex global trade landscape.

By Sanath Nanayakkare

Dialog Enterprise, the corporate ICT solutions arm of Dialog Axiata, continues to lead the way in delivering enterprise-grade wireless connectivity, empowering businesses with high-performance networking solutions. As a pioneer in Business Connectivity, Dialog Enterprise has deployed advanced wireless connectivity solutions across corporate offices, industrial factory floors, and leading hospitality venues, ensuring seamless connectivity tailored to the unique demands of each sector.

Taking a significant step forward, Dialog Enterprise, in collaboration with the global technology innovator Huawei, has now deployed Sri Lanka’s first Wi-Fi 7 network at two key partner locations: the Sri Lanka Institute of Information Technology (SLIIT) and The Kingsbury Hotel. These deployments mark the beginning of a nationwide transformation, bringing next-generation wireless capabilities to organisations that demand high-speed, ultra-reliable, and secure connectivity.

Wi-Fi 7 is designed to cater to environments with high traffic, a vast number of connected devices, and extreme throughput requirements. Using the latest 6 GHz spectrum, 4K-QAM modulation, and Multi-Link Operation (MLO), Wi-Fi 7 delivers speeds up to four times faster than its predecessor, with significantly lower latency. This makes it ideal for industries requiring real-time collaboration, high-definition video streaming, large-scale cloud applications, and AI-driven operations.

At SLIIT, the Wi-Fi 7 deployment enhances virtual learning, collaborative research, and an enriched student experience, supporting the institution’s digital-first approach to education. At The Kingsbury Hotel, ultra-fast, high-capacity Wi-Fi ensures guests enjoy buffer-free streaming, seamless remote work, and smart room integrations for an enhanced hospitality experience. Beyond education and hospitality, Wi-Fi 7 has the potential to impact industries such as healthcare, manufacturing, and security. It could enable real-time telemedicine, rapid transfer of large medical files, and IoT-enabled smart medical devices in healthcare. In manufacturing, the ultra-fast network may support smart factory automation, seamless device communication, and predictive maintenance analytics. For security and defence, Wi-Fi 7’s low latency and advanced encryption capabilities could enhance real-time surveillance and rapid data processing for critical infrastructure.

“Wi-Fi 7 represents a major leap in connectivity, enabling industries to meet growing digital demands with greater speed, capacity, and security. Our partnership with Dialog Enterprise ensures businesses benefit from cutting-edge wireless solutions that drive innovation and efficiency,” said Hao Zhiqiang, Vice President, Sri Lanka Enterprise Business of Huawei.

“Wi-Fi 7 represents a transformative leap in connectivity, enabling organisations to meet the ever-growing demands of digital transformation. Whether in education, hospitality, or enterprise, our goal is to provide cutting-edge wireless solutions that deliver exceptional performance, reliability, and security,” said Navin Pieris, Group Chief Officer of Dialog Enterprise. “Our collaboration with leading global partners ensures we bring best-in-class innovations to our customers, helping them stay ahead in a hyper-connected world.”