CSE activities yesterday were not very strong due to the absence of progress in the US-Iran peace deal, market analysts said.

Owing to that both indices moved downwards. The All Share Price Index went down by 57.96 points, while the S and P SL20 declined by 25.77 points.

Turnover stood at Rs 4.92 billion with five major crossings. Those crossings were; Seylan Bank 26.6 million shares crossed to the tune of Rs 2.76 billion; its shares traded at Rs 26.60, Ceylon Land and Equity 14 million shares crossed to the tune of Rs 154 million; its shares traded at Rs 11, Digital Mobility Solutions 330,000 shares crossed for Rs 54.1 million; its shares traded at Rs 164, Sampath Bank 250,000 shares crossed for Rs 37 million; its shares sold at Rs 149.75 and JKH 1 million shares crossed for Rs 20.6 million; its shares traded at Rs 20.60.

In the retail market top seven companies that mainly contributed to the turnover were; Digital Mobility Solutions Rs 119 million (725,000 shares traded), Commercial Bank Rs 74.5 million (355,000 shares traded), Colombo Dockyard Rs 58.8 million (413,000 shares traded), Ceylon Grain Elevators Rs 53 million (110,000 shares traded), CIC Holdings (Non-Voting) Rs 45.3 million (1.6 million shares traded), CIC Holdings Rs 43.9 million (1.3 million shares traded) and JAT Holdings Rs 43.5 million (one million shares traded). During the day 185 million share volumes changed hands in 27859 transactions.

It is said that the banking sector counters led the market, especially with the Seylan Bank crossing, which contributed more than half to the day’s turnover. Further, manufacturing sector counters, especially JKH, also performed well.

Hikkaduwa Beach Resorts said it has temporarily shut down operations for refurbishment and operational improvements within the property. The stock was down 1.61 percent at Rs 6.10.

Yesterday the rupee was quoted at Rs 321.40/90 to the US dollar in the spot market, from Rs 321.70/90 on Friday, dealers said, while bond yields were broadly steady.

A bond maturing on 15.12.2028 was quoted at 9.75/85 percent.

A bond maturing on 15.10.2029 was quoted at 9.90/10.00 percent.

A bond maturing on 01.07.2030 was quoted at 10.10/15 percent, up from 10.05/15 percent.

A bond maturing on 15.03.2031 was quoted at 10.15/25 percent.

A bond maturing on 15.12.2032 was quoted at 10.70/80 percent.

A bond maturing on 01.11.2033 was quoted at 10.90/11.05 percent.

The telegraphic transfer rates for the American dollar were 318.3000 buying, 325.3000 selling; the British pound was 431.7273 buying, and 443.1725 selling, and the euro was 372.0629 buying, 383.6027 selling.

By Hiran H Senewiratne

China which has never maintained colonies is one of the permanent members of the United Nations Security Council (UNSC). Among other members (i.e. USA, UK, France and Russia) it is the only one to practice one country many systems of government. The Global Security Initiative (GSI) China proposed in April 2022 focused on resolving and preventing global conflicts addressing the root causes to strengthen global security governance. By 2026 (4 years later) the GSI is quoted in more than 140 internationally acknowledged inter/ intra state documents and endorsed by more than 130 countries and international organizations (Ref. Media). Especially in the present context where military might is irresponsibly used in anti human ways, China’s GSI is being referred by nearly 75% of the global community as a stabilizing force which stresses peaceful dialogues and win-win cooperation.

The unprecedented need

Peace loving majority may still question the real objectives of the ‘Arab Spring’ which took place more than 15 years ago. It was an era which strategic human resource management was used to de-establish many stable Arab states such as Egypt, Libya & Iraq etc. especially using online tools. It may have been to obstruct the birth of new economic powers. It’s not clear why Iran was spared then but with the latest developments GSI seems to be the global majority’s obvious choice to ensure global security stability. It promotes sustainable security and a comprehensive common vision with multilateralism as its core.

1. Upholding the UN’s central role

2. Promoting major-country coordination

3. Encouraging peaceful settlement

4. Tackling traditional/non-traditional threats

5. Strengthening global security governance

6. Actively participating in UN peacekeeping

7. Nuclear non-proliferation

8. Nuclear war prevention

9. Political settlement of regional hotspots

10. Counter-terrorism cooperation

11. Bio-security cooperation

12. Information/Cyber security

13. Artificial Intelligence (AI) governance.

14. Outer space security.

15. Maritime security

16. Food and energy security

17. Security cooperation with regional organizations

18. Protecting overseas interests

19. International policing cooperation

20. Capacity building (Ref. Chinese media)

Views expressed are personal/ Photo source www

By Prof. Samitha Hettige

In the ancient Silk Road city of Samarkand, where merchants once connected civilisations through trade and ideas, a new conversation unfolded from 3–6 May at the 59th Annual Meetings of the Asian Development Bank.Political leaders, central bank governors, investors, innovators and development partners gathered under a compelling theme: “Crossroads of Progress: Advancing the Region’s Connected Future.”

The message resonating across the forum was unmistakable. Asia and the Pacific are entering a decisive decade in which connectivity, technology and regional cooperation will shape economic power and social resilience. Supply chains are being redesigned. Artificial intelligence is transforming productivity. Energy systems are becoming increasingly interconnected. Financing models are evolving to accommodate climate pressures and development needs. Countries that move quickly and cohesively are likely to benefit from this transformation. Those trapped in internal fragmentation risk falling behind.

The Annual Meetings demonstrated that the future envisioned by the ADB is no longer theoretical. Across the region, governments are already repositioning themselves to participate in a more integrated Asian economy. Discussions focused heavily on cross-border infrastructure, digital innovation, energy interconnection, sustainable finance and regional policy harmonisation.

One recurring theme was that “integration is power.” In an era marked by geopolitical uncertainty and economic disruption, regional cooperation is increasingly viewed as the foundation of resilience. From trade corridors and logistics systems to energy-sharing mechanisms such as the ASEAN Power Grid, policymakers emphasised that countries can no longer afford to operate in isolation.

The conversations in Samarkand also reflected how development itself is being redefined. Data, digital infrastructure and artificial intelligence are becoming as important as roads, ports and airports. Governments across Asia are already deploying AI-enabled public services, fintech systems, smart agriculture and real-time disaster response technologies to improve efficiency and social inclusion.

Equally important was the recognition that public financing alone will not be enough to meet the region’s ambitions. The ADB repeatedly stressed the need for innovative financing mechanisms capable of mobilising private capital while strengthening domestic fiscal systems. Climate adaptation, energy transition and infrastructure expansion will require development finance that is scalable, catalytic and capable of attracting long-term investor confidence.

For Sri Lanka, the discussions carried particular significance.

Having emerged from one of the gravest economic crises in its post-independence history, Sri Lanka today stands at a delicate juncture. The country possesses many of the advantages needed to participate meaningfully in Asia’s next growth phase: strategic geographic positioning, human capital, maritime access and longstanding relationships with multilateral institutions such as the ADB. Yet the gap between potential and preparedness remains considerable.

While many Asian economies appear to have moved toward greater institutional maturity and long-term policy coordination, Sri Lanka continues to wrestle with recurring political instability, governance concerns, debt restructuring pressures and inconsistencies in economic policymaking. Questions surrounding legal processes, public sector reforms and policy continuity continue to affect investor confidence and national coherence.

The challenge facing Sri Lanka is therefore not merely economic. It is fundamentally institutional and political.

The larger Asian story unfolding in Samarkand was one of countries aligning national purpose with regional opportunity. Whether through digital transformation, energy integration or climate financing, many nations appear increasingly focused on continuity, coordination and long-term execution. Sri Lanka, by contrast, still appears engaged in resolving foundational questions about governance, accountability and economic direction.

This does not diminish the country’s prospects. Rather, it highlights the urgency of reform and policy harmonisation if Sri Lanka is to become a meaningful participant in the region’s connected future.

The ADB’s vision for Asia is ultimately centered on resilience through cooperation. It is a vision in which countries strengthen themselves not in isolation, but through deeper engagement with regional systems of trade, finance, energy and technology. For Sri Lanka, this presents both an opportunity and a warning.

The opportunity lies in leveraging multilateral partnerships, embracing digital modernisation, strengthening institutional credibility and integrating more deeply into emerging regional networks. The warning is that Asia’s transformation is accelerating. Countries unable to build stable governance structures and coherent development strategies may struggle to capture its benefits.

Samarkand itself offered a symbolic reminder of this reality. Historically, it flourished because it connected worlds. Today, Asia is once again building new networks of connection – digital, financial, infrastructural and geopolitical.

The question confronting Sri Lanka is whether it can align its political will and economic resilience quickly enough to travel alongside the region’s next decade of growth rather than watch it from the margins.

By Sanath Nanayakkare