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Stock investors continue to agonize over debt restructuring timeline

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By Hiran H. Senewiratne

The stock market yesterday too was marginally down as local and foreign investors continue to worry over the conclusion of the external debt restructuring process, which was scheduled to be completed before the end of this month. However, since it has been postponed until next year, investors continue to agonize over the timeline, market analysts said.

Further, investors are also awaiting IMF comments on the Sri Lanka economy which are to be made towards the end of this week. ‘This matter has created some confusion for every citizen in the country, analysts added.

Turnover stood at Rs 7 billion with nine crossings. Those crossings were reported in DFCC, which crossed 42.4 million shares to the tune of Rs 3.5 billion; its shares traded at Rs 85, Citizens Development Finance 2 million shares crossed for Rs. 496 million; its shares traded at Rs 248, JKH 6.3 million shares crossed to the tune of Rs 126 million and its shares traded at Rs 19.90, Sampath Bank 880,000 shares crossed to the tune of Rs 83.4 million; its shares sold at Rs 98.90, Commercial Bank 365,000 shares crossed to the tune of Rs 45 million; its shares traded at Rs 123.50, Melstacope 219,000 shares crossed to the tune of Rs 23.6 million; its shares traded at Rs 108, Hayleys Fabrics 455,000 shares crossed for Rs 22.2 million and its shares sold at Rs 48.80, Access Engineering 814,000 shares crossed to the tune of Rs 22 million; its shares fetched Rs 21 and Dipped Products 525,000 shares crossed to the tune of Rs 21 million; its shares sold at Rs 40.

In the retail market companies that mainly contributed to the turnover were; JKH Rs 464 million (23.1 million shares traded), Sampath Bank Rs 283 million (2.9 million shares traded), Commercial Bank Rs 175 million (1.4 million shares traded), Access Engineering Rs 114 million (4.2 million shares traded), DFCC Rs 88 million (1 million shares traded) and HNB Rs 73.9 million (324,000 shares traded). During the day 161 million share volumes changed hands in 18000 transactions.

It is said that the banking and financial sector was the largest contributor to the turnover, especially with DFCC Bank crossings and retail trading surpassing more than 50 percent of the turnover. During the day the banking sector performed well, especially Citizens Development Finance.

The manufacturing sector became the second largest contributor to the turnover and JKH was the main entity which contributed to yesterday’s turnover.

The rupee opened weaker at Rs 291.05/15 to the US dollar from 290.95/291.10 to the US dollar on the previous day, dealers said, while bond yields were stable.

A bond maturing on 15.12.2026 was quoted at 10.20/25 percent, down from 10.10/20 percent. A bond maturing on 15.12.2027 was quoted at 10.80/90 percent, down from 10.75/85 percent. A bond maturing on 15.02.2028 was quoted at 11.05/10 percent, down from 11.00/10 percent. A bond maturing on 15.09.2029 was quoted at 11.35/45 percent, down from 11.25/40 percent.



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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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