Business
Stock market hit by US tariff jitters but day ends on recovery note
Stock market investors panicked and the CSE was slightly volatile yesterday due to the US tariff revision on Sri Lankan exports coming into effect today. Consequently the market was a bit down during the initial sessions but later recovered and moved to green territory.
The All Share Price Index went up by 87.03 points, while the S and P SL20 rose by 14.1 points. Turnover, stood at Rs 5.6 billion. Seven crossings that were reported yesterday were; Access Engineering 2.9 million shares crossed to the tune of Rs 174 million; its shares traded at Rs 60, JKH five million shares crossed to the tune of Rs 119 million; its shares traded at Rs 23.80.
Melstacope 666,000 shares crossed to the tune of Rs 106 million; its shares traded at Rs 159, Sampath Bank 700,000 shares crossed for Rs 98 million; its shares traded at Rs 140, Union Bank 7.5 million shares crossed for Rs 90 million; its shares sold at Rs 12, NDB 616,000 shares crossed for Rs 83 million and its shares sold at Rs 136 and Central Finance 217,000 shares crossed for Rs 61.9 million; its shares traded at Rs 309.
In the retail market top seven companies that contributed to the turnover were; JKH Rs 373 million (15.6 million shares traded), DFCC Rs 273 million (1.8 million shares traded), Browns Investments Rs 178 million (22.5 million shares traded), NDB Rs 148 million (1.1 million shares traded), Commercial Credit Rs 139 million (1.2 million shares traded), Kelani Valley Plantations Rs 136 million (1.3 million shares traded) and Union Bank Rs 124 million (10.1 million shares traded). During the day 205 million share volumes changed hands in 31000 transactions.
It is said that the manufacturing sector led the market, especially JKH, while the banking and finance sector became the second largest contributors to the turnover. Further, the plantation sector was also active on the floor.
DFCC Bank will issue 5 year redeemable blue bonds to raise Rs 3 billion. The bank said it had decided to issue up to 30 million senior, listed, rated, unsecured, redeemable blue bonds at Rs 100. The issuance will comprise two categories of bonds.
It is said that fixed-rate coupon bonds are to be issued at a par value of Rs 100 with maturities of up to 5 years and zero-coupon bonds are to be issued at a discount to face value, with maturities of up to 5 years. The coupon/interest rates (and/or yield to maturity) are to be decided prior to the finalization of the Trust Deed based on the market rates prevailing at that point in time, the bank said. The issue is subject to obtaining all necessary regulatory and other approvals.
Cargills Bank said it is looking to boost capital and reduce the holdings of its parent, Cargills group, in line with a Central Bank requirement. The Central Bank has asked the bank to reduce the stake of its parent to 50 percent by the end of 2025, through market mechanisms. It was also asked to ‘explore options to diversify the ownership structure” to reduce the Cargills group voting shares from 60.71 percent to 15 percent by 2029.
Yesterday, rupee opened at Rs 302.15/20 to the US dollar in the spot market, stronger from 302.20/30 the previous day, while bond yields held broadly steady, dealers said.
A bond maturing on 15.10.2028 was quoted at 9.00/02 percent, down from 9.00/05 percent. A bond maturing on 15.12.2029 was quoted at 9.53/56 percent, up from 9.52/56 percent. A bond maturing on 01.07.2030 was quoted at 9.75/80 percent. A bond maturing on 15.12.2032 was quoted at 10.40/50 percent.
Telegraphic transfer rates were quoted as follows; British pound buying was 394.7318, selling 406.0736, Euro buying 338.9425, selling 350.1477, American dollar 298.5000 and 305.5000.
By Hiran H.Senewiratne ✍️
Business
Malaysia courts more Sri Lankan travelers as ‘Visit Malaysia 2026’ gathers steam
Malaysia is intensifying efforts to attract more Sri Lankan travelers by promoting its diverse tourism offerings, strong air connectivity, Muslim-friendly facilities and expanding business partnerships ahead of the ‘Visit Malaysia 2026’ (VMY2026) campaign.
Addressing the Tourism Malaysia product presentation yesterday in Colombo, Malaysian High Commissioner to Sri Lanka Badli Hisham Adam said tourism remains one of the strongest pillars of the long-standing bilateral relationship between Malaysia and Sri Lanka, helping strengthen cultural understanding, business links and people-to-people ties.
The event, organised by Tourism Malaysia Chennai in collaboration with the High Commission of Malaysia in Colombo, brought together Malaysian tourism stakeholders, airline representatives, Sri Lankan travel industry professionals and members of the media to explore new business opportunities.
The High Commissioner said Sri Lanka continues to be an important source market for Malaysia, with growing numbers of Sri Lankan travelers seeking destinations that combine diversity, affordability, quality experiences and convenient connectivity.
“As part of ‘Visit Malaysia 2026’, we warmly invite Sri Lankan travelers to discover the richness of Malaysia, he said.
Highlighting Malaysia’s tourism strengths, the envoy said the country offers a wide range of attractions, including multicultural cities, UNESCO World Heritage Sites, pristine beaches, tropical rainforests, cool highlands and unique wildlife.
These are complemented by world-class shopping, family-friendly attractions, educational opportunities, wellness and medical tourism, business events and internationally renowned hospitality.
He also stressed Malaysia’s position as the world’s leading Muslim-friendly destination, supported by an extensive halal ecosystem with internationally recognised certification, halal-certified restaurants, easily accessible prayer facilities and family-oriented amenities across the country.
Despite ongoing geopolitical uncertainties around the world, the High Commissioner said Malaysia remains a stable, peaceful and welcoming destination for international travelers.
He urged Sri Lankan travel agents to strengthen collaboration with Malaysian tourism providers by developing innovative travel packages targeting leisure travelers, business visitors and event participants.
The presentation featured leading Malaysian tourism partners, including Wyndham Ion Majestic, Lotus Desaru, Key Term Holidays representing the Sabah Tourism Board and Asian Overland representing The PULSE Group, showcasing Malaysia’s diverse tourism experiences and investment in the Sri Lankan market.
The envoy also acknowledged the contribution of airline partners and the media in enhancing Malaysia’s visibility and improving travel connectivity between the two countries.
Looking ahead to ‘Visit Malaysia 2026’, he said the future growth of tourism would depend on stronger collaboration, innovation and meaningful partnerships between industry stakeholders.
He expressed confidence that closer cooperation between Malaysia and Sri Lanka would generate fresh business opportunities while encouraging more Sri Lankan visitors to experience Malaysia’s culture, diversity and hospitality.
The High Commissioner concluded by expressing hope that the networking session would lead to stronger commercial partnerships and contribute to the success of ‘Visit Malaysia 2026’, further deepening tourism and economic ties between the two friendly nations.
By Ifham Nizam
Business
Women Empowered Global launches ‘Leadership Lab’
Women Empowered Global (WEG), a network of award‑winning female leaders, corporate CXOs and entrepreneurs, experts and thought leaders dedicated to empowering women from six continents, unveiled the ‘WEG Leadership Lab’, a 24‑week virtual intensive programme, commencing 26 September. The programme is designed exclusively for women leaders who are ready to accelerate their careers, amplify leadership visibility, and drive transformational growth.
The women‑only leadership experience breaks the mould of conventional training, offering a powerful blend of masterclasses, mentorship, and practical leadership tools tailored for rising leaders, managers, and senior professionals. Participants will gain international exposure, sharpen essential skills, and the opportunity to join a vibrant knowledge‑sharing community which fosters confidence, resilience, and impact.
“The WEG Leadership Lab is not for casual growth. It is for women who are serious about transforming their leadership journey,” said Senela Jayasuriya, Founder/CEO, Women Empowered Global. “By combining global expertise with local delivery, we are creating pathways for women across manufacturing, trading, finance, marketing, technology, and management, as entrepreneurs, business owners, fractional executives, or corporate leaders, to thrive and build a more inclusive leadership landscape.”
WEG’s platform facilitates international exposure and career development for professionals and connects more than 4,000 members worldwide. The Leadership Lab builds on WEG’s flagship initiatives, including the 1 Million Women in Power campaign, the African Women Leadership Forum, the Business Hub, and the Global Online Academy. The programme aims to deliver a transformative journey equipping women to step boldly into leadership roles locally and internationally.
Led by Senela Jayasuriya (MBA, UK), an internationally recognized and awarded leadership & empowerment coach and innovation partner, keynote speaker, and certified expert, WEG collaborates with DEI specialists, corporate boards, Business and HR leaders, to design programmes which advance women’s careers, leadership visibility, equity, and inclusion. To date, she has successfully delivered leadership development programmes to more than 20,000 professionals.
Business
JKCG Auto and Green EV join forces to build Sri Lanka’s most expansive EV charging network
John Keells CG Auto (JKCG Auto), the authorised distributor of BYD and Denza in Sri Lanka, has launched a strategic partnership with Green EV on 26th June 2026 to significantly expand the charging infrastructure available to its customers across the island. The collaboration, formalised through a Memorandum of Understanding (MOU), marks a pivotal step in JKCG Auto’s ongoing commitment to building a comprehensive and reliable New Energy Vehicle (NEV) ecosystem in Sri Lanka.
Through this partnership, BYD and Denza owners will gain seamless access to Green EV’s public charging network of 100+ DC fast chargers and 70 AC chargers, spanning 20 districts and all nine provinces of Sri Lanka, from Jaffna in the north to Hambantota in the south, and from Puttalam on the northwest coast to Trincomalee and Ampara on the eastern seaboard, encompassing a mix of 40kW, 60kW, and 120kW fast-charging infrastructure. The network has been designed to ensure that customers can charge conveniently and confidently, whether in the heart of Colombo or in suburban and outstation communities, removing one of the most commonly cited barriers to EV adoption in Sri Lanka. Further strengthening customer confidence, Green EV has partnered with SLIC to provide a comprehensive insurance cover of LKR 100 million for every Green EV charging station, offering protection against potential damages and ensuring complete peace of mind for every user.
The initiative reflects JKCG Auto’s broader strategy to invest in the foundations of sustainable mobility, ensuring that the transition to electric vehicles is supported not only by world-class vehicles, but by a dependable ecosystem that addresses the practical needs of everyday ownership.
“If the future of mobility in Sri Lanka is going to be electric, success will hinge on how accessible we are able to make the actual vehicles, as well as the enabling infrastructure around them. JKCG Auto is proud to partner with other visionaries like Green EV to ensure that we eliminate range anxiety, so that every customer – whether in Colombo or anywhere in Sri Lanka will have the confidence to go electric,” JKCG Auto Chief Executive Officer, Charith Panditharatne.
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