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Two CSE circuit breakers as fears grow over shrinking foreign reserves

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By Hiran H.Senewiratne

CSE trading activities yesterday experienced two major circuit breakers. Consequently, the most liquid index plunged below 8 per cent. According to stock brokers, the market halted at 11.17 am when the S&P SL20 index fell over 5 per cent and again at 12.13 pm when the same index fell more than 7.5 per cent.

Due to this scenario a fresh buying interest was propped up but due to its steep fall, the stock market was unable to recover its momentum. The government’s decision to pay off the US $ 34 million fuel bill from the Treasury to a Singapore company created volatility in the stock market. This is because investors became concerned about a further deterioration of foreign reserves, which would result in the printing of rupees. This created inflationary pressure for the economy, market analysts said.

The broader index fell to the intraday lowest at 10,811.27 points, losing 6.74 per cent or 781.03 points. However, the market picked up slightly following this plunge to settle at 11,179.04 points at 2.30 pm, provisional data showed. S&P SL20 of the most liquid stocks was more than 4 per cent or 169 points to 3,756.68 points and the All- Share Price Index plunged to 800 points but later settled down to 400.4 points.

Turnover stood at Rs 4.52 billion with two crossings. Those crossings were reported in Lion Brewery, which crossed 80000 shares to the tune of Rs 42,8 million and its shares traded at Rs 535 and Hemas Holdings 380,000 shares crossed to the tune of Rs 23.75 million, its shares traded at Rs 62.50.

In the retail market top seven companies that mainly contributed to the turnover were; Expolanka Holdings Rs 1.17 billion (4.5 million shares traded), Browns Investments Rs 614 million (53 million shares traded), LOLC Holdings Rs 228 million (256,000 shares traded), Royal Ceramic Rs 201 million (3.5 million shares traded), LOLC Finance Rs 170 million (8.4 million shares traded), Hayleys Rs 150 million (1.5 million shares traded) and Commercial Leasing and Finance Rs 139 million (3.5 million shares traded).

Market analysts had been predicting a nosedive as margin calls kicked in and the economic crisis in the country worsened as extended power-cuts took hold amid a fuel shortage and a dollar crisis. Analysts said this eroded investor confidence in the market. Stockbrokers said LOLC and Expolanka accounted for nearly 50 per cent of the market plunge. Expolanka, LOLC Holdings, and Browns Investments were the forerunners of the plunge.

Expolanka Holdings, the market heavyweight, slipped 8.90 per cent to close at Rs 261.00 a share, while LOLC Holdings went down 8.93 per cent to close at Rs 909.75 a share. Browns Investment fell 13.08 per cent to close at Rs 11.30 a share.

Yesterday the US dollar was quoted at Rs 202.65, which was the Central Bank controlled exchange rate. The actual floating exchange rate of the US dollar would be more than Rs 250. With this rate, the dollar would touch more than Rs 300 towards the end of the year, informed sources said.



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HNB Assurance Recognized with Merit Award at the Great HR Awards 2025

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Team HNBA at the Great HR Awards

HNB Assurance PLC was recognized at the Great HR Awards 2025, receiving the Merit Award in the Finance, Insurance, Real Estate, and Investment sector. This recognition reflects the company’s continued commitment to strengthening its people strategy, nurturing a progressive culture, leveraging technology and maintaining strong industrial relations.

Sharing his thoughts on this accomplishment, Lasitha Wimalarathne, Executive Director / Chief Executive Officer of HNB Assurance PLC, stated, “This recognition reiterates our belief that people are the true drivers of our success. Over the years, we have invested significantly in building an environment where our teams feel inspired and supported to deliver their best. As we continue to grow as one of Sri Lanka’s best insurance companies, this award reflects our ongoing efforts to build a workplace where both our people and our business can thrive. My sincere thanks go out to our HR team for continuously driving these initiatives.”

Commenting on the award, Navin Rupasinghe, Head of HR / DGM at HNB Assurance PLC, said, “Our people-first philosophy shapes every HR initiative we design, from strengthening learning pathways and leadership development to enhancing employee well-being and engagement. This recognition validates our ongoing efforts to build a workplace culture grounded in trust, inclusivity and performance. As we look ahead, we remain committed to evolving our HR practices to meet the expectations of our people and the future of work. My sincere thanks to the CIPM for this recignition.”

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MullenLowe Sri Lanka named Creative Agency of the Year in South Asia

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MullenLowe Sri Lanka has been awarded Gold as the Rest of South Asia’s Creative Agency of the Year at the Campaign Agency of the Year Awards 2025, held recently at Mumbai’s ITC Maratha Hotel. The accolade marks a landmark year for the agency, driven by breakthrough ideas, ambitious brands, and a surge in economic activity.

Campaign Agency of the Year – South Asia 2025 (Rest of South Asia – Creative Agency) awarded to MullenLowe Sri Lanka

Guided by a clear creative vision and extensive category expertise across 111 brands in 33 sectors, MullenLowe strengthened its position through strategic leadership appointments, talent acquisition, and the integration of AI-enabled tools. These initiatives created an environment where creativity, learning, and commercial impact worked in tandem, supporting long-standing client relationships and consistent new business momentum.

Thayalan Bartlett, Executive Chairman, said, “Our growth is rooted in a people-first, creative-centred culture. By attracting top talent and focusing on continuous upskilling, we have enriched both our creative and strategic capabilities.”

The agency’s innovation was further enhanced by Fever, its AI-enabled production studio, and LoweGo, a subscription-based design unit, enabling faster and more scalable solutions for modern marketers. Training programs, including an international AI workshop in Baku for top creative minds, helped unify teams around technology-driven creativity, leading to MullenLowe’s highest Effie points haul in a decade.

Harendra Uyanage, Senior Vice President and Executive Creative Director, added, “This recognition celebrates a team that constantly stretches its creative boundaries, transforming every brief into opportunity.”

The win adds to a series of recent accolades, including Most Effective Agency of the Year at the 2024 Effie Awards, and multiple awards at Dragons of Sri Lanka and SLIM Digis 2025, cementing MullenLowe’s vision to become Sri Lanka’s most commercially impactful creative company by 2030.

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ComBank named Sri Lanka’s Best Trade Finance Bank at Euromoney Awards 2025

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Com Bank honoured for outstanding support to Sri Lanka’s trade sector

The Commercial Bank of Ceylon PLC was named Sri Lanka’s Best Trade Finance Bank at the prestigious Euromoney Transaction Banking Awards 2025, in recognition of the Bank’s strong performance and continued contribution to supporting Sri Lanka’s export and import sectors.

This global recognition from Euromoney, a leading authority in financial markets, celebrates institutions that demonstrate innovation, leadership, and measurable impact in transaction banking across cash management, payments, trade finance, and technology. Commercial Bank is Sri Lanka’s clear market leader in trade finance, commanding a 21% share in exports and a 14.26% share in imports, demonstrating its strong presence across both segments.

In 2024, the Bank supported over US$ 5 billion in trade transactions, underscoring its unmatched role in enabling the flow of goods, services, and foreign exchange. Its leadership has also been recognised regionally by the Asian Development Bank (ADB), which named Commercial Bank its Leading Partner Bank in Sri Lanka for the fourth consecutive year under the Trade and Supply Chain Finance Programme.

At the forefront of Commercial Bank’s recent innovations is ComBank TradeLink, Sri Lanka’s first fully integrated, end-to-end digital trade finance platform. The system brings all trade finance operations – from Letters of Credit to export collections and shipping guarantees – into one secure online interface, providing customers real-time visibility, faster processing, and paperless convenience. This digitalisation drive has redefined the client experience, reduced manual processes and improved turnaround times across thousands of transactions.

The Bank’s commitment to advancing Sri Lanka’s trade sector extends beyond technology. Through initiatives such as the ComBank Trade Club, which facilitates connections between buyers and suppliers both locally and internationally, and ComBank LEAP | GlobalLinker, a digital business networking platform for SMEs, the Bank is actively building bridges between Sri Lankan entrepreneurs and global markets. Its Diribala Exporter Development Programme further empowers micro, small, and medium enterprises to become export-ready, providing access to expert guidance, training, and financial support.

Reflecting on the award, Commercial Bank said the recognition from Euromoney was a tribute to the trust placed in the Bank by Sri Lanka’s exporters and importers, and to the dedication of its trade finance teams who continue to innovate and deliver excellence in a rapidly evolving global landscape.

As Sri Lanka’s largest private sector bank and the first to surpass US$ 1 billion in market capitalisation, Commercial Bank continues to lead in supporting national trade, driving digital transformation, and shaping a more inclusive and resilient export economy, the Bank said.

Commercial Bank was the first bank in the country to be listed among the Top 1000 Banks of the World, and has the highest Tier I capital base among all Sri Lankan banks. The Bank is the largest private sector lender in Sri Lanka and the largest lender to the country’s SME sector. Commercial Bank is also a leader in digital innovation and is Sri Lanka’s first 100% carbon-neutral bank.

Commercial Bank operates a network of strategically located branches and automated machines island-wide, and has the widest international footprint among Sri Lankan banks, with 20 branches in Bangladesh, a fully-fledged Tier I Bank with a majority stake in the Maldives, a microfinance company in Myanmar, and a representative office in the Dubai International Financial Centre (DIFC). The Bank’s fully owned subsidiaries, CBC Finance Ltd. and Commercial Insurance Brokers (Pvt) Limited, also deliver a range of financial services via their own branch networks.

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