Business
ASPI ends sharply lower with most sectors witnessing declines

By Hiran H.Senewiratne
Trading activities at the Colombo Stock Exchange (CSE) were positive in the early part of yesterday, however, an acute market downturn was witnessed due to profit taking towards the end of the day especially at blue chip counters, market analysts said.
“The ripple effect from the global markets due to tensions between Russia and the western world on Ukraine as well as high inflation rate recorded in major global economies continue to reflect on emerging markets like Sri Lanka,” they said.
“Overall however, CSE was able to maintain a healthy turnover level despite profit taking”, they said.
Amid such developments both indices moved downwards. All Share Price Price down by 173.9 points and S and P SL20 down by 111 points. Turnover stood at sis billion with two crossings. Those crossings were reported in Hemas Holdings, which crossed 1.3 million shares to the tune of Rs 91 million and its share price traded at Rs 70 and Vallibel One 350,000 shares crossed to the tune of Rs 32.5 million and its share price traded at Rs 93.
In the retail market top seven companies that mainly contributed to the turnover were Expolanka Holdings Rs 1.26 billion (3.2 million shares traded), Softlogic Life Insurance Rs 512 million (4.1 million shares traded), Browns Investments Rs 339 million (20.3 million shares traded), Kelani Valley Plantations Rs 201 million (1.6 million shares traded), Ceylon Cold Stores Rs 201 (289,000 shares traded), ACL Cables Rs 191 million (1.5 million shares traded) and Grain Elevators Rs 185 million (1.3 million shares traded). During the day 151 million shares volume changed hands in 51000 transactions.
During the day Ceylon Cold Stores share price appreciated by 24 percent or Rs 127.75 after announcing a share subdivision on the basis of one into 10 to boost the number of shares without a corresponding increase in the stated capital. At present, CCS had 95.04 million shares in issue, and post-subdivision, it will increase to 950.4 million.The CCS share startered trading at at Rs. 525.75 at the end of the day it shot up to Rs 649.. The move is subject to shareholder approval at an EGM. The public float of CCS is 18.56 percent held by 2,264 shareholders.JKH saw 80.65 million of its shares traded for Rs. 12.98 billion. Single biggest shareholder, the Canada-based global financial services giant Fairfax, transferred part of its holding via Citigroup Global Markets Ltd. Agency Trading Prop Securities to related party HWIC Asia Fund.Citigroup Global Markets Ltd. Agency Trading Prop Securities as of 30 September 2021 held 141.85 million shares, or 10.7 percent . Of that, 80.16 million shares were transferred to HWIC Asia Fund via two crossings at Rs. 161 per share. The balance stake is expected to be transferred as well to HWIC Asia Fund which held 39.2 million shares, or 3.2 percent stake, in JKH as of 30 September 2021.
Business
President briefs Sri Lankan delegation leaving for tariff related discussions in Washington

A Sri Lankan delegation is set to participate in discussions in Washington, D.C., focusing on tariff-related matters, following an invitation extended by the Office of the United States Trade Representative (USTR). This is the second in-person meeting aimed at ongoing efforts to strengthen bilateral trade relations between the two nations.
This initiative builds on several prior virtual interactions held between the USTR and Sri Lankan officials, and underscores a commitment to deepening economic ties. The upcoming talks are anticipated to explore avenues for enhancing trade cooperation and securing favourable outcomes for Sri Lanka, in light of current economic priorities.
Ahead of the visit, a high-level meeting was convened today under the leadership of President Anura Kumara Disanayake to ensure the country’s interests are well represented. The discussion focused on aligning the delegation’s approach with Sri Lanka’s broader economic strategy, ensuring the best possible outcomes from the upcoming discussions.
Key participants at the meeting included Deputy Minister of Finance and Planning Dr. Harshana Suriyapperuma; Secretary to the Ministry of Trade, Commerce, Food Security and Cooperative Development, K.A. Vimalenthirarajah; Duminda Hulangamuwa, Senior Economic Advisor to the President; Governor of the Central Bank Dr. Nandalal Weerasinghe; Secretary to the Ministry of Finance, Planning and Economic Development K.M.M. Siriwardana; Nirmal Vigneshwaran, representing the Attorney General’s Department; and Dharshana Perera from the Ministry of Foreign Affairs.
Details of the discussions in Washington are expected to be made available following the conclusion of the meetings.
[PMD]
Business
“Tourism Renaissance 2025” launched under the patronage of president

Sri Lanka’s largest tourism exhibition, “Tourism Renaissance 2025” (Sancharaka Udawa 2025), was inaugurated on Friday (23) at the Bandaranaike Memorial International Conference Hall (BMICH) in Colombo under the patronage of President Anura Kumara Disanayake.
Organized jointly by the Sri Lanka Tourism Promotion Bureau (SLTPB) and the Sri Lanka Association of Inbound Tour Operators (SLAITO), this event brings together key stakeholders across the tourism industry. It offers a valuable platform for small and medium-scale enterprises, as well as individuals aspiring to enter the tourism sector, to connect with market opportunities and showcase their products and services.
The two-day exhibition, which ends on Saturday [24], features 250 trade stalls and includes participation from a wide range of sectors such as hotels, tour operators, airlines, service providers and educational institutions.
Speaking at the opening ceremony, Minister of Foreign Affairs, Foreign Employment and Tourism Vijitha Herath stated that the government has declared 2025 the “Year of Tourism Renaissance,” with plans to generate USD 5 billion in revenue from the tourism sector by the end of the year.
Also in attendance at the opening ceremony were Secretary to the Ministry of Foreign Affairs, Foreign Employment and Tourism Aruni Ranaraja, SLAITO Chairman Nalin Jayasundara, SLTPB Chairman Buddhika Hewawasam and a distinguished group of invitees including the Ambassador of Germany to Sri Lanka.
Business
‘Be Part of the Plan’ – Sri Lanka’s theme for International Day for Biological Diversity

Sri Lanka celebrated International Day for Biological Diversity with a vibrant national event at the Popam Arboretum in Dambulla, centering on the theme “Be part of the Plan.” The celebration, attended by students, researchers, community members, and officials, was led by Minister of Environment Dr. Dhammika Patabendi, who emphasized the country’s commitment to preserving biodiversity and promoting sustainable development.
Delivering the keynote address, Minister Patabendi said, “As a government, we are committed to taking every possible step to protect our ecosystems and biodiversity. But this is not the responsibility of the government alone. It is a shared responsibility—one that requires the active participation of every citizen.”
The event highlighted the value of community involvement in conservation and featured a series of exhibitions and talks focused on sustainable tourism, traditional food systems, and environmental education. Locally sourced underutilized fruits and indigenous foods were displayed and shared by communities, underscoring the deep ties between biodiversity and traditional knowledge.
The celebration also featured two major guest lectures. Professor Cyril Wijesundara spoke on the current status of biodiversity in Sri Lanka, while Professor Gamini Pushpakumara presented on the promotion of underutilized food crops—a key element in ensuring food security and sustainability in the face of climate change.
“This is more than a celebration,” Minister Patabendi told journalists at the event. “It’s a reminder that sustainable development must go hand-in-hand with nature. We need to build our future with the forest, not against it.”
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