Business
CSE hits Rs. 23 billion record turnover; Browns Investments transactions account for 73 per cent
By Hiran H.Senewiratne
The CSE recorded its highest ever turnover yesterday amounting to more than Rs. 23 billion, with crossings and retail tradings in Brown Investments shares contributing approximately 73 percent to the turnover. Companies belonging to Ishara Nanayakkara, namely Oxford Capital Pvt Limited and Churchill Capital Pvt Limited sold their shares in Browns Investments to Brown and Company, stock market analysts said.
It is said that Oxford Capital held 1.1 billion and Churchill Capital 985 million of Browns Investments shares and together they sold 2.6 billion shares to the tune of Rs. 16.85 billion, with each share being traded at Rs. 5.40. With the crossings Brown and Company which held a 46.06 percent stake in Browns Investments increased its shareholding to 60.64 percent, stock analysts said.
Amid those developments, in the early session of the day the CSE witnessed some selling pressure. However with the Browns Investments crossings or internal transactions, the market became normal, but both indices indicated a downward trend. All Share Price Index went down by 101 points and S and P SL20 went down by 77.57 points. Turnover stood at Rs. 23.75 billion with the crossing in Browns Investments.
In the retail market top five companies that mainly contributed to the turnover were, LOLC Holdings Rs. 1.37 billion (2.6 million shares traded), Sampath Bank Rs. 590 million (2.94 million shares traded), Expolanka Rs. 515.5 million (9.8 million shares traded), Browns Investments Rs. 514 million (76.4 million shares traded) and Vallibel One Rs. 513 million (6.2 million shares traded). During the day 86 billion share volumes changed hands in 42246 transactions.
In terms of volume of shares and number of trades, the performance in January was unprecedented. Over 10 billion shares changed hands via 960,300 trades. In comparison just 84 million shares in January last year and 163 million in 2019. The number of trades in January of 2020 and 2019 were 19,790 and 22,854 respectively.
CSE saw rapid net foreign selling though analysts opined they can’t be blamed as they are making rightful capital gains exiting when the market was on the rise. This was evident by the fact that Sampath Bank, which rose on the share sub division move, saw Rs. 1.9 billion in net selling. JKH saw Rs. 891 million worth of exits.
Friday’s net foreign selling was Rs. 2.3 billion, highest in nine months and took the year to date figure to Rs. 8.5 billion. Foreign investors sold Rs. 4.57 billion net last week as opposed to Rs. 2.36 billion a week earlier.
Sri Lanka rupee quoted stronger at 191/192 levels in the spot market yesterday, while bond yields were flat in dull market trade, dealers said. The rupee closed around 191.25/192 to the US dollar on Friday.
Business
Ceylon Chamber’s Investment Summit 2026 to steer Sri Lanka beyond stabilisation
Sri Lanka’s national economic discourse takes center stage today as the country’s premier private-sector body, The Ceylon Chamber of Commerce, hosts the Sri Lanka Economic & Investment Summit 2026 at the Shangri-La Colombo.
Convening on October 12 and 13, the two-day summit brings together an influential gathering of senior policymakers, international financiers, multilateral development partners, and private-sector captains to chart the island’s next phase of macroeconomic growth.
Held under the theme “Positioning Sri Lanka in a Changing Global Economy: Resilience, Reform, and the Future of Economic Policy,” this year’s forum marks a critical inflection point in the nation’s post-crisis trajectory.
As Sri Lanka shifts its emphasis from immediate financial stabilization toward sustainable, long-term expansion, the summit aims to address the structural imperatives necessary to secure high-impact foreign direct investment (FDI), deepen regional trade integration, and unlock emerging sectors of economic activity.
The core agenda over the two days focuses on building resilience across volatile global market cycles while executing targeted policy reforms. Key working sessions will examine:
Regional Value Chains & Trade Integration: Leveraging Sri Lanka’s strategic Indian Ocean geography to capture higher-value export flows and commercial linkages.
Energy & Infrastructure Transformation: Accelerating renewable energy integration and modernizing national utility policy.
Digital Economy & Public Modernization: Deploying digital technologies across public administration and financial services to enhance operational efficiency and transparency.
Sectoral Priorities: Modernizing healthcare infrastructure and agricultural value-addition to build a robust domestic economic base.
A defining feature of this year’s summit is the strong convergence between state policy and global commercial expertise. Keynote addresses and panel discussions will feature prominent leaders, including Prime Minister Dr. Harini Amarasuriya and T. Krishnakumar, Chief Executive Officer of Reliance Consumer Products Ltd.
They will be joined by senior delegations and policy experts from major global institutions, including:
= The Asian Development Bank (ADB)
= The International Finance Corporation (IFC)
= Standard Chartered Bank
= Zydus Lifesciences
The active participation of the country’s highest executive and legislative leadership across both days underscores a clear policy commitment to private-sector-led growth. By establishing a direct, high-level platform for dialogue between investors and policymakers, the Ceylon Chamber’s summit seeks to refine regulatory frameworks, improve the ease of doing business, and establish a clear, predictable environment for capital formation in the years ahead.
Business
White House blocks Microsoft from foreign worker hiring programme
Microsoft and several other technology firms have been barred by the White House from hiring skilled international workers on a permanent basis through a widely used visa programme.
US Vice-President JD Vance on Thursday accused Microsoft alongside other firms of committing fraud through the use of the H-1B visa programme and a related process for workers from abroad to become permanent US residents.
Vance claimed that Microsoft, one of the most valuable companies in the US, has been effectively replacing American workers with “foreign indentured servants.”
Microsoft said most of the H-1B visas filed over the last financial year were for existing workers, who are paid the same as local staff.
“No company in the US has abused this system more than Microsoft,” Vance said.
He also made similar accusations about Adobe, Cognizant, Infosys, Tata, Wipro, HCL and Capgemini.
The US government will not process any new or pending Permanent Labor Certification Program (PERM) applications from Microsoft or the seven other companies, Secretary of Labor Keith Sonderling said during the same conference.
Sonderling said companies like Microsoft, as well as US universities, have turned into “visa mills” that were “flooding” the US with foreign workers.
The BBC has contacted all of the companies for comment.
The total number of H-1B visas, a precursor to anyone seeking to go through the PERM process, is capped at 85,000 per year.
A spokeswoman for Microsoft noted to the BBC that “the vast majority of Microsoft employees in the United States are Americans.” The company employs more than 200,000 people worldwide.
Business
ComBank unites stakeholders to prepare agri sector for El Niño
In response to emerging climate risks, the Commercial Bank of Ceylon has launched a proactive initiative through its Development Credit Department, to equip Sri Lanka’s agricultural sector against the potential impacts of the 2026 El Niño climate pattern.
Seeking to move the industry from reactive loss management to early climate preparedness, the Bank partnered with leading state universities to execute a two-part educational and technological intervention in September 2026.
The initiative comes at a critical juncture. Sri Lanka’s Department of Meteorology reported an 80% probability of El Niño conditions emerging between June and August 2026, with effects expected to persist through November and beyond. As highlighted by the Food and Agriculture Organization (FAO), El Niño acts as a risk multiplier for rural livelihoods, food production, and water supply.
To mitigate these threats, the Bank’s initiative creates a collaborative network uniting academic institutions, agricultural extension services, technology providers, farming communities, and the financial sector. The awareness programme on El-Niño and its impact on agriculture was supported by 12 Commercial Bank branches, and engaged with more than 1,100 farmers at 15 diverse locations, including Vattapalai, Muththajankaddu, Palampas, Oddusuddan, Siyambalanduwa, Lindula, Neluwa, Kalawana, Pannala, Madampe, Mannar, Vavuniya and Kumalamunai.
-
Features5 days agoThe Sri Lankan who made Scottish history
-
Features7 days agoPreventing grievances from becoming communal
-
Sports5 days agoNissanka absence opens door for Sri Lanka’s young guns
-
News6 days agoGnansara Thera to be assigned to prison printing section: Officials
-
News4 days agoNDB fraud Rs 60mn more than reported
-
News4 days agoRemoving monk’s robes matter for Sangha to decide: Mahanayake Theras
-
Features5 days agoFuture of Sri Lanka’s state university system: Should it be shut down and reopened?
-
News6 days agoOIC of FCID summoned before Maligakanda Magistrate
