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Panic grips Asian stock markets as US President slaps fresh global tariffs

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CSE trading was upbeat yesterday at the outset but later was hit by panic as US President Donald Trump threatened a 15 percent tax under a separate law or laws, according to analysts.

The US Supreme Court ruled in a 6-3 judgment recently that Trump did not have the authority to impose ad hoc tariffs citing a national emergency under the International Emergency Economic Powers Act (IEEPA), thus negatively impacting Asian stock markets, including the CSE.

The All Share Price Index went up by 9.38 points, while the S and P SL20 rose by 21.72 points. Turnover stood at Rs 2.5 billion with seven crossings. Those crossings were reported in Chevron Lubricants where 617,686 shares crossed to the tune of Rs 123.5 million; its shares traded at Rs 200, Melstacorp 400,000 shares crossed for Rs 72.8 million; its shares traded at Rs 182, LOLC 99,900 shares crossed for Rs 57 million; its shares traded at Rs 572, Royal Ceramics 748,000 shares crossed for Rs 37.7 million; its shares sold at Rs 50.40, Commercial Bank (Non Voting) 100,000 shares crossed for Rs 20.9 million; its shares sold at Rs 209, Dialog Axiata 634,000 shares crossed for Rs 20.7 million; its shares sold at Rs 32.70 and HNB 44000 shares crossed for of Rs 20 million; its shares fetched Rs 457.

In the retail market companies that mainly contributed to the turnover were; Prime Residencies Rs 191 million (3.5 million shares traded), HNB Rs 131 million (330,000 shares traded), Lee Hedges Rs 84.8 million (310,000 shares traded), Agstar Rs 83.6 million (7.1 million shares), Access Engineering Rs 83 million (1.1 million shares traded), Sampath Bank Rs 82 million (506,000 shares traded) and HNB Rs 52 million (114,000 shares traded). During the day 93.4 million share volumes changed hands in 30318 transactions.

It is said that banking, manufacturing, real estate and telecommunication sectors performed well. In the banking sector, HNB and Commercial Bank performed well. Real estate and real estate related companies also performed well.

Yesterday the rupee was quoted at Rs 309.35/40 to the US dollar in the spot market, from Rs 309.35/45 Friday, dealers said, while bond yields were broadly steady on the longer tenors and slightly higher on the shorter tenors.

For example;

A bond maturing on 15.02.2028 was quoted at 8.96/9.06 percent.

A bond maturing on 15.12.2029 was quoted at 9.45/55 percent, up from 9.48/53 percent.

A bond maturing on 01.03.2030 was quoted at 9.50/60 percent.

The telegraphic transfer rates for the American dollar were 305.8500 buying, 312.8500 selling; the British pound was 412.6211 buying, and 424.0687 selling and the euro was 359.4611 buying, 370.9823 selling.

By Hiran H Senewiratne



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Steps leading to the achievement of SL’s national interest in IOR

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Prof. Nobukatsu Kanehera: ‘Rulesbased order violated.’

Sri Lanka needs to build awareness, effective policies and encourage regional multilateral frameworks to develop a multi-pronged approach to secure its national interest and safeguard regional stability in the Indian Ocean Region (IOR), as the region together with its seabed have become an area of strategic competition, former Assistant Chief Cabinet Secretary to former Japanese Prime Minister Shinzo Abe, Prof Nobukatsu Kanehara said.

“The Indian Ocean has been a maritime highway for millennia, with Sri Lanka being a midway point of the flow of trade, culture, technology and intellectual progress, Prof Kanehara said at the 4th Pathfinder Foundation Sri Lanka Indian Ocean Security Council Conference held recently at the Cinnamon Grand Hotel. The forum was presided over by Pathfinder Foundation Sri Lanka Chairman Ambassador (retd.) Dr. Bernard Goonetilleke.

The forum’s purpose was to obtain expert commentary regarding the need for Sri Lanka to ‘up its game’ in the IOR.

Abe said that from the 1870s onwards, the Indian Ocean had become the global communications highway, with the British Empire laying submarine cables from Aden to Mumbai, linking Europe to South Asia.

‘Since then, with the passage of time, Ceylon, and later Sri Lanka, has seen the bulk of the global digital communications umbilical laid through its maritime domain of influence, with over a dozen such cables laid over the island’s Exclusive Economic Zone (EEZ) thus far, he said.

Prof. Kanehera added: ” With the rise of Artificial Intelligence (AI) and increasing digitisation, such submarine cables have become critical strategic infrastructure for the island nation as well as the region.

‘This timely conference came as world powers rushed to secure critical minerals needed to maintain a technology edge over rivals, both militarily and economically, disrupting the longstanding rules-based order, especially at sea and in trade.

‘The lack of cognition regarding how to understand and navigate the return to a near Cold War era strategic competition in the Indian Ocean, and increasingly in the sub-surface domain and the seabed, among Sri Lanka’s policy making community, bureaucrats and public leaves the economically weakened island nation more vulnerable to geopolitical coercion, shocks and tug-o-war, which will likely increase in the coming decade.’

By Hiran H Senewiratne

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Automobile Association of Ceylon donates towards Disaster Relief Support Fund

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Automobile Association of Ceylon (AAC) donated Rs. 25 Million towards the Disaster Relief Support Fund to assist the Ditwah Cyclone victims.

A donation was handed over to Dr. S N Kumanayake, Secretary to the President of Democratic Socialistic Republic of Sri Lanka by Dhammika Attygalle, President – AAC at the Presidential Secretariat on the 19th February 2026 in the presence of Executive Committee members.

Dhammika Attygalle President AAC (third from Left) handing over the cheque to Dr S N Kumanayake, Secretary to the President of Democratic Socialistic Republic of Sri Lanka.

In the picture L-R Lasitha Gunaratne- EXCO Member – AAC, Devapriya Hettiarachchi – Secretary -AAC, P H Liyanage, P B Kulatunga & Indunil Udaya – Members of the EXCO – AAC

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‘Sri Lanka’s first AI-powered digital trainer for Banca partners’

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A few highlights from the NAVI Launch event.

HNB Assurance PLC recently introduced NAVI, The Digital Trainer, a new AI-powered training companion designed to support its banca staff with instant, reliable access to knowledge, whenever they need it. The solution was unveiled at Partnership Life, the company’s annual forum dedicated to celebrating the performance of its Partnership Channel.

Built to make learning simpler and more accessible, NAVI is a voice-enabled AI chatbot that helps banca staff quickly find product information, policy details, and process-related guidance by drawing from a centralized knowledge bank. Whether on the go or at the point of customer interaction, NAVI ensures that answers are never out of reach.

Sharing his thoughts, Sanesh Fernando, Chief Business Officer / GM – Partnership Channel at HNB Assurance, opined, “With NAVI, our intention is to make learning a part of everyday conversations. By combining chat and voice capabilities, we are making it easier for our officers to learn on demand and perform with greater confidence.” He further noted that it is this continuous focus on meaningful innovation that has consistently set HNB Assurance apart within the bancassurance space. “Solutions like NAVI reflect the way we think and operate as a Partnership Channel. This commitment to enabling our partners and bancassurance officers through practical, forward-thinking initiatives has been a key driver in our journey, one that has seen us being recognized as the Best Life Bancassurance Provider for five consecutive years, while also delivering strong and sustained growth year after year.”

Commenting on the launch, Suneth Jayamanne, Chief Information Officer / GM of HNB Assurance, said, “We see NAVI as a support system rather than a piece of technology. Our Bancassurance officers operate in fast-paced environments and having instant access to the right information can make all the difference. NAVI is about helping our people feel more prepared, more confident, and more connected to the knowledge they need to serve customers better.”

The launch of NAVI was marked by an engaging reveal featuring an AI-generated avatar that introduced the digital trainer and its capabilities, symbolizing a shift towards a more intuitive and people-friendly approach to learning.

As HNB Assurance continues to expand its Partnership Channel, innovations such as NAVI highlights the company’s focus on building strong, well-supported partnerships, blending technology with a deep understanding of how people learn, and work.

HNB Assurance PLC (HNBA) is one of the fastest growing Insurance Companies in Sri Lanka with a network of 79 branches. HNBA is a Life Insurance company with a rating of ‘A’ (lka) by Fitch Ratings Lanka for ‘National Insurer Financial Strength Rating’. Following the introduction of the segregation rules by the Insurance Regulator, HNB General Insurance Limited (HNBGI) was created and commenced its operations in January 2015; HNBGI continues to specialize in motor, non-motor and Takaful insurance solutions and is a fully owned subsidiary of HNB Assurance PLC. HNB General Insurance has been assigned a ‘National Insurer Financial Strength Rating’ of ‘A’ (lka) by Fitch Ratings Lanka Limited. HNBA is rated within the Top 100 brands and Top 100 companies in Sri Lanka by LMD and HNB Assurance has won international awards for Brand Excellence, Digital Marketing and HR Excellence including the Great Place To Work® Certification, and won many awards for its Annual Reports at award ceremonies organized by the Institute of Chartered Accountants of Sri Lanka.

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