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.”

By Ifham Nizam

Sri Lanka has cut policy interest rates by 25 basis points due to lower than projected inflation and expected lower external demand stemming from geopolitical uncertainties, Central Bank Governor Dr. Nandalal Weerasinghe said.

“The Central Bank has lowered its lending window rate to 8.25 percent and the enforceable deposit facility to 7.25 percent, Dr Weerasinghe told the Central Bank monthly policy review meeting held at Central Bank head office in Colombo last Thursday.

Dr. Weerasinghe added: “Inflation is moving at a lower path than we projected in the last review.0”

“The projection is moving below the lower path but reaching towards the target range of 5 percent.

“With regard to aggregate demand, it could be said that because of global uncertainties stemming from geopolitical issues, the IMF has revised its global economic outlook.

“This means that from the overall aggregate demand point of view the external component will be lower than what we expected last time.

“The US has slapped a 44 percent tax on Sri Lanka’s exports to the country, though only 10 percent is applied for three months, as discussions continue.

“The monetary policy decision has been made expecting the ‘status quo’ to continue.

“Some space been created to ease the monetary policy this time.

“In two months’ time we will review it again and see whether our projections are in order and whether there is some more space.

“There is concern that the latest rate is similar to the rate cuts in April 2015 and April 2018, which were made as credit recovered, precipitating a fresh currency crisis.

“In both instances however, the Central Bank was already printing money and releasing liquidity as private credit picked up from the previous external crisis triggered by rate cuts.

“The Central Bank was releasing liquidity by terminating dollar rupee swaps from the last quarter of 2014 when the rate cuts for the 2015/16 crisis were made.

“In 2018, money was printed mostly through rupee open market operations to enforce the April rate cut.

“Unlike in 2015, 2018 and 2020 the Central Bank does not have to immediately print money to enforce the rate cut as the signaled mid-corridor rate was above the floor rate despite externally generated liquidity.”

By Hiran H Senewiratne

The CSE was bullish and reflected an upward trend despite some mild volatility yesterday. The low interest regime and satisfactory quarterly results moved the market to green territory, market analysts said.

Amid those developments both indices moved upwards. The All Share Price Index up by 31.49 points while S and P SL20 rose by 0.44 points. Turnover stood at Rs 3.7 billion with eleven crossings.

Those crossings were reported in Sunshine Holdings; 11 million shares crossed to the tune of Rs 261 million and its shares traded at Rs 24, Union Bank 12 million shares crossed to the tune of Rs 129 million; its shares traded at Rs 10.80, Digital Mobility Solution 1 million shares for Rs 72 million; its shares traded at Rs 72, JKH 2.5 million shares crossed for Rs 53 million and its shares traded at Rs 21.20.

Lanka IOC 400,000 shares crossed to the tune of Rs 52 million; its shares traded at Rs 130, Hemas Holdings 2 million shares crossed for Rs 51 million; its shares traded at Rs 25.50, Keells Holdings 2 million shares crossed for Rs 41 million; its shares sold at Rs 20.50, DFCC Bank 332,000 shares crossed to the tune of Rs 34.1 million; its shares traded at Rs 103, ACL Cables 200,000 shares crossed for Rs 26.4 million; its shares traded at Rs 132, Agarapathana Plantations one million shares crossed to the tune of Rs 22.8 million; its shares traded at Rs 22.80 and Dialog 1.25 million shares crossed for Rs 20.6 million and its shares sold at Rs 16.50.

In the retail market top six companies that mainly contributed to the turnover were; Hemas Rs 165 million (6.4 million shares traded), Sunshine Holdings Rs 164 million (6.8 million shares traded), Dialog Rs 157 million (9.5 million shares traded), RIL Properties Rs 124 million (6.6 million shares traded), Melstacope Rs 124 million (858,000 shares traded) and Browns Investments Rs 120 million (15.3 million shares traded). During the day 182 million share volumes changed hands in 24000 transactions.

It is said that manufacturing and plantation sector counters led the market, especially Sunshine Holdings and JKH, while banking and finance sector also played a significant role, especially Union Bank.

Yesterday, the rupee opened at Rs 299.10/25 to the US dollar in the spot market, stronger against the previous day close of Rs 299.35/45, dealers said, while bond yields were down sharply.

A bond maturing on 15.10.2028 was quoted at 9.65/70 percent. A bond maturing on 15.06.2029 was quoted at 9.90/98 percent, down from 10.07/11 percent. A bond maturing on 15.09.2029 was quoted at 9.98/10.02 percent. A bond maturing on 15.03.2031 was quoted at 10.45/52 percent, from 10.57/63 percent.

By Hiran H.Senewiratne