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Russian-Ukrainian crisis likely to affect multiple sectors in Sri Lanka



By Hiran H.Senewiratne

The effect on the CSE from the Russia-Ukraine crisis still cannot be commented on. But the CSE performed well yesterday to a satisfactory level even with the current external and internal uncertainties, CSE’s Head of Marketing Niroshan Wijesundera said.

“Since Ukrainian and Russian delegations will likely meet on the border between Ukraine and Belarus for peace talks, it will create some hope on this situation. If not it will affect many sectors, such as tourism, oil and gas, plantation sectors, such as tea and many more sectors, Wijesundera told the Island Financial Review.

He said that yesterday CSE produced a strong rebound with indices gaining but the bourse could be negatively impacted it if the tense situation continues. It is said that the US $ one billion Indian loan for Sri Lanka created a positive sentiment in spite of insufficient efforts to revive the situation.

Amid those developments, the CSE market started its trading on a positive note but did not continue that momentum. However, in the latter part of the day huge buying interest was noted in Expolanka Holdings, which automatically turned the market towards positive territory. As a result, indices at the CSE recorded significant gains yesterday with the All -Share Price Index increasing by 470.04 points (4.23 per cent) to 11577.94, while the S and P SL20 increased by 204.40 points (5.46 per cent) to 3946.73. Turnover stood at Rs 4.3 billion sans a single crossing.

In the retail market, the top seven companies that mainly contributed to the turnover were, Expolanka Holdings Rs one billion (3.7 million shares traded), Browns Investments Rs 330 million (27.5 million shares traded), LOLC Finance Rs 281 million (2.2 million shares traded), Commercial Leasing and Finance Rs 262 million (5.5 million shares traded), LOLC Finance Rs 213 million (225,000 shares traded), Royal Ceramic Rs 211 million (3.6 million shares traded) and Softlogic Life Insurance Rs 147 million (1.4 million shares traded). During the day 212 million share volumes changed hands in 41000 transactions.

It is said High net worth and institutional investor participation was noted in Commercial Bank, Access Engineering and Sampath Bank. Mixed interest was observed in Expolanka Holdings, Commercial Leasing & Finance and LOLC Holdings, while retail interest was noted in Browns Investments, LOLC Finance and SMB Leasing. During the day Expolanka, which experienced heavy buying interest, contributed 67 points to the All- Share Price Index, while LOLC Finance contributed 54 points.

Yesterday, the US dollar was quoted at Rs 201.05, which was the controlled price of the Central Bank. The actual rate in the floating market would be more than Rs 250 per dollar. However, Sri Lanka’s rupee has sharply appreciated to Rs 2.36 to the Russian ruble from Rs 2.66 earlier in the week.

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Exterminators PLC certified as great place to work



Travis Ferreira, Executive Director, ‘Extermina tors PLC’, receiving the certificate from the GPTW team

Exterminators PLC announces that it has been certified as a Great Place to Work for the second year in a row. This achievement reaffirms our commitment to creating an environment that fosters learning, development, and success for our staff members. The certification was awarded after an independent audit and certification process conducted by the renowned organisation Great Place to Work (GPTW), which evaluated our company across various focus areas. Exterminators PLC excelled in the Trust Index, scoring high points in all focus areas during the certification process.

“The challenges we faced over the past twelve months were unprecedented. We are proud of our coworkers, who kept our business operating without interruption by working collaboratively and courageously and leaning on our collective creativity, innovation, and passion. Our slogan was ‘How can we’ keep the promise we made? and we constantly innovated to get the job done, no matter how difficult it was.

We are grateful to our coworkers who collaborated with us during these most challenging times and for their pure commitment and loyalty towards Exterminators PLC, which kept us moving forward despite unprecedented obstacles.” Marlon Ferreira the Managing Director said.

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SLT-MOBITEL mTunes introduces ‘Be a Millionaire’ promo



Bringing elevated lifestyle experiences, SLT-MOBITEL is offering users the ultimate chance to turn music into wealth with its new ‘Be a Millionaire’ promo on mTunes.mTunes is a digital lifestyle service that allows customers to personalise their Caller Ring Back Tone (CRBT) with their favourite songs or audio content. It adds a unique and personalised touch to phone calls, allowing customers to express their originality and preferences with their loved ones.

With a vast collection of songs on the mTunes platform, the ‘Be a Millionaire’ promo offers users the opportunity to connect with their hearts’ content and win big cash prizes. From September 1st to November 30th, 2023, the ‘Be a Millionaire’ promo on mTunes promises incredible prizes for lucky participants. The grand prize is an amazing Rupees One million (Rs. 1,000,000) with additional rewards of Rs. 100,000 for the second winner and Rs. 50,000 for the third place. But the path to wealth does not end; seven more lucky winners will receive Rs. 10,000 each, and every week, there will be twelve lucky winners of Rs. 10,000 each in cash prizes.

Participating in the promotion is easy. Existing and new CRBT users have the chance to win these fantastic prizes, including becoming millionaires, by simply activating more mTunes during the promotional period. With multiple cash prizes available, there are numerous opportunities to win every week. The ‘Be a Millionaire’ promotion is a golden opportunity to make dreams come true.

Users can increase their chances of winning by simply activating more mTunes daily. Users can also experience the fun, excitement, and entertainment offered by mTunes and enjoy the world of music.

For more information, contact mTunes at 777 or visit

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Lanka can build strong tourism ‘eco-brand’: UN official



United Nations Resident Representative to Sri Lanka, Azusa Kobota


ECONOMYNEXT –Sri Lanka can build an ‘eco-brand’ catering especially to younger tourists who feel strongly about the environment, United Nations Resident Representative to Sri Lanka, Azusa Kobota said.

About 70 percent of global travellers prioritise sustainability in their holiday choices, marking a ten percent increase from 2021, while around 30 percent of travellers feel guilty about flying, due to carbon emissions, she said.

“As the world embraces green thinking during this time of economic recovery efforts, the objective of the tourism sector cannot simply be about increasing the number of inbound tourists,” Kobota said at an event marking World Tourism Day in Colombo.

“It has to be about enhancing their experience through green lenses, by implementing a responsible, eco-conscious paradigm for the sector and building a stronger eco-brand around the sustainable agenda for Sri Lanka,”

“This is no longer about reducing the trade offs between growing the industry and protecting the environment.

“We must see nature as our asset and solutions to be obtained for the exponential growth for our future generations.”

The sustainable tourism market is estimated to have earned 195 billion US dollars in 2022, and is expected to reach about 656 billion US dollars in 2032, she said.

“Tourists, particularly the younger generations from gen X,Y,Z are deeply, deeply conscious about the long term choices of their actions, and the adverse impact of tourists on the environment.

“Statistics show that a significant proportion of global travellers, about 30 percent, feel guilty about flying due to the environmental impact and 22 percent say they actively prefer public transport and bicycle rental options, over renting a car.”

Sri Lanka welcomed one million tourists by September 26 and is expecting more that 1.5 million tourists by the end of the year.

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