CBSL absorbs $ 1.24 b from domestic market YTD Aug.

The Central Bank of Sri Lanka (CBSL) remained a net purchaser of foreign exchange from the domestic forex market during the first eight months of 2025, continuing the positive trend seen in 2023 and 2024, according to the Financial Stability Review 2025 released last week.

From January to August 2025, the CBSL absorbed $ 1.3 billion from the domestic forex market and injected $ 63.3 million, resulting in a net absorption of $ 1.24 billion. This compares with $ 2 billion recorded during the corresponding period in 2024.

Gross Official Reserves stood at $ 6,164.2 million at the end of August 2025, slightly above the $ 6,122.0 million reported at the end of 2024.

The report noted that this accumulation occurred despite rising import demand and ongoing external debt servicing by the Government and the CBSL.

‘To sustain this positive trend amidst increasing import demand, scheduled repayment of external Government debt, and the CBSL’s foreign currency obligations, consistent foreign currency inflows will be essential,’ the report stated.

The review said liquidity conditions in the domestic forex market improved, reflected by a narrowing bid-ask spread for the USD/LKR rate.

This downward momentum continued from 2024, indicating reduced volatility and lower transaction costs. A temporary widening of the spread in April 2025 was attributed to market uncertainty following the announcement of reciprocal tariffs on Sri Lankan imports by the US and seasonal import-related pressures during the festival period.

The CBSL noted that maintaining improved liquidity through stronger export earnings, tourism receipts, and workers’ remittances will be critical for sustaining confidence and attracting foreign investment.

Interbank foreign exchange transaction volumes also strengthened during the review period. In January 2025, the market recorded the highest monthly volume since October 2020, reaching $ 1,668 million, and later increased to $ 1,722.9 million in August 2025. The surge early in the year was likely due to the anticipated resumption of vehicle imports and hedging activities amid expectations of increased demand for foreign exchange, the CBSL said.

Forward transactions rose 22% compared to the same period in 2024, reaching $ 622 million in August, or 36.1% of total transactions for the month.

Spot transactions increased by 19%, TOM transactions by 39%, and cash transactions by 85%, reflecting stronger liquidity needs at various points during the year.

The one-month forward premium continued its declining trend from 2024, indicating stable expectations in the forex market.

Govt. allows rice imports amid local Keeri Samba shortage

The Cabinet of Ministers on Monday approved a proposal to permit rice importers to bring in up to 520 metric tons of Ponni Samba rice per importer, without permits, to address the current shortage of Keeri Samba in the local market.

Cabinet Spokesman and Minister Dr. Nalinda Jayatissa said the decision follows concerns that Keeri Samba is being sold above the Government’s control price due to limited availability.

According to the Department of Census and Statistics’ Household Income and Expenditure Survey, Sri Lanka’s annual rice consumption is estimated at 2.46 million metric tons, of which about 10% or 246,000 metric tons is Keeri Samba.

The imports will be allowed from 15 October to 15 November subject to the maximum limit of 520 metric tons per importer and exemption from the usual permit requirement, Dr. Jayatissa said.

Over 3,000 Lankans leave for S. Korea jobs by Oct.

The Sri Lanka Bureau of Foreign Employment (SLBFE) has announced that over 3,000 Sri Lankans will depart for jobs in South Korea by the end of October this year.

A group of 36 Sri Lankans, including 33 men and three females were scheduled to leave for South Korea yesterday (14 October) on SriLankan Airlines flight UL 470 to take up employment in the manufacturing sector.

According to the SLBFE, a total of 2,927 Sri Lankans have already left for jobs in South Korea in 2025, including 100 women. Of this number, 2,197 have joined the manufacturing sector, 680 have found employment in the fisheries sector, 25 in construction, 23 in the service sector, and two in the agricultural sector.

The Bureau further stated that nearly 200 more Sri Lankans who have been offered job opportunities in South Korea are scheduled to depart by the end of this month.

Meanwhile, 36,745 candidates have registered for the 2025 Korean Language Proficiency Test (KLPT), which will commence on 23 October. The test is a prerequisite for securing employment under South Korea’s Employment Permit System (EPS).

Secondary Bond market yields remain in consolidation phase

The secondary Bond market yesterday witnessed healthy overall activity, despite being characterised by prolonged periods of inactivity interspersed with sporadic bursts of trading.

This marked a stark departure from the virtual standstill seen the day before. Transaction volumes were at robust levels, with sizeable block trades executed during the active periods.

Yields held broadly steady across most of the curve as the market continued to consolidate, keeping rates anchored around prevailing levels. The exception was the 2028 tenors, which saw yields creep upwards.

In terms of the secondary Bond market trade summary, 01.08.26 maturity was seen trading at the rate of 8.35%-8.30%. The 15.02.28, 01.05.28 and 01.07.28 maturities were seen trading at the rates of 9.10%, 9.20% and 9.25% respectively.

The 15.10.28 and 15.12.28 maturities were both seen trading at the rate of 9.30%. The 15.06.29, 15.10.29 and 15.12.29 maturities were seen trading at the rates of 9.65%, 9.70%-9.68% and 9.70% respectively. The 01.07.30 maturity was seen trading down the range of 9.80% to 9.78%.

The 01.06.33 and the 01.11.33 maturity were seen trading at the rates of 10.70% and 10.72% respectively.

In Secondary market Bills, trades were observed on March

2026 maturities at the rates of 8.00%-7.95%.

Meanwhile, the Treasury Bills auction scheduled to be conducted today will have a total offered amount of Rs. 77.5 billion, an increase of Rs. 44 billion over the previous week. The auction will consist of Rs. 15 billion on the 91-day, Rs. 35 billion on the 182-day and Rs. 27.50 billion on the 364-day maturities.

For context, at the previous weekly Treasury Bill auction (08th October), the weighted average rates held largely steady, with the exception of the 91-day maturity which registered a further drop of 01-basis point.

The 182-day and 364-day tenors remained unchanged at 7.89% and 8.02% respectively.

This marks the 12th week where T-Bill rates have stayed broadly anchored around prevailing levels. Nevertheless, the auction went undersubscribed. Only 57.10% or Rs 19.13 billion out of the Rs 33.50 billion targeted offered amount was raised. This was despite the bids received to offered amount ratio standing at 1.59 times

The total secondary market Treasury Bond/Bill transacted volume for 13 October was Rs. 37 billion.

In money markets, the net liquidity surplus was recorded at Rs. 171.02 billion yesterday. An amount of Rs. 179.46 billion was deposited at Central Banks SDFR (Standing Deposit Facility Rate) of 7.25%, while an amount of Rs. 8.44 billion was withdrawn from the Central Banks SLFR (Standard Lending Facility Rate) of 7.25%.

The weighted average rates on Call money and Repo were registered at 7.87% and 7.89% respectively.

Forex Market

In the Forex market, the USD/LKR rate on spot contracts closed the day depreciating to Rs. 302.80/302.90 as against Rs. 302.59/302.62 the previous day.

The total USD/LKR traded volume for 13th October was US $ 67.31 million.

Rs. 1.45 b project to upgrade Kolonnawa fuel filling facilities

Cabinet Spokesman and Minister Dr. Nalinda Jayatissa yesterday said the Cabinet has approved a proposal by the Power and Energy Minister to begin procurement for a Rs. 1.45 billion project to modernise fuel filling facilities at Zone 7 of the Kolonnawa Terminal operated by Ceylon Petroleum Storage Terminals Ltd., (CPSTL).

The project, approved by the CPSTL Board of Directors and endorsed by the Department of National Planning, will be implemented in three stages under an engineering, procurement, and construction contract.

The first phase will cover the construction of new filling facilities for petrol at the Zone 7 site, forming part of a broader plan to introduce state-of-the-art systems for petrol, diesel, and kerosene handling.

The Government said the project is intended to enhance fuel distribution efficiency, safety, and capacity at one of Sri Lanka’s key petroleum storage terminals.

Govt. to draft new amendments to Port City law

Cabinet Spokesman and Minister Dr. Nalinda Jayatissa yesterday said the Cabinet has approved a proposal by President Anura Kumara Disanayake to instruct the Legal Draftsman to prepare amendments to the Colombo Port City Economic Commission Act, No. 11 of 2021.

He said the revisions are aimed at addressing regulatory gaps and investor concerns following the repeal of Port City’s strategic business regulations on 4 August. Those regulations had previously granted key incentives and exemptions to investors.

Colombo Port City, established as a special economic region under the 2021 Act, is intended to position Sri Lanka as a competitive international business hub. The Colombo Port City Economic Commission has identified additional legal changes required to strengthen the region’s competitiveness, attract foreign direct investment, and improve Sri Lanka’s global ease-of-doing-business rankings.

The proposed amendments follow an earlier Cabinet decision in July 2024 to update the existing law. The new measures are expected to provide direct solutions to issues faced by investors and restore confidence by clarifying the incentive framework within Port City’s regulatory environment.

Sri Lanka Surgeons Congress 2025: Triumph of surgical excellence and innovation

The Sri Lanka College of Surgeons hosted the Sri Lanka Surgeons Congress 2025 (SLSC 2025) from 11 to 13 September at the Cinnamon Grand Colombo, drawing more than 400 distinguished surgeons, consultants, and medical professionals from across Sri Lanka and the region.

Setting the tone for this prestigious gathering, a grand inauguration ceremony was held on 10 September, attended by officials of the College, senior Health Ministry representatives, and eminent surgeons from around the country. The ceremony was followed by a gala dinner, celebrating the unity and excellence of the surgical community.

The three-day Congress provided a dynamic forum for in-depth knowledge exchange, hands-on learning, and discourse on modern surgical practice. Prominent speakers, panellists, and participants contributed to high-level discussions on current trends, research, and innovations in surgery, solidifying the event as a benchmark for medical advancement in Sri Lanka.

A key highlight of the Congress was the strategic partnership with Premium International Ltd., Sri Lanka’s most celebrated turnkey Health Care Technology and infrastructure solution provider, whose presence significantly elevated the event’s profile. As the official Strategic Partner, Premium International showcased three globally acclaimed brands – Erbe, Shiva, and Fujifilm-each representing cutting-edge of surgical technology and innovation.

Through expertly curated exhibits and live demonstrations, Premium International introduced delegates to state-of-the-art surgical equipment, advanced endoscopic imaging systems, and energy-based surgical solutions, reinforcing the importance of modern tools in enhancing clinical outcomes. Each brand was represented by its own experienced clinical ambassadors from their respective entities, who provided expert insights and engaged with delegates on the application of these technologies in real-world surgical settings.

Erbe, a global leader in electrosurgery, was represented by its regional ambassador, who demonstrated the latest in energy platform integration.

Shinva, Chinas first and oldest technology and device manufacturer known for reliability and precision surgical tools, showcased innovations in OR technology

Fujifilm, a global leader in endoscopic solutions, captivated attendees with high-definition 4k Video Endoscopy technology and diagnostic capabilities.

Premium International’s presence at the event was a powerful demonstration of the seamless integration between clinical excellence and cutting-edge technology. It also underscored the company’s ongoing commitment to advancing surgical infrastructure and supporting the modernisation of hospitals across Sri Lanka.

The Congress was widely lauded as an overwhelming success, bringing together academic excellence, industry leadership, and medical policy influence under one roof. It not only strengthened professional ties within the surgical community but also ushered in a new era of surgical technology integration in Sri Lanka’s healthcare system.

With powerful collaborations, future-focused discussions, and the integration of world-class surgical technologies, Sri Lanka Surgeons Congress 2025 has set a new standard-reaffirming Sri Lanka’s position as a rising hub of surgical excellence in South Asia.

Power of a wish: Make-A-Wish Sri Lanka transforming lives

A seven-year-old boy dreams of being a police officer. He puts on the uniform, sits in a patrol car, and for a brief moment, steps into a world where illness does not define him. Four months later, he passes away-but not before experiencing a joy that will linger in his family’s heart forever.

This is the power of a wish, a global initiative that has, for over four decades, shown the transformative power of granting wishes to children facing critical illnesses.

In Sri Lanka, Make-A-Wish was launched on 29 April 2025 coinciding with World Wish Day and marking the 45th anniversary of Make-A-Wish Foundation International. Under the stewardship of the Indira Cancer Trust, whose mission, is to go beyond clinical care and focus on holistic healing – physical, emotional and spiritual, Make-A-Wish Sri Lanka aligns perfectly with that philosophy. It’s about nurturing resilience, restoring joy and creating memories that lasts long after treatment ends.

Each child’s wish is captured thoughtfully: favourite colours, food, and dreams are explored. The team ensures every wish day is safe, joyful, and memorable, working closely with the healthcare consultants-Dr. Sanjeewa Gunasekera, Dr. Prabhani Madummarachchi, Dr. Jaliya Jayasuriya, and Dr. Mahendra Somathilake from the Apeksha Hospital-who guide the process, ensuring each experience aligns with the child’s medical needs.

Over the first four months, Make-A-Wish Sri Lanka has already granted 50 wishes, primarily at the Suwa Arana Paediatric Palliative Care Center, the only paediatric palliative care centre in the country that opened its doors in 2023.

Joanne Joseph sat down with Wish Granting Head Sonali Perera, to understand the passion and vision behind this life-changing initiative.

Q: Sonali, what does Make-A-Wish Sri Lanka mean for the children you work with?

A: Make-A-Wish is about giving children a chance to step outside their illness. For a few hours or even a day, they can be who they want to be-a lawyer, a pilot, or even meet their favourite celebrity. One little girl, confined to a wheelchair, wished to be a lawyer. She couldn’t travel, but we brought the courtroom to her. Four lawyers arrived with a badge, a mug, and a T-shirt reading ‘Little Miss Lawyer.’ Her joy was palpable-she beamed with confidence, laughter, and pride. Moments like these remind us that hope is as vital as medicine.

Q: The initiative has been running for just four months, yet 50 wishes have already been granted. How did this happen?

A: It’s the passion of our team and the generosity of our supporters. We started at Suwa Arana, where children need both medical care and emotional support. From there, we expanded to Apeksha Hospital, and our next goal is Lady Ridgeway Hospital, with the aim to reach children islandwide.

Each wish is carefully planned. We ask children for three wishes, explore their favourite colours, foods, and hobbies, and create experiences tailored to their dreams. Every detail-from transportation, meals, insurance and decorations-is designed to bring delight and safety. After the wish is designed a wish box filled with 13 age/gender appropriate gifts is given to the child as our promise that his/her wish will be granted creating anticipation till wish day.

Q: Who makes these wishes possible behind the scenes?

A: The team is the heart of the initiative. Yasmina Weerabangsa, our Wish Capture Specialist, listens deeply to each child’s story. Hiruni Perera, our Wish Design Specialist, turns those dreams into joyful experiences. I coordinate as Head of Wish Granting. The staff at Indira Cancer Trust, Volunteers, donors, and the medical consultants all play critical roles. Each person brings passion and care, and together we ensure every wish is a moment that will remain as a memory with the child.

Q: Can you share more stories of wishes that touched your heart?

A: Absolutely. There is a 13-year-old who wished to meet his favourite singer. We arranged a surprise visit to his room. When his hero entered, the child’s eyes sparkled with awe, laughter spilling freely for the first time in months.

Another little boy dreamed of visiting the Lotus Tower on his birthday. Surrounded with family he cut a cake at the Orbit restaurant. Even being confined to a wheel chair he was able to watch in wonder the beautiful pixel room and admire the city from the 29th floor of the Lotus Tower.

Then there’s the young boy who wished to see planes take off. He was welcomed like VIP at the Bandaranaike International Airport, taken around and provided with a sumptuous meal. Each staff member of the airport stepped out to greet him by name and the highlight of his visit was being able to board the Etihad flight that had landed and being able to sit in the pilot’s seat.

These moments are the reason we do this-the thought that hope could become as important as the medicine truly touches our hearts. They show that even in the toughest battles, joy, freedom, and wonder are still possible.

Q: How important is community and donor support in making these experiences happen?

A: Every donation counts. Cash contributions fund the logistics of a wish-transportation, meals, insurance-while in-kind support, like hotel stays or restaurants providing meals, brings the experience to life. Seylan Bank PLC who is our official banking partner and other corporate partners have been instrumental in this process.

But beyond money, it’s the human contribution-doctors guiding us medically, and community members offering experiences-that truly transforms a child’s dream into reality. Each wish is a collective effort, and the ripple effect touches families, staff, and every child involved.

Q: How does Suwa Arana fit into this vision?

A: Suwa Arana opened its doors in 2023 to provide a holistic family care concept. Make-A-Wish Sri Lanka enhances that work, adding moments of celebration, freedom, and possibility. Together, we support not just the body but the soul-ensuring children and their families experience hope, happiness, and togetherness, even amid illness.

Q: How can people get involved and help?

A: Donations, offering services, or simply spreading awareness all help. Each contribution-big or small-helps grant a child’s greatest wish. Those who want to get involved can contact us directly or visit the website www.makeawishsrilanka.org. Helpline: 011 2363211. Every act of kindness brings joy to a child’s life.

Q: Why is Make-A-Wish Sri Lanka so critical today?

A: Because hope heals. In the middle of treatments, tests, and uncertainty, children need to feel joy, be celebrated, and experience freedom. Make-A-Wish gives them that chance. Every wish fulfilled is a story of compassion, teamwork, and selflessness-and an invitation for the rest of us to participate in giving hope, healing, and happiness.

Q: What would be your message to the public?

A: Every wish matter, and you can be a part of making it come true. Together we can give children suffering from a critical illness the gift of joy, hope and strength and bring to life the power of a wish. No contribution is too small – every act of kindness helps transform a child’s life.

Migrant remittances rise to $ 695.7 m in Sept.

The Sri Lanka Bureau of Foreign Employment (SLBFE) has announced that Sri Lanka’s foreign employment sector has recorded a significant increase with migrant remittances reaching $ 695.7 million in September 2025.

Citing statistics from the Central Bank of Sri Lanka, the SLBFE states that it is a year-on-year increase of $ 140.1 million, compared to $ 555.6 million recorded in September 2024.

During the first nine months of 2025, the country received a total of $ 5,811.2 million in remittances, reflecting a 16.65% growth from $ 4,843.9 million during the same period last year.

The SLBFE noted that foreign employment continues to serve as a key pillar of Sri Lanka’s economy, making a direct contribution to strengthening national foreign reserves. The Government, in collaboration with the SLBFE and other stakeholders, has taken significant steps at the diplomatic level to promote new overseas employment opportunities through a fair and efficient system.

A streamlined recruitment process has been introduced for job placements in Israel, Japan, and South Korea, while strict mechanisms are in place to curb fraudulent recruitment practices and safeguard the welfare of Sri Lankan migrant workers.

As the SLBFE celebrates its 40th anniversary this year, it continues to support the country’s economic stability and the welfare of the Sri Lankan expatriate community, working closely with licensed foreign employment agencies and international partners.

The Bureau expects migrant remittances to surpass $ 7 billion by the end of 2025, with an estimated 300,000 Sri Lankans projected to take up foreign employment this year.

Hemas Pharmaceuticals partners Oproma Cosmetics to launch ‘Hair Buddy’

Hemas Pharmaceuticals Ltd., a subsidiary under Hemas Holdings PLC, recently announced the arrival of its latest hair care product with the launch of Hair Buddy. Developed in partnership with Oproma Cosmetics Ltd., as a botanical fusion hair masque, Hair Buddy marks a milestone for Hemas Pharmaceuticals as its first-ever direct-to-consumer, digital-first launch.

NMRA approved and dermatologically tested, and 100% BPA free, Hair Buddy works rapidly to deliver visible growth. Designed to be a ‘forever friend’, Hair Buddy works to prevent hair loss, reduce dandruff, and strengthen hair from root to tip. Hair Buddy is uniquely positioned to build long-term scalp health through deep nourishment. Recommended for ages 16 and above, Hair Buddy’s ‘forever friend’ factor stems from its status as a safe, inclusive, and effective hair growth partner developed from time-tested Sri Lankan traditions based on plant powered formulas.

Hair Buddy’s launch aligns with Hemas Pharmaceutical’s priority pillars by driving growth through entry into the fast-expanding hair care market. The launch of Hair Buddy represents both Hemas Pharmaceuticals’ diversification into personal care and cements its digital transformation agenda with a dedicated e-commerce platform offering convenient island-wide delivery.

Central to this latest milestone is Hemas Pharmaceuticals’ long-standing distribution partner for over two decades, Chandrasiri and Sons, who will serve as the exclusive distributor for Hair Buddy. With several years of partnership behind them, the collaboration underscores Hemas Pharmaceuticals’ commitment to building on trusted relationships as it explores new markets and consumer segments.

Hemas Pharmaceuticals Managing Director Dr. Mahesha Ranasoma said, ‘As we continue to expand into new markets and healthcare categories, we’re not only pleased to renew and reaffirm longstanding and trusted partnerships, but we’re also eager to bring our customers a product that’s rooted in responsibility and free from harsh chemicals. Furthermore, Hair Buddy reflects Hemas Pharmaceutical’s focus on innovation, purpose, and ethically sustainable responsibility. Through Hair Buddy, Hemas Pharmaceuticals takes a meaningful step beyond healthcare into the realm of personal well-being.’

Oproma Cosmetics Managing Director Pradeep Mapalagama added, ‘With Hair Buddy, we aim to introduce customers to a holistic and carefully curated product that will ensure long-term hair care and profound customer satisfaction. Partnering with Hemas Pharmaceuticals ensures we not only bring this vision to life, but that it upholds and aligns with the same values of responsibility and innovation that we both share.’