Asianet Pakistan Private Limited

Police have arrested the owner of a fishing boat in connection with the recent seizure of more than 700 kilograms of heroin and crystal methamphetamine (ICE) in Seenimodara, Tangalle.

The Police Narcotics Bureau (PNB) said the drugs, discovered in three lorries in the area, had been smuggled into the country by sea. Investigations revealed that the narcotics were brought in aboard a toll boat before being transferred to a smaller fishing vessel for transport.

The arrest was made during a raid linked to the wider probe into the drug trafficking operation.

Authorities confirmed that further investigations are underway into the network responsible for the smuggling.

Colombo stock market continued its rally closing yesterday in green for the 13th consecutive session with ASPI within touching distance of the 22,000 points barrier.

The ASPI closed 0.46% up gaining 100.49 points to 21,951.79. The active S and P SL20 ended 0.15% up, gaining 9.42 points to 6,148.21. Turnover was Rs. 6.5 billion on more than 192 million shares traded. Foreigners were net buyers with a net inflow of Rs. 46.4 million, down from Rs. 90.7 million the previous day.

First Capital Research said that backed by the strong kick start for the month from previous day, Colombo Stock Exchange continued its positive momentum and ended up on the green territory.

ASPI was up by 100 points and ended the day at 21,952, marking the 13th consecutive day of gains. Although the retail participation was moderate, HNW participation was high, with more positivity observed largely towards Banking sector and the blue-chip companies.

Additionally, there was positive investor participation towards the Construction sector counters. This could have possibly been driven by the rise of PMI index to 61.1 in August, from 60.0 in July.

MELS, AEL, UBC, RCL and NDB were the top positive contributors to the index. Turnover for the day stood at Rs. 6.5 billion, reflecting a decrease of 8% compared to the monthly average that stands at around Rs. 7.1 billion.

Banking sector took the lead in terms of sector wise contributions to turnover, with a share of 24%, followed by the Capital Goods sector and Food, Beverage and Tobacco sector which produced a combined contribution of 36%. Foreign investors remained net buyers, recording a net inflow of Rs. 46.4 million.

NDB Securities said The ASPI closed in green as a result of price gains in counters such as Melstacorp, Access Engineering and Union Bank with the turnover crossing Rs. 6.5 billion. A similar behaviour was witnessed in the S and P SL20.

Crossings were witnessed in Commercial Bank, Melstacorp, and DFCC Bank, accounting for 43.6% of the turnover. Mixed interest was observed in Access Engineering, Lanka Aluminium Industries and Sierra Cables whilst retail interest was noted in LVL Energy Fund, Cable Solutions and UB Finance Company.

Foreign participation in the market activity remained at subdued levels with foreigners closing as net buyers.

The Banking sector was the top contributor to the market turnover (due to Commercial Bank) whilst the sector index gained 0.25%. The share price of Commercial Bank decreased by Rs. 0.50 (0.26%) to close at Rs. 193.25.

Capital Goods sector was the second-highest contributor to the market turnover (due to Access Engineering) whilst the sector index increased by 0.37%. The share price of Access Engineering moved up by Rs. 3.60 (5.82%) to close at Rs. 65.50.

Melstacorp, Lanka Milk Foods and Lanka Aluminium Industries were also included amongst the top turnover contributors. The share price of Melstacorp gained Rs. 6.75 (3.89%) to close at Rs. 180.25. The share price of Lanka Milk Foods recorded a gain of Rs. 1.50 (2.27%) to close at Rs. 67.60. The share price of Lanka Aluminium Industries appreciated by Rs. 4.20 (8.30%) to close at Rs 54.80.

The Commission to Investigate Allegations of Bribery or Corruption (CIABOC) yesterday expressed deep concern over what it described as baseless and misleading statements made by certain individuals and organisations, warning that legal action would be taken against attempts to discredit its work.

Speaking at a media briefing, CIABOC Director-General Ranga Dissanayake said the Commission has observed that some parties, acting with hidden agendas, are spreading false narratives through electronic, print and social media.

‘Such actions damage the reputation of the Commission, divert public attention away from ongoing major investigations, and create a distorted perception regarding the lawful and independent operations of the Commission,’ he noted.

Dissanayake emphasised that CIABOC has undergone significant reform and now enjoys growing public trust. He disclosed that in the first eight months of this year alone, 4,626 complaints related to bribery and corruption were lodged.

Under the Anti-Corruption Act No. 9 of 2023, CIABOC is empowered to act independently, fearlessly, and without bias. While reiterating that freedom of expression is a fundamental right, the Director-General stressed that this right ‘cannot be misused to spread false claims that hinder justice or undermine public confidence in the fight against corruption.’

He said it will not hesitate to pursue legal action against individuals or organisations that attempt to spread misinformation, insult, or discredit its operations.

Reaffirming its commitment to impartial investigations, the Director-General urged the public to remain vigilant against deliberate efforts to mislead them.

Dissanayake also advised critics to raise grievances through the Judicial Service Commission rather than holding media briefings to air unfounded accusations.

In an exclusive pre-publication release to the Daily FT, the publisher of leading business magazine LMD, Media Services, unveiled the top 20 line-up in the forthcoming LMD 100 annual edition.

Hayleys takes the top spot in the 32nd edition of Sri Lanka’s pioneering listed company rankings for financial year 2024/25. With a consolidated revenue exceeding Rs. 492 billion, the leading conglomerate secures top spot in Sri Lanka’s version of the Fortune 500 for the second consecutive year – it also helmed the rankings back in 2020/21.

Occupying second place on the podium with a top line of nearly Rs. 340 billion is LOLC Holdings while Carson Cumberbatch secures third place with a consolidated revenue of over Rs. 323 billion.

Commercial Bank of Ceylon (ComBank) leads the profitability rankings with a profit after tax exceeding Rs. 55 billion. It is followed by Browns Investments with profits surpassing Rs. 53 billion and Hatton National Bank (HNB), which recorded a bottom line of Rs. 44 billion to take the No. 3 spot among the most profitable listed companies in 2024/25.

A spokesperson for Media Services says the 100 strong rankings ‘underscore the continued dominance of Sri Lanka’s top conglomerates and banking sector among listed entities.’

In addition to the listed company rankings, the LMD 100 special edition will cover the national economy and performance of Sri Lanka’s leading listed companies in financial year 2024/25. It will also feature a series of interviews with a collection of the LMD 100’s high achievers.

Media Services says the LMD 100 special edition will be released in December.

The Mastercard 5 Club Premier Challenge 2025 is set to take place on 4 and 5 October at the Royal Colombo Golf Club, promising yet another exciting chapter in this much-anticipated golfing event.

Known for its competitive yet friendly spirit, the tournament continues to draw wide participation from the country’s golfing community.

The opening day will feature a shotgun start at 7:00 a.m. and 1:00 p.m., ensuring that the large field of participants can enjoy smooth play across the historic fairways of RCGC. With more than 270 golfers already registered, the atmosphere is expected to be vibrant and full of energy.

The final day will tee off at 7:00 a.m., where participants will vie for top honours and test their skills under pressure. The layout of the RCGC, with its challenging greens and strategic hazards, will demand both precision and consistency.

As always, the event is more than just competition it is a celebration of camaraderie and golfing excellence. The Mastercard 5 Club Premier Challenge 2025 stands as a highlight in the local golfing calendar, bringing together seasoned players and rising talents for two memorable days on the course.

The upward momentum in secondary Bond markets continued yesterday with rates rising for a third straight session. Activity and transaction volumes were seen at healthy levels during the earlier trading hours but fizzled out to a virtual standstill during the later trading hours.

The 15.09.27 maturity was seen trading at the rate of 8.85%. The 15.10.28 and 15.12.28 maturities were seen changing hands at levels of 9.23%-9.25%. The 15.06.29, 15.09.29 and 15.12.29 maturities were seen trading at highs of 9.60%, 9.65% and 9.68% respectively. The 15.05.30 and 01.07.30 maturities were seen changing hands at the rates of 9.75% and 9.76% respectively while the 15.12.32 maturity at the rate of 10.55%. The 01.11.33 maturity traded within the range of 10.75%-10.74%. The 15.09.34 maturity traded down the range of 10.82%-10.80%.

The total secondary market Treasury Bond/Bill transacted volume for 1 October was Rs. 23.17 billion.

In money market, the weighted average rates on overnight call money and Repo stood at 7.87% and 7.88% respectively.

The net liquidity surplus was recorded at Rs. 172.16 billion yesterday. An amount of Rs. 21.00 billion was withdrawn from the Central Bank’s SLFR (Standing Lending Facility Rate) of 8.25%, while an amount of Rs. 193.16 billion was deposited at Central Bank’s SDFR (Standard Deposit Facility Rate) of 7.25%.

Forex Market

In the Forex market, the USD/LKR rate on spot contracts closed the day steady at Rs. 302.46/302.52 as against Rs. 302.47/302.53 the previous day.

The total USD/LKR traded volume for 1 October was $ 142.00 million.

Union Assurance has once again secured a coveted position in the 100 Most Valuable Brands 2025 ranking published by Brand Finance. The company retains its place within the exclusive Top 50 Valuable Brands, a reflection of its strong brand impact, strength and forecasted brand value creation. This recognition reaffirms Union Assurance’s consistent performance and leadership by remaining relevant and resilient in a dynamic business environment.

Driven by a brand vision of empowering progress for all, Union Assurance offers a comprehensive suite of protection solutions tailored to meet the evolving needs of its customers. The company continues to lead the way in digital transformation, introducing multiple industry-first innovations that have redefined the Life Insurance experience in Sri Lanka. In addition, Union Assurance has made forward-looking investments to simplify Life Insurance and enhance accessibility by expanding its presence across omni-platforms that are seamlessly integrated into the everyday lives of Sri Lankans.

Aligned with its brand vision, the company has also launched its flagship CSR program, Suwamaga dedicated to reducing the rising incidence of diabetes in Sri Lanka. Anchored on four strategic pillars-raising awareness, promoting healthy lifestyles, supporting early detection and risk management, and fostering community engagement, the program delivers a holistic approach to diabetes prevention and control nationwide. The program has since positively impacted over 22,000 individuals across Sri Lanka between September 2024 and August 2025 with free testing services provided to the public for completely free of charge across all corners of the island.

Chief Executive Officer Senath Jayatilake stated, ‘We are proud and humbled by this ranking. This recognition highlights the enduring trust and confidence that our customers and stakeholders place in Union Assurance. It is also a demonstration of the hard work and dedication of our entire team in ensuring that we consistently exceed expectations and deliver best-in-class value.’

Chief Marketing Officer Mahen Gunarathna said, ‘This recognition is a powerful endorsement of our brand’s relevance and resonance in the hearts of Sri Lankans. At Union Assurance, we are deeply committed to building a brand that not only delivers protection but also empowers progress of all. Through strategic marketing, customer-centric innovation, and purpose-led initiatives like Suwamaga, we continue to strengthen our connection with communities and drive meaningful impact across the nation.’

Sri Lanka has slipped sharply in global gender equality rankings, according to findings presented by UN Women to the Women Parliamentarians’ Caucus recently. The country, which ranked 18th out of 115 nations in 2006, has fallen to 130th among 148 countries in 2025.

The study assessed women’s economic empowerment, participation in governance and decision-making, roles in peace and security, and efforts to prevent violence against women and girls. While acknowledging that some of the region’s most influential figures are women, the research highlighted persistent disparities between men and women across these areas.

Chairing the session, Women and Child Affairs Minister Saroja Savithri Paulraj called for the final report to be shared with the caucus and proposed that, in addition to allocations for the Women and Child Affairs Ministry, each Ministry should set aside funds in the upcoming Budget to support women’s empowerment.

She also announced plans for a study, with the Westminster Foundation for Democracy, on challenges faced by women in public office from Local Government to the Presidency.

Discussions also included the International Foundation for Electoral Systems, which outlined initiatives to strengthen women’s participation in politics at local, provincial, and national levels. Paulraj invited the Foundation to present its proposals to the Caucus.

Several Parliamentarians, including Deputy Chairperson of Committees Hemali Weerasekara and MPs Kaushalya Ariyaratne, Oshani Umanga, Krishnan Kalaichelvi, and others, attended the meeting.

Vehicle importers yesterday objected to a Treasury proposal requiring a 35% surcharge for the release of vehicles currently detained by Sri Lanka Customs. The matter was taken up before the Court of Appeal, where counsels representing several importers argued against the move.

The vehicles in question had been brought into the country under letters of credit opened at foreign banks, leading to their detention.

Appearing for a group of importers, President’s Counsel Faiszer Musthapha told Court

that imposing such a surcharge would drive the cost of the vehicles above their actual value.

He also argued that releasing them on a bond was unnecessary, suggesting instead that an undertaking to court by the petitioners should suffice.

President’s Counsels Ikram Mohamed and Sanjeeva Jayawardena, representing other importers, also raised objections, claiming the Customs’ decision to hold the vehicles was unlawful.

During an earlier hearing on 30 September the bench asked Additional Solicitor General Sumathi Dharmawardena, representing Customs, to examine alternatives for release, such as corporate or personal bonds or other undertakings to court.

The bench directed him to present a report on possible arrangements at the next hearing scheduled for 10 October.

Hayleys Leisure has announced the appointment of Rajitha Amarasinghe as Director of Operations – Amaya Resorts and Spas.

In his new role, Amarasinghe will oversee the operations of Amaya Resorts and Spas and the Boutique Collection by Amaya, with a focus on driving operational excellence, elevating service standards, enhancing guest experiences and strengthening financial and business performance. His responsibilities will also encompass people development and compliance, ensuring alignment with Amaya’s vision of becoming the most preferred hotel brand in Sri Lanka.

With over two decades of experience in the hospitality industry, Amarasinghe brings a wealth of operational and leadership expertise. He began his career with Cinnamon Hotels and Resorts, where he served for 13 years, rising to the position of Manager – Compliance, Health and Safety. He later joined Amaya Resorts and Spas, assuming key leadership roles, including Head of Operations and Head of Health, Safety, and Compliance. Throughout his career, he has demonstrated a strong ability to balance service excellence with people development, shaping operational standards that have enhanced both guest satisfaction and organisational performance.

An alumnus of the International Management Institute (IMI), Switzerland, Amarasinghe holds a Postgraduate Diploma in Hospitality Management, specialising in Hospitality Administration and Management.

Rajitha said: ‘It is a great honour to step into the role of Director of Operations at Amaya Resorts and Spas. I am excited to work with our incredible team to elevate hospitality to the next level by creating memorable guest experiences and fostering sustainable growth. My focus will be on enhancing operational excellence and empowering our people to deliver the highest standards of service.’

Hayleys Leisure Managing Director Rohan Karr said: ‘Rajitha has been an integral part of our team, consistently demonstrating exemplary management skills, operational expertise and a deep commitment to delivering excellence. We are confident that under his guidance, Amaya Resorts and Spas will become the most preferred hospitality brand in Sri Lanka.’