Economy

Colombo stock market soars to two year high

Published

2 years ago

April 26, 2024

The Colombo stock market surged yesterday, propelling the main index to a two-year high.

The benchmark All Share Price Index (ASPI) gained by 1.4% or 170 points, closing at 12,075 points, its highest level since February 2022. The S&P SL20 also saw a notable increase of 2.8%, or nearly 100 points. Total turnover amounted to Rs. 3 billion, involving 142 million shares.

According to Asia Securities, the market initially experienced a downturn but quickly reversed course, ending the day on a high note. The banking sector led the upward momentum, driven by market expectations of provisions reversal, with leading banks such as COMB, PABC, SAMP, and DFCC showing significant gains. Additionally, heightened investor activity was observed in stocks like SINS, LOLC, JKH, and RCL.

COMB, HNB, and SAMP were the main contributors to the ASPI’s upward movement. Turnover was led by COMB, BIL, and LOFC.

Foreign investors recorded a net outflow, with notable activity in COMB.N and TKYO.X.

First Capital noted the market’s continued positive momentum, with the ASPI reaching its highest level since February 2022. Investor sentiment remained strong, particularly in the banking and conglomerate sectors, leading to robust turnover. The materials and food, beverage, and tobacco sectors also contributed significantly to turnover.

NDB Securities highlighted high net worth and institutional investor participation in banks like Pan Asia Banking Corporation and Commercial Bank. Mixed interest was observed in various stocks, with the banking sector emerging as the top contributor to market turnover. Browns Investments and LOLC Finance were among the top turnover contributors, while Singer Sri Lanka witnessed a notable increase in share price.

Overall, the market maintained an optimistic trajectory, buoyed by positive investor sentiment, particularly in the banking sector.

Economy

Galle ranks fifth among top 10 honeymoon destinations for 2026

Published

6 days ago

January 20, 2026

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Galle has been placed fifth among the world’s top 10 honeymoon destinations for 2026 in the latest rankings released by Tripadvisor.

The ranking forms part of Tripadvisor’s Travelers’ Choice Awards Best of the Best 2026 and is based solely on the volume and quality of traveller reviews submitted over a 12-month period.

Tripadvisor said the list reflects destinations that consistently received strong feedback from honeymoon travellers worldwide.

Beach and island destinations dominate the upper end of the 2026 rankings. Bali secured the top position, followed by Mauritius and the Maldives, with St. Lucia ranked fourth. Galle placed fifth, ahead of several established long-haul honeymoon favourites.

Tripadvisor noted that Galle’s appeal lies in its blend of heritage and coastal experiences. Founded by the Portuguese in the 16th century, Galle Fort remains a key attraction, with preserved ramparts, historic buildings, and walkable streets.

Economy

Sri Lanka Postal Service achieves record revenue

Published

2 weeks ago

January 12, 2026

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Sri Lanka’s postal service has recorded a remarkable turnaround in 2025, surpassing revenue targets set by the Treasury and signalling a major revival after years of stagnation.

Postmaster General Ruwan Sathkumara said the Department of Posts generated Rs. 13.1 billion last year, exceeding the revenue target assigned for 2025.

He highlighted that the past year also saw wide-ranging reforms, including large-scale recruitments, confirmations of long-serving staff, infrastructure upgrades, and investments in technology and transport to improve efficiency and service delivery.

According to Sathkumara, 378 Sub-Postmasters received permanent appointments in June 2025—the first confirmations for the category since 2020. In September, the appointments of 1,000 Postal Assistants were regularised, marking the first such confirmations since 2022.

The Postmaster General added that recruitment is underway to hire 600 Postal Service Officers through open competition, with appointments expected in February 2026.

Economy

Sri Lanka ranked most affordable place to live or retire in 2026

Published

2 weeks ago

January 11, 2026

admin

International Living magazine has identified the five most affordable places to live or retire in 2026, which scored the highest in the cost-of-living category of its 2026 Global Retirement Index.

It evaluated retirement destinations across climate, healthcare, visa and lifestyle, along with cost.

Sri Lanka ranked top of the list due to affordable local transportation and easy-to-obtain retirement visas. A couple can live extravagantly on $2,200 (£1,637) a month, or on $1,000 (£744) with some budgeting.

In second place is Vietnam, with the average cost of living in Hanoi sitting at under $1,800 (£1,339) per month. Rent is low and healthcare is affordable.

Thailand was ranked third, because a couple can live comfortably for around $2,000 (£1,488) a month in cities such as Chiang Mai or coastal towns such as Hua Hin. These both have affordable housing, and accessible services and transportation.

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