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Monday September 28th, 2026

Shakthika Sathkumara discharged days ahead of UNHRC sessions

ECONOMYNEXT – Sri Lankan fiction writer Shakthika Sathkumara, who was in pre-trial detention for months over a controversial short story, was discharged today the Attorney General’s spokesperson Nishara Jayaratne confirmed to EconomyNext.

The author’s release comes with days left for the United Nations Human Rights Council (UNHRC) sessions.

In May last year, the United Nations Working Group on Arbitrary Detention said the Government of Sri Lanka was in contravention of its international human rights obligations for Sathkumara’s pre-trial detention. The UN body said he was detained for peacefully exercising his right to freedom of expression.

Sathkumara faced up to 10 years in prison if he was found guilty as he was charged under Section 3(1) of the ICCPR Act and Art 291(B) of the Penal Code of Sri Lanka, which deals with propagating hatred and incitement of racial or religious violence.

Many Sri Lankan and international organisations including CIVICUS, the global civil society alliance and the Asian Human Rights Commission (AHRC) called for Sathkumara’s release.

He was arrested by the Polgahawela Police in response to a complaint alleging that his short story ‘Ardha’ (Half) was derogatory and defamatory to Buddhism.

The ICCPR Act (of Sri Lanka), which was ratified in 2007, seeks to give effect to certain articles in the ICCPR (as adopted by the UN General Assembly in 1966 and acceded to by Sri Lanka in 1980). Sathkumara was arrested for violating the Subsection (1) of Section 3 of the Act which states: “No person shall propagate war or advocate national, racial or religious hatred that constitutes incitement to discrimination, hostility or violence.” (Colombo/Feb09/2021)

Sri Lanka stocks close down on global headwinds, turnover Rs595mn

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange closed down on Monday after an early uptick, CSE data showed, with the benchmark All Share Price Index moving down 0.39 percent.

The ASPI was down 81.79 points at 20,955.56, while the more liquid S&P SL20 closed down 0.29 percent, or 17.28 points, at 5,923.44.

Market sentiment was weighed down by wider international developments, brokers said.

“Markets were down today; I think it is still very much the global disruptions that are really hurting sentiment,” Raynal Wickremeratne, Head of Research and Strategy at NDB Securities, said.

“Turnover was under 600 million rupees today, which is quite low, though there were crossings in counters such as John Keells and CDB,” Wickremeratne said.

Market turnover was 595.97 million rupees. Diversified Financials led turnover with 128.71 million rupees, followed closely by Capital Goods with 128.44 million rupees.

Positive contributors to the ASPI were Distilleries Company of Sri Lanka (up 0.76 percent at 52.90 rupees), Ceylon Tobacco Company (up 0.94 percent at 1,790.75 rupees), Laugfs Gas (up 1.86 percent at 43.80 rupees), and Hayleys (up 0.44 percent at 226.00 rupees).

Carson Cumberbatch (down 2.75 percent at 716.50 rupees), Sri Lanka Telecom (down 2.16 percent at 85.90 rupees), Dialog Axiata (down 0.65 percent at 46.10 rupees), and SMB Finance (down 9.09 percent at 1.00 rupee) were among the top negative contributors.

ACL Cables PLC announced an interim dividend of 60 cents per share for the financial year ended March 31, 2026, totaling 431.23 million rupees. The ex-dividend date is October 7, 2026, with payment scheduled for October 26, 2026. (Colombo/Sep28/2026)

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Sri Lanka’s central bank seeks cyber specialist to counter threats

ECONOMYNEXT – Sri Lanka’s central bank is looking for a cybersecurity professional, a Red Team Specialist, to look for advanced threat actors and simulate real-world cyberattacks.

The position is a contract role for three years, aimed at boosting the regulator’s proactive threat intelligence, network defense, and breach simulation capabilities.

The specialist will be tasked with executing intelligence-led red team engagements and proactive “hunt missions”.

Responsibilities include tracking ransomware groups, phishing kits, and fraud campaigns on the dark web and open sources.

Applicants should be below 30 years of age as of October 31.

Central banks worldwide face heightened risks from complex financial fraud campaigns. (Colombo/Sep28/2026)

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Sri Lanka investor forum to explore opportunities in health

ECONOMYNEXT – Sri Lanka’s potential in the Health Economy will be explored at the Sri Lanka Economic & Investment Summit 2026 (SLEIS 2026), organised by The Ceylon Chamber of Commerce on 12-13 October.

The session, “Reimagining Healthcare for a Modern Health Economy,” will explore how Sri Lanka can strengthen its healthcare ecosystem while developing new opportunities across healthcare services, pharmaceuticals, medical technology and related sectors.

It will also consider the role of private sector investment and innovation in improving healthcare delivery and outcomes.

The panel will feature a keynote address by Tushar Shroff – Chief Financial Officer, Zydus Lifesciences Limited.

He will be joined at the discussion by Vidyani Hettigoda – Director, Hettigoda Group of Companies, Raveen Wickramasinghe – President, Association of Private Hospitals and Nursing Homes and Chief Executive Officer, Ruhunu Hospital, Murtaza Esufally – Deputy Chairman / Non-Executive Director, Hemas Holdings PLC, and Ravi Rannan Eliya – Director, Institute for Health Policy.

The discussion will be moderated by Shyam Sathasivam – Group Chief Executive Officer, Sunshine Holdings PLC.

The session will examine how developments in healthcare can contribute to productivity, investment and economic growth, while addressing the opportunities and challenges involved in building a modern health economy. (Colombo/Sep28/2026)

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Sri Lanka stocks trend up; ASPI passes 21,000

ECONOMTNEXT – Sri Lanka’s Colombo Stock Exchange opened higher on Monday, CSE data showed, with the benchmark All Share Price Index moving up 0.15 percent.

The ASPI was up 30.69 points at 21,068.04, while the more liquid S&P SL20 was up 0.15 percent, or 8.69 points, at 5,949.41.

Positive contributors to the ASPI were LOLC Finance (up 1.92 percent at 5.30 rupees), Hayleys (up 0.89 percent at 227.00 rupees), Dialog Axiata (up 0.43 percent at 46.60 rupees), and Commercial Bank (up 0.25 percent at 204.50 rupees).

SMB Finance (down 9.09 percent at 1.00 rupee), Melstacorp (down 0.41 percent at 183.25 rupees), and Hemas Holdings (down 0.32 percent at 30.90 rupees) were top negative contributors.

Market turnover was 57.56 million rupees.

Diversified financials led turnover with 7.61 million rupees, followed by banks with 7.03 million rupees.

Vidullanka PLC said project companies in which it holds equity have submitted winning bids to establish 18.7 MW/93 MWh of battery energy storage systems (BESS) integrated with existing ground-mounted solar power plants.

The company’s estimated share of equity investment across the four projects is around 600 million rupees. (Colombo/Sep28/2026)

 

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Sri Lanka’s Vidullanka submits winning bids for 18.7MW battery storage projects

Vavunathivu 10MW Solar PV Project, Sri Lanka – Vidullanka PLC

ECONOMYNEXT — Sri Lanka’s Vidullanka PLC said project companies in which it holds equity have submitted winning bids to establish 18.7 MW/93 MWh of battery energy storage systems (BESS) integrated with existing ground-mounted solar power plants.

The projects will be developed on a build, own and operate (BOO) basis for a 15-year operational term, the company said in a market filing.

Vidullanka’s estimated share of equity investment across the four projects is around 600 million rupees, which remains subject to adjustments based on the final capital structure and cost refinements.

The investment will be funded mainly through internal cash generation from solar operations alongside project-level debt financing.

“Retrofitting battery storage to existing operational ground-mounted solar facilities will optimize solar power evacuation, reduce energy curtailment, and provide grid stabilization benefits over the 15-year power purchase operational window,” the energy firm said.

The ventures include three 4.9 MW/25 MWh installations through Solar Universe (Pvt) Ltd, Sooryashakthi (Pvt) Ltd, and DPV Solar Energy (Pvt) Ltd, in which Vidullanka holds a 50 percent stake each. A fourth project, VidulSolar (Pvt) Ltd at Madampe, is wholly owned by the firm and accounts for 4.0 MW/18 MWh of storage capacity.

Final documentation and official clearances before work can proceed are pending.

“While the bid prices submitted by these project companies fell within the winning evaluation threshold, the formal securing and award of the projects remain subject to the receipt of formal Letters of Award, regulatory approvals, and the execution of definitive project agreements.”

Further announcements will be made once formal awards and definitive contracts are finalized, the company said. (Colombo/Sep28/2026)

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Sri Lanka rupee at 330.50/65 to US dollar spot, bond yields edge lower

ECONOMYNEXT – Sri Lanka’s rupee was quoted at 330.50/65 to the US dollar in the spot market on Monday, while bond yields edged lower at open, dealers said.

A bond maturing on 01.08.2030 was quoted at 11.13/20 percent, from 11.10/15 percent.

A bond maturing on 15.10.2030 was quoted at 11.18/25 percent, down from 11.20/25 percent.

A bond maturing on 01.02.2031 was quoted at 11.20/30 percent, down from 11.25/30 percent.

A bond maturing on 15.12.2032 was quoted at 11.65/75 percent.

A bond maturing on 15.10.2034 was quoted at 11.90/12.00 percent, down from 11.93/12.05 percent.

The telegraphic transfer rate for the dollar was 326.00 buying, 335.00 selling; the euro was 368.7831 buying, 382.5639 selling; pound was 430.6238 buying, 444.7322 selling.

On the Colombo Stock Exchange the All Share Price Index was up 0.06 percent, or 13.23 points, at 21,050; while the S&P SL20 was up 0.32 percent, 18.77 points, at 5,959. (Colombo/Sep28/2026)

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