ECONOMYNEXT — Sri Lanka’s Senthilverl Holdings has increased its stake in Sarvodaya Development Finance beyond the 10 percent following a market transaction, a market filing showed.

The transaction, carried out on September 9, 2026, through broker Almas Equities, involved the purchase of 750,000 voting shares at prices ranging between 39.70 rupees and 41.00 rupees per share.

Prior to the trade, Senthilverl Holdings held 14,633,597 shares, representing a 9.78 percent stake in the finance company as of September 8, 2026.

Following the acquisition, the total shareholding rose to 15,383,597 shares, bringing the resulting stake to 10.28 percent of the company’s total issued share capital of 149,596,052 shares.

The mandatory disclosure was made under Section 36 of the Take-Overs & Mergers Code of Sri Lanka 1995 (as amended in 2003), which requires disclosure when an investor’s holding exceeds the 10 percent threshold.

Sarvodaya Development Finance shares were trading at 39.60 rupees, down 3.41 percent. (Colombo/September10/2026)

ECONOMYNEXT — The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) has launched an automated online platform to clear imported telecommunications equipment, replacing a manual process.

The new Equipment Clearance System (ECS) enables importers to secure necessary regulatory recommendations online for Sri Lanka Customs and the Controller of Imports and Exports.
The first phase of the system targets terminal equipment due to high market demand and import volumes.

The platform handles three main functions: issuing type approval certificates to verify that equipment models meet national standards, granting clearance for IMEI-enabled devices such as mobile phones and routers, and approving non-IMEI equipment including Internet of Things (IoT) hardware.

It also processes permissions for items brought into Sri Lanka on a temporary basis for re-export.

Clearances for devices using standard SIMs or eSIMs are administered under the Radio and Telecommunications Terminal Equipment Type Approval Rules 2020 gazette.

“Only equipment that strictly complies with the specifications outlined in that gazette will be processed through this system,” TRCSL official Amani Priyadarshani said.

The platform establishes login portals and sets specific annual limits across three user categories.

Under the system, private individuals can request clearance for up to five devices per year, while institutional applicants are permitted to clear up to 10 devices annually for corporate use.

Meanwhile, registered commercial vendors have a dedicated portal to apply for bulk imports for commercial sale, alongside the ability to import up to two units per model for technical evaluation and type approval.

The system is accessible at https://ecs.trc.gov.lk](https://ecs.trc.gov.lk or through the TRCSL official website under the equipment clearance section.

Licensed vendors are issued login credentials following their registration, TRCSL official Shashika Pannilage said, while individuals and institutional users can register through the site.

Applicants can track the progress of their submissions in real time, with notifications sent by SMS and registered email at key stages.

The TRCSL has set up user guides on the site and opened a technical help desk accessible by telephone at 1900 (extension 4105) or via email at ecshelpdesk@trc.gov.lk. (Colombo/Sep10/2026)

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange closed down on Thursday trading, CSE data showed, with the benchmark All Share Price Index moving down 0.44 percent.

The ASPI was down 93.55 points at 21,372.45, while the more liquid S&P SL20 was down 0.39 percent, or 23.80 points, at 6,010.07.

Positive contributors to the ASPI were Aitken Spence (up 1.61 percent at 142.00 rupees), Ceylinco Holdings (up 0.85 percent at 2,925.00 rupees), Sampath Bank (up 0.36 percent at 139.50 rupees), Richard Pieris and Company (up 1.13 percent at 26.90 rupees), and The Colombo Fort Land & Building Company (up 3.03 percent at 57.80 rupees).

Melstacorp (down 1.85 percent at 186.00 rupees), Dialog Axiata (down 1.24 percent at 47.90 rupees), Cargills (Ceylon) (down 2.00 percent at 675.00 rupees), and RIL Property (down 3.21 percent at 24.10 rupees) were top negative contributors.

Market turnover was 1.45 billion rupees. Banks led the day’s turnover with 600.63 million rupees.

Senthilverl Holdings, through Almas Equities, purchased 750,000 shares of Sarvodaya Development Finance on September 9, at prices ranging between 39.70 and LKR 41.00 per share.

The acquisition increased its total holding from 14,633,597 shares (9.78%) to 15,383,597 shares, taking its stake to 10.28% and exceeding the 10% threshold required for disclosure under Section 36 of Sri Lanka’s Take-Overs & Mergers Code.

Sarvodaya Development Finance shares were trading at 39.60 rupees, down 3.41 percent.
(Colombo/September10/2026)

ECONOMYNEXT — Sri Lanka cannot accumulate foreign exchange reserves through market distortions, money printing, or heavy foreign borrowing, but must build buffers before external shocks strike, Central Bank Governor Nandalal Weerasinghe said.

“For central banks, foreign reserves are far more than financial assets on a balance sheet. They are a country’s—a nation’s—first line of defense against external shocks,” Weerasinghe told a Reserve Management Conference in Colombo.

Foreign exchange reserves are a nation’s savings that provide vital time and policy space during a crisis, preventing disorderly economic corrections, Weerasinghe said.

Sri Lanka experienced this during its 2022 economic crisis when depleted buffers crippled imports, accelerated inflation, and triggered debt defaults, he said.

While external balances have improved since 2023, rebuilding reserves is not linear because sudden shocks can quickly wipe them out.

Weerasinghe warned that rebuilding buffers requires discipline and cannot happen at any cost. Excessive market interventions distort price signals, monetary financing fuels inflation, and commercial debt creates future repayment burdens.

“A sustainable reserve accumulation strategy is not merely about acquiring reserves; it is about building an economy that naturally generates and retains foreign exchange,” he said.

Weerasinghe said reserve adequacy must move beyond simple months of import cover to assess debt servicing, volatile capital flows, and climate shocks.

He cautioned that portfolio diversification must not compromise liquidity, while citing bilateral support from the Reserve Bank of India during the crisis as vital regional resilience.

Asian Infrastructure Investment Bank (AIIB) Treasurer Domenico Nardelli, who attended as the chief guest and delivered the keynote address, noted that reserve managers face sharp price swings even in safe assets like US Treasuries.

Nardelli dismissed claims of an imminent dollar collapse, noting it accounts for roughly 57 percent of allocated global reserves. While gold has hit record levels, he cautioned that it pays no yield and carries sharp price swings.

“Liquidity carries an inherent cost of carry. Rather than viewing this financing drag as lost yield, institutions must treat it as an essential insurance premium,” Nardelli said.

Citing historical merchant bank failures and the 2023 collapse of Silicon Valley Bank, Nardelli said holding ample liquid buffers buys critical time to reassure markets and manage unexpected cash outflows. (Colombo/Sep10/2026)

ECONOMYNEXT – Sri Lanka must establish an independent maritime regulatory body to safeguard fair competition and draw foreign investment before its current growth window closes, United States Federal Maritime Commission (FMC) Chairman Laura DiBella said.

Setting up a dedicated regulatory body — similar to the FMC — would monitor ocean carrier alliances, prevent cartel behavior, deter rate exploitation, and provide clear rules that give global investors confidence, she said.

“A clear regulatory framework de-risks the market for foreign direct investment. Capital avoids environments with arbitrary constraints or excessive risk,” DiBella told the Colombo International Maritime and Logistics Conference.

Colombo has become a critical link for American supply chains, handling approximately 500,000 containers representing 30 billion US dollars in cargo value, DiBella said.

Seaports are the foundation of economic growth, DiBella said, but warned that governments must stick to a supporting role and allow private enterprise to drive commercial expansion.

She said the FMC is ready to help Sri Lanka structure a fluid, competitive framework to keep trade lanes moving.

During an ensuing panel discussion, business leaders and regional experts warned that Sri Lanka must move beyond basic transshipment and eliminate local bottlenecks to maintain its commercial edge.

Ashraf Omar, Chief Executive Officer of Brandix Sri Lanka, pointed out that export manufacturing is rapidly shifting from forecast-driven orders to fast, demand-driven deliveries where fashion products lose value if they do not reach retail shelves on time.

“We might shave five days off factory production, only for the finished goods to sit at a port or with a freight forwarder for ten days. That waiting time wipes out every efficiency gained on the factory floor,” Omar said.

Omar urged officials to avoid distant 25-year plans and focus immediately on digital solutions that cut cargo transfer times to minutes, enabling finished goods to move directly from factory floors onto ships.

René Piil Pedersen, Managing Director of A P Moller – Maersk Singapore, said emerging hubs unlock real transformation when port terminals are combined with landside warehousing and free-trade logistics.

Citing Singapore as an example, Pedersen pointed out that Scottish distillers ship Scotch whisky into Singapore’s free trade zone, where bottles receive market-specific labels inside warehouses before being distributed to destinations like Manila or Jakarta. Singapore captures this high-margin value addition despite producing no whisky of its own, an opportunity Sri Lanka can easily replicate along its busy sea lanes, he said.

Pedersen also urged Colombo to prepare facilities to supply clean alternative marine fuels like green methanol to passing fleets.

Closing the panel, FMC Commissioner Robert Harvey called on authorities to treat the national logistics sector like a competitive commercial enterprise, stressing that transparent regulations are critical to attract private capital and advanced technology. (Colombo/Sep 10/2026)

ECONOMYNEXT – The South Asian University (SAU) has signed an agreement with the Regional Centre for Strategic Studies (RCSS), Colombo, Sri Lanka, to foster research networks, partnerships and collaborations across South Asia.

“The MOU aims to nurture regional consciousness and the idea of ‘Southasianess’ among young minds, facilitate joint research, strengthen capacity-building networks, and promote knowledge exchange and meaningful regional engagement,” a statement by the two parties said.

“This partnership marks an important step in strengthening the historic, cultural and academic ties between India and Sri Lanka and advancing greater regional cooperation across South Asia.”

SAU President Prof K K Aggarwal said the MOU strengthened SAU’s relationship with Sri Lanka and “reaffirmed SAU’s commitment to taking the SAARC mandate forward and exploring campuses across South Asia, particularly in Sri Lanka.”

RCSS Executive Director Ravinatha Aryasinha said the partnership offers potential for joint research, knowledge exchange, policy dialogue, publications, conferences and opportunities for young scholars.

RCSS Board Member Esala Weerakoon said the MOU represents a commitment to knowledge, research and dialogue as instruments of regional consciousness.

RCSS Board Member Professor Emeritus of International Relations, University of Colombo Prof Amal Jayawardane, highlighted the potential of the two institutions to create a strong platform for collaborative research and regional engagement. (Colombo/Sep10/2026)