News & market updates

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IIHS Multiversity held the Coventry University Bachelor’s in Nursing (CUBN) pinning ceremony, formally marking its nursing students' transition from students to healthcare professionals. The event underscored IIHS's international partnerships and emphasis on global-standard healthcare education.

NPP presidential candidate Anura Kumara Dissanayake pledged victory on 21 September, urging voters to back his grassroots campaign and promising a government that brings change. He blamed the ruling elite for hardships including medicine shortages and a fertiliser crisis that harmed farmers.

Inovartic Investment Lanka, a JV of Apex Asia Holdings and UAE's Inovartic Investment LLC, has partnered with Abu Dhabi University and SLINTEC to develop graphene production and pre-processing facilities in Sri Lanka and Abu Dhabi for export.

Inovartic Investment Lanka (a JV between Sri Lanka’s Apex Asia Holdings and UAE’s Inovartic) with Abu Dhabi University and SLINTEC will build graphene processing and pre‑processing facilities in Sri Lanka and Abu Dhabi to develop graphene products for export and R&D collaborations.

University of Ruhuna and Fadna signed a licensing agreement to commercialize university-developed products, beginning with a herbal remedy for diabetes. The partnership aims to translate research into marketable health products and promote innovation and public health.

Court of Appeal granted a final constitutional injunction restraining the Minister of Health from altering contracts or taking actions affecting Spectrum Pharmatech Lanka's 'Suwa Siri Pura' Pharmaceutical Production Zone in Oyamaduwa; the injunction is effective for 3 months or until arbitration commences.

China's ambassador said bilateral ties with Sri Lanka will deepen, highlighting Chinese-backed flagship projects (Port City, Hambantota Port, hospitals, expressways, power stations) and noting China is Sri Lanka's second-largest trade partner and largest FDI source.

Dividend · Rs 0.30 · XD Sep 26, 2024

First Interim dividend of LKR 0.3/share; XD 2024-09-26; record 2024-09-26; payable 2024-10-15; FY 2024/2025

Dividend · Rs 1.50 · XD Sep 26, 2024

First Interim dividend of LKR 1.5/share; XD 2024-09-26; record 2024-09-26; payable 2024-10-15; FY 2024/2025

Cabinet approved revisions to Customs Import Duty, CESS, Special Commodity Levy and PAL to support local industry, cutting or exempting duties on items including brown sugar, footwear, packaging, electrical machinery, plastics, diapers and rubber inputs, and introducing measures to promote palm exports and pharma raw-material exemptions.

Hemas Holdings PLC has launched a joint venture with SLIIT to create the SLIIT-HEMAS Allied Health Sciences Institute (SHAHSI), opening for intake in October with over 300 students and offering nursing and allied health programs, scholarships and guaranteed employment.

Samagi Sevana, a charity home near Apeksha Hospital opened in January 2021, has provided free shelter, food and care to over 1,400 cancer patients and now serves 25–35 patients daily. The centre urgently needs increased funding and accepts donations via the Archbishop of Colombo – CPW Fund account at Commercial Bank of Ceylon or online.

Link Natural Products' herbal drink Swastha Amurtha is now listed on Costco Japan's online platform, expanding the brand's presence in the Japanese market.

Author urges Sri Lanka to develop pillow and smart-pillow manufacturing and export links (via China's Belt & Road) to help economic restructuring. The piece cites global sleep-related issues (~936m in 2023) and neck-pain market growth to highlight demand opportunities.

St. Joseph Hospital in Negombo has launched a free daily OPD service (7 AM–12 PM). The hospital is affiliated with Kids & Teens Medical Group (Los Angeles) and plans to expand to over 50 inpatient rooms, including emergency and advanced surgical services.

Vision Care Academy held its inaugural graduation ceremony, honoring graduates from its Diploma in Optometry and certificate programs in audiometry, dispensing optics and ophthalmic assistance. The event featured senior figures in ophthalmology and education and included an oath-taking for professional standards.

Ninewells Hospital renewed its MoU with the National Insurance Trust Fund to extend special benefits and discounts to Agrahara Insurance Scheme beneficiaries. The partnership covers maternity, paediatrics, gynaecology, surgeries, fertility, lab and radiology services and includes preventive programmes and tailored savings packages.

Former President Chandrika Bandaranaike Kumaratunga said she will remain neutral and will not endorse any candidate in the upcoming presidential election. She urged voters to prioritise candidates' action plans, integrity and the abolition of the Executive Presidency, and proposed a citizen-inclusive People’s Council and policies on health, agriculture and tourism.

ATG Group donated a Green Laser machine worth 12.8 million rupees to Vijaya Kumaratunga Memorial Hospital in Seeduwa, reviving vitrectomy services and enabling over 80 vitrectomies with a two-month waiting list. The donation replaces a broken unit that had forced patients onto a three-year wait at the National Eye Hospital.

Vision Care Academy, the training arm of Vision Care, held its inaugural graduation ceremony, awarding diplomas and certificates in optometry, audiometry, dispensing optics and ophthalmic assistance. The Academy's programs are supervised by the Tertiary and Vocational Education Commission (TVEC).

Colombo market rebounded, ending a 12-day losing run as the ASPI rose 1.5% (164 points) with turnover of Rs. 1.46bn; banking counters and index heavyweights such as Commercial Bank, Sampath Bank, Melstacorp, CTC and Hayleys were top contributors.

Colombo Stock Exchange closed higher: All Share Index +1.54% and S&P SL20 +1.84% with turnover LKR 1.4bn and net foreign outflow of 68.23mn. Market saw accumulation in banking shares and conglomerates, with top turnover in HNB, Commercial Bank and Ceylon Hospitals; mixed foreign flows across CIC, Tess Agro, JAT, Lanka IOC, hSenid and Softlogic.

Sri Lankan pharmaceutical industry groups (NCPMSL, SLCPI) oppose a Cabinet proposal to procure 37 drugs from India’s Jan Aushadhi, warning it could bypass NMRA registration, favor HLL Lifecare and harm local manufacturers. Health Minister said all drugs will be registered with the NMRA and an MoU will be signed.

Op-ed urges the next President to establish a Ministry of AI to coordinate national AI strategy and boost public-sector efficiency, national security, investment and skills development. The author notes Sri Lanka ranks 95th in the Oxford Insights 2023 Government AI Readiness Index.

The Indian Cultural Association held its inaugural ICA International Half-Marathon in Colombo on Sept 1, 2024, with 1,400 athletes from 20 countries; sponsors and partners included Lanka IOC, Asiri Hospital and Dialog TV, and the event aimed to promote Sri Lanka as an international sporting and tourism destination.

A faulty CrowdStrike configuration update on 19 July 2024 triggered a reboot loop that affected over 8.5 million Windows machines worldwide and disrupted hospitals, banks, airlines and government services. Earlier in 2024 a compromised Linux XZ Utils release (CVE-2024-30942) showed similar supply-chain risks to SSH and infrastructure.