Diaries going out of vogue?
Are diaries going out of vogue? Most corporates have, over the past two years, stopped issuing diaries to their clients and customers – maybe realising that Google and other apps have diaries which keep us abreast of scheduled events. Bookshops in Pettah say that they have only resorted to one print order last year compared [...]
Ten years later, the SL Bond Scam rolls on unresolved
More than 10 years after the island nation’s most contentious financial crime was committed, the case of Central Bank of Sri Lanka’s (CB) bond scam triggering losses running into billions of rupees remains unresolved. “This saga is like Erle Stanley Gardner’s Perry Mason series detective novel,” a senior economist said describing the episode as “symptomatic [...]
Drama at the bourse: WealthTrust trades cause mayhem
The Colombo bourse has hit the highest of highs and the lowest of lows but, there has never been a chaos creating day like Wednesday, January 7, with the market day lasting only 23 minutes, exposing massive weaknesses of the stock market systems, after trades on Wealth Trust Securities first trading day. Some suggested that [...]
Colombo Port a hub of congestion
The Colombo Port is currently facing congestion as some importers complain it takes about a month to clear their cargo. With about 5000 containers at all terminals at the Colombo Port there are about 400 loaded onto lorries queued up for clearing, and there is a growing congestion at the port due to the increased [...]
Sri Lanka rupee depreciates
Two market-moving and business-impact-related developments were seen in Sri Lanka this week with drama, both in the stock market and the money markets, in Colombo. The Rupee slumped to 310 per dollar from 306 due to unprecedented demand for dollars and a shortage in the market. Gold prices were also rising owing to global political [...]
Going “nuts over nuts”
When the coconut was ‘king’ many decades ago, it was so ubiquitous that a night club at a well-known hotel in Colombo was named ‘The Coconut Grove’. The late baila maestro M.S. Fernando regaled his fans with the popular song ‘Pol-pol-popol-pol-pol-pol – Lankawe wathuwala wawena pol (Coconuts grown in the gardens of Sri Lanka)’, with [...]
Draft electricity policy is driving investors away
Sri Lanka’s draft National Electricity and Tariff Policy has generated intense debate, particularly following discussions at the Parliamentary Oversight Committee. Some in the industry say the policy is hurried or disconnected from broader energy objectives while others say the pressing issue is not policy direction, but the economic, legal, planning, and delivery assumptions underpinning implementation. [...]
TRI certifies first major Ceylon Tea Quality Assessment in 150 years
SpectrifyAI, a pioneering Sri Lankan AgriTech start-up, this week announced the official launch of its revolutionary AI-powered platform for the tea industry. This innovative technology, which has received the prestigious certification from the Tea Research Institute of Sri Lanka (TRI), has set out to disrupt traditional tea quality testing and usher in a new era [...]
Uber Eats survey: Sri Lankans crave for spice, chocolate
An Uber Eats 2025 survey was dominated by ‘rice and curry’, as the number one searched term of the year. When it came to specialty rice dishes, Fried Rice clearly won the crown, beating Biriyani by a convincing margin, the ride-hailing app said in a media release. Spice once again dominated delivery instructions, with the [...]
Need to increase insurance penetration in Sri Lanka
At the recently held Sri Lanka Insurance Brokers Association (SLIBA) AGM in Colombo, the newly elected President Ainsley Alles urged all stakeholders to recognise and support the insurance industry’s vital role in Sri Lanka’s economic restructuring efforts following the devastation of Cyclone Ditwah. He emphasised that brokers, regulators, and industry partners must work together to [...]
UK’s revised trade concessions – best deal for Sri Lanka
Sri Lanka’s apparel industry now shares a competitive advantage in the UK market as they now qualify for a removal of barriers on raw materials sourcing alongside its duty free access effective January 1. This makes the UK scheme “most advantageous” to the Sri Lankan apparel industry compared to its other markets like the US [...]
Central Bank sets 2026 Roadmap for stability and sustainable growth
Sri Lanka’s post-crisis recovery is entering a decisive phase as the Central Bank of Sri Lanka (CB) sets out a forward-looking policy agenda aimed at locking in stability while laying the foundations for durable and inclusive growth. With macroeconomic conditions now steadier, the Central Bank says the challenge ahead is not recovery, but resilience. Delivering [...]
SEC and CSE collaborate to expedite listings
The Securities and Exchange Commission of Sri Lanka (SEC) in collaboration with the Colombo Stock Exchange (CSE) recently conducted an awareness session for Corporate Finance Advisors focusing on enhancing regulatory compliance and streamlining the listing process. The forum brought together Corporate Finance Advisors and senior officials from the SEC and CSE to enhance the listing [...]
Korea supports WFP’s cyclone emergency assistance in Sri Lanka
The United Nations World Food Programme (WFP) has received a contribution of US$ 500,000 from the Government of the Republic of Korea to deliver, urgent lifesaving cash assistance to families whose lives and livelihoods were devastated by Cyclone Ditwah in Sri Lanka. This support strengthens the Government of Sri Lanka’s ongoing response and will enable [...]
Asiri Health, ICTA accelerate healthtech ecosystem
Asiri Health has partnered with the Information and Communication Technology Agency of Sri Lanka (ICTA) to support and accelerate the growth of HealthTech start-ups, marking a significant step in strengthening Sri Lanka’s innovation-led healthcare ecosystem. This strategic collaboration was unveiled during ‘Global Entrepreneurship Week 2025’, at a HealthTech start-up pitching session organised by ICTA. At [...]
SL needs transition from crisis response to a strategic transformative growth model
Sri Lanka needs to transition from a crisis response to a strategic, transformative growth model that involves coherent policies, broad consensus, and inclusive communication to ensure a resilient and prosperous future, says Prof. Dirk Willem te Velde, Director International Economic Development Group, ODI Global. He was speaking at an event where the Centre for Poverty [...]
Another 3 million awaited in 2026
Sri Lankan tourism authorities will for the second consecutive year target three million tourist arrivals and at the same time increase the revenue as well. During the first quarter of this year the government has plans to increase arrivals by going on with the visa free entry for all 40 countries, Tourism Minister Vijitha Herath [...]
ComBank supports DMC to strengthen country’s disaster readiness
The Commercial Bank of Ceylon, under its ‘Rebuild Together’ initiative, a national effort launched following Cyclone Ditwah to aid recovery and reduce future disaster risks, has stepped in to strengthen the country’s disaster preparedness and risk management capabilities by funding the complete revamp of the RiskInfo Spatial Data Portal managed by the Disaster Management Centre [...]
Janashakthi Life’s children’s art competition attracts over 20,000 entries
Janashakthi Life’s ‘Nidahas Adahas’ children’s art competition attracted more than 20,000 entries from across the country last year. The top 100 art pieces across two age categoris were displayed at the Sri Lanka Foundation Institute, turning the venue into a vibrant gallery of youth expression. First, second and third place winners in each category received [...]
Hatch-Singapore makes its first investment
Hatch Fund Singapore has made its first investment, backing Cultive8, a fast-growing agri-technology start-up with Sri Lankan roots and a rapidly expanding regional footprint, ploughing in approximately US$650,000. This will streamline parts of Cultivate8’s cap table while injecting fresh growth capital to accelerate regional and international expansion. Beyond capital, Cultive8 will gain access to Hatch’s [...]
Cinnamon Hotels grows female leadership within the group
Cinnamon Hotels & Resorts is strengthening its commitment to gender inclusion across its portfolio, with female participation now at 19.5 per cent, marking a healthy trajectory toward its 2030 goal of achieving 30 per cent workforce representation. Women currently hold 22 per cent of leadership positions across the group, the company said in a media [...]
Stefan de Alwis wins Asia’s Best Emerging Podcast Award
Sri Lanka’s growing influence in Asia’s digital media and thought leadership space was spotlighted on the regional stage as ‘The 3i Show’ with Stefan de Alwis was awarded Asia’s Best Emerging Podcast Show of the Year 2025–2026 at the prestigious Asia Awards. The recognition positions the podcast not only as a rising regional platform, but [...]
Dunsinane Estate leads the way in tea, tradition and sustainability
Dunsinane Estate, spanning 790 hectares since its establishment in 1879 in the Nuwara Eliya District has nearly 494 hectares under tea cultivation and remains one of the largest and most historic tea estates in the country. The estate is currently managed by Aitken Spence Plantations and owned by Elpitiya Plantations PLC, two of the most [...]
INSEE Lanka appoints new CEO
Siam City Cement (Lanka) Limited (INSEE Lanka) has announced the appointment of Eng. Thusith C. Gunawarnasuriya as its new Chief Executive Officer, effective January 2026, succeeding Nandana Ekanayake, who will continue to serve as Chairman. A long-standing contributor to INSEE’s journey, Mr. Gunawarnasuriya has worked with the company through its evolution under Holcim (Lanka) Ltd, [...]
New blueprint targets long-stalled Mattala Airport
The Mattala Rajapaksa International Airport (MRIA) is in a phase of aggressive revival, using financial incentives and new management models to explore its potential as a significant aviation hub in Sri Lanka, Deputy Minister of Ports and Civil Aviation, Janitha Kodituwakku said. The aim is to turn MRIA into a profitable venture, continuing past efforts [...]
SL health-tech start-up nets $200K in seed funding
Flash Health, a Sri Lankan health-tech start-up building cashless, on-demand outpatient care, has raised a US $200,000 seed round led by nVentures, with participation from angel investors across Sri Lanka, Singapore, and the US. The funding comes as Flash Health expands its footprint across insurers, large employers, and healthcare providers, positioning itself as one of [...]
LOLC Divi Saviya’s 200 school renovations
LOLC Divi Saviya has successfully concluded the first phase of ‘Obai, Mamai, Ape Ratai,’ making a significant impact on Sri Lanka’s ongoing recovery from the devastating Cyclone Ditwah by distributing family super packs across six districts, covering 69 divisional secretariats. Building on the momentum of phase one, LOLC Divi Saviya immediately advanced to its second [...]
AMW secures 55% market share in Class A SUV segment
Associated Motorways (Pvt) Ltd (AMW), a member of the Al-Futtaim Group and the authorised distributor for Nissan and Suzuki in Sri Lanka, has secured a commanding 55 per cent market share to emerge as the clear market leader in the country’s Class A SUV segment for 2025, it said in a media release. In a [...]
Jetwing Saman Villas recognised at Indian’ awards event
Jetwing Saman Villas, part of Jetwing Luxury Reserves, has been awarded “Best International Hotel for Weddings” at the 14th edition of Travel+Leisure India & South Asia’s Best Awards, held on December 16 in New Delhi. This accolade celebrates the resort’s ability to create unforgettable wedding experiences, placing Sri Lanka firmly on the global map as [...]
National Audit raises red flags over costly e-procurement delays
Sri Lanka’s long-promised shift to electronic government procurement, a reform positioned at the heart of public financial management modernisation, stands at critical crossroads. While officials describe the e-Government Procurement (e-GP) project as being in an “advanced stage of implementation,” Auditor General’s Department findings and implementation data reveal significant bottlenecks that continue to delay its full [...]
Gemstones and tourism, a significant growth avenue
While Sri Lanka is well-known for its precious gemstones, especially sapphires, the gems have historically been part of royal collections and international trade, with origins dating back over 2,500 years. The island’s rich gemstone legacy has helped put Ceylon on the world map. “Linking gemstones and tourism presents a significant growth avenue. A sapphire tourism [...]
Will Japan be the world’s Next AI Leader?
TOKYO – Pessimism about AI abounds, with many fearing widespread job losses, soaring inequality, and even the creation of deadly machines. In Japan, however, one finds marked optimism. We believe AI will help our country to overcome acute labour shortages, improve people’s daily lives, and recover global tech leadership. According to an Ipsos survey, a [...]
Milestone year for BOV Capital and SL start-up landscape
BOV Capital, a pioneer in the country’s start-up ecosystem, has announced significant exits from its Fund 1 and Fund 2′s Dialog Axiata Digital Innovation Fund (DADIF) in 2023, including successful ventures such as IFINITY in fintech, Roar Global in digital marketing, Cultiv8 in Agra-Tech, and the public listing of Insureme.lk on the Colombo Stock Exchange. [...]
FitsAir certified for in-house Airbus A320 Pilot Training
FitsAir, has been officially certified by the Civil Aviation Authority of Sri Lanka (CAASL) as an Approved Training Organisation (ATO), authorising the airline to conduct in-house Airbus A320 pilot type training. This milestone certification confirms FitsAir’s full compliance with CAASL’s stringent aviation training standards and enables the airline to deliver a comprehensive suite of pilot [...]
Evolution Auto’s customer deliveries of IM 6 EVs
Evolution Auto has successfully delivered the first batch of IM 6 electric vehicles to customers in Sri Lanka, marking a significant milestone for the brand and reaffirming its commitment to delivering premium, future-ready electric mobility solutions to the local market. Following the brand’s official launch, the first IM 6 units were delivered. “This is more [...]
Of AI hallucinations and AI bias
Salesforce, touted as the world’s no. 1 AI CRM company, on Wednesday announced the upcoming launch of the Salesforce Start-up Programme in Sri Lanka to foster growth and innovation for the country’s vibrant start-up ecosystem. While two reputed speakers from the company extolled the virtues of this product and others at a media briefing, listing [...]