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For the first time in Sri Lanka, Casons Rent a Car, a leading family-run car rental company, has introduced a fleet of eco-friendly green vehicles to local roads.

Founder and Chairman M.C. Zakir Ahamed said the company has acquired a new range of vehicles designed to minimise environmental impact and reduce carbon emissions. The fleet comprises fully electric vehicles (EVs) with zero tailpipe emissions, as well as hybrid and clean diesel models that offer improved fuel efficiency.

Ahamed noted that customer demand for electric vehicles has been rising steadily, as they are cheaper to operate, environmentally sustainable, and help reduce both air and noise pollution.

‘The move towards eco-friendly cars is essential for the future of our business and for the planet,’ he said. ‘We aim to make green mobility affordable by offering special rental rates for our eco-friendly vehicles.’

Known for its high standards of customer service and satisfaction, Casons Rent a Car expanded its operations in 2017 to the Bandaranaike International Airport (BIA) with the opening of a modern travel counter at the arrival terminal.

Ahamed also revealed that Casons has added a fleet of Jaicoo electric cars to its lineup, which will be available both at its head office in Gothami Road Rajagiriya and airport counter at BIA.

Casons which will be celebrating their 38th anniversary on 5 November, has grown into one of the country’s most trusted car rental providers.

The company operates the largest vehicle fleet in Sri Lanka’s car rental industry and continues to lead the way in introducing innovative and sustainable mobility solutions.

Marking a historic milestone in Sri Lanka’s digital journey, the National AI Expo and Conference 2025, organised by the Ministry of Digital Economy and SLT-Mobitel concluded recently.

The national endeavour attracted over 12,000 visitors and featured 50+ visionary speakers.

The expo showcased cutting-edge innovations from 35+ exhibitors, hosted 11 dynamic panel discussions with 44 thought leaders, and welcomed participation from over 10+ leading universities and schools.

‘This milestone not only marked a defining moment in the nation’s AI journey but also set the stage for Sri Lanka’s emergence as a hub for technological innovation, collaboration, and future-ready solutions’, the organisers said in a statement.

Lanka Realty Investments PLC has appointed Sarravanan Neelakandan as Chairman of the Board of Directors.

An Attorney-at-law, Neelakandan is a Barrister of Lincoln’s Inn. He holds an LLM in Banking and Finance Law from the University of London and an LLB from the University of Durham.

He has been in practice in the legal profession for over 19 years and is the Founder/Managing Partner of Sarravanan Neelakandan Law Associates with a wide-ranging legal practice in the areas of Commercial Law, Corporate Law, Banking and Finance Law, Foreign Investment, Infrastructure Projects and Dispute Resolution.

In addition to his legal practice, Neelakandan contributes to the legal profession as Co-Editor-in-Chief of the Bar Association Law Journal, a key platform for legal scholarship and commentary in Sri Lanka.

He hold Directorships in four other companies, On’ally Holdings PLC, Amazon Data Services Lanka Ltd., and SN Law Corporate Secretaries Ltd.

Foreign Minister Vijitha Herath has met Sinopec Vice President Liu Liangong to resolve remaining issues delaying the launch of the Chinese energy firm’s proposed $ 3.7 billion oil refinery project in Hambantota, a statement said.

A senior official told the Daily FT that the talks were positive, but the final decision was still unclear as both the Government and Sinopec were yet to make an official announcement.

The refinery, designed to process 200,000 barrels of crude oil per day, is one of the largest planned foreign investments in Sri Lanka. The statement said the Government had already resolved a ‘large number’ of issues linked to the project, while discussions focused on clearing the remaining hurdles.

Given the project’s importance to both countries, Liu requested Minister Herath’s intervention to expedite the pending matters. The visiting Sinopec team is also expected to meet officials from the Energy Ministry and the Board of Investment during their stay, the statement added.

Gold prices in the local market rose to record levels yesterday, reflecting sharp increases in global markets, local traders said.

For the first time, a pound of 22-carat gold was priced at Rs. 379,200, while 24-carat gold reached Rs. 410,000.

Traders attributed the surge to the upward movement in international gold prices, which have driven local rates to historic highs.

Hosting the Global Alliance for Banking on Values (GABV) Asia-Pacific Chapter Meeting for the first time ever, Sri Lanka opened the 2025 gathering in Colombo last Wednesday, bringing together over 20 values-based financial institutions from across the region.

This regional chapter meeting, a milestone moment for the country’s growing recognition in the global responsible banking movement, was hosted by Sarvodaya Development Finance (SDF). Centred on the theme of ‘Value-Based Banking,’ the two-day program, held on 15 and 16 October at Cinnamon Life City of Dreams, featured insightful discussions on advancing financial inclusion, promoting ethical investment, and redefining banking through community-based innovation.

As the meeting coincided with the annual GABV Board Meeting, the event was also attended by CEOs and senior leaders from across the world who discussed strategies to empower small and medium enterprises (SMEs), advance sustainable agriculture, and explore the use of artificial intelligence (AI) to strengthen values-based banking practices.

SDF Board Chairman Channa De Silva underscored the significance of holding the meeting in Sri Lanka at a time of national recovery. ‘Over the last five years, we had four years of negative growth, ranging from 2.3 to 7.8%. Last year, we recorded a 5% positive growth. So it is very important for the banking sector and the country to give bankers of the world a different perspective of Sri Lanka.’

He added that Sri Lanka’s growing focus on sustainable finance was beginning to attract investor confidence, explaining that Sarvodaya Development Finance had issued Sri Lanka’s first sustainable rate-linked bond in the stock market the week before. ‘It was snapped up within hours on the first day itself,’ he said, highlighting the market’s appetite for impact-driven finance.

This year’s meeting was designed as an immersive, collaborative exchange where participants could engage with industry peers, policymakers, and civil society leaders. Delegates included GABV board members, international CEOs, and senior representatives from leading financial institutions such as Sunrise Banks (USA), Southern Bancorp (USA), Qudos Bank (Australia) EkoBanken (Sweden), Centenary Bank (Uganda), Bank Muamalat (Malaysia), BRAC Bank (Bangladesh) and banks from India, Nepal, Afghanistan, Tajikistan, Papua New Guinea and, Kyrgyzstan.

Welcoming the delegates to the discussion, Sarvodaya Development Finance CEO Nilantha Jayanetti said, ‘The conversations we will lead here, from sustainable lending and SME empowerment to values-driven innovation, are directly aligned with our national journey toward recovery and resilience. As a nation and as an institution, we believe finance must rediscover its moral compass to serve people, planet, and prosperity in equal measure.’

Beyond formal sessions, participants also took part in a Learning Journey to Moratuwa, the birthplace of the Sarvodaya Movement, to witness first-hand how community-led development principles continue to inspire the modern values-based banking movement.

The Asia-Pacific region is one of the fastest-growing chapters within the GABV network, reflecting increasing regional interest in ethical and community-focused banking models.

GABV Regional Representative for Asia-Pacific and Nepali senior banking leader Upendra Poudyal said that the network had grown steadily, though intentionally, over the past decade. ‘Until 2015, we had five banks from the Asia-Pacific region. Now we have 15 banks. We are not growing rapidly, but we do want to be represented in all countries. The sustainability is in the DNA of the organisation, and that is what makes it special.’

Representing the United States, Sunrise Banks USA CEO David Reiling described the GABV as a collective of the most innovative banking you can imagine in the world.

Speaking on the role of the global network, GABV Executive Director Martin Rohner, representing Switzerland, said, ‘The GABV is a very special movement. First of all, it’s a CEO level network. We try to bring the chief executives of our member institutions together to discuss issues around values-based banking. There, we learn from each other and. it is one of the very few global networks in finance that actually covers both global norms and global status.’

Founded in 2009, GABV is a global network of over 70 independent banks, credit unions, and microfinance institutions committed to using finance to deliver sustainable economic, social, and environmental development. Collectively, its members serve more than 60 million customers across 45 countries, with combined assets exceeding $ 200 billion.

The GABV Asia-Pacific Chapter Meeting 2025 spotlighted Sri Lanka’s growing contribution to the global dialogue on responsible banking, reaffirming that ethical finance is not just a movement, it is the future of sustainable growth.

With Sri Lanka’s peak tourism season commencing, passengers departing from Bandaranaike International Airport can now check in up to four hours before their flight, Airport and Aviation Services (Sri Lanka) announced yesterday.

The new measure is intended to ease congestion, improve passenger convenience, and streamline operations during peak travel periods at the country’s main international airport.

Colombo stock market maintained its rally to close the week in green with the benchmark index gaining sharply and crossing 22,500 for the first time.

Yesterday, ASPI closed 0.97% up, gaining 217.65 points to 22,633.80 and the S and P SL20 closed up 0.58%, gaining 36.39 points to 6,263.03.

Market turnover was more than Rs. 11.2 billion on over 282.6 million shares traded. Foreigners were net sellers with a net outflow of Rs. 1.4 billion.

During the week, ASPI had gained 315.08 points, up 1.4% while the S and P SL20 was up 37 points, or 0.59%. Foreigners were net sellers during the week with a net outflow of Rs. 3.1 billion.

First Capital Research said, the Colombo Bourse maintained its upward momentum throughout the day, gaining 218 points to close at 22,634.

The market witnessed a higher number of off-board transactions, while HNW activity remained strong, particularly in Banking and other blue-chip counters.

Retail participation was average compared to previous sessions, with limited interest seen in small to mid-cap shares.

CTHR, HARI, CARG, JKH, and DFCC emerged as the key positive contributors to the index.

Turnover remained robust at Rs. 11.3 billion, marking a significant 57% increase compared to the monthly average of Rs. 7.2 billion.

A share volume of 779,123 in HARI accounting for a notable stake of 40% was purchased by HAYL, contributing significantly to today’s turnover.

The Banking sector dominated activity, accounting for 29% of total turnover, while the Food, Beverage, and Diversified Financials sectors collectively contributed 38%. Meanwhile, foreign investors remained net sellers, recording a net outflow of Rs. 1.4 billion.

The Supreme Court yesterday dismissed two Fundamental Rights petitions filed by former Minister Wimal Weerawansa and others seeking to annul the Memorandum of Understanding (MoU) between Sri Lanka and India on the proposed digital identity card project.

The establishment of digital IDs is a key facet of the Government’s $ 15 billion digital economy plan.

The petitions were taken up before a three-judge bench headed by Chief Justice Preethi Padman Surasena. The court accepted preliminary objections raised by the Attorney General, who argued that the petitions were not maintainable, and subsequently dismissed them without a hearing.

Bringing together the art, science and soul of coffee, Soul Brewology has positioned itself as Sri Lanka’s first complete coffee experience studio – a place where passion for coffee meets innovation and craftsmanship. Located at Chatham Street, Colombo 01, Soul Brewology embodies a holistic approach to coffee, offering everything from premium roasted beans to world-class brewing equipment and expert barista training.

Created by Soul Coffee Group, the new studio aims to redefine the local coffee landscape by offering a complete range of coffee solutions-from specialty coffees and premium equipment to barista training and after-sales support-all under one roof.

Since its founding, Soul Coffee has tapped into Sri Lanka’s rich coffee heritage to deliver exceptional coffee experiences. Sustainably grown and ethically sourced, Soul Coffee uses only the finest local Arabica beans, roasted to perfection to capture the distinct taste of Sri Lankan coffee. The company is dedicated to delighting customers while supplying world-renowned coffee machine brands and providing professional training for its clientele.

Soul Coffee offers a total coffee solution that includes a curated selection of coffee beans and a range of commercial coffee machines from Italy and the USA. In addition to equipment, the company provides barista training, menu development, coffee consultancy, accessories, and technical support-ensuring a complete and reliable service for businesses in the coffee industry. By focusing on understanding customer needs and maintaining exceptional product quality, Soul Coffee continues to strengthen its reputation as a customer-centric brand.

The newly opened Soul Brewology studio further extends this commitment, serving as an interactive space for café owners, hoteliers and coffee enthusiasts. Visitors can explore, learn and experience every aspect of coffee-from bean to cup-through live demonstrations, expert guidance and hands-on workshops.

Soul Coffee Group Founder Rinosh Nasar said, ‘It’s not just about convenience, Soul Brewology represents the next step in Sri Lanka’s coffee evolution-a complete, end-to-end benchmark solution built on over a decade of experience crafting the country’s best coffees. We’re excited to collaborate with café owners and hoteliers to meet their coffee needs.’

At the heart of Soul Brewology lies Soul Coffee Roasters, the brand’s specialty coffee arm that celebrates Sri Lanka’s coffee heritage. The roastery offers an impressive selection of espresso and filter blends, including Monsoon Hills, Tropical Highlands and Highrise. For those seeking exclusivity, limited-edition blends such as Three Mountain and Weiragala Hills add a touch of distinction to the lineup.

Soul Brewology has also been appointed the exclusive distributor in Sri Lanka for several globally recognised coffee brands. These include Italian machine manufacturers Faema, Slayer, Casadio and Gaggia; award-winning Australian specialty coffee brand ONA, French syrup brand Giffard and MHW-3Bomber accessories-names trusted by professionals around the world.

By uniting innovation, expertise and ethical sourcing, Soul Brewology has set a new benchmark for Sri Lanka’s coffee industry. From bean to cup, it exemplifies how a homegrown brand can match international standards while staying true to its Sri Lankan roots.