Lanka Realty Investments appoints new Chairman

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.

Talks with Sinopec on $ 3.7 b H’tota refinery ‘positive’

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 hit record highs amid global surge

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.

SL hosts its first GABV Asia-Pacific Chapter Meeting

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.

BIA allows early check-in to ease congestion

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.

CSE ends week on high note, sets new benchmark

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.

SC dismisses petitions against Indo-Lanka digital ID deal

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.

Soul Brewology: Redefining Sri Lanka’s coffee experience

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.

COPE finds Rs. 15 b loss at Lanka Sathosa over rice imports

The Parliament Secretariat yesterday said that the Committee on Public Enterprises (COPE) found Lanka Sathosa had suffered a loss of Rs. 15.15 billion from irregular rice imports in 2014 and 2015, conducted in violation of procurement procedures.

The finding was made during a COPE meeting this week which examined the Auditor General’s reports for 2021 and 2022 and the current performance of the state enterprise. According to COPE, Sathosa incurred a cost of Rs. 27 billion on rice imports during the period, while sales revenue reached only Rs. 11.85 billion, resulting in the multibillion-rupee loss.

Committee members questioned whether a formal inquiry had been conducted into the matter. Officials said the Criminal Investigation Department had referred the case to the Attorney General’s Department to consider filing charges.

COPE also found that the company had yet to recover dues from 18 building owners who failed to complete construction projects properly. Despite instructions that advance payments should not be made for undeveloped land, Rs. 34.2 million had been disbursed for 29 contracts without proper estimates, and cases have been filed to recover Rs. 27.4 million.

The committee further noted that Lanka Sathosa had hired key staff on a contractual basis, leading to frequent turnover and weakening accountability. Officials said steps were being taken to extend employment terms to five years to address this issue.

COPE also raised concerns about allowances paid without Treasury approval and shortcomings in the expansion of the company’s enterprise resource planning (ERP) system, which had incurred high costs but failed to meet operational needs.

How trees compare to humans in life values – Part 1

Trees. What are they? Are they mere inanimate produce of soil that man can control – birthing and killing according to monetary benefit – by planting and decapitating them at appropriate time – when they have grown to an extent sufficient to fund man his need, want or greed? If we are answering this question from the point of commercial forests, the answer is yes. These are forests that man creates for lucrative benefits where nurturing the trees are only for the sake of what they would eventually provide him – their lives.

While it can be argued that commercial forestry has its need, we in this piece of writing are going to focus on life of trees as they are lived in, within the sphere of their own autonomy and freedom. They are born as decided by them, mature, grow into love and regeneration at their own pace and bring up their ‘children,’ beautiful green babies, according to their own protocol. Man, his assumed superiority, (his delusions about knowing everything), his infant modern science and his preoccupation with merchandising everything in this planet do not contaminate the happiness of these trees.

The information provided in this article is based on the book – ‘The Hidden Life of Trees’ and is being produced in four segments to honour the months from October to December as the national months dedicated to reading. (Alongside, for the next few weeks we will feature knowledge from several books falling into the categories of nature, sustainability and comparative spirituality. This series is curated and facilitated by Sri Lankan writer and developer of integrated knowledge training, Frances Bulathsinghala. The books are provided through her Library of Healing where books are promoted as therapeutic agents of solace and comfort – and stimulus for genuine ‘thinking’ and ‘creating’ – from art to entrepreneurship – (not streams of texts to be jammed into the brain for the purpose of passing exams.

Note: This series is hoped also to serve as possible workshop material for national libraries in Sri Lanka. It was originally intended for a workshop that was to be carried out by an initiative the Harmony page was associated with, at the Nuwara Eliya Public Library on 19 September on invitation of the Nuwara Eliya Municipal Council and the Public Library of this district. Unfortunately, reflecting the collective national disinterest in befriending books and the wealth that they carry, the scheduled workshop had to be cancelled owing to lack of ‘readers’ of the library attending it.

The mental makeup of trees in natural forests

Let us now ‘read’ into the lives, behaviour, quirks, happiness, unhappiness, lifestyle, and family life of trees.

The Hidden Life of Trees is authored by forester, Peter Wohlleben, originally launched in German as Das geheime Leben der Baume. The Hidden Lives of Trees was first published in the English language in hardback by Greystone Books Ltd. in 2016 in Vancour, Canada. The paperback edition was published in the United Kingdom in 2017 by William Collins as an imprint of Harper Collins Publishers of London.

As per the applicable copyright regulations we are not directly quoting from the book. We will be explaining, interpreting and elaborating its essence, as relatable to the Sri Lankan context – and serving as an extended Harmony Page media intervention that is linked to promoting the understanding the psyche of rainforests.

https://www.ft.lk/harmony_page/Exploration-into-Natural-Intelligence-of-a-rainforest/10523-782595

https://www.ft.lk/harmony_page/Relevance-of-forests-for-biodiversity-education/10523-782843

The earth is a tabernacle of sacredness – an enchanted mystery. Carved into human consciousness across time through varied images of the fantastical – many human childhoods have been shaped by man’s imagination chiselled through the many winding arms of the children of the forest – trees. This is pointed out in the foreword by Tim Flannery who explains the slow and longevity based time scale of trees. He uses as an example one of the oldest trees on earth, a spruce in Sweden which is more than 9,500 years old – around 115 times longer than the average human lifetime. This attention into the time factor difference that governs the lives of trees when contrasted and compared to homo sapiens sets a foundation that helps us understand the depths of the rationale of why trees ‘behave’ in such a different way as us.

‘Behaviour’ of trees

This ‘behaviour’ of trees was over time observed by Peter Wohlleben when he was managing the Eifel mountains in Germany. In the introduction of The Hidden Lives of Trees he reveals that why he wrote the book was because he wanted to list out what the trees that he lived amidst as part of his work, taught him. Here he points out that when he wrote the German version of the book the readership response showed him the relatability of what he wrote based on one patch of earth – on the high mountains in Germany – with all other locations of natural woodlands. What he cites here resonates in the human world in a manner where we can say that all those who wear human skins – whether they be yellow, black, white or brown has one main humane construct that is the same whatever sphere of the earth they occupy.

Likewise, the author brings note to the fact that we are not the only ones engrossed in our own unique dramas. There are apparently more interesting and epic ones being played out in the tree and forest world. His familiarity with the struggles and strategies of beeches and oaks as they chart out their existence amongst the ‘natural’ masses of other tree beings is made in sharp paradox to forests planted by man for commercial gain. It is possibly like comparing free man going about his joy in what he wants to do freely, at his own comfortable pace and for the purpose of the holistic, as opposed to man held in chains and ordered to produce tasks as demanded and under specific regulations that determine how he lives and how he dies.

In tracing the psychology of natural forests, the author shows the power of the collective – of trees – when they exist together rather than as a singular presence and how undisturbed and completely naturally evolving masses of plant-life; forests, is the determining factor of the future of humans and planet. In the first chapter titled Friendships it is shown how trees are greatly philanthropic and selfless, supporting each other with nutrition from bases of roots when necessary. One stark example given is how the gnarled tree stump felled about five hundred years was kept ‘alive’ with a greenish layer – found only in chlorophyll which is stored in living trees. The conclusion that Peter arrived at is that the ‘sugar’ that living tree cells must have as food – as consumed by those around, were being shared with the ancient tree stump. This forces us to think out two other comparisons between trees and humans.

Nature based sugar is a lifeforce for humans and so it is for trees. The contrast however in assessing how the ancient tree stump was kept alive by other trees by sharing their own nutrients, is that unlike man who is obsessed by individual survival at the cost of others’ lives (as in our wars), that trees display the opposite. Trees then could be decreed as being distinctly wiser than man in recognising the importance of life and sharing lifeforce.

The author also writes how scientists in the Harz mountains in Germany vouched for this interdependence – where ‘food’ was exchanged in times of need. Kind and selfless humans behave in the same manner as we see around us – possibly to a lesser extent that trees!

However, it is emphasised that trees in planted forests do not have his empathy.

They adopt the persona of loners and are incapable of relating to each other – because their roots are damaged when planting. Thereby Peter Wohlleben notes that planted forests – most of the coniferous forests in Central Europe ‘behave more like street kids.’ This is indeed how street kids would behave – when their familial ‘roots’ are damaged due to them being ‘disconnected’ or ‘uprooted’ from what is natural and forced to be ‘planted’ elsewhere.

The language of trees

Chapter 2 of this book covers The Language of Trees.

Once again it is astonishing to know how similar we are to trees in the world of communication. No, they do not have voices – but do humans only communicate through sound? Why then would we spend enormous amounts of money on perfumes? As the book The Hidden Lives of Trees point out, trees communicate through scent just as humans do by olfactory stimulus. In another parallel to humans as we functioned with our authentic senses from ancient times it is shown by quoting scientists on how humans chose who they would like to procreate with through the instinct of the natural odour of their body. The trees as a mass are like humans ‘scent’ centric beings.

In one incredible example it shows how in the African Savanah the umbrella thorn acacias the giraffes were feeding on got so irritated with this feasting liberty that they produced toxic substance into their leaves and also ‘communicated’ to neighbouring trees not to allow an adjoining giraffe buffet by emitting a warning ‘gas.’ Similar examples are given in how many plants get miffed when some creature choose to nibble upon its tresses. It is also stated that when a caterpillar munches on a leaf that it sends out an irate electrical signal just as a human would (if say for example an insect chose our cheek as a snack spot).

The defence mechanism of trees is apparently the ability to produce different compounds that serve the need of the hour. For example, they can call out to predators that eat up insects – if these insects become a nuisance to the trees. The trees then like humans share the ability to identify who our friends and foes are! It is stated in the book that the entire animal world is wired into the communication network of the trees so that they recognise and respond to the alarm calls of trees. Those who feed on critters who attack trees enthusiastically flock to the rescue of a desperate tree, happy also to fulfil their own gluttony.

Crisscross of information systems

To describe the ‘mass communication’ of the collective, the interesting term ‘wood wide web’ is used by Peter Wohlleben. This collective includes trees, shrubs, grasses and fungi – creating a crisscross of information systems operating above and below earth. Fungi meanwhile are said to nurture their own ambitions but ‘amenable’ to conciliation. Being cut off from the fungal filigree could isolate a tree keeping it away from the latest news, the book reveals. (Just as we would, say if we flee to the moon because the arid, forestless earth is no longer inhabitable (we would miss the news that there is no earth to return to).

Meanwhile, it is explained that if trees are weakened their conversational skills deteriorate and that insects and pest seek out these health compromised trees. Just as viruses (both natural and lab created) would seek out humans with weak immunity.

Chapter 3 of the book is titled Social Security where it is shown that tree species of natural forests bond through caring and sharing – where trees synchronise their photosynthesis performance so that they are ‘equal’ in their wellness. In contrast to the survival of the fittest mode attributed to humans, the existential edicts of trees seem to be the opposite. Apparently there are many volunteer ‘tree nurses’ in the forest who cannot bear to see anyone struggling with illness. It is the sense of ‘community’ that apparently keeps their happiness intact. Trees have realised what humans have not. That divided – when one singular tree become feeble and die – that this loss is significant in the plural – that each singular loss impact the entire body of the forest.

Note – This article will be continued till the entire book is covered. Thereafter we will be formulating a summary of recommendations on how some of this information could be used for a training for children and youth on the life patterns of rainforests. We would be then sending out the training modules to the Forest Department of Sri Lanka after we publish it in this page.