Category: Daily Financial Times

Managed by Aitken Spence Hotels, the hospitality arm of Aitken Spence PLC, The Rainforest Ecolodge is entering a new chapter, placing the Sinharaja Forest Reserve, its biodiversity, and the communities living alongside it at the heart of the guest experience. This renewed direction strengthens the property’s role as the hospitality gateway to one of Sri Lanka’s most significant natural landscapes, bringing together responsible hospitality, conservation, and the spirit of discovery.

Set within the Enselwatte Tea Estate and adjoining the Sinharaja Forest Reserve, the ecolodge occupies one of Sri Lanka’s most extraordinary natural settings and holds a LEED® Platinum certification from the US Green Building Council, reflecting the principles of sustainability embedded in its design and construction. A UNESCO World Heritage Site and a Man and the Biosphere Reserve, the Sinharaja is Sri Lanka’s last viable area of primary tropical rainforest, supporting an exceptional concentration of endemic plants, birds, mammals, reptiles, amphibians, invertebrates, and aquatic life.

The relaunch positions The Rainforest Ecolodge as the hospitality gateway to this living ecosystem: a place for travellers who want to do more than simply stay near nature. It is designed for those who want to enter the forest with curiosity, understand what they encounter, immerse themselves in the rainforest, and leave with a stronger connection to the natural world and self.’

‘The Rainforest Ecolodge gives us an opportunity to bring people closer to one of Sri Lanka’s most remarkable natural treasures, while ensuring that conservation and local communities remain an integral part of that experience. I strongly believe that’s how we create meaningful travel experiences. This is very much in keeping with how we, at Aitken Spence, see the future of tourism; thoughtful, responsible, and deeply connected to place,’ commented Stasshani Jayawardena, Chairman/Chairperson – Aitken Spence Hotel Holdings PLC.

‘Our vision for The Rainforest Ecolodge is to create a deeper relationship between hospitality, conservation and discovery. The Sinharaja is an extraordinary natural asset, and our responsibility is to ensure that every guest experience contributes to a greater understanding and appreciation of this remarkable landscape, while supporting the communities that live alongside it. We want the ecolodge to be more than just a place to stay; we want it to become a meaningful gateway to understanding one of Sri Lanka’s most vital and vibrant ecosystems,’ said Susith Jayawickrama, Managing Director – Aitken Spence Hotel Holdings PLC.

The ecolodge’s approach has received recognition across sustainability and hospitality platforms. In 2026, The Rainforest Ecolodge was named Silver Winner in the ‘Nature Positive’ category at the ICRT Indian Subcontinent Awards, recognising its work in biodiversity conservation, responsible nature-based experiences, community benefit, and conservation education. It was also named Sri Lanka’s Leading Lodge 2026 at the World Travel Awards, reinforcing its position as one of the country’s most distinctive nature-led stays.

Recognised as Sri Lanka’s first officially classified ecolodge by the Sri Lanka Tourism Development Authority, the property was conceived around responsible tourism from the beginning. Its 20 chalets were created using repurposed shipping containers and other recycled materials, allowing the accommodation to sit lightly within the surrounding tea estate at the forest’s edge. Private decks, modern amenities and immersive views offer comfort without separating guests from the landscape.

Yet the true experience begins beyond the chalet.

Early mornings unfold to a chorus of birdsong, with guided birdwatching walks offering glimpses of mixed-species flocks moving through the canopy and endemic birds appearing in flashes of colour. Daytime trails introduce guests to the layered structure of the rainforest, its medicinal plants and diverse wildlife, while waterfall journeys lead through forested paths to clear streams and natural pools. Night walks reveal an entirely different ecosystem shaped by frog calls, moths, geckos, bats, and other nocturnal life.

The lodge’s location at the meeting point of dense rainforest and cultivated tea land creates a distinctive ecological transition zone, offering naturalists, photographers, and citizen scientists, opportunities to observe how wildlife moves between different habitats.

The property’s developing Nature Interpretation Centre and Online Knowledge Hub will bring together information, publications, audiovisual material, species profiles, conservation insights, and field notes related to the Sinharaja. They are intended to serve travellers, students, citizen scientists, and nature enthusiasts before, during, and after their stay, transforming the ecolodge into a growing repository of rainforest knowledge.

Future collaborations with conservation organisations, universities, naturalists, wildlife photographers, artists, wellness practitioners, and biodiversity experts, will broaden the scope and deepen the impact of this initiative. The ambition is to support citizen science efforts, observations, and acoustic indulgences, conservation storytelling and responsible access to the rainforest, while creating a facilitation platform through which experts and enthusiasts can share their findings with a wider audience.

Community remains central to this model. Local employment, naturalist-led experiences, productive community relations and engagement, rural knowledge, food traditions, and livelihoods all connect the guest experience to the surrounding region. From ‘kithul’ tapping and medicinal plant knowledge to tea cultivation and village life, the rainforest story is inseparable from the people who have lived and worked beside it for generations.

This is where regenerative tourism becomes more than an idea. Guests are invited to experience the Sinharaja with care, support local livelihoods, and understand how conservation benefits both ecosystems and communities. The aim is not simply to reduce impact, but to build a tourism model that contributes meaningfully to the long-term ecological and social health of the locality.

For the conscious explorer, The Rainforest Ecolodge offers a rare kind of escape. It is a place to disconnect from noise, reconnect with nature, pursue a lifelong interest in wildlife, or begin learning about biodiversity for the first time. It can be a retreat for birdwatchers, photographers, artists, and nature lovers, or simply a quiet space for travellers seeking stillness, fresh air, and a deeper sense of place.

The Rainforest Ecolodge is re-emerging as a conservation support and interpretation hub, a premium rainforest retreat and the hospitality gateway to one of Sri Lanka’s greatest natural treasures.

Here, adventure is guided by knowledge, hospitality is shaped by responsibility and every journey into the forest begins with a simple invitation: ‘Come and look closer.’

About Aitken Spence Hotels

Aitken Spence Hotels is the hospitality arm of Aitken Spence PLC, a leading Sri Lankan blue-chip conglomerate, with a diverse portfolio of hotels and resorts across Sri Lanka, the Maldives, Oman and India. Heritance Hotels and Resorts is the flagship brand of Aitken Spence Hotels, complemented by Adaaran Hotels and Resorts and Turyaa. Together, the brands offer a diverse range of hospitality experiences across leisure, luxury, and lifestyle destinations.

Sri Lanka must move its revenue administration from a reactive, crisis-driven model to a modern, risk-based and digitally enabled one if the tax gains that doubled revenue to 15.4% of GDP since 2021 are to endure, the International Monetary Fund (IMF) said, with the next phase of revenue mobilisation dependent on compliance, data and enforcement rather than higher tax rates.

The findings are contained in the IMF Fiscal Affairs Department’s (FAD) Revenue Administration Diagnostic, published by the Ministry of Finance, Planning and Economic Development on 30 October, 2026 in fulfilment of a structural benchmark, or reform commitment, under the Extended Fund Facility (EFF).

The report, based on a mission to Colombo from 24 June to 7 July, 2026 led by Andrew Kazora Okello, sets out the revenue administration pillar of a government-owned Medium-Term Revenue Strategy (MTRS).

The recovery from 7.3% of GDP in 2021 was led by VAT, which rose from 1.8% to 5.3% of GDP and accounted for about half the increase, while income tax rose from 1.9% to 3.5%. The IMF said, however, that the gains were made from a weak institutional base and against still-large compliance gaps, with risk-based methods emerging across the Inland Revenue Department (IRD), Sri Lanka Customs (SLC) and Sri Lanka Excise (SLE) but not yet consistently embedded in daily operations.

‘In Sri Lanka’s case, the MTRS should be seen less as a vehicle for short-term tightening and more as a platform for locking in recent gains, updating the legal framework needed for modern administration, and moving from a reactive post-crisis model toward a more modern and trusted revenue system,’ the report said. With the easier policy gains largely realised, the IMF said the strategy should not rely mainly on further statutory rate increases.

The data point to a deeper problem than late filing. In VAT, on-time filing improved between 2025 and the first quarter of 2026, from 80.1% to 85.7% for large taxpayers and from 45.9% to 55.9% for non-large taxpayers, yet non-filing rose from 12.3% to 19.1% among non-large taxpayers and from 0.3% to 4% among large ones. ‘These data suggest that recent compliance efforts have improved filing timeliness more than they have reduced non-filing, underscoring the need for stronger non-filer identification and follow-up,’ the IMF said.

Income tax filing is weaker still. In 2025, non-filing reached 52.7% for corporate income tax (CIT), 45.6% for personal income tax (PIT) and 67.8% for individual income tax (IIT), with more taxpayers failing to file than filing on time in all three. The IMF traced this to weaknesses in non-filer detection, follow-up and enforcement credibility rather than the availability of electronic filing, and described Sri Lanka as a clear outlier with the weakest on-time filing across all major taxes among selected South Asian peers. ‘Sri Lanka’s results suggest that a large proportion of registered taxpayers are either failing to meet their filing obligations on time or have become inactive while remaining on the taxpayer register,’ the report said.

That makes register cleanup central. VAT and CIT register cleanup is on track to meet the July 2026 structural benchmark, but IIT register cleansing can proceed only once adequate server capacity is available, given the volume of records involved.

The weakness extends to employer withholding. Of 47,662 employers required to file for 2025/26, on-time filing was 81% among those managed by the Large Taxpayer Office, but 38% among about 14,000 medium corporate taxpayers and 13% among some 27,600 employers managed by regional and metropolitan offices, which the IMF said reduces the IRD’s ability to detect under-withholding or non-remittance.

At the heart of the overhaul is compliance risk management (CRM), the practice of using data to direct audit, enforcement and service resources to the highest risks. VAT compliance improvement plans are in place, but risk registers, third-party data and analytics are not used consistently across tax types, the IMF said. ‘As a result, risk analysis does not yet consistently determine who is contacted, audited, assisted, or enforced against.’ Penalties, though available in law, are not applied consistently.

The same gap shows in arrears. Tax defaults stood at about Rs. 2.1 trillion as at 31 December, 2025, compared with about Rs. 1.1 trillion in 2024, with about Rs. 1.6 trillion in dispute. ‘For debts not in dispute, continued aging points to staffing constraints, weak prioritization, and the absence of a risk-based framework to distinguish collectible debts from low-value, disputed, low-probability, or administratively uneconomic cases,’ the report said. The IRD cannot write off bad debts without submission to the Ministry of Finance.

Systems are the most immediate risk. The maintenance contract for the Revenue Administration Management Information System (RAMIS), the IRD’s core platform for registration, filing, payment, arrears, audit, refunds and taxpayer services, expires on 31 January, 2027, and the planned transition to a Sri Lanka-based support model has not begun. Foundational actions under the IRD’s IT Strategic Plan for 2025-2027, including data warehouse procurement and defining RAMIS 3.0 requirements, have also not progressed as envisaged. ‘Any interruption in vendor support, system maintenance, or operational troubleshooting could disrupt essential tax administration processes and put recent revenue gains at risk,’ the IMF warned.

Administrative readiness should also set the pace of policy. Before lowering VAT thresholds or bringing materially more taxpayers into the system, the IRD should substantially improve register quality, digital filing and payment, taxpayer service and refund risk management, the IMF said.

If sustained, the overhaul could pay off. The IMF estimated that lifting Sri Lanka’s score on the Operational Strength Index (OSI), a measure of revenue administration capability, from 0.39 to 0.55 over five years could generate additional internal revenue of about 1.9 percentage points of GDP. It cautioned that the figure is illustrative, is not the MTRS revenue objective, excludes Customs, Excise and tax policy measures, and should not be treated as revenue additional to the baseline without further analysis.

Over the longer term, the report recommended considering a modern tax procedures code covering registration through to appeals and taxpayer rights, but cautioned against reaching for structural fixes first. ‘Options such as a revenue authority model, or other forms of closer structural integration, may merit consideration, but they should follow, and not substitute for, the operational, legal, and institutional foundations needed to make such reforms effective,’ it said.

The IMF identified loss of momentum once the immediate crisis context fades as the principal implementation risk, and called for credible early wins, including cleaner taxpayer data, stronger filing and payment controls and more predictable treatment of compliant taxpayers, to sustain support for reform.

Sri Lanka Tourism Promotion Bureau (SLTPB) Chairman Buddhika Hewawasam has resigned following the completion of his two-year term, leaving the tourism promotion agency without an officially appointed successor or Acting Chairman as of yesterday.

Industry sources said Hewawasam’s final day in office was 30 October 2026, with no formal announcement on a replacement made by the time of reporting.

The Daily FT attempted to contact Hewawasam for comment, but he could not be reached.

His resignation comes as Sri Lanka Tourism rolls out its long-awaited interim, market-specific promotional campaigns to maintain the destination’s visibility in key international markets ahead of the winter travel season. These initiatives are expected to bridge the gap until the planned Rs. 3.5 billion global destination branding campaign, targeted for early 2027 (https://www.ft.lk/top-story/Rs-1-5-b-interim-tourism-campaign-kicks-off-ahead-of-global-brand-push/26-796239).

Hewawasam had earlier resigned as Chairman of the Sri Lanka Tourism Development Authority (SLTDA) on 17 August, citing personal and professional reasons (https://www.ft.lk/front-page/Hewawasam-resigns-as-SLTDA-Chairman/44-796136). Tourism Minister Vijitha Herath subsequently appointed Suranjith Wevita as the new SLTDA Chairman.

In October 2024, the Government introduced a dual-chairmanship arrangement under which Hewawasam headed both the SLTDA and SLTPB (https://www.ft.lk/front-page/Sri-Lanka-Tourism-gets-professionals-as-new-heads/44-767651).

Before joining Sri Lanka Tourism, Hewawasam was an aviation and travel industry professional and served as Sri Lanka Manager of the International Air Transport Association (IATA).

The Volkswagen Beetle Owners’ Club held its 30th Annual General Meeting on 10 October at the Excel World, Colombo.

This year’s meeting was well represented by the club membership, and the President Peter Jasinghe called the meeting to order. A moment of silence was kept in memory of Dr. Vernon Jayaweera who passed away a few months ago and the adoption of the previous year’s AGM Minutes, along with the Annual Report and Audited Statement of Accounts was presented and unanimously approved by the members present.

The President informed the house of a Resolution that has been put forward requesting the amendment of the name of the Club to be changed from the Volkswagen Beetle Owners’ Club to the ‘Volkswagen Club of Sri Lanka’ with effect from the date of adoption that was put forward to the house for approval. The key factor that brought forward the above resolution was that the club had over time, expanded its membership and activities to include owners, enthusiast and supporters of Volkswagen vehicles beyond the Volkswagen Beetle and considered it desirable and as such to necessitate a broader and more inclusive name that appropriately reflected the clubs present membership, objectives and activities.

The President informed the house that the club having received the resolution had obtained legal advice of the amendment and had received a ‘no objection’ in carrying out the same and the Resolution was put forward to the house and was adopted unanimously approved by all present with a show of hands and henceforth, the club would carry out its activities under the name of the ‘Volkswagen Club of Sri Lanka’ and the official logo of the Club was placed on display with an applause by all present.

The outgoing President thanked the members for their support and camaraderie towards the activities of the club and did mention that having gone through a thirty-year journey, the club had evolved which constituted the change of the name to create inclusivity of all Volkswagen vehicles on local soil.

Kapila Jayawardena was appointed Pro-Tem Chairman by the house, who took over the helm pending the election of office bearers for the year 2026/27, and the following were appointed to serve in the committee of the Volkswagen Club of Sri Lanka for the year 2026/27 which was unanimously approved by a show of hands by all present.

Patron – Kapila Jayawardena

Hony. President – Peter Jasinghe

Vice Presidents – Ruwan PunchihewaRuwan Weerawardana

Secretary – Amanda Gooneratne

Asst. Secretary – Jaliya Jayasekera

Treasurer – Lasath Pathirennehe

Asst. Treasurer – Janakan Selvaratnam

Executive Committee – David Jansze, Kumar Samarasinghe (Technical Adviser), Shehan Samarasinha (Social Media and Communications), and Sevinda Perera (Club Events)

The newly appointed President thanked the membership for the commitment shared in ensuring of the well-being of the Club which was followed by points of discussion out forward by the members under the agenda of ‘Any Other business’ whereby many areas of concerns with regard to the sourcing of spares and services were discussed and it was noted in true ‘Peoples Car’ spirit how the members helped one-another by sourcing hard to find spares etc which was the very underpinnings of the club.

Ruwan Punchihewa conveyed the vote of thanks where he extended his sincere thanks to the Excel World for providing the excellent facilities to hold the AGM, and to Hony. Patron for his guidance and support towards the well-being of the Club and for hosting all the meetings of the Club. He Thanked the Sponsors of our events without whom the club would not have functioned and achieved the many accolades of success with a special mention of the LOLC Group of Companies for their outstanding commitment to support the activities of the Club. To the hotels, namely the Hilton Colombo, for their annual sponsorship of the start of Pride of Ownership Drive which has carried on for many decades, the Browns Group of Hotels for their kind sponsorship of events and offering their facilities to the very best and the Mount Lavinia Hotel, who have come forward to host the Annual World Volkswagen Day Celebrations for many years and to all others who have immensely assisted the club in numerous ways that has resulted in the success of the humble little club that was formed by 8 members over thirty years ago.

He thanked the tireless efforts of the committee who take on the responsibilities in keeping the activities online despite the many hurdles and thanked the members for their commitment in upholding the activities of the club despite the many hurdles of fuel restrictions and ensure to participate at all events organised by the club which called the meeting to a close with followed by the usual fellowship and refreshments that followed at the venue.

A six wicket haul by Menura Niroshana helped newcomers Green Miracle Grand Ltd., annihilate HNB Insurance Group by nine wickets in a group A match of the 7th CBL Munchee Challengers League played at the FTZ ground on Sunday.

Fielding first, Green Miracle Grand’s bowlers led by Menura Niroshana and Tharusha Navodya shared eight wickets to restrict HNB Insurance Group to 55 runs in 27 overs. Chasing 56 to win, Green Miracle Grand powered by a 19 ball 25 from Kavindu Perera clinched the win in the eighth over with nine wickets in hand.

HNB Insurance Group 55/10 in 27 overs (Dasis Manchanayake 14; Menura Niroshana 6-19, Tharusha Navodya 2-15)

Green Miracle Grand 56/1 in 7.5 overs (Kavindu Perera 25; Tariq Naziar 1-11)

Cross River, a global financial infrastructure platform founded by fintech pioneer Gilles Gade, has brought its global expansion efforts to Sri Lanka, with EVP and Chief AI Officer Pravesh Rijal visiting Colombo recently.

Rijal’s visit, facilitated by Hatch, one of Sri Lanka’s leading startup and innovation hubs, and its founder Jeevan Gnanam, included meetings with senior executives from several of the country’s major banks, the Fintech Forum, the Central Bank of Sri Lanka, and the Presidential Secretariat. Discussions focused on enabling faster cross-border payments, expanding access to modern financial infrastructure for Sri Lankan businesses, and exploring how artificial intelligence is reshaping the movement of money and the future of financial services.

The visit marks a significant step in exploring opportunities to connect Sri Lanka’s financial ecosystem with global payment networks and next-generation financial technology. Cross River’s strategy centres on building regulated US dollar infrastructure that banks, fintech companies, and businesses worldwide can access to support international transactions and financial innovation. By connecting payment networks across currencies and markets, the platform aims to reduce friction in cross-border transactions while working alongside local financial institutions rather than replacing them.

Cross River already powers some of the world’s leading technology and fintech companies, including Stripe, X Money, Coinbase, Affirm, and Upgrade. The company pioneered embedded finance through a technology platform built on its own real-time banking core. Today, Cross River operates at the intersection of banking, fintech, artificial intelligence, and agentic commerce, as it continues to expand its global reach.

Hatch plays a central role in strengthening Sri Lanka’s startup ecosystem by connecting entrepreneurs with corporates, investors, development partners, and international markets. Through its incubation and acceleration programs, corporate innovation partnerships, and investment-readiness initiatives, Hatch supports startups in validating business models, accessing markets, attracting investment, scaling their solutions and continues to build pathways for Sri Lankan innovation to connect with global opportunities. Its role in facilitating Cross River’s visit reflects this broader mission of bringing international expertise, capital, and technology partnerships into Sri Lanka’s financial and innovation ecosystem.

The engagement opens the door for further dialogue on how global financial infrastructure can support Sri Lanka’s evolving digital economy, including opportunities for fintech innovation, cross-border commerce, and collaboration between international financial technology providers and local institutions.

As Cross River continues to expand into new markets, Sri Lanka presents an opportunity to explore how established financial infrastructure and emerging local innovation can work together to create more connected, accessible, and efficient financial services.

The Sri Lanka Export Development Board (EDB), in collaboration with the Sri Lanka High Commission in the United Kingdom, conducted a two-day business outreach program in London on 21 and 22 October 2026 to promote Sri Lanka Expo 2027 and encourage greater participation by UK businesses.

The move featured a Business and Investment Forum and networking session on 21 October, followed by bilateral business meetings on 22 October. Around 140 participants, including British buyers, investors, representatives of chambers of commerce, business associations and trade promotion organisations, attended the forum to explore commercial partnerships and strengthen trade and investment ties between the two countries.

The initiative aimed to expand market opportunities for Sri Lankan exports, promote the country as a reliable sourcing destination and showcase investment prospects across key sectors. Sri Lanka Expo 2027 is scheduled to take place from 14-17 January 2027.

The Sri Lankan delegation was led by Trade, Commerce, Food Security and Cooperative Development Minister Wasantha Samarasinghe. Other members included Industry and Entrepreneurship Development Ministry Secretary Thilaka Jayasundara, EDB Chairman and Chief Executive Officer Mangala Wijesinghe, and the Board of Investment of Sri Lanka (BOI) Executive Director.

Addressing the forum, Minister Samarasinghe highlighted Sri Lanka’s economic recovery, noting that the economy recorded growth of 5% in both 2024 and 2025.

He attributed the progress to the resilience of the Sri Lankan people, the determination of the business community and advances made under the country’s economic reform program. He also emphasised the Government’s continued efforts to improve the regulatory environment, streamline procedures, strengthen institutional coordination, and enhance transparency and efficiency in public service delivery.

Industry and Entrepreneurship Development Ministry Secretary Jayasundara, outlined the progress made in restoring economic stability and strengthening investor confidence. She noted that Sri Lanka recorded economic growth of 5%, while the industrial sector expanded by 7.8% in 2025. She also highlighted improvements in the country’s fiscal position, including a Budget deficit equivalent to 2.3% of gross domestic product (GDP) and a declining debt ratio.

Jayasundara further stated that foreign direct investment (FDI) exceeded $ 1 billion in 2025, representing an increase of 72%. These developments, she noted, demonstrated the opportunities available to investors seeking to establish or expand their presence in Sri Lanka.

Delivering the welcome address, High Commissioner of Sri Lanka to the UK Senadheera, highlighted the longstanding trade relationship between the two countries. He also drew attention to the opportunities available to Sri Lankan exporters under the UK’s Developing Countries Trading Scheme (DCTS), which provides preferential market access for eligible exports.

EDB Chairman Wijesinghe, outlined Sri Lanka’s export potential in the UK market, highlighting the strengths of the country’s products and services across key sectors. He emphasised Sri Lanka’s competitiveness as a sourcing destination, supported by sustainable manufacturing practices, authentic products and compliance with international quality standards.

He also delivered a detailed presentation on Sri Lanka Expo 2027, describing the event as an important platform for international buyers and investors to engage directly with Sri Lankan businesses across a wide range of sectors. He invited UK-based companies to participate in the Expo and explore sourcing, investment and partnership opportunities with Sri Lankan enterprises committed to international quality and sustainability standards.

A panel discussion on trade opportunities featured Industry and Entrepreneurship Development Ministry Secretary Jayasundara, EDB Chairman Wijesinghe and Marks and Spencer (M and S) Head of Finance Head of Finance Suraj Wijendra. The discussion explored Sri Lanka’s potential as a responsible sourcing destination, its strategic advantages and opportunities to expand bilateral trade. Panellists also highlighted the Expo’s value for UK buyers seeking reliable suppliers and new business partnerships.

Industry and Entrepreneurship Development Ministry Secretary, Aistra Co-Founder and Managing Partner Eric Selvadurai, and the BOI Executive Director participated in a separate panel discussion examining investment opportunities in Sri Lanka. The discussion focused on Sri Lanka’s investment climate, emerging sectoral opportunities and potential for international collaboration. Participants were encouraged to attend the investment forum planned as part of Sri Lanka Expo 2027 to engage with Sri Lankan institutions and businesses.

Delivering the vote of thanks, Sri Lanka High Commission in the UK Minister (Commercial) and Coordinator of the Promotional Program P. Jayakody, invited the 140 participants at the Business and Investment Forum, including existing and prospective buyers, investors and representatives of business associations, to attend Sri Lanka Expo 2027.

Scheduled for 14-17 January 2027, Sri Lanka Expo 2027 is expected to provide a platform for Sri Lankan exporters, manufacturers, service providers and investment promotion agencies to connect with international markets and expand business opportunities.

The Colombo Permanent High Court Trial-at-Bar has fixed the Central Bank Bond case against former Central Bank Governor Arjuna Mahendran and several co-accused for a pre-trial conference on 28 January, 2027.

The three-judge bench, presided over by Judge Priyantha Liyanage, made the order when the case was taken up yesterday. Perpetual Treasuries Ltd., (PTL) Directors Arjun Aloysius, Geoffrey Aloysius and Kasun Palisena, former Central Bank Deputy Governor P. Samarasiri, Muthuraja Surendran, Chitta Ranjan Hulugalle and P. Gunawardena appeared in court. The court continues to proceed with the trial in the absence of Mahendran and Ajahn Punchihewa.

Responding to defence submissions on missing case documents, the bench directed Senior State Counsel Oswald Perera, appearing for the Attorney General, to ensure the outstanding documents are handed over to the defence before the next date. The Attorney General has indicted the accused under the Offences Against Public Property Act over an alleged loss of Rs. 688 million to the Government in the Central Bank Bond auction of 27 February, 2015.

The SLT-MOBITEL Enterprise has unveiled SASE 361, a next-generation Secure Access Service Edge (SASE) service powered by Versa Networks.

The launch of SASE 361, held at Cinnamon Life, Colombo, recently, convened enterprise leaders, technology experts, customers, and partners keen to explore the future of cloud-native networking and cybersecurity. Attendees witnessed how SASE 361 is set to reinvent the future of enterprise IT, enabling organisations to embrace a more secure, agile, and digitally connected future.

The service endorses SLT-MOBITEL’s role as Sri Lanka’s trusted digital enabler, pairing global expertise with local delivery to help enterprises advance their digital transformation securely, efficiently, and with confidence.

The unveiling of SASE 361 establishes a strategic leap in supporting businesses to thrive in a rapidly evolving digital environment, aligning with the country’s vision for innovation, competitiveness, and sustainable growth.

Secure Access Service Edge (SASE) is a cloud-native framework unifying networking and security into a single service, helping organisations simplify infrastructure, protect data, and provide secure access for users, devices, and locations. Instead of relying on traditional, centralised data center security, SASE delivers connectivity and protection at the network edge, closer to where work happens.

The SASE 361 service is built on the concept of three core pillars of Network, Security, and Access, six integrated security services (NGFW, SWG, CASB, ZTNA, DLP, ATP), and one unified platform, delivering a simplified yet comprehensive approach to secure digital transformation. Seamlessly integrating networking and security into a unified, cloud-native platform, SASE 361 empowers enterprises to embrace agility, resilience, and confidence in the digital era.

The service offers secure connectivity, cloud-delivered security, and simplified network management, redefining enterprise networking and security in Sri Lanka. With real-time visibility, advanced threat protection, and streamlined operations, SASE 361 enables businesses to protect critical data, enhance performance for distributed workforces, and reduce complexity, consolidating multiple functions into one platform.

The strategic partnership with Versa Networks, a global leader in SASE, and Connex Information Technologies, the value-added local distribution partner, further strengthens SLT-MOBITEL Enterprise’s ability to deliver world-class solutions backed through trusted local expertise. Together, these collaborations help Sri Lankan enterprises gain access to proven global technology tailored to local needs.

Kimi Antonelli has become Formula One’s youngest world champion at 20 years and 68 days old with his third-place finish for Mercedes at the Mexico City Grand Prix.

The first Italian champion since 1953 sobbed with joy over the team radio as he took the chequered flag at the high-altitude Autodromo Hermanos Rodriguez on Sunday.

Red Bull’s Max Verstappen won the red-flagged, restarted race for his second win of the season, but Antonelli’s overall lead reached an unassailable 119 points after finishing third.

Ferrari’s Lewis Hamilton started from pole position and took a close second place – after clashing with teammate Charles Leclerc – on an afternoon of drama, with two safety cars, multiple crashes and an agonising 33-minute halt with 25 of the 71 laps remaining.

‘Get in there, Kimi. Champion of the world,’ said his race engineer Peter Bonnington, a regular target for the young driver’s practical jokes.

‘We did it. Thank you so much,’ gasped the Italian, whose parents and sister were there to embrace him when he stepped out of the car. He was then mobbed by his pit crew.

The previous youngest champion was Germany’s Sebastian Vettel, who took the first of his four with Red Bull at 23 years and 134 days old in 2010.

The last Italian champion was Alberto Ascari, 73 years earlier. ‘On the last lap, I just backed off, because I just couldn’t see the track. I was getting emotional,’ Antonelli told a later news conference. ‘So it was just good to bring it home.’

Leclerc finished fourth, McLaren’s outgoing champion Lando Norris fifth, and Antonelli’s teammate George Russell only sixth in a race he had to win to have any chance of staying in contention.

That also meant that Verstappen went second in the overall standings, with Hamilton third and preseason favourite Russell plummeting to fourth, 130 points behind Antonelli.

Mercedes have 630 points in the constructors’ standings to Ferrari’s 504 and could clinch that title in Brazil next weekend.

The race was stopped after a brief safety car deployment on lap 46 of 71 after Valtteri Bottas suffered a high-speed front-left suspension failure down the straight, with his Cadillac pitching uncontrollably into the barriers at turn one.

Bottas received medical attention in the car, but then walked to an ambulance, giving a thumbs-up, as the rest of the field returned to the pits. He went to the medical centre and was released.

Verstappen led from the restart, challenged by Hamilton, with Antonelli passing Leclerc. There was then another safety car when Lindblad and Piastri collided, with the field released to race again with nine laps to the chequered flag.

Hamilton had led away from the original pole position for the 105th time in his career, but the first for Ferrari at a full Grand Prix, with Leclerc slotting in behind from third on the grid.

The British driver held him off as they went side by side through the opening corners, but Leclerc cut turn four and went across the grass as they battled for the lead, with Verstappen then taking second from Hamilton as the Ferrari looped wide.

‘Pushed out by own teammate,’ Hamilton said over the radio.

The stewards handed Leclerc a five-second penalty, but that did little for Hamilton, who remained behind his teammate after their respective stops on laps 28 and 29, with the Monegasque taking his penalty.

Russell, who had lined up on the front row, made a poor start and dropped to fifth. He also collided with Hadjar, punting the Red Bull off, and the stewards handed him a 10-second penalty.