Category: Daily Financial Times

SriLankan Airlines officially transitioned its operations to Terminal 1 at Velana International Airport Malé effective 17 December 2025. To commemorate the move, Maldives Airports Company Ltd. (MACL) hosted a ceremonial welcome for passengers arriving on UL101 at Terminal 1, as well as those departing from Terminal 1 on UL102.

The event was attended by Sri Lanka’s High Commissioner to the Maldives Mohamed Rizvi as Chief Guest alongside senior officials from MACL and SriLankan Airlines.

Operating three daily flights to Malé via its Colombo hub, SriLankan Airlines connects passengers to a global network of 117 destinations across 59 countries. The state-of-the-art facilities at Terminal 1 are set to enhance passenger comfort, promote seamless travel, and further support the growth of tourism to the Maldives, strengthening tourism and connectivity between the countries, the national carrier said.

Kandy Sports Club will be in action for their second consecutive home game when they take on CH and FC at the Nittawela Rugby Stadium tomorrow at 3.00 p.m.

Both teams are unbeaten after two outings, this encounter promises to be one of the highlights of the early league phase.

Kandy SC have made good start to their title defence, opening the season with a commanding 44/14 victory over Navy Sports Club before overpowering Police SC 49/17 last weekend. Despite an ordinary first-half display against Police, the champions regrouped after the short breather to run riot at Nittawela, once again underlining their strength at home.

Led by skipper Tharindu Chaturanga, Kandy will rely heavily on the experienced form of Dahan Wickremarachchi, Kavindu Perera, Srinath Sooriyabandara, Shaahid Zumri and Dinal Ekanayake. Sooriyabandara’s versatility has stood out, having shifted from fly half to fullback in the previous match to ignite Kandy’s attacking momentum. Shaahid Zumri is tipped to return to the starting line-up, further strengthening the hosts.

CH, meanwhile, arrive in Kandy with confidence after a 29/5 win over Police SC and a thrilling 34/32 victory against fancied CR and FC. Led by Janidu Dilshan with Thanuja Maduranga and Deshan Vimukthi in fine form, CH have lived up to high expectations so far with their Fijian centre, Turu Serupipille too look dangerous on attack.

Playing at home Kandy looks favoured to pull it off and continue their unbeaten run but not before going through some tough times. Gihan Yatawara will control the game. (SJ)

Havelock Sports Club firmly underlined that they are well and truly in business in the Inter-Club Rugby League 2025/26, continuing their unbeaten run with a commanding 20/5 victory over Sri Lanka Air Force Sports Club at Havelock Park yesterday.

The Park Club collected their points from the encounter, scoring three tries, one conversion and a penalty, while restricting Air Force to a solitary try.

Havies dominated the opening exchanges with cohesive, structured rugby. Their forwards controlled possession and set the tone with strong ball retention, allowing the backs to exploit space effectively. This dominance was reflected on the scoreboard as Havelock went into the short breather with a comfortable 13/0 .

Sri Lanka Air Force SC regrouped well in the second half and produced a more determined effort. The contest became closely fought, with one try apiece scored after the break. Air Force’s improved defensive organisation and competitiveness at the breakdown kept Havies from extending their lead significantly.

Despite the tighter second-half battle, Havelock managed the game smartly, maintaining discipline and territorial advantage to seal the win and extend their winning streak after three games. Tries for Havies came through Yehan Bulathsinhala, Janidu Fernando and Dilshara Kodagoda, with Samuel Maduwantha adding the conversion and a penalty. Shamika Kaushan scored for Air Force.

New data from the Department of Agriculture, compiled with FAO support, highlights the scale of flood impacts on agriculture across Sri Lanka. The maps show flood-affected areas of paddy, vegetables, and other field crops, with the most significant damage concentrated in several major agricultural districts.

These impacts threaten livelihoods, food production, and household food security, particularly for smallholder farmers. FAO is working closely with national authorities and partners to assess damages, prioritize urgent needs, and support timely recovery and rehabilitation efforts.

Data source: Department of Agriculture (as of 17 December 2025). Flood extent derived from satellite data.

Former Sri Lanka fast bowler Pramodya Wickramasinghe re-installed as chairman of cricket selectors for the second time said that it was at the request of Sri Lanka Cricket and the Minister of Sports that he undertook the role again to serve as chairman of selectors.

‘Although I didn’t expect my name to come up it was picked by the membership of Sri Lanka Cricket. When I came to know about it I said to please keep my name out because I was not interested in coming back,’ said Wickramasinghe, chairing his first press conference at Sri Lanka Cricket headquarters yesterday.

‘However Sri Lanka Cricket and the Sports Minister made a request to me to undertake the chairmanship again. It was at their request that I once again undertook the position as chairman.’

Wickramasinghe was chairman of selectors from 2021-23 but was removed from the position following Sri Lanka’s disastrous showing at the 2023 Cricket World Cup where they won only 2 out of 9 matches and were eliminated from the knockout round and, for the first time in their history, failed to qualify for an ICC event – the Champions Trophy.

‘Although I was criticized, I took the risk of bringing in young blood into the national team at the expense of seniors. A good example is Pathum Nissanka how he has risen to become Sri Lanka’s most reliable batsman. Although we lost, I saw with my own eyes the development of the team, but it would take time,’ said Wickramasinghe.

‘In the 2023 Cricket World Cup we had to fall back again on experience due to injuries to players like Wanindu (Hasaranga) and (Dushmantha) Chameera. Today we have developed into an experienced side. We must now plan how best we can use these players to win matches. When we win only we will go up in our rankings. We have given everything a player requires to perform at the highest level and our next step is to get them to perform using what has been made available to them. In T20 cricket you need young blood, not players you have to hide. If we can produce 3-4 world class players we will definitely start winning.’

‘Our short term goal is the T20 World Cup. We have to find our best 15 or 16 players who will represent us in the T20 World Cup and we have only 6 matches to do that. We will take full responsibility along with the High Performance Centre (HPC) and the national team’s support staff if the team fails to perform.’ (ST)

The Shoppes at City of Dreams Sri Lanka has just gone a level higher-literally. With the opening of the 8th floor, the lifestyle and retail destination welcomes a vibrant mix of dining, shopping and feelgood experiences that invite visitors to shop, explore and linger a little longer. From homegrown favourites to exciting popups and soontoopen concepts, the 8th floor is shaping up to be a joyful new hub above the city.

Queen Kuweni by Namal Balachandra – A refined destination for premium menswear and womenswear, luxury accessories, and signature bespoke suits, where timeless design meets Sri Lankan craftsmanship. The label presents an exclusive designer suit collection available only at The Shoppes at City of Dreams outlet, celebrating local identity through modern tailoring and meticulous detail. Complemented by a curated selection of world-leading premium fabrics, each creation reflects sophistication, precision, and individuality.

Knuckles Valley – Offers a refined range of premium Ceylon cinnamon and botanical products, sustainably grown and hand-harvested from its own plantations in Sri Lanka’s pristine highland regions. Crafted with a strong focus on purity and traceability, the collection includes Ceylon cinnamon sticks, finely ground cinnamon powder, specialty blends, wellness teas, extracts, and essential oils, each celebrated for its rich aroma, delicate sweetness, and natural wellness benefits.

Flower Park – Bright, joyful and bursting with colour, Flower Park is a celebration of blooms and creativity. From fresh floral arrangements to eye-catching displays, it adds an instant sense of cheer to the 8th floor, making it a natural stop for gifting, browsing or simply soaking in the festive vibe.

Thushara Batiks – A household name in Sri Lankan batik, Thushara Batiks showcases beautifully handcrafted designs that highlight the island’s textile heritage. Each piece reflects skilled artistry, vibrant colour and traditional techniques, reimagined for modern tastes-perfect for those who appreciate timeless fashion with cultural depth.

Chamathka Jewellers – Specialising in elegant jewellery inspired by Sri Lankan tradition, Chamthaka blends classic motifs with clean, contemporary design. The result is jewellery that feels meaningful yet effortless, offering versatile pieces suited for everyday wear as well as special moments. The brand’s silver collection blends timeless techniques with modern aesthetics, featuring thoughtfully designed pieces that highlight detail, versatility, and everyday sophistication.

Arbor – Calm, considered and nature-led, Arbor brings greenery and design together through refined plant concepts and terrarium-style creations. With a focus on bringing the outdoors in, the brand offers a serene contrast to the bustle of the city-ideal for thoughtful gifting or adding a touch of nature to everyday spaces.

Adding extra buzz to the floor are a series of popups that bring freshness and variety.

Shay Int. introduces a stylish, contemporary edge, perfect for trendseekers who love discovering something new.

Keten showcases refined craftsmanship and understated elegance, making it a lovely stop for those with an eye for detail.

TOFO introduced a collection of lifestyle lingerie and intimates including stylish bras, underwear, swimwear and loungewear designed for beautiful Sri Lankan body types and sizes.

The Spa Ceylon Island Living Store brings the essence of Sri Lanka to life through a curated pop-up experience on Level 07, showcasing island-inspired wellness, lifestyle, and gifting rooted in authentic Ceylon heritage.

Several much anticipated outlets will be opening in the coming days, expanding the 8th floor experience even further.

Look out for Basilur and Mlesna, bringing Sri Lanka’s beloved tea culture into a modern retail setting, alongside Rancrisp, which adds delicious snacks for all celebrations. And then there’s Layover, for a quick bite in between retail therapy.

Summer 67, Aroma Bliss and Mimosa promise relaxed, feel good experiences, while Tropic of Linen introduces breezy style and comfort. Exclusive Lines will also offer a curated selection of premium fragrances and beauty brands on the 7th Floor, bringing refined scents and luxury essentials to discerning shoppers.

For those focused on wellbeing Wellness Fix is also set to open soon, rounding out the floor with thoughtful, lifestyle driven concepts.

Sri Lanka yesterday crossed a key threshold in its debt restructuring program after the Official Creditor Committee (OCC) formally conveyed its non-objection to the proposed restructuring of $ 170 million in foreign bonds owed by SriLankan Airlines Treasury Secretary Dr. Harshana Suriyapperuma said.

The clearance removes a critical legal and procedural hurdle linked to Government-guaranteed debt and allows Sri Lanka to proceed with final settlement arrangements for the national carrier’s foreign liabilities.

‘As advised by the legal experts appointed by the Government, concurrence from the Official Creditor Committee was required for Sri Lanka to proceed based on the approach adopted. We are very grateful and happy to inform that the OCC has formally conveyed its position of no objection,’ Dr. Suriyapperuma said.

He said the OCC’s position reflected recognition of the difficult economic and humanitarian conditions faced by Sri Lanka and marked ‘yet another important milestone’ in the country’s restructuring efforts.

‘With this development, Sri Lanka has reached well above 90% in terms of restructured values. We are continuously engaging with other governments and stakeholders where the remaining amounts are available, in order to identify possible avenues to finalise those agreements as well,’ he added.

Sri Lanka’s debt restructuring is being carried out under the IMF-supported Extended Fund Facility following the sovereign default in 2022, with the objective of restoring debt sustainability across bilateral, multilateral and commercial obligations. The OCC, co-chaired by Japan, France and India, represents the country’s key bilateral creditors and plays a central role in ensuring comparability of treatment across creditor classes, particularly where Government guarantees are involved.

SriLankan Airlines has $ 170 million in outstanding foreign bonds backed by a State guarantee. The Treasury Secretary said the Government had consistently kept markets informed of progress, primarily through disclosures made on the Singapore Exchange, in line with restructuring commitments.

‘There are a few more steps in the process. We believe they are procedural and, with the support and blessings of all parties involved, we should be able to complete them within a short period of time,’ he said, adding that updates would continue to be shared with the market as they arise.

‘No man who is corrupt, no man who condones corruption in others, can possibly do his duty by the community’ (Teodore Roosevelt)

Ditwah has come and gone but the physical devastation, financial distress, economic dislocation and above all the mental and psychological wounds inflicted by the calamity would take years if not decades to heal. But it is at a time like this that the political credibility, personal integrity and tireless commitment of the country’s national leadership is put to its maximum test. Although it is too early to pass any final judgement there are enough signs to indicate that Sri Lanka is fortunate to have Aura Kumara Dissanayaka as its Executive President at this crucial moment. The clearest evidence to this opinion is the outpouring of financial contributions from expatriate Sri Lankans to help the Government’s recovery effort.

‘Petta thaayum pirantha pon naadum nattava vaaninum nani ciranthathuvae’ is a Tamil saying meaning that one’s mother and motherland are far better than the heavenly paradise. That more than Rs.700 million been sent so far by the expatriate community and more is being collected is testimony not only to the contributors’ love of their motherland but more significantly their unassailable confidence on AKD Presidency and NPP Government that the money sent by them would reach its intended destination rather than being partly siphoned off by politicians and their bureaucratic henchmen as happened in previous occasions. Even donations and assistance from foreign countries and international agencies could be assured of this fact. In essence, the generous contributions from expatriate Sri Lankans and others are a tribute to a corruption-free Government under AKD’s Presidency.

However, there are two important facts that should be kept in mind before passing any final judgement on the recovery efforts. One is the global and systemic origins of Ditwah and a strong possibility of its revisit, and the other is the cumulative effect of neglecting the environment variable in designing and implementing domestic development projects. These facts are reminded not to reduce the gravity of the responsibility facing the present Government but to warn against using Ditwah as a weapon in domestic political powerplay.

COP30

In an earlier publication in the Daily FT under the title ‘Natural Disasters and One-Dimensional Economies’ the point was made that there is a one-dimensional link between technological rationalism and consumerism that drive modern economies on the one hand and humanity’s pecuniary relationship with nature on the other. That they have a link with natural disasters was also delineated. For a long time, children were taught in schools that the modern scientific era was born by ‘conquering’ nature. But the question why nature should be conquered when it has already been made subservient to humans by the Creator was never posed and answered. The idea that nature should be nurtured and replenished rather than enslaved and destroyed to satisfy the ever-growing greed of humans is only of very recent origin. ‘Earth provides’ as Ghandi said ‘enough to satisfy everyman’s need, but not everyman’s greed.’ The COP30 meeting in Brazil this year representing 193 countries but boycotted by US the largest one-dimensional economy in the world, was the latest expression of an environmental awakening.

The reason why US decided to opt out of COP30 which obliged its member governments to take action to limit global warming by 2o Celsius above pre-industrial levels, and also why US previously withdrew from the Paris Agreement of 2015 became evident when Donald Trump decided on November this year to free 1.3 billion acres of coastal waters to drill for oil and gas, one of the chief contributors to global warming. Trump’s global search for oil and gas and rare earth, and even his military threats to Venezuela – a country with the largest known oil reserves – are all driven by this single objective. US pressure may also have been the reason why COP30 omitted any reference to fossil fuels in its final communique. According to the International Energy Agency coal powered energy which is another contributor to global warming has reached a record height. What all this imply is one basic fact that the onward march of one-dimensional economies is not going to be slowed or reversed. While technological rationality is devoid of humanism and while human greed fertilises consumerism nature is destined to fall victim to the rapacity of this economic order. That means natural disasters would recur with greater frequency causing widespread devastation especially in poor countries. Ditwah is certainly not going to be the last in Sri Lanka. All that the Government could do therefore is to take precautionary measures to lessen the damage by taking steps to protect the environment when designing future projects for economic and infrastructural development. Had this been done so in the past as for example in road development along the hilly regions of Central Sri Lanka the country need not have experienced so many earth-slips as happened during Ditwah.

However, recovery efforts are in full swing, and as happened during the 2005 tsunami, all communities have come together in assisting the Government in this task. But it is sickening to note that Ditwah has become a political football to political parties in Opposition which are desperately in search of scoring cheap popularity points. Immediately after the cyclone President AKD reminded the Opposition that there would be plenty of time for all parties including NPP to stand apart and do politics, but not now. This is a time he reminded that all of them should stand together in rebuilding the country. But his appeal obviously had fallen on deaf years. UNP’s leader and former President Ranil Wickremasinghe for example, who is already on trial over charges of financial misdemeanour, is accusing the Government of ignoring prior warnings about Ditwah, which he believes is ‘actionable in the Supreme Court’. Whether he would have the support of other leaders also to take the Government to court is a different matter. But it raises another worrying problem to the Government.

Warnings

Surely those warnings must have obviously been received by the meteorology department experts. They are the most qualified to act on the warnings. But what did they do with it? Did they prepare a report to the relevant cabinet minister or President AKD and recommended safety measures? There were roughly two weeks between the warnings and the cyclone. If they didn’t, why? Was their inaction an act of sabotage? One must remember that these experts were appointed by the ancient regime. Did these experts deliberately remain silent to advance the interests of their former master/s? This is a worrying problem to AKD and NPP. No Government could function successfully if it allows bureaucrats to undermine its work. AKD’s Clean Sri Lanka must also include cleaning public administration of sabotaging insiders.

2026 is foreboding to be a year of political turbulence provoked by the Opposition. What started in Nugegoda would continue in other places all because of the nagging fear amongst its party leaders that they would be called to account by the judiciary for their past misgovernance. The only alternative available to them therefore is to bringdown this Government at any cost. It is with that motive RW is even prepared to give up his UNP leadership if UNP and SJB were to unite under one umbrella. Rajapaksa cupboards have too many skeletons to be revealed. However, the mandate given to NNP in 2024 is too strong to be dismantled. AKD’s pragmatism, simplicity and sincerity are too strong an asset for the Opposition to destroy.

The European Union has allocated a total of Euro 2.35 million of financial assistance to Sri Lanka. This includes Euro 500,000 through IFRC and Euro 1.85 million through DG-European Civil Protection and Humanitarian Aid Operations (ECHO) partners, WFP and UNICEF as humanitarian assistance to Sri Lanka, in response to the impact of Tropical Cyclone Ditwah,

In addition to the above allocation, the Union Civil Protection Mechanism (UCPM), which brings together 37 participating States, all 27 EU member States, as well as Albania, Bosnia and Herzegovina, Iceland, Moldova, Montenegro, North Macedonia, Norway, Serbia, Trkiye and Ukraine, is providing in-kind assistance to Sri Lanka.

As a part of the UCPM in kind assistance being provided, Sri Lanka earlier this week received an aid shipment, with two air cargo flights arriving in Colombo from Germany, France and Luxembourg. This aid shipment included 83 tonnes of relief items such as family tents, mattresses, hygiene and kitchen kits, beds and water filters. The supplies are intended for distribution among communities most affected by the cyclone.

The arrival of the assistance was welcomed by the EU Ambassador to Sri Lanka Carmen Moreno, French Ambassador Rémi Lambert, and the German Embassy Deputy Head of Mission Sarah Hasselbarth. On behalf of the Government of Sri Lanka, the donations were received by Foreign Affairs Ministry Director General/Europe and North America Sugeeshwara Gunaratna, and Disaster Management Centre Director Chathura Liyanarachchi.

Italy has also provided a team of structural engineers to support Sri Lanka’s disaster assessment and recovery process.

Furthermore, the EU has activated its Copernicus Emergency Management Service (EMS) in rapid mapping mode, with around 30 maps produced so far.

The European Union has committed continued cooperation and support to Sri Lanka’s disaster recovery and rebuilding process, reaffirming the enduring friendship and strong partnership between Sri Lanka and the European Union.

Sri Lanka will co-host the 2026 Asian Regional Debt Management Conference at the end of May, a move approved by the Cabinet of Ministers aimed at strengthening the country’s role in regional public debt management and fostering international cooperation.

The annual conference, organised by the Asian Development Bank (ADB), brings together debt managers and financial officials from member countries to share experiences, discuss emerging challenges and explore innovative approaches in managing public debt.

The 2026 edition is scheduled over four to five days, featuring surveys and technical workshops focused on debt management operations, risk mitigation and capacity-building initiatives.

The event will see participation from distinguished representatives of ministries of finance, central banks, debt management offices, and other relevant institutions across Asia, providing a platform to exchange knowledge and promote best practices in fiscal governance.

President Anura Kumara Dissanayake, in his capacity as the Finance, Planning and Economic Development Minister, presented the proposal for Sri Lanka to co-host the conference, highlighting its strategic importance in enhancing bilateral and regional relationships with member countries and international financial institutions.