Category: Daily Financial Times

The Third Meeting of the Viet Nam-Sri Lanka Joint Sub-committee on Trade was recently convened under the Co-Chairmanship of Viet Nam Industry and Trade Deputy Minister Phan Thi Thang and Sri Lanka Trade Secretary K.A. Vimalenthirarajah.

The two sides reviewed and evaluated the implementation of the outcomes agreed upon at the Second Meeting, acknowledging the continuous improvement of bilateral trade turnover which reached $ 278.9 million in 2024 and $ 225.4 million in the first 10 months of 2025. Both sides agreed that the potential for cooperation remains substantial, especially given the complementary nature of the trade structure of the two economies.

Within the framework of the meeting, the two delegations exchanged views on a series of priority cooperation areas, including market access facilitation, textiles and garments, footwear, fisheries, trade promotion, logistics, air connectivity, and investment collaboration in construction and infrastructure development, among others.

On trade facilitation, both sides agreed to enhance technical dialogue on customs standards and non-tariff measures to help businesses reduce compliance costs and improve market access. Regarding rice trade, Viet Nam affirmed its capacity to supply stable and diversified rice varieties to Sri Lanka.

In the textile and footwear sector, Sri Lanka proposed cooperation under the EU’s GSP framework on cumulative origin; Viet Nam acknowledged this request and expressed readiness to strengthen cooperation in training, design, product development, and supply chain connectivity. In the field of fisheries, Sri Lanka noted the need for enhanced technical cooperation and increased import of raw materials, while Viet Nam suggested expanding the product list and simplifying quarantine processes.

Both sides agreed to reinforce trade promotion activities, promote linkages between VIETRADE and Sri Lanka’s Export Development Board (EDB), implement established action programs, and increase the exchange of business delegations, participation in fairs and exhibitions, and B2B interactions.

Acknowledging the strategic positions of both countries in global supply chains, the two sides agreed to consider organising the Viet Nam-Sri Lanka Logistics Business Forum in the near future. They also agreed to soon establish a direct flight route between Colombo and Ho Chi Minh City to support trade, investment and tourism.

Sri Lanka expressed interest in attracting Vietnamese investments in infrastructure, energy, ICT, electrical and electronic industries, agricultural processing, logistics, and supporting industries. The Meeting also covered cooperation in 3D printing, quality control, software-digital transformation, Ayurveda medicine, and shipbuilding-ship repair.

At the conclusion of the Meeting, Deputy Minister Phan Thi Thang and Secretary K.A. Vimalenthirarajah signed the Agreed Minutes, which will serve as a basis for future cooperation.

The Third Meeting of the Viet Nam-Sri Lanka Joint Trade Sub-committee is regarded as an important step forward, creating new momentum for economic and trade relations as Viet Nam and Sri Lanka celebrate the 55th anniversary of diplomatic relations in 2025. The two sides will work closely to effectively implement agreed-upon initiatives and support businesses of the two countries in integrating more deeply into regional and global supply chains, with a shared goal of increasing bilateral trade turnover to $ 1 billion as agreed during the visit to Viet Nam by President Anura Kumara Dissanayake.

Following the Meeting, Deputy Minister Phan Thi Thang paid a courtesy call on Sri Lanka’s Trade Minister Wasantha Samarasinghe. The two discussed a wide range of matters, including the possibility of signing a Memorandum of Understanding (MoU) on rice trade to help ensure Sri Lankan food security, and importing Vietnamese agricultural products and fruits to support Sri Lankan tourism industry.

Later the same day, the Embassy of Viet Nam in collaboration with The Ceylon Chamber of Commerce organised the ‘Viet Nam-Sri Lanka Business Forum,’ with the attendance of Viet Nam’s Ambassador Trinh Thi Tam and Ceylon Chamber Deputy Secretary General Alikie Perera. Strong participation from Sri Lankan businesses reflected the growing momentum to strengthen commercial ties between the two countries.

The program featured opening remarks by Deputy Minister Thang, and a presentation by the Vietnamese delegation highlighting priority sectors for cooperation, including trade and investment; agriculture and aquaculture; industrial collaboration; logistics; and textiles, garments, and footwear. Sri Lanka-Greater Mekong Business Council President Nimal Rathnayake and The Ceylon Chamber Chief Economist Shiran Fernando also briefed participants on some insights of Sri Lanka economy and recommendations for bilateral cooperation.

During the Q and A session, a highlight emerged in the area of coffee cooperation. While Viet Nam is known globally as a leading coffee producer, the delegation emphasised that Sri Lanka’s climate and soil conditions are highly suitable for coffee cultivation. Vietnamese enterprises expressed strong interest in exploring investment opportunities in Sri Lankan coffee plantations and sharing technical expertise.

Discussions further explored cooperation across agriculture and aquaculture, logistics, textiles and garments, machinery, broader trade and investment, and the early establishment of direct flights between the two countries.

Viet Nam currently ranks 48th among Sri Lanka’s export destinations and 17th among its import partners. In 2024, Sri Lanka’s exports to Viet Nam reached $ 40.09 million, marking a 10% increase compared to 2023, while imports from Viet Nam grew by 27% to $ 238.81 million. Key Sri Lankan exports to Viet Nam include knitted fabrics, yarn, animal feed, rubber, textiles and tea packages, whereas Viet Nam exports yarn, knitted fabric, base metal, woven fabric, telephones, electronic equipment and components, rubber to Sri Lanka.

As Sri Lanka works to regain economic momentum in the aftermath of Cyclone Ditwah, international trade missions play a vital role in strengthening confidence, reigniting investor interest, and reaffirming that the country remains open for business. As a close traditional friend, Viet Nam has always stood by Sri Lanka in difficult times, and this visit further underscored that enduring solidarity.

Multifaceted and uneven climate vulnerabilities in Sri Lanka tourism

Climate risks to Sri Lankan tourism are multifaceted and uneven, demanding tailored financial solutions that address the specific vulnerabilities of different industry segments rather than a one-size-fits-all approach.

Interconnected climate vulnerabilities in Sri Lanka tourism

The vulnerability of the tourism sector in Sri Lanka is also not monolithic and uniform. It faces compounded risks stemming from interconnected geographic, structural and economic factors that create systemic financial risks requiring coordinated intervention across all scales.

As a result, this situation underscores the need for a coordinated and inclusive risk management solution. It also demands a systemic approach against possible climate change impact to develop resilience through financial viability and long-term business development, more specifically against climate change impact affecting the operations of small local businesses besides the well-established national and international tourism business chains.

Furthermore, the impact of climate change on the tourism industry can be more severe to the industry or specific segments of it due to factors beyond geographical and weather changes.

Geographic concentration in high-risk zones

Infrastructure of Sri Lanka tourism is mainly concentrated in two vulnerable areas:

Coastal regions: Approximately 70% of tourism assets lie along the 1,600km coastline, particularly in the southwest (Colombo, Galle, Bentota). These areas face rising sea levels (projected 0.3-0.5m by 2050), accelerating beach erosion, and intensifying cyclones. The 2004 Tsunami caused $250 million in tourism losses, demonstrating catastrophic vulnerability. Over 1,000 coastal hotels, beaches and coral reefs that attract visitors are directly threatened.

Central highlands: Popular hill country destinations (Nuwara Eliya, Ella, Kandy) face increasing landslide risk from changing monsoon patterns.

The 2016-2017 landslides killed over 200 people and damaged critical tourism infrastructure including the scenic railway and access roads. Projected temperature increases of 1-2°C may alter the region’s signature cool climate and tea landscapes.

Currently, Sri Lanka is facing the worst flooding disaster in over two decades due to the climate change of the world. Estimated costs of 2025 flooding and landslides (Cyclone Ditwah)

Human toll (as of December 1, 2025):

Deaths: 334-390 (numbers still rising)

Missing: 218-370 people

Affected: nearly 1 million people across all 25 districts

Displaced: approximately 180,000 people in 1,094 Government shelters

Economic damage estimates:

1. Preliminary estimates: initial assessments exceed $500 million

2. Early Government assessment: preliminary Government estimates placed economic losses at over $800 million, with the full cost expected to rise

3.Immediate Government response: President Dissanayake announced 30 billion rupees (approximately $100 million USD) available for immediate disaster response

4.Ongoing assessment: The World Bank is conducting a Global Rapid Post-Disaster Damage Estimation (GRADE) to determine the full financial scope required for reconstruction

Infrastructure damage:

Over 15,000 homes destroyed

206 roads impassable, 10 bridges damaged

Rail network and power grid severely disrupted

Telecommunications infrastructure damaged

Sectoral impacts:

Agriculture/tea industry: Extensive damage to tea plantations (part of Sri Lanka’s $1.3-1.4 billion tea industry)

Paddy fields across Central and North-Central provinces submerged

Tourism sector significantly impacted during recovery period

Source: AI Data

This geographic concentration in hazard-prone zones creates systemic risk, amplified by structural and economic vulnerabilities. Structural and economic fragility

Beyond its physical location, the intrinsic structure of Sri Lanka tourism contains fragilities that amplify potential damage from disaster events.

Dominance of SMEs: Small and Medium-sized Enterprises (SMEs) are the backbone of the tourism industry, generating most of its employment. These SMEs are disproportionately located within the vulnerable coastal and mountainous zones, yet they possess limited financial resources to invest in essential resilience measures. They often lack the capital for structural upgrades and struggle to implement formal business continuity planning (BCP) or access affordable post-disaster finance, leaving them exceptionally exposed to operational disruptions.

Dependence on natural and cultural assets: the competitiveness of the tourism industry is inextricably linked to the health of its natural assets (e.g., coral reefs, beaches, wildlife) and the integrity of its cultural heritage (e.g., historical sites).

The degradation of these assets in coastal and mountainous regions directly threatens the viability of the SMEs that depend on them. Rising sea surface temperatures cause coral bleaching, destroying marine ecosystems vital for tourism, while coastal erosion threatens both beaches and seaside heritage sites.

The devastating impact of the 2004 Indian Ocean Tsunami serves as a stark reminder of the sector’s vulnerability. An estimated 25 percent of registered hotels in Sri Lanka were affected, a figure that significantly overlooks the impact on the many informal and unregistered establishments that constitute a large part of the tourism ecosystem, highlighting the cascading economic consequences from such kinds of disasters in future. Proactive risk financing and discretionary cost

Protecting the tourism sector from climate disasters should be seen as a necessary investment, not an optional expense. It is a basic responsibility to investors and stakeholders. Waiting until after disasters for actions is both inefficient and too expensive to continue. In other words, reacting only after disasters happen costs more and it doesn’t work long-term, but places immense burdens on public funds while making a crippling recovery. This is why pre-disaster investment strategies are powered by modern financial instruments.

The biggest problems often come after the initial disaster is over. When Sri Lanka experienced the 2004 Tsunami, the tourism industry lost approximately $ 250 million, mostly of which was not from damaged buildings, but from:

Businesses unable to operate for extended periods

Broken supply chains

Damaged reputation that frightened tourists away

Difficulty getting loans because businesses looked financially weak

The insurance problem

Most disaster losses are not covered by insurance. This ‘insurance gap’ hits small and medium businesses hardest. These are the very businesses that make up most of the tourism sector. Standard insurance policies typically do not cover things like lost income during closures, which often forces businesses to shut down permanently.

Therefore, the real damage from disasters is not just broken buildings. It is lost business, tourists who have been frightened away and no financial help to recover. Small tourism businesses suffer most because insurance rarely covers these hidden costs.

Innovative instruments for tourism resilience

Traditional financial and insurance products have proven inadequate for addressing the unique, systemic risks confronting the tourism sector. Their limitations, particularly for SMEs and in covering nature-based assets have created a necessity for a shift towards modern financial instruments designed to overcome these barriers and build systemic resilience from the ground up.

Tourism businesses, especially SMEs, face significant financial hurdles that prevent them from investing in resilience and securing adequate protection against disasters due to several reasons:

Affordability to prepare: Small tourism businesses don’t have the money upfront to protect themselves from disasters. Things like strengthening buildings, creating backup plans, or buying emergency equipment are simply too expensive.

Unwillingness of insurance organisations: Regular insurance does not work for most tourism businesses because:

Premiums are too expensive, especially in coastal and hilly areas where disasters are more likely

Policies only cover damaged property, but not lost income when businesses have to close and

Many disaster types are not covered at all.

As a result, small businesses are left vulnerable with no way to prepare and no safety net when disasters strike. However, these small tourism businesses face a dialectic problem. One is that they cannot afford to prepare for disasters and insurance does not cover what they need when disasters happen.

Potential of parametric insurance for tourism

Parametric insurance represents a groundbreaking solution that is particularly relevant for a nature-dependent tourism economy like Sri Lanka. This innovative instrument can provide rapid and targeted financing to protect the ecosystems of tourism industry.

Parametric insurance revolutionises post-disaster liquidity by basing payouts on objective, pre-defined event triggers rather than slow, subjective on-the-ground damage assessments.

This model provides a direct and powerful blueprint for protecting the vital natural assets of Sri Lanka. A similar parametric insurance facility could be developed to secure immediate post-disaster funding for the restoration of beaches, the rehabilitation of coral reefs or the repair of infrastructure in national parks, thereby underwriting the very natural capital upon which the tourism product of the country is built.

A collaborative framework for action

Realising the full benefits of innovative disaster risk financing and insurance requires a coordinated and strategic policy environment. Success depends on a collaborative effort between Government bodies, which set the regulatory framework and the private financial sector must develop and deploy the necessary products for both to work in concert to build a resilient tourism industry in Sri Lanka. Recommendations for Government bodies

Integrate tourism into national strategy: Mandate the explicit inclusion of the tourism sector’s unique vulnerabilities and financial needs within the country’s overarching national disaster risk management and climate adaptation plans. This ensures that tourism resilience is treated as a national economic security priority.

Incentivise private sector resilience: Develop and implement policy incentives to encourage risk reduction such as tax credits for structural retrofitting and preferential access to public financing for businesses with certified continuity plans or conditioning tourism operator licenses on holding adequate coverage, with a special focus on supporting SMEs.

Foster public-private partnerships (PPPs): Actively facilitate and co-invest in partnerships between the tourism industry, insurers and financial institutions. The Government can play a crucial role as a convener and enabler to pilot, de-risk and scale up innovative risk-sharing and insurance products, including parametric solutions for critical natural assets.

Recommendations for financial institutions and insurers

Develop tailored insurance products: Collaborate directly with tourism industry associations to design markets and distribute accessible and affordable insurance products. These must meet the specific needs of tourism SMEs, including comprehensive coverage for business interruption and developing bundled microinsurance products that are affordable for small-scale operators.

Pioneer innovative risk transfer mechanisms: Invest in technical expertise, data analytics and risk modelling required to develop and underwrite innovative instruments like parametric insurance. This should cover not only physical infrastructure but also natural assets, beaches and protected areas that are critical to the value proposition of the tourism industry in Sri Lanka.

Integrate climate risk into financial decisions: Systematically incorporate climate and disaster risk assessments into all lending, investment and underwriting criteria for the tourism industry. This will allow for more accurate pricing of risk and create market-based incentives for resilience-building investments by tourism businesses and reduce the financial sector’s own exposure to climate-related losses.

The continued growth and global competitiveness of Sri Lanka tourism must be contingent on its ability to proactively manage the escalating risks posed by natural disasters and climate change.

Most importantly, a reactive stance is no longer viable. A proactive and collaborative approach along with leveraging innovative disaster risk financing and insurance is not merely a defensive measure but a strategic necessity to protect livelihoods, secure economic returns and build a truly sustainable future.

Finally, this is not a choice between cost and resilience, but an investment for competitiveness, market stability and the sustainable growth of the tourism industry in Sri Lanka.

George Keyt Foundation Chairman Malaka Talwatte (right) hands over the donation to Prime Minister Dr. Harini Amarasuriya. Others (from left): George Keyt Foundation Trustee Professor Jagath Weerasinghe, Treasurer Suresh Dominic, and Trustee Abbas Esufally

The George Keyt Foundation has extended meaningful support to the Government of Sri Lanka’s disaster relief efforts following the severe devastation caused by Cyclone Ditwah.

In 2023, the Foundation undertook its first major fundraiser in recent years by issuing 30 numbered limited edition prints of Kangodi Rangi, a painting by George Keyt entrusted to the Foundation. Twenty-eight prints were acquired by donors to support charitable causes, while another was gifted to the President’s collection. Print number 1 of 30 was retained to support the Foundation’s long-term priorities.

In light of the unprecedented impact of Cyclone Ditwah and the urgent national need for disaster assistance, the trustees unanimously resolved to seek a donor for Print number 1of 30, with clear disclosure that the proceeds would be channelled directly to the Government’s disaster relief program. This appeal received an immediate response, resulting in a private donation of Rs. 3 million.

The contribution was formally handed over to Prime Minister Dr. Harini Amarasuriya for utilisation in the Government’s ongoing relief and recovery efforts.

The George Keyt Foundation is honoured to support the people of Sri Lanka at this critical moment and reaffirms its commitment to serving national needs while preserving and promoting the artistic legacy of George Keyt.

The Sri Lanka Tourism Promotion Bureau (SLTPB) took a leading role in an initiative to showcase

Sri Lanka as a premier tourist destination in France and Europe by hosting a dedicated media tour from France.

The tour coincided with the visit of celebrated French National Rugby player Serge Betsen, who was in Sri Lanka from 17-20 November, as part of a special promotional initiative organised by the Sri Lanka-France Business Council, the Ceylon Chamber of Commerce, and Asia Rugby.

During the tour, the French media team received comprehensive exposure to Serge Betsen’s engagements, including rugby training sessions, CSR initiatives, speaking engagements, and social events, providing rich content to highlight Sri Lanka’s vibrant tourism and sports culture. Their coverage played a crucial role in enhancing awareness of Sri Lanka among French audiences and positioned the country not only as a top travel destination but also as a hub for sports tourism and youth development.

In addition to event coverage, SLTPB organised a familiarisation tour for the media group, allowing them to experience Sri Lanka’s cultural, natural, and heritage attractions first-hand. The itinerary included iconic destinations such as Kandy, Galle, Sigiriya, Polonnaruwa, Habarana, and Bentota, showcasing the country’s rich diversity and hospitality. The journalists’ experiences during the tour will be widely shared, reaching millions of potential travellers in France and across Europe.

This initiative highlights the central role of SLTPB in hosting international media, leveraging high-profile personalities like Serge Betsen, and strategically promoting Sri Lanka as a vibrant and desirable tourism destination.

The recent decision of the High Court to exonerate former Central Bank Governor Ajith Nivard Cabraal in the Greek Government Bond case has again highlighted the difficulty in holding those responsible for economic crimes to account and the thin lines between corruption and ‘executive decisions.’

Last week’s ruling rested on a narrow legal interpretation. The Court was of the view that the investment in Greek Bonds, made when Greece itself was on the brink of economic collapse, constituted an Executive decision that could not be conclusively proven as corruption. Legally, that may be so. Morally and economically, however, the decision represents a profound failure to address the deeper rot that has plagued Sri Lanka’s public financial management for years.

When in 2011 Cabraal and three other senior Central Bank officials committed to these investments, warning signs were already flashing red. Greece’s debt crisis was no secret. Any prudent monetary authority would have exercised extreme caution. Yet Sri Lanka’s Central Bank proceeded otherwise, exposing public funds to unnecessary and foreseeable risk. These decisions, taken by individuals entrusted with safeguarding national economic stability, contributed to a chain of policy failures that eventually dragged the country into the economic abyss witnessed in 2022.

That said, incompetence, however disastrous, is not a criminal offence. Many of the officials appointed during that era, including Cabraal, lacked the depth of experience expected of a central banker. His background was primarily as a Chartered Accountant, not as a monetary policymaker. Poor judgment, technical inadequacy, and even breath-taking stupidity do not automatically amount to corruption in the eyes of the law. This distinction matters, and it must be acknowledged.

But stopping the conversation there, would be a grave injustice to the public.

Sri Lanka’s economic collapse was not caused by incompetence alone. Corruption, conflicts of interest, and abuse of authority played a significant role. This is where the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) must step in decisively. The mandate of such institutions is not to relegate bad policy choices, but to investigate whether crimes were committed alongside them.

Several actions during Cabraal’s tenure demand serious scrutiny. Even as Sri Lanka stood on the brink of bankruptcy in early 2022, the decision to pay $ 500 million on an International Sovereign Bond raised troubling questions about priorities, beneficiaries, and motivations, especially at a time when the country’s foreign currency reserves were barely enough to import essential items. Similarly, reports of payments made through the Central Bank to a lobbying firm in the United Kingdom cannot simply be brushed aside as routine administrative decisions. These are not matters of incompetence, they were potential indicators of misconduct that warrant transparent investigation.

Ordinary Sri Lankans bore the cost of economic collapse through inflation, shortages, job losses, and the erosion of savings, while those who presided over the disaster continue to walk free, often protected by technicalities and institutional inertia.

If figures like Cabraal emerge unscathed, without even thorough investigation into questionable dealings, it sends a clear and damaging message that there is no real accountability for those who mismanage or misuse public power at the highest levels. However, the Court decision to discharge Cabraal was subject to him transferring Rs. 1.8 billion to the CBSL’s account within three months.

Sri Lanka does not need vengeance, but it does need justice. Courts may absolve individuals of specific charges, but the responsibility of investigative bodies does not end there. To rebuild confidence in governance and prevent future collapses, the country must demonstrate that economic crimes, real crimes, not just bad decisions, will be pursued relentlessly, regardless of rank or past influence.

Dialog Finance PLC has partnered with Softlogic Life Insurance PLC to integrate a best-in-class Internet Payment Gateway (IPG) enabling clients to seamlessly settle insurance premiums through Softlogic Life’s website using Visa, Mastercard, or Amex cards.

The solution is offered through Genie Business, the business payment solutions arm of Dialog Finance, designed to deliver exceptional convenience, reliability, and scalability to Sri Lankan enterprises.

Genie Business offers the most advanced, full-featured IPG in the market, benefiting businesses of all sizes. The solution includes a Payment Link facility, enabling Softlogic Life to send secure web links to clients for quick premium collection. It also supports webhooks for real-time customer notifications, and comes with a comprehensive stack of APIs that make customisation effortless to meet any business requirement.

Additionally, the ability to offer an exclusive branded checkout page enhances marketing opportunities and strengthens client brand identity. Genie Business’s IPG is also PCI DSS certified, ensuring the highest level of global payment security. Furthermore, it comes with the capability of tokenisation, a feature that allows card credentials to be securely stored for faster repeat transactions, offering additional convenience for businesses that choose to activate it.

Softlogic Life has consistently been recognised as a top tier, tech driven Disruptive Life Insurance Company for several years, underscoring its commitment to excellence and customer trust.

Softlogic Life Insurance PLC Managing Director Iftikar Ahamed said, ‘At Softlogic Life, our focus has always been on delivering the best possible experience to our customers through smarter, seamless, faster, and simplified touchpoints. This partnership with Genie Business strengthens that commitment, enabling us to enhance customer satisfaction and deepen trust.’

Dialog Finance PLC CEO and Director Nazeem Mohamed said, ‘We are delighted to partner with Softlogic Life to deliver an industry-leading, secure and cost-effective payment solution. Genie Business continues to empower businesses with scalable fintech solutions.’

Genie Business leads the way in digital payment solutions for MSMEs and Corporates in Sri Lanka, offering Tap to Pay, Internet Payment Gateway (IPG), Dynamic Currency Conversion (DCC), Payment Links, E-Store, and QR payments. Genie Business also provides digital lending to support business growth, empowering Sri Lanka’s digital economy.

Turkish Airlines has opened its first-ever European lounge at Edinburgh Airport, aside from the world-famous one at its Istanbul hub, bringing another dimension of its renowned hospitality to travellers in Scotland.

The new lounge further elevates Edinburgh’s premium travel offering while reinforcing airport’s growing role as an international gateway.

Spanning 673 sqm and accommodating 149 guests, the lounge offers a premium experience with facilities including an open buffet featuring a Turkish pide service at lunch and dinner; a luxury relaxation area with TVs and Wi-Fi; and two prayer rooms.

The lounge also includes an accessible restroom for the guests with reduced mobility, a baby care room and flight information screens.

Trkiye’s flag carrier hosted a celebratory event at Edinburgh International Airport to mark the opening of its eighth lounge outside of Trkiye.

‘The opening of our new Turkish Airlines Lounge at Edinburgh Airport marks an important milestone for our airline. As our first abroad lounge in Europe and our eighth outside of Trkiye, this investment demonstrates our deep commitment to our European operations where we already possess a strong presence as the best airline of the continent,’ remarked its Chief Operations Officer M. Akif Konar. ‘Looking ahead, we will continue to build on our presence in the region and bringing our award-winning hospitality closer to travellers here,’ he stated.

Turkish Airlines continues to bring scaled down slices of its five-star Lounge in Istanbul to its international gateways to maintain a seamless and luxurious experience, he added.

Edinburgh International Airport Chief Commercial Officer Stephanie Wear said: ‘The opening of the new Turkish Airlines Lounge marks an exciting chapter for both us and the airline as they launch their first lounge in the Europe abroad at Edinburgh Airport.’

Located on Level 2 near gate 16, the lounge will be available to Turkish Airlines Business Class passengers, Miles and Smiles members (Elite, Elite Plus and Elite Corporate Club) travelling in any class; and holders of the carrier’s Miles and Smiles Premier Visa Signature Card issued in the US. Guests with a Paid Lounge membership card can also enter the lounge ahead of their flight.

‘It demonstrates Turkish Airlines’ commitment to the airport and to enhancing the travel experience for passengers. Open to all travellers, the lounge offers a relaxing space with fantastic runway views and some great food and beverage options whilst you wait for your flight,’ he stated.

Turkish Airlines operates 10 weekly flights between Edinburgh and Istanbul which allows travellers from Scotland to connect via Turkish Airlines’ unparalleled global network to 356 destinations in 132 countries.

Pioneering digital solutions to transform the property ownership experience, Prime Group, Sri Lanka’s leading real estate developer, has unveiled a revolutionary suite of digital tools following a comprehensive five-year digitalisation journey in procurement, construction, project management, and customer workflows to transforms how Sri Lankans embrace their property dreams.

Though standalone digital solutions are available in the market, Prime Group said its distinction lies in creating an integrated ecosystem where all innovations work seamlessly together. Such a holistic approach offers customers unprecedented convenience, transparency, and efficiency throughout their path to homeownership, from dream to reality.

Powering visionary initiatives, Prime Group is redefining accessibility, convenience, and excellence in real estate, assuring every customer can enjoy a seamless journey. Building homes using technology, Prime Group is championing a customer-first mindset in every action.

For the first time in Sri Lanka, Prime Group has launched 1322, a dedicated four-digit hotline exclusively for real estate inquiries. The customer-centric innovation provides property information, expert guidance, and support a phone call away, expanding homeownership opportunities in Sri Lanka.

In a strategic alliance that propels innovation, Prime Group became the first corporate client in Sri Lanka to embrace DFCC Bank’s API Banking platform (iConnect). The industry-first

partnership with DFCC Bank facilitates paperless vendor

payments, positioning Prime Group as a fintech pace-setter.

Eliminating manual processes and branch visits, Prime Group offers customers virtual accounts with instant reconciliation. In another industry-first, customer payments are recognised instantly, and automated receipts are sent via WhatsApp and email. The solution creates the first fully automated digital deposit and payment tracking system in Sri Lanka’s real estate sector.

The Prime Group believes property ownership deserves to be crafted to the measure the highest ideals. The Prime Edge mobile application delivers a complete real estate experience directly to the smartphone. Customers enjoy the luxury of managing their property journey digitally. They can also browse properties, track purchases, monitor payments, and even earn through referrals.

The Prime Group invites customers to step into the future of property investment with Prime Bee. The AI-powered property assistant guides customers, with both text and voice interactions. Prime Bee helps to explore options, make informed decisions, and receive personalised support instantly.

In partnership with Apartner Ltd, Prime Group introduced smart property management for 43 by the Sea Apartments, allowing residents to manage bills, maintenance, visitor access, and bookings through a dedicated app.

Prime’s in-house IT division, led by Chief Information Technology Officer Rasika Udayanga, drives these innovations through dedicated SAP and infrastructure teams. Their expertise integrates banking, ERP, and customer platforms while ensuring security and seamless stakeholder experiences.

‘Prime’s technology ecosystem is designed to transform the real estate experience from the ground up. Integrating advanced digital tools into every stage of the journey, Prime Group is delivering unmatched transparency, efficiency, and value to our customers,’ Rasika Udayanga said.

These comprehensive digital solutions address longstanding challenges in accessibility, payment processing, and customer support, positioning Prime Group as the definitive digital leader in Sri Lanka’s real estate sector setting new industry standards for transparency and operational excellence.

As the Indian Army Field Hospital team concluded its humanitarian mission in Sri Lanka and returned to India on Sunday under Operation Sagar Bandhu, appreciation was conveyed for the team’s dedicated and professional service in supporting affected communities.

Coinciding with the team’s departure, humanitarian supplies requested by the Sri Lankan authorities were delivered to the country. A total of 10 tonnes of medicines and 15 tonnes of dry rations were transported aboard an Indian Air Force C-17 Globemaster aircraft, which also carried the returning medical team. The supplies are intended to support ongoing relief efforts for communities impacted by the recent crisis following Cyclone Ditwah.

Further assistance arrived yesterday with 50 tonnes of dry rations reaching Sri Lanka aboard the Indian Coast Guard Ship Shaurya. The consignment was formally handed over by India’s Deputy High Commissioner Dr. Satyanjal Pandey to Deputy Minister of Ports and Civil Aviation Janitha Ruwan Kodithuwakku.

The completion of the medical mission and the continued delivery of relief supplies under Operation Sagar Bandhu highlight the close cooperation and longstanding friendship between Sri Lanka and India in times of need.

Sri Lanka seems to be a nation in constant crisis. From the Easter attacks, the pandemic, the economic collapse, and waves of political upheaval in more recent times to previous decades of civil conflict, the Tsunami and regular natural disasters. Each shock has arrived before the country has had time to recover from the last. Crisis feels like the new normal. So, what does it mean for a nation when constant crisis becomes a way of life?

This ‘disaster fatigue’ affects not only households and institutions, but the very social fabric and economic activity that holds the country together.

Constant interruption of economic growth

‘We can’t seem to catch a break.’

Sri Lanka’s cycle of overlapping crises directly impacts economic activity and derails any momentum gathered for growth. Disasters continue to interrupt the rhythms of work, trade, and production that keep the country afloat. This repeated disruption erodes national productivity and suppresses the very conditions needed for growth.

For Small and Medium Enterprises (SME) operating on thin margins and dependent on steady cash flow, even a short interruption can wipe out inventory, stall production, and reduce customer demand. SMEs typically lack insurance, financial reserves, or access to affordable credit, leaving them with few buffers against repeated shocks. Each crisis therefore deepens their vulnerability, making business owners increasingly cautious about reinvesting, expanding, or rehiring. As confidence weakens and risk aversion grows, the cumulative slowdown across thousands of SMEs translates directly into reduced productivity, job losses, and stalled national growth.

Prime Minister Harini Amarasuriya’s recent appeal urging tourists to ‘please come’ despite the floods underscores how deeply Sri Lanka’s economic stability now hinges on uninterrupted tourism. While the Prime Minister’s message is an important confidence-building gesture, it also reflects a broader economic reality.

Survivor’s guilt adds another invisible layer to economic recovery. Many hesitate to rebuild, reopen, or seek help, believing others have suffered more which directly translates into reduced labour participation and diminished economic activity.

Disaster fatigue

With recurring crises, there is always more than just physical and economic damage. The collective emotional impact on society should not be overlooked. Emotional distress affects motivation and reduces engagement in economic and social life. Over time, disaster fatigue becomes self-reinforcing where people instinctively conserve energy rather than innovate or take risks. The repercussions of this can be seen trickled throughout all levels of society.

Innovation and restored morale are critical after any disaster because they determine the speed and strength of a society’s recovery. When communities feel connected and supported, they are more willing to rebuild, experiment with new solutions, and invest in long-term resilience rather than merely return to survival mode.

Further, integrating Mental Health and Psychosocial Support (MHPSS) into disaster recovery is essential for Sri Lanka’s long-term wellbeing, especially given how rarely emotional health is addressed in public policy. In Sri Lanka, mental and emotional care cannot remain a specialist service in urban settings. It must become part of everyday community infrastructure, woven into the places where people already gather, learn, and seek comfort.

The glorification of ‘resilience’

In this context, ‘resilience’ has become one of the most overused words in our public vocabulary. Sri Lankans are praised for being exceptionally resilient. A population that endures crisis after crisis with grace, generosity, and an almost instinctive ability to rebuild. However, resilience born out of necessity is not the same as resilience by choice. The constant celebration of this ‘resilience’ risks normalising the very hardships people are forced to survive.

From a policy perspective, the ‘tyranny of resilience’ implies that resilience is increasingly used as a technocratic buzzword that replaces goals like justice or poverty reduction and is not inherently pro-poor. Further, it can lead to this ‘resilience fetish’ where states and agencies celebrate communities’ ability to bounce back, while leaving untouched the political and economic systems that make them vulnerable in the first place.

Compounding this is a deeply embedded handout culture, shaped over decades by welfare-heavy, quasi-socialist political ideals. While social protection is essential, Sri Lanka’s model often incentivises dependency rather than resilience. In times of crisis, communities must depend on the State and other support structures (i.e. NGOs, charities, volunteers etc.) for immediate relief instead of long-term livelihood recovery. Thus, reinforcing a cycle where economic inactivity is unintentionally rewarded.

Insurance culture and social safety nets

Promoting an insurance culture and strengthening social safety nets must become central to Sri Lanka’s long-term preparedness and disaster recovery strategy. Expanding affordable, accessible insurance products from crop and livestock insurance to SME asset protection and climate-risk coverage would help shift the burden of recovery away from ad-hoc relief and toward structured financial resilience.

Social safety nets must also evolve to become more shock-responsive, enabling rapid cash transfers and livelihood support when disasters strike so that vulnerable communities can stabilise quickly. These systems should be designed to complement, not replace, people’s own efforts to rebuild, reducing dependency while providing essential buffers. A well-designed safety net gives individuals the confidence to take risks, innovate, and invest in their work.

Planning and climate-resilient infrastructure

Climate-related disasters will only increase in frequency and intensity. As a result, in terms of disaster preparedness, Sri Lanka must prioritise strict urban planning reforms that modernises infrastructure i.e. drainage networks, flood barriers, etc., and most importantly prevent construction in high-risk areas.

Effective disaster preparedness also requires policies that offer meaningful incentives to vulnerable populations. When people feel respected and supported rather than forced out, they are more willing to make the difficult decision to leave dangerous terrain. Therefore, it is necessary to consider fair compensation, safe and affordable relocation options, legal support, and community-level planning that preserves social ties. Such measures reduce the risk to human life, lessen the financial burden of repeated disasters, and help build a safer environment for future generations.

Conclusion

For Sri Lanka, ‘disaster fatigue’ is not only a product of intensifying climate events, but of years of political upheaval, unanticipated economic shocks, and social uncertainty that leave little room for recovery between crises. Each new disruption worsens the strain on communities which are already stretched thin.

Looking ahead, policy must focus on strengthening planning systems and investing in safer infrastructure. Further, embedding emotional and economic support into everyday life must become national priorities. We must shift from reacting to crisis to anticipating them. This involves reducing the long-standing patterns of dependency by strengthening safety nets while cultivating a culture of insurance and financial protection. With thoughtful planning, Sri Lanka can step out of the cycle of shock and recovery and into a future of sustained growth and possibility.