Category: Daily Financial Times

The Export Development Board (EDB) of Sri Lanka is set to organise the country’s largest-ever Business-to-Business (B2B) pavilion at the prestigious Gulfood International Trade Fair 2026, scheduled to take place from 26-30 January 2026, in Dubai, UAE.

A special media briefing was held today at the Export Development Board (EDB), presided over by EDB Chairman Mangala Wijesinghe concurrent with the pre-fair workshop held to inform exporters participating in the exhibition. EDB officials, including Director of the Export Agriculture Division Janaka Badugama, and exporters participated in this occasion.

Spanning an impressive 510 square meters at the Dubai Exhibition Centre in Expo City, the Sri Lanka Country Pavilion will feature 61 leading export companies showcasing a diverse range of products including coconut products, processed foods, spices, tea, and ready-to-eat items.

Gulfood, recognised as one of the world’s most important food and beverage sourcing events, has consistently demonstrated its value as a premier platform for networking, innovation, and business development. The 30th edition of Gulfood reportedly generated approximately $ 20 billion in trade deals over five days, attracting over 5,500 exhibitors from 129 countries and more than 144,000 visitors who explored over one million products.

The 31st edition of Gulfood 2026 will be hosted across two venues – the Dubai World Trade Centre and the Dubai Exhibition Centre – making it the largest edition to date.

Sri Lanka’s participation in Gulfood 2026 represents a strategic initiative to expand the country’s footprint in key international markets. In 2024, Sri Lankan agricultural commodities valued at $ 1,381 million were exported to the MEASA region (Middle East, Africa, and South Asia), with food and beverage products accounting for $ 1,171.31 million of this total.

‘This event presents a strategic opportunity to showcase Sri Lanka’s premium food and beverage products to a broader audience across the Middle East, Africa, South Asia, as well as the EU and related markets. Our main objective is to increase exports to the MEASA region by $ 20-30 million by 2027,’ said EDB Chairman/Chief Executive Officer Managala Wijesinghe.

The Gulfood platform offers Sri Lankan companies an excellent opportunity to network with major industry stakeholders, capture new market opportunities, promote Sri Lankan brands, develop high-quality business contacts, and strengthen relationships with existing buyers through interactive experiences and business matchmaking programs.

The EDB’s strategic focus on the Middle East region extends beyond Gulfood, encompassing participation in other key regional events including the Organic and Natural Expo Dubai, Beauty World Dubai, Middle East Rubber and Tyre Expo, and Foodex Saudi.

With increasing global attention on the MENA (Middle East and North Africa) region from countries including the EU, Japan, China, and Africa, Sri Lanka’s strong presence at Gulfood 2026 positions the nation to capitalise on emerging trade opportunities and further strengthen its position as a reliable supplier of high-quality food and beverage products.

Canary Wharf Holdings Ltd., based in Singapore, marked a major milestone on the 27 November 2025 with the successful announcement event of Colombo Gateway One to be developed within Port City Colombo, an extension of Colombo’s existing Central Business District. The event, held at Port City Colombo’s Sales Gallery, welcomed leading corporates and high-net- worth individuals reflecting strong investor interest and enthusiasm for the project.

Canary Wharf Holdings Project Development Director Mohsen Dehghan addressed the audience, emphasising the tower’s unique blue sapphire inspired geometry. He highlighted the full specifications and features, including its 34-storey structure built to international standards, 28 floors of Grade A office space, a highly efficient 1,080 m² typical floor plate, and six dedicated parking levels with a podium.

He noted that the shape of the typical floor allows any form of internal partitioning without obstructing the panoramic marina, ocean, and skyline views. These combined features, he stated, firmly establish Colombo Gateway One as the next-generation commercial landmark of Port City Colombo’s Financial District.

Colombo Port City Economic Commission Director General Revan Wickramasuriya addressed the audience on key regulatory frameworks, providing clarity and confidence for investors in the Special Economic Zone. His remarks highlighted the progressive, investor-friendly policies that continue to position Port City Colombo as a world-class business and services hub.

KPMG Principal, Head of Advisory, and Deputy Head of Markets Shiluka Goonewardene presented an independent feasibility evaluation, reaffirming the project’s strong commercial fundamentals and long-term viability.

Floors are priced from $ 3.5

million, with an attractive projected rental yield of 7.3% with expectations of gradual uplift over time. Early interest from Authorised Persons (APs) and Businesses of Strategic Importance (BSI) highlights robust demand and the growing momentum within Port City Colombo.

The strong turnout and engagement at the announcement event reinforce Port City Colombo’s vision of establishing South Asia’s next major business and lifestyle gateway.

Early global reactions to the recent cyclone suggest that the event did not create the reputational shock many feared. While deeply distressing for affected communities, the world has largely viewed it as one of a series of increasingly common climate incidents across the region.

Recent Google Trends data-one of the clearest real-time indicators of international traveller sentiment-shows that interest in Sri Lanka has not collapsed. Instead, the market is displaying the typical 10-20 day hesitation window seen worldwide after climate-related events.

Travel interest remains resilient

Searches for ‘hotels in Sri Lanka’ held strong up to mid-November, dipped briefly after the cyclone, and then stabilised. By early December, there were even signs of a mild rebound. This indicates that travellers remain interested; they are pausing for clarity, not abandoning their plans.

Meanwhile, searches for ‘is Sri Lanka safe to travel’ rose in the immediate aftermath but have already begun to ease. Crucially, the majority of global searches relating to Sri Lanka continue to focus on holidays, not disasters.

Although the new booking pace has dropped 30-50% we have not lost demand. Travellers simply want reassurance-and they are actively looking for it online. Demand needs to convert to bookings by providing this reassurance.

A moment for strong, coordinated messaging

Sri Lanka’s tourism promotion mechanisms face well-known constraints that make rapid crisis-response communication challenging. These limitations are not unique to this moment, but they underscore the importance of ensuring that a communication vacuum does not arise at a time when global travellers are searching intensely for up-to-date information. Silence risks harming new bookings.

This is where the industry must act together. Hotels, guides, tour operators, industry associations, and regional groups can move with agility to ensure Sri Lanka’s story is communicated clearly, factually, and promptly.

A powerful example is the newly established Hill Country Tourism Bureau, which mobilised within days of the cyclone. It has produced strong content, coordinated messaging, and showcased that the Central Highlands is open for business. Such regional leadership strengthens the national

Shaping perception in the age of AI

The next frontier in tourism communication is not traditional digital advertising-it is artificial intelligence-driven search. Increasingly, travellers rely on AI tools and LLM-powered search engines for immediate answers to questions such as ‘Is Sri Lanka safe?’ or ‘Is it a good time to visit?’

These systems draw heavily from publicly available online sentiment, especially from text-rich, discussion-led platforms. To regain momentum and reverse hesitation, Sri Lanka must ensure that a clear, consistent message reaches these platforms: Sri Lanka is safe to visit, and all key tourism regions and attractions remain accessible.

Authentic, first-hand accounts from travellers currently on the island are among the most powerful tools we have. Guests who are enjoying positive, safe experiences are natural ambassadors. Encouraging them to share their stories shapes the online conversation-and, in turn, the answers AI engines provide.

Platforms with the greatest influence on AI outputs include:

Reddit – responding to discussions on ‘Sri Lanka floods’ and ‘Is Sri Lanka safe?’

X (Twitter) – using the phrase ‘Is Sri Lanka safe’ in replies

YouTube – titling videos with ‘Is Sri Lanka safe’ for maximum visibility

TripAdvisor – posting factual updates on current conditions

Facebook and Instagram – useful for social reach, though less influential in AI training

Every accurate, positive post strengthens the overall narrative. In today’s digital landscape, repetition builds authority-and that authority shapes what AI platforms present as truth.

A short window for recovery

Over the next two to three weeks, booking pace will be softer than usual. This is expected after an event of this nature. However, with effective messaging, the January-April 2026 high season still holds strong potential. The window for influencing global sentiment is open now, and the actions taken over the next 10-14 days will significantly shape the outlook.

Acting together, with confidence

Sri Lanka continues to hold the world’s interest. Travellers are watching, searching, and weighing their options. They are not turning away-they are waiting for reassurance.

What they need is simple: clear updates, accurate information, and real stories from travellers who are experiencing the island safely today.

By working together-Government, private sector, regional associations, and visitors themselves-we can ensure that the online narrative reflects the reality on the ground. If we respond with clarity, consistency, and confidence, Sri Lanka’s tourism industry can emerge from this moment stronger and more resilient.

Work in Sri Lanka (WISL), a volunteer-driven non-profit dedicated to supporting diaspora returnees, will host its flagship Work in Sri Lanka Conference on 17 December at Cinnamon Life, bringing together high-level Government advisers, industry leaders, recent returnees, and globally experienced Sri Lankans exploring a potential move back home.

Since re-launching its activities this year, WISL has hosted three successful networking events attended by more than 150 recent and prospective returnees representing the UK, US, Middle East, Europe, Singapore, and Australia.

These gatherings have sparked meaningful dialogue between global talent and the local business community and have strengthened a unique network of senior professionals, founders, and policymakers committed to supporting Sri Lanka’s ‘brain gain’ efforts.

The upcoming conference builds on this momentum by bringing both sides of this network, diaspora talent and Sri Lankan industry leadership, into one room to exchange insights, assess opportunities, and explore pathways for return, investment, and long-term contribution.

The conference will feature two key panels and a Fireside Conversation.

The Fireside Conversation, which will focus on the topic ‘Economic Outlook and Stability,’ will feature Chief Presidential Adviser on Digital Economy Dr. Hans Wijayasuriya, LYNEAR Wealth Management Chairman and former Central Bank of Sri Lanka Governor Dr. Indrajit Coomaraswamy, and LYNEAR Wealth Management Managing Director and Co-Founder Dr. Naveen Gunawardane.

The Industry Panel will focus on ‘Key Sectors Driving Sri Lanka Forward,’ and will feature WSO2 Founder, CEO and Director Dr. Sanjiva Weerawarana, Magellan Champlain Founder and CEO Sarrah Sammoon, TWC Holdings Founder, Chairman and Managing Director Thilan Wijesinghe, and Nations Trust Bank CEO Hemantha Gunetilleke.

The Returnee Panel will be centre on ‘Lessons from Recent Returnees,’ and will feature Uber Country Manager Varun Wijewardane, Acuity Knowledge Partners Associate Director Niluki Arsacularatne, and OCTAVE – John Keells Group Chief Scientist Sadeep Jayasumana.

WISL Co-Founder Nayana Samaranayake said: ‘Many Sri Lankans abroad are open to the idea of returning, investing, or contributing – but they often don’t know where to start. What they need first is clarity, honest information, and a genuine connection to people on the ground who understand the realities. Our goal is to create a space where they can access insights without conditions, meet others who have made the journey home, and feel supported in making an informed and confident decision about Sri Lanka.’

The conference will be held on 17 December from 6 p.m. onwards at Cinnamon Life, Colombo.

Hyundai took centre stage as the title sponsor of the Colombo Motorshow held at BMICH on the 21, 22, and 23 November, marking the event as one of the brand’s most significant showcases in Sri Lanka to date. This event served as a platform for Hyundai to unveil its latest innovations while prioritising sustainable mobility and highlighting the strength of its partnership with Abans Auto.

The event was attended by many dignitaries and exciting reveals, while the crowd was treated to the newest models of the brand being revealed for their perusal.

Representing Hyundai Motor India at the event was Vertical Head of Exports Hamendra Singh Tomer, whose presence underscored Hyundai’s deepening commitment to the Sri Lankan market. The event was also represented by the Abans Auto Directors Rusi Pestonjee and Chinthaka Perera, in addition to Deputy General Manager Rajitha Ranasinghe.

Hyundai Motor India made the commitment to work closely with Abans Auto, the official distributor of Hyundai vehicles since 2019, to explore a long-term, sustainable partnership that will elevate the brand’s footprint across the island.

A major highlight of the exhibition was the grand launch of the all-new Hyundai Palisade 2026, the brand’s flagship SUV. With its commanding presence and design, advanced safety suite, and comfortable interior, the 2026 Palisade represents Hyundai’s continued leadership in premium mobility.

Hyundai also revealed the first-ever full-sized 7-seater electric SUV; the Hyundai Ioniq 9, a landmark moment for Sri Lanka’s transition toward sustainable transportation. With its futuristic design, innovative battery technology, and spacious three-row configuration, the new Ioniq 9 will undoubtedly redefine the electric SUV experience for families seeking both comfort and eco-friendly performance.

Adding to the excitement was the debut of the 2026 Hyundai Venue, the brand’s next-generation sub-compact SUV. Known for its agility, versatility, and youthful energy, the new Venue brings an elevated design, and upgraded efficiency to one of Hyundai’s most popular segments.

Backed by the trusted legacy of over fifty years of the Abans Group, Hyundai and Abans Auto are poised to pave the road to a new chapter of sustainable mobility in Sri Lanka. Together, they aim to deliver world-class automotive solutions, expand electric mobility offerings, and ensure customers enjoy the excellence that Hyundai is known for globally.

With groundbreaking vehicle launches and a strengthened commitment to the Sri Lankan market, Hyundai’s presence at the Colombo Motorshow marks the beginning of an exciting future that is fuelled by sustainable innovation.

The Insurance Regulatory Commission of Sri Lanka (IRCSL), the national authority responsible for supervising, regulating, and developing the insurance industry, has announced the launch of ‘InsureChamp 2025’ – Inter-University Insurance Quiz Competition, on Thursday, 20 November 2025.

‘InsureChamp 2025′ has been introduced as a national platform that brings together bright undergraduates from state universities and recognised higher education institutions across Sri Lanka. The initiative aims to enhance awareness of insurance as a vital pillar of financial security and national resilience while encouraging learning, dialogue, and deeper understanding among future leaders. Through this competition, IRCSL seeks to inspire a new generation that values protection, stability, preparedness, and financial literacy, and recognises the important role of insurance in both personal and national development.

The much-anticipated competition was held at the Sapphire Hall, BMICH, Colombo 07, with the participation of representatives from universities, insurance companies, and IRCSL, demonstrating the collective commitment to strengthening the next generation of insurance professionals.

IRCSL Chairman Dr. Ajith Raveendra De Mel emphasised the importance of empowering future insurance leaders and commended the participation of 17 universities and higher education institutions, reflecting the growing interest of youth in the insurance sector. He highlighted that the core objective of InsureChamp 2025 is to deepen students’ understanding of insurance and its significance in financial security and national development. He also pointed out expanding career opportunities in actuarial science, risk management, data analytics, and product development fields, offering competitive prospects and strong pathways for career growth.

Dr. De Mel encouraged universities to introduce degree programs and specialised courses in insurance and reaffirmed IRCSL’s commitment to supporting academia and industry partners in developing a skilled workforce. He further noted that insurance is globally recognised as a respected profession and outlined IRCSL’s plans to advance youth-focused initiatives through enhanced university collaborations, research promotion, the inclusion of insurance content in school curricula, and expanded internship opportunities.

The event also featured a Keynote Address by the Chief Guest, University Grants Commission Vice Chairman Senior Professor K.L. Wasantha Kumara, who underscored the importance of developing undergraduate talent to strengthen the future of Sri Lanka’s insurance sector. He emphasised the pivotal role of youth in building a more financially secure and resilient nation.

The grand finale of ‘InsureChamp 2025’ concluded with remarkable achievements by the participating universities:

Champion: University of Kelaniya

First Runner-Up: University of Peradeniya

Second Runner-Up: University of Jaffna

A special highlight of the event was the presentation of the Team Elegance Award to NIBM, in recognition of their professionalism, teamwork, and exceptional presentation throughout the competition. Further, Certificates of Participation were presented to all participants in recognition of their engagement in the event.

Through their participation, students not only brought pride to their universities but also contributed to a national effort to build an insurance-aware and financially responsible society. IRCSL believes that initiatives such as ‘InsureChamp 2025’ will play a key role in preparing the next generation of leaders capable of advancing Sri Lanka’s financial and insurance landscape with confidence.

The United States has extended significant humanitarian assistance to Sri Lanka to support nationwide relief efforts in the aftermath of Cyclone Ditwah, which caused severe damage across multiple regions.

The assistance was presented by US Ambassador Julie Chung, USAF Lt. Col. Van Pinxteren, and Defence Attaché Matthew House.

As part of the support package, the United States has provided two C-130 aircraft, two bowsers, and a forklift to strengthen logistics capacities needed to transport humanitarian supplies to affected communities in the Northern, Eastern and Central regions. Additionally, 60 personnel from the US Air Force have been deployed to assist with relief operations.

Sri Lankan officials expressed their gratitude for the timely support, which will bolster ongoing national efforts to reach displaced families and restore essential services in cyclone-affected areas.

The Government has decided to do away with the five year no-pay leave granted to public sector employees with effect from 1 January 2026. The no-pay leave system was introduced in 2022 by a Cabinet decision amidst the economic crisis. The leave was granted to pensionable officers without prejudice to their seniority.

Public Administration Ministry Secretary S. Aloka Bandara said the Cabinet has approved a proposal to cancel the five-year leave option, which was used by many to seek alternate employment either locally or overseas. The Government said there will be no leave extension for those who have already obtained such leave, while fresh applications will also no longer be processed.

The system was introduced during the economic crisis as there was the need to reduce the salary bill of the Government, but it has also led to many professionals including doctor’s engineers, nurses and many others leaving the country to take up jobs overseas. This in turn led to a shortage in many areas particularly in the medical field.

When Health Minister Nalinda Jayatissa visited the UK in October, he called on Sri Lankan specialist doctors working overseas to consider returning home, citing a shortage of medical specialists in the state health service.

‘There is currently a shortage of specialist doctors in our health service. I assure that if you return to work in Sri Lanka, you will be reinstated in the same positions with all the previous service benefits,’ the Minister told a meeting with Sri Lankan doctors employed in the U.K.

But how many will be willing to take up the Minister’s request and return to the country? It’s likely to be few, if any at all.

One of the main fallouts of the 2022 economic crisis, on the back of the Easter Sunday bombings, was pushing many Sri Lankans to migrate. Unlike many who used to travel overseas, mainly to the Middle East, for employment, in 2022, a large number of people decided to migrate. Some took jobs overseas while others used the education route to get a foothold in a developed country and seek employment. This trend may have slowed down but the numbers waiting to leave the country seeking greener pastures is still high. The recent Ditwah cyclone and the inevitable economic cost will no doubt push even more people to leave the country.

Migration is taking away from the country many who are needed. Doctors, nurses, teachers, academics, sportspersons, specialists in the field of IT, economics, the hospitality and tourism industry and the list goes on. Many are taking up offers from other countries and many have secured lucrative jobs overseas.

One big drawback in the country remains the low pay, high costs and lack of benefits, all of which does little to encourage people to remain in the country. Many are not only making more money but also enjoying a better quality of life overseas.

The Government cancelling the no-paid benefit for State sector employees is understandable given the dire need for them in the country. They now have to decide between quitting their jobs and seeking other forms of employment or serving their full term in office. But such measures will not help retain talented and educated Sri Lankans who want a better life than on offer in the homeland. In an ideal world, citizens of a country should be able to live, work, raise families, spend time with aging parents etc., in the country of their birth but this is true of only a few economically developed countries with a high standard of living. So, putting the brakes on migration isn’t easy. Realistically, the effects of the cyclone and the massive damage it has caused is likely to push even more people to leave the country.

Agriculture Minister K.D. Lalkantha yesterday voiced sharp concern over the continued red-level landslide alerts in Kandy, saying the lack of clearance from the National Building Research Organisation (NBRO) is stalling basic recovery work and planning.

He warned that, with risks still elevated in multiple locations, authorities are being forced to contemplate options as drastic as relocating communities.

He said officials in the district cannot move ahead with restoration because the NBRO has not yet confirmed that conditions are stable. More than 20 areas in Kandy remain under a Level 3 red warning, the highest category issued by the NBRO, with similar alerts affecting Kegalle, Kurunegala, and Matale.

Lalkantha noted that while some agencies had discussed reopening schools, those same buildings may instead have to accommodate additional evacuees if conditions deteriorate. He said eight teams are currently operating on the ground, with the possibility of deploying more.

He added that the Government has examined the option of requesting international assistance, but that decisions on relocation, the continued use of schools as shelters, and the resumption of routine activities all depend on clear guidance from technical authorities.

‘We cannot shift entire administrative divisions,’ he said, noting that specific high-risk areas have been identified for priority action. He also underscored the need for divisional coordination committees to convene frequently, alongside district-level bodies, to manage the expanded workload linked to post-disaster recovery.

The Commercial Bank of Ceylon PLC was named Sri Lanka’s Best Trade Finance Bank at the prestigious Euromoney Transaction Banking Awards 2025, in recognition of the bank’s strong performance and continued contribution to supporting Sri Lanka’s export and import sectors.

This global recognition from Euromoney, a leading authority in financial markets, celebrates institutions that demonstrate innovation, leadership, and measurable impact in transaction banking across cash management, payments, trade finance, and technology. Commercial Bank is Sri Lanka’s clear market leader in trade finance, commanding a 21% share in exports and a 14.26% share in imports, demonstrating its strong presence across both segments.

In 2024, the bank supported over $ 5 billion in trade transactions, underscoring its unmatched role in enabling the flow of goods, services, and foreign exchange. Its leadership has also been recognised regionally by the Asian Development Bank (ADB), which named Commercial Bank its Leading Partner Bank in Sri Lanka for the fourth consecutive year under the Trade and Supply Chain Finance Program.

At the forefront of Commercial Bank’s recent innovations is ComBank TradeLink, Sri Lanka’s first fully integrated, end-to-end digital trade finance platform. The system brings all trade finance operations – from Letters of Credit to export collections and shipping guarantees – into one secure online interface, providing customers real-time visibility, faster processing, and paperless convenience. This digitalisation drive has redefined the client experience, reduced manual processes and improved turnaround times across thousands of transactions.

The bank’s commitment to advancing Sri Lanka’s trade sector extends beyond technology. Through initiatives such as the ComBank Trade Club, which facilitates connections between buyers and suppliers both locally and internationally, and ComBank LEAP | GlobalLinker, a digital business networking platform for SMEs, the Bank is actively building bridges between Sri Lankan entrepreneurs and global markets. Its Diribala Exporter Development Program further empowers micro, small, and medium enterprises to become export-ready, providing access to expert guidance, training, and financial support.

Reflecting on the award, Commercial Bank said the recognition from Euromoney was a tribute to the trust placed in the bank by Sri Lanka’s exporters and importers, and to the dedication of its trade finance teams who continue to innovate and deliver excellence in a rapidly evolving global landscape.