Category: Daily Financial Times

The North East Monsoon Meet 2025, organised by the Royal Colombo Golf Club (RCGC) and sponsored by Dialog Enterprise, delivered exceptional golf, with competitors showing consistency, precision, and remarkable composure across multiple historic trophies.

The Clifford Cup set the tone for the tournament, where Omar Mizran emerged as the winner with an impressive 70+64 for a 134 Nett score. Experienced golfer Chanaka Perera, finishing runner-up on 136 Nett, remained close on his heels, ensuring a tight contest that captured the spirit of the event.

In the Annual Gold Medal, Rohan Pieris delivered the standout gross performance of the round, carding a superb 69 to clinch the title. His rhythm and precision were evident throughout, marking him as one of the tournament’s most consistent golfers. Consistent Husni Uwise, finishing runner-up with a 73 Gross, played a strong round himself, displaying the calm and technical finesse he is known for.

Pieris continued his dominance in the RCGC Centenary Trophy, capturing yet another win with a combined Nett tally of 272 (62+62+76+72). His sustained excellence across four rounds made this one of the most commanding victories of the meet. The runner-up position went to youngster Thejas Rathiskanth, who posted a solid 277 Nett through steady play and perseverance across the challenging format.

The Mackinlay Qualesh event saw Dulanka Weraduwage claim the title with a 65 Nett, showing excellent short game control. Omar Morgan, adding another top-two finish to his week, followed closely with a 67 Nett, proving his consistency across events.

Rounding off the meet, the Nandasena Perera Trophy saw Husni Uwise take top honours with a 144 Gross (73+71). His composed performance set the benchmark, while Chanaka Perera ended as runner-up with 145 Gross, ensured an exciting finish to an outstanding week of golf.

Central Bank (CBSL) Governor Dr. Nandalal Weerasinghe yesterday said the surge in vehicle imports that followed the lifting of the five-year import suspension has now tapered off, with pent-up demand largely exhausted by November.

Speaking at the post-Monetary Policy Review meeting media briefing, Dr. Weerasinghe noted that Letters of Credit (LCs) for vehicle imports, which spiked sharply in July, have since declined, indicating a normalisation of demand.

He added that import prices for vehicles are also falling, contributing to a more stable and predictable market.

‘In July, August, and September, we saw a large number of imports. Now, the pent-up demand is over, and the demand has come down in November,’ he said, acknowledging that the initial rush for vehicles was slightly higher than the CBSL had anticipated.

According to the latest CBSL data, vehicle imports, including both personal and commercial units, totalled $ 286 million in September, pushing total imports for the first nine months of 2025 to $ 1.2 billion.

The lifting of the temporary suspension on vehicle imports on 1 February 2025 had triggered a wave of deferred purchases, driving up demand through the third quarter.

Dr. Weerasinghe said as the market is now moving towards equilibrium, easing pressures on foreign exchange outflows, it helps to restore balance between supply and demand in the external sector for broader economic conditions to stabilise.

Nawaloka Hospitals has been honoured with the prestigious title of ‘Leading Hospital in AI and Innovation of the Year in Asia Pacific’ at the GlobalHealth Asia Pacific Awards 2025, held in Athenee Hotel, Bangkok recently. This landmark recognition places Sri Lanka firmly on the global healthcare innovation map and reinforces Nawaloka’s leadership in adopting cutting-edge technologies to serve the nation.

This is the first time a Sri Lankan hospital has secured this coveted international title, underscoring Nawaloka’s groundbreaking efforts in transforming healthcare delivery through technology. The recognition was driven in large part by the hospital’s introduction of Sri Lanka’s first AI-powered Emergency Radiology Unit, a major leap forward in diagnostics and patient care.

‘Nawaloka Hospitals has always been driven by a vision to elevate the quality of healthcare in Sri Lanka through innovation, excellence, and accessibility,’ said Nawaloka Hospitals PLC Chairman Dr. Jayantha Dharmadasa.

‘This award is a testament to our continued investment in next-generation technology and our unwavering commitment to delivering world-class care at an affordable price to the Sri Lankan public. We are proud to lead the way in setting new benchmarks for private healthcare in the region.’

The GlobalHealth Asia Pacific Awards recognise healthcare providers and companies that go beyond traditional service delivery to create exceptional patient experiences. Winners are selected through a rigorous judging process that includes in-depth interviews, consumer feedback across multiple touchpoints, and analysis of organisational performance and growth strategy.

Nawaloka’s AI-powered ER Radiology Unit, the first of its kind in the country, has set a new industry standard for diagnostics. The system enhances the speed and accuracy of critical diagnoses, particularly in emergency situations, offering patients quicker access to life-saving treatment. This technology-driven milestone reflects the hospital’s broader ambition to bring future-ready healthcare to Sri Lanka’s doorstep.

The award also acknowledges the strategic leadership and future-forward thinking that have driven Nawaloka’s transformation journey in recent years. With a focus on digitisation, patient-centric design, and operational excellence, Nawaloka continues to build a healthcare ecosystem that meets global standards while staying rooted in local needs.

The GlobalHealth APAC Summit, Conference and Awards 2025 serves as a dynamic platform that brings together industry leaders, innovators, and policymakers to exchange ideas, explore breakthroughs, and chart the course for the future of healthcare. Nawaloka’s recognition among such an elite group of healthcare institutions marks a significant milestone not only for the hospital but for Sri Lanka’s healthcare sector as a whole.

As healthcare systems across the Asia Pacific region adapt to the realities of a fast-evolving landscape, Nawaloka Hospitals’ success offers a powerful case study on how innovation, leadership, and customer focus can converge to drive sustainable growth and global recognition.

Sysco LABS delivered an exceptional performance at the Mercantile Tennis Tournament 2025, securing 5th place out of 35 companies-a significant climb from last year’s 24th-place ranking and the highest among IT sector participants. Key victories included Damsarani Vitharana winning the Women’s Singles Green Ball Championship, Kishokanth Kumar winning the Men’s Singles Green Ball Championship, Chanuk Algama finishing Runner-up in the Men’s 35+ Singles, and Sandali Thiserra reaching the Women’s Singles Green Ball Semi-finals. Here the Sysco LABS Tennis Team who participated in the Mercantile Tournament 2025.

The Colombo stock market yesterday closed on the up for the second straight session with both indices ending in green.

The ASPI gained 0.11% to close up 24.32 points to 22,844.23 and the active S and P SL20 was up 0.20% or 12.55 points to 6,311.30.

Market turnover was over Rs. 3.4 million on nearly 157.31 million shares traded. Foreign investors were net sellers with a net outflow of Rs. 124.56 million.

First Capital Research said the Colombo Bourse carried forward Tuesday’s positive momentum into the first half of yesterday’s session amidst a bit of volatility, yet managed to close the day in green with retail and HNW investors displaying moderate sentiment following the Monetary Policy Review, where policy rates were maintained.

Notably, investors showed heightened interest in counters within the Hotel sector throughout the session. The key market movers for the day were HNB, DOCK, DIMO, AEL, and PKME.

Market turnover was 38% below the monthly average of Rs. 5.6 billion.

The Capital Goods sector accounted for 27% of total turnover, followed by the Materials and Banking sectors, which collectively contributed 29%.

Bairaha Farms PLC reaffirms its dedication to providing consumers with the highest quality, antibiotic-free chicken products, devoid of chemical, artificial additives, preservatives, or added hormones.

This commitment underscores Bairaha’s long-standing philosophy of delivering safe and superior nutrition, setting a benchmark for purity and food safety in the industry.

At Bairaha, the pursuit of wholesome goodness is at the core of every operation. The company employs advanced, non-chemical processing methods that prioritise consumer’s well-being and environmental responsibility.

Unlike conventional practices of the industry relying on harsh chemicals like chlorine for washing/rinsing the bird in processing while, Bairaha utilises Peracetic Acid (PAA), a highly effective and safer alternative for antimicrobial efficacy.

PAA boasts a superior ability to combat a broad spectrum of microorganisms, even at lower concentrations and in the presence of organic matter where chlorine’s effectiveness diminishes.

Crucially, PAA breaks down into non-toxic residues such as acetic acid, water, and oxygen, ensuring no harmful chlorinated by-products, like trihalomethanes are formed, making it inherently safer for food contact.

Furthermore, PAA is considerably less corrosive to equipment at working concentrations, minimising infrastructure wear and tear, and more importantly, it poses a significantly lower risk for worker exposure, as it does not release toxic gas under normal use, unlike chlorine.

These practices are not only aligned with Bairaha’s internal standards but are also widely recognised and accepted by international regulatory bodies, including the USDA and FDA, and by export markets that restrict chlorine use, such as the European Union.

By adhering to these rigorous standards and in being certified with ISO 22000, HACCP, and GMP, Bairaha Farms PLC continues to empower Sri Lankan households with chemical-free chicken with better taste and flavour reinforcing its position as a leader committed to health and purity.

Having somewhat regained their form with a convincing nine-wicket win against Zimbabwe on Tuesday, Sri Lanka face their final hurdle when they confront hosts Pakistan today in what could be another do-or-die contest in the T20I Tri-Series in Rawalpindi.

A win will see Sri Lanka face Pakistan in the final on Saturday, whereas a loss will enable Zimbabwe to sneak through to the final on a better net run rate. Sri Lanka are too good a side to let that happen and, if the way they performed against Zimbabwe is anything to go by, they should beat Pakistan and contest the final.

Sri Lanka bowled and batted as if possessed and raised their game a notch higher to defeat Zimbabwe and outplay them. There is nothing like a win to boost the confidence of a team and Sri Lanka were desperate for one, having lost their last five T20Is before Tuesday’s victory. The win should hold them in good stead although Pakistan are not an easy side to beat going on their current form.

Today’s match is in Pakistan’s hands, whether they want Sri Lanka or Zimbabwe as their opponents in the final. Pakistan should also be reminded that this T20I Tri-Series would not have been taking place had Sri Lanka decided not to stay back and continue the tour after a bomb scare nearly resulted in half the team wanting to return home.

Sri Lanka’s target to hunt down 147 was all about Pathum Nissanka. Since that memorable 107 he scored against India in the final group match of the Asia Cup in September, Nissanka had failed to convert any of his starts into a big one until Tuesday, when he scored a 58-ball 98*. In that period, Sri Lanka suffered five consecutive white-ball losses (three ODIs and two T20Is). Although it should not be the case, when Nissanka fails, Sri Lanka fails.

‘We have seen the team struggling when Pathum is not amongst the runs. The players knew it and we had discussed it. We cannot always depend on Pathum; when he delivers, it’s good, but when he fails, someone else must put his hand up and score the runs,’ said Head Coach Sanath Jayasuriya.

‘In the batting department, the first four batters didn’t click properly. That was the key issue we were having and we were addressing it. Unfortunately, the players were getting a start and getting out. That was the problem we had. Also, we are not playing on wickets that we usually get in Pakistan; during winter it’s different-we have to adjust to it. It’s not an excuse but we should have batted well.’

‘Yesterday [Tuesday], they batted differently. Pathum got a start and he continued and Kusal Mendis from the other end gave him good support to finish the match in the 17th over. That’s how it should be. The top four batters in the order are important. We always expect one of them to play a big innings. I hope we can continue that way.’

Throwing further light on the conditions the players are fighting to overcome, Jayasuriya said: ‘This Tri-Series was scheduled to be held in Lahore, not in Rawalpindi, where it is the winter season. Pakistan don’t play any matches in Rawalpindi during this time of the year. As a result, the conditions are totally different.’

Modern day cricket hardly allows touring teams to have side games or practice matches because of the tight international schedules. So it is imperative to acclimatise to the conditions as quickly as possible.

Sri Lanka are likely to go with an unchanged side for today’s game.

Rootcode celebrated a remarkable night of recognition at the National ICT Awards (NBQSA) 2025, held recently at the Taj Samudra Hotel in Colombo, taking home six awards across several categories. The wins highlight Rootcode’s steady focus on technical excellence and meaningful innovation.

The National ICT Awards (NBQSA), organised by the Sri Lankan section of the British Computer Society (BCS) – The Chartered Institute for IT, is a platform for recognising excellence in ICT. Conducted annually since 1998, the awards celebrate outstanding achievements by individuals and organisations in developing high-quality ICT products, provide a platform for international recognition, and aim to elevate the quality and standards of Sri Lankan ICT solutions to compete globally.

At this year’s ceremony, ‘Clamigo by Rootcode’ earned a Gold Award in the Agriculture in Industrial Category and was also named the Best Product Presentation of the Year. Clamigo is an AI-driven smart farming solution built by Rootcode for the City of Porto, Portugal. It combines a mobile app and IoT sensors to support farmers with real-time insights on soil, weather, and crop health.

‘Urbanora by Rootcode,’ an AI-driven citizen engagement platform developed for the City of Prague, Czech Republic, won a Gold Award in the Citizen Services in Public Sector Category. This platform reimagines how cities connect with residents by simplifying issue reporting, automating service requests, and supporting multilingual, privacy-compliant workflows.

Rootcode’s unified business-operations platform – ‘Skapp’ received a Silver Award in the ICT Services Solutions in Business Services Category for its integrated suite of tools that streamline HR, project management, e-signatures, invoicing, and more.

‘Neuragrid by Rootcode’ brought home two awards-Silver in the Research and Development Projects Category and Bronze in the Resources, Energy and Utilities in Industrial Category.

Neuragrid is an AI multi-agent reinforcement learning-based energy grid optimisation tool that integrates directly with GridApps-D, an open-source framework from the United States Department of Energy.

Spanning industries from agriculture and public services to business solutions and energy management, Rootcode’s achievements at NBQSA 2025 reflect its broad technical capability and ability to deliver across different domains. These awards reinforce Rootcode’s mission to build meaningful technology that transforms industries and improves lives across the globe.

Rootcode is a global technology company specialising in software product engineering, based in Estonia and Sri Lanka. By leveraging AI and advanced technology, Rootcode delivers impactful digital solutions that power organisations worldwide, including three European Governments.

Sri Lanka’s 2026 Budget signals one of the strongest commitments to construction-sector investment in recent years, with more than Rs. 688 billion channelled into roads, housing, water systems, urban development and public infrastructure. The allocations, detailed in the BDO Budget Highlights 2026, outlines an ambitious rollout of projects expected to shape national connectivity, modernise cities and upgrade essential public services.

Highways dominate: A push to reconnect the country

The Transport, Roads and Highways Ministry receives the largest share, reflecting the government’s intention to re-activate suspended projects and deliver long-delayed transport corridors. Key provisions include: Rs. 342 billion for nationwide road development, Rs. 66.15 billion for the Kadawatha-Mirigama stretch of the Central Expressway, Rs. 10.5 billion and Rs. 20 billion for two further segments of Phase III, Rs. billion and Rs. 1.5 billion for land acquisition for the Kurunegala-Dambulla and Ruwanpura expressways, Rs. 330 million for feasibility work on a new elevated highway link to Marine Drive. This concentration of funding positions the road network as the backbone of the 2026 construction agenda.

Urban development: Building the next generation of cities

Urban development proposals signal an effort to reshape regional centres and improve municipal capability. Key provisions include:2 billion for feasibility studies across ten major towns, Rs. 500 million each for Matale access road widening and Ratnapura quarters relocation, Rs. 900 million for expanded waste-management facilities, Rs. 2.5 billion to strengthen local government infrastructure. These measures aim to lift the operational and planning capacities of fast-growing urban areas.

President and Finance Minister Anura Kumara Dissanayake

Housing and regeneration: Addressing urgent social needs

The 2026 Budget provides a wide span of housing interventions, from urban regeneration to community-specific projects. Key provisions include: Rs. 15 billion for the Urban Regeneration Project, Rs. 3 billion for low-income housing, Rs. 2 billion for disaster-displaced families, Rs. 5 billion for internally displaced communities, Rs. 4.29 billion to construct 2,000 houses for the Malayagam community, 1.18 billion for renovating older apartment complexes, Rs. 840 million for Kelani Valley Railway resettlement. This portfolio underscores a strong emphasis on housing affordability, resettlement, and structural rehabilitation.

Water and Irrigation: One of the year’s largest commitments

Water and irrigation receive nearly 200 billion, reflecting the sector’s vital role in agriculture and essential services. Key provisions include: Rs. 91.7 billion for major irrigation projects, Rs. 8.35 billion for small tank and canal upgrades, Rs. 6.5 billion for restoration of key canal systems, Rs. 5 billion for the Lower Malwathu Oya project, Rs. 85.7 billion for drinking water schemes, Rs. 1 billion for urban water improvements. Few sectors match this level of investment intensity within the 2026 Budget.

Industrial zones and public infrastructure: Supporting future growth

Additional allocations strengthen the industrial ecosystem and key public institutions:1 billion for new industrial zones, Rs. 1 billion for feeder/service zones, Rs. 2 billion for service zones in investment areas, Rs. 1.5 billion for reopening technology parks, Rs. 100 million for digital land systems.

Public-facility construction includes: Rs. 2 billion for the Inland Revenue Department headquarters, Rs. 500 million for Ratnapura City development, Rs. 500 million for Hatton and Matale town improvements, Rs. 200 million for new City Halls in Ampara and Monaragala, Rs. 2 billion for prison relocation and upgrades.

Implementation and procurement efficiency: A key sector expectation

With allocations of this scale spread across multiple ministries, industry stakeholders note that the effectiveness of the 2026 public investment program will depend heavily on timely implementation and efficient fund disbursement mechanisms.

Construction-sector professionals consistently emphasise the importance of: Streamlined procurement processes, Predictable project award timelines, Swift release of funds, and Transparent contracting procedures to ensure that allocated sums translate into real progress on the ground.

These expectations reflect a widely shared industry view that efficient implementation is essential for the full utilisation of the 2026 construction Budget, particularly given the significant commitments across highways, water infrastructure, and housing.

Taj Samudra unveiled Navratna in its new avatar last week, following a comprehensive and elegant renovation. The refreshed design blends contemporary sophistication with timeless artistic elements, creating a warm and vibrant atmosphere that elevates the dining experience.

The new menu pays homage to India’s rich culinary heritage while introducing refined interpretations of classic dishes, crafted with the finest ingredients and authentic regional flavours.

The reopening was marked with a special ceremony, celebrating the return of one of the city’s most cherished Indian dining destinations-now reimagined, revitalised, and ready to welcome guests to an exceptional gastronomic journey.