Category: Daily Financial Times

The global movement toward sustainable mobility continues to accelerate, led by Contemporary Amperex Technology Co. Ltd., (CATL) – a leading innovator and manufacturer of electric vehicle (EV) batteries. With a remarkable 42.81% market share for EV batteries worldwide, CATL powers almost half of all electric vehicles worldwide, including models from prominent brands like Tesla, BMW, and Mercedes-Benz.

Through its integration into vehicles introduced by Evolution Auto Ltd., the local representative for several advanced Chinese EV manufacturers, including the premium Avatr 11, Geely Ridara RD6 Pickup, and King Long Kingwin+ (all powered by CATL batteries), along with XPENG, IM Motors, KYC Vans, and King Long Electric Vans, this same world-class technology is now setting new benchmarks in Sri Lanka’s transition to electric mobility.

Proven performance and relentless innovation define CATL’s leadership. In addition to creating next-generation technologies like sodium-ion and solid-state batteries, which are designed to provide better performance, quicker charging, and greater environmental sustainability, the company has led the way in advancements in battery efficiency, energy density, and safety.

For Sri Lanka, this global technology means performance, reliability, and confidence. Consumers in Sri Lanka may now purchase EVs with CATL battery systems, the same trusted technology utilised by top automative brands worldwide, thanks to Evolution Auto.

Evolution Auto Ltd., Group CEO Virann De Zoysa said: ‘Partnering with global technology leaders like CATL guarantees that our consumers receive the highest standards of quality and safety as Sri Lanka embraces electric mobility. We take pride in representing companies that use CATL’s proven battery technology, enabling Sri Lankans to drive sustainably and without sacrificing quality.’

CATL said its entry through Evolution Auto represents a turning point in Sri Lanka’s green mobility journey as the country works to reduce carbon emissions and fuel dependency. They are working together to create a future of transportation that is smarter, cleaner, and more energy-efficient.

Sri Lanka has asked Canada to curb activities on Canadian soil that endorse separatist narratives tied to Sri Lanka, including the public display of LTTE symbols.

Foreign Minister Vijitha Herath made the request during a meeting with Canadian High Commissioner Isabelle Catherine Martin.

Herath said groups in Canada continue to organise events and campaigns that attempt to revive separatist sentiment, adding that such efforts undermine Sri Lanka’s attempts to strengthen reconciliation and community relations. He asked that these concerns be communicated to Ottawa, warning that unchecked activism of this kind risks creating misunderstandings between the two countries.

High Commissioner Martin reiterated that the LTTE remains listed as a terrorist organisation in Canada and that the Canadian government does not recognise LTTE symbols or related imagery. She also affirmed Canada’s support for Sri Lanka’s sovereignty and territorial integrity.

The Lanka Hospitals Corporation PLC has appointed Dr. U.D.P. Ratnasiri to its Board as an Independent Non-Executive Director.

Dr. Puspananda Ratnasiri is a distinguished Consultant Obstetrician and Gynaecologist with more than 32 years of experience in leading high-volume tertiary hospitals in both Sri Lanka and the United Kingdom.

Renowned for his clinical excellence, Dr. Ratnasiri has demonstrated expertise in managing complex obstetric conditions and has pioneered surgical interventions, particularly in placental adhesive disorders. His contributions to postgraduate education have been significant, and he is recognised internationally as a leader, examiner, and trainer.

He has also served as the past Chairperson of the International Representative Committee of the Royal College of Obstetricians and Gynaecologists (RCOG), adviser to the Maternal and Fetal Medicine Committee of the Asia Oceania Federation of Obstetrics and Gynaecology, and Vice President of the South Asia Federation of Obstetrics and Gynaecology.

Organised under the National Pathway Program of Sri Lanka Cricket (SLC), the Prima Under-15 Sri Lanka Youth League (SLYL) 2025 tournament provides players a national-level platform to perform and elevate to the next level in a bid to reach the national stage.

The 50-over tournament consisting of five Super Provincials, such as Colombo North, Colombo South, Dambulla, Galle, and Kandy, will be played across five grounds in Colombo from 19 to 28 November. The semi-finals will take place on 26 November and the finals on 28 November at the Thurstan College cricket ground.

SLC CEO Ashley de Silva said: ‘SLC plays a pivotal role in age-group cricket, as it provides us the ideal platform to find and nurture players for the future, and the Prima Under-15 SLYL has played a pivotal part in that process.’

Sri Lanka has seen several youth players emerge through the Prima Under-15 SLYL and go on to represent the country as national players.

Since 2007, Prima Group Sri Lanka has served as the official sponsor of the Prima Under-15 SLYL.

‘The Prima Under-15 SLYL reflects our enduring commitment to nurturing grassroots cricket in the country,’ said Prima Group Sri Lanka Ceylon Agro Industries General Manager Sajith Gunaratne. ‘For nearly two decades, we have worked closely with SLC to create opportunities for young players to discover their potential. Observing many of them ascend through the ranks to represent the nation brings immense satisfaction.’

National white-ball team Captain Charith Asalanka said: ‘I had the privilege of taking part in the 2011-2012 editions of the Prima Under-15 SLYL, and it was a great opportunity for us at the time, and I believe it will be the same for the young players participating this year.’

Kamindu Mendis, who took part in the 2012 and 2013 editions of the tournament, noted that the tournament played a vital role in shaping his early cricketing journey.

Sri Lanka’s opening batsman Pathum Nissanka, recalling his memories of playing in the tournament in the 2013 edition, expressed his confidence that the tournament will continue to serve as a valuable platform for young players to showcase their skills.

The Prima Under-15 SLYL 2025 remains one of the most anticipated youth cricket events in the country, providing a valuable platform for young players to showcase their talent and gain recognition.

The Captains of the five teams are: Colombo North – Mishika Abewardena, Colombo South – Methuka Gunarathna, Dambulla – Yumal Egodage, Kandy – Lakindu Mewul, and Galle – Hiruk Akalanka.

The Government is to roll out an incentive scheme for high-productivity enterprises.

This was disclosed by Industry and Entrepreneurship Development Deputy Minister Chathuranga Abeysinghe last week at an awareness program on the upcoming National Productivity Awards Competition.

This competition is organised every two years by the National Productivity Secretariat (NPS), which operates under the Ministry.

The primary objective of the program was to strengthen cooperation between the public and private sectors to promote organisational excellence, innovation, and productivity throughout Sri Lanka. The government intends to offer various incentives and relief measures to businesses that successfully enhance their productivity.

In his remarks, the Deputy Minister emphasised that achieving an industrial renaissance in the country requires local businesses to develop plans to increase their productivity by a minimum of 30%. He affirmed that the government is prepared to prioritise high-productivity entrepreneurs-specifically those with a vision for the international market-for services such as low-interest loan concessions and land grants.

Currently, the Ministry of Industry, working through the NPS, provides local institutions with free knowledge on productivity concepts.

The Deputy Minister highlighted the significant cost savings this offers, noting that obtaining similar services internationally typically costs approximately $2,000 per day, while domestic services cost a minimum of Rs. 100,000.

This knowledge sharing was undertaken voluntarily by professionals from leading private sector organisations who view the initiative as a national duty.

Looking ahead, the entire program is scheduled to be implemented via a fully digital platform. The NPS aims to register 2,000 institutions for the next National Productivity Awards Competition.

The recent educational initiative aimed to: Enhance awareness regarding the 2025/26 National Productivity Awards; Increase participation from the manufacturing and service sectors; and Build the organisational capacity necessary for institutions to compete effectively at the national level.

The Ministry provided practical insights on how to accelerate business transformation in the production and service sectors in conjunction with the National Productivity Program.

The session also covered how to improve operational efficiency and how institutional leaders can best position their organisations for business excellence and global competitiveness.

The event was attended by officials including Secretary of the Ministry of Industry and Entrepreneurship Development Tilaka Jayasundara, and Director of the National Productivity Secretariat, Niranj S. Jayakody, alongside entrepreneurs from numerous local entities.

Scotland have qualified for the World Cup finals for the first time since 1998 after a hair-raising match against Denmark that saw the Scottish side secure a memorable 4-2 victory with most of the action taking place in the final minutes.

Expectations hung heavy long before kickoff in Glasgow as Scotland’s date with destiny loomed. Despite qualifying for the last two European Championships, World Cup qualification has proved out of reach for Scotland since France 1998.

Yet, the Scottish side beat a 10-man Danish side 4-2 in a winner-takes-all match in Group C, with Scott McTominay scoring with a bicycle kick just three minutes into the match, sending Scotland’s supporters at Hampden Park into raptures.

Denmark, who only needed to avoid defeat to make sure of their third successive World Cup finals appearance, were left crestfallen. They will now join 11 other teams that finished second in their groups in a playoff competition. Only four of these 12 teams will qualify for the World Cup.

Wesley College Colombo will host the annual ‘Shelton Wirasinha Oration’ at 5:30 p.m. today at the College Main Hall. The Oration will be delivered by distinguished Old Boy Prashan De Visser, and is open to the public.

For over two decades, Arthur Shelton Wirasinha stood at the helm of Wesley College, guiding it through some of its most formative years. Serving as Principal from 1962 to 1983, his leadership defined an era marked by academic excellence, discipline, and deep humanity.

A product of Richmond College, Galle, where he later served as teacher, headmaster, vice principal and principal, before taking over the leadership of Wesley, he brought with him not only his formidable intellect but also the warmth and sincerity of a true educator.

Those who studied under him remember a man of quiet authority-firm yet compassionate, eloquent yet humble. He believed education was not merely about producing scholars, but nurturing citizens of character and conscience. Generations of Wesleyites, now spread across the world, carry with them the values he instilled: integrity, humility, and service to others.

‘The annual Shelton Wirasinha Oration as a tribute to that legacy-a moment when the Wesley family, past and present, gathers ‘neath the Double Blue to honour a Principal whose influence continues to echo through the halls of the College,’ says Wesley College Colombo Principal Avanka Fernando.

Prashan De Visser brings with him the same spirit of leadership and dedication that Wirasinha so greatly inspired. A respected youth advocate, social entrepreneur, and founder of Sri Lanka Unites, Prashan has spent his career empowering young people to become catalysts for peace and reconciliation.

A proud Old Wesleyite, he has represented Sri Lanka on numerous global platforms, promoting dialogue, democracy, and ethical leadership. His address this year will reflect on ‘Beyond the Boundaries of Self-Ambition.’

Associated Motorways Ltd., (AMW), the authorised distributor for Suzuki in Sri Lanka and a member of the globally respected Al-Futtaim Group, handed over 44 brand-new Suzuki FRONX SUVs to Lion Brewery (Ceylon) PLC, in a partnership facilitated by Central Finance Company PLC (CF).

The handover took place in the presence of senior representatives from AMW, Lion Brewery, and Central Finance. The event marked a significant milestone in strengthening corporate partnerships built on trust, innovation, and shared progress.

AMW Managing Director Jawahar Ganesh emphasised the power of collaboration among leading Sri Lankan corporates. ‘It gives me great pleasure to celebrate this partnership with two of Sri Lanka’s most respected organisations, Lion Brewery and Central Finance. Today’s handover of 44 Suzuki FRONX SUVs is more than a business transaction; it’s a testament to the trust, confidence, and shared vision that unite our companies. At AMW, we remain deeply committed to supporting our partners with reliable and efficient mobility solutions that enable long-term success,’ said Ganesh.

He also extended appreciation to Lion Brewery for their continued confidence in the Suzuki brand and to Central Finance for facilitating yet another successful collaboration.

Ganesh highlighted AMW’s heritage and international strength under the Al-Futtaim Group, a multinational conglomerate operating in over 20 countries across the Middle East, Africa, and Asia.

‘With over 76 years of service excellence in Sri Lanka, AMW combines deep local expertise with the global standards and innovation of the Al-Futtaim Group. This allows us to deliver not just vehicles, but long-term value built on trust, consistency, and world-class service,’ he noted.

The Suzuki FRONX, a bold, compact SUV, blends modern design, superior performance, and fuel efficiency, making it ideal for dynamic business operations. Its safety features, comfort, and advanced technology ensure reliability for daily use, aligning perfectly with Lion Brewery’s operational excellence.

Reaffirming AMW’s focus on customer satisfaction, Ganesh assured that AMW’s nationwide after-sales network would continue to provide exceptional service support to Lion Brewery’s fleet.

‘Our after-sales network, supported by trained technicians and genuine Suzuki parts, ensures that every vehicle performs at its best. We don’t just hand over vehicles; we deliver peace of mind and long-term value,’ he added.

Ganesh expressed optimism about Sri Lanka’s economic outlook. ‘We at AMW and the Al-Futtaim Group are confident in the direction of Sri Lanka’s economy. The stability of Government policy, the resilience of local industries, and the growing pool of skilled professionals all inspire our continued investment in this country’s growth,’ he said.

The event concluded with the ceremonial handover of the symbolic key to Lion Brewery Chief Sales and Marketing Officer Madhushanka Ranatunga, symbolising the beginning of yet another successful corporate journey powered by Suzuki and AMW.

The Committee on Public Finance (CoPF) has reviewed the financial performance of major revenue-generating agencies under the Finance Ministry for the period up to September 2025. The review was carried out last week when the Committee, chaired by MP Dr. Harsha de Silva, convened in Parliament.

Senior officials from the Inland Revenue Department (IRD), Sri Lanka Excise Department, and Sri Lanka Customs presented updates on the progress of their respective institutions, outlining revenue performance and operational outcomes for the year thus far.

Officials from the Public Debt Management Office (PDMO) also briefed the Committee on the Government’s Medium-Term Debt Management Strategy for 2026-2030.

They also outlined the annual borrowing plan for 2026, providing clarifications on projected financing requirements and debt sustainability measures.

The Board of Investment (BOI) presented a progress update on foreign direct investment (FDI) inflows. The BOI reported that Sri Lanka had attracted $ 827 million in FDI from January to September 2025.

The Committee noted that while this reflects positive momentum, the BOI and related agencies must intensify efforts to ensure a consistent and sustainable growth trajectory in foreign investment over the coming years.

In addition, the Committee granted approval for eight reports submitted under the Public Finance Management Act, No. 44 of 2024, all of which require CoPF endorsement as part of the statutory financial oversight process.

For more than a century, Ceylon Tea was not just an export crop. It was the main foreign exchange earner of the nation – a national inheritance left behind by British planters who, whatever one may say of colonial exploitation, built an industrial and managerial system of extraordinary discipline. They also did something rarely acknowledged today: they trained Ceylonese planters and superintendents to run those estates with the same precision and discipline when the British eventually departed.

After independence, and through the early years of nationalisation, these Sri Lankan planters maintained excellent agricultural standards, meticulous field supervision, and efficient manufacturing. Standards remained high even as costs rose through wage hikes, because these managers understood – as their teachers had – that the industry’s success depended on uncompromising discipline from leaf to auction.

Yet today, the same plantation sector that once fed our economy has collapsed to a shadow of its former self. And the most remarkable part is this: Sri Lanka has lost more than half its plantation tea output in thirty years – and as a nation, we barely noticed.

Because the fall in RPC production has been masked by the rise of tea smallholders, who expanded their output and kept Sri Lanka’s total annual production near the 250,000 metric ton mark. (In 1995, the total national output was 246,000 MT.)

The national figure stayed stable, and the illusion of a functioning plantation sector remained intact.

If production has fallen so dramatically, how is it that several plantation companies recorded billion-rupee profits and paid handsome dividends and bonuses?

The uncomfortable answer is this:

These profits were not earned by strengthening the estates – but by extracting value from a dying asset.

To control their Cost of Production (COP), RPCs reduced their resident workforce through golden handshakes and strict no-recruitment policies. The average age of an estate worker today is well above 45, and the sector has no young labour force willing to take up field work.

To compensate, many companies outsourced plucking, resulting in what any old-school planter would call unacceptable harvesting standards. The once-famous ‘two leaves and a bud’ became three, four, or five leaves – often without a bud at all. The raw material deteriorated, and so did the output.

Other consequences followed: