Category: Daily Financial Times

Rush Lanka Group has officially obtained the CIDA LB1 Grade – Property Developer certification, the highest level of recognition awarded for construction excellence in Sri Lanka.

Last year, the company held the LB4 Grade, and within a short period, it progressed to the LB1 Grade this year. This is an important milestone that shows the company’s continuous growth, strong performance, and commitment to excellence. It highlights the collective effort of the Rush Lanka team and the trust given by clients, partners, and stakeholders.

The Construction Industry Development Authority (CIDA) awards this certification to recognize the capability, reliability, and performance of property developers who meet strict national construction standards. Achieving LB1 status places Rush Lanka Group among the most qualified developers in the country and strengthens the company’s ability to take on ambitious, high-value projects.

According to CIDA, LB1-certified developers receive several advantages. The certification increases credibility and trust among buyers, investors, and financial institutions by showing that the developer follows strong quality and safety standards. It also creates a competitive edge, separating developers with proven expertise and strong operational systems from others in the market.

With this grading, developers can manage larger and more complex projects, including mixed-use and large-scale developments that require advanced technical skills and strong financial stability. Access to financing also improves, as banks and lenders prefer to work with companies that show a solid track record and reliable credentials.

From a regulatory perspective, the LB1 Grade reflects compliance with national construction standards under the CIDA framework, which can streamline dealings with approvals, permits, and

local authorities. For clients and property buyers, it offers assurance of quality, safety, and reliability, factors that build confidence and reduce uncertainty in real estate investment.

Regarding the company’s approach, Mr. Sabeer Iqbal, Managing Director of Rush Lanka Group, shares:

‘At Rush Lanka Group, we never cut corners. Marketing may attract clients, but it is the successful completion of every project and the credibility of our documentation that truly reassure them. All our certificates are available on our official website, reflecting our commitment to transparency. Over the years, satisfied homeowners have become our strongest ambassadors. Even internationally, clients choose us because we deliver on time, maintain transparency in pricing, and provide clear, reliable project details. These principles continue to set Rush Lanka apart in the industry.’

Earning the CIDA LB1 Grade underscores Rush Lanka Group’s expertise, reliability, and steadfast commitment to excellence, qualities recognized throughout Sri Lanka. With over 30 years of experience in delivering premium developments, the company ensures buyers’ confidence, peace of mind, and enduring value in every project.

Sri Lanka’s Armed Forces Remembrance and Poppy Day ceremony was held yesterday (16) at the Cenotaph War Memorial in Viharamahadevi Park, Colombo, under the patronage of Prime Minister Harini Amarasuriya.

Mercedes-Benz Fashion Week Sri Lanka (MBFWSL) returns from 19-23 November 2025, hosted at Cinnamon Life, marking the next chapter of a movement that has reshaped how fashion functions in South Asia. What began nearly a decade ago as a collaboration between AOD and DIMO, the only Authorised General Distributor for Mercedes-Benz in Sri Lanka, has grown into an ecosystem: one that connects design, education, industry, mobility, culture, and sustainability.

Here, fashion is not treated as surface or spectacle. It operates as system and structure, influencing livelihoods, identity, economic direction, and how a region expresses itself to the world. In this sense, ‘Design Beyond Glamour’ is not a theme, but a shift in how fashion contributes to society.

This year, the platform brings together over 80 emerging Sri Lankan designers and more than 15 designers from India, Bhutan, Bangladesh, and the wider region, reflecting a shared creative language that is proudly South Asian and globally relevant. Instead of presenting heritage as nostalgia, these designers reinterpret craft through innovation, ethics, and future-forward cultural confidence. Following are excerpts from the interview with AOD Founder Linda Speldewinde and DIMO PLC Director Rajeev Pandithage.www

Q: What movement does Mercedes-Benz Fashion Week Sri Lanka represent today?

Linda: Fashion here is not just expression, it is economic participation, cultural authorship, and confidence. Over nearly twenty years, we’ve built pathways from education to industry to global visibility. The runway is simply where that story becomes visible. It’s a system, not an event.

Rajeev: At Mercedes-Benz, design has always been the core of identity, not styling, but the engineering of emotion and purpose. When we see fashion in that same frame, it becomes clear why Mercedes-Benz is part of this movement. They share the same principles: precision, responsibility, innovation, and emotion. MBFWSL is where those principles come together in a South Asian context.

Q: Your partnership has lasted almost a decade. What makes it enduring?

Rajeev: We recognised alignment early. Mercedes-Benz has a heritage of championing innovation and design that move the world forward, while AOD nurtures the next generation of Sri Lankan talent to do the same. What began as a collaboration has evolved into a powerful platform that gives designers and young creatives in Sri Lanka the space to showcase, connect, and shape the industry’s future.

Linda: It is a partnership rooted in shared belief: that creativity is not an accessory, it is an economic and cultural force. Together, we’ve helped shape a globally relevant design identity for Sri Lanka and for a region that is beginning to define itself on its own terms.

Q: ‘Design Beyond Glamour’ is the 2025 lens. How does it shape this year’s platform?

Rajeev: For us, it reflects the essence of Mercedes-Benz: intelligent luxury. Beauty that serves meaning. Expression that respects people and planet. Design that is as thoughtful as it is inspiring. That’s what we hope to encourage through this platform, a culture of creating with purpose and bringing to life the true essence of design

Linda: Our designers today create with accountability, to their communities, to craft systems, to the environment. Their work is emotional and aesthetic, yes, but it also supports livelihoods and futures. That is design beyond glamour.

Q: This year, several shows are being directed in collaboration with designer Amesh Wijesekera. Why is his involvement meaningful?

Linda: Amesh represents proof of what this movement makes possible, Sri Lankan-born, globally recognised, yet rooted here. His work captures the evolution of South Asian fashion: heritage transformed through fearless experimentation. His journey shows what happens when creativity meets ecosystem support, not isolation.

Rajeev: Mercedes-Benz Fashion Week Berlin launched his international career. Being able to facilitate that from Sri Lanka makes us proud and we want more designers to have that trajectory and we are happy for him.

Q: How do you see Colombo’s role within this new South Asian creative landscape?

Linda: We are at a moment where South Asia is not borrowing identity, it is defining it. Colombo is increasingly where that identity is articulated and exported.

Rajeev: Colombo is becoming a meeting point, a crossroads where regional talent exchanges ideas, aesthetics, and ambition. That aligns well with Mercedes-Benz’s view of design as a connector of people and futures.

Q: What can audiences expect this year beyond the runway?

Linda: The Mercedes-Benz Future Talks return, a series developed with trend and cultural insight partners that explores how we will live, move, eat, build, and express identity in the next decade. They bring together global designers and cultural voices to examine design as lifestyle, human experience, and future readiness. It reflects Mercedes-Benz as not just an automotive brand, but a design and cultural brand.

The David Pieris Group, one of Sri Lanka’s largest and most diversified conglomerates, has announced a strategic partnership with HelaGo, the revolutionary ride-hailing platform introduced by the Helakuru Superapp, to jointly advance a fair, transparent and locally empowered mobility ecosystem in Sri Lanka.

The partnership agreement was officially signed between David Pieris Motor Company (Lanka) (DPMC Lanka) and the HelaGo management at the David Pieris Group Head Office in Battaramulla recently, marking an important milestone in modernising Sri Lanka’s transportation landscape.

From its humble beginnings in the automotive industry, the David Pieris Group has grown into one of Sri Lanka’s most respected and diversified business groups. With a proud legacy spanning over four decades, the Group today comprises 30+ companies across multiple sectors including automotive products and services, financial services, insurance brokering, logistics, ICT, real estate, renewable energy, leisure and racing, shipping and marine services. Its commitment to innovation, inclusivity and sustainable mobility continues to shape Sri Lanka’s transportation landscape.

In addition to its extensive operations in Sri Lanka, the David Pieris Group has expanded its presence internationally, establishing operations in Dubai, Indonesia, the Philippines and Singapore.

HelaGo, launched under the Helakuru Superapp ecosystem by Bhasha Lanka Ltd, is designed as a ‘fair and open’ ride-hailing platform that empowers both drivers and passengers. It introduces a fresh economic model to the industry, one that moves away from top-down, algorithmically controlled pricing and instead fosters a transparent, demand-and-supply-driven environment.

In HelaGo, fares naturally reflect real market conditions at a micro level, giving drivers the opportunity to earn fairly within a reasonable range while allowing passengers to make informed choices that suit their needs. By restoring balance, transparency and mutual consent to the core of the ride-hailing experience, HelaGo aims to create a more sustainable and equitable mobility ecosystem for Sri Lanka.

The platform supports multiple payment methods including cash, card and HelaPay-the integrated digital wallet within the Helakuru ecosystem-ensuring simple and secure transactions. With millions of existing Helakuru users, HelaGo is strongly positioned for rapid nationwide adoption, bridging affordability, accessibility and fairness to create a more inclusive mobility experience.

HelaGo Chairman and Helakuru Founder Dhanika Perera said: ‘We are honoured to partner with David Pieris Motor Company (Lanka), a name that has earned the trust of Sri Lankans for decades. Together, we are introducing a new chapter in mobility, one that is fair, transparent and truly empowering for every passenger and driver.’

DPMC Lanka Executive Director Samantha Silva said: ‘DPMC has always been at the forefront of shaping Sri Lanka’s mobility landscape with reliable, value-driven and innovative solutions. Our partnership with HelaGo reflects our shared vision of empowering customers and transport providers alike through affordable, technology-enabled mobility options.’

This collaboration is strengthened by the natural synergies between the two organisations. The David Pieris Group brings unparalleled expertise in mobility solutions, an extensive ecosystem, nationwide distribution and sales networks, financial services, strong global relationships across markets and much more.

HelaGo, on the other hand, contributes advanced digital capabilities, a widely trusted local application ecosystem, deep insights into Sri Lankan consumer behaviour and a rapidly expanding user base. Together, these synergies create a strong foundation for joint innovation across multiple strategic areas.

The combination of David Pieris Group’s mobility and operational strengths with HelaGo’s digital and customer-centric capabilities opens the door for the partnership to evolve into a robust, future-ready mobility ecosystem, one that can grow not only within Sri Lanka but also potentially expand into regional markets through the David Pieris Group’s international presence.

This collaboration brings together David Pieris Group’s deep expertise in automotive and mobility solutions with HelaGo’s cutting-edge digital innovation, setting the foundation for a more inclusive, sustainable and future-ready transportation ecosystem in Sri Lanka.

This season, the lights are low, the music is loud, and the curtain is rising on a Christmas like no other. ODEL presents ‘The Stage Is Set’ – a rock ‘n’ roll celebration of glamour, attitude, and individuality. Think glimmering lights, velvet nights, and the unmistakable pulse of a show about to begin. Something special is unfolding across our stores, and we invite Sri Lanka to come see what happens when Christmas is turned all the way up. It’s Christmas – amplified. Step in and feel it.

ODEL’s Christmas 2025 Women’s collection is fluid, fierce, and fearless, bringing a magnetic mix of confidence and sensuality. It celebrates women who command the room and live unapologetically in the spotlight.

This season is an invitation to move, dance, and shape your own moment. Rich silks, luminous satins, sequins that shimmer like stage lights, and textured dobbies that catch the rhythm all take

their turn in the spotlight. The palette is festive and bold, with leopard prints and stripes, flowing viscose and rayon silhouettes, and a sense of freedom woven into every piece.

At ODEL, trends meet emotion. Every look is a moment, a performance, an act of self-expression.

This wardrobe is a celebration and a true showstopper.

For him, the show starts with a hush. The men’s holiday edit channels a subtler glamour that is timeless, tactile, and confidently understated. Inspired by classic rock icons who mastered the art of ‘less is more,’ the collection plays with depth, texture, and tone-on-tone shimmer rather than heavy sparkle.

Expect a refined palette of black, white, and red cut from Jacquard, Herringbone, Twill, and Seersucker, creating movement and sophistication. Polka dots and fine line art details add playful charm, while the overall aesthetic stays grounded in quiet luxury. This is festive dressing that smoulders.

ODEL no Christmas would be complete without one more hit from Delight – the gifting range.

The much-loved sweet stop returns with indulgences worthy of an encore – traditional Christmas cake, mince pies, Breudher, Yule logs, macarons, brownies, and an all-new range of handcrafted chocolates. Treat family and friends or share the joy with ODEL’s curated gifting range: cocktail-making sets, scented candles, seasonal ornaments, and home décor pieces that wrap luxury and personality into every box.

Softlogic Holdings PLC Group Director Marketing Desiree Karunaratne said: ‘At ODEL, Christmas has always been a dramatic statement. ‘The Stage Is Set’ is our boldest celebration yet, created to let every shopper own their spotlight. Whether you’re dressing to dazzle or gifting to delight, we’ve curated this experience with heart, flair, and unapologetic joy.’

ODEL PLC Chief Executive Officer Terry O’Connor said: ”The Stage Is Set’ goes beyond the creativity of our Christmas collections. It signals a wider transformation taking place across ODEL. We have sharpened our brand mix, expanded our ranges, and upgraded key parts of the store environment to feel more immersive and inspiring. This work sets up our most impactful Christmas calendar yet, filled with moments that will surprise, delight, and reward our customers throughout the season. The stage is set for a remarkable shopping experience at ODEL, and we look forward to welcoming everyone to enjoy the magic.’

In a dynamic show of partnership between sport and style, Vantage, the flagship brand of Ebony Holdings Ltd., has joined hands with Ceylonese Rugby and Football Club (CR and FC) as the Main Sponsor for the 2025/26 rugby season. The official jersey launch, held at the CR and FC Grounds in Colombo 07, celebrated a renewed commitment to strengthening Sri Lanka’s rugby culture through the enduring values of courage, unity, and teamwork.

Furthermore, Vantage unveiled 250 limited-edition premium shirts exclusively for CR and FC members, showcasing the brand’s craftsmanship and the club’s prestige. Proceeds from the initiative support CR and FC’s rugby development, celebrating tradition and the shared spirit of excellence that defines this enduring partnership.

The event, attended by distinguished guests including CR and FC President Tikiri Ellepola, representatives of Sri Lanka Rugby, sponsors, and members of the media, marked a milestone moment in the Club’s rich sporting heritage. The evening featured the unveiling of the official team jersey, sponsor felicitation, and special addresses from partner representatives, setting the tone for a spirited new season of rugby. This collaboration reflects Vantage’s commitment to promoting local sports and supporting the passion, strength, and teamwork that define the game of rugby.

Speaking at the event, Ebony Holdings Deputy Director Umar Rasmy shared his thoughts on the collaboration:

‘Rugby is a sport built on courage, unity, and determination, values that resonate strongly with who we are as a brand. Our partnership with CR and FC is about energising the game and empowering players to perform with pride for the betterment of the nation.’

Also present were representatives from the Club’s co-sponsors, Asia Security Group, TVS Lanka Ltd., Sport Nutrition Hub Ltd., and Fintrex Finance PLC, each contributing to the shared vision of uplifting Sri Lankan rugby.

As the CR and FC players take the field this season clad in Vantage colours, the partnership stands as a celebration of passion, precision, and performance, both on and off the field.

Lee Hedges PLC has appointed Ananda Rajiv Walpita to its Board as an Independent Non-Executive Director.

Walpita is an Associate Member of the Institute of Chartered Accountants of Sri Lanka and an Associate Member of the Chartered Institute of Management Accountants, UK. He is also a Registered Company Secretary.

He counts over 35 years’ experience in the Accounting and Company Secretarial fields. In addition to being engaged in providing company secretarial services to many clients both in Sri Lanka and overseas, he is a Director of The Centre for the Advancement of Resource Mobilisation and Country Representative of Credit Check Partners of Mumbai.

Dialog Axiata PLC announced strong results for the nine months ended 30 September 2025, across its Mobile, Fixed Line and Digital Pay Television businesses, achieving positive revenue growth of 6% year-to-date (YTD) to reach Rs. 133.1 billion for the first nine months of 2025.

This was despite the continued strategic scaling down of its low-margin international wholesale business. Core revenue for the period reached Rs. 128.9 billion up 18% YTD. On a quarter-on-quarter (QoQ) basis, revenue increased 4% to Rs. 45.7 billion, driven primarily by data revenue expansion.

Group Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) recorded a growth of 40% YTD to Rs. 62.9 billion in 2025, with EBITDA growing by 8% QoQ to Rs. 22.5 billion. The strong performance reflects both revenue growth and operational efficiencies, the company said. The EBITDA margin improved by 11.3 percentage points compared to the same period in 2024, reaching 47.3%, marking a significant recovery and surpassing pre-crisis margin levels.

Group Net Profit After Tax (NPAT) was recorded at Rs. 14.9 billion in 2025, more than doubling YTD. QoQ NPAT grew by 12% to Rs. 5.7 billion, supported by improved EBITDA. In line with improved operational performance, Operating Free Cash Flow (OFCF) improved by 92% YTD to Rs. 37.1 billion.

At the entity level, Dialog Axiata PLC (the ‘Company’) continued to account for a substantial share of Group performance, contributing 76% of Group Revenue and 74% of Group EBITDA. Company revenue reached Rs. 100.1 billion for YTD 2025 and Rs. 35 billion for Q3 2025, up 22% YTD and 4% QoQ, driven by growth in Data and Voice segments. Profitability improved significantly, with Company EBITDA rising to Rs. 46.5 billion for YTD 2025 and Rs. 17 billion for Q3 2025, up 53% YTD and 11% QoQ. Supported by this EBITDA performance, Company NPAT was recorded at Rs. 11.3. billion for YTD 2025 and Rs. 4.4 billion for Q3 2025, reflecting over 4x growth YTD and 10% QoQ.

Dialog Television (‘DTV’) consolidated its leadership position in the Digital Pay Television market, maintaining a subscriber base of over 1.6 million as of end-September 2025. DTV revenue reached Rs. 9.7 billion for YTD 2025 and Rs. 3.3 billion for Q3 2025, up 8% YTD and 2% QoQ. Growth was supported by higher Subscription and Advertising revenues. DTV EBITDA grew 37% YTD to Rs. 2 billion for YTD 2025; however, NPAT was recorded at a negative Rs. 0.5 billion for the period improving 29% YTD.

Dialog Broadband Networks (‘DBN’), encompassing the Group’s Fixed Telecommunications, Broadband, and International Businesses, posted revenue of Rs. 25.9 billion for YTD 2025 and Rs. 8.5 billion for Q3 2025, down 32% YTD and up 2% QoQ. This YTD decline was primarily due to the scaling down of low-margin international wholesale operations. Nevertheless, DBN EBITDA increased 15% YTD to Rs. 14.4 billion for YTD 2025, driven by growth in Broadband business. NPAT recorded a growth of 51% YTD to Rs. 4.3 billion.

Dialog Group remained a major contributor to national revenue, remitting Rs. 41.9 billion to the Government YTD 2025. This comprised Rs. 9.3 billion in Direct Taxes and Levies, and Rs. 32.6 billion in Consumption Taxes collected on behalf of the GoSL.

The Group continued to invest in broadband and ICT infrastructure to ensure seamless customer experience and maintain market leadership. Capital expenditure on digital infrastructure amounted to Rs. 14.2 billion for the first nine months of 2025.

Dialog has expanded its 5G trial network to cover 15 districts across Sri Lanka, reaffirming its leadership in next-generation connectivity and its commitment to advancing the nation’s digital transformation. With this expansion, Dialog continues to operate Sri Lanka’s largest 5G trial network, providing extensive coverage across all regions of the country.

The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) has recently announced that the 5G spectrum auction will take place towards the end of the year, marking a key milestone in enabling the nationwide commercial rollout of 5G services.

Following the merger announcement in July 2024, Airtel’s integration was completed seamlessly, with network integration achieved within just 100 days and full IT integration finalised by July 2025. The process, executed entirely in-house, delivered early operational synergies with no loss of revenue or customers.

In Q3 2025, Dialog was honoured with three prestigious titles at LMD’s Awards Night 2025, recognising the company’s continued market leadership, brand excellence, and unwavering commitment to delivering superior service experiences while fostering meaningful relationships with Sri Lankan consumers and businesses alike. The accolades included recognition as Sri Lanka’s No. 1 Service Brand for both 2024 and 2025, as well as recognition as one of the nation’s leading corporate brands in 2025.

Further reaffirming its leadership in corporate responsibility, Dialog also received the National Award for ‘Best DEI Initiative’ at the DEI Champions Awards 2025, organised by the Ceylon Chamber of Commerce. This honour underscores the company’s long-standing commitment to cultivating an inclusive workplace where every individual is valued, supported, and empowered to thrive.

Havelock Park witnessed a fantastic opener for the Inter Club Rugby League 2025/2026 last evening as Havelock SC and Navy SC played out a thrilling 31/31 draw.

At the short breather it was the Sailors who were leading 24/10.

Navy SC accumulated their 31 points through four tries, four conversions, and a penalty, while the hosts crossed the whitewash five times and added three conversions. The evenly matched scoreboard reflected a contest filled with momentum swings and individual brilliance on both sides.First half belonged to the Sailors who put up a brave effort but the latter half it was the Park Club domination and never give up attitude was witnessed.

The opening half showed Navy SC’s growing reputation as a side to watch this season. Often underrated by rival clubs, the Sailors produced a commanding first-half performance built on structure, discipline, and precision. They surged ahead to a 24/10 lead at the break, demonstrating exceptional composure under pressure.

Their attack was sharp and clinical as skipper Denuwan Wickremarachchi powered over for two tries, while Isuru Perera and Isuru Conghawatte added one each. Conghawatte contributed significantly off the tee, converting all four tries and slotting in a well-struck penalty. Navy’s ability to sustain pressure and exploit gaps served notice that they intend to be major contenders this season.

Havelock SC, however, refused to be overshadowed. Although they managed only two unconverted tries in the first half, the Park Club regrouped superbly after halftime. With renewed purpose, they unleashed a relentless assault, scoring 21 points through tries by Abdullah Faiz, Ajmir Fajudeen, Jayathu Rajarathna, Theekshana Dassanayake, and Chatura Dilshan, with skipper Sandesh Jayawickrema adding three conversions.

Just when Havies seemed poised to snatch victory, Navy produced a final surge. In the dying moments, the Sailors struck with a decisive try and conversion to level the scores, showcasing resilience and belief. Wickremarachchi, Conghawatte, and Thilina Weerasinghe were standouts for Navy, while Rifan, Fajudeen, and Jayawickrema impressed for the hosts.

Referee Gihan Yatawara controlled the game which was played in semi darkness towards the late second half before the Park Club lights were switched on.

Today there will be two more matches down for decision. Sri Lanka Air Force will host Sri Lanka Army while in the other game Sri Lions SC will be the hosting team against CR and FC at Longdon Place.

Warren Buffett will step down as CEO of Berkshire Hathaway at the end of 2025, ending a leadership run of more than 60 years. The 95-year-old investor, born on 30 August 1930, transformed Berkshire from a failing textile operation into a US conglomerate valued at about $ 880 billion, with interests in insurance, rail, utilities, energy, retail, and manufacturing. His reputation as the ‘Oracle of Omaha’ and his disciplined, value-oriented approach shaped modern investing.

Buffett will retire as CEO on 31 December 2025, and Vice-Chairman Greg Abel will assume the role on 1 January 2026. Buffett will stay on as board Chairman, while Abel, who has overseen all non-insurance businesses since 2018, continues managing operations.

Berkshire’s cash reserves stand at roughly $ 382 billion, the largest corporate cash position in the US. Apple Inc. remains the company’s biggest equity holding despite recent reductions. Buffett’s lifetime charitable giving now exceeds $ 60 billion, including a $ 1.3 billion contribution in November 2025 to four family foundations.

Buffett’s annual letters, partnership with Charlie Munger, and long-term investment philosophy have had enduring influence on markets, corporate governance, and philanthropy.