Category: Daily Financial Times

People’s Leasing and Finance PLC has announced the appointment of Dr. Isuru Manawadu as a Director to its Board, following the requisite regulatory approval from the Central Bank of Sri Lanka.

Dr. Manawadu is a distinguished academic and professional currently serving as a Senior Lecturer in the Department of Accounting, Faculty of Management Studies and Commerce, at the University of Sri Jayewardenepura, Sri Lanka. He holds a Ph.D. in Accounting from the University of Malaya, Malaysia, having completed his undergraduate studies at the University of Sri Jayewardenepura with a B.Sc. Accounting (Special) degree, where he was honored with the ACCA Gold Medal for outstanding academic and extra-curricular performance at the 2011 General Convocation. Professionally, Dr. Manawadu is a Fellow Chartered Accountant of the Institute of Chartered Accountants of Sri Lanka (admitted in 2014) and a member of the Association of Chartered Certified Accountants (ACCA-UK). His expertise covers a wide range of areas including international accounting, accounting quality, investment decision-making, forensic accounting, sustainability accounting, and taxation, and he teaches Financial Accounting, Corporate Reporting, International Accounting Standards, and Public Sector Accounting and Finance. Furthermore, Dr. Manawadu contributes significantly to national service, serving as a Board Member of the Api Wenuwen Api Fund under the Defence Ministry, and as both a Board Member and Audit Committee Member of the Shrama Wasana Fund under the Labour Ministry.

People’s Leasing and Finance PLC said his extensive academic rigor, professional credentials, and public sector experience will be a considerable asset to the Board’s governance and strategic oversight.

Following is the statement endorsed by the participants at the International Day for Universal Access to Information held in Manila, Republic of the Philippines on 29-30 September 2025.

In accordance with the 1948 Universal Declaration of Human Rights,

Recalling key international instruments, including the 1992 Rio Declaration, especially Principle 10, and the 2015 Paris Agreement, in particular its Preamble, which affirms the integration of human rights in climate action, and its Article 12, which promotes cooperation to enhance climate change education, training, public awareness, public participation and public access to information.

Underlining the importance of national and local implementation of the Rio Declaration (1992), we note the beneficial impact of its application in countries that are parties to the Aarhus Convention (1998) and the Escazú (2018) Agreement.

Further recalling the 1993 Vienna Declaration’s affirmation of the universality and interdependence of human rights, and its recognition that environmental harm disproportionately affects vulnerable populations.

Highlighting the Windhoek+30 Declaration, reaffirming information as a public good and underlining that its principles were endorsed by UNESCO’s 2021 General Conference.

Welcoming UN Human Rights Council Resolution 48/13 (2021) and UN General Assembly Resolution 76/300 (2022), recognising the right to a clean, healthy, and sustainable environment.

Acknowledging the Global Digital Compact (2024) as a forward-looking global framework that recognises the importance of responsible data governance in the context of environmental sustainability.

Noting the critical link between environmental rights and sustainable development, particularly in advancing SDG target 16.10, which calls for the adoption of statutory guarantees for public access to information.

Recalling the specific recommendations on adopting or strengthening access to information legislation made during the Universal Periodic Review (UPR) processes of the UN Human Rights Council.

Convinced that strengthening access to environmental information will reinforce human rights protections and advance sustainable development globally, including in Southeast Asia.

The participants of the Global Conference IDUAI 2025 hereby reiterate:

1. Access to environmental information is a cornerstone of environmental protection and sustainable development, including in Southeast Asia. In all regions facing accelerating environmental degradation, climate risks, and biodiversity loss, empowering people with timely, reliable, and accessible environmental information is essential to ensure informed decision-making, community resilience, and accountability.

2. Every person has the right to seek, receive, and use environmental information held by public authorities and, where relevant, private entities. This includes data on environmental quality, emissions, ecosystem status, and the potential risks posed by industrial and extractive activities, both on land and in the marine environment. Governments must proactively collect, publish, and disseminate such information through electronic and other accessible means, using culturally appropriate formats and languages, especially for vulnerable and marginalised groups.

3. Environmental information systems must be transparent, well-organised, and easily accessible, including for people with disabilities. Information should be released proactively or made available promptly upon request, with no undue restrictions on reproduction or use. Legal and administrative measures should also be introduced to enable public access to environmental information held by private sector entities, including through requirements for sustainability reporting, due diligence disclosures, and environmental impact assessments. We urge governments to ensure the independence of the oversight mechanisms and remedies to address denial of access, delays, or failures to release information.

We, hereby:

A) Welcome the proactive actions of the Association of Southeast Asian Nations (ASEAN) Intergovernmental Commission on Human Rights (AICHR) and ASEAN Member States towards the development of an ASEAN Declaration on the right to a safe, clean, healthy and sustainable environment, and welcome its upcoming consideration for adoption.

B) Encourage Member States to strengthen access to information, to define environmental information broadly, to establish public environmental information clearinghouses to serve as centralised, publicly accessible data repositories, and to develop clear dissemination frameworks with legally defined timelines and procedures.

C) Urge Governments to enact legislation requiring proactive publication of environmental threats and ensure that the grounds for denying access to environmental information are strictly limited to reasons permitted under international human rights law and subject to proportionality and necessity.

D) Promote access to environmental information for communities potentially affected by transboundary or high-risk activities, in accordance with international principles, including Principle 19 of the Rio Declaration, and in line with the right to free, prior and informed consent of Indigenous Peoples, as recognised in the UN Declaration on the Rights of Indigenous Peoples. This includes advance notice, full disclosure of risks and mandatory public participation of potentially impacted communities in environmental and social impact assessments for major projects, including cross-border consultations.

E) Recommend accelerating efforts to assist Small Island Developing States (SIDS) that do not have ATI legislation in adopting such legislation and developing implementation mechanisms that consider the recommendations provided by the Access to Information Model Law for SIDS.

F) Request to expedite the achievement of Sustainable Development Goal 16.10, ensuring public access to information and the protection of fundamental freedoms, given the urgent need to accelerate the adoption of access to information legislation in the more than 50 countries that still lack such laws. Member States must lead this global effort, ensuring that all people can meaningfully engage in protecting their environment and future. We further call for regular global monitoring of progress, with the UN system reporting annually on advances and gaps in access to environmental information worldwide.

G) Encourage all relevant stakeholders to join the Global Initiative for Information Integrity on Climate Change, co-chaired by the Government of Brazil, UNESCO and the United Nations, underlining the central connection between access to information and information integrity.

Over the weekend we had weather at its worst and best in the ongoing ICC Women’s Cricket World Cup matches in Colombo.

Saturday when Sri Lanka were down to meet defending world champions Australia turned out to be a damp squib as the weather pattern suddenly changed to produce one of the worst downpours forcing the match to be abandoned without a ball being bowled. The result was that Sri Lanka and Australia collected a point each. For Sri Lanka it was their first points on the board having lost their first match to India, while Australia went to the top of the table taking their points tally to 3.

Sunday saw the two cricketing giants of Asia, India and Pakistan clashing. Thankfully, the weather kept away even though there were dark clouds hovering around at the beginning, but gradually drifted away allowing for a full game to be played.

Never has the toss become the subject of discussion, since the men’s Asia Cup in the UAE last month. The refusal of Indian Captain Suryakumar Yadav to shake hands with his Pakistani counterpart Salman Agha and subsequently India’s rejection to accept the Asia Cup from the Asian Cricket Council (ACC) President Mohsin Naqvi, who is also the Pakistan Cricket Board Chairman and Interior Minister of the Pakistan Government, sparked off a series of criticism from past Indian cricketing stars and several other international cricketers from around the world.

In the Women’s Cricket World Cup game between India and Pakistan there was much expectation at the toss whether the Indian Captain Harmanpreet Kaur would extend her hand to her rival Fatima Sana. But unfortunately Kaur decided to follow her male counterparts and totally ignored her opposite number after the toss, thus extending the farce of not shaking hands into the World Cup.

No handshakes – Captains Harmanpreet Kaur and Fatima Sana at toss during India vs Pakistan match

If India is so emotional with what took place between the two countries at Pahalgam, why play Pakistan at all. There is no necessity to bring their emotions into the sporting field and make the game of cricket a circus for such inappropriate conduct. By doing so they are only spoiling the cricketing atmosphere that exists at such sporting events. Also with a worldwide audience following the Women’s Cricket World Cup what is the message that India is giving to the younger generation by such demeanour?

To come back to the game, Pakistan cut a sorry figure losing the contest to India by 88 runs to suffer their 12th successive loss to them in as many matches and their fifth at World Cups. The two points India gained from the win pushed them right to the top of the table with 4 points after 2 matches followed by Australia (3), England (2), Bangladesh (2) and Sri Lanka (1) with the other three countries yet to secure a point.

Strangely enough Sunday does not seem to be a good day for cricket for Pakistan in contests against India. They have lost four matches on consecutive Sundays – 14 September Asia Cup group match, 21 September Asia Cup Super-Fours, 28 September Asia Cup Final, and 5 October Women’s Cricket World Cup fixture.

The World Cup matches moved to Indore yesterday and to Guwahati today, before returning to Colombo for the Australia v Pakistan game on Wednesday at the R. Premadasa Cricket Stadium.

The fifth Annual General Meeting (AGM) of the All Island Dairy Association (AIDA) was recently held at The Ceylon Chamber of Commerce in Colombo, with Agriculture Minister K.D. Lalkantha as Chief Guest.

Speaking at the AGM, AIDA President Asoka Bandara thanked the Government for removing the Value Added Tax (VAT) imposed on fresh milk from the last Budget.

He explained the role of the AIDA, which represents the country’s leading dairy collectors and product processors, producers such as large- and medium-scale farms, service providers of the value chain, as well as milk importers.

He stressed that the Association as the main focal point is fully committed towards the country’s dairy development process and is a willing partner to support the Government in achieving these objectives in collaboration with public sector institutions and Governmental authorities.

AIDA stakeholders collect over 65% of the local milk produced predominantly by the rural dairy farming community, which produces the bulk of Sri Lankan fresh milk. Furthermore, some members have also invested and managed large- and medium-scale dairy farms and also represented by members involved in the importation of dairy equipment, powders, and other relevant inputs.

Bandara highlighted the current challenges for the dairy industry, including high taxation for investments in large farms, the need to upgrade small farmers to commercially viable mid-sized farms, to ensure availability of high-quality fodder and concentrates for cattle feeding, an integrated approach for artificial insemination of cattle, and to improve the progeny of Sri Lanka’s low-yielding cattle.

Minister Lalkantha added that the vision and objective of the Government and his Ministry are in congruence with the views expressed by the AIDA President.

Looking forward to the support extended in developing the industry through robust private-public partnerships, he also explained that making available State land for cultivation of fodder/maize could be carefully considered in an objective manner to alleviate the shortage of feed and feed ingredients.

As the AIDA produces only 40% of the nation’s fresh milk requirement, he welcomed the supportive gesture by the AIDA towards the Government’s dairy development endeavours. The Minister will also focus on improving herd quality through National Livestock Development Board (NLDB) intervention and to increase the much needed production of fodder and maize.

The AIDA will formally propose their action plan urgently to the Minister considering the impending national Budget timelines.

The meeting was graced by all top AIDA members and Ministry officials, including NLDB Chairman Dr. B.S.C. Perera, NLDB Deputy Chairman Dr. W.M.D.S. Wanninayaka, and leading NGOs involved in the dairy value chain.

The following members were elected to the AIDA Executive Committee for 2025/2026:

President: Asoka Bandara (Maliban Group).

Vice Presidents: Saranga Wijesundara (Kotmale Holdings PLC – Manufacturing and Processors); Sasanka Perera (Lanka Milk Foods (CWE) PLC – Producers and Collectors); Saman Perera (Fonterra Brands – Importers); and Andy Weerawan (Prima Group – Service Providers).

Exco Members: Mohamed Imtiaz (Hare Park Dairies Ltd.); Susantha Malwatte (Pelwatte Dairy Industries Ltd.); Upul Dissanayake (Access Agro Ltd.); Dr. Keerthi Gunasekera (Quadragen VetHealth Ltd.); Kevin Jansz (Watawala Dairy Ltd.)

Technical Committee: Chalindra Pathirana – (Nestle Lanka Ltd.) – (Chairman of the TC); Ruwan Kumara (Fonterra Brands Lanka); Manoj Gunathilaka (Access Agro Ltd.); Manoj Jayasundera (Rich life Dairies Ltd.)

Treasurer: Gamini Rajapaksa, Hypromac Engineering Services

Immediate Past President: Nishantha Jayasooriya, Richlife Dairies Ltd.

Consultant/GM: A.C.H. Munaweera

Secretariat:Gloria Hewapatha

When conducting the latest analysis of real estate data (Q3 2025), one of the most positive observations that can be made is with respect to the recovery of the apartment market prices in Colombo measured in USD. Whilst average apartment prices, measured in LKR continued to witness an upward incline, even during COVID and the economic crises, much of the trend is attributed to the unprecedented currency depreciation that took place in 2022. This rendered the LKR as limited in use as a tool to gauge property market trends, especially for an international investor. However, the recovery in USD and other major currencies is more impressive because it withstood the depreciation and has since compensated for the drop in value of the LKR. Simply put, if you purchased an apartment property in Colombo in 2021 in foreign currency, you experienced some volatility in prices during 2022/23 but by 2024/25, you are in positive capital gains territory.

A second striking observation with reference to the rise of Colombo 5 in terms of new apartment inventory, apartment price gains as well as the increase in land prices. In our comparative analysis of Colombo, the Colombo 05 area stands out as the all-round best performer.

With reference to Tier 2 and 3 luxury apartments, Colombo 5 price trends have continued to remain above the average for Colombo as measured on a per-sq.-feet basis. Whilst the entire market dipped in 2022 (in USD terms), the pace of recovery has been strongest in the Colombo 5 area.

It is also interesting to note that this vibrant part of the Colombo city is increasing its popularity amongst developers who are catering to the top end of the apartment market. This is illustrated by the upcoming supply that is targeting the upper end of the market.

A case in point, Fairway Holdings, who have already transformed the skyline of Rajagiriya, is now set to enter the Colombo 5 market with its upcoming project, Fairway Latitude, scheduled to launch in the coming months. The development will feature 176 units and is located on High Level Road, opposite Stafford Avenue.

Commenting on the market trend, Research Intelligence Unit CEO Roshan Madawela said, ‘The rise in popularity of this part of Colombo can be attributed to several key factors. Firstly, Colombo 5 provides its residents with some of the best social and physical infrastructure in the capital. For instance, the hospitals and international schools in this area makes it extremely attractive for the buy-to-live market, especially parents with kids or retired couples. Secondly, the centrality offered by this location makes it particularly attractive to tourists, extended stay tourists and the diaspora who visit the country regularly. Hence, property investors have invested and are reaping the benefits of improving rental yields.’

He added, ‘Barring any more external shocks, we expect the apartment market in Colombo to gather momentum from several positive factors that include the growth in tourism as well as the rise in incomes that are driven by economic growth.’ According to the latest data from RIUNIT, Colombo 5 is certainly leading the way in this connection.

The Sri Lanka Institute of Directors (SLID), in collaboration with the Association of Chartered Certified Accountants (ACCA) Sri Lanka, has announced the launch of the SLID – ACCA National Director Awards – a landmark initiative to honour exemplary leadership and governance excellence across Sri Lanka’s corporate sector.

The awards will recognise directors who demonstrate integrity, foresight, and impact, going beyond compliance to set new benchmarks in sustainable value creation and responsible

leadership.

A vision for governance excellence

In an era of rapid economic transformation, robust governance is critical to resilience and long-term growth. The National Director Awards have been established to:

Elevate standards of directorship and accountability.

Showcase role models who champion transparency, innovation, and stewardship.

Strengthen stakeholder trust and position Sri Lanka as a hub of responsible corporate leadership in the region.

National Director Awards Chair Rolf Blaser stated:

‘The National Director Awards have been introduced to recognise and celebrate directors who go beyond compliance to demonstrate how strong governance drives sustainable growth and long-term value. Our goal is to set new benchmarks that inspire responsible leadership and strengthen Sri Lanka’s corporate governance landscape.’

SLID Chairman Dinesh Weerakkody remarked:

‘As we commemorate SLID’s 25th Anniversary, the introduction of the SLID-ACCA National Director Awards constitutes a pivotal moment in our history. Our longstanding mission to advance governance standards in Sri Lanka is now extended through this awards program, which recognizes directors who personify integrity, strategic foresight, and tangible impact. We firmly believe that resilient economies are built on the foundation of strong boards. This initiative is designed to inspire future leaders to champion the principles of innovation, diversity, and accountability.’

ACCA South Asia Cluster Head Nilusha Ranasinghe added:

‘ACCA champions organisations that excel in sustainable business practices, highlighting the importance of transparency, accountability, and ethical conduct. Our collaboration with SLID underscores a shared commitment to nurturing directors who balance financial acumen with ethical stewardship-key pillars of sustainable prosperity.’

SLID Chief Executive Officer Anitra Perera emphasised:

‘The SLID-ACCA National Director Awards provide a platform that recognises and elevates the critical role of directors in shaping sustainable, future-ready organisations. This collaboration allows us to combine our shared commitment to governance and accountability, ensuring that Sri Lanka sets a benchmark for responsible leadership in the region.’

Award categories:

Will be presented across nine categories, including:

Outstanding Independent Non-Executive Director

Courage in the Boardroom

Greatest Impact on Corporate Boards

Innovation in Governance

Sustainability Leadership

Equity and Diversity Champion

Outstanding Young Director (Under 40)

Chair’s Award for Boardroom Excellence

Lifetime Achievement Award

Nominations open on 1 October and close on 31 October.

Eligibility:

Open to directors of Sri Lankan private and public companies, State-owned enterprises, and non-profit organisations. Submissions will be assessed by an independent judging panel comprising eminent leaders from business, academia, and civil society. For nomination details, visit: www.slid.lk

Awards Ceremony:

Winners will be honoured at a gala ceremony on 28 January 2026 at The Oak Room, Cinnamon Grand Colombo.

The national ceremony to mark World Habitat Day was held this morning (05) at Temple Trees under the patronage of President Anura Kumara Dissanayake.

Sri Lanka’s economic recovery will continue to be anchored on fiscal discipline, with the Government preparing a set of governance, legislative and digital reforms to strengthen stability and sustain growth into 2026, Treasury Secretary Dr. Harshana Suriyapperuma said yesterday.

Addressing the Annual Conference on Public Sector Reforms for Economic Revival organised by CA Sri Lanka and the Association of Public Finance Accountants, he said the administration is operating under tight timelines, with the budget cycle underway and the IMF’s fifth review in progress.

‘The good news is, as a nation, we are in a better place, much better than we were. One of the key reasons behind that achievement and the journey is the financial discipline. The present administration has implemented and is diligently following up on those lines to make sure we will continue the journey better than how it was before,’ he said.

The Treasury Secretary’s remarks come as the Central Bank reported the overall budget deficit for the first eight months of 2025 had fallen 54.9% year-on-year to Rs. 411 billion, compared with Rs. 911 billion a year ago.

Outstanding Government debt rose 3% in the first half of 2025 to Rs. 29.6 trillion, with domestic debt up 2.7% to Rs. 18.8 trillion and foreign debt up 3.8% to Rs. 10.8 trillion.

Treasury Bills outstanding fell 3.4% to Rs. 3.9 trillion while Bonds rose 6% to Rs. 14.9 trillion.

Dr. Suriyapperuma said that confidence was returning with businesses preparing to expand and foreign investors showing renewed interest. ‘Growth is taking shape, confidence is getting back into businesses to invest, for FDI to flow into the country, businesses to expand, capacity building at all levels to ensure ventures move to the next stage,’ the Treasury Secretary added.

Reforms, both ongoing and planned, will be central to meeting these expectations. ‘Some of the reforms, we are in the middle of those reforms and some of the changes to the legislations and certain reforms are expected also. These reforms are in terms of legislature, in terms of enhancements to the governance structure, enhancements to the reporting frameworks,’ he said.

Dr. Suriyapperuma cited the appointment of independent directors to State banks under a new framework as an example of governance improvements, noting that the initiative had the direct backing of the President and professional institutes.

‘There are many such reforms that have been implemented and we are in the process of continuing to implement,’ he added. Several new laws are being prepared for presentation to Parliament before the end of the financial year.

Strengthening capacity in the public sector, especially through professional qualifications and recognition of public finance accountants, was essential to improving governance and reporting. ‘We need to ensure team members have adequate capacity, understanding, continuous improvements and updates to their knowledge base,’ he said.

Digitalisation was also highlighted as a cornerstone of reform. ‘Another key element is the digital journey, to have seamless engagements to obtain government service, to have seamless access to publish finances, whether it is a working day or weekend 24-7, whether you are in Sri Lanka or outside Sri Lanka, to have access to services through digital means. This is the modern Sri Lanka that we were waiting for, that journey has begun.’

He said political, economic and social stability were converging to provide a stronger foundation for citizens and businesses.

Despite near-term gains, medium-term risks remain from Sri Lanka’s restructured debt. The IMF has warned that macro-linked Bonds could add between $ 150 million and $ 270 million annually to debt service from 2028 until 2038 if GDP exceeds certain thresholds. Once triggered, these payments would continue even if growth later slows.

‘In the case of Sri Lanka, the one-time adjustment nature of the macro-linked Bonds presents risks to Sri Lanka as higher payments after 2028, once triggered, would persist even if economic performance were to deteriorate thereafter,’ the IMF said in a September working paper.

However, the Treasury Secretary was upbeat.

‘We want to walk into 2026 with more confidence, with more opportunities, more options for citizens, businesses and enterprises, and the SME sector,’ he told the conference.

‘They can perform better, make more profits, hire more employees, in a modern Sri Lanka, a modern structure that is available for all, creating a level playing field for all businesses, whether they are competing from overseas or whether they are investors locally, to have the best products, invite best technologies, invite best capital pools to consider Sri Lanka as a vibrant destination for business engagements,’ the Treasury Secretary said.

Tourism Minister Vijitha Herath on Thursday clarified that the Government has no plans to promote LGBTQ tourism as part of its strategy, stressing that Sri Lanka’s focus is on building a ‘quality over quantity’ tourism industry rooted in the country’s culture, heritage, and hospitality.

Speaking at the International Tourism Leaders’ Summit (ITLS) held at the BMICH under the patronage of President Anura Kumara Disanayake, he said the sector’s recent growth proves the country does not need to compromise on cultural values to attract visitors.

‘Tourism is not just another industry; it is a reflection of our civilisation, nature and hospitality. The industry is growing rapidly, and against this backdrop, we don’t want to harm our civilisation by chasing quantity over quality. The growth in arrivals and foreign exchange has been achieved without such measures,’ the Minister said.

He said Sri Lanka welcomed 158,971 tourists in September, the highest monthly footfall ever and bringing year-to-date (YTD) arrivals to over 1.72 million. Tourism earnings for the first eight months reached $ 2.3 billion, with India, the UK, Russia, China, Germany, France, and Australia, leading source markets.

‘We are very happy how the industry has recovered and is growing. Our unique hospitality, deeply rooted in culture and civilisation, offers an authentic experience unmatched by any other country. We want to present this to the world, while contributing to our national growth targets,’ Herath said.

The Minister asserted that while Sri Lanka has no bias against travellers, the Government intends to upgrade tourism products and experiences to attract higher-spending visitors.

He also stressed the importance of research, innovation and programs designed to engage the younger generation and small and medium enterprises (SMEs) in shaping the sector’s future.

Guided by the Tourism Ministry, the program was jointly organised by the Alumni Association of Tourism Economics and Hospitality Management (AATEHM) of the University of Colombo, its Sustainable Tourism Unit (STU), the Department of Economics, University of Colombo, in collaboration with Sri Lanka Tourism Development Authority (SLTDA), Sri Lanka Convention Bureau (SLCB), Sri Lanka Association of Inbound Tour Operators (SLAITO) and Sri Lanka Institute of Tourism and Hotel Management (SLITHM).

The main objective was to enhance the contribution of the younger generation, especially in small and medium enterprises towards the future of the tourism sector.

The ITLS, held to conclude a month-long program marking World Tourism Day, gathered Ambassadors, High Commissioners, industry stakeholders, and scholars under the theme ‘Tourism Innovation and Connections for the Future of Sri Lanka’s Tourism Industry.’

At the summit, the tourism industry also unveiled the ‘Ruhunu Ring’, a landmark private sector-led initiative aimed at transforming Southern Sri Lanka’s tourism landscape. Branded ‘Culturally Wild,’ the 300-kilometre circuit connects premier attractions ranging from Yala and Udawalawe national parks to the Sinharaja Rainforest, Arugam Bay, Mirissa, Galle Fort and Kataragama.

The project seeks to raise average daily tourist spending beyond the current $ 170-180 by promoting immersive, experiential travel and encouraging visitors to engage with local communities.

Sri Lanka Tourism Chairman Buddhika Hewawasam hailed the initiative as a ‘key shift in product development,’ led by hoteliers and developers rather than the State.

Tourism advocate Yasas Hewage added that the ‘Ruhunu Ring’ is the first of five proposed thematic circuits, including wildlife, culinary, adventure and sports, and a future northern ring designed to reposition Sri Lanka as a premier destination.

The initiative was formally launched with the debut of its official website, providing an international digital gateway to market the circuit globally.

The event featured awards for school tourism competitions, a scholarly research forum and the first copy of ‘Vision2Voice’ magazine was also presented to President Disanayake, along with a research volume from the University of Colombo’s Sustainable Tourism Unit Prof. Suranga de Silva featuring the top 10 tourism studies.

President Disanayake awarded students, honoured industry veterans, and received a special memento during the event.

Labour Minister and Economic Development Deputy Minister Dr. Anil Jayantha Fernando, Energy Minister Kumara Jayakody, Tourism Deputy Minister Prof. Ruwan Ranasinghe, University of Colombo Vice Chancellor Prof. Indika Karunathilaka, AATEHM President Nihal Muhandiram, and several other dignitaries were present at the occasion.

The National Savings Bank (NSB) has approved a dividend of Rs. 6 billion to its sole shareholder, the General Treasury, following robust financial results.

The bank posted a Profit Before Tax (PBT) of Rs. 28.5 billion in 2024 and Rs. 25.5 billion during the first half of 2025, reflecting what officials described as operational excellence and strong governance.

This performance has enabled NSB to deliver one of the largest State bank contributions to Government coffers this year.

The official dividend notice was handed over to Treasury Secretary Dr. Harshana Suriyapperuma at the Finance, Planning and Economic Development Ministry.

The event was attended by Department of National Budget Director General Jude Nilukshan, NSB Chairman Dr. Harsha Cabral, PC, General Manager/CEO Shashi Kandambi, Chief Financial Officer Ajith Akmeemana, and Department of Public Enterprises Director Susantha Ranasinghe.