Category: Daily Financial Times

Medical and Civil Rights Doctors’ Trade Union Alliance Chairman Dr. Chamal Sanjeewa yesterday said that while the Health Ministry and the State Pharmaceuticals Corporation (SPC) continue to assure that the ongoing medicine shortage will be fully resolved by early 2026, hospitals across the country are now facing an oversupply of nearly 100 drug varieties alongside acute shortages of essential medicines and surgical items.

He said the simultaneous surplus and scarcity of drugs reflect a serious breakdown in administrative and political oversight within the health sector.

According to him, senior Health Ministry officials, including those who served during the tenure of former Minister Keheliya Rambukwella, are responsible for the mismanagement, while the present Minister and the SPC must also be held accountable for failing to correct it.

Despite multiple Cabinet decisions to stabilise drug supplies, Dr. Sanjeewa said the situation continues to worsen. Hospitals are currently running short of key items such as IV Noradrenaline, IV Cefotaxime, IV Amikacin, Clarithromycin, Levofloxacin, Adenosine, Sodium Nitroprusside, Verapamil, Isoprenaline, Protamine Sulphate, Promethazine, GTN, and Salbutamol oral solution. Shortages have also been reported in surgical materials including prolene, polypropylene, nylon sutures, and knee implants.

He said dwindling stocks at the Medical Supplies Division and major hospital pharmacies are directly affecting patient care. Allowing regional or emergency purchases, he warned, could lead to financial losses and irregularities.

Dr. Sanjeewa accused the Health Ministry Secretary of enabling such regional procurements for over a year in what he described as an attempt to mask deeper administrative failures. He said the Government still lacks a coordinated and transparent strategy to secure essential medicines at competitive prices.

He further alleged that the SPC and the National Drug Regulatory Authority continue to operate without accountability, contributing to inefficiencies and worsening supply disruptions. The Alliance of Doctors and Civil Rights Trade Unions has raised concerns that these institutions may be bypassing national procurement procedures through selective Cabinet approvals.

Dr. Sanjeewa said the Alliance intends to take legal action over several procurement-related issues that it believes have caused financial and operational harm to the public health system.

Sri Lanka’s seasoned campaigner Nadaraja Thangaraja produced a composed effort to capture the Bengaluru Open 2025 powered by IndianOil title at the Karnataka Golf Association (KGA) course recently.

Thangaraja finished at an impressive 18-under-par, sealing a two-stroke victory and marking a triumphant return for the tournament after a six-year hiatus. His steady approach and ability to hold his nerve through the back nine ensured that the overnight leader never lost control of the contest, reaffirming his reputation as one of South Asia’s most consistent professionals.

Indian Manu Gandas amounted a strong challenge to secure the runner-up position at 16-under-par. Gandas, known for his attacking style, fired a flurry of birdies on the front nine to narrow the gap, but couldn’t quite overtake Thangaraja.

Veteran Rahil Gangjee delivered the standout final with a sizzling 64, climbing an astonishing 13 spots to finish tied-third at 13-under-par. Gangjee’s round featured a near-flawless display of putting and iron play, evoking memories of his prime years on the Asian Tour. His late surge added excitement to the final day and reminded the field of his enduring quality and experience.

Joining Gangjee in third was the talented Saptak Talwar, who carded a steady 67 to match the 13-under total. Talwar’s consistency across all four days showcased his composure and promise as a rising name in Indian golf. His ability to handle pressure and stay within striking distance of the leaders was commendable.

Rounding off the top five was Manoj S., who shot a fine 66 to finish at 12-under-par. Manoj’s disciplined approach and confident shot-making earned him a well-deserved top finish, underlining the depth and competitive spirit of Indian golf at the Bengaluru Open 2025. (SJ)

Hayleys PLC has been ranked as Sri Lanka’s leading listed corporate in the 32nd edition of the LMD 100, securing the no. 1 position for the 10th time since the ranking’s inception in 1995. This recognition underscores the Group’s longstanding role as a centrepiece of the Sri Lankan economy and a benchmark of resilience, innovation, and sustainable value creation.

For the financial year 2024/25, Hayleys achieved a record-breaking consolidated revenue of Rs. 492.2 billion, reflecting a 13% year-on-year (YoY) increase and marking the highest in the Group’s 148-year history. Profit Before Tax (PBT) rose to Rs. 35.4 billion, a growth of 40%, while Profit After Tax (PAT) reached Rs. 22.5 billion, representing a 52% increase compared with the previous year.

An export income of $ 685 million contributed 53% of the Group’s total revenue, while reaffirming Hayleys’ role as a key driver of foreign exchange earnings.

The Group continues to be one of Sri Lanka’s largest private sector employers, with a workforce of 38,000, while supporting over 27,000 indirect livelihoods across its value chains. In 2024/25, Hayleys contributed Rs. 152 billion in cumulative economic value through payments to the Government, employees, lenders, and nearly 13,000 shareholders.

Hayleys has a diversified presence across 16 industry verticals and operations in over 20 countries. Its export leadership includes serving close to 5% of global demand for household and industrial, supported and unsupported rubber gloves, and a commanding 16% global market share in coconut shell-based activated carbon. The Group is also Sri Lanka’s largest manufacturer and exporter of fabric, aluminium extrusion profiles, processed fruits and vegetables, hybrid flower seeds, and tissue culture plants.

Hayleys PLC Chairman and Chief Executive Mohan Pandithage said: ‘Securing the no. 1 position in the LMD 100 for the 10th time reflects not only our financial strength, but also the dedication of our teams across Sri Lanka and in over 20 countries of operation. This recognition belongs to our 38,000+ employees and the many thousands of small-scale partners who power our value chains. Their unwavering efforts are the foundation for our continued progress in innovation, diversification, digital transformation, and Environmental, Social and Governance (ESG) integration.’

‘At Hayleys, our mission has always been clear – to earn for the country, empower communities, and create enduring value for stakeholders. With Sri Lanka’s macroeconomic conditions showing signs of stabilisation, we remain confident in the opportunities ahead and will continue to invest in progress that strengthens both the nation and our Group,’ he added.

As one of Sri Lanka’s most socio-economically impactful organisations, Hayleys has long championed inclusive business models that connect rural smallholder communities to global markets. From training and fair buyback agreements for agri farmers, to the ‘First Light’ program for rubber smallholders and the ‘Harith Angara’ initiative empowering coconut-based charcoal suppliers, the Group embeds fairness, sustainability, and security into its value chains. These partnerships, recognised internationally for their social impact, ensure that economic growth is not only export-driven but inclusive, strengthening livelihoods across Sri Lanka.

The Group also retained its national long-term rating of ‘AAA (lka)’ from Fitch Ratings in March 2025, reflecting disciplined governance and strong balance sheet management. Reinforcing its sustainability commitments, 74% of the Group’s energy consumption is now derived from renewable sources, driving a 14% reduction in greenhouse gas emission intensity (Scope 1 and 2) over the past year.

The Bar Association of Sri Lanka (BASL) has expressed deep concern and outrage over the assault of an attorney-at-law by a Police officer within the Mount Lavinia Court premises, calling the incident ‘inexplicable’ and urging the Inspector General of Police (IGP) to ensure such acts do not recur.

Issuing a statement, the BASL said: ‘The BASL expresses its utmost outrage in relation to the incident that took place today (10 October) within the Mount Lavinia Court premises where an Attorney-at-Law was assaulted by a Police officer.

The BASL has always stood firmly against the use of force by Police officers against any person.

In that context, this incident is inexplicable.

The officer concerned has now been remanded and the BASL will closely monitor this matter.

The BASL calls upon the IGP to take all necessary steps and measures, not only to address this matter at hand but also to ensure that such incidents will not take place in the future.’

Janashakthi Life has been reassured confirming its governance, trust, stability and performance with the award of A- credit rating by Lanka Rating Agency. This independent recognition highlights the company’s strong financial position, commitment to transparency and long-term stability.

As Janashakthi Life proudly celebrates 31 years of operations during the month of September 2025, which is also the Insurance Month, this milestone comes at a pivotal time for the company. Having outpaced the industry as the fastest-growing insurer in Q1 2025 with a 49% growth in Gross Written Premium and having exceeded key industry benchmarks across First Year Premium, Long-term Business, Gross Written Premium, and New Business during the first half of the year, this recognition further underscores the insurer’s strong and sustained growth development.

The A- rating reflects Janashakthi Life’s robust governance framework, ensuring transparency, accountability, and adherence to industry best practices. Its professional management, guided by an experienced leadership team and well-defined processes, enables the company to navigate challenges effectively while pursuing sustainable growth. The company’s unwavering commitment to creating long-term value for policyholders and stakeholders underscores its focus on financial stability, customer-centric innovation, and ethical business conduct. Collectively, these factors reinforce Janashakthi Life’s resilience, positioning it as a trusted and responsible player in the insurance sector. The risk-based Capital Adequacy Ratio demonstrates strong organic capital generation, exceeding industry benchmarks without reliance on external support, and highlights the strength of the internal risk management framework and the company’s ability to sustain capital growth. In parallel, consistent investment yields continue to outperform industry norms, underscoring superior investment management capabilities. The improvement in leverage ratio further demonstrates enhanced financial discipline and sound risk management practices. Based on the current trajectory, Janashakthi Life is positioned within the next 2-3 quarters to achieve an expense ratio that places the company at the forefront of industry efficiency, reinforcing both our competitive pricing power and operational excellence.

Janashakthi Insurance PLC Director/CEO Ravi Liyanage commented on the achievement, stating, ‘Janashakthi Life’s robust foundations are reaffirmed by this strong credit rating. It is an acknowledgement of our steadfast dedication to transparency, stability and customer trust, ensuring our policyholders that their policy benefits are secure in the long run due to our long-term focus to deliver on our every promise in protecting our policyholders and their family’s future. This milestone is a celebration of our journey as a homegrown brand and a testament to the continued faith that our customers have in us.’

Adding to this, Janashakthi Insurance PLC Chief Financial Officer Jude Shanmugam stated, ‘Our strong financial management procedures and ability to withstand a challenging operating environment are reflected in our A-rating. It strengthens stakeholder trust in the company’s capacity to fulfill its commitments and justifies our approach of promoting sustainable growth. Further, Janashakthi Life, recorded strong results for Q2 YTD 2025, continuing its growth momentum. First-year premiums grew by 61% year-on-year, reflecting agility in a challenging economic climate. Regular long-term business rose by 32%, strengthening long-term customer value and steady income streams. Gross Written Premiums (GWP) increased 27% to Rs. 3,769 million, positioning the company as a sector outperformer. Net profit surged 70% to Rs. 1,318 million from Rs. 777 million last year, while total assets climbed to Rs. 40 billion by end-June 2025, reinforcing its solid financial base and growth capacity.

The A- rating reflects not only Janashakthi Life’s robust financial performance but also the dedication of its team, whose efforts have reinforced the company’s position as one of Sri Lanka’s most trusted life insurers. As Janashakthi Life marches its three-decade journey, the company remains committed to building long-term value by staying true to its core values integrity, collaboration, respect, performance driven and innovation.

SriLankan Airlines and Saudia Airlines have renewed and expanded their interline agreement, strengthening the long-standing partnership between the two national carriers.

The updated arrangement links 13 international destinations within Saudia’s network and 13 domestic points across Saudi Arabia to Sri Lanka and onward connections operated by SriLankan Airlines.

In a statement, SriLankan Airlines said the renewed partnership offers passengers across Saudi Arabia improved travel convenience, better connectivity, and a wider range of route options across both airlines’ networks.

Playdium, a bowling and entertainment arena in Sri Lanka hosted the inaugural Playdium Pin League (PPL) recently, marking a significant advancement in the nation’s sporting and leisure landscape.

The debut tournament brought together 22 teams comprising more than 100 corporate and open players, all competing on Brunswick Champion standard bowling alleys, the same technology utilised in leading international tournaments. The event generated a dynamic atmosphere, drawing attention to bowling’s growing popularity in Sri Lanka.

At the conclusion of an evening of spirited competition, the Champion Award winners were Panther Paces, with Fireball and Ball Burners emerging as 1st and 2nd runner-up.

Playdium Director Ashan de Livera said, ‘Hosting the first-ever Premier Bowling League in Sri Lanka is a proud milestone for us. Our vision has always been to provide a platform where competition and entertainment converge, allowing both corporates and individuals to experience bowling at international standards. The success of the inaugural PPL confirms the sport’s growing foothold in Sri Lanka and we are committed to establishing this as a bi-annual competition.’

Strategically located on the ground floor of Shangri-La’s One Galle Face Mall, Playdium is designed to meet international benchmarks as Sri Lanka’s largest world-class bowling and entertainment facility. Beyond its Brunswick Champion standard lanes and advanced scoring systems, the venue spans over 20,000 square feet and features an extensive range of attractions, including Arcade Games, Kids’ Play Area, VR Zone, Bumper Car Zone, Karaoke and Party Facilities as well as the Champions Table Restaurant.

Aryna Sabalenka extended her winning streak at the Wuhan Open to 20 matches with a straight-set victory over Elena Rybakina in the quarter-finals yesterday.

World number one Sabalenka, who is the three-time defending champion in Wuhan, beat eighth seed Rybakina 6-3 6-3 and said the Kazakhstani ‘always pushes me to the limit to get the win’.

The 27-year-old Belarusian, who is the top seed, will face American Jessica Pegula in the semi-finals on Saturday.

Pegula, 31, needed three sets to overcome Czech Katerina Siniakova 2-6 6-0 6-3 in the last eight.

World number three Coco Gauff also booked her place in the last four by comfortably beating Laura Siegemund 6-3 6-0.

Sabalenka is the fourth female player to win their first 20 main draw matches in a single WTA level event since 1990 after Monica Seles at the Australian Open (33-0), Steffi Graf in Leipzig (25-0) and Caroline Wozniacki in New Haven (20-0).

Karma is one of the most widely discussed concepts in spiritual traditions, yet it is often misunderstood. Conventionally, people see karma as a system of cosmic reward and punishment: good actions bring good results, and bad actions bring suffering. While this interpretation helps people accept life’s adversities without resentment, it misses the deeper transformative potential of karma. A closer look reveals that karma is less about external events and more about the source of our intentions and the inner consequences they produce. This article explores how the origin of intention, whether from separateness or oneness, shapes our experiences, determines whether karma arises, and opens the door for inner transformation and sustainable living.

Whether an action produces karma depends on the source of its intention; whether the intention comes from separateness or oneness.

The role of intention

Intentions from separateness: When intentions arise from a sense of separateness-the ‘I’ versus ‘others’ or ‘I’ versus ‘the world’ perspective, actions inevitably lead to karma. The consequences may manifest as disturbances within: stress, anger, anxiety, or inner disharmony. These consequences serve as signals, pointing to the need for self-reflection and transformation.

Intentions from oneness: When intentions arise from oneness, a state free from ego, desires, and aversions, actions flow naturally without creating karma. These actions strengthen inner peace, harmony, and joy, benefiting both the self and others. Thus, the presence or absence of karma is not determined by the action itself but by the mental state from which the action originates.

The role of self-observation

Through non-judgmental observation of thoughts and emotions, one can see where intentions originate. This process reveals two distinct patterns: (1) When intentions arise from separateness, the result is inner turbulence and suffering. (2) When intentions arise from oneness, the result is inner peace, harmony, and joy. Self-observation, introspection, journaling, coaching, and retrospection help us trace our mental disturbances back to their roots in separateness, enabling a conscious shift toward oneness.

Conventional beliefs and missed opportunities

Traditional beliefs about karma often fall into three common scenarios:

Attributing adversity to karma: When something undesirable happens, people often say, ‘This is my karma.’ This perspective prevents reactive behaviour toward others, helping preserve peace and relationships. However, it may overlook the chance to see separateness as the deeper root cause.

Rejecting karma and reacting: When people dismiss karma altogether, they often react against the perceived source of suffering, disturbing both inner peace and outer harmony.

A third scenario involves carelessness or unmindful actions being attributed to karma. While this offers self-consolation, it prevents people from recognising the need for mindfulness to avoid similar mistakes in the future.

In all three cases, the transformative opportunity to move from separateness to oneness is missed.

Karma as a positive force for transformation

This deeper understanding reframes karma as a teacher rather than a punisher. Every disturbance: stress, sadness, anger, anxiety, signals that our intentions arose from the wrong source: separateness. When we heed this signal, we can consciously shift toward oneness, transcending self-centeredness and embracing whole-centeredness.

As this shift unfolds, actions naturally align with the principles of peace, harmony, compassion, and sustainability, reflecting the interconnectedness of all life.

Conclusion

Karma, in its deeper sense, is not about fate or destiny but about feedback from life. Every consequence, whether pleasant or unpleasant, is a signal pointing us toward self-awareness and transformation. By observing our thoughts, emotions, and intentions non-judgmentally, we can see whether they arise from separateness or oneness.

When intentions originate from separateness, life presents disturbances as opportunities for inner growth. When intentions arise from oneness, actions naturally align with peace, harmony, and sustainability, freeing us from the cycle of suffering. Thus, karma becomes a pathway to inner freedom and a guide toward living in harmony with ourselves, others, and nature.

The 2025 Michelin Key distinctions, recognising the world’s leading hotels for exceptional hospitality, have been announced, with all three properties under Sri Lanka’s Resplendent Ceylon earning recognition in the South Asia region.

Ceylon Tea Trails received the highest distinction with three Michelin Keys, Wild Coast Tented Lodge was awarded two Keys, and Cape Weligama secured one Key, underscoring the group’s consistent performance in luxury hospitality.

Ceylon Tea Trails stands out as the only property in Sri Lanka to be awarded the prestigious three Michelin Keys.

Resplendent Ceylon Chairman Malik J. Fernando said: ‘We are honoured to see all three of our resorts recognised by the Michelin Key distinctions. To have Ceylon Tea Trails as the only Sri Lankan property with three Keys is a proud moment, underscoring our belief in offering extraordinary, authentic experiences that showcase the very best of Sri Lanka.’

‘These accolades are a testament to the passion and dedication of our teams, and to our ongoing mission of elevating the island’s standing as a world-class luxury destination,’ he added.

The Michelin Key distinctions were unveiled in Paris recently at the inaugural global awards ceremony. It was introduced in 2023 as the hotel world’s equivalent of the Michelin Star and highlights the very best stays worldwide.

Keys are awarded to hotels excelling across five universal criteria: architecture and interior design; service quality; personality and character; value for money; and contribution to the local environment.

The recognition spans all types of lodging, from boutique city hotels and heritage castles to ryokans, luxury tents, and remote retreats. While some Key properties may also host Michelin-Starred restaurants, the awards are determined independently, ensuring each Key reflects the highest standards of lodging excellence.

The rare Three Michelin Keys signify an extraordinary stay, the highest benchmark in global hospitality where design, comfort, and service converge to create an experience that lingers in memory long after departure.