Category: Daily Financial Times

The Government has decided to take some steps to make the Mattala Rajapaksa International Airport (MRIA), Hambantota, a profitable venture by granting concessionary periods related to deviation tax for airlines operating from the airport, and also to establish a wildlife office at the premises to minimise damages from wild animals to its infrastructure.

The Cabinet of Ministers at their meeting on Monday approved these directives to attract more scheduled international airlines to the MRIA and also to facilitate existing airlines to continue their operations.

Cabinet Spokesman and Media Minister Dr. Nalinda Jayatissa yesterday said the Cabinet of Ministers had approved the proposal presented by the Transport, Highways, Ports and Civil Aviation Minister to further extend the currently implemented exemption period for the deviation tax until 26 June 2027.

Dr. Jayatissa said the decision aims to encourage more airlines to operate to Mattala, noting that carriers such as Azur Air have already expressed interest in commencing services.

He recalled that the Government had earlier introduced the tax exemption to stimulate air traffic through the airport, which has been underutilised since its opening.

He also announced that the Cabinet has approved the proposal submitted by the Environment Minister to establish a wildlife office at the MRIA to ensure the safety of air passengers, airport staff, and airport infrastructure by identifying and properly managing such wildlife threats in advance.

This is also intended to maintain uninterrupted air services by minimising possible delays and disruptions in airport operations.

Minister Dr. Jayatissa said that Cabinet approval was given to establish the wildlife office at the MRIA mainly to prevent frequent damages caused by wild animals to its infrastructure and its operations. A significant cost has been incurred to the Airport and Air Services Company Ltd., to repair such damage to the MRIA’s infrastructure.

The Minister said 10 Civil Defence Department soldiers would be attached to the wildlife office proposed to be set up in the MRIA.

The Commercial Bank-AIA Bancassurance Achievers Awards took place recently as a glamorous celebratory event, held at Cinnamon Life, City of Dreams.

This grand occasion recognised the exceptional accomplishments of Commercial Bank’s and AIA’s dynamic Partnership Distribution teams, whose unwavering dedication and performance throughout 2024 set new benchmarks in the bancassurance industry.

This landmark event celebrated a significant milestone, the first annual awards ceremony since the initiation of AIA’s exclusive bancassurance partnership with Commercial Bank in 2024. United by a shared purpose, ‘Protecting Sri Lankans Like Never Before,’ this strategic alliance has swiftly translated ambition into impact, delivering transformative outcomes for individuals and families across the nation.

The partnership was able to secure over Rs. 1.2 billion in Annualised New Premium (ANP) in less than one year of operations, and has continued to grow exponentially since, demonstrating unparalleled trust from customers.

The evening was a tribute to excellence, spotlighting the outstanding individuals and high-performing teams who played a role in accelerating bancassurance growth and elevating customer experience to unprecedented levels. Their achievements exemplify the spirit of innovation, collaboration, and customer-centricity that lies at the heart of this partnership.

Senior leadership from both AIA Sri Lanka and Commercial Bank graced the occasion, extending heartfelt congratulations to the award recipients. Their remarks highlighted the importance of synergy between institutions, the power of forward-thinking strategies, and the collective commitment to building a resilient and responsive bancassurance ecosystem.

Commercial Bank-AIA Bancassurance Achievers Award 2025 was a celebration of shared values, mutual growth, and a unified vision to empower Sri Lankans to live healthier, longer, better lives. As AIA continues to expand its bancassurance footprint across Sri Lanka, the company remains deeply committed to recognising and uplifting the individuals who drive its mission forward. With passion, purpose, and an unwavering focus on excellence, AIA and Commercial Bank are redefining the future of financial protection in Sri Lanka.

Hameedia, celebrated the grand re-launch of its H Sports outlet in Pelawatte, unveiling a fresh new store concept and exclusive activewear collections. The newly revamped store promises to deliver an elevated shopping experience for sports lovers and fitness enthusiasts, showcasing the latest global trends in activewear, athleisure, and performance gear from world-renowned brands including Adidas, Nike, Campus, and H Active.

Located at 724A, Pannipitiya Road, Battaramulla, H Sports is designed as a one-stop destination for those seeking high-quality sportswear that combines style, comfort, and functionality. The store offers a wide range of world-class products in footwear, apparel, and accessories right here in Sri Lanka.

The official ribbon-cutting ceremony was held in the presence of Amjad Hameed – Director of Signature, together with members of the Hameedia management team. The re-launch event presented an exclusive first look at H Sports’ newest collections, offering fashion-forward pieces ideal for gym workouts, professional training sessions, or athleisure wear. Guests enjoyed an immersive evening featuring curated looks, styling inspiration, and engaging activities. On launch day, customers also took part in Time Challenge Games, including Skipping Rope and Dips competitions. Winners received special gifts, while exclusive in-store offers added to the excitement of the celebration.

Hameedia Managing Director Fouzul Hameed said: ‘H Sports has always been about empowering people to move better and live healthier, more active lives. With this re-launch, we are not just reopening a store, We are reintroducing a space designed to inspire both performance and fashion. Our goal is to inspire Sri Lankans to embrace an active and healthy lifestyle with the very best in global sportswear, while enjoying a world-class retail experience.’

The store’s redesigned layout offers a modern, spacious, and customer-friendly environment, making it easier for shoppers to explore categories ranging from performance wear and running shoes to athleisure staples and accessories. With Hameedia’s commitment to quality and innovation, the upgraded store also aims to serve as a community hub where sports enthusiasts can stay connected to the latest trends and updates in fitness fashion.

In addition to the Pelawatte outlet, H Sports also operates outlets at Racecourse Promenade, Colombo 7, and Kandy City Centre, L/3 – 17, Kandy, continuing its mission to make world-class sportswear and athleisure accessible across Sri Lanka.

Futurity Ltd., Sri Lanka’s first AI-native research studio, has announced its strategic partnership with the Institution of Engineers, Sri Lanka (IESL) as the official AI Enablement Partner for Techno 2025.

The collaboration was formalised at a signing ceremony attended by senior representatives from both organisations, including IESL President Elect and Techno 2025 Chairman Eng. Kosala Kamburadeniya, and IESL CEO Eng. Neil Abeysekera, alongside Futurity’s leadership team.

As part of the agreement, Futurity will introduce a revolutionary AI-powered conversational assistant that is set to transform the way visitors experience Techno 2025. This cutting-edge application will allow visitors to navigate the exhibition seamlessly, access detailed information on exhibitors, and receive real-time guidance on event schedules and highlights. The assistant represents a fundamental shift in how exhibitions are organised and experienced, moving beyond static directories and brochures to deliver dynamic, intelligent, and interactive visitor support.

This collaboration underscores IESL’s commitment to positioning Techno 2025 as more than just an exhibition. But as a living demonstration of future-ready technology in action. By embedding AI into the visitor journey, the exhibition aims to set a new standard in engagement, efficiency, and knowledge-sharing within Sri Lanka’s innovation ecosystem.

Alongside Futurity, Invos Global Ltd., will serve as the official Technology Partner, bringing deep expertise in enterprise-scale technology deployment, while Cyaniq Ltd., joins as the Communications Partner, leveraging its strengths in strategy and storytelling to enhance outreach. Together, the three organisations are aligning their complementary strengths to deliver a holistic and future-facing experience for Techno 2025.

‘Techno 2025 is not only about showcasing engineering excellence but also about creating smarter, more connected experiences,’ said Futurity Co-Founder and Director Supun Kaluarachchi. ‘Through effortless intelligence, our AI assistant will ensure every visitor can unlock the full potential of the exhibition.’

‘This partnership reflects IESL’s vision to embrace innovation and highlight the transformative role of AI in shaping Sri Lanka’s future,’ said IESL President Elect and Techno 2025 Chairman Eng. Kosala Kamburadeniya. ‘By working with Futurity and its partners, we are setting a benchmark for what modern exhibitions can achieve.’

Futurity Head of Business Dimitri Abeyratne emphasised that the initiative will act as a proof point for how Sri Lanka can deploy advanced AI technologies in practical, public-facing contexts: ‘This is about taking AI out of research labs and boardrooms and placing it directly in the hands of people, giving them a smarter, more informed, and more enjoyable event experience.’

Techno 2025 is set to welcome thousands of professionals, innovators, students, and industry leaders. With the integration of AI, the event is poised to deliver not only an exhibition of products and ideas but also an immersive journey powered by intelligence and connectivity.

Bandaranaike International Airport (BIA) recorded a 14.4% year-on-year increase in air traffic during the first eight months of 2025, reflecting a steady recovery in aviation activity, the Ministry of Transport, Highways, Ports, and Civil Aviation said.

Between January and August, the airport handled 44,185 flight movements compared to 38,607 in the same period last year. August saw the highest traffic so far this year, with 5,976 aircraft movements.

Air travel continues to strengthen ahead of the upcoming tourist season, and steps are being taken to manage higher flight volumes and maintain operational efficiency for passengers and airlines, aviation authorities said.

The weighted average rates at yesterday’s weekly Treasury Bill auction held largely steady, with the exception of the 91-day maturity, which registered a further drop of one basis point. The 182-day and 364-day tenors remained unchanged at 7.89% and 8.02%, respectively. This marks the 12th week where T-Bill rates have stayed broadly anchored around prevailing levels.

Nevertheless, the auction went undersubscribed. Only 57.10%, or Rs. 19.13 billion, out of the Rs. 33.50 billion targeted offered amount was raised. This was despite the bids received to the offered amount ratio standing at 1.59 times.

Phase II of subscription across all three tenors is now open until 3 p.m. of the business day prior to the settlement date (i.e., today) at the Weighted Average Yield Rates (WAYRs) determined for the said International Securities Identification Numbers (ISINs) at the auction.

The secondary Bond market yesterday saw activity at subdued levels for a second straight session. The market was at a virtual standstill apart from sparse trades seen on selected maturities. Yields were seen holding broadly steady and consolidating at the prevailing levels. Market participants were seen adopting a wait-and-see mode, amid the absence of strong directional cues, underscoring the broader tone of restraint that has characterised trading in recent sessions.

The 01.08.26 maturity was seen trading at the rate of 8.30%. The 15.09.29 and 15.10.29 maturities were seen trading at the rate of 9.73%, with the 15.12.29 maturity up the range of 9.72%-9.74%.

In the secondary Bills market, trades were observed on January, February, and March 2026 maturities at the rates of 7.57%, 7.95%-8.05%, and 8.00%.

In addition, the details of the next upcoming Treasury Bond auction, scheduled to be conducted on 13 October, were announced. The round of auctions will have a total offered amount of Rs. 181 billion across three available maturities.

The auction will be comprised of:

Rs. 95 billion from a 1 July 2030 maturity bearing a coupon rate of 09.75%.

Rs. 45 billion from a 1 November 2033 maturity bearing a coupon rate of 09.00%.

Rs. 41 billion from a 1 July 2037 maturity bearing a coupon rate of 10.75%.

The settlement for which will be held on 15 October.

The total secondary market Treasury Bond/Bill transacted volume for 7 October was Rs. 9.50 billion.

In money markets, the weighted average rates on overnight call money and repo stood at 7.87% and 7.89%, respectively.

The net liquidity surplus was recorded at Rs. 174.31 billion yesterday, deposited at the Central Bank’s Standard Deposit Facility Rate (SDFR) of 7.25%.

Forex market

In the Forex market, the USD/LKR rate on spot contracts closed depreciating slightly to Rs. 302.65/302.69 as against its previous day’s closing level of Rs. 302.52/302.59.

The total USD/LKR traded volume for 7 October was $ 106.55 million.

The fertiliser subsidy program is to cost Rs. 5 billion more, the Government announced yesterday.

It said originally Rs. 33.5 billion was allocated for providing financial subsidy for fertiliser to the farmers cultivating the paddy lands during Maha season 2025/2026 and it has been estimated that an additional allocation of approximately Rs. 5 billion will be required when considering the total extent of lands for paddy and other field crops which has been estimated to be cultivated during the Maha season of 2025/26.

Accordingly, subject to the recommendation of the food policy and security committee, the Cabinet of Ministers has granted approval for the consolidated proposal furnished by the Ministers of Agriculture, Livestock, Lands and Irrigation as well as Trade, Commerce, Food Security and Cooperative Development to obtain additional provisions of Rs. 5 billion to pay off the financial subsidiary for fertiliser.

Cosmetics.lk, has been honoured with the title ‘Most Popular Website in Sri Lanka’ in the E-Commerce Category at BestWeb.lk 2025, organised by the LK Domain Registry.

BestWeb.lk is Sri Lanka’s premier web competition, recognising and rewarding excellence in web presence, creativity, technical quality, user experience, and innovation.

Among hundreds of entries across multiple industries, Cosmetics.lk stood out for its strong digital presence and the overwhelming support it received from its growing community of customers nationwide.

Cosmetics.lk Founder Lasantha Gunawardena said: ‘We are truly honoured to receive this recognition. This award reflects the trust and loyalty of our valued customers who continue to choose Cosmetics.lk as their go-to platform for authentic, high-quality beauty, wellness, and personal care products. It also motivates us to keep innovating and delivering the best shopping experience in Sri Lanka.’

Cosmetics.lk has built its reputation by offering a wide portfolio of premium international and dermatologist-trusted brands to the Sri Lankan market.

Among the many names available on the platform are CeraVe, The Ordinary, Cetaphil, Neutrogena, Loreal, Palmers, Aveeno, La Roche-Posay, and popular Korean skincare brands such as Anua, SKIN1004 Centella, Medicube, COSRX, and K-Secret SEOUL. In addition to skincare and cosmetics, Cosmetics.lk also offers a carefully curated range of supplements and wellness products from globally trusted brands, including Centrum, NOW, Vital Proteins, Perfectil, Neocell, and Relumins. All products are directly imported from Canada, the USA, the UK, France, Italy, Germany, New Zealand, and other leading European nations, ensuring Sri Lankan consumers have access to authentic, high-quality beauty, wellness, and personal care essentials that meet international standards.

What truly sets Cosmetics.lk apart is its dedication to customer care and convenience. Shoppers

With plans to expand its retail footprint further in the coming years, the brand is set to strengthen its presence as a leading force in the beauty and personal care industry. From winning the Gold Award for Best E-Commerce Website at BestWeb.lk 2022 to being crowned the Most Popular Website in 2025, Cosmetics.lk has consistently proven its strength in Sri Lanka’s digital retail space. Each recognition marks not just an achievement, but a reflection of the brand’s ongoing journey to innovate, expand, and put customer satisfaction at the heart of everything it does.

The Government of Sri Lanka, working with the Asian Development Bank (ADB), has introduced a special program for Micro, Small, and Medium Enterprises (MSMEs). This initiative allows MSMEs lacking adequate collateral to obtain loans through 13 selected banks and financial institutions, including Seylan Bank. Through the collaborative launch of the National Credit Guarantee Institution Ltd. (NCGIL), the Bank with a Heart’s support reaffirms its continued commitment to inclusive financial empowerment and holistic simplified solutions aimed at strengthening national economic development.

Through the NCGIL’s enabling of uncollateralised lending through partial credit guarantees, banks will be able to assess entrepreneurs based on cash flow and business viability other than asset security, marking the first national-scale, risk-sharing credit guarantee model introduced in Sri Lanka, with Seylan Bank playing a critical role in its implementation. Backed by the Government, the Ministry of Finance, and Economic Stabilisation and National Policies, and ADB, NCGIL aims to resolve the limited access to capital due to insufficient collateral that functions as a persistent barrier to success for MSMEs.

The initiative will allow MSMEs to fund capital expenditure and permanent working capital needs with eligible loans ranging from Rs. 500,000 to Rs. 25 million. The NCGIL will secure up to 67% of qualifying loans, in case of eventuality under the guarantee scheme. Additionally, a guarantee fee of 1% to 2% per annum, based on the business’s risk profile, will be applicable and recovered annually on the outstanding guaranteed amount. Special consideration is afforded to priority sectors including women-owned or managed businesses, manufacturing enterprises, tourism, agriculture and information technology, and export-oriented industries

As part of this initiative, the LIYA SHAKTHI Guarantee Scheme has been introduced to strengthen access to finance for women-owned and women-led MSMEs. This program provides enhanced guarantee coverage of up to 80% of the loan amount or capital outstanding, compared to the 67% coverage available under the standard guarantee scheme currently operated by the NCGIL. By supporting women entrepreneurs with greater financial security, LIYA SHAKTHI aims to empower female-led enterprises and encourage their active contribution to Sri Lanka’s economic growth.

Working to accommodate applications for MSME loans under the NCGIL scheme, Seylan Bank’s goals of enabling transformation and empowering power with solutions aligns with the initiative’s purpose to encourage aspiring entrepreneurs and underserved business owners. Through the NCGIL, Seylan Bank aims to expand access to sustainable credit, helping unlock the untapped potential of Sri Lanka’s MSME sector while contributing to national economic resilience and inclusive growth.

Discussing their collaboration with the NCGIL, Seylan Bank Chief Operating Officer Ranil Dissanayake said, ‘As the Bank with a Heart, we have a vested interest in helping emerging businesses find their feet and excel. As a flexible financing option, we’re excited to support the National Credit Guarantee Institution as it moves to back the aspirations of businesses that will potentiate an economic boom by driving innovation, job creation, and community upliftment.’

The Colombo Stock Exchange (CSE) is to conduct a planned full day of trading from the Disaster Recovery site using the Automated Trading System Disaster Recovery Solution tomorrow (10).