Category: Daily Financial Times

The Export Development Board (EDB) yesterday said that it was moving to finalising the National Export Development Plan (NEDP) 2025-2029 by November, with the aim of sharpening trade competitiveness, building stronger regional and global linkages, and positioning exports as a driver of sustainable growth even as US President Donald Trump is upending the world trade order.

The EDB, working with the Asian Development Bank (ADB), has begun a series of nationwide consultations to shape the plan.

Eight focus group discussions and a technical committee meeting are scheduled for 2-10 October, covering areas from trade logistics to sectoral priorities. Regional and validation workshops are to follow, before the final framework is submitted later this year.

The urgency is palpable. A recent ADB report has said the impact of US tariffs will impact Sri Lanka’s growth, forecast to slowdown from 5% in 2024 to 3.9% this year and 3.3% in 2026. With Macro-Bonds likely to result additional debt payments up to $ 250 million annually, driving export growth is critical.

According to the Institute of Policy Studies in 2023, Sri Lanka’s goods and services exports made up nearly 20.4% of GDP, with manufacturing exports contributing 14%. However, the country’s merchandise export mix remains highly concentrated, with 77% of export income coming from industrial goods, mainly apparel, and just 22% from agricultural exports.

‘This lack of sufficient diversification leaves Sri Lanka’s export economy vulnerable, heavily dependent on the apparel sector and traditional sectors like tea and rubber,’ the IPS said.

According to the Advocata Institute, Sri Lanka’s lack of trade competitiveness is the result of policies and structural inefficiencies that have rendered the country uncompetitive. It noted that this fundamental issue was often misdiagnosed as a lack of targeting, leading to constant shifts in focus towards different sectors or products every three years without addressing the root causes of poor competitiveness.

According to the EDB, the new National Export Development Plan 2025-2029 builds on lessons from the National Export Strategy of 2018-2022, while addressing shifting global trade conditions and the country’s own post-crisis priorities.

‘This initiative is central to positioning Sri Lanka as a competitive player in international markets,’ Industry and Entrepreneurship Development Deputy Minister Chathuranga Abeysinghe said at the inaugural session in Colombo yesterday.

EDB Chairman Mangala Wijesinghe told stakeholders that aligning national export priorities with industry realities and global market opportunities was critical to the plan’s success. ADB’s Country Director in Sri Lanka Takafumi Kadono, stressed the importance of collaborative engagement to ensure the framework is both inclusive and actionable.

The Government has identified the NEDP as a key priority in the 2025 Budget, mandating the EDB to lead the process under the Policy-Based Lending program of the Industry and Entrepreneurship Development Ministry. Industry Secretary Thilaka Jayasundara said the consultations would help identify priority sectors, strengthen trade linkages, and address bottlenecks in the trade ecosystem.

‘Once completed, the five-year plan will provide the roadmap for Sri Lanka’s export growth strategy, setting policy direction and implementation pathways at a time when the country is seeking to anchor its economic recovery on trade-led expansion,’ the EDB said in a statement yesterday.

LOLC Insurance yesterday announced two key leadership appointments aimed at driving sustainable growth, strengthening governance, and enhancing operational excellence across its companies, LOLC Life Assurance Ltd. and LOLC General Insurance PLC.

It said the appointments mark a new chapter for both companies, bringing a fresh leadership perspective and renewed energy to their strategic direction.

Chandana L. Aluthgama has been appointed Executive Director and Principal Officer of LOLC Life Assurance Ltd. and Director of LOLC General Insurance PLC, while Kithsiri Gunawardena has been appointed Director of LOLC Life Assurance Ltd., further to his role as Chairman of LOLC General Insurance PLC. With this experienced leadership, LOLC Insurance reinforces its strategic vision and readiness to drive continued success in the Sri Lankan insurance industry.

With over 33 years of experience in life and general insurance, Aluthgama brings extensive expertise in leadership, corporate governance, and talent development. He has held senior positions at prominent organisations, including Eagle Insurance PLC (Zurich Financial Services Group), HNB Assurance PLC, and HNB General Insurance Ltd.

Prior to joining LOLC Insurance, he served as Group CEO of Sri Lanka Insurance Corporation Life Ltd. and General Ltd., where he successfully led major initiatives including the statutory segregation of life and general insurance operations in 2024, business restructuring, and the establishment of a performance driven culture.

He is also the immediate past President of the Insurance Association of Sri Lanka, reflecting his longstanding contribution to the industry.

A strong advocate for education, Aluthgama has been a senior visiting lecturer at the University of Colombo for over 20 years and mentors students at the University of Moratuwa.

He holds an MBA from the University of Colombo, a Bachelor of Commerce (Special) from the University of Kelaniya, and is a Fellow and Chartered Manager of the Chartered Management Institute, UK, as well as a Fellow of the Australian and New Zealand Institute of Insurance and Finance (ANZIIF).

Aluthgama has shared his insights at local and international conferences and completed executive programs at Generali Insurance AG, Vienna, and NUS Business School, Singapore.

Gunawardena brings over 35 years of legal, public sector, and corporate experience and has been a member of the LOLC Group since 2004.

He has held senior positions in the public sector, including State Counsel at the Attorney General’s Department, Director – Legal and Enforcement of the Securities and Exchange Commission, Director – Legal and Enforcement of the Insurance Regulatory Commission of Sri Lanka (IRCSL), and the first Director General of the Consumer Affairs Authority.

He currently serves as Chairman of LOLC General Insurance PLC and Chief Operating Officer of LOLC Holdings PLC, while also holding board positions across local and international subsidiaries of LOLC in the leisure, financial services, and plantation sectors.

Gunawardena’s extensive expertise in the regulatory sector, particularly at IRCSL, coupled with his leadership across LOLC’s diverse business operations, has enabled him to steer LOLC General Insurance into becoming one of Sri Lanka’s leading insurers, pioneering industry first digital, business, and community initiatives.

Extending his leadership to sustainability and social responsibility, he has also driven LOLC’s engagement in the Sri Lankan Leopard Conservation Project, integrating business with community and environmental impact, and spearheaded the country’s first Livestock Insurance Scheme to reduce human-leopard conflict and safeguard rural livelihoods.

HIRIKETIYA’S beloved Smoke and Bitters has once again put Sri Lanka on the global map, being named No. 67 on the recently announced World’s 50 Best Bars extended list 2025.

Climbing an impressive 19 places from last year, the bar remains the only Sri Lankan-owned bar ever to feature-and one of just two from South Asia-cementing its place among the world’s most influential drinking destinations alongside icons like Attaboy (New York), The SG Club (Tokyo), Wax On (Berlin), A Bar with Shapes for a Name (London) and Eximia (São Paulo).

The story of Smoke and Bitters is one of grit, heart, and perseverance. Co-founders Don Ranasinghe and Lahiru (Lalla) Perera, best friends who began their journeys clearing glasses, waiting tables, and running events, opened the bar just five years ago with one goal: to create a distinctly Sri Lankan cocktail and dining experience. With no shortcuts or gimmicks, their rise is built on a commitment to craft, authentic hospitality, and real relationships.

This announcement follows Smoke and Bitters’ meteoric rise in the region-from debuting at No. 42 on Asia’s 50 Best Bars in 2022 to climbing to No. 14 this year, earning the title of Best Bar in Sri Lanka for four consecutive years. Don and Lalla are also behind the newly launched Raa, an arrack and toddy-focused bar in Hiriketiya, which remarkably debuted on the Asia’s 50 Best Bars extended list at No. 84 in its very first year.

What makes the achievement even more powerful is the team behind it-nearly 50 strong, made up of bartenders and cooks recruited from nearby villages. Affectionately called the ‘village bartenders,’ many of them had never left the district until Don and Lalla mentored, trained, and put them out there.

Today, bartenders like Sameera and Amila represent Sri Lanka on international stages, travelling for guest shifts in Singapore, Hong Kong, Abu Dhabi, India, Kazakhstan and beyond.

Smoke and Bitters’ reach extends well past its palm-fringed home in Pehembiya. The bar has built an impressive global network through its ‘Sunset Shifts’ guest series, hosting acclaimed names such as Native, Sago House, Cantina OK!, EKAA, Kotuwa, Lair, Jigger and Pony, Masque, Elephant Room, Hideaway Goa, Bombay Canteen, Bees Knees, Soka, House on Sathorn, Nico de Soto and Pankaj Balachandran. In turn, Don, Lalla, and their team have represented Sri Lanka abroad with high-profile bar takeovers at Honky Tonks (Hong Kong), ZLB23 (Bengaluru), Pantja (Jakarta), Hope and Sesame (Guangzhou), Sugarhall (Singapore), Bees Knees (Tokyo), Danico (Paris), and Moebius (Milan). These exchanges have positioned Smoke and Bitters as a true ambassador of Sri Lankan food and drink culture.

At its core, however, the bar remains true to its origins: a low-key beachside venue serving locally inspired, artisanal cocktails and smoked dishes under the glow of Hiriketiya’s sunsets. For Don and Lalla, success has always meant elevating their team and their community. Their recent ‘Smoke and Bitters Loves Local’ series has placed Sri Lankan bartenders on the same platform as international stars, challenging the perception of bartending as a low-prestige profession and championing fair recognition for the craft locally.

The World’s 50 Best Bars, first published in 2009, is the most respected global ranking of drinking destinations, voted on by a gender-balanced Academy of 700 bartenders, consultants, writers and cocktail experts worldwide, and independently adjudicated by Deloitte. This year’s annual awards ceremony takes place in Hong Kong this October, where Don and Lalla will join their peers from around the world.

Gabriel’s Charity Auction in aid of Rescue Animals Sri Lanka (RAS) will take place on 31 October at the Mahogany, Cinnamon Grand, commencing 7.30 p.m.

Presented by the Cinnamon Grand, Hi Magazine, Wijeya Newspapers and Aditi, the evening is guaranteed to have something for everyone. A silent auction featuring an array of valuable items, a fashion show with Sri Lanka’s finest designers namely, Aditi, Brian Kerkoven, Charini, Dhammika Amarasekara, Jai by Aashkii, LIMAK by KAMIL and RADISI, while cocktails, a four course sit down dinner, and entertainment by En Route, all combine to ensure that Friday 31 October, will indeed be a night to remember .

The Auction will comprise of a variety of eclectic items including paintings, pottery, designer clothing, jewellery, etc. with the proceeds from their sale going towards funding the RAS shelter, as well as their manifold activities.

RAS was incorporated as a formal trust by D L and F de Sarams over 25 years ago by Anusha David, who commenced her animal welfare activities at the age of eight when she picked up two flea ridden pups on her way to school and hid them in her class handwork cupboard. Since then Anusha’s care for the voiceless encompasses all creatures great and small and her advocacy extends to farm animals, elephants, monkeys, birds and reptiles. The RAS shelter presently houses 92 dogs and 18 cats with three staff on site to care for the animals.

Lanka IOC, which has partnered with RAS as part of their CSR program, give a strong signal to other corporates to follow their lead, while Aditi emphasised the fact that animal welfare and preserving the environment are the cornerstones of CSR.

Hospitality Partner Cinnamon Grand, has walked their talk with the opening of a Cattery, while Print Media partner Wijeya Newspapers Ltd., Advertising Partner Gravitas, Social Media Partner Zelus, Brian Kerkoven, Chagall Salon, and En Route, have all extended their support to RAS to ensure the event’s success.

Aditi Managing Director Mahika Weerakoon, who was the first Corporate to partner with RAS, said,

‘At Aditi, our philosophy has always been about care for people, for communities, and for the world we live in. Supporting Rescue Animals Sri Lanka is a natural extension of our values. Just as we empower women through fashion, we believe compassion towards animals and protecting the environment are essential to building a truly elegant society.’

Lanka IOC Managing Director Dipak Das said they were pleased to partner with Rescue Animals Sri Lanka as part of their CSR initiative and expressed the hope that other Sri Lankan Corporates would include Animal Welfare into their corporate ethos.’

‘The Cinnamon Grand Colombo is delighted to be a part of yet another initiative spearheaded by Anusha David of Rescue Animals Sri Lanka. We have had a long association with Anusha and look forward to partnering with her on future endeavours too,’ said General Manager Nazoomi Azhar.

In celebration of World Children’s Day on 1 October, SriLankan Airlines facilitated the flight experience for a special program for children selected through a creative competition from every province across Sri Lanka.

Through this unique initiative, 250 youngsters aged 12 to 15 were gifted the opportunity to enjoy a nearly two-hour flight aboard a SriLankan Airlines Airbus A330-300, with breath-taking views of Sri Lanka’s stunning landscapes from the sky. For many, it was their first flying experience.

The children were warmly welcomed at Bandaranaike International Airport and taken on a guided tour by SriLankan Airlines’ Ground Handling team and Airport and Aviation Services (AASL), where they experienced the full international travel process, from check-in to boarding, before taking off to the skies with SriLankan Airlines.

The flight, which departed from Bandaranaike International Airport (BIA), offered a bird’s-eye view of some of Sri Lanka’s most iconic landmarks, including the coastal belt of Colombo, Galle, Adam’s Peak, Pidurutalagala, Sigiriya, Mullaitivu, Delft Island, Anuradhapura, and Negombo, before returning to the airport. The children’s experience was captured and will be broadcast by Derana TV through a one-hour program on 6 October.

SriLankan Airlines Manager – Corporate Communications Deepal Perera said: ‘At SriLankan Airlines, we believe that the sky should never be the limit to a child’s dreams. It was a privilege to partner with Derana and Signal on this extraordinary initiative, giving children from every corner of our island the chance to experience the wonder of flight on International Children’s Day. For many, it was their very first time in the air. We are glad to have been part of a journey that may inspire future aviators, explorers, and leaders of tomorrow.’

The Sri Lanka Tourism Job Fair and Career Expo concluded at One Galle Face in Colombo, drawing strong participation from students, graduates, and young professionals eager to enter the hospitality and tourism industry.

Now in its third year, the fair connected aspiring youth with leading employers, offering on-site interviews, career guidance sessions, and workshops. With youth unemployment still a challenge in the country, the event provided a practical platform to bridge the gap between education and employment.

Labour Minister Prof. Anil Jayantha said that he was encouraged by the collaboration and opportunities created through the fair. ‘I am happy to be here. When everyone is working towards the same objective, it becomes a success. We saw it here today. Many are not aware as to how to find new job opportunities, and where they are. As the Government, we are working to elevate the sector, and many programs have been launched. But the opportunities are not yet well known among the public. University students and others are often unaware of them. This is a great solution to that issue, and a great event.’

The Job Fair formed part of Sri Lanka’s ambitious program to mark World Tourism Day 2025, celebrated under the United Nations World Tourism Organisation’s (UNWTO) global theme of ‘Tourism and Sustainable Transformation.’ This year’s Expo stands as one of the most wide-ranging series of tourism events the country has seen in recent years, extending from provincial competitions to international level conferences. The initiative is a joint effort by the Tourism Ministry, the Sri Lanka Institute of Tourism and Hotel Management (SLITHM), the Sri Lanka Tourism Development Authority (SLTDA), the Tourist Hotels Association of Sri Lanka (THASL), and the Sri Lanka Association of Inbound Tour Operators (SLAITO). They were joined by the Alumni Association of Tourism Economics and Hospitality Management (AATEHM) and the Sustainable Tourism Unit of the University of Colombo.

The domestic football season will commence with the kick-off of the prestigious Champions League Tournament from 7 November to be played in three venues in Colombo and Kurunegala.

After a lapse of almost four years, Football Sri Lanka (FSL) finally got their act together to resume domestic football, which came in for heavy criticism. Incumbent President Jaswar Umar and his team of officials were delighted to announce the resumption of local Football at a press briefing held last Wednesday at the Football headquarters.

‘We are extremely delighted to announce the resumption of domestic football which was delayed due to various reasons. We finally put our act together to kick-off the Champions League initially which has more teams than the Super League Tournament,’ said Jaswar.

Defending champions Matara City Club and runner-up Java Lane SC are slated on top of Group B and A respectively, while twelve more iconic teams in the game will vie for honours in this year’s tournament, where the majority of the games will be at Racecourse Stadium, while City Football League and Public Grounds Kurunegala will be the other two venues which are to host some of the games.

From 7 November, every Friday, Saturday and Sunday matches will take place initially at the Race Course Stadium.

The last two games to decide the league winner will be played next year on 4 and 5 February, with the venue to be notified later based on the teams which qualify.

The top four teams will qualify for the super 8 and the team with the highest points will be adjudged as the winner. The bottom three will confront each other separately, with the teams occupying the one before the last and the last team will be relegated. The champions and runner-up will move to next year’s Super League Tournament.

‘The football loving fraternity will now have the opportunity to witness enthralling games of football with commencement of this tournament, which will be followed by the Super League Tournament. We are making arrangements to telecast the matches live via our website on various digital platforms.’

‘It is very easy to criticise the FSL activity calendar, but one has to understand that when we took over it was a herculean task for us, especially with regard to funds. But gradually we surged ahead with the support of FIFA and AFC to run our day-to-day activities while focusing on the National junior and senior men and women teams engaging in various tournaments without avoiding them. Nevertheless, we are jubilant to celebrate the completion of two years after being elected to office achieving many milestones,’ added Jaswar.

Hayleys Leisure has announced the appointment of Rajitha Amarasinghe as Director of Operations – Amaya Resorts and Spas.

In his new role, Amarasinghe will oversee the operations of Amaya Resorts and Spas and the Boutique Collection by Amaya, with a focus on driving operational excellence, elevating service standards, enhancing guest experiences and strengthening financial and business performance. His responsibilities will also encompass people development and compliance, ensuring alignment with Amaya’s vision of becoming the most preferred hotel brand in Sri Lanka.

With over two decades of experience in the hospitality industry, Amarasinghe brings a wealth of operational and leadership expertise. He began his career with Cinnamon Hotels and Resorts, where he served for 13 years, rising to the position of Manager – Compliance, Health and Safety. He later joined Amaya Resorts and Spas, assuming key leadership roles, including Head of Operations and Head of Health, Safety, and Compliance. Throughout his career, he has demonstrated a strong ability to balance service excellence with people development, shaping operational standards that have enhanced both guest satisfaction and organisational performance.

An alumnus of the International Management Institute (IMI), Switzerland, Amarasinghe holds a Postgraduate Diploma in Hospitality Management, specialising in Hospitality Administration and Management.

Rajitha said: ‘It is a great honour to step into the role of Director of Operations at Amaya Resorts and Spas. I am excited to work with our incredible team to elevate hospitality to the next level by creating memorable guest experiences and fostering sustainable growth. My focus will be on enhancing operational excellence and empowering our people to deliver the highest standards of service.’

Hayleys Leisure Managing Director Rohan Karr said: ‘Rajitha has been an integral part of our team, consistently demonstrating exemplary management skills, operational expertise and a deep commitment to delivering excellence. We are confident that under his guidance, Amaya Resorts and Spas will become the most preferred hospitality brand in Sri Lanka.’

In celebration of World Children’s Day 2025, Sri Lanka Insurance Life (SLIC Life) has extended a Rs. 1 million free life insurance cover to the parents of every child born on 1 October, across the island. Now in its fourth consecutive year, the initiative reflects SLIC Life’s mission to provide financial protection to families at crucial moments while reinforcing the value of life insurance as a safety net.

This free life cover provides parents of newborns with vital financial security during uncertain times, helping families lay a stable foundation for the future. On 1 October, SLIC Life implemented the program nationwide, covering every hospital in Sri Lanka to ensure parents across the country benefitted from this unique offering.

Launched in 2022 as part of SLIC Life’s Corporate Social Responsibility (CSR) program, the project was designed to protect the future of the nation’s children by supporting their parents. The positive response and impact on families over the past three years inspired SLIC Life to continue the initiative, which has since grown into one of the company’s most meaningful annual CSR efforts. As the national Life Insurer, SLIC Life is dedicated to uplifting the communities it serves. Its CSR agenda spans child education, community development, and cultural preservation, contributing to the long-term sustainability of Sri Lanka and strengthening the well-being of its people.

To celebrate the initiative, a special event was held at Castle Street Hospital for Women, Colombo, on 1 October, where representatives of SLIC Life joined hospital staff and families in marking this milestone. The gathering emphasised the importance of life insurance in securing brighter futures for children and their families.

SLIC Life’s commitment to children and education is deeply embedded in its CSR strategy. Recently, the company was honoured with the Excellence in CSR Award at the Sri Lanka Leadership Awards, acknowledging its sustained contributions to education and community welfare. A flagship initiative, ‘Pasal Piriyatha Surakimu’ launched in 2007, has benefitted over 3,365 underprivileged schools with classroom refurbishments, water facilities, libraries, and learning resources. In May 2025 alone, SLIC Life revitalised 100 schools simultaneously, showcasing its large-scale commitment to education. Complementing this effort, the ‘Suba Pathum Scholarship Program’ has since 2014, awarded over 2,200 scholarships worth more than Rs. 240 million to children of policyholders excelling in national examinations, including 225 scholarships in 2025.

Beyond CSR, SLIC Life continues to introduce insurance solutions designed to safeguard children’s futures. The ‘Minimuthu’ range offers tailored plans to support education and aspirations, while the ‘School Fee Protector’ plan ensures children’s studies continue uninterrupted even in times of financial difficulty.

SLIC Life recognises that children are the foundation of the nation’s future. By offering a Rs. 1 million free life cover to parents of newborns on World Children’s Day, the company demonstrates how insurance provides essential protection throughout life’s journey. Through this program and other initiatives, SLIC Life has set a benchmark for the industry, highlighting the importance of financial security for families. With children at the heart of its mission, the company remains committed to creating a brighter, more secure future for all Sri Lankans.

This October, Cinnamon Grand Colombo brings the spirit of Scandinavia to the city as part of the grand 50th anniversary celebration of its signature London Grill. Leading the experience is Chef Carola Magnusson, renowned Swedish chef and Founder and CEO of Carolas Eko, who has curated an authentic Swedish menu along with the beloved tradition of freshly baked cinnamon buns.

Well known in Sweden for her commitment to wholesome, sustainable cooking and her flair for combining tradition with innovation, Chef Carola brings her philosophy to Colombo in two exciting culinary experiences.

From 2-5 October at London Grill, she will present a refined à la carte menu featuring dishes that reflect the soul of Swedish cuisine. Among the highlights are the classic Swedish Skagen on sourdough crostini, her refreshing Jerusalem Artichoke Soup, the comforting Moose Meatballs with lingonberries and

potato-celeriac purée, and the delicately balanced Salt Cured Seabass Fillet with white wine sauce and trout roe. Each dish is a tribute to the purity and elegance of Nordic gastronomy.

The celebration continues on 4 October, when Cinnamon Grand’s Tea Lounge marks International Cinnamon Bun Day with a live Swedish Cinnamon Bun action station, personally inspired by Chef Carola’s recipes. Guests can savour warm, cardamom-spiced buns fresh from the oven, alongside the hotel’s indulgent special high tea buffet, a charming nod to Sweden’s sweetest tradition.

Together, these experiences not only highlight Chef Carola’s culinary artistry but also honour the London Grill’s remarkable five-decade legacy as Colombo’s most enduring fine dining destination.