Category: Daily Financial Times

Sri Lanka’s current account surplus expanded in the first eight months of 2025, reaching $ 2.04 billion on the back of stronger remittances, services and tourism earnings, and moderate export growth, even as the merchandise trade deficit widened, the Central Bank of Sri Lanka (CBSL) said.

In its latest external sector data release, the CBSL said that the current account registered a surplus of $ 2.04 billion during the first eight months of 2025, up 26.1% year-on-year (YoY) from $ 1.6 billion in the same period last year.

Merchandise trade dynamics showed signs of easing as the trade deficit narrowed in August 2025 to $ 414 million, compared to $ 422 million a year ago, with exports growing at a faster pace, up 4% YoY to $ 1.28 billion in August 2025, compared to imports, which grew 2.6% to $ 1.69 billion during the month.

In the first eight months of 2025, the merchandise trade deficit widened 19.6% to $ 4.26 billion, up from $ 3.56 billion a year ago. Imports grew by 10.5% YoY to $ 13.34 billion, compared to $ 12.07 billion a year earlier, while merchandise exports grew at a slower 6.7% to $ 9.07 billion from $ 8.5 billion a year ago.

The terms of trade deteriorated in August 2025, as the rise in import prices outpaced the increase in export prices, while the Sri Lankan rupee depreciated 3.3% year-to-date (YTD) to end-September 2025 against the US Dollar.

The services sector declined by 5.4% year-on-year in August 2025 to $ 291 million relative to its $ 308 million performance in the corresponding period of 2024.

However, net inflows in the services sector recorded a 2.3% YoY increase during January-August 2025, amounting to $ 2.66 billion.

Tourist arrivals reached 198,235 during the month of August 2025, marking a growth of 20.4% compared to August 2024.

However, tourism earnings fell 8.2% YoY to 259 million. Further, earnings from tourism were estimated at $ 2.3 billion during January-August 2025, recording a 5.7% increase compared to $ 2.1 billion in the corresponding period of 2024.

Workers’ remittances amounted to $ 681 million in August 2025, up 18% from a year ago with cumulative remittances growing 19.3% to $ 5.1 billion from $ 4.3 billion a year ago.

However, foreign investment activity was mixed.

Foreign investments in the Government securities market continuing to record a net inflow of $ 32.9 million in August 2025, compared to $ 30 million outflow a year ago.

Foreign investments in the Colombo Stock Exchange (CSE), covering both primary and secondary markets, recorded a net outflow of $ 15.2 during the month, down 219.6% from a $ 12.7 million inflow a year ago.

During the eight-month period, the CSE recorded a $ 69 million outflow, down 258% from a $ 43.6 million inflow a year ago while inflows to Government securities surged 155% to $ 140.2 million compared to a $ 251 million outflow a year ago.

Debt related investment inflows grew 34% YoY to $ 714 million in the eight-month period while portfolio investments fell 39% to $ 332.6 million.

Gross official reserves, including the swap facility with the People’s Bank of China (PBOC), was up marginally from a month earlier at $ 6.2 billion as of end-August 2025 amid debt servicing, the CBSL said.

Sri Lanka’s hospitality landscape received a remarkable spotlight this year as Browns Hotels and Resorts secured two of the most coveted titles at the South Asian Travel Awards (SATA) 2025, South Asia’s foremost platform celebrating excellence in travel and tourism.

At the gala night held in Colombo on 20th September, Club Hotel Dolphin, Waikkal, was honoured as South Asia’s Leading All-Inclusive Resort, while Occidental Eden Beruwala was crowned South Asia’s Leading Luxury Beach Resort. This dual recognition marked another milestone for Browns Hotels and Resorts, showcasing the diversity and strength of its portfolio, which spans from vibrant family resorts to tranquil beachside retreats.

Located just 20 minutes from Bandaranaike International Airport, Club Hotel Dolphin has become synonymous with all-inclusive holidaying in Sri Lanka and celebrated its second consecutive win as the region’s best all-inclusive resort. The property is home to the country’s largest swimming pool, a pristine stretch of beachfront, and a renowned animation team whose lively entertainment programme has made the resort a favourite among families, couples, and friends. Guests can enjoy expansive buffet spreads, intimate beachfront dining, or creative cocktails crafted by award-winning mixologists. One of the resort’s most cherished hallmarks is its deep connection with guests. Many loyal visitors from around the world have returned over 30 or even 40 times, drawn back by the thoughtful touches of a team that remembers favourite meals and celebrates family milestones. Accepting the award at the gala night, Manoj Perera, Resident Manager of Club Hotel Dolphin, represented the passion and spirit that make the property the island’s largest and most celebrated all-inclusive resort.

On Sri Lanka’s Golden Mile coastline, Occidental Eden Beruwala has long stood as an icon of beachfront luxury. With one of Beruwala’s most expansive stretches of beach, Eden has become a sanctuary for travellers seeking timeless serenity by the sea. The resort brings together world-class dining, thrilling watersports, and holistic spa and wellness experiences, all designed to capture the essence of coastal living while delivering personalised luxury.

Accepting the award on behalf of the property, Occidental Eden Beruwala General Manager Rohan Gamage, acknowledged the dedication of his team in curating experiences that have made Eden one of the island’s most sought-after escapes.

Browns Hotels and Resorts CEO Eksath Wijeratne said: ‘These dual wins are a celebration of our people and our guests. Eden and Dolphin each tell a different story-one of timeless coastal elegance, the other of vibrant all-inclusive energy-but both carry the soul of Sri Lankan hospitality. At Browns Hotels and Resorts, we take pride in creating resorts that are not only celebrated locally but recognised on an international stage for their standards of service, innovation, and guest experience.’

The Overseas School of Colombo (OSC) has once again achieved international acclaim, winning Gold at the prestigious International ARC Awards in New York for its 2023/24 Annual Report, Timeless Dedication: Celebrating the Faces Behind Our Progress.

‘This triumph is not just about an award, but a reflection of OSC’s philosophy, of who we are: a community rooted in trust and openness, where every individual is part of the story, striving for excellence in all we do, and carrying the Gecko spirit from Colombo to the world stage with pride,’ OSC’s Head of School Nel Capadona, captured the essence of the Gecko ethos: a spirit embodied daily by every teacher, student, staff member, and parent who shapes OSC’s enduring legacy.

This marks back-to-back Gold victories (2024/2025), following a Silver in 2022, making OSC the only IB World School globally – and the only Sri Lankan educational institution ever – to triumph at the ARCs.

Often hailed as the ‘Oscars of Annual Reports,’ the ARC Awards are now in their 39th year, recognising the highest standards in corporate communication and transparency. Past and present winners include global icons such as PepsiCo, McDonald’s, IBM, Coca-Cola, Nike, Boeing, PETRONAS, Walmart, Harley-Davidson, BMW, and Volkswagen.

Yet for OSC, this victory represents more than a prestigious trophy. Timeless Dedication is a tribute to the very heart and soul of the school; the teachers who inspire, the staff who uphold, the students who strive, and the community that binds it all together.

OSC Director of Marketing and Communications Jehan de Silva said: ‘As the saying goes, it takes a village to raise a child – and at OSC, it is about celebrating the extraordinary people who bring professionalism, creativity, and heart to our community year after year. The theme of last year’s report was about valuing everyone; academic, administrative, service, and beyond. This victory is not about the accolade itself, but about honouring the true faces behind OSC’s remarkable journey.’

The Royal Melbourne Institute of Technology (RMIT) is in high-level talks to establish an innovation hub in Sri Lanka that will connect universities, industry, and Government institutions with international research expertise, the President’s Media Division (PMD) said.

At a meeting held at the Presidential Secretariat on Tuesday, RMIT officials and senior representatives of the Secretariat discussed the initiative, which is being coordinated through the National Initiative for Research and Development Commercialisation (NIRDC).

According to the PMD, the proposed RMIT Sri Lanka Innovation Hub will strengthen joint doctoral programs, align research with national priorities, and expand opportunities for commercialising innovation.

The hub is also expected to provide training and global access for local researchers, students, and professionals, while creating avenues for new funding and investment into Sri Lanka’s R and D sector.

Participants at the discussion included Senior Additional Secretary to the President Russell Aponso, RMIT Deputy Vice-Chancellor (Research and Innovation) Prof. Calum Drummond, STEM College Deputy Vice-Chancellor (Research and Innovation) Prof. Sujeewa Sethunga, NIRDC Director General Dr. Muditha D. Senarath Yapa, and other officials.

England Captain Harry Kane continued his incredible goalscoring run with two goals as Bayern Munich crushed Pafos in the Champions League.

Kane, 32, has now scored 102 goals in 105 games for the German giants following his £ 86.4 million move from Tottenham in August 2023.

He has 17 goals in nine club matches in 2025-26, including 11 in his past five appearances, as well as one goal for England in their 5-0 thrashing of Serbia this month.

Bayern, two points clear at the top of the Bundesliga, have now won all nine of their matches this season, scoring 35 goals in the

process, and have two victories from two in the Champions League.

The Informatics Institute of Technology (IIT) proudly welcomes our newest cohort to the Business Degree programmes. This is the start of an exciting journey where you’ll gain practical knowledge, discover your passions, and build a strong professional network.

At IIT, we’re dedicated to empowering the next generation of business leaders through an environment that inspires innovation, growth, and success. We can’t wait to support you as you embark on this journey and make your mark in the world of business.

The Informatics Institute of Technology (IIT), Sri Lanka’s leading private higher education provider with over 35 years of excellence, offers Foundation, Bachelor’s, and Master’s degree programmes in collaboration with two prestigious UK universities – the University of Westminster and Robert Gordon University.

The Colombo Stock Exchange (CSE) Annual Report 2024, themed ‘Redefining Horizons’, has achieved global recognition by taking home the Gold Award amongst five other awards under the Financials – Capital Markets category, at the League of American Communications Professionals LLC (LACP) 2024 Vision Awards.

The CSE had the distinction of holding the award back-to-back having also won the Gold Award for its annual report in 2023.

The report’s compelling design, in-depth content, and innovative presentation earned its five 2024 vision awards including the Gold Award, the Technical Achievement Award, ranked as the Top Ranked Sri Lankan Report, and ranked amongst the Top 100 Reports in the Asia-Pacific Region and Top 100 Reports Worldwide.

The LACP Vision Awards, widely regarded as one of the most prominent platforms for recognising annual reports worldwide, received submissions from leading organisations across the globe.

The Annual Report 2024 captures the CSE’s strategies, achievements, and vision, illustrating its pivotal role in navigating market dynamics while integrating technological advancements and inspiring trust in stakeholders. The recognition reaffirms the CSE’s position as a leading force in Sri Lanka’s financial sector and a benchmark for reporting standards in the region.

CSE Senior Vice President Finance and Admin Kusal Nissanka said that this year’s theme Redefining Horizons reflects the CSE’s support for a year of transition towards a green Sri Lankan economy in line with its vision to create sustainable wealth and value.

The year 2024 saw the CSE initiate Green Bond trading, an innovative financial instrument to raise capital for environmental benefits, and initiate frameworks for Sustainable Bonds including the unique Blue Bonds, tied to protection of Sri Lanka’s diverse marine life.

With a Sri Lankan capital market primed with attractively competitive Price-Earnings ratio in a strengthened economy the CSE continues to innovate in the Sri Lankan capital market. These successive back-to-back awards demonstrate the organisation’s professionalism and dedication to create a transparent and productive capital market inspiring confidence abroad and domestically.

Sri Lanka Tourism showcased ‘Destination Sri Lanka’ at the International and French Travel Market (IFTM) Top Resa 2025, held at Porte de Versailles in Paris from 23 to 25 September 2025. The spacious, well-designed Sri Lanka Pavilion, organised by Sri Lanka Tourism, was a key attraction at the fair, presenting the many facets of Sri Lanka along with Ceylon tea and traditional Sri Lankan dance and music.

Thirty (30) Sri Lankan travel and tourism companies took part in this year’s IFTM, including leaders in the French market such as Aitken Spence Travels, Jetwing Travels, Connaissance de Ceylan, Oak Ray Holdings, Thema Collection, Walkers Tours Ltd., and LSR Travels, among others. Several new companies, including Orinway Leisure Ltd., also joined the French travel fair for the first time.

The Sri Lanka Pavilion was formally inaugurated by the Ambassador of Sri Lanka to France and Permanent Delegate to UNESCO, Manisha Gunasekera, who graced the occasion as Chief Guest, together with Sri Lanka Tourism Promotion Bureau Director (Marketing) Dushan Wickramasuriya. Also present were Sri Lankan Airlines Regional Manager for Europe and the Americas, Chinthaka Weerasinghe, industry leaders, and representatives including senior members of the Sri Lanka Association of Inbound Tour Operators and the Association of Small and Medium Enterprises. The ceremony was followed by the serving of Sri Lankan delicacies and Ceylon tea.

In her remarks, the Ambassador underlined the pivotal role of the travel and tourism industry in driving Sri Lanka’s economic growth and development. She commended the Sri Lanka Tourism Promotion Bureau for showcasing the country at IFTM with a state-of-the-art pavilion, and congratulated industry leaders for their enduring commitment to promoting Destination Sri Lanka in France.

Sri Lanka Tourism Director (Promotion) warmly welcomed the French travel industry to the Pavilion, emphasising the resilience, dynamism, and upward trajectory of Sri Lanka’s tourism sector and its strong potential. He also referred to several major promotional campaigns in the pipeline aimed at further consolidating France as a top target market for Sri Lanka.

On 23 September, the Embassy of Sri Lanka hosted a networking dinner reception at its premises for Sri Lankan travel and tourism representatives. Distinguished French participants at the reception included MEDEF President of the Sri Lanka-France Business Council Eric Le Corre, and Guayapi Lanka Founder Claudie Ravel.

France is Sri Lanka’s sixth largest source market and the second largest within the European Union. From January to August 2025, 83,011 French tourists visited Sri Lanka, reflecting a 23.3% increase compared with the same period last year. This positive trend is expected to continue.

IFTM Top Resa is the foremost and most prestigious travel and tourism exposition in France, showcasing over 170 destinations and bringing together nearly 30,000 industry professionals from the travel and leisure sector annually in Paris. Sri Lanka’s participation in IFTM 2025 was facilitated by the Sri Lanka Tourism Promotion Bureau in partnership with the Embassy of Sri Lanka in France. The Embassy Commercial Secretary Prasadi Boomawalage, and Sri Lanka Tourism Promotion Bureau Assistant Director, Viranga Bandara were also associated with the event.

World Elders’ Day is a time to recognize the wisdom, sacrifices and lifelong contributions of senior citizens. As life expectancy increases globally, societies must ensure that older people are not marginalized but supported to live with dignity, independence and purpose. Ageing is not a burden-it is a natural stage of life that deserves respect, planning and care. Building an inclusive society for elders involves addressing healthcare needs, social inclusion, financial security and emotional wellbeing.

Healthcare is one of the most critical areas affecting elders. Age-related illnesses such as diabetes, heart disease, arthritis and memory disorders require consistent medical attention. Unfortunately, many senior citizens face limited access to quality healthcare due to high costs, long travel distances or lack of support systems. Creating affordable and accessible healthcare facilities, mobile clinics and home-care services can significantly improve quality of life. Training caregivers and expanding geriatric healthcare programmes can also strengthen support for ageing populations.

Social inclusion is another essential element of elder wellbeing. Many senior citizens feel isolated after children migrate, friends pass away or retirement reduces daily social interactions. Loneliness can lead to depression, cognitive decline and other health issues. Community centres, religious institutions and social organizations can create opportunities for elders to interact, share experiences and participate in recreational or cultural activities. Intergenerational programmes that connect youth with older adults foster mutual understanding and combat age-based stereotypes.

Economic security is vital for elders to live independently. Many retirees rely on pensions, savings or their children for daily expenses. However, inadequate financial planning and rising living costs can place them in vulnerable positions. Governments and financial institutions should promote pension schemes, senior-friendly banking services and financial literacy programmes. Encouraging businesses to offer flexible part-time roles for capable retirees can also help them remain productive and maintain a sense of purpose.

Support for caregivers is equally important. Families often struggle to balance work, finances and elder care responsibilities. Providing caregiver training, respite services and community support networks can ease the burden and improve the standard of care. Policies that protect the rights of elders against neglect, abuse or exploitation are crucial to maintaining their dignity.

Technology can also be used positively to enhance the lives of older people. Telemedicine, emergency alert devices and digital communication platforms can help them stay connected and safe. However, many seniors may feel intimidated by technology. Offering training programmes and user-friendly tools ensures they are not left behind in the digital world.

Respect and compassion are the foundation of an inclusive society. Elders are reservoirs of wisdom, culture and life lessons. Family members, especially younger generations, should spend time listening to their stories, seeking their guidance and appreciating their experiences. Media and public campaigns can promote positive images of ageing and encourage communities to honour their elders.

On this World Elders’ Day, we are reminded that ageing with dignity is not a privilege but a right. A society that values its elders is one that preserves its history and strengthens its future. By investing in healthcare, social inclusion, financial stability and emotional support, we can create a world where senior citizens are not merely cared for, but celebrated. Ageing should be accompanied by respect, independence and happiness-and it is our collective duty to ensure that every elder has the chance to live with purpose and pride.

In the intricate tapestry of philanthropy, the Cyril Dharmawardana Foundation (CDF) emerges as a radiant thread, weaving compassion and care into the lives of terminally ill patients in Sri Lanka. Established in 2013 by Cyril’s son BinaraDharmawardana, this Australian-based Non-Profit charity organization holds a singular focus: providing transportation facilities for every single cancer and terminally ill patient during their treatment. Rooted in a vision of dignity and comfort, CDF operates the only state-of-the-art Non-Emergency Ambulance service dedicated to cancer patients in the Developing World.

A Vision Realized

The genesis of CDF finds its roots in the poignant journey of renowned Sri Lankan actor and public figure, Cyril Dharmawardana. Diagnosed with stage IV lung cancer, Cyril underwent treatment in Australia, where he experienced the stark contrast in medical facilities between his host country and his homeland. Witnessing this disparity, Cyril envisioned a service that would extend a compassionate hand to underprivileged communities grappling with poverty-related hardships. Tragically, Cyril Dharmawardana passed away in November 2013. Within a year of his demise, his vision crystallized into the Cyril Dharmawardana Foundation. BinaraDharmawardana, the founder, committed himself to honoring his father’s legacy by providing a crucial service that addressed the unmet needs of terminally ill patients in Sri Lanka.

A Lifeline for the Vulnerable

At the heart of CDF’s mission is the provision of free transportation services for patients between hospitals and their homes during their treatment. Currently operating in the Southern and North Central regions of Sri Lanka, as well as the main Cancer hospital in the Western Province of Colombo, this service is a beacon of hope for those grappling with the challenges of post-treatment journeys. In the Developing World, the reality for many terminally ill patients is a daunting journey home after treatment. Dusty, unhygienic roads and long trips on public transport exacerbate both physical and financial burdens. Some patients, constrained by financial difficulties, resort to lying on hospital floors or forgoing meals to save for bus fare. In response to this dire need, CDF has pioneered a Free Non-Emergency Ambulance service, offering a lifeline to patients by ensuring safe transportation from hospitals to their homes. Beyond the physical comfort it provides, this service shields patients from exposure to infectious diseases prevalent in public transport.

Global Contributions to Cancer Research

CDF’s impact extends beyond immediate patient care; the foundation actively supports the Peter MacCallum Cancer Center, a global leader in cancer research based in Australia. Through volunteer activities at Peter Mac’s fundraisers and annual donations, CDF contributes to breakthrough discoveries and effective treatments for various cancers, benefitting patients worldwide.

Proud Insurance Partner: Continental Insurance

Since 2015, Continental Insurance proudly stands as a partner to the Cyril Dharmawardana Foundation. This partnership reflects a shared commitment to assisting terminally ill patients with their transportation requirements between hospitals and homes during treatment. Regardless of the distance a patient needs to travel, this service is provided free of charge. Continental Insurance plays a vital role in ensuring the sustainability and success of CDF’s endeavors, further solidifying the foundation’s dedication to compassionate care.

Binara Dharmawardana: Steward of Compassion

At the helm of CDF stands Binara Dharmawardana, a visionary leader committed to translating compassion into action. Binara’s journey began with a profound personal experience – witnessing his father’s battle with stage IV lung cancer and the challenges he faced. This personal encounter fueled Binara’s commitment to realizing his father’s vision, providing dignity and comfort to the terminally ill. Under Binara’s leadership, CDF has become synonymous with compassion and care, symbolized by its state-of-the-art non-emergency ambulance service dedicated to cancer patients in the Developing World.

Elite Philanthropy Recognition: Royal Flying Doctor Service Gala

Binara Dharmawardana and the CDF team had the privilege of attending the Royal Flying Doctor Service annual Gala event in Australia. This exclusive event, attended by elite philanthropists, board members, and executive committees, recognized outstanding contributors to CDF in 2022. The gala not only highlighted the impactful initiatives of CDF but also showcased its commitment to excellence and innovation in healthcare services.

A Symphony of Compassion: How to Contribute

To sustain and expand its crucial services, CDF invites individuals and organizations to contribute in various impactful ways:

Sponsoring Operational Costs of Ambulances – Marketing and Advertising: Businesses and individuals can feature their signage or logos on ambulances, aligning with long-term projects and events.

Setting Up a Standing Order: Individuals can make regular contributions, dedicating specific days or periods in memory of loved ones.

Sponsoring an Ambulance: This option allows for personalized dedications or business logos on ambulances, creating a lasting tribute.

Instead of Flowers: Families can honor their loved ones by requesting donations to CDF in lieu of flowers at funerals.

Leave a Bequest in Your Will: Writing a will or part will for a benevolent cause ensures continued support for patients with terminal illnesses.

Organize a Birthday/Anniversary Fundraiser using Online Platforms Such as Facebook: Individuals can leverage online platforms like Facebook to create fundraisers, engaging friends and the wider community in contributing to CDF’s mission.

The Impact of Your Contribution

Contributions to CDF go beyond mere financial transactions; they represent a lifeline for those in desperate circumstances. By supporting CDF, donors contribute to the survival of a vital facility that ensures the highest level of quality care for patients with terminal illnesses during their most vulnerable times. Additionally, these contributions provide employment opportunities for dedicated staff, including ambulance drivers and patient careers, helping their families break free from the cycle of poverty. Donations and investments made to CDF are fully protected by the foundation’s insurance partner, Continental Insurance, and backed by DIMO agents for Mercedes Benz and Toyota in Sri Lanka.

Proud Collaborations: DIMO Lanka Mercedes Benz, Continental Insurance, CMA CGM

Since 2015, DIMO Lanka Mercedes Benz has served as the engineering partner for CDF, contributing their expertise and support. Alongside them, Continental Insurance, also a partner since 2015, has played a crucial role as the insurance partner, ensuring the protection and well-being of CDF’s operations. Adding to this collaborative effort, CMA CGM has been the shipping partner of CDF since 2014, facilitating the logistics and transportation aspects of the foundation’s endeavors. The enduring partnerships with these entities showcase the sustained commitment and support that CDF has garnered from key collaborators in different sectors, reinforcing the foundation’s ability to fulfill its mission effectively.

About Cyril Dharmawardana

Veteran actor and former Southern Provincial Council member Cyril Dharmawardana (67) passed away on November 8, 2013, at the Melbourne Peter Mac Hospital in Australia after battling cancer. Cyril JayatissaDharmawardana, who studied at Richmond College, Galle, made his debut as an actor in Henry Jayasena’s play ‘ManaranjanaWedaWarjana’.

He later acted in stage plays like Makara, ApataPutheMagakNethe, DiriyaMawa, Duwili, etc. but his role as Saranapala in KelaniPalama became the turning point in his career. As a film actor, he displayed his prowess in Walampuri, HimaGira, Mother Teresa, AmmaiDuwai, and other creations apart from tele dramas like Giraya, Bodima, NadeeGeethaya, Hiruta Muwawen (IndiappaKathawa), Siwu Diya Dahara, and several others.