Category: Daily Financial Times

Parliament’s Committee on Public Finance (CoPF) has raised concerns over whether the Finance Ministry’s Public Debt Management Office (PDMO) has the institutional capacity, governance framework, and specialist expertise required to manage Sri Lanka’s Rs. 31.1 trillion Government debt portfolio, while calling for a significant strengthening of the Office’s technical capabilities.

Reviewing the PDMO’s 2025 Annual Debt Management Report, CoPF members repeatedly questioned whether the Office, established under the Public Debt Management Act, No. 33 of 2024 and fully operational from December 2025, possesses the specialist skills needed to undertake sovereign debt management following the transfer of responsibilities from the Central Bank of Sri Lanka (CBSL).

Committee Chair MP Dr. Harsha de Silva opened proceedings by referring to the CoPF’s recently concluded investigation into the debt payment incident, telling officials the Committee had identified governance failures across multiple institutions and urging the office to strengthen its systems, governance structures, operational procedures, and technical controls.

He said Parliament had completed its work on the investigation and expected the Finance Ministry to report back on improvements to debt management processes.

During the review, MPs questioned the Office’s staffing structure, training programs, and operational readiness, arguing that debt management requires expertise comparable to that of professional treasury operations in international financial markets.

Committee members said even a 10-basis-point error in borrowing decisions could have significant financial implications for the Government while exposing officials to allegations over borrowing decisions, underscoring the need for specialised skills and stronger institutional safeguards.

The PDMO said it had undertaken training with International Monetary Fund (IMF) technical assistance and had identified capacity-building requirements, but acknowledged it did not possess a comprehensive Training Needs Assessment document.

The Committee said such an assessment was essential to guide recruitment, professional development, and future resource allocation, requesting the Office to submit the document within two weeks. The CoPF also indicated it would support increased Budgetary allocations for specialised training after reviewing the assessment.

Officials told the Committee the Office has an approved cadre of 80 staff, with around 60 positions currently filled, while one Assistant Director-General position remains vacant pending disciplinary proceedings involving the previous office holder. They said most executive-level positions had been filled, although additional recruitment remained necessary.

The Committee also questioned whether the Finance Ministry’s allocation of Rs. 2 million for training was sufficient for an institution responsible for managing billions of dollars in Government borrowing, with members arguing that investment in specialist training would yield significant savings by improving borrowing decisions. Officials said much of the training currently depended on grant assistance from international development partners.

The review also highlighted broader policy challenges facing the debt office.

PDMO officials said their medium-term strategy is to gradually reduce reliance on Treasury Bills, increase issuance of longer-term Treasury Bonds, and reduce external borrowing. However, Committee members questioned whether those objectives could be achieved while domestic interest rates remain elevated.

Officials acknowledged that successful implementation of the strategy would require closer coordination between fiscal and monetary authorities, although MPs argued the CBSL’s inflation-targeting mandate means the debt office cannot rely on monetary policy to reduce borrowing costs.

The Committee urged the PDMO to strengthen its own market expertise and institutional capacity to operate effectively under changing market conditions rather than depend on lower interest rates.

The Colombo stock market yesterday extended its recovery into a second session, calmed by the temporary cessation of bombings in the Middle East.

With 124 counters ending in green compared to 84 in the red, the ASPI ended up 0.20% or 41.92 points at 21,229.14 and the S and P SL20 was up 0.21% or 12.66 points at 5,961.40.

Market turnover was over Rs. 2 billion on nearly 87.5 million shares traded. Foreign investors were net sellers on a net outflow of over Rs. 1 billion.

The top contributors to the ASPI were Colombo Dockyard, John Keells Holdings, Commercial Bank, ACL Cables and NDB Bank.

First Capital Research said investor sentiment remained positive, with buying interest in selected blue-chip counters supporting the market’s upward movement.

High-net-worth (HNW) and institutional investor participation primarily supported the ASPI, while retail investor participation remained at average levels.

The retailing sector led the daily turnover with a share of 51%, followed by the banking, and capital goods sectors collectively contributing 24%.

Sri Lanka Women completed their first bilateral ODI series win over Pakistan Women in 24 years, winning the third game convincingly at the Mahinda Rajapaksa Cricket Stadium, Hambantota yesterday to take the series 2-1.

For the second time in three days, Sri Lanka’s top order cruised to an eight-wicket win, although the target proved much easier for the series decider.

Put in to bat, Pakistan suffered a triple blow in the second over itself when Chetana Vimukthi, playing just her fifth ODI, tore through the top order. Two overs in, Pakistan were down to 10-3.

Gull Feroza, Player of the Match in the first game, then started a slow but assured rebuilding passage alongside Muneeba Ali. They put on 68 runs together, before Chamari Athapaththu broke the stand, snaring Feroza for the first of her three wickets. Najiha Alvi then stitched together another brief resistance with Muneeba, but the latter’s dismissal kicked off a second collapse. From 110-4, they tumbled to 146-7.

If it weren’t for Captain Fatima Sana’s 41 off 49 balls, Sri Lanka could have been left with a much smaller total. With little company around, she pushed them closer to 200, but Athapaththu and Kavisha Dilhari cleaned up the rest by the 40th over. Sri Lanka were left with 188 to seal the series.

Vishmi Gunaratne, their centurion from the previous game, fell in the seventh over after putting on a steady opening stand of 46 off 39 balls with a free-flowing Athapaththu. The Sri Lanka Captain went after Tasmia Rubab the previous over, hitting three fours and a six. The scoring rate dipped after Gunaratne got out, but Pakistan did not find another breakthrough until the 16th over. By then, Athapaththu had completed her 30th fifty-plus score in ODIs – 52 off 38 balls (7 fours, 2 sixes), and half the required runs had been shaved off.

Harshitha Samarawickrama (71* off 92 balls, 11 fours), the other centurion from the second ODI, then put on an undefeated stand of 106 off 137 balls with Hasini Perera (50* off 77 balls, 8 fours), who continues to have a great year with the bat. Having not scored a single fifty in the first nine years of her ODI career, she got to her first one last year, and now has three this year.

The chase was completed with 76 balls to spare, giving Sri Lanka their first bilateral series win over the opponents since 2002, and breaking a sequence of four series wins for Pakistan. Athapaththu was declared the Player of the Match for her all-round showing, while Samarawickrama finished with the Player of the Series award, scoring 173 runs while being dismissed only once in three games.

The T20I series between the two teams begins on July 31, in Dambulla.

Scores:

Pakistan Women 187 (40) (Gull Feroza 40, Muneeba Ali 34, Najiha Alvi 30, Fatima Sana 41, Chethana Vimukthi 3/36, Chamari Athapaththu 3/27, Kavisha Dilhari 3/27) vs. Sri Lanka Women 191-2 (37.2) (Chamari Athapaththu 52, Harshitha Samarawickrama 71*, Hasini Perera 50*)

Luxury boutique hotel ‘Serene Pavilions’ has been recently relaunched under the brand name CLOVE Beach – Wadduwa’ following refurbishment.

The move follows the acquisition of Serene Pavilions Ltd., by MAC Hotels and Villas Ltd., a fully owned subsidiary of MAC Holdings Ltd. This marks MAC’s entry to the luxury hotel industry with its first luxury hotel property acquisition.

Nestled along the southern coastal belt of Wadduwa just an hour’s drive from Colombo, CLOVE Beach – Wadduwa offers guests an unparalleled oasis of serenity, luxury, and indulgence, and truly defines the epitome of luxury living. This elegant beach-side haven sits amidst a large variety of trees with incredible views of the Indian Ocean.

Surrounded by lush gardens, aromatic Araliya blooms, and variety of trees, the property features 12 Balinese style inspired exclusive pavilions (15 rooms) designed to provide unmatched luxury, privacy, tranquility and exceptional service with a wide range of facilities (Private Dining, Butler service, Bar and Restaurant, Swimming Pool with submerged Jacuzzi beds, Private Plunge pool, SPA and Gymnasium). The three pavilion types include Single Bedroom Ocean Pavilion – 8 Units – 2,350 sq. ft, Single Bedroom Garden Pavilion – 1 Unit – 1,430 sq. ft and Two-Bedroom Garden Pavilion – 3 Units – 2,100 sq. ft. giving ample space for any guest choosing Clove as their holiday destination

Perfect for weddings, honeymoons, celebrations, or a simple rejuvenating getaway, ‘CLOVE Beach – Wadduwa’ is more than a destination, it is a lifestyle. CLOVE Beach – Wadduwa redefines luxury hospitality in Sri Lanka.

DFCC Bank has introduced Sri Lanka’s first ATMs and Cash Recycler Machines (CRMs) offering transactions in eight languages, enabling international visitors and local customers to withdraw or deposit cash in the language most familiar to them.

Now available in the arrivals area of Bandaranaike International Airport (BIA) and at DFCC Bank locations in Hiriketiya, Ella, and Arugam Bay, the service offers English, Sinhala, Tamil, French, Chinese, Russian, Hindi, and German, with a wider rollout across the bank’s countrywide network.

The facility removes a practical barrier that can make even a simple transaction difficult. Foreign visitors navigating an unfamiliar country can withdraw cash without having to interpret banking instructions in another language, while Sri Lankan customers can use self-service banking in Sinhala, Tamil, or English.

At BIA, the multilingual facility may be one of a visitor’s first experiences of service in Sri Lanka.

DFCC…

Making that interaction clear and familiar extends the country’s welcome into an essential everyday service. By introducing the facility across the island, including key tourist destinations such as Hiriketiya, Ella, and Arugam Bay, DFCC Bank is carrying that experience into local destinations that attract travellers from around the world.

The initiative comes as tourism continues to play an important role in Sri Lanka’s economy. The country welcomed 2.36 million visitors in 2025, followed by a further 1.15 million during the first six months of 2026, according to the Sri Lanka Tourism Development Authority (SLTDA). As Sri Lanka attracts more visitors, the services they rely on must become easier to access across languages and nationalities.

Users select their preferred language at the beginning of the transaction and follow the on-screen instructions in that language. DFCC Bank ATMs facilitate cash withdrawals, while CRMs enable customers to both deposit and withdraw cash.

DFCC Bank CEO Thimal Perera said: ‘Banking cannot be truly accessible if language remains a barrier. Service beyond borders begins with understanding who is using the service and removing the barriers they face, whether that is an international visitor looking for a familiar language or a Sri Lankan who prefers to bank in English, Sinhala, or Tamil. A choice of language on a screen may seem small, but it signals a much bigger shift. The customer no longer has to adapt to the technology. The technology adapts to the customer. That is real progress. It removes difficulty, widens access, and gives more people the confidence to transact independently.’

DFCC Bank has expanded the facility progressively across its ATM and CRM network, prioritising tourism destinations, points of arrival, and other locations where multilingual access can make the greatest practical difference.

Saudi Arabia’s Foreign Ministry yesterday condemned attacks on the Kingdom saying it reserves the right to respond to the source of ‘the aggression’ and deter those responsible.

Saudi forces attacked Yemen’s Houthi-held city of Hodeidah on Friday in the latest escalation of their conflict during the regional war between the United States and Iran.

The port of Hodeidah is a crucial lifeline for the parts of Yemen under Houthi control, handling the bulk of commercial and humanitarian imports into Houthi-controlled northern Yemen.

Major-General Turki al-Maliki, spokesman for the Saudi-led coalition in Yemen, blamed the Houthis for the escalation, calling their attacks on Red Sea shipping ‘cowardly and reckless’.

PALLEKELE: Defending champions Jaffna Kings joined Galle Gallants at the top of the table when they beat Colombo Kaps by 19 runs in the first match of the Lanka Premier League leg played at the Pallekele Cricket Stadium yesterday.

Both teams came to the match with an identical record of three wins and six points and it was Jaffna Kings who came out on top with a superlative performance with both bat and ball. They hit up a challenging total of 202-5 and kept Colombo Kaps pegged down to 183-9.

What made the difference was Towhid Hridoy’s late blitz in Jaffna Kings’ innings combined with costly dropped catches and misfields that cost Colombo Kaps the game.

The early loss of Rubin Hermann put Colombo Kaps on the back foot, but Sadeera Samarawickrama and Ashen Bandara fought back to steady the ship, adding 50 off 33 balls. Just as the fielding restrictions were lifted, disaster struck when Bandara threw his wicket away in a suicidal run-out. Skipper Kamindu Mendis carried on his fine form, playing a rapid 28 off 13 before falling in the 11th over. Dunith Wellalage brought into the attack in the 12th over struck immediately by removing the set Samarawickrama for 44 (36 balls, 4 fours, 2 sixes). Janith Liyanage and Milan Rathnayaka briefly reignited hope with a flurry of boundaries, but the target proved too much for the men in yellow.

Jaffna Kings bowlers were disciplined with their lines and lengths at the death and were backed up by some top-notch fielding. Late hitting from Janith Liyanage, Malsha Tharupathi, and James Neesham only managed to narrow the margin. Dilshan Madushanka was the pick of the attack with three wickets, while Lizaad Williams claimed two to become the highest wicket-taker in the tournament with 12 wickets and received the purple cap.

Jaffna Kings’ innings got off to a flier with Kamil Mishara hitting boundaries through the off-side and straight down the ground. He put the pressure right back on Colombo Kaps in the fourth over, smashing Shahnawaz Dahani for back to back sixes and a boundary in a 21-run over. Despite losing Avishka Fernando early, Jaffna Kings posted 61 runs in the powerplay, largely due to Mishara’s boundary fest. The 50-run stand off 29 balls between Mishara and Ibrahim Zadran was broken when Mishara was caught at deep cover for a 19-ball 44 (6 fours, 2 sixes). Zadran was handed a lifeline on 21 when Malsha Tharupathi dropped a simple caught and bowled chance. He laboured his way to a 41-ball half-century, surviving another drop on 56 when Milan Rathnayaka put him down at deep midwicket.

Dunith Wellalage promoted up the order struggled to get going, scoring 18 off 19 before being retired out in the 16th over. Zadran was dropped yet again on 80, Rathnayaka being the culprit at deep midwicket once again. He made Colombo Kaps play dearly for those lapses by smashing 22 runs off Mujeeb Ur Rahman’s final over to inject some real momentum into the innings. Colombo Kaps bowled brilliantly through the middle overs, but their death bowling fell apart with a flurry of full tosses and short balls and their fielders continued to let them down. Zadran was eventually run out for 95 off 65 balls (12 fours, 3 sixes), falling just short of a hundred with seven balls left in the innings.

Towhid Hridoy provided the finishing touches, launching Dahani for three consecutive sixes in the final over before adding another maximum and a boundary to finish unbeaten on 31 off just 8 balls (1 four, 4 sixes). To sum up the night for Colombo Kaps another catch was put down in the last over by Tharupathi. Neesham picked up two wickets while Mujeeb claimed one, but Hridoy’s late blitz propelled Jaffna Kings past the 200-run mark. – [ST]

Scores:

Jaffna Kings 202-5 (20) (Kamil Mishara 44, Ibrahim Zadran 95, Towhid Hridoy 31*, James Neesham 2/30) vs. Colombo Kaps 183-9 (20) (Sadeera Samarawickrama 44, Kamindu Mendis 28, Milan Rathnayaka 26, Janith Liyanage 20, Dilshan Madushanka 3/30, Lizaad Williams 2/47)

The global scramble for critical minerals has prompted an optimistic narrative: that mineral-rich developing states of the Global South are finally positioned to claim greater agency in world affairs. With both the US and China scrambling for access to lithium, cobalt, copper and rare earth elements, the logic seems straightforward – those who hold the minerals hold the leverage. Sri Lanka, with its deposits of graphite, heavy mineral sands and phosphate, is no stranger to this conversation. But evidence suggests that the reality of possessing critical minerals translating into strategic agency for developing states is far more complicated.

Policy discourse has long framed the critical mineral boom as a dual win. For the West, access to global south’s mineral reserves offers an answer to its quest to break away from China’s stranglehold on the critical mineral value chain, especially in mineral refining. For the global south, without the relative benefit of conventional forms of power, it could offer greater agency and leverage. Developing states are now positioning their mineral wealth at the heart of their strategies for structural reform. With both the US and China scrambling for access to their critical minerals, these mineral-endowed states are assumed to gain greater leverage to decide who to partner with and on what terms.

The capital deficit

But the mineral value chain is much more nuanced. Exploration, mining and processing of critical minerals require high capital, advanced technology and time. Once a potential mine is discovered, its exploration and production can take an average of 16-18 years. The most capital-intensive stages – actual mining and construction of mineral processing infrastructure – can still take up to five years, meaning a commercial mine could take years before starting to make any profit.

This is why China dominates the global mineral industry. China’s mineral boom started as early as the 1990s, long before critical minerals became a geoeconomic hype. Its subsidy-backed state-owned enterprise model ensured that China could invest high capital in both mining and processing and sustain for years until the mines started to make profit. Today, China is deeply embedded in the global critical mineral value chain, owning multiple overseas mines and extensive mineral processing facilities than its own domestic mining output can feed. Its growing electric vehicle and permanent magnet industries further solidify China’s dominance in the global critical mineral sector.

The processing chokepoint

Beyond simple extraction, the primary chokepoint in the critical mineral value chain lies in midstream processing, a domain where the capacity of developing countries is most severely curtailed. The initial mined ore does not carry significant commercial value unlike the processed

minerals and their end products like EV batteries. Currently most developing countries, despite mining commercially valuable and strategically important minerals, export their mining output to China, in raw or semi-processed forms with very low commercial value.

The Serra Verde rare earth mine in Brazil illustrates this starkly. Brazil’s first rare earth mine and the only at-scale producer outside Asia of four key rare earth elements, Serra Verde’s entire mineral output was exported to China for processing through a ten year offtake agreement, because no other state at the time had the capacities to process them. This locked Serra Verde into an asymmetric partnership with China. Brazil was deprived of greater agency despite possessing the mine, while China continued to take home the greater profit. In April this year, Serra Verde was acquired by USA Rare Earth – a US-listed rare earth company – which also came with a similar offtake agreement that mandated Serra Verde’s minerals must go to processing facilities of US and its allies. Such agreements show that though the processing destination might change, the greater value of minerals are reaped far away from their origin.

Without vertical integration of mining and processing at home, the mineral producers of the developing world will continue to be confined to extraction, depriving them of the ability to capitalise on their mineral wealth for economic gain and strategic agency.

Not all minerals are equal

Although the umbrella term ‘critical minerals’ is widely used in geoeconomic contexts, not all minerals that make it onto strategic lists are equally valuable or in demand. Their criticality and value also fluctuate over time depending on the geographic dispersion of mines, innovation of technology, and overall global demand. Minerals like lithium, cobalt and copper have higher demand due to their geographic exclusivity and indispensability for batteries and green energy.

For example, Sri Lanka’s graphite and heavy mineral sands are significant but lack the criticality of cobalt, lithium or rare earths where high demand is coupled with potential supply risk. In contrast to Vietnam that boasts of the world’s second largest rare earth reserves, or Indonesia which dominates 59% of global nickel production, Sri Lanka does not possess a near-monopoly over any high-demand resource, which limits the strategic leverage its mineral wealth can generate. What Sri Lanka could focus instead is on increasing the revenue from existing mineral exports with further value addition for which it requires significant foreign capital investment. But as a small state it should also be mindful when negotiating mineral partnerships with foreign entities, to ensure that Sri Lanka gets a fair bargain without having to sacrifice its resource sovereignty, environmental sustainability and wellbeing of its communities, if not to replicate the destiny of many other mining states of the global south.

Who actually holds power?

A contemporary examination of the DRC’s cobalt sector provides a clear illustration of asymmetric power distribution in mineral partnerships. In October 2025, the DRC imposed a quota system for cobalt export responding to excess production that plunged global prices and thereby DRC’s cobalt revenue. While this appears as the DRC exercising agency, its actual depth of reliance on Chinese firms for cobalt mining and refining exposes a greater structural limitation on that agency. For example, a long term minerals for infrastructure agreement, commonly referred to as Sicomines agreement, obligates China to develop essential infrastructure in the DRC, the debt of which the latter must pay back in the form of mineral exports to China. Therefore, even under the new quota system, the payback to Sicomines takes precedence as a state-backed priority because DRC cannot reallocate mineral exports elsewhere without causing a default on its Sicomines infrastructure loan of approximately $7 billion.

The DRC case shows that more than the mineral-bearing state, the mining firms of mostly foreign ownership have greater agency. Mining companies have significant leverage over not only the operation of mines but also the ability to influence mineral prices through their control over capital investments and global supply.

Lessons for Sri Lanka

The global shift towards technological advancement and decarbonisation has triggered an unprecedented surge in demand for critical minerals, positioning the global south as a potential alternative player. But while mineral endowments offer global south states clear advantages in revenue, infrastructure and job creation, these benefits do not inherently guarantee the strategic agency necessary to overcome structural vulnerabilities. Possessing mines is only the beginning. Without processing capacity, vertical integration, and the type of mineral exclusivity that generates genuine leverage, the strategic agency through critical minerals remains largely out of reach.

Sri Lanka wouldn’t need to look far to learn from its global south counterparts on how to tap into its mineral resources and how to negotiate mineral deals. Mineral-endowed states in Southeast Asia, Africa and Latin America provide ample case studies on both positive and negative impacts of the mineral industry. With a new national policy for mineral governance and an increasing interest from foreign investors what Sri Lanka now needs is a realistic appraisal of its mineral industry against its capacities, potential revenue and impact on the environment and communities. It needs clarity on whether domestic value addition is feasible without having to succumb to asymmetric dependencies with foreign entities and whether Sri Lanka’s mineral wealth translate into genuine strategic leverage.

‘Forward Faster Now|APAC 2026’ in August will bring together leaders from business, policy makers, sustainability practitioners, and the United Nations across Asia-Pacific to strengthen partnerships, advance dialogue and accelerate sustainable business leadership for a more resilient, inclusive and prosperous future.

Titled ‘Forward Faster Now|APAC 2026: Driving Business Leadership for Sustainable and Inclusive Growth,’ the United Nations Global Compact’s flagship regional event for Asia-Pacific. Bringing together over 200 business leaders, sustainability practitioners, policymakers, representatives from the United Nations and UN Global Compact Country Networks from across the region, the two-day event will provide a platform to strengthen partnerships, exchange practical solutions and mobilise business leadership in support of the 10 Principles of the United Nations Global Compact and the Sustainable Development Goals (SDGs). ‘Forward Faster Now|APAC 2026’ will take place in Colombo, Sri Lanka, on 11-12 August 2026.

Led by the UN Global Compact Asia-Pacific Regional Hub and hosted in collaboration with UN Global Compact Network Sri Lanka, the regional event reflects a shared commitment to advancing responsible business and strengthening regional collaboration at a time when sustainable development depends on collective leadership and cross-sector cooperation.

The event will welcome United Nations Global Compact Assistant Secretary-General, CEO/Executive Director Sanda Ojiambo, whose presence spotlights the strategic importance of the Asia-Pacific region within the United Nations Global Compact. Her first official visit to Sri Lanka signals the growing role of the region in driving responsible business and sustainable development, while offering participating companies a unique opportunity to engage with global leadership, showcase their sustainability journeys, and help shape the next chapter of collective action towards the Sustainable Development Goals.

Alongside Sanda Ojiambo, the Forum will also convene more than 60 global and regional leaders from business, the United Nations and civil society, including Dilmah Ceylon Tea Company Chairman and UN Global Compact Network Sri Lanka Chairman Dilhan C. Fernando, and Mirait One Corporation ESG Executive Adviser Sandra Wu, fostering dialogue and collaboration to accelerate business leadership for sustainable and inclusive growth across Asia-Pacific.

‘Forward Faster Now|APAC 2026’ also marks an important milestone in advancing the United Nations Global Compact’s 2026-2030 Strategy, which places renewed emphasis on equipping businesses with the knowledge, tools and partnerships needed to accelerate sustainable business transformation, catalysing collaboration to address shared global challenges, and advancing responsible business leadership as a cornerstone of sustainable development. As one of the first flagship regional events aligned with this strategic direction, the event will help translate global ambition into regional action by connecting leaders, sharing practical experience and fostering the partnerships needed to create lasting impact.

Hosting the United Nations Global Compact’s flagship regional event is particularly significant as UN Global Compact Network Sri Lanka completes 15 years. Over the past 15 years,

the Network has evolved into Sri Lanka’s leading platform for corporate sustainability, supporting businesses in embedding the the 10 Principles of the United Nations Global Compact into strategy and operations while strengthening dialogue, building capacity and fostering collaboration on the country’s most pressing sustainability priorities.

Spanning two days, the event will feature a dynamic program of leadership dialogues, interactive sessions, technical exchanges and networking opportunities, co-developed by 15 countries and the regional hub, reflecting the key priorities across the region and designed to equip businesses with practical insights while strengthening regional cooperation. Participants will explore the issues shaping the future of sustainable business, including climate action, sustainable finance, water resilience, governance and accountability, gender equality, business and human rights, digital innovation, circularity, responsible supply chains and cross-sector partnerships. Throughout the program, the emphasis will remain firmly on implementation-showcasing practical business solutions and innovative approaches that enable companies to accelerate progress and create long-term value.

As part of the ‘Forward Faster Now|APAC 2026’, the SDG Investment Forum, convened in collaboration with the United Nations Principles for Responsible Investment (UN PRI), the anchor partnership of United Nations Environment Program Finance Initiative (UNEP FI) will provide a dedicated platform to strengthen dialogue on sustainable finance and mobilise the investment needed to accelerate progress towards the Sustainable Development Goals (SDGs). Through discussions on responsible investment, innovative financing mechanisms and opportunities for cross-sector collaboration, the forum will demonstrate how public and private capital can work together to unlock sustainable and inclusive growth. The SDG Investment Forum reinforces the shared commitment of the United Nations system, financial institutions and the private sector to mobilising capital for sustainable development across Asia-Pacific.

In a bid to meet the growing demand for heavy construction equipment in the industry and marking a new chapter of growth, AA3 Holdings Ltd. opened its state-of-the-art showroom and fully equipped workshop facility in Kiribathgoda today.

The showroom also houses the largest ex-stock inventory of heavy equipment in Sri Lanka, providing customers with faster access to machinery and strengthening AA3 Holdings’ competitive advantage in the market.

‘This milestone expansion has been strategically engineered to enhance our service capabilities and deliver an unparalleled ownership experience to our growing clientele,’ said AA3 Holdings Chairman/Managing Director Supun Perera.

A highly respected Sri Lankan conglomerate with a heritage dating back to 1986, AA3 Holdings is a premier provider of heavy construction machinery and mining equipment in Sri Lanka and operates as a strategic subsidiary of the diversified Udeshi Group.

‘The next-generation showroom, showcasing the latest machinery innovations, allows clients to explore top-tier earthmoving, excavation and road construction equipment firsthand across Sri Lanka and the Maldives,’ he said.

The advanced workshop facility is equipped with cutting-edge diagnostic tools and specialised repair machinery to ensure rapid turnaround times and precision servicing.

‘We also provide elite after-sales support, backed by a team of factory-trained technicians dedicated to maximising machinery uptime and operational efficiency for our customers’ projects,’ he added.

CASE APAC Vice President Emre Karazli said Sri Lanka represents a growing market with significant opportunities, particularly with the advancement of infrastructure projects and expansion of road networks.

He added that CASE places strong emphasis on manufacturing environmentally responsible equipment with reduced emissions, while continuing to deliver high performance and efficiency.

He also disclosed that the company is also building their modern factory in India.

CASE Managing Director Shalahh Chaathurvedi said the company would also host its annual dealer convention in Colombo on Friday and Saturday, with more than 150 international delegates expected to participate, making it one of the largest MICE events held in Sri Lanka this year.

‘Hosting this event in Sri Lanka further demonstrates our commitment to and confidence in the country,’ he said.

‘This expansion further strengthens AA3 Holdings’ commitment not only to supplying world-class machinery but also to providing the high-calibre engineering support and technical expertise required by modern industries,’ said AA3 Holdings Ltd. newly appointed General Manager Prasanna Katuwandeniya.