Category: Daily Financial Times

The International Network of Elite Women (INEW) has formally launched its Sri Lanka Chapter, marking the network’s arrival in the country with an inaugural gathering of accomplished women leaders in Colombo.

The launch brought together distinguished women from business, diplomacy and the professional community and centred on a substantive conversation about how to strengthen investment, trade and Sri Lanka’s standing in the wider world, and how enterprise can improve lives at home.

INEW is an international network that connects accomplished women across countries and industries. Rather than operating as a conventional professional association, it positions itself as a community in which members build trusted, long-term relationships that lead to collaboration, mentorship and opportunity across borders.

The afternoon was deliberately intimate. In place of a large reception, the launch was built around genuine connection and considered discussion: a small, curated group of women in unhurried conversation rather than conventional networking.

Much of the conversation turned on practical ideas for growth: how Sri Lankan businesses might reach new markets across borders, learn from models that have worked in other countries, and move into innovative, high-value manufacturing at home.

Participants also spoke about the value of shared access, drawing on established international networks to exchange contacts, open doors and connect Sri Lankan enterprise to opportunity abroad. Throughout, the discussion tied that economic ambition to a broader purpose: improving lives and livelihoods through trade, investment and enterprise.

The gathering was joined by two special guests. Ambassador of the Republic of Korea to Sri Lanka Miyon Lee and Madam Khin Sanda Win took part in the discussion on advancing investment and trade for the country. Attending as guests rather than members, they brought an international and diplomatic perspective to a conversation focused on Sri Lanka’s economic engagement with the world.

The Sri Lanka Chapter aims to connect accomplished Sri Lankan women with an influential global community, and to give internationally minded women based in the country a forum for collaboration that reaches beyond its borders. Its organizers describe the chapter as a bridge – linking Sri Lankan leadership to networks across Asia, Europe, the Middle East and North America and creating a setting in which conversations about new markets, trade, investment and cross-border opportunity can take place among trusted peers.

The chapter is led by Sarrah Sammoon, who serves as Chapter President for both Sri Lanka and the Washington, D.C. metropolitan area. Sammoon, who works across Sri Lanka and the United States, has spent more than three decades in international business, global mobility and investment migration. Her dual appointment reflects a commitment to building bridges between countries, and she describes herself as a global citizen working across the two regions she calls home.

“The most useful thing a room like this can do is connect Sri Lanka’s leaders to the markets, ideas and people that help the country grow,” Sammoon said. “Whether that means learning from how others have built their businesses, reaching new buyers across borders, or making something extraordinary here at home, this launch was about beginning that conversation – among women who can genuinely move it forward.”

The launch marks the beginning of a series of carefully curated gatherings the chapter intends to host, including leadership conversations, international collaborations and cross-border opportunities for its members in the months ahead.

INEW Sri Lanka extended its thanks to its special guests, Ambassador Miyon Lee and Madam Khin Sanda Win, for lending their time and perspective to the discussion on investment and trade. The chapter also acknowledged the women leaders who took part in the inaugural gathering, among them Namalie Menikdiwela, Co-President of INEW Sri Lanka, Countess Shakuntala Schott, Natharlea Yahampath, Ramani Ponnambalam, Gigja Sorenson and Sonia Hirdaramani whose presence and contribution set the tone for the chapter’s founding.

INEW Sri Lanka welcomes accomplished women who believe in collaboration over competition and who wish to build meaningful international relationships. Membership is by invitation.

Ceylon Investment PLC has announced plans to repurchase up to 1,800,014 ordinary shares for a maximum consideration of approximately Rs. 366 million under a share buyback approved by its Board of Directors.

The shares will be repurchased at Rs. 203.33 each, with the offer applying on the basis of one ordinary share for every 54 ordinary shares held by shareholders.

The total value of the proposed repurchase is Rs. 365,996,846.62.

Subject to regulatory concurrence, the company has proposed that the repurchase offer will open on 2 September and close on 23 September.

Ceylon Investment said its Articles of Association permit the company to repurchase its own shares with Board approval, without requiring shareholder approval, provided the transaction complies with the Companies Act.

The Board has also signed a Certificate of Solvency under Section 56(3) of the Companies Act, confirming that the company will satisfy the statutory solvency test immediately upon completion of the repurchase.

The company said it will submit the draft offer document to the Colombo Stock Exchange for its concurrence, after which the final timetable for the repurchase will be announced.

The share ended 30 cents lower yesterday at Rs. 99.70. The company reported 33.42% public float as of end-March 2026. Ceylon Guardian Investment Trust was the top shareholder with a 66.58% stake followed by JB Cocoshell Ltd. 1.56%, GIA de Silva 1.35%, ML de Silva 1.35% and Associated Electrical Corporation Ltd. 1.16%.

Cinnamon Lakeside Colombo invites guests to discover the rich flavours and culinary traditions of the Maldives through a special Maldivian Food Festival, taking place from 24 to 26 July 2026 at The Dining Room fro, 7.00 p.m. onwards.

Created in collaboration with the Maldivian High Commission, the three night promotion will offer guests an opportunity to experience the distinctive tastes of the island nation, where fresh seafood, coconut, aromatic spices and time honoured cooking traditions come together.

The festival will be led by visiting Maldivian chefs Chef Ibrahim Zuhair and Chef Hussain Mohamed, who will bring their extensive culinary knowledge and experience to Cinnamon Lakeside Colombo.

Chef Ibrahim Zuhair is an accomplished Executive Chef with over 15 years of experience across luxury resorts, restaurants and catering operations in the Maldives. His career includes senior culinary roles at Soneva Jani, Siyam World and Oaga Art Resort, as well as serving as Head Chef at the Official Residence of the President of the Maldives. He has also received recognition at regional culinary competitions, including second place at the Indonesia International Halal Chef Competition in 2023.

Chef Hussain Mohamed brings more than two decades of experience in luxury hospitality, specialising in kitchen operations, food safety, cost control and the leadership of multicultural culinary teams. His career includes experience at leading Maldivian resorts and hospitality brands, including Baros Maldives, Veligandu Island Resort, W Maldives, Fairmont Sirru Fen Fushi, Velaa Private Island and Hilton Maldives Resort.

Together, the two chefs will showcase a selection of authentic Maldivian favourites and contemporary interpretations inspired by the islands’ culinary heritage.

Signature highlights include:

nMaldivian Prawn Tartare: A fresh and delicately seasoned prawn preparation that highlights the natural sweetness of seafood, balanced with island-inspired flavours and a refreshing finish.

nGarudhiya Inspired Baked Reef Fish: A contemporary interpretation of the traditional Maldivian fish broth, featuring baked reef fish enhanced with aromatic spices, citrus and flavours inspired by the much loved Garudhiya.

nMas Huni with Coconut Roshi: A traditional Maldivian favourite combining finely flaked tuna, freshly grated coconut, onion and chilli, served with soft coconut roshi. Simple yet full of flavour, it remains one of the Maldives’ most cherished dishes.

The promotion reflects Cinnamon Lakeside Colombo’s continued commitment to introducing guests to diverse regional cuisines through authentic culinary experiences. Similar to its previous international food showcases, the festival brings together visiting culinary talent, traditional cooking methods and carefully selected signature dishes.

The Dining Room, Cinnamon Lakeside Colombo, priced at Rs. 8,000 nett per person.For reservations and enquiries, please contact 011 249 1900.

Beruwala Resorts PLC has proposed a Rs. 398 million rights issue to raise funds for the refurbishment of The Palms Beruwala hotel and meet working capital requirements.

The Board of Directors had approved the issue of 318,429,225 ordinary shares at Rs. 1.25 per share, on the basis of five new shares for every 11 existing ordinary shares held by shareholders. The share ended 10 cents down yesterday at Rs. 2.90.

The company reported a 29.83% public float. As of end-March 2026, Colombo Fort Hotels Ltd was the top shareholder with a 66.25% stake, followed by SA and PT Cooray 2.14%, Financial Trust Ltd. 2.03% and L.P. Hapangama 1.27% and KGL Wijayathilake 0.74%.

The Board said the consideration at which the shares would be issued was fair and reasonable to the company and existing shareholders.

The proceeds from the rights issue will be used to complete refurbishment work at The Palms Beruwala and support the company’s working capital requirements.

The proposed issue is subject to in-principle approval from the Colombo Stock Exchange, listing approval for the new shares and shareholder approval at an Extraordinary General Meeting.

Beruwala Resorts has a stated capital of Rs. 120 million.

The stage is set for another unforgettable chapter in Sri Lanka’s premier schools rugby encounter when Trinity College host Royal College in the decisive second leg of the 80th Bradby Shield encounter at the Trinity College Rugby Stadium, Pallekele.

The senior encounter will kick off at 4.15 p.m., while the Under-16 match, played for the L.E. Simithrarachchi Trophy, will begin at 2.50 p.m.

Trinity enter the return leg with a commanding 33-10 first-leg victory at Reid Avenue, giving the hosts a Trinity leads the series with 40 wins to Royal’s 37, while two games have ended in a tie.

Another Japanese referee, Yusaku Murata, will handle the pressure from the centre.

Sashi Perera, one of Australia’s fastest-rising comedy voices, recognised for her sharp observations on culture, identity, family and belonging, will perform today and tomorrow in Colombo, to enthrall Sri Lankans.

Born in Colombo and now based in Melbourne, Sashi brings a distinctly Sri Lankan perspective to international audiences. Formerly a refugee lawyer, she has since amassed over 60 million online views through her comedy.

Her “Pear Tree” explores a series of “pear-shaped” events spanning Sri Lanka and Australia through stories of migration, race, love, family and home.

The Sri Lankan tour follows multiple sold-out performances across Australia, New Zealand, the United Kingdom and Europe, reinforcing Sashi’s growing international profile.

Today (24 July) the Pear Tree Matinee performance will be at 4.00 p.m. at the Elphinstone Theatre and Pear Tree Main show at 7.00 p.m. It features opening acts by Lushani Wijayasekara and Dylan J. Prins.

Tomorrow (25 July) “Pear Tree Salon,” will be held at 7.30 p.m. at COCO Bar. It is an event with an “In Conversation” format with Sashi, with complimentary cocktails. Signed copies of her debut memoir “Standstill” are exclusively available to purchase at this event. The official after party will be at 9.30 p.m.

Sashi did two previous sold-out performances, including an appearance at the 2024 Galle Literary Festival.

Pear Tree in Colombo will explore identity, belonging, family legacy and cultural connection through humour. The Sri Lanka tour represents a meaningful homecoming, reconnecting Sashi with the country where her story began.

The performances are organised by Scarlet Cat, a solutions-driven public relations and strategic communications consultancy spearheaded by its Founder, Jessica Fernando.

Tickets for the Colombo show are available via sashiperera.com or scarletcatonline.com

Sashi’s surname – Perera – means pear tree in Portuguese. You won’t believe how mad Portugal gets if you mention why it’s a super common name in Sri Lanka. Pear Tree is a stand-up comedy show about pear-shaped events between Sri Lanka and Australia. It’s about family, love, homes, knives, kids and cats – spliced with a bit of geopolitics and singing. As with her last show Boundaries (now on YouTube), Sashi’s signature observations remain dedicated to taking absolutely nothing too seriously.

After working with refugee organisations as a refugee lawyer around the globe, she moved to Melbourne to do her master’s and fell backwards into comedy. She’s now one of Australia’s fastest rising comedians, known for her sharp wit, unique international tales and bizarre insights

In 2023, she was nominated for Best Newcomer at Melbourne International Comedy Festival with her debut solo performance. Since then, she’s sold out shows in six countries, opened for Hannah Gadsby and made a slew of television appearances including Channel 10’s Have You Been Paying Attention? and ABC’s Guy Montgomery’s Guy-Mont Spelling Bee.

Her memoir Standstill was published by Penguin Random House in August 2025. She was also named “One to Watch” at the UK Funny Women Awards and released her debut memoir, Standstill, with Penguin Books Australia in 2025.

A year after opening its doors, City of Dreams Sri Lanka has become more than the country’s newest integrated resort. It has emerged as one of the forces quietly reshaping Colombo’s identity, introducing a new rhythm to the city where international entertainment, cultural expression, and luxury experiences now unfold with remarkable regularity.

That ambition was evident from the outset. The grand opening, headlined by Bollywood icon Hrithik Roshan, was more than a landmark occasion – it signalled the arrival of a destination designed to bring internationally recognised entertainment to Sri Lanka. Over the past year, that vision has translated into a carefully curated calendar of experiences that has attracted acclaimed performers, celebrated local creativity, and welcomed audiences from across the region, positioning City of Dreams Sri Lanka as a driving force behind Colombo’s growing cultural profile.

Bollywood actor Arjun Rampal and Miss Universe India 2023 Shweta Sharda set the tone with Signature Glam at City of Dreams Sri Lanka, followed by the return of Suniel Shetty and Nia Sharma for Signature Diwali Glitz, also hosted at the integrated resort. Timed around key cultural moments and festive seasons, these events reflect a long-term programing strategy rather than standalone spectacles. With India continuing to be Sri Lanka’s largest visitor market, this consistent line-up is gradually positioning Colombo and City of Dreams Sri Lanka in particular as an emerging destination on the regional entertainment circuit alongside cities such as Mumbai and Dubai.

The same vision extends to music and nightlife. At City of Dreams Sri Lanka, the Viral Festival brought international electronic artists including Joe Lobel, SiangYoo, DCR Milda, and Papazxk to Colombo, while Dreams and Beats welcomed internationally acclaimed DJ Katch, further strengthening the property’s appeal among regional music audiences.

Over the past year, City of Dreams Sri Lanka has expanded its programing into a diverse calendar spanning music, culture, and lifestyle. The integrated resort is home to Serendisco, Sri Lanka’s flagship annual house music festival, which brings together international headline DJs and leading local electronic artists with the ambition of placing the island on the global festival map. It has also introduced Afro Safari, an elevated nightlife experience centred on Afro House, progressive electronic music, and immersive visual production, while Urban Sunset featuring DJ Hamma transforms the resort into a vibrant sunset venue overlooking the Indian Ocean, reimagining Colombo’s skyline as the backdrop for curated music experiences.

Among its defining moments was La Bamba!, the West End-licenced musical presented at City of Dreams Sri Lanka in partnership with the John Keells Foundation. Directed by acclaimed West End producer Paul Morrissey, the production united international performers with Sri Lankan talent selected through open auditions. Across seven performances at The Forum, it demonstrated that productions of international calibre could thrive in Colombo while creating meaningful opportunities for local artists to perform on the same stage.

International comedy also found a new stage at City of Dreams Sri Lanka when Russell Peters brought his sold-out Relax World Tour to the integrated resort, placing Colombo alongside major international destinations on the comedian’s global itinerary. The property’s entertainment calendar has also featured signature experiences such as the White Party, Cinco de Mayo celebrations, and performances by the Tamil Jazz Collective, demonstrating the breadth of its programing by moving effortlessly between large-scale nightlife experiences and intimate live performances that celebrate regional artistic identity.

Yet City of Dreams Sri Lanka’s cultural influence has been defined as much by its local connections as its international reach. The integrated resort has become the setting for annual celebrations of Avurudu, Chinese New Year, and Holi Rush, all of which have grown into anticipated fixtures on Colombo’s social calendar, bringing together communities through contemporary interpretations of longstanding traditions. Its continued partnership with Colombo Fashion Week has further reinforced its role as a destination where fashion, design, and creative expression converge, reflecting the city’s evolving cultural identity.

Viewed individually, each event tells its own story. Together, they reveal something larger. Over the past year, City of Dreams Sri Lanka has curated a year-round entertainment calendar that extends beyond hosting headline acts, establishing itself as a destination where international entertainment, cultural celebrations, and creative experiences come together under one roof.

One year on, the transformation is no longer defined solely by the opening of a landmark integrated resort. It is reflected in the growing expectation that City of Dreams Sri Lanka is where internationally acclaimed performers, regional audiences, and Sri Lankan talent come together, while reinforcing Colombo’s emergence as one of South Asia’s leading destinations for entertainment, culture, and world-class events.

Commercial Bank of Ceylon PLC has bagged six awards – the highest number won by a Sri Lankan bank – at the 2026 Asian Banking and Finance (ABF) Awards in Singapore across three key segments.

Presented at the Marina Bay Sands Expo and Convention Centre, the six-award haul spanned retail banking, wholesale banking, and corporate and investment banking, reflecting the bank’s strength across customer segments, technology-led innovation, sustainability, and complex financial solutions.

In the retail banking category, Commercial Bank was named ‘Private Bank of the Year’ and ‘SME Bank of the Year,’ recognising both its sector-leading financial performance and its sustained leadership in supporting Sri Lanka’s SME sector. The bank achieved a significant milestone in 2025, becoming the first private sector bank in the country to grow its loan book beyond Rs. 2 trillion, recording growth of Rs. 541 billion over 12 months while doubling its annual asset growth over the preceding year and leading peers across multiple key performance indicators. Its SME banking credentials are equally compelling, having been ranked the largest lender to the sector in Sri Lanka for five consecutive years by the Ministry of Finance.

The bank’s commitment to innovation and sustainability was recognised in the wholesale banking segment, where it received the titles of ‘Sri Lanka Domestic AI Initiative of the Year’ and ‘Green Financing Bank of the Year.’ The AI award acknowledges the bank’s pioneering AI-powered SME Credit Underwriting Solution, which has transformed credit evaluation processes, while the green financing accolade reflects its leadership in advancing sustainable lending and environmentally responsible banking practices.

In corporate an investment banking, Commercial Bank won the awards for ‘Corporate Client Initiative of the Year’ and ‘Debt Deal of the Year,’ highlighting its advisory-led approach and execution capabilities. The Corporate Client Initiative award was presented for the impact of the Bank’s TradeLink platform, which has redefined trade finance for businesses, while the Debt Deal recognition was awarded for the Bank’s landmark Rs. 15 billion Green Bond issued in 2025 to fund sustainability-linked projects.

Managing Director/CEO Sanath Manatunge said: “These awards are a powerful affirmation of the strength and balance of our strategy, one that is anchored in financial performance, deep customer relationships, technology-driven innovation and an unwavering commitment to sustainable growth.”

“What makes this recognition especially meaningful is its breadth, spanning private banking, SME banking, AI-led transformation, green finance and sophisticated corporate transactions. It reflects the collective effort of our teams and the trust placed in us by our customers, and reinforces our role as a bank that not only leads in performance, but also in shaping the future of banking in Sri Lanka and beyond.”

The Asian Banking and Finance Awards are among the region’s most respected platforms recognising excellence, innovation, and leadership in financial services. Commercial Bank’s performance this year is particularly significant, signalling a well-rounded and resilient franchise that demonstrates excellence in multiple domains.

Kandy Royals led by former Sri Lanka captain Angelo Mathews despite breaking their jinx of not winning a match in the first round at the SSC, continued to labour at the bottom of the Lanka Premier League (LPL) standings when they suffered their third defeat in the tournament going down by 23 runs to Colombo Kaps in the first of two matches played at the Rangiri Dambulla Cricket Stadium yesterday.

Kandy Royals’ run chase was hampered by a calf strain to Mathews who came to bat at the fall of the seventh wicket due to the injury, with his side needing 98 off the last seven overs. He tried his best to get his team over the line scoring 39* off 24 balls (5 fours, 1 six) but Shahnawaz Dahani and James Neesham who bowled the final two overs ensured Colombo Kaps won quite comfortably.

Mathews is the second captain in the ongoing LPL to suffer an injury. Colombo Kaps skipper Kusal Mendis has already been ruled out of the tournament with a damaged hamstring.

Dale Phillips (38 off 27 balls) and Vijay Shankar (30 off 23) scored 30s apiece for Colombo Kaps but the rest of the batting faltered against some excellent bowling from off-spinner Mujeeb Ur Rahman who ended up taking 3/34 and Wanuja Sahan who was economical in his four overs (1/24).

Colombo Kaps’ bowlers were not under too much pressure because their batters gave them the freedom to attack with the ball more aggressively and execute their plans.

Rubin Hermann was at the top of his form playing plenty of eye-catching strokes in his innings of 53 off 36 balls (7 fours, 1 six) and Player of the Match Janith Liyanage hit a crucial half-century (52* off 33 balls, 3 fours, 2 sixes) to help Colombo Kaps post a respectable total of 192-9. James Neesham (24 off 10) and Binura Fernando (21 off 13) also made handy contributions.

Shahin Afridi picked up the key wickets of Kamindu Mendis and Wanuja Sahan with a disciplined bowling performance while Wanindu Hasaranga and Nuwan Thushara were most economical. – [ST]

Scores:

Colombo Kaps 192-9 (20) (Rubin Hermann 53, Janith Liyanage 52*, James Neesham 24, Binura Fernando 21, Shaheen Afridi 2/34, Moeen Ali 2/31, Dushan Hemantha 2/20) vs. Kandy Royals 169-8 (20) (Dale Phillips 38, Vijay Shankar 30, Angelo Mathews 39*, Mujeeb Ur Rahman 3/34)

Former President Gotabaya Rajapaksa appeared before the Court of Appeal yesterday as the court resumed hearing his writ petition seeking an order preventing his arrest and detention.

The petition came up for further consideration before a two-judge bench comprising Court of Appeal President Justice Rohantha Abeysooriya and Justice Sarath Dissanayake.

Rajapaksa was present in court to observe the proceedings.

The matter was last heard on 9 July, when the bench concluded a fourth consecutive day of hearings before adjourning the case until yesterday for further consideration.

Through the petition, Rajapaksa is seeking a writ preventing his arrest and detention.

The Court of Appeal is continuing to hear submissions in the matter.