Future-ready boards take centre stage at Sri Lanka Corporate Director Summit 2026

The Sri Lanka Institute of Directors (SLID) will host the Sri Lanka Corporate Director Summit 2026 on 22 July at the Cinnamon Grand Colombo, bringing together over 350 board directors, chairpersons, CEOs, regulators, investors, and senior business leaders to discuss the future of corporate governance and board leadership.

Held under the theme ‘Future-Ready Sri Lankan Directors – From Compliance to Sustainable Growth,’ the Summit will explore how boards can move beyond traditional governance to drive innovation, resilience, digital transformation, and long-term value creation.

The event will feature an outstanding line-up of local and international thought leaders, including Minor International Group CEO and Minor Hotels, Thailand CEO Dillip Rajakarier, Safesea Group Founder and Chairman and Maldives (joining virtually) former President Mohamed Nasheed, Safesea Group, USA Founder and Chairman Dr. S.V. Anchan, and LYNEAR Wealth Management Managing Director and Co-Founder Dr. Naveen Gunawardena.

Adding further international perspective, Ambassador of the Republic of Trkiye to Sri Lanka Semih Ltf Turgut will participate in an exclusive Director’s Dialogue moderated by Janashakthi Group Managing Director/Group CEO Ramesh Schaffter.

As SLID celebrates its 25th Anniversary, the Summit reaffirms its commitment to strengthening corporate governance and equipping directors with the knowledge and insights needed to build resilient, future-ready organisations. The event will also provide exceptional networking opportunities through a curated executive breakfast, networking lunch, and evening cocktail reception, bringing together Sri Lanka’s leading decision-makers and global experts.

Registration is now open. SLID Members: Rs. 30,000/Non-Members: Rs. 35,000.

Corporate group discounts are available. For registrations, contact [email protected] or 076 545 4279.

2027 Budget to strengthen public healthcare to reduce private treatment costs: President

President Anura Kumara Dissanayake yesterday said the 2027 Budget will prioritise strengthening Sri Lanka’s public healthcare system with the twin objectives of improving service quality and reducing the cost burden on patients who seek treatment from the private sector.

Chairing the pre-Budget discussion on the Ministry of Health and Mass Media at the Presidential Secretariat, the President said the Government was prepared to allocate the necessary funding to elevate Sri Lanka’s healthcare services to internationally recognised standards.

A key focus of the 2027 Budget will be strengthening primary healthcare through the proposed ‘Arogya Suwa Seva Centres’, with the President directing officials to place greater emphasis on expanding frontline health services across the country.

He also called for an accelerated technological transformation of the State hospital system, noting that establishing advanced medical facilities accessible nationwide would significantly improve the quality of healthcare while enabling public hospitals to provide more efficient and standardised services. The President said this would help reduce the high costs borne by the public when seeking treatment from private healthcare providers.

The President instructed officials to submit scientifically based strategic proposals without delay to improve the quality of Sri Lanka’s healthcare system.

The discussion also focused on strengthening the Suwa Seriya ambulance service, with the President directing that hospitals procure internationally compliant, fully equipped high-technology ambulances instead of conventional vans.

Officials said the Government has recommenced 26 large-scale healthcare construction projects that had been suspended after previous administrations curtailed capital expenditure. These include the five-storey building complex at Monaragala District Hospital and Emergency Treatment Units at the Trincomalee, Ampara and Chilaw hospitals. In total, work is now under way on 48 healthcare construction projects.

The meeting also reviewed technology-driven reforms to pharmaceutical procurement to ensure uninterrupted medicine supplies, the expansion of medicine quality testing facilities, and progress on digital health initiatives including the Patient Health App, telemedicine services and a National Electronic Health Record system.

In addition, officials discussed a comprehensive review of the healthcare workforce, issues affecting newly appointed doctors, and future recruitment requirements in consultation with the Ministry of Finance. The pre-Budget discussion also reviewed budget priorities relating to the Mass Media sector, including journalist training, the Government Film Unit, school media societies, a proposed Government media operations centre, and the modernisation of the Department of Posts and the Government Printing Department.

Entrepreneur decoding body’s hidden language

Having honed his skills in engineering high-performance systems for Formula One and advancing cutting-edge artificial intelligence and neuroscience research, Emil Hewage has built a career at the forefront of deep technology. The Sri Lankan-born entrepreneur and computational neuroscientist has worked with leading global organisations across engineering, consulting and healthcare innovation before founding BIOS in the UK, a company pioneering AI-driven neural interfaces to transform the treatment of chronic disease.

Recognised as a Forbes 30 Under 30 honouree and named among MIT Technology Review’s Innovators Under 35, Emil Hewage has earned international recognition for his contributions to deep-tech innovation. Drawing on experience spanning organisations such as McLaren, Siemens and McKinsey, he sat down with the Daily FT to discuss the future of bioelectronic medicine, the growing role of AI in healthcare, his involvement in health-focused urban innovation for smart cities, and why decoding the body’s neural signals could become the next major frontier in precision medicine.

Q: Your journey into health technology is deeply personal. How did your Sri Lankan roots and your family shape your decision to pursue neuroscience and precision healthcare?

A: Although I was born and raised in the UK, Sri Lanka has always been a big part of my identity. Both my parents trained at the University of Peradeniya medical school before moving to the UK to work in the NHS, where my mother still serves in a senior role. They instilled in me the value of education and service from an early age.

The biggest influence, however, was my maternal grandfather. A self-made entrepreneur from southern Sri Lanka, who had gone from serving tea, to building his own logistics firm, was diagnosed with diabetes and later came to live with us in the UK. During his final months, he shared the story of how he had built his business from nothing, and I realised that the entrepreneurial spirit I admired in the technology world, that I was experiencing with the people I was working with in London, had always existed in my own family.

Watching him become critically ill was a turning point. Despite having brilliant doctors around him, including my mother, they simply didn’t have the information they needed to treat him effectively. That left a lasting impression on me. That inspired me to develop a blood-sensing technology to help clinicians make better decisions, and, at just 16, I entered the medical technology field by joining a medical device company. That experience ultimately set me on the path to medical devices, neuroscience and, eventually, BIOS.

Q: For readers who are unfamiliar with your field, how would you explain your work in the simplest possible terms?

A: For the past 15 years, my business has been creating AI products that can be used in complex global industries, like healthcare, energy, and transport. Most of the AI products people see today are platforms, such as ChatGPT, that create images or interesting content. My specialism has been AI that can do very high-value, high-risk decision-making. I was more motivated by where the brain, the intelligence of an F1 car system can be used today to help with very basic, but very broad problems.

Q: Can you give an example of your specialised area of high-value, high-risk decision-making AI?

A: My first experience with AI and machine learning was in automotive around 2010-2011, working with McLaren Formula One. Originally, we were using AI to make Formula One cars more competitive, helping experienced drivers achieve even greater performance from these incredibly sophisticated racing cars by providing them with enhanced control through intelligent systems.

That work led me to collaborate with researchers at the University of Cambridge, Stanford University and Land Rover on applying AI to make decisions to control something as complex as a car. I was part of the team that developed one of the UK’s first self-driving car technologies in 2013, one of the first commercial initiatives of AI, just before Google launched its early efforts.

This experience also made me pause and ask a bigger question: ‘What is the real problem that is worth solving with this technology?’ While the US were investing billions in a future of fully autonomous vehicles, I was more motivated by where the brain, the intelligence of this type of car system, can be used today to help with very basic, yet very broad problems.

Q: What business problems are you ultimately trying to solve through such complex AI technology?

A: After the 2012 London Olympics, the city had completely reworked its transport systems to cope with the event. But just a couple of years later, people managing the infrastructure told me they were facing “Olympics-sized” disruptions almost every month – whether it was a major concert, severe weather or another large-scale event. They simply didn’t have enough time or data to make the right decisions.

That led us to develop an AI-powered intelligence layer for infrastructure, enabling cities to respond in real-time. Rather than being controlled by big tech, it’s owned and used by local authorities. Today, the technology is deployed in the UK, South Korea and California. On the UK’s M25 motorway, for example, it helps predict exactly when maintenance is needed, reducing unnecessary road closures, saving millions each year, and improving emergency response. Our first commercial success was applying AI to make cities and national infrastructure safer, more efficient and more resilient.

Q: You’ve been involved in Smart City and digital health projects in South Korea, California, and extensively in the UK and Europe. What lessons from those projects could be relevant for Sri Lanka, and where do you see the biggest opportunities here?

A: The areas I work in, which are new industries, need AI infrastructure. The biggest lesson from working in emerging industries is to focus on areas where you can leapfrog rather than trying to catch up. Instead of competing in established sectors, countries like Sri Lanka have an opportunity to build new capabilities from the ground up. One example is brain health. Like many countries, Sri Lanka has a rapidly ageing population, yet globally there are only a handful of centres specialising in areas such as Alzheimer’s, neurotechnology such as BOS, and precision brain care. As new treatments and technologies, including brain implants, become more widely available over the next two decades, demand for this expertise will grow significantly.

The healthcare needs of an ageing population in Colombo are not very different from those in London. That presents Sri Lanka with an opportunity to invest early in these emerging fields and establish itself as a leader, rather than trying to compete in more mature industries.

Q: How would precision healthcare level the playing field to make Colombo not very different from London in such a scenario?

A: Brain medicine is incredibly complex for three reasons. Your body is complex, that’s never going to change. Each case is different. As the population ages more, so does the problem of brain health. So that is the real problem we need to solve.

The second challenge is that there simply aren’t enough specialist doctors anywhere in the world. Whether you’re in London or a remote town, expertise in areas like brain health is scarce. Today, most leading centres exist because they’re attached to major academic institutions, but that’s not how the next generation of care will be delivered. We’ll need new technologies, including AI, to expand the capacity of medical teams.

The third challenge is data. The brain is vastly more complex than the human genome and is constantly changing, making it one of the richest sources of information for truly personalised medicine. But that also means the data is incredibly sensitive. The value of data in creating the personal medicine for you is extremely high. It must be shared voluntarily, protected ethically and used responsibly.

For Sri Lanka, this presents a unique opportunity. Building advanced AI-driven brain health capabilities requires investment, but not on the scale of entirely new industries. With a strong medical workforce, a concentrated population and less competition for specialist capacity than larger markets, Sri Lanka has the potential to build a world-class ecosystem in this emerging field. The value of data in creating the personal medicine for you is extremely high.

Q: On the subject of smart cities… If Sri Lanka were building a new city or township today, what are the 03 things you would do differently – 03 things – to ensure that citizens live longer, healthier lives rather than simply creating a more technologically advanced city?

A: Firstly you need to think about how you improve mobility, specific precision of healthcare, and then the inputs to the supply chain for that city, such as resilient energy, and fertiliser. All of these are small, yet high value things that if you forget them, you can waste a lot of time and money. If you get it right, you create a self-fulfilling, economic result.

I have talked obviously about the medical version, where if you add just a very small, very high value precision medicine centre, you will bring a lot of activity to the area where the centre is. You’ll also create jobs for the cafes and the equivalent (economies that will arise from such an ecosystem).

If you think about mobility, you can provide the same kind of AI that is used for a self-driving car, and give it to the people who are managing the traffic, in all the junctions. So you bring new skills that make it easier for you to get to work, and people might be able to start new small businesses, for example, to have small electric scooter points because they can get the data to be more competitive. Or if you run a delivery business and you have us data, you might know a better way to serve your neighborhood. The only way to do that is to make that mobility technology cheap, and people can access it for their own personal or business needs.

Q: Many people worry that AI is making healthcare less human. That’s like the layman’s debate. Do you see technology replacing human judgment or are they freeing healthcare professionals to focus more on the human side of care?

A: That’s a good question. I think AI is making the average level of healthcare hopefully more accessible and high quality. It will allow the people delivering that healthcare to have more capacity to interact with you as a person. So, in general wards, access to healthcare globally should improve, but obviously with new training, to trust the system, and still interact with the person.

Q: Do you have any formal training in medicine? Or is it something you picked up along the way?

A: I am definitely an engineer first. An engineer and a businessman with an academic background. But my PhD was in neuroscience and AI. I am trained in computational neuroscience, which is the function of the brain, the computing of the brain. Obviously, as part of that, you can learn a lot of the physiology, and then I have worked in a number of medical device companies, including Siemens Healthcare. But my job has always been in partnership with, then, a trained doctor or surgeon, so naturally, you pick it up.

For me, it’s exactly like, when I was in Mclarens in the team supporting Lewis Hamilton, where my job was to help find ways that he drives faster. I was working on algorithms that would process race data from the track, and give feedback in 10 minutes on how to improve your car. Now, when I work with a very famous surgeon in California, he is still the one driving the car. He’s the one who has to perform an open hour surgery. My job is to make sure that my algorithm is giving him more control, more capability.

Q: What is the margin of error in precision healthcare?

A: These days, we are about 2,000 times more accurate than any human. For some of these surgical procedures, without our technology, it takes about six separate attempts to achieve the precision, and that takes about 6 months to one year. with our technology.

Q: Organisations such as BIOS are working in areas that have traditionally been dominated by pharmaceutical companies. Do you see yourself as partners with big pharma, or as competitors or something in between?

A: I think right now, BIOS’ primary partner is the health system. If our technology makes an existing pharmaceutical company’s product more effective, they also become a partner to us. Some of the largest public, medical device and pharma companies, partner with us. But our primary partner is always going to be the patient and their health system, because our mission is ultimately whatever you need, that improves your health span. Our aim is to systematically make it easier for you to access that. It comes through the distribution, it comes through the hospitals, and then ultimately comes to you in your own home. Lifespan without health span is not meaningful.

Q: As AI becomes more integrated into healthcare, concerns around privacy and data ownership are growing. How can innovation be balanced with trust, and who should own our health data?

A: Trust has to be built at the local level. My view is that we shouldn’t rely solely on global technology companies to manage sensitive health data. Instead, governments, healthcare providers and local technology companies should work together to develop secure, affordable AI systems that serve their own communities. My priority is to make sure that we don’t just rely on the big tech scalers, because you lose more than you win in the long run.

That’s the approach we’ve taken with our smart city technology, where the AI technology is deployed directly by local authorities rather than owned by big tech. I believe the same model should apply to healthcare. For example, the banks in this country are big companies. Not everybody owns those banks, but everyone relies on those banks.

People need trusted local institutions that are accountable for how their data is used, with strong oversight from both the public and private sectors. The technology companies must earn that trust, but ultimately, the data should be used to benefit the communities it comes from.

Port City seeking global operators for university, hospital and school

The Colombo Port City Economic Commission will shortly invite proposals for an international university, hospital, and school, as it shifts its focus from developing real estate to building the institutional foundations needed to attract multinational companies and skilled professionals.

Commission Chairman Harsha Amarasekera, PC said the three projects were integral to the next stage of Port City’s development, arguing that globally recognised education and healthcare institutions had become prerequisites for companies considering long-term regional operations.

‘There will be a Request for Proposal (RFP) for a university, one for a hospital, and one for a school,’ Amarasekera said at a recent forum organised by the Public Relations Forum of Sri Lanka in association with The Sri Lanka Institute of Directors, AMCHAM and Port City Colombo.

‘The criteria will be based on the international recognition of the university, the hospital, and the international school. All three are considered fundamental to the success of the whole City.’

He said the facilities would also serve the wider Colombo metropolitan area by strengthening domestic education and healthcare while reducing the outflow of foreign exchange on overseas schooling and medical treatment.

Amarasekera said Port City was conceived as a Special Economic Zone (SEZ) centred on internationally traded services rather than manufacturing, with businesses operating within the City serving overseas markets instead of the domestic economy.

‘It is a dollarised economy,’ he said, noting that the Commission currently permits transactions in 14 foreign currencies, with additional currencies expected to be approved over time.

That framework, he said, forms part of a broader strategy to position Port City as a base for global capability centres, innovation hubs, compliance operations, and business continuity facilities serving companies with regional operations.

Rather than relocating entire headquarters, companies could establish satellite operations in Colombo capable of supporting business continuity during geopolitical or operational disruptions elsewhere, he said. Under the Commission’s regulatory framework, transferred personnel could obtain visas within four days, allowing firms to move operations with minimal interruption.

Amarasekera acknowledged, however, that Sri Lanka’s shortage of skilled technology professionals remained a significant constraint on attracting large-scale investment.

He said discussions with prospective investors showed that while companies were prepared to establish operations in Colombo, expansion frequently stalled once initial recruitment needs had been met because sufficient local talent was unavailable.

‘If they can’t find the talent at the correct price point, they can attract the talent from India until such time our universities and technical colleges produce those numbers,’ he said.

Amarasekera argued that allowing companies to recruit foreign professionals should be viewed as a transitional measure that would support knowledge transfer while generating economic activity, as expatriate employees earning in foreign currency would spend on housing, services, and other local consumption.

He also outlined the Commission’s governance framework, saying all businesses seeking to operate within Port City require Commission approval, while applications for incentives are evaluated against transparent criteria before recommendations are submitted to Cabinet for approval.

Separately, Amarasekera rejected suggestions that the project had transferred ownership of reclaimed land to China, reiterating that the land is owned by the Government of Sri Lanka and vested in the Port City Economic Commission, with certain parcels leased to the project developer to recover reclamation costs.

He said five developments are currently under construction within Port City, with a further five expected to be awarded by the end of the year and two smaller projects targeted for completion before December as the Commission seeks to accelerate the transition from infrastructure development to commercial operations.

Climate-agriculture support boosts rice harvests by 226 kg per acre

In the paddy fields around Nagollagama, in Sri Lanka’s Kurunegala District, the monsoon no longer behaves the way it used to. Rains that once arrived on a familiar calendar now come early, late, or not at all. For a farmer deciding when to sow, irrigate, hold back water, and fertilise, that uncertainty is not an abstraction. It is the difference between a good year and a hopeless one.

These are genuinely hard decisions and until recently farmers were making them largely in the dark.

On 1 June, first, the International Water Management Institute (IWMI), in partnership with Sri Lanka’s Department of Agrarian Development (DAD), inaugurated an Agro-Climate Advisory Lab at the Nagollagama Agrarian Service Centre. A modest building, now home to an outsized idea – that a seasonal weather forecast, properly translated and delivered, can become a farmer’s most valuable input.

A five-year journey, not overnight fix

The lab did not appear from nowhere. It is the visible result of a patient, five-year engagement.

In 2021, the first pilot reached 250 farmers, bundling climate-resilient seed, agro-climatic advisories and crop insurance. When these farmers met with climate-induced losses, insurance payouts cushioned the blow. By the Yala harvesting season in 2025, the model had sharpened to include climate-resilient paddy seeds from private sector partner CIC holdings, 6,000 agro-climate advisories to 100 farmers, and a yield-improvement program. Then came the leap. In the 2026 Maha season, the same service center disseminated more than 125,000 advisories to nearly 10,000 farmers – a hundredfold increase in reach in a single year. The program also supported Nagollagama by rehabilitating an irrigation canal.

What makes this remarkable is not the technology alone. It is that climate-agriculture advice reaches the farmer in their own language, tailored to local conditions, and explained in ways that are directly relevant to their farming activities, and timely enough to shape how they plan their work.

From satellite to SMS

The journey of a single advisory follows five simple steps. IWMI’s AWARE platform gathers a seven-day weather forecast. Field officers observe the real condition and growth stage of the crop. Raw data is then translated into plain-language guidance any farmer can understand. Weather, crop status and agronomic recommendations are combined into a tailored advisory – validated by DAD and Agrarian Service Centre officers and shaped in consultation with the Aruna Farmer Organisation ¬- one Sri Lanka’s largest community led farmers’ organisations. Finally, the advisory reaches each farmer’s phone, twice a week.

Forecast, translate, observe, integrate, and deliver. No step is glamorous. Together, they close the gap between a meteorological model and a muddy field.

Proof is in the harvest

Sceptics rightly ask whether agro-climatic advisories change anything. In Nagollagama, the evidence is notably straightforward. IWMI compared 100 supported farmers with 100 non-beneficiary farmers in the same area, on the same land, under the same skies.

The farmers who were supported by the Agro-Climate Advisory Lab harvested 226 kilograms more rice per acre, worth roughly Rs. 27,100 ($ 82) in additional income per acre.

An intensive cohort of just ten farmers, given more targeted support through the CIC holdings climate resilient paddy partnership, did even better: 390 kilograms more per acre, and about Rs. 46,800 ($ 141) in extra income, against only Rs. 6,000 ($ 18) in added input costs. That is a strong return on a small investment.

‘We planned how to spray fertiliser and prepare the soil based on the climate advisory’ said Sardha Dayanshani, secretary to the Aruna Farming Organisation, explaining how they operationalised the advisory service received through SMS.

The partnerships underpinning this impact is equally important. A catalytic contribution from IWMI, backed by the CGIAR Climate Action program and Japan’s Ministry of Agriculture, Forestry and Fisheries unlocked the potential of these farmers in Nagollagama. Mobilising the reach of the Department of Agrarian Development, the expertise and seed resources of CIC holdings, and the trust of the Aruna Farmer Organisation, they were able to meaningfully improve harvests for thousands of farmers.

For C. Dayawathi, an agriculture research and production assistant at DAD, the ambition is simply to grow. ‘We moved away from traditional systems and achieved better standards – and we got a good harvest,’ said Dayawathi. ‘My hope is for the next seasons to bring a bigger group of farmers into this effort.’

Clearest signal of success: Increased demand

The most telling indicator is one no project can manufacture – unsolicited demand. Two neighboring service centres, in the villages of Mahawa and Polpithigama, have formally asked for the same advisory service. Word travels fast between farming communities when something works.

This is why 2026 was the year the Nagollagama approach moved from pilot to institution. The Agro-Climate Advisory Lab anchors the local generation of advisories so the model can be handed to DAD and replicated across districts, rather than depending on any single project.

Interest already extends beyond Sri Lanka. IWMI is positioning Nagollagama as a model site for South-South learning, with engagement underway involving partners in Zambia and Pakistan, and a CGIAR science delegation expected to visit later in 2026.

How governments and donors can invest

For a finance ministry or a development partner weighing where to put scarce climate funds, Nagollagama offers a practical template.

Governments can embed advisory generation inside existing agrarian extension structures – as Sri Lanka has done through Sri Lanka’s Department of Agrarian Development – so the service outlives the project and reaches the last mile user through institutions farmers already trust. Donors can fund the bundle, not just the gadget: climate-resilient seed, twice-weekly localised advisories, light-touch insurance and the modest digital backbone that ties them together. Both should resource the unglamorous middle layer – the people and platforms that translate forecasts into farm-ready instructions – because that is where most early-warning systems quietly fail.

The impact on farmer income makes the case. A modest catalytic investment, placed inside trusted institutions, generated measurable income gains for nearly 10,000 households – a return that compounds with every season and every new service center that adopts the model. The lesson is not that climate adaptation is cheap; it is that well-targeted public and donor finance, channeled through structures farmers already rely on, can deliver outsized and lasting returns.

Change-making capability for the region

The world has rightly rallied behind Early Warning for All – the goal of protecting everyone on Earth with early warning systems. Yet a warning is only protective if it can trigger timely and practical action. Nagollagama shows that early warning is only meaningful when it reaches a farmer through accessible technology, in a language they understand, at the moment in their farming cycle when decisions need to be made.

That is the quiet revolution here. Not a new satellite, but a new pathway – from forecast to field, from data to dignity, from uncertainty to a harvest a family can count on. If this model spreads across South Asia and Africa as the demand suggests it will, the region will have built something rare: a climate capability that does not merely warn people of the storm, but helps them plant through it.

Asia-Pacific tourists outspend Europeans despite shorter stays: SLTPB Chief

Sri Lanka is witnessing a notable shift in tourist spending patterns, with visitors from the Asia-Pacific region, particularly India, spending more per day than many traditional long-haul markets despite shorter lengths of stay, Sri Lanka Tourism Promotion Bureau (SLTPB) Chairman Buddhika Hewawasam said yesterday.

Highlighting changing traveller behaviour, Hewawasam said the average daily expenditure of Indian tourists has increased to around $ 154, exceeding Sri Lanka’s overall average daily spend of $ 148.

‘Sometimes Indian travellers spend more than European tourists,’ he said, noting that visitors travelling specifically for wildlife and marine tourism spend between $ 160 and $ 170 per day, stressing the growing demand for high-value niche tourism experiences.

India remains Sri Lanka’s largest tourism source market by a considerable margin. Year-to-date (YTD), 301,875 Indian tourists have visited the country, accounting for 26% of total arrivals recorded so far in 2026. During the first six days of July alone, 8,192 Indian visitors arrived in Sri Lanka, representing 24% of total arrivals during the period.

Hewawasam said Sri Lanka Tourism has intensified promotional activities across India, covering several major cities, new destinations like Gujarat and Ahmedabad, and market segments as part of its strategy to strengthen its position in the country’s largest outbound travel market.

‘We are positioning Sri Lanka not only as a leisure destination but also as a destination offering diverse experiences,’ he said.

The SLTPB Chairman also pointed to significant differences in spending patterns across source markets. According to data, he said travellers from Malaysia also spend more, though the United Arab Emirates (UAE) records the highest average daily expenditure at around $ 195, while visitors from Egypt and Trkiye spend over $ 180 per day, although they generally remain in the country for around six to seven days. In comparison, tourists from Belgium, Austria, and the Czech Republic spend below $ 145 per day.

However, he said European visitors typically stay between 11 and 14 days, whilst noting that the Asia-Pacific region generates higher overall tourism revenue because of stronger daily spending levels despite relatively shorter visits.

He attributed the changing spending patterns to growing demand for premium and experience-based tourism products.

‘Visitors are increasingly seeking unique and premium experiences, including wellness tourism, cultural experiences, nature-based activities, adventure tourism, and authentic local experiences rather than conventional sightseeing alone,’ he said.

Hewawasam stressed that Sri Lanka Tourism’s strategy is focused on increasing both visitor spending and the average length of stay by diversifying and upgrading the country’s tourism offerings.

‘Our objective is to increase both tourist spending and the average length of stay by continuously enhancing Sri Lanka’s tourism product portfolio,’ he added.

Goodies at Cinnamon Lakeside transforms with all-female team

In a significant step towards promoting greater female representation in hospitality, Cinnamon Lakeside Colombo has transformed Goodies, its popular coffee shop, into a fully female operated outlet which is the first all-female outlet in Cinnamon Hotels and Resorts.

The initiative was personally championed by General Manager Dushyantha Tittawella, whose vision was to create greater opportunities for women within hotel operations while showcasing their capabilities in customer facing and leadership roles.

Today, Goodies is managed and operated entirely by women, from guest service and cashiering to supervisory and operational responsibilities, highlighting the talent, professionalism, and leadership potential of women in hospitality which aligns with Cinnamon Lakeside Colombo’s broader commitment to diversity, equity, and inclusion.

Commenting on the initiative, Tittawella said: ‘This was not a project that happened overnight. It required determination, planning, and the collective effort of many individuals who believed in the vision. I am incredibly proud of the team at Goodies and hope this initiative encourages more women to pursue rewarding careers within the hospitality industry. At Cinnamon Lakeside Colombo, we believe that diversity strengthens our organisation and enriches the experiences we create for our guests. The transformation of Goodies into a fully female operated outlet is a meaningful step towards empowering women, recognising their capabilities, and encouraging greater participation in the hospitality industry. We hope this initiative inspires more women to pursue rewarding careers within our sector.’

At Goodies, guests can indulge in a tempting selection of freshly baked cakes, pastries, gourmet sandwiches, and expertly crafted coffees served throughout the day. A longstanding favourite among regular patrons, the signature Chocolate Chip Cake remains a must try, known for its rich flavour and moist texture. Whether stopping by for a morning coffee, a quick business lunch, or an afternoon treat, guests can enjoy a variety of sweet and savoury delights, including freshly prepared sandwiches, decadent desserts, specialty teas, and premium coffee blends, all served with the warm hospitality that has made Goodies one of Colombo’s most loved café destinations.

Reply to the CPC’s Right of Reply: A response that responds to nothing

We thank the Ceylon Petroleum Corporation (CPC) for its response (Daily FT, 7 July 26 https://www.ft.lk/opinion/Right-of-Reply-CPC-responds-to-Verit%C3%A9-Research-opinion-column-on-pricing/14-794310) to our Op-ed ‘The price is wrong, twice: Sri Lanka’s fuel is both overpriced and underpriced’ (Daily FT, 15 July 2026 See https://www.ft.lk/ft_view__editorial/The-price-is-wrong-twice-Sri-Lanka-s-fuel-is-both-overpriced-and-underpriced/58-793292). Three brief observations are warranted.

First, the only informational point the response presents as contradicting our Op-ed is that Government fuel subsidies and pricing decisions apply across all licenced fuel marketing companies, and not to CPC alone. But our Op-ed took exactly that point as given. The comparison with other market players rests on the premise that they operate under the same subsidies and the same prices as CPC. Any reading of the article that suggests otherwise would be a misreading. What warrants correcting, then, is the misreading – not our Op-ed as written.

For how the Government subsidy is cleverly designed to be fiscally neutral, see the article ‘Fuel Price Shock Does Not Have to be Passed on Fully to Consumers: Why and How?’ published in PublicFinance.LK. It is precisely because the central Government is providing this subsidy – effectively a refund of the excess tax collected due to price increases – that CPC has no grounds to claim the losses it claims from the sale of fuel.

Second, the response claims that our Op-ed contains statements that are ‘factually incorrect’ and ‘unsupported by evidence’. That claim falls on its own sword: the response offers no data or evidence whatsoever to substantiate it. The analysis in our Op-ed, by contrast, was built on CPC’s own published purchase prices, the Government’s published subsidy, and global market prices. We would have been glad to receive information – if any exists – that would change the analysis. Unfortunately, none has been provided.

Third, the response lectures the media that material should not be ‘published without proper verification of the relevant data’, and that ‘information published on matters of national economic importance be based on verified facts and reliable evidence’. The irony is that this advice, if it had been applied, would have prevented the publication not of our Op-ed – which is anchored in published data – but of the response to it by CPC, which contains none.

The question posed by our Op-ed therefore remains on the table, unanswered: why does the main State institution that supplies fuel in Sri Lanka pay more to purchase it than comparable suppliers, in Sri Lanka and in the rest of the world?

Seylan Cards serves up lifestyle and wellness through Pickleball Slam 2026

Seylan Cards successfully concluded its partnership as Title Partner of the Pickleball Slam 2026, organised by YES 101, bringing together corporate teams, sports enthusiasts, and aspiring athletes for a day of competition, wellness, and community engagement at The Pickle Island, Excel World.

As one of Sri Lanka’s most recent emerging sporting events, the Pickleball Slam 2026 showcased the rapid growth of pickleball, one of the world’s fastest-growing sports, while creating a vibrant platform for participants to connect through an active and engaging lifestyle experience.

The event attracted a diverse mix of corporate professionals and pickleball enthusiasts who competed across multiple categories, reinforcing the sport’s growing appeal among Sri Lanka’s active communities. Through its title partnership, Seylan Cards extends its services beyond traditional banking and payments to provided lifestyle-driven experiences for its customers.

Head of Cards Ruchith Liyanage said: ‘At Seylan Cards, we believe our role extends beyond enabling transactions. We are committed to enriching the lifestyles of our Cardholders through meaningful experiences that reflect their passions and aspirations. The Pickleball Slam 2026 provided an excellent opportunity to engage with a vibrant and active community while supporting a sport that is rapidly gaining popularity both globally and locally. We are delighted to have partnered with YES 101 to bring this unique experience to life.’

The partnership reflects Seylan Cards’ ongoing commitment to delivering value beyond financial services through exclusive experiences that foster wellness, social connection, and memorable moments. By supporting emerging lifestyle trends, Seylan Cards continues to emphasise progressive and customer-centric initiatives that understand the evolving interests of modern consumers.

As one of the first leading banking brands in Sri Lanka to support an exclusive pickleball tournament, Seylan Cards has further strengthened its presence within the lifestyle and fitness space while reinforcing its promise of being the essential card for everyday experiences and rewards.

Through initiatives such as the Pickleball Slam, Seylan Cards continues to create meaningful engagement opportunities for existing and potential Cardholders, offering access to experiences that complement and enhance their lifestyles.

CoPF backs tariff policy measures, phased Customs reforms

The Parliamentary Committee on Public Finance (CoPF) has approved a Resolution under the Customs Ordinance and two Orders under the Sri Lanka Export Development Act, paving the way for the implementation of the Government’s National Tariff Policy and a comprehensive overhaul of the country’s import tariff structure.

The approvals were granted at a meeting chaired by CoPF Chairman MP Dr. Harsha de Silva, which considered the Resolution published in Extraordinary Gazette No. 2478/03 under the Customs Ordinance and Orders published in Extraordinary Gazette Nos. 2478/04 and 2479/38 under the Sri Lanka Export Development Act.

The Gazette Notifications are scheduled to be debated in Parliament today before being submitted for approval.

Officials from the Finance Ministry, Sri Lanka Customs, and the Export Development Board (EDB) told the Committee that the measures give effect to the 2026 Budget proposal to introduce a National Tariff Policy by restructuring Customs import duty rates from the existing 0%, 15%, and 20% bands into a four-tier structure of 0%, 10%, 20%, and 30%, with effect from 1 April 2026.

Officials said the reforms extend beyond changes to import duty rates and represent the first phase of a long-term tariff policy aimed at creating a more scientific and predictable trade regime capable of integrating Sri Lanka more effectively into global supply chains.

Under the new framework, imports will be classified according to the UN Broad Economic Categories (BEC Revision 5), requiring the reclassification of numerous Harmonised System (HS) tariff codes into four principal categories: capital goods, intermediate goods, sensitive intermediate goods, and consumer goods.

The Committee was informed that the policy seeks to balance the protection of domestic industries with revenue stability while improving Sri Lanka’s competitiveness as a manufacturing and export destination.

Officials also revealed that the effective import tax on ceramic tiles, currently estimated at around 85% to 90%, will be reduced in stages to 20% by 2029 as part of measures to lower construction costs and encourage investment in housing and infrastructure.

The Government also plans to introduce new national tariff subcategories in response to requests from domestic industries, while gradually phasing out para-tariffs, including the CESS and the Ports and Airports Levy (PAL), by 2029 in favour of a simpler tariff regime.

The CoPF advised officials to develop measures to mitigate any adverse effects arising from tariff liberalisation.

According to officials, the reforms are expected to support the EDB’s target of doubling Sri Lanka’s export earnings from $ 18 billion to $ 36 billion over the next five years while strengthening the country’s integration into global value chains, particularly in electronics, rubber products, pharmaceuticals, and information technology.

The Committee also expressed concern over delays in maintaining trade statistics, with Dr. de Silva noting that the Department of Trade and Investment Policy’s trade database had not been updated since 2021. The Committee instructed officials to update all trade data and related information required for evidence-based policymaking within one week.

The meeting was attended by Deputy Ministers Chathuranga Abeysinghe and Dr. Kaushalya Ariyarathna, along with MPs Ravi Karunanayake, Harshana Rajakaruna, and Lakmali Hemachandra.