Category: Daily Financial Times

Leadership is one of the most valuable qualities in any successful organisation. While management focuses on planning and organising, leadership is about inspiring people, building trust, and guiding teams toward a shared vision. A true leader influences others not through authority alone but through integrity, commitment, and the ability to motivate.

Effective leaders communicate clearly and listen actively. They encourage collaboration, welcome new ideas, and create an environment where employees feel respected and valued. When people are empowered to contribute and grow, they become more engaged, productive, and committed to achieving organisational goals.

One of the defining characteristics of great leadership is the ability to lead by example. Leaders who demonstrate professionalism, accountability, and ethical behaviour earn the confidence and respect of their teams. During challenging times, employees look to their leaders for direction, reassurance, and confidence. A calm and positive approach can help teams overcome uncertainty and remain focused on solutions.

Leadership is also about developing others. Successful leaders invest time in coaching, mentoring, and recognising the achievements of their team members. By nurturing talent and encouraging continuous learning, they create future leaders who can sustain the organisation’s success.

In today’s rapidly changing business environment, adaptability has become an essential leadership trait. Leaders must embrace change, encourage innovation, and make informed decisions while remaining open to feedback. Organisations that foster adaptable leadership are better equipped to respond to market demands and seize new opportunities.

Ultimately, leadership is not defined by a job title but by the positive impact a person has on others. Great leaders inspire confidence, build strong relationships, and create a culture of trust, accountability, and excellence. As businesses continue to evolve, organisations that prioritise effective leadership will be better positioned to achieve sustainable growth and long-term success.

Established in 1981, BOC Maldives has grown steadily over the years, building a reputation as a trusted banking partner.

BOC Maldives forms an important part of Bank of Ceylon’s international network, connecting the bank’s operations in London, Chennai, Seychelles, Malé and Hulhumalé. Within this network, BOC Maldives occupies a unique position due to its presence in a tourism-driven economy and its role in facilitating banking relationships associated with trade, investment, foreign currency transactions, and broader regional business activities.

ank of Ceylon (BOC) Maldives recently celebrated its 45th anniversary, marking a significant milestone in the bank’s longstanding contribution to the Maldivian banking sector and its commitment to fostering economic growth and financial inclusion in the Maldives. A special customer felicitation ceremony was held to recognise long standing relationships with key customers and business partners with the participation of Bank of Ceylon’s Chairman Kavinda de Zoysa, General Manager/CEO Y.A. Jayathilaka, Acting Senior Deputy General Manager/Head of Global Markets G.A. Jayashantha, and Chief Manager of the Overseas Branches Division Harischandra Hewage together with Country Manager Manjula Herath and the staff of BOC, Maldives.

The ceremony reflected the bank’s appreciation for the trust and confidence placed in BOC Maldives over the years and underscored the importance of maintaining strong and mutually beneficial partnerships.

Addressing the gathering, senior representatives of the bank highlighted the institution’s journey over the past 45 years and emphasised the branch’s contribution towards strengthening economic ties between Sri Lanka and the Maldives. They also acknowledged the invaluable support extended by customers, stakeholders, regulatory authorities, and employees who have contributed to the branch’s success throughout the years.

One of the key highlights of the event was the announcement of the upcoming launch of Internet Banking services in the Maldives. This initiative represents another significant step in the bank’s digital transformation journey and its ongoing efforts to enhance customer convenience and accessibility. The branch has consistently embraced advancements in banking technology to improve customer service and operational efficiency. Notably, BOC was the first bank in the Maldives to introduce Automated Teller Machines (ATMs), demonstrating its pioneering approach to banking innovation within the country.

The anniversary also offered an opportunity to reflect on the legacy built by BOC Maldives since its establishment. Over the years, the bank has been associated with financing and supporting projects in government, infrastructure, tourism, resort development, construction, real estate, wholesale and retail trade, housing, fisheries, and aviation. Earlier milestones in the bank’s Maldivian operations have also recognised its role in supporting major national and sectoral projects, including airport-related development, Government sector financing, and the Hulhumalé Reclamation Project Phase II.

In addition, the BOC, Maldives has played a leading role in structuring and arranging syndicated financing facilities for major resort developments and strategic infrastructure development projects in the Maldives, creating opportunities for the participation of both Bank of Ceylon and other competitive Sri Lankan banks. This collaborative approach has contributed the development of Maldivian economy while reinforcing Bank of Ceylon’s standing as trusted banking partner.

Furthermore, during the aftermath of Cyclone ‘Ditwa’, the branch played a significant role in facilitating timeless remittance around $0.6 million as relief and support funds to Sri Lanka , demonstrating its commitment beyond traditional banking service. In 2025 alone, remittance amounting to $126.4 million were channelled to Sri Lanka through BOC, Maldives, reflecting the branch’s significant contribution to strengthening financial connectivity between two countries.

BOC Maldives looks forward to continuing its journey of growth and strengthening its contribution to the Maldivian economy for many years to come. The 45th anniversary celebration not only marked an important milestone in the branch’s history but also signalled the beginning of a new chapter characterised by digital innovation, enhanced customer engagement, and continued commitment to excellence in banking.

The two-day Regional High-Level Policy Dialogue ‘SAPLING (South Asian Policy Leadership for Improved Nutrition and Growth) Dialogue 2026’, jointly organised by the Ministry of Food Processing Industries (MoFPI), Government of India and the World Bank Group concluded successfully recently in Ahmedabad, Gujarat.

The Dialogue, held under the theme ‘Unlocking Value: Advancing Food Processing for Employment Generation and Sustainable Growth in South Asia’, brought together around 200 participants including policymakers, industry leaders, international organisations, development partners, researchers, startups, financial institutions, and representatives from South Asian countries to deliberate on strengthening resilient, inclusive, and sustainable food systems in the region.

The Sri Lankan delegation included Secretary to the Prime Minister Pradeep Saputhanthri, Assistant Secretary Mihiri Thennakoon, Trade, Commerce, Food Security and Cooperative Development Ministry Secretary K.A. Vimalenthirarajah, National Institute of Post-Harvest Management Chairman Prof. B.D. Rohitha Prasantha, MILCO Chairman G.V. Hemajeewa Gotabhaya, Agrithmics CEO Prashanth Premakumar, Dilmah Ceylon Manager Agriculture Innovation Nucleus Anuradha Ranasinghe, Keells Supermarkets Manager (fresh Technical Expert) Dhanushka Anuradha, Ocean Trade and Logistics Ltd., Managing Director Sudesh Mendis, SenzAgro Solutions Founder Miller Rajendran and Chief Technical Officer Brunthavan Murugaiah, World Bank Sri Lanka Senior Agriculture Economist Felipe F. Dizon, and World Bank External Affairs Officer Dilinika Peiris. Vimalenthirarajah, Sri Lanka’s High Commissioner in India Mahishini Colonne and Agrithmics’ CEO Premakumar spoke at the event as panellists.

India’s Union Minister for Ministry of Food Processing Industries, Chirag Paswan, while addressing the inaugural session, highlighted India’s growing role as a global food processing hub and emphasised the importance of value addition, technology adoption, and regional collaboration in transforming South Asia’s food economy.

The opening plenary featured participation by senior dignitaries, including Government of Gujarat Agriculture Minister Jitubhai Vaghani, World Bank Acting Country Director for India Paul Procee, Gates Foundation Country Director for India Archna Vyas, and , India’s Ministry of Food Processing Industries Secretary Avinash Joshi.

On the occasion, the report titled ‘Assessment of the Level of Food Processing in India’, commissioned by the Food Processing Industries Ministry, was released by the Ministers and dignitaries. The report presents a comprehensive assessment of food processing levels across major agricultural commodities and highlights the significant progress made in India’s food processing sector, with overall processing levels increasing from around 10% in 2016 to nearly 17% in 2023. The study also identifies substantial opportunities for value addition in perishable commodities such as fruits, vegetables, and dairy, and provides strategic policy recommendations to strengthen infrastructure, reduce post-harvest losses, enhance farmer incomes, and boost India’s global competitiveness in the food economy.

Addressing the concluding session, Joshi emphasised that food processing is not merely an economic opportunity but a national and regional imperative for South Asia. Highlighting India’s commitment through its flagship schemes and long-term development vision, he reaffirmed that India stands ready to serve as both a catalyst and a committed partner in advancing regional food processing transformation. He further underlined that food processing-led growth must focus on employment generation, MSMEs, women entrepreneurs, and farmer welfare, ensuring that the benefits of growth reach rural communities and small businesses.

Highlighting the importance of collaboration, Joshi stated that governments, industry, and development institutions must work together to translate ideas into impactful action. He noted that the SAPLING Dialogue has demonstrated the strength of multi-stakeholder partnerships in advancing resilient and sustainable food systems across South Asia.

On behalf of the Ministry of Food Processing Industries, Joshi expressed deep appreciation to the World Bank Group and the SAPLING team for conceptualising and co-organising the Dialogue. Gates Foundation was also a partner of the Dialogue.

He also thanked the distinguished delegates from South Asian countries for their valuable contributions, noting that their perspectives enriched the deliberations and reinforced the spirit of regional solidarity and cooperation.

The two-day SAPLING Dialogue 2026 concluded with a strong call for a concrete action plan and deeper collaboration between the Ministry of Food Processing Industries (MoFPI) and the World Bank Group for the holistic development of the food processing sector in South Asia.

The SAPLING Regional High-Level Policy Dialogue is aligned with the World Bank Group’s AgriConnect initiative and SAPLING platform, which seek to accelerate resilient and nutrition-focused food systems across South Asia through policy reform, investment mobilisation, and technology-driven solutions. Sri Lanka hosted last year’s SAPLING forum.

The event included an Innovation Fair showcasing breakthrough solutions in cold-chain logistics, digital traceability, sustainable packaging, smart processing technologies, and storage systems. The fair aims to strengthen partnerships among innovators, policymakers, and industry stakeholders.

Food processing the missing link between agriculture and prosperity

Organisers said food processing is often the missing link between agriculture and prosperity, generating jobs, raising farmer incomes, reducing food loss, and strengthening food security when food moves beyond the farm into value-added products and modern supply chains.

It was emphasised that South Asia›s food systems stand at a critical turning point. Rapid urbanisation, climate volatility, and evolving consumer expectations are reshaping how food is produced, processed, and consumed across the region, even as persistent challenges remain: food loss and waste, fragile farmer incomes, limited value addition, and widespread underemployment, particularly among women and youth.

Countries that have successfully modernised their food systems have done so by building strong food processing ecosystems, linking farmers, entrepreneurs, technology, finance, and markets into dynamic value chains. South Asia has a significant opportunity to accelerate this transition by positioning food processing as a strategic sector connecting agriculture, nutrition, climate resilience, and industrial growth.

In that context the regional high-level policy dialogue aimed at fostering cross-country learning, unlocking private investment, empower MSMEs, strengthening food safety systems, and ultimately creating more and better jobs while increasing farmer incomes across the food value chain.

Think big, act local

The emphasis was ‘think big, act local’ with the Dialogue having two sessions on the theme.

First session examined how South Asia can unlock the full potential of food processing to drive jobs, value addition, and resilient food systems. It focussed on global trends and lessons for South Asian countries within the evolving global food landscape, highlighting key trends shaping food markets, including sustainability, nutrition, innovation, and changing consumer demand.

Speakers shared international experiences on how countries have leveraged food processing to generate jobs, increase agricultural value addition, attract private investment, and strengthen food system resilience. These global benchmarks, it was stressed, will help inspire new thinking and identify proven policy pathways for sector transformation.

The session was moderated by World Bank Group Global Director Anup Jagwani and panellists included global multinational Nestle Group Leader, Regulatory and Scientific Affairs (General Foods) Himanshu Gupta, Ajinomoto Associate General Manager Shigeyuki Takeuchi, Rabobank

Head of RaboResearch Food and Agribusiness – Asia Dirk Jan Kennes and Food Industry Asia Country Head for India Parna Dasgupta.

Session two of the ‘Think big, act local’ endeavoured to chart South Asia’s Path Forward. It focussed on country priorities and regional opportunities for advancing food processing across South Asia. The panel discussed the ecosystem conditions needed to unlock growth, including market access, investment opportunities, MSME competitiveness, and enabling policy frameworks. In the spirit of the World Bank’s AgriConnect initiative, the discussion explored how governments, multilateral institutions, and the private sector can work together to mobilise finance, technology, and partnerships for sector development.

The panellists were Bayer CropScience Ltd., CEO and Bayer Country Group Head Simon Wiebusch, Bonton Foods Ltd., Managing Director Shamim Ahamed, Maldives State Trading Organisation (STO) Plc Commercial Operation Manager Hamdhana Abdul Rahman Hussain, and World Bank Practice Manager for Food and Agriculture – South Asia Tomas Rosada. It was moderated by Bhutan’s Royal Insurance Corporation ex-CEO Karma Karma.

From farm to factory

The Dialogue also discussed how to strengthen agricultural supply chains for the food processing sector. The session on ‘From Farm to Factory’ stressed that a strong food processing sector begins at the farm and ensuring reliable supply of high-quality raw materials requires closer alignment between agricultural production and the needs of processors.

The session highlighted how improved on-farm practices, quality standards, and traceability systems can strengthen linkages between farmers and processors. Discussions focussed on the role of contract farming models, research on processing-suitable crop varieties, farmer training, and investments in storage and post-harvest infrastructure to reduce losses and improve supply reliability. Participants were told that by strengthening these upstream connections, countries can help smallholders participate more effectively in modern value chains and processing markets.

Gates Foundation Manager Srivalli Krishnan moderated this session with panellists being Bhutan Agro Industries Ltd., CEO Sherab Namgay, Fib-Sol Life Tech Founder and CEO Dr. Kavitha Sairam, GAIN Country Director for Bangladesh Dr. Rudaba Khondker and India Ministry of Food Processing Industries Joint Secretary Ranjit Singh.

Bringing small processors into regulated value chains

‘From Shadow to Spotlight: Formalising the informal – bringing small processors into regulated value chains’ was another useful session at the Dialogue. It was stressed that millions of small-scale processors are the unsung heroes of South Asia’s food economy: feeding cities,

sustaining rural livelihoods, and keeping supply chains moving. Yet they remain largely invisible to policy, cut off from the finance, markets, and technology that could help them grow. Issues addressed included what would it take to change that? And what is the cost of leaving them behind?

The session addressed the structural barriers that keep small processors outside formal systems, from burdensome compliance requirements and limited access to certification support, to weak linkages with formal buyers and financial institutions. Panelists shared evidence on what works: graduated regulatory frameworks that match compliance demands to firm capacity, incentive-based formalisation pathways, cluster based approaches that help microenterprises collectively meet standards, and digital tools that reduce the cost of compliance and traceability. It also explored the role of anchor firms, cooperatives, and public programs in pulling informal processors upward into structured value chains.

Speakers were Bangladesh’s Ispahani Agro Ltd., Director Fawzia Yasmeen, Indian Institute of Management, Ahmedabad Centre for Management in Agriculture Professor Dr. Vidya Vemireddy, Manaram Group, Poshilo Foods Managing Director Prithwi Parajuli and Sri Lanka’s Agrithmics CEO and Founder Prashanth Premakumar. It was moderated by India’s single largest central trade union for women in the informal economy the Self-Employed Women’s Association SEWA Director, Rural and Economic Development Reema Nanavaty.

Transforming food processing through technology

The Dialogue’s second day kicked off with a session of ‘Smart Tech, Bold Innovations: Transforming food processing through technology.’ The basis for this session, according to the World Bank, was that technology and innovation are rapidly reshaping the future of food processing. From biotechnology and advanced processing techniques to modern cold chain systems and smart packaging, new solutions are helping reduce food loss, extend shelf life, and improve efficiency across food value chains.

Therefore the session highlighted emerging technologies that are transforming storage, transport, and processing, from low-carbon cooling systems and renewable energy-powered storage to innovations such as irradiation, dehydration, and digital traceability. The participants were told

how new business models, such as cooling-as-a-service, shared logistics, and data-driven supply chains, are enabling more efficient, scalable, and commercially viable food processing ecosystems.

The speakers were GreenPod labs CEO and Founder Deepak Rajmohan, Rukart Technologies Co-Founder and COO Sharayu Kulkarni, Novonesis Director of Food and Beverage Biosolutions Anurag Chadha, aQysta Country Manager Sujan Dulal and Bambrew Co-Founder and CBO Kunal Prasad. The moderator was ThinkAg Co-Founder Hemendra Mathur.

Safe food and strong markets

The Dialogue also focused on the aspects of ‘safe food and strong markets’ with emphasis on health, quality, and standards for competitive trade

It was stressed that safe and high-quality food is essential for protecting public health while enabling countries to compete in global markets. As South Asia expands its food processing sector, stronger food safety systems and modern standards are becoming critical foundations for growth.

This session explored how countries can strengthen food safety frameworks while supporting industry innovation and export readiness. Discussions highlighted advances in food safety science,

laboratory systems, digital monitoring, and traceability tools, as well as practical approaches to improving compliance through risk-based regulation, training, and performance-based incentives. The session also examined how aligning national systems with Codex standards can help strengthen consumer confidence and expand market access.

Sri Lanka’s Trade and Food Ministry Secretary K.A. Vimalenthirarajah was one of the panellists along with Bhutan Food and Drug Authority Director Gyem Bidha, Bangladesh Food Safety Authority Chairman Anwarul Islam Sarker, Government of Gujarat’s Organic Products Certification Agency Director Anil Patel and Only What’s Needed Founder Director Revant Himatsingka. The session was moderated by SAARC Director Agriculture, Rural Development and SDF Tanvir Ahmad Torophder.

Farm, firm and finance

Mobilising investment for food processing growth was also tackled at the Dialogue with a session titled ‘Farm, Firm and Finance.’ It emphasised that scaling food processing across South Asia will require significant investment, strengthen infrastructure, and modernise value chains. Unlocking this capital will depend on innovative financing models and stronger partnerships between the public and private sectors.

The session enlightened participants how blended finance, public-private partnerships, and risk-sharing mechanisms can mobilise greater investment in food processing. It also examined opportunities to attract foreign direct investment, strengthen regional value chains, and leverage digital and infrastructure investments to support sector growth.

Speakers included Bhutan Development Bank CEO Tshering Om, NABARD Gujarat Regional Office General Manager Nidhi Sharma, Prowess Advisors CEO Rohit Bahadur, Bangladesh Ministry of Food Joint Secretary Mohammad Manir Hossain and Arshia Gupta, World Bank Rural Development Specialist. It was moderated by Gates Foundation Principle Officer Private Sector Megha Jain.

Regional collaboration and policy action in South Asia

The Dialogue also focussed on ‘Regional Collaboration and Policy Action in South Asia’ driving the need to shape a shared food future. This session brought together leaders from Government, industry, start-ups, academia, and farmer organisations to reflect on the key insights emerging from the dialogue. The discussion highlighted priority policy actions, opportunities for regional collaboration, and the roles different stakeholders can play in advancing food processing and food systems transformation across South Asia. It explored how national and local priorities can align with regional ambitions, and how platforms such as SAPLING, together with initiatives like the World Bank Group’s AgriConnect, can help translate dialogue into sustained collaboration, knowledge exchange, and concrete action.

It was moderated by Institute for Integrated Development Studies Fellow and Policy Lead, Food Security and Nutrition Senior Research Dr. Yamuna Ghale and the panellists were Maldives Fuvahmulah City Council Mayor Ismail Rafeeq, India’s Food Processing Industries Ministry Joint Secretary Devesh Deval, Sri Lanka’s High Commissioner in India Mahishini Colonne, ITC Ltd., Executive Vice President and Head – Social Investments Lingareddy Prabhakar and BIMSTEC Lead Specialist, Agriculture and Food Security Sourav Ghosh.

The Policy Dialogue’s closing plenary focussed on call to action to unlock value in food processing in South Asia. It captured key insights from the Dialogue, highlighting the most important policy, investment, and innovation priorities identified across sessions. It also focussed on shaping a forward-looking regional pathway for food processing-led growth in South Asia. The speakers were IFC Senior Manager Kalim Shah, Gujarat Government’s Principal Secretary – Agriculture Ramesh Chand Meena and India’s Food Processing Industries Ministry Secretary Avinash Joshi.

D.S. Senanayake College produced a strong second-half performance to overcome St. Anthony’s College 20/10 in the second Alles Cup rugby encounter played at Havelock Park last evening.

The Antonians held a slender 7/6 lead at halftime after dominating much of the opening spell with disciplined play and effective defence.

DS scored their points through two converted tries and an equal number of penalties, while the Antonians scored a converted try and a penalty.

However, the contest changed completely after the turnaround as DS Senanayake raised their intensity, controlled possession, and dictated proceedings.

The Colombo school scored crucial points during the second half while keeping the Antonians under sustained pressure, turning a one-point halftime deficit into a convincing 10-point victory.

It was a classic tale of two halves, with the Antonians enjoying the better of the opening 35 minutes before D.S. Senanayake took complete control after the break through a determined all-round display.

Referee Hasantha Weranga officiated the encounter.

It was a fitting sign-off for head coach Asela Deshapriya, who had been with DS for the past seven years.

Earlier in the day, St. Anthony’s College emerged victorious in the Under-16 match for the Wickramaratne Trophy, recording a comfortable 15/0 win. (SJ)

Sri Lanka and Pakistan have agreed on a series of initiatives to strengthen bilateral economic cooperation, including expanding trade, promoting investment, enhancing entrepreneurship and facilitating technology exchange, following high-level discussions held at the Industries and Entrepreneurship Development Ministry.

The decisions were reached during a meeting between Industries and Entrepreneurship Development Minister Sunil Handunneththi and Pakistan’s High Commissioner to Sri Lanka, Major General (Retd.) Dr. Nayyar Naseer, on 3 July.

The discussions focused on deepening bilateral relations while creating new opportunities for trade, investment and entrepreneurship between the two countries.

Both sides agreed to implement exchange programs through the Entrepreneurship Development Authority with counterparts in Pakistan’s Punjab and Karachi regions. They also decided to initiate technology exchange programs in the gem and jewellery sector through the National Gem and Jewellery Authority.

The meeting also paid particular attention to reversing the decline in Sri Lanka’s tea exports to Pakistan and removing existing obstacles to facilitate the early commencement of pineapple and avocado exports to the Pakistani market.

As part of efforts to strengthen commercial ties, the two sides agreed to organise a special business forum in Pakistan with the support of the Export Development Board (EDB), enabling direct engagement between Sri Lankan exporters in selected sectors and Pakistani businesses.

The Pakistani High Commissioner also expressed interest in promoting Sri Lankan products in the Pakistani market, while discussions explored opportunities to further increase Pakistani investments in Sri Lanka’s pharmaceutical manufacturing sector.

The meeting was attended by Industries and Entrepreneurship Development Ministry Secretary Thilaka Jayasundera, Export Development Board Chairman Mangala Wijesinghe, Pakistan High Commission Trade and Investment Attaché Mahwash Sami, and senior officials from the Ministry and the Pakistan High Commission.

Ambassador Qi Zhenhong last week assured that China stands ready to continue working alongside Sri Lanka, further strengthen the synergy of development strategies, and deepen exchanges and cooperation in areas such as port economy, modern agriculture, digital economy, new energy, and poverty reduction.

‘With our joint efforts, we can paint a more magnificent picture of building a China-Sri Lanka community with a shared future,’ he added during his remarks at the China-Sri Lanka Readers Forum on ‘Xi Jinping: The Governance of China (Volume V)’ in Colombo.

The event saw the participation of Deputy Head of Central Office of Cultural and Ethical Progress of China Hu Kaihong, Speaker of the Parliament of Sri Dr. Jagath Wickramaratne, Deputy Minister of Education and Higher Education Madhura Senevirathne, China International Communications Group Vice President Yu Tao and the Communist Party of Sri Lanka General Secretary G. Weerasinghe among others.

Following are excerpts of Ambassador Qi Zhenhong’s speech at the ceremony.

It is a great honour to gather here with you today for the China-Sri Lanka Readers Forum on Xi Jinping: The Governance of China(Volume V). Together, we will jointly explore the profound theoretical insights and rich practical achievements of this book. I would like to extend a warm welcome to all the distinguished guests, and express my heartfelt gratitude to friends from all walks of life who have long been caring for and supporting China and China-Sri Lanka relations.

Hu Kaihong delivered an in-depth and systematic exposition of the core tenets and rich essence of Xi Jinping: The Governance of China(Volume V), with a focus on China-Sri Lanka cooperation and exchanges. I believe that everyone here has gained a deeper understanding of the stances, viewpoints, as well as methods contained therein. I would like to take this opportunity to share a few reflections from my own study.

This work demonstrates that Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era is broad and profound, while keeping pace with the times. This thought is the Marxism of contemporary China and of the 21st century. It embodies the finest of Chinese culture and the Chinese spirit of our times, serving as a scientific guide for our endeavours to build a great country and advance national rejuvenation on all fronts through Chinese modernisation. Meanwhile, it has made a global contribution to people of all countries in enhancing cultural exchanges and mutual learning, jointly pursuing modernisation, and addressing the common challenges confronting humanity.

The Volumes I to IV systematically reflect the development trajectory and key content of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era. Since the publication, the series has drawn widespread attention and sparked strong responses, playing a vital role in helping the international community gain a comprehensive and accurate understanding of China’s path, China’s governance, and China’s philosophy. The Volume V, sharing the same origins with the preceding volumes, stands as an authoritative work that systematically presents the latest achievements of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era. It vividly presents new strategies, new perspectives, new assertions, and new requirements for advancing Chinese modernisation, and elucidates the governance experience of the Communist Party of China-such as putting people first, deepening reform and opening up, and upholding fundamental principles while breaking new ground. It helps countries around the world further grasp the ‘intellectual key’ to understanding a real China and enables them to accurately decode the secret of how China’s governance has succeeded.

This work articulates China’s latest approaches to grasping the major trend and following the right path to address global challenges. Nowadays, the international landscape is witnessing turbulence and transformation. Against this backdrop, the Volume V offers a profound elaboration on the rich connotations and practical achievements of the vision of building a community with a shared future for humanity. It further provides a scientific answer to the pressing questions of how to respond to a changing world. It also charts the progress of the Global Development Initiative, the Global Security Initiative, and the Global Civilisation Initiative in building a better world. Furthermore, it fully demonstrates China’s broad vision and sense of responsibility in bringing new momentum and new opportunities to the world through its own new development. Following the publication of Volume V, President Xi Jinping put forward the Global Governance Initiative at the SCO Tianjin Summit, advocating for building a more just and equitable global governance system. The four major global initiatives, interwoven and organically integrated, light the way forward for a world searching for direction and contribute China’s wisdom and solutions to building a shared future of prosperity and well-being for all.

This work provides new inspiration and guidance for the continued development, revitalisation, and win-win cooperation of China and Sri Lanka. The China-Sri Lanka friendship, spanning over two thousand years, has always remained deep-rooted and flourishing. As China forges ahead along the new journey of building a great country and advancing national rejuvenation on all fronts through Chinese modernisation, Sri Lanka is also striving to boost economic development, improve people’s livelihoods, and realise the vision of ‘a thriving nation, a beautiful life.’ The guiding principles and practical pathways set forth in the Volume V on deepening reform comprehensively, expanding high-standard opening-up, achieving high-quality development, and pursuing Belt and Road cooperation provide useful reference and inspiration for Sri Lanka. These contents also outline a new horizon for the two countries to join hands in advancing modernisation and achieving common prosperity. Next year will mark the 70th anniversary of the establishment of diplomatic ties between China and Sri Lanka. China stands ready to continue working alongside Sri Lanka, further strengthen the synergy of development strategies, and deepen exchanges and cooperation in areas such as port economy, modern agriculture, digital economy, new energy, and poverty reduction. With our joint efforts, we can paint a more magnificent picture of building a China-Sri Lanka community with a shared future.

Volume V belongs not only to China, but also to the world. It records the exploration and practice of an ancient civilisation striding toward modernisation, and it carries the reflections and sense of responsibility of a major country for the future of humanity. I am confident that Volume V will become a window for people from all walks of life in Sri Lanka to understand China in the new era. Let us build consensus through dialogue, enlighten one another through mutual learning, and forge the future through cooperation. Together, we can build a China-Sri Lanka community with a shared future, bringing greater benefits to our two peoples.

For decades, Sri Lanka has witnessed a grim and depressingly familiar pattern. Individuals held in the custody of the State, whether by the Police or the Prisons Department, have died under strikingly similar circumstances. The official explanation has become almost formulaic with the detainee, often described as an alleged underworld figure, taken to recover hidden weapons, attempted to escape or attack officers, and was fatally shot. These accounts have been repeated so often that they have ceased to invite scrutiny and have become a convenient script to justify deaths that demand the highest level of investigation.

Successive governments have failed to confront this phenomenon. Even more troubling is the role played by institutions entrusted with upholding the rule of law. The police, who are expected to impartially investigate custodial deaths, have failed to investigate their own. The Attorney General’s Department, responsible for prosecuting those implicated in criminal wrongdoing, has never pursued meaningful accountability. The judiciary, which must insist upon due process and protect constitutional rights, has too been unable or unwilling to ensure that those responsible are brought before the law. Whether through institutional inertia, deliberate neglect, or outright complicity, the justice system has repeatedly failed to hold perpetrators accountable.

The ongoing high-profile extortion investigation has exposed what appears to be the logical and disturbing evolution of years of impunity. In a remarkable revelation, the son of a former Justice Minister and several associates have been accused of obtaining Rs. 120 million in exchange for ensuring that an underworld figure held in State custody would ‘not be killed.’ The allegations are extraordinary not merely because of the amount involved, but because they reportedly implicate individuals occupying the highest levels of law enforcement and and Government,

Minister in-charge of the Police, and a former Secretary to the President. Although investigators have yet to officially confirm these wider allegations, their very existence should alarm every citizen.

According to information that has emerged, the alleged extortionists cited the extrajudicial killing of notorious underworld figure Makandure Madush as proof that the detainee’s life was genuinely at risk while in police custody. That such an argument could carry credibility is itself a damning indictment of the State. It reflects a public perception that custodial deaths are neither exceptional nor accidental, but an accepted feature of the criminal justice system.

This is the inevitable consequence of decades of inaction. When extrajudicial killings are ignored, they cease to be isolated abuses and instead become opportunities for exploitation. What began as a failure to investigate unlawful deaths has allegedly evolved into a sophisticated racketeering enterprise, where individuals with influence can profit by offering ‘protection’ from the very institutions responsible for safeguarding those in custody. Such a situation represents not merely corruption, but a complete collapse of the rule of law.

Public confidence in the Police, the Attorney General’s Department, and the broader justice system has been severely eroded. Citizens cannot be expected to trust institutions that appear incapable of protecting even those under their direct control or unwilling to investigate credible allegations against their own officers and officials.

Even at this late stage, there remains an opportunity to arrest this institutional decay. Every custodial death, regardless of the victim’s alleged crimes or reputation, must be treated as a potential extrajudicial killing and investigated independently, transparently, and without political interference. Those responsible, regardless of rank or office, must be prosecuted and punished.

Foreign Affairs and Foreign Employment Deputy Minister Arun Hemachandra attended the 75th anniversary celebration of the Colombo Plan, held on 3 July at the Galle Face Hotel, Colombo, as the Guest of Honour, alongside Prime Minister Dr. Harini Amarasuriya, Colombo Plan Secretary General Chulamanee Chartsuwan, members of the diplomatic community, and other distinguished guests.

A significant highlight of the ceremony was the unveiling of the Colombo Plan 75th Anniversary Commemorative Stamp, marking seven and a half decades of enduring friendship, regional cooperation, and shared development among Colombo Plan member countries.

Addressing the occasion, Deputy Minister Hemachandra emphasised the Colombo Plan’s longstanding contribution to human resource development, education, technical cooperation, and capacity building across the Asia-Pacific region.

He noted that the organisation has played a vital role in strengthening partnerships among member States, while fostering sustainable and people-centred development.

The Deputy Minister also noted that Sri Lanka continues to value the Colombo Plan as an important platform for international collaboration, reflecting the country’s commitment to advancing knowledge, skills, and opportunities through meaningful regional partnerships.

Extending his congratulations on this significant milestone, Hemachandra conveyed his best wishes for the continued success of the Colombo Plan, expressing confidence that it will further strengthen regional cooperation and contribute to the prosperity and well-being of future generations.

The Management Club of Colombo hosted a high-impact Members’ Night on cyber resilience, drawing senior executives and entrepreneurs from across Sri Lanka’s corporate landscape. The forum delivered a sobering account of the country’s escalating cyber threat environment, with CICRA Holdings Group Director/CEO Boshan Dayaratne, delivering the keynote address.

Dayaratne, a recognised authority in the field who has been invited by the United States Pacific Command to address senior military officials from 28 nations, brought the discussion to the boardroom with real-world lessons drawn from recent Sri Lankan cyber incidents. His presentation dissected critical vulnerabilities that have shaken the nation’s financial and corporate sectors.

Dayaratne walked the audience through key learning outcomes from significant cyber incidents, each exposing fundamental weaknesses in organisational defence:

‘The Credential Exploitation Lesson’, a scheme exploiting weekend monitoring blind spots and stolen credentials demonstrated that segregation of duties is meaningless if credentials are shared or stolen. Transactions were structured to evade automated alert thresholds, with funds subsequently laundered through cryptocurrency exchanges.

‘The Business Email Compromise Lesson’, a major financial loss resulted from a look-alike domain impersonating an international partner. Staff received fraudulent instructions to change beneficiary bank details over an extended period. The critical lesson: never trust email payment instructions, require out-of-band phone verification.

‘The OTP Exploitation Lesson’, a significant customer loss occurred when an attacker gained control of a mobile device, likely through a phishing link tricking the user into sharing a one-time password. The lesson: your OTP is as powerful as your password, never share it, and separate personal and work devices.

‘The Data Governance Lesson’, a catastrophic data breach exposed sensitive personal information, including National Identity Card scans, KYC records, and board member data now permanently available on the dark web. This breach resulted from years of ignored audit warnings, including poor firewall management, no user access reviews, improper encryption controls, and no privileged access management system in place.

‘This isn’t about sophisticated nation-state hacking,’ Dayaratne told the audience. ‘Every single one of these attacks succeeded because a human was manipulated or a basic control was ignored.’

The CEO identified the key tactics used by attackers:

BusinessEmail Compromise – spoofed email addresses and look-alike domains

Social Engineering – WhatsApp phishing, fake bank calls, and CEO impersonation

OTP Exploitation – tricking individuals into sharing one-time passwords

Device Takeover – malware installed through seemingly legitimate links

Dayaratne emphasised that traditional perimeter-based security is no longer sufficient. He advocated for Zero Trust Architecture, where no user is trusted simply because they are inside the corporate network, and stressed the importance of regular simulation testing to train employees to recognise threats.

‘One annual PowerPoint presentation on cybersecurity is a waste of money,’ Dayaratne asserted. ‘What works is baseline testing, immediate training for those who click, repeated monthly simulations, and rewarding eagle-eyed employees.’

He cited a local example where a Sri Lankan insurance firm reduced its click rate on phishing simulations from 32% to 6% after four rounds of testing.

With Sri Lanka’s Personal Data Protection Act (PDPA) No. 22 of 2025 enforcement moving closer to operational reality, Dayaratne issued a stark warning to the board members and entrepreneurs in attendance.

‘Data protection is no longer an IT issue, it is a boardroom responsibility,’ Dayaratne told the audience. ‘Directors now face regulatory, financial, reputational, and personal risks tied to organisational data governance.’

He referenced the catastrophic data breach as a case study of what happens when data governance fails, noting that under PDPA, organisations face administrative penalties, mandatory breach notifications, and potential civil claims.

The discussion was further enriched by Commercial Bank of Ceylon PLC Chief Information Security Officer Sunari Dandeniya, who shared practical perspectives on cybersecurity governance, risk management, regulatory compliance, and the importance of embedding cyber awareness across all levels of an organisation.

Moderated by TMC Colombo Treasurer and Master Divers Ltd. and Pelwatte Coconut Industries Ltd. Director/Chief Executive Officer Priyantha Hapuarachchi, the forum featured an engaging exchange of ideas between the keynote speaker and participants. The interactive discussion enabled attendees to gain deeper insights into emerging cyber risks, incident response preparedness, and best practices for strengthening organisational resilience.

Held under the leadership of TMC Colombo Chairperson Duneeshya Bogoda, the forum formed a part of the Club’s ongoing commitment to providing relevant and impactful knowledge-sharing opportunities for its members and the wider business community. The event was organised under the stewardship of TMC Colombo Executive Committee Member and Project Chairperson Gayathri Wickramasinghe with the support of Co-Project Chairperson Priyantha Hapuarachchi.

Participants commended the forum for its practical relevance and timely focus, particularly as organisations across industries continue to face increasing cyber threats, regulatory demands, and digital transformation challenges. The event underscored the importance of cybersecurity resilience as a critical component of business continuity, corporate governance, and long-term organisational success.

Through initiatives such as the Cyber Security Resilience Forum, TMC Colombo continues to foster thought leadership and professional development by creating platforms that facilitate meaningful dialogue on contemporary business and management issues, enabling organisations to navigate an increasingly complex and technology-driven future.

The Export Development Board last week bid farewell to Renuka Weerakoon who retired as the Director General of the Board of Investment. Here EDB Chairman and Chief Executive Mangala Wijesinghe (right) presents a memento to Weerakoon at a ceremony at the EDB.