Category: Daily Financial Times

The Federation of Chamber of Commerce and Industry of Sri Lanka (FCCISL) yesterday bid a heartfelt farewell to Immediate Past President Keerthi Gunawardane.

The chamber said: ‘This remembrance honors a life dedicated to the nation’s economic progress, the empowerment of local businesses, and the strengthening of regional trade. His strategic vision, unwavering support for Sri Lankan enterprises, and profound humanity will forever remain the guiding light of our chamber fraternity.

The Sri Lankan business landscape has lost one of its most ardent champions. Kalawitigodage Keerthi Sirimewan Gunawardane, the Immediate Past President of the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL), has passed away. As the corporate community gathers to pay its final respects at his funeral this coming Sunday, it is a fitting moment to reflect on a remarkable journey of entrepreneurial brilliance and selfless national service.

Born to lead, Gunawardane’s educational foundation was laid at Kingswood College in Kandy, St. Thomas’s College in Gurutalawa, and Central College in Welimada. He later pursued higher education, earning an Economics Special (Hons.)

degree from the University of Sri Jayewardenepura. His drive for continuous learning also led him to the University of Colombo to study Hypermedia Engineering and Multimedia Technology, and to the Institute of Chartered Accountants of Sri Lanka for a Post Graduate Diploma in Business and Financial Administration.

He began his corporate career as a Management Trainee at the Sri Lanka State Trading (General) Company, eventually serving as the Marketing Manager and Director of Marketing at Toppan Moore (Colombo) Limited. In 1991, he stepped out to chart his own entrepreneurial path by founding Graphic Systems Ltd. Under his stewardship as Chairman and Managing Director, the enterprise transformed from a small printing firm into Sri Lanka’s leading company for NCR Business forms. His pursuit of excellence earned him the National Bronze Award at the ‘Sri Lanka Entrepreneur of the Year’ in 1999 and the Provincial Merit Award for the Western Province in 2001. Recognising his lifelong dedication, the Sri Lanka Association of Printers honored him with a Lifetime Achievement Award in 2018.

However, his most enduring journey lies in his service to the broader business community. Taking the reins as President of the FCCISL in October 2022, he guided the Chamber through one of the most challenging economic eras in recent history.

He was deeply committed to regional collaboration, serving proudly as the SAARC contact point for Sri Lanka. He actively championed trade, investment, and innovation across SAARC nations to drive sustainable economic growth. Furthermore, his international networking efforts were instrumental in securing the hosting rights for the 39th Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) Conference in Colombo. He also spearheaded strategic engagements alongside the Export Development Board (EDB) to unlock vital export opportunities in the Japanese market for local businesses.

Gunawardane’s vision extended far beyond corporate boardrooms; he was committed to empowering the grassroots level. He advocated strongly for local startup support, frequently pushing for policies that would allow Sri Lanka to emulate thriving regional startup ecosystems.

He was also a driving force behind a workplace-based learning program in the hospitality sector. By partnering with NAITA and the ILO, he helped launch an initiative to sharpen the skills of returnee and aspirant migrant workers across districts such as Anuradhapura, Batticaloa, and Jaffna, giving them tangible pathways to local and overseas employment.

Beyond his professional accolades, Keerthi was a devoted family man, leaving behind his wife and three daughters. He was a leader who balanced his immense corporate responsibilities with deep empathy, humility, and kindness.

For those of us at the FCCISL, he was more than a president; he was a mentor, a steady pillar of strength, and a true friend. We will deeply miss his pragmatic advice, his calm demeanor during crises, and his unyielding belief in the potential of Sri Lankan enterprises. As we bid him a final farewell this Sunday, we find solace in the fact that his legacy will continue to inspire generations of entrepreneurs.

Over 200 participants, including over 150 women entrepreneurs from across the Northern Province, gathered at ReeCha Park and Resort in Kilinochchi for the Emerging Women Summit, a landmark event dedicated to strengthening women-led enterprises through improved access to finance, markets, networks, and business development opportunities.

Organised by the Lanka Impact Investing Network (LIIN) under the Growth, Resilience, Investment and Training (GRIT) Project, the Summit was funded by Global Affairs Canada and implemented in partnership with the World University Service of Canada (WUSC). The event brought together women entrepreneurs, government institutions, financial institutions, business support organisations, universities, and private sector representatives under the theme ‘Unlocking Markets and Capital for Women Entrepreneurs in Northern Province.’

The Summit commenced with an inspiring welcome address by Lanka Impact Investing Network Chairman Chandula Abeywickrema, who underscored LIIN’s commitment to fostering inclusive economic growth and supporting women entrepreneurs as key drivers of regional development and economic resilience.

The Chief Guest, Department of Industry Northern Provincial Director S. Krishnendran reaffirmed the Government’s recognition of women-led enterprises as vital contributors to the economic development and resurgence of the Northern Province. He emphasised the importance of strengthening institutional support systems to help women entrepreneurs expand and sustain their businesses.

Addressing the gathering, Industry Development Board Northern Province Director S. Sivagangadaran highlighted ongoing efforts to enhance enterprise development services and create greater opportunities for women entrepreneurs across the region. The partner organisation address was delivered by WUSC Sri Lanka Country Director Mumtaz Faleel, who emphasised the transformative impact of investing in women’s economic empowerment and the importance of building ecosystems that enable women-led businesses to thrive.

A central feature of the Summit was two high-level panel discussions addressing the most pressing challenges faced by women entrepreneurs.

The first session, ‘Capital for Growth: Financing Women-Led Enterprises,’ explored practical pathways to improve access to finance and strengthen financial readiness among women entrepreneurs. Panelists from the Export Development Board, Chamber of Women’s Economy, and DFCC Bank discussed government support schemes, financial literacy, business registration, bookkeeping practices, tax compliance, and the importance of building credibility when seeking financial assistance. The discussion encouraged entrepreneurs to strengthen financial management practices and take advantage of available institutional support mechanisms.

The second session, ‘Bridging Markets: Expanding Opportunities for Women Entrepreneurs in Northern Province,’ focused on market access, branding, digital presence, product quality, packaging, and buyer expectations. Entrepreneurs and business leaders shared practical insights on how women-led businesses can move beyond local markets and successfully engage with national and export opportunities. The discussion highlighted the importance of consistency, market readiness, collaboration, and digital marketing in building sustainable enterprises.

The Summit also featured a vibrant women entrepreneurs marketplace, with more than 40 stalls showcasing products ranging from food and beverages, handicrafts, clothing, jewellery, and other locally produced goods. The marketplace provided a valuable platform for entrepreneurs to promote their products, connect with potential customers, and establish new business relationships.

Another highlight of the event was the Entrepreneurs Fashion Ramp, which showcased products created by more than 25 women entrepreneurs from across the Northern Province. Featuring clothing, jewellery, handbags, accessories, and other locally produced items, the showcase celebrated the creativity, talent, and entrepreneurial achievements of women-led businesses while providing increased visibility and market exposure.

The Summit also welcomed participation from a broad range of stakeholders, including the District Secretariats of Kilinochchi and Mannar, Department of Industries, Industry Development Board, Export Development Board, National Enterprise Development Authority (NEDA), National Credit Guarantee Institution, University of Jaffna, University of Vavuniya, HATCH, Chrysalis, Northern Chamber of Industries, Commercial Bank, DFCC Bank, and successful entrepreneurs from across Sri Lanka.

The event created valuable opportunities for entrepreneurs to connect with financial institutions, government agencies, business support organisations, and potential market partners. New market linkages were established, future collaboration opportunities were identified, and entrepreneurs gained practical knowledge to strengthen and grow their enterprises.

As the Summit concluded, organisers reaffirmed their commitment to supporting women entrepreneurs beyond the event. Through the GRIT Project, LIIN and its partners will continue to promote targeted capacity-building programmes, strengthen access to finance, and expand market opportunities to ensure women entrepreneurs across the Northern Province have the resources and support needed to thrive, grow, and lead.

The Emerging Women Summit demonstrated the remarkable potential of women entrepreneurs in Northern Sri Lanka and reinforced the importance of collaborative action in building a more inclusive and resilient economy.

A high-level review of the implementation of projects and policy initiatives under the 2026 Budget was held yesterday at the Presidential Secretariat, with officials assessing progress, implementation bottlenecks and measures required to accelerate delivery.

According to the President’s Office, the meeting was chaired by Secretary to the President Dr. Nandika Sanath Kumanayake and focused on the status of ministry-level projects as well as challenges affecting the execution of key Budget proposals.

The review covered projects being implemented by a broad range of ministries, including Defence; Finance, Planning and Economic Development; Digital Economy; Foreign Affairs, Foreign Employment and Tourism; Agriculture, Livestock, Land and Irrigation; Transport, Highways and Urban Development; Ports and Civil Aviation; Public Administration, Provincial Councils and Local Government; Trade, Commerce, Food Security and Cooperative Development; Justice and National Integration; Women and Child Affairs; Rural Development, Social Security and Community Empowerment; Public Security and Parliamentary Affairs; Youth Affairs and Sports; and Environment and Housing, Construction and Water Supply.

The President’s Office said particular attention was paid to implementation challenges and the actions required to overcome delays and improve project execution.

Addressing officials, Dr. Kumanayake stressed the importance of closer coordination among Government institutions to resolve outstanding issues and ensure that Budget-funded projects are delivered on schedule.

He also emphasised that expediting implementation and ensuring that the intended benefits reach the public remains a shared responsibility of all stakeholders involved in project execution.

The meeting forms part of the Government’s efforts to monitor the progress of initiatives announced under the 2026 Budget amid a broader focus on improving public sector efficiency and strengthening implementation capacity.

Following the death of former SriLankan Airlines CEO Kapila Chandrasena, startling revelations are coming to light on how he and the then Chairman Nishantha Wickremasinghe took detrimental decisions that continuously incurred heavy losses to the airline.

These unfavourable decisions were taken by the top management with the alleged blessings of then President Mahinda Rajapaksa and Defence Secretary Gotabaya Rajapaksa, as revealed at the Board of Inquiry (BoI) that conducted investigations into the irregularities that occurred at SriLankan Airlines (SLA) prior to 2015.

Among the damaging decisions taken were the award of the onboard duty-free services contract in violation of airline tender procedures, a questionable transfer granted to a Senior Country Manageress, handing over SLA and SriLankan Cargo security operations to a security firm that did not have any aviation security experience, and the dubious release of a cabin crew member to work for Namal Rajapaksa.

Rigged tenders

The Board of Investment of Sri Lanka (BoI) has unearthed how former Chairman Nishantha Wickremasinghe and CEO Kapila Chandrasena were involved in awarding the supply and delivery contract for wines and champagne for Business and Economy Classes to M/S Phoenix, in violation of the airline’s tender procedure.

Chapter 4, Section 3 (Pages 48 to 59) of the BoI report on SLA extensively details how the onboard duty-free services contract was awarded to M/S Phoenix in complete violation of SLA’s tender procedure, for a contract value of USD 8,209,418 (approximately Rs. 1.06 billion).

SLA called for tenders (Tender No: 201130129) on 29 May 2011 for the supply and delivery of wines and champagne for Business and Economy Classes, requesting a minimum credit period of 30 to 60 days. Forty-six local and international bidders submitted bids, of which 17 were shortlisted. Of the shortlisted suppliers, three agreed to a 90-day credit period, one agreed to 75 days, and the rest agreed to 60-day credit periods. By 16 August 2011, they had supplied wines and champagne for tasting.

However, in September or October 2011, M/S Phoenix approached Wickremasinghe and Chandrasena seeking the tender contract as the exclusive supplier of wines and champagne onboard.

Following discussions with M/S Phoenix, Chandrasena gave verbal instructions to the Commercial Procurement Division to actively explore the proposal submitted by the company, overlooking the 17 shortlisted bidders. On 27 January 2012, only the wines and champagne supplied by Phoenix were tasted and assessed. More startling was the fact that the wine and champagne tasting panel was selected not by the airline but by Phoenix, and its CEO/MD, Raju Chandiram, was a member of the tasting panel.

It is alleged that, due to the intervention of Wickremasinghe and Chandrasena, SLA made a conscious decision to overlook the 17 shortlisted bidders without even tasting the wines and champagne they had provided, and instead arranged to taste only the samples provided by Phoenix. Without informing the 17 shortlisted suppliers, SLA selected Phoenix as the supplier of wines and champagne.

Following this, Kapila Chandrasena and Head of Finance Dissanayake submitted two separate board papers – No: FIN/2012/03/18 offering the contract for the supply of wines and champagne for onboard use, and No: FIN/2012/03/19 cancelling the tender called on 29 May 2011.

Thereafter, the Board approved the request and entered into a contract with Phoenix on 27 June 2012, even though the company had not bid for the original tender and was selected in blatant disregard of SLA tender procedures.

Vehicle spare parts

Meanwhile, Chapter 5, Section 4 of the BoI report (Pages 82 to 83) details how the London-based Senior Country Manager was suddenly transferred in 2012 because she objected to sending unaccompanied cabin baggage on flight UL 504 carrying vehicle spare parts for Rohitha Rajapaksa, the youngest son of Mahinda Rajapaksa.

Desiree Premachandra was the Country Manageress for Ireland and the UK, based in London. Premachandra was appointed to the post in September 2011 and was suddenly transferred in May 2012 to Hong Kong to complete the balance period of her contract because she objected to sending unaccompanied cabin baggage to Colombo.

As per the investigation carried out, in April 2012, the British authorities were to conduct a random check on baggage at Heathrow Airport. The Country Manageress was informed by station staff that there had been regular unaccompanied baggage from the Sri Lankan High Commission in London, addressed to the Presidential Secretariat, containing vehicle spare parts for the President’s son, Rohitha Rajapaksa, and that this may be detected by UK security authorities. Flight UL 504 was scheduled to leave London at 21:35 hrs on 24 May 2012.

Soon after the Country Manageress was informed about the unaccompanied baggage and the possible conduct of a random check by the British authorities, she inquired whether this practice had existed for a long time. It had come to her notice that bags brought by the Protocol Officer, weighing approximately 25 to 35 kg, had been sent to Sri Lanka in the past as well.

Premachandra then found out that the unaccompanied cabin bags had been sent not as diplomatic bags but with a ‘Rush Tag’, even though there were no airway bills or claimants on board. A Rush Tag is an identification tag used for re-dispatched baggage, including baggage that is lost, unclaimed, or mishandled.

It had been a practice for UL flights from London to carry these bags in the cabin and hand them over to the ‘authorities’ in Colombo, namely the Presidential Secretariat. Although this method had been carried out on several occasions, it was known only to a few identified officials.

Before the UK authorities checked these bags, the Country Manageress informed the Protocol Officer of the Sri Lankan High Commission of the inability to send the particular parcel on board, as it was illegal to send such unaccompanied baggage because it was not a diplomatic bag. She pointed out that if the parcel was detected, it would constitute a serious security violation and might even be widely publicised, adversely affecting the goodwill of SLA.

Despite the objections raised, the Protocol Officer insisted that the parcel be sent to Colombo, which led the Country Manageress to inform Chairman Wickremasinghe and stop the parcel from being sent. During the investigation, when questioned about this incident, Wickremasinghe told the BoI that he could remember having such a telephone conversation with the Country Manageress but could not recall the subject of the discussion.

According to the BoI report, following this incident on 24 May 2012, the Country Manageress was summoned to Colombo together with the Sales Manager. They met Jayaseelan, the then Head of Marketing, where she was informed that she had been recalled from London on the orders of the President and had been transferred to Hong Kong to complete the remaining period of her contract.

Dubious contracts

The BoI has also observed in Chapter 5, Section 1 (Pages 72 to 75) that the release of cabin crew member Nithya Samaranayake to the Presidential Secretariat was a misuse of power by the top management and government officials.

By a letter dated 2 June 2010 to the then CEO, Lalith Weeratunga, the then Secretary to President Mahinda Rajapaksa, stated that Nithya Samaranayake, a Senior Cabin Crew member, had been identified for an assignment at the Presidential Secretariat as a Special Projects Coordinator for a salary of Rs. 35,000 per month and other appropriate facilities, and requested that she be released immediately to assume her new duties.

On 23 June 2010, Samaranayake was appointed as the Special Projects Coordinator to the office of the Private Secretary to the President. The Private Secretary was none other than Namal Rajapaksa. Although Samaranayake was released from SLA, the airline continued to pay her basic salary, special premium, and tea allowance, apart from what she was paid by the Presidential Secretariat.

Hence, she received her full basic salary and half of her productivity payment from the airline, amounting to approximately Rs. 70,500 per month, in addition to a monthly remuneration of approximately Rs. 87,500 from the Presidential Secretariat. She received a total monthly remuneration of Rs. 158,000.

At the BoI, former Chairman Wickremasinghe stated that Samaranayake was released to work for Namal Rajapaksa, but that her release and the promotions granted to her were irregular.

It was revealed that Samaranayake was paid a fuel allowance of Rs. 22,680 per month and a separate transport allowance of Rs. 30,000 per month from Namal Rajapaksa’s office.

At the inquiry, Samaranayake stated that although she was paid Rs. 52,680 per month as transport costs, she used that money for personal purposes, as Namal Rajapaksa’s office provided common transport for her and the other staff.

Although she was appointed as a Special Projects Coordinator, she told the BoI that there was no identifiable special project to which she was attached and that she was released from SLA at the request of Namal Rajapaksa. According to her, she did not sign any attendance register during her tenure at Rajapaksa’s office and, although Lalith Weeratunga’s letter stated that she would be based at the Presidential Secretariat, her office was located at Temple Trees.

Samaranayake said she carried out political work for Namal Rajapaksa’s Tharunyata Hetak with the knowledge of Lalith Weeratunga and Nishantha Wickremasinghe.

Hence, the loss to the Government arising from this questionable remuneration for the ‘fake’ post, under Financial Regulation 102, amounts to Rs. 4.284 million.

As per the recommendations of the BoI, the payments made to her during this period should be recovered jointly from Samaranayake, Lalith Weeratunga, and all those who approved the unlawful payments, and a criminal investigation should be considered into the fraudulent payments and offences against public property.

Chapter 5, Section 3 (Page 81) of the BoI report states that Rakna Arakshaka Lanka (RAL) Ltd., owned by Nissanka Senadhipathi, was offered the contract to provide security to SLA and SriLankan Cargo without any evaluation of its capabilities or experience in handling aviation security.

The BoI report dated 30 March 2015 states that there was no material to establish that there was a necessity to hand over the security of SLA and the Cargo Division to RAL. The report further states: ‘It appears clearly that it is an unsolicited proposal and there was no transparent selection process in selecting RAL. Within a very short period, on 20 August 2012, SLA signed an agreement with RAL for a two-year period and thereafter extended it until 19 August 2016, though there were no documents to suggest that RAL had any aviation security experience.’

The report further states that when different levels of security staff were questioned to ascertain their views and actual experience regarding the quality of RAL’s security personnel, there was no clear evidence that RAL security guards possessed any experience in aviation security. According to SLA staff, senior management did not consider the difference between aviation security and guard duty when deciding the suitability of RAL to provide security to SLA and the Cargo Division. It is alleged that RAL was offered the security contract on the instructions of a very senior Government official at the time.

Xiaomi Sri Lanka, in partnership with Abans, has opened the country’s first official Xiaomi Exclusive Store at One Galle Face Mall, Lower Ground, giving Sri Lankan consumers a dedicated destination to experience the full Xiaomi ecosystem in one place. The opening was also marked by the launch of the Xiaomi 17T, the first smartphone to be officially launched at this new store.

For Xiaomi fans in Sri Lanka, this is a long-awaited moment. Over the years, Xiaomi has built a strong following among users who value smart technology, useful features and accessible pricing. Until now, that fan base did not have an official space to experience the brand properly. The new Xiaomi Exclusive Store changes that by giving customers a place to explore, compare and understand Xiaomi products before making a purchase.

The store brings together a wide range of Xiaomi products, including smartphones, smart TVs, wearables, audio products, air purifiers, power banks, smart blenders, robot vacuum cleaners and other smart home devices. Instead of seeing these products separately, customers can now experience how they fit together as part of one connected Xiaomi lifestyle.

This is especially important for Sri Lankan consumers who are becoming more careful and practical with their spending. Xiaomi’s ecosystem shows that smart living does not have to feel expensive, complicated or out of reach. Whether it is a smart blender for the kitchen, a robot vacuum cleaner for easier home cleaning, a wearable for everyday wellness, or a smart TV for family entertainment, the store allows customers to see how Xiaomi products can support real daily needs at accessible value.

The store is more than a retail outlet. It is an experience space where customers can see, touch and test products firsthand. This makes the Xiaomi ecosystem easier to understand, especially for customers who may have only known Xiaomi through smartphones before. For new users, it becomes a simple way to discover how Xiaomi can fit into their homes, routines and lifestyles.

The partnership with Abans adds trust and reliability to this experience. As a well-known retail name in Sri Lanka, Abans brings local service support, product guidance and customer confidence to every Xiaomi purchase made through the official store.

The Xiaomi Exclusive Store at One Galle Face Mall, Lower Ground is now open, giving customers a permanent destination to explore Xiaomi’s smart ecosystem and experience smarter living in one place.

Can the light of wisdom be boxed into a cardboard decoration?

Can enlightenment or wisdom be vandalised?

Can foolishness and delusion also be boxed in a cardboard decoration and hung with much fanfare for all to see?

How many flags does it take for a nation or person/s to be ‘Buddhist’?

How many sermons or chants does it take for a human to transit from listening to practicing wisdom?

The purpose of this article is to get us all to think upon the gap between the actuality, the hypocrisy and the ensuing suffering (dukkha).

On 1 May around 2,000 Sri Lankans, mostly from the upper and middle class of Colombo flocked to the BMICH in Colombo. They were there as early as 6am demurely well dressed in white and wearing also their calmest visage. What brought them there was a full day of Dhamma interaction with Ajahn Brahmali Thero, the Norwegian born, former Engineering and Finance graduate; a Buddhist monk of international stature. He had taken to monastic life around four decades ago leaving aside a family legacy of significant wealth and ‘lucrative’ professional choices.

This article captures and introspects the depth of segments of his teachings in Colombo that we have not featured before.

We have already covered the broad aspects of his sermons and exclusive interviews in this page and the Daily FT main pages. We today delve into certain statements not yet reported. We extracted these to save them from being lost in the throes of mere ‘sermon listening.’

Spiritual success

As we write, the colourful Vesak lanterns and bulbs have flickered out. The thousands of Buddhist flags flying from every rooftop are hoisted down. And the white clothing taken out on Poya days (and the nicer ones for Vesak) folded and placed in wardrobes.

Now let us in this month of June begin with Ajahn Brahmali Thero answering a question relating to exam stress of youth. When this issue was brought up he nonchalantly asked parents and youth to treat any possible failure in academic life as a boon to cultivate success in another dimension; the spiritual one.

He queried as to why instead of craving for the intense pressure that ‘prestigious’ jobs bring after high anxiety driven ‘education,’ catering to the job ‘market,’ why not treat ‘weakness’ in exam taking, as an opportunity to tread a differing path. One that brings freedom, happiness and time for pursuing knowledge that is not for the job ‘market’; but knowledge associated with the highest levels of insight such as knowing one’s own mind, as taught by the Buddha.

Having said this as cited above and also in differing ways, it was clear that this highly erudite former scholar, engineer and finance degree holder (who never speaks of his academic credentials) thought nothing of these ‘qualifications.’ He had chosen a more challenging path; the one of absolute knowing, going into battle and conquering the self, rather than narrow cocoons of modern ‘education.’

This writer seated amidst the white coloured sea of humans could not help glancing at many a middle aged face of possible parents of school going youth as Brahmali Thero shrugged off their dilemma.

The focus on youth suicides and stress arose as a result of a question posed to Brahmali Thero by some youth following his sermon online. His explanation, at times in mild humor and at times in seriousness, showed that there was an option. That these youth could be directed to a different reality as followed by the Buddha. That they need not necessarily become monks but be humans who create time for the honing of their spirituality. And with this expansive relief given to the mind, provide themselves the opportunity to maximise their own creative intelligence to design paths of earning income in ways where they can exercise their unique abilities, creativity and wisdom. This would mean the creation of a human psyche that is not dictated to by institutions that measure intelligence through rigid exam taking.

But profound advice like this and many other teachings by Brahmali Thero, including the call to think of each moment as one which hides death, could easily slip our mental grasp. We could descend quite fast from sermon listening to wisdom ignoring as we return to our homes.

How many of us would have ruminated further when we got back home? How many of us listening to the sermon and views by Ajahn Brahmali Thero would have honestly considered the path less travelled: the path of deep insight?

If we did, would it matter that our son or daughter ‘fail’ to fill the vacuum of our own desire; to have offspring (that we could boast to the world) as a ‘doctor,’ ‘engineer’ or ‘academic’ graduate? Do we question whether we want these desires fulfilled through our children for the greater selfless good it could bring to the world or for the fickle social position we crave for? Would we then become aware that we are using our children as pawns of our own un-awakened hankering? Would we recognise that this is the opposite of genuine love? Could we then comprehend that coercing, influencing, forcing children towards life paths they have no interest in (or instilling in them an exam based inferiority complex) is just a hybrid form of delusion soaked attachment? Would we become aware that this attachment is diluted in fear? That what motivates us to treat our children as robots of exam victory or failure is the fear of ourselves being seen by society as failures – where we become parasites, gnawing at our children’s equanimity. If we pondered in this manner after returning home from listening to Ajahn Brahmali Thero we could see that exam stress is something we project onto children with the values and world view we have brainwashed them with. We could also become aware that this unrefined mental state of ours has nothing at all to do with a pragmatic, wholesome, holistic and happy approach to life which is the Buddhist path.

Culture and wisdom

Let us now look at ‘culture’ and the juxtaposition with ‘wisdom’ that is a prerequisite of the science of Buddhism. Asked about the relevance of rituals as part of culture and tradition in connection to Buddhism Brahmali Thero was somewhat non- committal stating that some rituals to ‘some extent’ could help and too much may not help. It could be seen in many individuals in the Western world who take up the Buddhist life, do so without the distraction and burden of rituals which are hand me downs of cultural practices of the land.

So, could we say that rituals as part of culture and tradition harm or benefit wisdom and insight? The answer could lie as to how we use these practices and to what end; whether or not we engage in these rituals to support and enhance the state of harmony, loving kindness and equanimity within ourselves and others.

Now let us consider the aspect of gender in a backdrop of various statements being made on the Karmic ‘misfortune’ of being born a woman. It was very interesting that Brahmali Thero, although of course using his unique humour, quipped that he loves Sri Lanka so much that it is possible that he was a monk in previous lifetimes in this nation. He then corrected himself and said that it is more likely that he was a Buddhist nun in past lives in Sri Lanka. The ease with which he said this showed that he did not consider a particular gender as superior or inferior. He took the flow of samsara where humans emerge in differing bodies, across the boundaries of gender, caste and creed, lifetime after lifetime as per the Buddhist and Hindu view, as an unavoidable truth.

There may have been other monks in this world who have stated that they may have been nuns in past lives but this is the first time this writer heard it on a public platform.

What exactly can we learn from this wisdom? We can learn that gender is just a fraction of the whole – if there were only men in this world – say as a result of their great ‘virtue,’ then there would be no women, which of course would eventually result in there being no men! Therefore, what we gathered at the sermon of Ajahn Brahmali Thero is the space to think out wisdom and root out abject stupidity that could parade as truth. The Ajahn Brahm Society of Sri Lanka spends an enormous amount of effort facilitating such visits of dedicated monks. It is up to us Sri Lankans to prevent these initiatives from going to waste. These are not social events. These are moments that define whether we transform from machine-like consumers of ‘preachings’ to actually living out the wisdom.

One of Sri Lanka›s oldest and most respected schools rugby rivalries will be rekindled this weekend when Trinity College, Kandy, and Zahira College, Colombo, lock horns in a fixture steeped in more than a century of tradition.

Trinity first played Royal College in rugby in 1920, while the Bradby Shield encounter was inaugurated in 1945.

A rivalry born in 1924

The rivalry between Trinity and Zahira traces its roots to 1924, another landmark year in Sri Lanka schools rugby. It was in that year that Zahira College introduced rugby and faced Trinity College in its inaugural inter-schools rugby fixture. More than a century later, the contest remains a significant chapter in the rich history of Sri Lankan schools rugby.

When Zahira entered the rugby arena in 1924, Trinity College was already established as one of the country’s premier rugby-playing schools. Their first meeting marked the beginning of a rivalry that would produce memorable contests and several historic milestones.

From 1924 to 1931, Trinity dominated the fixture.

Perhaps the most significant milestone came in 1932 for Zahira, when Zahira became the first school ever to defeat Trinity in rugby, securing a famous 6-3 victory. The triumph remains one of the most celebrated achievements in Zahira’s sporting history.

During the pre-World War II era, Zahira proved to be a formidable opponent, recording victories over Trinity in 1932, 1936, 1938 and 1940. These successes helped establish Zahira as one of the leading rugby powers of the time.

Golden years and interrupted traditions

Following the interruption caused by World War II, Zahira’s rugby fortunes fluctuated before a strong revival in the late 1950s and 1960s. The Green and Gold outfit fielded several outstanding teams and enjoyed fierce contests with Trinity, including during their successful 1962 campaign.

However, a major setback came in 1974 when Zahira suspended its rugby programme. As a result, the annual fixture between the two schools disappeared from the schools rugby calendar for many years.

Since rugby’s return to Zahira, meetings between the traditional rivals have become less frequent, often taking place in league competitions and knockout tournaments rather than as a permanent annual fixture. Nevertheless, every encounter continues to generate considerable interest among rugby enthusiasts.

Recent meetings

One of their most notable recent clashes came in the President’s Trophy Knockout Tournament, where Trinity emerged victorious 32-23 to advance to the semi-finals after a hard-fought contest.

The significance of that victory is heightened by the fact that this current Trinity outfit has so many outstanding performers out of whom three school boys could be singled out as great readers of the game in the form of Althaf, Wijekoon and Abdul Malik, whose contributions have helped shape a Trinity side that has appeared almost invincible at times. (The omission of Abdul Malik in a previous article is sincerely acknowledged and regretted.)

Despite Trinity enjoying greater success in recent decades, Zahira has consistently demonstrated its ability to challenge the country’s leading rugby-playing schools, often overcoming opponents with greater rugby credentials.

Teams arrive in fine form

This year’s clash promises to add another exciting chapter to the rivalry, with both schools entering the match in impressive form.

Zahira has been one of the surprise packages of the current schools rugby season. The Green and Gold outfit produced a stunning 38-34 victory over St. Peter’s College, ending the Peterites’ unbeaten run, before following it up with another impressive 38-24 win over Wesley College.

Meanwhile, Trinity has once again showcased the attacking rugby that has made them perennial contenders. The Lions have recorded several dominant performances this season, highlighted by a commanding 48-15 victory over Royal College. The performance of this Trinity side has been remarkable and does not need any more accolades in this article as a prelude for the Zahira game.

More than just a match

While league points and standings are important, this weekend’s contest represents far more than a regular schools rugby fixture. It is a celebration of a rivalry that began more than a century ago and has survived wars, interruptions and changing eras.

For Trinity, it is another opportunity to uphold a proud rugby tradition.

For Zahira, it is a chance to add another memorable chapter to a history that includes one of the most famous upsets in Sri Lanka schools rugby.

When the two teams take the field this weekend, they will not only be competing for victory but also honouring a rivalry that has helped shape the story of school rugby in Sri Lanka for over 100 years.

The Rescue, Rehabilitation and Insolvency (Corporate and Personal) Bill has officially become law, with Speaker of Parliament Dr. Jagath Wickramaratne this week endorsing the certificate on the legislation.

The Bill was first read in Parliament on 17 March 2026 and was subsequently passed by Parliament following a debate held on 6 May 2026.

The Act provides for the amendment of the Rescue, Rehabilitation and Insolvency (Corporate and Personal) Act, the Companies Act, No. 7 of 2007, the Inland Revenue Act, No. 24 of 2017, and the Mediation Boards Act, No. 72 of 1988, while repealing the Insolvency Ordinance (Chapter 97).

The Act introduces specific procedures relating to personal insolvency, including provisions for debt protection, moratoria, and debt restructuring, while ensuring the protection of a debtor’s reasonable income and essential assets.

In addition, the legislation addresses matters relating to corporate governance, receivership, and cross-border insolvency, with a view to enhancing predictability and confidence in the credit market.

The Act is also intended to provide a fresh start for honest individual debtors and establish a structured mechanism for the rehabilitation of distressed but fundamentally viable companies.

Accordingly, the Rescue, Rehabilitation and Insolvency (Corporate and Personal) Bill shall come into force as the Rescue, Rehabilitation and Insolvency (Corporate and Personal) Act, No. 12 of 2026.

The Sri Lanka Association of Airline Representatives (SLAAR) held its 33rd Annual General Meeting at The Kingsbury, Colombo on 17 June, bringing together members, past presidents and key industry stakeholders to review the past year’s progress and chart the path forward for the aviation sector.

The meeting was presided over by Chief Guest Civil Aviation Authority of Sri Lanka (CAASL) Director General Captain Daminda Rambukwella who stressed the importance of sustained collaboration between industry players and regulators, calling on stakeholders to accelerate efforts to establish Sri Lanka as a regionally competitive aviation hub.

Newly appointed Chairperson Sudeshinie Jayawardena, in her inaugural address to the membership, urged unity and steadfast commitment to the industry, highlighting the role of collective effort in driving the resilience and continued growth of Sri Lanka’s aviation landscape.

The AGM served as a platform to assess SLAAR’s contributions over the past year, with focus on advancing industry dialogue, strengthening operational coordination and supporting broader sectoral development.

Abans Finance PLC has reported another year of exceptional financial performance for the year ended 31 March 2026, reinforcing its position as one of Sri Lanka’s fastest-growing non-banking financial institutions. The Company delivered strong growth across all key financial indicators, driven by portfolio expansion, operational efficiency, and prudent risk management.

Total income increased to Rs. 4.67 billion, compared to Rs. 3.46 billion in the previous financial year, representing a growth of approximately 35%. Interest income rose to Rs. 4.21 billion from Rs. 3.03 billion, supported by significant growth in lending activities and expansion of the Company’s earning asset base. Net interest income grew by 47% to Rs. 3.07 billion, compared to Rs. 2.09 billion in the previous year, while total operating income increased to Rs. 3.47 billion from Rs. 2.48 billion. Net operating income reached Rs. 3.19 billion, reflecting the Company’s continued focus on maintaining portfolio quality and enhancing operational performance. Operating profit before taxes on financial services increased to Rs. 1.68 billion, a substantial 77% growth from Rs. 951 million recorded in FY2024/25. Profit before taxation from operations rose to Rs. 1.28 billion, compared to Rs. 704 million in the previous year, while profit after tax reached Rs. 857 million, recording a remarkable 101% growth over the previous year’s profit of Rs. 426 million.

The Company’s balance sheet strengthened significantly during the year. Total assets expanded to Rs. 20.81 billion, representing a growth of 54% from Rs. 13.48 billion recorded a year earlier. The lending portfolio continued its strong momentum, with loans and advances increasing to Rs. 14.65 billion. Customer deposits grew to Rs. 11.04 billion, compared to Rs. 8.45 billion in the previous year, demonstrating growing customer confidence in Abans Finance’s financial strength and service excellence. Shareholders’ funds increased to Rs. 4.16 billion from Rs. 3.50 billion, while retained earnings grew to Rs. 2.40 billion, further strengthening the Company’s capital position and supporting future growth initiatives.

Commenting on the results, Chief Executive Officer Nirosh Madawala stated: ‘The financial year 2025/26 marks a historic milestone for Abans Finance as we celebrate 20 years of growth and achievement. Delivering our strongest-ever financial performance is a testament to the confidence our customers place in us, the commitment of our employees, and the strategic direction we have pursued over the years. A key pillar of our success is the strength of the Abans Group. As part of one of Sri Lanka’s largest and most diversified business groups, we benefit from a powerful ecosystem built on decades of business leadership, financial stability, market reach, and trusted relationships. The Group’s extensive presence across multiple industries provides us with unique advantages, enabling us to scale confidently, strengthen our capabilities, and create greater value for customers and stakeholders. This strong foundation allows us to pursue growth with confidence while maintaining sound governance, prudent risk management, and a long-term vision for sustainable success.’ He further emphasised that the Company’s success has been built upon a carefully balanced strategy of sustainable growth, prudent risk management, portfolio diversification, digital transformation, and customer-centric innovation.

The Company continued to strengthen its market position during the year by expanding its lending footprint across multiple sectors and regions while maintaining healthy liquidity and strong asset quality. Strategic investments in technology, process improvements, and customer experience initiatives further enhanced operational effectiveness and service delivery. Abans Finance’s investment-grade rating of A-(lka) with a Stable Outlook from Fitch Ratings Lanka Ltd., reflects the Company’s strong financial profile, prudent governance standards, and resilient business model. Looking ahead, Abans Finance is entering a new era of growth with a clear vision of becoming one of Sri Lanka’s most admired and trusted financial institutions. The Company plans to accelerate expansion across retail and business financing, deepen digital capabilities, broaden financial inclusion, and deliver innovative financial solutions that empower individuals, entrepreneurs, and businesses to achieve their aspirations. As Abans Finance commemorates twenty years of excellence, the Company remains firmly committed to creating sustainable value for customers, employees, shareholders, and the wider community while building on a proud legacy of trust, stability, innovation, and financial leadership. With record profitability, a strengthened balance sheet, growing market presence, and the enduring support of the Abans Group, Abans Finance is exceptionally positioned to capture the opportunities of the future and continue its journey of transformative growth.