Category: Daily Financial Times

The Sri Lanka – France Business Council of The Ceylon Chamber of Commerce concluded its 22nd Annual General Meeting recently at the Galle Face Hotel, Colombo.

The Annual General Meeting, followed by a cocktail reception, brought together members, government representatives, members of the diplomatic corps, business leaders and council members. Ambassador of France to Sri Lanka and the Maldives Rémi Lambert, graced the occasion as the Chief Guest, while officials from the Embassy of Sri Lanka in France joined the proceedings virtually.

The meeting marked the appointment of a new leadership team to steer the Council’s activities for the year ahead. Shaameel Mohideen of Spillburg Holdings was elected President, with Zafir Hashim of John Keells Holdings PLC elected Senior Vice President, Husni Salieh of Noyon Lanka Ltd., elected Vice President and Manura Wickramasinghe of Puritas Ltd., elected Treasurer.

Representatives from A. Baur and Co. Ltd., Aitken Spence Travels, CEVA Logistics Lanka Ltd., Diesel and Motor Engineering PLC and Universal Travel Bureau Ltd., were elected to serve on the Committee.

In recognition of their longstanding contributions to the Council, Past Presidents Senake Amerasinghe, Dilipan Tyagarajah and Dr. Asanka Ratnayake were appointed as Honorary Members. A Subcommittee comprising representatives from International Distillers Ltd, Jayantha Premachandra Foundation, Maliban Healthcare Ltd., Marlbo Trading Company, Propylon One Ltd., and Web Lankan.com Ltd., was also appointed to support the Council’s activities.

In his address, Ambassador Lambert reaffirmed the strong and longstanding relationship between France and Sri Lanka while highlighting the considerable opportunities for expanding bilateral trade and investment. He noted that French investors continue to face challenges relating to market access and cumbersome administrative procedures, emphasising that addressing these barriers would be critical to unlocking greater French investment. He observed that the Council’s priorities for the year ahead closely align with these objectives and would play an important role in strengthening the bilateral economic partnership.

Reflecting on the Council’s achievements over the past year, outgoing President André Fernando of MAC Holdings highlighted several significant initiatives undertaken during his tenure. These included strengthening engagement with key French trade and investment promotion organisations such as the Indo-French Chamber of Commerce and Industry and Business France, while creating new opportunities for collaboration between the business communities of the two countries. He also reflected on the Council’s flagship Annual Wine Evening, which reached new heights in 2025 with the participation of renowned French rugby legend Serge Betsen, further elevating one of the Council’s signature networking events.

Addressing the membership following his election, President Shaameel Mohideen outlined an ambitious five-point agenda that will guide the Council’s work during the coming year. The strategy focuses on strengthening bilateral trade and improving market access, promoting greater French investment into Sri Lanka, supporting sustainability and innovation across industries, expanding tourism and cultural engagement between the two countries, and delivering greater value to members through meaningful networking opportunities, business engagements and advocacy initiatives.

As the Council embarks on a new chapter under its newly elected leadership, it remains committed to further strengthening commercial and economic ties between Sri Lanka and France by facilitating business partnerships, encouraging investment, promoting knowledge exchange and providing a vibrant platform for engagement between the public and private sectors of both countries.

Japan has confirmed that construction of the long-delayed second passenger terminal at Bandaranaike International Airport (BIA) will commence before November this year, following the revival of the project with Japanese assistance.

The confirmation was given during discussions between Ports, Civil Aviation and Energy Minister Anura Karunathilaka and a Japan International Cooperation Agency (JICA) delegation led by Senior Vice President Hara Shohei and Chief Representative Honzu Shigeo.

The Ministry said the project, which was initiated earlier but subsequently halted, was revived following discussions between President Anura Kumara Dissanayake and the Japanese Government.

Several rounds of discussions were subsequently held between the Ministry, the Japanese Ambassador to Sri Lanka and JICA officials. Following Japan’s decision to provide the additional loan facility required for the project, related arrangements have been completed, while discussions with the selected construction company are at the final stage.

Minister Karunathilaka stressed the need to expedite Terminal 2, saying the Government was working to create conditions to attract more tourists and investors to Sri Lanka.

The discussions also covered obtaining assistance to establish a Vessel Traffic Management System to manage increasing ship movements at the Port of Colombo. The proposal will be submitted through the Department of External Resources.

GALLE: Sporadic showers of rain that disrupted the preparations of the Sri Lankan and Indian teams ahead of today’s first Test at the Galle International Cricket Stadium is expected to continue throughout the five days of the match.

Heavy showers and strong winds followed by hot sunshine and bright blue skies were a feature yesterday as the ground staff battled with the weather to cover the entire ground to ensure that minimum playing time is lost.

Over the next five days the Test is heading for a stop-start affair. A winning result is imperative for both teams as they strive to qualify for a place in the World Test Championship final. There is not much of a difference between the two teams in the WTC standings – India are lying fifth with a percentage of 48.15 and Sri Lanka sixth with 41.67. There is a long way to go for both teams to catch up with the top three nations currently in the standings – Australia (87.50), South Africa (75.00) and New Zealand (72.22).

The Test marks a special occasion for Galle as well as for India. Galle will become the first venue in Asia to host 50 Test matches and India will be playing their 600th Test since making their debut in 1932.

Sri Lanka Captain Dhananjaya de Silva who has spent his school days at this venue said, ‘It’s a big occasion for Galle. We have had a lot of success here and personally for me, I grew up playing my cricket here. This will be a different pitch from the usual Galle surfaces that we get.’

‘I feel this pitch will help the batters a lot, although the rain around has prevented the ground staff from putting in their best effort. We should get good batting conditions.’

Injuries have forced Sri Lanka to make changes to their side, notably in the wicket-keeping position where the recall of Niroshan Dickwella has sparked off some debate over his selection. He comes in place of Kusal Mendis who has been ruled out of the series with a hamstring injury.

Dickwella has not done anything noticeable with the bat in domestic cricket to earn a recall, but De Silva defended his selection saying, ‘Galle is a tough place to keep wickets and we have to get our best wicket-keeper on board. Having spoken to the selectors and head coach, we feel that Dickwella is the right choice.’

One hopes that Dickwella who is returning to Test cricket after a three-year absence makes full use of this opportunity to try and score his maiden Test century which has eluded him in 96 Test innings.

Sri Lanka’s other concern is an off-spin partner to their left-arm spinner Prabath Jayasuriya. Ramesh Mendis and uncapped Keshara Nuwantha have been named in the squad. Mendis has been given several opportunities but has failed to grab them and become a permanent fixture in the side.

The Lankan Captain hinted that Nuwantha could be in line for a Test debut.

‘He is young and very promising. He has consistency with his line and length and looks a good prospect. He will be a good investment for the future,’ said De Silva.

Indian Captain Shubman Gill said that leading his country in their 600th Test was a ‘huge honour’.

‘It’s a big honour and privilege for me to captain India in any Test match. Captaining India in our 600th Test is a huge honour and doing it on India’s Independence Day makes it even more special,’ said Gill.

‘Our main goal is to play in the World Test Championship final next year and if we win six or seven games out of the next nine, we have a good chance. To get there, winning this series is very important and that’s what everyone is focusing on,’ he said.

India too has been forced to make changes due to injury. They are without their main spearhead Jasprit Bumrah, which means a heavy responsibility lies on Mohammed Siraj’s shoulders. He is most likely to be partnered by Prasidh Krishna whom Gill said is bowling at his best.

In the batting, an injury to their number three bat Sai Sudarshan has forced Devdutt Padikkal to take his place.

‘We have players with immense potential and skill. We want them to succeed, but players are going to develop at their own pace,’ said Gill. ‘When I came into the side, I struggled with consistency as well, but they persevered with me. Some players require more time and we are ready to back them.’

The 2026 Ruhunu Maha Kataragama Devalaya Esala Perahera, one of Sri Lanka’s most revered annual religious festivals, concluded on a high note – not only spiritually, but environmentally. This year marked a significant milestone in the nation’s sustainability journey, with Cleantech Ltd., serving as the Official Recyclable Waste Management Partner, in collaboration with the Central Environmental Authority (CEA) and the Elephant House Gunadamin Program. The initiative was launched under the CEA’s five-year ‘Polythene/Plastic Free Sacred Zone – 2030’ program, which aims to transform the Kataragama sacred city, temple precinct, and Menik Ganga area into a plastic-free zone by 2030 – minimising plastic waste generated throughout the year, particularly during the pilgrimage season, when hundreds of thousands of devotees visit Kataragama.

From 14 to 30 July, 2026, Cleantech deployed a dedicated waste management team that continuously collected, segregated, and recovered recyclable materials throughout the festival, with operations timed to coincide with key rituals and events. In the lead-up to the festival, the team distributed reusable eco-friendly bags to pilgrims arriving via the Padayathra route to encourage a reduction in single-use plastic. This on-ground effort was reinforced by three coordinated cleanup drives: a large-scale campaign on July 22 in Sellakatharagama, conducted with Government institutions, community organisations, volunteers and the private sector, drawing around 150 participants from the CEA, the Clean Sri Lanka Program, Cleantech, the Elephant House Gunadamin Program, the Department of Civil Security, the Youth Corps, the District and Divisional Secretariats, and the Kataragama Pradeshiya Sabha; a second cleanup during the grand Ruhunu Maha Kataragama Perahera on July 29, drawing around 200 participants including school students and community volunteers alongside the core partner organisations; and a final post-event cleanup and resource recovery operation on July 30.

The results were substantial. Approximately 6 metric tonnes of PET plastic bottles were collected and directed into Cleantech’s PET recycling plant – waste that would otherwise have threatened some of Sri Lanka’s most ecologically sensitive ecosystems, including the Menik Ganga, surrounding forest reserves, wildlife corridors connected to Yala National Park, and downstream freshwater and coastal environments. Compared with manufacturing an equivalent quantity of virgin PET resin, this recovery effort is estimated to have avoided approximately 9-15 MT of CO2 emissions, conserved 9-10 metric tonnes of petroleum-based raw materials, and saved 90,000-120,000 MJ of energy – meaningfully reducing the festival’s environmental footprint while keeping thousands of PET bottles out of the Menik Ganga watershed and surrounding habitats.

As Sri Lanka continues its march towards the ‘Polythene/Plastic Free Sacred Zone – 2030’ goal, this year’s initiative at the Kataragama Esala Perahera stands as a shining example of what can be achieved when the state sector, private sector partners, and communities unite for a common cause.

Sri Lanka’s hopes of regaining the Asian Netball Championship title came crashing down in Hong Kong as Singapore produced a commanding all-round performance to defeat them 82-54 in the first semi-final of the 14th Asian Netball Championship.

The result was even more disappointing for Sri Lanka because it represented a significant improvement in Singapore’s dominance compared with their earlier group-stage meeting. Singapore had beaten Sri Lanka 67-51 in that encounter, but this time extended the winning margin to 28 goals. The official tournament schedule confirms Singapore’s progression to the semi-final after a strong Cup Division campaign.

The difference between the two sides was not simply the final score. It was also evident in their contrasting playing styles, particularly in the way Singapore controlled possession, moved the ball and maintained pressure across all four quarters.

Singapore played with greater structure and discipline. Their attack was based on quick ball movement, intelligent positioning and patient build-up before feeding the shooting circle. Rather than relying exclusively on individual brilliance, they repeatedly created passing options and shifted the ball until an opening appeared.

Their movement away from the ball was equally important. Singaporean players continually looked to create space, making it difficult for Sri Lanka’s defenders to settle into a comfortable defensive rhythm. Their passing was generally crisp and purposeful, allowing them to transition quickly from the centre third into the attacking third.

Sri Lanka, in contrast, appeared more dependent on building attacks through a smaller number of key attacking options. When Singapore increased the defensive pressure, Sri Lanka struggled to maintain the same fluency and rhythm. Their attacking combinations became less consistent, while Singapore were able to turn defensive pressure into attacking opportunities.

The first quarter illustrated the difference. Singapore opened with a 20-11 advantage, immediately establishing a tempo that Sri Lanka could not match.

Sri Lanka attempted to respond through direct attacking play, but Singapore’s defensive unit worked aggressively to disrupt the passing lanes. Their ability to pressure the ball carrier while simultaneously covering potential receiving options prevented Sri Lanka from developing sustained attacking phases.

The second quarter followed a similar pattern. Singapore added 19 goals to Sri Lanka’s 14, taking a 39-25 lead into half-time.

One of Singapore’s biggest strengths was their ability to change the point of attack. Instead of repeatedly forcing the ball into the circle, they moved possession laterally and waited for defensive gaps to appear. That patience contrasted with Sri Lanka’s more direct approach, which became increasingly predictable as the match progressed.

After half-time, Singapore shifted into another gear.

The third quarter was effectively decisive. Singapore scored 24 goals while Sri Lanka managed 15, opening a 23-goal advantage at 63-40. Their attacking movement became increasingly difficult to contain, while their defensive pressure continued to force Sri Lanka into hurried passes and lost possession.

The final quarter produced another 19-14 advantage for Singapore, completing an emphatic 82-54 victory.

Singapore’s performance also reflected a style that has become increasingly familiar in major Asian netball encounters. They have previously demonstrated their ability to combine discipline, patience and tactical flexibility against Sri Lanka. In the 2024 Asian Championship final, Singapore defeated Sri Lanka 67-64 after extra time, with their composure and tactical adjustments proving decisive.

For Sri Lanka, the challenge was not a lack of effort but the inability to sustain their preferred style under sustained pressure. Their traditional strengths in ball control, physical contest and circle shooting were not enough when Singapore denied them the space and time required to build attacks.

The 82-54 scoreline therefore tells only part of the story. Singapore won because they dictated the pace, controlled the flow of possession and maintained their tactical discipline for the full 60 minutes.

For Sri Lanka, the defeat ends another campaign without the Asian crown. More importantly, it provides a clear indication of the areas that must be addressed if they are to challenge Singapore again: faster transition play, greater attacking variety, stronger defensive pressure and, above all, the ability to remain composed when opponents dictate the tempo.

Singapore, meanwhile, showed why they remain one of Asia’s leading netball nations. Their 28-goal semi-final victory was not simply a win on the scoreboard-it was a demonstration of tactical control, consistency and superior execution when it mattered most.

Each year Thenuwara exhibits a new body of work that documents and comments on the sociopolitical climate of present-day Sri Lanka. Encapsulated in the current presentations is Thenuwara’s ongoing inquiry into themes that are deeply rooted in his political activism. With an emphasis on gender-based and sexual violence, this year, the exhibition interrogates the hypocrisy of moral righteousness and the inadequacies of legislative frameworks that continue to perpetuate discrimination and systemic injustice. It continues the artist’s sustained engagement with Sri Lanka’s sociopolitical landscape, while underscoring the urgent need for accountability and meaningful political action.

In his artist statement Thenuwara notes, ‘Criminalising people based on sexual orientation is a violation of human rights, and despite progressive court rulings, outdated colonial-era laws are still used to target women, sex workers and transgender individuals. Sex workers face systemic police violence, including arbitrary arrests, sexual bribery and extortion. Social stigma creates barriers, and many fear further discrimination when seeking help. While lawmakers have worked hard for the good of humanity, these forward-thinking proposals are yet to be approved. As a result, the struggle for change continues to face setbacks.’

Parallel to the solo exhibition at Saskia Fernando Gallery, Chandraguptha Thenuwara will present his annual curated exhibition, ‘Visual Persuasions 3.0’. Spread across two venues, the J.D.A. Perera Gallery and the Harold Peiris Gallery, the exhibition brings together twenty-four artists whose practices address social, political, environmental, and cultural issues. Working across a diverse range of media, including digital prints, ceramics, painting, sculpture, and immersive installations the exhibition becomes a space to create social awareness and engage in critical dialogue. In addition to this, Thenuwara will also present the inaugural edition of ‘Here and There’, a new series which brings together creative voices of artists living outside Sri Lanka. Informed by urgent regional and global concerns, the exhibition aims to highlight the July 1983 pogrom and its lasting impact on today’s social, political, and cultural landscape.

Thenuwara is renowned for an interdisciplinary practice that explores the politics of memory and violence. Thenuwara’s diverse oeuvre includes painting, drawings, installations, sculpture, public monuments, lectures, and curatorial and collaborative projects. He is the founder of the Vibhavi Academy of Fine Arts (VAFA), an artist-run school nurturing the burgeoning Sri Lankan contemporary art scene. His work has been featured in notable exhibitions, including most recently at Grosvenor Gallery, London (2025); KALA, Colombo (2025); and Museum of Modern and Contemporary Art, Colombo (2024). His works belong in institutional collections at the Los Angeles County Museum of Art (LACMA), Los Angeles, The Fukuoka Asian Art Museum in Japan, Fukuoka and The Queensland Art Gallery, Brisbane.

The Finance, Planning and Economic Development Ministry this week named India’s Chalet Hotels Ltd., and Juniper Hotels Ltd., among the five pre-qualified bidders.

The other shortlisted parties are a consortium comprising Phoenix Ventures Ltd., and Bluestone Capital Ltd., Ceylon Steel Corporation Ltd., and a consortium comprising EML Consultants PLC and Italy’s Kimetal S.r.L.

Canwill Holdings is the parent company of Sinolanka Hotels and Spa Ltd., and Helanco Hotels and Spa Ltd.

The Government, through the Finance Ministry, issued the Request for Expression of Interest (REOI) on 24 December 2025 for the proposed divestiture of its stake in Canwill.

Eight interested parties submitted responses by the 16 March deadline. Following the evaluation conducted under the REOI, five were designated as pre-qualified bidders and cleared to participate in the second-stage RFP process.

Canwill Holdings was incorporated in December 2011 as a fully State-owned enterprise (SOE) to invest in the hospitality and tourism sector, operating as a holding company for Sinolanka Hotels and Spa and Helanco Hotels and Spa.

Sinolanka was developing a 47-storey hotel and serviced apartment project in Colombo 3, comprising 458 hotel rooms and 100 serviced apartments built to Grand Hyatt specifications. The structure and façade were largely complete, with substantial capital expenditure incurred and most approvals in place. The project had been designated a Strategic Development Project, making it eligible for tax concessions during both construction and operations.

A 9.42-acre leasehold beachfront land in Hambantota held by Helanco Hotels and Spa has expired due to non-initiation of construction and the Government had said it does not commit to extending the lease.

The Colombo stocks market yesterday ended the week in green, extending its upward momentum to a third straight session on buoyant investor sentiment.

During the week, the ASPI gained 1.18% or 253.08 points and the S and P SL20 was up 1.29% or 77.56 points.

Yesterday, with 113 counters closing in green against 108 in red the ASPI ended up 0.39% or 84.17 points at 21,623.17 and the S and P SL20 was up 0.56% or 33.63 points at 6,065.72.

Market turnover was Rs. 2.24 billion on nearly 76 million shares traded. Foreign investors were net sellers on a net outflow of Rs. 696 million.

Positive contributors to the ASPI were MELS, SAMP, DIAL, NTB and CTC while negative contributions came from BREW, DFCC, RICH, LION and CSF.

First Capital Research said the bourse maintained its positive momentum supported by resilient 2Q 2026 corporate earnings and stable global oil prices.

Participation from HNW and retail investors remained moderate during the trading session. The retailing sector led the daily turnover with a share of 32%, followed by the food, beverage and tobacco, and banking sectors collectively contributing 32%.

The Cabinet of Ministers has approved the permanent appointment of H. C. P. Jayaweera as Director General of the Department of National Botanic Gardens.

She is a Grade I officer of the Sri Lanka Scientific Service, was initially appointed to the post on a full-time acting basis following Cabinet approval at its meeting held on 30 December 2024.

Jayaweera has continued to serve in the position since then and was promoted to the Special Grade of the Sri Lanka Scientific Service by the Public Service Commission with effect from 31 January 2026.

The proposal to this effect was submitted by the Environment Minister Dr. Dammika Patabendi.

Continuing its long-standing commitment to empowering future generations through education, Seylan Bank recently opened its 294th ‘Pahasara’ Library at Galgamuwa Maha Vidyalaya, Maharachchimulla, Narammala, marking another milestone in the Bank’s flagship social sustainability initiative.

The library was officially declared open in the presence of Assistant Director of Education – Giriulla Division N. D. R. Jayasuriya, Seylan Bank Regional Manager – North Western Region Upendra Adhikari, Galgamuwa Maha Vidyalaya Principal H. P. A. S. Jayathilaka, and Seylan Narammala Branch Manager T. D. Wijerathna alongside students, teachers, parents and other distinguished guests.

Seylan Bank Assistant General Manager – Marketing and Sales Asiri Abhayaratne said: ‘At Seylan Bank, we believe education is one of the most powerful investments we can make in the future of our nation. Through the ‘Pahasara’ initiative, we remain committed to creating learning environments that inspire young minds, broaden opportunities, and empower students with the knowledge and resources they need to succeed.’

As part of the initiative, Seylan Bank donated two laptop computers, a multimedia projector with a white screen, and books worth Rs. 100,000 to enrich the school’s library facilities and provide students with greater access to quality educational resources. The opening also formed part of ‘Pahasara Week’, which featured an Elle tournament, a Media Day program for students in Grade 9 and above, a financial literacy educational program, and an art competition for students below Grade 9.

The opening of the 294th library represents another significant step towards Seylan Bank’s commitment to establishing 300 ‘Pahasara’ Libraries across Sri Lanka. Through the initiative, the Bank continues to strengthen library infrastructure, expand access to essential learning tools, nurture financial literacy, and create a lasting positive impact within communities across the country.