Category: Daily Financial Times

Sri Lanka Standards Institution (SLSI) has revised SLS 1324:2025 – Requirements for Organic Agriculture Production and Processing. This revision represents the Second Revision of the standard, originally published in 2007 and previously revised in 2018 and provides a comprehensive and up-to-date framework governing organic production, post-harvest handling, storage, processing, packaging, labelling, transportation and marketing of organic produce and products.

Sri Lanka has a long-standing tradition of environmentally harmonious agricultural practices, rooted in indigenous knowledge systems, mixed farming and biodiversity-rich home garden systems. In recent decades, organic agriculture has gained increasing national importance as a sustainable approach to address soil degradation, environmental pollution, food safety concerns and the growing demand for quality agricultural produce.

Need for revision

In this context, the establishment and periodic revision of a national standard for organic agriculture is essential to ensure credibility, consistency and consumer confidence in organically labelled produce and products in Sri Lanka.

Recognising these national priorities and evolving global developments, The revision of SLS 1324 was undertaken in response to significant changes in organic agriculture practices, certification systems, international trade requirements and consumer expectations. Increasing concerns related to misleading organic claims, environmental sustainability, traceability and food safety necessitated a more robust and harmonised standard.

SLS 1324:2025 aligns Sri Lanka’s organic agriculture framework with internationally recognised principles and best practices while ensuring relevance to local agro-ecological, socio-economic and regulatory conditions.

Scope and coverage

The revised standard applies to a wide range of activities including:

Crop production, livestock production, aquaculture, mushroom and apiculture

Wild harvested products

Processing, storage, transport and marketing of organic products

Packaging, labelling and certification claims

Key enhancements introduced

1. Mandatory Organic Management Plan (OMP)

A major enhancement in the revised standard is the introduction of the Organic Management Plan, which requires operators to document and implement systematic procedures covering land use, soil fertility, pest and disease management, record keeping and traceability. This strengthens transparency, inspection efficiency and accountability across the organic value chain.

2. Strengthened Crop Production Requirements

Greater emphasis is placed on soil-based production systems, biodiversity conservation, crop rotation and agro-ecosystem management. The revised standard explicitly prohibits hydroponic and other non-soil-based systems for organic crop production, reinforcing the foundational principles of organic agriculture.

3. Enhanced Livestock, Aquaculture and Apiculture Provisions

Updated requirements ensure improved animal welfare, responsible feed management, biosecurity, environmental protection and ethical husbandry practices. Detailed provisions are included to address conversion periods, parallel production risks and permitted inputs.

4. Improved Processing, Packaging and Labelling Controls

Significant revisions have been made to processing aids, additives, packaging materials and labelling practices to prevent misleading claims and safeguard organic integrity. These measures enhance consumer confidence and support fair trade practices.

5. Clear Prohibitions and Integrity Safeguards

The standard clearly prohibits the use of genetically modified organisms (GMOs), ionising radiation, nanotechnology and synthetic inputs not expressly permitted. Robust requirements are included in preventing contamination, commingling and loss of organic integrity.

6. Inclusion of Social Justice Principles

In line with modern sustainability frameworks, SLS 1324:2025 incorporates social justice considerations, emphasising fair labour practices, worker welfare and ethical business conduct within organic operations.

Benefits to stakeholders

The revised standard provides clear and consistent guidance to farmers, processors, exporters, certification bodies and regulators. It supports:

Sustainable agricultural practices

Consumer protection and informed choice

Improved market access for certified organic produce and products

Alignment with national legislation and international trade requirements

By promoting environmentally sound and socially responsible production systems, the standard contributes to long-term food security, environmental conservation and rural development.

As the national standards body, the SLSI remains committed to developing, reviewing and maintaining standards that support national development objectives and protect public interest. The revision of SLS 1324:2025 reflects SLSI’s ongoing efforts to strengthen Sri Lanka’s organic agriculture sector through credible, transparent and internationally aligned standards. SLSI encourages all stakeholders to adopt and implement this revised standard to ensure the integrity, sustainability and continued growth of organic agriculture in Sri Lanka.

The Asian Development Bank (ADB) has appointed Sona Shrestha as Director General of its South Asia Department (SARD), where she will lead the development and implementation of ADB’s strategy and operations in Bangladesh, Bhutan, India, Maldives, Nepal, and Sri Lanka.

‘I am honoured to be appointed Director General of South Asia,’ said Shrestha. ‘I look forward to working closely with our developing member countries in the region to further deepen ADB’s engagement in support of inclusive and sustainable development.’

Shrestha is a seasoned development leader with over 27 years of professional experience, including 23 years at ADB. Prior to this appointment, she was Deputy Director General for SARD. She has also served as Deputy Director General of ADB’s Independent Evaluations Department, Assistant Secretary, Director in the Financial Sector and Trade Division for Southeast Asia, and Deputy Country Director for Indonesia. In earlier professional roles in ADB, she gathered extensive operations experience across Central and West Asia, South Asia, and Southeast Asia.

A national of Nepal, Shrestha holds doctorate and master’s degrees in economics from University of California in the United States. She also has a bachelor’s degree in economics from Smith College, Massachusetts.

Top diversified blue chip Aitken Spence PLC has recorded revenue of Rs. 67 billion for the nine months ending 31 December 2025, underscoring a robust performance across its portfolio of industries.

The Tourism sector accounted for 68% of Group revenue, while the Maritime and Freight Logistics sector and Strategic Investments sector contributed 18% and 12%, respectively. Furthermore, the Group’s revenue for the third quarter improved by 3.8%, reflecting steady performance across key sectors.

The Group’s total Profit Before Tax (PBT) stood at Rs. 5.6 billion for the nine months ending 31 December 2025, compared to Rs. 4.3 billion in the corresponding period of the previous year, reflecting a growth of 30%. Correspondingly, the Group’s Profit After Tax (PAT) improved by 42% to reach Rs. 3.4 billion.

The Tourism sector recorded the most notable improvement during the period under review, reporting a PBT of Rs. 2 billion for the nine months ended December 2025.

This performance was primarily attributable to the sustained recovery and growth of the tourism industry in Sri Lanka. In addition, the sector benefited from significant improvements in profitability at the Group’s Maldivian resorts, as well as enhanced operating performance across hotel operations in India and Oman.

The Group’s Maritime and Freight Logistics sector was the largest contributor to PBT for the period under review, reporting a PBT of Rs. 3.3 billion. Sector performance, however, was moderated by lower volumes and margin pressures, particularly impacting overseas freight and airline operations. This was reflected in the reduced contribution from the sector’s equity-accounted investee for the period.

In the Strategic Investments sector, the key contributing segments of Printing and Plantations both recorded stellar performance for the period under review despite the challenging market conditions of these industries, while the Power Generation segment witnessed a steady performance with notable contributions from the Waste-to-Energy and renewable power generation operations. However, the significant losses incurred in the Apparel Manufacturing segment impacted the overall performance of the sector, resulting in a loss of Rs. 652 million at PBT level.

The Services sector recorded strong growth during the period under review, driven primarily by the expansion of operations at Port City BPO, the Group’s most recent investment. This performance was further supported by improvements in performance by the Group’s elevators segment. As a result, the Services sector reported a PBT of Rs. 843 million, compared to Rs. 114 million in the corresponding period of the previous year.

The period was marked by notable achievements:

Bullets

*Aitken Spence PLC became the first and only diversified holdings company in Sri Lanka to have its climate targets validated by the Science Based Targets Initiative (SBTi).

*Aitken Spence partnered with the Sri Lanka Air Force (SLAF) on the ‘Clean Today – Green Tomorrow’ initiative, implemented across SLAF establishments in commemoration of the Air Force’s 75th anniversary and World Environmental Education Day, promoting sustainability in camps and surrounding communities while advancing multiple UN Sustainable Development Goals.

The HSBC Ceylon Literary and Arts Festival 2026, taking place from 13 to 15 February at Cinnamon Lakeside, Colombo, promises to be one of those rare cultural moments that linger long after the last session ends.

It is a gathering not only of writers, artists and thinkers, but of ideas, shared, challenged and celebrated in spaces where curiosity feels welcome.

The HSBC Ceylon Literary and Arts Festival 2026 is supported by several organisations through non-promotional CSR initiatives, including Clouds by SOZO and the Rukmini Tissanayagam Trust. International Distillers Limited contributes in a strictly neutral CSR capacity, providing logistical and resource support for the event without any brand promotion or product visibility.

The Festival celebrates Sri Lanka’s creative voice by showcasing literature, arts, and cultural talent from across the country. All supporting organisations participate solely in a philanthropic and educational role, ensuring that the focus remains on artistic expression and community engagement.

The Rukmini Tissanayagam Trust brings to the Festival a deep and enduring commitment to nurturing literature and the arts as essential pillars of society. Its work is driven by the belief that creative spaces are not optional additions, but vital platforms that shape how communities think, feel and engage with the world around them.

SOZO Beverages Director and The Rukmini Tissanayagam Trust Trustee Indhu Selvaratnam said: ‘The Rukmini Tissanayagam Trust is delighted to partner with the Ceylon Literary Festival for the second time. We are deeply committed to enriching Sri Lanka’s intellectual and cultural landscape and admire the festival’s evolution in embracing literature, art, music, and initiatives that nurture emerging local talent. These efforts align closely with the Trust’s mission to support creative expression, and we look forward to continuing our support as the festival strengthens Sri Lanka’s global cultural presence.’

Adding a complementary dimension to this partnership is Clouds by SOZO, Sri Lanka’s premium mountain spring water brand, whose ethos of purity, sustainability and thoughtful living aligns naturally with the spirit of the Festival. Sourced from a pristine spring in the Knuckles mountain range, Clouds represents a return to authenticity, an idea that resonates strongly within creative and cultural spaces.

SOZO Beverages Founder Dushyantha De Silva said: ‘The arts invite us to slow down, to observe, and to think more deeply, and Clouds comes from that same place of intention. Supporting the HSBC Ceylon Literary and Arts Festival is about being part of a space where ideas flow freely and thoughtfully. It’s a privilege for us to align with a platform that values creativity, dialogue and conscious choices.’

The HSBC Ceylon Literary and Arts Festival 2026 offers something increasingly rare: three uninterrupted days of ideas. Of language and imagination. Of conversations that do not require a screen to feel alive. It is a reminder of the power of gathering, of listening, discovering and engaging with perspectives that challenge and inspire.

PALLEKELE: Sri Lanka’s misfiring middle order, which has been causing a big headache, eventually came good to notch up the highest total in the ongoing T20 World Cup – 225-5 – enabling them to secure their second straight win beating Oman by a thumping margin of 105 runs at the Pallekele International Cricket Stadium yesterday.

It was Sri Lanka’s second highest total in T20Is after 260-6 against Kenya scored at Johannesburg in 2007.

Sri Lanka started poorly with both openers being dismissed inside the powerplay. That is when their middle order decided to come to the party. Contrasting fifties from Kusal Mendis (61 off 45 balls, 7 fours) and Pavan Rathnayake (60 off 28 balls, 8 fours, 1 six) – his first half-century in T20I cricket – who came together in a stand of 94 off 52 balls, settled the nerves. It was Sri Lanka’s highest for the third wicket in T20 World Cups, breaking the 87 by Sanath Jayasuriya and Mahela Jayawardene.

Then, skipper Dasun Shanaka’s 19-ball half-century (50 off 20 balls, 2 fours, 5 sixes) – the fastest for Sri Lanka in T20Is beating his own previous record of a 20-ball salvo against India at Pune in 2023 – and his partnership of 63 off 28 balls with Kusal Mendis left Oman rattled. Kamindu Mendis chipped in with a couple of sixes and a four in his seven-ball 19* to bat Oman out of the contest. Sri Lanka scored 65 runs in the last four overs, thanks to Shanaka and Kamindu Mendis.

Faisal Shah was very impressive in the midst of the carnage, bowling his four overs conceding just 28 runs, while Jiten Ramanandi grabbed a couple of wickets for 41.

Oman had a mountain to climb and Dushmantha Chameera made it look even harder for them when he took a wicket in the very first over. Maheesh Theekshana did so in the second over and the rest of the innings was a mere formality.

Mohammad Nadeem put up some resistance and brought up a maiden World Cup fifty (53* off 56 balls, 3 fours, 1 six). At 43 years and 161 days, he became the oldest to score a fifty in any ICC tournament. The previous oldest was Netherlands’ Flavian Aponso (43y 121d), who scored 58 against Pakistan in the 1996 Men’s ODI World Cup game. The previous oldest in a T20 World Cup match was by Sanath Jayasuriya (39y 345d) against West Indies in the 2009 edition.

Wasim Ali threatened briefly during his 20-ball 27 (3 sixes), but Oman were simply second best as they were outclassed by the host country. Seven bowlers were used by Sri Lanka and Maheesh Theekshana was the pick with 2/11. Dushan Hemantha, who came in for the injured Wanindu Hasaranga, took some stick, conceding 45 runs in his four overs for one wicket.

Rathnayake was named Player of the Match.

The prestigious Presidents Cup Golf will tee off from today and will continue till Sunday at the Royal Colombo Golf Club (RCGC), promising three days of top-class golfing action.

Over 240 golfers are set to compete in this much-anticipated club event which will have the tee off at 7 a.m. Day 2 and 3 will tee off at 6 a.m.

With a strong field and competitive spirit expected throughout, the event will conclude with the grand prize giving ceremony on 15 February at 1 p.m. at their Club House.

This March, Sri Lanka’s business and creative community is set to experience an intensive two weeks of learning and exchange as The Faculty of Brands launches Elevate Sri Lanka, a curated program of high-impact workshop sessions and forward-thinking conversations. At the centre of this initiative is a special guest: Teodora Migdalovici, international brand strategist and founder of The Alternative School’s Creative MBA.

An award-winning brand consultant, educational practitioner, lobbyist, and private diplomat, Teodora Migdalovici has played a pivotal role in positioning Romania within the world’s most demanding creative ecosystems, including its first awarded presence at Cannes Lions. With more than two decades of international exposure, her work consistently translates creative excellence into applied brand and business strategy.

She is the founder of The Alternative School, the pioneering force behind the Creative MBA concept, launched in the global market since 2015 and one of Eastern Europe’s most respected fast-paced programs for professionals in branding, marketing, communication, and design who seek to expand their strategic capacity and perform at international level. Alumni of the program, alongside her private clients, have gone on to win Gold, Silver, and Bronze Lions at Cannes and Effie, among other relevant international competitions.

Since 2005, Theodora has worked closely with creative and marketing ecosystems worldwide, advising leaders and teams on brand building, meaningful effectiveness, and strategic positioning through creativity. She has delivered executive workshops and keynote sessions for teams or organisations such as Asahi Beer (Ursus), Coca-Cola, Google, PandG Europe, Unilever, and Vodafone, and has spoken at major industry gatherings ranging from Eurobest and Central Asia’s Jolbors to the Customer Experience Forum in Paris and Creativity and Business events in Cascais, London, Mumbai, Mauritius, and Vienna. In March, she will bring this global perspective to Sri Lanka through a curated series of workshops and learning sessions in collaboration with The Faculty of Brands.

The Faculty of Brands is dedicated to uplifting Sri Lankan brand creativity and effectiveness through accessible, actionable education. Its mission is to level the playing field so Sri Lankan brand leaders, creatives, and business owners can compete confidently against global standards. By connecting local talent with international perspectives from renowned speakers and the expertise of a strong faculty of Sri Lankan industry leaders through carefully curated learning experiences, TFOB provides practical perspectives and insights that teams can apply immediately. This approach helps build stronger, more sustainable brands while raising the overall competence of the brand building ecosystem.

The Faculty of Brands CEO Gayendra Rajapaksha said: ‘Elevate Sri Lanka’ is set to attract strong interest from brand leaders and agency custodians seeking practical global perspectives that can be applied to local market realities. A limited number of brand, marketing, and creative effectiveness workshops will be available during the March visit.’

The world moves on different wavelengths. Some are high-frequency shocks – wars, emerging technologies, market panics – that spike quickly and dominate our attention. Others are low-frequency forces that move slowly but relentlessly: demographics, globalisation, water and food scarcity.

The high-frequency waves feel urgent. The low-frequency waves reshape the system.

That is not to say crises don’t matter. But we cannot become casualties of the slow burn simply because the immediate crisis burns hotter or dominates more headlines. Ignore the slow burn long enough, and it becomes an inferno.

One of those forces is already in motion. Over the next 10 to 15 years, 1.2 billion young people in developing countries will come of working age – a scale the world has never seen. On current trajectories, these economies are expected to generate only about 400 million jobs over that same period – leaving a gap of staggering proportions.

This is often framed as a development challenge, and it is. It is also an economic challenge. And it is increasingly a national security challenge.

What was striking at the Davos conference last month was how easily this issue was brushed aside – overshadowed by the urgency of the issue du jour. It must not be ignored at coming forums like the Munich Security Conference, the G-7 and G-20.

If we invest early in people and connect them to productive work, this vast new generation can build lives of dignity and become a foundation for growth and stability. If we do not, the consequences are predictable: pressure on institutions, irregular migration, conflict, and rising insecurity as young people reach for any path available to them.

The World Bank Group is pursuing the first path with urgency, bringing together public finance, knowledge, private capital, and risk-management tools around a jobs strategy built on three pillars.

First, creating infrastructure – both human and physical. Without reliable power, transportation, education and healthcare, private investment and jobs never materialise. While the role of physical infrastructure is well understood, investment in people is equally critical. For example, a skills centre in Bhubaneswar, India – supported in partnership with the government and private sector — trains nearly 38,000 people each year. Because the preparation is aligned with real market demand, nearly all graduates secure employment – or go on to create jobs themselves, supported by engineering, manufacturing and intellectual property training.

Second, creating a business-friendly environment. Clear rules and predictable regulation reduce uncertainty and improve the ease of doing business. Jobs are generated when entrepreneurs and firms have the confidence to invest and expand. Public resources can help unlock that process, but job creation at scale depends on the private sector – especially micro-, small- and medium-sized enterprises that generate most employment.

This leads to the third pillar: helping businesses scale. Through our private-sector arms, we provide equity, financing, guarantees and political risk insurance. One recent model is a trade-finance guarantee supporting Banco do Brasil, which is unlocking roughly $700 million in affordable funding for Brazilian small businesses, particularly in agriculture – channeling capital to the firms that drive local growth.

We focus where job potential is greatest, across the five sectors that consistently generate employment at scale: infrastructure and energy, agribusiness, primary healthcare, tourism and value-added manufacturing.

This is not an abstract theory. It is grounded in evidence, country experience and hard choices about where limited resources deliver the greatest impact.

It is also not a

zero-sum proposition.

By 2050, more than 85% of the world’s population will live in developing countries. That represents not only the largest expansion of the global labor force in history, but the largest growth in future consumers, producers and markets. Whether the motivations are development, altruism, returns or security, there is a role and reward for putting energy and resources into this effort.

Developing countries benefit because jobs create income, stability and dignity. They strengthen domestic demand and give young people a reason to invest in their future at home rather than look elsewhere.

Developed countries gain as well. As developing economies grow, they become stronger trading partners, more resilient supply-chain anchors and more stable neighbors. Growth in those markets expands global demand and reduces the pressures that drive irregular migration and insecurity – outcomes that carry real economic and political costs far beyond borders.

And for the private sector – both financial institutions and operators – this represents one of the largest opportunities of the coming decades. Rapid population growth means sustained demand for energy, food systems, healthcare, infrastructure, housing and manufacturing.

The constraint has never been a lack of opportunity. It has been risk, real and perceived. That is where development institutions can play a catalysing role: financing infrastructure, supporting regulatory reform and reducing risk.

If we get this right, the low-frequency forces shaping the world – in this case demographics – become engines of growth and stability rather than sources of volatility and risk. If we get it wrong, we will continue to chase crises – reacting to outcomes that were visible years, even decades, in advance.

The choice is not whether these forces will shape the future. They will. The choice is whether we act early and bend them toward opportunity – or wait until they arrive as instability.

United Motors Group (UML) yesterday announced a robust financial performance for the first nine months of the financial year, ended 31 December 2025.

Year-to-date Group Profit after Tax (PAT) for the financial year stood at Rs. 2.4 billion, an increase of 5,315% compared to the same period last year. At the company level, United Motors Lanka PLC’s profit increased to Rs. 1.1 billion, a growth of 537% compared to the previous year.

Group revenue reached Rs. 33.3 billion year-to-date, compared to Rs. 7.9 billion in the prior-year period, reflecting an increase of 323%. Company revenue grew to Rs. 15.6 billion, up from Rs. 4.6 billion the previous year, representing a 236% increase.

With the import ban lifted, strong demand has been witnessed for the mid-range Mitsubishi SUVs and FUSO commercial vehicles, with pre-orders for future shipments. After sales performance has also been at its highest level in recent years, with a wide cross-section of vehicles utilising UML’s workshops across its nine island-wide locations. The launch of the New Mitsubishi Destinator (a 1.5-litre turbo 7-seater) in December is expected to continue bolstering performance in the coming quarters, considering the high demand and existing pre-orders.

At the subsidiary level, a key driver of performance was the Perodua range from Unimo Enterprises, catering to a wider market due to its entry level pricing. Performance in Q3 were further supported by an expansion of the Perodua model lineup, where the model range increased from three models/variations to six, including the Perodua’s new Ativa 1,000cc compact SUV. Over 300 units were sold in its first month of launch in the quarter.

Unimo’s newest venture into the Electric Vehicle (EV) and Range Extended Electric Vehicle (REEV) space is expected to add to the portfolio in the coming months.

In addition, Dutch Lanka Trailers (DLT) also made a significant contribution to the Group’s performance during the quarter. DLT continued to expand its global footprint, supported by strong international demand for its port trailers, further strengthening the Group’s performance in the quarter and in the nine months.

The Government has assured the public that health authorities have stepped up efforts to maintain strict vigilance at the country’s airports to prevent the entry of the Nipah virus, amidst an influx of tourist arrivals.

Speaking at the weekly post-Cabinet meeting media briefing on Tuesday, Cabinet Spokesman and Health Minister Dr. Nalinda Jayatissa said that the Health Ministry has already taken steps to detect all passengers arriving in the country through airports and ports.

The Minister also highlighted the importance of these measures given the record number of tourist arrivals to the country. ‘With the increase in tourist arrivals, we are extremely on alert. The Health Ministry is fully prepared to take necessary actions,’ he added. He made these remarks responding to concerns about whether specific quarantine or detection mechanisms are in place at the airport, especially given the ongoing ICC T20 Cricket World Cup, which attracts a large number of foreign visitors.

‘Even before the recent death was reported in Bangladesh, we had already commenced necessary monitoring activities at the airport regarding all incoming tourists,’ Dr. Jayatissa said.

The Minister acknowledged the high fatality rate associated with the Nipah virus, noting that it presents a different challenge compared to the COVID-19 pandemic. However, he assured that the health sector is operating with full awareness and is ready to take all necessary precautions.