DFCC Bank appoints Anarkali Moonesinghe to Board

DFCC Bank PLC has appointed Anarkali Moonesinghe to its Board as an Independent Non-Executive Director.

Moonesinghe brings over 25 years of experience in investment banking, capital markets, and corporate finance across Europe and Asia, with depth in emerging and frontier market financial institutions. Her experience spans mergers and acquisitions, equity and debt capital markets, private equity investments, and balance-sheet and capital structuring advisory.

She previously served as Chief Executive Officer of CIMB Investment Bank, Sri Lanka, where she established and led the bank’s investment banking operations, advising domestic and international clients on complex cross-border transactions, capital raising, and strategic investments within the Sri Lankan banking and financial services sector. Her work included advising global institutional investors and financial sponsors on acquisitions, recapitalisations, and equity investments in listed and unlisted entities.

Prior to this, Moonesinghe was a Partner at Amura Consulting (Singapore), providing corporate finance and financial structuring advisory services to financial institutions, private equity funds, and corporates operating in frontier markets. She began her career with Merrill Lynch, working in Mergers and Acquisitions and Corporate Finance in Singapore and London, where she gained experience in equity, equity-linked, and debt financing transactions, as well as financial risk analysis across multiple industries.

Moonesinghe currently serves as an Independent Non-Executive Director on the Board of hSenid Business Solutions PLC, where she chairs the Related Party Committee, and is a Shareholder and Non-Independent, Non-Executive Director of WealthTrust Securities PLC.

She holds an MA (Hons) in Politics, Philosophy and Economics (PPE) from the University of Oxford. Additionally, she completed an Intensive Executive MBA at the Wharton Business School, University of Pennsylvania.

ComBank partners GAIA Greenenergy to accelerate adoption of Green Loans and Leases

The Commercial Bank of Ceylon PLC has entered into a strategic partnership with GAIA Greenenergy Holdings to expand access to the bank’s Green Loans and Green Leases, offering employed and self-employed customers more affordable pathways to adopt solar power.

The partnership was formalised with the signing of a Memorandum of Understanding by Commercial Bank Retail Products Department Chief Manager Dushmantha Jayasuriya and GAIA Greenenergy Holdings CEO Lalinda Kalubowila.

Under this collaboration, Commercial Bank is extending preferential interest rates starting from 10% per annum, with repayment periods of up to seven years, to drive wider uptake of solar installations. Customers can use the bank’s Green Loans and Green Leases to finance the purchase and installation of solar panels, and will benefit from some of the most competitive green-financing rates now available in the market. The promotion runs until 2 December 2026.

GAIA will complement this offering with a comprehensive suite of services that strengthens customer value. These include the development, design, construction, operation and maintenance of Solar PV systems, with options ranging from standard solar systems to hybrid models from 3 kW upwards.

Customers will also receive one year of free service and one year of insurance. Solar systems installed by GAIA are monitored in real time through a central control division at its headquarters enabling the company’s design and engineering teams to advise clients promptly on any performance deviations. GAIA provides 12-year warranties on panels, 10-year warranties on inverters, and a 30-year performance guarantee on panels.

GAIA Greenenergy is an industry-leading renewable energy provider backed by top global ESG investors. The company is spearheading Sri Lanka’s largest rooftop solar initiative, a 350 MW program implemented through an innovative public-private partnership spanning seven provinces. Its model supports Sri Lanka’s energy-transition goals by reducing reliance on fossil fuel imports, lowering national energy costs and improving grid resilience.

Commercial Bank said its partnership with GAIA reflects its commitment to popularising green products and expanding its Green Loan and Green Lease portfolio, while making sustainable energy solutions more accessible to customers through lower financing costs and reliable, high-quality solar solutions.

Seifert half-century helps NZ beat Afghanistan in record run chase

New Zealand pulled off their highest run chase in T20 World Cup history as they opened their Group D campaign with a five-wicket win over Afghanistan.

Set a tricky 183 in Chennai, the Black Caps recovered from a parlous 14-2 thanks to opener Tim Seifert’s 65 off 42 balls.

The Kiwis still had work to do at 155-5 with four overs remaining, but Daryl Mitchell and Mitchell Santner upped the ante and Afghanistan’s seamers had no answer to their measured aggression. Mitchell finished unbeaten on 25 off 14 balls, while Santner whacked 17* off eight as New Zealand won with 13 balls to spare.

Their pursuit of the target eclipsed their previous best World Cup chase of 167 against England in the semi-finals of the 2021 tournament.

Gulbadin Naib had earlier provided the backbone of Afghanistan’s 182-6 with a pugnacious 63 off 35 balls. The all-rounder struck three fours and four sixes at a strike rate of 180.00 as he shared stands with Rahmanullah Gurbaz and Sediqullah Atal. Lockie Ferguson claimed 2-40 while Matt Henry, Jacob Duffy, and Rachin Ravindra chipped in with a wicket each.

New Zealand looked in trouble when Mujeeb Ur Rahman removed Finn Allen and Rachin Ravindra for 1 and 0, respectively.

But Seifert and Glenn Phillips rebuilt with a third-wicket partnership of 74 before the latter was bowled by Rashid Khan for a 25-ball 42. Seifert hammered back-to-back sixes off Mohammad Nabi – bringing up his half-century in the process – only to fall a couple of deliveries later to the experienced spinner when he holed out to square leg.

There would have been a few nerves when Mark Chapman departed for 28 but with Rashid and Mujeeb bowled out, Mitchell and Santner showed the required composure to complete the job.

Practical ergonomics: Designing work for people, productivity and profit

IN Sri Lanka, senior executives spend a considerable time debating productivity-how to improve output, reduce costs, retain skilled employees, and remain competitive in increasingly demanding markets. The discussion often centres on automation, digitalisation, lean systems, and capital investment. Yet one of the most powerful productivity tools is frequently overlooked because it appears deceptively simple: ergonomics.

Ergonomics is not about luxury chairs or fashionable offices. It is about designing work, tools, machines, and environments to match human abilities and limitations. Organisations that apply ergonomic thinking consistently achieve higher productivity, better quality, fewer injuries, and stronger employee commitment-often with minimal capital expenditure.

What is ergonomics? A simple explanation

The word ergonomics comes from the Greek ergon (work) and nomos (laws). In practical terms, ergonomics means fitting the work to the worker, rather than forcing the worker to fit poorly designed work.

One of the most frequently cited ergonomic design examples is the Coca-Cola bottle. Its iconic contoured shape was not designed purely for aesthetics. It fits naturally into the human hand, provides a secure grip even when wet, and can be recognised by touch alone. This design reduces effort, improves usability, and enhances user experience-all fundamental ergonomic principles.

The same logic applies to:

The placement of gear levers in modern vehicles

The shape of a hacksaw handle

The layout of mobile phones and ATM keypads

The height and reach of a factory workstation

Good ergonomic design feels ‘natural’ because it respects how the human body works.

Why ergonomics matter to Sri Lankan organisations

From a management perspective, ergonomics delivers measurable benefits on two fronts.

Benefits to the organisation

Higher productivity and consistent output

Improved quality and fewer defects

Reduced workplace injuries and medical costs

Lower absenteeism and staff turnover

Better on-time delivery and customer satisfaction

Benefits to employees

Reduced fatigue and discomfort

Fewer musculoskeletal injuries

Improved morale and job satisfaction

Better quality of work life

In Sri Lanka’s labour-intensive industries such as garments, food processing, construction, logistics, plantations, and services, these benefits translate directly into competitive advantage.

Sri Lankan reality: Where productivity is lost

Across Sri Lanka, productivity losses frequently arise not from lack of effort, but from poor work design.

In garment factories, operators work long hours with forward-leaning postures, poorly positioned pedals, and repetitive hand movements. In offices, employees sit for extended periods on non-adjustable chairs, with computer monitors placed too low or too far away. On construction sites and warehouses, workers lift loads manually that could easily be reduced or mechanised.

These conditions slowly lead to fatigue, errors, injuries, and ultimately attrition. The organisation pays the price through lost output, quality issues, and rising indirect costs.

Musculoskeletal injuries: The silent productivity drain

One of the clearest links between ergonomics and productivity is found in musculoskeletal injuries (MSIs). These injuries affect muscles, tendons, ligaments, joints, nerves, and supporting tissues. Unlike accidents, they develop gradually and are often ignored until they become chronic.

Common Sri Lankan examples

Lower back pain among office staff due to prolonged sitting on poor chairs

Neck and shoulder pain among BPO and banking employees from screen-related posture

Wrist and hand injuries among sewing machine operators

Knee and foot pain among factory workers who stand on hard floors

Back and shoulder injuries among warehouse and construction workers due to poor lifting practices

These injuries reduce speed, accuracy, and endurance long before they lead to sick leave or compensation claims.

The ‘three Ds’ and labour turnover

When Japanese factories started losing young workers and many industries closed down they blamed it on the 3D’s:

Difficult jobs

Dirty jobs

Dangerous jobs

The ceramic industry was one that was affected because people preferred to work in offices rather in a factory with clay all over the place. Many ceramics factories closed down. Now Sri Lankan organisations are facing the same situation and struggle to retain mostly unskilled shop-floor workers. One recurring reason is the 3D’s. While some industries will always involve physical work, poor ergonomic design unnecessarily makes jobs more difficult and dangerous. Over time, experienced workers leave, taking skills and tacit knowledge with them. Ergonomics addresses this problem by making work safer, easier, and more sustainable.

Factories and workshops: Small changes, big gains

In industrial settings, ergonomic improvements often yield immediate returns.

A Sri Lankan manufacturing example

In a medium-scale food processing plant, operators were required to bend repeatedly to load trays at a low height. A simple redesign-raising the worktable by 150 mm and repositioning trays within easy reach-reduced bending, increased output per worker, and significantly reduced complaints of back pain. The cost was negligible compared to the productivity gains.

Other practical factory improvements include:

Adjustable worktable heights

Tools placed within the normal reach zone

Jigs and fixtures to reduce gripping force

Anti-fatigue mats for prolonged standing

Mechanical aids for pushing, pulling, and lifting

Good ergonomics reduces unnecessary movement and fatigue, allowing workers to maintain performance throughout the shift.

Office ergonomics: The invisible productivity killer

In Sri Lanka’s growing service sector-banking, insurance, IT, government offices-musculoskeletal disorders develop silently.

Employees sit for hours with:

Poor lumbar support

Forward-head posture while looking at screens

Keyboards and mice placed too far away

The result is reduced concentration, slower decision-making, and increased errors.

Simple ergonomic improvements-adjustable chairs, correct monitor height, proper keyboard placement, and better lighting-have been shown to significantly improve comfort and sustained performance. In knowledge-based work, this directly affects quality of output and managerial effectiveness.

Environment matters: Light, noise, and climate

Ergonomics also considers the work environment. Poor lighting slows work and increases mistakes. Excessive noise causes stress and distraction. Poor ventilation and uncomfortable temperatures reduce alertness.

Sri Lankan factories that have improved lighting layouts-combining general lighting with task-specific lighting-have reported improvements in speed and accuracy. Even small improvements in ventilation and temperature control can significantly reduce fatigue, especially in hot environments.

Fatigue, boredom, and rest pauses

Highly repetitive work, common in conveyor-based operations and clerical tasks, leads to boredom and mental fatigue. The human brain requires occasional variation and stimulation to maintain alertness.

Well-designed rest pauses, and micro breaks rather than continuous long hours, improve overall productivity. Once a worker becomes exhausted, recovery takes much longer. If the rest pause is given at the point of onset of fatigue recovery is much faster and recovery is complete. Many Sri Lankan managers are surprised to find that more frequent short breaks often result in higher daily output.

Intuitive design and population stereotypes

Good ergonomic design also respects population stereotypes-widely held expectations about how controls and displays should behave. For example, turning a knob clockwise to increase output is almost universal. When design violates these expectations, errors increase and training time lengthens.

This principle is particularly relevant in control panels, machinery interfaces, and digital systems used in factories and offices.

Modern ergonomics and innovation

Today, ergonomics is increasingly supported by innovation. Adjustable workstations, sit-stand desks, improved tool design, and data-driven workplace assessments are becoming more common even in Sri Lankan organisations.

Most importantly, ergonomics aligns well with participative management and continuous improvement. Workers are often the first to identify discomfort and inefficiency. Involving them in ergonomic improvements not only generates practical solutions but also strengthens engagement and ownership.

Ergonomics as a strategic management tool

For Sri Lankan executives, the message is clear. Ergonomics is not a welfare initiative or a compliance exercise. It is a strategic productivity tool.

By designing work intelligently, organisations can:

Reduce hidden costs

Improve reliability and quality

Retain skilled employees

Enhance competitiveness

Just as the Coca-Cola bottle’s success lies in its intuitive, human-centred design, so too does organisational success depend on designing work that respects the human body and mind.

i Grid Holdings introduces i BIKE SLI 100

i Grid Holdings, a Sri Lankan company founded in 2016 and recognised with numerous awards in the solar industry over the past decade, has entered the electric mobility sector with the launch of the i BIKE SLI 100a modern electric scooter designed specifically for Sri Lankan roads and lifestyles.

Developed with a deep understanding of local road conditions and the evolving needs of modern Sri Lankans, the i BIKE SLI 100 combines innovation, sustainability, and practicality. The scooter is available in four attractive colour options, offering both performance and style to local consumers.

One of the standout features of the i BIKE SLI 100 is its keyless NFC technology, allowing users to start the scooter securely without a conventional key an innovation that has captured significant attention. In addition, the scooter is powered by a lithium-ion battery designed for convenience, enabling it to be charged separately from the vehicle.

The launch event was further highlighted by the presence of world champion Dilantha Malagamuwa, who praised the initiative and innovation behind the product. ‘I am happy that a product like this is being developed in our own country. I strongly believe Sri Lankan-made products such as this have the potential to be embraced internationally,’ he said.

iGrid Holdings CEO and i BIKE SLI 100 Founder Nalinda Amarasinghe said: ‘We are extremely proud to create a product of our own for Sri Lanka. As an organisation, contributing to the national economy through innovation is a responsibility we take seriously. Our vision is not only to serve the local market but also to take this product to the international stage.’

Recognising the growing demand for environmentally responsible and technology-driven transportation, the i BIKE SLI 100 reflects i Grid Holdings’ commitment to sustainable innovation. Designed for tech-savvy Sri Lankans, the scooter represents a modern, eco-friendly mobility solution proudly made in Sri Lanka.

Jan. tourism earnings slip despite record-high arrivals

Sri Lanka’s foreign exchange earnings from tourism edged lower in January despite recording its highest-ever monthly increase in visitor arrivals, highlighting persistent pressure on per-capita spending even as the sector seeks to regain its pre-crisis footing.

Tourism revenue fell 6% year-on-year (YoY) to $ 378.5 million in January 2026, according to the Central Bank of Sri Lanka (CBSL). However, January experienced a 23% increase compared with December 2025, reflecting the winter holiday season.

The decline came despite a 10% increase in tourist arrivals to 277,327 during the month.

Although arrivals continue to recover, the latest data suggest that restoring higher-value tourism will be critical if the sector is to deliver stronger foreign exchange inflows.

Without a rebound in per-visitor spending, analysts warn that headline growth in arrivals alone may be insufficient to materially strengthen Sri Lanka’s external position.

Some analysts attribute the softer revenue performance to a downward revision in estimated daily tourist spending, which has weighed on headline earnings since August last year.

The revised estimate reduced average daily expenditure per visitor from $ 172 to $ 148, following a fresh survey conducted by the Sri Lanka Tourism Development Authority (SLTDA).

January marked the fifth decline in monthly tourism revenue over the past seven months. Earnings had weakened in July and August 2025 before recording a modest recovery in the subsequent two months, but have since remained under pressure. The trend underscores the growing gap between headline arrival numbers and actual foreign exchange generation.

Tourism accounts for nearly 3% of Sri Lanka’s economy and is a critical source of foreign currency, particularly as imports and the merchandise trade deficit gradually expand alongside the broader economic recovery.

In 2025, earnings from the sector stood at $ 3.22 billion, a marginal 1.6% increase from $ 3.17 billion a year earlier, despite a much stronger rise in arrivals.

Visitor numbers climbed 15.1% in 2025 to 2.36 million, up from 2.05 million in the previous year, reflecting improving connectivity and a gradual restoration of traveller confidence.

The Government has set an ambitious target of attracting a minimum of 3 million tourists in 2026, betting on higher volumes to lift overall receipts.

At its peak in 2018, tourism contributed close to 5% of Sri Lanka’s economy. The sector has since endured a series of shocks, beginning with the Easter Sunday terror attacks in 2019, followed by the COVID-19 pandemic and the country’s unprecedented economic crisis in 2022.

France-Sri Lanka investment ties gain renewed momentum

The ‘Sri Lanka Business Forum 2026′ was organised by MEDEF International, the French Business Confederation of leading French companies, in partnership with the Sri Lanka Embassy in France on 30 January at the MEDEF Office in Paris.

The event, which was held in hybrid format, had a solid line-up of reputed French companies participating.

Delivering the keynote address, Industry and Entrepreneurship Development Deputy Minister Chathuranga Abeysinghe presented the Government’s policy framework and the reform agenda aimed at strengthening investor confidence, improving ease of doing business, and accelerating export-led growth.

The Deputy Minister elaborated on upcoming legislative reforms, including amendments to the Minerals Act, the Colombo Port City legislative framework, implementation of the Investment Single Window, and the Government’s broader digitisation drive which would contribute towards enhancing transparency and business confidence.

Highlighting Sri Lanka’s comparative advantage in the South and Southeast Asian region, Abeysinghe emphasised France’s role as a strategic investment partner, while inviting French companies to engage with Sri Lanka. The Deputy Minister’s address was followed by a vibrant Q and A where he responded to several questions posed.

The Forum was moderated by MEDEF International France-Sri Lanka Business Council Chairman and Adviser to the Michelin Group Chairman Eric Le Corre.

Delivering welcome remarks, Sri Lankan Ambassador to France and Permanent Delegate to UNESCO Manisha Gunasekera applauded the convening of the Forum as a first step in broadening and deepening the investment partnership. She appreciated the role of MEDEF in connecting reputed French companies with potential investors and partners in Sri Lanka.

Board of Investment (BOI) Executive Director Priyanka Samaraweera, in her presentation detailed inter alia, investor facilitation measures, fiscal incentives including tax holidays, tariff benefits under preferential trade agreements, and upcoming industrial zones. The BOI also invited potential French investors to participate in the upcoming Investors’ Forum scheduled to be held in Colombo on 30 March.

The presentation of Orange Marine CEO Didier Dillard on the company’s successful collaboration with Colombo Dockyard PLC in building their cable vessel ‘Sophie Germain’ in 2023, and two additional vessels scheduled for delivery in 2028 and 2029, helped position Sri Lanka as an attractive and competitive investment destination.

The Embassy highlighted ‘Sri Lanka Expo 2026,’ which will be held in Colombo from 18-21 June, as a key global platform for buyers and investors, and encouraged French companies to participate.

Reputed French companies, SNCF, Bureau Veritas, Carrefour, Deviseo Fret, Emovis SAS, Union de Banques Arabes et Françaises (UBAF), Michelin, and Top Tech College participated in the Forum, thus demonstrating the interest among French corporates in doing business with Sri Lanka. The participating companies reaffirmed that the engagement marked a first step in expanding dialogue and collaboration between France and Sri Lanka.

Senior officials of the Industry and Entrepreneurship Development Ministry and the Export Development Board (EDB) also participated in the Forum. The Forum was organised by the Commercial Section of the Embassy, led by First Secretary – Commerce Prasadi Boomawalage, in consultation with relevant stakeholders.

The success of the Forum reflects the strong commitment of the parties concerned to organise a broader, outcome-oriented engagement with the French private sector in the future.

CBSL Governor dismisses ‘2028 debt phobia’ ahead of key ISB investor call

Sri Lanka will not face another sovereign debt crisis and will commence repayment of its restructured external debt as scheduled, Central Bank of Sri Lanka (CBSL) Governor Dr. Nandalal Weerasinghe said, dismissing what he described as unfounded fears of a renewed default around 2028.

Speaking at an event organised by The Ceylon Chamber of Commerce, the Governor rejected claims that the Government and the CBSL would be unable to meet upcoming debt service obligations, warning that such narratives risk undermining investor confidence at a sensitive juncture in Sri Lanka’s post-crisis recovery.

‘I don’t see any reason even talking about any restructuring or another default. That is a completely misguided misperception. That creates unnecessary doubt among investors and countries that are willing to lend to Sri Lanka,’ he said.

The CBSL Governor noted that Sri Lanka had maintained a strong record of meeting its sovereign debt obligations until 2022, when severely depleted foreign reserves forced the suspension of external debt payments. He said that position has since changed materially.

In 2025, external debt service obligations amounted to about $ 2.5 billion.

Looking ahead, he said annual debt servicing is expected to average around $ 3.5 billion, while the CBSL aims to build gross official reserves to between $ 8 billion and $ 10 billion over the next two years, eliminating the need for any further restructuring.

Asia Securities Head of Research Sanjeewa Fernando recently told an investor forum that external debt settlement obligations for 2026 and 2027 do not exceed $ 2.5 billion per year. ‘This represents a significant reduction from pre-restructuring levels and materially improves debt sustainability,’ he said.

Colombo-based think tank Arutha Research Director – Debt Research Umesh Moramudali last September argued that that fears about post-2028 debt repayments were overstated.

In 2028, Sri Lanka begins capital repayments on bilateral debt to Japan, EXIM Bank China, and EXIM Bank India, while bullet payments and maturities for Macro-Linked Bonds (MLBs) are also scheduled to begin that year.

However, Moramudali said it amounts to an additional $ 1 billion compared to the $ 2 billion debt servicing requirements in 2026 and 2027 comprising interest payments and multilateral (Asian Development Bank, World Bank) loan repayments.

He said the country is on track to reduce its debt burden faster than International Monetary Fund (IMF) baseline projections, though questions remain over whether the new Public Debt Management Office (PDMO) has the capacity to manage complex borrowing once it takes over from the CBSL and External Resources Department.

Separately, the Finance Ministry announced that Sri Lanka has scheduled an investor call for holders of several series of International Sovereign Bonds (ISBs), in line with the terms of the instruments.

According to the Ministry, the call will present the Government’s Debt Report published on 31 December 2025, alongside updates on fiscal developments and other relevant economic indicators. The investor briefing will be held on 11 February at 8:30 a.m. Eastern Standard Time, 1:30 p.m. Greenwich Mean Time, and 7 p.m. Indian Standard Time.

Bondholders have been invited to register their participation through the official WebEx platform circulated by the Government.

According to the PDMO’s latest Quarterly Debt Bulletin, Sri Lanka’s external debt stock stood at $ 37.24 billion at end-September 2025, up $ 100 million from the previous quarter.

Despite remaining shut out of international capital markets, the country continues to access and service funding from multilateral lenders, primarily the World Bank and Asian Development Bank. External debt servicing totalled $ 1.36 billion in the first half of 2025, covering 55% of the $ 2.45 billion due for the full year.

Dr. Weerasinghe has said annual external debt service is expected to average around $ 2.75 billion through 2027, rising to between $ 3.2 billion and $ 3.5 billion from 2028, with peaks of close to $ 4 billion in certain years.

The Bulletin notes that multilateral lenders account for 37% of the external portfolio, followed by commercial debt at 34% and bilateral debt at 29%, with ISBs comprising about 81% of commercial liabilities. It also records substantial progress in restructuring since the April 2022 default, with agreements covering about 94% of creditor commitments concluded by end-2025, allowing the Government to resume regular external debt servicing.

Meadowlea partners Royal College as Team sponsor for 2025/2026 schools cricket season

Pyramid Wilmar Head of Marketing Nadeesha Chandrasekara (centre) along with Marketing Manager Ramaala Wijesekera (left), officials of Royal College and members of the Royal College cricket team

Meadowlea, one of Pyramid Wilmar’s flagship brands, has announced its partnership with Royal College as the official team sponsor for the 2025/2026 school cricket season.

This collaboration is a part of Meadowlea’s ongoing support towards promoting youth development and sportsmanship. The cricket season, which kicked off in December last year, is scheduled to culminate in March with the much-awaited Big Match.

For Meadowlea, being a trusted household brand deeply connected to families and communities, this partnership is more than just a sponsorship-it is an initiative that reflects the company’s continuous commitment to nurture young sporting talent. Through this collaboration, Meadowlea aims to empower young athletes, celebrate their dedication, and foster excellence both on and off the field, while contributing to the development of Sri Lanka’s next generation of sporting talent.

Royal College has a rich notable history in cricket and has produced numerous distinguished cricketers who have contributed to Sri Lankan cricket at a national level. As these young cricketers continue to gear up for the Big Match, delivering their best performances, Meadowlea said it is proud to be part of their journey.