Category: Daily Financial Times

FACETS Sri Lanka, the country’s premier international gem and jewellery exhibition organised by the Sri Lanka Gem and Jewellery Association (SLGJA), will return from 4to 6 January 2027 at the iconic Cinnamon Life at City of Dreams Sri Lanka, marking the 34th edition of this flagship industry showcase.

Building on the strong success of FACETS 2026 – which marked the exhibition’s move to Cinnamon Life – the 2027 edition is set to deliver an even more focused trade experience. The new venue brought renewed energy to the show, attracting increased international buyer participation and positive feedback from exhibitors, reinforcing FACETS’ position as one of South Asia’s key gem and jewellery trading platforms.

FACETS Sri Lanka brings together international buyers, exhibitors, designers, miners, manufacturers, and professionals from across the global gem and jewellery sector. The 2027 exhibition will feature curated pavilions, networking platforms, knowledge-sharing sessions, and immersive storytelling centred on Sri Lanka’s 2,500-year gem heritage – positioning the event as a vital regional hub for coloured gemstones and jewellery.

SLGJA President Akram Cassim said: ‘FACETS 2026 marked a major turning point with our move to Cinnamon Life, delivering strong buyer engagement and positive outcomes for exhibitors. As we head into the 34th edition, our focus is on driving meaningful trade and strengthening Sri Lanka’s position as a global gemstone destination. I am delighted to welcome Shezmin Mansoor as Chairman of FACETS Sri Lanka 2027 and look forward to building on this momentum together.’

The exhibition also marks a leadership transition, with Shezmin Mansoor appointed Chairman, succeeding outgoing Chairman Armil Samoon.

Shezmin comes from a family deeply rooted in Sri Lanka’s gem trade. His father and uncle founded Mansoor and Farook in the 1970s, originating from Kahawatta in the Ratnapura district, working across rough stones as well as cut and polished gems. Growing up immersed in the industry, Shezmin developed an early understanding of the trade, later complemented by formal training with a degree in Supply Chain Management from Arizona State University, USA.

Professionally, he works hands-on across the supply chain – engaging with suppliers, sourcing rough stones, and collaborating closely with cutters and polishers to meet buyer expectations worldwide. A member of SLGJA for over a decade and a long-standing Board Director, his appointment reflects years of industry engagement and operational insight.

Looking ahead, Shezmin enters the role with a clear vision to strengthen FACETS as both a global trade platform and a national showcase for Sri Lanka. Key priorities include expanding international reach, supporting exporters and SMEs, encouraging knowledge-sharing, and promoting sustainability and ethical practices across the sector. FACETS also continues to serve as an important source of exposure and inspiration for the next generation entering the trade.

With its world-class venue, renewed leadership, and continued focus on heritage, innovation, and responsible growth, FACETS Sri Lanka 2027 is set to be another defining chapter for the island’s gem and jewellery industry.

The Employers’ Federation of Ceylon (EFC) proudly launched the first ever EFC National Best Employer Awards, a historic initiative to honor Organizations that go beyond business, embracing purpose, people, and progress.

This prestigious award recognizes exceptional performance of employers who

Drive Strategic HR Excellence

Cultivate strong Leadership and Culture

Contribute to National and Socio-Economic Progress

Uphold the highest standards of Ethics and Compliance and

Lead Digital Transformation while staying Human-centered

In today’s dynamic world of work, the importance of a positive and supportive workplace cannot be overstated. The employers, we honor are beacons of best practice, proving that prioritizing your people leads to greater innovation, resilience, and growth.

This event is more than just an awards presentation; it is a recognition of the profound

impact that exceptional leadership, inclusive cultures, and high standards of ethics and compliance have on business success. The recipients tonight have not merely met a set of criteria; they have demonstrated an unwavering commitment to fostering environments where people feel valued, engaged, and empowered to thrive.

The EFC’s mission is to champion the creation of responsible employers across the nation. Events like this are a cornerstone of that mission, providing a platform for us all to learn from one another and raise the collective bar for employment standards that merit reward. To all the winners, I extend my heartfelt congratulations on your outstanding achievements. Your dedication and commitment are a powerful signal to all employers across the globe.

On behalf of The Employers’ Federation of Ceylon, I would like to extend my sincere appreciation to the Chief Guest His Excellency, Santhosh Jha, High Commissioner of India, Keynote Speaker, Prof. Dave Ulrich, Guest of Honor, Mr. Ravi Peiris, Employer Specialist of the ILO Bureau for Employers’ Activities (ACT/EMP), Special Guest, Ms. Joni Simpson, ILO Country Director for Sri Lanka and the Maldives for accepting our invitation. I also thank the Chairman of the Panel of Judges and the Panel of Judges for their expertise and insights in their respective capacities.

Vajira Ellepola, Director General, Employers’ Federation of Ceylon

Odel PLC has appointed Dr. Trevor Mendis to its Board as an Independent Non-Executive Director.

He is a strategist, management consultant, banker, and a pracedamic who blends his wealth of hands-on local and global exposure into the corporate world. Presently he works as Senior Management Consultant and a Member of the Board of Study for the Postgraduate Institute of Management (PIM), University of Sri Jayewardenepura.

From humble beginnings as a Junior Banker, Dr. Mendis rose up in the ranks to Assistant General Manager, Corporate Planning and Business Development and Leasing in the banking industry. He has also worked at ANZ Bank, New Zealand, a Fortune 500 Company and was a member of the Strategic Planning Committee at ANZ bank for the North Shore Region of Auckland, New Zealand.

He shifted from banking to the consultancy and academic arena in 2008 and became the Chief Executive Officer of a private university in Sri Lanka. Since then, Dr. Mendis’ corporate and academic career trajectory has been phenomenal and impressive. He served as an External Consultant for the United Nations (Intl Trade Centre of Geneva) on two occasions and as a Lead Consultant for the Asian Development Bank (ADB) on many occasions in Sri Lanka. He was head hunted by the UN and the ADB on all these occasions.

He has served as a Non-Executive Director and the Chairman of the Strategic Direction Committee of the Sri Lanka Insurance Corporation in 2019 purely on merit. He has been bestowed with two international awards in Singapore and India on merit for his achievements.

He was a member of the Final Panel of Judges for the annual awards organized by the Institute of Chartered Accountants and National Business Excellence Awards organized by the National Chamber of Commerce (NCC). He has addressed Research Conferences as the International Guest Speaker and Chief Guest both locally and internationally.

He currently focuses on specialized arenas namely Strategic Affairs, International Trade, Corporate Governance, Re-engineering of Companies, Banking, Policy Formulation, AML, Data-driven Decision Making, Domestic Revenue Generation, Enhancement of Foreign Exchange Reserves, Socio-economic aspects, Sustainability, and Geopolitics as a Consultant and an Advisor.

He has evaluated more than 1,000 balance sheets across the world in his career. He possesses many unique selling propositions with unparalleled distinctive competences.

Dr. Mendis is an AIB qualified banker, with a Post Graduate Diploma in Financial Management from the Institute of Chartered Accountants in Sri Lanka. His first Master’s Degree is from the Postgraduate Institute of Management, University of Sri Jayewardenepura. His second Master’s Degree, (MSc in Management), is from the prestigious Massey University in Auckland New Zealand, and his Doctorate on Corporate Governance is from the University of Kelaniya.

The Sri Lanka Apparel Exporters Association (SLAEA) held its Annual General Meeting on 27 January 2026 at Cinnamon Life, bringing together industry leaders, policymakers and the diplomatic community to review sector priorities and reinforce Sri Lanka’s position in global apparel supply chains.

At the AGM, Rajitha Jayasuriya was reappointed as Chairperson for a second term, alongside the newly appointed Executive Committee comprising Jeevith Senaratne as Deputy Chairperson, Hasib Omar as Treasurer, and Indika Liyanahewage as Immediate Past Chairperson.

In her address, Jayasuriya pointed to the sector’s resilience in 2025, noting that apparel exports grew by 5.42% to reach $ 5.019 billion, with exports to the European Union rising 12.48% and non-traditional markets recording a 4.8% increase.

‘As we work to expand in Europe, the renewal of GSP+ must be treated as a national priority, because it protects momentum and safeguards access to one of our most important growing markets. With India having sealed its FTA with the EU, we will need to mobilise faster, to ensure Sri Lanka is not left behind,’ she stressed.

She also called for a wider competitiveness agenda beyond market access, including a dedicated trade office to prioritise key FTAs, faster export facilitation through the Single Window system and ETA, predictable fiscal administration including VAT refunds, and accelerated digital reforms such as the move towards a fiscalised e-invoicing system, building on the ongoing industry pilot integrating an API with RAMIS 2.0.

The AGM was attended by Chief Guest Acting Indian High Commissioner to Sri Lanka Dr. Satyanjal Pandey, representing High Commissioner Santosh Jha, and Guest of Honour Oniverse Group Founder Dr. Sandro Veronesi. Proceedings included remarks by the Chief Guest and Guest of Honour, the Chairperson’s address, and the launch of SLAEA’s revamped website.

Special guests included Industries and Entrepreneurship Development Deputy Minister Chathuranga Abeysinghe, alongside members of the diplomatic community including Damiano Francovigh, Rémi Lambert, Jayne Howell, Mohammad Ramadan, and Dr. Johanne Hess.

The AGM also recognised the presence of Joint Apparel Association Forum (JAAF) representatives Felix Fernando and Yohan Lawrence, underscoring continued industry alignment on trade, competitiveness and export reform priorities.

Sri Lanka’s renowned open-air art fair, Kala Pola, is set to bring alive the streets of Colombo with colour, creativity, and conversation as Kala Pola returns for its 33rd edition on 8 February, along Ananda Coomaraswamy Mawatha (Green Path), Colombo 7.

Conceptualised and introduced by The George Keyt Foundation in 1993, and sponsored and co-presented by the John Keells Group through an unbroken patronage since 1994, Kala Pola has grown into a cultural landmark that continues to reshape how visual art is showcased and experienced in Sri Lanka.

Remaining true to its founding philosophy, the event is proudly uncurated, providing participating artists and sculptors with the opportunity to showcase their talent, connect with art enthusiasts, learn from and network with other artists, and expand their clientele.

Kala Pola displays a broad variety of forms and styles, ranging from intricate sculptures, humorous caricatures, and abstract paintings to modern and traditional Sri Lankan art. Attracting art lovers, collectors, connoisseurs, and students from all parts of the country and tourists from various parts of the world, the event creates a vibrant, welcoming, and wholesome atmosphere spurred by music, camaraderie, art discussions, children’s art workshops, and an array of cultural performances.

As a longstanding and iconic visual art flagship amidst Sri Lanka’s vibrant calendar of arts and cultural events, Kala Pola continues to stand as a unique open-air platform for visual expression. By bringing together both established and emerging artists in an inclusive, uncurated setting in the heart of Colombo, the event fosters meaningful connections between creators and audiences, offering accessibility, diversity, discourse, and a shared appreciation for art among a wide cross-section of the public, while spurring the creative economy of the country.

Nations Trust Bank (NTB) also supports Kala Pola as its Official Banking Partner.

Arts falls within the focus area of ‘Social Health and Cohesion,’ which is one of the four focus areas of John Keells Foundation (JKF) – the Corporate Social Responsibility (CSR) entity of John Keells Holdings PLC (JKH).

In a continuous show of confidence, the biggest shareholder Fairfax International yesterday bought further into top blue chip John Keells Holdings PLC (JKH) with an investment of Rs. 4 billion.

Overall, JKH saw 194.438 million shares sold for Rs. 4.32 billion. Of that, Fairfax acquired 188.53 million shares at Rs. 22.20 each. JKH closed the day at Rs. 22.70, up by Rs. 0.30.

As at 31 December 2025, Fairfax (HWIC Asia Fund) held 4.5 billion shares or 25.5% stake in JKH. With yesterday’s purchase, the stake has increased to 26.5%.

The deal on JKH boosted the turnover at the Colombo Stock Exchange (CSE) to Rs. 11.1 billion.

In September last year, Fairfax picked up 1.3% stake for Rs. 5.2 billion, paying Rs. 23.20 per share. The seller then, as well as yesterday, was Norges Bank Account 2, whose portfolio is managed locally by Lynear Wealth.

Late last month, JKH announced strong earnings for the third quarter, with all businesses reporting improved profitability driven by momentum across the Group portfolio.

Group earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 68% to Rs. 23.76 billion in 3Q. Cumulative Group EBITDA for the first nine months of the financial year 2025/26 rose by 86% to Rs. 55.10 billion.

Sri Lanka has finally discovered a new unit of measurement in criminal law: the overnight transit.

Not a Bond scam. Not a vanished port. Not a procurement that evaporated billions.

A stopover.

At the centre of this legal theatre is Ranil Wickremesinghe, arrested, remanded, hospitalised, ICU-warded, passport impounded-and now hovering in the legal purgatory between prosecution and political performance.

The charge? Misuse of public funds.

The alleged crime? Accepting an invitation, while already in transit, to attend a luncheon.

Let’s slow this down. Carefully. Because facts, inconveniently, still matter.

The letter that started it all

The University of Wolverhampton sent a formal invitation to the President of Sri Lanka and the First Lady, routed through the High Commission of Sri Lanka. The purpose was explicit: a luncheon at which the First Lady would receive an honorary degree-same date, same function, same venue.

No subterfuge. No surprise cameo. No ‘by the way, your wife is being honoured’.

The invitation did not arrive via WhatsApp. It arrived through diplomatic channels.

Havana, London, Colombo – geography intrudes on criminal law

At the time, the President was returning from Havana, where he had attended a separate official engagement. There are no direct flights from Havana to Colombo.

This is not a policy choice. It is aviation.

A stopover in London is not indulgence; it is logistics.

On receipt of the invitation, the President informed his Secretary that he was minded to accept-precisely because he would be transiting London overnight in any event. He directed the Chief Accounting Officer of the Presidential Secretariat-that is, the Presidential Secretary-to handle the formalities.

Which is exactly how the system is supposed to work. Process, not impulse

The arrangements were made with the assistance of the High Commission in London, in concurrence with the Ministry of Foreign Affairs. Expenses relating to transport and security-from the stopover hotel to Wolverhampton and back to London-were met through official channels.

No additional flights.

No extended stay.

No deviation from the return route.

‘In other words, the state paid for movement that would have occurred anyway-unless one believes the President should have slept upright on a Heathrow baggage carousel to preserve fiscal purity.’

Enter the CID, stage left

The Criminal Investigation Department in Colombo investigated and decided to file charges-not only against the former President, but also to charge his Secretary for aiding and abetting.

Bail was opposed. Bail was refused. The former President was remanded.

His health deteriorated. He was admitted to the General Hospital Colombo, then transferred to the Intensive Care Unit. Only at the next hearing was bail granted-passport impounded, exit barred.

One might ask whether this sequence reflects prosecutorial necessity or prosecutorial enthusiasm.

The London expedition that wasn’t quite legal

A CID team travelled to the UK. Notably, they did not invoke the Mutual Legal Assistance Treaty-the very mechanism designed for such investigations.

Without MLA cover, they interviewed officials at the High Commission.

They reportedly did not visit the University.

Unconfirmed-but widely circulating-accounts suggest that some High Commission officials expressed the view that the visit was ‘private’, despite the invitation being addressed to the President of Sri Lanka and routed through diplomatic channels.

Views, however, are not evidence. And diplomacy does not operate on vibes.

The missing witness: the University itself

Because MLA was not invoked, the CID was reportedly unable to formally verify the invitation directly with the University or with its then Chancellor, Lord Swaraj Paul. Now deceased.

So we have a prosecution contemplating indictment without examining the issuing institution, relying instead – apparently – on internal opinion and inference.

That is not an investigation. That is improvisation.

The Attorney General’s dilemma

Inside the Attorney General’s Department, opinion is split.

Politically, an indictment would be a trophy.

Legally, it is-at best-a thin reed.

The President had to stop in London anyway.

The invitation was official in form and channel.

The expenses were coordinated by the High Commission and Foreign Ministry.

There is no evidence of route manipulation, personal enrichment, or fabricated classification.

To prosecute on this basis is to argue that a stopover becomes criminal if a luncheon intervenes.

So, what is this really about?

Officially, the Government has no role in the Attorney General’s decision.

Unofficially, Sri Lanka has never met a high-profile prosecution; it didn’t enjoy auditioning.

The real question is not whether the law can be stretched-but whether it should.

If this becomes an indictment, it will establish a remarkable precedent:

that a President, in transit, may not accept a formally conveyed invitation without risking arrest-unless he first confirms that gravity, distance, and airline timetables have been cleared by the CID.

That would not be accountability.

That would be absurd, wearing the wig of legality.

And Sri Lanka, already short on credibility, can afford neither.

Commemorating the launch of their brand-new Mexican resto-bar, Aitken Spence Hotels hosted an exclusive evening, with key stakeholders and notable personalities, to unveil Negombo’s newest food-and-bar destination ‘Iguana Cantina’

Iguana Cantina introduces a new Mexican dining and entertainment venue to Negombo which is designed to bring together bold flavours, signature beverages, and a vibrant social atmosphere. Located directly opposite Sentido Heritance Negombo and just steps away from the coastline, Iguana Cantina offers a setting shaped by the energy of the town and the oceanfront surroundings.

With a distinctive visual identity and an upbeat ambience, the venue is positioned as a new restaurant for both locals and visitors seeking an evening out in Negombo with the opening marking a complete refresh to the culinary landscape in the area where casual dining and a vibrant, lively atmosphere is seamlessly blended together.

The menu presents a selection of Mexican favourites created for sharing, alongside a range of impressive beverages, providing options for both daytime dining and evening occasions.

Iguana Cantina also launches with a recurring calendar of events, including weekly Ladies’ Nights, Salsa Nights, and All-You-Can-Eat Mexican Brunches, alongside seasonal celebrations inspired by Mexican culture and key dates such as Cinco de Mayo and Día de los Muertos. These experiences are intended to establish a consistent Program of entertainment while strengthening Iguana Cantina’s positioning as a year-round social venue.

Aitken Spence Hotels Managing Director Susith Jayawickrama said: ‘Iguana Cantina is designed to be a vibrant social venue for Negombo, bringing together bold flavours, unique beverages, and a lively atmosphere. We are pleased to open the venue to the public and introduce a refreshed dining and entertainment experience to Negombo.’

Iguana Cantina is now open to the public, welcoming guests for casual dining, group gatherings, and themed nights. For those looking to experience Mexican flavours and an energetic coastal atmosphere, Iguana Cantina invites guests to discover Your Favorite Fiesta in Negombo.

The EFC National Best Employer Awards 2025 mark a significant milestone in the 96 Year journey of the Employers’ Federation of Ceylon, and I warmly congratulate all winners for their achievements and contributions to society. Your response and support for this inaugural awards programme have been inspiring, reflecting our shared commitment to elevating workplace excellence in Sri Lanka. At a time of national

challenge, your leadership, innovation, and people-centered practices stand out asexamples for others to follow.

I am confident that this recognition will motivate you to grow further strengthening your organisations, expanding your impact, and emerging as regional and global competitors in the years ahead.

Dinesh Weerakkody, Chairman, Employers’ Federation of Ceylon

TRIZEN, by John Keells Properties, continues to redefine urban living with a thoughtful blend of design, technology, and lifestyle-focused amenities.

Comprising three towers with a total of 897 residential units, TRIZEN integrates smart home features with a comprehensive suite of facilities that cater to contemporary city life. Residents enjoy multiple swimming pools, two gyms, a rooftop badminton court, jogging and cycling tracks, social and function rooms, a mini cinema, kids’ play areas, and beautifully landscaped communal spaces, all crafted to foster active, connected, and convenient living.

Adding another dimension to this resident-focused experience, TRIZEN has unveiled Tea Avenue Daily Brew, brought to life in collaboration with Tea Avenue. Exclusive to TRIZEN residents, the café offers a welcoming space for casual dining, informal meetings, or simply a quiet moment to unwind, right within the community.

The café features a special menu created for TRIZEN, highlighting a selection of teas and café-style offerings perfectly suited to the pace and lifestyle of residential life. Every element of the space has been designed to complement the ease, comfort, and exclusivity that define TRIZEN.

John Keells Properties Head of Property Sector and John Keells Group Executive Vice President Inoke Perera, said: ‘TRIZEN’s living experience is defined by amenities that genuinely enhance daily life. Tea Avenue Daily Brew, adds a practical, resident-focused space where convenience meets community, giving residents yet another reason to enjoy life at TRIZEN.’

Tea Avenue Managing Director Sajeev De Silva said: ‘This collaboration allowed us to bring our café concept into a residential setting. Every aspect of the menu and service was designed exclusively for TRIZEN residents, with a focus on simplicity, consistency, and a welcoming experience.’

With the launch of Tea Avenue Daily Brew, TRIZEN continues to set a new benchmark in integrated urban living, offering thoughtfully curated amenities that enrich daily life while maintaining the privacy and exclusivity that residents value.