Category: Daily Financial Times

Global oil prices dropped significantly yesterday as concerns over Iran eased, and new supply data from the United States, Venezuela, and the Middle East fueled expectations of a more balanced and possibly oversupplied market in the near future, The Caspian Post reports, citing foreign media.

Crude benchmarks dropped by more than 3% after US President Donald Trump indicated that the violent suppression of protests in Iran appeared to be easing. His remarks, which suggested an absence of imminent large-scale executions or immediate military escalation, softened market anxiety over possible disruptions to Iranian oil flows. As a result, the geopolitical risk premium that had built up earlier in the week began to unwind.

Brent crude retreated to the mid-$64 per barrel range, while US West Texas Intermediate slipped below $60, both reversing gains that had pushed prices to multi-month highs only a day earlier. Analysts noted that while tensions in the Middle East remain unresolved, the immediate threat of supply disruption has diminished, reducing speculative pressure on prices.

Additional downward momentum came from US inventory data, which showed a larger-than-expected increase in both crude oil and petrol stocks. The rise pointed to softer short-term demand and reinforced concerns that supply growth may be outpacing consumption, particularly in mature markets.

Match tickets for the England tour of Sri Lanka 2026 can be now purchased via www.srilankacricket.lk, states a Sri Lanka Cricket media release.

The tour will consist of 3 ODIs and 3 T20Is. The ODIs will be played on 22, 24 and 27 January at the R. Premadasa International Cricket Stadium and the 3 T20Is on 30 January, 1 and 3 February at the Pallekele International Cricket Stadium.

TICKET PRICES (Rs.):

ODI at R. Premadasa

Grand Stand, Top Level 10,000

Block A: Upper Level 5,000

Block A: Lower Level 3,000

Block B: Upper Level 5,000

Block B: Lower 3,000

Block C: Upper 2,000

Block C: Lower 1,000

Block D: Upper 2,000

Block D: Lower 1,000

T20I at Pallekele

Grand Stand:

Top Level Box AC Box 20,000

Grand Stand:

Top Level ‘A’ 10,000

A Lower 5,000

B Lower 5,000

Grass Embankment 1,000

The Cabinet of Ministers this week approved a proposal to identify investors to develop selected areas of the Pelwatte Sugar Factory premises into tourist attractions under a public-private partnership (PPP).

‘There is potential to develop selected places of the Pelwatte Sugar Factory into tourist attraction locations,’ Cabinet Spokesperson and Minister Dr. Nalinda Jayatissa said at the weekly post-Cabinet meeting media briefing on Tuesday.

The Cabinet of Ministers approved the process to call for expressions of interest from eligible investors and to invite project proposals for the development of the factory premises through a PPP model.

The Pelwatte Sugar Factory is owned by Lanka Sugar Company Ltd., and the initiative aims to transform parts of the industrial site into tourism destinations, promoting both heritage and economic development.

Former 1997 Isipathana Ist XV rugby player and veteran banker Kelum Rodrigo was appointed Chairman of the Isipathana College Rugby Management and Development Committee for the 2026 season.

Kelum’s rugby journey at Isipathana College began at Under-13 level, progressing steadily through the age groups to represent the 1st XV, showing his commitment and consistency throughout his school career. He was a proud member of the legendary 1997 unbeaten Triple Championship-winning team under Vajira Hewage, a milestone season that remains etched in Isipathana rugby folklore and helped define the school’s dominance during that era. He played alongside, Sajith Malikarachchi, Shamli Nawas and Kapila Silva to name a few.

Following his school career, Kelum continued to play at the Mercantile Sevens circuit, representing Seylan Bank and Nations Trust Bank over a span of nearly 10 years. His leadership qualities were evident when he captained the Seylan Bank team in 2005, guiding them to become Cup Runners-up in a highly competitive tournament.

Beyond playing, Kelum has been a regular and committed member of the Isipathana College Rugby Committees since 2000, contributing to administration, development, and continuity. His appointment as Chairman for 2026 is both a recognition of past service and a strong step forward for the future of Isipathana rugby.

Nugegoda SWC who are lying third from Group A and Kurunegala YCC who are fourth from Group B will have to await the results of the final weekend of first round matches commencing today to know their fate whether they have qualified to play in the Super Eights of the Major Club 3-day League.

Both teams have completed their fixtures but are rather precariously placed as only a few points separate them from the club’s that are below them.

Only the top four clubs from each group qualify to play in the Super Eights, while the bottom six clubs will play in the Plate competition.

Bloomfield, Colts and Panadura SC are all breathing down the neck of Nugegoda SWC with only two points separating them. Defending champions Bloomfield who are lying fourth have an easy game against bottom of the group Chilaw Marians CC at the Galle Cricket Stadium. Colts will have to battle it out with Panadura SC at the CCC grounds.In a top of the table clash, Police SC and CCC will meet at the NCC grounds. Both teams have 4 wins out of 5 matches but Police SC hold onto an 11-point lead. At this point only Police SC look assured of a place in the Super Eights.

Group B is the most exciting, for apart from wooden spoonist Badureliya SC, the remaining six clubs all have an opportunity of finishing within the first four. Table leaders Moors SC have the easiest of assignments taking on Badureliya SC at the Colts grounds. BRC, second from the bottom have a tough task against second placed NCC at Surrey Village grounds, Maggona, and third placed Ace Capital CC confront Tamil Union at the Rangiri Dambulla Stadium.

It is going to be a decisive weekend for all the clubs as they strive to finish amongst the top four.

The National Chamber of Commerce of Sri Lanka announced the official launch of the National Business Excellence Awards (NBEA) 2026 on 14 January, celebrating a landmark 21st year of recognising excellence in Sri Lankan business.

Established in 2004, the NBEA has become the country’s premier business awards platform, applauding organisations that demonstrate exemplary business practices, strong governance, and a lasting contribution to national economic progress

The NBEA 2026 evaluation framework has been carefully designed to reflect the dynamic nature of modern business, with a strong emphasis on sustainability, ethical conduct, and social responsibility. The assessment criteria incorporate the UN Sustainable Development Goals (SDGs) and Environmental, Social and Governance (ESG) principles, recognising that today’s successful businesses must balance profitability with purpose. Organisations are evaluated on their commitment to creating long-term value for all stakeholders, fostering inclusive workplace cultures, and contributing positively to society.

The competition welcomes participants across five business categories Extra Large, Large, Medium, Small and Micro representing 29 diverse industry sectors, ensuring that businesses of all scales have the opportunity to showcase their excellence.

The comprehensive evaluation process begins with rigorous technical and financial assessments conducted by specialist panels, followed by detailed reviews and in-depth interviews with shortlisted candidates by the esteemed Panel of Judges. This multi-tiered approach ensures that only the most deserving organisations are recognised for their exceptional achievements. The winners will be celebrated at the Grand Awards Ceremony scheduled to take place later in 2026.

The NBEA represents more than just an awards program; it is a testament to the resilience, innovation, and excellence that define Sri Lankan enterprise. Organisations that participate benefit not only from potential recognition but also from the rigorous evaluation process itself, which provides valuable insights for continuous improvement and strategic development.

The High Commission of India in Colombo will host the Timeless Bollywood Melodies concert, as part of the celebrations of the 77th Republic Day of India, to be held on 23rd January 2026 at 6.30 p.m. at the Nelum Pokuna Theatre, Colombo.

The concert will feature Anuradha Paudwal, the iconic queen of Indian playback singing and the legendary voice of Bollywood’s golden era.

Pyramid Wilmar, a leading name in the food manufacturing and marketing industry in Sri Lanka, successfully concluded its island-wide Corporate Social Responsibility (CSR) initiative, ChefsHunt, a comprehensive program aimed at identifying, nurturing, and empowering young culinary talent across the country. The initiative was launched in collaboration with Sirasa Newsfirst, the Chefs Guild, and the National Apprentice and Industrial Training Authority (NAITA), in celebration of Pyramid Wilmar’s 20th anniversary.

Designed as a landmark initiative to contribute qualified professionals towards Sri Lanka’s foodservice industry, ChefsHunt culminated in a grand finale held at Stein Studios, Rathmalana, marking the successful completion of a three month long national program.

Pyramid Wilmar is a trusted provider of high-quality food products and culinary solutions, serving households and foodservice professionals across the island. Committed to quality, innovation, and sustainability, the company drives excellence through strategic partnerships with chefs and industry stakeholders.

This program was conducted nationwide, across 10 selected locations from Jaffna to Colombo, and was aimed at school leavers aged between 18 and 25. It had over 1000 participants, out of which most talented were selected through an extensive evaluation process. They received a scholarship to pursue a culinary course at the M W Institute of Culinary Arts which will qualify them to receive an NVQ Level 4 Certificate.

The program was designed to equip aspiring chefs not only with technical expertise, but also with critical competencies such as kitchen efficiency, food consistency, innovation, and professionalism-skills essential for sustainable career growth in today’s evolving culinary landscape. The program aimed to bridge gap between talent and opportunity by providing access to mentorship, technical training, competitive platforms, and real-world industry engagement.

‘Chefs are at the heart of our food culture,’ said Pyramid Wilmar Director/COO Thanveer Siddique. ‘With ChefsHunt, Pyramid Wilmar invested in the future of the culinary profession by creating opportunities for the next generation of chefs to showcase their talent, refine their skills, and gain exposure on a national stage.’

ChefsHunt stands as a significant corporate milestone for Pyramid Wilmar, delivering structured talent development. The program underscores the company’s commitment to purpose-driven CSR initiatives that contribute meaningfully to the advancement of Sri Lanka’s culinary sector, while leaving a lasting professional legacy for its participants.

Chinese Dragon Café (CDC), one of Sri Lanka’s most established names in Chinese cuisine, is already making a strong impression among diners in Galle, with customers responding positively to the brand’s arrival in the Southern Province.

The outlet, located on Colombo Road, Kaluwella, has quickly become a popular dining choice for families, professionals, and visitors seeking familiar flavours and consistent quality.

Known for its long-standing heritage and reliability, Chinese Dragon Café has attracted a loyal customer base in Galle, with many patrons expressing appreciation for the brand’s signature authentic Chinese cuisine and efficient service. Popular dishes, such as Hot Butter Cuttlefish, Seafood Rice served in a Banana Leaf, and a wide selection of rice, noodle, and seafood offerings have emerged as customer favourites, reflecting the same taste standards that have defined the brand for generations.

Established in 1942, Chinese Dragon Café has evolved from a small neighbourhood restaurant into a household name with a strong presence across major cities (Bambalapitiya, Mount Lavinia, Nugegoda, Rajagiriya, Pelawatta, Wattala, Kandana, Kaduwela, Jaffna) in Sri Lanka, as well as an international footprint in Dubai, United Arab Emirates. This legacy of experience is evident in the operational standards and menu consistency that customers in Galle have come to value.

In addition to dine-in services, the café’s free delivery, catering services, corporate meal solutions for training programs and events, and online ordering options have been well received, catering to the evolving needs of modern customers. These services contributed to the outlet’s steady performance and growing popularity within the region.

With its strong performance and positive reception in Galle, Chinese Dragon Café continues to reinforce its reputation as a trusted name in Sri Lankan Chinese cuisine, delivering flavours that resonate with both long-standing patrons and new customers alike.

The Brazil – Asia Chamber of Commerce has shown keen interest in participating in the Sri Lanka Expo 2026 this June and commenced initial discussions on deepening trade ties focusing in tea, cinnamon and opportunities in Port City in Colombo.

This was revealed at a recent discussion in Brazil between Ambassador of Sri Lanka to Brazil Chaminda Colonne with Brazil – Asia Chamber of Commerce (CBA) President Reginaldo Lante, on 14 January 2026 in Brasilia, focusing on its participation in Sri Lanka Expo 2026 a statement from the Sri Lankan Embassy in Brazil said.

The meeting was also joined virtually by Sri Lanka Export Development Board (EDB) Chairman Mangala Wijesinghe.

During the meeting, Wijesinghe highlighted the strengths of Sri Lanka´s business sector, particularly the country´s well-established apparel and rubber industries, as well as rapidly expanding information technology, machinery parts and advanced technologies sectors. He underscored the potential collaboration through the partnerships and joint ventures between Sri Lanka and Brazil. The Chairman also presented an overview of Sri Lanka Expo 2026, outlining the significant benefits and opportunities available to international companies visiting Sri Lanka during the event.

Ambassador Colonne noted that the current bilateral trade turnover with Brazil stands only $ 150 million, demonstrating the significant untapped potential for expanding trade and economic cooperation. The Ambassador requested the support of the Brazil – Asia Chamber of Commerce in strengthening economic, trade, investment and tourism with Brazil and the Latin America region.

Lante, sharing the role of the Brazil – Asia Chamber of Commerce in facilitating business linkages between Brazil and Asian countries, expressed strong interest in Brazilian companies participating as exhibitors at Sri Lanka Expo 2026, recognising the event as a valuable platform for market entry and collaboration.

Ambassador Colonne and Lante discussed opportunities to increase bilateral trade, focusing initially to enhance business linkages in tea and cinnamon. The discussion also extended to potential investment opportunities, generating considerable interest among Brazilian stakeholders. Both agreed to follow-up meetings involving Sri Lanka Tea Board, Spices and Allied Products Marketing Board and the Colombo Port City Economic Commission, aimed at presenting comprehensive investment and business opportunities in Sri Lanka to Brazilian companies and investors.

The meeting was attended by Brazil – Asia Chamber of Commerce Vice President Rogerio Gabriel Alves, EDB Market Development Division Actg. Director Saumya Kannangara; Assistant Director, Erandi Shyamali and Embassy of Sri Lanka Minister Counsellor (Commercial) Chathurika Perera.