Category: Daily Financial Times

President Anura Kumara Dissanayake yesterday reaffirmed his Government’s zero-tolerance policy towards racism and pledged to fully resolve the housing problems of all families displaced by the war during his term of office, as he launched the 2026 National Housing Program in Jaffna.

Speaking at the inauguration of the national housing initiative titled ‘A Place to Belong – A Beautiful Life’ at the Weerasingham Primary School grounds in Meesalai, Chavakachcheri, the President stressed that the Government will not allow racial tensions to be incited anywhere in the country, whether in the North, South or East, including around heritage or religious sites.

The initiative targets 31,218 families countrywide, including 2,500 war-displaced families from the North and East.

Under its first phase, 800 war-displaced families in the Jaffna District will receive Rs. 2 million per house, with the first tranche of Rs. 300,000 cheques distributed at the event.

Dissanayake said prolonged delays in rebuilding homes destroyed during the war were unjust and pledged that no family displaced by the conflict would be left without a permanent home under his administration.

He also highlighted broader plans to uplift the Northern Province through housing, education, livelihoods, tourism and infrastructure development.

He underlined the Government’s commitment to reconciliation, inclusive development and rebuilding public trust, noting that years of conflict-driven politics had harmed both the North and the South.

The President called on citizens to work together to build a harmonious, conflict-free country for future generations.

The Ilankai Tamil Arasu Kachchi (ITAK) has formally opposed the Government’s Praja Shakthi program, arguing that it operates outside established state structures and undermines elected local institutions.

ITAK Media Spokesperson and former Member of Parliament M.A. Sumanthiran said the initiative amounts to a party-driven mechanism running parallel to the official administrative framework, setting what he described as an unhealthy precedent.

‘The development work that should be carried out by the Local Government representatives elected by the people is being carried out through the Praja Shakthi program, thereby obstructing the activities of those institutions,’ Sumanthiran said.

He added that ITAK views the program as inconsistent with constitutional principles and indicated that the party intends to pursue legal action against it at a later stage.

The Zen Café in Jaffna is a typical sample of youth entrepreneurship that focuses on youth integration across ethnicity.

It is the only café in the entire North of Sri Lanka where you find Sinhalese Baila songs alongside Tamil music.

It is a place where one has no chance for seats after 3pm when the Jaffna university student population – Tamil youth, Sinhalese and Muslims converge in throngs.

The positive vibe is palpable.

If you are jaded in your thinking and feel that life is over for you, then try going to the Zen Café in Jaffna. It is located in Kokuvil close to the Jaffna University. You may see life differently and realise the happiness that young people feel eating the simplest of snacks is best emulated across all age boundaries.

This café is run on the philosophy of peace. It is the soul effort of two brothers, aged 22 and 25 who had taken it upon themselves to uplift their family while freeing themselves from the ‘Nine-to-Five’ structure. What we place today here is not a detailed description as we would like (on account of page space limitation) on this signature sample of what youth entrepreneurship could mean for national unity. However this is a synopsis that matches our main write up on Northern investment.

The Zen Café is on rented premises and has been in existence for the past 10 months. The brothers last month secured a loan from DFCC bank, which they considered a major achievement. They applied the loan to rent another part of the same property so that they can extend the café.

‘My brother gave the name for the café. He liked the word Zen which is interpreted as another word for peace in Buddhist linguistics. For him peace is important and he looks at different ideas across the world – he found the Japanese term Zen,’ says 22 year old Thevarasa Kesavaraj known to his friends as Kesap.

His brother, Thevarasa Sayanthan is more mature for his years having taken on family responsibility from a young age. When we meet him last month he was happy because he had just secured the bank loan.

‘I am really happy with this bank. They understood what we are really doing here and did not stress us by taking a long time to decide to give us the money. The decision and the processing was quick. I currently employ four other young people and plan to recruit about two more,’ he explains.

He hopes to be the pioneer of a chain of businesses. Neither he nor his brother has any dearth of business ideas. Within 10 months they created the Zen Café to be an iconic youth hang-out that is known as an instant mood-lifter.

The food is outsourced and affordable. The tea and coffee is worth the money and is what suits a student budget. This is a place that has great potential to be a haven for foreign backpackers who want to witness the youth scene in the North. What gets you first is the music. There is high beat songs that is Sinhala, Tamil and English. The song Sumihiripanewill will ring in your ears – telling you not to hoard money but just realise that you will soon go to your permanent bed, the coffin, so be happy till then. There is a range of happy-go–lucky Sinhala songs. There are the zappy Tamil pop songs as well as the occasional Hindu spiritual melody. When asked if the two brothers understand Sinhala and how they chose such wonderful songs – both for their humourous lyrics and de-stressing tunes – the answer is that they ‘just listened and felt the vibe.’

‘My brother and I do not understand Sinhala. However we love Sinhala songs. We select the songs we feel happy when we listen to them,’ explains Sayanthan who has worked in diverse jobs from labourer to bank clerk and mid-executive positions.

Of a sensitive nature although he projects a rational image, Sayanthan tears up when he narrates how much of a gamble it was to set this café up.

‘We sold the house. Life had become so challenging. I promised my parents that I would soon make a success of this, along with my brother, and we will buy them a better house. I told them we would set up within three years a chain of businesses. We will leave our legacy,’ he vows.

Has any of the representatives from institutions such as chamber of commerce ever visited their café to ask what they need in terms of support? The answer is no.

In separate discussions with seasoned businessmen, I asked if they know this café and several other youth led eateries and hang out spots. None of them do. We provided them the links of youth entrepreneurship write-ups featured in this page and we hope to share this as well to those dealing in investment promotion for the North. – (SV)

As she prepares to depart Colombo after nearly four years, outgoing United States Ambassador Julie Chung struck a warm but forward-looking note, reflecting on a tenure marked by deepened economic ties, stronger security cooperation and sustained US engagement during Sri Lanka’s most severe economic crisis, while expressing confidence that the bilateral partnership will continue to expand across trade, investment and strategic cooperation in the years ahead.

‘It has been a privilege serving these last four years as US Ambassador to Sri Lanka. As I prepare to depart, I’m grateful to everyone who followed and engaged in advancing the US-Sri Lanka relationship during my time here,’ Ambassador Jung said in a post on X which included a warm video farewell message to Sri Lanka.

Here video statement is as follows:

‘Hello my dear Sri Lankan friends and colleagues. As I prepare to leave Sri Lanka after nearly four years, I’m proud of the results we delivered.

Together with Sri Lankans across the country, we strengthened security cooperation, expanded economic ties, and reinforced a partnership that makes both the United States and Sri Lanka safer and stronger. I depart knowing the Sri Lankan relationship rooted in our shared history and democratic principles will remain vital in the Indo-Pacific.

When I arrived in 2022, Sri Lanka was navigating a significant economic and political crisis.

What I found, however, was a nation determined to move forward in this crucial moment that the United States stood firmly alongside the Sri Lankan people, supporting stability, recovery, and a stronger partnership for the future. Together, we marked the 75th anniversary of US-Sri Lankan relations, and today, after 77 years of progress and shared challenges, our relationship continues to grow. Serving here as Ambassador has been one of the great honours and blessings of my life.

Everything we’ve done together, from strengthening security and port infrastructure to supporting key programs, has helped protect American interests while building a strong partnership with Sri Lanka. So to the people of this beautiful island, thank you. Your art, stories, resilience, and spirit will always stay with me.

As I say farewell, I leave proud of what we accomplished and confident of what comes next. There’s something truly magical about Sri Lanka. Thank you, Sri Lanka’.

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.