Aasiri Gunasekera ends 40-year plus stint at E&Y

Ernst and Young has announced the retirement of Aasiri Gunasekera as Partner of the firm with effect from 31 December 2025, after having served them for over four decades.

‘During his long association with EY, Aasiri Gunasekera has made a significant contribution to the Firm and to the clients he served, and we take this opportunity to thank

him for his dedication and commitment,’ EY said.

The firm also announced the its practice will now be carried on by Country Managing Partner Duminda Kaluwalgoda Hulangamuwa, Professional Practice Director Yasmin Anoji De Silva, Head of Assurance Gayathri Geethanjali Seneviratne Manatunga, Weerawarna Kurukulasooriya Boosabaduge Sanath Prasitha Fernando, Head of strategy and Transactions Buwanesh Ediriweera Wijesuriya, Head of Consulting Ranil Nilhan De Saram, Head of Tax Nishtar Muhammed Sulaiman, Ladduwa Kovisge Hiranthi Lanka Fonseka, Pannila Vithana Koralalage Nayana Sajeewani, Amarasinghe Arachchige Jude Rajith Perera, Nawalage Yasanjana Rasika Lakmal Fernando, Damith Niwantha Gamage, Charith Anuruddha Yalagala, Shehani Pomesha Paranavitane, Balakrishnan Vasanthan, Wannakuwatta Waduge Don Pradeep Lakshitha Perera, and Mohamed Umar Mohamed Mansoor.

Thanthirige Praveen Manojith Ruberu, George Brian Goudian, Danushka Lahiru Bandara Karunathilaka, Widanarallage Shanaka Jude De Silva, and Velauthapillai Shakthivel will function as Principals of the Firm.

Politicising the post of Auditor General

The Auditor General is a highly critical position within the structure of public administration in the country, and he or she heads the National Audit Office (NAO) – a crucial independent constitutional office responsible for auditing public finances, ensuring accountability, and reporting to the Parliament.

In unprecedented circumstances, the key post which is responsible for ensuring the accountability of state finances, has remained substantively vacant since last April under a political administration which championed the virtue of accountability and transparency in public spending before coming into power.

President Anura Kumara Dissanayake’s nomination to the coveted post has been rejected by the members of the Constitutional Council (CC) on 3 occasions so far and the State has been without an Auditor General (either acting or permanent) since 7 December. The President’s most recent nominee O.R. Rajasinghe – the Internal Audit Director of the Sri Lanka Army – was voted down by the members of the CC two weeks ago. During the CC meeting, at which the President’s nominee was taken up for voting, only four members had voted in favour of the nominee while five had voted against. Meanwhile, a prominent Opposition legislator has already voiced his displeasure about the inability of the Committee on Public Enterprises (COPE) and the Committee on Public Accounts (COPA) – key parliamentary oversight committees – to undertake their functions after 6 January 2026, due to the non-appointment of an auditor general.

Last week, the Bar Association of Sri Lanka (BASL) urged President Anura Kumara Dissanayake to take immediate steps to appoint a permanent Auditor General in accordance with the Constitution, stressing that such an appointment was essential to safeguard the integrity of the NAO and to maintain the confidence of citizens as well as international partners in the State’s financial governance while expressing deep concern over the prolonged failure to appoint a permanent Auditor General following the retirement of the former Auditor General in April 2025. Even Chair of the Committee on Public Finance (COPF), Dr. Harsha de Silva, in a letter addressed to the President, emphasised that absence of an Auditor General disrupts constitutional mandates under Articles 148 and 154, which grant the legislature control over public finances. Analysts have pointed out the necessity of having a permanent Auditor General at a time when the nation is currently emerging from a severe financial crisis with the assistance of the International Monetary Fund under the Extended Fund Facility program, as well as support from other international agencies in addition to receiving substantial financial assistance from foreign bilateral and multilateral donor partners in the aftermath of the disaster caused by Cyclone Ditwah.

Concerns have been expressed by the representatives of the civil society as well as good governance activists about the Government’s moves to appoint individuals who are personally and politically affiliated to the NPP administration, which undermines the independence and autonomy the post of Auditor General is vested with by the constitution of the country. The powerful official does not come under the supervision of any Minister or officer of the Government and are entitled to access all necessary documents and information.

People could recall how the NPP/JVP severely criticised former President Mahinda Rajapaksa when he appointed Mohan Peris, a personal friend of the former, as Chief Justice in 2013. It is quite strange that a political coalition which pledged to break free from business as usual is attempting to do the very things they vigorously opposed not so long ago. Few months ago, the President nominated H.T.P. Chandana, an audit officer at the Ceylon Petroleum Corporation, to the highly sensitive position. The nominee was said to be a contemporary of Dissanayake at the University of Kelaniya.

Nevertheless, the Government must take swift action and appoint an Auditor General without unwarranted delay to ensure the integrity of public financial transparency without trying to politicise one of the most critical state institutions.

ESOFT UNI unveils new Jaffna Campus

ESOFT UNI (ESU) marked a major milestone in its national expansion with the inauguration of ESU Jaffna reinforcing ESOFT UNI’s long-standing commitment to advancing higher education in the Northern Province, where it has been a pioneer for more than 15 years.

Established in 2009 on Navalar Road, Jaffna, ESOFT Metro Campus Jaffna has supported thousands of students through Diploma and Higher National Diploma (HND) pathways in providing more accessibility for education in the region. Today, as it transitions into ESOFT UNI, the Jaffna campus expands its academic portfolio across Information Technology, Business Management, Engineering, Hospitality Management, and Languages, supported by modern labs, internationally aligned curricula, and strong global affiliations. As Sri Lanka’s only Pearson Platinum Partner, ESOFT UNI, in collaboration with London Metropolitan University and Kingston University, allows students in the Northern Province to pursue internationally recognised degrees without having to leave their region.

ESOFT Metro Campus and ESU Chairman and Group Managing Director Dr. Dayan Rajapakse said, ‘When I first started ESOFT Metro Campus in Jaffna over 15 years ago, I saw both the incredible potential of our youth and the heavy burden on parents who had to send their children away for advanced higher education. I believe that with ESU Jaffna, students will have the opportunity to pursue globally recognised, industry-relevant programs close to home, without needing to relocate for such opportunities. What we’ve witnessed in Jaffna over the years is clear, when barriers are removed, our children thrive.’

ESOFT UNI – Jaffna Pro Vice Chancellor Prof. S. Mohanathas said, ‘The new ESOFT UNI Jaffna campus marks an important milestone, providing students in the Northern Province with access to high-quality higher education in modern, fully equipped facilities. I believe that ESOFT UNI Jaffna opens a new educational journey that will equip future generations with the knowledge, skills, and opportunities they need to thrive.’

Combining its expanded infrastructure and upgraded academic model, ESOFT UNI Jaffna stands poised to become one of the most comprehensive private higher-education hubs in the Northern Province. Alongside its Colombo and Kandy campuses, ESOFT UNI continues its mission to make accessible, globally competitive higher education available to students across the country.

Sri Lanka eyes 3 m tourist arrivals and $ 5 b revenue in 2026

Sri Lanka Tourism Chairman Buddhika Hewawasam yesterday expressed confidence that the momentum built in 2025 would carry into the coming year, projecting 3 million tourist arrivals and $ 5 billion in tourism revenue in 2026, supported by stronger demand, improved connectivity and renewed investor interest.

Speaking on the year-end performance, he said Sri Lanka officially surpassed its previous record of tourist arrivals from 2018 on 29 December, seven years after the benchmark was first set.

‘We hope to end 2025 with around 2.35 million arrivals and a revenue in the range of $ 3-4 billion,’ Hewawasam said, confirming that the island has delivered a historic recovery year despite multiple shocks.

He described the achievement as a significant milestone, particularly given the series of crises the country has endured, including economic turmoil and the recent Cyclone Ditwah.

‘This year made it historic and December will also have its highest arrivals too,’ Hewawasam said, noting that the year-end momentum had remained intact even after the cyclone.

He said the sector’s rapid rebound following Cyclone Ditwah was especially noteworthy. ‘Despite the scale of the natural disaster, Sri Lanka recorded no tourist casualties or complaints, which he said helped reinforce international confidence in the destination,’ he added.

According to Hewawasam, Sri Lanka’s 2025 performance represents a growth of about 7-8% compared to the 2018 peak year, underlining the strength of the recovery rather than a mere return to pre-crisis levels.

With arrivals expected to close around 2.35 million, the outcome aligns closely with the revised lower-end forecasts for the year, after the original target of 3 million tourists and $ 5 billion in earnings was scaled down.

He stressed that tourism remains key to Sri Lanka’s broader economic revival, highlighting its role as a key source of foreign exchange, employment generation and investment attraction.

‘We hope the benchmark set by this year will be a springboard for better 2026,’ Hewawasam said, signalling optimism that the industry is entering a more stable and expansionary phase after years of disruption.

United Motors donates Rs. 10 m to ‘Rebuilding Sri Lanka’ FundUnited Motors donates Rs. 10 m to ‘Rebuilding Sri Lanka’ Fund

United Motors Lanka PLC has made a financial contribution of Rs. 10 million to the ‘Rebuilding Sri Lanka’ Fund, which was established to support the restoration of livelihoods and the reconstruction of the country following the devastation caused by Cyclone Ditwah.

The cheque was formally handed over to Secretary to the President Dr. Nandika Sanath Kumanayake by United Motors General Manager Raveendra Siriwardana and Group Chief Operating Officer Charaka Perera.

Cabinet clears liquidation of Sahasya Investment

The Cabinet of Ministers on Monday approved the liquidation of the State-owned Sahasya Investment Company and decided to place the management of the country’s expressway network under a dedicated operational unit of the Road Development Authority (RDA), citing legal, institutional, and operational concerns.

Sahasya Investment Company was approved for establishment by the Cabinet on 12 October 2020 with the objective of maintaining highways, identifying strategic approaches for expressway development and deploying modern technologies to reduce operational costs. Subsequently, Cabinet approval was granted on 25 March 2024 to formally assign the daily operations and management of expressways to the company.

However, the Government has noted that since its inception, Sahasya Investment Company has failed to commence operations or undertake any activities aligned with its stated objectives. ‘No tangible progress has been made in expressway management, maintenance or technological integration under the company’s mandate,’ Cabinet Spokesman and Minister Dr. Nalinda Jayatissa said at the weekly post-Cabinet meeting media briefing yesterday.

He said under the approved decision, the expressway network, associated lands and related activities will be managed through a separate operational unit established within the RDA.

The RDA, established under the Road Development Authority Act No. 73 of 1981, is legally entrusted with the planning, design, construction and maintenance of national roads and expressways. ‘The Cabinet observed that the RDA already possesses the required technological expertise, institutional capacity and long-term vision necessary for effective asset management of the country’s expressway infrastructure,’ he said.

The joint proposal to this effect was submitted by President Anura Kumara Dissanayake in his capacity as Finance, Planning and Economic Development Minister, together with the Transport, Highways and Urban Development Minister Bimal Rathnayake.

ComBank, Mastercard launch Lanka’s first Dynamic Currency Conversion for online payments

As part of Commercial Bank of Ceylon’s sustained efforts to strengthen tourism-related businesses and improve convenience for foreign travellers, the Bank has partnered with Mastercard to introduce Sri Lanka’s first Dynamic Currency Conversion (DCC) capability for online payments, marking a significant milestone in the country’s digital payments landscape.

Enabled via the Mastercard Payment Gateway Services (MPGS) platform, the new DCC feature allows international cardholders making online purchases from Sri Lankan merchants and to pay in their home currency at checkout.

This first-of-its-kind capability for online payments in Sri Lanka is designed to help local merchants grow their business by making it easier for foreign travellers to book and pay online with confidence. By enabling Mastercard Payment Gateway Services (MPGS) with Dynamic Currency Conversion (DCC), Sri Lankan merchants, particularly in travel, hospitality and leisure can offer overseas customers a more transparent checkout experience when making reservations for flights, accommodation and related services.

DCC offers foreign cardholders the option to view and confirm the final transaction amount in their home currency before completing an online purchase, rather than being charged in Sri Lankan Rupees. The exchange rate and any associated fees are displayed upfront and processed in real time, removing uncertainty caused by fluctuating exchange rates or unexpected charges after the transaction is completed.

The solution is delivered in collaboration with global DCC provider FEXCO, with Euronet Worldwide providing the advanced switching and processing infrastructure that supports real-time currency conversion, transaction processing, clearing and settlement. Together, the partners enable a seamless, transparent and secure payment experience for cross-border online transactions, extending a capability that Commercial Bank has successfully offered for point-of-sale and in-store payments since 2019, into the fast-growing e-commerce space.

Commercial Bank Managing Director/CEO Sanath Manatunge said: ‘We have always been at the forefront of digital innovation, and introducing Sri Lanka’s first Dynamic Currency Conversion service for the Mastercard Payment Gateway is a testament to our commitment to merchants and the national economy. This collaboration with Mastercard enables us to offer our merchant base a competitive advantage, a new revenue stream, and a world-class payment experience that is transparent and convenient for every international shopper. This is a crucial step in supporting Sri Lanka’s drive to attract more digital foreign revenue and promote tourism.’

Mastercard, Sri Lanka and Maldives Country Manager Sandun Hapugoda said: ‘Mastercard congratulates Commercial Bank of Ceylon for pioneering this milestone. The introduction of DCC brings global payment best practices to Sri Lanka, empowering international cardholders with choice and transparency when making payments. The bank has fully leveraged MPGS capabilities, including advanced features like Transaction Risk Management (TRM). MPGS serves as a versatile solution for merchants of all sizes, from small businesses to complex models such as payment aggregators and facilitators. This achievement is the result of seamless collaboration and technology integration with partners like FEXCO and Euronet, making this much-needed solution a reality for the market.’

The unheard Sirimavo story that matters to business leaders

What a moment at Sirimavo Bandaranaike College quietly teaches CEOs and boards

Leadership lessons rarely come from boardrooms. Sometimes, they arrive on a school stage.

At a recent Colours Night event at Sirimavo Bandaranaike College, a student’s unexpected speech altered the emotional temperature of the room within seconds. Attention sharpened. Emotions rose. Within hours, the moment travelled far beyond the school gates, drawing admiration, debate, and national attention.

Yet the real lesson was not in the speech itself.

It was in the leadership moment it created, one where words, timing, emotional regulation, and even a simple human gesture could have quietly neutralised the situation.

For business leaders, this moment offers far more than commentary. It offers a masterclass in human leadership.

Leadership is decided in seconds, not titles

In emotionally charged moments, leadership is not defined by position or seniority. It is defined by who regulates the room.

Behavioural neuroscience shows that when surprise and emotion enter a space, the brain does not search for hierarchy. It searches for stability. The calmest nervous system present becomes the reference point for everyone else.

At Sirimavo, three nervous systems were activated simultaneously. The student’s emotional brain, driven by perceived fairness and identity. The audience’s mirror neurons, amplifying emotion across the room. And the authority’s pressure response, shaped by responsibility and public scrutiny.

What happened next depended entirely on whether calm appeared or not.

The power of accepting the moment

Now imagine the principal stepping forward calmly and saying, ‘I understand we are running behind time, but I will give you two minutes to express your opinion.’

This is not surrender. It is neurological leadership.

By accepting the moment instead of resisting it, the emotional charge begins to dissolve. The student feels acknowledged. The audience senses confidence rather than fear. Authority is preserved without force.

Neuroscience is clear on this point. Suppressed emotion escalates. Acknowledged emotion stabilises.

When moments like this are not accepted immediately, they rarely disappear. They simply migrate beyond the institution, often louder, more distorted, and far harder to manage.

Why words after the moment matter even more

Once the speech ends, the room remains emotionally primed. This is where many leaders unintentionally lose control by explaining too soon.

The human brain does not absorb logic until it feels emotionally safe.

Now imagine the response continuing in a calm tone, explaining that in games and awards there are wins and losses, that selections are based on defined criteria and a panel process, and that while disappointment is understandable, processes exist to ensure fairness. Acknowledging that mistakes can occur and inviting a review shifts the narrative from confrontation to resolution.

This sequence works because it mirrors how the brain processes information. Emotion must be addressed first, explanation follows, and resolution comes last.

Reverse this order and even the most accurate explanation fails to land.

Why this is the same mistake brands make with online reviews

This is where the Sirimavo moment directly connects with modern business realities.

Negative online reviews trigger the same neurological response in organisations as public dissent does on a stage. Threat perception rises. Defensiveness follows. Many brands rush to justify policies, deny responsibility, remain silent or the worst to delete and block the reviewer if possible.

The brain reacts badly to all of these.

Behavioural neuroscience shows that when a dissatisfied customer leaves a negative review, they are not seeking a policy explanation first. They are seeking acknowledgment. Brands that recover fastest respond calmly, recognise emotion, and only then explain process, often moving the conversation away from the public space.

Just as with the Sirimavo incident, the response often matters more than the issue itself.

Why a hug can achieve what authority cannot

If the student had declined to accept her award, calling her back, offering a warm hug, and presenting the award would likely have ended the narrative instantly.

Not as an apology.

Not as an admission of fault.

But as human assurance.

From a neuroscience perspective, gestures of empathy trigger oxytocin, reducing defensiveness and restoring trust. The brain shifts from confrontation to connection. In business, the same principle applies when leaders personally reach out to upset clients, acknowledge long-serving employees, or show visible empathy during difficult transitions.

No public controversy survives genuine dignity.

This is not about crisis moments alone

Many leaders mistakenly believe behavioural neuroscience applies only to dramatic incidents.

In reality, these principles are equally powerful in resolving long-standing organisational challenges. Persistent team conflicts, cultural resistance to change, unresolved customer trust issues, and disengaged employees often remain unsolved not because solutions are unavailable, but because the human brain remains in a defensive state.

Small behavioural adjustments, when applied consistently, can unlock progress where strategy alone has failed.

Leaders are not born with this skill

There is a persistent myth that some leaders are naturally better at handling people.

Neuroscience tells a different story.

Emotional regulation, cognitive reframing, empathy sequencing, and calm authority are trainable skills. They develop through awareness, practice, and experience. Great leaders are not born calmer. They are trained to remain calm under pressure.

This is why some leaders defuse tension effortlessly, while others escalate situations without intending to.

Why this matters in business

In corporate settings, these moments appear every day. A tough question at a town hall. A tense board discussion. A conflict that refuses to settle. A damaging online review that lingers unanswered.

Leaders who understand behavioural neuroscience do not fight these moments. They reframe them. They do not suppress voices. They stabilise environments.

This is not soft leadership. It is commercially intelligent leadership.

The quiet lesson from Sirimavo

The Sirimavo incident was not about rebellion or failure.

It was a reminder that leadership today is about managing human responses, not just systems. Sometimes the right words at the right moment prevent months of fallout. Sometimes a hug protects a brand better than a press release. Sometimes a calm response to a negative review does more than a marketing campaign.

And the most important insight of all is this.

These are not gifts reserved for a few. They are skills any leader can learn, refine, and apply, in moments big and small.

That is where modern leadership truly begins.

(The author is a Neuro-Marketing strategist and business consultant, behavioral neuroscience researcher and Brand Ambassador for Sri Lanka – CIM UK)

Hayleys Fentons named SL’s Best Integrated Engineering Solutions Provider at World Business Outlook Awards 2025

Hayleys Fentons Ltd., has been recognised as the Best Integrated Solutions Provider in Engineering Services in Sri Lanka at the World Business Outlook Awards 2025, held in Bangkok, Thailand, marking a significant milestone in the company’s century-long legacy of engineering excellence.

Presented on a global platform, this international recognition positions Hayleys Fentons Ltd., among the world’s leading engineering services providers, reinforcing its ability to operate at the highest international standards while clearly distinguishing itself from local counterparts.

‘This award is a proud moment for all of us at Hayleys Fentons Ltd. It recognises our unwavering commitment to delivering sustainable and innovative engineering services for a better life. Our teams’ dedication, technical expertise, and customer-centric approach continue to drive excellence across all sectors we operate in,’ said Hayleys Fentons Ltd., Managing Director Hasith Prematillake.

The World Business Outlook Awards honour organisations that demonstrate industry leadership, strong global vision and sustained business performance, with winners selected through a rigorous evaluation by an expert and independent panel of judges.

The achievement is a testament to the dedication, professionalism, and technical expertise of its teams, whose collective efforts continue to set benchmarks as a trusted partner for integrated engineering solutions both locally and regionally.

Syria to launch new currency from 1 January

Syria is set to introduce a new national currency starting 1 January Syria Central Bank Governor Abdulkader Husarieh announced.

Husarieh described the move, outlined in Decree No. 293 of 2025, as a ‘pivotal national milestone’ and the beginning of a new economic and monetary phase for the country’, a Syria Arab News Agency (SANA) report said.

Under the decree, the Central Bank has been granted authority to set the timelines and locations for the currency exchange, Husarieh said, pledging that the process will be smooth and well-organised.

He added that the procedures will be explained clearly and transparently during a dedicated press conference, aimed at enhancing public confidence and reinforcing the partnership between the bank and citizens.

Speaking on the significance of the new currency, Husarieh said it symbolises Syria’s financial sovereignty following liberation and represents a step toward economic stability and development.