LB Finance announces Rs. 20 b debenture issues

Dhammika Perera’s LB Finance PLC has received regulatory approval for two debenture issues to raise a total of Rs. 20 billion.

The first is for 50 million listed, rated, senior, unsecured, redeemable debentures with an option to issue a further 30 million debentures upon oversubscription of the initial issue and with a further option to issue up to a further 20 million in the event of an oversubscription of the initial issue and the second tranche to raise up to a maximum amount of Rs. 10 billion.

The company is also proposing to offer 50 million listed, rated, subordinated, unsecured, redeemable debentures with an option to issue a further 30 million debentures in the event of an oversubscription of the initial issue and with a further option to issue up to a further 20 million in the event of an oversubscription of the initial issue and the second tranche to raise up to a maximum amount of Rs. 10 billion.

The right to exercise the options will be on discretion of the company.

The Department of Supervision of Non-Bank Financial Institutions of the Central Bank of Sri Lanka has approved the debenture issues.

The Company proposes to have these debentures listed on the Colombo Stock Exchange subject to receipt of the requisite approvals from the exchange.

LB Finance reported a Rs. 276 billion asset base as at 30 June with retained earnings amounting to Rs. 41.3 billion. Its deposit base was Rs. 145 billion and its loan book was Rs. 223 billion as at 30 June. Debt instruments and other borrowed funds amounted to Rs. 19.8 billion.

IDL appoints Indhu Selvaratnam as Deputy Chairperson

nternational Distillers Ltd. (IDL) has announced the appointment of Indhu Tissanayagam Selvaratnam as Deputy Chairperson of the Board, with effect from 1 October.

Selvaratnam is an Associate Chartered Management Accountant (ACMA) with international education credentials, having completed her primary education in Colombo, and her secondary education in Hong Kong, she later obtained her BSc in Accounting and Finance from the London School of Economics in the UK.

Selvaratnam has been on the Board of International Distillers Ltd., since 2010, serving as an Executive Director for fifteen years. She currently manages the group’s investments and finances. Prior to joining IDL, Selvaratnam served as Vice President at Amba Research Lanka Ltd., where she managed a team of analysts providing investment research to institutional investors and banks across the company’s offices in Colombo, Bangalore, and Costa Rica.

She also serves as a Director of East India Holdings and associated companies, and SOZO Beverages (Pvt) Limited, and sits on several private sector boards.

The IDL Board comprises of Chairman/Managing Director R.S. Tissanayagam, Deputy Chairperson/Executive Director Indhu Selvaratnam, Executive Director Dr. Kemal De Soysa, and Non-Executive Director J.M.S. Brito.

Leading with authenticity and accountability: Insights and impacts

Leadership is often misunderstood as positions and titles without referring to decisions and actions. One common complaint around the globe is that the so-called leaders give lame excuses to avoid accountability of their own actions. It also shows the need for authenticity in required actions. It may be true not only for political leaders but of leaders representing all walks of life. Today’s column reflects on leadership lessons associated with authenticity and accountability.

Overview

Authenticity refers to being genuine in showing the real you. When applied to leadership, it involves acting with sincerity, integrity, and transparency. It also includes practicing of one’s core values in setting an example to his/her team members. Authentic leaders emphasise ethicality in inspiring, influencing and initiating. They are high in demand in a world where principles are compromised for privileges.

Steve Jobs was frank about his failures. Oprah Winfrey used to openly share her past struggles during her interactions with others. Jacinda Ardern, the former prime minster of New Zealand was known for showing her empathy and effectiveness together. Satya Nadella strived to transform Microsoft’s culture from ‘know it all’ to ‘learn it all.’ These all represent authentic leaders by one way or the other.

‘Authenticity is when you say and do the things you actually believe. But if you do not know WHY the organisation or the products exist on a level beyond WHAT you do, then it is impossible to know if the things you say or do are consistent with your WHY. Without WHY, any attempt at authenticity will almost always be inauthentic.’ This is how Simon Sinek advocated in his popular book, ‘Start with Why.’

Accountability simply means that one is answerable to what you do. In a broader sense, it is the acknowledgment by an individual or an institution of the answerability of one’s actions. Often confusingly interchanged, it is different to responsibility or responsibilities. As we learn in the fundamentals of management, responsibilities can be delegated to others, but the accountability cannot be delegated. I remember once reporting to an elderly leader who had a framed tag hung on the wall behind his table with an interesting saying. ‘The buck ends here.’

‘Accountability breeds response-ability,’ so said Stephen Covey. It highlights the capability to handle issues in taking ownership. Accountability creates a clear expectation for outcomes, motivating teams to meet high standards and work towards shared goals. A lack of accountability can lead to employees doing the bare minimum instead of their best effort. Jason Kelce, a US football player expressed it elegantly. ‘I think as a leader, you just take accountability. That is what leadership is. Leadership is taking accountability yourself and holding others to the same standard, regardless of what is going on.’

Authenticity vs. Accountability

It is interesting to infer the interplay between authenticity and accountability with leadership in mind. Figure 1 is an attempt to do so, highlighting four possible scenarios.

Let us examine the four Es as given in the figure showing the combinations of accountability and authenticity.

Excusing

One may excuse to show results with low level of authenticity and accountability. We have many such examples in Sri Lanka. Rather than striving to achieve given targets despite obstacles, many will find excuses of passing the blame to others. It may be due to lack of competence and confidence both. Many politicians of yesteryear were famous for doing these and the voters, I am sure the voters gave them the deserving treatment at the elections.

In the corporate world too, such people are common. In ‘passing the buck,’ they have a whole heap of excuses to show how innocent and genuine they are. Blame games of this nature lead to escalation of organisational politics resulting in fragmentation, frustration, and eventual failure.

Exhibiting

This is one-way bias scenario where one shows the world of one’s desire to be accountable but without genuinely interested in it. It is more of a showing than sincerely doing. Some bosses who want to be popular among their teams, may openly make utterances to energise them, without seriously meaning them. We have such people among Sri Lankan community as well. The real shrewdness of such leaders is to convince their team members of their so-called keenness to ensure the wellbeing of the team and limit it only to the words.

In the corporate sector, the façade some wear by way of flowery slogans and flattery statements would demonstrate the absence of authenticity. They may deceive some for some time but not all in all times. Such so called leaders will be exposed eventually with evidence so that the true nature of them will be seen with surprise by many who followed them.

Exerting

In this scenario, the leader is sincerely struggling to accept the ownership of the outcomes, mostly negative. Because of the authenticity, the effort is there, yet the challenge of facing failures as ‘fertilisers for future’ is much less visible.

It can also be a case of having the attitude of being genuine yet not willing to be answerable for results. It is a subtle rejection of the ownership of one’s own actions may be individual or collective, paving the way for a possible avoidance. A manager who is known to demonstrate a high degree of integrity yet has not achieved the given targets as a team could be one example.

Excelling

This is obviously the preferred scenario, the much respected one. Great leaders in the annals of human history have shown excellence in being both authentic and accountable. Mahatma Gandhi is a fitting example of demonstrating such excellence. His non-violent path towards freedom showing ample evidence of authenticity and accountability.

In the corporate world, the leaders who also are ‘leader-breeders’ achieve results against odds in exceeding stakeholder expectations, together with a committed and a competent team demonstrate excellence in action. This is the rare breed in high demand, who can be role-models to many aspirant leaders.

Akio Morita as a case in point

In perusing through the annals of managerial leadership history, Akio Morita emerges as a fitting figure who excelled as a leader showing both authenticity and accountability. His leadership style combined ‘Japanese spirit’ with ‘western learning.’ He known for his visionary innovation, willingness to take calculated risks, and for fostering an employee-centric culture at Sony.

‘Nobody openly laughed at me. Everybody gave me a hard time. It seemed as though nobody liked the idea. I do not believe that any amount of market research could have told us that the Sony Walkman would be successful.’ That is how Morita reflected on his authentic actions, struggling at times with eventual success.

‘Sony’ was started in 1946 as an electronics shop by Masaru Ibuka with 8 employees, just as Japan was starting to rebuild itself after World War II. The company name Tokyo Tsushin Kogyo (Tokyo Telecommunications Engineering Corporation or TTK) was quickly established when Akio Morita joined Masaru Ibuka that same year. It was not until 1958 until the company changed their name to Sony, which sounded a bit like ‘sonus’ (Latin for noise or sound) as well as being a word unused around the world. In fact, Sony was the first company to list on an American stock exchange – the NYSE, which was a big deal for the company at the time.

Under Morita’s stewardship, Sony not only achieved unparalleled growth but also introduced a slew of groundbreaking products that revolutionised the electronics landscape. His leadership style, characterised by a blend of intuition, risk-taking, and employee empowerment, became the bedrock of Sony’s corporate culture.

Morita’s emphasis on fostering a culture of innovation and his unwavering belief in the potential of his employees played a pivotal role in Sony’s meteoric rise. His legacy continues to inspire leaders across the globe, emphasising the importance of visionary leadership in business success.

Being accountable when authenticity was challenged

In 1955, Bulova, a well-known American brand, sought to purchase 100,000 units of Sony’s innovative pocket-sized transistor radios. They had put forward one condition: no Sony name, branded as Bulouva. ‘Nobody in the country knows Sony! We could not sell anything under that name. But everyone in America knows our name. Isn’t it ridiculous not to utilise our established reputation?’ That was how they argued.

Morita’s response was interesting. ‘Fifty years ago, how many people knew your name? This is the first year of my company’s fifty years history. If we do not use our name, we may not have a history.’ Even though the deal was worth a significant portion of Sony’s capital and the blessings of his team was for it, Akio Morita said no.

It is amazing to see how his authenticity and accountability as a leader were aptly demonstrated. What Morita believed was to establish Sony’s reputation for quality and decided to find a distributor who would sell the product under the Sony brand, a decision that helped transform ‘Made in Japan’ from a mark of cheap goods to one of quality and reliability.

Way forward

‘The journey to authentic leadership begins with understanding the story of your life. Your life story provides the context for your experiences, and through it, you can find the inspiration to make an impact in the world.’ That is how Bill George advocates in his book titled ‘Discovering Your Authentic Leadership.’ No more stressing is needed to emphasise the leadership excellence with authenticity and accountability in action. Sri Lankan managers and administrators alike can perform a lot better in this acute respect.

International Tourism Leaders’ Summit concludes under patronage of President

The International Tourism Leaders’ Summit 2025 took place this week at BMICH in Colombo, bringing together key industry leaders, policymakers, academics, and global partners to mark World Tourism Day under United Nations World Tourism Organisation’s (UNWTO) theme of ‘Tourism and Sustainable Transformation.’ President and Finance Minister Anura Kumara Dissanayake also attended the summit, which was seen as a strong endorsement of the tourism sector’s role in shaping the country’s economy and future.

Alumni Association of Tourism Economics and Hospitality Management (AATEHM) President Nihal Muhandiram said that the gathering had brought together all stakeholders of the tourism sector on World Tourism Day. He said that Sri Lanka is well placed to be a leading destination with all the resources it already has. He added that Colombo should become the leading travel mart in South Asia, noting that the Colombo Travel Mart had been organised with that aim. ‘Several other programs including a career and job fair were held to create opportunities for young people and professionals. People want better prospects and tourism can provide them. We must keep working towards this collective goal with the support of everyone,’ he said.

University of Colombo Prof. Suranga Silva said that the summit was more than a conference. He said that the involvement of all stakeholders showed the direction in which the sector was moving. He explained that young people must be inspired to see tourism as an industry they love and want to work in. ‘Knowledge must be continuously renewed. That is why we organised programs such as research symposiums and school tourism club competitions. Tourism has supported the country at all difficult times including the Covid-19 pandemic, and future challenges must be faced with knowledge, skills, and data-driven strategies. It’s very important that the academia and industry work together to develop the sector.’

University of Colombo Vice Chancellor Prof. Indika Mahesh Karunathilake, spoke of the need for a long-term plan for tourism. He said that this required close cooperation between the Government, private companies, and local communities. He also said that the younger generation including university students must see tourism as a career that offers stability and growth, which can only be achieved if the industry evolves with global standards.

As part of the day’s events, the countries that send the highest numbers of tourists to Sri Lanka were recognised in their own languages. These included India, the United Kingdom, Russia, Germany, China, France, Australia, the Netherlands, the United States, Bangladesh, Italy, and Canada.

A panel discussion followed with the participation of Independent Commercial Aviation Consultant and former SriLankan-Emirates Airlines CEO Peter Hill, Sri Lanka Tourism Development Authority (SLTDA) Chairman Buddhika Hewawasam, Shangri-La Group Kieran Twomey, and travel consultant Miguel Cunat. The session was moderated by John Keells Group Dileep Mudadeniya. The discussion focused on connectivity, destination competitiveness, infrastructure, and strategies to increase tourist arrivals and spending.

One of the key moments of the summit was the launch of the Ruhunu Ring, a private sector-led initiative designed to transform the southern tourism landscape. Branded under the theme ‘Culturally Wild,’ the 300-kilometre circle links together Yala and Udawalawe National Parks, Sinharaja Rainforest, Arugam Bay, Mirissa, Galle Fort, and Kataragama. The project aims to encourage tourists to explore beyond traditional sites and spend more within local communities. Tourism advocate Yasas Hewage explained that the Ruhunu Ring is the first of five circuits, with plans already in place for the Wildlife Ring, Culinary Ring, Adventure and Sports Ring, and a Northern Ring. An official website for the Ruhunu Ring was also launched during the event.

The magazine Vision to Voice was launched as part of the summit, aimed at sharing ideas and perspectives within the tourism community.

Foreign Affairs, Tourism, and Foreign Employment Minister Vijitha Herath said that Sri Lanka must ensure that tourism is developed as an industry that benefits everyone. He said that opportunities must reach communities in every province, not only those in well-known tourist areas. He noted that when tourism grows in a way that includes small businesses, artisans, and local service providers, it brings more stability to the entire sector. ‘Tourism must also create a pathway for young people to build meaningful careers at home rather than looking overseas. Training and education must go hand in hand with expansion. Tourism is not only about foreign exchange but also about preserving culture and the environment. I urge all stakeholders to work together to build an industry that is strong, sustainable, and fair.’

Tourism Deputy Minister, Prof. Ruwan Ranasinghe said that tourism faces many challenges globally, but Sri Lanka continues to shine on the international stage. ‘This October, Sri Lanka was named the world’s best travel destination, adding to a series of recognitions and accolades the country has received from various international agencies. These acknowledgments show that we are moving in the right direction, and tourism has the potential to become a true turning point for Sri Lanka’s economy. At the same time, we cannot ignore the challenges. A key issue is capacity at Bandaranaike International Airport in Katunayake. It was originally designed to handle six million passengers annually, yet today it serves around ten million. The long-delayed expansion has put real strain on infrastructure. Another important area is branding. Sri Lanka needs a strong, globally recognised branding campaign to position itself competitively in the world tourism market.’

Lifetime achievement awards were presented to Prof. Suranga Silva and veteran tourism professional Chandra Wickramasinghe in recognition of their contributions to the sector.

The President awarded trophies and certificates to the winners of the All-Sri Lanka School Tourism Club competitions.

The International Tourism Leaders’ Summit was the concluding event of Sri Lanka’s program to mark World Tourism Day 2025. The program included provincial-level school competitions, industry exhibitions, and the International Tourism Research Conference. It was one of the most wide-ranging tourism events held in recent years and brought together students, professionals, policymakers, and international partners to shape the future of the sector. The series of events was jointly organised by the Tourism Ministry, SLITHM, the Sri Lanka Tourism Development Authority (SLTDA), the Tourist Hotels Association of Sri Lanka (THASL), and the Sri Lanka Association of Inbound Tour Operators (SLAITO), with support from the Alumni Association of Tourism Economics and Hospitality Management (AATEHM) and the Sustainable Tourism Unit of the University of Colombo.

Modern Zhongtong buses hit Sri Lankan roads

Marking a significant advancement in Sri Lanka’s passenger transport sector, the latest premium Zhongtong bus range was recently introduced by its newly appointed local agent, Moveflex Ltd., a fully owned subsidiary of DIMO.

Zhongtong is a familiar name in the Sri Lankan market, having already established a presence in the country over the years. Under DIMO Moveflex’s stewardship, the brand is poised to deliver greater value with stronger sales and after-sales support, powered by the expertise of its parent company DIMO.

Marking a significant milestone in the brand’s local journey, the launch event also featured the ceremonial handover of 17 new Zhongtong buses to customers, underscoring the immediate demand and confidence placed in the new range.

The new Zhongtong range includes models such as the L7, H8, H9, H11, H12 Single Glass, H12 Double Glass, and the New Magnate, with seating capacities ranging from 28 to 51. These models are designed to meet the needs of diverse segments in the country, including tourism operators, intercity passenger transport services, public transport authorities, private city route operators, as well as corporates, universities, and institutions requiring safe and reliable executive-level transport solutions. New models in the pipeline are expected to define public, school, and staff transportation in Sri Lanka.

Strong fuel efficiency and optimised Weichai engines ranging from 205hp to 400hp, combined with aerodynamic exteriors, spacious interiors, and advanced safety features, ensure a product range that is both durable and comfortable while meeting international safety standards.

These new models offer operators significant cost advantages with fuel efficiency improvements of up to 10 to 15% compared to conventional competitors and extended service intervals, reduced downtime, lower maintenance costs, as well as superior return on investment. The design focus includes driver comfort with enhanced visibility, wide entry and exit doors, reverse cameras, and lane-assist options in selected models, while passengers benefit from superior suspension, ergonomic seating, and premium comfort aimed at long-haul satisfaction.

To ensure long-term reliability, DIMO Moveflex is offering robust after-sales support through its close integration with DIMO CAREHUB island-wide infrastructure. Authorised service centres equipped with state-of-the-art facilities will be complemented by mobile service units for on-site assistance. Genuine spare parts will be supplied through a dedicated distribution network, while technical training and driver orientation programs will enhance operational efficiency and fleet safety.

DIMO Group Chief Marketing Officer Dinuk Peiris said: ‘The introduction of Zhongtong’s latest range through DIMO Moveflex is a significant step forward in strengthening Sri Lanka’s passenger transport sector. Customers now have the assurance of a globally recognised brand combined with the trusted backing of DIMO Moveflex and the extensive after-sales capabilities we bring. This synergy ensures operators can look forward to enhanced reliability, efficiency, and long-term value.’

Zhongtong Overseas Marketing Company South Asia Department General Manager Jefferey Chen said: ‘Zhongtong is strongly committed to introducing advanced and fuel-efficient buses that address the evolving needs of Sri Lanka’s transport sector. Our vision goes far beyond simply supplying vehicles – we aim to play a long-term role in building more sustainable, accessible, and future-ready mobility solutions for the country. Our partnership with DIMO Moveflex is a powerful alliance that brings together Zhongtong’s global manufacturing expertise with DIMO Group’s trusted local presence and extensive service network. Together, we will ensure Sri Lankan customers benefit not only from world-class buses, but also from dependable after-sales support and genuine spare parts availability.’

DIMO Moveflex, long recognised in cargo and logistics, has expanded into passenger mobility, leveraging its 3PL expertise and trusted industry reputation to deliver advanced transport solutions backed by proven credibility.

With this introduction, DIMO Moveflex reinforces its ambition to play a leading role in Sri Lanka’s passenger mobility sector by delivering trusted brands and comprehensive support that empower transport operators to meet the demands of a rapidly evolving market.

Sri Lanka’s para athletes shine on global stage despite poor support

Sri Lanka’s para athletes successfully participated in the World Para Athletics Championships 2025 held in New Delhi, India. Despite constraints in training facilities, they managed to secure two bronze medals and several personal best performances.

The country’s medal tally was led by Pradeep Somasiri, who was awarded the bronze medal in the Men’s T46 1500m. Competing on an international stage, Somasiri adeptly secured third place on the last lap finishing in 3:53:77. His achievement stands as one of the finest middle-distance performances by a Sri Lankan para athlete in recent years, setting a new Asian Para Athletics record.

Nuwan Indika continued the streak of victory by winning bronze in the Men’s T44 Long Jump, reaffirming his position as one of Sri Lanka’s most promising field athletes.

Janani Dhananjana recorded a personal best jump of 5.36m and finished seventh in the Women’s T46 Long Jump. Additionally, her best time was 12:88 sec in the women’s T47 100m heat and had secured 12th place.

Buddika Fernando came in 7th with 6.70m in the Men’s T47 long jump final.

The season’s best distance of 14.07m in the Men’s Shot Put F63 finals was recorded by Palitha Bandara who came in fourth.

Sri Lanka’s para athletes trained with minimal facilities, often without access to proper gym equipment, synthetic tracks, or physiotherapy support. Unlike their able-bodied counterparts, they receive limited funding, sporadic sponsorships, and very few opportunities to train overseas. Many heavily depended on the commitment of their coaches and families.

In recent years, Sri Lanka’s para athletes have won medals at the Asian Para Games, World Championships, and even the Paralympics. As the country looks ahead to the 2026 Asian Para Games in Nagoya 2026 Commonwealth Para Games in Glasgow, 2028 Los Angeles Paralympics, their success at the 2025 World Championships should serve as both a celebration and a call to action.

The National Paralympic Committee (NPC) has been coordinating with a small pool of coaches, but the need for a national strategy is crucial. Investing in modern training centres, rehabilitation programs, and exposure tours would benefit Sri Lankan athletes.

Inaugural South Asia Bitumen Market Conference in Colombo next month

The inaugural South Asian Bitumen Conference (SABIT 2025) will be held on 13-14 November at the Cinnamon Life at City of Dreams, Colombo, bringing together decision-makers, policymakers, and industry specialists from across the bitumen value chain themed, ‘Bridging Trade, Infrastructure and Supply Chains Across South Asia and Beyond’.

Organised by Conference Connection, together Events and Hospitality Partner, Helanka Vacations Colombo, SABIT 2025 marks the expansion of its Global Bitumen Series into South Asia. The region is witnessing accelerating infrastructure investments, and SABIT aims to provide a dedicated forum for stakeholders to align, innovate, and build partnerships.

The two-day programme will commence with registrations and a networking reception in the evening on 13th November, with a SABIT 2025 Golf Game ice breaker earlier that afternoon. The official opening and Ministerial address by Sri Lanka Transport, Highways, Ports and Civil Aviation Minister Bimal Rathnayaka will take place on 14 November, followed by a keynote address by Sri Lanka Road Development Authority Chairman T. Paskaran.

Over 15 experts will deliver other presentations, case studies, panel sessions and one-on-one meetings covering: Supply, demand, and trade flows in South Asian bitumen markets; Refining, upgrading and blending capacity developments; New technologies for sustainable paving, emulsions, and asphalt solutions; Market access, procurement strategies and logistics and Regulatory, environmental, and policy frameworks.

SABIT 2025 is expected to attract senior representatives from refineries, trading houses, road authorities, contractors, infrastructure developers, logistics providers, technology firms and Bitumen specialists from South Asia, the wider Asia Pacific and Middle East.

Conference Connection General Manager Abby Seah said: ‘For the first time, Conference Connection’s highly successful Global Bitumen Series will be held in Sri Lanka and brings together leading players in key growing South Asian markets notably India, Pakistan, Bangladesh and Sri Lanka. Participants representing the government and various disciplines of refining, trading, shipping and consulting are expected to attend, providing an excellent platform for networking and exchange vital knowledge and market information.’

Helanka Vacations by MendisOne Chairman Rohitha Mendis said: ‘This event is an important milestone, highlighting Sri Lanka as a strategic hub for global industry collaboration and infrastructure development. SABIT 2025 underscores Sri Lanka’s growing role in the global bitumen and infrastructure sector, bringing international expertise, investment and valuable networking opportunities to our shores.’

SABIT 2025 is supported by the Sri Lanka High Commission, Singapore and endorsed by, Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL), Ceylon Institute of Builders (CIOB), Ceylon Association of Shipping Agents (CASA), Sri Lanka Philippines Business Council (SLPBC), YoungShip Sri Lanka, among others. Sponsorship opportunities are also available.

Media partners for SABIT 2025 include the World Petroleum and Bitumen Journal, Highways Today, Foreign investors on India (FiiNews), and Worldoils.

People’s Bank unveils iconic ‘People’s Tower’ as new head office

‘People’s Tower’, the new head office building of People’s Bank, was ceremonially declared open yesterday at No. 374, Dr. Colvin R. de Silva Mawatha, Colombo 2, under the patronage of the Central Bank Governor Dr. P. Nandalal Weerasinghe, and the Treasury and Ministry of Finance, Planning and Economic Development Secretary Dr. Harshana Suriyapperuma.

For over sixty-four years, People’s Bank has been deeply committed to the development of the nation by providing financial facilities to the public and making an unparalleled contribution to the country’s social and economic progress. The unveiling of this new head office marks a significant milestone in the history of banking and finance in Sri Lanka. It symbolises not only the Bank’s growth but also the wider economic advancement of the nation, while serving as a strong foundation for the further expansion of the Bank’s services to the country and its people.

The new head office building comprises 22 floors and three basement levels, constructed entirely in accordance with the Green Building concept, in line with People’s Bank’s environmental sustainability policy. It houses a fully equipped auditorium, documentation unit, modern cafeteria, medical centre, multiple conference rooms, and many other specialised facilities.

The premises also include the People’s Bank Staff Training College, while the Union Place Branch has also been established within the building to provide customers with advanced digital banking facilities.

A special commemorative cover and stamp issued by the Department of Posts to mark the opening of People’s Bank’s new head office were launched at the event.

The previous head office of People’s Bank, located at Sir Chittampalam A. Gardiner Mawatha, Colombo 2 was inaugurated in 1977. This brand-new head office, opened decades later, reflects the strength, innovation, efficiency, and pride of People’s Bank as a state-owned financial institution and a national asset.

The ceremonial opening was attended by People’s Bank Chairman Prof. Narada Fernando, members of the Board of Directors, Chief Executive Officer/General Manager Clive Fonseka, along with the Corporate and Executive Management team, special invitees, customers, and staff.

PUCSL public consultation on 2025 electricity tariff revision today

The Public Utilities Commission of Sri Lanka (PUCSL) will conduct a public consultation today to review the proposed electricity tariff structure for 2025.

Titled ‘3rd Electricity Tariff Revision 2025,’ the session will be held at the BMICH from 9 a.m., with registration beginning at 8.30 a.m.

Sri Lanka shines at Expo 2025 Osaka, Japan

Sri Lanka conducted a special business promotion forum at Expo 2025 Osaka, Japan with the support of Japan External Trade Organisation. Sri Lanka Export Development Board, Sri Lanka Embassy in Japan, and Sri Lanka-Japan Business Council organised the event.

Apart from highlighting investment and sourcing opportunities in Sri Lanka, the event included several one-on-one buyer-seller meetings.

Separately, President Anura Kumara Disanayake inaugurated the Sri Lanka Pavilion at the Expo 2025 Osaka in addition to officiating at the Sri Lanka Day at Expo 2025. Japan’s Minister in charge of the World Expo 2025 Ito Yoshitaka accompanied President Disanayake’s visit to the Sri Lanka Pavilion.

The Sri Lanka Pavilion located at Common Hall A showcased culture, tradition, gems, tea, spices, and tourism, among others. It has drawn thousands of visitors daily, mainly Japanese. He inspected the pavilion which was located at a hall featuring several other countries.

Sri Lanka Day at Expo 2025 included performances by Sri Lankan dancers and musicians.

A 20-member delegation organised by the Sri Lanka-Japan Business Council, several Osaka and Tokyo-based Sri Lankan entrepreneurs attended the events.