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Rotary International will convene its Rotary Institute 2026 in December in Colombo, drawing over 1,000 highnetworth members, including District Governors, past Governors, and senior private sector business personalities from South Asia.

The conference will welcome Rotary International World President Yinka Babalola and a galaxy of influential personalities from the hierarchy of the Rotary International team from the US, and other representatives from corporate India, said the Rotary Institute Communique.

‘Many of the delegates, who are business leaders arriving from overseas, will be firsttime visitors to Sri Lanka – and [this] is a sizeable opportunity that we must not miss,’ said Rotary Institute 2026 Chairperson Gowri Rajan, who was responsible for bringing Rs. 120 million for setting up the first Human Heart Valve Bank in Sri Lanka and gifting it to the Lady Ridgeway Hospital (LRH), Health Ministry.

Rajan said central to its agenda is Sri Lanka tourism and investment into the country must be linked to the private sector – tourism and strategic philanthropy.

This signature event of Rotary will be staged at Colombo City Resort property, City of Dreams, Cinnamon Life, and pre-Institute events will be held at Anantara Kalutara.

Organisers have secured 1,400 roomnights for delegates. The program will feature global best practices, stories of heroic deeds will be featured at the three-day highlevel panels, and targeted networking opportunities designed to catalyse philanthropic partnerships, private investment, and sustainable tourism development in Sri Lanka, said the Communique.

The Rotary Institute 2026 was launched in New Delhi last November at the previous institute, which was attended by the Vice President of India and featured a performance by Cinnamon Life Brand Ambassador Yohani.

Rotary’s global network has a long record of addressing complex challenges, from public health initiatives and polio eradication partnerships to community development and health projects implemented by clubs and districts worldwide. The Rotary Institute 2026 in Colombo is expected to leave a durable legacy of partnerships, projects, and strengthened links between Sri Lanka and Rotary’s global network.

The inaugural ceremony will be graced by Chief Guest Prime Minister Dr. Harini Amarasuriya.

After 21 years, the Rotary Institute is returning to Sri Lanka, which will be convened by Rotary International Vice President Muruganandam (MMM).

Details of top speakers and partnership opportunities will be announced in the near future, the Communique said.

CEAT Kelani Holdings has expanded its agricultural tyre portfolio with three new cross-ply tractor tyres engineered specifically to meet the demanding conditions of local farming, particularly the challenging puddling phase of the Maha cultivation season.

The new additions comprise two AAYUSHMAAN tyres in sizes 16.9-28 and 14.9-28 for rear wheels, and an 8-18 PUDDLE XL for front wheels, extending CEAT’s agricultural tyre range in Sri Lanka to nine sizes and strengthening its ability to meet the requirements of farmers using a wide range of tractors.

Compatible with popular tractor brands including Sonalika, TAFE, John Deere and Mahindra, the new CEAT agricultural tyres are designed to serve a broad range of tractor and farming requirements.

They have been developed with the realities of agricultural operations in Sri Lanka in mind, and are designed to deliver enhanced traction and smoother performance in muddy and wet-soil conditions, the company said. Their improved lug tread patterns facilitate more effective self-cleaning of mud and soil, helping the tyres maintain consistent grip while making puddling operations more efficient.

The 16.9-28 and 14.9-28 AAYUSHMAAN rear tyres feature extra-deep tread and deep lugs designed to provide superior grip in muddy soil while reducing slippage and improving traction. Their strong nylon casing is designed to provide stability and guard against mechanical failures, while a robust lug design supports performance both on and off the field. The tyres are also suited to farming and haulage applications.

The 8-18 PUDDLE XL front tyre features deep lugs designed to assist extraction from muddy and wet conditions, with open and angled shoulder lugs supporting effective performance in challenging terrain. Its reinforced carcass is designed for a longer service life, while higher lug overlap contributes to improved stability during operation.

Together, the three new tyres are designed to help tractors make more effective use of engine power during puddling by improving traction and reducing slippage. Their high-strength carcass construction also provides enhanced durability and structural strength to withstand demanding agricultural applications.

The new range is being offered at a competitive price and is backed by a three-year warranty from the week of manufacture, giving farmers additional assurance when investing in tyres designed for intensive agricultural use.

The Supreme Court has granted special leave to appeal to former People’s Alliance Deputy Minister Shantha Premaratne, who is challenging his conviction for accepting a Rs. 50,000 bribe to secure employment for a supporter’s son-in-law at the Ceylon Electricity Board (CEB).

A three-judge bench comprising Justices Achala Wengappuli, Arjuna Obeysekara, and Gihan Kulathunga granted leave on the question of whether the evidence presented at the trial established the offence for which Premaratne was convicted.

Premaratne was convicted by the Colombo High Court in 2017 and sentenced to eight years’ rigorous imprisonment, with the sentences to run concurrently. The Court of Appeal upheld the conviction in November 2024, prompting him to appeal to the Supreme Court.

The bribery allegation relates to an incident said to have occurred in December 2007, when Premaratne was serving as the Sri Lanka Freedom Party’s (SLFP) Ampara District Leader and Party Organiser. He was accused of accepting Rs. 50,000 from a party supporter in return for arranging employment for her son-in-law at the CEB. Premaratne maintained that the money received was part of donations made by party members towards the construction of the party headquarters in Ampara. He contended that the building had been constructed with the blessings of the party leadership in Colombo.

He also claimed that the complaints against him were instigated by political rivals following his defeat at the 2008 Provincial Council Election and defections from the United National Party (UNP) to the United People’s Freedom Alliance (UPFA) at the time.

Premaratne served as a Deputy Minister under the Chandrika Bandaranaike Kumaratunga-led People’s Alliance Governments between 1994 and 2001, holding portfolios including Tourism and Aviation, Irrigation and Water Resources Management, and Plan Implementation and Parliamentary Affairs. He lost his parliamentary seat in 2001 and was subsequently appointed the SLFP’s Ampara District Leader and Party Organiser in 2005.

Counsel Hafeel Farisz, instructed by Sanjeewa Kodithuwakku, appeared for Premaratne, while Additional Director General Ruvini Wickramasinghe appeared for the Bribery Commission.

DFCC Bank, in partnership with Toyota Lanka, has introduced a new leasing proposition for brand-new Toyota passenger vehicles, combining a tenure of up to 10 years with residual value options of up to 50%.

This is Sri Lanka’s first 10-year leasing facility for brand-new Toyota passenger vehicles. The proposition was formalised through a Memorandum of Understanding between DFCC Bank and Toyota Lanka.

The facility is designed to give customers greater flexibility in managing the monthly financial commitment associated with purchasing a brand-new vehicle. The combination of the extended tenure and residual value option can reduce the monthly rental by approximately 20% compared with a five-year lease, depending on the applicable interest rate, tenure and residual value selected.

The residual value is calculated against the amount financed and remains payable at the end of the initial lease.

Customers who prefer not to settle this amount as a lump sum at maturity may apply for a fresh five-year lease facility. The new facility will be subject to a separate credit evaluation, approval and the lending terms applicable at that time.

DFCC Bank Director and CEO Thimal Perera said: ‘Customers need financing that considers both what they can afford each month and how they will meet the amount due at maturity. By combining a longer tenure with residual value options and a further financing pathway, we are giving them greater flexibility to plan both. It reflects our commitment to developing practical solutions around the way customers manage their finances.’

The proposition is intended for salaried professionals, self-employed individuals, SME owners and business owners seeking a brand-new Toyota passenger vehicle for personal or everyday mobility subject to final validation by the Bank. By lowering the monthly commitment, it may help eligible customers balance vehicle financing with their other household and business responsibilities.

Toyota Lanka Managing Director and CEO Manohara Atukorala said: ‘Our partnership with DFCC Bank gives customers a more flexible way to plan the purchase of a brand-new Toyota. It combines practical financing with our island-wide network, comprehensive after-sales care and dependable service support, we are committed to delivering a rewarding ownership experience and helping customers approach their journey with Toyota with greater confidence.’

The proposition builds on the relationship between DFCC Bank and Toyota Lanka, bringing together DFCC Bank’s leasing capabilities and Toyota Lanka’s position as the authorised distributor for Toyota vehicles in Sri Lanka.

Customers will also have access to genuine parts and after-sales support through Toyota Lanka, which remain important considerations in maintaining vehicle quality, reliability and long-term value.

Through the partnership, DFCC Bank continues to develop leasing solutions around customers’ changing financial needs while making brand-new vehicle ownership more accessible to eligible buyers.

RAWALPINDI: Sri Lanka threw away a golden chance of starting the ODI Tri-Series with a win against host Pakistan when they flung in the towel in a mad 30 minutes or so before the game finished to lose by 37 runs at the Rawalpindi Cricket Stadium yesterday.

Sri Lanka were cruising to victory at one point, having made a brilliant recovery from 91-4 through a 119-run stand off 107 balls by Pavan Rathnayake (79 off 74 balls, 6 fours, 2 sixes) and Janith Liyanage (60 off 74 balls, 5 fours). They needed 82 off 60 balls and then the equation came down to 58 off 48 balls. With Sri Lanka needing seven an over with five wickets in hand, it was easily gettable, but the shot selections of Rathnayake, Liyanage, and Dasun Shanaka and the way they threw away their wickets in crunch moments, were simply unbearable. The frustration signal by Head Coach Gary Kirsten said it all. Sri Lanka were eventually all out for 268 in the 49th over chasing Pakistan’s total of 305.

Pakistan looked like getting 330 and beyond, but Sri Lanka executed their death bowling pretty well – just 26 runs given away in the final five overs and picking up five wickets in that same period. Salman Agha couldn’t stretch much beyond his well-crafted 107 off 90 balls (10 fours, 1 six), during which he put on stands of 97 off 93 balls and 64 off 46 balls with Hasan Nawaz (37) and Arafat Minhas (18). Agha really paced his innings well and ensured that Sri Lanka never got a grip in the middle overs. But once Agha fell close to the death, the wheels came off for Pakistan as Eshan Malinga in particular showcased his death bowling prowess to end with figures of 4/46.

Player of the Match Agha’s knock was pivotal in helping Pakistan revive a flagging innings after they lost Babar Azam and debutant Saad Baig in quick succession, following a promising third-wicket stand of 74 off 83 balls. On a good batting track, Sri Lanka’s bowlers did well to not let Pakistan’s batters run free, even if they were punished at times for the lack of a genuine fifth bowling option.

The National Chamber of Exporters of Sri Lanka (NCE) has called for the existing all-inclusive freight framework to be upheld, warning that the reintroduction of separate Terminal Handling Charges (THC) could increase shipping costs for exporters and importers, with the additional expenses eventually passed on to consumers.

A Terminal Handling Charge is a fee associated with handling a shipping container at a port, including moving it on and off a vessel. Under Sri Lanka’s existing framework, these costs must be incorporated into a single all-inclusive freight rate agreed between the shipping line and the party contracting for the service. A separate THC charged over and above that agreed rate would reintroduce an additional layer of charges.

The all-inclusive freight framework was established under Gazette No. 1842/16 in December 2013 and strengthened in 2017 under Gazette No. 2041/10, requiring container costs to be included in a single freight rate payable by the party contracting with the shipping line.

In October 2022, the Shipping Ministry issued a Gazette introducing new tariffs at the request of local service providers. Several stakeholders challenged the move in the Supreme Court, which ruled that the then Minister had exceeded his authority and that rescinding the Gazette required a two-thirds majority in Parliament. The Ministry subsequently amended the Gazette and rescinded the 2017 protection, but following public pressure, the rule was restored under Gazette No. 2334/26, dated 31 March 2023, which remains in force.

The repeated attempts to change the framework have raised concerns about a return to the fragmented charging system that existed before 2013. At the time, importers and exporters faced nearly 50 separate charges, many of which varied and were imposed on parties with little say in how they were determined. Separate THC on imports alone rose from $ 55 in 1995 to $ 155 per ton today.

The Sri Lanka Ports Authority’s own tariff does not use the term ‘Terminal Handling Charge’. It specifies that a vessel’s stevedoring costs must be paid directly by the shipping line to the port. These costs must be incorporated into the all-inclusive freight payment rather than passed on to exporters and importers as a separate charge.

The all-inclusive framework does not prevent service providers from collecting legitimate payments. It requires those costs to be covered within the agreed freight arrangement, allowing the contracting parties to negotiate the terms of the service without separate local surcharges being imposed outside that arrangement.

The NCE calls for Gazette No. 2334/26 to be upheld and for the existing framework not to be amended or rescinded. Transparent freight pricing is important to exporters and importers, while also helping limit the additional costs that can pass through supply chains and affect the prices paid by consumers.

Hatton National Bank PLC (HNB) has partnered with IDEAL Motors Ltd., to provide customers with attractive leasing solutions for brand-new vehicles and generators.

The partnership introduces a range of benefits designed to support individuals, entrepreneurs, and businesses seeking reliable vehicle and power solutions. Through this collaboration, customers can access structured lease facilities, special interest rates, free life insurance coverage, and attractive discounts through HNB General Insurance.

HNB Senior Vice President/Head of Retail Banking Kanchana Karunagama said: ‘At HNB, we believe that the right financial support can help people and businesses move forward with greater confidence. This partnership with IDEAL Motors shows our commitment to creating meaningful solutions that make vehicle and power investments more accessible, while helping our customers achieve their personal and business aspirations. By combining HNB’s financial expertise with IDEAL Motors’ industry capabilities, we are creating opportunities that support the ambitions of Sri Lankans and contribute towards a stronger, more connected economy.’

Customers purchasing vehicles through IDEAL Motors will also benefit from exclusive offers including free registration, and discounts on Bolero Maxx Pik-Up, Alfa Plus Load Carrier, Mahindra Pik-Up Single Cab, Mahindra Pik Up Double Cab, XUV 3XO vehicles, creating greater value throughout their ownership journey.

IDEAL Motors Director Legal and Corporate Affairs Nimesha Welgama said: ‘Our collaboration with HNB represents a shared commitment to supporting Sri Lankans in achieving greater financial independence through accessible ownership solutions. By combining IDEAL Motors’ mobility and power solutions with HNB’s financial expertise, we aim to empower individuals and businesses with opportunities that contribute to economic progress and community development. This partnership highlights our vision of creating lasting value by enabling customers to confidently invest in their future.’

With IDEAL Motors recognised for its diverse portfolio of automotive and power solutions, and HNB’s extensive expertise in financial services, the partnership aims to provide a seamless experience from selection to ownership, supported by flexible financing options and customer focused solutions.

The partnership further strengthens HNB’s commitment to supporting economic progress by providing financial solutions that enable customers to invest in personal mobility, commercial growth, and business continuity. Through collaborations with leading industry partners, HNB continues to expand opportunities for Sri Lankans while delivering a banking experience built around accessibility, trust, and value.

KD Rise Electrical Motors Ltd., and KD Rise Motor Company, Ceilao Insurance Brokers Ltd., and Amana Takaful PLC have entered into a Tripartite Insurance Services Agreement, marking an important step towards strengthening insurance and risk-management solutions for Sri Lanka’s emerging electric mobility sector.

It brings together KD Rise as the client, Ceilao Insurance Brokers as the professional insurance broker, and Amana Takaful PLC as the insurer, establishing a structured framework for insurance advisory, placement, underwriting support, policy administration, renewals, claims coordination and risk management.

Under the agreement, Ceilao Insurance Brokers will serve as the authorised insurance broker for the agreed portfolio, providing professional insurance advice and coordinating the relevant insurance arrangements, while Amana Takaful PLC will provide the applicable insurance and underwriting support.

KD Rise is an innovative Sri Lankan enterprise focused on electric mobility and is recognised as the first Sri Lankan company to manufacture electric motorcycles in Sri Lanka. Its portfolio includes a range of zero-emission two-wheelers, including electric scooters, e-bikes, mopeds and electric motorcycles.

As the company continues to develop its electric mobility business and expand its presence in Sri Lanka, the partnership with Ceilao Insurance Brokers and Amana Takaful PLC is intended to provide a structured approach to managing the risks associated with its growing operations, assets, liabilities and customer ecosystem.

For Ceilao Insurance Brokers, the partnership represents more than a conventional insurance arrangement. The company believes that businesses introducing new technologies, products and innovative solutions to the Sri Lankan market require appropriate risk-management support to protect their investments, operations, assets and, importantly, the customers who place their confidence in those products.

Ceilao Insurance Brokers Chairman Dr. Manjula Kulathunga said: ‘At Ceilao, we believe insurance should not simply be something a business purchases because it is required. It should be part of the foundation that allows a business to grow with confidence. When we see a Sri Lankan company such as KD Rise investing in innovation and developing solutions for the future of mobility, we want to be part of that journey by helping them understand and manage the risks that come with growth.’

The Tripartite Agreement establishes a framework designed to support KD Rise with appropriate insurance protection for its assets and liabilities, while facilitating professional insurance advice, efficient underwriting coordination, timely policy documentation and effective claims management.

KD Rise Chairman Dammika Krishantha Perera said: ‘KD Rise’s commitment to electric mobility is reflected in its expanding range of electric two-wheelers and three wheelers and we focus on supporting cleaner and more sustainable urban transportation.’

Its product portfolio includes several electric models designed to cater to different mobility requirements, with selected models incorporating lithium-ion battery technology, extended riding ranges and advanced battery management systems.

As electric mobility continues to develop in Sri Lanka, the sector is creating new considerations for manufacturers, distributors, customers and other stakeholders. Appropriate insurance and risk-management solutions will therefore play an increasingly important role in protecting the wider electric mobility ecosystem.

Adding further momentum to KD Rise’s efforts to build awareness around electric mobility in Sri Lanka, prominent Sri Lankan actor, singer and presenter Kamal Addararachchi is working alongside KD Rise to promote its electric motorcycles and support the company’s efforts to introduce electric mobility solutions to a wider Sri Lankan audience.

This collaboration reflects a broader vision that brings together innovation, entrepreneurship, public awareness and responsible risk management as Sri Lanka’s mobility landscape continues to evolve.

For Ceilao Insurance Brokers, the partnership forms part of its broader commitment to supporting Sri Lankan businesses through professional insurance advice, risk-management solutions and insurance protection tailored to the nature and requirements of their operations.

As businesses across Sri Lanka increasingly embrace innovation, technology and emerging industries, Ceilao Insurance Brokers aims to work alongside such enterprises not merely as an insurance intermediary, but as a long-term risk-management partner.

The collaboration with KD Rise and Amana Takaful PLC reflects this approach – supporting an emerging Sri Lankan industry while helping businesses protect what they have built and establish a stronger foundation for sustainable growth.

The partnership also demonstrates the importance of collaboration between innovative businesses, professional insurance intermediaries and insurers in developing risk-management frameworks that are aligned with the evolving needs of Sri Lanka’s economy.

SMB Finance PLC has appointed Prof. Ajith Prasanna Mendis as its new Chief Executive Officer.

Prof. Mendis has extensive experience in academia, financial services, business strategy and management.

He joined academia in 2002 after a decade with LOLC, People’s Merchant Bank and Mitsui and Company. He previously held senior positions in the financial services sector, including Chief Executive Officer of PMF Finance PLC, Director of Alliance Finance PLC and Overseas Consultant to the Indian School of Business in Hyderabad, among others.

He has also provided consultancy services to more than 30 finance companies, local and overseas, in various capacities. His expertise includes implementing turnaround strategies for ailing entities, improving top- and bottom-line performance for growth and restoring corporate fundamentals.

Prof. Mendis holds a Bachelor of Commerce (Special Honours) degree from the University of Kelaniya, a Master of Business Administration from the University of Sri Jayewardenepura and a PhD in Strategy from Management and Science University, Malaysia.

He also holds a Postgraduate Diploma in Marketing from the Chartered Institute of Marketing, UK, and a Certified Management Accountant qualification from Australia.

His combined academic expertise, financial sector experience and strategic management background will contribute to the leadership and future development of SMB Finance PLC.

Vidullanka PLC has won a $ 1.35 million contract to build a mini hydro power facility in Fiji, its first foray into the Pacific island region’s renewable energy sector, the company said on Friday.

The company received the Letter of Acceptance on 13 October from Fiji’s Department of Energy under the Public Works, Meteorological Services and Transport Ministry. A Letter of Acceptance is the formal notice that a bid has been successful, ahead of signing the contract. Vidullanka submitted its bid on 18 December 2025.

The contract covers the design, supply, installation, testing, and commissioning of a 100 kW mini hydro facility at Buca Village on a turnkey Engineering, Procurement and Construction (EPC) basis. Under such an arrangement, the contractor delivers a completed, ready-to-operate project.

Vidullanka said it would complete the procedural and administrative formalities required under the tender conditions before signing formal contract agreements with the Department of Energy. It will make further disclosures once the agreements are executed.

The award builds on the Group’s record of international EPC execution in Guyana in South America and in East Africa. It also reinforces its strategy to diversify revenue into foreign currency-denominated EPC and specialised technical engineering service contracts, Vidullanka said.