Business
‘Local tourism could enhance presence of high spenders rather than depend on backpackers’
By Steve A. Morrell
Inauguration of café 2024 was described as ‘The Culinary Spectacle’. The event was broad based to include culinary artistry in varied fields of food production. Wondrous skills in producing myriad dishes were on display but the event also pointed to the possibility of Sri Lanka attracting tourists in greater numbers than now.
Presidential Senior Advisor on National Security and Chief of the President’s Staff Sagala Ratnayake said Sri Lanka’s tourism potential was not fully tapped, considering its existing attractions. ‘Sri Lanka could bring in a greater number of tourists than experienced currently. We have every possibility of enhancing the high-spending tourist presence rather than depend on back packers, he said.
Ratnayaka was speaking at the inauguration of Sri Lanka’s pre-eminent hospitality event, Hotel Show Colombo 2024 on July 26th. It was the opinion of informed sources that the event is poised to elevate the standards of the hotel industry through the adaptation of hospitality related innovations, both in respect of products and services. Ms. Marie-Noelle Duris, Charge d’Affaires at the embassy of France in Sri Lanka and Ms. Lisa Whanstall, Deputy British High Commissioner, besides other prominent figures, graced the occasion.
Organized by the Sri Lanka Hospitality Graduates Association in collaboration with CDC Events, and bolstered by both state and private sector support, Hotel Show Colombo has established itself as the pinnacle of hospitality exhibitions over the past 26 years. It has continuously evolved to meet the dynamic needs of the industry and serves as a vital platform for exhibitors to meet their business objectives while fostering growth and innovation within the sector. It is endorsed by all the regional hospitality-related associations, together with the Sri Lanka Conventions Bureau.
Business
Ceylinco Life agent among three global finalists for award
Ceylinco Life’s Ambalantota branch agent AIP Manjula has been named one of three global finalists for the prestigious Insurance Agent of the Year award at the 11th Asia Trusted Life Agents & Advisers Awards (ATLAA) 2026.
The recognition places a Sri Lankan insurance professional among the finalists in a regional field spanning South Asia, Southeast Asia, East Asia and the wider Asia-Pacific region.
Ceylinco Life said the achievement reflected the calibre and customer-focused approach of its agency force, while recognising Manjula’s professionalism and commitment to policyholders.
The award evaluates insurance agents on criteria extending beyond sales performance, including ethical conduct, client service, policy persistency, digital adoption, innovative practices and contributions to the insurance industry and community.
The awards are organised by Asia Advisers Network and Asia Insurance Review, with LIMRA as co-organiser. An independent judging and balloting process is monitored by KPMG as the official scrutineer. The judging panel comprises senior insurance executives, association presidents and industry experts from across the Asia-Pacific region.
Business
CEAT Kelani retains AA+ rating for sixth year
CEAT Kelani Holdings (CKH) has retained its National Long-Term Rating of ‘AA+(lka)’ with a Stable Outlook from Fitch Ratings for the sixth consecutive year, reflecting the company’s financial resilience and leading position in Sri Lanka’s pneumatic tyre market.
The ‘AA+(lka)’ rating, the second-highest on Fitch’s national scale, indicates a very strong capacity to meet financial commitments.
Fitch said CKH’s established market leadership and resilient financial profile remained key strengths, while noting its exposure to price-sensitive, cyclical and highly competitive markets.
The Stable Outlook reflects expectations that the company will maintain its market position despite rising input costs and increasing competition from imported tyres, while preserving adequate credit metrics during periods of weaker earnings and higher investment.
Fitch expects CKH’s established brand, extensive dealer network and adaptive pricing strategies to support its market position. Planned production facility upgrades are also expected to improve product quality, particularly in the radial tyre segment.
The rating agency expects near-term pressure on margins from higher raw material and energy costs but said the company’s low leverage and sound liquidity would provide a cushion.
CKH Chairman Chanaka De Silva said the rating reinforced the company’s focus on disciplined financial management, operational adaptability and long-term investment.
Business
Commercial Bank leads nationwide aquatic clean-up drive
Commercial Bank of Ceylon mobilised employees, customers, volunteers and community members for a nationwide coastal and aquatic clean-up campaign across 20 locations on September 19 to mark International Coastal Cleanup Day 2026.
Conducted under the bank’s sustainability platform, themed ‘Forward Together for a Cleaner Future’, the initiative covered 16 coastal locations and four inland waterways, bringing together stakeholders for a coordinated environmental conservation effort.
The flagship programme was held at Mount Lavinia Beach, with additional activities at Wellawatte and Galle Face beaches. Similar initiatives were conducted by the bank’s regional offices at locations including Kalutara, Negombo, Trincomalee, Batticaloa, Puttalam, Jaffna, Galle, Dondra, Tangalle and along the Mahaweli River.
Employees, management, Future Force volunteers, customers and their families participated alongside the Marine Environment Protection Authority (MEPA), United Nations Global Compact Network Sri Lanka, government and local authorities, environmental organisations and community members.
The bank said the initiative reflected its commitment to water stewardship after adopting Sustainable Development Goal 6 — Clean Water and Sanitation — as a priority goal in 2025.
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