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NSB records a PBT of Rs.15.0 billion for first six months of 2024

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Dr. Harsha Cabral, chairman (L) / Shashi Kandambi, GM (R)

National Savings Bank had already surpassed the previous year’s profit after Tax (PAT) by the second quarter of this year. The Bank registered a PBT of Rs. 15.0 billion for the first six month period of year 2024, while the PAT for the year 2023 was Rs. 7.21 billion, an NSB press release said.

Extracts from the release read: ‘Chairman of NSB, Dr. Harsha Cabral said, “Our strong profitability in the first six months of this year is a testament to the strategic focus of our corporate management, the dedication and hard work of our employees, and the emerging economic stabilization following the recent crisis. Despite the challenging environment, our team has remained resilient and together we have successfully navigated the complexities of the market. This collective effort has positioned the Bank to not only recover but also thrive in the post-crisis landscape.”

‘General Manager Ms. Shashi Kandambi, commenting on the increased profitability, stated, “Our net interest income saw a significant boost, primarily driven by our optimal treasury operations and exemplary liquidity management. All key performance indicators of the Bank have shown improvement, reflecting the increased profitability supported by economic stabilisation and the favourable impact of the declining interest rate environment. Our strong financial performance reinforces our role in contributing to the nation’s recovery and growth, staying true to the core mission of the Bank.”

‘Despite ongoing reductions in policy interest rates, the Bank benefited from liabilities being repriced at a lower cost. Although interest income for the first six months declined by 7% to Rs. 103 billion, interest expenses also dropped by 29% to Rs. 71 billion. This positive effect led to a 170% increase in Net Interest Income compared to the same period last year, reaching Rs. 32.5 billion.’



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Sri Lanka betting its tourism future on cold, hard numbers

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“From Data to Decisions” initiative jointly backed by Australia’s Market Development Facility holds its panel discussion

National Airport Exit Survey tells quite a story

Australia’s role here is strategic, not charitable

In a quiet but significant shift, Sri Lanka’s tourism sector is moving beyond traditional destination marketing and instinct-based planning. The recent launch of the “From Data to Decisions” initiative jointly backed by Australia’s Market Development Facility and the Sri Lanka Tourism Development Authority, sent an unambiguous message: sentiment is out, statistics are in.

The initiative is anchored by a 12-month National Airport Exit Survey, a trove of data covering 16,000 travellers. The findings sketch a new traveller profile: nearly half are young (20–35), independent, and book online. Galle, Ella, and Sigiriya are the hotspots; women travellers outnumber men; and a promising 45% plan to return. This isn’t just trivia. It’s a strategic blueprint. If Sri Lanka Tourism listens, it can tailor everything from infrastructure to marketing, moving from guesswork to precision.

Tourists have a real sense of achievement after hiking the trail to Ella Rock

The keynote speaker, Deputy Minister Prof. Ruwan Ranasinghe called data “a vital pillar of tourism transformation.” Yet the unspoken truth is that Sri Lanka has long relied on generic appeals -beaches, heritage, smiles. In today’s crowded market, that’s no longer enough. As SLTDA Chairman Buddhika Hewawasam noted, this partnership is about “elevating how we collect, analyse, and use data.”

Australia’s role here is strategic, not charitable. By funding research and advocating for a Tourism Satellite Account, it is helping Sri Lanka build a tourism sector that is both sustainable and measurable. Australian High Commissioner Matthew Duckworth linked this support to “global standards of environmental protection” – a clear nod to the growing demand for green travel. This isn’t just aid; it’s influence through insight.

“The real test lies ahead,” a tourism expert told The Island. “Data is only as good as the decisions it drives. Will these insights overcome bureaucratic inertia? Will marketing budgets actually follow the evidence toward younger, independent, female travellers?,” he asked.

“The comprehensive report promised for early 2026 must move swiftly from recommendation to action. In an era where destinations are discovered on Instagram and planned with algorithms, intuition alone is a high-stakes gamble. This forum made one thing clear: Sri Lanka is finally building its future on what visitors actually do – not just what we hope they’ll do. The numbers are in. Now, the industry must dare to follow them,” he said.

By Sanath Nanayakkare

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New ATA Chair champions Asia’s small tea farmers, unveils ambitious agenda

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New Chairman of the Asia Tea Alliance (ATA), Nimal Udugampola

In his inaugural address as the new Chairman of the Asia Tea Alliance (ATA), Nimal Udugampola placed the region’s millions of smallholders at the core of the global tea industry’s future, asserting they are the “indispensable engine” of a sector that produces over 90% of the world’s tea.

Udugampola, who is also Chairman of Sri Lanka’s Tea Smallholdings Development Authority, used his speech at the 6th ATA Summit held in Colombo on Nov. 27 to declare that the prosperity of Asian tea is “entirely contingent” on the resilience of its small-scale farmers, who have historically been overlooked by premium global markets.

“In Sri Lanka, smallholders account for over 75% of our national production. Across Asia, millions of families maintain the quality and character of our regional teas,” he stated, accepting the chairmanship for the 2025-2027 term.

To empower this vital community, Udugampola unveiled a vision focused on Sustainability, Equity, and Digital Transformation. The strategic agenda includes:

Climate Resilience: Promoting climate-smart agriculture and regenerative farming to protect smallholdings from environmental disruption.

Digital Equity: Leveraging technology like blockchain to create farm-to-cup traceability, connecting smallholders directly with premium consumers and ensuring fair value.

Market Expansion: Driving innovation in tea products and marketing to attract younger consumers and enter non-traditional markets.

Standard Harmonization: Establishing common regional quality and sustainability standards to protect the “Asian Tea” brand and push for stable, fair pricing.

Linking the alliance’s goals to national ambition, Udugampola highlighted Sri Lanka’s target of producing 400 million kilograms of tea by 2030. He presented the country’s “Pivithuru Tea Initiative” as a model for other ATA nations, designed to achieve this through smallholder empowerment, digitalization, and aligned policy objectives.

By Sanath Nanayakkare

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Brandix recognised as Green Brand of Year at SLIM Awards 2025

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Brandix has championed best practices in the sphere of sustainable manufacturing over the years

Brandix Apparel Solutions was recognised as the Green Brand of the Year at the Sri Lanka Institute of Marketing (SLIM) Brand Excellence Awards 2025, taking home Silver, the highest award presented in the category this year.

The ‘Green Brand of the Year’ recognises the brand that drives measurable environmental impact through sustainable practices, climate-aligned goals and long-term commitment to protecting natural resources.

A pioneer in responsible apparel manufacturing for over two decades, Brandix has championed best practices in the sphere of sustainable manufacturing covering environmental, social, and governance aspects. The company built the world’s first Net Zero Carbon-certified apparel manufacturing facility (across Scope 1 and Scope 2) and meets over 60% of its energy requirement in Sri Lanka via renewable sources.

Head of ESG at Brandix, Nirmal Perera, said: “Being recognised as Green Brand of the Year is an encouraging milestone for our teams working across sustainability.”

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