Business
German businesses in Sri Lanka underscore strong bilateral ties between the two countries
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) hosted the 10th edition of Top German Brands in Sri Lanka on the 19th of September 2024 at the Cinnamon Grand Hotel in Colombo. Underscoring the strong bilateral ties between the two nations. This year’s event celebrated the presence of 300 German brands operating in Sri Lanka, who are recognized for their commitment to excellence, innovation, and sustainability, contributing significantly across multiple sectors in Sri Lanka.
A key highlight of the 10th edition was the launch of the first-ever German Brands Directory in Sri Lanka, a significant step in commemorating the decade-long journey of German businesses in the country. The directory serves as a comprehensive guide, showcasing the diversity and impact of German enterprises in Sri Lanka and solidifying the long-standing partnership between the two nations.
The event was graced by Dr. Felix Neumann, Ambassador of the Federal Republic of Germany to Sri Lanka and designated to the Maldives, as the chief guest. In his keynote address, Dr. Neumann emphasized the deep-rooted relationship between Germany and Sri Lanka, stating, “The commitment of German businesses to Sri Lanka’s development has been steadfast over the years. As we celebrate the 10th Edition of Top German Brands event, we acknowledge not only the success of these companies but also their role in strengthening bilateral ties and fostering sustainable growth.”
Marie Antonia von Schönburg, Chief Delegate of AHK Sri Lanka, expressed her pride in the journey thus far: “Celebrating the 10th edition of Top German Brands is a testament to the resilience and determination of German businesses in Sri Lanka. Their commitment to quality, innovation, and long-term partnerships has helped them thrive in the Sri Lankan market. These companies have not only established a strong presence but have also contributed immensely to Sri Lanka’s economic landscape.”
The event also honoured anniversaries of several German companies that have operated in Sri Lanka for decades, highlighting their enduring dedication to excellence and the trust they have built within the Sri Lankan market.
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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