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Corporates to take a pledge to use mediation to resolve disputes
The Mediation (Civil and Commercial Disputes) Act No. 13 of 2026 came into operation on June 30th, 2026. The Act recognizes mediation as a main stream dispute resolution method for civil and commercial disputes and sets standards for the use of mediation, provides for the core principles that must be observed and for the procedure to enforce mediated settlement agreements.
The private sector has been actively engaged in promoting mediation for commercial dispute resolution. The International ADR Center (IADRC) which is a private guarantee company, the ICC Sri Lanka, the National Arbitration Center and Udecide are entities in Sri Lanka that stand ready to offer mediation services. The IADRC has its own institutionalized Rules for providing Mediation services and a panel of trained Mediators who are accredited to the Center.
In furtherance of its commitment to promote mediation for the benefit of the commercial sector, the IADRC will host a “Corporate Mediation Pledge” event on Tuesday August 4th, 2026 at the Sales Gallery of the Colombo Port City.
The event will see twenty five (25) Corporates sign a pledge to use Mediation in their corporate engagements on an acceptance that –
· it is vitally important to ensure that conflicts that arise among business partners, are resolved efficiently so that core corporate business is not affected adversely;
· efficiency requires that the conflict resolution process offers the benefits of being cost effective and time efficient and serves the best interests of disputants;
· the use of Mediation globally has demonstrated that these benefits do accrue from its use including that, Mediation offers prospects to restore business relationships that may be adversely affected due to conflict
· the enabling regime in Sri Lanka provides for the responsible use of Mediation in compliance with globally accepted standards for civil and commercial dispute resolution and for the recognition and enforcement of domestic and international mediated settlement agreements.
The IADRC believes that a commitment to include mediation in their dispute resolution options demonstrates corporate wisdom in resolving disputes meaningfully and thereby protecting the corporate brand. The pledging ceremony will also feature a panel discussion with international experts who will discuss aspects of the dispute resolution regime.
The event is supported by The Asia Foundation and the venue partner is the Colombo Port City.
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Former first lady Shiranthi Rajapaksa arrested by CIABOC
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U.S. Navy ship USS Tulsa arrives in Colombo for replenishment visit
The U.S. Navy ship USS Tulsa (LCS 16) arrived at the Port of Colombo this morning, 7 October 2026 for replenishment purposes.
The visiting ship was welcomed by the Sri Lanka Navy in accordance with naval traditions.
The 127.7-metre-long platform is a Littoral Combat Ship commanded by Commander BM Wanier. Commissioned on 16 February 2019, USS Tulsa has since been in service with the US Navy.
The ship previously made a port call in Sri Lanka on 27 August 2025.
News
Fuel crunch looms
Govt. tells fuel distributors to maintain stocks to ensure uninterrupted supplies
by Saman Indrajith and Norman Palihawadane
The government had instructed private fuel distributors to maintain minimum stocks and ensure uninterrupted supplies to the market, Energy Minister Anura Karunathilaka told Parliament yesterday (06).
Karunathilaka said the Ministry of Energy Secretary had notified the relevant companies of the requirement, following a reduction in supplies by some private distributors, amid higher international fuel prices.
The Minister said private companies had informed the government that they were facing losses because international prices had risen while fuel was being sold, locally, at prevailing prices. As a result, some companies had reduced the volumes released to the market.
The reduced supplies had increased the burden on the Ceylon Petroleum Corporation (CPC), whose share of the diesel market had risen from about 54% to 82%, the Minister said.
“The CPC currently holds an 82% share of the market,” he said, adding that it had increased its supplies, compared with February, to compensate for the reduction by private distributors.
Karunathilaka said the government could not, under the existing agreements with private companies, specify the quantities they should supply to individual filling stations. However, it could require them to maintain minimum stocks in the country.
The Minister said the Energy Ministry had already instructed companies that had failed to maintain the required stocks to take steps to prevent supply disruptions.
The Minister attributed the queues reported at some filling stations to reduced supplies from private distributors, as well as normal variations in fuel distribution. He also said demand for CPC fuel had increased because private companies generally did not provide fuel to dealers on credit, while the CPC offered a three-day credit facility.
“We expect that, as the Ceylon Petroleum Corporation takes on this additional burden, the problem will ease to some extent by Wednesday or Thursday,” Karunathilaka said.
He said instructions had also been issued to increase supplies to CPC filling stations. A special discussion on the issue is scheduled for today (07), with officials of the Energy Ministry and CPC expected to participate,
along with President Anura Kumara Dissanayake.
Meanwhile, Petroleum Dealers’ Association officials have called for an early solution to the supply issue. Association Chairman D.V. Shantha Silva said queues had been reported at many filling stations, mainly those operated by private distributors.
He said the situation was not due to an overall shortage of fuel, but was linked to reduced orders by Lanka IOC, Sinopec and R.M. Parks amid concerns over losses incurred on fuel sales.
The Ceylon Petroleum Private Tanker Owners Association has urged motorists to refrain from panic buying, saying there was no nationwide disruption to fuel supplies.
The government earlier increased fuel prices and introduced a per-litre diesel subsidy following concerns raised by distributors over rising international prices.
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