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‘Invest Sri Lanka’ restarts in Dubai

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The ‘Invest Sri Lanka’ Investor Forum organized by the Securities and Exchange Commission of Sri Lanka (SEC), Colombo Stock Exchange (CSE), in association with the Embassy of Sri Lanka in UAE and the Consulate General of Sri Lanka to Dubai and Northern Emirates was recently held at the Sheraton Grand Hotel Dubai. The forum made a strong case for investment flows into Sri Lanka. The event drew a strong turnout and a full house of leading Dubai–based Sri Lankans across multiple industries and was graced by Ajith Nivard Cabraal as the keynote speaker.

A Sri Lankan delegation including senior representatives of the SEC, CSE, the Central Bank of Sri Lanka, and representatives of Stock Broker Firms collectively pitched for further investment flows into Sri Lanka, a call that was also boosted by strong endorsements for Sri Lanka by the representatives of the Embassy of Sri Lanka in UAE and the Consulate General of Sri Lanka to Dubai and Northern Emirates.

Delivering the welcome address, Malraj de Silva, High Commissioner of Sri Lanka, Embassy of UAE stated that he was very happy with the enthusiasm shown by the Sri Lankan community in the UAE in participating in the forum and invited the participants to reap the benefits of investing in the CSE.

Ajith Nivard Cabraal, Governor of the Central Bank of Sri Lanka making the keynote address at the event invited the diaspora community to be a part of the growth story of Sri Lanka and said “The first step that we took after I assumed office and as a central bank team was to ensure that we give clarity. So we set out a roadmap for the next six months, so that investors would know where is the economy going to move? What would the rupee do? Where would the interest rates be? What would be the situation with regard to the debt repayments? What would be the way in which the country would handle its balance of payments?”

He further added “So those questions needed to be answered. Those are the tough questions. Unless those questions are answered, the rest of the questions would not be relevant. That is why we have taken painstaking steps to individually answer those questions and give confidence. Now that the overall stability of the economy is being maintained, we also need to ensure that there is stability within the community.” The Governor went on to emphasize on commitments  made  by  the  Sri  Lankan  government in terms of interest rates “What we mentioned was that companies were doing well, how did that happen? If there was turmoil, would that have happened? Interest rates were at very low levels. So the advantage that all those companies received as a result of the interest rate differential was enormous. The ability to do business was, again, a very important factor that allowed them to make profits. And to have a decent bottom line, the reduction of taxes was the stimuli that the government provided. If you remember, since 2015, we had sluggish growth, so much so that by 2019, growth had come down in the country to around 2.3%. So what should the government have done? The government had to give a stimulus. And that stimulus, whatever anyone may say, has worked. That is why the economy was safeguarded.

‘’Even during the COVID, if we had another additional 20% 30%, more to be paid as taxes, many of these companies would have been struggling. If there were higher interest rates to have been paid, many of these companies would have been struggling, you wouldn’t have been having that same momentum. And if that momentum was not there, that wouldn’t have got translated into a good feeling. And if you don’t have a good feeling, you won’t have people coming and investing.”

“If Sri Lanka acts in line with its potential, we have an extraordinary growth story to tell for the future. And that growth story will come from you, from the investors, from the companies which are being listed and from the companies that are in operation in Sri Lanka”

“The time is now, for you to take up positions, we still have a lot of potential for the stock exchange to grow. I remember in 2014, if you look at the market capitalization, in dollars, it was about 25 billion after seven years, even notwithstanding the growth in numbers that was mentioned by the Chairman of the Securities and Exchange Commission as well as by the Chairman of the Colombo Stock Exchange, the market capitalization is still lower in dollar terms, as far as all the companies are concerned. If you work it out today, it will be less than $25 billion. So what does it say? It says that there is latent potential, and latent strength within the Sri Lankan market, the Sri Lankan equities that we haven’t still been able to realize”

Viraj Dayaratne PC, Chairman of theSEC speaking at the event explained how it is customary for the Colombo Stock Exchange, and the regulator the Securities and Exchange Commission to have events of this nature to invite investors to Sri Lanka’s stock market, from different parts of the world. But due to the pandemic, this exercise was prevented for over two years.

He further stated the role of the SEC “As the regulator of the stock market, the Securities and Exchange Commission has a dual role to play, we have to regulate the market and at the same time, ensure that we take steps to develop it. So, in managing these two, these twin interests or duties, if I may call it we have to strike a balance because whilst regulation is important to ensure the protection of investors and the integrity of the market, it is also necessary to ensure that we do not over regulate so that all market participants have the freedom and the space to engage in their activities.”

“The number of trades that take place has increased tremendously. And as a result, it is necessary for us to ensure the integrity of the market and ensure that no wrong doing is taking place. So in order to do that we have enhanced our surveillance functions and the supervisory function. We have real time surveillance on a daily basis with regard to the trades that are taking place. Our Corporate Affairs division supervises and looks into the affairs of listed companies, then market intermediaries are supervised by our Supervision division. So, that will ensure that market integrity is maintained at all times and that all investor interests will be looked after.”

He added, “One other significant achievement, was the enactment of the new Securities and Exchange Commission Act that was on the cards for several years. The new law was brought in and I must tell you, that not only does it help better regulation, but it provides a lot of opportunities for the development of the market, it will be possible for us to introduce new products, then it will be possible to facilitate the setting up of new funds. And that means creating more opportunities for you to invest.”



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ADB pledges over $1 billion annually to Sri Lanka in post-cyclone recovery push

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ADB President Masato Kanda meets Sri Lankan Prime Minister Harini Amarasuriya at ADB’s Manila headquarters.

Asian Development Bank (ADB) President Masato Kanda met with Sri Lanka Prime Minister Harini Amarasuriya at ADB’s Manila headquarters recently. The meeting reaffirmed the strong development partnership between ADB and Sri Lanka, with both leaders underscoring their commitment to post-cyclone recovery, inclusive growth, and advancing women’s equality.

“Sri Lanka’s resilience in the face of crises has been remarkable,” said Kanda. “We are committed to helping Sri Lanka rebuild after Cyclone Ditwah, while also investing in the country’s future by empowering women entrepreneurs and strengthening education and essential skills.”

Looking ahead, ADB is ready to provide more than $1 billion annually to Sri Lanka from 2026 to 2029. This financing will target macroeconomic stability, private sector-led growth, education and skills development, and resilient infrastructure. Key initiatives include a major digital transformation program to help unlock Sri Lanka’s digital economy, alongside support for its accession to the Regional Comprehensive Economic Partnership to deepen its integration into regional trade and investment networks.

During their discussion, Kanda emphasized ADB’s response to the devastation caused by Cyclone Ditwah. Building on emergency financing already mobilized, ADB is fast-tracking an emergency assistance loan to restore damaged infrastructure and support affected livelihoods.

With Dr. Amarasuriya serving as the keynote speaker for ADB’s International Women’s Day event, the leaders highlighted women’s equality as a cornerstone of inclusive development. Kanda noted ADB’s long-standing work as an implementing partner of the Women Entrepreneurs Finance Initiative, which expands access to finance, business skills training, and policy reform for women-owned enterprises. This partnership has helped drive lasting change, with Sri Lanka becoming one of the first countries to adopt the Women Entrepreneurs Finance Code at the national level in March 2025.

Dr. Amarasuriya also engaged in dialogue facilitated by ADB to advance Sri Lanka’s skills agenda, including discussions on referencing skills and qualifications with the Association of Southeast Asian Nations and on mutual areas of interest with the Philippines related to technical and vocational education and training.

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New Board appointed to lead Unit Trust Association of Sri Lanka

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The Unit Trust Association of Sri Lanka (UTASL) announced its new Board of Directors, appointing Jeevan Sukumaran of SENFIN Asset Management as President. The Board assumes leadership at a time of significant growth and resilience in Sri Lanka’s Unit Trust industry. Over the past five years, the number of unit holders has more than doubled, while assets under management have grown substantially, reflecting a clear shift in investor behaviour amid evolving economic conditions.

The 2026–2027 Board includes Vice President Kavin Karunamoorthy (First Capital Wealth Management), Secretary Asanka Herath (Lynear Wealth Management), Assistant Secretary Gayan De Silva (Capital Alliance), and Treasurer Wishan Perera (Softlogic Invest).

President Jeevan Sukumaran highlighted the importance of expanding the industry’s reach and increasing retail participation nationwide. “Whilst the Unit Trust industry has grown significantly in recent years, the next phase must focus on broadening retail investor participation across Sri Lanka’s different geographic/demographic sectors, with the key priority being strengthening investor education and awareness, particularly outside major urban centres. Improving financial literacy and expanding access to professionally managed investment solutions are essential to building long-term confidence and encouraging more Sri Lankans to invest in unit trusts.”

The new Board intends to build on the industry’s recent momentum by prioritising investor education, digital accessibility, and product innovation. Over the coming years, enhanced digital platforms are expected to make Unit Trust products more accessible, enabling investors across the country to participate in capital markets in a convenient and transparent manner.

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Indiya at Cinnamon Life enters a flavourful new chapter

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Colombo’s vibrant dining landscape has received a fresh infusion of flavour with the renewed culinary direction of Indiya, the signature Indian restaurant perched high above the city at Cinnamon Life at City of Dreams. With celebrated Indian chef Mukesh Joshi now steering the kitchen, the restaurant is presenting a menu that celebrates the depth, diversity and soul of Indian cuisine while subtly weaving in Sri Lankan influences.

Located on the spectacular Level 23 of the sprawling Cinnamon Life complex, Indiya’s setting itself feels like a prelude to the culinary journey that unfolds at the table.

The restaurant’s sweeping views of Colombo’s skyline provide a dramatic backdrop to a menu designed to take diners across India’s many culinary regions — from the fragrant biryani traditions of Awadh to the bold spice profiles of coastal kitchens.

At the heart of this new chapter is Chef Mukesh Joshi, a culinary craftsman whose career spans some of India’s most renowned hospitality institutions as well as prominent dining establishments in the Middle East.

Having honed his skills at luxury hotels such as The Westin and St. Regis Mumbai before leading kitchens in Dubai’s thriving Indian dining scene, Joshi is known for his ability to balance traditional flavours with contemporary finesse.

At Indiya, his philosophy is simple yet compelling: celebrate the authenticity of Indian cooking while creating dishes that encourage sharing and conversation.

The experience begins with a vibrant array of small plates that capture the playful spirit of India’s street food traditions. The crisp Sev Papdi Chaat offers bursts of sweet, tangy and spicy notes, while a generous Pakora Platter brings together an assortment of golden-fried fritters that evoke the comforting flavours of roadside tea stalls across the subcontinent.

From there, the menu moves naturally into the world of the tandoor — the clay oven that lies at the heart of many Indian kitchens. Among the highlights is the Hariyali Tandoori Gobi, where cauliflower is marinated in a fragrant blend of herbs before being charred to smoky perfection. Equally intriguing is the Rajma Galouti, a vegetarian reinterpretation of the famed Lucknowi kebab, delivering a melt-in-the-mouth texture that surprises and delights.

Seafood lovers will find much to savour as well. Jhinga Koliwada, a coastal delicacy of spiced prawns fried to a crisp exterior, offers a lively contrast to the delicately seasoned Rawa Fried Surmai. These dishes reflect Chef Mukesh’s confident handling of spice and texture — two essential pillars of Indian cooking.

No Indian dining experience would be complete without the ritual of sharing freshly baked breads, and Indiya’s basket arrives warm and inviting. Chilli Cheese Naan brings a playful modern twist to a classic favourite, while flaky parathas and stuffed Aloo Kulcha provide comforting companions to the restaurant’s richly spiced curries.

By Ifham Nizam

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