Business
SLCB wraps-up series of educational sessions on MICE Tourism for 2021
The Sri Lanka Convention Bureau (SLCB), in collaboration with the Sri Lanka Association of Professional Conference, Exhibition & Event Organizers (SLAPCEO), recently organized the Fourth and Fifth SLCB Chairperson’s Forum on MICE at Taj Samudra Colombo. The Forums – held over two distinct sessions – comprised dialogues and discussions on “State Mechanism for MICE Development in Sri Lanka” and “MICE Economic Development through Higher Educational Institutions” respectively. The SLCB, a state institution under the Ministry of Tourism organised the Forums with the prime objective of promoting Sri Lanka as a venue for MICE (Meetings, Incentives, Conferences, Exhibitions & Events) activities.
Previous versions of the SLCB Chairperson’s Forum on MICE comprised a series of educational seminars and workshops aimed at creating awareness among industry stakeholders, including diplomats, airlines, associations, business chambers, and academics, in promoting Sri Lanka as an ideal venue for MICE ventures. Among the Forum’s aim is the dissemination of information on MICE tourism and its many benefits for the country, and educating stakeholders on positioning Sri Lanka as an attractive venue for MICE.
The Fourth SLCB Chairperson’s Forum on MICE featured a panel of expert speakers including Ms. Kimarli Fernando, Chairperson – Sri Lanka Tourism, Ms. D. L. Sannasooriya, Acting Secretary – Ministry of Tourism, Ms. Nadeeka Leeniyagoda, Secretary – SLAPCEO, Buddhika Hewawasam, Manager – Sri Lankan Holidays and Mrs. Anusha Mohotti, Director General Sri Lanka Accounting and Auditing Standards Monitoring Board. Attendees included a gathering of key representatives from state entities in Sri Lanka.
Opening the Forum with a discussion on the topic “Rediscover Sri Lanka with MICE Events”, Ms. Kimarli Fernando commenced with an open appeal to the audience to collaborate with the Ministry of Tourism on matters of MICE, encouraging them to secure conventions to be held in Sri Lanka. Fernando also highlighted that despite the pandemic, Sri Lanka has continued to make strides in tourism, having been featured by a plethora of notable institutions such as Conde Nast Traveller and Lonely Planet. She added that the successful vaccination drive in the country and the diligent health protocols in place would attract a large number of travellers. Ms. Fernando expressed optimism for tourism in the country, adding that Sri Lanka is firmly poised to deliver the needs and wants of the post covid traveller – wellness, nature, and space. A year round destination, Fernando believes the island’s strategic location, diverse experiences, melting pot of culture and rich history will draw a plethora of tourists, but opined that in order to widen appeal, necessary changes were required, including intuitive service, up-scaled offerings, disability friendly access, and upgraded facilities. “We are working on a global promotion campaign, and we’re looking to work with tourism stakeholders to improve standards so tourists could have a good experience every step of the way”. Ms. Fernando also shared that the country’s first holistic travel app was being conceptualized, and is tipped to provide information at one’s fingertips.
Speaking on the “Role of state institutions to develop MICE Tourism in Sri Lanka”, Ms. D. L. Sannasooriya shared that “the Bureau functions as a catalyst and commands the necessary government support in bidding for international and regional MICE events. It also acts as a coordinator in enlisting the cooperation and assistance of the public sector in organizing these gatherings”. Owing to the disruptions in tourism as a result of Covid-19 pandemic, Ms. Sannasooriya explained that the SLCB had taken steps in planning educational seminars, workshops, forums to create awareness among diplomats, airlines to equip and educate tourism stakeholders. “We invite the audience to host forums and events in Sri Lanka itself. We have a long tradition of hosting significant MICE events and we are fast becoming one of Asia’s most sought after MICE destinations”.
“MICE is a high yielding tourism sector” she elaborated. “It brings more foreign exchange revenue, exposes the country to a new class of affluent visitors, employs a large number of support services resulting in significant indirect employment and generates knowledge sharing opportunities, scholarships, and investment opportunities which are essential for the development of the country. It also directly contributes to the efforts of the tourism industry to promote Sri Lanka as an upmarket tourism destination”. Ms. Sannasooriya also pledged support for local institutions bidding for MICE events to be held in the country.
In her segment on “Connecting Sri Lanka with the World of MICE”, Ms. Nadeeka Leeniyagoda remarked that while MICE is a niche market in Sri Lanka, it is actually a billion dollar segment globally. “As per 2018 statistics, the MICE domain was worth 800 billion USD, and by 2025, the value would reach 1.2 trillion. We have great potential in this segment”. Drawing attention to the varied scope of tourism avenues, Ms. Leeniyagoda showcased the benefits for the country including profit, awareness and the platform to build its profile. She also highlighted benefits for the country as a direct consequence of MICE events, adding “there is great potential for economic growth, it supports direct and indirect suppliers. Attendees will return with their families for vacations”. Ms. Leeniyagoda announced that Sri Lanka is hoping to establish conference centres, including one in Port City. “We are hoping to build MICE facilities and infrastructure to rival those of Dubai and Singapore”, she claimed.
Ms. Kimarli Fernando, Chairperson Sri Lanka Tourism, addressing the gathering
Buddhika Hewawasam, Manager – Sri Lankan Holidays took the podium to share that Sri Lankan Airlines is appropriately placed to support MICE initiatives. “As the national airline, we do have a responsibility towards tourism, so we invite all tourism stakeholders – especially MICE – to use our facilities and our support. Air travel is vital for MICE tourism to prosper and we can connect you with the world through the MICE tourism network”. Connecting 416 destinations and 55 countries,
Hewawasam stated that despite the pandemic, SriLankan Airlines continues to expand its network and recently recommenced flights to key cities in France and Germany. He further mentioned that SriLankan Airlines is focusing on facilitating MICE events and working with partners simultaneously; embarking on joint promotional efforts, additional assistance, discounts and accommodating a plethora of requirements. He concluded by sharing that the Forum was an eye opener for stakeholders, as it showcased the support available to them.
The final speaker at the Forum, Ms. Anusha Mohotti’s segment comprised “Experience sharing – Bidding and winning an International Conference to Sri Lanka”. Sharing her experience successfully securing the opportunity to host an event in Sri Lanka, she elaborated on the processes, the challenges as well as the support received from various institutions in hosting the event.
The last Forum of the series, which is the Fifth SLCB Chairperson’s Forum on MICE hosted in the afternoon at Taj Samudra Colombo amidst a gathering of key individuals from educational institutions, sought to educate on how to organize an international conference in Sri Lanka and encourage them to host and organize conferences. Speakers at the event were Krishantha Fernando, Ms. Kimarli Fernando, Ms. Nadeeka Leeniyagoda, Dr. Shaffaath Amidon, Buddhika Hewawasam and Pro. K. P. Hewagamage. Dr. Shaffaath Amidon spoke on the role of higher educational institutions to develop MICE tourism in Sri Lanka and urged them to make Sri Lanka a ‘knowledge hub’. Prof. K. P. Hewagamage, Director of University of Colombo School of Computing who played a leading role in organizing the International Conference on Advances in ICT for Emerging Regions (ICTer) at the University of Colombo for the first time, spoke on his experience in organizing the Conference annually. This year it was held for the 21st time. He encouraged the participants to organize international conferences in Sri Lanka which are relevant to their subject areas.
Business
Embedding human rights, equity and integrity into business leadership
At its 2026 Social Sustainability Programme Kick-Off, the UN Global Compact Network Sri Lanka convened business leaders to advance the translation of global ambition into practical corporate action on inclusion, integrity and human rights.
On 24 February 2026, the UN Global Compact Network Sri Lanka (Network Sri Lanka) convened business leaders at Barefoot Garden Café for its 2026 Social Sustainability Programme Kick-Off, delivered in collaboration with Good Life X.
The gathering did more than introduce a calendar of events. It positioned Sri Lanka’s corporate community within the broader direction of the UN Global Compact’s 2026–2030 global strategy — a strategy anchored in three imperatives: equipping companies to act, catalyzing collective action, and advancing the business case for responsible leadership.
At its core, the 2026 Social Sustainability agenda is designed to move companies from commitment to capability.
Within the Diversity & Inclusion Working Group, this means building practical pathways toward equal pay for equal work and strengthening male allyship as a governance issue rather than a cultural afterthought. It means examining sexual and reproductive health, disability inclusion, and mental health not as employee benefits, but as structural determinants of productivity and retention. It means sharpening strategic communications so inclusion is embedded in brand integrity. It also means applying science-based behavioural change approaches to shift organizational culture in measurable ways.
Across the Business & Human Rights Working Group, equipping companies takes the form of deepened engagement on decent work and living wage implementation, strengthening human rights due diligence processes, and addressing emerging risk areas such as AI and digital rights. It extends to reinforcing business integrity and anti-corruption frameworks, understanding the social dimensions of a just transition, and recognizing the link between child rights, nutrition, and workforce productivity.
Business
Union Bank to raise LKR 3 Bn via Basel III Compliant Debenture Issue
Union Bank of Colombo PLC announced its proposed Debenture Issue 2026, a strategic move aimed at raising up to LKR 3 billion. This issue is designed to bolster the Bank’s Tier II capital base and provide a robust financial foundation for its upcoming growth initiatives.
The offering consists of Basel III compliant, listed, rated, unsecured, subordinated, redeemable high-yield debentures with Non-Viability Conversion. The instrument has been assigned a rating of BB (lka) by Fitch Ratings (Lanka) Ltd, reflecting the bank’s creditworthiness and the structured nature of the subordinated debt.
Investors can choose from three distinct interest structures starting from a high-yield 13% fixed rate per annum (Type A). This option is paid annually, while Type B offers a 12.5% fixed rate paid semi-annually (12.89% AER). For those seeking market-linked returns, Type C provides a floating rate of the 182-days Treasury Bill rate plus a 400-basis point margin, also paid semi-annually.
The debentures are priced at LKR 100 per unit with a 5-year tenure (2026–2031). The initial issue size is set at 20,000,000 debentures with an option to raise 10,000,000 at the discretion of the Bank and is scheduled to open on 10 March 2026.
Shanka Abeywardene, Chief Financial Officer of Union Bank stated “This debenture issue marks a significant step in the Bank’s journey towards enhanced financial stability. By strengthening its capital adequacy, Union Bank is well-positioned to navigate evolving market conditions while fuelling its long-term strategic objectives for sustainable growth”
Business
Sanjay Kulatunga appointed to WindForce Board
WindForce PLC announced the appointment of Sanjay Kulatunga as an Independent, Non-Executive Director to its Board with effect from 03rd March 2026, following the resignation of Dilshan Hettiaratchi. The appointment further strengthens the Company’s governance framework, strategic oversight, and long-term decision-making capabilities.
Kulatunga brings an established track record as a founder, entrepreneur, and senior executive across financial services and export-oriented industries. He is the Chief Executive Officer and Co-Founder of LYNEAR Wealth Management, a boutique investment firm established in 2013, which has since grown to become one of Sri Lanka’s largest private wealth management institutions, serving high-net-worth individuals as well as local and international institutional clients.
Prior to founding LYNEAR, Kulatunga played a pivotal role in the establishment of Amba Research, an investment research offshoring firm rooted in Sri Lanka and now operating as part of Acuity Analytics.
Over the years, he has contributed extensively to several key national institutions. His previous appointments include serving on the Financial Sector Stability Consultative Committee of the Central Bank of Sri Lanka, as well as the Board of Investment of Sri Lanka and the Securities and Exchange Commission of Sri Lanka.
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