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ADB’s knowledge engagement in Sri Lanka to be aligned with govt’s reform programme

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The assistance of the Asian Development Bank (ADB) to help Sri Lanka recover from the crisis will be aligned with the strategic objectives of the Bank’s country partnership strategy (CPS) 2024–2028, Takafumi Kadono, Country Director, Sri Lanka Resident Mission, ADB said.

Mr. Kadono made this comment at the ‘Serendipity Knowledge Programme’ (SKOP) held on April 3, at the Cinnamon Lakeside Hotel in Colombo. The latest event under SKOP saw the launch ADB’s Country Plan 2024-2028, which will guide its operations in Sri Lanka over the next five years.

Mr. Utsav Kumar, Senior Country Economist ADB gave a comprehensive overview of CPS, setting the tone for ADB’s knowledge programme dedicated to Sri Lanka.

The programme is designed to respond effectively to the country’s needs in line with the vision of ADB as a knowledge solutions bank. SKOP seeks to share knowledge on issues relevant to Sri Lanka and facilitate discussion among stakeholders.

“During 2024-2028, ADB operations in Sri Lanka will focus on strengthening public financial management and governance, fostering private sector development promoting green growth, and improving access to climate-smart public services and deepening inclusion,” Mr. Kadono said.

“To revive Sri Lanka’s crisis-affected economy and address the root causes of the crisis, the government has embarked on an ambitious reform programme, supported by an International Monetary Fund extended fund facility. Policy advisory support, technical assistance, and knowledge solutions will underpin Asian Development Bank (ADB) assistance to help the country recover from the crisis,” he emphasised.

The following are some excerpts from his speech.

“Sri Lanka’s reforms to restore debt sustainability focus on improving public financial management (PFM), increasing domestic resource mobilization (DRM), reforming state-owned enterprises (SOEs), and addressing governance weaknesses. To address long-standing DRM limitations, knowledge support and capacity building will be needed for property tax reform and strengthening tax administration. ADB will provide knowledge support for diagnostic assessments and for identifying solutions based on global good practices on PFM strengthening and debt management, and for improving SOE performance. Capacity building will also be needed to strengthen institutions and improve governance. Knowledge support and capacity building are required to transition to a low-carbon and resilient economy through climate diagnostic studies, climate change regulatory and planning frameworks, training on climate-informed decision-making, and greening the PFM system.”

“To foster private sector development (PSD), knowledge support is needed for introducing policies and regulations to create an enabling environment for private investment and public–private partnerships. Knowledge solutions are needed to boost trade and integration with global value chains, develop economic zones and promote an ecosystem for small and medium-sized enterprise (SME) development.”

“Areas that require comprehensive knowledge inputs include finance sector stability and sustainability, capital market development, legal and regulatory frameworks for sustainable finance, development of a green bonds framework, and financial inclusion. ADB’s support for reforms in these areas will be accompanied by assistance to build capacity in existing or new institutions. Further, capacity building and knowledge support will be provided to improve trade facilitation and enable the country to integrate better into global and regional markets,” he said.

ADB will collaborate and coordinate with other development partners on knowledge support through the Development Partner Secretariat and the MDB+ platform to avoid duplication, realise synergies, and share expertise. ADB and the ADB Institute will also proactively engage with the private sector, civil society, think tanks, and academia, as necessary, to leverage their knowledge base for implementation of the country knowledge plan.



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Lanka Aluminium collaborates with SLIA to organize factory visit for architects

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The architects at the Lanka Aluminium Industries PLC factory in Ekala, Ja-Ela

Lanka Aluminium Industries PLC, Sri Lanka’s pioneering aluminium extruder, in collaboration with the Sri Lanka Institute of Architects (SLIA), recently facilitated a full-day visit to its aluminium extrusion factory in Ekala, Ja-Ela. The factory visit was arranged as one of the programmes under the “Specification Writing for Architects” programme, which was initiated by the President of the Sri Lanka Institute of Architects – Ms. Dilumini De Mel, who also joined the visit with a group of senior architects.

Lanka Aluminium will continue to organize similar programmes to raise awareness of aluminium extrusion-based products and solutions for government institutions, supplementing the many similar programmes already carried out.

“We have the in-house knowledge and expertise to assist the architects and consultants in choosing the most appropriate systems. This is essential for the success of any installation, to ensure optimal performance and value. For example, an over-specified window system will unnecessarily increase costs, while an under-specified system will result in poor performance,” stated Dinal Peiris, Chairman – Lanka Aluminium Industries PLC.

The pioneer in the aluminium extrusion industry in Sri Lanka, Lanka Aluminium Industries PLC is a BOI-approved public quoted company specializing in the manufacture of high-quality aluminium extrusions for architectural, hardware, transport, and specialist applications. It has over 40 years of experience providing aluminium extrusion solutions of the highest standards and quality for buildings and high-rises. Some of these have been recognized with international awards. The leader in innovation and design, their products are manufactured to meet British and other international standards while keeping abreast of the latest industry trends.

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Sun Siyam Pasikudah hosts Miss Polski 2026 finalists for exclusive photoshoot on Sri Lanka’s East Coast

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Privé Collection resort welcomes 24 finalists and crew on the East Coast leg of their pre-final tour, in partnership with Sri Lanka Tourism

Sun Siyam Pasikudah, part of the Privé Collection under Maldivian-owned Sun Siyam Resorts, the Privé Collection property of The House of Siyam, recently played host to the finalists and crew of Poland’s national beauty pageant, Miss Polski 2026, as part of an island-wide tour organised in partnership with the Sri Lanka Tourism Promotion Bureau (SLTPB).

The 24 finalists, accompanied by reigning titleholders Oliwia Mikulska (Miss Polski 2025) and Kasandra Zawal (Miss Polski 2024), along with a 45-member production and competition crew, arrived in Sri Lanka on 7th June 2026 for a 10-day tour ahead of the grand final in Nowy Sącz on 2nd August, which will be broadcast live on Polsat. The itinerary, which began in Sigiriya before moving on to the East Coast, was designed to showcase the island’s cultural heritage, natural beauty, and wildlife to an international audience, with the group’s experiences and photography shared widely across Polish media throughout the tour.

As part of this journey, the group spent two nights at Sun Siyam Pasikudah, where the resort’s pristine beachfront and laid-back East Coast setting provided the backdrop for an exclusive promotional photography session featuring the finalists.

Commenting on the initiative, Masitha De Thabrew, Deputy Director of the Sri Lanka Tourism Promotion Bureau, said the collaboration was aimed at putting Sri Lanka’s lesser-explored destinations in front of a global audience through platforms like Miss Polski, while giving the finalists an authentic taste of the island’s hospitality and scenic diversity.

Arshed Refai, General Manager of Sun Siyam Pasikudah, said the team was delighted to welcome the Miss Polski finalists and crew to the property, adding that moments like these are a reminder of just how much the East Coast has to offer international visitors and productions alike, from its calm turquoise waters to the warmth of the welcome they receive on arrival.

For Sun Siyam Pasikudah, the visit offered an opportunity to showcase the East Coast’s appeal as an emerging destination for both leisure travellers and international productions, reinforcing the resort’s position as a boutique escape that pairs natural beauty with refined hospitality.

Set along one of Pasikudah’s most idyllic stretches of coastline, the resort is known for its shallow, calm lagoon waters, powder soft sands, and uninterrupted views of the bay, framed by swaying palms and the kind of quiet that makes the East Coast feel worlds away. Its understated villas and suites, many opening directly onto the beach, are designed to blend into this natural setting rather than compete with it, offering guests a sense of seclusion paired with the personalised service The House of Siyam is known for.

Tucked along one of Sri Lanka’s most unspoiled coastlines, Sun Siyam Pasikudah’s 34 contemporary pavilions sit lightly on the landscape, part of a wider commitment to sustainability that runs through solar power, water conservation, and a waste approach built on reduction, recycling, and composting. As the boutique tier of The House of Siyam, the Privé Collection property is built for travellers drawn to a sense of place rather than just a view, something reflected in experiences like its floating platform dining, set against the bay and the Indian Ocean beyond.

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Oil market volatility reverberates in local stock trading

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The CSE yesterday kicked off on a positive sentiment but later turned volatile due to global factors, such as the oil price rise stemming from West Asian tensions, market analysts said.

The All Share Price Index went down by 107.39 points, while the S and P SL20 declined by 22.24 points. Turnover stood at Rs 1.09 billion with five crossings.

Those crossings were reported in Lanka IOC which crossed 748841 shares to the tune of Rs 102 million; its shares traded at Rs 136, CCS 500,000 shares crossed for Rs 62 million; its shares traded at Rs 124, HNB (Non-Voting) 92000 shares crossed to the tune of Rs 29 million; its shares traded at Rs 315, Access Engineering 351,200 shares crossed for Rs 27 million; its shares sold at Rs 76 and Commercial Bank 100,000 shares crossed for Rs 20 million; its shares traded at Rs 202.

In the retail market top seven companies that mainly contributed to the turnover were; Dipped Products Rs 82 million (1.5 million shares traded), Sampath Bank Rs 63 million (463,000 shares traded), CCS Rs 34 million (471,000 shares traded), Commercial Bank Rs 37 million (152,000 shares traded), Pan Asia Bank Rs 31 million (600,000 shares traded), Softlogic Capital Rs 25.7 million (2.3 million shares traded) and Sierra Cables Rs 25 million (928,000 shares traded).

During the day 48.7 million share volumes changed hands in 13054 transactions.

It is said that banking sector counters, especially HNB and Sampath Bank, performed well while the manufacturing sector, especially Dipped Products, also performed well. Further, the petroleum sector also performed well, especially Lanka IOC, due to global oil price hikes, market analysts said.

Meanwhile, BPPL Holdings announced its wholly owned subsidiary, Beira Brush (Private) Limited, entered into a Business Transfer Agreement to acquire the customer base of Ravi Industries, along with the “Ravi” trademark and related intellectual property. The minimum total consideration for the acquisition is Rs 300 million, which will be paid over a five-year period based on revenue generated from the acquired asset base.

Yesterday the rupee was quoted at Rs 336.30/50 to the US dollar in the spot market, from Rs 336.00/20 the previous day, while bond yields were slightly higher, dealers said.

On Monday, the government sold Rs 15 billion in 2030, 2034 and 2037 bonds.

A bond maturing on 01.08.2030 was quoted at 11.50/55 percent, up from 11.40/45 percent.

A bond maturing on 15.10.2030 was quoted at 11.55/60 percent, up from 11.50/55 percent.

A bond maturing on 01.11.2033 was quoted at 11.80/85 percent, up from 11.75/85 percent.

A bond maturing on 15.06.2034 was quoted at 11.95/12.05 percent, up from 11.80/90 percent.

A bond maturing on 15.10.2034 was quoted at 12.00/08 percent.

A bond maturing on 01.07.2037 was quoted at 12.58/62 percent.

Rs. 120,000 million Treasury Bills are to be issued through an auction on July 15.

By Hiran H. Senewiratne

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