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Agreement to operate Sri Lanka’s first downtown duty free store

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Pictured L-R: Dr Priyath B. Wickrama (Director General of the Commission and Commission Member), Ms Keira Zhang (Founder & CEO of ODF) at the Authorised Person Agreement Signing Ceremony.

Marking a major step in one of South Asia’s most transformative development projects, Singapore-owned omnichannel retailer, One World Duty Free, and Port City Colombo have signed two agreements to operate Sri Lanka’s first-ever downtown duty-free store.

One World Duty Free (ODF) and the Colombo Port City Economic Commission (Commission) have taken a pivotal step in their alliance this week. At a ceremony held at the Colombo Port City Economic Commission’s office, ODF’s Founder and CEO Ms Keira Zhang and Dr Priyath B. Wickrama, Director General & Commission Member of the Colombo Port City Economic Commission (Commission), ratified their commitment to a strategic partnership aimed at shaping Port City Colombo’s global trajectory.

The partnership was underscored with the formalisation of two critical agreements: an Authorised Person Agreement between ODF and the Commission on 23 May 2023; and a lease agreement between ODF and CHEC Port City Colombo Pvt Ltd (CPCC) on 22 May 2023. These agreements, embodying their shared vision, lay the groundwork for ODF to transform Port City Colombo into an eminent global duty-free retail hub.

Keira Zhang, Founder & CEO of One World Duty Free, commented: “In our partners at Port City Colombo, we recognise a level of ambition which is perfectly aligned with One World Duty Free’s game-changing approach to duty-free retail. The opportunity to showcase our credentials on the world stage and contribute to the creation of a landmark destination in Asia is a key milestone in One World Duty Free’s journey of progressive expansion across Asia.”

One World Duty Free (ODF) – Singapore-owned omnichannel duty-free operator – is set to develop and operate a 1,250 square metre duty free store at Port City Colombo, offering a curated mix of international brands spanning Beauty, Wellness, Spirits & Wines and Fashion. ODF’s first retail store outside of Singapore will be nestled within a 7,000 square metre shopping oasis, Port City Duty Free Mall, primely positioned amidst a throng of international prestige hotels and casinos that promise a diverse and affluent customer base of tourists, expatriates, and locals. Construction of the ODF store is slated to commence from mid-2023, with trading planned to kick off by year’s end. ODF Port City Colombo will offer travellers a purpose-built shopping environment enhanced by the company’s innovative approach to smart retail.

Dr Priyath B. Wickrama, Director General of the Commission and Commission Member of the Colombo Port City Economic Commission, commented: “In order to make our vision for Port City Colombo a reality, we have sought out best-in-class partners that can bring fresh thinking and innovation. One World Duty Free’s technology-led ethos and commitment to delivering memorable consumer experiences will play a critical role in ensuring we deliver a compelling retail offer to travellers from across the world and thus the Commission’s vision of creating Port City Colombo as a world-class touristic shopping destination.”

Anticipating a sustained resurgence in tourist arrivals following the COVID crisis, Port City Colombo is set to accelerate Sri Lanka’s economic development by creating a new gateway to South Asia through a range of state-of-the-art infrastructure, including commercial and residential buildings, recreational facilities, a financial district, and a modern transportation network. Developed in collaboration with the Government of Sri Lanka, and CHEC Port City Colombo (Pvt) Ltd (CPCC) as a public-private partnership, Port City Colombo is Sri Lanka’s biggest FDI-funded development project to date. With major investment plans for travel retail, entertainment, and leisure facilities in partnership with renowned international players, such as Singapore’s ODF, Port City Colombo is slated to become a prime tourism and shopping choice on par with landmark destinations such as Singapore and Dubai.

Together, ODF and the Commission are charting a bold and innovative course for the future, reinforcing their shared vision of driving Port City Colombo’s ascent on the global stage. Both parties stand poised to redefine the economic future of Port City Colombo, taking it from a burgeoning commercial nucleus to a premier duty-free retail hotspot.



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Indian business leader urges SL entrepreneurs to tap into India’s rapidly expanding consumer market

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T. Krishnakumar, Chief Executive Officer of Reliance Consumer Products Ltd (RCPL)

By Sanath Nanayakkare

Speaking at the Sri Lanka Economic and Investment Summit 2026, T. Krishnakumar, Chief Executive Officer of Reliance Consumer Products Ltd (RCPL), emphasised that local enterprises can unlock substantial economic benefits by strategically aligning with India’s booming consumer base.

Addressing business leaders and policymakers at the Shangri-La Hotel in Colombo, Krishnakumar highlighted that geographical proximity and rich cultural ties provide a natural foundation for deeper commercial collaboration.

He noted that instead of viewing bilateral trade narrowly, regional partnerships should act as conduits to build robust, scalable enterprises capable of plugging into wide-reaching regional value chains.

“For Sri Lankan exporters dealing in traditional staples as well as value-added goods, accessing India’s rising middle class presents a phenomenal growth window,” he said.

Drawing insights from Reliance Consumer Products’ rapid expansion – which scaled efficiently to thousands of employees and multi-billion-dollar metrics – Krishnakumar stressed that modern corporate success relies on disciplined execution, localised consumer understanding, and smart technology integration.

Furthermore, he underscored that while rapid growth is critical, businesses must consistently anchor their models in affordability and consumer trust.

Concluding his address at the summit, the RCPL chief noted that pairing regional trade integration with resilient business practices and predictable regulatory frameworks will be vital as Sri Lanka transitions firmly toward accelerated economic development.

Addressing the Summit during a subsequent fireside chat, President Anura Kumara Dissanayake underscored that a core concern currently being targeted by the government is developing a critical mass of local entrepreneurs equipped to engage with international enterprise counterparts.

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SriLankan Airlines wins prestigious SATA 2026 Visitors’ Choice Award for Leading International Airline

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SriLankan Airlines has once again been honoured with the prestigious Visitors’ Choice Award for Leading International Airline at the South Asian Travel Awards (SATA) 2026, reaffirming its continued recognition in the regional travel and tourism industry. The airline, which has received this award in previous years, was the only international airline to be recognised in this category at this year’s event. The 10th anniversary edition of the awards ceremony was held earlier this month at Hotel Barcelo Nasandhura in Male, Maldives.

Recognised as one of the key events on the Maldivian tourism and travel industry calendar, SATA celebrated its 10th anniversary on a grand scale, bringing together prominent industry stakeholders, including Government Ministers, distinguished dignitaries, diplomats and senior representatives from leading airlines and their respective head offices.

Commenting on the achievement, Dimuthu Tennakoon, Head of Commercial, SriLankan Airlines, stated, “We are honoured to receive this recognition at the South Asian Travel Awards 2026. Being named the Leading International Airline in the Visitors’ Choice Awards once again is a meaningful acknowledgement of our commitment to serving our passengers and strengthening our presence in the region. This award inspires us to continue enhancing the travel experience we offer and to build stronger connections with the markets and communities we serve.”

Complementing its commitment to service excellence, SriLankan Airlines offers an extensive flight network with convenient connections to destinations across the globe. In South Asia, the airline operates nearly 130 flights each week to 15 destinations across India, Pakistan, the Maldives, Nepal, and Bangladesh. With schedules thoughtfully designed to suit the needs of travellers, SriLankan Airlines provides seamless connectivity for those visiting Colombo for business or leisure, as well as passengers travelling onwards to destinations worldwide.

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JXG enters LMD’s Most Respected Entities in Sri Lanka 2026 for the first time, securing a place among the first 50

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Gamika de Silva, Group Chief Marketing Officer at JXG

JXG (Janashakthi Group), Sri Lanka’s leading financial conglomerate, has been ranked 44th in LMD’s Most Respected Entities in Sri Lanka 2026, marking the Group’s first appearance in the prestigious listing. The recognition places JXG among Sri Lanka’s most respected companies and marks an important milestone in the Group’s master-brand journey.

As the holding company, JXG was also recognised across key attributes including Aspirational Workplace, Business Expansion, Business Innovation, Corporate Culture, Corporate Dynamism, Crisis Management, Employee Wellbeing, Honesty and Integrity, and Leadership Profile. The recognition reflects the growing strength of the JXG brand and the collective contribution of its businesses and people in building trust and confidence among its stakeholders.

JXG’s subsidiaries, including Janashakthi Life and First Capital, have also been recognised in the main table of LMD’s Most Respected Entities 2026 rankings, while Janashakthi Finance has been recognised under the Business Expansion attribute, reflecting the strength of the Group’s individual businesses alongside its growing master brand.

Conceptualised and commissioned by LMD and conducted by PepperCube Research Consultants, the Most Respected Entities special edition recognises companies based on an independent survey of Sri Lanka’s business community.

Commenting on the recognition, Gamika de Silva, Group Chief Marketing Officer at JXG, said, “This is a proud moment for all of us at JXG. We set out to build a Group brand that is not just seen but lived by our people and reflected in everything we do. Ultimately, the true testament to any brand lies in its people, and the credit for this recognition goes to everyone across JXG who brings our values to life every day. This recognition is an encouraging milestone for us, while also reminding us to keep raising the bar and earning the respect of our stakeholders through what we do.”

JXG’s approach to building trust is anchored in its core values of Integrity, Collaboration, Respect, Performance Driven and Innovation. These values guide how its businesses operate, how its people engage with one another and how the Group serves its customers and wider stakeholders.

As JXG continues to expand its businesses, the Group remains focused on strengthening its market presence, creating long-term value and contributing to the growth of Sri Lanka’s financial services sector, guided by its purpose, Breaking Barriers, Forging Futures.

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