Business

BOC launches ‘Export Circle’ to drive SMEs to the level of institutional exporters

Published

5 years ago

2021/08/3

BOC Director G. Harsha Wijayawardhana launches the Trade Finance Division of BOC with the aim of facilitating exporters.Pic by Saman Ranaweera

By Sanath Nanayakkare

BOC’s newest initiative’ Export Circle’ is designed to facilitate Sri Lanka’s SME exporters to climb the ladder and become diversified institutional level exporters, without being stuck in a rut forever, D.P.K Gunasekera, General Manager of Bank of Ceylon said yesterday.

“Earning substantial foreign exchange will have a direct influence on our economic development, so one of the most vital inflows we want is more foreign exchange earned from our exports, and we need to boost this income beyond the conventional export basket. In the past it was said that no nation would develop without innovations. But in today’s world the fact of the matter is; if a nation doesn’t innovate and export innovative goods to meet the demands of the consumers, that nation will never develop itself,” he said.

“We once visited a customer of the Bank of Ceylon who imports base oil and processes it into a line-up of lube base oil products for export. He told us that he had been inspired by how lube base oil refinery in South Korea set a milestone in South Korean base oil market. He told us although South Korea entirely depended on imported raw material to make this product range, it has today emerged as a leading supplier of lube base oil, acquiring a 30% of the world’s market share. This shows what is important is not just what kind of natural resources a country has, but how much talent, innovative thinking and commitment a nation has, in order to broad base their export product portfolio. The Bank of Ceylon’s newest initiative will help fill this gap and support entrepreneurs of that ilk,” he said.

BOC General Manager made these remarks at a forum held yesterday in line with the Bank’s 82nd Anniversary celebrations which also saw the ceremonious launch of the BOC “Export Circle”, by Prime Minister Mahinda Rajapaksa via virtual screen from Temple Trees.

The move was initiated by the Trade Finance Division of BOC with the aim of accommodating exporters from all-walks-of-life. This fully-fledged one stop export unit located at the Bank’s Head Office ‘Trade Services’ department, is built with a state-of-the-art ambiance to add a relaxed and pleasant customer experience.

Further speaking Gunasekara said,”The programme has the intention of accommodating the financial and non-financial needs of these exporters and their supply chain management. This novel ‘circle’ concept will provide a tailor-made service with a credit package and a new deposit scheme. Among many useful facilities the exporters will experience are the trade information-desk which will provide up to date, end-to-end supply chain information, high standard advisory/consultancy services which is expected to iron out issues that could emerge when carrying out export transactions and assistance of business registration related services from documentation to other procedures which are crucial for the exporter.”

“Launching this programme is not enough. Now we have to go out and facilitate entrepreneurs who possess this kind of talent and facilitate them with financial and non-financial support. We should educate them on how to optimise their export earnings, how their businesses could be financially savvy in the overseas market and even provide them with currency hedging strategies they would need to know as exporters. Especially we are going to assist SMEs with an export potential or already exporting to come up to institutional level. It is the duty of BOC to facilitate exporters to bring in more foreign exchange and contribute to the development of the country,” he said.

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Business

SLEIS 2026 to examine Sri Lanka’s energy transition and its implications

Published

18 hours ago

2026/09/26

Thilina Walpola

Reliable and affordable energy is essential to Sri Lanka’s economic growth, industrial development and competitiveness. As the country seeks to strengthen energy security while reducing its dependence on fossil fuels, the energy sector will be a key area of discussion at the Sri Lanka Economic & Investment Summit 2026, organised by The Ceylon Chamber of Commerce on 12-13 October 2026.

The session, “Beyond Fossil Dependence: Balancing Security, Sustainability, and Growth,” will examine how Sri Lanka can diversify its energy sources, accelerate renewable energy adoption and attract investment while ensuring a reliable energy supply for businesses and households. Discussions will also consider the infrastructure and policy frameworks needed to support the country’s transition towards a modern and competitive energy system.

Ms. Edore Onomakpome – Regional Infrastructure Industry Manager – Bangladesh, Sri Lanka and Nepal, at the International Finance Corporation will keynote the session, and join the panel discussion featuring G.M.R.D. Aponsu – Secretary to the Ministry of Energy, Damitha Kumarasinghe – Director General (Chief Executive Officer), Public Utilities Commission of Sri Lanka, and Manjula Perera – Managing Director, WindForce PLC. The discussion will be moderated by Sheran Fernando – Senior Advisor, Plus94.

The session will also explore the role of public-private collaboration in developing new energy solutions, encouraging investment and creating opportunities within Sri Lanka’s evolving energy sector. It will consider how energy policy and investment decisions can support both economic expansion and the country’s longer-term sustainability objectives.

The Sri Lanka Economic & Investment Summit 2026 is supported by its valued sponsors and partners. Platinum Sponsor – Standard Chartered Bank Sri Lanka, Gold Sponsor – VISA Worldwide (Pvt) Ltd., Bronze Sponsor – South Asia Gateway Terminals (Pvt) Ltd., Strategic Development Partner – Asian Development Bank, Telecommunication Partner – Dialog Telecommunication, Television Partner – Dialog Television, Session Sponsors – David Pieris Motor Company (Pvt) Ltd., Hemas Holdings PLC, Sunshine Holdings PLC, International Construction Consortium (Pvt) Ltd., Official Logistics Partner – Hayleys Advantis Limited, Official Airline – SriLankan Airlines Ltd., Official Hospitality Partner – Shangri-La Colombo, Airline Partner – China Eastern Air Holding Co. Ltd.

Registrations are now open at https://sleis.chamber.lk/. For more information, contact Alikie on 011 558 8805 (alikie@chamber.lk) or Shanuka on 0701082541 (events.division@chamber.lk).

Business

A fresh chapter for the George Keyt Foundation: A renewed commitment to the Sri Lankan art ecosystem

Published

18 hours ago

2026/09/26

Thilina Walpola

The George Keyt Foundation (GKF), dedicated to preserving the legacy of modernist painter George Keyt and fostering local art, has announced strategic appointments to its leadership team, bringing together a mix of global academic expertise, corporate leadership, and artistic passion. These enhancements aim to inject fresh expertise and academic depth into the Foundation’s long-term vision.

Establishment of the New Advisory Committee

To broaden its operational reach and deepen its engagement with the global art market, the George Keyt Foundation has established an Advisory Committee. The newly appointed committee members include:

• Dr Sujatha Meegama is a Senior Lecturer in Buddhist Art History at the Courtauld. She is an acclaimed art historian, author and academic, bringing specialised knowledge in South Asian art history to guide the foundation’s curatorial and educational directives.

• Dr Shamil Wanigaratne: A clinical psychologist, author, and avid art historian, Shamil will lend his unique perspective to help the foundation design meaningful public outreach and cultural preservation strategies.

• Abbas Esufally: A veteran corporate leader and patron of the arts, Abbas is transitioning from his role as a GKF Trustee to this advisory position, where he will continue to offer his sharp business acumen and extensive network.

New Trustee Appointment

Leesha Captain has been appointed to the Board of Trustees. Inspired by Sri Lankan artists, Leesha is a recognised supporter of the local art scene. Leesha’s hands-on perspective will strengthen the foundation’s core team as they develop and design new art programs.

A Vision for the Future

“These new appointments mark an exciting chapter for us as we build on our decades-long history of promoting Sri Lankan artists,” says Malaka Talwatte, Chairman of the Foundation. “The combination of Leesha on the board, alongside the diverse expertise of our new Advisory Committee, will significantly amplify our efforts in curating high-profile exhibitions and expanding local and international partnerships”.

Business

Sun Siyam Pasikudah celebrates World Tourism Day with culture, cuisine and community

Published

18 hours ago

2026/09/26

Thilina Walpola

Sun Siyam Pasikudah, part of the Privé Collection under Maldivian-owned Sun Siyam Resorts, will mark World Tourism Day on 27 September 2026 with a full day programme celebrating the culture, cuisine and natural beauty of Sri Lanka’s east coast, paired with community focused sustainability activities.

The celebrations open with a special buffet of authentic Sri Lankan cuisine, followed by a street food festival showcasing regional snacks and traditional sweets rarely found on resort menus. A signature World Tourism Day mocktail and cocktail, created for the occasion, will be served through the day, while traditional Sri Lankan cultural dance performances bring the island’s heritage to life for guests.

Beyond the festivities, the resort has planned a tree planting activity with guests and a beach or park clean up campaign, both reflecting Sun Siyam Pasikudah’s ongoing commitment to responsible tourism along Sri Lanka’s northeast coast.