Business
EU hands over new homes under ‘Homes not Houses’ project
Implemented by Habitat for Humanity Sri Lanka and World Vision Lanka
Representatives of the European Union (EU) ceremoniously handed over homes to owners under the ‘Homes not Houses’ project, a EUR 14 million EU funded project, implemented in the North and East of Sri Lanka. Habitat for Humanity Sri Lanka and World Vision Lanka successfully concluded this multi-year, multi-faceted undertaking that empowered more than 2,370 conflict-affected families to resettle and rebuild their lives and future through sustainable housing and community economic development.
“Our lives have taken a turn for the better. We now dare to dream of a better future for our children who want to be doctors, teachers and bankers to contribute to the development of our country. We cannot express in words the hardships we faced during the war but we can express our heartfelt gratitude towards all those who assisted us to rebuild, resettle and regain our dignity. There are many more families who need help just like us. We hope they too will receive the same support”, expressed home-owner Nagalingam Sandiran of Karaichchi, Kilinochchi.
Speaking at the handing over ceremony in Kilinochchi, EU Ambassador Denis Chaibi said “This project is about investing in people, particularly those who have gone through the hardships of violent conflict, to build on their resilience. We hope that as we invest in people, these beneficiaries will also invest in themselves and each other by working together in ways that will bring results and advance peace and reconciliation. The “Homes not Houses” project is also noteworthy for its approach, prioritising owner-driven, environmentally friendly construction. So, it is an amalgam of two EU priorities: investing in people and preserving the environment.”
“Habitat for Humanity Sri Lanka was honoured to work alongside families in need of safe and secure housing where children can study and play in a healthy environment while parents can focus on improving their livelihoods and communities can contribute to social cohesion” said Yu Hwa Li, National Director, Habitat for Humanity Sri Lanka. “We greatly appreciate the unwavering support of the European Union and World Vision Lanka that ensured a successful completion.”
With this project the EU concluded its decade long “Aid to Uprooted People” programme in the country, during which the EU provided more than EUR 50 million towards owner-driven reconstruction for over 20,000 households and internally displaced persons affected by conflicts. In addition, as compared to other existing housing programmes in the country, the project adopted an innovative “home owner driven” approach where the households contributed directly to the design and construction of their home. It also featured the use of innovative, sustainable and low-carbon construction technologies and materials locally produced such as compressed stabilized earth blocks1 with about 45% of the houses built. It is known as one of the best examples of Habitat’s climate-sensitive initiatives where families and masons had opportunities to learn about the benefits and utilize sustainable construction technologies and materials that are an alternative to mining sand known for their negative impact on the environment but also an alternative to use of costly and carbon intensive imported cement.
Also present was the Government Agent for Kilinochchi Rubawathy Ketheeswaran who oversees the development work by several NGOs and state entities in the North related to the resettlement of IDPs. Commenting on the project Mrs. Ketheeswaran said, “It was my responsibility to promote this project’s unique concept of eco-friendly construction concept and I was able to enlighten the people about its benefits in terms of the cooling effect and efficiency in electricity consumption.”
The project also featured an economic and livelihood development component. About 46,000 people improved their self-sufficiency through skills training and livelihood support in husbandry, agriculture, home-based construction enterprises, and built resilience through disaster risk reduction mapping and drainage and culvert improvements. “It’s wonderful to see the impact of this partnership between the European Union, Habitat for Humanity and World Vision” said Shelby Stapleton, Director of International Resource development and Management, World Vision Lanka “Working together with the government and community to secure livelihoods and homes, not houses, is critical for stability and cohesion, and we are thrilled to see the fruits of this labour today”
Business
Dialog delivers strong growth, stronger national contribution in FY 2025
Dialog Axiata PLC announced, Friday 6th February 2026, its consolidated financial results (Reviewed) for the year ended 31st December 2025. Financial results included those of Dialog Axiata PLC (the “Company”) and of the Dialog Axiata Group (the “Group”).
Group Performance
The Group delivered a strong performance across Mobile, Fixed Line and Digital Pay Television businesses recording a positive Core Revenue growth of 16% Year to Date (“YTD”). Group Headline Revenue reached Rs179.6Bn, up 5% YTD, despite the continued strategic scaling down of low-margin international wholesale business. In Q4 2025, Revenue was recorded at Rs46.5Bn up 2% Quarter-on-Quarter (“QoQ”) and 2% Year-on-Year (“YoY”).
The Group Earnings Before Interest, Tax, Depreciation and Amortisation (“EBITDA”) reached Rs86.0Bn up 30% YTD supported by Core Revenue performance and Cost Rescaling Initiatives. On a QoQ basis Group EBITDA demonstrated a modest growth to record at Rs23.0Bn up 2% QoQ with an EBITDA margin of 49.5% in line with the Revenue performance. Group EBITDA margin reached 47.9% for FY 2025, up 9.2pp.
Group Net Profit After Tax (“NPAT”) reached Rs20.8Bn for FY 2025, up 67% YTD mainly resulting from robust EBITDA growth, despite higher tax and net finance costs. Normalized for forex impact, NPAT growth was recorded at +>100% YTD to reach Rs22.1Bn. On a QoQ basis NPAT grew 3% to reach Rs5.9Bn resulting from strong EBITDA performance.
On the back of strong operational performance, the Group recorded Operating Free Cash Flow (“OFCF”)
of Rs49.3Bn for FY 2025 up >100% YTD.
Dividend Payment to Shareholders
In line with the dividend policy and financial performance of the Group and taking into account the forward investment requirements to serve the nation’s demand for Broadband and Digital services, the Board of Directors of Dialog Axiata PLC at its meeting held on 6th February 2026, resolved to propose for consideration by the Shareholders of the Company, a dividend to ordinary shareholders amounting to Rs1.50 per share. The said dividend, if approved by shareholders, would translate to a Dividend Yield of 5.0% based on share closing price for FY 2025. The dividend so proposed will be considered for approval by the shareholders at the Annual General Meeting (AGM) of the Company, the date pertaining to which would be notified in due course.
Company and Subsidiary Performance
At an entity level, Dialog Axiata PLC (the “Company”) continued to be the primary contributor to Group Revenue (76%) and Group EBITDA (74%). Aided by sustained growth in the Data segment and cost-rescaling initiatives, Company revenue was recorded at Rs135.8Bn for FY 2025, up 18% YTD, EBITDA rose 32% YTD to reach Rs63.6Bn. On a QoQ basis, Q4 2025 Revenue was recorded at Rs34.8Bn, down 1% QoQ due to a reclassification of Hubbing Revenue, while EBITDA decline 1% QoQ to record Rs17.0Bn, largely attributable to network restoration costs and donations made in relation to the Cyclone Ditwah relief efforts. Furthermore, NPAT was recorded at Rs15.6Bn for FY 2025, up 41% YTD. Normalised for forex impacts, the company NPAT was up +>100% YTD to reach Rs17.0Bn. On a QoQ basis, Company NPAT was recorded at Rs4.5Bn, down 6% QoQ.
Business
Ceylinco Life’s Pranama Scholarships reach 25-year milestone
Ceylinco Life has announced the launch of the 25th consecutive edition of its flagship Pranama Scholarships programme, marking a significant milestone in the company’s long-standing commitment to recognising and rewarding excellence among the children of its policyholders.
Under the 2026 programme, the life insurance market leader will present scholarships with a total cumulative value of Rs. 22.7 million, continuing a rewards initiative that has now been conducted without interruption for a quarter of a century. Since its inception, the Ceylinco Life Pranama Scholarships programme has benefitted 3,466 students across the country, representing a total investment of Rs. 240 million in nurturing academic achievement and outstanding performance in sports, arts and other extracurricular pursuits.
Business
Sri Lankans’ artistic genius glowingly manifests at Kala Pola ‘26
The artistic genius of Sri Lankans was amply manifest all over again at ‘Kala Pola ‘26’ which was held on February 8th at Ananda Coomaraswamy Mawatha Colombo 7; the usual, teeming and colourful venue for this annual grand exhibition and celebration of the work of local visual artists.
If there is one thing that has flourished memorably and resplendently in Sri Lanka over the centuries it is the artistic capability or genius of its people. It is something that all Sri Lankans could feel a sense of elation over because from the viewpoint of the arts, Sri Lanka is second to no other nation. With regard to the visual arts a veritable dazzling radiance of this inborn and persisting capability is seen at the annual open air ‘Kala Pola’.

A bird of Sri Lanka created from scraps of iron waste.
All capable visual artists, wherever they hail from in Sri Lanka, enjoy the opportunity of exhibiting their work at the ‘Kala Pola’ and this is a distinctive ‘positive’ of this annual event that draws numberless artists and viewers. There was an abundance of paintings, sketches and sculptures, for instance, and one work was as good as the other. Ample and equal space was afforded each artist. Its widely participatory and open nature enables one to describe the exhibition as exuding a profoundly democratic ethos.
Accordingly, this time around at ‘Kala Pola ‘26’ too Sri Lankans’ creative efforts were there to be viewed, studied and enjoyed in the customary carnival atmosphere where connoisseurs, local and foreign, met in a sprit of camaraderie and good cheer. Many thanks are owed once again to the George Keyt Foundation for the presentation of the event in association with the John Keells Group and the John Keells Foundation, not forgetting the Nations Trust Bank, which was the event’s Official Banking Partner. The exhibition was officially declared open by Chief Guest Marc-Andre Franche, UN Resident Coordinator in Sri Lanka.
By Lynn Ockersz
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