Business
Foreign trade is not just about importing and exporting goods, says German Delegation in Sri Lanka
Foreign trade is not just about importing and exporting goods; it’s about building long-lasting partnerships, opening markets, and engaging in a global dialogue, Marie Antonia von Schönburg, Chief Delegate of the Delegation of German Industry and Commerce in Sri Lanka said in Colombo Last week.She said so while speaking at the Global CEO Forum Sri Lanka held at Galadari Colombo, on 21st of September 2023.
“As we navigate the intricate web of international relations, economic challenges, and geopolitical uncertainties, it becomes increasingly evident that strong and visionary leadership is vital to ensure the prosperity and stability of our nations”, she said.
Speaking further she noted: “Turbulent times are not a new phenomenon. History has witnessed countless crises, conflicts, and economic upheavals. Yet, the challenges we face today are uniquely complex due to our interconnected global economy and the rapid pace of technological advancement. In such times, only leaders who understand the intricacies of foreign trade will make a significant impact.”
“First and foremost, leaders must recognize the crucial role that foreign trade plays in our economies. In today’s world, no nation can prosper in isolation. Trade is the lifeblood of modern economies, fueling growth, creating jobs, and stimulating innovation. Foreign trade is not just about importing and exporting goods; it’s about building long-lasting partnerships, opening markets, and engaging in a global dialogue.”
“However, foreign trade is not without its challenges, and more so in turbulent times. Trade tensions, protectionist policies, and geopolitical conflicts can disrupt the flow of goods and capital. To lead effectively in such an environment, leaders must show a deep understanding of these dynamics and the ability to navigate them skillfully. As a starter, leaders must be ethical and responsible. These attributes serve as the foundation of trust and credibility on the global stage. Ethical leadership involves upholding moral principles, especially when faced with challenging decisions.”
“Responsible leaders understand that their choices impact the well-being of both present and future generations. In a VUCA environment (Volatility, Uncertainty, Complexity, and Ambiguity) adaptability is the key. Turbulent times demand never-changing flexibility in response to ever-changing circumstances. Leaders must be ready to pivot and adjust their trade strategies in the face of constantly evolving challenges. This means having the foresight to anticipate disruptions and the agility to respond swiftly.”
“Promoting transparency and fairness is another critical aspect in foreign trade. Resorting to protectionism or engaging in unfair trade practices have long-lasting negative consequences. True leadership means upholding the principles of free and fair trade, ensuring a level playing field for everyone, and working towards a rules-based international trading system.”
“A highly skilled and adaptable workforce is a key requirement to be competitive in the global marketplace. Likewise, modern infrastructure is essential for the efficient movement of goods and services. When leaders prioritize these investments, they not only stimulate economic growth but also enhance their nation’s ability to compete on the world stage.”
“Moreover, leaders should harness the power of technology to facilitate trade. E-commerce, digital platforms, and data analytics are revolutionizing the way we conduct international business. Forward-thinking leaders must embrace these innovations and create an environment that fosters digital trade and cross-border cooperation.”
“In turbulent times, leaders must not forget about the environmental and social dimensions of foreign trade. Climate change and social inequalities are global challenges that cannot be ignored. Forward-looking leaders need to align their trade policies with sustainability goals, promoting responsible production and consumption patterns while addressing social injustices. A growing demand of consumers and investors to be socially and environmentally responsible is making this a strategic imperative.”
“Effective leadership in foreign trade requires collaboration and partnership on a global scale. No nation can address the challenges of our time by themselves. Leaders must actively engage in international forums – like Global CEO Forum -, support multilateral organizations, and work towards global solutions. By doing so, they strengthen their nation’s position and contribute to a more stable and prosperous world.”
“Leadership in turbulent times, especially from a foreign trade perspective, demands a unique set of skills and attributes. It requires responsibility, adaptability, transparency, and a commitment to fairness. It calls for investments in human capital and infrastructure, the embrace of technology, and a keen awareness of environmental and social concerns. Most importantly, it requires a global mindset that recognizes the interconnectedness of our world.”
“In the realm of foreign trade, our leaders have a profound responsibility to navigate us through turbulent waters, ensuring that our nations continue to thrive and that our world becomes a more prosperous and harmonious place for all,” she said.
Business
Historic launch of CCWE Fashion Week & International Summit 2026
The Ceylon Chamber of Women Entrepreneurs (CCWE) officially announced the CCWE Fashion Week & International Summit 2026 at a press conference held in Colombo, unveiling a historic national initiative that will mark the first-ever fashion week in Sri Lanka and the South Asian region dedicated exclusively to women entrepreneurs.
Held under the theme “Threads of Inclusion Woven from Every Walk of Life,” the event is scheduled to take place from 16th to 20th July 2026 at Cinnamon Life, Colombo, positioning Sri Lanka at the forefront of inclusive and sustainable fashion while creating a powerful platform for economic and social transformation.
This landmark initiative goes beyond fashion to deliver meaningful value to society by empowering women entrepreneurs across diverse communities, industries, and regions. By bringing together designers, artisans, SMEs, policymakers, investors, and international stakeholders, the event aims to create new market opportunities, strengthen financial inclusion, and promote sustainable livelihoods. It will serve as a catalyst for economic growth by supporting women-led businesses, enhancing export potential, encouraging youth participation in creative industries, and fostering regional collaboration across South Asia.
Supported by a strong network of corporate partners, the initiative is led by HNB as the Title Sponsor, reflecting a collective commitment to empowering women economically and driving more inclusive national progress.
Speaking at the press conference, Dr. Ayanthi Gurusinghe, President of CCWE and Chairman of the Fashion Week, stated, “Today we are announcing more than an event—we are introducing a national movement that will transform the way we view women entrepreneurs in Sri Lanka. This platform is designed to open doors for women from every walk of life, enabling them to convert talent into enterprise, gain access to markets, and contribute meaningfully to the economy. Through this initiative, Sri Lanka has the opportunity to lead the region in building a future where inclusion meets opportunity and equality.”
HNB, MD/ CEO, Damith Pallewatte, added, “For over 135 years, HNB has stood as a partner in progress to all Sri Lankans, and supporting women entrepreneurs is central to how we continue that legacy. This initiative creates a platform where women can access markets, build sustainable businesses, and contribute meaningfully to national economic development.
When women are empowered with the right access and support, the impact extends to families, communities, and the broader economy. Our decision to serve as Title Sponsor is driven by our commitment to enabling that access and supporting pathways for long-term growth through financial inclusion and enterprise development.”
Extending regional support, Mrs. Premila Acharya, President of the South Asian Women Development Forum (SAWDF), shared her support online, “The CCWE Fashion Week & International Summit 2026 is a landmark initiative that reflects the strength and potential of women entrepreneurs across our region. It is inspiring to see Sri Lanka take the lead in creating a platform where inclusion, opportunity, and equality come together. SAWDF is proud to stand in partnership with CCWE in empowering women through collaboration and shared progress.”
Highlighting achievements The United Nations Economic and Social Commission for Asia and the Pacific Subregional Office for South and South-West (ESCAP-SSWA) as Knowledge Partner Ms. Mikiko Tanaka, Head and Director noted “ESCAP is pleased to serve as a knowledge partner for the CCWE Fashion Week & International Summit 2026. This initiative reflects our shared commitment to enhance women entrepreneurs’ access to markets, finance and digital networks. Connecting women-led businesses to regional networks can further unlock opportunities outside Sri Lanka. We commend CCWE’s leadership in creating an enabling environment for women from diverse backgrounds to innovate, participate and contribute to inclusive and sustainable economic development.”
Business
Sri Lanka’s capital market gains international recognition for GSS+ Bond issuances
The Colombo Stock Exchange (CSE) announces that Sri Lanka’s capital market has received international recognition for the quality and innovation of its Green, Social, Sustainability and Sustainability-Linked (GSS+) bond issuances at the 2026 Sustainable Debt Awards hosted by Environmental Finance. This milestone reflects the continued strengthening of Sri Lanka’s sustainable finance landscape and its growing alignment with international capital markets.
This achievement builds on a sustained collaboration with the EU-funded Green Recovery Facility, implemented by Expertise France, which has supported the development and international positioning of Sri Lanka’s GSS+ bond market. Advisory and coordination support has been provided in close collaboration with the CSE, alongside technical inputs from the contracted consultancy team Baastel led by Jason Taylor.
Since supporting the operationalisation of Sri Lanka’s Green Bond Framework in 2023, this engagement has evolved into a broader effort to develop the country’s GSS+ bond market. Through strengthened policy alignment, market development, and stakeholder engagement, this partnership has contributed to corporate GSS+ bond issuances aligned with international standards.
Collectively, recent GSS+ bond issuances in Sri Lanka have mobilised approximately LKR 82 billion (around EUR 216 million) across green, blue, social, sustainability, and sustainability-linked instruments, financing priority sectors such as renewable energy, energy efficiency, water and coastal resilience, and inclusive social infrastructure. These issuances have been oversubscribed, reflecting growing investor confidence in Sri Lanka’s sustainable finance framework.
This progress has been supported by the introduction of Sri Lanka’s GSS+ Bonds Regulatory Framework in 2025, aligned with international principles, further strengthening market credibility and investor confidence.
The awards recognise the following Sri Lankan institutions:
DFCC Bank – Award for Innovation: Use of Proceeds (Green Bond, APAC)
Bank of Ceylon – Award for Innovation: Sustainability Bond Structure (APAC)
Commercial Bank of Ceylon – Green Bond of the Year (Financial Institution, APAC)
Thimal Perera, Director/Chief Executive Officer, DFCC Bank PLC said, “This recognition reflects the progress Sri Lanka’s capital markets are making in aligning with international sustainable finance standards and strengthening credibility with global investors. We are honoured to receive recognition in the area of innovation in use of proceeds, which highlights the growing ability of Sri Lankan institutions to structure financing solutions with transparency, measurable impact, and long-term relevance. We remain grateful to the regulators, market participants, technical partners, and investors whose continued support is helping advance Sri Lanka’s sustainable finance ecosystem.”
“We are honoured to receive the Environmental Finance’s Sustainable Debt Award for Innovation – Sustainability Bond Structure (APAC) for the Bank of Ceylon’s inaugural LKR 20 billion Basel III compliant Tier 2 Sustainability Bond – the largest sustainability bond issuance in Sri Lanka and the first of its kind. This alignment addressed both BOC’s capital adequacy requirements and commitment to aligning sustainable finance with national development priorities while advancing resilient and inclusive economic growth in Sri Lanka. As the first Sri Lankan bank to secure this prestigious global award, we wish to thank the Colombo Stock Exchange for their proactive coordination and encouragement. We also extend our sincere appreciation to all stakeholders who partnered with us in this trailblazing endeavor.” said Mr. G. A. Jayashantha, Acting Senior Deputy General Manager/ Head of Global Markets, Bank of Ceylon.
Remarking upon the award Sanath Manatunge, Managing Director / Chief Executive Officer of Commercial Bank of Ceylon said “Winning the ‘Green Bond of the Year’ award is a significant milestone for Commercial Bank and a strong endorsement of our commitment to sustainable finance and responsible banking. As the largest private bank in Sri Lanka, we recognise our responsibility to support investments that drive long-term environmental and economic resilience, particularly in the renewable energy sector. This recognition reflects the Bank’s strategic focus on advancing sustainable financing solutions that contribute meaningfully to the country’s climate goals and broader sustainable development agenda.”
These recognitions are particularly significant in the context of Sri Lanka’s ongoing economic recovery and debt restructuring process. As the country works to restore macroeconomic stability and rebuild investor confidence, the ability of Sri Lankan financial institutions to successfully issue GSS+ bonds aligned with rigorous international standards sends a strong signal to global capital markets.
Business
Uber introduces Hybrid Subscriptions for Moto and Tuk Drivers
Uber, Sri Lanka’s most loved ridesharing platform, today announced the launch of Hybrid Subscriptions for Moto and Tuk drivers in the country. This includes a new ‘earn first, pay later’ model that gives drivers greater flexibility by allowing them to start earning on the platform without upfront payments. Drivers will continue to benefit from 0% commission on trips, allowing them to keep all of their earnings while paying a subscription fee separately.
With hybrid subscriptions, drivers can choose a model that works best for their driving patterns, making it easier for both full-time and part-time drivers to access trips and earn on Uber. The launch is aimed at improving the overall experience for drivers while continuing to offer reliable mobility for riders.
Flexibility and earning potential remain key priorities for drivers across Sri Lanka’s two- and three-wheeler ecosystem. The new model addresses this by giving drivers more control over how they engage with the platform and how they structure their earnings. By offering both time-based and earning-based subscription options, Uber provides drivers greater flexibility. While time-based subscriptions are ideal for full-time drivers, earning-based subscriptions work well for part-time drivers.
Commenting on the launch, Kaushalya Gunaratne, Country Manager – Mobility, Uber Sri Lanka, said, “”Drivers are at the heart of everything we do. We were among the first to introduce subscription models for Moto and Tuk drivers in Sri Lanka, and with hybrid subscriptions, we’re taking it further – giving drivers the benefits of zero commissions and the flexibility to choose what works best for them.”
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