By Sanath Nanayakkare

As global attention has fixed on the high-level diplomatic choreography at the United Nations General Assembly in New York, a subtler, yet profound geopolitical signal was sent from Colombo, yesterday.

In a major address marking the founding anniversary of the People’s Republic of China, newly appointed Chinese Ambassador Wei Huaxiang chose to anchor bilateral relations not just in modern trade or infrastructure, but in a shared respect for Sri Lanka’s legacy of non-aligned independence.

By explicitly invoking Sri Lanka’s foundational role in the 1976 Non-Aligned Summit, Beijing was doing something unexpected in an era defined by fierce great-power rivalry: it was officially validating a small island nation’s right to maintain an independent foreign policy stance.

The Strategic Value of Independence

For decades, nations caught in the crosshairs of major-power competition have faced intense pressure to pick sides. Yet, Ambassador Wei’s embrace of Colombo’s non-aligned tradition signaled a different diplomatic playbook. Instead of demanding alignment, Beijing was framing its partnership as a reliable counterbalance to regional pressures. By honouring Sri Lanka’s diplomatic autonomy, China was effectively reassuring smaller economies that sovereign independence and robust economic cooperation can coexist.

Beyond Ports and Industrial Zones

This diplomatic framing reframed the narrative surrounding major collaborative ventures like the Colombo Port City and Hambantota Port. While foreign analysts often view these projects exclusively through the lens of strategic rivalry, Beijing’s diplomatic messaging tied them back to a historical ethos of solidarity—evoking memories of the 1952 Rubber-Rice Pact.

By marrying economic projects with a stated respect for non-alignment, China is positioning itself as a steadfast stakeholder that respects Sri Lanka’s internal agency during difficult economic and political seasons.

As both nations look toward major milestones in 2027—including the 70th anniversary of diplomatic ties—this nuanced diplomatic move revealed how historic traditions are being leveraged to navigate modern multipolar realities.

For global observers, the takeaway was clear: in the shifting architecture of Asian geopolitics, respecting a nation’s historical neutrality may just be the most effective way to secure a lasting partnership, a diplomatic masterclass that Ambassador Wei Huaxiang executed in style.

Sri Lanka Insurance Life (SLIC Life), the nation’s largest and strongest Life Insurer, is pleased to announce the appointment of Dr. Sameera Dharmasena as its new Chief Executive Officer, effective 22nd September 2026.

Dr. Dharmasena is a distinguished insurance professional with over 21 years of experience in the Sri Lankan insurance industry, having held senior leadership positions across several leading insurance companies affiliated with some of Sri Lanka’s largest business conglomerates. His extensive career spans both local and multinational insurance environments, bringing together broad industry expertise, strategic leadership and a strong commitment to the advancement of the insurance profession.

By Hiran H. Senewiratne

The CSE yesterday indicated mixed reactions as the oil price hike and other external and internal factors moved the All Share Price Index on a downward trajectory.

The All Share Price Index went down by 18.26 points, while the S and P SL20 declined by 1.19 points.

Turnover stood at Rs 1.3 billion with five crossings. Those crossings were: Pickme crossed 500,000 shares to the tune of Rs 77.5 million; its shares traded at Rs 155, Lanka IOC 542,000 shares crossed for Rs 70 million; its shares traded at Rs 130, Access Engineering 800,000 shares crossed to the tune of Rs 64 million; its shares traded at Rs 80, Dipped Products 1 million shares crossed to the tune of Rs 63 million; its shares sold at Rs 52 and Sampath Bank 450,000 shares crossed for Rs 63 million; its shares sold at Rs 140.

In the retail market companies that mainly contributed to the turnover were; Pickme Rs 134 million (854,000 shares traded), Cal Found Rs 110 million (8.5 million shares traded), Dipped Products Rs 109 million (1.8 million shares traded), Access Engineering Rs 80 (999,000 shares traded), Kotagala Plantations Rs 50 million (6.2 million shares traded), JKH Rs 44 million (2.3 million shares traded) and Sampath Bank Rs 28 million (199,000 shares traded). During the day 46 million share volumes changed hands in 10696 transactions.

It is said that transport sector related counters, especially Pickme, led the market. Further manufacturing sector counters, especially JKH and Dipped Products, also performed well. Banking sector counters, especially Sampath Bank, performed significantly.

Meanwhile, People’s Leasing & Finance announced that its debenture issue to raise up to Rs 10 billion was oversubscribed after receiving applications exceeding Rs 10 billion , closing the issue on September 23.

Colombo Dockyard disclosed share dealings by director-related entity Senthilverl Holdings, which purchased and sold 17,086 shares at Rs 119 and Rs 122 each, on September 22.

Yesterday the rupee was quoted at Rs 330.00/80 to the US dollar in the spot market from Rs 329.50/75 the previous day, while bond yields edged up slightly, dealers said.