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Indian External Affairs Minister gives catchy and timeless slogan for Sri Lanka Tourism

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From left: Sri Lankan High Commissioner in India, Milinda Moragoda, Indian External Affairs Minister Dr. S. Jaishankar and Sanjay Kulatunga, Trustee, Geoffrey Bawa Trust, at the launch of Geoffrey Bawa: It's Essential to be There – Exhibition at the National Gallery of Modern Art, New Delhi, on 17th March 2023

* ‘There are two kinds of people in the world; those who have been to Sri Lanka and those who will be going to Sri Lanka’

* ‘Sri Lanka is a salient element of our neighborhood first policy’

* ‘Blood is thicker than water in our diplomatic bonding’

* ‘It is important to have SL’s real friends standing by it at this crucial time’

by Sanath Nanayakkare

Indian External Affairs Minister (EAM) Dr. S. Jaishankar on 17th March 2023 said in New Delhi something memorable about Sri Lanka that would help make a catchy travel slogan to exponentially boost Sri Lanka Tourism if it is effectively used by Sri Lankan tourism authorities.

The Indian diplomat and politician who joined the Indian Foreign Service in 1977 and during his diplomatic career served in different capacities in India and abroad made this remark while addressing a high-profile international audience at the National Gallery of Modern Art, New Delhi where more than 100 foreign diplomats were present to witness the launch of Geoffrey Bawa Exhibition.

Dr. Jaishankar told the audience that he was delighted to be at the opening of the exhibition which showcased the work of the renowned architect Geoffrey Bawa coinciding with the 75th Anniversary of Indo-Lanka diplomatic relations.

“Now there are two kinds of people in the world; those who have been to Sri Lanka and those who will be going to Sri Lanka. I fortunately belong to the first category as someone who has had an association with this country for more than 30 years. When I think of Sri Lanka, the names, the images, the associations, Geoffrey Bawa very naturally comes to my mind. I am very happy that this exhibition is being organized as part of the commemoration of the 75th Anniversary of India- Sri Lanka diplomatic relations. And when the Sri Lankan High Commissioner in India, Milinda Moragoda mentioned to me that this event would be taking place today, I told him that even though parliament would be in session, I was sure many of us would find the time to be there given the importance of this exhibition. As for Geoffrey Bawa, most of us here need no introduction.

He was the father of the tropical modernist movement. Generally, foreign diplomats visiting Sri Lanka get the opportunity to go and visit the parliament building in that country. [The Sri Lankan parliament building remains the work that architect Geoffrey Bawa is best known for designing] And what you see is something which is very revolutionary and of a style and the manner which actually inspires many other parts of the world. And today I’d say Geoffrey Bawa’s achievements are not just in Sri Lanka, and not just what he has done in India. Many others whom he had inspired have paid tribute to him for the iconic role he played. I am very confident that this exhibition will promote the already very close bonding between our two countries. Even though our two countries are linked through the societies over the millennia in a variety of ways in our languages, in our way of life and in our modes of customs, I believe that exhibitions of this nature which promote more contemporary understanding of the societies and appreciation of the legendary figures in our countries is something that is particularly important,” he said.

“High Commissioner Milinda Moragoda during his speech mentioned some of the challenges Sri Lanka has had to encounter. And I can only say that it is very natural for India to step forward during this time. In fact, Sanjay Kulatunga, Trustee, Geoffrey Bawa Trust and I were talking and I reminded him of the saying that blood is thicker than water. For us, it was natural at the moment of difficulty that we should see what we could do within our resources, capabilities and efforts to stand by Sri Lanka at this very difficult time,” EAM said.

“I have always believed and have said so in Colombo and on other occasions that Sri Lanka would come through this challenge. But it is important to have your real friends standing by you at this time. And I am also pleased to see that in recent years even as our cooperation has expanded, we have given a note of attention to the cultural facets of our relationship. This is visible in the grants that we have given to promote the Buddhist ties and towards the restoration of temples, for the construction of the Jaffna Cultural Centre and in the many exchanges that we promote between our two countries. Our Culture is one expression of people-to-people exchanges. And today we are advancing many others including flights between Chennai and Jaffna which have resumed. We are now looking at more seamless travel in other forms between South India and Sri Lanka. For us, Sri Lanka is a very integral element, a salient element of our Neighborhood First Policy and of our SAGAR (Security and Growth for All in the Region) policy, and Sri Lanka is very much part of our shared heritage and history,” EAM said concluding his remarks about Sri Lanka.

Six Sri Lankan journalists visiting New Delhi had the opportunity to listen to Dr. Jaishankar on Indian soil whilst on a study tour of modern infrastructure in India from March 13-19. The tour was sponsored by StratNewsGlobal.com and BharatShakti.in at the request of the Sri Lankan High Commission in India.



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Wealth Trust Securities to raise Rs. 500.8 million via IPO

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Left to right: Timothy Speldewinde, Independent Non-Executive Director; Anarkali Moonesinghe, Non-Independent Non-Executive Director; Priyanthi Abeyesekere, Deputy CEO; Senaka Weerasooria, chairman (Non-Independent Non-Executive Director); Romesh Gomez, Managing Director/CEO (Non- Independent Executive Director); Tarusha Weerasooria, Non-Independent Non- Executive Director; Shanti Gnanapragasam, Independent Non-Executive Director; and Tivanka Perera, Vice President – Asia Securities Advisors (Pvt) Ltd.

The recent announcement of Wealth Trust Securities Ltd.’s Rs. 500.8 million Initial Public Offering -IPO- comes at a moment when Sri Lanka’s interest-rate environment is gradually easing, allowing well-capitalised primary dealers to expand their trading portfolios and secure long-term positions in government securities.

Company chairman Senaka Weerasooria told journalists in Colombo that the IPO is not merely a capital-raising exercise, but a reinforcement of the disciplined structure that has defined the company since its inception.

He noted that WTS enters the public market with what is already one of the most robust capital bases in the industry, and with “absolute confidence that investors are joining a journey that has consistently returned value.”

Weerasooria said the capital infusion will further solidify WTS’s ability to absorb volatility, particularly amid cyclical movements in Treasury yields.

Despite maintaining a conservative trading outlook, the company has managed to average a 31% ROE over the past twelve years — a figure management repeatedly highlighted as evidence of resilience across both tightening and loosening rate cycles.

Managing Director and CEO Romesh Gomez said that in recent months the direction of policy rates and market liquidity has begun shifting favourably, creating clear value-accretion opportunities for disciplined portfolio expansion. With additional capital, he noted, WTS has greater room to capture advantageous auction positions, broaden secondary market activity and align its investment scale to emerging market windows.

Gomez acknowledged that FY25 reflected compressed performance due to systemic realignment, with revenue at Rs. 4.6 billion and PAT at Rs. 1.2 billion. However, he pointed out that profit sustainability, even through a difficult cycle, speaks to strong operational controls. The A- rating with a Positive outlook continues to stand, reinforcing the company’s position as a stable counterparty in a specialised sector.

Asia Securities Advisors, managing the IPO, pointed out that the offer price of Rs. 7 presents meaningful upside when benchmarked against underlying valuation metrics. The move into the listed environment, they noted, enhances governance visibility — a point increasingly valued among institutional investors participating in the Government securities market.

By Ifham Nizam

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BoardPAC achieves Carbon Neutral Certification for the fourth consecutive year

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BoardPAC, the global leader in digital board meeting automation, has secured the Carbon Neutral Certification for 2024, marking the fourth consecutive year the company has achieved this milestone. The certification, awarded by the Sri Lanka Climate Fund (SLCF) under the Ministry of Environment in October 2025, underscores BoardPAC’s commitment to environmental sustainability and responsible corporate governance.

BoardPAC’s operations, spanning over 40 countries, were assessed against the ISO 14064 – 1:2018 standard, and the company’s organization-level Greenhouse Gas (GHG) emissions were successfully offset, reflecting its ongoing commitment to reducing its environmental impact.

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Uber marks 10 years in Sri Lanka: Moving People, Powering Livelihoods, Impacting Communities

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Uber today marked ten years of operations in Sri Lanka, a decade in which the platform has reshaped how people commute, and how thousands of Sri Lankans earn a livelihood. Over the past decade, ride-hailing has become one of the most transformative shifts in Sri Lanka’s urban mobility landscape, providing safe, reliable and affordable transport at scale.

Chathuranga Abeysinghe, Deputy Minister for Entrepreneurship, Ministry of Industries and Entrepreneurship Development, Government of Sri Lanka, graced the milestone event as the Chief Guest. U.S. Ambassador Julie Chung attended as the Guest of Honor, joined by Akanksha Singh, Head – South Asia Markets, Uber, and Kaushalya Gunaratne, Country Manager – Mobility, Uber Sri Lanka.

As per the 2024 Sri Lanka Economic Impact Report, compiled by global policy research firm – Public First, Uber and Uber Eats together generated over LKR 160 billion in economic activity in Sri Lanka within a single year. Since its entry in Sri Lanka in 2015, Uber rides have covered over 1.15 billion kilometers – equivalent to nearly 3000 trips from Earth to the moon! Over 320,000 Sri Lankans have earned through the platform as drivers.

Uber has also supported the tourism ecosystem, enabling more than 700,000 airport trips, connecting visitors seamlessly to their destinations. Over the last year, we’ve further intensified our service in the Western and Central provinces and expanded our offerings in the Southern and Northern provinces – bringing its services closer to more communities across the country. Uber has emerged as one of the most preferred ride-hailing platforms across the island, offering affordable, reliable, and safer rides at different price points.

Deputy Minister for Entrepreneurship, Ministry of Industries and Entrepreneurship Development, Government of Sri Lanka, Chathuranga Abeysinghe, said, “Over the past decade, Uber has become part of the fabric of daily life in Sri Lanka – not only by helping people get where they need to go, but by enabling thousands to earn an income with dignity and flexibility.

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