Business

Iranian warship saga: Weerawansa points finger at India, raises questions over U.S. role

Published

4 months ago

2026/03/9

A fierce political storm erupted in Colombo on Saturday after former minister and National Freedom Front leader Wimal Weerawansa accused India of drawing Sri Lanka into the unfolding crisis involving Iranian naval vessels in the Indian Ocean.

Speaking to the media on March 7, Weerawansa claimed that the attack on the Iranian naval vessel IRIS Dena had taken place with the knowledge of India’s external intelligence agency, the Research and Analysis Wing (RAW), raising questions about how the visiting Iranian ships were allowed to sail into danger after participating in India’s recent fleet review.

“We all know how agile India’s RAW intelligence is,” Weerawansa said. “It warned Sri Lanka about the Easter Sunday attacks two days in advance. So how could it not know that Iranian ships invited by India were going to be attacked?”

The Iranian vessels had travelled to India at New Delhi’s invitation to take part in the international fleet review. However, he alleged that after the event concluded the ships were allowed to depart despite what he suggested may have been prior knowledge of an impending U.S. naval strike.

“Morally speaking, the first fault lies with India,” he said. “It was India that got Sri Lanka embroiled in this Iranian ship issue. India shouldn’t be trusted for five cents”, he said.

The attack on IRIS Dena has since triggered a chain of developments that placed Sri Lanka unexpectedly at the centre of a rapidly widening geopolitical confrontation.

Following the incident at sea, Sri Lanka evacuated more than 200 crew members from a second Iranian naval vessel, IRIS Bushehr, which had sought assistance while anchored near Colombo. The rescued sailors were brought ashore for humanitarian assistance before the vessel was escorted towards Trincomalee.

Iran’s Foreign Minister later thanked Sri Lanka for the rescue operation.

Now, Washington has urged Sri Lankan authorities to limit the possibility of Iran using the rescued sailors for propaganda purposes while urging Sri Lanka to not execute the repatriation of the Iranian crew.

Weerawansa alleged that the episode revealed how Sri Lanka was being pulled into the strategic calculations of larger powers.

“When the second Iranian ship first sought permission to enter Sri Lankan waters, our authorities consulted the U.S. Embassy in Colombo,” he said. “They were told that if the vessel entered Sri Lanka, it could face an air attack.”

According to his account, Sri Lanka initially informed Iranian diplomatic representatives that the ship could not be allowed to dock.

Weerawansa claimed that the decision was later reconsidered following appeals made through political intermediaries and subsequent discussions between Sri Lankan authorities and the U.S. Embassy.

“But now we see a ‘no repatriation’ stance emerging from Washington,” he said. “Why? Because the United States is looking for a way to become a direct stakeholder in this conflict from Sri Lankan territory.”

He further argued that the crisis had exposed the risks associated with Sri Lanka’s undisclosed defence arrangements with India.

Sri Lanka had recently signed a defence cooperation agreement with India, though its contents have not yet been presented to parliament.

“The country does not know what is in that agreement,” Weerawansa said. “The Foreign Minister himself said it cannot be shown without India’s permission.”

He also noted India’s strategic alignment with the United States through defence agreements and its participation in the Quadrilateral Security Dialogue (QUAD), arguing that Sri Lanka could inadvertently become entangled in those broader alliances.

“In such a backdrop Sri Lanka has now landed in a Catch-22 situation,” he said.

The controversy gained further attention on the international stage during the Raisina Dialogue in New Delhi on March 7, where India’s External Affairs Minister Dr. S. Jaishankar was questioned about whether the sinking of a visiting warship during a U.S.-Iran confrontation undermined India’s claim to be a “net security provider” in the region.

Jaishankar dismissed the question as “non-serious,” saying he would respond only to queries that took the “ground situation” into account.

With shipping lanes under threat and military operations intensifying, analysts say smaller states situated along critical maritime routes are increasingly being forced to deal with the competing strategic interests of major powers.

For Sri Lanka, the rescue of the Iranian sailors may have been a humanitarian gesture.

But according to Weerawansa, the episode could be only the beginning of a much larger geopolitical drama.

“Don’t rush to say this was handled in a statesman-like manner,” he warned. “What we are seeing may only be the interlude. The next episode may still be ahead,” Weerawansa warned.

According to a Hiru TV news report yesterday, the channel contacted the US State Department. In response, the State Department’s media office has stated that, under the circumstances, the US respects Sri Lanka’s sovereignty. It also has noted that it expects Sri Lanka to act in accordance with international laws while ensuring security, following its acceptance of the Iranian sailors from the IRIS Bushehr.

By Sanath Nanayakkare

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Business

Ambeon Securities hosts exclusive investor forum on Sri Lanka’s economic and market outlook

Published

9 hours ago

2026/07/17

Thilina Walpola

The event was organized with the objective of providing investors with valuable insights to make better-informed investment decisions while further strengthening the firm's engagement with its growing client base.

Ambeon Securities recently hosted an exclusive investor forum, bringing together clients, investors, business leaders, and market professionals for an insightful discussion on Sri Lanka’s economic outlook and investment opportunities amidst a challenging global landscape.

The event was organized with the objective of providing investors with valuable insights to make better-informed investment decisions while further strengthening the firm’s engagement with its growing client base.

The forum featured Baqar Zaidi, Director and Chief Economist for Sri Lanka and India at Citi Research, as the keynote speaker. Sharing his perspectives on the evolving global macroeconomic environment, Mr. Zaidi discussed key themes influencing emerging and frontier markets, Sri Lanka’s economic trajectory, and the opportunities lie ahead.

The keynote address was followed by an engaging panel discussion comprising Baqar Zaidi, Aravinda De Silva, respected investor, entrepreneur, and the Chairman of Arcasia Holdings. Hasitha Premaratne, Group Managing Director of Brandix and Asanka Herath, Chief Executive Officer – Unit Trusts and Head of Equities at LYNEAR Wealth Management.

Moderated by Imran Furkan, the panel explored a range of topics including Sri Lanka’s macroeconomic outlook, the future of the Colombo Stock Exchange, sectoral opportunities, capital allocation strategies, investor confidence, and the role of policy reforms in attracting investment and supporting long-term growth.

Speaking at the event, Charith Kamaladasa, Chief Executive Officer of Ambeon Securities, reaffirmed the company’s commitment to facilitate quality insights, informed perspectives, and meaningful dialogue to support their clients while building lasting relationships with them. He noted that in an environment where uncertainty has become the new normal, equipping investors with timely information and expert perspectives is essential for successful wealth creation.

The event was well attended by a distinguished gathering of institutional investors, high-net-worth investors, and business leaders. Among those present were members of the Ambeon Group Board, including Group Chairman Sujeewa Mudalige, Group CEO Dr. Sajeeva Narangoda, and Chairman of Ambeon Securities Mangala Boyagoda. Their presence, together with the participation of Ambeon Group shareholders and valued clients, enriched the discussions and contributed to a vibrant networking session, fostering meaningful dialogue and stronger connections within the investment community.

Through initiatives such as this, Ambeon Securities continues to reinforce its commitment to helping clients navigate evolving market conditions, make informed investment decisions, and achieve their long-term financial goals.

Business

Tata Group leads humanitarian education support initiative with DIMO and ChildFund

Published

9 hours ago

2026/07/17

Thilina Walpola

The Tata Group, in partnership with ChildFund and DIMO, has successfully implemented a humanitarian education support initiative for disaster-affected schoolchildren in Sri Lanka, reaffirming its commitment to helping communities recover from the impacts of Cyclone Ditwah and the subsequent floods.

Following a formal request for support from Sri Lanka, an on-ground assessment was conducted in December 2025. Recognizing the urgent need, several Tata companies joined forces to implement the response program.

As part of this initiative, the ‘Hope in a Backpack’ programme, which provides disaster-affected children with essential educational supplies, was launched by the Tata Group at Taj Samudra, Colombo, in the presence of the Chief Guest, Hon. Prime Minister Dr. Harini Amarasuriya; the Guest of Honour, Hon. Indian High Commissioner Santhosh Jha; Ranjith Pandithage, Chairman of DIMO; Chacko Thomas, Group Chief Sustainability Officer, Tata Sons; and Aditi Ghosh, Country Director, ChildFund.

This initiative is part of DIMO’s Social and Community Pillar, under the project theme ‘Lassana Hetak,’ which focuses on giving the future generation a helping hand towards a better future.

This collective effort was further strengthened by volunteers from Tata and DIMO, who actively mobilized on the ground to pack, distribute, and support affected communities. During the proceedings, specially invited schoolchildren received the backpacks with essential supplies as well.

Commenting on the partnership, Ranjith Pandithage, Chairman of DIMO, said: “DIMO is proud to collaborate on this meaningful initiative alongside the Tata Group and ChildFund as the local implementation and logistics partner. Our relationship with Tata spans more than six decades and has been built on a shared commitment to ethical business practices, trust, and creating lasting value for the communities we serve. These values have shaped our partnership over the years, extending beyond business to initiatives that make a meaningful difference in people’s lives.”

Business

NovaNest Properties launches Rainbow Apartments in Ratmalana

Published

9 hours ago

2026/07/17

Thilina Walpola

Samitha Waidyasekera CEO - NovaNest Properties (Pvt) Ltd

NovaNest Properties (Pvt) Ltd has officially launched Rainbow Apartments, a new residential development in Ratmalana. The announcement was made at an official launch event held at the Shangri-La Hotel, Colombo, marking the company’s latest addition to Sri Lanka’s growing apartment market.

The development is designed to cater to homebuyers seeking modern urban living, as well as investors looking for long-term value. Rainbow Apartments is located in Ratmalana, an area of increasing residential interest, and benefits from the suburb’s established social infrastructure, proximity to major transportation links, and accessibility to Colombo.

The project reflects NovaNest Properties’ commitment to delivering quality residential developments that combine contemporary design with practical living. Intended to satisfy the evolving lifestyle demands of today’s homeowners, Rainbow Apartments features thoughtfully designed living spaces supported by modern amenities. These include two infinity pools, a gym, fully functional workspaces, a mini theatre, stylish cafés, a mini-mart, and a children’s daycare. Additionally, it features a full time medical centre backed by Nawaloka Hospitals PLC Colombo, with a 24-hour ambulance service.

Commenting on the launch, the Chief Executive Officer of NovaNest Properties (Pvt) Ltd, Samitha Waidyasekera, said, “Today’s buyers are looking beyond square footage. In addition to providing long-term value, they want homes that are close to the places where they work, learn, and spend their time. With that shift in mind, Rainbow Apartments was created to bring together a strategic location, thoughtful design, and quality construction in a way that will continue to meet buyers’ needs for years to come. Through our promise of ‘Luxury Beyond Expectations,’ we are committed to delivering an elevated lifestyle experience that combines comfort, convenience, and modern living.