Business
Nalanda Innovation Hub to catalyse entrepreneurship and sustainability in Ratnapura
The vibrant city of Ratnapura, renowned as the “City of Gems,” welcomes a new era of innovation and entrepreneurship with the grand opening of the Nalanda Innovation Hub on March 26, 2024. Nestled in the heart of Ratnapura, this hub is poised to become the nucleus of collaboration, creativity, and sustainable business practices in the region.
Founded by Visaka Ellawala, the Nalanda Innovation Hub pays homage to the late Member of Parliament Nalanda Ellawala, whose enduring legacy of public service and community development serves as an inspiration to the community. Speaking at the inauguration, Visaka Ellawala emphasized the hub’s mission to unlock the entrepreneurial spirit of Ratnapura and drive sustainable development in the gem-rich region.
“We believe that by providing a platform for collaboration and innovation, we can unlock the entrepreneurial spirit of Ratnapura and drive sustainable development in the gem-rich region,” remarked Visaka Ellawala, Founder of Nalanda Innovation Hub.
The hub’s cutting-edge facilities, including meeting rooms, an open theatre, and coffee shops, provide a conducive environment for entrepreneurs and changemakers to converge, exchange ideas, and bring innovative projects to fruition.
Partnering with esteemed organizations like Good Market and TRACE, the Nalanda Innovation Hub reinforces its commitment to fostering inclusive entrepreneurship and sustainable practices in Ratnapura.
“We are thrilled to extend the Good Market experience to Ratnapura through our collaboration with the Nalanda Innovation Hub. By empowering local entrepreneurs and promoting sustainable practices, we aim to create positive impact and foster inclusive economic growth in the gem-rich region,” stated Achala Samaradivakara, Co-founder of Good Market.
Similarly, TRACE (Technologically Re-Awakening Culture of Excellence) aligns with the Nalanda Innovation Hub to promote excellence through technology and innovation. With a focus on mentorship, guidance, and fostering innovation among youth, TRACE seeks to propel Ratnapura onto the global stage and contribute to its holistic development.
Business
Ceylinco Life agent among three global finalists for award
Ceylinco Life’s Ambalantota branch agent AIP Manjula has been named one of three global finalists for the prestigious Insurance Agent of the Year award at the 11th Asia Trusted Life Agents & Advisers Awards (ATLAA) 2026.
The recognition places a Sri Lankan insurance professional among the finalists in a regional field spanning South Asia, Southeast Asia, East Asia and the wider Asia-Pacific region.
Ceylinco Life said the achievement reflected the calibre and customer-focused approach of its agency force, while recognising Manjula’s professionalism and commitment to policyholders.
The award evaluates insurance agents on criteria extending beyond sales performance, including ethical conduct, client service, policy persistency, digital adoption, innovative practices and contributions to the insurance industry and community.
The awards are organised by Asia Advisers Network and Asia Insurance Review, with LIMRA as co-organiser. An independent judging and balloting process is monitored by KPMG as the official scrutineer. The judging panel comprises senior insurance executives, association presidents and industry experts from across the Asia-Pacific region.
Business
CEAT Kelani retains AA+ rating for sixth year
CEAT Kelani Holdings (CKH) has retained its National Long-Term Rating of ‘AA+(lka)’ with a Stable Outlook from Fitch Ratings for the sixth consecutive year, reflecting the company’s financial resilience and leading position in Sri Lanka’s pneumatic tyre market.
The ‘AA+(lka)’ rating, the second-highest on Fitch’s national scale, indicates a very strong capacity to meet financial commitments.
Fitch said CKH’s established market leadership and resilient financial profile remained key strengths, while noting its exposure to price-sensitive, cyclical and highly competitive markets.
The Stable Outlook reflects expectations that the company will maintain its market position despite rising input costs and increasing competition from imported tyres, while preserving adequate credit metrics during periods of weaker earnings and higher investment.
Fitch expects CKH’s established brand, extensive dealer network and adaptive pricing strategies to support its market position. Planned production facility upgrades are also expected to improve product quality, particularly in the radial tyre segment.
The rating agency expects near-term pressure on margins from higher raw material and energy costs but said the company’s low leverage and sound liquidity would provide a cushion.
CKH Chairman Chanaka De Silva said the rating reinforced the company’s focus on disciplined financial management, operational adaptability and long-term investment.
Business
Rivon Agriglobe introduces ZETOR tractors, Rover e-bikes
Rivon Agriglobe and Rivon Lanka, affiliated with Celogen Lanka, Assidua Technologies and Kelun Lifesciences, have introduced ZETOR and Agriglobe tractors, the Z-Tukoba power tiller and Rover electric motorcycles to the Sri Lankan market.
The new range was launched at a special event held on September 4 at the Sannasa Hotel in Dambulla, attended by more than 120 dealers from across the country.
The event was graced by Nalin Welgama as Chief Guest, together with Rishi Kumar, Managing Director; WH Roshan, Finance Director; Sadish Kumar, Director; Sumith Nandana, General Manager; Suresh Dhammika, Head of Sales; and Jayasuriya, Operations Manager.
The agricultural machinery range includes the 50-horsepower ZETOR HORTUS 50 and Agriglobe 50 tractors and the Z-Tukoba power tiller, offering what the company described as European-engineered technology for Sri Lankan farmers.
The launch also featured the recognition of Rover E-Bike dealers, highlighting the company’s efforts to expand its island-wide dealer network and promote electric mobility.
The companies said the new models would be available through their growing dealer network across Sri Lanka, providing customers with access to agricultural machinery and electric motorcycles.
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