Business
National Chamber of Exporters of Sri Lanka urges citizens to ‘vote wisely’ in September presidential election
As Sri Lanka stands on the cusp of a critical Presidential Election this September, the National Chamber of Exporters (NCE) calls upon all citizens to vote with both their hearts and minds. Our beloved nation is at a crossroads, and the decisions made at the ballot box will define the course of Sri Lanka’s future. It is vital that each voter considers the key challenges we face and elect leaders who possess the vision, capability, and integrity to steer us through these turbulent times.
Sri Lanka’s financial situation remains fragile, and we must not overlook the urgency of addressing it. In the coming years, we will begin the repayment of substantial international loans, a burden that could weigh heavily on the country if not handled wisely. Strengthening our foreign reserves is crucial, not just to meet these obligations but to provide a cushion for future economic stability. Voters must prioritize leaders who have clear plans for financial management, debt repayment strategies, and sustainable economic policies that can bolster our national reserves.
The state of the economy is another pressing concern. Years of economic uncertainty, rising inflation, and unemployment have left our economy vulnerable. It is clear that short-term, reactionary solutions will no longer suffice. We require a President who not only understands the complexities of the current economic landscape but is also prepared to implement long-term, strategic plans. Only through steady, well-thought-out leadership can we hope to stabilize the economy and ensure a prosperous future for all citizens.
Jayantha Karunaratne, President of the NCE, emphasized, “Strong leadership has never been more critical. The challenges facing Sri Lanka demand a leader with unwavering resolve, someone who can unite the nation in the face of adversity and make the difficult decisions required for recovery. This is not the time for indecision or political gamesmanship. We need a leader with the strength and clarity of vision to navigate through difficult waters and foster collaboration between all sectors of society.”
Equally important are solid, long-term policies that look beyond immediate challenges to address the root causes of our difficulties. Whether in financial management, education, infrastructure, or healthcare, it is essential that the next President focuses on creating sustainable frameworks that will benefit future generations. These policies must be carefully planned, inclusive of expert advice, and open to adaptation as the global and local economic landscapes evolve.
Respect for the Constitution is a cornerstone of any democratic society. Sri Lanka is no exception. Our future leader must be someone who respects the rule of law and operates within the boundaries of our Constitution. Governance should be transparent, with every action made in the best interests of the nation. A leader who upholds democratic principles, protects civil liberties, and ensures the fair application of justice will be essential in restoring trust in our political system.
We must also not forget the growing number of Sri Lankans who are struggling to meet basic needs. Economic instability has taken a heavy toll on the most vulnerable members of our society. Our next President should be someone with compassion, who genuinely cares about uplifting the underprivileged. Welfare programs, social support, and targeted assistance for those who are suffering must be part of any candidate’s platform. No one in Sri Lanka should be left behind as we work toward recovery.
A comprehensive economic revival is not only necessary but urgent. The next leader must have actionable plans that can be implemented swiftly to revive growth, attract foreign investment, and boost local industries. Economic recovery will be a long road, but with the right leadership, we can see the rebirth of a stronger, more resilient economy that offers opportunities for all citizens, regardless of their background or social standing.
Karunaratne further stressed the importance of the export sector: “Supporting the export sector is also of paramount importance. As a key driver of foreign exchange earnings and economic growth, exporters play a crucial role in the recovery of our economy. The next President must have clear and robust policies that enable exporters to thrive, ensuring they have access to the resources, support, and international market opportunities they need to succeed. The strength of Sri Lanka’s export industry is directly tied to the health of our economy, and a flourishing export sector will help the country regain its financial footing.”
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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