Business
NCE warns of ‘increasing chaos and mass protests’
‘A lethal combination of divisive politics, disastrous economic policies and persecution of minorities has destroyed the country’s image as a South Asian success story. In this context, the country cannot simply afford yet another cataclysm. Whilst the political instability, inflation, fuel prices and shortage of food supplies continue to drastically affect average citizens, a more likely scenario is increasing chaos and mass protests by the general public, the National Chamber of Exporters of Sri Lanka says in a press release.
Extracts of the release: ‘Already the negative image created though all social media platforms has a negative effect on Sri Lanka which in turn affects all international relationships. It is reported that many international buyers have moved to other suppliers in the region due to loss of confidence. This will have detrimental effects on Sri Lanka’s export industry if corrective action is not taken faster to restore country’s political and economic stability. Moreover, it is now also a daunting task to obtain bank facilities, further disturbing country’s trading activities.
‘In this context, the National Chamber of Exporters of Sri Lanka (NCE) makes a special appeal to the government to take prompt action in reconciling all affected areas of the country. The IMF has detailed measures to help Sri Lanka restore macroeconomic stability and debt sustainability whilst safeguarding financial stability. In this context, eradicating corruption by political, state and other parties are also mandatory to unlock Sri Lanka’s growth potential. Also, establishing stronger and strategic relationships with fellow countries will definitely support Sri Lanka in its path to recovery.
‘The multibillion dollar loans may have stabilized the nation from the depths of its crisis, yet a lack of reforms and further economic hardships could send protesters back to the streets. Hence, the Chamber insists government to take a serious look at the soaring Cost of Living. According to UNICEF, Sri Lanka has the highest acute malnutrition, where almost 17% of under 05 years are suffering from deceases that carries the highest risk of death. This has taken Sri Lanka to the top 10 countries of malnourished children, which is a grave concern.
‘Sri Lankan consumers are sinking with over 50% of the households cannot afford to purchase essential food items. The quality of life of an average Sri Lankan is fast declining. According to a latest report released by the University of Peradeniya, a 42% Sri Lankan households are in poverty, to be specific 9.6 million of our people. To make things worse, tax payers will be further subjected to a 36% of taxation from November onwards as announced by the Department of Inland Revenue. The effects will definitely be catastrophic.
‘Considering the fact that any government to be given a considerable period of time to bring back a fraught economy to normalcy, while ruling parties must work out immediate solutions to address the most perilous issues at hand.
‘The time is right to implement robust economic drives, including implement mass agriculture to ensure food safety, control corruption, establish political stability and importantly to sign up Free Trade Agreements with countries like Singapore, Malaysia and China and penetrate on the existing FTAs with India and Pakistan for improved bi-lateral relationships and harness support from neighboring countries. As IMF has very clearly pointed out, we have to focus on stringent implementation of clear policies and work tirelessly with one vision to bring Sri Lanka back to its glory.
‘Exports are vital, as it is the only sector currently bringing the much needed foreign currency to the country, without which the country will further plummet economically. Hence supporting to run and sustain exports is mandatory. Export Value Chain has to be continued, supporting all stakeholder organizations to provide an uninterrupted service to exporters, continued riots will disrupt these services, paralyzing exports which will have mortal circumstances.
‘The NCE, urges the president and the cabinet to bring solutions immediately which is the need of the hour, regardless who remain in power.’
‘The NCE is committed to support the authorities to engender change in rebuilding our economy through exports.’
Business
Ambeon Securities hosts exclusive investor forum on Sri Lanka’s economic and market outlook
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
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
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.
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