Business
Political VIPs notably absent at Japanese FDI project launch
by Sanath Nanayakkare
There was notable absence of political heavyweights at the launch of a major foreign direct investment (FDI) hotel project in Colombo last week, arguably reflecting declining appeal of politicians.
Without the participation of any Sri Lankan political VIPs to cut the ribbon or make the keynote speech, the Granbell Hotel Colombo – a USD 60 million worth Japanese hotel in the heart of Colombo, opened its doors warmly welcoming all to experience a fusion of Japanese and Sri Lankan hospitality.
Granbell is the sister property of Le Grand Galle, inaugurated in August 2018 by Asia Leisure and with Belluna Co. Ltd, Japan.
The grandeur of the occasion was celebrated by none other than Mizukoshi Hideaki – the Japanese Ambassador to Sri Lanka who was the chief guest for the occasion.
Having announced that the launch of the hotel was in line with the long-standing friendship between Sri Lanka and Japan which dates back over 70 years, the Japanese Ambassador together with several Japanese invitees including, Kiyoshi Yasuno – the President of Belluna Co. Ltd and Ryo Takarada, Chief Architect of Granbell Colombo inaugurated the hotel.
The Granbell Hotel Colombo is owned and managed by the leading Japanese company Belluna Co. Ltd, a listed company in the Tokyo Stock exchange. It adds to a growing portfolio of properties around the world owned and managed by Belluna.Co.Ltd. The hotel chain includes 17 properties in Japan, one in Hawaii, one in the Maldives and two in Sri Lanka.
The project commenced in 2016 with a foreign direct investment of USD 60 million. The construction was carried out by the Hazama Ando Corporation of Japan and was completed in line with the highest construction standards, combining Japanese architecture and Sri Lankan craftsmanship.
Today, the hotel provides a large number of employment opportunities for the local community further strengthening the economic revival of the nation.
The Granbell is located in proximity to the Colpetty Railway Station in the heart of Colombo and provides a host of exciting facilities and services.
While the Heads of Departments and staff being Sri Lankan, the hotel also brings forth Japanese expertise with its general manager and the head chef to offer an authentic combination of the two cultures.
Opposition MP Patali Champika Ranawaka speaking in parliament two days after the opening of the Granbell Hotel said,” Some people ask why Sri Lanka isn’t convening an international aid forum to obtain the support of friendly countries to come out of the current economic crisis. Such an international aid forum can’t be convened because the international community has no confidence in the government of Sri Lanka. Friendly nations are not helping us any more. Japan, which helped Sri Lanka from time immemorial without any strings attached, had their mega projects in Sri Lanka cancelled by one single stroke of the pen overnight. If we had the $1.5 billion Japanese-funded light rail project, JICA funded project for laying 220 kilovolt underground cable from Kerawalapitiya to the Colombo Port and ADB’s railway project from Maradana to Homagama, we would have had FDIs worth USD 2 billion flowing into the country annually over a few years. Japan, our ‘biggest’ post-independence friend who had no political interest in helping us, was dropped by the government without any courtesy. In such a context, today no country is stepping forward to host an international aid forum to help Sri Lanka.”
Former prime minister Ranil Wickramasinghe said recently that he raised the matter of the Japanese light rail project with President Gotabaya Rajapaksa and that the government has begun to review it in a more favourable manner.
By Ifham Nizam
In a landmark move towards a sustainable energy future, Sri Lanka launched the Green Energy Acceleration Plan 2025-2030 at the Cinnamon Life Hotel in Colombo. The five-year initiative, spearheaded by the Ministry of Energy, aims to transform the nation into a renewable energy powerhouse through strategic investments in solar, wind and hydropower.
The event, held under the patronage of Prime Minister Dr. Harini Amarasuriya, brought together key stakeholders, including Energy Minister Kumara Jayakody, Deputy Ministers Eranga Weeraratne and Janith Ruwan Kodithuwakku, Secretary to the Ministry of Energy Professor Udayanga Hemapala and CEB chairman Dr. Tilak Siyabalapitiya.
Addressing the gathering, Prime Minister Dr. Amarasuriya emphasized that the initiative is not merely a policy document but a transformative roadmap for Sri Lanka’s energy sector.
“We are not just here to launch this project; we are here to transform our country into an energy powerhouse for the future. The Green Energy Acceleration Plan will expand renewable energy production and provide affordable electricity to all Sri Lankans, she stated.
The plan prioritizes reducing electricity demand, lowering costs and modernizing the energy sector through digital innovations and advanced energy storage technologies. A key aspect of the initiative is reforming energy regulations to promote efficiency and sustainability.
The government has outlined three critical focus areas for the energy sector overhaul:
Affordable & Reliable Renewable Energy – Expanding solar, wind and hydropower while minimizing carbon emissions.
Public Awareness & Digital Transformation – Educating citizens on the importance of renewable energy and modern technologies.
Advanced Energy Conversion Methods – Modernizing the sector with innovative energy solutions aligned with global advancement.
The Prime Minister stressed the importance of local and international partnerships to successfully implement the plan. She urged all stakeholders—including policymakers, investors and industry experts—to collaborate in achieving energy security and economic resilience.
With the Green Energy Acceleration Plan 2025-2030, Sri Lanka takes a decisive step towards energy independence, reducing reliance on fossil fuels and positioning itself as a regional leader in clean energy innovation.
This ambitious initiative marks a turning point in Sri Lanka’s energy landscape, setting the stage for a greener, more sustainable future for all.
President Donald Trump is moving forward with 25% tariffs on goods imported from Canada and Mexico into the US, saying that time had run out to reach a deal.
US stock markets sank in response to the measures, which have been threatened since earlier this year and are due to go into effect on Tuesday.
An additional 10% tariff on Chinese imports is also expected to come into force, leaving all three of America’s top three trade partners facing significantly higher trade barriers than just a few weeks ago.
“No room left for Mexico or for Canada,” Trump said at the White House on Monday. “The tariffs, you know, they’re all set. They go into effect tomorrow.”
Trump threatened to impose the tariffs – which is a tax that is added to a product when it enters a country – on Canada, Mexico and China in response to what he says is the unacceptable flow of illegal drugs and undocumented migrants into the US.
He had already imposed a 10% tariff on Chinese exports to the US last month, meaning goods from the country now face a levy of at least 20%.
All three countries have said they will retaliate against the US in response to the tariffs, raising the prospect of a widening trade war.
Canada’s Foreign Minister Melanie Joly said the tariffs are “an existential threat to us” with “thousands of jobs in Canada at stake”.
She said Canadian officials have had “constructive conversations” with the Trump administration to try to avert the 25% levies but warned “we are ready with counter tariffs”.
Trump has long maintained that tariffs are a useful tool to correct trade imbalances and protect US manufacturing.
He has largely dismissed concerns that the measures risk economic damage in the US, despite the close ties, especially in North America, where businesses have enjoyed decades of free trade.
“What they’ll have to do is build their car plants, frankly, and other things, in the United States, in which case they have no tariffs,” he added.
The three major indexes in the US sank after Trump’s comments. The Dow Jones Industrial Average ended the day down 1.4%, the S&P 500 sank 1.75% and the Nasdaq fell 2.6%.
Officials from Canada and Mexico had been in Washington in recent days, trying to avoid the tariffs.
Mexico’s president, Claudia Sheinbaum, appeared to send a message to Trump earlier on Monday when she said at a public event in the city of Colima that “Mexico has to be respected”. “Co-operation and co-ordination, yes, subordination, never.”
Canadian Prime Minister Justin Trudeau said on Sunday, from a summit on Ukraine in London, that Canada was “not an issue” as a source of illegal fentanyl in the US.
Only 1% of fentanyl seized in the US is thought to come from Canada, according to US data.
The Canada Border Services Agency (CBSA) says it has been “surging” its efforts to tackle fentanyl crossing into the US.
Canada has repeatedly said tariffs will harm both economies but added that it will defend itself if they happen.
Last month, it prepared a list of $30bn (£23.6bn) worth of American goods it said it would levy in response to US tariffs. Items on that list included everyday goods like pasta, clothing and perfume.
Canadian Internal Trade Minister Anita Anand met officials in Washington in recent days and said over the weekend there will be a response.
“We are steady at the wheel. We are prepared for any eventuality, but we will at every turn defend our country’s economy,” she told CBC News.
China’s state-run Global Times newspaper said that Beijing had prepared countermeasures, which would probably target US agricultural and food products.
President Trump has also announced a 25% charge on all steel and aluminium imports, which is meant to come into effect on 12 March.
In addition, he has threatened to impose custom “reciprocal” tariffs on individual countries, as well as 25% tariffs on the European Union.
[BBC]
The Italian embassy in Colombo celebrated Italian Design Day and The Days of Italian Fashion in the World by hosting Brenda Bellei Bizzi, the CEO of WHITE Milano, a renowned fashion tradeshow held during Milan Fashion Week. She collaborated with Colombo Fashion Week Summer 2025 in its 22nd edition presenting Sicilian designer Cettina Bucca’s Spring/Summer 2025 collection at CFW. Brenda Bellei Bizzi was appointed Ambassador for Italian Design in Sri Lanka in the 2025 edition of Italian Design Day.
Focusing on contemporary women’s wear design, WHITE became a significant platform for promoting emerging designers and sustainable fashion practices at CFW this year. Brenda’s discussions integrate well with the ethos of circularity in fashion, creating a fashion ecosystem that provides support for designers to enter the global fashion industry. Additionally, her discussions with fashion and design students at the College of Fashion & Design and fashion designers about opportunities at WHITE added momentum to their journey into the world of fashion on the global ramp.
Delighted to bring the unparalleled expertise of Brenda Bellei Bizzi to Sri Lanka, Ambassador for Italy in Sri Lanka Damiano Francovigh said, “Fashion and Italy are inextricably linked and having Brenda Bellei Bizzi with us to celebrate Italian Design Day and the launch of The Days of Italian Fashion in the World in Sri Lanka augments that premise. As the ambassador for Sri Lanka in the 2025 edition of the Italian Design Day, Brenda Bellei Bizzi’s collaboration with Colombo Fashion Week allowed us to showcase Italian fashion in this beautiful country.”
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