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President champions global recognition for ‘Made in Sri Lanka chocolates’

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Group Executive Director of Upali Group of Companies Mr Nimal Welgama accepting award from President Ranil Wickremesinghe at the 30th Annual General Meeting of the Lanka Confectionery Manufacturers Association

President Ranil Wickremesinghe outlined a vision to become a major global player in the confectionery industry, stressing the potential for the ‘Made in Sri Lanka chocolates’ to gain international recognition.

Speaking at the 30th Annual General Meeting of the Lanka Confectionery Manufacturers Association (LCMA) on Wednesday, the President encouraged local confectioners to expand their reach and tap into international markets. Acknowledging the worldwide success of Ceylon tea and cinnamon, Wickremesinghe posed a forward-thinking question, “How long before I can take chocolates and go?”

Expressing optimism, he called on the confectioners to explore new markets and consider exporting their products, insisting on the need to position ‘Made in Sri Lanka chocolates’ as a world-class product comparable to the distinguished reputation of the country’s tea and cinnamon.

Reflecting on the history of the confectionery industry, the President commended the pioneers and highlighted the sector’s growth and resilience.

President Wickremesinghe acknowledged the limitations for expansion within the country and drew attention to the success of the Kandos factory in Petaling Jaya, Malaysia, in 1978, as a testament to international triumph.

The President urged the confectionery industry to explore intercropping with cocoa, suggesting potential expansion in State plantations in Matale, Kandy, Mawathagama, and Dodangaslanda. Plans for collaboration with smallholders and discussions with the Governments of Ghana and Ivory Coast for cocoa access were also highlighted.

Pledging Government support, the President announced Rs. 8 billion for research and development to foster a thriving confectionery industry, urging collaboration, innovation and expansion into various areas of the food industry.

President Wickremesinghe outlined broader initiatives, including leasing State-owned plantations to Sri Lankan companies for the development of the food industry, including confectionery.

He also disclosed plans to modernise agriculture, boost competitiveness through the National Productivity Commission and enhance trade agreements with India and Thailand.

Addressing economic challenges, the President recognised ongoing negotiations for an additional 20 years to address the economic crisis.

Highlighting the need for sustainable solutions, he underscored the importance of export-oriented strategies to overcome financial hurdles. Advocating for increased exports, he identified the confectionery industry, particularly chocolates, as holding the potential for international recognition.

Awards were presented to esteemed confectionery industry founders and manufacturers, including Hinni Appuhamy, and Arthur Von. Possner, Junius Motha, Mineka Wickremesinghe, P.J.C. Perera, Sinnasamy Muttiah, Upali Wijewardene and Vidanage John Appuhami in recognition of their immense contribution.

LCMA Chairman Dr. Samitha Perera has the pivotal role of increasing the country’s dollar income for sustaining current benefits.

He also expressed gratitude for the President’s substantial efforts in the economic recovery of Sri Lanka, acknowledging his presence as a source of courage and strength for the industry’s advancement.

Perera appreciated the President’s endeavours to improve the economy and emphasised the industry’s alignment with those efforts. Recognising the challenges faced amid a tough macroeconomic environment, he affirmed the organisation’s solidarity with the President.

Industrial and Health Minister Dr. Ramesh Pathirana, accompanied by Finance Minister Secretary Mahinda Siriwardena, Senior Advisor to the President on Economic Affairs Dr. R.H.S. Sanarathunga and members of the LCMA attended the event.



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

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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.

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Tata Group leads humanitarian education support initiative with DIMO and ChildFund

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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.”

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NovaNest Properties launches Rainbow Apartments in Ratmalana

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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.

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