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RCSS commemorates Prof. Shelton Kodikara with Memorial Oration by leading global IR scholar Prof. Amitav Acharya

Published

2 weeks ago

2026/08/18

Prof. Amitav Acharya

The ‘Professor Shelton U. Kodikara Memorial Oration’ organized by the Regional Centre for Strategic Studies (RCSS), in collaboration with the Bandaranaike Centre for International Studies (BCIS), was held on 8 August 2026 at the BCIS auditorium. Commemorating the pioneer of the study of International Relations in Sri Lanka and the founder of the RCSS, it brought together friends and family of the late Professor, diplomats, public officials, academics, policymakers, other distinguished invitees and students of international relations. At the commencement, a floral tribute was offered in memory of Prof. Kodikara by his son Mr. Dilip Kodikara, a Founder member of the RCSS Board of Directors, and a commemorative video reflecting the legacy of Prof. Kodikara was presented.

In the keynote address, the Chief Guest, former President Chandrika Bandaranaike Kumaratunga, Chairperson/BNMF and BCIS Council of Management, recalled that Prof. Kodikara was not merely an academic, but a leader of Sri Lanka’s national intellectual identity. Noting that in much of our post-independence history, our foreign policy was practiced in what may be called a void of academic expertise where the praxis of diplomacy prevailed over scholarship, she said Prof. Kodikara changed that. While the international environment remains unforgiving to smaller states, she highlighted the continuing relevance of Prof. Kodikara’s work in confronting the foreign policy challenges of Sri Lanka, the region, and the broader ‘Global South’. In this regard, she drew attention to the significance of the Fifth Summit of the Non-Aligned Movement, held in Colombo in 1976 chaired by Prime Minister Sirimavo Bandaranaike – the 50th anniversary of which is being commemorated on 16 August 2026. Noting that the established international order has been “made to stand on its head”, she said the Global South is increasingly compelled to translate the traditional principle of non-alignment into contemporary approaches of strategic hedging and multi-alignment, as states seek to protect their national interests amid growing geopolitical and economic uncertainty.

Delivering the Shelton U. Kodikara Memorial Oration, Prof. Amitav Acharya, Distinguished Professor of International Relations at the American University, Washington, D.C., and UNESCO Chair in Transnational Challenges and Governance, began by reflecting on Prof. Kodikara’s contribution as a pioneer of International Relations scholarship in South Asia and an institutional builder. Drawing a parallel with his own longstanding effort to broaden the discipline beyond its traditional Eurocentric and American-centric focus, Professor Acharya presented key arguments from his latest book, The Once and Future World Order: Why Global Civilization Will Survive the Decline of the West. He argued that world order is not the monopoly of any single nation, civilization, or region, but a shared creation that has evolved through the experiences and interactions of societies over several millennia. Focusing on the theme – ‘What Comes after US Hegemony’ he cautioned against viewing contemporary international change simply as a transition from Western to non-Western dominance, arguing instead that the decline of Western primacy creates an opportunity for a more plural configuration of global power. Moving beyond the concept of Multipolarity, he described a new “Global Multiplex”, envisaging a more de-centered, polycentric and pluralistic international order, in which influence is distributed across great powers, middle and regional powers, international organizations and non-state actors, rather than being concentrated.

Earlier, in welcome remarks, the Executive Director of the BCIS Ms. Priyanthi Fernando described Professor Kodikara as a legend, and recalled how as a dedicated lecturer at the BCIS– he would travel to Colombo from Kandy just to conduct a class. She said, in an age where we are using hybrid, online modes to reach wider audiences, and where the acquisition of knowledge has often become secondary to the acquisition of certificates or diplomas, the example of Professor Kodikara’s commitment to international relations scholarship needs to be remembered and emulated.

Introducing the orator, the Executive Director of the RCSS Ambassador (Retd.) Ravinatha Aryasinha emphasized Professor Acharya’s invaluable contribution to Global International Relations, observing that his research has reshaped how we understand the world order, international norms and the Global South. He added that few scholars from the region have contributed as extensively, while continually re-interpreting the changing dynamics of the international system. Amb. Aryasinha re-affirmed the RCSS’s commitment to research, dialogue and policy advocacy, and said the presence at the event of the full range of local, regional and global constituencies that were influenced by Prof. Kodikara’s work – including RCSS Alumni and participants at the ongoing International Studies Association (ISA) South Asia in Sri Lanka, was a fitting tribute to the Kodikara legacy.

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Business

Urgent joint action plan to tackle pollution in Lake Gregory

Published

19 hours ago

2026/08/29

Thilina Walpola

Top level consultations proceeding on Lake Gregory

By Ifham Nizam

An urgent joint action plan is to be implemented to tackle the worsening water pollution threatening the environmental health and tourism value of Lake Gregory in Nuwara Eliya, following a special inspection and high-level discussion held yesterday.

The inspection and subsequent discussion were led by Deputy Minister of Environment Anton Jayakody, who stressed the need for immediate and coordinated intervention to address the emerging pollution problem before it causes further ecological damage to the iconic lake.

The meeting, held at the Nuwara Eliya District Secretariat, brought together Deputy Minister of Education Dr. Madhura Seneviratne, Chairman of the Nuwara Eliya District Coordinating Committee Manjula, District Secretary Nandana Jayakody, Secretary to the Ministry of Environment K. R. Uduwawala, the Central Environmental Authority’s District Director and senior officials representing the Irrigation Department, National Water Supply and Drainage Board and Urban Development Authority.

A key decision was to establish a special Management Committee comprising representatives of the Sri Lanka Navy, Central Environmental Authority, Nuwara Eliya Municipal Council and District Secretariat to formulate and implement an immediate action programme.

The committee is expected to identify practical short-term measures while accelerating longer-term interventions aimed at preventing pollutants from reaching the lake.

One of the immediate priorities will be the reactivation of the 13-pond natural treatment system, which was designed to naturally filter agricultural runoff and urban wastewater before such pollutants enter Lake Gregory.

Officials also discussed strengthening natural aeration and introducing natural filtration methods to tackle foul odours and improve the quality of the lake water.

Particular attention will be given to reducing nitrogen and phosphorus concentrations, which can contribute to excessive nutrient enrichment and deterioration of aquatic ecosystems.

The meeting further emphasised the urgent need to prevent wastewater from the Nuwara Eliya municipal sewerage network and other sources of waste from being discharged into the lake.

Long-term project proposals aimed at providing a sustainable solution to wastewater and pollution entering Lake Gregory will also be expedited.

The authorities recognised that protecting Gregory Lake is not merely an environmental obligation but is also critical to safeguarding Nuwara Eliya’s tourism economy. The lake remains one of the town’s most prominent attractions, drawing large numbers of domestic and foreign visitors.

The Government therefore intends to coordinate the efforts of all relevant institutions to implement both immediate remedial measures and long-term pollution-control projects.

The latest initiative comes amid growing concern over the condition of the lake, highlighting the need for a comprehensive approach that addresses pollution at its sources rather than relying solely on periodic clean-up operations.

Authorities said prompt implementation of the agreed measures would be essential to restore and protect the ecological health of Gregory Lake while preserving its scenic value and appeal as one of Nuwara Eliya’s major tourist attractions.

Business

Sri Lanka: An example of a country building a modern, resilient financial architecture

Published

19 hours ago

2026/08/29

Thilina Walpola

SB Seker, Head of APAC, Binance

By SB Seker, Head of APAC, Binance

Sri Lanka’s economic rebound over the past four years is a testament to national resilience. The World Bank’s recent upgrade of Sri Lanka to an upper-middle-income economy, alongside significant improvements on the Global Peace Index, marks a definitive turning point. The nation has successfully moved past acute crisis management and is now laying the groundwork for long-term stability.

Sustained economic recovery requires more than traditional macroeconomic rebuilding, it demands a future-proof financial ecosystem. As commerce, capital flows, and consumer behavior increasingly digitize, governments worldwide are recognizing that emerging technologies cannot remain in a regulatory vacuum.

This is precisely why the Sri Lankan government’s recent decision to empower the Securities and Exchange Commission (SEC) as the official regulator for Virtual Assets and Virtual Asset Service Providers (VASPs) is a landmark policy move. Sri Lanka is signaling that it is serious about holistic financial modernization. Protecting retail investors from spurious platforms, encouraging accountability, and embracing structural reform are the hallmarks of an economy looking confidently toward a secure digital future.

For an island nation with an estimated 420,000 digital asset users – a population that is young, highly literate, and tech-savvy – establishing a clear regulatory perimeter is important. The absence of formal frameworks means retail participants may navigate unmonitored digital spaces without regulatory recourse, facing elevated risks from opaque operators and platforms lacking essential consumer safeguards. That gap is exactly where bad actors thrive. By bringing VASPs under structured oversight, aligned with robust Anti-Money Laundering (AML) standards, Sri Lanka is prioritizing market integrity and user protection.

Crucially, this regulatory clarity empowers everyday citizens. A functioning VASP framework closes it. Clear rules draw a bright line between deceptive actors and transparent, Tier-1 compliant platforms that adhere to rigorous standards. When compliance becomes the baseline, users gain access to critical transparency measures. Simple things like proof-of-reserves audits, independent confirmation that customer funds are actually there, stop being a nice-to-have and start being table stakes.

The legislation still has to be drafted and passed, and effective implementation will be the key part. Licensing timelines need to be realistic, compliance requirements need to make sense for both global exchanges and smaller local players, and the dialogue between regulators and industry needs to continue past the Cabinet approval. Get that right, and Sri Lanka won’t just have caught up with global standards, it will have shown other emerging economies a workable path for doing the same.

Business

Positive sentiments make a comeback to CSE in wake of peace deal news

Published

19 hours ago

2026/08/29

Thilina Walpola

By Hiran H. Senewiratne

CSE trading yesterday reflected positive sentiments due to reducing tensions in the West Asian region following Iran’s positive reactions to peace overtures.

The All Share Price Index went up by 43.21 points, while the S and P SL20 rose by 20.37 points.

Turnover stood at Rs 2.2 billion with three crossings. Those crossings were; Softlogic Capital 6.7 million shares crossed to the tune of Rs 73 million; its shares traded at Rs 11, HNB 176,000 shares crossed for Rs 67 million; its shares traded at Rs 380 and JKH 1 million shares crossed for Rs 20 million; its shares sold at Rs 19.70.

In the retail market companies that mainly contributed to the turnover were; WindForce Rs 495 million (12.7 million shares traded), Digital Mobility Solutions Rs 258 million (1.6 million shares traded), Sierra Cables Rs 246 million (6.9 million shares traded), Haycarb Rs 90 million (457,000 shares traded),Commercial Credit and Finance Rs 79 million (733,000 shares traded), HNB Rs 74 million (195,000 shares traded) and CCS Rs 57 million (548,000 shares traded). During the day 66.4 million share volumes changed hands in 17017 transactions.

It is said that the banking sector, especially HNB, and manufacturing sectors performed well, while the renewable energy sector, especially WindForce, traded well at the floor.

Meanwhile, Arcasia Investment & Trading and ATX Partners announced the conversion of their voluntary offer to a mandatory offer for Industrial Asphalts (Ceylon) under the Company Takeovers and Mergers Code.

The offers received acceptances totaling 1,880,693,010 shares (50.16% shareholding), including 48.03% from Ramanan Govindasamy and 2.13 percent from Srikumar Balasubramaniyam on August 24, 2026

Yesterday the rupee was quoted at Rs 328.00/05 to the US dollar in the spot market stronger from Rs 328.50/60 Tuesday, while bond yields were steady to lower on select tenors, dealers said.