Business
Rural road connectivity to receive upgrade with ADB’s US $ 200mn assistance
Sri Lanka’s rural road network will receive an upgrade in the coming months, with the government having signed a US $ 200 million loan agreement with the Asian Development Bank (ADB), on Friday.
The new loan agreement, to support the roll out of the Second Integrated Road Investment Programme tranche three, will continue the assistance of ADB to upgrade Sri Lanka’s rural road network connecting vast rural populations to jobs and services.
Alongside the loan agreement, a project agreement was also inked between ADB and the implementing agency, the Road Development Authority.
The project will be implemented, despite the pandemic, while adhering to strict health guidelines and is expected to support the post-pandemic economic recovery in rural areas.
ADB said with the rural road network upgrade, the targeted areas will receive support through job opportunities and by obtaining services from rural populations, such as the hiring of vehicles, buildings, equipment, etc.
“Access to markets and business opportunities, especially along agricultural value chains, can be significantly improved with better transport infrastructure and can serve as the key to poverty reduction and shared prosperity in rural areas,” said ADB Country Director for Sri Lanka Chen Chen in a statement to the media.
He pointed out that economic growth is hindered by poor transport infrastructure, particularly some poorly maintained provincial and local roads.
Reflecting similar sentiments, Treasury Secretary S.R. Attygalle stressed that providing all-weather road access would help link rural communities to socioeconomic centres in Sri Lanka, thereby enabling rural communities to reap and enjoy the fruit of inclusive economic growth.
“This is very much in keeping with the government’s development policy and will contribute to the government’s development plan,” he added.
The freshly signed loan agreement is the third of five tranches under the Second Integrated Road Investment Programme, which was approved by ADB’s board of directors in 2017.
The programme will deliver a total financing of US $ 900 million to rehabilitate and improve about 3,400 kilometres (km) of rural access roads and 340 km of national roads in the Eastern, Northern, Uva and Western provinces.
It will improve the capacity of the country’s road agencies on road safety, maintenance, research, road design and construction. The programme is due for completion in 2027.
Business
Ceylinco Life agent among three global finalists for award
Ceylinco Life’s Ambalantota branch agent AIP Manjula has been named one of three global finalists for the prestigious Insurance Agent of the Year award at the 11th Asia Trusted Life Agents & Advisers Awards (ATLAA) 2026.
The recognition places a Sri Lankan insurance professional among the finalists in a regional field spanning South Asia, Southeast Asia, East Asia and the wider Asia-Pacific region.
Ceylinco Life said the achievement reflected the calibre and customer-focused approach of its agency force, while recognising Manjula’s professionalism and commitment to policyholders.
The award evaluates insurance agents on criteria extending beyond sales performance, including ethical conduct, client service, policy persistency, digital adoption, innovative practices and contributions to the insurance industry and community.
The awards are organised by Asia Advisers Network and Asia Insurance Review, with LIMRA as co-organiser. An independent judging and balloting process is monitored by KPMG as the official scrutineer. The judging panel comprises senior insurance executives, association presidents and industry experts from across the Asia-Pacific region.
Business
CEAT Kelani retains AA+ rating for sixth year
CEAT Kelani Holdings (CKH) has retained its National Long-Term Rating of ‘AA+(lka)’ with a Stable Outlook from Fitch Ratings for the sixth consecutive year, reflecting the company’s financial resilience and leading position in Sri Lanka’s pneumatic tyre market.
The ‘AA+(lka)’ rating, the second-highest on Fitch’s national scale, indicates a very strong capacity to meet financial commitments.
Fitch said CKH’s established market leadership and resilient financial profile remained key strengths, while noting its exposure to price-sensitive, cyclical and highly competitive markets.
The Stable Outlook reflects expectations that the company will maintain its market position despite rising input costs and increasing competition from imported tyres, while preserving adequate credit metrics during periods of weaker earnings and higher investment.
Fitch expects CKH’s established brand, extensive dealer network and adaptive pricing strategies to support its market position. Planned production facility upgrades are also expected to improve product quality, particularly in the radial tyre segment.
The rating agency expects near-term pressure on margins from higher raw material and energy costs but said the company’s low leverage and sound liquidity would provide a cushion.
CKH Chairman Chanaka De Silva said the rating reinforced the company’s focus on disciplined financial management, operational adaptability and long-term investment.
Business
SLT-MOBITEL Enterprise launches Premium Cloud
SLT-MOBITEL Enterprise, the enterprise services arm of Sri Lanka Telecom PLC, has launched its Premium Cloud service powered by Nutanix, aimed at helping Sri Lankan businesses modernise their IT infrastructure and accelerate digital transformation.
The service was unveiled at the Lanka Tech Summit 2026 held recently at ITC Ratnadipa, Colombo.
The Premium Cloud combines hybrid multi-cloud capabilities with enterprise-grade performance, enabling businesses to run mission-critical workloads, scale cloud deployments and strengthen business continuity through disaster recovery capabilities.
Hosted on SLT-MOBITEL’s Tier III data centre infrastructure, the platform is designed to provide enhanced security, reliability and flexibility while supporting the growing technology requirements of enterprises.
SLT-MOBITEL Enterprise said the platform would also support organisations seeking to adopt AI-ready capabilities and improve the management and performance of IT workloads.
A key feature of the launch was SLT-MOBITEL Enterprise joining the Nutanix Elevate Service Provider Program (NESPP), which the company said made it the first service provider in the region to join the programme.
Powered by Nutanix’s hybrid multicloud platform, the service enables application and data mobility across on-premises environments, public clouds and edge locations.
The company said the partnership combined Nutanix’s cloud technology with SLT-MOBITEL’s local expertise and support, strengthening its multi-cloud portfolio.
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