Business

SL to launch first Dedicated Sustainable Tourism Association in South Asia

Published

53 mins ago

2026/05/9

Thilina Walpola

Tourism personnel at the press briefing

‘Sri Lanka embarks on a journey towards a more sustainable and prosperous tourism industry.’

The Executive Committee of the Sustainable Tourism Association of Sri Lanka (SusTour) announced the above at its final meeting held on May 6, at Connaisance head office, Colombo. The committee finalised all preparations for the official launch in August of the first private sector led, non-governmental Sustainable Tourism Association in South Asia, as most tourism associations in Asia operate as dedicated Eco Tourism entities while this is probably the first in Asia.

This momentous event will be officiated by Prof. Ruwan Ranasinghe, the Deputy Minister of Tourism, who has agreed to inaugurate the Association in conjunction with a media launch.

Prof. Ranasinghe is not only a qualified academic specializing in sustainable tourism but also a passionate advocate for the development of sustainable tourism practices in Sri Lanka. His involvement is pivotal, as he has expressed his commitment to provide unwavering support to the Sustainable Tourism Association of Sri Lanka.

In addition to Prof. Ranasinghe’s support, Buddhika Hewawasam, chairman, SLTDA and Dheera Hettiarchchi, chairman, Sri Lanka Institute of Tourism and Hospitality Management, have also pledged their cooperation in the implementation of sustainable tourism initiatives through their respective state organisations. Their combined expertise and resources are expected to play a crucial role in shaping the future of tourism in Sri Lanka, ensuring that it aligns with sustainable development goals.

This inauguration marks a significant step towards fostering a sustainable tourism framework in Sri Lanka, one that prioritizes environmental preservation, cultural heritage and economic viability. The Sustainable Tourism Association of Sri Lanka is poised to lead the charge in promoting responsible tourism practices, ensuring that the industry flourishes while respecting the rich natural and cultural resources of the island.

Speaking at an exclusive press interview the Tourism Deputy Minister noted; “I am thrilled to see the private sector actively participating in the promotion of sustainable development, particularly within the tourism industry. This partnership is not just beneficial but essential, as it represents a viable mission that requires the joint engagement of both government and private entities. By working together, we can ensure that our tourism practices not only enhance economic growth but also preserve our natural resources and cultural heritage for future generations. It is through this collaborative approach that we can create lasting change and fulfill our commitment to sustainability.”

Adding to this collaborative effort, Australian High Commissioner Matthew Duckworth said Australia would continue its long-term support for sustainable tourism development in Sri Lanka. Australia has contributed more than 50 million Australian dollars over the past decade to sustainable tourism initiatives in Sri Lanka, including to support more sustainable planning, accreditation and skills development for this crucial sector. The High Commissioner confirmed that this support would continue into the future and highlighted Australia’s partnership with the Market Development Facility (MDF), which had recently launched a new initiative using data analytics to help Sri Lankan policy makers better understand how travelers discover and engage with destinations.

“Our vision is to create a platform where all stakeholders including product manufacturers can collaborate and share best practices in sustainable tourism, said Chandra Wickramasinghe, elected founder president of the Association. “We aim to ensure that tourism in Sri Lanka not only provides economic benefits but also contributes positively to the environment and local communities, he added.

The founders of STASL-SusTour believe that sustainable tourism is the ‘Future of World Tourism’ and is crucial for the long-term viability of Sri Lanka’s tourism sector, which is a significant contributor to the nation’s economy. By fostering responsible travel practices, the association seeks to educate stakeholders, including tourists and businesses along with manufacturers about the importance of sustainability.

‘ The association plans to launch various initiatives, including workshops, awareness campaigns and partnerships with local and international organizations focused on sustainable tourism, said Nalin Malwenna, newly elected secretary. Through these efforts, SusTour hopes to position Sri Lanka as a leading destination for eco-conscious travelers looking for authentic and responsible travel experiences.

“The establishment of the Sustainable Tourism Association of Sri Lanka arrives at a pivotal moment, signaling a commitment to a more sustainable future in the nation’s tourism landscape, said elected treasurer Dr. Samantha Pathirathne.

By Claude Gunasekera

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Business

Siyapatha Finance unveils 62nd branch in dynamic Horana City

Published

1 hour ago

2026/05/9

Thilina Walpola

Premier finance company Siyapatha Finance PLC recently unveiled its newest branch in Horana, successfully expanding its islandwide branch network to 62 branches. Located in one of the fastest-emerging economic hotspots in the Kalutara District, the Horana branch offers Siyapatha Finance’s wide range of holistic financial services including leasing, fixed deposits, gold financing, business loans,fast draft, factoring, and Smart Pay – the Company’s bill payment facility.

The branch was declared open by Siyapatha Finance PLC Directors- Jayanath Gunawardena and Ms. Sriyani Ranathunga , Chief Executive Officer (CEO) Mathisha Hewavitharana in the presence of Chief Operating Officer (COO) Rajeev De Silva, Ms. Dinuli Gihansi Perera -student of Govinna Maha Vidyalaya , Horana who has been selected to represent Sri Lanka for Asian Boxing Championship 2026 , Senior Management, staff members as well as Police HQI Ranga Perera , Grama Niladhari Mr. Chaminda Kumara, representatives of the government and private banks and insurance companies and well-wishers.

Speaking at the ceremony, Siyapatha Finance PLC CEO Mathisha Hewavitharana remarked: “Horana is a region that has captured massive interest nationally in terms of commercial and social development in recent years. Expanding our branch network to this area gives us a significant opportunity to broaden our reach and serve a larger, diverse ;;customer base’’.

Business

Lingering M-E tensions negatively impact rupee and usher in a degree of volatility

Published

1 hour ago

2026/05/9

Thilina Walpola

The CSE witnessed some market volatility yesterday because of West Asian tensions, which impacted the Sri Lankan rupee negatively in tandem with oil price fluctuations. Amid those developments both indices indicated some bullishness. The All Share Price Index went up by 88.15 points, while the S and P SL20 rose by the 33.35 points. Turnover stood at Rs 4.09 billion with 10 crossings.

Those crossings were: Sarvodaya Developments Finance, which crossed 4.3 million shares to the tune of Rs 182 million; its shares traded at Rs 41.40, CCS 1.25 million shares crossed to the tune of 156 million; its shares sold at Rs 125.50, Commercial Bank 620,000 shares crossed for Rs 130 million; its shares traded at Rs 210, LOLC Holdings 125,000 shares crossed for Rs 71.9 million; its shares traded at Rs 575, Colombo Dockyard 500,000 shares crossed for Rs 67.50 million; its shares sold at Rs 135, LMF 450,000 shares crossed for Rs 43.2 million; its shares traded at Rs 90 and CIC 1.2 million shares crossed for Rs 41 million; its shares traded at Rs 34.30.

In the retail market companies that mainly contributed to the turnover were; Colombo Dockyard Rs 506 million (3.7 million shares traded), Commercial Bank Rs 207 million (985,930 shares traded) ,Lanka Realty Rs 103 million (1.9 million shares traded), Haycarb Rs 93.3 million (662,000 shares traded), Bairaha Farm Rs 87.5 million (923,000 shares traded) Industrial Asphalts Rs 69 million (99 million shares traded) and Royal Ceramics Rs 67 million (1.4 million shares traded). During the day 273.7 million share changed hands in 31185 transactions.

It is said that the banking and financial sector performed well; especially Sarvodaya and Commercial Bank, while the manufacturing sector, especially Haycarb, performed well. Further in the FMCG sector, Bairaha Farm performed well at the floor.

Yesterday the rupee was quoted at Rs 321.80/90 to the US dollar in the spot market, weaker from Rs 321.70/85 the previous day, dealers said, while bond yields were steady.

A bond maturing on 01.07.2028 was quoted flat at 9.65/70 percent.

A bond maturing on 15.10.2028 was quoted at 9.70/80 percent, down from 9.75/80 percent.

A bond maturing on 15.06.2029 was quoted at 9.80/90 percent.

A bond maturing on 15.09.2029 was quoted flat at 9.85/95 percent.

A bond maturing on 15.12.2029 was quoted at 9.95/10.00 percent, up from 9.90/10.00 percent.

A bond maturing on 01.07.2030 was quoted flat at 10.10/20 percent.

A bond maturing on 01.03.2030 was quoted flat at 10.10/20 percent.

A bond maturing on 01.06.2033 was quoted at 10.90/11.00 percent, down from 10.95/11.05 percent.

A bond maturing on 15.06.2034 was quoted at 11.15/20 percent, down from 11.15/22 percent

By Hiran H Senewiratne

Business

MillenniumIT ESP appoints Harendra Samarasinghe as CEO

Published

1 hour ago

2026/05/9

Thilina Walpola

Samarasinghe

MillenniumIT ESP (MIT ESP), Sri Lanka-based technology solutions provider, has appointed Harendra Samarasinghe as its new Chief Executive Officer, as the company advances its ongoing transformation agenda and accelerates global growth.

Samarasinghe brings over 20 years of experience in global technology and professional services, with a record of leading large-scale delivery organisations and supporting Fortune 500 clients across multiple regions. He has led geographically distributed engineering teams, managed multi-million-dollar portfolios, and established high-performing delivery centres aligned with international standards including CMMI and ISO.

His expertise spans enterprise transformation, including ERP and CRM modernisation programmes, and the development of advanced cloud and data platforms across AWS, Azure, and Google Cloud. He has also led Generative AI initiatives and established AI and machine learning Centres of Excellence, supporting organisations to accelerate innovation while strengthening operational performance.

Samarasinghe holds an MSc and an MBA, and is certified as a Chief Data and AI Officer by the National University of Singapore.

The appointment comes as MIT ESP strengthens its presence beyond Sri Lanka and expands collaboration with international partners, with a focus on delivering enterprise-grade transformation across key industries including banking, travel, insurance, healthcare, and life sciences.

About MillenniumIT ESP

MillenniumIT ESP is a global provider of purpose-driven technology solutions, delivering agile and adaptive enterprise solutions to businesses worldwide. With nearly 30 years of experience, the company addresses both current and future business challenges through innovative technology.

Headquartered in Sri Lanka, MillenniumIT ESP has expanded its presence to Bangladesh, Singapore, Dubai, and Australia, with its latest addition, the Global Service Delivery Centre, based at Port City Colombo, Sri Lanka.

The company offers a comprehensive portfolio of enterprise solutions, including infrastructure platforms, network solutions, cybersecurity solutions, cloud services, managed services, software, and automation. Serving a diverse range of industries—Telecommunications, Banking and Financial Services, Government, Manufacturing, Retail, and other Commercial sectors—MillenniumIT ESP is committed to reimagining and reinventing the global technology landscape.

With deep industry expertise, a digital-first mindset, and a commitment to flawless execution, MillenniumIT ESP has successfully completed over 2,000 projects and served more than 500 customers worldwide.