Business
SPARK 2024 Competition finale crowns the best Young Entrepreneurs of Tomorrow
The highly anticipated grand finale of the 2024 edition of the SPARK Skilled Youth Entrepreneurship Competition was celebrated on the 5th of September. This national platform for Sri Lanka’s next generation of entrepreneurs empowered five finalists from both the ‘school’ and ‘open’ categories to showcase their innovative business ideas. The event culminated in the crowning of this year’s winners.
The annual SPARK Skilled Youth Entrepreneurship Competition is organised by the Ceylon Chamber of Commerce with support from the International Labour Organization (ILO), South Asia Leadership in Entrepreneurship (SALE) project, and funded by the US Department of State.
In the School Category, W. Lasindu Buddhika from Siripura Central College claimed the top spot with his promising venture ‘Dum Malu Bite’. In the Open Category, Dr. Merengnage Romela Merise Salgado emerged victorious with the startup ‘Pet Labs,’. Both winners were celebrated for their innovative ideas and entrepreneurial efforts, marking a successful outcome for this year’s competition.
During the competition’s first round, 100 contestants were selected from a diverse pool of applicants across the two categories. The selected participants navigated a rigorous skill development process including virtual training, residential bootcamp, one-on-one mentoring and business pitching sessions.
The business pitches by the top six finalists were a highlight of the event, with each contestant introducing their ideas to a panel of judges. The judges then announced the winners, awarding trophies and certificates to the winners and runners-up.
Ms. Thilaka Jayasundara, Secretary, Ministry of Education, emphasized the role of such competitions in nurturing innovation and entrepreneurship among students, saying, “The SPARK competition is not just about celebrating winners; it’s about nurturing an entrepreneurial mindset among all participants. It’s a platform for cultivating skills, confidence, and resilience to turn innovative ideas into reality. This year’s diverse range of entries—from tech solutions to eco-friendly products—showcases the boundless creativity and potential of our youth. They need encouragement, guidance, and support to transform these ideas into tangible businesses that can address global challenges and ensure their engagement in decent and productive work.”.
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
Commercial Bank leads nationwide aquatic clean-up drive
Commercial Bank of Ceylon mobilised employees, customers, volunteers and community members for a nationwide coastal and aquatic clean-up campaign across 20 locations on September 19 to mark International Coastal Cleanup Day 2026.
Conducted under the bank’s sustainability platform, themed ‘Forward Together for a Cleaner Future’, the initiative covered 16 coastal locations and four inland waterways, bringing together stakeholders for a coordinated environmental conservation effort.
The flagship programme was held at Mount Lavinia Beach, with additional activities at Wellawatte and Galle Face beaches. Similar initiatives were conducted by the bank’s regional offices at locations including Kalutara, Negombo, Trincomalee, Batticaloa, Puttalam, Jaffna, Galle, Dondra, Tangalle and along the Mahaweli River.
Employees, management, Future Force volunteers, customers and their families participated alongside the Marine Environment Protection Authority (MEPA), United Nations Global Compact Network Sri Lanka, government and local authorities, environmental organisations and community members.
The bank said the initiative reflected its commitment to water stewardship after adopting Sustainable Development Goal 6 — Clean Water and Sanitation — as a priority goal in 2025.
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