Business
Three years of R&D by Velona Cuddles yield alcohol-free baby care range
By Ifham Nizam
Velona Cuddles, a renowned baby care brand, launched what is touted as the safest baby care range in the country at an event held last Friday at Cinnamon Lakeside. This new line of alcohol-free, pH 5.5 baby care products complements Velona Cuddles Diapers, celebrated as the world’s first diaper range, free of harsh chemicals.
Dr. Gehan De Soysa, chairman and CEO of the Velona Group of Companies, stressed at the launch that these alcohol-free baby care products are the result of three years of rigorous research and development, drawing inspiration from leading European baby care brands,, such as Sebamed and Mustela.
Dr. De Soysa emphasized: “We are dedicated to providing parents with safe, non-irritating products that promote comfort for their babies. Many baby care products on the market contain harmful chemicals and irritants, which is concerning. Our mission was to develop products that are free from such chemicals, particularly alcohol, which can dry and irritate delicate skin, strip natural oils, and potentially cause painful rashes. With our groundbreaking research and development, parents can now opt for gentle, alcohol-free products that promote healthy skin and a happy baby.”
He further stated that Velona Cuddles’ products are designed to offer optimal care for babies without exposing them to harmful chemicals. “We believe every baby deserves to grow up healthy and happy,” he added.
Speaking to The Island Financial Review, Dr. De Soysa responded to our queries:
Whose brainchild was this initiative and how did it start?
‘I (Dr. Gehan De Soysa), am always in search for the best and safest for the babies in Sri Lanka, and that’s how the Velona Cuddles diapers also came in as an initiative sometime back. This is also such a thought of mine- with the passion for ensuring that parents have safe, non-irritating and comfort-promoting products for their babies and children.
‘The amount of potentially harmful chemicals and irritants found in many baby care products in the market today is disturbing. That’s why, we set out to engineer products that are free from such chemicals, especially alcohol – as it dries and irritates delicate skin, stripping natural oils and potentially causing painful rashes. Now, thanks to our game-changing research and development, parents can opt for gentle, alcohol-free products for healthy skin and a happy baby.
Are there any plans to expand into overseas markets, particularly the Middle East?
Yes, we do. Velona Cuddles is already available in a range of overseas markets such as Australia, Indonesia, Kiribati, Mongolia, Malaysia, the Maldives, Canada, Qatar and Vietnam. We have also secured international trademarks in USA, India, Australia, China, Kenya, Vietnam and UAE.
Therefore, this range will also surely be made available in other markets also very soon, and we are sure that the products will be embraced and accepted by those markets also, just as they accepted our diapers. Alcohol- free products are a need in those markets as well, so we firmly believe that we can win those markets as well with our new range of baby care products.
Could you elaborate on your eco-friendly initiatives?
We do have a lot. And the main is our exclusive biodegradable premium bamboo diaper and bamboo water wipes. These diapers are 75% bio-degradable, made from organic bamboo fibres and decompose in soil by micro-organisms and sunlight in just 75 days.
We have also won awards for Best Eco Focused Organisation – FMCG, and Best Eco Product – FMCG at the ACEF Asian Leader Forum & Awards for our initiatives in sustainability and eco-friendliness.
To what do you attribute your eight decades of success?
Over that eight decades, Velona has consistently prioritised the health and well-being of children. Velona is synonymous with safety, comfort, and durability, earning trust through high- quality products. Expanding into hygiene and pharmaceutical sectors, we uphold our commitment to innovation and premium quality.
Is there anything else you would like to add?
We are a company that meets and exceeds the expectations of consumers. We shall continue to introduce new products to the Sri Lankan market as well as that of the global that will surely help them to upgrade their lifestyles. Under the baby care range also, different products will come in future as a result of our extensive research and development and commitment to quality.
Business
AIA delivers strong first half results in 2026; double-digit growth across key financial metrics
The Board of AIA Group Limited (the “Company”) is pleased to announce the Group’s financial results for the six months ended 30 June 2026. Growth rates are shown on a constant exchange rate basis unless otherwise stated:
New business performance and embedded value
Value of new business (VONB) of US$3,212 million, up 10 per cent overall and 14 per cent excluding Thailand(1)
Record high annualised operating ROEV of 18.0 per cent, up from 15.8 per cent in full year 2025
EV Equity of US$83.4 billion, up 6 per cent per share over the first half on an actual exchange rate basis
IFRS earnings
Operating profit after tax (OPAT) of US$4,163 million, up 13 per cent per share
AIA now expects to exceed OPAT per share CAGR target of 9 to 11 per cent from 2023 to 2026(2)
Record high annualised operating ROE of 17.5 per cent, up from 15.5 per cent in full year 2025
Cash generation and capital returns
Underlying free surplus generation (UFSG) of US$3,935 million, increased by 10 per cent per share
Net free surplus generation (net FSG) of US$2,758 million, up 12 per cent per share
US$3.6 billion returned to shareholders in the first half through dividend and share buy-back
Interim dividend increased by 10 per cent to 53.90 Hong Kong cents per share
Lee Yuan Siong, AIA’s Group Chief Executive and President, said:
“AIA has delivered another strong performance in the first half of 2026, with double-digit growth across our key financial metrics, while continuing to return substantial capital to shareholders. VONB reached a record high of US$3.2 billion with growth across all distribution channels, and all reportable segments excluding Thailand. The Group has achieved 17 per cent CAGR since the first half of 2023(3), demonstrating consistently strong demand for AIA’s professional advice and differentiated products.
“At the core of our unrivalled distribution platform is our market-leading Premier Agency. I am delighted that AIA has once again been ranked the number one Million Dollar Round Table (MDRT) multinational company globally. We have held this position for a record 12 consecutive years and we have more than double the number of MDRT members of our nearest competitor. In the first half of 2026, our Premier Agency achieved strong VONB growth of 11 per cent excluding Thailand(1). Our extensive network of strategic distribution partners further expands our market reach and generated an 18 per cent increase in VONB, supported by very strong performance in both the bancassurance and independent financial adviser (IFA) and broker channels.
“Strong new business, together with disciplined management of our in-force portfolio, has supported sustained growth in recurring earnings with OPAT per share up by 13 per cent in the first half. As a result, we expect to exceed our 9 to 11 per cent OPAT per share CAGR target for 2023 to 2026(2). UFSG, the Group’s core measure of operating cash generation, increased by 10 per cent per share. After allowing for new business investment, net FSG increased by 12 per cent per share. In accordance with our prudent, sustainable and progressive dividend policy, the Board has declared a 10 per cent increase in the interim dividend to 53.90 Hong Kong cents per share. These achievements demonstrate that our financial strategy is working as intended.
“Asia remains the most compelling growth opportunity for life and health insurance. Powerful structural tailwinds across the region continue to create substantial demand for our professional advice and differentiated products and underpin the exceptional long-term prospects for AIA’s business. I am confident that AIA’s disciplined execution of our strategic priorities will continue to deliver long-term sustainable value for all our stakeholders.”
Business
British Council Sri Lanka launches soft skills workshops to elevate learning and empower communication
The British Council Sri Lanka has launched Corporate English Solutions (CES), tailored to the Sri Lankan corporate and education ecosystem, aimed at helping organisations strengthen workplace communication and professional development.
The launch event took place recently at the NH Collection, Colombo 3, gathering corporate partners, clients and education stakeholders throughout the country.
CES extends the British Council’s long-standing work in English language education and teacher training into a dedicated offering for the corporate sector. The launch introduced two new components to the British Council’s presence in Sri Lanka such as public workshops and teacher training programmes, open to learners and educators beyond the organisation’s existing corporate and academic partners. Guests at the event were shown a short video introducing Corporate English Solutions before the formal proceedings began.
Talal Meer, British Council Regional Business Development Director, South Asia, welcomed guests and introduced the British Council’s team in Sri Lanka. In his remarks, Meer set out the scope of the CES launch, covering the introduction of public workshops in Sri Lanka, the rollout of teacher training programmes, and an overview of the CES product portfolio. Meer’s role covers educational partnerships in the South Asia region, and his address framed the Sri Lanka launch within the British Council’s broader regional strategy.
Business
Ogilvy Group tops award tally at ‘Dragons of Sri Lanka’ 2026
Ogilvy Group Sri Lanka delivered a standout performance at the recently concluded Dragons of Sri Lanka 2026 Awards, securing a total of nine awards comprising two Gold Dragons, one Silver Dragon and six Black Dragons, among the festival’s highest overall award tallies. Gold Dragon wins for Phoenix Ogilvy and Ogilvy Digital, together with the seven additional recognitions across multiple categories, highlighted Ogilvy’s ability to combine creativity, strategic thinking and commercial effectiveness to deliver business results.
Organised by the 4As Sri Lanka, the third edition of Dragons of Sri Lanka shortlisted more than 50 agencies and corporates, making it one of the country’s most competitive marketing communications awards. These local awards, along with the chapters in Malaysia and Pakistan are part of the Dragons of Asia platform, one of the region’s leading programmes for marketing communications effectiveness, with entries being judged on strategy, originality, execution and measurable results.
Ogilvy Digital accounted for eight awards in total, including a Gold Dragon in the Business & Trade Marketing category, and a Silver Dragon in the Innovative Idea or Concept category. The Agency additionally received six Black Dragons across the categories of Innovative Idea or Concept, Business & Trade Marketing, Content Creation, Small Budget, Event or Experiential, and Brand Trial or Sales Generation.
Commenting on the achievement, Sajith Weerasinghe, Chief Operating Officer of Ogilvy Digital, said, “These recognitions reflect the breadth of capabilities we’ve built across strategy, creative, content, experience design, technology and performance marketing. The fact that the work was recognised across so many different disciplines demonstrates our ability to apply creativity to a wide range of business challenges and objectives. We’re proud that this achievement spans multiple clients, categories and types of work, reflecting both the versatility of our people and our commitment to delivering results.”
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