Business

ADB powers a new era of innovation at Rajarata University

Published

8 months ago

2025/09/29

Rajarata University of Sri Lanka

The Asian Development Bank (ADB) is making a substantial investment in Sri Lanka’s future, with the Rajarata University of Sri Lanka at the forefront of this transformative initiative. A total of $30 million has been allocated to the university as part of a broader project to enhance higher education in the country. This funding aims to establish a new Faculty of Technology, offering students industry-relevant programs in science and technology.

The project’s success, as highlighted by Principal Social Development Officer J.M.H. Jayasundara of the ADB’s Sri Lanka Resident Mission, underscores a shared vision of empowering the next generation with practical skills and entrepreneurial capabilities.

The university plans to generate revenue through its UBLs and by renting out its high-quality infrastructure

This strategic investment aligns perfectly with the ADB’s broader goals for education in its member countries. The project not only aims to enhance the quality of tertiary education but also to ensure its accessible and equitable for all. By targeting regional universities like Rajarata, the initiative actively promotes social mobility and gender equity through a comprehensive Gender Action Plan. The focus on STEM fields, curriculum reform, and fostering international partnerships positions Rajarata University to meet the evolving needs of Sri Lanka’s workforce and contribute to the nation’s Strategy 2030.

Overcoming Challenges

The project’s physical development has been a remarkable success. Despite the immense challenges posed by the COVID-19 pandemic – including lockdowns and supply chain disruptions – the construction of the new Faculty of Technology complex was completed with superior quality. This outcome is a testament to the dedication of the construction and supervision teams and the robustness of the project’s monitoring framework.

J.M.H. Jayasundara, Principal Social Development Officer of the ADB’s Sri Lanka Resident Mission

Beyond the physical structures, Rajarata University is addressing critical gaps in Sri Lanka’s higher education system. The new faculty complex, which features a platinum-rated green building and an innovation center called PULSE, is designed to enhance learning, research, and industry collaboration. The project also tackles human resource challenges by providing overseas scholarships and training programs for academic staff. These efforts are crucial for creating a forward-looking curriculum that fosters innovation.

Empowering Rural Communities

Rajarata University is strategically positioned to serve students from rural and marginalized backgrounds. By bringing state-of-the-art facilities and modern laboratories to underserved regions, the university is dismantling traditional barriers to accessing high-quality education. A standout example of this is the introduction of Bioprocess Technology, a degree program specifically designed to leverage the region’s agricultural strengths.

This focus on local context ensures that education is not only relevant but also a catalyst for local economic growth. The university is even conducting targeted research to address community-specific issues, such as the leishmaniasis disease.

The funding is also being used to create an ecosystem of innovation. The development of University Business Linkages (UBLs), industry incubators, and innovation hubs is fostering collaboration between academia and the corporate world. These platforms are already attracting businesses and creating valuable employment and entrepreneurial opportunities for the local population, further positioning the university as a key driver of inclusive regional development.

A Sustainable Model

To ensure the long-term sustainability of these new facilities and capacities, Rajarata University has a comprehensive strategy in place. The university plans to generate revenue through its UBLs and by renting out its high-quality infrastructure, including auditoriums and specialized equipment. These income streams will help maintain and upgrade facilities, ensuring that the university can continue to offer a cutting-edge education for years to come.

As the university makes full use of its new infrastructure, plans are already in motion to scale up operations. However, a few challenges remain, including the recruitment of additional staff and the establishment of new regulatory frameworks to support revenue generation.

In conclusion, Jayasundara said, “With the ADB’s continued support, and a clear path forward, an enhanced Rajarata University is poised to become a dynamic hub for education and innovation, playing a pivotal role in advancing Sri Lanka’s national development goals for decades to come.”

By Sanath Nanayakkare ✍️

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Business

Climate compliance pressure mounts on Lankan businesses

Published

24 hours ago

2026/06/7

Thilina Walpola

Lankan businesses are facing increasing pressure to strengthen climate governance, compliance, and risk management frameworks as climate-related disclosure requirements, investor expectations, and regulatory standards continue to evolve.

Against this backdrop, Genesis – the Dilmah Centre for a Sustainable Future will host a specialised post-summit technical workshop titled “Climate Action: A Strategic Executive Workshop on Climate Resilience and Business Continuity” on June 12, in Colombo.

The programme is designed as a continuation of discussions initiated at the Sri Lanka Climate Summit 2026 and will bring together sustainability managers, compliance officers, ESG professionals, risk specialists, and corporate decision-makers. It aims to translate climate commitments into practical business strategies.

The workshop will focus on implementation rather than advocacy, examining emerging disclosure frameworks, financing mechanisms, and regulatory pathways shaping corporate climate action in Sri Lanka.

Keynote speaker Dr. Lalanath de Silva, an internationally recognised environmental lawyer and governance expert, will address the evolving legal and compliance landscape influencing climate-related business decisions.

Technical sessions will cover IFRS S2 climate-related disclosures, climate risk governance, green finance opportunities, internal carbon pricing, and access to climate financing. Speakers will include climate risk specialist Rohan Cooray, Shiranee Yasaratne of Biodiversity Sri Lanka, and Suganthi Samarasinghe of UNDP Sri Lanka.

Organisers said climate readiness is increasingly becoming a business necessity rather than a sustainability option, with growing scrutiny from global markets and regulators.

Participation is free of charge, but prior registration is required due to limited seating for professionals in sustainability, governance, compliance, and risk management roles.

Business

SPAR Sri Lanka Opens New Outlet in Kurunegala

Published

24 hours ago

2026/06/7

Thilina Walpola

SPAR Sri Lanka has expanded its retail network with the opening of a new outlet in Kurunegala, marking another milestone in the supermarket chain’s growth across the country.

The new store, strategically located to serve the growing population of the North Western Province, offers a wide range of products, including fresh fruits and vegetables, premium meat products, bakery items, household essentials and both local and international brands.

The outlet also features several specialty sections, including a Coconut Corner, Wellness Corner and a dedicated area catering to pet care products.

Speaking at the opening, SPAR Sri Lanka Chief Executive Officer Kumar de Silva said the new outlet reflects the company’s commitment to delivering a “glocal” shopping experience by combining international retail standards with local customer preferences.

“Our Kurunegala outlet reflects our dedication to providing customers with the best range, superior quality and exceptional service under one roof,” he said.

The store also offers SPAR’s signature fresh food concepts, including in-store bakery products, ready-to-eat meals and freshly prepared juices aimed at meeting the needs of busy consumers.

The company said customers will benefit from a range of promotional offers, loyalty rewards, weekend deals and seasonal discounts.

SPAR Sri Lanka said the expansion would also contribute to local economic development through employment generation and support for local suppliers, further strengthening the country’s retail sector.

Pic and Text by SK Samaranayake

Business

Royal end title drought with dramatic shootout triumph

Published

24 hours ago

2026/06/7

Thilina Walpola

The victorious Royal College Under-20 hockey team pose with the championship trophy after emerging unbeaten champions of the All Island Under-20 Hockey Tournament at the Rajarata University Grounds in Mihintale. Front row (left to right): Ronal Edirimanne, Sulaiman Shihar, Gunitha Dissanayake, Dilsara Prabath, Kumuthulu Goonathilake, Savain Karunasiri, Vidu Wijesinghe, Seth Pathirathne, Pasindu Epa and Hirun Lindula. Back row (left to right): Stefan Anthonypillai, Geesath Bathisa, Haazim Dhailamy, Teacher-in-Charge Uditha Kumara, Coach Damith Panditharatne, Captain Aathif Faleel, Kithmina Rathnayake, Vice Captain Lithum Karunasiri, Nehan Wijayanayake, Yusuf Shihar, Ruvi Perera and Rumal Jayasinghe.

Royal College, Colombo, emerged unbeaten champions of the All-Island Under-20 Hockey Tournament after defeating defending champions St. Thomas’ College, Matale, in a nail-biting sudden-death penalty shootout at the Rajarata University Grounds in Mihintale last week.

The final ended in a 1-1 draw after Royal equalised five minutes from time to cancel out the Matale side’s earlier lead.

With the penalty shootout also ending in a 4-4 deadlock, the match proceeded to sudden death. The Reid Avenue outfit eventually prevailed in the second round of sudden-death penalties to clinch the title.

A brilliant save by goalkeeper Stefan Anthonipillai, who stretched to his right to deny a crucial attempt, and the decisive conversion by Rumal Jayasinghe helped Royal secure the Under-20 championship for the first time since the tournament’s inception in 2014.

Royal’s centre-forward Savain Karunasiri was one of the team’s standout performers throughout the tournament, scoring crucial goals, including strikes in both the semi-final and the final. Anthonipillai was equally impressive, guarding the goal superbly throughout the seven-match campaign.

Royal finished runners-up when the tournament was held in Matale last year.

The Colombo school produced a series of consistent performances despite having to play on an uneven grass surface that was not ideally suited to the fast-paced modern game.

Royal began their campaign with a 2-0 victory over Christ Church College, Matale, before defeating arch-rivals St. Thomas’ College, Mount Lavinia, 1-0. They then beat Kingswood College, Kandy, 2-0 and Maris Stella College, Negombo, 2-1 to top their group.

In the quarter-final, coach Damith Panditharatne’s side overcame fancied Dharmadutha College, Badulla, by 2-0.

Royal then edged out St. Joseph Vaz College, Wennappuwa, 1-0 in the semi-final, adopting a disciplined defensive approach against the aggressively attacking Puttalam outfit.

In the other semi-final, St. Thomas’ College, Matale defeated Trinity College, Kandy, 3-1. St. Joseph Vaz later beat Trinity 1-0 in the third-place playoff.

Panditharatne’s five-year development programme, with a strong emphasis on fitness, stamina and technical skills, played a key role in Royal’s success. The title marked Royal’s first national Under-20 tournament triumph since winning the National Schools Games in 2017.

A former national player, Air Force striker and Sri Lanka Police coach, Panditharatne has focused on addressing the weaknesses of individual players while building a cohesive unit. The former Christ Church College, Matale player has been coaching Royal since 2022 with the support of the Royal College Hockey Club (RCHC), comprising former Royal hockey players.

For his outstanding performances, Anthonipillai was adjudged the Best Goalkeeper of the Tournament. Royal College was also named the Most Disciplined Team of the Tournament.