Business
Cargills Food City opens its 500th outlet, affirms its commitment to revitalise local economy

* Sources fresh fruits and vegetables from a network of over 5,000 farmers
* Contributes over 14% of the national milk production
* Expanding network generates thousands of livelihood opportunities
by Sanath Nanayakkare
The home-grown Sri Lankan brand, Cargills Food City, marked another milestone yesterday with the opening of its 500th retail outlet in Akuregoda, Pelawatte.
The unveiling of the large retail outlet was attended by Central Bank Governor Dr. Nandalal Weerasinghe (chief guest), Deputy Chairman of Cargills Group, Ranjit Page and a host of distinguished guests representing both public and private sectors.
Notably, a book illustrating the Company’s bold and dynamic 39-year journey was presented to the Central Bank Governor at the event.
By benchmarking itself against international supermarkets, Cargills FoodCity has set the bar high for others that follow in its footsteps, while its success served to attract more investors into the sector.
Being present in all 25 districts, Cargills Food City has introduced the supermarket experience to all Sri Lankans, beyond urban and beyond elite class.
To date, Cargills is the only supermarket to operate in the North and East being a sustenance for all Sri Lankans, offering the lowest prices in the country.
Cargills Early Childhood Education Programme has positively impacted over 8,000 children, giving them a stable foundation for their future.
The company recently stepped up its humanitarian efforts with their Community Meals Programme initiated in partnership with the Lasallian Community Education Services. This programme has already delivered over 3,300 nourishing meals to people in underprivileged urban areas.
Cargills Food City has encouraged entrepreneurship across the country by showcasing local brands, many of whom have up-scaled their businesses and are confident about the company’s backing. The Company has supported many small and medium enterprises and has helped them create new categories with innovations.
It ensures that the freshest and most hygienic products adhere to the highest quality benchmarks. Through this strategy, Cargills Food City has been able to support SMEs, which are the backbone of the economy.
A World Bank study also revealed that farmers working in the Cargills supply chain receive a higher price for their efforts, leading to its customers receiving a lower price. The Gates’ Foundation also declared Cargills’ value proposition being a model worth emulating, shining a light on efforts on a global scale.
Today, Cargills is the single largest collector of fresh produce, sourcing fresh fruits and vegetables from a network of over 5,000 farmers and contributes over 4% of the national production in fruits and vegetables – a percentage that continues to grow. It is also the largest collector of fresh milk in Sri Lanka and contributes over 14% of the national milk production. The company is also a leading contributor to the livestock, poultry and animal husbandry sectors.
This outlet expansion has extended direct and indirect employment to hundreds of youth and exposed employees from all districts across the country to good practices in food and nutrition.
Business
‘This must be your last IMF Programme; lapses cannot be repeated’

IMF First Deputy Managing Director tells Sri Lanka
Sri Lanka’s long and difficult journey from economic collapse to cautious recovery reached a critical milestone as President Anura Kumara Dissanayake, IMF First Deputy Managing Director, Dr. Gita Gopinath, and Central Bank Governor Dr. Nandalal Weerasinghe addressed the high-profile “Sri Lanka’s Road to Recovery: Debt and Governance” conference yesterday in Colombo.
The event, jointly organized by the Central Bank of Sri Lanka (CBSL), the Ministry of Finance and the International Monetary Fund (IMF), underscored the urgency of sustaining reform momentum while opening a new chapter in the country’s 75-year partnership with the IMF.
With macroeconomic stability returning but fragility still looming, the message from all three leaders was clear: Sri Lanka cannot afford to backslide.
“This must be the last IMF programme for Sri Lanka, Dr. Gopinath stated firmly in her keynote speech. “We’ve had 16 before this—about half ended prematurely. Reform fatigue, policy reversals and lost discipline cannot be repeated. This time must be different.”
While the conference primarily focused on public financial management, debt sustainability, and governance, the implications for Sri Lanka’s business environment were unmistakable. According to Gopinath, structural reforms, transparent fiscal management and improved governance are not abstract policy ideals — they are the essential foundations for restoring investor confidence, revitalizing private enterprise and building a resilient economy.
“Comprehensive governance reform can raise GDP by over 7% and reduce debt-to-GDP by more than six percentage points over the next decade, Gopinath noted, citing IMF internal analysis. “These are not just theoretical benefits — they are real, measurable returns for the private sector, job creation, and inclusive growth.”
Dr. Weerasinghe echoed this sentiment, stating that the IMF-supported programme “has laid the groundwork for macroeconomic fundamentals essential for sustained growth. He emphasized that Sri Lanka’s financial institutions and monetary authorities are now better equipped to support private sector-led recovery, pointing to a stabilizing rupee, single-digit inflation and restored investor interest.
“With improved credit ratings and Sri Lankan bonds being re-included in global indices, capital markets are beginning to show signs of life, said Dr. Weerasinghe. “This creates a platform for increased foreign direct investment (FDI), trade expansion, and domestic entrepreneurial activity.”
President Dissanayake opened the conference with a stark reminder of the human cost of Sri Lanka’s economic collapse. He called for economic leadership that not only addresses balance sheets but also rights wrongs of the past.
“We lost three critical things — one in our economy, two in our country, and three in our people, he said. “We must recover what was lost. And we can only do that through trust, transparency and inclusive policies.”
Dissanayake acknowledged the sacrifices made by the public — especially the most vulnerable — and emphasized that public buy-in is essential to the success of reform. “The people of this country have already shown their willingness to endure hardship in service of recovery. It is now the responsibility of government and institutions to ensure that their sacrifices are not in vain.”
His words carried weight in a country where memories of fuel queues, food shortages and economic despair remain fresh. The President signaled his administration’s commitment to a social contract grounded in accountability and economic fairness.
Gopinath noted that:
USD 3 billion in external debt was forgiven.
USD 25 billion was restructured with longer maturities and lower interest rates.
External debt servicing was reduced by half over the next decade.
Debt-to-GDP ratios are expected to fall by 27 to 34 percentage points.
“Sri Lanka’s experience has helped us sharpen how we approach debt sustainability, creditor coordination and domestic financial sector resilience, said Gopinath. “It’s a case study in how complex, painful, but ultimately successful restructuring can be done.”
By Ifham Nizam
Business
Nestlé Golden Chefs’ Hat Competition 2025 recognizes Sri Lanka’s top culinary talent

Nestlé Professional Sri Lanka, in partnership with the Chefs Guild of Lanka, relaunched the Nestlé Golden Chefs’ Hat Competition this year – an island wide culinary competition focused on developing up-and-coming culinary talent in the hospitality industry.
Nestlé Professional also collaborated with the Sri Lanka Hospitality Graduates Association and Chefs Guild of Lanka to launch the Junior Nestlé Golden Chefs’ Hat Competition for the very first time – providing culinary students in the hospitality industry with a platform to showcase their talents and skills, while fostering the next generation of culinary experts.
The regional rounds, held across all nine provinces of the country, brought together 18 finalists from both the Professional category and the newly introduced Junior category, to compete in the Grand Finale at the Culinary Art Food Expo.
The winners of the Nestlé Golden Chefs’ Hat Competition 2025 were awarded at an event held on 15th June at Cinnamon Grand Colombo, with the participation of distinguished guests – Chief Guest, Her Excellency the Ambassador of Switzerland to Sri Lanka and Maldives, Dr. Siri Walt; Head of Nestlé Professional Strategic Business Unit, Nestlé S.A., Reinhold Jakobi; Regional Business Head – Nestlé Professional, Nestlé Asia, Oceania and Africa Region, Jeroen Pluijmers; Director – Nestlé Professional, Nestlé South Asia Region, . Saurabh Makhija; Chairman of the Chefs Guild of Lanka, Chef Gerard Mendis and President of the Sri Lanka Hospitality Graduates Association, Patrick Pereira.
Mr. Bernie Stefan, Managing Director of Nestlé Lanka commented “The hospitality industry plays a vital role in supporting the transition from stability to growth in the Sri Lankan economy. Nestlé Lanka is honoured to play a part in uplifting the industry through the Nestlé Golden Chefs’ Hat Competition. This initiative also embodies our Nestlé Needs YOUth initiative, which is dedicated towards empowering and upskilling the youth to excel in their field of expertise and contribute to the community”.
H.E. Dr. Siri Walt, Ambassador of Switzerland to Sri Lanka and Maldives mentioned “I congratulate Nestlé Professional, the Chefs Guild of Lanka and the Sri Lanka Hospitality Graduates Association on this wonderful initiative to promote culinary talent.
Business
Activ8 Asia balances AI with nature through GPT (Go Plant a Tree)

In celebration of World Environment Day 2025, Activ8 Asia, in collaboration with the Colombo Municipal Council (CMC), launched an inspiring green initiative titled Project GPT – Go Plant a Tree. The campaign was a city-wide call to action to counterbalance the environmental footprint of artificial intelligence through a simple, tangible act: planting trees.
The initiative saw teams planting a range of rare and biodiversity-rich flora across 11 prominent locations in Colombo, including Viharamahadevi Park, from SLT Head Office to Lake House, and near the BMICH. These spaces, chosen for their cultural, civic, and environmental significance, now serve as living reminders of the need to harmonize technology and nature. “Project GPT is our way of balancing innovation with responsibility — a gesture to give back to the planet as we move forward in the digital age. At Activ8 Asia, we use AI tools like ChatGPT daily as part of our creative workflow. But with every typed prompt, we know there’s an unseen cost — data centers that power AI models consume vast amounts of energy and water,” said a Managing Director, Wazeel Nizar from Activ8 Asia.
Project GPT was not just about planting trees — it became a platform to ignite critical conversations around digital sustainability. Through leaflet distribution, interactive signage, and a targeted social media campaign, the initiative engaged the public with compelling insights into the environmental toll of emerging technologies.
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