Business
Commonwealth scholars from Sri Lanka receive a warm welcome

The British Council hosted a networking event to welcome the recent batch of Sri Lankan Commonwealth Scholars returning from the UK recently. Commonwealth Scholarships are offered to citizens and permanent residents of a Commonwealth country with a record of academic achievement and the potential to make a positive impact in their home country.
The 2021/2022 cohort of scholars spanned a gamut of subject areas including International Commercial Law, Public Policy, Wild Animal Health, Translation Studies, Exercise Science and Physical Rehabilitation (with a special interest in rehabilitation after amputation) and Economics.
The event was held in Colombo with the attendance of Sarah Hulton, the British High Commissioner for Sri Lanka and Maldives; Orlando Edwards, Country Director, British Council, Sri Lanka; officials from the Ministry of Education (Higher Education section), Commonwealth Scholars from Sri Lanka over the years and British Council staff.
“Since its inception, almost 1,100 Sri Lankans out of a total of over 30,000 global scholars have received the opportunity to study in prestigious universities in the UK under the Commonwealth scholarship scheme, demonstrating the strength of UK and Sri Lankan ties,” said Orlando Edwards, Country Director, British Council, Sri Lanka.
“Out of these scholars, many have gone on to achieve great things. Alumni include prime ministers, cabinet ministers, Nobel Prize winners, academics, diplomats, writers and leaders in major NGOs and businesses. In that respect, Sri Lanka also excels – previous alumni have achieved the highest status in their chosen fields in Sri Lanka. Returning scholars have gone on to be a Central Bank Governor, Bank Chairpersons, Vice Chancellors of universities, Chair of the University Grants Commission and much more,” noted Edwards speaking at the event.
The 2022 returnees shared their experiences as scholars, speaking candidly about their application process, choice of subject, learnings at university, and their experiences studying in the UK. Many spoke about the new knowledge and specialisations they received in their varied subjects and shared their short term and long term plans about how they hope to apply their new learnings. The event culminated with plans for future alumni activities and a vibrant networking session.
Commonwealth Scholarships are funded by the UK’s Foreign, Commonwealth and Development Office (FCDO). They are offered under six development themes: Science and technology for development, strengthening health systems and capacity, promoting global prosperity, strengthening global peace, security and governance, strengthening resilience and response to crises and access, inclusion and opportunity. While there is no restriction to subject choice, the Commonwealth Scholarship Commission gives priority to applicants whose studies are most relevant to their development criteria.
Commonwealth scholars are a part of a global alumni community of over 30,000 individuals who have advanced social change and made their mark in fields such as healthcare, marine conservation, technology and more.
The Commonwealth Scholarship scheme is aimed at talented students from across the Commonwealth who would not otherwise be able to afford to study in the UK. Sri Lankans can avail of a series of scholarships from the Commonwealth Foundations including PhD Scholarships, Split-site Scholarships, Master’s Scholarships, Shared Scholarships, Distance Learning Scholarships, Medical Fellowships and Professional Fellowships.
Business
Cabinet nod to celebrate centenary of Tea Research Institute from 9th November to 14th November 2025

The Cabinet of Ministers has approved the proposal presented by the Minister of Plantation and Community Infrastructure Facilities to hold the 26th Session of the Intergovernmental Group on Tea of the Food and Agriculture Organization of the United Nations and the 4th Annual Meeting of the Asian Tea Alliance to commemorate the Centenary Anniversary of the Tea Research Institute in Colombo from 9th November to 14th November in 2025 and to take necessary steps in that respect.
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.
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