Business

Dilmah Night of Plantation Veterans

Published

2 years ago

2023/12/24

Thilina Walpola

Jayantha, Anura and Vernon

By Anura Gunasekera

The elegant Dutch Burgher Union premises was the venue for the annual Planters’ Christmas Dinner, hosted by Dilmah, following a tradition set in place in 2017 by its patriarch, the late Merrill J Fernando. A man with a life-long passion for Pure Ceylon Tea, which contributed much to the success of Dilmah, the hosting of this gathering was his way of honouring the contribution to the industry made by the men, often conveniently forgotten in the celebration of balance sheets of companies brightened by attractive tea production statistics.

Malik, the late Merrill’s eldest, graciously welcomed the guests. Whilst thanking all planters, past and present, for their contribution to the industry, he also spoke of the enduring association between Ceylon Tea, its plantations, and the hospitality industry, emphasizing that the Dilmah, Tea Trails concept owed its success, in a very large measure, to that cherished link.

Whilst Merrill’s influence on the event was palpable, despite his absence, what was heart-warming was the active participation of Amrith and Tasha, the grand-children, ensuring that the tradition was safe in the hands of the new generation; their presence suggested a comforting sense of continuity and respect for a legacy left behind by grandfather, Merrill Fernando.

Malik & Himendra

Events of this nature, especially at this time of the year, generally conjure images of festive over-consumption but the Dilmah, annual planters’ Christmas Dinner has a meaning which goes beyond. It is another aspect of the Dilmah acknowledgement of the debt it owes to plantations and the planters who manage them, and to a great industry in general, also signified by the Dilmah sponsorship of the History of Ceylon Tea (HOCT) website. As Malik mentioned in his brief address to the gathering, the Dilmah, HOCT, is the largest, and the most comprehensive, single- industry website of its kind, in the world.

Worthy of mention is also the publication, ” Wisdom In The Leaf”, sponsored entirely by Dilmah – referred to by plantation specialist Dyan Seneviratne in his vote-of-thanks later- an all-inclusive and wide-ranging collation of practical planting knowledge, set out by some of the most competent practitioners of the profession. The consensus of opinion amongst the many industry specialists who took time and trouble to read the publication was that, whilst research findings on the subjects covered were available in many scholarly scientific journals, no single publication in recent decades addressed the practical application of scientific theory, at tea-field level, in such precise and useful detail.

The gathering itself was a thought-provoking blend of tradition, recognition and the sharing of experiences across the ages, the meeting of men from different generations, but united by an enduring commonality and an interconnectedness- the service of one great industry. There were nonagenarians like Saliya Atapattu and Vernon Tissera, octogenarians Bathiya Jayaratne, Jayantissa Ratwatte and Chula de Silva, men who entered the industry when the “Raj” ruled the enclave, being felicitated alongside later entrants, now in their seventies and sixties. Amongst men nurtured in a protocol driven professional milieu, the respect accorded to seniority was still a given, though. Space constraints do not permit the enumeration of all present by name, but the invitees were, without exception, men of calibre, who had rightfully earned the respect of both peers and successors in the industry.

Amrith & Tasha Fernando

Dyan Seneviratne, in his very fitting concluding address, paid tribute to the late Merrill Fernando, expressing regret at his demise and calling for remembrance, whilst rightly referring to him as the iconic man of the century. He also thanked Malik and Dilhan, the two sons, for loyalty to a tradition set in place by the father. Dyan echoed the sentiments of all those present and that of the plantation fraternity in general, in publicly acknowledging the continuing engagement of Dilmah with the producer segment of the industry, not simply by playing lip-service but actively demonstrating it in various meaningful ways.

Not forgotten by Dyan were team from Dilmah, for the excellent arrangements, and David Colin-Thome, curator of the Dilmah HOCT project. The night’s fare was a firm endorsement of the traditions and the high standards planters have been reputed for.

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Business

SpaceX IPO debuts in US markets, Musk becomes world’s first trillionaire

Published

10 hours ago

2026/06/13

Priyan

The Musk led company sold $75bn in shares before the market debut [Aljazeera]

SpaceX has debuted on US markets with a market valuation of more than $2 trillion, minting CEO Elon Musk as the world’s first trillionaire.

Shares opened on Friday at $150 per share, marking a 11 percent increase from the initial public offering (IPO) price of $135, valuing the company at $1.96 trillion and putting the aerospace company on track to become the sixth-largest company in the United States.

The stock surged 18 percent to $159 per share, up from the $135 it had been priced at, as the trading day came to a close.

Markets more broadly ticked higher amid a possible interim peace deal between the United States and Iran that could open the Strait of Hormuz. The Dow Jones Industrial Average is up 0.6 percent, the Nasdaq is up 0.2 percent, and the S&P 500 is up 0.35 percent as trading wraps up for the week.

The company sold $75bn in shares, immediately valuing it at $1.77 trillion. The IPO was oversubscribed four times higher than was otherwise expected, according to the Reuters news agency.

Of the institutional investors allocated, according to Bloomberg News, as much as 70 percent went to what are called long-only investments — a strategy in which holders buy assets based on the expectation that their value will grow over time — and sovereign wealth funds, including those from Saudi Arabia and Kuwait as well.

SpaceX President Gwynne Shotwell and Chief Financial Officer Bret Johnsen rang the opening bell at Nasdaq MarketSite in New York City at 9:30am local time as US markets opened.

On Thursday, protesters gathered outside the MarketSite to protest the IPO amid continued allegations that Grok, part of xAI, a subsidiary of SpaceX, allowed users to create non-consensual deepfake sexualised images before the IPO debut.

Shares of SpaceX did not trade until the middle of the trading day as the exchange collected buy and sell orders and underwriters delayed trading until supply and demand were balanced.

“We would expect SpaceX to see an immediate pop in trading due to the hype around the deal, north of 20 percent perhaps,” said Samuel Kerr, global head of equity capital markets at Mergermarket. “Anything lower would actually make me nervous.”

Exchanges and trading firms are eager to avoid the technical mishaps that marred Meta’s 2012 debut. With SpaceX widely viewed as a dress rehearsal for a new generation of mega-listings, market participants will also be watching for signals on investor appetite in advance of forthcoming IPOs for AI heavyweights Anthropic and OpenAI.

The landmark listing cemented Musk’s status as the first trillionaire ever and propelled SpaceX into the ranks of the world’s most valuable companies — even though the firm posted a loss of nearly $5bn last year and generated only a fraction of the revenue brought in by similarly valued tech giants.

The surge comes amid growth driven by its Starlink subsidiary, which drives as much as 80 percent of its revenue.

On Friday, SpaceX launched its Falcon 9 rocket with 29 satellites into space from Cape Canaveral in Florida.

[Aljazeera]

Business

Indo-Lanka Chamber hosts dialogue on Sri Lanka’s investment future

Published

13 hours ago

2026/06/13

Thilina Walpola

Interactive session with Aritha Wickramasinghe

The Indo-Lanka Chamber of Commerce & Industry (ILCCI), affiliated to The Ceylon Chamber of Commerce, hosted an interactive session on Sri Lanka’s Investment Future: Policy, Opportunity & Growth at Jetwing Colombo Seven. The session was attended by Dr. Satyanjal Pandey as Chief Guest, while Aritha Wickramasinghe delivered the keynote address in his capacity as Chief of Staff to the Office of the Presidential Special Envoy on Foreign Investment, Hanif Yusoof.

ILCCI President M. Raghuraman, in his remarks, expressed appreciation to Dr. Pandey for his service during his tenure in Sri Lanka and underscored the timeliness and importance of the session topic in the context of the current global economic and geopolitical climate.

Addressing the gathering, Dr. Pandey observed that in a period marked by geopolitical and economic turbulence – reliability, trustworthiness, and secure supply chains have become increasingly important. He also highlighted the strong and growing economic partnership between India and Sri Lanka, noting several significant Indian investments in Sri Lanka, including those by ITC Limited and CEAT Limited, while indicating that further investments are expected in the future.

As a representative of the state, Aritha Wickramasinghe stated that it is the responsibility of the government to ensure that, even amid global turbulence, Sri Lanka remains stable in its policy direction, credible in its economic management, and consistent in its engagement with investors. He also emphasised the opportunities available to the Sri Lankan economy through deeper engagement with India’s fast-growing economy, noting that while India and Sri Lanka are neighbours, the relationship is regarded as one of family rather than mere proximity.

The session which included a highly engaging and interactive Q&A session with the audience, concluded with a productive exchange of views between the distinguished guests, speakers and participants, reaffirming the importance of continued dialogue and collaboration in strengthening investment and economic ties between Sri Lanka and India.

Business

Australia and Sri Lanka strengthen maritime security partnership

Published

13 hours ago

2026/06/13

Thilina Walpola

The Australian Border Force and Sri Lanka Coast Guard have launched Disi Rela 2026, marking the third consecutive year of the joint maritime security initiative aimed at strengthening maritime surveillance, operational capability, and public awareness across Sri Lanka’s coastal regions.

This year, Disi Rela 2026 expands its community engagement and public awareness activities to Sri Lanka’s Eastern Province, following successful activations conducted in the Western and Southern Provinces in previous years.

Meaning “keeping a watchful eye over the maritime environment,” Disi Rela reflects the continued partnership between Australia and Sri Lanka to strengthen maritime security, combat transnational maritime crime, and promote safer seas across the region. Through intelligence sharing, operational cooperation, advanced equipment support, and public awareness initiatives, both countries continue to work together to address threats including people smuggling, drug trafficking, illegal fishing, and other unlawful maritime activities.

Over the past three years, the Australian Government has supported Sri Lanka’s maritime security efforts under the Disi Rela initiative through the donation of 24 surveillance drones, three all-terrain vehicles (ATVs), three Stabicraft patrol vessels, and the establishment of a dedicated 24/7 hotline number — 106.

Further strengthening Sri Lanka Coast Guard’s operational capability, the Australian Government will donate an additional five all-terrain vehicles (ATVs) under Disi Rela 2026 to support coastal surveillance and rapid response operations.

In reflecting upon the continued partnership and shared commitment of both nations to safeguard Sri Lanka’s maritime boundaries and coastal communities, the Director General of the Sri Lanka Coast Guard,