Business

‘Finding myself in nine generations of family history’

Published

2 months ago

2026/01/13

Sahan Weerasooriya

Dr. Nirmala M. Pieris

A review of Nirmala M. Pieris’s The Abeyesundere Family of Galle

Reading about one’s family history can feel like standing face to face with the forces that quietly shape our lives. Our values, temperaments, and ways of seeing the world are inherited and absorbed long before we are conscious of them. When I sat down with Dr. Nirmala M. Pieris’s The Abeyesundere Family of Galle: A Family History of Nine Generations, I felt hopeful and excited. While I had an inkling of my background through stories shared by my late grandmother, Eileen Abeyesundere, I realised I actually knew very little. This book not only filled those gaps but also exceeded my expectations.

I met Nirmala at her home to collect my copies, and that visit alone felt like stepping gently into a piece of history. Her awe-inspiring walauwwa-style manor, lined with ancestral portraits, reflected a deep love for heritage and sentimentality. Standing there, it was easy to understand what might inspire someone to undertake the task of documenting nine generations of family history.

As I read, the sheer effort behind the book became increasingly evident. Nirmala has gone to great lengths in her research, drawing from archives, oral histories, and repeated visits to libraries, institutions, and even cemeteries. Her writing is structured, analytical, and precise, with claims carefully cross-referenced across multiple sources. Just as importantly, she is refreshingly transparent about gaps in the historical record, clearly acknowledging where connections could not be made. I was particularly fascinated by her exploration of how the Abeyesundere name itself evolved over time.

This book feels especially significant today. As families expand, histories and their essence are easily lost. Ironically, while so much of modern life is digitally recorded, much of it is fleeting, easily skimmed, and quickly forgotten. A content-rich book like this is a keepsake, something to return to across generations. It serves as a grounding anchor — a reminder of one’s roots in an increasingly fast-evolving world.

Beyond family lineage, the book thoughtfully situates the Abeyesunderes within Sri Lanka’s broader political, cultural, and socio-economic landscape. Shifting industries, entrepreneurial ventures, and emerging opportunities are woven into the narrative, showing how each generation adapted to changing circumstances. In doing so, the book appeals as much to readers interested in history as it does to those connected to the family.

I was especially moved by reading about places once familiar to me, such as Fred’s Rhue estates, where I walked as a child collecting rubber seeds and listening to foxes howl at night. Reading about Villa Lucilla, the ancestral home of my grandparents, Eileen and Joe Abeyesundere, in the heart of Galle, was equally poignant. Though I never lived there, the book allowed me to reconstruct what life within those walls might once have been like.

Despite the depth of factual analysis, the book is remarkably readable. Nirmala balances rigorous research with quirky, cheeky, and heart-warming anecdotes, complemented by evocative photographs that bring people and places to life. A detailed index further adds to the book’s thoughtfulness and usability.

On a personal level, the book prompted more than one quiet “aha” moment. Certain traits I recognise in myself, even a lifelong, slightly puzzling attraction to horses, began to make sense. Being an only child, it was unexpectedly touching to learn that I shared this distinction with the earliest documented ancestor, my great-great-great-grandfather, Pemyano William Abeyesundere. As I step into my transformational middle years, this book feels perfectly timed. It has given me not only knowledge, but perspective — a steadier sense of belonging, and the quiet reassurance that understanding where we come from can profoundly shape how we move forward.

By Trevina Abeyesundere

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Business

Middle East tensions may hit tourism and energy sectors

Published

4 hours ago

2026/03/17

Sahan Weerasooriya

Tourists admiring nature’s abundance in Sri Lanka.

Escalating geopolitical tensions in the Middle East involving Iran are beginning to raise concerns here, with analysts warning that the fallout could affect not only the island’s tourism industry but also its energy sector.

Tourism stakeholders say the first signs of a slowdown in visitor arrivals have begun to emerge as airlines and travel operators adjust to disruptions across key Middle Eastern aviation corridors.

According to Harsha Suriyapperuma, Chairman of the Sri Lanka Tourism Development Authority, the current tensions could temporarily influence travel flows mainly due to disruptions affecting major transit hubs in the Gulf region.

A significant share of travellers heading to Sri Lanka from Europe and other long-haul destinations transit through aviation hubs such as Dubai, Doha and Abu Dhabi.

Industry analysts say that when geopolitical tensions escalate in the Middle East, airlines often revise flight paths, cancel services or adjust schedules due to security concerns and airspace restrictions, which can slow tourism flows to destinations like Sri Lanka.

According to a Tourism industry leader, global travel demand is highly sensitive to geopolitical developments affecting major aviation corridors.

He noted that disruptions to Middle Eastern airspace could result in longer travel routes, higher airline operating costs and increased airfares, which may influence the travel decisions of tourists planning long-haul holidays.

At the same time, economists and energy analysts warn that the conflict could also create ripple effects in global energy markets.

Sri Lanka is heavily dependent on imported fuel, and any instability in the Middle East — particularly involving a major oil producer like Iran — could push global crude oil prices upward.

Energy sector sources said rising oil prices would increase the cost of fuel imports and place additional pressure on the country’s foreign exchange reserves.

Higher global oil prices could also raise operational costs in the power generation sector, particularly for thermal power plants operated by the Ceylon Electricity Board, which relies on fuel and coal imports to meet electricity demand.

Analysts say increased fuel costs could eventually translate into higher electricity generation costs and additional financial pressure on the national power utility.

The tourism sector had entered 2026 on a strong recovery trajectory after attracting more than two million visitors last year, with authorities targeting three million arrivals this year.

However, industry experts caution that prolonged geopolitical instability in the Middle East could slow the momentum of Sri Lanka’s tourism recovery while simultaneously creating new challenges for the country’s energy sector.

Despite these emerging risks, officials remain cautiously optimistic that the impact will be temporary if tensions in the region stabilise in the coming weeks.

They stress that Sri Lanka continues to be viewed internationally as a safe and attractive destination, while authorities are closely monitoring developments in global energy markets and aviation networks.

By Ifham Nizam

Business

NDB raises Sri Lanka’s largest Basel III-Compliant Thematic Bond

Published

4 hours ago

2026/03/17

Sahan Weerasooriya

Kelum Edirisinghe - Director, Chief Executive Officer

National Development Bank PLC (NDB/ the Bank) recently announced that it successfully raised LKR 16.0 billion through the issuance of Basel III-compliant Tier II Rated Unsecured Subordinated Redeemable GSS+ Bonds (the GSS+ Bonds), to be listed on the Colombo Stock Exchange (CSE). This issuance marks a major milestone in thematic fundraising within Sri Lanka’s capital markets landscape, signaling the country’s growing progress in the increasingly important segment of sustainable finance.

The GSS+ Bonds issue opened on 10 March 2026 and was oversubscribed within the same day, demonstrating strong demand from both retail and institutional investors. This response reaffirms the confidence investors place in NDB and its overall financial strength and stability. The issuance of the GSS+ Bonds reflects the Bank’s strong environmental and social considerations embedded in its lending practices. For many years, NDB has maintained a robust Environmental and Social Management System (ESMS) ensuring that funds are directed toward environmentally and socially responsible projects and causes.

NDB’s GSS+ Bonds will be deployed to finance eligible Green (including Blue), Social, Sustainability, and Sustainability-Linked projects, supporting environmentally responsible, socially impactful, and sustainable economic development.

Business

HNB General Insurance fastest in reaching LKR 11 Bn. revenue (GWP) within 10 years of operations

Published

4 hours ago

2026/03/17

Sahan Weerasooriya

Stuart Chapman - Chairman / Sithumina Jayasundara –CEO

HNB General Insurance Limited (HNBGI) announced its financial results for the year ended 31 December 2025, marking a milestone year of accelerated growth, strengthened financial resilience, and sustained business momentum.

The Company recorded a Gross Written Premium (GWP) of LKR 11.0 billion for 2025, reflecting a robust 21% growth compared to LKR 9.1 billion in 2024. This performance significantly outpaced the industry’s growth of 15%, demonstrating the Company’s strong competitive positioning, disciplined execution, and continued customer confidence. With this achievement, HNBGI becomes the first general insurer in Sri Lanka to reach the LKR 11 billion GWP milestone within ten years of operations. The Company also improved its market position, moving up to 6th place from 7th in Sri Lanka’s general insurance sector.

The Fire segment emerged as a standout contributor with a 27% growth, reaching LKR 2.4 billion, while the Motor portfolio grew by 25% to LKR 6.0 billion. Marine recorded a steady 16% increase to LKR 378 million, and the Miscellaneous segment contributed LKR 2.2 billion. The broad-based growth across segments reflects HNB General Insurance’s balanced portfolio, effective distribution reach, and strong customer confidence.

The Company demonstrated its unwavering commitment to customers through timely and efficient claims management, committing LKR 2.5 billion towards Ditwa cyclone-related claims. In addition, a further LKR 4.7 billion was paid in claims across all other segments during the year, underscoring the Company’s financial strength and reliability in times of need.

The Company’s financial strength further consolidated during the year, with Total Assets growing by a significant 31% to LKR 13.38 billion, while Funds Under Management increased by 9% to LKR 6.74 billion. The Capital Adequacy Ratio remained well above regulatory requirements at 190%, reflecting a solid capital base to support future growth.