Business
George Steuart & Co turns 190 this year
From colonial beginnings to global aspirations, a story of resilience, growth and community impact
George Steuart & Co Ltd., Sri Lanka’s oldest mercantile establishment celebrates its 190th anniversary in 2025 – an extraordinary milestone for Sri Lanka. To mark this historic moment, the George Steuart Group has planned a series of community focussed activities in line with its values encompassing its seven sectors, culminating on its Founder’s Day on 14th August 2025.
The legacy of the company goes back to Captain James Steuart who initiated business as Merchant Bankers in 1835. By 1860, with the advent of his brothers George and Joseph, the business evolved to an Agency House that managed coffee plantations. Their commercial endeavours were intertwined with serving the needs of the community. This spirit is best captured in the Will of the founder James Steuart who bequeathed his vast fortune of land and money to the Bishop of Colombo by way of a Trust.
Over almost two centuries, George Steuart has witnessed local and global challenges including world wars, civil wars, terrorism, insurgencies, tsunamis, pandemics, socio-political uprisings and economic turbulence. Some challenges, however, have been unique to the legacy of the company. In 1870, Ceylon’s coffee plantations were destroyed by blight. This major setback prompted George Steuart to be at the forefront of the country’s transformation from coffee to tea, earning a reputation as “the original Ceylon tea people”. A century later, the company faced a bigger impediment, when plantations were nationalised in 1975 with no compensation for loss of business to the Agency Houses. At this time, the company had the largest acreage under its Agency, which was its Principal line of business. Thus, George Steuart earnestly began diversification into new lines of business. Another major setback occurred in January 1996, when the company’s iconic head office building on Janadipathi Mawatha was ravaged by a terrorist bomb targeting the Central Bank. The damage was extensive, including the heart-breaking loss of lives. The company’s strength of character was demonstrated by its Travel Arm that operated out of decentralised offices and successfully organised an infamous turnaround charter flight on Sri Lankan Airlines for the ICC Cricket World Cup Final within two months of the tragedy.
Today George Steuart & Co. stands as the genesis of Sri Lanka’s private sector. It was one of the founding members of the Ceylon Chamber of Commerce, 185 years ago. Duminda Hulangamuwa, Chairman of the Ceylon Chamber of Commerce commenting on this milestone, said “The story of George Steuart is a historical monument of how colonial commerce in Ceylon evolved to become the corporate Sri Lanka of today. Its journey of 190 years stands as a testament to the incredible resilience and adaptability of the Sri Lankan private sector.”
Business
Indra Traders launches Athwela Programme in partnership with Bank of Ceylon
Indra Traders recently introduced a special programme titled “Athwela” in collaboration with the Bank of Ceylon (BOC).
The programme was designed with a primary focus on customer convenience, aiming to provide essential support by simplifying the financial challenges often associated with vehicle purchasing and servicing. This initiative is regarded as a further strengthening of the trust and relationships Indra Traders has built over its decades of service excellence.
The partner for this program, the Bank of Ceylon (BOC), is Sri Lanka’s largest state bank and a premier financial institution. It offers an extensive island-wide branch network, exceptional customer service, and some of the most competitive interest rates in the market.
Speaking at the event, Rushanka Silva, Managing Director of Indra Traders, said: “Today is a very special day for us. As Indra Traders, a company engaged in business for over five decades, it is a great honor to enter into the ‘Athwela’ agreement with Sri Lanka’s largest bank. Through this program, we are working to provide various financial and service facilities, including leasing. As a company that imports everything from the smallest to the largest vehicles, we provide customers the opportunity to purchase any vehicle they need through our six yards located across the island. Even if a specific vehicle is not in our current stock, we are prepared to import it according to the customer’s requirement. I invite all customers to join hands with ‘Athwela’.”
Y. A. Jayathilaka, General Manager of Bank of Ceylon, added “At a time when restrictions on vehicle imports have been relaxed, it is a great pleasure for Bank of Ceylon, the strongest bank in the country, to partner with Indra Traders – a company with over 50 years of trusted history. Our goal is to provide a comprehensive and convenient service to leasing customers across the island by combining BOC’s extensive branch network with Indra Traders’ expertise.”
Business
Launch of new Beijing-Colombo air link announced in China
The Sri Lankan Embassy in Beijing together with Beijing Capital Airlines last week organized a destination promotion event and announced the launch the Capital Airlines direct flights from Beijing to Colombo.
While congratulating Beijing Capital Airlines for expanding the connectivity between Beijing and Colombo, the Sri Lanka Ambassador Majintha Jayesinghe highlighted the longstanding bilateral relations between the two countries and the significance of strengthening connectivity in line with the Joint Statement issued following the meeting in January 2025 between President Xi Jinping and President Anura Kumara Disanayaka, a news release from the embassy said.
The President of the Beijing Capital Airlines Liu Jun expressed appreciation and stated that the new route is an important milestone in expanding the airline’s South Asian network while strengthening the Air Silk Route. He also highlighted that this is the only direct flight connecting Northern China with Sri Lanka and a key Capital-to-Capital air link, it added.
There was no word about the flight frequency and when the service will begin.
Ambassador Jayesinghe reiterated that Sri Lanka is more than a holiday destination and is positioned as an exotic, experienced-rich, year-round travel destination offering warm and pleasant weather. He emphasized that Sri Lanka, as a stand-alone destination, provides a blend of rich history, eight UNESCO heritage sites, diverse landscapes, pristine beaches, dense forests, and scenic mountains, inviting Chinese travellers to explore and enjoy Sri Lanka.
The commencement of the Beijing – Colombo route will contribute to the social and economic development of both countries. The Beijing- Colombo service has filled a longstanding gap in the aviation market and will further promote the economic, trade, cultural and tourism development, while offering more convenient travel options, the news release said.
Business
SLT-MOBITEL and Fintelex empower farmers with the launch of Yaya Agro App
SLT-MOBITEL Mobile, in collaboration with Fintelex (Pvt) Ltd, has launched ‘Yaya Agro’, an exclusive all-in-one smart agriculture app designed to empower Sri Lankan farmers with the tools they need to grow smarter, safer, and more sustainably.
Yaya Agro represents a new era of digital farming in Sri Lanka combining technology, expert knowledge, and community empowerment to provide farmers the confidence to make smarter decisions, improve productivity, and build a sustainable future.
Developed with support from GIZ and Hatch and validated by leading academic and professional institutions including the University of Colombo, Institute for Agrotechnology and Rural Sciences, and the Sri Lanka Red Cross Society, Yaya Agro combines agricultural expertise, real-time weather updates, first aid support, and AI-powered assistance into a single, easy-to-use platform.
The launch of Yaya Agro positions SLT-MOBITEL as an innovative, inclusive, and collaborative technology leader. Partnering technology and academic institutions, the company extends its role outside the sector into agriculture, empowering farmers with AI-driven tools, multilingual access, and market connectivity. The initiative also strengthens SLT-MOBITEL’s image as a champion of digital empowerment and sustainable development in Sri Lanka.
Functioning as a comprehensive digital companion, Yaya Agro is positioned as a digital farming companion, bringing precision agriculture, real-time support, and market access to the fingertips of every Sri Lankan farmer.
Whether managing a small home garden or a large commercial farm, the app equips farmers with vital insights to improve crop yield, reduce risks, and connect directly with buyers through the integrated online marketplace.
Yaya Agro offers farmers daily crop information with expert tips on management, pest control, and best practices, all validated by the University of Colombo. It provides accurate, location-based weather forecasts to help plan farming activities more effectively. The app also delivers life-saving first aid tutorials and safety information verified by the Sri Lanka Red Cross Society, ensuring farmers are prepared for emergencies. With the AI chatbot assistant, farmers can access instant, personalized advice around the clock, with smart notifications delivering timely alerts and reminders tailored to crop cycles.
To make learning inclusive and accessible, Yaya Agro is available in Sinhala, Tamil, and English, offering interactive educational content such as videos, voice guides, and infographics. The app also integrates an online marketplace, developed in partnership with GIZ and Hatch, enabling farmers to connect directly with buyers and expand their reach.
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