Connect with us

Business

Hayleys Fabric scores with organic, eco-friendly dye

Published

on

Waste from furniture industry used to extract dye

Hayleys Fabric’s ‘WARNA by Mahogany’, the natural dye innovation behind a new line of organic, eco-friendly fabric, was listed among the Top 10 global innovations at the ISPO Textrends Spring/Summer 2024.. a company news release said.

“As one of the first Sri Lankan eco-friendly fabric innovations to be featured on ISPO Textrends– a leading German platform and melting pot for the world’s most innovative, high-performance fabrics – the breakthrough recognition for WARNA by Mahogany is expected to further elevate Sri Lanka’s reputation as a global pioneer in specialised, sustainable, circular fabric sourcing for the sports apparel sector,” it said.

WARNA by Mahogany, a pioneering waste-to-fashion initiative, was developed by Hayleys Fabric’s Head of Sustainable Innovation Leonie Vaas, by extracting the dye in-house using waste material generated by the local furniture industry.

“In the past, the fashion and textile industry has mainly focused on optimising usage of synthetic dyes.

However, with the rise of environmentally-conscious consumers, the demand for natural dyes and recycled materials in fabric has increased significantly. We have taken every measure possible to make our textile manufacturing process sustainable, and WARNA is a testament to this commitment,” Hayleys Fabric Managing Director/CEO Rohan Goonetilleke said.

“We are delighted to have been recognised for our efforts and to have showcased Sri Lankan ingenuity on an international platform, among the most innovative sustainable trends in the world,” he further stated.

The Mahogany dye has been tested to ensure that it is on par with internationally accepted standards and is free of hazardous chemicals, making it safer for the wearer, the environment and those involved in the manufacturing process. The exclusive mahogany dye is rich in hues, offering 16 hybrid dye colours across different fabric compositions (100% cotton, 100% polyester and poly-cotton blend), the release said.

A single impact lifecycle assessment was conducted to identify and analyse the impact on climate change, with the results showing a 36% positive impact on the environment in comparison to the usage of synthetic dyes. The leftover is collected and directly used in fertiliser manufacturing to sustain circularity.

“Hayleys Fabric is also working with other natural dye suppliers to develop a new range of environmentally-friendly products for the market through its INNO brand, which aims to commercialise environmentally friendly, functional, fashionable, value-added fabrics for use in apparel products in markets around the globe,” the release added.

Hayleys Fabric PLC is a pioneer in textiles manufacturing in Sri Lanka, capable of delivering end-to-end solutions from design to manufacture, and was the first apparel sector company to be listed on the Colombo Stock Exchange in 2003. The Hayleys Fabric Group has a production capacity of over 6 million meters of cotton and synthetic fabric per month and has the largest manufacturing capacity in Sri Lanka. The company is a leading partner to globally renowned fashion and apparel brands.



Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

DFCC Bank and Ceylon Chamber of Commerce forge strategic partnership

Published

on

(L-R) Buwanekabahu Perera, CEO of The Ceylon Chamber of Commerce, Duminda Hulangamuwa, Chairman of The Ceylon Chamber of Commerce, Thimal Perera, Director/CEO of DFCC Bank, Shamindra Marcelline, Deputy CEO of DFCC Bank.

DFCC Bank PLC has entered a partnership with The Ceylon Chamber of Commerce, to formally integrate Ceylon Chamber-led macroeconomic and sectoral intelligence into its service model. This strategic collaboration is set to enhance both internal expertise and client-facing value, reinforcing DFCC Bank’s position as the most insight-driven and customer-aligned bank in the country.

By harnessing the Ceylon Chamber’s deep research capabilities, DFCC Bank will gain privileged access to quarterly macroeconomic outlooks, sector-specific insights, and dynamic market intelligence. These deliverables will inform decision-making across the organisation—from strategy formulation to client advisory—ensuring DFCC Bank teams remain ahead of the curve in responding to economic developments and customer needs.

Through this partnership, the Ceylon Chamber will provide briefings on key economic indicators such as GDP performance, inflation trends, policy shifts, and global economic movements, alongside industry analyses tailored to DFCC Bank’s client sectors. These insights will not only serve internal capability-building but also enhance client conversations—offering DFCC Bank customers access to curated intelligence through strategic reviews and presentations.

Thimal Perera, CEO of DFCC Bank, commented:

“As we sharpen our focus on delivering value beyond banking, this collaboration with the Ceylon Chamber of Commerce gives us and our clients a distinct advantage. Timely economic insights and sector intelligence will strengthen the relevance and depth of our engagements – enabling us to support customers with more informed, responsive financial solutions that align with the realities they face.”

Buwanekabahu Perera, Secretary General and CEO of the Ceylon Chamber stated:

“Our goal is to take economic intelligence beyond boardrooms and make it practical and actionable for businesses. Partnering with DFCC Bank allows us to do exactly that, by ensuring that insights translate into better advice, faster decisions, and stronger outcomes for businesses.”

The official signing of the Memorandum of Understanding took place on 12 June 2025, symbolising a shared vision for smarter financial ecosystems in Sri Lanka.

Continue Reading

Business

Spring board to ‘unleashing a new era in start-up driven growth’

Published

on

Key participants at the prelude to Disrupt Asia 2025.

In an impassioned call to action, Deputy Minister of Industry and Entrepreneurship Development, Chathuranga Abeysinghe, declared that Sri Lanka was ready to “unleash a new era of startup-driven growth, as he kicked off the prelude to Disrupt Asia 2025 — a four-day mega-event that aspires to redefine the nation’s digital economy and transform it into South Asia’s next innovation hub.

“We are no longer waiting for the future. We are building it, right here, starting now, said Abeysinghe. “With Disrupt Asia, we aim to place Sri Lanka firmly on the map as a gateway to South Asia, the Gulf, and Southeast Asia for global investors, innovators and disruptors.”

Scheduled to run from September 17–20 in Colombo, Disrupt Asia 2025 is more than just another tech event. Backed by the Ministry of Digital Economy and the ICT Agency (ICTA), the platform is being positioned as the national accelerator for startups and innovation—bringing together universities, industry leaders, policymakers, investors, and the general public into one unified ecosystem.

The event is anchored in Sri Lanka’s broader ambition to grow its digital economy from a current estimated transaction volume of USD 3–5 billion to USD 15 billion by 2030. To achieve this, the government is rolling out a multi-pronged strategy: a USD 50 million Fund of Funds to boost venture capital availability, the creation of a Virtual Special Economic Zone (SEZ) and new equity pathways for startups through the Colombo Stock Exchange.

Deputy Minister Abeysinghe noted that the government was working with financial advisory firm KPMG to address longstanding taxation and regulatory hurdles, including the double taxation of venture capital funds and limited frameworks for foreign co-founders.

“These policies are no longer in the shadows, he stressed. “They are being debated, fixed and aligned so that startups can thrive in a globally competitive landscape.”

Heminda Jayaweera, Executive Director at TRACE Sri Lanka, the ecosystem partner and host of the Innovation Festival on September 19, called the event “a confluence of creativity, code, and capital.”

TRACE Expert City will host more than 50 interactive product demos, themed exhibitions spanning HealthTech, AgriTech, FinTech, AI, Tourism, and GovTech, and immersive installations aimed at both the general public and young innovators.

Jayaweera emphasized the importance of creating an “incubation ground” that serves not just the tech elite, but also students, small-town entrepreneurs, and policymakers. “This is where ideas collide and evolve,” he said. “It’s where we disrupt the status quo.”

Sandun Hapugoda, Country Manager of Mastercard Sri Lanka and Maldives, added a private sector perspective to the conversation. “This is not just another tech expo, he said. “It’s a serious commitment to transform Sri Lanka into a digitally inclusive, investor-attractive economy.”

Mastercard’s participation as a strategic partner underscores the importance of collaboration in achieving these goals. “Innovation doesn’t happen in silos, Hapugoda noted. “We are working with entrepreneurs, policymakers, and financiers to build scalable solutions.”

Mastercard’s support extends to FinTech integrations, digital commerce enablement, and cybersecurity solutions — all crucial building blocks for a vibrant digital economy.

Prajeeth Balasubramaniam, Managing Partner at BOV Capital and founder of LAN, said the platform was already working to secure listings for at least two promising startups on the Colombo Stock Exchange. “Equity is not a foreign concept. We’re just late adopters. But now, we’re building the runway, he said.

Disrupt Asia 2025 will also host a “Sundowner Cultural Showcase” that celebrates Sri Lanka’s creative and artisanal identity. Featuring curated culinary offerings from Asaya Sands, gem exhibitions, and artisanal tastings, the event aims to build a bridge between innovation and tradition.

“This is more than a networking mixer, said event curator Ruwani Fernando. “It’s a statement. Sri Lanka is a land of both ancient wisdom and future-focused solutions.”

By Ifham Nizam

Continue Reading

Business

Sampath Bank pioneers SL’s standardised API banking platform, redefining transaction banking

Published

on

Sanjaya Gunawardane, Chief Strategy Officer

Sampath Bank has set a new milestone as the first bank in Sri Lanka to launch a standardised Application Programming Interface (API) platform. This revolutionary move redefines corporate banking by simplifying and automating intricate financial processes for businesses of all sizes, reflecting the Bank’s steadfast commitment to providing agile, technology-driven solutions for its expanding base of corporate and SME clients.

API banking fundamentally transforms traditional banking by exposing core functions and data as web services accessible to third-party applications. This approach creates a more interconnected and flexible ecosystem that enhances convenience, encourages innovation and improves efficiency in delivering and consuming financial services.

The new platform empowers businesses to seamlessly integrate Sampath Bank’s core banking capabilities into their internal Enterprise Resource Planning (ERP) systems. This integration supports faster supplier payments, streamlined collections, real-time balance inquiries and trade-related transactions, while maintaining established approval chains and audit controls inherent in corporate systems.

Driven by a deep understanding of digitalisation’s transformative potential, the development of this platform aims to empower corporate decision-makers by saving time and increasing visibility across financial operations. As Mr. Sanjaya Gunawardane, Chief Strategy Officer at Sampath Bank, explains, “There is no longer a need to spend hours managing physical payments or manually reconciling bank records. This platform empowers businesses, enabling them to configure, validate and execute transactions securely through a single interface. Our goal was to deliver an end-to-end solution that not only boosts efficiency but also transforms the overall banking experience. This is part of our ongoing commitment to introducing cutting-edge technologies to reshape the Sri Lankan business landscape.”

Addressing a critical challenge in financial supply chain management, this innovation offers companies a suite of ready-to-integrate APIs, automated testing tools and rapid onboarding processes that make it possible to go live within days rather than weeks.

Continue Reading

Trending