Business

HUMAN – ELEPHANT PEACE:

Published

3 years ago

2022/11/13

‘Ali Pancha’ a Landmark Project

A Memorandum of Understanding was signed by the Chief Executive Officer of the Hambantota International Port Group (HIPG), Mr Johnson Liu, and the President of the Wildlife & Nature Protection Society (WNPS), Mr Jehan CanagaRetna, mid-October to launch the ‘Ali Pancha’ Project – a way to help the transition from Human – Elephant Conflict (HEC) to Human – Elephant Peace. The broad aims of the Project are as follows:

The annual sponsoring of 25 orphaned elephants at the Elephant Transit Home (ETH) at Uda Walawe to provide them with their essential nutrition for healthy development.The sponsoring of a research project to understand the varieties of antibiotics that work safely, and effectively, in the treatment of orphaned elephants.

The provision of six (6) ‘Smart Collars’ for elephants selected for release back into the wild. Their movements will be monitored via VHF frequencies and GPS Systems to understand their range of roaming and behaviour, and to scientifically evaluate and understand how they integrate into the wild.

Conduct Education & Awareness Programmes for a minimum of 200 farmers in the Hambantota District, in partnership with Farmer Societies and Government Institutions, and

Install five (5) of the WNPS’s Light Repel Systems (LRSs) in selected locations in the Hambantota District to protect these farmers’ homes and cultivations from incursions by elephants.The WNPS has the responsibility of coordinating these objectives to ensure that they are achieved, and within the time frames set out in the Agreement.

ANOTHER VITAL PARTNER

For the success of this project, the cooperation of the Department of Wildlife Conservation (DWC) is essential, especially for the Veterinary Surgeons and other officers of the ETH. It is they who must provide the technical and scientific inputs, and research, necessary for the initiatives with the orphan elephants. Dr Vijitha Perera, the Senior Veterinary Surgeon at the ETH will lead this project on behalf of the DWC, ably assisted by Dr Malaka Abeywardana who was present at the Project Launch.

In the course of its 128 year history as the 3rd oldest conservation organisation in the World, the WNPS counts its active involvement in the setting up of the DWC with great pride. During this long history, the WNPS has worked with the DWC on several projects, and greatly looks forward to this renewed partnership.

ENLIGHTENED THINKING

The CEO of HIPG, Mr Liu, in his address to the gathering had this to say:

“As a leading development project situated in this area, which is also home to a variety of wildlife, especially an Elephant population, we have a major challenge of facilitating development with minimal impact to nature and other life forms. This reflects our commitment to supporting Sustainable Development Goals of protecting life on land and life underwater while achieving our business objectives. This is integrated in our ESG framework under the “Care for the Planet” focus area, and we now give our fullest support to minimize Human – Elephant Conflict which is an essential need of this area.

Under the “Human Elephant Peace Project”…our newest addition is the “Save Ali Pancha (elephant)” Project with the WNPS in collaboration with the ETH with a grant of USD 102,487.00…”

As a part of the sponsorship is for the collaring of selected animals from the identified herds to track their movements and formulate a strategy as to how this could be done with the knowledge of science. At present, there are elephants who visit the Port, mainly at night, and though they have not caused any damage to its buildings or harmed any of the employees, HIPG is understandably anxious that no damage is done to its valuable cargo that is stored in its yards.

As Mr CanagaRetna explained in his address, Sri Lanka’s wild populations of elephants share approximately 44% of its landscape with people. While development is essential for the country, it must be planned development and HIPG is demonstrating a good example of this, by placing care for the elephants, and other wildlife, alongside those of the necessary future Port development. CanagaRetna continued by saying that the future of our wildlife and conservation depends on humans. With all the destruction along with global warming and climate change, we must do our utmost to protect what we have. HIPG along with the partnership with WNPS is trying to plug a deep ravine in our country when it comes to our elephants. Sri Lanka has the highest Human Elephant Conflict in the world. Therefore, it is heartening to see Corporates such as HIPG stepping up to do their part for our country’s wildlife.

FROM CONFLICT TO PEACE

The elephant is an important part of the culture and religions of Sri Lanka. It is also important for conservation, for as a Keystone Species, the health of all the forests and its other denizens depend on them. Healthy forests lend to clean air and water, essential for human existence. We are all connected.

In addition, the wild elephant is an important source of revenue for this country, attracting foreign visitors who wish to see these magnificent animals in their wild surroundings. This leads to the financial enrichment of those communities that have elephants, and other wildlife, as their neighbours. As such, it is hoped that this landmark project will prove an inspiration to other ‘developers’ too, and enable the transition from ‘Conflict’ to ‘Peace’, and the saving of valuable lives.

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Business

New policy framework for stock market deposits seen as a boon for companies

Published

23 hours ago

2026/01/14

Sahan Weerasooriya

Eardly Kern: ‘CSE experiencing strong revival

The government’s new policy framework to allocate a maximum interest rate for stock market deposits would pave the way for companies and investors to plan their future business activities, a senior stockbroker said.

‘Accordingly, the Colombo Stock Exchange (CSE) has entered a period of strong revival, supported by economic stabilization and rising investor confidence while significant market reforms would support the new policy framework on interest, Assistant Vice President Softlogic Stockbrokers, Eardly Kern, told The Island Financial Review.

He said that the imposition of maximum interest rates for stock market deposits would prevent the interest rates from moving upwards, thus paving the way for investors to invest in stocks with a lot of confidence.

Kern added: ‘The CSE outlook would provide expanding opportunities for investors as Sri Lanka positions itself for market-led investor platforms.

‘Improving macro fundamentals, such as lower interest rates, rising corporate earnings and historically attractive valuations, have been key catalysts in driving investment into the equities market.

‘These tailwinds, together with ongoing economic reforms, have helped re-establish confidence among both local and foreign investors.

‘Over the past two years, the number of CDS accounts has surpassed 949,000, with digital on-boarding through the CSE mobile app driving the latest surge.

‘Further, foreign inflows for 2024 amounted to USD 66.5 million, while Rs 175 billion was raised through capital market activity, including 16 new listings. With a target of 20 IPOs on the horizon, the CSE anticipates several new companies entering the market by early 2026.

‘The All Share Price Index (ASPI) delivered an impressive 49.7 percent return in 2024, ranking the CSE as the second-best performing market in Asia for the year. By November 2025, the index had risen a further 45.65 percent amounting to an extraordinary two-year return of approximately 95 percent.

‘The S&P SL20 Index recorded a parallel recovery, gaining 58.5 percent in 2024 and 31.84 percent so far in 2025.

‘ Despite the rally, the CSE continues to trade below its 10-year average PER and valuations remain significantly more attractive than in regional markets, such as, India, Malaysia, Vietnam, and China.

‘ Turnover has surged to Rs 1.06 trillion in 2025 (as of mid-November), nearly doubling the figure recorded in 2024. Market capitalization grew 34 percent n 2024, despite only around 40,000 active investors capturing most of the gains—highlighting the potential for broader participation.

‘ Corporate earnings have also strengthened markedly. After generating Rs 686 billion in earnings during 2024—a 50% year-on-year increase—listed entities are projected to deliver between Rs 775–800 billion in 2025. Earnings for the first half of 2025 have already grown 57 percent year-on-year.’

By Hiran H Senewiratne

Business

Dialog reinforces commitment to heritage through Kelaniya Duruthu Festival

Published

23 hours ago

2026/01/14

Sahan Weerasooriya

Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, has reinforced its enduring commitment to preserving national culture by sponsoring the Kelaniya Duruthu Festival, aligning long standing patronage with purposeful community engagement to honour religious heritage, support cultural continuity, and strengthen shared values.

The annual Kelaniya Duruthu Festival, one of Sri Lanka’s most significant religious and cultural observances, was held on 8th, 9th and 11th January 2026, marking a congregation of thousands of devotees and visitors at the historic Kelaniya Raja Maha Vihara. As a long-term patron, Dialog continues to provide sponsorship support, enabling the seamless organisation of the festival while uplifting traditions deeply rooted in the nation’s cultural identity.

Through its continued support of the Kelaniya Duruthu Festival, Dialog underscores its role as a responsible corporate citizen dedicated to safeguarding Sri Lanka’s cultural and religious heritage for future generations. This commitment is further reflected in Dialog’s long-term patronage of national events such as the Kandy Esala Perahara, Nawam Maha Perahara at Gangaramaya, Katharagama Esala Perahara and Gatabaru Esala Perahara. Complementing these efforts, Dialog has also undertaken heritage preservation initiatives including the construction of the vestibule at Dimbulagala Aranya Senasanaya, the launch of a website and directory of Amarapura Maha Nikaya Temples, and the restoration of the Anuradhapura Maha Vihara Sannipatha Shalawa.

Business

Sri Lanka launches its first-ever Smart Bus Ticketing System

Published

23 hours ago

2026/01/14

Sahan Weerasooriya

Advancing public transport with digital bus ticketing — CBA, in partnership with SLTB and Nimbus Venture.

A National Breakthrough in Public Transport Digitalization Powered by Ceylon Business Appliances with Nimbus Ventures.

Sri Lanka has taken a historic step forward with the launch of its first Smart Bus Ticketing System, enabling passengers to pay fares using contactless cards, digital wallets, and QR payments. This advancement places the country among global leaders in smart mobility.

The initiative was made possible through collaboration with the Government of Sri Lanka, leading banking partners, and the technology leadership of Ceylon Business Appliances (CBA) and Nimbus Ventures, who serve as the Technology, Software, Hardware, and Operational Partners behind the nation’s first Open Loop Transit Payment System.

For decades, CBA has been at the forefront of Sri Lanka’s digital transformation efforts—bringing modern, global-standard technologies that have strengthened the nation’s digital infrastructure.

Speaking to the media at the launch, Sardha Fernando, Managing Director of CBA, stated:

“This is not just a ticketing upgrade—it is a complete digital evolution of public transport in Sri Lanka. For years, CBA has been committed to introducing advanced technologies to the country, and today, we are proud to bring a globally recognized, secure, and seamless smart transit solution to our people. With every tap, we are enabling convenience, transparency, and a more connected future for all Sri Lankans.”

He added:

“This milestone reflects our ongoing mission: to help build a digitally empowered Sri Lanka that is ready to embrace the technologies shaping the world.”

‘Ruwath Fernando, CEO/Director of CBA, highlighted:

“This project demonstrates that Sri Lanka is ready to adopt and operate on par with global smart mobility technologies. Our commitment has always been to bring the world’s best software systems and innovations into Sri Lanka—solutions that are secure, scalable, and built to international standards.”

He continued:

“By introducing a state-of-the-art open-loop transit payment platform, we are proving that Sri Lanka can not only embrace but also successfully operate advanced digital ecosystems. This is a defining moment in positioning the country as a technology-proof nation prepared to trial and adopt global digital advancements.”

CBA extends heartfelt congratulations to the banking partners who trusted this vision—

Sampath Bank, Commercial Bank, Bank of Ceylon, People’s Bank, and DFCC Bank— on the successful launch of their new ticketing application.

This application integrates seamlessly with the PAX A910S ticketing device, powered by a robust CBA– Nimbus ventures software solution, engineered for scale, reliability, and national deployment..