Business

Jetwing and MMBL Pathfinder in a Premier Houseboat Joint venture

Published

5 years ago

2021/08/8

Cruising the placid waters of the Bentara River, Yathra Houseboat by Jetwing is a pioneering hospitality venture by one of the country’s best known hospitality brands – Jetwing Hotels and MMBL-Pathfinder which teamed with Jetwing on a Jaffna star-class hotel.

Inspired by the Kettuvallam, the wooden-hulled, thatched houseboats ferrying tourists along the rivers of Kerala, Yathra shares its concept with “padda” boats used in olden Sri Lanka to transport goods along the country’s river system, a news released on the joint venture said.

“Designed by renowned environmental architect Sunela Jayewardene and building on Jetwing’s commitment to eco-luxury, the Houseboat provides elegant accommodation and modern amenities in its two cabins, replete with a rustic teak, bamboo and timber ambiance and en-suite bathrooms complete with a rain shower and bathtub,” the release said.

“Aboard Yathra Houseboat by Jetwing, you will find spacious air-conditioned living quarters and an open-air lounge, which invites you to let your hair down and watch the serene, tranquil environment of the Bentara River and its stunning aquatic birdlife. The deck, comfortably seats six to eight guests, also serves as your picturesque dining space to enjoy a starlit dinner, with meals prepared using the finest ingredients including freshly caught prawns and crabs, or afternoon tea under a glorious sunset.

“Adding to the appeal of the Houseboat, it is located just three kilometres away from the beaches of the Bentota Tourist Resort, while Lunuganga – Geoffrey Bawa’s iconic riverside home – is just around the corner. Once the planned relocation of Yathra Housboat to Horawala is realized, tours will take nature lovers all the way up to Avittewa and beyond, a journey that covers approximately 18 km from Bentota,” it added.

The release said that despite the setbacks brought on by the global pandemic, Jetwing and MMBL-Pathfinder remain optimistic about the future of tourism in the island and the enchanting allure of this riverine hospitality experience, which is currently popular with domestic travellers, particularly honeymooners.

With the easing of travel restrictions and the pick-up of global travel, the associates aboard this unique home of true Sri Lankan hospitality look forward to welcoming travellers from across the world to the serene backwaters of the Bentara River, the JV partners said.

“Family owned and in the tourism industry for the past 48 years, Jetwing Hotels has surpassed expectation at every aspect. Building on their foundation of being passionate, as well as the experience of true, traditional Sri Lankan hospitality, constantly pioneering discoveries captures the essence of the brand. Such a strong statement and direction have enabled Jetwing Hotels to imagine, create and manage marvels and masterpieces, where distinctive design and elegant comfort complement each other and the environment,” the release said.

“In line with the Jetwing Hotels Sustainable Strategy, across all properties sustainable and responsible practices are given precedence with resource efficiency, community upliftment and education, and awareness being some of our key focus areas.”

MMBL-Pathfinder is a privately held investment group with an investment portfolio that spans a broad range of sectors. It has a wide international network, which facilitates forming strategic alliances with global brands and leading local companies, the release said.

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Business

ADB approves $100 million loan to boost skills development and jobs for youth in Sri Lanka

Published

4 hours ago

2026/10/2

Thilina Walpola

The Asian Development Bank (ADB) has approved a $100 million results-based loan to help Sri Lanka transform its technical and vocational education and training (TVET) system, equip more young people with industry-relevant skills, and strengthen the country’s competitiveness and inclusive growth.

The Skills Development System Transformation Program will support the Government of Sri Lanka’s efforts in improving the quality and relevance of skills training, strengthening links between training providers and industries, and expanding employment opportunities for youth. The program will increase women’s employment opportunities in nontraditional jobs in fields including automotive technology, engineering, information and communications technology, construction, and renewable energy.

“A skilled workforce is essential to Sri Lanka’s long-term economic transformation and competitiveness,” said ADB Country Director for Sri Lanka Shannon Cowlin. “This program will help create stronger pathways from education to employment by making training more responsive to industry needs, expanding opportunities for young people and women, and ensuring that graduates have the skills required by a modern and evolving economy.”

Though Sri Lanka’s economy is recovering, it faces skills shortages in priority sectors, high youth unemployment, and low female labor force participation. Many employers report difficulty finding workers with the skills needed in a changing economy.

Aligned with the Government of Sri Lanka’s Technical and Vocational Education and Training Sector Strategic Framework 2026–2035, the nationwide program will be implemented from 2027 to 2031 and is expected to directly benefit more than 100,000 young people through improved access to quality, employment-oriented training.

Business

USD 40.84m pipeline to secure aviation fuel supplies to BIA

Published

4 hours ago

2026/10/2

Thilina Walpola

By Ifham Nizam

The government has cleared a USD 40.84 million and Rs. 8,548.75 million contract to build a dedicated aviation fuel pipeline from Muthurajawela to Bandaranaike International Airport (BIA), alongside a massive new fuel storage facility with a capacity of 92,000 cubic metres.

Energy Minister Anura Karunatilaka said the project represented a major investment in strengthening the infrastructure underpinning Sri Lanka’s aviation fuel supply and ensuring more reliable fuel availability at the country’s main international airport.

‘This project will provide the infrastructure required to strengthen the reliability and continuity of aviation fuel supplies to Bandaranaike International Airport, Karunatilaka said.

The contract has been awarded to China Petroleum Pipeline Engineering Company Limited, following an international competitive procurement process in which three bids were received.

The project will see a new aviation fuel storage tank complex constructed at Muthurajawela, together with the associated infrastructure required for handling and transferring aviation fuel.

Business

CSE activity up, turnover weak at Rs. 1.4 billion

Published

4 hours ago

2026/10/2

Thilina Walpola

By Hiran H Senewiratne

Trading activity on the Colombo Stock Exchange (CSE) gathered pace yesterday as global fuel prices began to show signs of easing, according to market analysts.In this context, both indices moved upwards. All Share Price Index up by 67.97 points while S and P SL20 up by 8.30 points.

Turnover stood at Rs 1.4 billion with seven crossings. Those crossings were reported in Sampath Bank 1.7 million shares crossed to the tune of Rs 238 million and its share price traded at Rs 140, Access Engineering two million shares crossed to the tune of Rs 159 million and its share price traded at Rs 79.50, LOLC one million shares crossed to the tune of Rs 129 million and its share price traded at Rs 129, HNB 100,000 shares crossed to the tune of Rs 38.4 million and its share price traded at Rs 384, JKH 1.9 million shares crossed to the tune of Rs 35 million and its share price traded at Rs 18.60, Hayleys 100,000 shares crossed to the tune of Rs 22.50 million and its share price traded at Rs 225 and Richard Pieris 847,000 shares crossed to the tune of Rs 22 million and its share price traded at Rs 25.50.

In the retail market top seven companies that have mainly contributed to the turnover were Sampath Bank Rs 114 million (813,000 shares traded), JKH Rs 100 million (5.3 million shares traded) LB Finance Rs 49 million (325,000 shares traded), HNB Finance Rs 30 million (27 million shares traded), HNB Rs 27 million (70000 shares traded), NTB Rs 25 million (82000 shares traded ) and Lanka IOC Rs 21 million (666,000 shares traded). During the day 65 million shares volumes changed hands in 10433 transactions.

The Banking and manufacturing sector counters performed well. In the banking sector Sampath Bank let the market while manufacturing sector especially JKH also significantly performed well. With the fuel revision Land IOC also a significant stock at the floor.

Meanwhile, First Capital Treasuries said that Ramesh Schaffter resigned as a Non-Independent Non-Executive Director with effect from October 1, to facilitate the restructuring of the company’s board.

Yesterday the Central Bank announced the US Dollar rate as against rupee. The rupee was quoted flat at Rs 330.65/80 to the US dollar in the spot market , while bond yields dropped, dealers said.