Business

John Keells Foundation celebrates 20 years of empowering the nation for tomorrow

Published

1 year ago

2025/04/30

John Keells Foundation (JKF), the Corporate Social Responsibility (CSR) entity of the John Keells Group, marked its 20th anniversary with a special event on 25th April 2025 for its key stakeholders representing the Government, non-government, private and academia sectors, UN and INGO/NGO agencies and community-based organisations. Since its establishment on 28th March 2005, JKF has been a driving force in fostering sustainable growth and empowering communities across Sri Lanka.

“As one of the first corporate CSR entities in Sri Lanka, John Keells Foundation has led the way in championing impactful, sustainable initiatives under our vision of ‘Empowering the Nation for Tomorrow’, aligned with national priorities, the Sustainable Development Goals, and the Principles of the United Nations Global Compact,” said Krishan Balendra, Chairperson of the John Keells Group. “Over the years, the Foundation has remained committed to long-term initiatives that support communities in need, impacting the lives of over 9 million individuals. Within the Foundation’s empowerment culture, the focus has been less about handouts and donations, but more on providing the skills and the motivation to empower our communities to improve their lives. In Ranala, for instance, a women’s society around our Elephant House factory was provided training in producing paper-based products, while in Hikkaduwa, in partnership with Hikka Tranz by Cinnamon, we have upskilled local artisans in batik production. What is most encouraging is how much our own businesses have embraced sustained community empowerment — how it has become part of our DNA over the past couple of decades.”

JKF drives its vision through four strategic focus areas — Education, Community & Livelihoods, Social Health & Cohesion, and Biodiversity – that guide the transformative social empowerment initiatives within the Group’s overall ESG framework. Flagship initiatives such as the John Keells English Language Scholarship Programme, Project WAVE (Working Against Violence through Education), John Keells Vision Project, Cinnamon Rainforest Restoration, Kala Pola, the Village Adoption Project and John Keells Praja Shakthi stand as powerful testaments to JKF’s commitment to inclusive, transformative and sustainable development.

In her welcome address, Carmeline Jayasuriya, the Group’s Head of CSR said, “As the Foundation celebrates this milestone, we cannot do so without reference to all those who have been closely associated with this journey. Our success can be widely attributed to two strong support bases, the passionate volunteers across the Group and the wide array of partner organisations and individuals who have collaborated with us over the years.” She went on to note, “John Keells was visionary in initiating the set up of a dedicated CSR entity as early as 2003.

Today, the Foundation hosts a portfolio of over 30 projects – mid-long term – across 4 focus areas, reflecting the diversity of businesses within the Group. The golden thread running through all these projects is our vision of `Empowering the Nation for Tomorrow’. Considering the many ebbs and flows Sri Lanka has seen through during this time, including the end of the 30-year conflict as well as crises such as the Tsunami, COVID pandemic and economic downturn, the Group was well placed to strategise, undertake and sustain critical social development endeavours through JKF. I am honoured to have been part of JKF’s journey, seeing it evolve over the years to espouse and meaningfully contribute to national needs and priorities specifically through a culture of empowerment.”

In a testament to its impact, Prof. Niles Perera, Head of the Department of Transport Management & Logistics Engineering, University of Moratuwa shared, that the Department has enjoyed a 19-year partnership with the John Keells Group and was grateful for that collaboration. As both a beneficiary of John Keells Foundation’s efforts and now a collaborator, he commended the vision under education— “empowering employability and entrepreneurship” — saying these goals have been meaningfully achieved at the University of Moratuwa through the various initiatives such as need and merit based scholarships, the English Language immersion camp, and opportunities for mentorship and placement offered to undergraduates under this partnership.

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Business

Commercial Bank extends its operations to Port City Colombo

Published

6 mins ago

2026/06/8

Thilina Walpola

The Commercial Bank branch at Port City Colombo.

Commercial Bank of Ceylon PLC’s new branch in Port City Colombo is poised to bring world-class banking services to Sri Lanka’s emerging international financial hub.

Located at Building 04 in Area 02 of the Port City Business Centre – Commercial Hub, Commercial Bank’s Port City Colombo branch will function as a fully-fledged banking operation, strengthening the Bank’s presence in one of Sri Lanka’s most strategically significant emerging economic zones. Designed to serve the evolving financial requirements of corporates, investors, businesses, professionals and retail customers within the Port City Colombo ecosystem, the branch offers access to Commercial Bank’s comprehensive portfolio of financial solutions. These include current and savings accounts, fixed deposits, personal and business lending, housing and leasing facilities, credit and debit card services, inward and outward remittances, foreign currency accounts and transactions, trade finance solutions, import and export services, corporate banking, treasury and foreign exchange services, cash management solutions and digital banking facilities.

By combining full-service branch banking with digital capabilities and uninterrupted self-service access, the new branch reflects Commercial Bank’s commitment to delivering future-ready, accessible and internationally aligned financial services in support of Port City Colombo’s growth as a dynamic hub for commerce, investment and innovation.

Business

Credit card interest rates to increase from July 1

Published

6 mins ago

2026/06/8

Thilina Walpola

Following the recent decision by the Monetary Policy Board of the Central Bank of Sri Lanka to raise the Overnight Policy Rate by 100 basis points, a corresponding increase in market interest rates has been reported.

In line with this shift, several banks have already taken steps to increase the interest rates charged on credit cards. Banks have begun notifying their customers that the annual interest rate for credit cards will rise from the current 26% to 28%, effective from July 1st.

This rate hike comes at a time when credit card usage is on the rise. According to the Central Bank of Sri Lanka, the total number of active credit cards in the country stood at 2,166,186 at the end of 2025. By the end of the first quarter of 2026, this number had grown to 2,215,853 cards.

The latest data also highlights a significant increase in consumer debt. The total outstanding balance on credit cards was Rs. 189,706 million as of December 31, 2025. By March 31, 2026, this figure had climbed to Rs. 194,105 million, reflecting a growing reliance on credit despite the looming interest rate adjustments.

Business

Peterson Solutions Sri Lanka opens new corporate office at Orion City

Published

6 mins ago

2026/06/8

Thilina Walpola

Iwan Rutjens, Deputy Head of Mission of the Embassy of the Kingdom of the Netherlands

ESG performance, and supply chain resilience

Peterson Solutions Sri Lanka, the consultancy and advisory arm of the globally recognized Peterson and Control Union Group, officially opened its new corporate office at Orion City, Colombo, on June 5, 2026. The event marked a significant milestone in the company’s growth journey and its long-term commitment to supporting businesses across Sri Lanka and the wider region.

The inauguration ceremony was attended by distinguished guests, including Iwan Rutjens, Deputy Head of Mission of the Embassy of the Kingdom of the Netherlands in Sri Lanka, who officiated the ribbon-cutting. Representatives from the European Union, UNIDO, Market Development Facility Australia, industry partners, and clients were also present.

Peterson Solutions draws on a century-old legacy dating back to 1920. The parent group operates in over 80 countries, undertakes projects in more than 120 countries, and serves over 40,000 clients through a network of 6,500 professionals. The company helps organizations navigate complex challenges in sustainability, compliance, sourcing, certification, and technology. Its service portfolio includes certification support, sustainable sourcing, ESG services, digital solutions, training through Peterson Academy, and international crop consultancy via Delphy.

The company serves a wide range of industries, including agriculture, food and beverage, textiles, fisheries, tourism, manufacturing, IT, logistics, and export sectors. Across Asia-Pacific, Peterson Solutions operates 14 regional offices, covering markets such as India, Vietnam, Thailand, Indonesia, Japan, China, Australia, and Singapore.

In Sri Lanka, Peterson Solutions began operations in 2023 from a smaller office in Colombo 03. Within just a few years, it has become a trusted partner to over 170 local clients, while also supporting projects in the Maldives, Cambodia, and Myanmar. The move to Orion City reflects continued growth, team expansion, and rising demand for value-added services, including crop consultancy, sustainable agriculture, digital sustainability management, and professional training.

Key clients include Barista, Pelwatte Dairy, Ethimale Plantations, Sysco LABS, INSEE Ecocycle, Ceylon Tobacco Company, Prima, and Ansell. Company representatives noted that the new office symbolizes a broader vision of helping businesses respond to evolving market expectations, regulatory obligations, and technological transformation. As organizations increasingly focus on responsible growth, ESG performance, and supply chain resilience, Peterson Solutions remains committed to being a trusted partner that turns compliance into competitiveness and strategy into measurable impact.