Business
NCE draws President AKD’s attention to his pledge of ridding SL of corruption and waste
A critical factor for the success of the new government will be the fulfillment of key election promises, especially the eradication of corruption and waste, which have long hindered the country’s economic and administrative systems, the National Chamber of Exporters (NCE) states in a congratulatory note to President Anura Kumara Dissanayake on his assuming office as the President of Sri Lanka.
‘As we celebrate this transition, we must also acknowledge the significant challenges ahead. Sri Lanka faces severe financial constraints, particularly in meeting its debt repayment obligations. Balancing these commitments while fostering economic growth will require steady leadership and innovative solutions, the NCE congratulatory message adds.
The press release: ‘The National Chamber of Exporters (NCE) extends its sincere congratulations to Mr. Anura Kumara Dissanayake on his historic victory as the newly elected President of Sri Lanka. This decisive mandate reflects the trust and confidence the people have placed in his leadership to guide the country forward.
‘We also take this opportunity to express our deepest gratitude to the outgoing President, Mr. Ranil Wickremesinghe, whose exceptional leadership steered the country through one of its most challenging periods. Under his stewardship, Sri Lanka experienced a remarkable economic recovery, particularly during a time when the nation was on the brink of collapse. His efforts to stabilize the country and lay the groundwork for recovery will be remembered as a key chapter in our nation’s history.
‘We further recognize and appreciate Mr. Sajith Premadasa for his steadfast role as Leader of the Opposition, providing essential checks and balances to the government. His leadership has been instrumental in safeguarding the democratic values of the country.
‘The NCE expresses its gratitude to the people of Sri Lanka for conducting a peaceful election, once again demonstrating the resilience of the country’s democratic processes. The electorate has shown commendable civic responsibility by voting responsibly and ensuring the preservation of democracy.
‘The NCE fully supports President Dissanayake’s commitment to maintaining transparency and accountability in governance, which are essential for restoring public trust and fostering a more efficient and productive state. Additionally, the removal of bureaucratic red tape is crucial for accelerating economic growth. Exporters and businesses have faced unnecessary delays and obstacles due to outdated administrative processes. We urge the new administration to streamline procedures and create a more business-friendly environment that empowers entrepreneurs and exporters to drive the economy forward.
‘We also urge the newly elected President to prioritize an export-driven economy as a key strategy for sustainable development. Increasing export revenues is vital not only for easing the country’s debt burden but also for improving the balance of trade and boosting national income. The NCE believes that Sri Lanka’s economic future depends on empowering exporters, creating favorable trade policies, and facilitating access to new global markets.
‘The NCE stands ready to offer its assistance in steering the country toward economic resilience. We look forward to working closely with the government in driving growth within the export sector and ensuring that the policies implemented contribute to the long-term prosperity of Sri Lanka.
‘Once again, we congratulate President Anura Kumara Dissanayake and wish him great success in leading Sri Lanka through these challenging times toward a brighter and more prosperous future.’
Business
Sarvodaya Development Finance joins Global Banking Alliance, set to host annual board meeting in Sri Lanka
Remarking a new milestone in its pledged journey towards sustainable financing and inclusive financing,
Sarvodaya Development Finance PLC (SDF) has secured the full membership in the Global Alliance for Banking on Values (GABV), an international network of banks working to build a more sustainable and inclusive financial system.
Through this membership, Sarvodaya Development Finance PLC aims to strengthen its ability to create social and environmental impacts by expanding access to ethical financial tools, supporting community-led development, and promoting environmentally responsible lending. The alliance provides opportunities to engage with global peers, share practical knowledge, and adopt approaches that have worked in similar contexts around the world. It also allows Sarvodaya Development Finance PLC to align more closely with international standards on sustainable finance, build relationships with mission-aligned investors, and stay informed on evolving policy and regulatory trends. As part of this engagement, Sarvodaya Development Finance PLC will host the Asia Pacific Conference and the GABV Annual Board Meeting in Colombo on October 15–16, 2025, bringing together CEOs from over 12 countries to collaborate on advancing values-based banking across the region.
The 17th Annual Meeting of the Global Alliance for Banking on Values was held in Kampala, Uganda, under the theme “Building Resilient Futures.” The event brought leaders from over 70 member banks across more than 45 countries to the GABV network to discuss how values-based banks can respond to global challenges such as climate change, economic inequality, and digital transformation. Channa De Silva – the Chairman and the Nilantha Jayanetti – the Chief Executive Officer of Sarvodaya Development Finance PLC have represented the Company at this event.
Business
Sanjiv Hulugalle appointed CEO and General Manager of Cinnamon Life at City of Dreams Sri Lanka
A Global Hospitality Visionary Returns Home to Lead Sri Lanka’s Most Ambitious Integrated Resort
Cinnamon Life announces the appointment of Sanjiv Hulugalle as the Chief Executive Officer and General Manager of Cinnamon Life at City of Dreams Sri Lanka, marking a pivotal moment in the evolution of Sri Lanka’s hospitality landscape.
With a career that spans over three decades and 12 countries across five continents, Hulugalle brings to Cinnamon Life an unparalleled legacy in luxury hospitality, real estate development, and transformative leadership. From the Maldives to Canada, China to the UAE, he has been at the helm of some of the world’s most prestigious hospitality and real estate ventures.
Previously the Group President of Hospitality & Real Estate at KOHLER Co., Hulugalle drove innovation and strategic growth across a diverse portfolio. At Auberge Resorts Collection, he led the ambitious repositioning of a $210 million development. His 24-year tenure with Four Seasons saw him lead top-tier teams and deliver award-winning results across the globe.
But this latest chapter is deeply personal.
Having been semi-retired, Hulugalle’s return to Sri Lanka was sparked not by circumstance, but by calling and purpose. “This is not just a role,” says Hulugalle. “It’s a way of giving back to the country that raised me—with its gracious hospitality, boundless warmth, and vibrant soul.”
“Sri Lankan hospitality is naturally gracious and kind,” he reflects. “It’s in our DNA. My mother would’ve wanted me to return and give back.”
Redefining Colombo as a City of Dreams
With Hulugalle at the helm, Cinnamon Life is set to emerge not just as a landmark development in Colombo—but as a destination, that captures the imagination of the world. Under his leadership, City of Dreams will embody the essence of modern Sri Lanka: rooted in culture, rich in character, and radiating with opportunity.
In addition to his work in hospitality, Hulugalle is also an active investor in AI-led technologies, residential real estate, and wellness-driven consumer brands, always seeking to blend strategic foresight with heartfelt service.
The Colombo Stock Exchange (CSE), in collaboration with the Securities and Exchange Commission of Sri Lanka (SEC), hosted an Issuer Forum in Gampaha aimed at supporting small and medium-sized enterprises (SMEs) in exploring avenues for capital raising through listing on the Colombo Stock Exchange.
The forum, titled “Redefining the Trajectory of Your Business”, provided guidance on exploring effective capital-raising avenues, specifically through listing on the Empower and Diri Savi Boards. These boards offer dedicated listing platforms for SMEs, focusing on sectors such as agribusiness, livestock, energy generation, ICT, and tourism-related ventures. Attracting over 70 participants, the forum offered valuable insights that were well received.
The main presentation of the evening, delivered by Mr. Nikila Darmadasa, Senior Management Associate of the Corporate Advisory Division at NDB Investment Bank Limited, educated the participants on the benefits of capital generation and mobilization through listing on the CSE, outlining the processes and advantages for businesses ready to grow beyond traditional financing models.
A panel discussion on “The Journey Towards Listing and Life After Listing” featured Manuri Weerasignhe, Director, Corporate Affairs, SEC; Rajeeva Bandaranaike, CEO, CSE; Nikila Darmadasa, and J.F. Fernandopulle, Managing Director and CEO, Mahaweli Coconut Plantations PLC. The session was moderated by Ms. Punyamali Saparamadu, Senior Vice President, Commercial, CSE. The panel offered practical perspectives on preparing for a listing, regulatory expectations, and the business journey post-listing.
This initiative reflects the continued commitment of the SEC and CSE to broaden access to capital market opportunities for SMEs across Sri Lanka, enabling them to scale sustainably while contributing meaningfully to the national economy.
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