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Ocean wealth without data: Sri Lanka’s Blue Economy faces a silent risk

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Dr. Ranil Nanayakkara

By Ifham Nizam

Sri Lanka’s oceans generate millions of dollars annually through fisheries exports and whale watching tourism, positioning the island as a strategic player in the North Indian Ocean’s blue economy. Yet beneath this revenue stream lies a serious structural weakness: the absence of long-term, tangible scientific data to guide sustainable management.

“The single biggest bottleneck in Sri Lanka’s marine sector is the lack of consistent, long-term scientific research,” says Dr. Ranil Nanayakkara, Co-Founder and Principal Scientist of Biodiversity Education and Research (BEAR).

Speaking to The Island Financial Review, he said: “We are commercially exploiting marine resources, but we are not investing proportionately in understanding them.”

A decade ago, whale watching operators off Mirissa confidently guaranteed sightings of the majestic Blue whale, even offering refunds if tourists failed to see one. Today, such guarantees are no longer possible. Sightings in those waters have become increasingly rare, raising concerns not only among conservationists but also among tourism stakeholders who depend on the reliability of these experiences.

In place of Blue whales, researchers are now recording more frequent appearances of Bryde’s whale, a species that feeds on schooling fish rather than krill. The shift may signal deeper ecological changes linked to warming seas, overfishing, altered currents or prey depletion. The economic implications are clear: when flagship species decline or alter migratory patterns, tourism revenue becomes volatile.

“The ocean is not infinite,” Dr. Nanayakkara warns. “We behave as though fish stocks and marine mammals will always replenish themselves. But overfishing disrupts the food chain. When prey availability changes, larger migratory species respond.”

Sri Lanka’s fisheries sector plays a critical role in food security and export earnings. Yet overfishing, particularly of schooling fish, does not only threaten catch volumes but also impacts marine mammals that rely on the same prey base. Without accurate stock assessments and ecosystem-level monitoring, policymakers are navigating blind.

The case of Kalpitiya illustrates the shifting baseline. Until around 2021–2022, researchers documented one of the largest seasonal aggregations of Sperm whale in the eastern half of the Gulf of Mannar. Between mid-March and early April, pods numbering 300 to 400 individuals were observed, including mature males arriving from colder waters to breed.

Today, such large gatherings are rarely seen.

Public discourse often attributes marine disruptions to the 2021 maritime disaster involving the MV X-Press Pearl. While acknowledging localized environmental damage, Dr. Nanayakkara cautions against drawing sweeping conclusions without data.

“The ocean is vast. A spill may cause short-term, localised impacts. But long-term population shifts require long-term monitoring to understand causation.”

Ironically, Sri Lanka does possess institutional capacity. The National Aquatic Resources Research and Development Agency (NARA) operates an ocean-going research vessel and maintains scientific infrastructure. However, sustained offshore surveys and multidisciplinary research missions have been limited.

“We have assets. What we lack is sustained deployment and coordinated national strategy,” Dr. Nanayakkara notes. “Research is often dependent on personal funds, goodwill donors or small grants. That is not how you manage a national economic resource.”

The economic risks of neglect are mounting. International seafood markets increasingly demand sustainability assurances backed by verifiable data.



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PM ‘Rings the Bell’ at CSE to champion financial literacy and investor education

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P.M. Dr.Harini Amarasuriya

As part of World Investor Week (WIW) 2026, the Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) joined stock exchanges around the world in ringing the market opening bell for financial literacy on 5 October 2026, under the patronage of Dr. Harini Amarasuriya, Prime Minister of the Democratic Socialist Republic of Sri Lanka.

World Investor Week is an annual global campaign led by the International Organization of Securities Commissions (IOSCO) to raise awareness of the importance of investor education and investor protection. The “Ring the Bell for Financial Literacy” initiative, pioneered by the World Federation of Exchanges (WFE), brings together stock exchanges and other stakeholders worldwide to promote greater financial literacy and encourage individuals to make informed financial decisions.

The ceremony also marked the 40th anniversary of the CSE and the joint launch by the SEC and the CSE of the Stock Market Game, an online stock market simulation based on the ATrad trading system.

The Stock Market Game enables participants to gain practical experience of how the stock market works, make investment decisions and construct portfolios of listed shares without using real money. The platform is accessible through the websites of the SEC and CSE and is expected to serve as an important practical tool for promoting financial education. It is envisaged that the Stock Market Game will also be used to conduct simulation competitions among universities and the 100 Capital Market Clubs established in schools across the country.

The ceremony also featured the commemorative issuance of a stamp and First Day Cover to mark the 40th anniversary of the CSE. Issued in collaboration with the Department of Posts and the Philatelic Bureau of Sri Lanka, the commemorative stamp and First Day Cover were presented to Prime Minister Dr. Harini Amarasuriya, by the SEC Chairman Snr. Prof. D.B.P.H. Dissabandara and Ray Abeywardena, Director CSE and Chairman of Central Depository Systems (CDS).

Welcoming the gathering, Rajeeva Bandaranaike, Chief Executive Officer of the CSE, highlighted the importance of obtaining reliable information when making investment decisions.

“We operate in a digital world where a vast amount of information and data is disseminated through social media. While some of this information is factual, some may be inaccurate or misleading. When investing in the stock market, it is essential to make informed and prudent investment decisions. Therefore, investors should obtain information and data from reliable and responsible sources and persons before making investment decisions.”

Addressing the gathering, SEC Chairman Snr. Prof. D.B.P.H. Dissabandara emphasised that the SEC’s role extends beyond regulation to facilitating the further development of the capital market.

“The SEC needs to determine how best to introduce the stock market to Generation Alpha, Generation Beta and generations beyond. When it comes to investors, we need to build confidence in the market, because people will invest only when they have confidence in the market.’’

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Rs. 5 million worth of prizes to be given at 8th edition of CSE Masterminds Quiz Competition

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The Colombo Stock Exchange (CSE) has announced that the eighth edition of the CSE Masterminds Quiz will be held on 9th October 2026, from 3.00 p.m. onwards, at the Main Ballroom, Shangri-La Colombo.

Recognised as Sri Lanka’s premier capital market quiz competition, CSE Masterminds brings together teams from the public and private sectors. Participants will be tested across international business, global markets, current affairs, the Sri Lankan economy and business, the Sri Lankan stock market, and sports and entertainment, before a concluding rapid-fire round.

This year the winning team can win up to Rs. 2,000,000, the runners-up up to Rs. 1,000,000, and the second runners-up Rs. 750,000. Sector awards will also be presented to the highest-performing team from each participating sector. Guest participants will also be able to compete in rounds of Audience questions, and will have the opportunity to participate a raffle draw for three free return tickets provided by Fits Aviation (Pvt) Ltd.

The evening will also include an exclusive after-party with live music provided by the band ‘Doctor’ featuring guest performer Umara Sinhawansa, fine food and beverages, providing an opportunity for networking and celebration. Every participant will receive a premium goodie bag made possible by the support of the event’s sponsorship partners. Collectively, the event will feature over Rs. 5 million worth of prizes, rewards, and giveaways, encompassing championship prizes, sector awards, audience engagement prizes, raffle draw offerings, and goodie bags.

Sponsorship partners include:

Platinum Sponsors: Hatton National Bank PLC and Bartleet Religare Stockbrokers (Pvt) Ltd.

Gold Sponsors: Ex-Pack Corrugated Cartons PLC, Asha Securities Ltd., and Lanka Securities (Pvt) Ltd.

Silver Sponsors: Barista Coffee Lanka (Pvt) Ltd., Capital Trust Holdings (Pvt) Ltd., LOLC Holdings PLC, Arpico Ataraxia Asset Management (Pvt) Ltd., IronOne Technologies (Pvt) Ltd., and LankaPay (Pvt) Ltd.

Co-Sponsors: Access Engineering PLC, Bank of Ceylon, Commercial Bank of Ceylon PLC, CryptoGen (Pvt) Ltd., Deloitte Lanka (Private) Limited, Dialog Finance PLC, Efutures (Pvt) Ltd., People’s Leasing & Finance PLC, Senfin Asset Management (Pvt) Ltd., and Softlogic Stockbrokers (Pvt) Ltd.

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NCCSL to conduct practical workshop on food labelling and advertising regulations in Sri Lanka

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The National Chamber of Commerce of Sri Lanka (NCCSL) is organizing a one-day practical workshop on “Food Labelling & Advertising Regulations in Sri Lanka” on Thursday, 8th October 2026 from 9.00 a.m. to 4.30 p.m. at the National Chamber of Commerce, Colombo 10. The workshop has been organised to provide a practical understanding of the latest regulatory requirements governing the food products labelling and advertising of food products in Sri Lanka, with particular attention to regulatory developments applicable in 2026, compliance requirements, and the potential legal and financial implications of non-compliance.

As food products increasingly compete not only with quality and price but also on packaging, labelling and promotional claims, businesses must ensure the information they communicate to consumers is accurate, transparent and consistent with applicable regulatory requirements. Understanding these requirements is therefore essential for businesses seeking to protect their brands, maintain consumer confidence, and minimize regulatory and legal risks.

The practical workshop will go beyond an overview of regulations and focus on how businesses can apply regulatory requirements in their day-to-day operations. Participants will be guided through key areas of food regulatory compliance, including the national food regulatory framework, recent food labelling regulations and key changes, mandatory approvals and prohibitions relating to food labelling, and the litigation process associated with regulatory violations. The programme will also cover several areas of growing importance to the food industry, including the EU EMPCO Directive, food colour coding regulations, regulations relating to food trans-fatty acids and the importance of compliance in the use of food additives. Practical exercises will further enable participants to apply their knowledge to real-world compliance situations and strengthen their ability to identify potential regulatory concerns.

For further information and registration, please contact the National Chamber of Commerce of Sri Lanka on 011 4741788 – Nethmi or Udula – 071 403 4775.

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