Business

‘Oceanic resources over- exploited; natural balance imperiled’

Published

12 months ago

2025/10/2

Graham Marshall; ‘We are shooting ourselves in the foot’.

Sri Lanka’s oceans are eight times larger than its landmass—yet the nation continues to overlook its greatest asset. Graham Marshall, President of the Wildlife and Nature Protection Society (WNPS), is urging policymakers and corporates to treat marine conservation with the same seriousness as terrestrial conservation.

Speaking to The Island Financial Review recently after an exclusive screening of ‘Ocean with Sir David Attenborough’—hosted by Spa Ceylon at SCOPE Cinema, Havelock City Mall—Marshall echoed the famed naturalist’s warning: “We are disturbed when a forest is degraded, but ignore that the same destruction is happening beneath the sea. The ocean is a forest too—green, vibrant, and full of life. We are losing it at an alarming rate.”

For centuries, fishing was sustainable. Coastal communities lived in equilibrium with the sea—catching fish while stocks naturally replenished. “That balance is broken, Marshall warned. “Industrial vessels scrape the seabed, destroying everything. Coastal families now come back with empty nets. Their livelihoods are being wiped out by large commercial fleets chasing profits.”

With less than three percent of world’s seas protected, the stakes are high. “We are an island of 65,000 square kilometres, but with 550,000 square kilometres of ocean. Our food security, our economy, even our climate resilience depends on the seas. Yet we treat them as if they are expendable.”

Marshall stressed that the issue goes far beyond biodiversity. “Mangroves, seagrasses, coral reefs—these are our frontline defences against climate change. They absorb more carbon than tropical rainforests. Protecting them is not just an environmental concern, it’s an economic one. Conservation means more fish, more livelihoods and more stability for coastal communities. Destroying these ecosystems is like destroying our own economy.”

He warned that unchecked exploitation is “shooting ourselves in the foot.” By chasing short-term gains, Sri Lanka risks losing the long-term value of its blue economy—an asset that could rival its traditional industries if managed sustainably.

Marshall highlighted that WNPS has already shifted gears to give oceans the attention they deserve. “We now have a very active marine committee, with brilliant scientists like Dr. Malik Fernando, Dr. Rex de Silva, and generations of divers who know these seas. We are building on the work of pioneers such as Arthur C. Clarke.”

Current efforts include mangrove and seagrass conservation, promoting marine protected areas and community-based resource management. But Marshall stressed that more needs to be done. “We must address destructive commercial fishing practices. We must empower coastal communities. And corporates must step up—marine conservation should be at the heart of sustainability agendas.”

Marshall’s message is clear: Sri Lanka’s oceans are not a luxury—they are the foundation of its survival and prosperity. “As an island nation, our seas are our borders, our livelihoods, and our protection. If we continue destroying them, we risk not just biodiversity, but our economic future. If we protect them, we protect our people.”

By Ifham Nizam

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Business

Indo-Sri Lanka Chambers forge alliance to drive infrastructure and real estate investment

Published

18 hours ago

2026/09/14

Thilina Walpola

The exchange of the MoU between the two organisations

By Sanath Nanayakkare

In a major boost to bilateral economic ties, the Chamber of Construction Industry of Sri Lanka (CCISL) and the Indo–Sri Lanka Chamber of Commerce & Industry (ISCCI) have signed a strategic Memorandum of Understanding (MoU) to deepen cooperation in real estate, infrastructure, and urban development.

The agreement establishes a formal framework for both institutions to drive collaborative initiatives, including business delegations, high-level conferences, workshops, B2B matchmaking sessions, and technical site visits. Designed to bridge businesses, government institutions, and project stakeholders across the Palk Strait, the partnership aims to unlock new avenues for cross-border joint ventures and technology transfers.

A focal point of this newly minted partnership is the facilitation of an upcoming trade delegation from the National Real Estate Development Council (NAREDCO) of India. Comprising major Indian players in the real estate and infrastructure sectors, the visiting delegation will engage in targeted business meetings, workshops, and inspection tours of prominent construction projects in Sri Lanka.

Under the terms of the MoU, CCISL will serve as the principal host coordinator in Sri Lanka. In close consultation with ISCCI, the apex construction body will curate itineraries, identify viable projects for engagement, and facilitate high-level dialogues with key government agencies, regulatory bodies, and industry leaders.

With both nations prioritizing sustainable urban growth, modern construction technologies, and infrastructure expansion, industry leaders view the partnership as a timely catalyst for economic rejuvenation. The collaboration is anticipated to accelerate market access, knowledge exchange, and foreign direct investment into Sri Lanka’s burgeoning property and development sectors.

To ensure the success of the upcoming NAREDCO delegation, CCISL has issued an urgent appeal to statutory authorities and relevant project owners to come forward with viable investment proposals. Stakeholders holding projects seeking foreign investment or technical partnerships are invited to submit comprehensive details to the Secretary General and CEO of CCISL via email at secyces@gmail.com.

Both chambers emphasize that translating this foundational agreement into tangible partnerships and robust capital flows will significantly strengthen bilateral connectivity between the construction and real estate sectors of India and Sri Lanka.

Business

Hettich celebrates a decade in Sri Lanka with partner meet in Colombo

Published

19 hours ago

2026/09/14

Thilina Walpola

Over the past decade, Hettich has strengthened its presence in Sri Lanka through its focus on German engineering, innovation, quality and functionality

Hettich, the globally renowned German manufacturer of furniture fittings and architectural hardware known for its state-of-the-art manufacturing plants and magical interior solutions across the world celebrated a significant milestone in Sri Lanka, marking 10 years of presence in the country with its inaugural Partner Meet in Colombo.

The landmark event brought together Hettich’s key partners, stakeholders and industry leaders to celebrate a decade of growth, collaboration and shared success, while reaffirming the company’s long-term commitment to the Sri Lankan market.

Over the past decade, Hettich has strengthened its presence in Sri Lanka through its focus on German engineering, innovation, quality and functionality, contributing to the creation of contemporary and intelligently designed living and working spaces across the country.

The gala evening was graced by a distinguished delegation of senior leaders, including Dr. Andreas Hettich, Chairman, Hettich Group Advisory Board; S. K. Poddar, Chairman, Hettich India & Adventz Group; Mr. Akshay Poddar, Director, Hettich India; Andre Eckholt, Managing Director, Hettich India, SAARC, Middle East & Africa; Rahul Thakkar, Director – Sales, Hettich India & SAARC; and Dinusha Bhaskaran, Managing Director, Vallibel One PLC.

Business

GS Evo Motors launches all-new JMEV EWIND

Published

19 hours ago

2026/09/14

Thilina Walpola

Priyantha Perera, Chief Executive Officer of GS Evo Motors (left), and Sunil Wettasinghe, Chairman of GS Evo Motors, introducing the latest JMEV Ewind Electric SUV to the local market

GS Evo Motors Limited, the authorized distributor of JMEV electric vehicles in Sri Lanka, has officially launched the JMEV EWIND, a next-generation compact electric SUV. The vehicle is designed to offer strong performance, intelligent technology, premium comfort, and high safety standards, marking another milestone in Sri Lanka’s growing electric mobility sector.

The EWIND features a sleek, aerodynamic exterior with penetrating LED daytime running lights, trapezoidal chain-inspired LED tail lamps, 19-inch alloy wheels, and a bold silhouette. Inside, it offers a spacious cabin with a panoramic moonroof and retractable curtain, an ultra-thin suspended instrument panel, a D-shaped multifunction steering wheel, multi-colour ambient lighting, premium finishes, and electrically adjustable front seats.

The SUV is available in single-motor front-wheel drive configurations, producing up to 108 kW and 210 Nm, with 0–100 km/h acceleration in 8.9 seconds.