Central Bank of Sri Lanka official reserve assets have surpassed the USD 7 billion mark for the first time since August 2020.

At the end of February 2026, total reserves stood at USD 7,284 million, a 6.6% increase from USD 6,832 million recorded in January.

Foreign exchange holdings accounted for the largest share of reserves, rising from USD 6,687 million in January to USD 7,057 million in February.

The Central Bank’s gold reserves also recorded a significant increase, rising 83.4% from USD 109 million to USD 200 million during the same period.

MullenLowe Group, Sri Lanka’s largest Brand Communications Company, once again reinforces its authority in creative effectiveness by retaining its position as Effie Agency of the Year for 2025, marking its third consecutive win at the Effie Awards ceremony held yesterday. Hosted at The Monarch Imperial on 3 March 2026, MullenLowe delivered a commanding performance, securing 21 accolades across multiple categories, including one Gold for Celcius, three Silver awards for Watawala Tea, Atlas Axillia and Asian Paints, and three Bronze awards for Fonterra’s Anlene, Unilever and Maliban, alongside 14 finalist recognitions, in a powerful showcase of creativity grounded in commercial impact, credibility and strategic discipline.

Reflecting on the achievement, Thayalan Bartlett, Executive Chairman of the Group, said, “To be named Agency of the Year for the eighth time in ten years is both humbling and deeply affirming, and while the accolade carries our name, it truly belongs to our extraordinary team. In an industry that moves at relentless speed, winning consistently demands courage, curiosity, resilience and an unwavering commitment to creative excellence. Sustained success over a decade is never accidental; it is built on shared ambition, disciplined thinking and a culture that refuses to stand still.

This recognition is equally a tribute to our clients who place immense trust in us with their brands, and to our valued partners who collaborate with us to craft compelling communication that solves real business challenges. The most meaningful awards are those rooted in effectiveness, where creativity is not merely decorative but the engine of transformation and growth.

We also acknowledge our industry community, whose work continues to challenge us and raise the bar each year. Seeing the calibre of work recognised on Tuesday night was a reminder that we cannot rest on our laurels, and that we must push ourselves even harder in the year ahead to remain competitive. My congratulations go out to all of them.”

Commenting on the win, Harendra Uyanage, Chief Creative Officer of MullenLowe Group Sri Lanka, said, “Creativity only matters when it moves something, whether that is market share, perception or behaviour. At MullenLowe, we push ourselves to create ideas that do more than capture attention; they are built to perform. Winning Agency of the Year repeatedly proves that effectiveness is not a limitation on creativity, it is what sharpens it.

The strongest work emerges when insight, craft and business ambition align, and that is the standard we hold ourselves to every day.

Consistency at this level is never accidental. It comes from disciplined thinking, fearless creativity and an uncompromising commitment to delivering impact where it counts.”This recognition follows a landmark year for the agency, having also been named Agency of the Year by Campaign Asia, further strengthening its standing on both regional and global platforms.

Hemantha Bandara Herath was re-elected Basnayake Nilame of the historic Kandy Sri Pattini Devalaya, one of the four main devalayas in Kandy on Friday.

At the election held on Friday (6) at the Kandy District Secretariat under the supervision of Commissioner General of Buddhist Affairs Gamini Senarathna, Herath secured 14 votes to defeat rival candidate Priyantha Amunugama by a majority of six votes.

Herath’s name was proposed by Sarath Bandaranayake, the Basnayake Nilame of the Kandy Sri Natha Devalaya.

Amunugama, the Basnayake Nilame of the Lankatilaka Sri Vishnu Devalaya, polled eight votes. Of the 24 eligible voters including Divisional Secretaries and lay custodians of ancient temples and devalayas vested with powers under the Vihara and Devalagam Act, 22 were present and cast their ballots.

Speaking to the media after the result was announced, Herath said he would continue and further strengthen development programmes initiated for the Sri Pattini Devalaya, which is venerated by a large number of devotees. He also thanked those who supported him and voted to enable him to continue his work.

Amunugama said he accepted the verdict with humility and expressed gratitude to those who voted in his favour.

Text and Pic by SK Samaranayake