Business
Sri Lanka’s 1.2 million ‘Tuks’ to undergo ‘e-Wheel’ Revolution
Electric three wheel battery swapping technology arrives
A clean and affordable transportation solution is now available for Sri Lanka’s 1.2 million three wheelers with Lanka E-Mobility Solutions (Private) Limited (LeMS), introducing electric three wheel battery swapping technology, branded ‘e-wheel’ to local owners!
The launch of this novel battery swapping technology means the three-wheeler owner no longer has to purchase a costly battery, or worry about end-of-life replacement, while the battery swapping process takes a mere two minutes! The most expensive component in any electric vehicle is the battery and when converting a petrol three-wheeler to an e-wheeler, the owner does not need to pay for the batteries as they are owned and managed by LeMS, as are the Swapping Stations. The e-wheeler owner only pays for the energy used on a ‘pay-as-you-go’ basis.
This marks a significant milestone in Sri Lanka’s journey towards sustainable transportation, with its founders being driven by the urgent need to reduce carbon emissions and combat harmful air pollution. “Sri Lanka’s 1.2 million three wheelers currently guzzle a staggering 5.5 million liters of petrol a day and each ‘e-wheel’ will help reduce that figure.
Business
‘A New Year defined by people, purpose, and the courage to move’
Pan Asia Bank marked the New Year with a moment of reflection, not on numbers alone, but on the deeper forces that shape progress over time. As the organisation looks ahead, leadership set a tone anchored in trust, responsibility, and the willingness to move forward with intention.
Director/CEO Naleen Edirisinghe drew attention to the role of people as the true drivers of sustained growth. Institutions evolve, he noted, not simply through strategy or scale, but through how leaders guide their teams, share perspective, and create clarity in moments that demand consistency. When people feel supported and trusted, performance follows naturally and the organisation’s values are carried into every interaction beyond its walls.
This emphasis on leadership and collective ownership reflects a belief that culture is built daily, through example rather than instruction. In an environment where expectations are clear and guidance is purposeful, individuals are empowered to contribute with confidence, strengthening the organisation from within.
Chairman of Pan Asia Bank Aravinda Perera complemented this view by speaking to the necessity of movement. Progress, he observed, rarely comes from certainty alone. It requires the courage to make decisions, to step forward even when outcomes are not fully assured, and to accept that learning is often shaped by experience rather than perfection.
By encouraging a mindset that views mistakes as part of growth rather than a deterrent to action, leadership reinforces resilience and sharper judgment. Such an environment allows initiative to flourish, enabling teams to think independently while remaining aligned with shared purpose and values.
Together, these reflections frame the year ahead as one defined not by caution, but by thoughtful confidence. As Pan Asia Bank moves forward, its focus remains on nurturing leadership at every level, strengthening its culture, and creating space for people to act with intent, learn continuously, and contribute meaningfully to long-term, sustainable growth.
Business
CCPI based headline inflation remained unchanged in December 2025
The Colombo Consumer Price Index (CCPI, 2021=100) based headline inflation (year-on-year, Y-o-Y) remained unchanged at 2.1% in December 2025. This was primarily supported by the favourable statistical base effect, despite a substantial month-on-month increase in prices in December 2025 due to Cyclone Ditwah.
Food inflation (Y-o-Y) remained unchanged at 3.0% in December 2025 compared to the previous month, whereas Non-Food inflation (Y-o-Y) accelerated to 1.8% in December 2025 from 1.7% recorded in November.
On a month-on-month basis, however, the CCPI recorded a notable increase of 1.26% in December 2025. The Food category contributed 1.25 percentage points to this increase, reflecting the supply-side disruptions caused by the adverse weather conditions, while the Non-Food category contributed marginally by 0.01 percentage points.
Meanwhile, core inflation (Y-o-Y), which reflects the underlying inflation trends in the economy, accelerated to 2.7% in December 2025 from 2.4% in November 2025.
Inflation projections made at the monetary policy round in November 2025 indicate a gradual acceleration of inflation towards the target of 5% in the period ahead, with the support of appropriate policies.
Business
Macksons Paints Lanka records first paint export to Mayotte Comoros
Macksons Paints Lanka (Multilac) has achieved a significant national milestone by completing Sri Lanka’s first-ever export of paints to Mayotte Comoros, strengthening the country’s position in value-added manufacturing and international trade.
Manufactured locally to rigorous international quality standards, the exported products reflect Multilac’s commitment to performance, consistency, and technical excellence. This successful market entry demonstrates the company’s capability to meet global benchmarks while showcasing the strength and reliability of Sri Lankan manufacturing.
The export forms part of Multilac’s long-term strategy to expand its international footprint through innovation, advanced production processes, and strong market partnerships. By taking Sri Lankan made paints to new global destinations, the company continues to translate local expertise into internationally competitive products.
Beyond its commercial importance, this achievement highlights Sri Lanka’s growing potential to diversify exports through high-value, branded industrial products. It also reflects the dedication of skilled teams and leadership focused on building globally respected Sri Lankan brands.
Macksons Paints Lanka remains committed to driving sustainable growth, strengthening its presence in international markets, and contributing to Sri Lanka’s economic progress through world-class manufacturing.
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