Business
Top Sri Lankan companies pledge to increase women’s representation in corporate leadership

International Women’s Day
The Colombo Stock Exchange (CSE) and the International Finance Corporation (IFC) in association with the World Federation of Exchanges, the Sustainable Stock Exchanges (SSE) Initiative, UN Global Compact Network, the Department of Foreign Affairs and Trade (DFAT) of the Australian Government, UN Entity for Gender Equality and the Empowerment of Women (UN Women), and the Sri Lanka Institute of Directors (SLID) rang the market opening bell for gender equality, in line with the International Women’s Day 2023, for the eighth consecutive year, with several top Sri Lankan Companies, pledging to increase women representation in corporate leadership.
At the event 14 companies signed onto a commitment to boost female representation at the board level and in management to a minimum of 20% by 2025.
The annual global initiative highlights how greater participation of women in the economy can spur sustainable and inclusive growth, shaping a more equal future.
“The Colombo Stock Exchange joined this initiative in 2016, as one of the initial stock exchanges, and we believe this is the platform to convene business leaders, investors, and other key parties at the national level to highlight the growing business and economic case for gender equality, said CSE Chairman Mr. Dilshan Wirasekera delivering the opening remarks.”
“If we look at the progress that the Exchanges have made, specifically with regard to listed companies, we relatively had success; if we look at the numbers way back in 2018, we had 8% of women representation in our boards and that has increased to 10 % today. We have global statistics that show, women representing management in organizations even at board level have contributed for better financial results,” he added.
“The event today is used as a ‘call to action’ for businesses to advance women’s empowerment and gender equality. We wanted to invite initially the 20 S&P companies today to pledge their commitment towards increasing female representation at the board level and in management to a minimum of 20% by 2025.”
The Global Gender Gap Report of 2022 indicates the share of women hired into leadership roles has seen a steady increase, from over 33 percent in 2016 to nearly 37 percent in 2022. However, amid multiple global crises, sparked initially by the COVID-19 pandemic, there are concerns that women’s workforce participation has dropped, risking further backsliding on gender parity. IFC’s commitment to the initiative is part of its strong focus on gender equality, which includes leveraging relationships with financial institutions to expand access to finance for female entrepreneurs and increase the number of women in leadership roles.
“Better gender balance in business leadership is inextricably linked with achieving sustainable, inclusive growth. We know that making even small inroads in closing the gender gap can yield clear and positive results for businesses especially in financial performance and better decision-making processes,” said Sarah Twigg, Manager, Women in Work Program, IFC. “The commitment of the 13 top Sri Lankan companies is a significant step towards accelerating the progress we have made so far. This is also the time that Sri Lanka needs more women corporate and business leaders to help ensure an inclusive and resilient recovery in the country.”
Ms. Lalita Kapur, Australian Deputy High Commissioner to Sri Lanka and Maldives sharing her valuable insights on the initiative, stated, “The global ‘Ring the Bell’ event helps raise awareness of the essential contribution women make to our economies – and reinforces the undeniable business case for women’s labour force participation. As Sri Lanka navigates significant economic challenges, it is critical now more than ever, that we find new ways to advance gender equality.”
Business
Pasans Rent a Car honoured at Iconic Awards 2025 in Thailand

Pasans Rent a Car (Pvt) Ltd was recently honoured as The Excellent Car Rentals and Tour Service Provider of the Year at the Iconic Awards 2025 held in Bangkok, Thailand. Managing Director, Dr. Pasan Nalinda Hiripitiyage received the award. Established in 2002 as a modest vehicle rental service, Pasans Rent a Car has today grown into a national name in travel and transport. Headquartered in Malabe, they cater to a wide range of clients such as private customers, tourists, and private and Government institutions including Ministries.
Business
Medihelp Hospitals and Apollo Hospitals Group-India announce strategic clinical collaboration

Medihelp Hospitals and Apollo Hospitals Group-India have announced a strategic clinical collaboration during a grand ceremony at the Kingsbury Hotel in Colombo. The MOU outlines a framework for clinical collaboration, focusing on knowledge sharing, advanced specialty care, preventive health initiatives, and continuous professional development. This partnership aims to elevate clinical standards in Sri Lanka by introducing global best practices through joint programs, telemedicine, second-opinion services, and medical education.
The agreement was signed and exchanged by Nishantha Jayamanne, Chief Operating Officer of Medihelp Hospitals, and Jithu Jose, Vice President – International Division of Apollo Hospitals. Nishantha welcomed the dignitaries and emphasized the importance of such collaborations in light of the escalating disease burden and changing disease patterns. Jithu Jose remarked, “At Apollo Hospitals, we are committed to the principle that access to high-quality healthcare should transcend geographical boundaries. We are proud to be part of this collaborative initiative to strengthen the ties between the medical communities of India and Sri Lanka.”
Business
Union Assurance leads fight against diabetes with nationwide ‘Suwamaga’ initiative

Union Assurance, a pioneering force in Sri Lanka’s private life insurance sector, is playing an increasingly proactive role in addressing the country’s rising diabetes crisis. As part of its commitment to corporate citizenship, the company has launched Suwamaga, an impactful CSR programme aimed at combating the growing threat of non-communicable diseases (NCDs), with a particular focus on diabetes.
Senath Jayatilake, Chief Executive Officer at Union Assurance, explained that the company’s corporate responsibility approach stems from its new brand vision, which is centered around empowering human progress by protecting what matters most. He emphasized that this vision is aligned with the company’s dedication to strengthening not only financial stability but also the emotional, physical, and community well-being of Sri Lankans. “As part of our strategic direction, we recognized the severe impact of NCDs, particularly diabetes, on the nation’s social and economic progress,” Jayatilake noted.
The Suwamaga programme launched in 2024, under the Ministry of Health’s collaboration, includes a Mobile Screening Unit, which has already screened over 26,000 individuals across Sri Lanka, from urban centers to rural communities. The mobile unit offers free diabetes screenings, followed by personalized medical advice, empowering the public to take charge of their health. Mahen Gunarathna, Chief Marketing Officer at Union Assurance, shared, “The screenings have revealed alarming results. Approximately 15% of participants were recommended for further testing, with 12% diagnosed with diabetes for the first time. These screenings have proven essential for early intervention.”
The gravity of the diabetes crisis in Sri Lanka was further highlighted by Dhanya Wijesuriya, Vice President of the Sri Lanka Diabetes Association. “Diabetes is a silent killer in Sri Lanka, affecting an alarming portion of the population,” she said, stressing that early detection is key to preventing the disease from progressing. “Pre-diabetes is reversible, but once diabetes is diagnosed, it’s a lifelong condition. Tragically, half of those affected remain unaware until complications arise.”
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