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18-year-old Senisa Gunawardena has been selected to represent Sri Lanka at the prestigious ShakthiSAT International Spac...
15/08/2026

18-year-old Senisa Gunawardena has been selected to represent Sri Lanka at the prestigious ShakthiSAT International Space Mission following a highly competitive selection process.

The achievement marks another milestone in Sri Lanka's efforts to promote digital technology and STEM (Science, Technology, Engineering and Mathematics) education, with 200 students currently undergoing training under the national STEM education programme. TravelGuides & Travelogues

The ShakthiSAT International Mission will be held from August 22 to 31 at Gautam Buddha University in India, while the official tour to New Delhi is scheduled from August 21 to 31.

During the visit, Senisa is expected to participate in several official diplomatic meetings and state functions attended by the Prime Minister and the President of India.

Organisers said the opportunity is a significant educational and diplomatic achievement for Sri Lanka's youth and reflects the country's continued progress towards a digital and technology-driven future.

Amãna Bank PLC in collaboration with the Philatelic Bureau of the Department of Posts of Sri Lanka launched a Special Co...
14/08/2026

Amãna Bank PLC in collaboration with the Philatelic Bureau of the Department of Posts of Sri Lanka launched a Special Commemorative Cover and Stamp in celebration of the Bank’s 15th Anniversary. The ceremonial launch was held on 12 August to honour and mark Amãna Bank’s contribution to Sri Lanka’s financial services landscape and its distinctive role as the country’s first and only licensed commercial bank operating entirely on the non-interest based banking model.

The commemorative cover and stamp pay tribute to Amãna Bank’s journey since commencing operations in 2011, reflecting 15 years of enabling growth, enriching lives, and delivering value through a development-focused and people-friendly approach to banking. Since opening its doors, Amãna Bank has steadily expanded its presence across the country, serving a growing customer base through its 80+ branch and self-banking centre network while remaining focused on Retail, SME, and development-oriented banking with a selective approach to Corporates. The Bank’s asset-backed banking model continues to channel financing towards productive sectors of the economy, supporting entrepreneurs, households, and businesses in a manner aligned with its values and customer-centric promise.

The ceremonial event was graced by the Deputy Postmaster General of the Sri Lanka Department of Posts, Mr. Premachandra Herath; Director of the Philatelic Bureau of the Sri Lanka Department of Posts, Lanka De Silva; Founder Chairman of Amãna Bank, Osman Kassim; incumbent Chairman, Asgi Akbarally; current Managing Director/CEO, Mohamed Azmeer; Founder Directors Tyeab Akbarally, Ruzly Hussain, Jazri Magdon Ismail and Dr. A. A. M. Haroon; Founder Managing Director/CEO, Faizal Salieh; current Board of Directors; Sharia Supervisory Council; OrphanCare Trustees; along with the Bank’s Management Committee, Senior Management and Branch Managers. Prior to the stamp launch, the Bank marked its 15th anniversary by ceremoniously hoisting the Sri Lanka National Flag at its Corporate Office premises.

State‑owned dairy company Milco (Pvt) Ltd achieved a historic financial turnaround last year, recording its highest‑ever...
14/08/2026

State‑owned dairy company Milco (Pvt) Ltd achieved a historic financial turnaround last year, recording its highest‑ever net profit of Rs.1.49 billion by late 2025, according to Agriculture and Livestock Deputy Minister Namal Karunaratne.

Deputy Minister Karunaratne told Parliament last week that the recovery enabled the company to halt privatization plans, clear debts, and extend unprecedented financial benefits.

On December 31, 2025, Milco disbursed a performance bonus of Rs.75,000 each to all 1,228 employees. In addition, Rs.180 million in profit‑sharing incentives was distributed among 22,000 dairy farmers, marking the first such payout in 21 years.

He further said that Milco had previously accumulated Rs.3.5 billion in bank loans and Rs.1.7 billion in outstanding payments owed to milk‑supplying farmers, but all debts have now been settled.

He further announced that the long‑delayed Badalgama milk factory project will recommence, with capacity to process up to 200,000 liters of milk daily.

Plans are also underway to upgrade the National Livestock Development Board’s farm in Nikaweratiya, with an additional Rs.1 billion budget allocated to supply high‑yield dairy heifers and male stock to local farmers.

The Ceylon Petroleum Corporation says the process of calling for proposals to select an appropriate investor to extract ...
13/08/2026

The Ceylon Petroleum Corporation says the process of calling for proposals to select an appropriate investor to extract and utilize the natural gas resources in the Mannar Basin will begin this month.

Managing Director of CPC, Dr. Mayura Neththikumara, said the presence of natural gas in the Mannar Basin has been scientifically confirmed by the Sri Lanka Petroleum Development Authority.

The relevant process will be carried out with the approval of the Procurement Committee, and investors will be given approximately five months to submit their applications.

French deeptech company Syntetica, which is pioneering solutions to recycle complex textile waste, has raised $30 millio...
12/08/2026

French deeptech company Syntetica, which is pioneering solutions to recycle complex textile waste, has raised $30 million in Series A funding with backing from global apparel brands including lululemon and MAS Holdings.

The round was led by the Ecotechnologies 2 fund, managed on behalf of the French government by Bpifrance, with participation from SWEN Capital Partners, EQT Ventures, family offices of Peugeot and Etam, and Indorama Venture’s largest shareholder. Public institutions including Bpifrance and the European Innovation Council also supported the investment.

Syntetica has developed a proprietary process capable of recycling both Nylon 6 and Nylon 6,6 in a single stream, overcoming one of the biggest technical barriers to recycling post‑consumer nylon at scale.

According to Textile Exchange’s Materials Market Report, global nylon production reached around 7 million tonnes in 2024, yet recycled nylon accounts for only about 2% of the market due to technical challenges. More than 80% of textiles discarded by households are currently incinerated, landfilled, or abandoned, underscoring the need for scalable recycling technologies.

The funding will support construction of Syntetica’s first commercial demonstration facility in France, developed in partnership with Michelin’s Centre for Sustainable Materials in Clermont‑Ferrand. The plant will process hundreds of tonnes of textile waste annually, moving the company’s breakthrough chemistry from laboratory scale to industrial reality.

Syntetica is already working with brands including Victoria’s Secret and Etam, alongside a growing number of global apparel companies seeking circular material solutions. The company’s technology focuses on post‑consumer textiles, which account for the majority of textile waste and represent one of the industry’s largest untapped recycling opportunities.

As interest in electric vehicles (EVs) continues to grow, understanding the Global Automotive Brand Pyramid can help buy...
12/08/2026

As interest in electric vehicles (EVs) continues to grow, understanding the Global Automotive Brand Pyramid can help buyers identify where different EV brands stand in terms of technology, luxury, performance, and accessibility.This article explores the different EV options available in the Sri Lankan market and how they compare across these key dimensions.

At the top is Luxury, featuring brands such as YangWang and Maextro, known for exceptional luxury and cutting-edge technology. Below this is High-Tech, offering AI-powered systems, advanced digital ecosystems, and autonomous-driving capabilities. In Sri Lanka, brands such as AVATR and XPENG, imported by Evolution Auto, represent this category, with after-sales support available at its Peliyagoda EV After-Sales Complex.

The Premium category includes brands such as HONGQI, RIICH, and M-Hero, while Semi-Premium includes brands such as IM Motors, VOYAH, ZEEKR, and WEY. IM Motors, including the IM5 and IM6, is already gaining popularity in Sri Lanka.

Below these are Super Mainstream brands such as TANK and DEEPAL, followed by Mainstream brands including JETOUR, OMODA, JAECOO, LEAPMOTOR, GAC, BYD, HAVAL, and others.

Entry Mainstream brands such as MG, JMEV, WULING, KAIYI, and AION focus on affordability and everyday practicality, while Entry/Old-Tech brands such as BAW focus on basic transportation.

Understanding this pyramid makes it easier to compare EVs and choose the right vehicle for your needs.

Note: This is a summarised English translation of an article originally written in Sinhala by Kalindu Karunaratne.

The Cabinet has approved the provision of more than Rs. 1 billion in equity capital to Lanka Metro Transit (Pvt) Ltd to ...
12/08/2026

The Cabinet has approved the provision of more than Rs. 1 billion in equity capital to Lanka Metro Transit (Pvt) Ltd to expand its public transport operations and develop supporting infrastructure.

Lanka Metro Transit was incorporated on October 3, 2025, as a subsidiary of the Sri Lanka Transport Board (SLTB), with the objective of modernising public transport in the country.

The company has commenced a pilot urban transport service in Colombo using 10 low-floor buses imported under the Clean Sri Lanka programme.

According to the government, the progress of the pilot operation has demonstrated the commercial viability of the service and gained public acceptance.

Lanka Metro Transit is now planning to deploy another 112 low-floor buses from September.

To support the expansion, infrastructure including a fully equipped central workshop and modern bus depots at Kalangama, Kadawatha, Ratmalana and Homagama will be developed. Internal roads and bus parking areas are also expected to be upgraded.

The Cabinet has approved Rs. 800 million in equity capital for infrastructure development during 2026.

Commercial-scale battery energy storage systems being installed at 16 electricity transmission substations across Sri La...
11/08/2026

Commercial-scale battery energy storage systems being installed at 16 electricity transmission substations across Sri Lanka are expected to be connected to the national grid in early September.

The systems, which were brought into Sri Lanka through the Colombo Port in three stages during May and June, are currently in the final stages of construction.

The project being implemented by WindForce PLC near the Anuradhapura substation is now around 85% complete.

The battery systems will store excess electricity generated by solar power plants during the daytime and release the stored electricity to the national grid at night when required.

Officials said the system would help maintain the stability of the national grid while reducing the need to generate electricity from diesel power plants during nighttime hours.

Each battery energy storage project will have a capacity of 10 MW. The National System Operator Ltd. (NSO), operating under the Ministry of Energy, will be responsible for managing and controlling the systems, while their maintenance will be handled by the respective companies.

The Government of Sri Lanka has unveiled plans to transform Delft Island into the country’s first Zero Emission eco‑tour...
10/08/2026

The Government of Sri Lanka has unveiled plans to transform Delft Island into the country’s first Zero Emission eco‑tourism destination, with a strong emphasis on sustainability, environmental conservation, and the preservation of its unique natural and cultural heritage.

A special site inspection and stakeholder discussion on the proposed development was held under the leadership of Deputy Minister of Tourism Ruwan Ranasinghe recently.

The island, renowned for its Dutch‑era ruins, numerous archaeological landmarks, and iconic wild horses, is seen as possessing exceptional tourism potential.

Deputy Minister Ranasinghe told participants that Delft Island should be experienced not only by international visitors but also by domestic tourists. Despite its extraordinary attractions, he noted, the island has so far made only a limited contribution to Sri Lanka’s tourism industry.

He emphasized the Government’s commitment to unlocking Delft’s full potential through sustainable and environmentally responsible development.

Discussions focused on identifying priority infrastructure to position Delft Island as a premier tourism destination, with key areas including water supply, road infrastructure, transportation and accessibility. Strengthening community participation was also highlighted, with plans to enhance the knowledge and hospitality skills of local residents to enable them to benefit directly from tourism development.

Sri Lanka’s gross official reserves increased to US$ 6.591 billion in July 2026, according to the latest data released b...
09/08/2026

Sri Lanka’s gross official reserves increased to US$ 6.591 billion in July 2026, according to the latest data released by the Central Bank of Sri Lanka (CBSL).

Official reserves stood at US$ 6.458 billion in June, indicating an increase of US$ 133 million during July.

This represents an increase of approximately 2.1% compared with the previous month.

Meanwhile, Sri Lanka’s gold reserves also recorded a marginal increase during the month.

Gold reserves rose by US$ 1 million, from US$ 191 million in June to US$ 192 million in July, according to the Central Bank data.

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