LISTEN TO STORY

WATCH STORY

By: Isuru Parakrama

February 09, Colombo (LNW): Sri Lanka has taken a significant step towards strengthening its event management industry with the appointment of a 25-member advisory council under the patronage of Minister of Industry and Entrepreneurship Development Sunil Handunnetti.

Announced today (09), the initiative marks the first occasion on which the Ministry of Industries has created a dedicated advisory body for a service-oriented sector.

Recognised locally as a creative industry for more than three decades, the event management field has become a major source of employment, providing direct jobs for around 30,000 people and supporting a further 80,000 indirectly. Industry estimates suggest that more than 400,000 families benefit from the sector, which generated approximately Rs. 60 billion in revenue last year.

Stakeholders have set ambitious targets to expand this figure to Rs. 250 billion, taking advantage of strong global growth, where the industry is valued at about US$1.5 trillion and continues to grow at double-digit rates annually.

The newly formed council is chaired by Saliya Weerasekara, President of the Event Management Association, and brings together experts from government, private enterprise and academia. At its inaugural meeting, members discussed long-standing bottlenecks and future opportunities, including plans to position Sri Lanka as a leading events destination in South Asia.

Key areas identified for reform included simplifying approval processes, protecting intellectual and creative rights, developing a coordinated national events calendar, improving domestic air connectivity, and investing in venues capable of hosting large-scale international events in Colombo.

Officials believe the move will give fresh momentum to the industry, help promote Sri Lankan creativity on the global stage, and create stronger links between event management and the country’s tourism strategy.

Members:

Mr. Saliya Weerasekara Chairman (Chairman, EMA Sri Lanka)
Mr. Nalin Premaratne Regional Representative – Central Province
Mr. Seru Wimalasena Regional Representative – Southern Province
Mr. Ananda Ramanadan Regional Representative – Northern & Eastern Provinces
Mr. Nisal Kaldera Corporate Events
Mr. Roshan Wijerathna Industry Pioneer / Former Chairman, EMA
Mr. Bhathiya Jayakody Entertainment Industry & Artist Management
Mr. Gayan Attanayake Ticketing Policy & Regulation
Mr. Hemantha Local & International Destination Weddings
Mr. Kapila Peiris MICE Specialist (Meetings, Incentives, Conferences & Exhibitions)
Mr. Cham Dias Local & International Destination Weddings
Mr. Kamesh
Mr. Janesh
Mr. Nishan Wasalathanthri
Mr. Sachith Kodikara

By: Staff Writer

February 09, Colombo (LNW): Sri Lanka produces a steady stream of marketing graduates fluent in data analysis, consumer modeling, and predictive tools. Yet inside many organizations, those skills quietly disappear—replaced by intuition-driven decision-making that dominates brand strategy.

This disconnect was a central theme at a recent industry forum in Colombo, where Amitha Amarasinghe, Co-Founder and CEO of the Asia Pacific Institute of Digital Marketing, questioned why data literacy fails to translate into workplace behavior. Speaking at the “Brands: Listen, Learn and Lead” event, he described the phenomenon as a cultural paradox rather than a capability gap.

Marketers, he explained, are trained to analyze patterns and probabilities but are conditioned to rely on experience once they rise through the ranks. Over time, intuition becomes synonymous with seniority, creating resistance to evidence that challenges personal judgment. Amarasinghe stressed that this mindset—not technology or education—is the industry’s biggest obstacle.

The forum also examined how global brands are redefining competitive advantage through real-time intelligence. Angel Calinisan of Hootsuite noted that social listening has evolved beyond reporting past performance. Today’s platforms detect emerging risks and opportunities as they unfold, helping brands understand who is driving conversations and where momentum is building.

However, speakers noted that Sri Lankan companies often underutilize these tools. Muhammed Gazzaly of DAT – The AI Company pointed out that while organizations sit on vast pools of consumer data, they lack centralized ownership and strategic intent. Without leadership alignment, insights remain siloed and fail to inform growth initiatives such as cross-selling or customer acquisition.

Another challenge discussed was organizational inertia. Anubhav Khanduja from Talkwalker observed that large companies frequently stall due to over-analysis and fear of failure. He urged marketers to abandon the “sniper mindset” of waiting for perfect conditions and instead test ideas rapidly, adjusting course when results fall short.

The panel agreed that the local market is uniquely positioned to leapfrog competitors by combining global technology with nuanced cultural understanding. Yet this advantage will remain theoretical unless brands move beyond vanity metrics and instinctive decision-making.

As the discussion closed, the message was unmistakable: intuition has value, but unchecked intuition has a cost. Until Sri Lankan marketers allow data to challenge tradition, the gap between potential and performance will continue to widen

By: Staff Writer

February 09, Colombo (LNW): Serious questions surrounding environmental compliance, land ownership, and regulatory integrity have placed Sri Lanka’s first cable car project at Ambuluwawa under an intense spotlight, exposing alleged procedural violations and governance failures that span multiple State institutions. What began as a tourism infrastructure initiative has now evolved into a contentious national issue involving environmental protection, investor confidence, and public accountability.

Concerns resurfaced sharply following a joint inspection led by Environment Minister Dr. Dammika Patabendi on February 4, prompted by complaints from environmental organisations and members of the Gampola Pradeshiya Sabha. These complaints intensified after environmental damage reportedly emerged in the aftermath of Cyclone Ditwah. Construction activities at the site have since been temporarily suspended, pending a final determination by authorities.

During discussions at the Gampola Udapalatha Divisional Secretariat, officials acknowledged that the approval process under previous administrations may have breached several provisions of the National Environmental Act. It was revealed that mandatory public disclosures including Gazette notifications and newspaper advertisements had not been issued after environmental clearance was granted. Equally troubling were claims that opportunities for public consultation were actively blocked, undermining transparency and public participation.

The Department of Wildlife Conservation informed the Minister that portions of the project involved unauthorised construction on land belonging to the Department. Officials further disclosed that survey requests submitted repeatedly by the Divisional Secretariat to demarcate Wildlife Department land had gone unaddressed by the Survey Department for years, creating uncertainty over land boundaries and legal ownership.

Environmental activists have raised alarms over the ecological sensitivity of the Ambuluwawa Biodiversity Complex. Research cited by environmentalist Melani Gunathilaka records 428 species of flora and fauna within the area, including 69 endemic species, 58 nationally threatened species, and three classified as critically endangered. Critics argue that a full Environmental Impact Assessment (EIA) should have been mandatory, rather than the preliminary environmental study that was conducted.

Adding another layer to the controversy, the Young Journalists’ Association has lodged a complaint with the Commission to Investigate Allegations of Bribery or Corruption (CIABOC), alleging that the Central Environmental Authority (CEA) bypassed due process to favour the project, resulting in financial losses to the State.

Minister Patabendi has stated that while the Government remains open to investment, it will not compromise environmental safety, public welfare, or legal compliance. An expert committee has been appointed to examine all allegations, with its recommendations expected to determine whether the project will proceed or be permanently halted.

As investigations deepen, the Ambuluwawa cable car project stands as a test case for Sri Lanka’s environmental governance and a reflection of how the State balances development ambitions with ecological responsibility and rule of law.

By: Staff Writer

February 09, Colombo (LNW): Sri Lanka’s micro, small and medium enterprises are fighting for survival on multiple fronts. Even as businesses attempt to recover from years of economic turmoil, recent cyclone- and flood-related disruptions have delivered another blow one made heavier by rising borrowing costs driven by tight monetary policy.

Industry representatives warn that MSMEs are being pushed to the brink not simply by external shocks, but by structural weaknesses in the country’s lending and regulatory framework. According to the Ceylon Federation of MSMEs, policy responses since 2022 have failed to shield productive enterprises, while allowing financial institutions to protect and even expand profitability during national emergencies.

At the heart of the issue is the sharp escalation of lending rates following the Central Bank’s policy tightening. Businesses that borrowed under stable conditions prior to April 2022 suddenly found themselves exposed to extreme interest volatility an outcome they neither anticipated nor could absorb. Many MSMEs, already weakened by pandemic-era closures and supply chain disruptions, were left with ballooning repayment obligations just as consumer demand collapsed.

Natural disasters have compounded this pressure. Floods and cyclones have damaged inventories, halted operations, and disrupted cash flows, particularly for enterprises operating outside major urban centres. Yet unlike some regional counterparts, Sri Lanka has offered limited mandatory relief to borrowers affected by such calamities.

The Federation argues that reliance on voluntary guidelines and temporary concessions has repeatedly failed. During COVID-19, loan moratoriums were announced without clear rules on how interest should be treated. This regulatory ambiguity, they claim, allowed lenders to restructure facilities in ways that maximised returns, often through complex compounding mechanisms that borrowers struggled to decipher.

When repayment notices eventually arrived, many MSME owners were unable to obtain transparent breakdowns of how their liabilities had grown so dramatically. Requests for clarification, the Federation says, were frequently met with enforcement threats rather than restructuring support, including warnings of asset seizure under parate execution laws.

Such practices, they warn, are accelerating business closures and eroding trust in the financial system. The continued classification of distressed borrowers as non-performing—without accounting for repeated national shocks has further locked entrepreneurs out of formal credit markets, undermining recovery prospects.

To correct what it describes as systemic imbalance, the Federation is calling for legally binding reforms, including retrospective relief for excessive interest charged during the peak volatility period from mid-2022 to late-2024. It has also proposed a fiscally neutral mechanism to cushion banks from sudden losses, using tax credits spread over several years.

Without decisive intervention, MSME leaders caution that Sri Lanka risks losing not just businesses, but livelihoods, local supply chains, and the economic resilience needed to withstand future crises.

By: Staff Writer

February 09, Colombo (LNW): While headline indicators suggest Sri Lanka has stepped back from the brink, economists at the 40th Annual Sessions of the Sri Lanka Economic Association (SLEA) urged policymakers not to confuse short-term stability with long-term recovery. The central warning: without consistent policy direction and export-driven growth, the economy risks settling into prolonged low-growth equilibrium.

Sri Lanka’s economic recovery remains vulnerable due to persistent policy instability and weak growth foundations, economists warned yesterday, cautioning that recent macroeconomic stabilisation will not translate into durable revival without long-term structural reform and policy continuity.

Speaking yesterday at the opening of the 40th Annual Sessions of the Sri Lanka Economic Association (SLEA) at the BMICH, SLEA President Prof. Sirimevan Colombage said the country stood at a defining crossroads between hard-won stability and the risk of prolonged stagnation

Outgoing SLEA President Rev. Prof. Wijitaputra Wimalaratana placed current challenges in a historical context, arguing that Sri Lanka’s post-independence development strategy has remained inward-looking and defensive. Despite nearly eight decades of independence, the country has climbed only one World Bank income category since 1989, briefly reaching upper-middle-income status before sliding back.

This legacy continues to shape today’s vulnerabilities. Although foreign reserves have improved and inflation remains subdued, net usable reserves remain constrained when adjusted for swap obligations with China and India. Economists warned that such instruments, while useful for liquidity management, postpone rather than resolve external imbalances.

Interest rate policy was also scrutinised. Maintaining a 7.75% policy rate has supported price stability, but experts cautioned that limited policy flexibility could become risky if global financial conditions tighten or capital outflows accelerate in 2026. With foreign portfolio inflows still cautious and FDI subdued, foreign finance mobility remains fragile.

The balance of payments outlook, though improved, remains exposed. Export growth has not kept pace with import demand, and services exports despite their scale are not sufficiently tradable. Prof. Colombage emphasised that 88% of services output is domestically consumed, constraining foreign exchange generation and limiting growth potential.

Constructive criticism at SLEA focused on governance and policy credibility. Rev. Prof. Wimalaratana highlighted the absence of “policy locks,” noting that frequent reversals in land, investment, and tax policy undermine long-term planning. He called for cross-party consensus to preserve core economic policies for 15–20 years, arguing that transformation cannot occur within election cycles.

The message from the SLEA sessions was unambiguous: Sri Lanka’s challenge in 2026 is not crisis survival but economic redesign. Without stable policies, export-oriented services reform, and credible long-term commitment, recovery risks remaining superficial visible in numbers, but absent in lived economic reality.