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Imperial College of Business Studies (ICBS) hosted the Imperial College Academic Summit 2026. The event brought together academics, industry leaders, researchers and education professionals to discuss academic excellence and innovation in higher education.
Discussions centred on emerging trends in global education, the growing role of artificial intelligence, industry integration and graduate employability. The summit reinforced Imperial College’s focus on internationally recognised education and academic leadership in Sri Lanka.
Academic Director Pravinth Rajaratnam opened the programme with a welcome address. Dr. M. Ganeshamoorthy, Dean of Imperial College, followed with a presentation on the institution’s achievements and its plans going forward. He pointed to continued investment in academic quality, international partnerships and student outcomes.
Keynote addresses from industry experts covered digital transformation, industry expectations and the skills graduates need to compete: critical thinking, leadership and technological competency. Sessions focused on strengthening ties between academia and industry.
Representatives from Imperial College spoke to the institution’s commitment to globally recognised qualifications and industry engagement. The summit reflected the College’s aim of preparing graduates for both domestic and international careers.
Imperial College continues to expand its international partnerships and introduce new academic programmes.
Imperial College of Business Studies (ICBS) was established in 1985. The college offers business education in partnership with international institutions, with a focus on critical thinking, practical expertise and ethical leadership. ICBS prepares students for careers in business through industry-relevant programmes.
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The Ceylon Freight & Logistics Association (CEYFFA) has warned that Sri Lanka could be losing more than US$50 million annually in foreign exchange under the existing regulatory framework governing charges imposed on importers and exporters at the Port of Colombo via a regulation made by the previous regimes which is yet not been forwarded for relevant approval to the parliment.
Addressing a press conference in Colombo on Saturday, CEYFFA General Secretary Inam Caffoor said the existing system was resulting in foreign currency being paid to overseas parties in connection with terminal and other some of the shipping-related charges, thereby placing additional pressure on the country’s foreign exchange position.
He said the association had repeatedly brought the matter to the attention of successive governments and had also challenged the relevant regulations in court.
According to CEYFFA, a key concern is the treatment of Terminal Handling Charges (THC), which are costs associated with the handling of containers at ports while been discharged and loaded to delivery.
The association has called for the Government to review the existing regulatory framework and take steps to prevent what it describes as unnecessary foreign exchange leakage from the country’s logistics sector.
In a letter to President Anura Kumara Dissanayake and other concerned officials CEYFFA said the industry had made repeated representations against regulations introduced by previous administrations, warning that they would increase costs and adversely affect the country’s foreign exchange position.
The association has specifically called for the reversal of Gazette No. 2334/26 relating to the structure of charges applicable to shipping agents, freight forwarders, Non-Vessel Operating Common Carriers (NVOCCs) and container operators.
The dispute has its roots in the all-inclusive freight regime introduced through Gazette No. 1842/16 in 2013 and strengthened by Gazette No. 2041/10 in 2017. Under that framework, charges relating to the carriage of containerized cargo, including terminal handling charges, were to be incorporated into an all-inclusive freight rate rather than recovered later separately from parties not contractually liable for the charges.
The regulations subsequently became the subject of a legal dispute. In 2022, the Shipping Ministry introduced changes to the charging structure, which were challenged in court. The subsequent legal and regulatory developments resulted in Gazette No. 2321/62 being issued in March 2023 to rescind the 2017 regulations. The all-inclusive freight framework was subsequently restored through Gazette No. 2334/26.
Caffoor said the industry had expected corrective action following the court proceedings, but claimed that a Gazette prepared to rectify the situation had not been submitted to the present Cabinet of Ministers or Parliament for the necessary approval.
He also complained that the association had been unable to obtain an appointment with President Dissanayake to directly discuss the industry’s concerns.
CEYFFA’s letter further claimed that demands by terminals and operators for payments in US dollars had increased the financial burden on local logistics companies and the demand for foreign currency.
The association has therefore urged that payments for services provided within Sri Lanka be made in Sri Lankan rupees in accordance with the country’s foreign exchange regulations.
CEYFFA has also called for the establishment of a consultative regulatory mechanism involving all relevant stakeholders to determine charges and address operational problems in the shipping and logistics industry.
The association said such a mechanism should include representatives of shipping lines, freight forwarders, NVOCC operators, customs brokers, terminal operators and other stakeholders, with the regulatory framework reviewed periodically according to prevailing market conditions.
The call comes amid renewed debate over Colombo’s competitiveness as a regional shipping and logistics hub.
The Sri Lanka Association of NVOCC Agents(can we make this as CEYFFA) recently warned that continued uncertainty over THC was making Colombo less commercially attractive compared with competing regional destinations and called for the Government to expedite a committee to examine the issue.
However, the National Chamber of Exporters has taken the opposite position, urging the Government to retain the existing all-inclusive freight framework. It has warned that allowing separate THC to be charged over and above negotiated freight rates would increase costs for exporters and importers, with the additional costs eventually being passed on to consumers.
The NCE has also pointed out that the Sri Lanka Ports Authority’s own tariff does not use the term “Terminal Handling Charge” and has argued that relevant stevedoring costs should be incorporated into the freight paid to the shipping line rather than imposed separately on importers and exporters.
Caffoor said that the Government should urgently review the entire system and introduce a regulatory mechanism that protects Sri Lanka’s foreign exchange position while “ensuring that Colombo remains competitive as a regional maritime hub as we are breaching all international practice used by HUB ports. Our markets are sooner to be lost for Indian ports.”
Continue Reading Business Ceylinco Life sales team sharpens leadership skills in Malaysia Published
An eight-member team from Ceylinco Life recently participated in a four-day leadership training programme in Kuala Lumpur, Malaysia, designed to strengthen agency management capabilities and equip the company’s sales leaders with practical strategies to enhance branch performance.
Conducted under the theme ‘Lead Forward, Build.’ the programme covered key areas including digital engagement for insurance professionals, performance management, leadership enhancement and development, and the creation of office environments that support and drive sales.
The training was facilitated by five accomplished Group Sales Managers from Great Eastern Life Insurance in Malaysia and Singapore, led by industry veteran K. Haridas. Combining knowledge-sharing with practical application, the programme challenged participants to address real-life branch management issues through a group exercise in which two teams assessed existing situations, identified root causes and implications, and developed action plans to tackle the challenges more effectively.
Participants also gained hands-on experience in creating videos and digital content for social media platforms and developing Agency Management Blueprints to address specific branch-level challenges. The programme provided valuable insights and actionable strategies to strengthen agency leadership, improve branch management and enhance overall performance.
Representing Ceylinco Life were one Zonal Manager, four Regional Sales Managers, two Agency Heads and a representative from the company’s Head Office.
Continue Reading Business ComBank launches dedicated loan scheme to revitalise Sri Lanka’s tea industry Published
The Commercial Bank of Ceylon has introduced a dedicated loan scheme to revitalise Sri Lanka’s tea industry, demonstrating its strategic initiatives designed to penetrate the Small and Medium Enterprise (SME) sector and the rural micro-economy and catalyse sustainable growth across the national tea industry.
The new loan scheme enables tea smallholders to invest in the renewal of ageing tea fields, improve cultivation practices and strengthen the productivity and sustainability of one of the country’s most important export sectors.
The ‘Revitalizing the Sri Lankan Tea Sector’ Loan Scheme, developed in collaboration with the Sri Lanka Tea Factory Owners Association (SLTFOA) and participating tea factories, seeks to address a critical constraint facing the industry: limited access to affordable financing for the long-term investments needed to sustain tea production and improve farmer incomes.
Sri Lanka’s tea industry generated approximately US$ 1.51 billion in export revenue in 2025 and supports more than 400,000 tea smallholder families, contributing to the livelihoods of nearly 1.5 million people across rural communities. Yet, despite the global reputation of Ceylon Tea, the sector faces challenges including declining national production, ageing tea bushes, inadequate replanting, soil degradation and the financial constraints that prevent many farmers from investing in more productive cultivation.
Tea smallholders account for more than 70% of national tea production, making their capacity to maintain and improve their lands central to the future of the industry. By directing financing towards essential cultivation improvements, Commercial Bank said this timely initiative aims to help address these challenges while safeguarding the rural communities whose livelihoods depend on tea.
The scheme’s distinguishing feature is its industry-linked financing model, which brings together the Bank’s financial expertise, the SLTFOA’s industry network and the tea factories maintained by tea smallholders. Moving beyond standard banking services, this collaborative approach is designed to connect eligible farmers with the funding they need to renew their tea lands and improve productivity.
The financing is available for replanting and infilling, soil rehabilitation, land preparation, the purchase of certified planting material and agricultural inputs, nursery establishment, mechanisation, modern agricultural practices and irrigation systems. These investments are intended to help farmers replace ageing bushes, fill vacant spaces in existing fields and make more productive use of their tea-growing land.
Under the scheme, eligible tea smallholders can obtain loans of up to Rs. 1 million per acre for replanting and infilling, or up to Rs. 1.5 million per acre for replanting and infilling with an irrigation system. The loan scheme has been designed with tailor made features to support tea cultivation projects. Repayments will be made through deductions linked to green-leaf deliveries to factories, with a corporate guarantee from the tea factory serving as security.
Eligible applicants must be registered tea smallholders supplying green leaf to recognised tea factories that are members of the SLTFOA. Applicants must also meet the Bank’s lending and repayment-capacity requirements. Priority will be given to farmers with aged tea bushes, low-productivity holdings and those undertaking replanting or rehabilitation, while female participation will be encouraged, the Bank said.
Commercial Bank’s initiative reflects its recognition that the long-term health of the tea industry is closely linked to the economic resilience of rural Sri Lanka. By helping tea smallholders overcome financial barriers to essential cultivation investments, the scheme seeks to support stronger productive capacity, more sustainable farming operations and improved income-generating potential.
Beyond its immediate beneficiaries, the initiative is intended to contribute to the continued competitiveness of Ceylon Tea in international markets by supporting a healthier production base. It also demonstrates how collaboration between financial institutions and industry stakeholders can help address structural challenges in agriculture, where the benefits of investment often depend on a longer-term commitment to land, cultivation and productivity.
Through the ‘Revitalizing the Sri Lankan Tea Sector’ Loan Scheme, Commercial Bank is extending its role beyond financing to supporting the renewal of a vital national industry, helping tea smallholders invest in the future of their lands, their livelihoods and Sri Lanka’s enduring tea heritage.
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