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When global armed forces including the US Marine Corps and NATO allies seek advanced military simulation software, they rely on technology engineered right here in Colombo. For seventeen years, SimCentric has proved that Sri Lanka can create world-class intellectual property rather than just supply offshore talent.
Reflecting on this growth, Haridhu Abeygoonaratne, Managing Director and COO of SimCentric and Vice Chair of SLASSCOM, notes that every core product is designed by local graduates. For knowledge-based businesses, a globally friendly operating environment is vital for swift expansion.
Sri Lanka’s ICT sector is a major economic anchor. Ranking as the country’s third-largest export sector, it encompasses over 400 companies and 140,000 professionals, with total exports crossing the US$2 billion mark according to SLASSCOM.
Yet, international investors emphasize the need to scale globally without relocating abroad. This is where Port City Colombo offers strategic value. Beyond a physical development, Abeygoonaratne highlights it as a vital platform providing regulatory stability – currency flexibility, and access to global capital – key ingredients that build long-term investor confidence.
“Ultimately, purpose-built business ecosystems help local enterprises turn home-grown ideas into globally recognised products, cementing Sri Lanka’s future as an international business hub”, he says.
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The All Ceylon Jamiyyathul Ulama (ACJU) has highlighted the importance of inclusive economic development, equal opportunities and stronger people-to-people ties in Sri Lanka’s engagement with China, stressing that international partnerships must benefit communities across the country.
The issue was discussed when Chinese ambassador Wei Huaxiang recently met ACJU General Secretary Ash-Sheikh M. Arkam Nooramith and members of the organisation’s Executive Committee to discuss bilateral relations, cultural and educational cooperation, minority communities and China’s role in the Global South.
Nooramith said the ACJU had emphasised the importance of ensuring that all ethnic and religious communities were treated with dignity, equality and respect, with inclusive development remaining a fundamental priority.
“As a country with a rich multi-ethnic and multi-religious heritage, Sri Lanka has much to gain from strengthening mutual understanding and fostering trust among its diverse communities,” he said.
The discussions carry significance beyond diplomatic relations, as Sri Lanka continues to pursue economic recovery, attract investment and strengthen international partnerships.
Ensuring that the benefits of economic development reach different regions and communities remains an important consideration in achieving sustainable growth.
For Sri Lanka, cooperation with China extends across infrastructure, trade, education and other sectors.
The extent to which such partnerships translate into economic opportunities, improved livelihoods and broader participation in development remains important to the country’s long-term economic prospects.
Nooramith said the ACJU had also discussed China’s experience in managing a diverse population, with ambassador Wei explaining the country’s approach to the welfare and development of its more than 56 recognised ethnic groups.
The exchange provided an opportunity to consider the relationship between social inclusion and national development, particularly the importance of ensuring that communities are treated fairly and have opportunities to participate in economic and social progress.
The ACJU also highlighted the role of China as a major member of the Global South, calling for continued constructive engagement to promote international peace, strengthen friendly relations and encourage greater cooperation among nations.
“At a time when the world faces numerous conflicts and geopolitical challenges, the need for dialogue, peaceful coexistence and mutual respect has become increasingly important,” Nooramith said.
For developing economies, international cooperation is particularly important amid geopolitical uncertainty, changing trade relationships and the need to secure sustainable sources of investment and economic growth.
Stronger engagement among countries of the Global South can provide opportunities for cooperation in trade, education, technology and development, although the benefits depend on how effectively such partnerships are implemented.
The ACJU expressed the hope that the Chinese Embassy would continue to engage positively with Sri Lanka’s diverse communities and institutions, contributing to cultural understanding, educational cooperation, social harmony and stronger people-to-people relations.
Ambassador Wei reaffirmed that China’s friendly policy towards Sri Lanka was directed at the Sri Lankan people as a whole, according to the Chinese Embassy’s account of the meeting.
Counsellor Ji Lili, who is responsible for cultural and educational affairs at the Chinese Embassy, also attended the meeting.
The discussions highlighted the importance of maintaining strong bilateral relations while ensuring that economic and social development remains inclusive. For Sri Lanka, the challenge is to translate international cooperation into tangible benefits for its people while strengthening social cohesion and creating opportunities across communities.
The meeting also reflected the potential for cultural and educational engagement to complement economic diplomacy by building trust, developing institutional links and encouraging closer interaction between the peoples of the two countries.
The Automobile Association of Ceylon (AAC) and Würth Lanka recently signed a Memorandum of Understanding (MoU) with the objective of providing special discounts on products and services offered by Würth Lanka to AAC members.
This partnership is aimed at extending exclusive benefits to AAC members, enabling them to enjoy special discounts and privileges when purchasing products and obtaining services from Würth Lanka.
The MoU formalises the mutual understanding and cooperation between the two organizations, further strengthening their relationship while enhancing the benefits and privileges available to AAC members.
The MoU was signed by the representatives of both organizations.
Asia Asset Finance PLC (AAF), a subsidiary of Muthoot Finance Limited and a member of the Muthoot Group, recorded a 110% year-on-year increase in Profit After Tax (PAT) to Rs. 838.5 million for the six months ended 30 September 2026, compared with Rs. 400 million in the corresponding period last year.
Profit Before Tax increased by 140% to Rs. 1.62 billion. During the six-month period, interest income grew 75% year-on-year to Rs. 6.86 billion, while net interest income increased 92% to Rs. 3.78 billion. Annualised Return on Equity reached 28.5%.
Commenting on the results, Rajiv Gunawardena, Chief Executive Officer of Asia Asset Finance PLC, said: “Deliberate cost controls and continued digitisation have helped us contain costs and improve efficiency, while prudent allocation of funds to quality assets offering better yields has strengthened profitability. With the commitment of our people and the backing of the Muthoot Group, we remain focused on responsible growth and lasting value for customers and shareholders.”
AAF’s total assets reached Rs. 66.63 billion as at 30 September 2026, an increase of 24% from 31 March 2026. Net loans and advances stood at Rs. 51.88 billion, supported by demand for secured lending, with gold loans accounting for approximately 73% of the lending portfolio.
Deposits increased 37% over the six months to Rs. 35.51 billion, reflecting continued customer confidence. Shareholders’ funds rose 47% during the same period to Rs. 7.01 billion, strengthened by the successful Rs. 1.50 billion rights issue and retained earnings.
Asset quality improved year-on-year, with the gross non-performing loan ratio declining to 7.6%, from 9.4% a year earlier, reflecting continued attention to portfolio quality and risk management.
Through its nationwide network of 125 branches, AAF continues to expand access to financial services. Women represent 56.6% of its active customer base, supporting the company’s focus on financial inclusion and women’s economic empowerment.
With a heritage spanning more than 55 years and a Fitch A+(lka) rating with a Stable Outlook, AAF remains focused on expanding its secured lending portfolio, strengthening digital capabilities and delivering sustainable long-term value to customers, shareholders and the wider Sri Lankan economy.
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