Business Today

Business Today Sri Lanka's premier monthly business magazine features an interesting line up of eminent personaliti have also been featured in the magazine.

The magazine of the corporate world, Business Today features an interesting line-up of interviews with eminent personalities who impact the corporate, commercial and economic sectors. The monthly magazine also includes exclusive articles syndicated from the Harvard Business Review and Financial Times. It has also featured the monthly columns by Richard Branson and Howard Schultz. International interviews featured include Sir Richard Branson, Paul Allen, Howard Schultz, Omar Bin Laden and Sir Jonathan Ive. Articles penned by President Barack Obama and Vice President Joe Biden Jr.

Business Today September 2026This edition of Business Today features interviews with Nahil Wijesuriya, Chairman and CEO ...
02/09/2026

Business Today September 2026

This edition of Business Today features interviews with Nahil Wijesuriya, Chairman and CEO of the EastWest Group of Companies; Ashoka Siriwardena, Chairman of Wardena Venture Holdings; architect Rajiv Senanayake of Design Forum; and Ranil
Gunasekara, Founder of Vitto Pizza. There are articles on Tata, Elon Musk, and many more.

Visit: https://businesstoday.lk/

Nahil Wijesuriya: “I Have More Ideas Than I Have Money” Nahil Wijesuriya is a businessman whose entrepreneurial journey ...
02/09/2026

Nahil Wijesuriya: “I Have More Ideas Than I Have Money”

Nahil Wijesuriya is a businessman whose entrepreneurial journey has been shaped by an instinct to identify opportunities, take calculated risks, and remain closely involved in the businesses he builds. As Chairman and CEO of the EastWest Group of Companies, he built and managed interests spanning real estate, shipping, bunkering, information technology, electronic media, and financial services, moving across industries while maintaining a distinctly hands-on approach to business.

Speaking with Business Today, Wijesuriya reflects on the influences that shaped his entrepreneurial character, the origins and evolution of EastWest, and the lessons accumulated over decades of doing business across diverse industries.

He discusses the importance of understanding an opportunity before committing to it, the value of remaining involved in the businesses he leads, and how his approach has evolved as the scale and complexity of his interests have grown.

You trained as an engineer, worked at sea, and eventually became an entrepreneur. At what point did you realize you were more interested in building businesses than pursuing a career within an organization?

I had a career with the Shipping Corporation. I was involved in managing the technical side of the ships and eventually became Chief Engineer at the Colombo Dockyard. That was a major achievement for me, and I am still proud of it.

While sailing, we also experienced shipping agents around the world. Every port had an agent who was supposed to understand the ship’s requirements, but often the people handling those responsibilities were essentially wharf clerks rather than people who understood ships.

My partner at the time, Captain Lester Wyman, was handling operations, while I was the technical manager. Between us, we understood exactly what a shipowner, captain, or chief engineer required. So we established East West Enterprises as a shipping agency.

At that time, most of the established shipping agencies were owned by lawyers or accountants. We were different because we were seafarers running a shipping agency. When you went on board a ship, you could speak directly to the captain or chief engineer and understand what they needed without them having to explain everything. That allowed us to provide services and materials quickly.

Within about two years, we had become very successful in shipping agency work. We also handled chartering requirements for the Shipping Corporation.

So it was a natural progression. We understood shipping from the inside, which gave us the confidence to expand into other aspects of the industry.

How did your first move into shipowning come about?

There was an interesting opportunity with Sri Lanka Shipping. People often assume that the Shipping Corporation was our first shipowning venture, but Sri Lanka Shipping preceded it.

Robert Senanayake, a younger brother of Dudley Senanayake, approached us and suggested that we acquire a substantial stake in Lanka Shipping, which the family owned, since we already understood the shipping business.

At the time, the company had a ship called St George on charter between the Middle East and Latakia. I asked, “Why is the ship on charter? Why don’t we buy it?”

Nihal Amarsinghe, a director with excellent banking relationships, helped arrange the financing. Interestingly, the company did not even have five years of properly audited accounts. The banks were essentially looking at the people involved rather than at the accounts, and they decided to lend us the money.

We bought the ship and repaid the loan within a year. We renamed her Maha Nuwara, which is the Sinhala name for my home, Kandy.

Eventually, we acquired 100 percent of Sri Lanka Shipping. That became an important step in our evolution from a shipping agency to a shipowner, and later into other areas of the maritime industry, including offshore bunkering.

What did you see in 1977 that convinced you Sri Lanka was ready for a new kind of business?

We were emerging from a very restrictive economic environment and moving towards the liberalized economy introduced under J R Jayewardene. I thought that this might finally be a time when we could do something ourselves.

The restrictions of the previous period had been extraordinary. Imports were so scarce that people even sent Wilkinson razor blades in envelopes because locally available products were scarce.

The name EastWest Enterprises actually came from an idea I had to trade between East and West. I had originally registered a company in the UK. Later, when we needed a name for a business in Sri Lanka, we used the same name.

We had no grand business plan at the beginning. In fact, the first thing I bought under the EastWest name was 24 Parker pens at a trade discount. I thought I would sell them, but every friend who visited took one as a gift. Within a short time, all 24 were gone, and we had made no business at all! That was EastWest’s first transaction.

Read more: https://businesstoday.lk/nahil-wijesuriya-i-have-more-ideas-than-i-have-money/

Tata at a Crossroads The impending departure of Natarajan Chandrasekaran from the chairmanship of Tata Sons is not merel...
02/09/2026

Tata at a Crossroads

The impending departure of Natarajan Chandrasekaran from the chairmanship of Tata Sons is not merely another executive succession at the summit of Indian business. It is an institutional moment for the Tata Group, bringing into sharper focus the delicate relationship between ownership and professional management within one of the world’s most unusual corporate structures.

Chandrasekaran has announced that he will not seek another term when his present tenure concludes on February 20, 2027, and until then, he remains Chairman of Tata Sons. That distinction is important. This is not an abrupt resignation from the Tata empire, but a decision not to continue beyond the existing mandate. Nevertheless, the circumstances surrounding that decision have transformed what might otherwise have been an orderly succession into a much larger discussion about governance, capital allocation, shareholder interests, and the future distribution of authority at the top of the Tata Group.

Tata is no ordinary conglomerate. Tata Sons is the principal investment holding company and promoter of the Tata Group, while around two-thirds of its equity is held by philanthropic trusts. Beneath Tata Sons sits an extraordinary collection of businesses spanning information technology, automobiles, steel, power, aviation, hospitality, consumer products, financial services, electronics, and emerging technologies. Many of these companies are publicly listed, with their own boards, shareholders, and management teams. The result is an architecture in which commercial enterprise, professional management, long-term ownership, and philanthropy coexist on a scale almost without parallel in global capitalism. It is also an architecture that inevitably raises a fundamental governance question: when strategic differences arise, where does ultimate authority reside?

Read more: https://businesstoday.lk/tata-at-a-crossroads/

From BITUMIX to WARDENA: 25 years of Building, Evolving and Looking Ahead Ashoka Siriwardena, Chairman of Wardena Ventur...
02/09/2026

From BITUMIX to WARDENA: 25 years of Building, Evolving and Looking Ahead

Ashoka Siriwardena, Chairman of Wardena Venture Holdings, has spent the past 25 years building businesses by identifying opportunities where others saw limitations. From establishing Bitumix in 2000 establishing Wardena Holdings with eleven vertical business entities his journey has been defined by diversification, product innovation, and a willingness to compete in sectors where the odds were not always in his favor.

What was the business opportunity you saw in processed bitumen when Bitumix was established in 2000?

The company was registered in 2000, and we built the factory and entered the market in 2001. At the time, there was only one company on the supply side of the bitumen market – my former employer, Lankem Ceylon, which was a Shell subsidiary.

I had worked there for about 14 years. After leaving Lankem, I spent around three years with two more corporates in Sri Lanka and three years overseas before returning to Sri Lanka and deciding to start my own business.

On the demand side, road construction and maintenance were active, and there was a steady requirement for bitumen despite the ongoing war. I saw an opportunity to meet that demand.

I had considerable industry knowledge, having worked in the business for many years, and a strong desire to become an entrepreneur. I knew I would be competing with an established player such as Lankem, particularly given its association with a multinational company. Nevertheless, I believed there was room for another supplier and decided to take the opportunity and build the business. My intention was to build a technically sound manufacturer of bitumen value-added products for the country.

What were the biggest barriers to building a manufacturing business in Sri Lanka at that time?

Funding was one of the main barriers. Setting up a manufacturing business requires significant capital for infrastructure, buildings, machinery, raw materials, and working capital. Securing that funding was a challenge.

Another challenge was obtaining the necessary approvals from the relevant authorities. This involved a number of statutory requirements, from the Grama Niladhari and Public Health Inspector to the Pradeshiya Sabha and the Central Environmental Authority. At the time, the approval process was not particularly smooth, making it more difficult to set up the business.

There was also the challenge of developing the right product, obtaining the required quality certifications, bringing it to market, and building customer acceptance. This was a specialized technical market, so establishing credibility and gaining acceptance took time.

Launching the business on my own and competing with an established company such as Lankem was another significant challenge. However, I approached each of these challenges carefully and worked through them step by step.

You have remained in a business that is closely connected to construction and infrastructure. How much of Bitumix’s growth has depended on the growth of the industry, and how much has come from creating new applications and markets for bitumen?

We built Bitumix around three principles: quality, customer service, and innovation. We have never compromised on quality because we see our role as serving an important national infrastructure requirement. Customer service was equally important. We worked closely with project and technical teams to understand their requirements and made reliable, on-time delivery a priority. In road construction, delays in receiving bitumen can hold up an entire project, so whether the requirement was in Mannar, Hambantota, or Trincomalee, we focused on providing on-time delivery.

Innovation was the third pillar. We continually evaluated how products could be improved and developed a broader portfolio beyond conventional refinery-grade bitumen, including emulsified, cutback, oxidized, and polymer-modified bitumen. We then moved beyond road construction into applications such as waterproofing and industrial uses, including the tire and solid-tire industries. This helped reduce our dependence on road construction alone. We also invested in technical education by conducting technical awareness sessions with universities and the Road Development Authority to promote better understanding and use of bitumen products. So, while infrastructure development created the underlying demand, our growth came from creating value through quality, service, innovation, product diversification, and technical knowledge. That helped us compete with a much larger established player and become a preferred supplier within three to four years.

Read more: https://businesstoday.lk/from-bitumix-to-wardena-25-years-of-building-evolving-and-looking-ahead/

The Next Chapter of Design Forum As Design Forum enters its next chapter, architect Rajiv Senanayake reflects on the pra...
02/09/2026

The Next Chapter of Design Forum

As Design Forum enters its next chapter, architect Rajiv Senanayake reflects on the practice’s evolution, resilience amid Sri Lanka’s economic crises, and growing international ambitions.

Speaking with Business Today, he discusses the firm’s expansion into Ghana and West Africa, plans to develop its interior design and project management capabilities, and the opportunities and challenges facing Sri Lanka’s architectural profession.

Design Forum has now entered a new chapter with you as its sole owner. What does this transition mean for the company, and how do you see the business evolving under your leadership?

It was a significant change after 23 years of working with a partner, but when I took over as the sole owner, the team remained together. We have always worked as a family, and that continuity made the transition much smoother. The responsibilities were now entirely mine, but the staff supported me through it, particularly as we were coming out of COVID and the economic crisis.

Fortunately, we continued to receive work, which allowed us to sustain the business through that period. We managed to pay everyone without cutting salaries and continued operating every month, even during the most difficult periods. Apart from a few team members who left to pursue opportunities overseas, the rest of our staff remained committed, determined, and understanding of the challenging circumstances we were facing.

Now, as we enter our 26th year, the transition feels seamless. The team has remained intact, and we have also welcomed the next generation, with my son joining the practice as an architect, spearheading the next chapter of Design Forum and expanding the business into new dimensions. So, while the ownership structure has changed, the way we work has not. We have remained a team, and that continuity has been central to how Design Forum has moved into this next chapter.

Design Forum has survived several difficult economic cycles, but the 2022 crisis was arguably the most severe challenge Sri Lankan businesses faced. How did you navigate the company through that period?

Even before the crisis, my approach was that we should not try to grow too quickly. We needed to maintain a steady pace rather than take on excessive risk. That approach helped us during the 2022 crisis because we were operating at a sustainable level and did not have to make drastic adjustments. We continued to secure work and maintain our operations.

Some clients were understandably concerned and scaled back their projects. We responded by encouraging them to continue with renovations and improvements to their existing properties rather than invest in new buildings. This led us to expand our focus to renovations, including upgrades to offices and commercial premises. Clients who were reluctant to move into new buildings were instead willing to invest in improving the spaces they already had.

We also saw an opportunity in the hospitality sector. During COVID, Browns Hotels acquired several properties and began preparing them for the recovery of tourism. We became involved in the renovation of around three of their hotels. This shift towards renovations and hospitality projects helped us maintain our workflow. So, navigating the crisis was largely about staying at a sustainable level, understanding how our clients were responding to the situation, and adapting our services to meet their changing needs.

Read more: https://businesstoday.lk/the-next-chapter-of-design-forum/

Building Vito: A Different Slice of the Pizza MarketFrom its beginnings as a small pizza operation in Kandy, Vito Wood F...
02/09/2026

Building Vito: A Different Slice of the Pizza Market

From its beginnings as a small pizza operation in Kandy, Vito Wood Fired Pizza has grown into a multi-outlet brand with a presence in Colombo, Negombo, Galle, and the City of Dreams. Founded by Ranil Gunasekara, who has a background in finance and hospitality. The business was developed by combining locally sourced ingredients, wood-fired preparation, and an emphasis on affordability. Its expansion has been shaped by a willingness to adapt.

Speaking with Business Today, Gunasekara discusses Vito’s evolution, the thinking behind its expansion strategy, the importance of its people, and the opportunities and challenges that lie ahead.

Why pizza, and why wood-fired pizza? What made you believe that Sri Lankan consumers would embrace a product that was relatively unfamiliar to the mainstream market at the time?

It was certainly a challenging proposition. We initially focused on tourists because, at the time, I was operating a hotel on lease, and our Vito range of wood-fired pizzas was primarily offered to foreign guests. However, from 2017 onwards, a number of developments began to affect the tourism sector, most notably the 2019 Easter attacks. This had a significant impact on tourist arrivals and prompted us to rethink how we could take the business forward.

That was when we decided to introduce Vito pizza to the Sri Lankan market. We subsequently developed the brand specifically for local consumers, positioning it around the concept of wood-fired pizza. We also built our marketing strategy around Garfield, the much-loved cat who inspired the Vito name. Garfield became central to our promotional campaigns and helped us connect with a younger audience, particularly children, while making the product more familiar and approachable to Sri Lankan consumers.

You started Vito in Kandy rather than Colombo. Was that a deliberate business decision, and what did Kandy offer you that Colombo did not at that stage?

Vito’s beginnings in Kandy were largely due to the business environment in which I was already operating. My background is in accountancy, and I had worked in finance within the hospitality sector before establishing a management company to operate hotel properties that we had leased. Our model involved leasing buildings, converting them into hotels, and managing them primarily for the tourism market.

One of the properties we managed was Kandy City View, located on Saranankara Road near Kandy Lake. Its restaurant became the starting point for developing and introducing our pizza range. Saranankara Road is a popular area for tourists, with several established hotels in the vicinity, which provided us with a natural customer base and the impetus to experiment with a new food concept.

We initially served the pizzas during the evenings, primarily catering to tourists staying in the area. Therefore, starting Vito in Kandy was not so much a decision to choose Kandy over Colombo as a natural extension of the hospitality business we were already operating there. The presence of our hotel, the concentration of tourists, and the location itself provided the right environment for us to test and develop the concept before taking it further.

What experience in pizza making did you possess when you decided to venture into the business?

I did not come into the business with specialized experience in pizza making. My background is in finance within the hospitality industry, which gave me broad exposure to how different departments of a hotel operate. That experience eventually gave me the confidence to move beyond formal employment and establish my own hotel management business, leasing buildings, converting them into hotels, and managing them. Hotel management was therefore my first entrepreneurial venture, and it was the knowledge and experience I gained from that business that I brought to Vito.

When we first introduced pizza at one of our hotels, the restaurant served only breakfast and was underutilized during the rest of the day. We saw an opportunity to use the space in the evenings and brought in chefs to develop a range of pizzas for dinner. The response from tourists and customers in Kandy was positive, and at one point, the restaurant was ranked number one on TripAdvisor among nearly 300 restaurants and cafés in Kandy. That gave us the confidence to develop the concept further.

Our team has also been central to Vito’s growth. Several members of our original team, who joined in 2017, stood by the business through COVID-19 and later played an important role in our expansion from Kandy to Colombo.

Today, Vito is very much a team-driven business. Our Head Chef, F&B Manager, Operations Manager, Accountant, and other senior employees manage the day-to-day operations. Their experience and commitment have been essential to building and growing the business.

Vito began with a very small team. How has your role evolved from building the first restaurant to managing a growing multi-outlet business?

Our first outlet outside Kandy was at Independence Arcade in Colombo. Traditionally, restaurant brands expand from Colombo to other parts of the country, so bringing a brand from Kandy into Colombo created curiosity. We deliberately built our marketing around that story, and the response was strong from the first day.

The expansion also changed how I managed the business. Instead of creating a new management structure in Colombo, I promoted experienced members of our Kandy team and gave them greater responsibility. This became the foundation of our expansion strategy. I move on to a new outlet only when I am confident that the existing team can operate independently.

We followed the same approach as we expanded to Peradeniya, Negombo, Galle, and the City of Dreams. Today, our six outlets are managed by outlet managers and head chefs, with support from a Group Head Chef, F&B Manager, Group Accountant, and Operations Manager.

My role has therefore evolved from being directly involved in the day-to-day running of the first restaurant to building the people, systems, and processes that allow the business to operate effectively without my constant involvement. That has been essential to managing our growth.

Opening an outlet at City of Dreams was a significant decision in your expansion strategy, particularly given that the development was still establishing itself. What factors did you consider when deciding to enter this location?

City of Dreams was a development I wanted Vito to be part of from the outset. I had also considered One Galle Face, but felt it was already well served by food and beverage outlets. City of Dreams, by contrast, was still developing, with new components such as the cinemas expected to become operational in October. We were also approached by management about opening an outlet there.

When we first visited, we recognized that the Shops had not yet attracted significant daily footfall. While the hotel was performing well, the retail component was still building its customer base. We felt Vito could contribute by offering an accessible food option and giving people another reason to visit.

We also did not want to reposition Vito as a premium brand simply because we were entering the City of Dreams. The brand has always remained true to its Kandy roots, with affordability and accessibility at its core. Our objective is to make good pizza accessible to a broad customer base, and that philosophy continues to guide our marketing.

Our opening day at City of Dreams generated the longest queue we have experienced for a new outlet, supported by attractive opening offers. That response reinforced our belief that there was demand for an affordable food offering within the development.

Read more: https://businesstoday.lk/building-vito-a-different-slice-of-the-pizza-market/

SriLankan Airlines gears up for Raid Amazones 2026 as Official Airline PartnerSriLankan Airlines is gearing up for Raid ...
02/09/2026

SriLankan Airlines gears up for Raid Amazones 2026 as Official Airline Partner

SriLankan Airlines is gearing up for Raid Amazones 2026 as the Official Airline Partner. One of France’s most popular all-women adventure races, Raid Amazones features a series of challenges. The partnership, announced at a press conference, reinforces the airline’s commitment to promoting Sri Lanka as a premier adventure tourism destination through impactful international collaborations. The event was attended by the Deputy Minister of Tourism, the French Ambassador to Sri Lanka, the President and Co-Founder of Raid Amazones, the Chairman of the Sri Lanka Tourism Board, the Head of Marketing of SriLankan Airlines, and the Chairman of Connaissance de Ceylan.

Scheduled to take place from November 1–11, 2026, in Kalutara, Raid Amazones will welcome more than 150 French female participants, competing in teams of two or three across a series of adventure challenges, including trail running, mountain biking, canoeing, horse riding, orienteering, archery, and treasure hunting. With more than 250 international participants, officials, and media representatives expected to attend, the event will showcase Sri Lanka’s diverse landscapes and rich cultural heritage to audiences across France and beyond.

Yasantha Dissanayake, Acting CEO, SriLankan Airlines, said: “We are delighted to once again partner with Raid Amazones, an event that perfectly reflects Sri Lanka’s growing appeal as a destination for adventure and experiential travel. Through our direct connectivity between Paris and Colombo, and partnerships of this nature, SriLankan Airlines continues to play a pivotal role in bringing international travelers to our shores while showcasing the country’s unique experiences to the world.”

Read more: https://businesstoday.lk/srilankan-airlines-gears-up-for-raid-amazones-2026-as-official-airline-partner/

HNB reports strong first-half growth with a 224 billion rupee increase in advances Hatton National Bank (HNB) recorded s...
02/09/2026

HNB reports strong first-half growth with a 224 billion rupee increase in advances

Hatton National Bank (HNB) recorded strong growth across its core banking operations during the first half of 2026, navigating a period marked by economic volatility and inflationary pressures while maintaining sound asset quality, capital and liquidity.

For the six months ended June 2026, HNB Group reported a Profit After Tax (PAT) of 22.5 billion rupees, while the Bank recorded a PAT of 23.1 billion rupees.

The performance was supported by significant balance sheet expansion, with advances increasing by 224 billion rupees and deposits growing by 138 billion rupees during the period. Despite the rapid expansion of its lending portfolio, the Bank maintained strong asset quality, recording a Net Stage 3 ratio of 1.17 percent.

The Bank’s Net Interest Income increased by 21 percent year-on-year to 55.2 billion rupees, supported by strong lending momentum. The increase in interest income from loans and advances helped offset funding cost pressures arising from the evolving interest rate envi ronment. Consequently, the Net Interest Margin improved to 4.40 percent from 4.26 percent in 2025.

HNB also recorded strong growth in its non-interest income streams, with net fee and commission income increasing by 30 percent year-on-year. The growth was driven by increased digital banking activity, higher card-related transactions and strong contributions from transaction banking and leasing businesses.

The combined growth in net interest and non-interest income resulted in Total Operating Income increasing by 27 percent year-on-year to 76.7 billion rupees. While operating expenses increased moderately, primarily due to higher foreign-currency-denominated technology and payment-processing costs, disciplined expense management enabled the Bank to improve its annualized cost-to-income ratio to 34.48 percent from 38.56 percent in 2025.

Read more: https://businesstoday.lk/hnb-reports-strong-first-half-growth-with-a-224-billion-rupee-increase-in-advances/

Sampath Bank records robust half-year results with Profit After Tax of 16.6 billion rupees Sampath Bank delivered a stro...
02/09/2026

Sampath Bank records robust half-year results with Profit After Tax of 16.6 billion rupees

Sampath Bank delivered a strong financial performance for the six months ended June 30, 2026, reporting Total Operating Income of 63.3 billion rupees, an increase of 17 percent compared to the corresponding period last year. The Bank’s performance was driven by sustained growth across its core revenue streams, with Net Interest Income increasing by 11 percent and Net Fee and Commission Income rising by 26 percent.

The Bank’s earnings performance was moderated by a higher impairment charge of five billion rupees, representing a year-on-year increase of 324 percent. This was primarily attributable to collective impairment arising from the continued expansion of the loan portfolio and the Bank’s prudent provisioning strategy in response to ongoing geopolitical uncertainties and the evolving macroeconomic environment. Consequently, Net Operating Income recorded a more moderate growth of 10 percent over the corresponding period of the previous year. Despite higher operating expenses associated with business expansion and continued strategic investments in technology, distribution and human capital, the Bank reported a Profit After Tax of 16.6 billion rupees, reflecting a robust year-on-year increase of 13 percent. The Sampath Group reported a Profit Before Tax of 26.6 billion rupees and a Profit After Tax of 17.9 billion rupees for the six months ended June 30, 2026.

Read more: https://businesstoday.lk/sampath-bank-records-robust-half-year-results-with-profit-after-tax-of-16-6-billion-rupees/

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