Cyprus celebrates its independence day with a military parade in Nicosia

Cyprus celebrates on Thursday October 1st its 66th independence anniversary with a military parade to take place at 11 a.m local time in capital Nicosia, in the presence of dignitaries from Greece, the United Kingdom, Egypt, France and the United States, as well as foreign Ambassadors.

President of the Republic, Nikos Christodoulides, will take the salute at the military parade, flanked by Defence Minister, Vasilis Palmas, Greek Defence Minister, Nikos Dendias and Chiefs of the National Guard of Cyprus and Greece.

The parade will also be attended by the Chief of the Armed Forces of the United Kingdom, Air Chief Marshal Sir Richard Knighton and representatives of the armed forces from Egypt, France and the United States, as well as Prime Ministers and Defense Ministers of foreign countries and other officials.

Earlier President Nikos Christodoulides and House President, Annita Demetriou, will visit the ”?mprisoned Graves” in Nicosia, where EOKA fighters during the anti-colonial war are buried and lay wreaths.

Moreover, the President of the Republic, House President and Greek Defence Minister will lay wreaths at the statue of Archibishop Makarios, the first President of the Republic of Cyprus, at the Presidential Palace courtyard.

Greek Defence Minister will allso be received by the President. Moreover, Christodoulides and Demetriou will attend a ?risagion Service and lay wreaths at the Republic and Resistance Memorial in the park by the Presidential Palace.

President Christodoulides and his spouse will host a reception for Cyprus Independence Day at 1300 local time at the Presidential Palace.

The public today can visit military ships and frigates of the Cyprus and Hellenic army docked at Larnaka Port.

Cyprus Department of Meteorology – Forecast for the Sea Area of Cyprus (A)

CYPRUS DEPARTMENT OF METEOROLOGY

FORECAST FOR THE SEA AREA OF CYPRUS (A)

FOR THE PERIOD FROM 0600 01/10/2026 UNTIL 0600 02/10/2026

Area covered is 8 kilometers seawards.

Winds are in BEAUFORT scale. Times are local times.

Atmospheric pressure at the time of issue: 1012hPa (hectopascal)

Low pressure and an unstable airmass are affecting the area. Isolated showers or thunderstorms are expected at times. IN STORMS WIND MAY BE VARIABLE STRENGTHENING to 5-6 BEAUFORT WITH STRONGER GUSTS.

Visibility: Good, but moderate to poor in showers

Sea surface temperature: 27°C

Warnings: NIL

AREA PERIOD WIND STATE OF SEA

West Coast

Morning Southwest to West 3 to 4 Slight

Afternoon Southwest to West 4, at times locally 4 to 5 Slight

Night Southwest to West 3 to 4, at times locally 4 Slight

South Coast

Morning Southwest to West 3 to 4, gradually 4 Smooth to Slight, gradually Slight

Afternoon Southwest to West 4 to 5, locally 5 Slight

Night Southwest to West 3 to 4, at times locally 4 Slight

East Coast

Morning Southwest to Northwest 3, gradually Southwest 3 to 4 Smooth to Slight

Afternoon Southwest 4, later offshore Southwest to West 4 to 5 Slight

Night Southwest to West 3 to 4, at times locally 4 Slight

North Coast

Morning Southeast to Southwest 3, soon Southwest to West 3 to 4 Slight

Afternoon Southwest to West 4, at times locally 4 to 5 Slight

Night Southwest 3 to 4, at times locally 4 Slight

Beyond numbers: The case for quality real estate investment

Tanzania’s real estate market is changing quickly. Across Dar es Salaam and other growing urban centres, new residential and commercial developments are reshaping our skylines and giving buyers and investors more choice than ever before.

But as the market grows, I believe our real estate conversation also needs to mature.

The question should no longer simply be: How much are we building? We should also be asking: What are we building, who are we building it for, and will it still represent good value ten or twenty years from now?

From quantity to quality

For many years, development activity itself has been seen as a sign of progress. More apartments, more towers and more projects coming onto the market naturally signal investment and confidence in the sector.

But more supply on its own does not necessarily create a strong property market. Quality matters just as much.

A good development begins long before construction starts. Location, architecture, unit sizes, practical layouts, natural light and ventilation, the quality of materials, parking, security, amenities and how the property will eventually be managed all have an impact on its long-term value.

And these details matter more today because buyers are becoming better informed and more selective.

A development can look impressive when it is launched. The real test comes later. Does it work well for the people living there? Is it being properly maintained? And will people still want to live there ten or twenty years from now?

Buyers are changing

Today’s buyer is not simply purchasing square metres. Whether someone is buying a home or an investment property, they increasingly want to understand what sits behind the asking price. They are looking at lifestyle, running costs, rental potential, resale prospects, management standards and the overall quality of the development.

For an investor, the lowest price per square metre is not always the best deal. A well-designed and well-managed property in the right location may cost more initially, but it can also be easier to rent, attract better long-term demand and hold its position in the resale market.

That distinction is important. Price and value are not the same thing.

Developers must understand the end user

One of the biggest opportunities I see in Tanzania is for developers to become more closely connected to the people who will eventually live in, rent or buy their properties.

You cannot develop successful real estate from drawings and financial models alone. You also need to understand the market.

What unit sizes are people actually looking for? What layouts work for today’s households? Which amenities do residents really use? What are corporate tenants asking for? And what makes a buyer walk away from an otherwise attractive property?

These are questions that should be asked before a project reaches the market, not afterwards. This is also where experienced real estate professionals can play a much bigger role.

Our job should not begin when construction is underway and a developer needs someone to sell the units. Because we deal directly with buyers, tenants and investors, we see what people are asking for, what they are willing to pay for and, just as importantly, what they reject.

That market knowledge can help developers make better decisions about the product itself, as well as pricing, positioning and sales strategy.

The next phase of Tanzania’s real estate market

Tanzania has an important opportunity ahead. Dar es Salaam is seeing increasingly sophisticated residential developments. At the same time, infrastructure investment, tourism, business activity and continued urbanisation are creating opportunities across different parts of the property market.

But as more projects enter the market, adding more units will not be enough. The developments that stand out over the long term will be those that understand who they are building for and deliver well – from the initial concept and construction quality through to handover, maintenance and management.

For developers, that means building with the end user in mind. For buyers, it means looking beyond the brochure, the renders and the launch price, and asking the right questions.

And for investors, it means recognising that a good property investment is not simply about buying at the lowest possible price. It is about buying something that people will continue to want to live in, rent or buy in the years ahead.

Towards a more mature property market

As Tanzania’s real estate sector grows, our standards should grow with it.

We need developments that add something to their neighbourhoods rather than simply occupy them. We need homes that actually work for the people who live in them. And we need investments that can retain their appeal and value over time.

That requires developers, investors, real estate professionals and buyers to think beyond the immediate transaction and consider what happens to a property after the excitement of the launch and the sale is over.

The future of Tanzania’s property market should not be measured only by how much we build. It should also be measured by how well we build, how intelligently we invest and, ultimately, how much lasting value we create.

Hellen Kiwia is CEO, Zara Real Estate Limited.

Zanzibar warns land brokers over sale of government plots

The Zanzibar Land Commission has warned land brokers and members of the public against selling or buying Government-reserved land set aside for development and agricultural projects.

The warning was issued on Wednesday, September 30, 2026, by the commission’s Executive Secretary, Mussa Kombo Bakari, during a press briefing at the commission’s offices in Mwanakwerekwe, Unguja.

Mr Bakari said some brokers had recently been advertising reserved land on social media without verifying its ownership or permitted use.

He identified Paje, Jambiani, Fumba, Bwejuu, Michamvi, Makunduchi and Kendwa among areas where such cases had been reported.

‘The commission recognises that some of these areas do not belong to the people using brokers to advertise them for sale. Some are Government agricultural and forest reserves,’ he said.

Mr Bakari said transferring such land was prohibited and could constitute a criminal offence.

He cited the Land Commission Act No. 6 of 2015 and the Land Tenure Act No. 12 of 1992, which give the commission authority to designate land for specific uses. He said those who violate the laws could face fines and imprisonment.

He also warned brokerage companies to verify the legality of land before accepting assignments to advertise it.

‘We will start arresting those who advertise such land, and they will be required to identify the people who hired them,’ Mr Bakari said.

He said the Government had reserved land for major development projects, making it important to protect the areas from illegal transactions.

The commission also advised prospective buyers to verify land ownership and status with the commission before making payments.

Mr Bakari said people allocated land for specific purposes must obtain approval from the Minister for Lands and Housing before changing its use.

He said the public warning was intended to prevent disputes and financial losses arising from illegal land transactions.

The commission’s Public Relations Officer, Raya Akida Haji, also urged buyers to verify the status of plots before purchasing them.

She said changing the approved use of land without following the required procedures was an offence and advised the public to comply with the relevant regulations.

Daily Monitor 01 Oct 2026

Fossil turns the spotlight on South Korean singer, actor, and host Choi Bo-Min, bringing his refined, minimalist sensibility to a selection of Fossil pieces that reflect his distinct approach to personal style.

Known for his refined approach to dressing, Bo-Min lends his own perspective to the season through three distinct style stories, moving from rugged leather and sleek metallics to a more unexpected mix of contemporary and vintage-inspired pieces.

Rugged and refined

Bo-Min starts by pairing the Machine Watch with the Buckner Backpack for a balance of character and clean design. Inspired by classic American machinery, the Machine Watch features a textured black dial, amber-tinted crystal and rich brown leather strap.

Its industrial character is balanced by the clean silhouette of the Buckner Backpack, crafted from full-grain leather with a padded tech compartment, multiple zip pockets, and comfortable carrying options for commuting, travel, and daily use.

Playing it cool

Bo-Min switches to a cooler palette, letting metallic accents and monochromatic dressing take the lead. The Everett Chronograph pairs its stainless-steel case and bracelet with an olive green sunray dial, balancing sporty character with a more elevated finish.

Alongside it, the miniature Raquel Watch Ring adds an unexpected jewelry-like detail, reworking the traditional timepiece into something more playful.

The black Maysen Crossbody completes the ensemble with full-grain leather, cargo-inspired pockets, an organized interior, and an adjustable strap. Its functional details keep the overall styling relaxed and easy to wear.

A modern mix

For his final pairing, Bo-Min leans into contrast. At the center is the Big Tic Tourbillon, inspired by an original Big Tic watch discovered in Fossil’s archives. The new interpretation draws from mechanical watchmaking through animated Tourbillon-style gears, set against a brushed gunmetal stainless-steel case and leather strap.

He pairs it with the Jolie Cargo Bag in Antiqued Spiced Chai. Made from full-grain leather with an aged finish, utility pockets, and heritage-inspired hardware, the bag adds warmth and texture against the unconventional timepiece.

Completing the combination is Fossil’s miniature Watch Ring, moving timekeeping from the wrist to the finger for another playful detail.

Across the three pairings, Bo-Min shows the versatility of Fossil’s Fall 2026 lineup, moving between rugged leather, sleek metallics, and more expressive combinations while staying true to his understated aesthetic.

The collection also reflects Fossil’s evolution from its watchmaking roots into a multi-category lifestyle brand spanning leather goods and jewelry, bringing together vintage inspiration and modern design.

Eala among ‘world’s most influential rising stars’ — TIME

She got next.

Alex Eala has been named one of Time Magazine’s TIME100 Next, which is a list of ‘the world’s most influential rising stars’.

The Filipina tennister joins the list, which includes basketball players Olivia Miles and Tyrese Maxey, American comedians Ashley Padilla and Druski, and advocates Shabana Basij-Rasikh and Wawira Njiru, among others.

Tennis legend Rafa Nadal wrote the entry on Eala, sharing that the Filipina tennister was the first player he shared a tennis court with after his retirement.

‘One day, she asked whether I felt like hitting with her for a while. For the first time in many months, I picked up a racket and played again,’ he said.

Nadal, who owns the Rafa Nadal Academy where Eala graduated from after being a full scholar for five years, looked back with fondness on the Filipina sensation’s beginnings, as well as her meteoric rise in tennis.

‘I’ve been lucky enough to know Alex since she began her journey at Rafa Nadal Academy, and have closely followed her tremendous career. At just 19, Alex beat three Grand Slam champion players at the 2025 Miami Open. This year, she won the WTA 500 tournament, becoming the first player from the Philippines to break into the world’s top 20,’ the article read.

‘And she still has plenty of room to grow. One of her greatest strengths is precisely her ability to listen, learn, and keep improving.’

Still, Eala ‘remains a wonderful person-warm, approachable, and humble.’

‘It isn’t easy to handle becoming a true phenomenon at such a young age, and she deserves a lot of credit for keeping her feet on the ground. Now, all that remains is to keep enjoying watching her progress.’

Eala, now ranked 18th in the world, has been one of the fastest rising stars in the sport.

Now, she is in the midst of an Asian Games run in Japan, where she is set to compete in the semifinal round Thursday afternoon.

DBM-Ombudsman pact can hasten graft probes

Investigators from the Office of the Ombudsman may no longer face unnecessary delays when they need to examine data on the Philippine Government Electronic Procurement System (PhilGEPS) and check government contracts in real time for possible irregularities.

An agreement with the Procurement Service-Department of Budget and Management (PS-DBM) grants the Ombudsman ‘faster access’ to procurement records on PhilGEPS, eliminating delays caused by manual document requests.

A data sharing agreement (DSA) signed on Tuesday at the DBM office in Malacañang allows for ‘interoperability’ of database systems between the DBM and antigraft body without violating data privacy laws, officials said.

‘The whole point of this agreement is to make the world smaller for those who abuse the system,’ Ombudsman Jesus Crispin Remulla said.

PhilGEPS is the centralized electronic portal that serves as a source of information on government procurement. Since the official launch in 2006, the general public may view information on PhilGEPS by creating an account, but limited to such details such as the owners of companies, the bids made and the contracts’ worth, among others.

he Ombudsman-DBM agreement, however, allows investigators to go further and follow procurement trails, connect related information, identify suspicious patterns, and verify evidence that can be used in prosecutions.

Prior to the agreement, an Ombudsman investigator seeking procurement records-such as bid notices, notices of award, contracts or supplier registration documents-still needed to file a formal request and wait for its transmittal.

‘Read-only’ access

This could delay the investigation and potentially compromise the overall effort to prosecute those behind anomalous contracts, Remulla said.

The DSA grants authorized investigators ‘secure, role-based and read-only’ access to a comprehensive set of procurement data on the portal. These include datasets on supplier and merchant registration, uploaded general information sheets, beneficial ownership information, buyer profiles, participation history and life cycle documents such as bids, awards, and contracts.

But officials stressed that access to the data will still be subject to privacy, security, logging and monitoring controls under the Data Privacy Act and related laws.

In effect, the agreement shortened that ‘gap’ on access by allowing investigators to see procurement records together, which is crucial in any inquiry, Remulla said.

‘When the Ombudsman sees the whole procurement record, relationships emerge. The same names, the same addresses, the same patterns,’ he said, seeing the DSA as a deterrent in itself. ‘It makes it more difficult for contractors and their conspirators in the government to hide their illegal activities.’

‘To anyone who still thinks our procurement system can be gamed: understand that the Ombudsman is now looking at the same data you are submitting,’ he said. ‘Every document you upload to PhilGEPS is a document we can read. Act accordingly.’

Budget Secretary Kim Robert de Leon said faster access would help investigators obtain evidence while maintaining safeguards over government data.

‘Right information, to the right institution, at the right time,’ De Leon said. ‘When it comes to accountability, speed matters-but evidence matters even more. There must be proof. There must be a basis.’

The agreement comes amid ongoing graft investigations or filed court cases involving multibillion-peso flood control projects.

‘The agreement means that when investigators need relevant procurement records for authorized official purposes, they will no longer have to depend solely on the traditional process of separately requesting documents and waiting for records to be transmitted,’ the DBM said in a statement.

SC junks 3 petitions vs impeach court ‘2/3’ ruling

The Supreme Court on Wednesday dismissed three petitions seeking to invalidate the Senate impeachment court’s Sept. 23 decision to lower the number of votes needed to convict Vice President Sara Duterte, clearing the way for the trial to proceed under the revised voting rule.

The high court, sitting en banc, junked the petitions separately filed by former Executive Secretary Victor Rodriguez, constitutional lawyer Ernesto Francisco Jr. and disbarred lawyer Berteni Causing on procedural grounds, including lack of standing and being premature.

The ruling was unanimous, with acting Chief Justice Marvic Leonen presiding, Supreme Court spokesperson Camille Ting told reporters.

The petitions challenged the Sept. 23 ruling which interpreted the constitutional requirement of a two-thirds vote of ‘all the members of the Senate’ to mean senators legally and factually capable of participating in the proceedings when the judgment is made.

The impeachment court’s 13-1 vote effectively changed the denominator for determining the two-thirds threshold. If only 20 senator-judges are eligible to participate when judgment is rendered, 14 votes would be needed for conviction instead of 16.

Three senators have been unable to participate in the trial since it began on July 6: Ronald ‘Bato’ dela Rosa, who is in hiding while facing an International Criminal Court arrest warrant, and Rodante Marcoleta and Jinggoy Estrada, who are detained over separate nonbailable plunder charges. Loren Legarda, who is currently on extended medical leave, attended a few sessions before leaving the country on Aug. 2.

Six other senator-judges, all members of the minority, did not participate in the Sept. 23 vote.

The Sept. 23 ruling came after the impeachment court on Sept. 16 heard the views of four retired Supreme Court justices invited as amici curiae, or friends of the court, to guide the senator-judges on the matter.

Three of the four-retired Chief Justices Hilario Davide Jr., Artemio Panganiban and Reynato Puno-said the two-thirds requirement should not necessarily be fixed at 16 votes. Retired Associate Justice Adolfo Azcuna maintained that the Constitution requires the full membership of the Senate to be used in computing the threshold.

Article XI, Section 3(6) of the Constitution provides that no person may be convicted in an impeachment case ‘without the concurrence of two-thirds of all the members of the Senate.’

SC leaves ruling intact

Rodriguez argued that the Senate court had effectively rewritten the Constitution, while Causing said senators should still be counted even if they are detained, in hiding or medically unable to attend. For Francisco, the Constitution provides for a 24-member Senate, hence conviction requires at least 16 senator-judges.

The Supreme Court did not rule on the substance of those arguments but dismissed the petitions because the petitioners lacked legal standing and the issue raised was premature.

Legal experts earlier questioned whether the petitions were ripe for judicial review since no judgment had yet been rendered by the impeachment court.

‘Let trial proceed’

Senate President Sherwin Gatchalian said the Supreme Court ruling meant that Duterte’s trial could proceed as scheduled.

He said the decision showed that the impeachment court acted ‘within its bounds and its constitutional allowance.’

‘It also goes to show that the Supreme Court respects the decision of the impeachment court,’ Gatchalian added.

Senator-judge JV Ejercito shared Gatchalian’s view, saying he believed the ruling showed that the high court was giving importance to the impeachment court.

Senator-judge Joel Villanueva said he saw no remaining stumbling block to the proceedings.

The ruling was also welcomed by Reginald Tongol, spokesperson for the impeachment court, saying the ‘prompt dismissal of the [petitions] on procedural grounds-specifically lack of standing and prematurity-effectively confirms that the interpretations and proceedings of the Senate impeachment court are constitutionally bulletproof.’

‘By junking these challenges, the highest court has drawn a definitive firewall around the independence of the Senate as an impeachment court, confirming that its proceedings cannot be held hostage by premature judicial meddling or collateral litigation,’ he added.

Bicol Saro Rep. Terry Ridon, a member of the House prosecution panel, said: ‘We believe that the Senate impeachment court itself should be the one to decide this.’

Lanao del Sur Rep. Zia Alonto Adiong, prosecution spokesperson, said the ruling allowed the trial to remain focused on the evidence.

‘The duty of the prosecution in an impeachment trial is clear: to present evidence, examine witnesses, and prove the allegations in the articles of impeachment so the impeachment court may determine whether the respondent remains fit to hold public office,’ Adiong said.

Defense keeps options open

The defense had placed on record Duterte’s reservations over the Sept. 23 ruling and said she would continue participating in the proceedings ad cautelam, while reserving all legal remedies available under the Constitution and law.

Defense counsel Michael Poa has maintained that any disagreement with the impeachment court should be raised through the proper legal process.

‘I’ve always maintained… respect with the court. If we have a disagreement with the decision of the court, I think the best way to do it is not through the media, not through gossip but through our petition if we have a petition,’ Poa said.

Poa also distanced himself from Vice President Duterte’s spokesperson Paolo Panelo’s characterization of the proceedings as ‘lokohan,’ saying he had not agreed with that description.

The defense had not indicated whether it would pursue another Supreme Court challenge after Wednesday’s dismissal. Rodriguez had also not responded to an Inquirer inquiry on whether he would seek reconsideration of the ruling.

The impeachment trial resumes on Thursday, Oct. 1, after the Senate court canceled Wednesday’s hearing for what it called a ‘strategic procedural pause.’

Gatchalian said both the prosecution and defense panels had requested the one-day break to prepare for 11 straight trial days from Oct. 1 to 15, except on weekends.

The marathon schedule gives the panels little time to prepare between hearings and could result in the court running out of witnesses before the end of a trial day, he said.

Tongol said the trial was ‘aggressively ahead of schedule’ and described Wednesday’s cancellation as a pause to clear the way for whole-day hearings.

Next prosecution witnesses

Ridon said the prosecution had witnesses lined up for Thursday and Friday, including Land Registration Authority officials, Anti-Money Laundering Council (AMLC) Executive Director Ronel Buenaventura and former Sen. Antonio Trillanes IV.

‘I think we will not be under delay, like what the Senate impeachment court spokesperson mentioned, in fact we are on a fast pace in terms of our witness presentation,’ he said.

The prosecution is still finalizing the sequence of witnesses, particularly whether Trillanes or Buenaventura should testify first.

Ridon said the panel was taking ‘under strict advisement’ the impeachment court’s suggestion that Buenaventura testify first to provide a baseline for Trillanes’ testimony on bank accounts.

The prosecution had initially planned to call Trillanes first because he would also discuss matters not taken up during the House justice committee hearings.

The testimonies of Trillanes and Buenaventura are expected to form a key part of the prosecution’s Article 2 case involving Duterte’s alleged unexplained wealth and failure to declare assets in her statements of assets, liabilities and net worth.

The AMLC chief testified before the House justice committee that covered and suspicious transactions involving Duterte and her relatives totaled P6.7 billion, including P4.4 billion in inflows and P1.5 billion in outflows. He also confirmed that 18 transactions randomly selected from Trillanes’ annexes matched AMLC records.

The Senate impeachment court is scheduled to hold whole-day proceedings on Oct. 1 and 2, Oct. 5 to 9, and Oct. 12 to 15 before taking a break to accommodate deliberations on the proposed 2027 national budget.

Oyo Nursing College provost warns students: shun vices, uphold ethics

The Provost of the Oyo State College of Nursing Sciences, Dr Gbonjubola Owolabi, has charged students of the institution to uphold the ethics and values of the nursing profession, just as she admonished them to shun all forms of misconduct capable of undermining their academic pursuits and professional development.

Dr Owolabi gave the charge on Monday, during a congress with students, held within the college premises in Eleyele, Ibadan.

She stressed that nursing is a profession that requires discipline, integrity, dedication, compassion and a strong sense of responsibility, urging students to begin to demonstrate these qualities during their training.

The provost particularly admonished the students to desist from behaviours such as laziness, improper dressing, indiscipline and negative attitudes towards their academic pursuits.

She explained that the college would not tolerate acts capable of tarnishing the image of the institution or compromising the standards of the nursing profession.

Dr Owolabi warned that any student found engaging in such vices would face the appropriate disciplinary procedures of the college.

According to her, disciplinary measures could include suspension, expulsion or other sanctions, depending on the nature and severity of the offence.

She advised the students to be good ambassadors of their families and the college at large, as well as to conduct themselves responsibly and uphold the good image of the institution wherever they find themselves.

She, therefore, urged the students to take their studies seriously, attend lectures regularly, maintain proper dressing and conduct themselves in a manner befitting students of a professional institution.

Other lecturers who spoke during the congress also warned the students to shun laziness and develop positive attitudes towards their academic work.

They encouraged them to be disciplined, punctual and committed to their studies, stressing that academic success requires dedication, consistency and personal responsibility.

The lecturers further advised the students to respect the rules and regulations of the college and maintain good relationships with their colleagues and members of staff.

The provost reiterated the commitment of the college management to providing an enabling environment for teaching, learning and professional development, while calling on the students to reciprocate the efforts by conducting themselves responsibly.

She urged them to see their period of training as an opportunity to build not only their academic knowledge but also the character and professional values required of competent nurses.

Speaking on behalf of the students, the Students’ Union President, Mr Iyiola Olamilekan, appreciated the provost and other members of the college management for their guidance, support and commitment to the welfare and development of the students.

He assured the management that the students had taken the admonitions in good faith and would work towards complying with the rules and regulations of the college.

He also pledged the cooperation of the students with the management, noting that they would continue to uphold the dignity and reputation of the institution while pursuing their academic and professional goals.

The congress was attended by the Deputy Provost, Mrs Iyabo Adeleke; the Registrar, Mr Raji Tirimisiyu; the Bursar and Librarian, Mr Iseoluwa Adedokun and Mrs Grace Adewusi; the Director of Works, Mr Adebowale Olawoyin; faculty members, lecturers and non-academic staff.

Saving a Tomorrow – beyond saving money: Building a culture of responsibility for generations to come

There are certain words that appear deceptively simple yet carry meanings that extend far beyond their ordinary daily use. ‘Saving’ is one such word. For generations, financial systems and societies have framed saving primarily by setting aside a portion of daily earnings to meet a future need, fulfill an ambition, or cushion against an unforeseen emergency. It remains one of the foundational principles of personal financial discipline and economic stability.

Yet, as the global and national landscape undergoes rapid environmental, economic, and social transformation, a broader question emerges: What exactly are we saving, and whom are we saving it for? ‘We do not inherit the Earth from our ancestors; we borrow it from our children.’ – Antoine de Saint-Exupéry

At National Savings Bank (NSB), October provides an annual opportunity to re-examine this fundamental question. We observe October as Thrift Month, culminating in World Thrift Day on 31st October. The month is uniquely meaningful because it weaves together a series of international observances deeply aligned with the purpose of a national institution like NSB:

1 October: Children’s Day and International Day of Older Persons

5 October: World Teachers’ Day

9 October: World Post Day

31 October: World Thrift Day

While these occasions may appear to belong to distinct spheres of society, beneath them lies a common thread: people, knowledge, systemic connection, responsibility, and the future. This is why, for Thrift Month 2026, NSB has chosen the theme, ‘Saving a Tomorrow.’ It intentionally expands beyond conventional financial definitions, inviting us to view tomorrow not as something that simply arrives, but as a condition actively shaped by the choices, we make today.

Expanding the paradigm: Financial capital vs. natural capital

Every generation inherits both man-made and ecological systems from the generation before it. We inherit financial reserves, physical infrastructure, institutional frameworks, scientific knowledge, and cultural values. But we also inherit finite biophysical capital: river basins, forest canopies, arable soil layers, clean air, and biological diversity. The fundamental metric of intergenerational equity is whether a generation accumulates private wealth at the expense of depleting natural capital, or whether it manages resources to ensure total systemic capital increases. Total national wealth is not merely a reflection of monetary assets and built infrastructure; it depends equally on human capital and the health of our natural capital.

Pioneering ecological economist Herman Daly highlighted this reality by reminding us that macroeconomies function as open subsystems within a closed, finite biosphere. To pursue unchecked economic growth without safeguarding the underlying ecological buffer is to incur systemic bankruptcy. The concept of thrift has always contained this element of foresight. A person who saves today accepts that tomorrow matters; a nation that protects its natural resources recognises that long-term prosperity cannot be decoupled from ecological health.

The science of resource efficiency and demand-side action

Science increasingly validates this integrated understanding of thrift. The United Nations Environment Program (UNEP) defines sustainable consumption and production through the lens of resource decoupling: increasing economic productivity while systematically reducing raw material throughput, energy intensity, and environmental degradation.

Data from UNEP’s Global Resources Outlook 2024 indicates that global material extraction has tripled over the past five decades, rising from roughly 30 billion tons in 1970 to approximately 100 billion tons in 2020. Without urgent changes, global resource extraction is projected to surge by another 60 per cent to nearly 160 billion tons annually by 2060. However, strategic changes in production, consumption, and circular resource management can alter this trajectory.

In this scientific framework, environmental conservation is mathematically and functionally identical to thrift-where every unit of resource saved translates directly into avoided emissions and preserved natural capital. When we conserve electricity, avoid wasting food, or reuse products, we directly reduce upstream resource demands and curb raw material extraction.

Furthermore, the Intergovernmental Panel on Climate Change (IPCC) Sixth Assessment Report establishes with high confidence that demand-side measures across energy, transport, buildings, and food systems could reduce emissions by 40 to 70 per cent globally by 2050 compared with baseline scenarios. Climate action is driven significantly by the micro-decisions made by millions of individuals every day.

Financial resilience as household capital

While natural capital preservation provides the macro-foundation for national sustainability, personal financial resilience remains the primary defensive wall against household vulnerability.

The habit of saving provides individuals and families with a self-insurance mechanism against economic volatility. Unexpected expenses, changes in income, health-related emergencies, and inflationary pressures can place enormous strain on household finances. In financial terms, a household’s structural resilience is evaluated by balancing its liquid savings buffers against its essential monthly commitments.

Behavioral economics demonstrates that saving is fundamentally an exercise in intertemporal choice-the conscious capacity to weigh immediate consumer gratification against future security. In an economic environment heavily optimised to trigger impulse spending through real-time credit and digital channels, developing a savings habit strengthens self-regulation and long-term planning capability. ‘Do not save what is left after spending, but spend what is left after saving.’ – Warren Buffett

Financial resilience is less about accumulating excess wealth for status and more about generating strategic optionality-creating the capacity to navigate uncertainty and life transitions with dignity, without resorting to high-cost debt or distress borrowing.

The intergenerational bridge: Children, older persons, and teachers

The convergence of international observances in October highlights the structural links that bind different segments of our society together. Accumulated capital, wisdom, and experience from senior generations flow through educators to enrich and build the emerging human capital of our youth.

Research in early childhood development shows that foundational financial behaviors are formed at a remarkably early age. A landmark study by the University of Cambridge demonstrated that core money habits, including delayed gratification, basic planning concepts, and financial reasoning, are largely established in children by age seven. When a child opens their first savings account, the initial deposit marks the beginning of a lifelong practice of patience, goal setting, and personal responsibility.

At the other end of the demographic spectrum, 1st October is also the International Day of Older Persons. The United Nations’ 2026 theme, ‘The Age of Longevity: Rethinking Systems for Longer Lives,’ calls attention to a world where the global population aged 60 and above is projected to rise from 1.2 billion to 2.1 billion by 2050, requiring multi-generational solidarity, pension safety, and retirement dignity.

This human capital pipeline is further reinforced by the World Teachers’ Day on 5th October. As UNESCO notes, 2026 marks the 60th anniversary of the 1966 ILO/UNESCO Recommendation concerning the Status of Teachers. Human capital theory confirms that investments in education yield high economic and social compound returns over decades.

Universal access and modernising thrift

World Post Day on 9th October provides another vital connection to NSB’s purpose. The extensive reach of Sri Lanka’s postal network helped bring financial services directly to rural communities across the island, establishing that saving should never be a privilege determined by geography. As banking transitions into digital formats, technology must broaden inclusion rather than creating new forms of exclusion. Today, thrift must evolve into a modern, three-pronged framework:

Financial Capital: Debt prudence, systematic savings, and distinguishing true needs from temporary wants.

Natural Capital: Energy and water efficiency, food waste minimisation, and ecosystem protection.

Digital Capital: Attention management, digital literacy, and mindful technology usage.

‘Economy is the method by which we prepare today the strength of tomorrow.’ Woodrow Wilson

Thrift is not deprivation; it is the intentional, intelligent allocation of finite resources to maximise long-term security and value.

A national imperative

The concept of ‘Saving a Tomorrow’ expands from an October campaign into a vital national conversation: What we choose not to waste today becomes part of someone else’s tomorrow.

For National Savings Bank, this philosophy defines our institutional core. Since our establishment, NSB has carried a national mandate to encourage thrift and mobilise savings. As Sri Lanka continues its journey towards economic resilience and sustainable development, we must encourage the saving of financial reserves, natural resources, knowledge, and opportunities alike.

The future will be secured through millions of conscious decisions made every day. Every rupee saved is an act of preparation. Every unit of energy conserved is an act of stewardship. Every tree protected is an investment in natural capital. Every child educated is an investment in human capital.

This October, let us not merely celebrate Thrift Month. Let us live its true meaning together.

Saving a Tomorrow.