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Lankan Professor co-edits Scopus Q1 International Finance Volume honouring legendary scholar

Sri Lanka has added another milestone to its global academic achievements with the publication of Review of Finance Literature – Volume 6, an internationally recognised scholarly volume published by Emerald Publishing.

The book is indexed in Scopus (Q1) and SCImago Journal Rank (Q1), with an impressive 2025 CiteScore of 8.4, reflecting its significant scholarly impact and international standing. The publication is believed to be the first-ever finance book edited by a Sri Lankan academic to be indexed in both Scopus (Q1) and the SCImago Journal Rank (Q1), achieving an outstanding 2025 CiteScore of 8.4.

The volume is co-edited by Professor Narayanage Jayantha Dewasiri of the Sabaragamuwa University of Sri Lanka, together with Professor H. Kent Baker (American University, USA), Professor Jitender Kumar (Deenbandhu Chhotu Ram University of Science and Technology, India), and Dr. Shubham Singhania (FORE School of Management, India).

As the sixth volume in Emerald Publishing’s prestigious Review of Management Literature series, the book brings together internationally recognised scholars to synthesise contemporary knowledge and identify future research directions in finance.

A tribute to Professor H. Kent Baker

The publication carries profound emotional significance, as it was completed during Professor H. Kent Baker’s passing, an internationally renowned finance scholar whose work transformed the fields of behavioural and corporate finance. Ranked among the world’s top 1% of finance scholars by the Journal of Finance, Professor Baker was celebrated not only for his exceptional research achievements but also for his generosity as a mentor to researchers worldwide.

The editors dedicated the volume to his memory through a special preface titled ‘In Memory of Professor H. Kent Baker.’ The tribute acknowledges Professor Baker’s extraordinary academic legacy, unwavering commitment to research excellence, and his remarkable mentorship that inspired generations of scholars across the globe.

Professor Dewasiri noted that Professor Baker was not only a distinguished co-editor but also an exceptional mentor whose guidance, generosity, and scholarly vision profoundly influenced the development of the Review of Finance Literature series.

A Comprehensive Review of Contemporary Finance

The volume comprises 11 comprehensive review chapters covering some of the most significant and emerging areas in global finance, including:

Asset-based mutual fund performance

Loan portfolio diversification in banking

Financial news and stock market volatility

Microfinance

Sustainability-oriented investor activism

Climate risk and financial stability

Women’s financial literacy

Forensic accounting

Corporate governance in family firms

Non-performing loans

Financial inclusion

Corporate Sustainability Reporting Directive (CSRD) and the European Union Green Taxonomy

Among these contributions is a chapter co-authored by Professor Dewasiri titled ‘Non-Performing Loans: An Integrative Review of Theoretical Foundations and Empirical Trends Through Bibliometric and Systematic Analysis,’ highlighting Sri Lanka’s growing contribution to international finance scholarship.

Global collaboration with lasting impact

The volume reflects a successful collaboration among researchers from leading universities across Asia and North America. Beyond synthesising existing knowledge, the publication identifies research gaps, proposes future research agendas, and serves as a valuable reference for academics, doctoral researchers, policymakers, and finance professionals worldwide.

According to Professor Dewasiri, the objective of the series is to consolidate fragmented knowledge, provide evidence-based insights into emerging areas of finance, and facilitate the development of impactful future research.

Strengthening Sri Lanka’s global research reputation

Professor Dewasiri’s role as co-editor of this internationally recognised publication further reinforces Sri Lanka’s growing presence within the global research community. His contribution demonstrates the increasing involvement of Sri Lankan academics in leading international publishing initiatives and high-impact scholarly collaborations.

Published by Emerald Publishing, Review of Finance Literature – Volume 6 represents an important addition to the finance literature and is expected to become an essential reference for researchers, postgraduate students, policymakers, and practitioners seeking a comprehensive understanding of contemporary developments in banking and finance. The publication further highlights Sri Lanka’s capacity to contribute meaningfully to global knowledge creation while showcasing the country’s academic excellence on the international stage. For more information about the publication, readers may visit the official Emerald Publishing page: https://www.emerald.com/books/edited-volume/21518/Review-of-Finance-Literature

Young Creatives Connect With Prof. Ladé Wosornu At Maiden SAMP Edition

The Schools Arts Mentorship Programme, SAMP Train, has been launched to bridge the gap between emerging talents and established creatives in Ghana’s arts ecosystem.

The maiden edition was held at Seeds After The Order of Christ Academy (SATOC), with students engaging legendary poet and author, Professor Ladé Wosornu.

Organised by Playhouse.kom in partnership with the Professor Ladé Wosornu Trust and SATOC Academy, the session connected a new generation of creatives with a writer whose works they have studied in class for years.

The programme, dubbed, ‘the SATOC Academy Art Mentorship Programme with Professor Ladé Wosornu’, featured an infographic presentation of selected poems by the professor, followed by reviews and live performances by the students.

Participants also had a one-on-one engagement with Prof. Wosornu on his writing journey, creative process, life experiences as both an astute surgeon and poet, and guidance on building a successful career as an author.

SAMP Train was designed to fill a critical gap in Ghana’s creative arts space by creating direct mentorship opportunities between budding artists and successful industry figures.

According to the organisers, subsequent editions will feature other established creatives across poetry, theatre, music and visual arts to inspire and guide students nationwide.

The maiden edition was described by teachers and students as ‘an inspiring and beautiful experience’ that brought classroom literature to life.

GUYANA-CRIME- Brazilian woman remanded for murder of gold miner husband

A Brazilian woman has been remanded into custody after being charged with the murder of her husband at a mining camp in Rock Creek Backdam along the Puruni River, to the south of here.

Doroteia Castilho Maia, 49, of Manaus, Brazil, and Rock Creek Backdam, appeared before Magistrate Teriq Mohamed in the Bartica Magistrate’s Court on Wednesday.

She is accused of murdering her husband, Antonio Pereira Figueredo, a 53-year-old Brazilian gold miner, during an altercation at the mining camp on Saturday.

Maia was not required to enter a plea to the indictable charge and was remanded to prison. The case was adjourned until August 31.

According to police, the couple became involved in an argument during which Figueredo sustained a fatal stab wound to the abdomen. Investigators recovered a kitchen knife believed to have been used in the incident.

Jaffna Kings pull off thrilling five-run win

The Colombo Kaps, having lost their captain Kusal Mendis, who has been ruled out of the remainder of the Lanka Premier League (LPL) 2026 with a hamstring injury, and with several of their players under the weather, lost a tight LPL contest to Jaffna Kings by a mere five runs in the first of two matches played at the Rangiri Dambulla Cricket Stadium yesterday.

Mendis sustained a right hamstring injury while attempting a run during the Colombo Kaps’ match against the Kandy Royals on 19 July at the SSC Ground, and will return to the National High Performance Centre to commence his rehabilitation program, stated a media release from Sri Lanka Cricket (SLC).

Jaffna Kings made a steady start, with the opening pair Avishka Fernando and Kamil Mishara putting on 65 off 53 balls before Wanuja Sahan finally broke the stand, removing Mishara for 39. Not long after, Milan Rathnayake cleaned up Fernando for 34 to leave the Kings needing to start afresh.

Chamindu Wickramasinghe, promoted to number three, lifted the scoring rate with a flurry of big hits and crisp boundaries. Just as Jaffna Kings looked set to accelerate, Mujeeb Ur Rahman struck twice in the 16th over to halt their progress and swing the momentum back in Colombo Kaps’ favour.

Colombo Kaps were not at their sharpest in the field, putting down three catches, missing a couple of run-out opportunities, and gifting away extra runs through sloppy misfields even though their bowlers kept a tight leash on the scoring and did not allow the middle order to settle. Wickramasinghe’s entertaining knock of 43 from 22 balls (4 fours, 2 sixes) ended when Shahnawaz Dahani bowled him attempting an audacious reverse ramp. Mujeeb and Dahani took the bowling honours with two wickets each.

The Colombo Kaps began disastrously losing their first two wickets for nine that saw them struggling for momentum at 37-3 after six overs. Kamindu Mendis, leading Colombo Kaps in the absence of his namesake Kusal Mendis, was the lone spark. He looked in total control as he rotated the strike and found the boundaries with ease to bring up his 50 off 34 balls. But Traveen Mathew, who made the initial breakthrough, returned to deliver another massive blow, getting Kamindu Mendis caught at deep cover for 58 (42 balls, 3 fours, 2 sixes). Sharujan Shanmuganathan looking to free his arms was caught out at deep square leg as the Colombo Kaps lost their way, tumbling to 114-7 in the 16th over. Jaffna Kings were exceptional in the field, taking every chance that came their way, and kept a tight leash on the run rate.

Having made five changes to their line-up, the Colombo Kaps looked sloppy; their batting unit failed to gel and their earlier lapses in the field ultimately came back to haunt them. Late fireworks from Rathnayake (15 off 8) and Sahan (35* off 15) only served to reduce the margin of defeat. It was a complete team performance in the field by the defending champions, who seem to have found their feet after losing their first match.

Lizaad Williams with three wickets led the bowling honours, with Mathews and Dilshan Madushanka chipping in with two apiece. Wickramasinghe was made Player of the Match. – [ST]

Scores:

Jaffna Kings 179-6 (20) (Avishka Fernando 34, Kamil Mishara 39, Chamindu Wickramasinghe 43, Mujeeb Ur Rahman 2/33, Shahnawaz Dahani 2/25)

Colombo Kaps 174-9 (20) (Kamindu Mendis 58, Sharujan Shanmuganathan 26, Wanuja Sahan 35*, Dilshan Madushanka 2/12, Traveen Mathew 2/21, Lizaad Williams 3/30)

Anutin vows to continue peace talks after bomb blast

A car bomb explosion in Narathiwat has prompted a security investigation, with Prime Minister Anutin Charnvirakul pledging continued peace talks and stronger measures to prevent further attacks.

The explosion occurred on Tuesday about 7.20pm outside the former Tanyong police station building in tambon Kaluwo Nuea of Muang district.

Unidentified individuals used a Toyota Soluna loaded with an improvised explosive device, pushing the vehicle towards the police station before it detonated.

The blast damaged nearby property and caused panic among local residents.

Firefighters quickly contained the blaze caused by the explosion, while police, soldiers, EOD officers and forensic experts secured the scene, collected evidence and began a hunt for those responsible.

In response, Mr Anutin on Wednesday said all agencies have been instructed to perform their duties to the fullest, with the highest priority being the protection of residents.

Regarding peace dialogue efforts, he said the efforts would continue under national intelligence chief Thanat Suwannanon, adding that discussions had also been held with Malaysian counterparts.

Mr Anutin said improving intelligence gathering and preventive measures are essential to counter those intent on carrying out such attacks.

According to media sources, deputy Narathiwat governor Wichan Chaisetsampan inspected checkpoints and security posts in the province’s economic safety zone on Monday night.

Meanwhile, the Internal Security Operations Command Region 4 Forward Command condemned the bombing, describing it as a brutal and immoral attack that endangered civilians and security personnel and sought to undermine peace in the area.

The agency said authorities would work together to identify and prosecute those responsible, while urging the public to report suspicious activity through the Isoc Region 4 Forward hotline 1341 or local security units.

BAT profit up 3pc, maintains dividend at Sh10 per share

BAT Kenya maintained an interim dividend of Sh10 per share as its net profit for the six months to June 2026 rose 3.1 percent to Sh3.08 billion on higher export and oral nicotine pouch sales.

The Nairobi Securities Exchange (NSE) listed company’s gross revenue grew by 2.6 percent in the period to Sh18.9 billion, while operating costs rose 6.8 percent to Sh8.02 billion.

Finance income rose to Sh136 million from Sh97 million in the first half of 2025, while income tax expense was slightly lower at Sh1.32 billion, from Sh1.34 billion previously. BAT also collected Sh6.69 billion in excise duty and VAT on behalf of the government, down from Sh6.76 billion a year earlier.

BAT said that sales in its domestic and export markets came under pressure from rising inflation, which cut disposable income, resulting in lower cigarette sales volumes. The company added that higher fuel prices associated with the ongoing conflict in the Middle East increased its logistical and input costs.

The company kept its interim dividend for the half-year period unchanged at Sh10 per share, or Sh1 billion in total. The dividend will be paid on September 25 to shareholders on the company’s books by close of business on August 28.

‘Net revenue increased by five percent to Sh12.3 billion, driven by recovery in export sales and modern oral nicotine pouch sales following the launch in June 2025. This increase offset the impact of lower sales volumes and consumer downtrading in the domestic market,’ said BAT Kenya in a statement.

‘Cost of operations increased by seven percent, mainly driven by higher input costs together with additional expenditure to comply with graphic health warning regulations and support the company’s multi-category product portfolio.’

BAT resumed sale of its oral nicotine pouches in June 2025, after securing the necessary sales licences for the products from the government.

It had introduced the pouches in 2019 -then branded Lyft- as it sought to diversify away from combustible cigarettes. It however stopped selling them a year later after the government said they ought to be regulated as a tobacco product.

In 2024, the company sold the pouch making machinery at its Nairobi factory after lying idle for five years due to the marketing ban, saying that it would rely on imports once it got the nod to bring the pouches back to the market.

The company has also highlighted the impact of an influx of illicit cigarettes in the domestic market.

Citing unnamed third party research, BAT said that illicit cigarettes accounted for 45 percent of the domestic market by the end of 2025, up from 37 percent in 2024, ultimately denying the government Sh12 billion in tax revenue annually.

BAT attributed the surge in illicit products to the lower purchasing power of its customers, which has been forcing them to turn to lower priced alternatives to its products. The company added that although efforts have been made by relevant government agencies to address the illicit trade, enhanced enforcement measures will be required to curb this growing menace.

Public warned vs QR Code scam

The public should take extra precaution when transacting online amid an emerging scam using fake quick-response codes, the police Anti-Cybercrime Group said yesterday.

ACG director Maj. Gen. Wilson Asueta urged the people to be wary of the quishing scam, wherein scammers use fake QR codes to obtain bank details and personal information of potential victims.

A video message from the ACG showed scammers first calling potential victims, telling them that they had been chosen as recipients of financial assistance.

The fraudsters then send a QR code for the victims to register. The victims subsequently notice that they have lost a huge amount of money from their e-wallet accounts.

Based on data from the ACG, there were 4,509 cybercrimes from Jan. 1 to June 30.

This is lower by 18.4 percent than the 5,526 cases during the same period in 2025.

CBSL holds policy rate at 8.75%

The Central Bank of Sri Lanka (CBSL) yesterday announced an unchanged stance on policy rates at 8.75% following the Monetary Board Review on Tuesday, citing evolving external shocks stemming from the renewed tensions in the Middle East.

The Board noted that the decision was based on an assessment of evolving domestic and global developments, particularly uncertainties linked to geopolitical tensions and their potential impact on inflation and external stability.

‘Renewed tensions in the Middle East have resulted in a surge in global commodity prices, particularly petroleum. These developments are likely to dampen global economic prospects with potential spillovers to the domestic economy through multiple channels,’ it said in its Monetary Policy statement.

It noted that the CBSL will continue to closely monitor domestic and global developments for emerging risks.

Noting that headline inflation accelerated to 6.8% year-on-year (YoY) in June 2026, mainly due to higher domestic energy and food prices, the CBSL said headline inflation is expected to remain above the target of 5% in the near term before gradually returning to the target level.

It also noted that core inflation is also expected to increase and remain around the headline inflation target.

‘In spite of the near-term uptick in actual inflation, inflation expectations remain well-anchored around the inflation target over the medium term,’ the statement added.

Although the acceleration of headline inflation is largely supply-driven, the CBSL said demand conditions in the economy have also strengthened.

‘The CBSL expects the monetary policy tightening carried out previously to transmit to the economy in the period ahead. It stands ready to take appropriate measures to ensure that inflation stabilises around the 5% target, while supporting the economy to reach its potential over the medium term,’ the statement said.

However, together with other policy measures taken by the Government and the CBSL, the monetary policy tightening in May 2026 and its gradual transmission to the real economy are expected to moderate credit growth and the buildup of demand pressures going forward.

It added that the pressure on the external sector caused by the Middle East conflict has eased somewhat, although the outlook remains uncertain due to renewed tensions.

‘Since April 2026, the external current account has recorded a deficit, mainly because higher fuel import costs widened the merchandise trade deficit and tourism earnings slowed down. Going forward, import demand, including demand for motor vehicles, is expected to reduce in response to recent policy measures,’ it noted.

Meanwhile, the statement said workers’ remittances have remained strong so far in 2026. Gross official reserves stood at $ 6.45 billion at the end of June 2026, amid foreign debt service payments. The Sri Lankan rupee has stabilised somewhat in recent weeks, reflecting the impact of policy measures that have been taken thus far.

Bulgarian Parliament approves deployment of US tanker aircraft at Bezmer Air Base

The Bulgarian parliament has approved the deployment of US military tanker aircraft at an airbase near the village of Bezmer in southeastern Bulgaria, AzerNEWS reports, citing the Bulgarian National Radio.

The resolution was adopted with the support of 135 lawmakers from the Progressive Bulgaria and Movement for Rights and Freedoms parties.

Thirteen lawmakers voted against the decision, while the opposition Union of Democratic Forces, Democratic Bulgaria and We Continue the Change did not participate in the vote.

Earlier, Bulgarian Prime Minister Rumen Radev said that the government had received a diplomatic note from the United States regarding permission to deploy tanker aircraft at the airbase near Bezmer. The government subsequently submitted the issue to parliament for consideration.

Under a 2006 US-Bulgaria defense agreement, the Bezmer facility, about 260 kilometers (160 miles) southeast of the capital, Sofia, is a joint-use facility.

CRICKET-U19-Barbados grabs lion share of Rising Stars individual awards

All-rounder Justin Parris grabbed two awards, while Gadson Bowens captured another, as two-time champions Barbados took home the majority of individual awards in the recently concluded CWI Rising Stars Under-19 Men’s 50-over Championship.

Parris, who scored a match-winning century and also grabbed five wickets in Barbados’ 116-run win over Jamaica in the final on Wednesday, was named the tournament’s Most Valuable Player (MVP).

He ended the campaign with 196 runs and claimed 17 wickets to also take home the award for the Most Wickets.

Bowens, who created history by scoring 209 in the second round – the highest individual score in the tournament’s history – walked away with the award for Most Runs, after finishing as the championship’s leading run scorer with 309 runs.

The remaining individual honours went to Earsinho Fontaine of the Windward Islands, who claimed the Most Catches award with six, while Trinidad and Tobago wicketkeeper Christiano Ramanan earned recognition as the tournament’s outstanding wicketkeeper after recording 11 dismissals.