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Wang Yi: PHL-China ties at crossroads; protests traded

CHINESE Foreign Minister Wang Yi and Philippine Foreign Secretary Ma. Theresa Lazaro exchanged protests over the July 20 maritime clash at Ayungin Shoal, underscoring the deepening strain in bilateral ties.

China’s Foreign Ministry spokesman Guo Jiakun said Wang lodged a ‘strong protest against the reckless act’ of Philippine Navy sailors, accusing them of ramming inflatable boats into a China Coast Guard (CCG) vessel. Beijing insisted the Philippine side provoked the incident-a claim the Armed Forces of the Philippines has denied.

The exchange took place during Wang and Lazaro’s bilateral meeting on the sidelines of the Asean-related ministerial meetings in Manila, their first Foreign Minister-level engagement in two years.

The DFA earlier said Lazaro protested the ‘violent’ incident that injured a Filipino soldier, while also raising Manila’s objections to the July 10 AI-generated China Daily video portraying Filipinos as ‘stupid monkeys’ and as lackeys of the US and Japan.

On Thursday, a third incident tested the Asian neighbors’ relations: The Philippine Coast Guard (PCG) reported being harassed by the CCG as it, along with the Bureau of Fisheries and Aquatic Resources (BFAR), conducted fuel subsidy missions for Filipino fishermen at Bajo de Masinloc (BdM). The CCG side used its water cannon and at one point, executed a dangerous maneuver, crossing approximately 500 meters ahead of the bow of BRP Datu Paiburong (MMOV-3018).

Relations at a crossroads

Amid this chain of incidents, Guo quoted Foreign Minister Wang as saying. ‘China-Philippines relations now stand at a crossroads, and it falls on the Philippines to make a right and rational choice about the way forward.’

Wang questioned the timing of the Ayungin clash, noting it occurred a day before his scheduled visit to Manila. He alleged that ‘some forces in the military and police’ deliberately create incidents to derail dialogue, acting on the ‘bidding of external forces’ rather than the well-being of Filipinos.

Wang warned that attempts to ‘provoke trouble with the help of external forces’ would only cause the Philippines to ‘reap what it sows.’

He urged Manila to stop provocative maritime actions, honor commitments made to China, and take steps to stabilize relations.

Teodoro: China has no right to enter

Department of National Defense (DND) Secretary Gilberto Teodoro Jr. on Thursday said Chinese maritime forces, especially its Coast Guard, have no right to enter Philippine territory in the West Philippine Sea (WPS) and interfere with Filipino troops there going about their lawful mandate.

He issued this comment after Chinese Ambassador to the Philippines Jing Quan, attempted to justify the actions of the CCG who clashed with Philippine Navy personnel manning the BRP Sierra Madre (LS-57) in Ayungin Shoal on July 20.

The Chinese envoy claimed that CCG personnel went to Ayungin Shoal after receiving reports that Filipino troops are engaging in construction activities aboard the Sierra Madre, which he said is in violation of a provisional agreement entered into by the two nations.

And while not confirming construction activities, Teodoro said, in a mix of Filipino and English, ‘They have no right to interfere, secondly, they have no right to be there.’

Asked if China’s actions are escalatory in nature in the WPS, Teodoro said, ‘it’s not an escalation. It is part of a design to control the Pacific Ocean.’

The DFA said both ministers nevertheless highlighted progress in negotiations on the Asean-China Code of Conduct and reaffirmed their willingness to conclude talks this year.

They also discussed broader cooperation in trade, investment, agriculture, tourism, connectivity, and people-to-people exchanges, in line with President Ferdinand R. Marcos Jr.’s directive to pursue dialogue and diplomacy while remaining assertive in protecting Philippine interests.

Asked if China’s actions are escalatory in nature in the WPS, Teodoro said, ‘it’s not an escalation. It is part of a design to control the Pacific Ocean.’

The DFA said both ministers nevertheless highlighted progress in negotiations on the Asean-China Code of Conduct and reaffirmed their willingness to conclude talks this year.

They also discussed broader cooperation in trade, investment, agriculture, tourism, connectivity, and people-to-people exchanges, in line with President Ferdinand R. Marcos Jr.’s directive to pursue dialogue and diplomacy while remaining assertive in protecting Philippine interests.

CSE breathes after CBSL keeps rates steady

The Colombo stock market ended a three-session losing streak to close yesterday in the green buoyed by the Central Bank of Sri Lanka’s monetary policy decision to hold rates steady.

The ASPI ended up 0.02% or 3.83 points at 21,149.56 but the S and P SL20 ended down 0.21% or 12.39 points at 5,932.62.

Turnover was over Rs. 3.5 billion on over 91.1 million shares traded. Foreign investors were net sellers on a net outflow of Rs. 241 million.

First Capital Research said investor sentiment remained positive following the Central Bank of Sri Lanka’s decision to maintain policy interest rates, supporting buying interest despite the mixed performance of the benchmark indices.

Both HNW and retail investor participation remained high during the session, contributing to overall market activity. The main positive contributors to the ASPI were SEYB, LION, PKME, CARG, and SEMB.X.

The real estate management and development sector led the daily turnover with a share of 65%, amid higher number of crossings seen in ONAL, followed by the banking, and diversified financials sectors collectively contributing 15%.

Man City’s Foden extends contract until 2030

Manchester City’s Phil Foden has signed a new contract that will keep him at the club?until 2030, the English Premier League club announced Wednesday.

The new deal reinforces City’s commitment to the academy graduate, who has made 411 appearances and scored 131 goals ?since breaking into the first team under Pep?Guardiola in 2017, winning six Premier League titles, ?the Champions League and three FA Cups.

‘It’s not ?lost on me that  I’ve been lucky enough to be part ?of a historic period with so many titles won, but we’re always looking to the future and trying to win more,’ Foden ?said in a statement.

‘I can only thank the ?club, staff, teammates and fans who continue to put their faith ?me and trust that I give everything I can for City and I hope I’ll be able to repay you for years to come.’

Foden registered 10 goals ?and seven ?assists in ?50 appearances for City across all competitions last season, but the 26-year-old was omitted ?from England’s World Cup squad by manager ?Thomas ?Tuchel after a dip in form in 2026, during which he failed to score and managed only three ?assists.

Manchester City ?will begin their Premier League ?campaign under new manager Enzo Maresca on August 23 against Bournemouth.

Kidnapping: Ondo community fears delay in prosecution of suspects

Residents of Ode-Irele community, headquarters of Irele Local Government Area of Ondo State, have expressed concern over the delay in the prosecution of suspects arrested in connection with the abduction of Mrs Morenike Falona, wife of businessman and community leader, Chief Babatunde Falona.

The residents also queried the continued silence of the Ondo State Police Command over the identities of the suspects, saying the development had heightened anxiety within the community.

The middle-aged woman was abducted on June 15, 2026, when armed men reportedly invaded her residence and whisked her away in the presence of her husband and other members of the family.

She regained her freedom three days later after a joint operation by security agencies, aided by members of the Ikale, Apoi and Arogbo-Ijaw communities, led to her rescue in a forest around Ijuosun.

Residents said they were later informed that four suspects linked to the incident had been arrested and transferred to the State Criminal Investigation Department, Akure, for interrogation.

However, they lamented that several weeks after the arrests, the suspects had neither been publicly identified nor arraigned before a court, raising fears that the matter might not be diligently pursued.

Speaking on behalf of the Falona family, a community leader and retired public servant, Sir Rufus Falona, appealed to the Commissioner of Police in Ondo State to expedite the investigation and ensure that those responsible were prosecuted in accordance with the law.

He said the continued silence surrounding the case had fuelled apprehension among residents, who were eager to see justice served.

Responding, the Ondo State Police Command dismissed suggestions that it was shielding the suspects, insisting that the investigation was still in progress.

The State Police Public Relations Officer (PPRO) ASP Jimoh Abayomi, said investigations into kidnapping cases and other organised crimes are intelligence-driven and require confidentiality to prevent compromising ongoing operations.

He explained that releasing the identities of suspects or other sensitive details prematurely could jeopardise efforts to arrest other members of the criminal network and affect successful prosecution.

According to him, following the rescue of the victim, the command commenced extensive investigations, leading to the arrest and interrogation of suspects connected with the case.

Abayomi maintained that the command had no intention of concealing the identities of criminal suspects or frustrating the course of justice.

He reaffirmed the commitment of the command to professionalism, transparency and the rule of law, assuring that the suspects would be charged to court upon the conclusion of investigations and that the public would be appropriately updated.

’A Share for Everyone, A Unit for Everyone’ launched at Monaragala and Batticaloa Investor Forums

The Colombo Stock Exchange (CSE), together with the Securities and Exchange Commission of Sri Lanka (SEC) has launched its ‘A Share for Everyone, A Unit for Everyone’ (Samata Kotasak, Samata Ekakayak) initiative at the investor forums in Monaragala and Batticaloa last week as part of an ongoing countrywide initiative to broaden investor participation.

The forums were held in Monaragala on 16 July at the Silanrich Hotel and in Batticaloa on 18 July at the FG Golden River Hotel. The forums attracted over 500 participants across both locations.

The ‘A Share for Everyone, A Unit for Everyone’ concept, developed by the SEC Chairman Senior Prof. D.B.P.H. Dissabandara, aims to promote a shared commitment to creating wealth and value within a fair, efficient, orderly, and transparent capital market by ensuring broad and accessible participation for all.

Under this initiative, the SEC and CSE will conduct investor forums across the country to enhance investor education and awareness, while encouraging greater investor participation beyond the Western Province. Leveraging the CSE’s nationwide presence and growing interest in the equity market, the programme will provide investors with increased access to the Sri Lankan capital market through both stockbroking firms and unit trust management companies.

The initiative will also offer forum participants the opportunity to receive investment coupons sponsored by the SEC and CSE, which can be used to support their equity investments.

The Investor Forums opened with presentations by senior economists from the Central Bank of Sri Lanka, including N. B. Janagan and Kasunka Herath, who provided a high-level overview of the country’s macroeconomic landscape.

The session also featured presentations by representatives of leading stockbroking firms, including First Capital Holdings PLC Vice President – Corporate Finance and Advisory Atchuthan Srirangan and HNB Stockbrokers Director – Sales Kapila Pathirage offering participants an overview of the capital market and its investment opportunities

Representatives from the unit trust industry conducted an introductory seminar on the operation and benefits of unit trusts. Speakers included Softlogic Asset Management Ltd., Manager- Business Development Kumudu Kekirideniya and Softlogic Asset Management Business Development Officer Mohamed Ashfer who introduced participants to the fundamentals of unit trust investing.

Both forums concluded with the highlight panel discussion and Q and A segment, which brought the diverse perspectives of the speakers and members of the SEC and CSE together to explore Sri Lankan equities. Panellists included the forums speakers as well as CSE Executive – Vice President Niroshan Wijesundere, as well as SEC Senior Manager of External Relations Sheena Goonaratna and Manager of External Relations Nimal Kumarasinghe.

During the investor forums, prospective investors were able to meet representatives from stockbroker firms and unit trusts to open accounts, with the first four-hundred participants being eligible to receive investment coupons gifted by the SEC and CSE.

The forums were conducted amidst a remarkable six-year growth in the capital market which saw the All-Share Price Index (ASPI) rise from 4,846 points in May 2020 to 22,310.80 points by the end of May 2026. This represents a growth of 360% and a compound annual growth rate (CAGR) of approximately 28.98% – with capital gains remaining tax-free.

Sri Lankan passport climbs to highest ranking in five years

Sri Lanka’s passport has risen to 94th place in the 2026 Henley Passport Index, its highest ranking in at least five years, reflecting a gradual improvement in the country’s global travel mobility.

The latest index shows Sri Lanka improving from 96th place in both 2025 and 2024. The country’s passport was ranked 100th in 2023, 102nd in 2022 and 107th in 2021.

The Henley Passport Index ranks passports according to the number of destinations their holders can access without obtaining a visa in advance, providing a measure of international travel freedom.

Singapore retained its position as the world’s most powerful passport in the 2026 index, while Afghanistan remained at the bottom of the rankings in 104th place.

The 2026 Henley Passport Index compares 199 passports across 227 travel destinations based on visa-free and visa-on-arrival access.

EFCC: APC chieftain warned me not to contest against Tinubu in 2027 – Makinde

Oyo State Governor, Engr. Seyi Makinde has disclosed that an unnamed chieftain of the All Progressives Congress (APC) had forewarned him not to contest against President Bola Ahmed Tinubu in 2027.

Makinde made this known in the July 2026 edition of the Monthly Newsletter, a copy of which was obtained by Tribune Online in Ibadan on Thursday.

Makinde submitted that a day after the warning was handed over to him, the Economic and Financial Crimes Commission (EFCC) requested copies of all the state government contracts and payments to contractors from 2021, without identifying any contractor, company, transaction, or alleged offence.

Tribune Online recalls that the Federal High Court sitting in Ibadan, in its ruling on suit no. FHC/IB/CS/61/2025, filed by the state government, acknowledged the EFCC’s statutory powers to investigate financial infractions and crimes but emphasised that such powers must be exercised strictly in line with the Constitution and the Rule of Law.

The special adviser to Governor Makinde on media, Sulaimon Olarenwaju, was quoted in a statement as saying that ‘the EFCC’s proposed investigation into Oyo State’s finances, particularly the demands contained in its letter of 2 June 2025, was speculative and amounted to a fishing expedition.

‘His Lordship noted that the constitutional rights of the plaintiffs to fair hearing could not be trampled upon under the guise of investigation.’

Makinde, in his newsletter, was quoted to have said, ‘An APC chieftain warned him on June 1, 2025, against contesting the 2027 presidential election after President Bola Tinubu was endorsed as the APC’s sole candidate.

‘A day after the warning, the EFCC requested copies of all Oyo State Government contracts and payments to contractors from 2021, without identifying any contractor, company, transaction, or alleged offence.’

Makinde said his administration did not resist the investigation but asked the EFCC to specify the contractors or transactions under investigation so the relevant documents could be provided.

‘The EFCC did not respond, prompting the Oyo State Government to seek judicial interpretation of whether such a broad request was lawful.’

He said the court affirmed the EFCC’s constitutional power to investigate financial crimes but ruled that such powers must be exercised within the Constitution and the rule of law.

He noted that the court described the EFCC’s request as ‘speculative’ and a ‘fishing expedition,’ holding that requests for information must be tied to a specific allegation.

Makinde said he would not speculate on the timing of the EFCC’s letter but invited Nigerians to consider the sequence of events and draw their own conclusions.

He stressed that no government is above legitimate investigation, adding that his administration has always been open to scrutiny and accountability.

‘Accountability must be evidence-based,’ warning against broad investigations conducted in the hope of uncovering wrongdoing.

He described the court’s decision as ‘a victory for the rule of law, not against the EFCC,’ saying it reinforces the principle that all institutions must operate within constitutional and legal boundaries.

‘The judgment underscores the need for leadership that respects due process, constitutionalism and the rule of law.’

DSL announces promotion of Pinidiyapathirage as Joint MD

Douglas and Sons Ltd., (DSL) has promoted Jayendra Pinidiyapathirage as the Joint Managing Director.

Prior to this promotion, he served as the Deputy Managing Director of DSL from January 2023.

Jayendra joined the organisation in March 1989 and has played a pivotal role in driving the company’s growth over the years.

In his new role as Joint Managing Director, he will work closely with the Chairman and Managing Director Saroj Perera and the leadership team to guide the organisation through its next phase of sustainable growth.

Commenting on the appointment, Perera said: ‘We are delighted to announce Pinidiyapathirage’s promotion to Joint Managing Director. His leadership, integrity and dedication have been instrumental in our achievements. We are confident that he will continue to inspire our teams and lead the company toward even greater success.’

IRCSL insurance awareness in Kurunegala and Kuliyapitiya today and tomorrow

The Insurance Regulatory Commission of Sri Lanka (IRCSL), in collaboration with the Insurance Association of Sri Lanka (IASL), will hold two major public awareness programmes in Kurunegala and Kuliyapitiya on 23 and 24 July 2026.

Conducted under the national theme “Insurance for All: For a Secure Future,” the initiative aims to improve public awareness of insurance, strengthen financial literacy, and encourage greater insurance inclusion among communities across Sri Lanka.

It will bring together a broad spectrum of participants, including public sector officials, business representatives, bankers, university students, Small and Medium Enterprise (SME) representatives, and members of the general public. The sessions will provide practical knowledge on the importance of insurance, policyholder rights and responsibilities, available insurance products, and the role of insurance in protecting individuals, families, and businesses against unforeseen financial risks.

The programs are scheduled as follows:

23 July 2026 – Provincial Council Auditorium, Kurunegala

Session 1 – 9.30 a.m. to 12.30 p.m.

Session 2 – 1.30 p.m. to 4.30 p.m.

24 July 2026 – Wayamba University of Sri Lanka, Kuliyapitiya (9.30 a.m. – 12.30 p.m.)

A special feature of the Kurunegala program will be the Insurance Industry Roadshow, which will be held throughout the day alongside the awareness sessions. All 29 licensed insurance companies in Sri Lanka will participate, giving the public a valuable opportunity to meet insurance advisors from both life and general insurance companies.

Public can learn about different insurance products and services, clarify their insurance-related questions, and receive guidance from industry professionals. Other key insurance industry stakeholders will also participate, allowing the public to better understand the insurance sector and the services it offers.

The roadshow will also include a Career Guidance Desk, where students, graduates, and job seekers can learn about career opportunities in the insurance industry, receive career advice, and submit their Curriculum Vitae (CVs) directly to participating insurance companies.

These sessions will focus on ethical conduct, professional standards, regulatory requirements, and good practices to help improve the quality of service provided to policyholders.

This awareness campaign forms part of IRCSL’s broader national strategy to increase insurance penetration and promote a culture of financial preparedness throughout the country. It also supports the Commission’s ongoing efforts to enhance consumer confidence and improve financial resilience through education and awareness.

The initiative is being organised with the active support of the Insurance Association of Sri Lanka (IASL) and other industry stakeholders such as Sri Lanka Insurance Brokers Association, Sri Lanka Insurance Institute etc. reflecting the industry’s collective commitment to expanding public access to insurance knowledge and services.

These programs build on the success of previous awareness campaigns conducted across the country, which have reached thousands of participants through workshops, educational sessions, and community engagement activities. IRCSL intends to continue expanding these district-level programmes to ensure that insurance education reaches every region of Sri Lanka.

The Commission warmly invites the public and all interested stakeholders to participate in these awareness programmes and gain valuable insights into how insurance can contribute to financial security and long-term well-being.

Union Bank Pensioners’ Day empowers independent retirement

Union Bank successfully hosted Union Bank Pensioners’ Day at the Bank’s Head Office, bringing together pensioners for a dedicated event focused on their financial wellbeing, healthcare and lifestyle needs.

The event coincided with the Bank launching Sri Lanka’s most competitive pension Loan extending a loan of Rs. 8 million at the lowest interest rates along with added benefits including Rs. 30,000 worth of free PickMe rides annually to Government Pensioners.

The Banks primary objective is to empower pensioners for an independent retirement. Based on the theme ‹Make your retirement a strength not a burden› Union Bank pensioners day event was attend by the Director General of Pensions Department Chaminda Hettiarachchi and featured a range of value-added services offered through partnerships with BYD JKCC Sri Lanka Nawaloka Hospitals, Vision Care, Lifeserv, and several other organisations, providing medical benefits, health screenings, and essential services to the attendees from across the country who gathered at Union Bank for an engaging day.

Pensions Department Director General Chaminda Hettiarachchi said that this is the first time a private bank has taken such an initiative to conduct event focused on empowering pensioners. He also highlighted that the Pensions Department has empowered and provided flexibility to the pensioners to obtain the pension loan from a bank if their choice.