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Deepti Sharma spun her magic with the ball to notch a three-wicket haul as India beat Sri Lanka by 59 runs in DLS method in their ICC Women’s Cricket World Cup 2025 opener.

Having played a vital role with the bat earlier in the game, Sharma managed to get rid of Sri Lanka Captain Chamari Athapaththu, Kaveesha Dilhari and Anushka Sanjeewani.

Removing Sri Lanka’s star opener for 43 during their pursuit of 270, Deepti’s display allowed India to tighten their grip on the contest, paving way for other bowlers to benefit, with Sree Charani and Amanjot Kaur nabbing a wicket each in quick succession.

Meanwhile, Kranti Gaud had opened the floodgates for India with their first wicket in the tournament by cleaning up Hasini Perera.

Making her tournament debut, Gaud deceived the Sri Lanka opener with a delivery that kept low and crashed into the off stump.

Earlier, Amanjot Kaur and Deepti Sharma helped India pull their way back into the contest at the ACA Stadium in Guwahati.

After the Harmanpreet Kaur-led side was pinned down to 124/6, thanks to Sri Lanka’s prolific effort with the ball, the duo combined 103 runs for the seventh-wicket partnership.

Sneh Rana also constructed a vital cameo – 28 off 15 deliveries – producing two fours and as many maximums to help India past the 250-run mark.

For Sri Lanka, Inoka Ranaweera had turned the game in Sri Lanka’s favour by removing Harleen Doel, Jemimah Rodrigues and Harmanpreet Kaur in quick succession to leave India reeling at 121/5.

The Sri Lankan tweaker became the second oldest player to take a four-wicket haul in Women’s ODIs, and the oldest to do so at the Women’s Cricket World Cup.

Sri Lanka skipper Chamari Athapaththu then added to India’s troubles in the by dismissing Richa Ghosh with Udeshika Prabodani taking a sharp catch at cover.

The surge of wickets came after the contest was reduced to 48 overs a side after persistent drizzle kept players off the field for over an hour.

Shortly after resumption, Pratika Rawal’s steady knock of 37 from 59 balls came to an end as she stepped out to Inoka Ranaweera but got picked out deep midwicket. Vishmi Gunaratne held on to the catch at the second attempt, breaking India’s 50-run partnership.

Sri Lanka Captain Chamari Athapaththu had won the toss and elected to field first in their tournament opener against in Guwahati.

HNB Managing Director and Chief Executive Officer Damith Pallewatte has been appointed to the Governing Board of the Institute of Bankers of Sri Lanka (IBSL), the country’s apex body for banking education and professional development.

Founded in 1964 and incorporated by an Act of Parliament in 1979, IBSL has been at the heart of advancing banking knowledge, certification, and professional standards for over six decades. Its Governing Board includes representatives from the Central Bank of Sri Lanka, state commercial banks, and licensed financial institutions, reflecting its pivotal role in shaping the future of the industry.

HNB Managing Director and CEO Damith Pallewatte said: ‘I am honoured to serve on the Governing Board of the Institute of Bankers of Sri Lanka. For more than six decades, the Institute has been central to building the skills and integrity of our profession. At a time when banking is being reshaped by digitalisation, sustainability, and new customer expectations, the role of professional education has never been more critical. I look forward to working with my colleagues at IBSL. With my experience spanning risk management, corporate and wholesale banking, credit, and operations to expand learning opportunities and ensure that Sri Lankan bankers are equipped to thrive in the years ahead.’

Appointed as HNB’s Managing Director/CEO in November 2024 after serving as Acting CEO earlier that year, he has been instrumental in strengthening HNB’s wholesale banking franchise, having previously served as Deputy General Manager of the Wholesale Banking Group. Before joining HNB in 2015, he was Chief Risk Officer at Nations Trust Bank, where he led the development of robust risk frameworks during a period of global financial turbulence.

An accomplished professional, Pallewatte holds an MBA from the Postgraduate Institute of Management, University of Sri Jayewardenepura, and a BSc. Management (Hons.) from the London School of Economics (University of London). He is a Fellow of the Chartered Institute of Management Accountants (UK), a Chartered Global Management Accountant, and a Certified Financial Risk Manager (FRM) from GARP.

President Anura Kumara Disanayake, during his official visit to Japan at the invitation of the Japanese Government, held discussions yesterday with Japan International Cooperation Agency (JICA) President Dr. Tanaka Akihiko at the Imperial Hotel in Tokyo, marking a fresh chapter in bilateral cooperation.

President Dissanayake expressed gratitude for Japan’s steadfast support, particularly through the resumption of concessional yen loans via JICA, which he noted was playing a vital role in Sri Lanka’s national development drive.

JICA President Dr. Akihiko reaffirmed Japan’s long-term commitment to Sri Lanka and announced that the long-delayed Bandaranaike International Airport (BIA) expansion project in Katunayake will soon resume, alongside continuous monitoring of Sri Lanka’s macroeconomic reforms.

He also stressed the importance of strengthening the private sector, industry and agriculture as engines of sustainable economic growth.

The two sides also reviewed progress on the Waste Management Plan in the Western Province, while Sri Lankan representatives sought Japanese assistance in advancing the country’s digital economy, particularly in research on artificial intelligence and the establishment of an AI Neutral Centre.

The meeting was capped by the signing of a Grant Agreement for the Project for the Enhancement of Productivity in the Dairy Sector, underscoring Japan’s continued investment in Sri Lanka’s long-term development.

Foreign Affairs, Foreign Employment and Tourism Minister Vijitha Herath and a group of other officials participated in this event.

Amuna Ayurveda and Wellness Retreat has been honoured with the title of ‘Sri Lanka’s Best Wellness Retreat 2025’ at the World Spa Awards.

This distinguished accolade places Amuna among the most revered wellness sanctuaries in the world, underscoring its unwavering commitment to authentic Ayurveda, transformational guest experiences, and exceptional standards in holistic healing.

Nestled in the heart of Sri Lanka’s Cultural Triangle, near the tranquil Kandalama Lake in Sigiriya, Amuna is an oasis of serenity where nature, culture, and ancient healing traditions converge. Designed with sustainability and mindfulness at its core, the retreat offers a deeply immersive experience with traditional Ayurveda treatment rooms, Shirodhara therapy spaces, herbal baths, and steam rooms-all guided by experienced Ayurvedic doctors and therapists. Each guest receives a personalised program with treatments for detoxification, rejuvenation, stress and insomnia management, immune support, yoga, meditation, and nutrition – prepared using locally sourced ingredients.

Guests from across the globe consistently praise Amuna’s authenticity, genuine care, and peaceful ambiance, describing it as more than just a wellness retreat-a soulful journey of renewal and self-discovery. This international recognition from the World Spa Awards validates Amuna’s position as a trailblazer in Sri Lanka’s wellness tourism sector, and as a destination that seamlessly fuses ancient wisdom with modern comfort.

Hayleys Leisure Managing Director Rohan Karr said, ‘This award is not just a win for Amuna, but for Sri Lanka as a whole. It reflects our belief in Ayurveda’s power to heal, to transform, and to connect people to something deeper-and it motivates us to continue nurturing sustainable, purpose-driven travel.’

CEAT Kelani Holdings has been recognised as Sri Lanka’s Employer Brand of the Year 2025, while its Vice President – Human Resources Thushara Hettithantrige was honoured as a ‘Topmost HR Leader of Sri Lanka’ at the 2025 World HRD Congress Sri Lanka awards presentation held in Colombo recently.

The evaluation process for the Sri Lanka awards was based on criteria that encompassed brand strategy, employee value proposition, recruitment and retention, diversity and inclusion, employer reputation, innovation, creativity and outcomes.

The World HRD Congress is a global platform for human resource professionals founded by Dr. R.L. Bhatia, with a dynamic presence across Asia, Africa and the GCC. It is governed and run by professionals and HR leaders across multiple countries with the objective of bringing them together on a single platform.

These latest accolades affirm CEAT Kelani’s commitment to aligning its business and HR strategies to nurture a truly happy workforce and sustain a culture built on shared values. With a strength of more than 1,000 employees – including over 150 who have dedicated two decades of service – the Company has consistently set benchmarks in employee engagement, retention and overall workplace wellbeing.

Transparent performance management systems, talent development initiatives, succession planning, career management programmes, and a healthy partnership with its Trade Union are integral to CEAT’s employee value proposition, the company said.

CEAT Kelani Chief Executive Officer and Managing Director Ravi Dadlani, ‘We also prioritise work-life balance and employee welfare through activities that extend to families, and implement HR policies that emphasise internal recruitment, job enrichment, job rotation, and career planning and provide special loan schemes for professional qualifications. Additionally, our robust recognition and rewards policy celebrates employees who deliver exceptional value through innovation.’

These elements have helped CEAT Kelani distinguish itself as an employer of choice in Sri Lanka and have earned the company a reputation for building a resilient and motivated workforce dedicated to driving innovation and growth.

Police yesterday disclosed that an underworld figure killed in Middeniya earlier this year had been inside a vehicle that pursued rugby player Wasim Thajudeen shortly before his death in 2012.

Acting Police Media Spokesperson Nihal Thalduwa said the man, identified as Anura Vidanagamage, known as ‘Middeniya Kajja’, was recognised by his widow in relation to the case.

Investigators believe Vidanagamage was among those who followed Thajudeen’s car on the night of his death. Thajudeen, a former national rugby player, was found dead in his vehicle in May 2012. Although initially reported as a car accident, the case was later reclassified as a homicide.

Vidanagamage, alleged to have ties to organised crime, was shot dead in Middeniya earlier this year. Police said his role in the Thajudeen case has now resurfaced during ongoing probes into underworld activity and unresolved high-profile killings.

Further investigations are underway.

World number one Carlos Alcaraz beat Taylor Fritz 6-4 6-4 at the Japan Open – before pulling out of this week’s Shanghai Masters.

Alcaraz secured his eighth ATP title of the year in Tokyo.

But he then announced that he has withdrawn from the tournament in Shanghai, which starts on Tuesday, writing on Instagram that ‘the best decision is to rest and recover’.

‘Unfortunately, I’ve been struggling with some physical issues and, after discussing with my team, we believe the best decision is to rest and recover,’ he wrote.

The Spaniard twisted his left ankle during his opening-round match in Tokyo last Thursday.

But he showed no signs of an issue during the final, broke for 5-4 and served out for the first set against Fritz.

Fritz twice required treatment to his left thigh before returning for the second and Alcaraz seized the opportunity to pile on the pressure.

The American was broken twice and trailed 4-1 but did offer some resistance in the closing stages, chalking one of those off, but didn’t have enough to stop the six-time Grand Slam champion.

Since losing against Jannik Sinner at Wimbledon in July, Alcaraz has won three successive ATP titles – the Cincinnati Open, US Open and Tokyo Open.

But he will not take part in the tournament in Shanghai, where he reached the quarter-finals last year.

The Japan Open is Alcaraz’s 67th win of the season as he closes in further on Sinner’s tally of 73 wins in 2024.

The Inland Revenue Department (IRD) has announced a major overhaul of Sri Lanka’s VAT refund system, replacing the Simplified Value Added Tax (SVAT) scheme with a risk-based refund mechanism effective today.

The IRD stated that the new mechanism aims to facilitate faster and more efficient VAT refunds for eligible exporters and projects while reducing opportunities for fraud and errors.

Under the new system, refunds will generally be issued within 45 days of submitting a proper VAT return, depending on the taxpayer’s risk rating. Eligible VAT registrants will be assessed using a statistically robust risk-based methodology and classified into three categories: low, medium, and high risk. Low and medium risk taxpayers can expect refunds without prior verification, while high risk taxpayers will undergo pre-verification before refunds are processed.

According to the IRD, eligible recipients include exporters with direct exports exceeding 50% of their total supply in the preceding year, approved projects under Section 22(7) of the VAT Act, and suppliers to designated Special Projects (SP) and Strategic Development Projects (SDP), where such supplies constitute over 50% of their total supply.

The IRD noted that any non-compliance or errors detected in submitted schedules will pause the 45-day refund timeline until rectification, ensuring accountability in the process.

The SVAT scheme, introduced in 2011, has been a cornerstone of the country’s taxation framework, particularly supporting exporters and strategic projects. However, the move to replace SVAT comes amid growing concerns over VAT compliance and past instances of large-scale fraud.

Notably, Sri Lanka experienced the largest VAT fraud in South Asia in the early 2000s, resulting in a loss of around Rs. 357 million due to unlawful refunds to non-existent companies.

The Government and IRD face a critical challenge in ensuring that the new refund mechanism is robust, transparent and resistant to corruption. With past VAT and income tax refund systems proving vulnerable, policymakers will need to balance efficiency with stringent verification to safeguard public funds.

On 26 September, leading export associations voiced deep concerns and warned of a looming cash flow crisis that could choke the country’s $ 19 billion export target for 2025. At a joint press briefing, representatives from a range of key export industries stressed that while the move is framed as aligning with International Monetary Fund (IMF)-backed reforms, the absence of a tested and functioning VAT refund mechanism threatens to withhold nearly 8% of export earnings or about $ 80 million each month from the sector (https://www.ft.lk/front-page/Exporters-fear—80-m-monthly-cash-crunch-if-SVAT-removed-and-no-refund-system/44-782189).

Sri Lanka could face additional debt service payments of between $ 150 million and $ 270 million a year from 2028 if its economy grows faster than projected, according to the IMF. Payments would continue until 2038 and are capped at around $ 250 million annually.

‘In the case of Sri Lanka, the one-time adjustment nature of the macro-linked bonds presents risks to Sri Lanka as higher payments after 2028, once triggered, would persist even if economic performance were to deteriorate thereafter,’ the IMF said in September 2025 working paper titled ‘Sri Lanka’s Sovereign

Debt Restructuring: Lessons from Complex Processes’.

The extra payments depend on GDP outcomes between 2025 and 2027.

‘Scenarios 1, 2, and 3 are triggered if dollar GDP in 2025-27 exceeds $ 107 billion, $ 99 billion and $ 94 billion, and 2024-27 cumulative real growth exceeds 11.5%,’ the report explained.

Once these thresholds are met, higher payments become permanent for a decade regardless of what happens to growth later.

The IMF noted that State-contingent debt treatments helped address concerns about macroeconomic uncertainties, but designing them prudently was important.

These instruments, known as State-Contingent Debt Instruments (SCDIs), link a country’s payments to its economic performance.

They have been used in Argentina, Greece and Ukraine to bridge differences between debtors and creditors by allowing creditors to trade lower upfront recovery for potential higher future payments.

In Sri Lanka, however, SCDIs constituted a core part of creditors’ recovery and prolonged the negotiations due to their complexity.

‘They can introduce political complications in the future in case higher payments are triggered but are not socially accepted’ the Staff Report said.

While the Fund does not get involved in the details of the instruments’ design in specific cases (this is an issue for the authorities, their creditors, and respective legal and financial advisers), the Fund needs to assess the impact of these instruments on program goals, i.e., the restoration of macroeconomic and debt sustainability,’ it added.

The IMF does not design these instruments itself but stressed it must evaluate their impact on debt sustainability.

This includes assessing whether the extra payments make it more likely that debt targets are breached, whether different groups of creditors are treated fairly, and whether design risks such as uncapped exposures or poorly chosen triggers could undermine repayment capacity.

The Fund explained that these assessments involve ‘complex modelling under the SRDSF framework, which informs the extent to which upside risks can be shared with creditors without compromising debt sustainability.’

The SRDSF, or Sovereign Risk and Debt Sustainability Framework, uses fan charts based on past economic data to simulate thousands of possible outcomes for debt and financing needs.

The IMF then tests whether adding the SCDIs would increase the probability of crossing debt safety thresholds, worsen debt in bad economic scenarios, or create excessive risks in extreme cases.

According to the IMF, Sri Lanka’s arrangement met these conditions. The probability of breaching debt-to-GDP and gross financing needs targets was within acceptable limits.

In scenarios where financing needs were already too high, the SCDIs did not make them worse compared to standard bonds.

The report also noted that ‘the 90th percentile contributions to average GFNs were below 0.4% of GDP,’ meaning even in the most adverse 10% of outcomes, the additional burden was still relatively small. Payments were also capped at $ 250 million per year.

Even so, the Fund cautioned that ‘some risks remain as no methodology can perfectly capture such complex uncertainties.’

Mahindra Ideal Finance Ltd. (MIFL), has further expanded its island-wide presence with the opening of a new branch in Gampola on 18 September 2025. This marks the company’s 37th branch and reflects its continued commitment to improving access to financial services across the Central Province and beyond.

MIFL’s Managing Director and Chief Executive Officer Mufaddal Choonia, led the opening ceremony, together with members of the company’s senior management and branch staff. The new branch offers a full portfolio of services, including multi-brand vehicle leasing, business and SME loans, revolving loans, gold loans and fixed deposits, aimed at supporting both individual and business customers in the area.

‘Our expansion into Gampola is part of a broader effort to bring customised, transparent and flexible financial solutions closer to where our customers live and work. We believe every Sri Lankan should have access to tools that help them build a better future for themselves, regardless of geography,’ Mufaddal said.

The Gampola branch adds to MIFL’s growing regional network, which plays a central role in the company’s strategy to extend responsible and technology-enabled finance to emerging communities in Sri Lanka. In recent months, MIFL has introduced several new initiatives, including tailored financial solutions for MSMEs and multi-brand vehicle importers, supported by strategic partnerships and financial product innovation.