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EU to allocate pound 710 million to support displaced people in Africa

The European Union will provide almost pound 710 million in support for displaced people and host communities in sub-Saharan Africa, as well as emergency assistance to people affected by crises around the world.

European Commission President Ursula von der Leyen announced the funding as part of Global Citizen’s 2026 campaign, according to the European Commission.

The funding package includes measures to support vulnerable migrants and displaced people in sub-Saharan Africa, including assistance related to migration, protection, voluntary return and reintegration. A separate portion will address humanitarian needs linked to conflicts, food insecurity, malnutrition and climate-related shocks.

The European Commission said the package also includes funding for the response to the Ebola outbreak in the Democratic Republic of the Congo and neighboring countries.

Von der Leyen said the EU support would benefit displaced communities across Africa and the communities hosting them, while also providing assistance to communities affected by war and other crises.

The announcement was made during the UN General Assembly High-Level Week in New York and formed part of international advocacy organization Global Citizen’s 2026 campaign.

The new funding is intended to strengthen humanitarian assistance and support communities facing displacement, conflict and other crises, with a significant share directed toward sub-Saharan Africa.

BSP: Consumers less gloomy in Q3

Filipino consumers may have become more upbeat about the country’s economic prospects in the third quarter due to expectations of higher earnings, additional sources of income and more stable employment, but they expect inflation to accelerate faster.

Based on the Bangko Sentral ng Pilipinas’ (BSP) Consumer Expectations Survey (CES) Report for the 3rd Quarter of 2026, the overall Consumer Confidence Index (CI) improved to -29.8 percent in the third quarter, compared to the -42 percent in the second quarter.

The CES showed better overall consumer confidence indices across all reference periods-the current quarter, next quarter and next 12 months.

However, the CI is still in the negative territory, which means more respondents are pessimistic than optimistic.

The central bank said the overall consumer outlook index is computed as the average of the three component indices, namely: overall economic condition, family financial situation, and family income.

The survey showed that the economic condition index improved to -59.4 percent in the third quarter of 2026 from -71.1 percent in the previous quarter.

Family financial situation index was also better in the third quarter of 2026 at -20.3 percent from the -36.2 percent in the second quarter.

Consumers’ family income index improved to -9.7 percent in the third quarter period from the -18.7 percent in the second quarter of 2026.

Purchases

The CES showed that Filipino consumers’ sentiment turned less pessimistic for the next quarter as the confidence index improved to -0.8 percent from the -16.3 percent in the second quarter of 2026.

Filipino households, meanwhile, have become more upbeat about the next 12 months as the index improved to 9.1 percent from the 0.2 percent index in the second quarter of 2026.

‘Consistent with the more favorable outlook for the year ahead, more households indicated that they were likely to purchase big-ticket items, such as real estate and motor vehicles, over the next 12 months,’ the central bank said in a statement.

Meanwhile, stronger saving prospects, coupled with weaker spending plans for day-to-day household expenses and lower borrowing intentions, suggest that households remain ‘prudent’ in managing their finances, the BSP said.

The consumer expectations survey also revealed that consumers expect inflation to reach 4 percent in July to September, higher than their 3.3-percent inflation expectation in the second quarter of 2026.

This exceeded the BSP’s 3-percent inflation target for 2026 but remained within the 4-percent tolerance ceiling.

Consumers expecting higher inflation cited the following concerns: perceived limited measures to mitigate price pressures, rising food and utility prices and tighter supply conditions.

The BSP said it continues to monitor developments in the Middle East and their potential effects on business and consumer sentiment, spending, and investment.

‘These indicators are among those considered in the BSP’s monetary policy decisions,’ the central bank said.

Why trust, not demand, is the biggest challenge in Nigerian real estate

Nigeria’s real estate market does not have a shortage of buyers. It has a shortage of certainty.

Housing demand is being driven by population growth, urbanisation and the continuing need for better housing, while Nigerians at home and abroad continue to view property as an important store of wealth. Yet many potential transactions take longer than they should because buyers cannot easily establish whether a developer, title, approval or promised delivery can be trusted.

That uncertainty has an economic cost. Buyers spend more time and money on due diligence, developers face longer sales cycles and higher customer-acquisition costs, investors price in additional risk, and capital moves more slowly. In a market that needs substantial investment to expand housing supply and urban infrastructure, the cost of uncertainty should not be treated as a minor inconvenience.

The problem is particularly visible among Nigerians living abroad. The World Bank estimates that Nigeria received about $20.9 billion in remittances in 2024, making it one of the largest recipients in sub-Saharan Africa. A significant share of diaspora wealth is invested in property, but distance makes verification more difficult. A prospective buyer in London, Houston or Johannesburg may be asked to commit substantial funds to a development that they cannot inspect regularly and whose documentation or delivery claims they may struggle to verify independently.

This creates a fundamental distinction between demand and effective demand. People may want to buy property, but willingness to commit capital depends on their assessment of risk. Where confidence is weak, demand can remain visible in enquiries and conversations without translating into completed transactions.

That distinction matters for the industry’s growth. If the constraint were simply insufficient demand, developers would need more marketing, better financing or stronger distribution. If uncertainty is suppressing transactions, however, the response has to be different: clearer information, stronger verification, reliable documentation and greater accountability.

Nigeria already has many developers that operate responsibly, obtain the required approvals and deliver projects to agreed standards. The difficulty is that buyers do not always have an efficient way to distinguish such developers from operators whose claims are less reliable. When information is difficult to verify, reputation becomes heavily dependent on personal recommendations and informal networks. That may work for people with extensive local connections, but it creates a significant barrier for first-time buyers and diaspora investors.

The consequences extend beyond individual transactions. When buyers cannot readily assess the quality of a development or the credibility of its promoter, they may demand greater discounts, delay decisions, or avoid the transaction altogether. Developers then spend more resources establishing credibility. Financial institutions and other investors may apply additional risk considerations. The cumulative effect is a less efficient market.

This is why independent verification deserves greater attention in Nigerian real estate. Organisations such as Thorpe Real Estate (TRE) are built around the proposition that buyers should be able to assess property opportunities using independently verifiable information rather than relying solely on assurances from sellers. The value of such an approach depends on the quality and transparency of the verification process itself.

Verification cannot eliminate commercial or legal risk, and it should not replace professional legal, financial, or technical due diligence. Its value is narrower but important: it can make relevant information easier to assess before a buyer commits capital.

A credible verification framework should therefore examine matters that can be independently established, including the identity and track record of the developer, title documentation, relevant planning and development approvals, project status and the consistency between what is marketed and what is actually being delivered. The methodology should be transparent, the evidence should be traceable, and assessments should be subject to periodic review.

Such standards would also benefit responsible developers. At present, a company that invests in proper approvals, documentation and delivery can face the same initial credibility hurdle as an operator that makes similar claims without equivalent evidence. A stronger verification culture would allow the market to attach greater value to demonstrable compliance rather than relying primarily on assurances.

Government has an important role, but this does not necessarily mean creating another regulatory institution. Existing land registries, planning authorities and development-control agencies already hold much of the information required to establish whether fundamental claims are valid. The greater challenge is making relevant information accessible, consistent and sufficiently reliable for buyers and investors to use.

Industry participants can complement this by adopting common disclosure standards. Developers could publish clear information on ownership, title status, approvals, project timelines, payment structures and material changes to delivery schedules. Where information changes, buyers should be told rather than left to discover the change after committing funds.

The market should also become more disciplined about claims. A property advertisement can create expectations about location, infrastructure, completion dates and returns that are not always equivalent to what a buyer will ultimately receive. Greater transparency would reduce the distance between marketing and measurable reality.

None of this removes the need for buyers to conduct their own due diligence. Property remains a significant financial commitment, and independent legal and technical advice will remain necessary. But a market in which every buyer must reconstruct basic facts from scratch is inefficient.

The question for Nigerian real estate is therefore not simply how to build more homes or attract more capital. It is how to reduce the uncertainty that prevents existing demand and capital from becoming transactions.

Nigeria has demand. It has developers with the capacity to build. It has domestic and diaspora capital seeking investment opportunities. What remains underdeveloped is the market infrastructure that enables participants to distinguish credible opportunities from uncertain ones.

Thorpe Real Estate’s focus on verification reflects a wider issue the industry must confront: trust becomes more valuable when it is supported by evidence. The more of it that can be converted into verifiable information, transparent standards, and accountable processes, the more efficiently capital can move towards projects capable of meeting Nigeria’s enormous housing and urban-development needs.

Thailand investigates reported network of Israelis over land purchases

Thai authorities have opened an investigation into as many as nine Chabad houses across the country amid concerns over land purchases, construction permits and the activities of a reported network of Israeli nationals, according to local media.

Authorities are examining the Chabad-Lubavitch centers, which are associated with the ultra-Orthodox Jewish movement, as part of a broader investigation into land ownership and business activities.

Suwannachawi said authorities would coordinate with relevant agencies to verify the company’s land ownership and ensure compliance with Thai law, while also examining construction permits and the sources of funding.

Initial inspections have reportedly uncovered ‘irregularities in the construction permit process, such as rooftop extensions and unauthorized structures,’ Suwannachawi said.

Authorities also seized products at a Chabad house in Phuket while investigating whether they had been imported and sold without the required permits.

The investigation comes amid growing scrutiny in Thailand over the activities of some Israeli tourists, including former Israeli military personnel.

Suwannachawi said several members of parliament had alerted him to what they described as a ‘network of Israelis’ involved in cemetery development and other businesses. According to his account, the group had purchased land worth nearly 100 million Thai baht, or around $3 million.

He said authorities needed to establish how the buyers intended to use the properties, citing concerns that their plans could conflict with local religious and cultural practices.

Earlier in September, Thailand’s Department of Special Investigation also opened an investigation involving Thailand’s chief rabbi, Yosef Chaim Kantor, and Israeli businessman Maimon David Marciano, according to Thai media reports.

Investigators are examining land purchases, possible use of Thai citizens as nominees for foreign buyers, and alterations made to buildings.

The Chabad-Lubavitch movement has a global network of religious centers and institutions. Claims linking the movement as a whole to political activities in Israel and the Palestinian territories are contested, and the activities of individual Chabad centers and members vary by location.

Legislator seeks investigation into JVA of electric cooperative

THE proposed joint venture agreement between an electric cooperative in Mindanao and a private company has drawn national attention as a House of Representatives deputy minority leader seeks an inquiry into the agreement while calls grow to protect public school teachers from being involved in a disputed and ongoing legal matter.

Deputy Minority Leader Antonio Tinio, the nominee to the House of the party-list group ACT Teachers, has co-authored House Resolution 1401 filed by South Cotabato Rep. Shirlyn Bañas-Nograles, directing the House Committee on Energy to conduct an inquiry, in aid of legislation, into the conditional joint venture agreement (JVA) between the South Cotabato II Electric Cooperative, Inc. (Socoteco II) and Ignite Power and Energy Corporation (Ignite).

The resolution seeks to determine the agreement’s compliance with existing laws and regulations; ensure transparency and accountability in the management of cooperative assets; protect the rights and economic interests of member-consumer-owners; and strengthen the regulation of joint venture arrangements involving electric cooperatives.

The issue also involved the participation of public schools and teachers in the Socoteco II plebiscite on the proposed JVA. The Department of Education (DepEd) withdrew from the memorandum of agreement covering the use of school facilities and participation of its personnel in the activity.

The move came after concerns were raised over the possible legal and administrative exposure of teachers involved in the plebiscite. Diocese of Marbel Bishop Cerilo Casicas earlier appealed to Education Secretary Juan Edgardo Angara to protect teachers from being drawn into a disputed and ongoing legal matter.

‘The concerns raised by Bishop Casicas and local officials are valid and deeply worrying. Our teachers must not be used, and worse, exposed to legal jeopardy, in exercises tied to a disputed and controversial deal. DepEd’s withdrawal is a welcome step, but the department must still guarantee protection and clear guidance for teachers and school heads caught in the middle of this dispute,’ Tinio said.

Tinio said the congressional inquiry would examine whether the agreement serves the interests of electric cooperative members and the public.

‘Once again, we are seeing large business interests expanding their reach into public utilities. Electric cooperatives were built through the collective efforts and sacrifices of communities to provide service to the people, not to become vehicles for concentrating control and profit among a few private interests,’ Tinio said.

He added that agreements involving cooperative assets must undergo thorough review.

‘Ultimately, it is the member-consumer-owners who stand to lose or gain the most from this deal. Their right to a fair, transparent, and credible process must be respected at all costs. The inquiry under HR 1401 will shed light on whether this JVA truly serves the public interest or merely paves the way for a takeover of yet another public utility,’ Tinio said.

Sajith calls for urgent plan to successfully face worst weather and climate change

Opposition Leader Sajith Premadasa has called for an urgent plan to successfully face the worst weather and climate change in view of the El Niño and La Niña.

‘Because weather and climate conditions change rapidly, creating droughts in one region and heavy rainfall in another, there is a negative impact on public life. As a country, we must examine this matter with continuous dedication and keen attention. Many experts point out that predictions carry inherent uncertainty, as forecasted events may or may not occur. Under these circumstances, stated that it is most appropriate to prepare plans assuming the worst possible scenario will unfold,’ said the Opposition Leader while addressing the Parliamentary Forum on Climate Change, which is co-chaired by Professor L.M. Abeywickrama and himself.

Since Prof. Abeywickrama was unable to attend, MP Lal Premanath joined as the Acting Co-Chair of the Forum.

Premadasa stated that the Parliamentary Forum on Climate Change was able to predict El Niño and La Niña conditions beforehand. He stressed that the country’s preparedness must be built with close attention and vigilance to the potential impacts of four major phenomena: El Niño, La Niña, ENSO, and the Indian Ocean Dipole (IOD).

El Niño and La Niña are currently affecting the entire world

Highlighting the global impact of these conditions, the Opposition Leader noted that weak monsoon rains in India have negatively affected its agricultural sector. In Indonesia, a prolonged dry period triggered severe fires that caused massive destruction. In Peru, over 1.2 million people are predicted to be affected, while Nepal recently suffered severe flooding and extensive damage due to disaster conditions.

Stressing that Sri Lanka must consider every sector that can be impacted by El Niño and La Niña, Premadasa said information must be gathered in advance so that necessary measures can be taken as soon as risks emerge. These conditions can impact water resources and reservoirs, affecting drinking water, irrigation, environmental needs, and power generation. Equal attention must be given to agriculture, food security, and managing human risks posed by droughts and landslides.

Attention should also be focused on coastal and fishing communities, energy generation, wildlife, and biodiversity.

Given the uncertainties created by El Niño, La Niña, ENSO, and the IOD, the country must prepare on the premise that impacts could be severe. The Opposition Leader emphasised that the Government, non-Governmental organisations, and civil society must collectively determine how to face these challenges.

The country needs a new disaster management mechanism

The existing disaster management structure and program are no longer sufficient to meet new challenges. The Opposition Leader proposed that Sri Lanka adopt a new mechanism focused on integrated responses and advance preparation to minimise damage, citing the disaster management model of India’s Odisha state as an example.

He also noted that the concept of multidimensional poverty was identified through a UN Development Program (UNDP) report released two years ago, marking the first time the legislature focused attention on multidimensional poverty.

The meeting also brought together distinguished experts from UN agencies to examine the potential impacts of El Niño on Sri Lanka’s agriculture and food security. Food and Agriculture Organisation (FAO) Senior Agriculture Specialist Dr. W.M.W. Weerakoon delivered a comprehensive presentation that provided the basis for an in-depth technical discussion. Valuable perspectives and expert insights were also contributed by FAO Assistant Representative Nalin Munasinghe, FAO/Anticipation Hub’s W.G. Winson Gnanatheepan, UNDP Team Leader – Climate and Environment Dr. Buddhika Hapuarachchi, World Food Program (WFP) Deputy Country Director Robert Oliver, and UN Office of the Resident Coordinator Sri Lanka Resilience Window Coordinator Wagisha Perera.

The meeting also featured a highly relevant and informative presentation by Prof. Rathnasiri Premathilake of the Postgraduate Institute of Archaeology (PGIAR), University of Kelaniya, on El Niño and La Niña Impacts on Summer Monsoon Rainfall in Sri Lanka. His research introduced an important historical and palaeoclimatic dimension to the discussion, drawing on radiocarbon-dated sedimentary sequences extending back approximately 46,000 years and biological indicators, including fossil pollen, to reconstruct past climatic and environmental changes. Evidence from sites including Horton Plains, Fa-Hien Lena, and Kabella Lena in the Runakanda-Sinharaja forest landscape provided a valuable long-term perspective on climatic variability and the influence associated with El Niño and La Niña conditions on Sri Lanka’s rainfall patterns and environment.

Lacson warns Dizon of possible criminal liability over Taguig project cover-up

SEN. Panfilo M. Lacson on Monday warned Public Works (DPWH) Secretary Vivencio Dizon that any attempt to cover up anomalies in infrastructure projects in Taguig City could expose those involved to possible criminal liability.

Dizon, Lacson said, should come clean on the red flags found by the DPWH’s own inspection teams that had findings in some 68 infrastructure projects in Taguig -including the slope protection project along Taguig River whose billing photos had geotagged coordinates pointing to Leyte.

‘I told him not to deny the existence of ghost projects because we already submitted the appropriate records to the Ombudsman. You will get into trouble if you try to cover up. Let’s all just come clean on the issue,’ he said in a radio interview.

Another crackdown at DPWH?

PRESIDENT Marcos has not ruled out another crackdown among the officials and personnel of DPWH after discrepancies in the details of flagged infrastructure projects in Taguig cropped up.

In a hearing in the Senate last week, Dizon, who is still in acting capacity, said there was no ‘ghost’ or non-existent infrastructure project in Taguig.

The claim was challenged by Lacson, who said his own team has discovered that at least one infrastructure project in Taguig has geotagged coordinates located in Leyte.

Quoting Dizon, Palace Press Officer Claire Castro said DPWH has yet to come out with a ‘conclusive ghost project’ in Taguig for now.

‘However, this does not necessarily mean that there are no anomalies to speak of in Taguig. He [Dizon] is neither confirming nor denying their existence. He clarified this point, noting that a more thorough and meticulous investigation is required to ensure there is no cover-up,’ Castro said in Filipino in a press briefing on Monday.

She said DPWH is now conducting an internal investigation to determine if the geotagging discrepancy was caused by a possible attempt to sabotage DPWH and then cover it up.

‘The DPWH will not let this slide, and neither will the administration,’ Castro said.

‘If there is any wrongdoing at the DPWH and attempts to shield those involved, the President will not hesitate to fire those responsible, because this is definitely and absolutely prejudicial to the government,’ she added.

When asked if Dizon still has trust and confidence in Marcos, Castro said there is no discussion in the Cabinet on the performance of DPWH chief.

‘At present, there is no discussion or information reaching us regarding any issues concerning Secretary Dizon’s work,’ she said.

Lacson said Dizon called him over the weekend after he disclosed details of the ‘Slope Protection along Taguig River Project’ whose geotagged photos attached to its billing reports contained coordinates pointing to Leyte province, some 600 kilometers away from Taguig.

The project, identified by Contract ID 220B0106, had three locations in Tacloban City reflected in the geotagged photographs, Lacson said. Records showed that the DPWH paid St. Timothy Construction Corp., which he identified as owned by the Discaya family, some P96.5 million for the project.

Not isolated case

LACSON said this project is not an isolated case but only the most brazen and telling, since there are several similar cases of highly questionable and suspected ‘ghost’ projects in Taguig based on the site inspection reports.

‘I highlighted this project because it was so brazen, with the photos in the billing reports pointing to an area 600 kilometers away,’ he said, explaining in Filipino.

Also, Lacson said that while they are not yet concluding that the flagged projects are ghosts, it is not correct to conclude that there are no ghost projects in Taguig, based on the responses of Dizon and Undersecretary Ricardo Bernabe III to the questions raised by Sen. Alan Peter Cayetano during last Friday’s hearing on the DPWH’s proposed 2027 budget.

‘We are not concluding that those flagged projects are ‘ghosts’ but it is also not correct to conclude that there are no ghost projects in Taguig. The project I described was one of many with findings. In some cases, the inspection teams could not verify the projects because they were covered up by newer projects,’ he said.

‘Very apologetic’

DURING Dizon’s call, Lacson said, the secretary was ‘very apologetic’ and claimed he had been ‘set up’ when he told senators during last Friday’s Senate Finance subcommittee hearing on the DPWH’s proposed 2027 budget that there were no ghost projects in Taguig.

In response, Lacson sent Dizon a video recording of the portion of the hearing where Dizon ‘clearly’ said there were no ghost projects – followed by Bernabe’s claim that all 107 projects in Taguig ‘have accomplishments.’

Lacson said he was also informed on Sunday that a media outfit attempting to verify records on the slope protection project through the DPWH website found the site ‘down.’ He said that when he told Dizon about this, the website appeared to be back up.

Lacson said the issue was particularly troubling because the DPWH’s own inspection teams had found red flags in 68 projects in Taguig. Five DPWH teams composed of personnel from the Bureau of Quality and Safety, Bureau of Construction, Bureau of Research and Standards, and Bureau of Maintenance were sent to Taguig from July 23 to 25 to inspect projects there.

‘I told him to be careful because whoever takes part in a cover-up will become criminally liable. At the very least, they will become accessories after the fact because of the coverup,’ Lacson recalled telling Dizon.

Also, Lacson said that last Friday, he learned from Senate Finance committee chairman Sen. Jose Victor Ejercito that Dizon had gone to Cayetano’s Senate office before the subcommittee hearing on the DPWH budget started.

He said that at the time, he had a hectic schedule as he was chairing the Foreign Relations committee hearing of the Commission on Appointments (CA).

‘I asked Senator Ejercito where Dizon was. I was told he was in Cayetano’s office, and that they were talking,’ Lacson said.

Lacson said he did not expect the categorical denial from Dizon about ghost projects in Taguig. He said he had to defend his position especially because he was given the ‘receipts’ of the projects.

He said he could not accept Dizon’s statement that there were no ghost projects ‘as of now,’ noting that the DPWH’s own inspection reports were dated July 23 to 25.

‘I sympathize with the DPWH’s engineers who were contradicted by their own boss. When Dizon called me and told me he was surprised by my revelation on the Taguig project with photos in Leyte, I told him it was in the DPWH’s own report,’ he said. With Samuel P. Medenilla

Shelter Afrique to float Sh65billion bond in Q1 2027

Housing-focused Pan-African multilateral development bank Shelter Afrique plans to issue a $ 500 million (Sh64.83 billion) sustainability-linked bond focused on East Africa in the first quarter of 2027. A sustainability-linked bond is a type of bond in which the issuer’s financial or structural terms change based on whether it reaches specific environmental, social, or governance goals. Shelter Afrique said the multi-currency bond will be floated in Kenya, Uganda, Tanzania, and Rwanda.

‘We are in the space of mobilising resources from our local markets. We are currently in the market in West Africa where we are issuing about 60 billion CFA francs in the monetary union to finance housing projects in local currency,’ Shelter Afrique MD and CEO, Thierno-Habib Hann, said while speaking at the second Bullish Africa Summit in New York.

‘We plan to go to market and issue US$500 million worth of local currency sustainability linked bond in East Africa in early 2027 and we are targeting four markets – Kenya, Uganda, Tanzania and Rwanda.’

According to the CEO, the lion’s share of the planned sustainability-linked bond will be floated on the Nairobi Securities Exchange owing to the size and depth of liquidity in the market.

Shelter Afrique had earlier said that proceeds from the bonds would be invested in Kenya, Rwanda, Uganda, and Tanzania. The institution has housing projects and investments in mortgage refinance companies in multiple African markets.

Shelter Afrique last issued a bond in Kenya in 2013, a five-year note of Sh5 billion at an interest rate of 12.75 percent.

Shelter Afrique says that the West and East Africa bonds are designed to ensure that the implementation of housing projects in the two regions is shielded from foreign currency risk associated with borrowing in hard currency.

‘One major risk is currency risk, and that is why we must mobilise resources through our local markets. You can have an amazing project that offers you huge returns, but if your local currency depreciates over the life of the project, that can really eat into your return and potentially push the project to default,’ Hann said.

Foreign currency risk in debt occurs when a borrower takes out a loan denominated in a currency different from their home currency, meaning a drop in the value of the borrower’s local currency makes the debt much harder to repay. Shelter Afrique closed 2025 with a $234.82 million (Sh30.44billion) asset base, of which $174.08million (Sh22.57billion) was attributable to loans disbursed to customers, having grown from $134.7 million (Sh17.46billion) a year earlier.

The development bank has 44 member countries, with Nigeria as the largest shareholder with a 17.01 percent stake. Kenya has a 15.81 percent stake in the bank, while the African Development Bank and the African Reinsurance Corporation hold 11.41 percent and 3.39 percent stakes, respectively.

Next generation of AI talent takes centre stage as AI Week 2026 kicks off

Sri Lanka AI Week 2026, powered by the theme ‘AI Amplified,’ officially kicked off on Friday with the commencement of the AI Hackathon, bringing together students from 27 public and private universities under one roof to showcase their talent, creativity and problem-solving capabilities through artificial intelligence (AI).

The AI Hackathon marks the beginning of Sri Lanka AI Week 2026, a landmark week-long initiative pioneered by the Digital Economy Ministry and SLT-MOBITEL, bringing together the public sector, private sector, technology leaders, innovators, academia and the wider community to explore the transformative potential of AI and its role in shaping Sri Lanka’s digital future.

Initiatives such as the AI Hackathon highlight SLT-MOBITEL’s commitment to nurturing the future technology talent of Sri Lanka and ensuring that young people develop the skills and capabilities required to thrive in an increasingly AI-powered future.

Continuing this landmark week-long initiative, which aims to position Sri Lanka as an AI hub in the South Asian region, the public are invited to experience the AI Exhibition, taking place on 29 and 30 September at Monarch Imperial Colombo from 8 a.m to 8 p.m. The exhibition will feature world-class technologies from more than 35 exhibitors, including global technology brands such as Huawei, ZTE, Google and Microsoft.

The AI Exhibition will provide the public with an opportunity to experience first-hand how AI is moving beyond being a technology concept to becoming a transformative tool that can uplift and enhance different aspects of everyday life and key sectors, including education, agriculture, healthcare, banking and financial services.

With Sri Lanka AI Week 2026 bringing together a range of engagements focused on innovation, collaboration, talent and the future of AI, the initiative seeks to create greater awareness of the opportunities presented by AI while supporting the development of the country’s emerging digital and technology ecosystem.

Food supplies ‘still secure’

The government has warned consumers against panic buying and businesses against hoarding or price gouging as floods disrupt transport.

Government spokeswoman Ploythalay Laksameesaengjan said agencies had been ordered to ensure supplies of essential goods as flooding, including in Bangkok, was monitored.

Businesses must display accurate prices under the 1999 Prices of Goods and Services Act. Those found hoarding goods, raising prices or exploiting consumers could face up to seven years in prison, a fine of up to 140,000 baht or both.

Ms Ploythalay said the Department of Internal Trade had found supplies were sufficient and there was no justification for price increases. It was coordinating with manufacturers, wholesalers and retailers to check stocks and speed distribution.

Department director-general Wittayakorn Maneenetr said large retailers could replenish stocks as normal, but some convenience stores in flood-hit Bang Kapi, Min Buri and Rangsit faced transport problems.

Most fresh and wholesale markets remained open without shortages, although some had fewer vendors and customers because flooding made travel difficult, he said.

The department was also continuing to monitor production, weather, transport and the operation of shops and markets to assess effects on prices and demand and respond quickly to problems.