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Colombo Dockyard sustains turnaround with second consecutive profitable quarter

Colombo Dockyard PLC yestertday said that it continued its return to profitability during the second quarter of its 2026/27 financial year, recording its second consecutive profitable quarter and further strengthening the turnaround seen since the beginning of the current financial year.

For the three months ended 30 September 2026, profit attributable to shareholders reached Rs. 164.9 million, compared with a loss of Rs. 563.6 million during the corresponding quarter of the previous year. Earnings per share improved to Rs. 0.42 from a restated loss per share of Rs. 2.44.

The latest performance builds on the profit recorded during the first quarter ended 30 June 2026 and takes profit attributable to shareholders for the first six months of the financial year to Rs. 251.2 million. This compares with a loss of Rs. 1.37 billion during the corresponding six-month period last year.

The improvement reflects continued progress across several areas of the business, led by a strong performance from ship repairing, reduced losses from shipbuilding and a substantial reduction in finance costs following the Rights Issue and subsequent debt restructuring.

Group revenue for the quarter stood at Rs. 7.49 billion, marginally lower than the corresponding period last year. However, improved margins and better cost performance lifted gross profit by 53.4% to Rs. 1.56 billion, with the gross profit margin improving to 20.8% from 13.2%.

Ship repairing remained the strongest contributor to the Group’s performance. During the first six months, ship repair revenue increased by 32.4% to Rs. 8.85 billion, while gross profit from the segment increased to Rs. 3.28 billion from Rs. 1.87 billion in the corresponding period.

The shipbuilding business also showed encouraging progress despite lower revenue during the period. Shipbuilding revenue stood at Rs. 2.81 billion as recently contracted projects remain at early stages of execution. Importantly, the segment’s gross loss narrowed to Rs. 838.4 million from Rs. 1.31 billion a year earlier, following the completion of several legacy loss-making projects and the commencement of new projects secured more recently.

Net finance expenses for the September quarter declined by 40.7% to Rs. 294.5 million. The reduction reflects the impact of the Rights Issue and the restructuring of the company’s debt profile, which has helped ease the financing burden and establish a more sustainable capital structure.

Managing Director/CEO Thimira S. Godakumbura said: ‘The results for the second quarter are another important step in Colombo Dockyard’s recovery. We have now delivered two consecutive profitable quarters, supported by the strong performance of ship repair business, improved margins and a significant reduction in financing costs. The completion of legacy loss-making shipbuilding projects is also allowing us to move forward with a stronger portfolio of newly contracted work. These projects are still at an early stage of execution and therefore have not yet translated into significant shipbuilding revenue, but we believe they provide a stronger foundation for the periods ahead.’

The Group’s balance sheet also reflects the impact of the financial restructuring undertaken over the past year. Current assets stood at approximately Rs. 33.09 billion against current liabilities of Rs. 23.58 billion as at 30 September 2026, placing the Group’s current ratio at approximately 1.4 times.

Cash and cash equivalents increased to Rs. 17.27 billion. A substantial portion of this balance, approximately Rs. 15.46 billion, comprises interest-earning deposits held under lien as security for bank guarantees and other credit facilities supporting the company’s projects.

Debt restructuring has also changed the maturity profile of the Group’s borrowings, with a greater proportion moved from short-term to longer-term facilities. This has helped strengthen the Group’s liquidity position and provide greater financial flexibility for ongoing operations and new projects.

Administrative expenses increased during the period, reflecting the broader inflationary environment and its impact on operating costs. However, improved operational margins and lower financing expenses enabled the Group to maintain its positive earnings trajectory.

With two consecutive profitable quarters now recorded, Colombo Dockyard remains focused on maintaining the momentum of its ship repair operations, improving the performance of shipbuilding projects and strengthening financial discipline as it works towards sustained long-term profitability.

’All die na die’, Dino Melaye declares ahead of 2027

Former Kogi West Senator Dino Melaye has warned the All Progressives Congress (APC) against intimidating opposition parties ahead of the 2027 general elections, declaring that the African Democratic Congress (ADC) is prepared to defend its votes.

Melaye made the statement on Monday during an interview on Arise Television’s Prime Time, following an ADC stakeholders’ meeting.

He accused the ruling party of using federal might, security agencies and state institutions to harass and intimidate opposition members, insisting that the ADC would resist any such moves ahead of the elections.

The former lawmaker said the party was prepared for the 2027 polls and would not tolerate attempts to rig or manipulate the process.

‘All Die Na Die, we will defend ourselves in 2027. The ADC will not allow the APC to continue intimidation. We are ready to defend every vote,’ he said.

Melaye also said Nigerians were dissatisfied with what he described as hunger, insecurity, and poor governance under President Bola Tinubu, adding that the ADC was ready to challenge the APC at the polls.

He called on the Independent National Electoral Commission (INEC) to remain neutral and ensure that the 2027 general elections were free, fair and credible.

NECTA Examination Results: Standard Seven pass rate rises to 85.22 percent

Dar es Salaam. Tanzania’s pass rate in the 2026 Primary School Leaving Examination (PSLE) has risen to 85.22 percent, with 970,876 candidates passing out of the 1,139,273 who sat the examination.

Announcing the results on Tuesday, November 3, 2026, National Examinations Council of Tanzania (NECTA) Executive Secretary, Prof Said Mohamed, said the candidates had obtained Grades A, B and C.

The latest results represent a 3.42 percentage-point increase in the overall pass rate from 81.80 percent recorded in 2025.

In terms of performance quality, 429,667 candidates, equivalent to 37.72 percent, secured Grades A and B, representing a 0.82 percentage-point improvement compared with the previous year.

The improvement points to continued progress in primary school examination performance, although questions remain about the factors driving the gains and the extent to which they translate into better learning outcomes.

Asian volley chief Suzara welcomes FIVB recognition of new PNVF leadership

ASIAN Volleyball Confederation (AVC) president Ramon Suzara expressed comfort over the International Volleyball Federation’s (FIVB) official recognition of the new leadership at the Philippine National Volleyball Federation (PNVF).

‘As president of the AVC, I now feel comfort that finally, the FIVB has recognized the new leadership of the PNVF,’ Suzara said on Tuesday. ‘The confederation always wants a healthy and harmonious operation of all its member national federations.’

‘Philippine volleyball can now move on and operate hitch-free of the FIVB recognition,’ added Suzara as the AVC congratulated PNVF president Frank Lao.

‘On behalf of the AVC, I extend my most heartfelt and enthusiastic congratulations to you on your recent election as President of the Philippine National Volleyball Federation,’ Suzara said. ‘This is a tremendous achievement and a true testament to the trust and confidence the volleyball community has in your leadership.’

‘We celebrate this momentous milestone with you. Your passion and dedication to the sport make you the ideal leader to guide the federation into a bright new era. We at the AVC are incredibly excited about the future of Philippine volleyball under your capable guidance.

‘The AVC looks forward to building a strong, dynamic, and collaborative partnership with you and your administration. We are absolutely confident that your visionary leadership will inspire the Philippine National Volleyball Federation to reach unprecedented heights, foster innovation, and achieve outstanding new victories for the sport.’

The FIVB officially informed Lao of its recognition on his election in a letter dated Tuesday, November 2.

‘Reference is made to the election process at the Philippine National Volleyball Federation in which Mr. Frank Lao was elected President,’ the FIVB said. ‘The FIVB Legal Department reviewed the documentation submitted by your National Federation in accordance with Article 1.6 of the FIVB General Regulations.’

The FIVB added: ‘The FIVB hereby informs you that the election process at the Philippine National Volleyball Federation satisfies the legal and administrative requirements in compliance with the FIVB Regulations.

Thus, the FIVB confirms that your elections are recognized by the FIVB and will update all of our records, including the FIVB website directory.’

Vivo Energy Ghana Sweeps Four Awards

Vivo Energy Ghana PLC, marketers and distributors of Shell-branded fuels and lubricants, has emerged the biggest winner at this year’s National PR and Communications Excellence Awards organised by the Institute of Public Relations (IPR), Ghana.

At the ceremony held in Koforidua on October 29, 2026, the company won four major awards in recognition of its excellence in strategic communications and campaign execution.

The awards were Best Promotional Event and Best PR Campaign of the Year for its She’llFix initiative, as well as PR Organisation of the Year in the Commercial and Energy and Utilities categories.

The Corporate Communications Manager of Vivo Energy Ghana, Shirley Tony Kum, said the four awards reaffirmed Vivo Energy Ghana’s commitment to strategic, purpose-driven communication that enhances corporate reputation, strengthens stakeholder relationships and delivers value beyond its core business.

A highlight of the ceremony was the double recognition for She’llFix, an initiative designed to equip female drivers with essential vehicle maintenance knowledge and practical car care skills.

Madam Tony Kum stated that through She’llFix, Vivo Energy Ghana empowers women with the knowledge and confidence to understand their vehicles better, identify basic maintenance needs and manage routine car care.

She said the initiative promotes greater independence among female motorists while encouraging vehicle care, safety and responsible motoring.

Beyond its immediate impact, She’llFix reflects the company’s core values of Safety, Excellence, Caring, Respect and Integrity, she added.

Ms. Shirley said the recognition as PR Organisation of the Year in both the Commercial and Energy and Utilities categories reinforced the company’s position as a leading player in Ghana’s downstream petroleum industry.

She said the honours highlighted the strategic contribution of communications to business performance, reputation management and stakeholder engagement in an increasingly dynamic and competitive environment.

‘The achievement aligns with the company’s vision of becoming Africa’s leading and most respected energy business, underpinned by a commitment to excellence, responsible business practices and lasting value creation for customers, partners, employees and communities,’ Ms. Shirley stated.

Vivo Energy Ghana said it would continue to invest in its retail network, customer experience, people and community initiatives to uphold high standards in the energy sector and remain a trusted partner in Ghana’s development.

Google offers Nigerians free AI, digital skills training

Google has launched a free digital learning platform that allows Nigerians to acquire Artificial Intelligence (AI) and other digital skills offline.

The initiative aims to train three million Africans by 2030, with 250,000 learners expected to graduate by the end of 2026.

The Communications and Public Relations Manager, West Africa, Mr Taiwo Kola-Ogunlade, disclosed this in a statement on Monday.

Managing Director, Google Africa, Mr Alex Okosi, said Africa needed more people equipped to develop, use and innovate with AI technologies.

He said the continent had a significant opportunity to shape the future of AI through improved access to relevant digital skills.

According to him, the initiative would broaden access to digital education and enable more Africans to participate in the digital economy.

‘The programme is aimed at equipping three million people with digital and AI skills by 2030, with an initial target of 250,000 graduates by the end of 2026,’ he said.

Okosi said the initiative built on Google’s previous efforts, through which more than seven million young Africans had completed foundational digital training.

He explained that the platform, Skilling Africa with Google, brought together more than 15 training programmes covering various digital disciplines.

These include artificial intelligence, cybersecurity, cloud computing, data analytics, digital marketing and small business development.

Okosi said the platform was designed to accommodate learners with limited internet connectivity and those facing high mobile data costs.

‘Users can download lessons through Wi-Fi and subsequently access the learning materials offline without incurring additional mobile data costs,’ he said.

He added that the platform was compatible with entry-level smartphones and laptops and did not require users to download a separate application.

The learning hub incorporates Google’s Hustle Academy, which provides training for small business owners.

It also features Google Career Certificates for individuals seeking careers in data analytics, IT support and cybersecurity.

Google Cloud Skills programmes are equally available to developers seeking to improve their technical expertise.

Okosi said the platform also featured SCOUT, an AI-powered study companion designed to support learners.

He explained that SCOUT could clarify unfamiliar concepts, answer questions and help users organise their study schedules.

Learners can also track their progress and earn verifiable badges after completing courses, which they can present to prospective employers or clients.

The platform currently supports English, Swahili and Arabic, while additional African languages, including Hausa, are being introduced.

Okosi said the initiative was free and open to students, job seekers, entrepreneurs and developers across Africa.

The News Agency of Nigeria (NAN) reports that interested learners can access the platform through skillingafrica.withgoogle.com.

Schools may reopen during LGU class suspensions under new Marcos order

Schools will be allowed to resume in-person classes even while a mayor’s or governor’s class suspension is still in force, under an executive order signed by President Ferdinand Marcos Jr. that updates rules on calling off classes during disasters.

Executive Order 130, signed on October 28 and originally proposed by the Department of Education (DepEd), lets a school reopen earlier than a city- or province-wide suspension if an assessment shows its campus is safe and accessible, and the local chief executive concurs.

The new order replaces Executive Order 66 of 2012, signed under former President Benigno Aquino III.

The order recognizes a need to “rationalize and harmonize” the different rules governing the suspension of in-person classes and on-site government work.

EO 130 covers all public and private schools and learning centers, including colleges and technical-vocational schools.

What is new

EO 130 spells out three kinds of suspensions:

Automatic suspensions, triggered without “need of further declaration,” upon the issuance of a warning, alert level or forecast by PAGASA, PHIVOLCS, and other relevant government agencies. These are based on “prescribed technical thresholds” to be detailed in later guidelines.

Localized suspensions, which can be decided by the local chief executive in the absence of an applicable automatic suspension, based on local risk assessments.

Granular suspensions, which are suspensions called by the school itself in the absence of the first two kinds. This is done “in coordination” with the local chief executive and upon the “determination” of an actual or imminent threat to the safety, health or welfare of students and personnel. DepEd gave public school heads similar authority in 2024.

The executive order stated that schools can also, in turn, decide to resume classes on their own during a local suspension with a documented site assessment and the concurrence of the mayor or governor.

This option applies only to localized suspensions declared by local officials, not to those triggered automatically by hazard warnings.

Local chief executives also must now name the areas a suspension covers, down to barangays and, where practicable, individual schools, and state how long it will last.

They are to consult barangay captains, the schools division superintendent and private school heads as needed.

Classes resume once a suspension lapses or a warning is lifted, downgraded or expires, but only after required safety inspections.

The order also states that suspending in-person classes “shall not automatically suspend learning.”

Schools must shift to alternative delivery where feasible, and staff to alternative work arrangements.

The order no longer spells out which grade levels are to suspend in-person instruction under each storm signal. Previously, EO 66 called off preschool under Signal No. 1, classes up to high school under Signal No. 2, and all levels and government work under Signal No. 3 or higher.

Those thresholds will instead be set in guidelines that DepEd must issue within 30 days of the order taking effect.

PP targets corruption, economic failures

The opposition has accused the government of monopolising political power, exploiting public funds and failing to address economic pressures and flooding ahead of a proposed censure debate.

Speaking in parliament on Monday, People’s Party (PP) leader and list MP Natthaphong Ruengpanyawut said a general debate without a vote under Section 152 of the constitution was one option available to the opposition.

However, the government should respect parliamentary procedures, including no-confidence debates under Section 151, committee hearings and question time, he said.

He criticised Prime Minister Anutin Charnvirakul for using visits to parliament mainly to greet MPs instead of taking his place in the chamber to answer questions.

“Even though we have made it clear that we are ready whenever the PM and the cabinet are, we still have yet to see them demonstrate a sense of responsibility towards parliament,” he said.

The PP regarded Section 152 as one of the available scrutiny mechanisms. Whether to seek such a debate would depend on the political situation, he said.

PP list MP and deputy leader Parit Wacharasindhu said the opposition was ready for a no-confidence debate under Section 151, with evidence, arguments and speaking time prepared.

Mr Parit said it would focus on the government’s monopolisation of power, exploitation of public funds and day-to-day handling of national issues.

These included alleged attempts to manipulate Senate elections and weaken checks and balances.

A second focus would be suspected budget irregularities and corruption, including fraud in local government recruitment examinations.

The debate would also cover economic hardship and crises such as energy costs and flooding, which the government had failed to anticipate and therefore dealt with only as they arose, he said.

Mr Parit declined to disclose individual MPs’ debate topics, saying early disclosure could allow evidence to be concealed or interfered with.

He said discussions had also been held with the opposition Klatham Party and an understanding reached that cabinet ministers must be scrutinised, as in a censure debate. Klatham may receive a smaller time quota because it was not a signatory to the censure motion.

ECB’s Vujcic: AI valuations pose financial stability risk

European Central Bank (ECB) Vice President Boris Vujcic said on Monday that elevated artificial intelligence (AI) valuations are one of the prominent risks in the financial stability assessment.

Speaking at the Central Bank of Ireland’s Financial System Conference, Vujcic also pointed out that the ECB currently does not see rising sovereign bond yields as “particularly dangerous,” but added that movements can be non-linear and should be monitored.

“The geopolitical environment is unlikely to become any easier. But how well we absorb the shocks we face depends very much on the choices we make … Integration makes us more resilient. Resilience allows us to remain open,” the vice president concluded.

Come Home – Medikal Appeals To Ghanaians Living Abroad

Rapper, Medikal, has called on Ghanaians living overseas to return to Ghana.

The rapper appealed in a post on X, formerly Twitter, encouraging those who have spent several years abroad to consider coming back to Ghana.

He cited the recent return of his brother, Tee Flow, as an example, urging other Ghanaians overseas to follow suit.

He wrote, ‘To all my brothers and sisters abroad, if ebi long for outside, come home like my brother Tee Flow just did. We are starting the #Brafie program now.’

It is unclear what prompted the rapper’s appeal or whether it is connected to any recent developments involving Ghanaians abroad.

However, the call comes amid public attention surrounding the shooting of Ghanaian child Javits Frimpong in the United States, an incident that has raised concerns about the safety of Ghanaians living overseas.

Medikal has yet to provide further details about the #Brafie programme or outline how it intends to encourage Ghanaians in the diaspora to return home.