Author: user user

Flyhi Junior Rugby carnival kicks off 12 Sep. over 900 youngsters at Havelock Park

The Flyhi Sports Junior Rugby Carnival 2026 is set to bring together more than 900 young rugby players from across Sri Lanka for a day of exciting sevens action at Havelock Park on Saturday, September 12, with matches scheduled to kick off at 8 am.

Organised by the Flyhi Sports Rugby Academy, the tournament is designed to strengthen the grassroots development of rugby in Sri Lanka by providing young players with an opportunity to compete in a professionally organised seven-a-side competition.

The carnival will be contested in five age categories: Under-10, Under-12, Under-14 and Under-16 Boys, together with an Under-18 Girls division. Players will compete according to the age eligibility criteria specified by the tournament organisers.

With junior rugby enjoying rapid growth across the island, the event is expected to attract leading school and club academies, offering young talent an ideal platform to display their skills, speed, teamwork and sportsmanship in the shorter and faster version of the game.

Apart from the on-field competition, the carnival will also provide a family-friendly atmosphere with entertainment and activities throughout the day, celebrating the spirit of junior rugby.

Bond yields move up on selected durations; activity remains muted

The secondary Bond market yesterday saw yields extend the upward momentum for a second straight session. The upward pressure was most pronounced across selected tenors, particularly within the 2032-2033 segment, where yields moved higher. Trading activity and transaction volumes remained at moderate levels.

The 15.03.28 and 15.12.28 maturities traded higher at the rates of 10.05% and 10.20% respectively. The 2030 tenors bucked the trend and held steady with the 15.05.30, 01.08.30 and 15.10.30 trading at the rates of 10.65%, 10.75% and 10.80%-10.85% respectively. The 01.02.31 traded at 10.85% and the 01.12.31 traded within the range of 11.05%-11.10%. The 01.10.32 and 15.12.32 traded at the rates of 11.20% and 11.25% respectively. The 01.06.33 and 01.11.33 traded higher at the rates of 11.60% and 11.65%-11.75% respectively. The 15.10.34 traded at the rate of 11.80%.

The Treasury Bill auction scheduled for today, will have a total of Rs. 80 billion on offer, which is well below the estimated maturing amount of Rs. 103.77 billion. This will comprise of Rs. 35 billion on the 91-day maturity, Rs. 25 billion on the 182-day maturity and Rs. 20 billion on the 364-day maturity.

To recap, at last Wednesday’s weekly Treasury Bill auction, weighted average yields extended their decline for an eighth consecutive week, as robust demand continued to drive yields lower across all three tenors.

The sharpest decline was recorded on the 182-day Bill, which fell 17 basis points to 9.27%, while the 91-day yield declined by 10 basis points to 8.96%. Meanwhile, the 364-day yield eased by 8 basis points to 9.81%.

The Public Debt Management Office (PDMO) successfully raised the full Rs. 80 billion offered, with each tenor meeting its respective targeted allocation. Demand remained strong, with total bids received amounting to 2.54 times the offer.

Demand extended into the second phase with the entire Rs. 8 billion being the maximum offered raised against a total market subscription of Rs. 23.83 billion. Accordingly, the aggregate accepted amount stood at Rs. 88 billion.

Meanwhile, the details of the next upcoming Treasury Bond auctions due to be held on Friday, 11 September were announced. The round of auctions will have a total offered amount of Rs. 150 billion across three available maturities.

The auction will be comprised of: Rs. 70 billion from a 1 August 2030 Maturity bearing a coupon rate of 10%; Rs. 50 billion from a 15 October 2034 Maturity bearing a coupon rate of 11.70%; Rs. 30 billion from a 1 July 2037 maturity bearing a coupon rate of 10.75%. The settlement for which will be held on 15 September 2026.

In the money market, the net liquidity surplus stood at Rs. 119.80 billion yesterday. Of this, Rs. 65.17 billion was deposited with the Central Bank through the Standing Deposit Facility (SDF) at 8.25%, while Rs. 0.36 billion was withdrawn through the Standing Lending Facility (SLF) at 9.25%.

Meanwhile, the Domestic Operations Department (DOD) of the Central Bank absorbed further liquidity through a series of repo auctions, mopping up Rs. 40 billion overnight at a weighted average rate of 8.74% and Rs. 15 billion through a 7-day term repo at 8.75%.

The weighted average rates on overnight call money and repos were 8.87% and 8.95% respectively.

Forex market

The USD/LKR rate on spot contracts was seen closing depreciating marginally to close the day at Rs. 328.70/329.00, as against its previous day’s close of Rs. 328.25/328.35. The total USD/LKR traded volume on 7 September was $ 118.25 million.

CARIBBEAN-YOUTH-CARICOM establishes youth committee aimed at reducing crime and violence

The Caribbean Community (CARICOM) has established the CARICOM Youth Advisory Committee on the Prevention of Crime and Violence (YAC-PCV) aimed at placing young people at the centre of regional efforts to reduce crime and violence.

Membership of the Committee comprises eight youth members aged 18 to 29 years, drawn from a selection of CARICOM member states and Associate Members, gender balance, and the inclusion of marginalised groups.

The Guyana-based CARICOM Secretariat said that the Committee’s purpose is to provide a structured mechanism for youth-led input, guidance, and co-creation in the design, implementation, and refinement of CARICOM’s crime prevention initiatives.

It said that through this platform, young voices will directly shape interactive webinars, practical toolkits, and policy-relevant outputs under the Crime and Security and Youth Development programmes of the CARICOM Secretariat.

‘With the establishment of the YAC-PCV, CARICOM is reaffirming its commitment to youth leadership, ensuring that young people are not only beneficiaries of crime prevention strategies but active partners in shaping a safer, more inclusive CARICOM.’

Programme Manager for Youth Development at the CARICOM Secretariat, Michele Small-Bartley, said that the YAC-PCV is tasked with ensuring that regional strategies reflect the realities and perspectives of CARICOM youth.

She said it will also serve as a bridge between youth perspectives, policy practitioners, and regional institutions in justice, security, and social development.

‘By mainstreaming youth into CARICOM’s crime and security governance, the Committee will strengthen inclusivity and accessibility, ensuring participation from young people in remote areas, those with disabilities, and individuals from diverse linguistic and socio-cultural backgrounds,’ said Small-Bartley.

She said the Committee will also play a vital role in promoting youth understanding of alternatives to incarceration, restorative justice, diversion mechanisms, cyber safety, and public health approaches to prevention. Its contributions will extend to regional dialogues, technical workshops, and symposia.

‘Research has shown that youth across the Caribbean are disproportionately affected by crime and violence, whether as victims, persons at risk, or in contact with the justice system,’ stated Small-Bartley.

‘Structural challenges such as unemployment, social exclusion, weak access to justice, prolonged pretrial detention, limited use of non-custodial sentencing, and emerging threats like cybercrime heighten their vulnerability.’

The CARICOM Secretariat said that to address these challenges, the 15-member regional grouping commissioned a Tripartite Study on pretrial detention, non-custodial sentencing, and alternative justice mechanisms.

It said that this initiative was executed through close collaboration between the Secretariat and the United Nations Development Programme (UNDP), resulting in the development of two evaluation tools: the CARICOM-UNDP Diagnostic Document and the CARICOM-UN Action Framework.

Programme Manager for Crime and Security at the CARICOM Secretariat, Sherwin Toyne-Stephenson said CARICOM is developing tools grounded in a public health, prevention oriented, and integrated justice approach.

‘The YAC-PCV is central to ensuring these efforts remain relevant, accessible, and sustained.’

President Ilham Aliyev congratulates President of Tajikistan

President of the Republic of Azerbaijan Ilham Aliyev has sent a congratulatory letter to Emomali Rahmon, President of the Republic of Tajikistan, on the occasion of the 35th anniversary of the state independence of Tajikistan.

According to AzerNEWS, the letter reads:

“Dear Emomali Sharifovich,

On the occasion of the 35th anniversary of the state independence of the Republic of Tajikistan, I extend my most sincere congratulations and best wishes to you and, through you, to the entire Tajik people, both on my own behalf and on behalf of the people of Azerbaijan.

Over the past thirty-five years, thanks to your visionary and resolute leadership, Tajikistan has made remarkable progress in state-building, internal stability, and socio-economic development, while steadily raising its authority and standing on the global stage. The history of Tajikistan’s independence and all of its achievements are inextricably linked to your name.

It is gratifying that the bond of friendship and brotherhood between Azerbaijan and Tajikistan, rooted in shared religious, cultural, and historical ties, continues to strengthen and be enriched with new substance day by day. Active high-level dialogue, regular contacts, and close cooperation undoubtedly help to further accelerate and deepen these ties.

I am confident that the strategic partnership between Azerbaijan and Tajikistan, built on mutual trust and support, will continue its upward trajectory and grow stronger through our joint efforts.

Dear Emomali Sharifovich, on this festive day, I wish you robust health, happiness, and success in your responsible duties, and the brotherly people of Tajikistan constant peace, well-being, and prosperity.”

Police investigate attempted murder of Mbarara businesswoman

Police in Mbarara are investigating the attempted murder of Rossette Nuwagaba, 53, a businesswoman from Rwemirinzi Cell, Nyamitanga Division, Mbarara City South.

She was allegedly attacked by her husband, Alex Nuwagaba over a domestic misunderstanding.

According to Rwizi Region spokesperson SP Samson Kasasira, on September 8, 2026, the victim returned from her village and found her husband in their rented house with another woman.

This reportedly angered her and attempted to chase the husband away.

“In the process of evicting the man, she realised her television was missing, which forced her to grab the husband’s bag, and due to annoyance, the husband picked a panga and cut her on the head plus the hand,” Kasasira said in a statement.

The victim was rushed to Mbarara Regional Referral Hospital for treatment.

The suspect is in custody pending a mental status examination.

Police investigations into the matter are ongoing.

Azerbaijan reaffirms unwavering support for Trkiye ahead of COP31

Azerbaijan has once again expressed its unwavering support for brotherly Trkiye as it prepares to host the next COP, Azerbaijani Foreign Minister Jeyhun Bayramov said.

The minister made the remarks at the high-level opening ceremony of the Fourth Climate Week (CW4) of the UN Framework Convention on Climate Change, held in Baku under Azerbaijan’s hosting and organized by the Ministry of Foreign Affairs.

“Cooperation between the COP29 and COP31 presidencies is a clear example of regional solidarity. This cooperation contributes to ensuring continuity on the climate agenda, developing ambitious climate finance mechanisms, and maintaining consistent global climate action,” Bayramov emphasized.

It should be noted that COP29, the 29th UN Climate Change Conference, took place from November 11-22, 2024 , in Baku. The conference brought together world leaders, government officials, climate experts and representatives of international organizations to discuss ways to accelerate climate action and increase financial support for developing countries.

The 31st session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP31) will be held from 9 to 20 November 2026 at the Antalya COP31 Area in Antalya, Trkiye.

Why products fail (Part IX)

There is a particular kind of product failure that I find the most frustrating to witness, because it’s the most wasteful. This failure isn’t because the consumer rejected the product or because the price was wrong, and not because the formulation missed the mark but simply because the consumer, at the moment they were ready to buy, couldn’t find the product. The product existed. The demand existed. However, the product wasn’t available at the point the customer wanted to buy it. The gap between the demand and the availability was a distribution failure. That gap, in a competitive market, is filled immediately and permanently by a competitor.

Distribution is the least glamorous element of the marketing mix. It does not generate the creative excitement of a brand campaign. It does not command the boardroom attention of a pricing strategy review. It is, in the minds of some marketing leaders, an operational matter to be delegated to the sales and logistics teams while the marketing function focuses on building desire for the product. That thinking is one of the most commercially expensive misconceptions in consumer goods management. Distribution is marketing. It is, in many markets and many categories, the single most decisive variable in determining whether a product succeeds or fails.

A product that the consumer desires but cannot find will, over time, lose that desire to a product that is reliably present. Organisations that understand the importance of distribution build their distribution networks with the same strategic intensity they bring to product development and brand communication. A product can have geographic coverage failure. That means the product is available in some markets but absent in others. This creates a patchwork presence that limits the consumer base and gives competitors uncontested space in the uncovered geographies. Another distribution failure is channel failure. That means the product is present in the wrong channels for its target consumer. It is available in premium supermarkets when its target consumers are in the open markets.

The third distribution failure is out-of-stock. That means the product is listed in the right channels but consistently unavailable because the replenishment system cannot keep pace with demand or because the trade has deprioritised it in favour of faster-moving alternatives. The fourth, and most structurally damaging, is trade relationship failure. This means the organisation has not invested in the relationships and incentives that motivate the distributor, the wholesaler, and the retailer to stock, display, and actively sell the product rather than merely warehouse it. Each of these failures has the same commercial outcome: the consumer arrives at the point of purchase ready to buy and leaves with a competitor’s product in their hand.

Over time, when lovers of a particular brand keep seeing a competitor’s product, their loyalty is transferred to another product, and it is definitely the competitor’s product. There are three brands in Nigeria that have demonstrated a strong distribution network. These are Coca-Cola, Tolaram (Indomie) and MTN. Their distribution strategy will be analysed, but this will not be concluded in this episode. When Tolaram introduced Indomie to Nigeria in 1988, the product entered a market that had no established instant noodles category, no existing consumer behaviour around the product, and no distribution infrastructure specifically configured for the kind of mass-market penetration that the product’s commercial ambition required.

What Tolaram brought to that challenge wasn’t primarily a marketing budget. It was a distribution philosophy: the product must be available to every Nigerian consumer, at every price point, through every channel, at every point in the supply chain. Tolaram built a distribution network that went far beyond the conventional supermarket and formal retail channels that most imported consumer goods organisations defaulted to. They invested in a distributor network that reached into open markets, neighbourhood provisions stores, the mama put, the corner shop, the table-top trader and channels that many consumer goods organisations considered too fragmented, too informal and too difficult to service reliably.

They built the infrastructure to service those channels: the logistics capability, the van sales operations, the distributor support systems, and the trade terms that made stocking Indomie commercially attractive even for the smallest retailer. Indomie reached a level of market penetration in Nigeria that made it, effectively, impossible for a competitor to displace it through product quality or marketing investment alone, because the distribution moat was too deep to cross quickly. By the time a well-resourced competitor arrived with a comparable product, Indomie was already on every shelf, in every market, in every town, at a price point the mass consumer could access.

The competitor was not competing with a product. They were competing with a distribution infrastructure that had taken decades to build.

Oluwole Dada is the General Manager at SecureID Limited, Africa’s largest smart card manufacturing plant in Lagos, Nigeria.

vivo gives consumers more affordable way to own its phones

For consumers who want to experience a vivo smartphone without necessarily buying a brand-new unit, there is another option worth considering: vivo refurbished phones.

Unlike ordinary second-hand phones, refurbished vivo units are brand-managed devices that undergo inspection, cleaning, and necessary repairs by vivo customer service professionals before being made available for resale. This gives consumers a more accessible way to own a vivo smartphone, while offering the added assurance of professional quality checks and warranty support. Refurbished vivo phones may come from units previously used by KOLs or ambassadors, as well as store display and demo units. Once these devices are returned, they are handled by vivo customer service professionals and undergo the necessary inspection, cleaning, and repair processes before being relisted for sale.

This is what sets refurbished vivo phones apart from ordinary second-hand devices. Rather than being resold as-is, refurbished units are professionally checked and prepared before being made available to another consumer.

For Filipino consumers, this means having another option when looking for a vivo smartphone that fits their budget. Refurbished units can make selected vivo devices more accessible, while the professional refurbishment process and warranty support provide added confidence compared with buying a phone solely based on its previous ownership.

Professional refurbishment with warranty support

For consumers, knowing that a device has gone through a professional refurbishment process can provide added peace of mind when considering a refurbished phone.

Refurbished vivo phones come with a standard one-year warranty, with the warranty start date determined according to the unit’s classification and available proof of purchase.

There are two types of refurbished vivo phones:

Pre-owned (LDU) – These are older demo or ex-display units that have been refurbished for resale. The product code carries a two-digit suffix, while the device and packaging carry a ‘Pre-owned’ label.

Near New – These are units returned within 15 days and subsequently refurbished for resale. The product code carries a one-digit suffix, while the device and packaging carry a ‘Near New’ label.

For purchases with proof of purchase, the warranty starts on the purchase date indicated on the receipt.

For pre-owned units without proof of purchase, the warranty start date is based on the device’s IMEI binding, activation, or sold date.

For Near New units without proof of purchase, the 90th day after the production date applies as the warranty start date, in accordance with vivo’s warranty policy.

With clear classifications and warranty guidelines, consumers can better understand the refurbished unit they are purchasing and have the added reassurance of vivo’s after-sales support.

How to buy a refurbished vivo phone

For Filipinos looking for a more accessible way to experience vivo, purchasing a refurbished unit is also straightforward.

Consumers can visit the official vivo website, go to the e-store, select products, and choose refurbished phones. Refurbished units can also be purchased through a vivo Store by selecting shop and then refurbished phones.

For Filipino consumers weighing their options when purchasing a smartphone, vivo refurbished phones offer a practical alternative to buying brand-new or ordinary second-hand devices. With professionally refurbished units, clear classifications, and warranty support, consumers can enjoy a more accessible way to own selected vivo smartphones while having the added confidence of vivo’s after-sales service.

FDI rose 10% in 2025, energy costs and bureaucracy remain challenges President says

The value of substantive foreign direct investment (FDI) in Cyprus increased by around 10% in 2025 compared with the previous year, President of the Republic, Nikos Christodoulides said on Wednesday. At the same time he outlined the government’s ambition to establish Cyprus as a European and regional hub for investment, technology, energy, transport and trade.

Addressing the EY Cyprus Future Realized Forum in Nicosia, Christodoulides said the increase in investment activity was reinforcing confidence in Cyprus’s long-term prospects, while noting growing interest from international companies in a range of higher-value sectors.

‘In recent years, we have witnessed growing interest from international companies across a range of sectors, including information and communication technologies, fintech, innovation, business services and other knowledge-intensive activities,’ he said.

The President noted that the growing footprint of the ICT sector was indicative of a transformation of Cyprus’ economic model towards sectors that generate higher value-added and stronger productivity growth.

At the same time, however, he acknowledged that Cyprus still faced challenges in strengthening its competitiveness and attracting further investment.

‘The cost of energy, the pace of administrative processes, the availability of specialised skills, connectivity and the need to accelerate the delivery of key infrastructure projects are areas where further progress is required,’ he said.

He added that the government had pursued an ambitious programme of reforms over the past three and a half years aimed at improving the business environment and supporting sustainable long-term growth, including tax reform, the digital transformation of the public sector and the streamlining of procedures for strategic investments.

President Christodoulides said the Business Support Centre had been established as a single point of contact for local and international companies and investors, helping them navigate procedures more efficiently and facilitating the establishment and expansion of their activities in Cyprus.

He also pointed to a series of infrastructure, energy and connectivity projects which, he said, were essential to the country’s future competitiveness and resilience. These include the expansion of Cyprus’ airports, the upgrade of Vasilikos port, electricity interconnections and an LNG import terminal.

‘These projects will also strengthen the country’s role as a regional hub for transport, trade, logistics and energy,’ he said.

The President added that the government’s broader objective was to turn Cyprus’ geographical position into economic value by connecting European and regional markets with investment, talent, technology and ideas.

‘Because our country aims to transform geography into economic value: to become a European and Regional hub with global reach, connecting markets, investment, talent, technology and ideas,’ he said.

Christodoulides also highlighted efforts to improve access to finance for businesses through the Cyprus Enterprise Development Organisation, with dedicated financial instruments focusing on innovative start-ups. He added that the privatisation of the Cyprus Stock Exchange was in progress and was expected to boost the island’s capital market.

On innovation, he pointed to partnerships with NVIDIA, Columbia University and Plug and Play, saying these were helping to expand opportunities in research, innovation and emerging technologies.

The President said initiatives such as Minds in Cyprus were also aimed at attracting talent and strengthening the country’s human capital base, while cooperation between universities and industry would help meet the needs of a rapidly changing economy.

‘Removing the barriers that hold back investment, productivity and innovation, making the state faster and more effective, creating the conditions in which businesses can invest with greater confidence and greater speed,’ he said referring to the goals of the government.

The President also said Cyprus’ economy had grown by around 10% over the past three years, at a pace approximately four times higher than the European average, while unemployment had fallen to 3.6% and employment had reached historical levels.

He said Cyprus had secured successive A-category sovereign credit ratings, maintained sound public finances and strengthened the resilience of its banking sector.

The President also linked Cyprus’ economic ambitions to its role in the European Union and the wider region, saying the country’s Presidency of the Council of the EU had provided an opportunity to demonstrate its ability to ‘build bridges’ between European interests, Europe and its wider region, and political priorities and economic opportunity.

‘Our ambition as the government is clear,’ Christodoulides said. ‘To build on the stability we have secured and turn it into perspective. To bridge markets, regions, people and ideas. To accelerate the reforms, infrastructure and innovation that determine competitiveness.’

He said the ultimate goal was an economy that was much more productive, more innovative, more outward-looking and capable of creating greater opportunities for future generations.

‘Today, we can proudly say that Cyprus offers something increasingly valuable in an uncertain world: Stability with Perspective,’ he said.

President Christodoulides acknowledged that the government could not build this future alone, stressing the importance of partnerships with businesses, investors and the wider population to accelerate economic change and create the conditions for sustainable growth.

Bauchi: Bala fumes over N29.6b ACReSAL project’s delay, warns contractor

Governor Bala Mohammed Abdulkadir of Bauchi State has expressed deep dissatisfaction with the slow pace of the N29.6 billion Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) flood and erosion control project, which currently stands at just 7.2% completion.

The governor expressed his dissatisfaction during his inspection visit to the project site at the Abubakar Tatari Ali Polytechnic and urged the contractor to urgently deploy additional equipment and manpower to accelerate work and meet the stipulated deadline.

He emphasised that because the project is fully funded, there is no justification for unnecessary delays.’The state has demonstrated its commitment by releasing 40 per cent of the contract sum.’

The governor said that ‘We expect the contractor to show a matching readiness and capability to execute this vital work.’

Governor Bala Mohammed highlighted the deep historical and humanitarian significance of the project, noting that it was originally conceived during the administration of former Governor of the state, Ahmed Adamu Mu’azu.

While described the current phase as a massive humanitarian effort designed to safeguard vulnerable communities living along riverbeds and flood-prone areas.

Also speaking during the inspection, Joy Agene, who is the ACReSAL Task Team Lead, commended the quality of the engineering work executed so far, while echoing the Governor’s concerns regarding the sluggish timeline.

Agene said that the project is one of ACReSAL’s largest interventions nationwide in terms of scope, scale and financial cost, making swift execution critical.

The project contractor blamed the slow progress primarily on the challenges of the ongoing rainy season.

He assured the Governor that a massive remobilisation strategy is already underway to salvage the timeline,

He also promised that four separate teams will be deployed simultaneously across different sections of the micro-catchment area, armed with extra equipment and increased manpower.

The contractor expressed absolute confidence that the entire project will be completed between March and April, 2027.