Category: Daily Financial Times

Dialog Axiata PLC has announced its partnership with Starlink to bring high-speed satellite internet solutions to empower businesses, institutions, and underserved communities across the island.

As an authorised agent for Starlink in Sri Lanka, Dialog will enable access to the world’s most advanced satellite technology, delivering high-speed, low-latency internet to areas beyond the reach of conventional network infrastructure and further strengthening the country’s digital connectivity landscape.

Dialog Axiata PLC Director/Group Chief Executive Supun Weerasinghe said: ‘This collaboration marks a pivotal step in our mission to expand coverage and access to reliable, high-speed connectivity in underserved regions. By working with Starlink, we are accelerating our efforts to bridge the digital divide and empower businesses, institutions and communities across Sri Lanka.’

Starlink’s satellite technology complements Dialog’s extensive network footprint by enabling seamless, high-performance connectivity in previously underserved regions benefitting from reliable internet access that enhances productivity, innovation, and growth. This partnership underscores Dialog’s continued commitment to technological innovation and delivering on its promise of The Future. Today.

Enterprise customers can soon access Starlink services through Dialog’s corporate solutions channels. Dedicated support, including installation, servicing, and maintenance, will be provided to ensure a seamless experience.

Police Sports Club registered their first win when they outclassed Sri Lions Sports Club 43/7 to earn a bonus point as well at Longdon Place last weekend.

At the short breather, it was Police who led 24/0.

National Savings Bank (NSB), in collaboration with Mastercard, has launched Tap and Go functionality on NSBPay, becoming the first mobile banking app in Sri Lanka enabled for contactless in-store payments.

The breakthrough innovation allows customers to make fast, convenient, and secure Tap and Go payments directly from their smartphones for offline purchases, setting a new benchmark for digital banking and enhancing the country’s cashless payment ecosystem.

NSBPay furthers Sri Lanka’s digital transformation journey as it combines convenience, security, and financial inclusion for millions of consumers. NSBPay enables customers to make contactless payments at thousands of merchant locations nationwide and millions of locations globally using just their mobile phones.

Powered by Mastercard Digital Enablement Services (MDES), NSBPay uses advanced tokenisation technology to protect customers’ payment credentials. The technology replaces sensitive card information with secure digital tokens on users’ smartphones, ensuring that actual account details are never exposed during transactions. The result is a fast payment experience that is convenient but also maintains the highest standards of security.

NSBPay’s contactless payment capability allows customers to simply tap their smartphones at any contactless-enabled payment terminal to complete transactions instantly. The seamless payment method eliminates the need to carry physical cards or cash, while supporting Sri Lanka’s national drive toward a modern, digital economy.

NSB CEO/General Manager Shashi Kandambi said: ‘NSB has always been at the forefront of digital innovation. With NSBPay, we are proud to collaborate with Mastercard and deliver Sri Lanka’s first contactless-enabled mobile app, empowering customers with greater convenience, security, and choice in how they pay. This association perfectly aligns with NSB’s values as a customer-centric institution committed to meeting the evolving needs of individuals and businesses in a digital world.’

Mastercard Sri Lanka and Maldives Country Manager Sandun Hapugoda said: ‘This launch reinforces Mastercard’s role as the technology partner behind Sri Lanka’s first mobile banking app with Tap and Go functionality, underscoring our commitment to secure, seamless, and inclusive digital payments. We are proud to collaborate with NSB to bring Tap and Go capabilities to the banking sector, a milestone that reflects our shared vision of driving financial inclusion and enabling frictionless transactions. As a global leader in digital payments, Mastercard remains focused on delivering convenient solutions that enhance user experience, strengthen the economy, and accelerate the shift to a cashless society.’

Tap and Go functionality will be available to NSBPay App users, who are customers of National Savings Bank, from January 2026. As the country’s leading savings bank, with a legacy spanning nearly two centuries, NSB remains committed to leveraging modern technologies including tokenisation and next-generation payment solutions to strengthen consumer trust and accelerate digital adoption, the bank said in a statement.

Cargills Bank is celebrating the season by offering its Credit Cardholders a spectacular blend of convenience and value, powered by its advanced card suite which now includes the revolutionary ‘Tapit Sticker Card.’

This December, Cargills Bank is spreading the festive spirit by collaborating with over 100 merchants to provide exclusive discounts and privileges. Cardholders can enjoy extraordinary savings across essential festive categories including clothing, dining, jewellery, homecare, and e-commerce, ensuring a merrier and more affordable holiday.

Leading the charge in digital convenience is the newly launched Cargills Bank ‘Tapit’ Sticker Card. Sri Lanka’s first contactless payment sticker allows users to simply affix the small, secure sticker to their phone and complete transactions with a quick tap at any contactless terminal. ‘Tapit’ ensures your payments are not only fast and wallet-less but also instantly ready to access all the special Christmas offers.

Cargills Bank’s seasonal offers are complemented by robust, 365-day everyday savings, catering to daily needs. Cardholders benefit from year-round discounted shopping at Cargills Food City and continuous offers at popular dining spots like KFC and TGIF, providing consistent value well beyond the holiday rush.

Cargills Bank Head of Cards Services Kaushi Fernando said, ‘Our diverse range of offers, now made supremely accessible via the ‘Tapit’ platform, is our way of delighting and rewarding cardholders. We ensure that our customers enjoy financial flexibility and significant savings during the busiest time of the year and every day after.’

The bank’s diverse suite includes the Gold, Titanium, Platinum, and the exclusive ASCEND Credit Cards, all designed with zero joining fees. The ASCEND Card goes further by offering a special annual fee-free benefit. To provide unmatched value, all cards come with perks like free travel insurance, personalised options, and flexible balance transfer/instalment plans. Discover the joy of seamless transactions, exclusive offers, and credit cards that put control in your hands.

Fitch Ratings has maintained its deteriorating outlook for the global shipping sector, reflecting geopolitical and policy risks, according to an Outlook report released recently.

‘The sector will also be affected by the lower GDP growth we expect across most major economies in 2026 compared to 2025, with downside risk from any correction in financial markets,’ Fitch said. A key event risk across shipping segments is a resumption of Red Sea transits leading to a reduction in tonne-mile demand, although there is limited visibility on this possible development.

Fitch said tariff disputes have moderated expectations for volume growth, particularly for container shipping, in 2025 and 2026. The medium-term impact from protectionist measures remains difficult to quantify but should be negative overall. An increase in trade protectionism could also alter trade flows and limit demand for some high-margin or critical products over the medium term, although some new trade lanes could strengthen to offset those more affected by tariffs.

‘We expect container shipping performance to weaken in 2026 as lower freight rates resulting from weakened supply-demand balance will lead to lower profits in 2026. Tanker shipping should continue to perform well, particularly for crude tankers, due to growth in end demand and tonne-miles. The bulk tanker segment is likely to have weak but stable fundamentals year on year. We expect performance across other segments, such as liquefied natural gas (LNG) shipping and car carriers, to remain broadly stable,’ Fitch said.Shipping order books have increased moderately across the various segments, but vessel scrappage remains low, resulting in a moderate capacity increase. Fitch also said the International Maritime Organisation’s Net Zero framework, yet to be approved, is likely to increase pressure on shipping companies’ cost structures over the medium term, and the extent of pass-through of increased costs has yet to be seen.

Returning to action for the first time since becoming ODI World champions, India commenced their road to the T20 World Cup 2026 in June with an eight-wicket win over Sri Lanka in the first WT20I played at Visakhapatnam yesterday.

In a cold evening, India, winning the toss, invited Sri Lanka to bat first and kept them down to a moderate total of 121-6.

Sri Lanka’s top four batters all reached double figures but none went on to make a substantial score, with opener Vishmi Gunaratne’s 39 off 43 being the highest.

Poor running between the wickets cost Sri Lanka three wickets, including that of Gunaratne.

India lost Smriti Mandhana for 25 and Shafali Verma for 9, but were well in control of their chase.

Player of the Match Jemimah Rodrigues (69* off 44 balls, 10 fours) and skipper Harmanpreet Kaur (15*) took India home in an unbroken stand of 55 with 32 balls to spare.

India lead the five-match series 1-0. The second match will be played at the same venue tomorrow.

Scores:

Sri Lanka Women 121-6 (20) (Vishmi Gunaratne 39, Hasini Perera 20, Harshitha Samarawickrama 21)

India Women 122-2 (14.4) (Smriti Mandhana 25, Jemimah Rodrigues 69*)

Union Bank reopened its Gampola branch on 17 December following the impacts of Cyclone Ditwah-related floods that severely affected businesses and residents in the area. Demonstrating its commitment to customers and the community, Union Bank acted swiftly to carry out restoration work, enabling the branch to resume full banking operations within a short period. The branch reopened with an improved and refreshed outlook, ensuring enhanced services to customers. Union Bank Director/CEO Dilshan Rodrigo joined the Gampola branch team in welcoming customers back to the branch.

CR and FC produced a ruthless response to last weekend’s setback, running riot against Navy Sports Club to record a commanding 10-try 64/15 victory in their Inter-Club Rugby League encounter at Welisara on Saturday.

Stung by their narrow 32/34 defeat to traditional rivals CH and FC, the Red Shirts delivered a powerful statement to the rest of the title contenders with a dominant all-round performance.

The visitors began cautiously, clearly determined not to repeat recent mistakes. After fly-half Zubair Doray opened the scoring in the 10th minute, Navy briefly threatened through a penalty by Isuru Kongahawatte. However, once CR found their rhythm, they took full control through their hooker Venura Kodagoda, crossed for the first of his two tries, converted by Thenuka Nanayakkara, to swing momentum firmly in CR’s favour.

From there, CR’s forwards asserted their authority. Tries from lock Senal Adikaram and prop Senura Perera extended the lead, while Kodagoda’s second try just before the short breather sealed an imposing 31/3 advantage at the break. Navy were forced into survival mode as CR dictated territory, possession, and tempo.

The second half followed a similar pattern, with the Reds relentless in attack. Nirosh Perera, Charith Silva, Naveen Marasinghe, and Adikaram added to the tally as the Red Shirts dismantled Navy’s defence with structured forward play and sharp execution. Nanayakkara’s accurate boot further

widened the gap.

Although Navy capitalised briefly through a penalty try and a late effort, CR quickly regrouped. Replacement scrum-half Hashan Maduranga rounded off the scoring with CR’s 10th try, converted by Shane Hopwood, sealing a convincing comeback win that restored confidence and reaffirmed the Reds’ championship credentials.

Allianz SE has announced that it is donating pound 200,000 to support disaster relief efforts in Sri Lanka. In addition, Allianz SE is also extending its support to Thailand and Indonesia, contributing a further pound 400,000 to aid disaster relief across Southeast Asia.

Torrential rainfalls have triggered severe flooding and landslides across Southeast Asia, leaving more than 1,100 people dead in a week of devastation and complicating rescue efforts for hundreds still missing. Allianz is deeply rooted with local entities in the three countries and serving millions of customers across Asia. By supporting the affected people and communities, Allianz acts on its promise to secure the future of its stakeholders in times of need.

Allianz SE will allocate pound 100,000 to the Sri Lanka Red Cross Society (SLRCS) to deliver immediate assistance to those most affected and pound 100,000 will also be provided for post-disaster support, implemented in collaboration with Allianz Insurance Lanka Ltd., and selected local partners, focusing on disaster prevention and climate resilience, helping communities rebuild and strengthen their preparedness against future events.

Allianz Board of Management Member Renate Wagner, who is responsible for Asia Pacific, Mergers and Acquisitions, People and Cultures, said: ‘At Allianz, we stand with the people and communities affected by the severe floods and landslides across Southeast Asia. Through immediate relief and long-term resilience support, we aim to help families recover, strengthen local communities, and better prepare for future climate-related events.’

Allianz Asia Pacific Regional CEO Anusha Thavarajah said: ‘Across Indonesia, Thailand, and Sri Lanka, many families and communities are facing significant loss and disruption. In moments like these, Allianz stands alongside them. Asia Pacific is home to our people, our customers, and the communities we serve, and we remain deeply committed to the region. Our immediate focus is on providing relief where it is most needed, while also supporting communities to rebuild and strengthen resilience, so those most affected can move forward with confidence.’

Allianz is fully dedicated to Asia and its people. It represents a strategic growth region for Allianz Group, which already has established strong market positions throughout Southeast Asia. Besides Indonesia, Thailand, and

Sri Lanka, Allianz is present with various business segments in China, India, Malaysia, and Singapore, among others.

Allianz Insurance Lanka Ltd. Country Manager/CEO Prashant Grover said: ‘The recent floods have had a devastating impact on communities across Sri Lanka, underscoring the urgent need for rebuilding and resilience. In these times, our priority at Allianz Lanka is to enable societies to recover faster and safeguard lives and livelihoods for the future. Through relief efforts supported by Allianz Group, we are helping communities regain stability and build strength for the long term.’

As Sri Lanka moves from emergency response to recovery, Allianz’s support reflects a broader commitment, in helping communities, rebuilt stronger and better prepared for the future. By combining immediate humanitarian efforts with long-term efforts in resilience building, disaster risk reduction and climate adaptation Allianz continues to play a role in addressing the evolving challenges post by extreme weather events. This approach brings about a sustainable recovery, moving beyond restoring what was lost, to strengthening communities to better withstand future shocks.

The Bar Association of Sri Lanka (BASL) has written to President Anura Kumara Dissanayake over the challenges faced by the Right to Information (RTI) Commission following the latter’s statement issued on 20 November.

The RTI Commission, established under the Right to Information Act, No. 12 of 2016, plays a vital role in safeguarding the Constitutional right of citizens to access information under Article 14A of the Constitution. Its independent functioning and accountability are therefore of paramount importance. Under Section 12(1)(a) of the Act, the BASL nominates a member to the Commission, making the Association a principal stakeholder in its operations. It is to be noted that with the limited resources, the Commission has rendered commendable service during the past decade since its establishment.

As a key stakeholder, the BASL said it is deeply concerned about the challenges currently faced by the Commission, particularly issues of serious understaffing and inadequate financing.

‘These deficiencies directly undermine the Commission’s ability to function independently and effectively. Therefore, we respectfully urge Your Excellency to take immediate steps to ensure the provision of adequate and independent financial resources to the Commission, thereby safeguarding its autonomy and capacity to discharge its mandate,’ it said.

Furthermore, the BASL said it strongly opposes amendment to the RTI Act that would curtail citizens’ right to information guaranteed under Article 14A of the Constitution.

‘We emphasise that any proposed amendment to the Act or to the functioning of the Commission must be preceded by due consultations including with the BASL, as a principal stakeholder, and with the general public. We trust that Your Excellency will give due consideration to these concerns in the interest of upholding the Constitutional rights of the people and ensuring the continued independence of the RTI Commission,’ the BASL said in its letter to President Dissanayake.