Category: Daily Financial Times

A superb rearguard action by Bangladesh saw them avoid an innings defeat at the hands of Sri Lanka in the second Under-17 three-day match played at Bashundhara yesterday.

Sri Lanka eventually won by nine wickets but not before overnight pair Junayed Hossen (78 off 198 balls, 4 fours) and Sourov Karmokar (123 off 257 balls, 11 fours, 4 sixes) had added 195 for the seventh wicket to lift Bangladesh from 66-6 to 278.

Left-arm spinner Himaru Deshan was the wrecker-in-chief of the Bangladesh second innings, finishing with career-best figures of 8/93 and a match bag of 11/137.

Sri Lanka were left with a target of 66 to chase and they got there losing one wicket to win the match and draw the two-match 3-day series one-all. Bangladesh won the first three-day match by 27 runs.

Skipper Rehan Peiris took the Player of the Match award for his knock of 182 in the first innings and Deshan won the Player of the Series award with 19 wickets (avg. 12.63) from two matches.

The two teams will meet in a three-match Under-17 50-over series starting 7 December at Chattogram.

Scores:

Bangladesh (U17) 122 and 278 (o/n 107-6) (Lawrence Roy 26, Rakibul Hossan 23, Junayed Hossen 78, Sourov Karmokar 123, Himaru Deshan 8/93)

Sri Lanka (U17) 335-7 decl. and 68-1 (Arosha Sithumina 24, Rehan Peiris 22*)

Rana was found to have breached Article 2.5 of the ICC Code of Conduct for Players and Player Support Personnel, which relates to ‘using language, actions, or gestures which disparage or which could provoke an aggressive reaction from a batter upon his/her dismissal during an International Match.’

The incident occurred in the 22nd over of South Africa innings when Rana was found to have gestured in the direction of the dressing room when he dismissed Proteas batter Dewald Brevis. The action was deemed that it could have provoked an aggressive response from the batter, with Rana receiving one demerit point added to his disciplinary record.

It was Rana’s first offence in the last 24 months and the right-armer admitted the offence and accepted the sanction proposed by Richie Richardson of the Emirates ICC Elite Panel of Match Referees.

India won the match by 17 runs against South Africa on the back of a superb century from Virat Kohli.

AIA Insurance has announced its outstanding achievement at the prestigious SLIM National Sales Awards 2025, where the company’s Agency and Bancassurance teams secured seven individual awards at a grand ceremony held recently.

Organised by the Sri Lanka Institute of Marketing (SLIM), the National Sales Awards is the premier platform that recognises and celebrates the exceptional talent and performance of sales professionals across Sri Lanka. The selection process is conducted in a meticulously structured manner by an esteemed panel of industry experts, reinforcing the dedication of the SLIM as the apex body in marketing by recognising the utmost dedicated and genuine professionals in Sri Lanka’s sales sector.

This year’s theme, ‘Ambassadors of Sales’ under the tagline ‘The Force Behind the Figures,’ highlights that sales excellence goes beyond numbers, embodying professionalism, leadership, and dedication. AIA Insurance Lanka’s award-winning team members exemplify these

values, setting benchmarks for excellence in the industry. Their success reflects AIA’s commitment to empowering its people and delivering unparalleled service to customers.

From AIA Partnership Distribution, Nimmi Gunathilake received the Silver Award in the Front Liner category, while Yathave Augustine was awarded the Silver Award in the Territory Manager category and Danushka Sandaruwan was recognised with a Merit Award in the same category.

From AIA Agency Distribution, K. Piran received a Merit Award in the Front Liner category. K.W. Dassanayaka won the Gold Award in the Sales Supervisor category, and K.D.M. Thakshila earned the Silver Award in the same category. Additionally, Indunil Amarasinghe was recognised with a Merit Award in the Territory Manager category.

AIA Insurance congratulates all winners and participants of SLIM National Sales Awards 2025 for their remarkable contributions to the industry.

The Public Debt Management Office (PDMO) of the Finance Ministry completed a $ 50 million borrowing round under a fixed-rate arrangement, recording firm demand for one- and two-year maturities, according to auction results released on Wednesday (3).

This was the first foreign currency Bond issue after the 2022 debt crisis and the first issue managed by a separate entity, the PDMO, and not the Central Bank of Sri Lanka.

The one-year tranche drew $ 45.5 million in bids, of which $ 33 million was accepted at a weighted average fixed rate of 5.7%. The two-year tenure received $ 42.5 million in bids, with $ 17 million accepted at a weighted average rate of 6.1%.

Only $ 1 million in bids was received for the three-year maturity, and no acceptance was made for this tranche.

The Finance Ministry noted that the issuance carries the option of being upsized up to three times depending on funding requirements and market conditions. The auction was conducted from 1-3 December through competitive bidding across all maturities. The settlement date is 10 December 2025.

Sri Lanka Insurance Life marked a momentous achievement at the prestigious SLIM National Sales Awards 2025, with its sales team being recognised for their unwavering dedication and excellence in the field.

SLIC Life Bancassurance Cluster Manager S.A. Joshua received the Silver award in the Territory Manager category, while SLIC Life Bancassurance Area Manager S.J. Prashanthi was honoured with the Silver award in the Sales Supervisor category.

These accolades underscore the exceptional commitment, expertise, and leadership of these professionals, reflecting the high standards upheld by Sri Lanka Insurance Life in the competitive insurance industry. The awards

further affirm the company’s relentless pursuit of excellence and its pivotal role in shaping innovative and customer-focused solutions.

The SLIM National Sales Awards 2025, held on 28 October, at the Monarch Imperial, celebrated top-performing sales professionals across various industries, making it a significant platform to honour outstanding achievements.

AFC Asia Frontier Fund Co-Fund Manager Ruchir Desai on Tuesday delivered an upbeat assessment of Sri Lanka’s capital market outlook, noting that the country is entering one of its most promising phases in a decade, with political stability, macroeconomic recovery, and undervalued equities creating ‘a strong platform for growth.’

Speaking at the Sri Lanka Economic Summit organised by The Ceylon Chamber of Commerce, Desai said he has tracked Sri Lanka’s market since 2014, alongside other frontier and emerging markets such as Bangladesh, Pakistan, Vietnam, Kazakhstan, and Georgia.

He noted that while Sri Lanka went through a prolonged period of turbulence between 2018 and 2023, the country now stands out for having regained both political and economic stability; conditions he described as the most critical prerequisites for sustained investor interest.

Desai said he increased the Fund’s allocation to Sri Lanka soon after visiting the country in November 2022, at what he noted as the ‘bottom’ of the crisis.

‘Valuations at that time were among the cheapest in the region, with the market trading at roughly four times forward earnings,’ he said, adding that, since then, the AFC Asia Frontier Fund has made Sri Lanka its second-largest country allocation, benefitting from both rising prices and a deliberate increase in exposure due to improving macro fundamentals.

‘For the first time in many years, Sri Lanka has both economic and political stability. The platform is set for stable growth over the next three to four years, provided this stability holds,’ he stressed.

He acknowledged the recent natural disaster as a temporary setback, but insisted markets are forward-looking and Sri Lanka has already faced and recovered from worse shocks in recent years.

Desai argued that despite a strong 2.5-year market recovery, Sri Lankan equities remain undervalued relative to their fundamentals and regional peers.

The broader market trades at around 11 times earnings, below the 14-16 times price-to-earnings ratio seen in 2014-2016, when foreign investor presence was far stronger.

‘Company fundamentals, however, have largely returned to pre-crisis strength. Earnings growth is robust across the banking, consumer, and industrial sectors, return on equity levels have normalised, and private sector banks are benefitting directly from improved credit growth and macro stability,’ he pointed out.

He compared Commercial Bank of Ceylon with Vietnam’s largest commercial bank Vietcom Bank to illustrate the valuation gap. ‘Commercial Bank trades at around one-time book value, while the comparable Vietnamese bank trades at nearly 2.5 times, yet Sri Lankan banks show stronger earnings momentum.’

In consumer markets too, Desai said companies such as Sunshine Holdings demonstrate earnings strength comparable to leading regional consumer giants but still trade at modest multiples.

Although foreign participation in the Colombo Stock Exchange remains sharply lower than a decade ago-now between 5% and 10% of daily turnover compared to nearly 50% in some years before 2018-Desai noted this is part of a global trend, not just a Sri Lankan issue, with investors shifting towards US markets as the S and P 500 and major tech stocks delivered exceptional returns over the past decade.

However, he believes foreign interest could return as macro fundamentals strengthen and stability persists. ‘If not in 2025, then by 2026 or 2027, you could see foreign funds coming back,’ he expressed confidence.

He also emphasised that Sri Lanka cannot rely solely on foreign capital and must deepen domestic investor participation, which remains low. Only 11-12% of unit trust assets under management are in equities, far below levels seen in India or Vietnam.

Desai highlighted several long-term strengths that continue to position Sri Lanka favourably. ‘Strong corporate governance and transparency, making company access and information far easier than in many frontier markets; resilient pool of well-run companies with strong brands and decades of operational history; and untapped structural sectors, including logistics and tourism, where arrivals of 2.2-2.3 million remain far below regional comparators such as Cambodia,’ he explained.

He also pointed out that Sri Lanka’s market-cap-to-GDP ratio of roughly 25% is low relative to countries with more developed capital markets, suggesting significant room for expansion as equity participation deepens.

Desai said Sri Lanka will remain a high-conviction market for the AFC Asia Frontier Fund for the next several years. ‘It’s one of my top country picks. We’ve been right about Sri Lanka for the past 2.5 years, and I remain very positive for the next two to three years. From here, it’s up to the country not to drop the ball,’ he added.

With stability restored, earnings strong, and valuations still attractive, he reiterated that Sri Lanka is well-positioned to deliver continued market outperformance, provided reforms stay on track and confidence remains intact.

Sri Lanka’s post-cyclone recovery has entered a critical rebuilding phase, with Treasury Secretary Dr. Harshana Suriyapperuma yesterday announcing that almost Rs. 700 million has already been collected through official donation accounts, driven by contributions from over 30,000 donors across 33 countries.

In a special statement issued, he detailed the latest progress of the Government’s ‘Rebuilding Sri Lanka’ Fund and the wider restoration effort underway across the country. Providing the first financial update since the official donation channels were activated, Dr. Suriyapperuma said the Bank of Ceylon’s dedicated account has received over Rs. 635 million from more than 30,470 individual deposits within just a few days.

Accounts set up at the Central Bank of Sri Lanka (CBSL) have attracted over Rs. 61 million, bringing the total to over Rs. 697.4 million.

‘Donations have flowed in from Sri Lankans and well-wishers from 33 countries, with the highest contributions recorded from France, followed by Canada, the US, Italy, and South Korea. We are really appreciative of both individuals as well as collective efforts to support Sri Lanka’s rebuilding journey,’ he said.

Dr. Suriyapperuma said the outpouring of support from local agencies, international partners and Sri Lankans overseas has been overwhelming. ‘There’s a lot of compassion and support from everyone involved in the process,’ he said, noting increasing requests from organisations and individuals seeking to assist with both recovery and long-term rebuilding.

Customs house agents and trade associations have volunteered to expedite the clearance of relief shipments arriving from overseas. ‘These goods will be cleared and handed over to the Disaster Management Centre (DMC), which will coordinate sending them to the people in need at the earliest possible,’ he said.

With rescue operations winding down, he said the Government has now shifted focus to reopening access between cut-off areas, clearing debris, and restoring basic connectivity. ‘Vehicles can start moving between the areas that were cut off due to landslides and other destruction. The cleaning up exercise and removal of debris are being carried out with significant facilitation from many Government agencies,’ he added.

The Treasury Secretary also confirmed that multilateral assistance is already being mobilised. The World Bank has begun the Rapid Post-Disaster Damage Assessment, which is expected to be completed within two weeks. ‘Data is imperative. It will enable the Government and other agencies to work with more information at hand,’ he noted, adding that the Finance Ministry, the DMC, and the national task force led by the Sri Lanka Customs Director General are coordinating the process.

As Sri Lanka prepares for the next phase, Dr. Suriyapperuma said Government agencies are working to restore essential services including electricity, water, telecommunications, and road access, while clearing damaged schools, hospitals, and public buildings to allow displaced families in temporary shelters to return home as soon as possible.

He stressed the importance of coordinated national action. ‘Citizens, individuals, corporates, and both Government and non-Government agencies have come forward to assist. That coordinated mechanism is allowing the Government to reach people in need as early as possible,’ he pointed out.

Dr. Suriyapperuma said the Treasury will continue to release regular updates as the rebuilding effort progresses, whilst thanking all contributors for supporting the country at what he described as a ‘pivotal moment in Sri Lanka’s recovery.’

Colombo’s built-up areas have warmed by up to 4°C over the last two decades, according to a study published in the Journal of the National Science Foundation of Sri Lanka, emphasising the urgent need for more green spaces in the city. In response to this growing ecological and social challenge, Dilmah Conservation and the United Nations Global Compact Sri Lanka launched Grey2Green on 22 November-a transformative national movement inviting individuals, communities, organisations, and students to turn concrete ‘grey’ areas into thriving green spaces.

Unlike traditional greening efforts, Grey2Green is not a tree-planting campaign; it is a grassroots, citizen-powered movement seeded by Dilmah. The initiative empowers the public, universities, environmental groups, and institutions to identify neglected rooftops, unused land, industrial sites, and degraded pockets of the city and convert them into ecological oases. To support participants, Dilmah will provide training in urban forestry, tree ecology, landscape planning, and ecosystem management through its expert network, ensuring that each site is restored using sound, sustainable science.

The launch event outlined the program’s vision, goals, and long-term roadmap, opening the door for widespread public involvement.

Grey2Green draws its inspiration from the success of the One Earth Urban Arboretum, where an industrial garment-waste dump was transformed into a green sanctuary, now home to more than 300 trees and shrubs. This pioneering project demonstrates how even the most degraded urban spaces can become biodiverse, restorative landscapes. Grey2Green aims to replicate this model in other parts of Colombo and its suburbs.

At the event, Dilmah Conservation presented its structured six-step method for community-led urban greening that will move from skill development, identifying locations, conducting baselines, greening, and long-term monitoring and maintenance. Speakers stressed that meaningful urban greening extends far beyond planting trees: it is a long-term, data-driven process integrating ecology, engineering, design, and community use. Environmental lawyer Dr. Jagath Gunawardana highlighted the ecological and human value of urban green spaces, describing them as vital refuges for wildlife in an increasingly fragmented city. Encouraging the public to treat urban gardens as ‘living laboratories,’ he noted that four decades of his own observations-from migrant birds to invasive species to dragonflies-were simple yet powerful acts of citizen science. ‘If we stop seeing green, we will slowly lose our balance,’ he reminded the audience. ‘Nature is not a luxury. It is a necessity.’

Plant taxonomist Dr. Himesh Jayasinghe emphasised the need for careful plant selection, community engagement, and the use of data to identify heat islands and low-canopy areas. ‘Everyone wants green spaces, but we must also protect them. Leave only footprints,’ he advised.

Representing the Central Environmental Authority, Dr. Ajith Gunawardena emphasised that urban greening is now a national priority.

‘This is not just planting trees. It’s science in action,’ added, Dilmah Tea Manager, Conservation and Sustainability Rishan Sampath who highlighted opportunities for university students and citizen scientists to participate in monitoring, research, and long-term ecosystem management.

Speaking on the global significance of the initiative, United Nations Global Compact Sri Lanka Treshan Galappathy said: ‘Urban greening is deeply aligned with global sustainability priorities, particularly SDG 11: Sustainable Cities and Communities and SDG 13: Climate Action. Initiatives like Grey2Green demonstrate how collective action can reshape our urban future.’

Ultimately, Grey2Green invites the public to co-create and safeguard vibrant, restorative urban spaces that enhance both environmental resilience and community wellbeing. Dilmah welcomes all who wish to learn about urban greening and contribute to healthier, greener cities to join the movement.

The initiative reflects a deep commitment to bridging the digital divide in Sri Lanka, particularly in rural regions where connectivity and equipment are scarce. By providing essential tech tools, the company hopes to ignite curiosity, improve digital literacy, and build confidence among students and educators alike.

The inaugural phase of this heartwarming project unfolded at Parakum Maha Vidyalaya, Vavuniya, where laptop.lk donated laptops, desktops, and printers worth over Rs. 1 million. For the students and teachers, this isn’t just technology-it’s a passport to possibility.

Spearheaded by laptop.lk Chairman Famy Ismail, Digital Wings represents more than a corporate contribution; it’s a call to action. ‘Every child deserves the tools to dream bigger, learn faster, and explore further,’ said Ismail. ‘Digital Wings is our way of ensuring that no student is left behind in a world driven by technology.’

As Sri Lanka continues to embrace digital transformation, initiatives like Digital Wings bring hope to rural communities where resources are limited but talent is boundless. The program underscores laptop.lk’s belief that progress begins with access to knowledge and that every student, regardless of geography or background, deserves the chance to excel.

Digital Wings is a timely reminder that progress begins with inclusion-and that when young minds are given the tools to soar, the entire nation rises with them.

Humanities, Arts and Social Sciences research continues to face resistance and concern, compared to Science Technology, Engineering and Mathematics (STEM). To further exacerbate matters, the career paths of researchers working in Humanities are often precarious and tenuous. Sadly, this seems to be a global phenomenon.

In this exclusive interview, Senior Fellow of Advance HE Susan Gasson, PhD. shares her insights from her latest edited volume Early Career Researcher Pathways, into how early career researchers navigate the challenges in the workforce. Here is an excerpt from the email interview:

Q:How would you describe being an ‘early career researcher’ to someone who is not in academia?

A: The early career researcher I am writing to in my book is anyone enrolled in a doctoral program or within six years of graduating from one. This group of people have the potential to lead global research into the future, and is the engine room for teaching, learning and service in higher education.

Q: What inspired you to write this book, and how did the idea first come to you?

A: As a manager and senior lecturer in the tertiary sector, I saw increasing evidence of challenges facing doctoral graduates in entering the workforce. I wanted to understand those challenges more and to enable the pursuit of careers in academia and industry. I wanted to see this important cohort realise their expectations and realise the benefits they could provide for the broader community.

Q: Your latest edited volume Early Career Researcher Pathways refers to ‘seven tensions’ that new doctoral graduates face. Can you briefly explain these tensions?

A: The tensions emerged from discussions with current early career researchers. They each arose as researchers navigated their doctoral journeys and early years in the job market after graduation. One relates to the conflicting roles of doctoral education – one is to provide an enduring and well-understood qualification that has a global presence, competing with that is the need for the qualification to evolve to meet changes to our social, economic, technological and geopolitical contexts. Another relates to different expectations placed on those seeking to progress careers in the academy and industry.

Another focuses on mid-career professionals and their options after graduation to progress into the academy (pracademics) and advance their existing professional profile through augmented capacity as research-led practitioners (Prosearchers). Another explores the demands placed on early career researchers to collaborate while simultaneously demonstrating individual expertise and capacity. The next may be very relatable to many, the challenge of balancing workload and well-being. The last reveals the role of physical and virtual places in engaging in study, work and society. This last tension emerged as I discussed the impact of COVID-19 with research participants. The ongoing impact of people working from home, and the ability to instantly access and work with colleagues and collaborators around the globe, is explored.

The book covers early career researchers from Australia, Asia, and the Americas.

Q: Did you notice any commonalities across regions, and any distinct regional differences?

A: What I discovered was that there continues to be a huge mobility in this workforce. Many travelled internationally to engage in doctoral studies, and then continued to travel the globe in search of secure employment and career progress. The need to be globally relevant and to pivot to different workplace and cultural environments is a part of following early career pathways for many.

Q: If there’s one message you’d like early career researchers or institutions to take away from this book, what would it be?

A: My message is that the opportunities for early career researchers continue to emerge. Early career researchers need to be open to these and make an effort to use them to meet very diverse career expectations. They must apply themselves to deliberately plan and prepare, and be ready to pivot in order to ensure secure career futures. Institutions and professional bodies have a role in helping them to understand the skills and capacities they have and can refine through doctoral studies. They can offer resources and developmental opportunities that can help early career researchers align their studies and experiences to meet their career aspirations.

Q: Are there lessons from the experiences of early career researchers that apply to other professions (for example, the corporate sector/Government)?

A: The tensions facing early career researchers have relevance for those pursuing professional careers as well. Some of the strategies outlined in the book may also be transferable to these contexts.

Q: Are you working on any related projects or future books?

A: I am just finishing off the second volume of Confident Supervisors, and a third volume is already being considered. I am also hoping to write more on narrative inquiry and conduct additional research to better understand the role of collaboration and communication in building capacity for learning, leadership and well-being in diverse communities.

FT Profile

Susan Gasson’s research focuses on research education and development, research collaboration, and employability. Adopting qualitative approaches, including narrative inquiry, her research has benefited from years spent working in higher education and building strong national and global networks. She managed the Research Students Centre at the Queensland University of Technology (QUT), Australia, for two decades before joining James Cook University as Coordinator, Higher Degrees by Research Advisor Development for five years. She is a Senior Fellow of AdvanceHE.

Her most recent research publications have focused on Early Career Research Pathways, and Collaborative Research and its application in different contexts, including research writing, doctoral studies, and support for the participation of women in higher education. Her PhD thesis explored Early Career Researcher pathways. She was the leading editor on Emerald Publishing’s Early Career Researcher Pathways, and the open-access online ebooks Confident Supervision Volumes 1 and 2

Susan has co-authored with collaborators in Europe, North America, Asia and the Pacific. Her interest in researcher development has led to the creation and co-creation of several online resources, including interactive and integrated forms, online communities, and Blackboard and WordPress sites.