Category: Daily Financial Times

On 2 December, the Government of Sri Lanka received a donation of $ 1 million in financial assistance and RMB 10 million worth of emergency relief supplies from the Government of China. In addition, $ 100,000 was provided through the Red Cross Society of China to the Sri Lanka Red Cross Society, while Chinese enterprises and citizens in Sri Lanka contributed a further Rs. 10 million in support of the relief efforts.

The contribution was formally handed over by Chinese Ambassador Qi Zhenhong and accepted on behalf of the Government of Sri Lanka by Foreign Affairs Minister Vijitha Herath.

Minister Herath expressed the Government’s sincere appreciation to China, a longstanding friend of Sri Lanka, for its steadfast support following the recent adverse weather conditions caused by Cyclone Ditwah.

The Chinese side conveyed deep sympathy to the families affected by the disaster, noting that the people of China share the grief of their Sri Lankan brothers and sisters. China reaffirmed its confidence that, under the leadership of President Anura Kumara Dissanayake and with the collective support of the international community, the valiant Sri Lankan people will undoubtedly overcome the disaster, stand united in solidarity, and rebuild their homes in the near future.

China reiterated its commitment to standing with Sri Lanka during this difficult time and supporting the country’s efforts to recover and rebuild.

CH17 has announced plans to issue 10,000 special digital privilege cards to individuals, groups, organisations supporting the ongoing rescue and disaster relief work. Additionally, CH17 has developed a program that could assist agencies who are in control over any type of aid relief work, to monitor on real time basis, the process and to take immediate action should there be shortcomings.

CH17 has launched a special nationwide initiative to honour and support everyone working tirelessly on disaster relief efforts. The program will recognise first responders, donors, volunteers, welfare teams and media personnel who have stepped forward selflessly to help rebuild the country after the cyclone devastation.

CH17 CEO Jumar Preena said, ‘We believe our country will rise again, but only if we take the time to recognise those who served first and served hardest. We will open this Privilege Program to all those risking their safety, time, and comfort to support the destitute. Their service is the foundation on which Sri Lanka will rebuild.’

As part of this initiative, CH17 will issue a simple digital privilege card to registered responders. This electronic card will carry the volunteer’s name and a unique registration number. It will also include a scannable QR code and a 16-digit card number – just like a payment card number but used only for identity and fairness. When shown at participating stores, it will unlock special discounts funded entirely by merchants who wish to support caregivers.

CH17 partner retailers from closed-group Privilege Networks, have been requested to accept the digital card and extend special discounts to responders during purchases. CH17 will also invite thousands more private merchants, shops and service providers to join this goodwill effort, so more volunteers can be supported in more places across the island.

The entire initiative will be offered as CH17’s contribution toward the national rebuilding mission led by the Rebuilding Sri Lanka Task Force. CH17 is prepared to launch the program immediately and begin issuing the first 10,000 cards under the theme Rebuild Sri Lanka. This is the first large-scale volunteer recognition and privilege support card introduced by an independent Sri Lankan organisation for disaster recovery efforts.

CH17 has previously deployed a similar humanitarian recognition system during the COVID-19 pandemic between 2020 and 2021. Under the endorsement of the Sri Lankan Ministry of Health, production deployments were carried out jointly with local member-merchant nodes operated through the province-isolated Volunteer Classification Tier under the governance oversight of the Sri Lanka Health Ministry. ‘The CARE Program validated our ability to build immediately deployable systems for responders with joint infrastructure integration, which we are now ready to scale once again, sustainably, for the nation,’ Jumar added.

As part of this new exercise, CH17 will invite many additional merchants and organisations across Sri Lanka to join the initiative, strengthening recognition and essential aid delivery layers while ensuring non-intrusive POS interoperability, seamless API command integration, and fraud-safe closed-group benefit reconciliation. CH17 will continue to expand and enhance these privileges progressively.

The Transport and Highways Ministry yesterday reported that approximately 247 km of A- and B-grade roads across the country have been damaged due to adverse weather conditions, while 40 bridges have been destroyed.

The report was made at a discussion with President Anura Kumara Dissanayake yesterday.

Officials said that 175 out of 256 damaged road sections have now been opened to traffic.

Omnicom has announced it will lay off more than 4,000 employees and fold several well-known advertising agency brands after its $ 13 billion acquisition of rival Interpublic Group (IPG).

The advertising industry faces a serious threat as artificial intelligence (AI) reshapes creative production and tech giants such as Meta make it easier for businesses to churn out ads at scale and speed.

Omnicom’s high-stakes acquisition of IPG, which completed in November, aims to regain momentum in this shifting landscape, as it contends with fierce competition from French ad giant Publicis and UK’s WPP. The company said creative agency DDB, founded in 1949, and creative marketing agency MullenLowe will be integrated into Omnicom’s TBWA. FCB, one of the largest global ad agency networks owned by IPG with roots dating back to 1873, will be absorbed into Omnicom’s BBDO, according to the company.

Omnicom said more than 4,000 jobs would be cut as part of the IPG integration, mainly in administrative roles but some leadership positions will also be impacted.

After the job cuts, roughly 85% of the roles will be client-focused, while 15% will be administrative, the company said. The financial benefits would surpass $ 750 million in annual cost savings initially projected to investors, it added.

‘We will be delivering this news as promptly as possible to maintain transparency and privacy for those affected,’ Omnicom said in a statement.

The advertising giant said the cuts should be seen against the backdrop of similar restructuring at rivals such as WPP, which is also expected to axe jobs under new boss Cindy Rose.

IPG laid off about 3,200 employees in the first nine months of 2025, according to a regulatory filing. Omnicom last year reduced its staff by 3,000 to about 75,000. The Financial Times first reported the developments earlier in the week, citing interviews with Omnicom executives.

Union Assurance has achieved a milestone in its digitalisation journey by being awarded the YouTube Silver Play Button, recognising the Company for surpassing 100,000 subscribers on its official channel. This achievement marks a first in Sri Lanka’s Insurance industry, across both Life and General Insurance, and underscores Union Assurance’s pioneering role in digital engagement.

This accomplishment reflects the Company’s unwavering commitment to making Life Insurance accessible, simplified, and engaging for all Sri Lankans. Through innovative content strategies, Union Assurance has successfully transformed complex Insurance concepts into relatable, informative, and inspiring narratives that empower individuals to protect what matters most; health, wealth, family, and future.

Receiving the Silver Play Button is more than a symbolic accolade; it is a testament to the strength and credibility of Union Assurance’s digital presence. In an era where trust and transparency define brand loyalty, this recognition validates the company’s ability to create content that resonates deeply with a growing audience. It enhances the brand’s authority, reinforces its visibility across digital platforms, and further solidifies Union Assurance as a leader in customer engagement.

Union Assurance Chief Marketing Officer Mahen Gunarathna said: ‘This milestone is a testament to the trust and engagement of our audience and reflects our dedication to innovation, transparency, and customer-centric communication. Achieving the YouTube Silver Play Button as the first Insurer in the industry underscores our pioneering approach to digital customer engagement strategy and commitment to shaping the future of Insurance in Sri Lanka. We will continue to push boundaries in the digital space and create value that inspires confidence and elevates industry standards.’

AsUnion Assurance celebrates this milestone, the Company remains committed to driving innovation and setting new benchmarks in the Insurance industry. With plans to expand its digital footprint and introduce more interactive, personalised content, Union Assurance is poised to lead the next wave of transformation, making Insurance not just a necessity, but an engaging and empowering

A significant consignment of emergency relief items donated by the Government of Japan has been officially handed over to the Disaster Management Centre (DMC) through Japan International Cooperation Agency (JICA) to strengthen Sri Lanka’s ongoing response to the devastation caused by Cyclone Ditwah.

The consignment, which arrived in Sri Lanka on Wednesday was formally handed yesterday by Ambassador of Japan to Sri Lanka Akio Isomata and the Chief Representative of JICA Sri Lanka Kenji Kuronuma who presented the supplies to Deputy Minister of Defence Major General Aruna Jayasekara (Retd) and Disaster Management Centre Director General Maj. Gen. Sampath Kotuwegoda (Retd).

The consignment includes a range of essential humanitarian items aimed at supporting displaced families and restoring basic living conditions in hard-hit areas. The items include 200 Tents, 1,200 Blankets, 1,200 Sleeping Pads, 20 Plastic Sheets (Tarpaulin), 200 Portable Jerry Cans and 10 Water Purifiers.

These supplies will be distributed primarily across the Badulla and Kandy districts, which were among the most severely affected by the cyclone Ditwah, resulting in widespread displacement, damaged homes and disrupted livelihoods.

Sri Lanka Cricket (SLC), under the direction of president Shammi Silva and the Executive Committee, has decided to donate Rs. 300 million to the government’s ‘Rebuilding Sri Lanka’ Fund.

This decision reflects SLC’s deep sense of responsibility as an iconic national sporting body representing a game cherished by millions of Sri Lankans.

SLC is confident this contribution will support the government in delivering emergency relief to families affected by Cyclone Ditwah and in restoring essential public services needed to rebuild the daily lives of impacted communities.

Furthermore, Sri Lanka Cricket reiterates that they will continue to stand by the nation and extend its support whenever needed, as part of its commitment to the country’s progress.

Vidullanka PLC has attained Carbon Neutrality across its entire operational footprint after successfully securing the Greenhouse Gas (GHG) Verification Statement under the internationally acclaimed ISO 14064-1:2018 standard. The verification was conducted by Control Union Inspections Ltd., Sri Lanka’s branch of Control Union Global, confirming that Vidullanka’s total GHG emissions for the reporting period April 2024 to March 2025 are accurate, transparent, and fully aligned with global best practices.

The certification handover ceremony was held on the 26 November 2025, where the Greenhouse Gas Verification Opinion and the Carbon Neutral Certificate were presented to Vidullanka CEO Riyaz Sangani and Director of Operations Roshan Siriwardane respectively by Control Union Inspections Ltd., Managing Director Roshan Ranawaka.

Demonstrating its commitment to climate accountability, Vidullanka PLC has extended its verification boundary beyond Sri Lanka to include overseas subsidiaries in Uganda, covering a comprehensive portfolio of mini-hydro, solar, and biomass power plants.

According to the verified report, Vidullanka’s total GHG emissions amounted to 2,062 tonnes of CO2 equivalent. The verification, carried out in accordance with ISO 14064-3:2019, confirms that the company’s GHG inventory is complete, transparent, and free from any material misstatement.

Vidullanka was also recognised by the Sri Lanka Accreditation Board (SLAB) as a reference guideline for the power sector accreditation, reinforcing its position as a regional leader in sustainable energy and carbon management excellence.

This achievement highlights Vidullanka’s approach to measuring, managing, and mitigating its environmental footprint. Through systematic GHG accounting and responsible data management, the company continues to align its operations with global climate goals and sustainable business practices. With this verification, Vidullanka becomes the first power sector company to align its GHG reporting with Sri Lanka’s 2030 target of reducing national emissions by 20.8%, while also actively contributing to the country’s long-term vision of achieving carbon neutrality by 2050.

In addition, Vidullanka supports national objectives to reach 70% renewable electricity by 2030 and 33% forest cover by 2030 through its renewable energy generation and reforestation efforts. In the previous financial year alone, the company offset 149,949 tCO2 equivalent through energy generation and surpassed its target to plant 100k trees, demonstrating tangible progress toward these goals.

Looking ahead, Vidullanka PLC plans to further elevate its environmental management systems by integrating advanced IT-based GHG tracking tools and automated data analytics. These innovations aim to enhance accuracy, efficiency, and real-time performance monitoring across all entities. The initiative supports Vidullanka’s broader net-zero commitment, ensuring that technology-driven insights guide the company’s ongoing journey toward a low-carbon, sustainable future.

In the wake of the severe humanitarian crisis brought about by Cyclone Ditwah, the Member Associations as well as the Members of the Organisation of Professional Associations of Sri Lanka (OPA) have come together to extend vital assistance to affected communities. Acting promptly to ensure timely relief, all OPA Members and Member Associations have collectively contributed dry rations, sanitary items, bottled water, and other essential supplies worth over Rs. 1 million to all individuals impacted by this unprecedented disaster. The donations were handed over by the OPA President Jayantha Gallehewa, to the Sri Lanka Rupavahini Corporation (SLRC), Director-General Manoja Nadeeshana Amarasinghe on the 3 December 2025.

The unwavering support and generosity demonstrated by the Member Associations as well as the Members reflect the strong commitment of the professional community to stand in solidarity with those in need and support the nation during this challenging time.

The Commercial Bank of Ceylon has entered into a strategic partnership with Brown and Company PLC to make modern agricultural machinery and technology more accessible to Sri Lankan farmers and agri-entrepreneurs as part of the Bank’s commitment towards SME empowerment initiatives and inclusivity.

This partnership includes special leasing facilities aimed at driving the country’s agricultural modernisation. A Memorandum of Understanding (MoU) formalising the collaboration builds on a longstanding collaboration between the two institutions and reflects a shared commitment to advance mechanisation, productivity, and sustainability in agriculture.

Under the agreement, Commercial Bank will offer special leasing facilities through its Agri Lease and Diribala Green Development Loan Scheme to support the purchase of agricultural vehicles, machinery and equipment, protected agriculture and irrigation systems, and post-harvest machinery marketed by Browns Agriculture.

Browns Agriculture will extend a range of exclusive benefits to farmers who purchase equipment under this promotion. These include a free first-year insurance policy for selected two-wheel drive tractor models, first four labour-free services for all tractors as well as first three labour-free services for Yanmar and Sumo harvesters, and a free first-year IoT-based remote monitoring and equipment tracking platform for SUMO Automated Rice Milling Machines. Each SUMO rice mill will also carry a one-year warranty for manufacturing defects and a labour-free service within the first year.

Commercial Bank said that facilitating access to smart, eco-friendly agricultural machinery through the Agri Lease and Diribala Green Development Loan Scheme aligns with the Bank’s commitment to promote sustainable farming practices. The Bank emphasised that the initiative supports innovation and climate resilience while strengthening its relationship with rural customers and contributing to national food security.

The introduction of advanced technology and equipment is considered essential for improving productivity and reducing operational cost, the Bank said. This strategic initiative takes a holistic approach-helping farmers not only to acquire modern machinery but also to gain the knowledge and support needed for its effective use.