Category: Daily Financial Times

Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI), which returned to positive territory in August and continued its upward trend for the next two months, remained steady in November 2025.

The Central Bank of Sri Lanka (CBSL) yesterday said headline inflation (Y-o-Y) remained steady at 2.1% in November 2025, unchanged from to 2.1% in October 2025. However, inflation was up from 1.5% in September and 1.2% in August, in line with the Central Bank’s near-term projections. CBSL has an annual 5% inflation target.

Food inflation (Y-o-Y) decelerated to 3% in November, down from 3.5% in October, but up from 2.9% in September and 2% in August, while the non-food inflation (Y-o-Y) increased to 1.7% from 1.4% in October, 0.7% in September, and 0.8% in August.

On a month-on-month basis, the CCPI decreased by 0.23% in November, with the food category recording a 0.18% decrease and the non-food category decreasing 0.05%.

CBSL said core inflation (Y-o-Y), which reflects the underlying inflation trends in the economy, edged up to 2.4% in November, up from 2.2% in October and 2% in September 2025.

Latest projections show the continuation of gradual acceleration of inflation towards the target of 5% in the period ahead, with the support of appropriate policies, CBSL said.

Ambeon Capital PLC said its Board has approved the establishment of an Employee Share Option Plan (ESOP) to grant share options to senior management roles across the Ambeon Group, including executives holding permanent or fixed-term positions in its subsidiaries.

The company said the ESOP will allow eligible employees to purchase ordinary shares in Ambeon Capital, with the total number of shares to be issued capped at 10 million. If fully exercised, the allotment would represent about one percent of the company’s total issued shares.

Ambeon Capital currently has a stated capital of Rs. 1.053 billion and 1,002,724,815 shares in issue.

The granting of options under the ESOP will comply with Colombo Stock Exchange Listing Rules and remains subject to in-principle approval from the CSE and shareholder approval via a special resolution at a general meeting.

The public shareholding was 18.26% as of end-September 2025. ARRC Capital was the majority shareholder at 13.24%, followed by ATX Partners (9.77%) and Arcasia Investments and Trading (7.63).

The group reported Rs.10.10 net asset per share as of end-September 2025.

India batter Virat Kohli received plenty of plaudits after he scored his 52nd ODI century in a Player of the Match performance against South Africa on Sunday.

Kohli was at his brilliant best as he blasted 135 from just 120 deliveries in Ranchi and in the process help India to a 17-run triumph and a 1-0 series lead in the three-game ODI series against the Proteas.

The veteran shared a 136-run stand with former skipper Rohit Sharma (57) and looked in great touch as he reached triple figures for the first time in 50-over cricket since his superb unbeaten century against Pakistan at the ICC Champions Trophy in February.

The innings caught the eye of India Batting Coach Sitanshu Kotak who admitted it was an honour to watch the 37-year-old still at the top of his game.

‘It was an outstanding knock, obviously. He batted really well, not just in the one-day format but all the formats he has done well,’ Kotak said of Kohli.

‘This was the 52nd ODI hundred he got, so he’s a thoroughly outstanding player, and he took responsibility, and the way he batted was very good.’

The century also further raised the question as to whether Kohli and Rohit would continue to ply their trade at ODI level, with the hope of continuing on until the next edition of the ICC Men’s Cricket World Cup in South Africa, Zimbabwe and Namibia in 2027.

Rohit Sharma broke the record for the most sixes hit in men’s one-day internationals as India edged South Africa by 17 runs in the opening game of their series in Ranchi.

After being asked to bat, India posted 349-8 with Virat Kohli hitting a record-extending 52nd ODI century with a brilliantly paced 135 off 120 balls.

He shared 136 with Rohit, who made 57 off 51 balls, for the second wicket.

Rohit, who already held the record for the most sixes across formats in international cricket (now 642), hit three sixes to overtake Shahid Afridi’s 15-year record of 351 ODI maximums.

India were 161-2 in the 22nd over when the former captain was dismissed and run-scoring became more difficult in the middle overs but the hosts were superbly marshalled by Kohli.

He also shared 76 with stand-in captain KL Rahul, who then took over when Kohli was dismissed, to hit 60 off 56 balls.

South Africa slipped to 11-3 in reply and 130-5 but Matthew Breetzke (72 off 80) and Marco Jansen (70 off 39) gave them hope with a 97-run stand.

Both were dismissed in the 34th over by Kuldeep Yadav and South Africa’s hopes seemed over at 228-7.

However, Corbin Bosch (67 off 51) put on partnerships with Prenelan Subrayen and Nandre Burger, who both made 17, to leave the Proteas needing 37 from 18 balls.

Bosch was farming the strike and turning down singles and left 18 from the final over, but he skied the second ball from Prasidh Krishna to cover.

The second game in the three-match series takes place on Wednesday.

Opposition lawmakers yesterday staged a walkout accusing the Government of refusing to allow a formal discussion on the policy response needed to manage the unfolding disaster caused by Cyclone Ditwah which left over 350 dead, 360 missing and 1.1 million people affected by landslides and flooding.

The MPs said they would rather assist affected communities than sit through proceedings that, in their view, avoided the central issue of the crisis.

Raising the matter in the chamber before the walkout, Samagi Jana Balawegaya MP Kabir Hashim said the scale of devastation could have been significantly reduced had the Government acted on advance warnings.

He said both the Meteorology Department and the Irrigation Department had issued alerts on 12 November of the likelihood of severe weather and high-risk conditions in multiple districts. According to him, these warnings were neither meaningfully considered nor translated into precautionary measures.

Hashim said past practice in reservoir management required water to be released gradually when heavy rainfall was forecast.

Instead, he argued, delays forced authorities to open spill gates suddenly, contributing to major flooding downstream. Referring to earlier emergencies, he said Parliament had previously discussed similar risks and that institutional memory should have guided decisions ahead of the current crisis.

The MP claimed that had water releases been phased from mid-November, most lives lost could have been saved. He argued that Parliament should have debated these warnings in advance, drawing on technical expertise that could have shaped a timely response.

When the Speaker proceeded to the next item on the agenda without accommodating the request for a discussion, the Opposition announced its decision to leave the chamber.

Opposition members said the Government had failed to recognise the urgency of the situation and that keeping the matter off the Parliamentary agenda reflected a disregard for preventive action.

They maintained that the disaster’s impact was worsened by avoidable delays and a lack of coordinated decision-making despite clear forecasts.

The Board of Investment (BOI) yesterday confirmed that all Free Trade Zones (FTZs) have resumed near-full operations, with only limited disruptions reported in the aftermath of Cyclone Ditwah. ‘We have successfully kept the impact to a minimum. Only the Thulhiriya zone and a single factory in the Polgahawela zone experienced notable damage,’ BOI Chairman Arjuna Herath told the Daily FT.

He added that BOI teams worked around the clock to restore electricity and water supply in affected areas, ensuring factories could resume operations as quickly as possible.

The Chairman added that the BOI continues to monitor conditions closely as factories work through logistical challenges arising from the adverse weather.

BOI Director General Renuka Weerakone noted that while overall attendance has dropped due to difficulties in accessing work sites, particularly where certain roads remain partially submerged; factory operations have not been halted. She added that some companies have introduced work-from-home (WFH) flexible arrangements, where feasible to ensure business continuity. (CdeS)

The Management Club (TMC) Colombo chapter has concluded its 3rd Members’ Speak event titled; ‘Eat the Soup! Project Management for Organisational Survival, Growth and Success’ on 13 November 2025 at the Cinnamon Grand Hotel, drawing an audience of professionals and entrepreneurs eager to strengthen their understanding of project management.

TMC Colombo Chairperson Duneeshya Bogoda, highlighted the organisation’s mission of fostering professional growth through knowledge, networking opportunities and member engagement. She also announced two major events planned for 2025-‘The Way Forward’ and ‘TMC Christmas Night.’

TMC Vice Chairman Samitha Senevirathne, compered the event with his signature engaging style. He also introduced the theme, describing it as a thought-provoking and relatable concept-much like titles such as; Rich Dad Poor Dad and Who Moved My Cheese. His introduction set the tone for a session that encouraged participants to see project management through a creative and practical lens. The keynote speaker, Dr. Madhu Fernando, a seasoned project management expert with over 30 years of experience, captivated the audience with her unique approach of explaining project management through the process of preparing a soup. She linked each step-identifying who will ‘eat’ the soup, gathering and preparing ingredients, planning, execution, and serving-to core project management principles such as understanding stakeholder needs, planning, teamwork, resource allocation and delivering results. Dr. Fernando emphasised that effective project management is essential for organisational survival and growth across all sectors. Poorly managed projects, she noted, are similar to ‘burnt soup’-a result of inadequate planning, weak communication and insufficient monitoring.

Industry professionals in the calibre of S.A. Paulraj, Nihal Premachandra praised the session, commending the freshness of the metaphor and the clarity of delivery. Dr. Saliya Balasooriya, project Chairperson of the Members Speak initiative, thanked the speaker and audience for their active participation and noted the relevance of addressing Sri Lanka’s project delivery challenges. The event concluded successfully, reinforcing TMC Colombo’s commitment to advancing professional excellence and meaningful learning experiences.

New TMC members of Colombo

Vinita Shenoy is the Principal of a leading International School in Colombo (Gateway College) and believes in ‘Growing a team’. Skilled in being a catalyst to team members, friends, and others to enhance themselves. She has dabbled in various Diplomas in Computer Studies, Human Rights and Ikebana (Sogetsu School). She holds Degrees in Commerce, Teaching Technology in addition to an MBA in Human Resources. Vinita has been in the Education field for over four decades, both in India and Sri Lanka. Her role encompasses lecturing, administration, teacher training, as well as being a team player in curriculum enhancement. She has been invited to be a panellist on several education-related forums locally as well as internationally.

Motivista Ltd., CEO Lakisha Perera brings over a decade of corporate experience. She holds dual degrees BSc (Hons) in Biomedical Science and BA (Hons) in Business, and a Master of Business Administration from the University of Chichester (UK). She is also a qualified Chartered Marketer. Lakisha is an active member of Lions International and the BNI Elite Chapter, currently serving as Zone Chairperson for Lions District 306 D7 and Social Media Coordinator for BNI Elite. Notably, she is a former Leo District President of 306 C2 Sri Lanka (2023/24) and was honoured as ‘Leo of the World’ (2021/22).

Kamaya Perera is a Partner at KPMG Sri Lanka and President of the Chartered Management Institute (CMI) – Sri Lanka Branch. She serves as the head of Management Consulting and Technology, the Deputy Head of Advisory and People, Performance and Culture, leads Integration and Separation Advisory, and Executive Search, at KPMG. Kamaya also heads the National Development Assistance Sector, driving socio-economic initiatives. With 22+ years of experience across government and private sectors, she is an ACA, FCMA (UK), CPA (Australia), CGMA, and FCMI. She holds a Master’s in Business Economics from the University of Sri Jayawardenapura and a BSc (Hons) in Business from the Manchester Metropolitan University, UK.

New TMC members of Mount Lavinia

Chandika Jayawardane, a sales and marketing professional with over 25 years of management experience in the insurance and pharmaceutical sectors, joined TMC Mount Lavinia in October 2025. He currently serves as Senior Manager – Corporate Accounts at Ceylinco General Insurance Ltd. Chandika holds an MBA from Suffolk University, UK, and a Professional Diploma in Marketing (UK).

Abdul Careem, an accomplished entrepreneur and strategic marketing professional, also joined the chapter in October 2025. With over three decades of experience-including 24 years as a successful entrepreneur-he is recognised for his pioneering work in Neuromarketing and Behavioural Neuroscience. Careem is the Brand Ambassador for The Chartered Institute of Marketing (CIM UK) in Sri Lanka and continues to inspire professionals through his innovative approach to business and leadership.

Nations Trust Bank PLC has announced that its Board has approved a Basel III-compliant Tier 2 debenture issue of up to Rs. 15 billion, subject to market conditions and investor demand.

The bank will initially issue 100 million listed, rated, unsecured, subordinated, redeemable debentures with a non-viability conversion feature at a par value of Rs. 100 each, raising Rs. 10 billion.

The Board has also approved an option to issue a further 50 million debentures to raise an additional Rs. 5 billion in the event of an oversubscription. The maximum size of the issuance will therefore not exceed Rs. 15 billion.

The instrument is intended to strengthen the bank’s capital base and supporting future growth. Further details on the coupon structure, tenure and timeline for the issuance will be announced upon finalisation of the offer document.

The bank reported total assets of Rs. 691.1 billion as of end-September with Rs. 13 billion in stated capital and Rs. 68 billion in retained earnings. The bank in the process of acquiring the Sri Lankan retail banking business of HSBC in a deal worth Rs. 18 billion.

Asia and the Pacific is also the global region most prone to disasters. It’s likely this situation will be considerably aggravated by climate change. Four environmental disruptions induced by climate change are of particular concern in Asia and the Pacific: sea-level rise and storm surge, cyclones and typhoons, riparian flooding, and water stress.

The Intergovernmental Panel on Climate Change (IPCC) Fifth Assessment Report highlights South Asia’s vulnerability to climate change, predicting rising temperatures, more variable precipitation, and increasing intensity and frequency of natural hazards.

The geographical location of Sri Lanka makes the country prone to several natural hazards, mostly weather – and water-related, such as flooding, landslides, lightning, drought, tsunamis, etc. Sri Lanka’s vulnerability to disasters stems from its high population density and economic activities, which are mainly concentrated in flood-prone and coastal areas.

The country is frequently placed among the top ten countries in the world in terms of vulnerability to climate catastrophes (German Watch, 2019 and 2020). Evidence of changing climate conditions across the island includes rising annual average mean temperatures, rainfall, and drought patterns, among other things, with the dry and intermediate (DandI) zones, considered the island’s agricultural heartland, being more vulnerable to climate change than the rest of the country.

Asia and the Pacific will be greatly impacted by climate change, partly because of its high exposure to climate impacts and partly because of the great vulnerability of some areas. This warming will be least rapid in Southeast Asia, but stronger in South and East Asia, and stronger in the inner parts of Asia, especially in North Asia. South Asia, East Asia and Southeast Asia will also very likely experience an increase in the occurrence of extreme weather events, such as heat waves and flash floods, as well as a 10-20% increase in tropical cyclone intensities. Sea-level rise should also be greater than average in the region, at about 3 mm/year. (Cruz et al. 2007). Among the impacts of these changes is a possibly significant decrease in cereal production, though there will be regional differences in maize, wheat, and rice yields. A northwards shift of the arable lands is also likely; currently a large share of the region’s arable lands are put to use. Livestock, fisheries, water resources, and food supply could also be significantly reduced. The different socioeconomic impacts of climate change could influence migration patterns in different ways. Climate-related disruptions of human populations and consequent migrations can be expected over the coming decades.

National impact

Due to a combination of heavy rainfall, geological changes in the hill country, and deforestation, the severity of landslides in the country’s mountainous regions has increased over the past two decades. In the districts of Badulla, Nuwara Eliya, Ratnapura, Kegalle, Kalutara, Kandy, and Matale, landslides are prevalent.

According to estimates from multiple models, Sri Lanka’s annual mean temperatures will increase. There will be sea level rise, storm surges, and coastal erosion, with the greatest impact on the west, southwest, and southern coastal regions, where nearly half of Sri Lanka’s population resides. The northern region of the country is frequently struck by cyclones, especially in November and December. In the past, cyclones and other climate-related disasters have been relatively mild, but their frequency and magnitude are likely to increase in the future.

Conventional challenges faced by the irrigation sector in the country get compounded and more complex due to increased risks posed by natural hazards intensified by climate change and other changes.

Under the Disaster Management Act, the National Disaster Management Policy and National Disaster Management Plan shall provide guidance for ‘the protection of life of the community, property, and environment from disasters and the development and maintenance of disaster-resilient infrastructure’, ‘the effective use of resources for preparedness, prevention, response, relief, reconstruction, and rehabilitation,’ and ‘pre-disaster planning, preparedness, and mitigation while sustaining and further improving post-disaster relief, recovery, and rehabilitation capacities’.

The Government of Sri Lanka is a signatory to the Sendai Framework for DRR(SFDRR) and the National Disaster Management Plan 2018-23 was developed to align with and aim to realise national SFDRR commitments.

Practical suggestions

Conventional wisdom makes the Government Agent the first responder. Backed by scores of Divisional Secretaries. The Disaster Management Centre has specific functions to perform. In extreme situations a Commissioner General Essential services is appointed.

Practical guides would require essential services to be identified. The entire mechanism needs to be scientifically informed well in time. The NBRO, Met Dept., Hydrology and Disaster Management (Hug and DM) division are some of the sources.

During Elections over 100,000 public officials, buildings, vehicles are commandeered and deputised on duty. Equally we should identify departments, staff categories, locations to service needs during disasters. There is nothing to prevent the nine Governors being deputised by the President to steer the provincial disaster management response mechanism

Sri Lanka is frequently placed among the top ten countries in the world in terms of vulnerability to climate catastrophes (German Watch, 2019 and 2020). Evidence of changing climate conditions across the island includes rising annual average mean temperatures, rainfall, and drought patterns, among other things, with the dry and intermediate (DandI) zones, considered the island’s agricultural heartland, being more vulnerable to climate change than the rest of the country

Providing information to the public is key. In key essential service providers we should ensure families and employees alike are secured to ensure they can provide services uninterrupted.

An example of the functions of a specialised agency

Hydrology and Disaster Management (Hyg and DM) division is a specialised division of the Irrigation Department (ID), which is responsible for collecting and maintaining the hydro-meteorological information system of the country. It was formed as a separate division in the year 1935, around 35 years after the formation of the Irrigation Department. However, the collection of hydro-meteorological data in major river basins had been started a few decades back. The division mainly collects water levels in rivers and streams. In addition, the rainfall is measured in most of the river gauging stations. As well as wind speed, humidity, temperature, and evaporation are also measured in several stations.

Objectives

The primary objectives of the division, which plays a unique role in ID, are:

1. Hydrological Data Collection and Management

2. Hydrological Data analysis

3. Flood Forecasting and Early Warning

4. Coordination with other Disaster Management Authorities for better management of disasters.

Functions

The main functions of the division can be summarised as follows.

1. Collection of hydro-meteorological data throughout the country

2. Archiving, storing, and dissemination of hydro-meteorological data and information. Processed Hydro-meteorological data and information collected and archived by the division are used not only by the ID, but also by other institutions responsible for water-related infrastructure development for various purposes in the country. These data are mainly used for water resources planning and management for irrigation development, domestic and industrial water uses, flood management, academic research work carried out by different professionals and university students, etc.

3. Developing and updating Rating Curves of Hydrological stations around the country (both the permanent and peripheral gauging stations).

4. Processing hydro- meteorological data and converting them to useful information

5. Developing Rating Curves for irrigation canals.

6. Developing flood models for flood early warning and forecasting.

7. Mapping flood events in major river basins.

8. Publishing Hydrological Annual.

9. Monitoring, Forecasting and Issuing flood warnings for major river basins of the country.

Flood early warning

Flood monitoring and issuing early warning messages for all major river basins of the country 24X7-hour basis can be considered as one of the important tasks of the division. These messages are issued to several responsible authorities including Disaster Management Centre (DMC) and the general public in each and every flood event. Historical records bear witness how accurately and quickly those messages are being delivered. These immediate actions which were taken by the division have not only reduced damages to the properties but also to save many human lives. Following graphs verify the accuracy and the quickness of the early warning messages which were issued during most recent floods in 2021.

Preparation of Ratings Curves

Engage in taking discharge measurements can be considered as one of the major key responsibilities of the Division. Discharge Measurements are done not only in Major rivers, but also in tributaries where quantification of water needs to be done. The process of taking discharge measurements is generally known as ‘current metering’. Developing and updating the Rating Curves are the ultimate purposes of this process.

Hydro-Meteorological Information System (HMIS)

In addition to the 42 permanent gauging stations, there are 106 automated stations which are installed, supervised and maintained under this division. Data is transmitted automatically and Engineers and Technical Staff of the division visit those stations regularly in order to maintain the stations and assure the quality of the data. These stations are installed such that it covers most of the critical and important locations of major river systems of the country. Data is transmitted to the system every 10 minutes. These data play a significant role during flood events and are very useful in running hydrological models for forecasting purposes. However, considering the security and the capacity of the system, access to the system is permitted only for authorised parties. The following figure is an image of the user interface where the data is amalgamated and displayed.

Semi-Automated Information System (SAIS)

As mentioned above, there are 42 permanent gauging stations which collect both river water levels and rainfall hourly. In addition to that some of these stations have been developed into Hydrometric Weather Stations. These stations are manned with HSHH on a 24×7 basis.