Category: Daily Financial Times

‘India, given its large population, experienced the highest absolute number of child displacements linked to weather-related disasters during this period, totalling 6.9 million across all hazards,’ the report said.

‘Bangladesh recorded the highest relative impacts, with child displacements representing an estimated 7.2% of its child population. Sri Lanka followed closely, with an estimated 4.6% of its under-18 population displaced over the past seven years.’

From 2016 to 2022, Sri Lanka recorded an average of 965 child displacements per disaster. Over that seven-year period, approximately 280,000 Sri Lankan children, or 4.6% of the country’s child population, were displaced. ‘Storms caused 54% of the displacement, while floods forced 44% to leave home,’ the report noted.

Tropical Cyclone Roanu, which brought the heaviest rainfall to Sri Lanka in more than 25 years in 2016, displaced around 141,000 children. However, most of these displacements were ‘pre-emptive evacuations,’ which UNICEF said helped prevent fatalities.

‘When analysing the regional data, it is crucial to acknowledge that many displacement figures stem from pre-emptive evacuations, particularly in countries with established evacuation procedures and early-warning policies like Bangladesh, India, and Sri Lanka,’ the report said.

‘While these evacuations constitute a form of displacement and can create vulnerabilities for children, they have proven highly effective at protecting lives, with fatalities from natural hazards, especially cyclones, decreasing dramatically since implementing such preventive measures.’

The report noted that South Asia remains vulnerable to displacement caused by weather-related disasters and the worsening impacts of climate change, intensified by rising sea levels, extreme weather events, and other hazards.

‘Amidst these crises, children face considerable risk, including disruptions to their education and healthcare and increased exposure to protection violations, including violence and exploitation,’ UNICEF said.

The organisation urged Governments, donors, development partners, and the private sector to work together to improve protection, preparedness, and inclusion of children in climate-related policies and actions.

M Power Capital Securities Ltd., (MSEC) said it has facilitated over Rs. 53 billion in structured finance transactions over the past five years, reinforcing its position as a premier debt arranger in the country’s financial sector.

Having commenced operations in 2014, the firm has focused on delivering structured finance solutions that address the funding requirements of financial institutions across both short and long-term horizons. The cumulative volume between 2020 and 2025 reflects growing investor appetite, trust for well-structured credit products and an evolving sophistication in Sri Lanka’s debt capital markets.

A key highlight of M Power Capital’s journey is zero default due to focussed and intelligent due diligence/risk management. This is underscored by meticulous periodic portfolio reviews and performance monitoring with results independently audited by external accounting firms. Additionally, select transactions are subjected to third-party ratings, further validating the risk management rigor that underpins MSEC’s structuring approach.

Over the 5-year period, the company has built a client base of more than 500, with over 50% comprising HNIs across the investor spectrum.

The transactions span a broad credit spectrum. The majority of the transactions fall within the investment-grade category, with a balanced distribution across other risk tiers. Unrated structures were supported by comprehensive internal credit assessments and credit enhancements where appropriate.

Unrated Issuer structures were supported by comprehensive internal credit assessments and credit enhancements where appropriate.

Over the five-year period, MSEC has successfully structured and placed more than 60 securitisation transactions, enabling a diverse mix of non-bank financial institutions and corporates to access funding for a variety of needs, including but not limited to short-term liquidity and longer-term capital requirements. These transactions have contributed significantly to credit intermediation, liquidity management, and financial inclusion.

The firm’s role extends beyond advisory, encompassing transaction structuring, credit evaluation, documentation and placement, ensuring alignment of risk and return for both originators and investors.

Reaching this Rs. 53 billion milestone underscores M Power Capital’s disciplined approach, marked by transparency, robust structuring standards, and investor-centric solutions, which continues to set benchmarks for the industry.

Looking ahead, the firm said it remains committed to deepening partnerships with financial institutions and corporates across the country, helping them unlock new funding channels, diversify capital structures, and drive sustainable economic growth while building a more resilient and inclusive capital market ecosystem.

Bernard Philknit (Ceylon) Ltd., has launched its new collection of vests and T-shirts.

This launch marks a significant step in the company’s rebranding efforts, reaffirming commitment to quality and innovation under the new brand identity ‘Boths By Bernards.’

Under the leadership of Bernards Managing Director Suveksha Botejue, the company has focused on modernising its product range while staying true to the principles of comfort and durability that have made its products a household name.

The new collection, developed at the company’s factory in Colombo, is crafted from the highest quality materials, offering a luxurious feel and exceptional breathability. The designs have been thoughtfully developed to be uniquely comfortable and lengthened for a modern, relaxed fit.

‘We are incredibly excited to bring this new collection to our customers,’ said Suveksha. ‘Our brand, ‘Boths By Bernards’, represents our commitment to enhancing our range and expanding our reach. We have always been a trusted name in corporate apparel, and this new line allows us to cater to both our loyal corporate clients and a wider consumer base looking for premium, comfortable everyday wear.’

The rebranding to ‘Boths By Bernards’ signifies the company’s strategic move to evolve with the changing market demands and cater to a broader range of customers while upholding the legacy of quality established by its Founder, Bernard Botejue.

Lanka Credit and Business Ltd., has sold a 17.08% stake in Lanka Credit and Business Finance PLC (LCB Finance PLC) for Rs. 877.5 million.

Lanka Credit and Business Ltd., is the holding company of LCB Finance PLC.

The company said it sold 135 million shares in the market at Rs. 6.50 each on Friday (3 Oct.) LCB Finance shares closed at Rs. 7.90 yesterday. It reported a net asset per share of Rs. 4.05 as at end-June 2025.

Lanka IOC PLC has come on board to partner with Rescue Animals Sri Lanka (RAS), in the latter’s fundraiser, Gabriel’s Charity Auction and Fashion Show in aid of Rescue Animals Sri Lanka, on 31 October at the Cinnamon Grand.

Lanka IOC Managing Director Dipak Das said: ‘Sustainability is at the heart of our business model. Our decision to partner with RAS stems from our corporate commitment to provide environmentally responsible energy, and help engage communities establish win-win partnerships for humans and nature.’

RAS was founded by Anusha David, driven by her sheer love for animals and her deep desire to help as many as she could. Hailing from a family involved in caring for stray animals, her work in this field began over five decades ago. From domestic to farm animals and wildlife, RAS’ work is all encompassing and includes street work amongst Community animals, running an animal sanctuary, rescuing farm animals, and battling court cases on behalf of beleaguered wildlife.

‘Coexistence with nature and animal life is essential for all life, humans and animals alike. It is indeed heartening that Lanka IOC has come forward to partner with us in our endeavours and Das’ foresight and commitment is laudable and I can only hope that it will be emulated by other Corporates,’ David said.

Defending champion Jannik Sinner retired injured from the Shanghai Masters but last year’s runner-up Novak Djokovic battled back from a set down to reach the last 16.

Top seed Sinner suffered a leg injury in his third-round match against the Netherlands’ Tallon Griekspoor.

He began to experience issues in the fourth game of the third set, before deciding he could not continue when trailing 7-6 (7-3) 5-7 2-3.

The 24-year-old Italian was the overwhelming favourite to win the ATP 1,000 event for a second time after world number one Carlos Alcaraz announced his decision not to compete due to an injury he picked up in winning the Japan Open.

Sinner took the first set on a tie-break and missed the chance to take a foothold in the match when Griekspoor saved three break points early in the second set.

But it was the Dutchman who eventually gained the upper hand in the 11th game, breaking the world number two with a backhand winner.

As the clock ticked past midnight, Sinner ended the fourth game of the third set crouched over in pain, limping around the court.

He then hit a series of shots into the net to be broken in the fifth game and called it quits after being helped back to his chair.

Griekspoor, the 27th seed, will face French qualifier Valentin Vacherot in the next round after his opponent, 20th seed Tomas Machac, also retired injured.

Sinner was the second big name to bow out on Sunday, with fourth seed Taylor Fritz losing his third-round match 6-4 7-5 to Frenchman Giovanni Mpetshi Perricard.

Djokovic said he showed ‘a lot of guts’ to come back from a set down in humid conditions to beat inspired qualifier Yannik Hanfmann and reach the fourth round.

The 38-year-old Serb looked sluggish in the first set but recovered to win 4-6 7-5 6-3 in two hours and 42 minutes.

Djokovic will face unseeded Spaniard Jaume Munar in the last 16.

Several provincial unions yesterday in a statement urged the World Rugby body must not be party to an illegal process and claimed that suspension threats against Sri Lanka Rugby were unjustified and politically driven. In its statement the unions said the following

No justification for suspension of Sri Lanka Rugby

The majority of Provincial Unions of Sri Lanka Rugby (SLR) categorically state that there is no legitimate basis for World Rugby (WR) or Asia Rugby (AR) to suspend SLR. SLR has not violated any regulation of WR or AR, nor has it engaged in conduct warranting disciplinary action.

The ongoing crisis arises entirely from the illegal adoption of a new Constitution-facilitated and endorsed by WR, the Ministry of Sports, and the politically appointed Working Task Force (WTF)-which directly contravenes the principles of good governance and due process.

Irregular and unlawful adoption of SLR Constitution

The so-called Special General Meeting (SGM), where this Constitution was purportedly adopted, was conducted in blatant violation of established norms. At this meeting:

All club members, including those without voting rights, were permitted to sit and participate.

The Constitution was passed under ‘Any Other Business’, a procedural irregularity that invalidates the entire process

The Referees’ Union was recorded as seconding the motion without any formal vote being held. This meeting was neither authorised nor legitimate under the existing SLR Constitution and therefore renders all subsequent actions void.

Political interference and breach of Olympic charter principles

The Working Task Force, led by the Ministry of Sports, has overstepped its authority by approving club registrations and nominations. Its composition includes individuals who hold dual roles within the National Olympic Committee (NOC), raising serious questions of conflict of interest.

By participating in this politically influenced process, the NOC Chief has compromised the neutrality of the NOC and undermined the credibility of its governance ethics.

Composition of Working Task Force and Election Committee

While some of these members are respected individuals, the entire appointment process lacks independence, having been made outside the constitutional framework of SLR, thereby invalidating the legitimacy of all proceedings conducted under their supervision.

Biased and non-transparent election process

The Election Committee appointed by the WTF has acted with clear bias and procedural inconsistency:

All nominations were accepted except those of Pradeep Bassanayake and S.W. Chang, both rejected without explanation.

The remaining nominations were approved, paving the way for an illegal Annual General Meeting (AGM).

Irrational and discriminatory eligibility criteria

Irrational and discriminatory criteria have been inserted into the election framework, restricting eligibility to individuals from a narrow range of professions. These arbitrary conditions exclude capable, experienced rugby administrators and professionals from contesting or holding office in key positions, solely because they do not belong to certain professional categories.

This completely irrational restriction has no place in a democratic sporting body and represents yet another deliberate effort to manipulate representation and control the governance of the sport.

Violation of Article 28.2 and 28.6

The illegal Constitution being used for this election contains critical eligibility provisions that are being completely ignored.

Article 28.2 mandates that any council member who loses their position in their club automatically loses their seat in SLR.

Article 28.6 requires that any nominee for President must have served as an Office-Bearer or Committee Member for at least one term within the preceding five (5) years.

None of the current nominees qualify under these provisions, rendering the entire nomination process unconstitutional and unlawful.

Furthermore, it is deeply alarming that all participating clubs, Forces teams, and other stakeholders at this illegal AGM have proceeded blindly with nominations, proposing and seconding candidates without reading or understanding Article 28.6. This demonstrates not only a complete lack of awareness but also the extent of political manoeuvring and manipulation that has overtaken the process.

The Working Task Force, the Election Committee, have failed in their duty to uphold transparency and constitutional integrity, thereby making this entire process legally and ethically void.

Timeline of suspension threats and extensions

17 May 2023 – Sri Lanka Rugby is officially suspended by World Rugby

10 November 2023 – Conditional reinstatement granted, tied to constitutional reform and proper elections

8 Dec 2024 31Jan 2025 – First extension granted to complete reforms

31 Jan 2025 – Deadline missed; AGM delayed, court cases filed

12 May 2025 – WR letter issued warning suspension by 23 May 2025

15 June 2025 – Deadline extended again; suspension postponed

June 2025 – Grace period lapses; no sanction implemented

August 2025 – Elections scrapped and reset, causing further delay

8 Oct 2025 – AGM deadline; suspension effective

9 Oct 2025, overlapping with the Asia Rugby Sevens Colombo leg (18-19 Oct 2025)

Gamer.LK, Sri Lanka’s premier Video Games and Esports company, was recognised once again at the SLIM Digis 2.5 Awards, winning the Gold Award in the Gaming, Gamification and Esports category at the 2025 edition.

The Gold Award was presented for the campaign ‘NDB Avurudu Dupatha’, produced by Gamer.LK for National Development Bank PLC (NDB). Presented under the Gaming, Gamification and Esports category, which honours campaigns that leverage gamified experiences and the wider gaming ecosystem, the accolade highlights how Gamer.LK successfully engaged a hard-to-reach digital audience through interactive gaming content. Joining the campaign, Manitha ‘Maniya’ Abeysiriwardena, Sadun ‘Gaming Sadu’ Dilakshan and 16 other streamers from Gamer.LK’s streamer network live-streamed the story-based campaign to their audiences. By tapping into authentic gaming culture and delivering measurable engagement for the brand, the ‘NDB Avurudu Dupatha’ set a benchmark for how video games and gamification can be effectively integrated into mainstream marketing.

Gamer.LK also conceptualised and executed the campaign ‘Clean Up Mr. Claws’ for CLEAR by Unilever Sri Lanka., which received a Merit Award at this year’s SLIM DIGIS. The campaign transformed the usual 30-second cinema advertisement sit-through into a gamified experience, allowing audiences to interact with the content rather than passively watch. By merging entertainment with brand messaging, the activation created a unique connection with movie-goers, leaving a lasting impression while delivering tangible engagement results.

The SLIM DIGIS Awards are organised annually by the Sri Lanka Institute of Marketing (SLIM) and celebrate excellence in digital marketing by recognising the most innovative and effective campaigns across industries.

Gamer.LK Founder and InGame Esports CEO Raveen Wijayatilake said: ‘These awards once again demonstrate the strength of Gaming and Esports as a credible and effective marketing channel in Sri Lanka. Over the past decade, Gamer.LK has grown into an international Esports and video gaming agency, executing campaigns across multiple regions of the world. While our global footprint continues to expand, it is especially rewarding to partner with leading Sri Lankan brands and be recognised for the work in our home market.’

With these wins, Gamer.LK said it continues to reinforce its position as a pioneer in Gaming, Gamification and Esports-driven marketing. Over the years, the agency has been recognised at the SLIM DIGIS with multiple Awards, including the coveted Grand Prix Gold Award, further underscoring its track record of delivering impactful, innovative campaigns that connect brands with audiences in meaningful ways.

Loyalty and rewards management platform CH17 Loyalty, has announced its partnership with menswear brand – Signature. CH17 Loyalty CEO Jumar Preena said this collaboration marks yet another step forward in CH17’s mission to deliver unmatched privileges and lifestyle experiences to its growing base of discerning members.

CH17 Loyalty is built on the principle of understanding customer behaviour and aligning rewards with real needs. Menswear remains a high-demand category within Sri Lanka’s retail landscape, particularly among young professionals, executives, and the aspirational middle class.

By bringing Signature into its partner network, CH17 directly addresses this demand, offering its cardholders access to premium menswear at the right price point. The partnership ensures that CH17’s members enjoy value without compromise-with Signature’s reputation for impeccable tailoring, contemporary designs, and durability reinforcing that promise.

Signature has become synonymous with affordability with quality and is the go-to choice for the busy corporate executive who requires style and comfort at the best price. Beyond the corporate office environment, the brand has also earned recognition in the sports arena with the endorsement of Sri Lanka’s Cricket’s both men and women national teams, who look elegant and smart on Signature smart casual wear. Beyond cricket the brand also has a stake in rugby and hockey.

This unique positioning-bridging professional wear with lifestyle apparel-aligns perfectly with CH17’s philosophy of rewarding loyalty with brands that inspire trust and admiration.

This collaboration between Signature and CH17 Loyalty is not just about discounts-it’s about creating an aspirational lifestyle ecosystem where loyalty is rewarded with brands that matter. By weaving together consumer insights, retail value, and digital innovation, CH17 continues to lead the loyalty and rewards space in Sri Lanka, added Preena.

FitsAir, Sri Lanka’s first privately-owned international airline, celebrated three years of international scheduled passenger operations, marking another defining moment in its journey to transform air travel for Sri Lankans.

The past year has been one of exceptional growth and achievements for the airline.

FitsAir successfully launched Kuala Lumpur as a new destination on its network, expanded frequencies to Malé and Dhaka in response to strong demand, and most recently secured approvals to undertake its own ground handling operations at Colombo’s Bandaranaike International Airport.

FitsAir Director Ammar Kassim said: ‘FitsAir’s growth story is one of resilience, and bold vision. As we celebrate three years of passenger operations, we’re entering a new phase of growth, expanding our network, strengthening our operations, and investing in our people and systems.’

‘Our focus remains the same: to build a modern, efficient, and proudly Sri Lankan airline that makes regional travel simpler and more affordable,’ he added.

To mark this milestone, FitsAir has introduced a limited-time anniversary promotion, offering attractive fares from Colombo to Dubai, Kuala Lumpur, Malé, and Dhaka, with a generous baggage allowance of 20kg checked baggage and 7kg hand baggage.

The special fares are available for a limited period.

In a statement the company said that as the airline enters its fourth year of passenger operations, FitsAir remains focused on expanding its network, enhancing customer experience, and innovating across its operations. Built on a strong foundation of reliability and a deep commitment to affordability, FitsAir said it continues to carry the spirit of Sri Lanka across regional skies as the nation’s proud ‘Friend in the Skies.’