Category: Daily Financial Times

Insurance Regulatory Commission of Sri Lanka said the industry demonstrated resilience during the first quarter of 2026, recording steady performance despite the prevailing macroeconomic conditions and the impact of Cyclone Ditwah, which affected several provinces across the country in late 2025.

The industry’s performance should also be viewed in the context of the cumulative effects of challenges, including the COVID-19 pandemic, the 2022 economic crisis and political instability, high inflation, currency depreciation, and recurring climate-related events such as floods and droughts, which have continued to influence the operating environment of the insurance sector.

During the review period, the insurance industry continued to provide financial protection to policyholders through the settlement of valid insurance claims, including claims arising from Cyclone Ditwah. The Insurance Regulatory Commission of Sri Lanka (IRCSL) continued to monitor the industry’s operations to promote the fair and efficient handling of insurance claims and to safeguard the interests of policyholders.

The insurance industry recorded steady growth in Gross Written Premiums (GWP) during the first quarter of 2026 compared with the corresponding period of 2025, reflecting the sector’s continued resilience and its ability to operate effectively despite the prevailing economic and environmental challenges.

As at 31 March 2026, fifteen (15) insurance companies were licensed to conduct Long-Term (Life) Insurance business, while fourteen (14) companies were licensed to conduct General Insurance business in Sri Lanka.

Gross Written Premium (GWP)

Chart 1 presents the performance of the insurance industry during the first quarter of 2026 compared to the corresponding period of 2025.

Total Gross Written Premium (GWP) increased from Rs. 92,229 million in 1Q 2025 to Rs. 114,863 million in 1Q 2026, representing a growth of 24.54%.

The Long-Term (Life) Insurance sector recorded Gross Written Premium of Rs. 63,888 million in 1Q 2026, compared to Rs. 51,056 million in 1Q 2025, reflecting a growth of 25.13%. This performance contributed significantly to the overall growth of the insurance industry during the review period.

The General Insurance sector also recorded positive growth, with Gross Written Premium increasing from Rs. 41,172 million in 1Q 2025 to Rs. 50,975 million in 1Q 2026, representing a growth of 23.81%. This growth reflects the continued expansion of General Insurance business during the review period.

Total assets

Chart 2 presents the total assets of the insurance industry as at 31 March 2026 compared to the corresponding period in 2025.

The insurance industry’s total assets increased from Rs. 1,267,683 million in 1Q 2025 to Rs. 1,478,777 million in 1Q 2026, representing an overall growth of 16.65%.

The Long-Term (Life) Insurance sector recorded total assets of Rs. 1,088,527 million as at 31 March 2026, compared to Rs. 954,713 million as at 31 March 2025, reflecting a growth of 14.02%. The Life Insurance sector continued to account for the largest share of the industry’s total assets.

The General Insurance sector recorded total assets of Rs. 378,340 million as at 31 March 2026, compared to Rs. 300,506 million as at 31 March 2025, representing a growth of 25.90%.

Meanwhile, the Reinsurance sector recorded total assets of Rs. 11,910 million as at 31 March 2026, compared to Rs. 12,464 million in the corresponding period of 2025, representing a decrease of 4.45%.

The increase in total assets reflects the continued growth of the insurance industry during the review period.

Claims incurred by insurance companies

Chart 3 presents a comparison of claims incurred by insurance companies during the first quarter of 2026 and the corresponding period of 2025.

Total claims incurred increased from Rs. 38,353 million in 1Q 2025 to Rs. 45,977 million in 1Q 2026, representing a growth of 19.88%. The increase reflects the insurance industry’s continued fulfilment of its obligations to policyholders through the settlement of insured claims.

The Long-Term (Life) Insurance sector recorded claims incurred of Rs. 28,051 million in 1Q 2026, compared to Rs. 23,178 million in 1Q 2025, reflecting a growth of 21.03%. The increase in claims is broadly in line with the continued growth of the Life Insurance business during the review period.

The General Insurance sector recorded claims incurred of Rs. 17,926 million in 1Q 2026, compared to Rs. 15,175 million in 1Q 2025, representing a growth of 18.13%. The increase in claims includes settlements arising from insured events during the period, including those associated with Cyclone Ditwah, together with the overall growth of General Insurance business.

Overall, the increase in claims incurred across both sectors demonstrates the insurance industry’s continued commitment to providing financial protection and meeting its contractual obligations to policyholders.

Profit Before Tax of insurance companies

Chart 4 presents the Profit Before Tax (PBT) of the insurance industry for the first quarter of 2026 in comparison to the corresponding period of 2025.

The insurance industry recorded a total Profit Before Tax (PBT) of Rs. 9,978 million during the first quarter of 2026, reflecting a growth of 3.14% compared to Rs. 9,674 million recorded during the corresponding period of 2025.

The Long-Term (Life) Insurance business recorded a PBT of Rs. 4,390 million in 1Q 2026, reflecting a decline of 11.51% from Rs. 4,961 million recorded during 1Q 2025.

In contrast, the General Insurance business recorded a PBT of Rs. 7,215 million during 1Q 2026, reflecting an increase of 28.13% from Rs. 5,631 million recorded during 1Q 2025.

Overall, the insurance industry remained profitable during the review period, although profitability trends differed between the Long-Term (Life) and General Insurance sectors.

Investment in Government debt securities

As at the end of the first quarter of 2026, total investments in Government debt securities amounted to Rs. 668,786 million, reflecting an overall increase of 9.45% compared to Rs. 611,017 million recorded in 1Q 2025.

Investments by the Long-Term Insurance Business in Government Debt Securities amounted to Rs. 556,766 million (1Q 2025: Rs. 499,695 million), representing 56.25% of its total investments and indicating a growth of 11.42%. Meanwhile, the General Insurance Business invested Rs. 112,020 million in Government debt securities (1Q 2025: Rs. 111,322 million), accounting for 53.52% of its total investments and showing a growth of 0.63%.

The increase in Government debt securities investments was primarily driven by the Long-Term Insurance Business, which recorded the highest growth during the period. Government Debt Securities continued to remain a significant component of insurers’ investment portfolios, reflecting the sector’s preference for relatively stable and secure investment instruments to support long-term financial obligations and investment management requirements

Outside of those directly engaged in the science, climate change has typically been spoken of in the future tense – as mitigation against risks still appears to be over the horizon. Yet after Cyclone Ditwah became our nation’s deadliest and most economically devastating weather event in living memory, it’s now clear that mitigation can no longer be our first priority.

More than 640 lives were lost, with an estimated 10% of the population impacted across every district. Sri Lanka was not alone. In 2025, the world absorbed $ 55 billion in weather-related disasters in what meteorologists dubbed a ‘year of monsters’. Simultaneously, the planet endured the sixth deadliest heatwave on record. In Asia alone, approximately one billion people live under the constant threat of extreme heat stress.

Sri Lanka’s own projections suggest that days exceeding 35°C could rise from around 20 per year to over 100 by the 2090s. Heat islands are forming across cities and industrial zones. Shifting rainfall is disrupting agriculture, threatening yields and livelihoods that ripple through supply chains and entire communities. This new reality demands a fundamental shift in how governments, enterprises, and communities respond.

Systematic shifts: Moving from reactive to proactive

Sri Lanka’s manufacturing sector has absorbed an estimated $ 2 million per month in additional fuel and energy costs since Ditwah, rather than passing them to global buyers. That approach cannot be sustained indefinitely.

Generic assumptions about climate risk no longer hold. Impacts vary sharply by geography, sector, and supply chain structure – a facility in the Western Province faces different vulnerabilities than one on the Southern coast or in the Hill Country. A formal, location-specific climate risk assessment is now a baseline requirement, not a best practice.

MAS Holdings began conducting location-specific climate risk surveys across its operations before Ditwah arrived, grounded in a straightforward recognition: climate impacts don’t show up the same way at every facility, and planning as though they do leaves gaps that events eventually find. For organisations with existing assessments, the bar has shifted. Climate change is intensifying faster than earlier models projected, and plans calibrated to older baselines will underestimate what is coming.

Adaptation cannot stop at the factory door

If workers cannot safely reach the workplace – because the road is flooded, their home destroyed, or their family in crisis – operations break down regardless of how well-prepared the facility is. The communities workers return to each night are part of the business continuity equation.

Every enterprise should be asking: How flood-prone are the areas where our workforce lives? Are their neighbourhoods resilient enough for operations to resume after an extreme weather event? At MAS, sustainability and climate adaptation are embedded into core business strategy – not as a reporting function, but integrated into how the organisation thinks about people, place, and long-term operational health. Global partners and investors are no longer asking only for emissions figures. They want to understand how organisations are responding to physical climate realities on the ground.

Government has a central role in adaptation, but waiting on public systems alone is itself a business continuity risk. Family-owned and purpose-driven enterprises, particularly those rooted in the Global South, have a structural advantage: they are not primarily governed by quarterly incentive structures, and can justify long-horizon investments through values and necessity – a combination publicly listed companies often struggle to articulate to shareholders. The old framing of profit first, then people, then planet if resources remain, no longer functions in a climate-disrupted economy.

Inclusive climate planning: Women and vulnerable groups at the centre

Climate change is not a great equaliser. It compounds existing inequalities. In Sri Lanka, women bear a disproportionate share of climate impacts while having the least say in the decisions that shape the response (UN Women Country Gender Equality Profile, 2026). The sectors most exposed – agriculture, fisheries, tea plantations, and informal labour – are also those where women make up significant parts of the workforce. Tea production alone is projected to decline 12% by 2050, and it is plantation workers, predominantly women, who will absorb the steepest consequences.

Safety is an adaptation variable. In crisis situations, women face heightened risks of gender-based violence and loss of safety in communal spaces. Infrastructure cannot be designed without accounting for who is actually safe using it. The answer is structural inclusion – women in affected communities understand what is needed, often better than external planners. When organisations in early stages of adaptation share their risk assessments, safety lessons, and community investments, they give communities the knowledge to identify what they actually need rather than receiving what organisations assume they need. That is adaptation work in its own right.

The work that remains

Generic assumptions do not protect businesses or the people working in them. Every enterprise must conduct climate risk assessments specific to their operations and geographies, then move from reactive to proactive – because knee-jerk responses after disasters cost more and deliver less than preparation put in place before the event. The first question any business should sit with is whether the world is better because of what it does, and whether the harm it causes can be reduced. That is the honest first step.

The next extreme weather event is already forming somewhere. What matters is taking the first step – whether that means reviewing your risk exposure, sitting with communities to understand what they need, or revisiting plans built for a climate that no longer exists.

The organisations that will endure are those that treat people, not just profit, as the foundation of their purpose. That is what embeds long-term resilience into strategy – not as a commitment on a slide, but as something felt in the decisions taken at every level of an organisation.

Being prepared is not the same as being safe. But it is where we must begin.

For the first time in Sri Lanka, one lucky winner will have the opportunity to own an authentic 2026 Argentina jersey personally signed by football icon Lionel Messi, an invaluable collector’s item that captures the legacy of a player celebrated by millions around the world as The GOAT.

As excitement builds around the football World Cup 2026, Ritzbury Roccoa gives fans the chance to win far more than a signed jersey. Widely expected to coincide with Lionel Messi’s final FIFA World Cup appearance, the authentic Argentina jersey represents a defining moment in football history. A rare collector’s item today, its historical significance and value are expected to grow for generations, making it a truly once-in-a-lifetime prize.

The promotion, valid until 20 August 2026, invites fans to purchase any Ritzbury Roccoa chocolate, scan the QR code or follow the instructions provided on Roccoa’s social media pages to access the competition website. Fans can enter as many times as they wish, with each Ritzbury Roccoa chocolate counting as one entry.

CBL Foods International Ltd. General Manager Marketing Niluksha Bastianz said, “Football has an incredible ability to bring people together and create unforgettable moments for fans around the world. At Ritzbury, we are always looking for meaningful ways to connect with our customers and create exciting experiences that they can cherish. As anticipation builds around the FIFA World Cup 2026, this promotion gives Sri Lankan football fans the opportunity to be part of a truly memorable experience and own a special piece of football history.”

Adding even more excitement to the campaign, Ritzbury Roccoa will also offer participants the opportunity to win an authentic Portugal jersey signed by Cristiano Ronaldo, another icon of world football. In addition, the promotion features 300 giveaway prizes, with 10 winners selected each day over a period of 30 days to receive exclusive customised jerseys, giving even more football fans the chance to take home a special memento.

Commenting on the initiative, Football Federation of Sri Lanka (FFSL) President Jaswar Umar said: “Bringing an opportunity of this calibre to Sri Lanka for the first time is a significant milestone for the local football community. Football is experiencing tremendous growth both globally and locally, and experiences such as this help bring the game even closer to fans while creating greater enthusiasm around the sport. We welcome opportunities that celebrate football in new and engaging ways, inspire the next generation of players and supporters, and contribute to the continued growth of the football community in Sri Lanka.”

With two of the world’s greatest football legends at the heart of the campaign, Ritzbury Roccoa invites consumers across the country to join the excitement, enjoy their favourite chocolate, and stand a chance to own what could become one of the most valuable and coveted pieces of football memorabilia ever offered in Sri Lanka, a once-in-a-lifetime opportunity to take home a lasting piece of football history.

The Data Privacy and Protection Summit, organised by the Daily FT and CICRA, has announced Mastercard as its Title Partner for 2026.

The partnership underscores Mastercard’s commitment to advancing conversations around data privacy, security, and trust, while reinforcing the Summit’s role as a leading platform for dialogue on data protection, compliance, and emerging regulatory frameworks.

Mastercard, a global leader in payments technology and a trusted partner in advancing Sri Lanka’s digital economy, served as the Strategic Partner for the inaugural edition of the Summit in 2025. Its elevation to Title Partner reflects a deepened commitment to supporting Sri Lankan organisations as they navigate an increasingly complex data protection and privacy landscape.

The announcement comes at a pivotal moment as the country moves towards the full enforcement of the Personal Data Protection Act (PDPA), placing data governance, compliance, and trust at the forefront of organisational priorities across sectors.

The Data Privacy and Protection Summit, Sri Lanka’s premier platform for data protection leadership, will return for its second edition on 23 July at the Oak Room, Cinnamon Grand Colombo. Bringing together data protection professionals, legal and compliance experts, technology leaders, regulators, and policymakers, the Summit is set to be the country’s foremost forum for shaping the future of privacy, security, and responsible data governance.

As organisations navigate an increasingly complex threat landscape, accelerate Artificial Intelligence (AI) adoption, and prepare for the full enforcement of Sri Lanka’s PDPA, the Summit will provide a critical platform for dialogue, knowledge sharing, and practical guidance. Through a series of expert-led discussions and deep-dive sessions, attendees will gain actionable insights and strategies to strengthen governance frameworks, manage emerging risks, and build resilient, PDPA-ready organisations.

Attendees can look forward to a carefully curated agenda that addresses the most pressing opportunities and challenges in data protection today, including:

‘Sleeping Data, Living Risks: Protecting What Your Organisation Stores in the Dark’ – This session will explore the hidden dangers of unstructured and forgotten data. As organisations accumulate vast amounts of information across cloud and on-premises environments, much of it lies dormant yet vulnerable. Experts will discuss how to discover, classify, and secure this ‘sleeping data’ before it becomes a living risk.

‘Before the Breach: Why a Data Protection Impact Assessment (DPIA) Saves You from Disaster’ – Prevention is always better than cure. This session will delve into the critical role of DPIA in identifying and mitigating privacy risks before they materialise into costly breaches. Attendees will learn how to embed DPIA into their project lifecycles to ensure compliance and build stakeholder trust.

‘Protecting Your Crown Jewels – AI is Breaking Data Security and Fixing It?’ – A deep dive into the dual-edged nature of AI in data security. This session will examine how cybercriminals are leveraging AI to launch sophisticated attacks, while simultaneously exploring how AI-driven defence mechanisms can autonomously detect, respond to, and neutralise threats to an organisation’s most critical assets.

‘Fulfilling Data Subject Requests: A Company’s Legal Obligation and Operational Challenge Under PDPA’ – With the PDPA enforcement imminent, organisations must be prepared to handle Data Subject Requests (DSRs) efficiently and within mandated timelines. This session will break down the legal requirements, operational complexities, and best practices for managing DSRs without disrupting business operations.

CICRA Group Executive Director and CEO Boshan Dayaratne expressed his profound appreciation for Mastercard’s continued trust and elevated commitment to the Summit and its mission.

‘We are incredibly proud and grateful to welcome Mastercard as our Title Partner for 2026,’ he said. ‘Their belief in CICRA and the Daily FT, and our shared vision for promoting and advocating robust data protection in Sri Lanka, is a powerful endorsement of our work. Mastercard’s decision to step up as the Title Partner is a great strength and support that will enable us to take this event to the next level, providing even greater value to all participants and stakeholders as we collectively work towards a more secure and compliant digital future for Sri Lanka.’

Mastercard Country Manager – Sri Lanka Mahesha Amarasuriya said: ‘Mastercard is delighted to deepen its association with the Data Privacy and Protection Summit as Title Partner and to collaborate with CICRA and the Daily FT in advancing Sri Lanka’s data protection agenda. In an increasingly digital world, trust is both a competitive advantage and a societal imperative, and robust data protection is fundamental to building and sustaining that trust. As Sri Lanka progresses towards the implementation of the PDPA, organisations have a unique opportunity to embed privacy, security, and accountability into their business strategies. Through this association, Mastercard remains committed to fostering informed dialogue, sharing global expertise, and supporting the development of a resilient and trusted digital ecosystem that enables businesses and citizens to thrive with confidence.’

Both Government institutions and private sector organisations have a shared responsibility in protecting citizen and customer data. With PDPA enforcement imminent, public sector data controllers and private enterprises alike must act now to avoid penalties, reputational damage, and security breaches. The Summit offers a unique opportunity to learn from global leaders, understand regulatory obligations, and build a proactive defence strategy.

Registration is now open, with limited seats available. Data protection officers, cybersecurity professionals, Government officials, legal and compliance practitioners, and business leaders are encouraged to register early. Visit www.cicrasummit.lk to register and secure your participation at this premier event or call the Summit Secretariat: 0710 600 800.

Six Tamil-speaking political parties yesterday jointly urged President Anura Kumara Dissanayake to immediately resume the constitutional reform process, hold the long-delayed Provincial Council (PC) Elections, and implement the National People’s Power (NPP)-Janatha Vimukthi Peramuna (JVP)-led Hatton Declaration by distributing abandoned plantation lands to estate workers for housing and livelihoods.

The call came as the parties formally launched a common political platform aimed at collectively voicing issues affecting Tamil-speaking communities while retaining their individual political identities.

Tamil Progressive Alliance (TPA) Leader Mano Ganesan said the initiative was not about creating another political alliance, but about working together to advance power-sharing, democratic governance, and equal rights.

‘We are here to discuss ways and means of becoming more and more Sri Lankan with substantial power-sharing and equitable sharing of resources. We urge President Anura Kumara Dissanayake to recommence the constitutional process, as he personally and officially promised. We discussed this with him and he agreed to continue from where the process had been suspended. We now urge him to do so without delay,’ Ganesan said.

Referring to the long-overdue PC Elections, Ganesan, who is a member of the Parliamentary Select Committee on electoral reforms, said they were dissatisfied with the continued postponement of the provincial polls despite repeated assurances by the Government.

He also called on the Government to resolve longstanding land disputes affecting Tamil-speaking communities, including those involving State institutions such as the military, the Mahaweli Authority, and the Department of Archaeology.

‘We urge the Government to implement the NPP-JVP’s Hatton Declaration by releasing abandoned and uncultivated plantation lands to estate workers,’ he stressed.

The newly established platform brings together the Ilankai Tamil Arasu Kachchi (ITAK), Sri Lanka Muslim Congress (SLMC), TPA, All Ceylon Makkal Congress (ACMC), Democratic Tamil National Alliance (DTNA), and the Ceylon Workers’ Congress (CWC).

Leaders of these political parties told the media briefing held in Colombo yesterday that the parties had agreed to work collectively on issues of common concern while maintaining the freedom to pursue their own political stances on different issues.

They have identified three immediate priorities: Constitutional reform with meaningful power-sharing; the conduct of PC Elections without further delay; and the resolution of land issues affecting Tamil, Muslim, and Malaiyaha Tamil communities.

ITAK General Secretary M.A. Sumanthiran, describing the initiative as a historic milestone, said that it was the first time in decades that political representatives of the Northern, Eastern, Malaiyaha Tamil, and Muslim communities had established a collective political network to voice on agreed issues pertaining to Tamil-speaking communities.

‘This is a platform where Tamil-speaking parties can raise a common voice on issues that affect us all. It is not an alliance. Each party remains free to hold its own political views, but where there is common ground, we will work together because a united voice carries greater strength,’ he said.

Stressing that there should be no further postponement of PC Elections, which had originally been promised within a year of the Government assuming office, Sumanthiran said the Government’s own election manifesto had pledged to introduce a new Constitution.

‘Historically, Tamil-speaking communities have worked together when fundamental issues affecting them arose. This platform revives that spirit of cooperation,’ he explained.

SLMC Leader Rauff Hakeem stressed that the initiative should not be viewed as a communal or anti-majority political move.

‘Our coming together should never be interpreted as an effort directed against any community. Every party represented here is fully committed to Sri Lanka’s sovereignty, territorial integrity, democracy, human rights, and the rule of law. This platform exists to discuss issues where we share common interests and to advocate collectively on behalf of the communities we represent,’ he said.

Hakeem also clarified that the new political platform was neither aligned with the Opposition nor opposed to the Government, but intended to function as an independent forum to discuss issues affecting Tamil-speaking people.

According to CWC General Secretary and MP Jeevan Thondaman, the initiative is a long-felt need of Tamil-speaking communities.

‘People have wanted to see unity among Tamil-speaking political parties for many years. This is not about political bargaining or deciding which party gains the most. It is about speaking with one voice on issues where common action can bring equitable results,’ he said, adding that all Tamil-speaking people are Sri Lankans.

Thondaman said although all communities proudly identified themselves as Sri Lankans, longstanding shortcomings relating to land rights, resource allocation, and development continued to disproportionately affect Tamil-speaking communities and required coordinated political engagement.

Coordinator of the six-party initiative and ITAK MP Shanakiyan Rasamanickam also describing the new platform as a historic moment in Sri Lanka’s political history said that after many decades, Tamil-speaking political parties had agreed to work together on matters of common concern relating to Tamil-speaking people.

The representatives reaffirmed their commitment to continued dialogue through this platform and expressed hope that a common approach on these issues would contribute to reconciliation, democratic governance, and the protection of the rights of all communities in Sri Lanka.

Alliance Finance Company PLC has broadened the use of proceeds under its Green Bond Framework, allowing up to 30% of Green Bond proceeds to be deployed towards refinancing eligible rooftop solar projects in a move aimed at improving capital deployment while maintaining compliance with international green finance standards.

In a disclosure to the Colombo Stock Exchange (CSE), the company said the amended framework retains its existing eligible investment categories of rooftop solar energy generation facilities and solar equipment vendors and suppliers, while introducing a two-year look-back period for refinancing qualifying projects.

Under the revised framework, Alliance Finance may refinance existing rooftop solar projects that were previously financed by the company, provided they were approved for financing and commissioned within two years of being earmarked for funding from Green Bond proceeds. The refinancing component is capped at 30% of total Green Bond proceeds.

The company said all refinanced projects must continue to satisfy the eligibility criteria under its Green Bond Framework and demonstrate meaningful environmental impact at the time they are allocated Green Bond funding.

Alliance Finance also said any unutilised allocation under the existing category for solar equipment vendors and suppliers may be redirected towards eligible rooftop solar financing under the amended framework, providing greater flexibility in deploying Green Bond proceeds.

The lender said the amendments were introduced to facilitate the efficient deployment of Green Bond proceeds while continuing to align with the company’s sustainability objectives and the principles underpinning its Green Bond Framework.

The revised framework has been independently reviewed by Deloitte Partners, which confirmed its alignment with the International Capital Market Association’s (ICMA) Green Bond Principles issued in June 2025. Alliance Finance said it has also obtained an external assurance report covering the amendments.

The company reaffirmed its commitment to ensuring that all Green Bond proceeds are utilised strictly in accordance with the amended framework and applicable regulatory requirements.

Alliance Finance’s Green Bond marked a milestone for Sri Lanka’s sustainable finance market when it became the country’s first Green Bond issued by a non-banking financial institution (NBFI).

Launched in February 2025, the Rs. 1 billion issuance was initially listed on the CSE before becoming the first Sri Lankan NBFI Green Bond to secure a dual listing on the Luxembourg Stock Exchange and inclusion on the Luxembourg Green Exchange.

The proceeds were initially dedicated to financing renewable energy projects, primarily rooftop solar, in line with Sri Lanka’s target of generating 70% of its electricity from renewable sources by 2030 and achieving carbon neutrality by 2050.

The Alumni Association of the University of Colombo will launch its Global Hybrid Alumni Knowledge-Sharing Seminar Series with an inaugural session on 21 July at the Senate Hall, College House, University of Colombo, with simultaneous online participation by overseas alumni.

Held under the theme ‘Technology and Innovation, Trade and Economics, and Law and Governance: Navigating Global Transformation in the Digital Age,’ the inaugural seminar marks the beginning of a new initiative to strengthen engagement among the University’s global alumni while creating a platform for knowledge sharing, professional networking, and collaboration.

The first session, focusing on the Asia-Pacific region, will bring together eminent University of Colombo alumni from Australia, Japan, and Sri Lanka to discuss contemporary global challenges and opportunities through the interconnected perspectives of technology, economics, trade, law, and governance.

The distinguished panel of speakers comprises eminent University of Colombo alumni: Prof. Anuja Dharmaratne (Monash University, Australia), CodeGen International Senior Scientist – Research and Innovation Dr. Yasun Kannangara, World Bank Lead Economist Dr. Harsha Aturupane, International University of Japan Professor of Economics Prof. N.S. Cooray, University of Colombo Faculty of Law Dean Prof. Sampath Punchihewa, and Dr. Darshana Sumanadasa (Curtin University, Australia).

The panel discussion will be moderated by Daily FT Editor Nisthar Cassim together with University of Colombo Alumni Association Global Alumni Network Initiative Chairman Dr. Malraj Kiriella.

The Chief Guest at the inaugural seminar will be University of Colombo Vice Chancellor Prof. Indika Karunathilake.

University of Colombo Alumni Association President J.M.S. Bandara said: ‘For more than a century, the University of Colombo has produced leaders, academics, professionals, entrepreneurs, and public servants who continue to make significant contributions in Sri Lanka and across the world. The Alumni Association is committed to strengthening these lifelong bonds by creating opportunities for our alumni to reconnect, exchange ideas, and contribute their expertise. This Global Hybrid Alumni Knowledge-Sharing Seminar Series reflects our vision of harnessing the collective strength of our global alumni community in support of the University, national development, and international collaboration.’

University of Colombo Alumni Association Immediate Past President Rajeev Amarasuriya said: ‘In today’s interconnected world, alumni engagement should extend well beyond maintaining personal connections. It should create opportunities for collaboration, mentorship, innovation, and thought leadership. By bringing together distinguished University of Colombo alumni from diverse disciplines and different parts of the world, this initiative establishes a sustainable platform that will strengthen our global alumni network while generating ideas, partnerships, and lasting value for the University and the country.’

Dr. Kiriella, who led the development of the initiative, said: ‘The Global Hybrid Alumni Knowledge-Sharing Seminar Series has been conceived as a platform to connect University of Colombo alumni across geographical boundaries through knowledge sharing, professional networking, and interdisciplinary collaboration. The response to the inaugural seminar has been extremely encouraging, with physical participation reaching full capacity well ahead of the event through prior registrations, while online registrations from overseas participants continue to grow. This enthusiastic response demonstrates the strong commitment of our global alumni community to reconnect with their alma mater and contribute to a meaningful exchange of knowledge and experience. We envisage this as the first of many initiatives that will further strengthen the University’s global alumni network and foster enduring collaboration across countries and disciplines.’

Daily FT is the Print Media Partner for the inaugural Global Hybrid Alumni Knowledge-Sharing Seminar Series.

SLT-MOBITEL, has launched the exciting ‘Road to LPL’ countrywide roadshow in celebration of the Lanka Premier League (LPL) 2026, with SLT-MOBITEL PEOTV serving as the tournament’s Official Media and Broadcast Partner.

Organised by SLT-MOBITEL in collaboration with the IPG Group and Sri Lanka Cricket, the ‘Road to LPL’ initiative featured an official promotional truck travelling across key franchise locations, including Galle, Kandy, Jaffna, Colombo, and Dambulla, as well as other major cities throughout the country. The program emphasised SLT-MOBITEL’s commitment to boosting national pride, brand visibility, employee engagement, and fan connectivity.

The roadshow officially commenced in Galle on 10 July 2026, marking the beginning of a nationwide promotional campaign designed to bring the excitement and energy of the Lanka Premier League closer to cricket fans and communities across Sri Lanka.

Through this initiative, SLT-MOBITEL created opportunities for cricket fans to engage directly with the tournament, its teams, and LPL players while enjoying a range of entertaining, cricket-themed experiences. This gave fans the opportunity to experience the thrill of the Lanka Premier League first-hand through interactive activities, including Spin the Wheel, VR Cricket Challenge, Scream for the Team, and Gully Cricket. Fans were also able to show their support and cheer for their favourite teams by placing their signatures on the LPL Canvas, while also having the opportunity to win exciting giveaways and LPL match tickets. Adding to the excitement, players representing the five LPL teams from Galle, Kandy, Jaffna, Colombo, and Dambulla joined the roadshow, inspiring fans with their presence and passion for the game.

The roadshow arrived at the SLT Headquarters in Colombo on 13 July 2026, bringing the electrifying atmosphere of Sri Lanka’s premier domestic cricket tournament directly to SLT-MOBITEL employees and the general public. The event offered employees the opportunity to enjoy the same exciting roadshow experience, marking a significant milestone in the countrywide campaign. The Colombo activation exclusively featured the unveiling of the LPL trophy, along with an unforgettable series of cricket-themed activities. Participants were also given the opportunity to place their valuable signatures on the LPL Canvas and meet LPL team captains. The activation created memorable experiences while generating greater awareness and visibility for both SLT-MOBITEL and the Lanka Premier League.

The celebrations will culminate in a spectacular LPL Drone Show on 17 July 2026, symbolising the powerful fusion of sport, technology, entertainment, and innovation. The tournament will continue until 8 August 2026. Cricket fans across Sri Lanka will be able to watch the full tournament LIVE through SLT-MOBITEL PEOTV platforms, including PEOTV and PEO MOBILE, as well as other digital platforms. Matches will be broadcast in true HD quality, providing viewers with crystal-clear visuals and an immersive viewing experience.

Beyond bringing the excitement of the LPL to employees and fans, SLT-MOBITEL’s ‘Road to LPL’ roadshow also represented a celebration of cricket’s power to unite communities, offering fans an opportunity to experience the game in new and engaging ways.

SLT-MOBITEL’s partnership with the Lanka Premier League reflects the Group’s commitment to strengthening fan engagement through a shared passion for cricket. It also demonstrates how sport and technology can work together to connect communities and inspire the nation.

University Grants Commission (UGC) former Chairman and University of Sri Jayewardenepura former Vice Chancellor Professor Sampath Amaratunge has been invited to serve as an ‘Academic Guardian of Olympic Values’ under the international Ethos Universitas framework and has subsequently received his official Certificate of Appointment. Professor Amaratunge, a distinguished Sri Lankan academic, presently serves as Deputy President and Deputy CEO of CINEC Campus, a leading non-State higher education institution in Sri Lanka.

The distinction recognises eminent academic leaders whose service to higher education reflects values associated with ethics, integrity, responsible leadership and good governance. Although inspired by the Olympic tradition, the recognition is not connected to sporting achievement. Instead, it seeks to promote the broader humanistic and ethical ideals of Olympism within universities and academic institutions across the world.

Ethos Universitas functions under the academic committee of Panathlon International, an organisation founded in Venice in 1951 and recognised by the International Olympic Committee since 1982. The initiative presently connects nearly 200 universities and academic institutions in more than seventy countries.

The recognition highlights the growing international emphasis on ethics and value-based leadership in higher education. It also demonstrates how Olympic values such as excellence, fairness, respect, integrity and social responsibility are increasingly being interpreted beyond the field of sport and applied within academic and institutional contexts worldwide.

Professor Amaratunge has previously received several prestigious national and international honours in recognition of his distinguished contributions to higher education and public service. In 2021, he was conferred The Order of the Rising Sun, Gold Rays with Neck Ribbon by His Majesty the Emperor of Japan which is the highest honours ordinarily conferred upon foreign nationals in recognition of outstanding contributions to promoting relations with Japan.

More recently, in 2026, he was awarded the honorary title Sri Sumangala Vidyawathansa by the Vidyodaya Pirivena, in recognition of his exceptional and sustained contributions to Sri Lanka in the field of national service. Earlier, in 2018, Vidyodaya Pirivena conferred on him the honorary title Vidyodaya Dharma Shasthra Vibhushanaa in recognition of his distinguished service to education and society.

The Sri Lanka Shippers’ Council (SLSC) has renewed its call for sweeping trade facilitation reforms, warning that hidden logistics costs, border delays, and outdated regulations continue to erode the competitiveness of Sri Lankan exporters and importers.

Addressing the Council’s 60th anniversary celebrations and 56th Annual General Meeting (AGM) last Friday, Chairman Trisherman Frink said eliminating unnecessary logistics costs remains the organisation’s core mission as it seeks to position Sri Lanka as a more efficient and competitive trading nation.

‘Our vision is simple yet powerful-to enhance the competitiveness of our members by abolishing hidden logistics costs,’ he said.

Frink stressed that every unnecessary border delay, inefficient procedure, avoidable surcharge, and outdated regulation ultimately increases the cost of doing business and weakens the international competitiveness of Sri Lankan companies.

‘As the apex body representing Sri Lankan shippers, we have both a responsibility and an obligation to work with Government, regulators, and industry stakeholders to remove these barriers and create a logistics environment that enables businesses to compete successfully on the global stage,’ he said.

He noted that the global trading landscape is evolving rapidly, driven by changing supply chains, digital transformation, intensifying competition among ports, and shifting international trade policies.

‘In this environment, standing still is not an option. We must continuously adapt. We must innovate. And above all, we must work together,’ Frink said, urging greater collaboration among Government agencies, regulators, ports, shipping lines, logistics providers, exporters, and importers.

Reflecting on the Council’s activities over the past year, Frink said the organisation had continued to represent the interests of Sri Lankan shippers through constructive engagement, evidence-based advocacy, and collaboration with policymakers.

‘We firmly believe that sustainable progress is achieved not through confrontation but through dialogue, mutual respect, and partnership,’ he said.

The Council strengthened its engagement with key public institutions during the year, including Sri Lanka Customs, the Sri Lanka Ports Authority, the Board of Investment, the Merchant Shipping Secretariat, the Export Development Board, Airport and Aviation Services (Sri Lanka), and the Asian Development Bank.

He thanked the heads of these institutions for maintaining open dialogue with the private sector, noting that while differences of opinion may arise, the shared objective remains improving Sri Lanka’s business environment.

Trade facilitation, he said, continues to be one of the Council’s highest priorities.

‘International trade is no longer measured only by the quality of a product. It is measured by the speed, efficiency, predictability, and the cost of moving that product across borders,’ he said.

Frink noted that repeated documentation requirements, unnecessary paperwork, delays in cargo clearance, and prolonged container dwell times add significantly to business costs, with exporters, importers, and ultimately the national economy bearing the burden.

‘Our objective has never been to assign blame. Our objective is to build solutions that create value for everyone,’ he added.

He also said the Council had actively participated in meetings of the Asian Shippers’ Alliance and the Global Shippers’ Alliance, strengthening links with counterpart organisations across Asia, Europe, Australia, and North America.

He opined that these partnerships provide valuable opportunities to exchange knowledge, monitor emerging global trade trends, and ensure that the interests of Sri Lankan shippers are represented internationally.

Frink outlined the Council’s priorities for the coming year, including advocating policies to enhance Sri Lanka’s trade competitiveness, accelerating digital trade facilitation initiatives, working with State agencies to remove unnecessary logistics barriers, and strengthening engagement with international organisations to introduce global best practices.

He stressed that the Council’s achievements have been built on collective effort rather than individual contributions.

‘No organisation succeeds because of the efforts of one individual. Success is achieved through teamwork, commitment, and a shared vision. Let us continue to build bridges rather than barriers,’ he said.