Category: Daily Financial Times

The Colombo stock market yesterday continued its slide for a eighth straight session with 152 counters closing in red against 55 in green as the resumption of the Middle East war weighed on tensions.

The ASPI was down 0.60%, or 130.78 points at 21,697.72 and the S and P SL20 fell 0.54% or 33.03 points to 6,066.49.

Turnover was over 1.4 billion on over 119.5 million shares traded. Foreign investors were net sellers on a net outflow of Rs. 91.7 million.

The contributors to the ASPI decline were COMB, MELS, LION, HAYL and JKH. Positive contributions came from BREW, SEYB, SEMB, LIOC and MAL.

First Capital Research said investor sentiment remained weak amid continued selling pressure, while lingering geopolitical tensions in the Middle East kept investors cautious. HNW participation was visible on selective shares and contributed the majority of turnover, while retail participation remained at average levels.

The capital goods sector led the daily turnover with a share of 37%, followed by the food beverage and tobacco, and banking sectors collectively contributing 26%.

NDB Securities said high net worth and institutional investor activity was recorded in Hemas Holdings, Access Engineering and John Keells Holdings.

Mixed interest was seen in Melstacorp, Industrial Asphalts and Hayleys, while retail participation was noted in Waskaduwa Beach Resort, Browns Investments and LVL Energy Fund.

The capital goods sector was the largest contributor to market turnover, driven by Hemas Holdings, Access Engineering and John Keells Holdings, although the sector index declined 0.85%.

Hemas Holdings share price fell 50 cents to Rs. 32 while Access Engineering declined 50 cents to Rs. 77 and John Keells Holdings lost 10 cents to close at Rs. 19.90.

The food, beverage and tobacco sector was the second-largest contributor to turnover, led by Melstacorp, with the sector index declining 0.65%. Melstacorp ended Rs. 1.75 lower at Rs. 186.

Industrial Asphalts was also among the top turnover contributors, with its share price declining 10 cents to 70 cents.

Power World Gyms, Sri Lanka’s leading fitness brand with over 30 years of experience, has partnered with Fitzky to redefine how fitness is accessed, experienced and integrated into everyday life for communities across its network.

This partnership brings together Power World’s established fitness infrastructure and Fitzky’s digital-first platform to create a more seamless and user-centric fitness journey. Through Fitzky, customers can now discover and purchase Power World Gym memberships with ease, removing traditional barriers and simplifying access to premium fitness facilities through a single, integrated platform experience.

In addition, the introduction of the Fitzky Fit Pass adds a new layer of flexibility to the fitness landscape. Users are no longer tied to fixed routines or single-location commitments. Instead, they can choose a day-pass option that allows them to access Power World gyms as well as a wider network of partner fitness centres, enabling a more dynamic and adaptable approach to training.

From a customer experience perspective, this collaboration reflects a shift toward convenience-led fitness consumption. Whether individuals are looking for long-term membership commitments or flexible, on-demand access, the partnership ensures that fitness can now align more closely with modern lifestyles, schedules, and personal goals.

Further, this initiative strengthens Power World’s digital footprint while expanding Fitzky’s value proposition as a comprehensive fitness marketplace. Together, both brands are driving a more connected fitness ecosystem. One that prioritises accessibility, choice and user empowerment.

The partnership signals a clear move towards making fitness not just a destination, but an easily accessible service. Available anytime, tailored to individual needs and delivered through a streamlined digital experience.

Finch Foods has opened its premium travel retail outlet at Bandaranaike International Airport, marking a significant milestone in the company’s journey to build a globally recognised Sri Lankan food brand.

Located within the Departure/Transit Duty Free area, the outlet has been designed to showcase the finest ingredients, flavours and gifting collections from Sri Lanka to international travelers.

The new outlet brings together a curated range of premium Ceylon products, including cinnamon, vanilla, botanicals, natural wellness products, superfoods, authentic Sri Lankan spices, artisan food products, premium honey, natural oils and exclusive gifting collections. Designed as an immersive retail experience, the outlet celebrates Sri Lanka’s rich agricultural heritage, craftsmanship and culinary identity while presenting them through a modern premium brand experience.

For Finch Foods, the opening represents more than the launch of a new retail outlet. Establishing a permanent presence at Sri Lanka’s international gateway provides the brand with a powerful platform to introduce international travellers to value-added Sri Lankan products. It also reinforces the company’s long-term vision of taking the finest of Sri Lanka to the world through innovation, premium branding and global market access.

Managing Director Fawaz Fassi said: ‘The opening of our outlet at Bandaranaike International Airport is a proud milestone in the Finch Foods journey. More than a retail outlet, it is a platform to introduce millions of international travelers to the very best of Sri Lanka and demonstrate how our country’s finest ingredients can become globally recognised branded products.’

Finch Foods was established as part of a broader entrepreneurial vision to build a globally competitive food business. The company initially represented and distributed leading international FMCG brands in Sri Lanka before identifying an opportunity to create its own premium Sri Lankan food brand for local and global markets. While Sri Lanka is internationally recognised for ingredients such as Ceylon cinnamon, tea and spices, Finch Foods saw an opportunity to move beyond the export of raw commodities by creating premium, value-added products capable of competing on the global stage.

The company operates under recognised food safety and quality management systems, including GMP, HACCP, ISO 22000 and ISO 9001.

The new airport outlet also features carefully curated gifting collections designed specifically for travelers. These include elegant gift boxes and exclusive airport selections that allow visitors to take home an authentic yet premium expression of Sri Lanka. The concept is intended to move beyond traditional souvenirs by offering meaningful, high-quality products that can be enjoyed, shared and gifted.

‘At Finch Foods, we are committed to adding value to Sri Lankan ingredients through innovation, premium branding and exceptional customer experiences. Our purpose, ‘Connecting Cultures Through Flavour,’ is reflected in this milestone, which enables us to introduce the finest of Sri Lanka to travelers from around the world. We are grateful to Airport and Aviation Services (Sri Lanka) Ltd., our partners, suppliers and the Finch Foods team for helping us bring this vision to life,’ Fassi added.

The Classic Car Club of Ceylon (CCCC) successfully concluded its 34th year at its Annual General Meeting, held on 25 June 2026 at The Kingsbury Hotel, Colombo.

The meeting marked the culmination of another outstanding year for the Club, highlighted by a series of successful events and initiatives celebrating Sri Lanka’s vibrant classic motoring community. These included Starlight and Classics, the Ceylon Motor Show 2026, the Heritage Rally, British Car Day 2026, the Classic Car Diaries video series, and the Club’s annual Corporate Social Responsibility (CSR) project.

The meeting was chaired by Protem Chairman Dr. Harsha Cabral, who proposed the nomination of Sanjiv Alles for a fourth consecutive term as President. The nomination was unanimously endorsed by the members present, who also elected the Office Bearers and Executive Committee for the 2026-2027 year.

In his acceptance address, the President thanked the membership for the confidence placed in him and the Committee, and reaffirmed the Club’s commitment to preserving and promoting Sri Lanka’s rich classic motoring heritage. He highlighted the importance of continuing to innovate through unique events, educational initiatives and digital engagement, while encouraging members to actively participate in the Club’s activities and help inspire the next generation of classic motoring enthusiasts. As the Club embarks on its 35th year, it looks forward to another exciting calendar of events that will continue to celebrate Sri Lanka’s motoring heritage, strengthen the camaraderie among enthusiasts, and inspire greater appreciation for classic vehicles across the country.

Office-Bearers and Executive Committee for the year 2026/2027 Office Bearers:

President: Sanjiv Alles

Vice Presidents: Senaka Kotagama and Hatim Akbarally

Secretary: Priyanga Samaratunga

Assistant Secretary: Rajitha Cooke

Treasurer: Suhen Vanigasooriya

Assistant Treasurer: Shiraz Akbarally

Immediate Past President: Clive de Silva Jr.

Competition Secretary: Chanaka Jinasena

Executive Committee:

Social Secretary: Shalike Ganewatta

Ramani Ponnambalam

Chandana Amaratunga

Dinesh De Silva

Ramal Jasinghe

Kishan D. Perera

Dilshan Gomes

Amrit Alles

Vice Patrons

Asgi Akbarally

Geepal Fernando

Minority shareholders of Associated Motor Finance Company PLC (AMF) have renewed their challenge to the proposed amalgamation with L B Finance PLC after the Central Bank of Sri Lanka (CBSL) informed them that the pricing of the transaction falls outside its regulatory mandate, prompting shareholders to intensify calls for intervention by the Securities and Exchange Commission of Sri Lanka (SEC).

The shareholders continue to argue that the proposed cash consideration of Rs. 55 per share does not adequately reflect the value of their holdings and have urged the SEC to examine whether the consideration is fair and whether minority shareholder interests have been sufficiently protected.

In correspondence with shareholders, the CBSL said its role as the regulator of licensed finance companies is focused on safeguarding depositors and maintaining the soundness of regulated institutions, indicating that the valuation and pricing of the proposed amalgamation do not fall within its regulatory purview.

Responding to the CBSL, the minority shareholders acknowledged the Central Bank’s explanation but said they were still awaiting responses from the SEC and the Colombo Stock Exchange (CSE), arguing that no independent valuation report has been published to justify the proposed amalgamation price.

They noted that, during L B Finance’s mandatory offer in November 2025, HNB Investment Bank (Private) Limited, acting as the independent adviser, concluded that shareholders should not accept the Rs. 50 per share offer because it was below values indicated by several valuation methodologies, including price-to-book, price-to-earnings and volume-weighted average price analyses. The then Board of Directors of AMF endorsed the independent adviser’s opinion while advising shareholders to make their own assessment before deciding whether to accept the offer.

The shareholders argue that the subsequent amalgamation proposal offering Rs. 55 per share has not been supported by a comparable independent valuation or a detailed explanation of how the consideration was determined.

The concerns stem from L B Finance’s acquisition of a 65.6% controlling stake in AMF at Rs. 50 per share in September 2025, followed by a mandatory offer to remaining shareholders at the same price.

The shareholders have also questioned statements made at AMF’s Extraordinary General Meeting (EGM) on 30 June. In their latest correspondence, they said CBSL officials had previously informed them that AMF was able to continue as a standalone company and faced no issues relating to capital adequacy, financial ratios or other regulatory requirements, and that the proposed amalgamation had been initiated at the request of L B Finance.

However, they allege that during the EGM, AMF Chief Executive Officer T. M. A. Sallay told shareholders that the company could not survive as a standalone entity and that its financial ratios were unsatisfactory, urging shareholders to vote in favour of the special resolution. The minority shareholders contend that these remarks appear inconsistent with the information previously conveyed to them by the CBSL and have asked whether any regulatory action is warranted.

Separately, the shareholders claimed that around 114 minority shareholders, collectively holding more than 8.2 million shares or about 7.3% of AMF’s issued shares, voted against the special resolution at the EGM. They also said the company’s second-largest shareholder, Dr. Weththige Jinadasa, who holds about five million shares, attended the meeting in person and also voted against the resolution.

The minority shareholders have reiterated their request that regulators examine whether the valuation appropriately reflects AMF’s financial performance, future earnings potential and prevailing market conditions. They have also raised concerns regarding post-acquisition developments, including increased impairment provisions and the cancellation of a proposed debenture issue, and asked regulators to consider whether these developments had any bearing on the valuation.

AMF shares closed unchanged at Rs. 53 on Wednesday. The company reported net assets of Rs. 42.02 per share as at end-March 2026.

The merger with LB Finance PLC will take effect on 31 July and AMF shares will be suspended from trading on the Colombo Stock Exchange from the close of market on 27 July ahead of the amalgamation becoming effective.

Under the agreed terms, AMF shares will not be converted into LB Finance shares. Instead, shareholders of AMF other than LB Finance will receive a cash consideration of Rs. 55 per share.

Upon completion of the amalgamation, the shares held by LB Finance in AMF will be cancelled in accordance with Section 240(3)(a) of the Companies Act, No. 7 of 2007.

LB Finance currently holds a 73% stake in AMF, following the completion of a voluntary offer made late last year at Rs. 50 per share. The amalgamation will result in AMF ceasing to exist as a separate listed entity, with its business and assets being absorbed into LB Finance.

Nations Trust Bank has appointed Ananda Jayawardana to its Board as its Independent Non-Executive Director.

Jayawardana is a senior finance professional with over 25 years of international experience in Leveraged and Structured Finance, Debt Capital Markets and Corporate Banking with extensive expertise in originating, structuring, and executing complex cross-border financing solutions across Asia leveraging export credit agencies, multilaterals, and global financial institutions.

His previous appointments include Head of Structured Export Finance (ASEAN and South Asia) and Executive Director – Leveraged and Structured Solutions at Standard Chartered Bank, Singapore; Executive Director – Primary Debt Markets at the Royal Bank of Scotland, Hong Kong; and Director – Structured Lending (Asia Pacific), Hong Kong and earlier Assistant Vice President/Team Head – Corporate Banking at ABN AMRO Bank, Sri Lanka.

He holds an MBA in Corporate Finance from Georgia State University, USA, and a BBA in Economics from Georgia College, USA, and has also completed professional trainings including Aspiring Directors Program, INSEAD and High Potential program and Bankers Training Program, ABN AMRO Bank.

Foreign and local investors, law abiding businesses, administrators and civil servants, investing public, journalists, professionals and rule of law and justice committed citizens have been shocked and dismayed by news reports alerting that perceived well run public and private sector leading entities, during the past 9 months of having reported massive losses of national resources, especially scares external resources.

The extent of these losses was unheard of in relation to past reported similar incidents.

Most of them are perceived to be due to frauds, scams, IT hacking, involving mostly local citizens, aided by some external parties and scammers.

In addition, Sri Lankan authorities have during the same period failed to diligently follow Sri Lanka’s claim for environmental and other massive damages to the ecology, marine environment and people by the Express Pearl disaster.

The most shocking revelation was that these frauds and associated losses were due to systemic failures, indicating serious flaws in the overall structure, policies, or procedures, human interventions/behaviours, that caused cascading issues across the entire network/institutions.

Systemic failures envelop key regulators and public institutions

The biggest surprise was that expected professional oversight and systems of internal control, compliance with regulations failed not only at entity level; but more importantly at all levels of secondary regulatory reviews, independent practitioner’s reviews and including even the break down in corporate culture of integrity, transparency and commitment to diligent, good faith driven requirements of acting in the best interests of the institutions by acknowledged and accountability endowed Professionals in Governance.

These massive frauds, scams and lackadaisical control mechanisms in force reflect that the weakest links in the chain of management with transaction flows being executed without expected lack of care and commitment though exercised by capable and competent professionals. The lack of oversight supervision by the leadership executives alongside a breakdown in cultures of integrity and embedded best fit good governance practices are clearly visible.

Most strangely these massive leakages have happened within a governance regime committed to maintain a strict ‘zero-tolerance’ policy on corruption, asserting that no one is above the law. Current administration views combating systemic fraud, bribery, and organised crime as the essential foundation for the country’s long-term economic and democratic governance recovery. The President has firmly asserted that the full force of the law will apply without exception and declared that no offender will receive political protection, and that the corrupt will face strict justice with the law taking its course irrespective of political status or relationships, noting that the era of political patronage shielding drug lords, the corrupt and the traffickers has ended.

In pursuit of these commitments the Clean Sri Lanka’, a flagship program touted as the operational arm of a new social contract grounded in anti-corruption, transparency, and the rule of law has been initiated.

Most professionals, including members of the Institute of Chartered Accountants, are committed to upholding a practice of reporting all instances of Non-Compliance with Laws and Regulations (NOCLAR).

Under the Financial Transactions Reporting Act, (FTRA) financial institutions and designated non-finance businesses are legally mandated to report suspicious transactions, unlawful activities as well as non-compliance with Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT).

Mandated institutions are required to conduct ongoing due diligence and continuously scrutinise customers (know your customer rule) and their transactions and note, review and report on any inconsistencies infecting transactions with customer profile being regularly assessed. They are required to report suspicious transactions, strictly enforce and report transactions above set thresholds, including those via electronic fund transactions, telegraphic transfers and letters of credit and cash transactions exceeding specified thresholds. These institutions are required to appoint Compliance Officers to manage their accountability under the Act.

The Act further requires regulatory and supervisory institutions like the Central Bank, Bank Supervision, Exchange Management Department, Import Control, Customs, and FIU to exercise diligent oversight over transactions above set thresholds.

The recently enacted Proceeds of Crime Act mandates designated institutions, including financial institutions, designated non-financial businesses, and virtual asset providers to disclose information, conduct due diligence, and report suspicious transactions to combat money laundering and illicit wealth acquisition and repatriating such wealth out of the country.

Proceeds of Crime Investigation Division is authorised to coordinate with, seek information, and assistance of specified state and private institutions to trace, freeze and recover assets related to proceeds of crime. (Important to recognise the binding of Sate Institutions under Section 33. (1) Notwithstanding any provision of any law which requires a person or an institution to maintain confidentiality of certain information, the officers specified in subsection (2) shall, upon information pertaining to any one or more of the following coming to his knowledge, provide such information in writing to the Designated Officer under whose purview the investigation of the relevant proceeds of crime or the offence has been vested by this Act:- (a) the possible existence of proceeds of crime; (b) the identity of persons who may be possessing, having custody, exercising dominion or control of proceeds of crime; (c) the possible committing of an unlawful activity and the person who had been complicit in such offence; or (d) the committing of an offence under this Act) This binding, along with the commitments under Financial Transactions Reporting Act, applying as an accountability of persons leading State Institutions, Regulatory Bodies, Public authorities/entities and even on Business and Civil Society leaderships including Directors and Officers of Companies, appear not recognised, prioritised with commitments to uphold.

Primary path to assure good governance under ‘Clean Sri Lanka’

In the light of the above, State commitments, legal empowerments and regulatory controls must embed in systems and processes their effective implementation, to assure and enforce, an expanded scope of application of laws and regulations. Under such a governance regime, all parties who have directly or indirectly participated or facilitated or even by their gross negligence aided and abetted the above frauds, scams or professional actions with gross negligence or have acted without good faith, diligent application of their expected executive functions, knowingly and willfully or otherwise, and have thus caused losses of vital national resources, (here importantly including Regulators and Public Institutions) should be investigated and if guilty prosecuted and penalised.

It must be recognised that the above implementation framework whether effectively in place, will be assessed under the APG review due at the end of this year, where failure to do so will lead to catastrophic consequences of a downgrade to the ‘GREY LIST’, due to strategic deficiencies in countering money laundering, terrorist financing, and proliferation financing.

Passing the buck for lapses in effective governance, regulatory controls and systems supervision, with associated inactions with arrogance and uncaring governance and communications, as seen in the case of the significant value frauds, scams, systemic failures and ineffective enforcement of the laws and regulations will certainly culminate with Sri Lanka being downgraded to the Grey List.

Recommendations

The President and Cabinet must resolve and require following immediate actions:

1. Require law enforcement and the prosecutors of the Attorney General›s Department to expedite investigations, which must be conducted professionally and with diligence under best advice.

2. Require all leaderships in charge of Regulatory Institutions and Public Authorities connected with these reported frauds, scams and lackadaisical enforcements, to immediately inquire, reform and upgrade enforcement action to be pursued with commitment, transparency; thus, mitigating risks of repetitive systemic failures assured under effective change management initiatives.

3. Any lacunae in the laws and regulations along with recommended best practices of risks, controls and compliance processes must be reformed, embedded in the legal framework early and effectively enforced

4. Public Administration, Finance Ministry, Central Bank, FIU, Bank Supervision, Exchange Management Departments, and Key Revenue Agencies must issue new good governance assurance requirements for management compliance ensuring effective best practices of risks and controls and compliance processes are embedded and are effectively embedded; with compliance officers specifically required ensure they are in force along with processes for whistle blowing and reporting of non-compliance with laws and regulations (NOCLAR)

5. Law Enforcement and Attorney General’s Department must ensure that any institution and any key leadership persons failing to discharge their accountability for effective governance, regulatory controls, oversight supervision with best practices of risks mitigation, control and compliance, including all associated parties who have directly or indirectly participated or facilitated or even by their gross negligence aided and abetted the any frauds, scams or professional accountability actions with gross negligence or have acted without good faith, diligent application of their expected executive functions, knowingly and willfully or otherwise, and have caused losses of vital national resources, (here importantly including Regulators and Public Institutions) should be investigated and if guilty prosecuted and penalised.

6. All directors and officers, entrepreneurs, professionals and public practitioners, including External Auditors, Professional Accountants, Lawyers, Valuers, Consultants etc associated with or have failed in the due discharge of their professional accountability or have by their negligence caused or have aided and abetted the fraud, scam or money laundering or other offenses with proceeds of crime and wealth accumulation must also be investigated and if guilty prosecuted and penalised.

7. All professional bodies (eg. Institute of Chartered Accountants, Chartered Financial Analysts, BASL, OPA, Bankers Institute, Institute of Engineers, Computer Society), must strictly enforce Codes of Conduct and Ethics, and Professional Standards and enforcement of disciplinary actions against the errant.

8. Auditor General must be required to review all such instances of fraud, scams and money laundering by the conduct of a post audit and make recommendations with lessons learnt based reform measures essential for effective management and supervision with implementation surcharge provisions against errant parties

9. Revisit the Express Pearl Claim Processes and associated illegal actions of any of the involved parties and local authorities, local agents and officials of public institutions and enforce effective action to recover damages assessed.

Sri Lanka has revised down its ambitious 2026 tourism targets, with Tourism Deputy Minister Prof. Ruwan Ranasinghe yesterday attributing the downgrade to the fallout from the Middle East conflict, which disrupted air connectivity and dampened visitor arrivals.

The Government now expects to attract 2.5 million tourist arrivals and generate $ 3.5 billion in tourism earnings by the end of 2026, down from the original targets of 3 million visitors and $ 4 billion in revenue.

Speaking at a media briefing, Prof. Ranasinghe expressed hope that 2026 will still be a record-breaking year in terms of arrivals.

He said Sri Lanka had begun the year on a strong footing, with January recording a historic performance and arrivals growing 17% year-on-year (YoY), followed by a further 16% increase in February.

However, he said the escalation of the Middle East conflict significantly disrupted global aviation, particularly through the temporary closure of regional airspace, affecting Sri Lanka’s key long-haul transit routes.

‘Several airspaces in the Middle East were closed and nearly 2,000 flights and 1,000 arrivals and departures were cancelled. This had a significant impact on Sri Lanka’s tourism performance,’ he explained.

Prof. Ranasinghe noted that, at the start of the year, the Government had prepared three scenarios for tourism performance: a baseline projection of over 2.5 million arrivals, an optimistic target of 2.7 million, and a best-case scenario of 3 million visitors.

‘Considering the developments over the past few months, we now believe that if conditions continue to improve, we can still achieve around 2.5 million tourist arrivals by the end of the year,’ he said.

Despite the setback, the Deputy Minister expressed confidence that the sector would recover during the second half of the year, supported by improved airline connectivity and an expanded tourism promotion program.

He outlined that several new airlines are preparing to commence services to Sri Lanka, while existing carriers are expanding operations.

The new entrants include Vietnam Airlines, VietJet, Australian low-cost carrier Jetstar, British Airways, European charter operators French Bee, S7 Airlines (JSC Siberia Airlines), and Ukraine’s Supernova Airlines. In addition, Turkish Airlines, Emirates, and Qatar Airways have increased their flight frequencies. He also noted that discussions are underway to explore the launch of services by Bangla Airlines and Centrum Air.

Sri Lanka Tourism Promotion Bureau (SLTPB) Chairman Buddhika Hewawasam said that with improved airline connectivity, Sri Lanka could achieve its revenue targets by attracting around 200,000 visitors per month, including 75,000 to 100,000 high-spending Indian travellers.

He also said that Swiss airlines, carriers from the Commonwealth of Independent States (CIS) region, and airlines from Poland have assured early commencement of their winter charter flight operations, enabling Sri Lanka to attract more visitors during the peak winter holiday season.

Aljazeera.com: The World Cup always brings to the fore what is sometimes seen as a pure and mostly straightforward form of identity: national identity.

But the 2026 tournament has demonstrated, perhaps as clearly as any global event can, that modern national identity is complex, contested and far from straightforward.

The composition of the Moroccan World Cup squad offers a useful case in point.

Nineteen of the 26 players on the squad were born outside Morocco, many of them either in Spain or France, the two European powers that colonised the country. The composition of the team has raised fascinating questions about dual citizenship and loyalty, national identity, the diaspora, and the enduring legacies of colonialism.

Similar complexities are visible across the tournament. Many of the players on the national teams of the United States, Canada, France, England, Germany, Belgium, the Netherlands and Australia come from immigrant families.

In an era of increasingly exclusionary nationalist politics in North America and Europe, some of the countries engaged in the most intense debates about national identity are being represented on the world’s biggest sporting stage by multicultural teams.

The historical paradoxes are hard to miss. Many of the players representing European countries come from diasporic communities with roots in countries that were once colonised by those same states. The composition of the teams suggests that modern national identity cannot be easily disentangled from colonialism, empire and migration.

Moreover, across many North American and European teams, most of the players from immigrant families are racial minorities living in white-majority societies. It is at this intersection of national and racial identity that tensions and contradictions emerge most clearly.

After the Netherlands were eliminated by Morocco in a penalty shootout on June 29, three Black Dutch players who missed penalties were immediately subjected to racist abuse online. The incident exposed a recurring contradiction at the heart of modern national identity: minority players can be included as part of the nation when they succeed but treated as outsiders when they fail.

The US contradiction

The case of the US, which is cohosting the tournament with Canada and Mexico, is an especially illustrative one.

US President Donald Trump’s political programme has been defined, at least partly, by white grievance politics and an anti-immigration agenda.

Trump has repeatedly appealed to notions of white victimhood and began his second term with a series of measures that Amnesty International said reinforced white supremacy’s central narrative that ‘whiteness is synonymous with US American identity’.

After suspending the US’s refugee programme on the first day of his second term, Trump issued an executive order prioritising the resettlement of white Afrikaners from South Africa. His administration recently expanded the programme, creating 10,000 additional refugee slots for white South Africans, all while excluding non-white refugees.

The Trump administration has also carried out an unprecedented crackdown on mostly non-white immigrants. In 2025, Immigration and Customs Enforcement (ICE) arrested about 400,000 immigrants, deporting most of them. ICE recently intensified its efforts, arresting 10,000 immigrants over a five-day period in late June.

The sweeping crackdown raised fears that the 2026 World Cup would be defined more by exclusion than inclusion.

In the weeks leading up to the tournament, more than 120 prominent rights groups, including Amnesty International, the NAACP and the American Civil Liberties Union (ACLU), jointly issued a World Cup travel advisory.

Fears appear to have been at least partly justified. The Trump administration denied entry to Omar Abdulkadir Artan, an award-winning Somali referee, imposed severe travel restrictions on the Iranian team, and detained Iraq striker Aymen Hussein for seven hours upon arrival in the US.

Against this messy backdrop, the USA reached the last 16 before being knocked out by Belgium.

Six members of the team were born outside the US, and more than half of the players hold dual citizenship.

Some of the white American fans lining football stadiums in Boston, Dallas, Atlanta, Houston, Los Angeles, Seattle and other US cities almost certainly included Trump supporters. There is a striking irony in members of a political movement defined partly by white grievance politics standing in stadiums and shouting ‘USA’ for a national team featuring Folarin Balogun, Alejandro Zendejas, Haji Wright and other players from immigrant families.

Nowhere is that contradiction more visible than in the tournament’s main host country. This World Cup, perhaps more than any of its predecessors, has exposed the instability and contradictions of modern nationalism. Political movements may imagine nations as ethnically and racially coherent, or as culturally fixed entities, but the teams representing those nations tell a very different story. National football teams are products of migration, diaspora, colonial history and contested ideas about ‘us’ and ‘them’.

Maybe, in the end, the 2026 World Cup’s most important lesson will have nothing to do with football talent, style of play, or coaching strategy. Perhaps the tournament’s most enduring lesson will be that national identity is not as fixed or straightforward as many nationalists imagine it to be.

(Th author is Professor in the Media Studies program at the Doha Institute for Graduate Studies )

The United Nations Population Fund (UNFPA) and the Parliament of Sri Lanka have signed a Memorandum of Understanding to strengthen the use of population data and evidence in policymaking, reinforcing a shared commitment to ensuring that the country’s changing population dynamics are reflected in future legislation and national development priorities. The MoU was signed between Secretary-General of Parliament Kushani Anusha Rohanadeera and UNFPA Sri Lanka Representative a.i., Phuntsho Wangyel.

The partnership will help ensure that the laws and policies shaping Sri Lanka’s future are informed by reliable population data and evidence, enabling the country to respond more effectively to population ageing, changing family structures and evolving development needs while advancing gender equality and protecting the health and rights of women and young people.

UNFPA Regional Director ad interim for Asia and the Pacific Dr. Aleksandar (Sasha) Bodiroza said: ‘The decisions made today will shape the lives of future generations. This partnership is about ensuring that Parliament has the evidence, data and insights needed to build policies that respond to a changing population while protecting people’s rights, expanding opportunities and ensuring that no one is left behind. Demographic change is not something to fear. It is an opportunity to build a stronger, more inclusive future if we prepare for it together.’

The agreement was a key milestone during Dr. Bodiroza’s official visit to Sri Lanka from 28 June to 4 July, focused on strengthening partnerships to support the country’s long-term development priorities.

During his visit, Dr. Bodiroza also met with Prime Minister, Dr. Harini Amarasuriya; Speaker of Parliament, Dr. Jagath Wickramaratne; and Health and Mass Media Minister Dr. Nalinda Jayatissa and Secretary to the Ministry of Women and Child Affairs, W. M. D. T. Wickremasinghe. Discussions focused on strengthening health systems, advancing gender equality, supporting women and young people and preparing for Sri Lanka’s changing population landscape through evidence-based, rights-centred policies.

Dr. Bodiroza also visited communities affected by Cyclone Ditwah to observe UNFPA’s ongoing interventions to support women and girls in estate communities through reproductive healthcare, protection services and humanitarian assistance. Additional engagements with development partners, civil society organizations and the private sector reinforced the importance of broad partnerships in advancing inclusive development and ensuring that women, girls and young people can fully participate in Sri Lanka’s future.