Category: Daily Financial Times

The Colombo stock market extended its bear run into a seventh session yesterday.

With 163 counters closing in red against 52 in green, the ASPI was down 0.61% or 133.80 points at 21,828.50 and the active S and P SL20 was down 0.59% or 35.98 points at 6,099.52.

Market turnover was over Rs. 2.25 billion on over 210.1 million shares traded. Foreign investors were net sellers on a net outflow of Rs. 22.5 million.

First capital Research said the market extended its downward trend amid continued selling pressure, reflecting the prevailing negative sentiment. HNW participation was high and accounted for a significant share of turnover, while retail participation remained above average.

The main negative contributors to the ASPI were SAMP, HAYL, DIAL, LOLC, and HNB.X. The capital goods sector led the daily turnover with a share of 32%, followed by the food beverage and tobacco, and banking sectors collectively contributing 38%.

The Chartered Institute of Bankers Ghana has elected Dr. Ellen Ohene-Afoakwa, FCIB, as its new President for a two-year term.

The election was held during the Institute’s 6th Annual General Meeting on Thursday, June 25, 2026, at the CIB Ghana Auditorium in Accra.

Dr. Ohene-Afoakwa, Managing Executive for Corporate and Investment Banking at Absa Bank Ghana Ltd, previously served on the CIB Ghana Governing Council.

She will be supported by Mr. Woelinam Dogbe, FCIB, Deputy Director-General for Investment and Development at SSNIT, who was elected Vice President.

New members elected to the Governing Council are: Rosemond Amoo, FCIB, HRM and Customer Service Consultant at Horizon Insurance Brokers Ltd; Doris Yaa Aggrey Ahiati, FCIB, CEO of Crescendo Consult Ltd, Ghana; and Daniel Arhin, ACIB, Manager, Lending at Standard Bank Offshore, Isle of Man, UK.

In her acceptance speech, Dr. Ohene-Afoakwa said education, skills development and staff welfare will be the priority pillars for the new council.

‘I am fully honoured for the opportunity to serve as President of this noble Institute. The mandate of CIB Ghana is to promote the study of banking and regulate the practice of the banking profession in the country,’ she said. ‘As an Institute, we will continue to champion professionalism, ethical conduct, continuous learning and innovation firmly anchored in the values and ethics that define our calling.’

She pledged to work with all industry stakeholders to build capacity, raise institutional visibility, enhance member value, and mentor the next generation of Ghanaian banking professionals. She also committed to maintaining CIB Ghana’s influential voice in shaping the future of the financial sector.

Financial Performance

The new leadership takes over as CIB Ghana reports strong growth. Revenue increased 33% to GH?18.82 million, driven by higher examination registrations. Net surplus rose 36%.

The 2025 accounts, approved at the AGM, showed non-subscription income of GH?13.77 million, representing 73% of total revenue. Subscription income was GH?5.05 million.

Examination and student activities were the biggest drivers, growing 174% to GH?5.22 million. Commercial training income rose 86%, while Bankers Week income jumped 158% to GH?546,518.

Zimbabwe international Divine Lunga escaped unharmed after gunmen opened fire on his vehicle in Johannesburg, South Africa, on Sunday, according to local police.

The 31-year-old defender, who plays for Zimbabwe’s national team and South African champions Mamelodi Sundowns, was driving through the inner-city suburb of Hillbrow when the attack occurred.

South African police confirmed they have opened an attempted murder investigation, although no arrests have been made.

Police spokesperson Captain Tintswalo Sibeko said authorities are investigating the incident but declined to provide further details.

Local media reports indicate that Lunga was travelling to church with his younger brother when an unidentified gunman allegedly fired several shots at their vehicle. The pair escaped without injuries.

According to reports, investigators believe the attacker may have mistakenly identified Lunga as an undercover police officer, leading to the shooting.

The motive behind the attack has not been officially confirmed, and police investigations are ongoing.

Lunga, a key player for both Zimbabwe and Mamelodi Sundowns, has yet to comment publicly on the incident. His club has also not issued an official statement.

The Sri Lanka Institute of Directors (SLID) Chairman Dinesh Weerakkody and CEO Anitra Perera called on the Securities and Exchange Commission (SEC) Chairman Prof. Dissa Bandara to discuss opportunities for enhanced collaboration between the two organisations.

The discussion focused on strengthening director bench strength, elevating boardroom capabilities, and advancing capacity-building initiatives to support stronger corporate governance standards in Sri Lanka. The meeting also highlighted the upcoming Sri Lanka National Corporate Directors Summit 2026, which will bring together leading corporate directors from Sri Lanka and international governance experts to share insights, global practices, and perspectives on building future-ready boards.

The Summit aims to contribute towards strengthening investor confidence, enhancing governance excellence, and supporting Sri Lanka’s ambition to build a more competitive and resilient corporate sector.

Travellers from Sri Lanka can now plan their next getaway for less as Vietjet celebrates the July Double Day (7/7) with three days of special offers from 7 to 9 July 2026.

Passengers can enjoy Eco tickets from USD90 one way (inclusive of taxes and fees), alongside 20% off Deluxe and SkyBoss base fares with the promo code SALE77, on the airline’s new Colombo – Ho Chi Minh City service. Discounts are also available on Vietnam domestic and other international routes across Vietjet’s flight network,

The sale comes just weeks ahead of Vietjet’s inaugural flight between Colombo and Ho Chi Minh City, scheduled for 18 August 2026. Operating three times a week on Tuesdays, Thursdays and Saturdays, the roughly five hour flight offers Sri Lankan travelers easy access to Vietnam as well as onward connections across Vietjet’s growing network in Asia, Australia, and Europe.

The offers are valid for travel between 15 August 2026 and 31 March 2027 (excluding public holidays and peak travel periods). Promotional Eco fares are available when booking via www.vietjetair.com or the ‘Vietjet Air’ mobile app, while the 20% discount on premium fares applies across all Vietjet sales channels.

In addition, Vietjet is offering special discounts for Eco fares on selected Vietnam domestic routes with increased flight frequencies, giving travelers even greater value as they plan a multi-stop journey in the country.

Whether it is a brief escape, a cultural journey or a business trip, Vietjet’s July Double Day campaign gives Sri Lankan travelers the opportunity to lock in great value fares to Vietnam and beyond. Beyond exceptional savings, Deluxe combines affordability with added flexibility, including up to 20kg of checked baggage, complimentary seat selection and flexible itinerary changes (terms and conditions apply). For an even more elevated journey, SkyBoss offers premium services, attentive hospitality, curated inflight dining and a seamless travel experience designed for both business and leisure travelers.

Vietjet said it continues to make air travel more affordable and accessible through its expanding network, fuel-efficient aircraft and customer-focused services, delivering a comfortable and enjoyable experience on every flight. Passengers can savour freshly prepared hot meals inspired by Vietnamese and international cuisines, including favourites such as pho, banh mi and Vietnamese iced milk coffee. Complemented by the warm hospitality of Vietjet’s dedicated cabin crew and distinctive inflight cultural performances on special occasions, every journey becomes a memorable travel experience.

People’s Leasing and Finance PLC (PLC), has delivered one of its strongest financial performances to date for the financial year ended 31 March 2026, recording exceptional growth across profitability, assets, lending, deposits and shareholder value while further strengthening its position as one of the country’s most resilient and trusted financial institutions.

Reflecting the success of its growth-focused strategy and disciplined execution, the Company reported a Profit Before Tax (PBT) of Rs. 8.56 billion, representing a significant increase over the previous financial year, while Profit After Tax (PAT) rose to Rs. 5.08 billion, reflecting an impressive 41% year-on-year growth. The strong earnings performance was driven by robust business expansion, higher lending volumes, improved operational efficiency and sustained customer confidence.

The year also marked an unprecedented expansion of the Company’s Balance Sheet. Total Assets surged by more than 65% to Rs. 321.23 billion, making People’s Leasing one of the fastest-growing financial institutions in Sri Lanka during the period. The Loans and Receivables Portfolio expanded to Rs. 275.74 billion, while customer deposits increased to Rs. 165.45 billion, demonstrating growing public confidence in the Company’s financial strength, service excellence and long-term stability.

Further reinforcing its operational excellence, Gross Income increased substantially to Rs. 43.99 billion, while Net Interest Income climbed to Rs. 21.77 billion, reflecting the Company’s ability to capitalise on market opportunities while maintaining prudent risk management practices. At the same time, the Cost-to-Income Ratio improved to 51.16%, highlighting enhanced productivity, operational discipline and improved efficiency across the organisation.

The Company’s financial fundamentals continued to strengthen during the year, with Return on Equity (ROE) improving to 11.30%, Earnings Per Share (EPS) increasing to Rs. 2.30, and Shareholders’ Funds growing to Rs. 47.53 billion, delivering greater value to shareholders while maintaining capital adequacy ratios comfortably above regulatory requirements.

Chairman Professor Ajantha Samarakoon stated that the outstanding results reflect the Company’s strategic vision, disciplined governance and unwavering commitment to sustainable value creation.

Chief Executive Officer/General Manager Sanjeewa Bandaranayake noted that the remarkable performance demonstrates People’s Leasing’s ability to transform opportunities into sustainable growth through customer-centric innovation, prudent financial management and operational excellence. He emphasised that the Company remains committed to expanding financial inclusion, strengthening digital capabilities and delivering long-term value to customers, shareholders and the nation.

Building on this exceptional performance, People’s Leasing and Finance PLC is well positioned to accelerate its growth trajectory, supported by a strong capital base, expanding customer portfolio, continuous digital transformation and diversified financial services ecosystem. As Sri Lanka’s economy continues its recovery, the Company remains committed to empowering individuals and businesses through innovative financial solutions while contributing meaningfully to the country’s economic development and reinforcing its position as a benchmark institution within the non-bank financial services sector.

Further demonstrating its commitment to innovation, transparency and stakeholder engagement, People’s Leasing’s FY2025/26 Annual Report introduces a next-generation AI-powered reporting experience that sets a new benchmark in corporate reporting. Building on last year’s pioneering digital initiatives, the report now features WhatsApp-based access, AI-powered video and text chatbots, dynamic financial data visualisations, interactive QR codes, and multilingual video summaries in Sinhala, Tamil, and English. Demonstrating its commitment to inclusivity, the Company has also introduced sign language-enabled content and a specially developed Braille Report for visually impaired stakeholders. Further enhancing transparency, the report fully complies with the newly adopted SLFRS S1 and SLFRS S2 sustainability disclosure standards, reaffirming People’s Leasing’s commitment to best-in-class corporate governance and sustainability reporting.

People’s Leasing and Finance PLC, with its six subsidiaries, including People’s Leasing Fleet Management Ltd., People’s Micro Commerce Ltd., People’s Insurance PLC, People’s Leasing Property Development Ltd., People’s Leasing Havelock Properties Ltd., and Alliance Finance PLC, Bangladesh, continues to strengthen its diversified financial services portfolio while reinforcing its leadership within the financial services sector.

With a resilient balance sheet, strong capital position, expanding digital capabilities and an unwavering focus on customer-centric innovation, People’s Leasing and Finance PLC is well positioned to sustain its growth momentum and continue creating long-term value for customers, shareholders and the national economy while driving the future of Sri Lanka’s non-bank financial services industry.

Veteran Nollywood actor, Jim Iyke, has claimed that the entertainment industry is largely driven by self-worship and values that do not promote God.

In a recent interview with media personality, Joey Akan, the actor alleged that the industry is dominated by people who place themselves above others and seek admiration rather than serve God.

According to Jim Iyke, many entertainers gradually begin to see themselves as more important than they really are because of the fame and attention they receive.

He admitted that he once experienced the same feeling when fans would cry or faint after seeing him, making him believe he was special.

‘I have been there. I have seen people cry when I walked into a room, and I looked at them and thought I was special. No, you are not,’ he said.

The actor argued that serving oneself instead of God is a form of Satanism, adding that many aspects of the entertainment industry encourage that mindset.

He, however, stressed that it is still possible for entertainers to remain connected to God if they consciously choose to pursue their faith.

Jim Iyke said finding God changed his perspective and helped him realise that true fulfilment comes from a relationship with God rather than fame or public admiration.

He urged people in the entertainment industry to remain grounded and avoid allowing success to become a form of self-worship.

The Millennium City Divisional Police Command has arrested an alleged notorious land guard, Patrick Ndego, who had been on the police wanted list over his alleged involvement in a series of criminal activities that have terrorised residents and property developers in parts of the Gomoa East District of the Central Region.

The suspect, according to the Divisional Police Commander, ACP Issifu Iddrisu Tanko, was apprehended yesterday, at about 11:00 a.m., after months of evading arrest.

Speaking on the arrest, ACP Tanko said the suspect had become notorious for storming construction sites, threatening landowners and developers with the demolition of their buildings, firing gunshots to intimidate victims and demanding huge sums of money before allowing construction works to continue.

He said the suspect’s activities had created fear and panic among residents and developers within the division, resulting in several complaints being lodged against him at various police stations.

According to the Police Commander, the latest arrest followed investigations into a case reported about a month ago in which the suspect allegedly threatened a complainant with a weapon believed to be a locally manufactured gun.

He allegedly fired sporadic gunshots at the site, forcing artisans working on the property to flee for safety before going into hiding.

ACP Tanko said after weeks of intelligence gathering, police spotted the suspect in town yesterday and effected his arrest.

He disclosed that the suspect is currently being processed for court in connection with the latest case, while investigations continue into the numerous complaints lodged against him.

The police have also appealed to members of the public, particularly individuals who may have fallen victim to the suspect’s alleged activities, to visit the Millennium City Divisional Police Command to identify him and assist with ongoing investigations.

‘The general public is invited to come and identify him so that all his pending cases can be processed for court,’ ACP Tanko stated.

He reiterated the command’s commitment to dealing decisively with land guards and other criminals who have taken the law into their own hands and continue to terrorise residents and developers in the area.

ACP Tanko further appealed to the public to volunteer credible information to assist the police in ridding communities of land guards, armed robbers and drug peddlers.

He assured residents that the police would continue to intensify operations to ensure law and order and protect lives and property throughout the division.

The International Foundation for Electoral Systems (IFES) Sri Lanka, in partnership with the Australian High Commission, has launched the second phase of the Strengthening Governance Program (SG2).

Implemented under the Australia-Sri Lanka Governance for Growth Agreement, SG2 aims to strengthen democratic institutions, promote good governance and support evidence-based policymaking, improved public service delivery and greater inclusion of marginalised communities.

The program will support stronger electoral integrity, promote disability inclusion by reducing barriers to participation in governance, and encourage greater representation of women in elected office. Funded by the Australian Government, SG2 forms part of the Australia-Sri Lanka Development Partnership Plan (2025-2030) and will be implemented in collaboration with Government institutions and civil society organisations.

Australian High Commissioner Matthew Duckworth said Australia was proud to support Sri Lanka’s democratic journey, noting that strong democratic governance is fundamental to national progress. He said free and fair elections are central to ensuring citizens’ voices are heard and highlighted Australia’s long-standing support for subnational governance and its partnership with the Election Commission to promote safe, inclusive and credible elections.

Parliamentary Caucus for Persons with Disabilities Chairperson Sugath Wasantha de Silva said the first phase of the program had strengthened disability-inclusive governance through enhanced policy engagement, district-level consultations and collaboration with Government institutions. He said the second phase would further institutionalise inclusive participation mechanisms.

Election Commission Commissioner A.M. Faaiz said the program had contributed to making elections more responsive to emerging risks while supporting key reforms, including the operationalisation of the Commission’s Disability and Inclusion Unit.

Ministry of Rural Development, Social Security and Community Empowerment Secretary Sampath Manthrinayake said the first phase had delivered improvements in sign language services, accessibility standards and frameworks to promote equitable access to public services.

IFES Sri Lanka Country Director Silja Paasilinna said SG2 would build on the results of the first phase by supporting locally led reforms aimed at strengthening democratic institutions and embedding inclusive participation across Sri Lanka.

The launch brought together representatives from the Government, Parliament, the Election Commission, civil society organisations, development partners and the Australian High Commission. The second phase of the program will run from 2026 to 2028.

Child sexual abuse remains one of the most hidden and harmful crimes affecting communities across the world. It often happens not in isolated, obvious situations, but in familiar environments where children are expected to feel safe in schools, neighborhoods, online spaces, and even within extended family networks. Experts define child sexual abuse as any sexual act imposed on a child who cannot fully understand, consent to or protect themselves from exploitation. The harm is not always physical. In many cases, it is psychological, emotional and deeply long-lasting.

Who are the offenders? Understanding the term ‘Pedophile’

In psychology, a ‘pedophile’ refers to an individual who has a persistent sexual attraction to prepubescent children. However, professionals emphasise an important distinction, not everyone with such harmful attractions commits abuse, but child sexual abuse offenders are those who act on it. In legal and law enforcement contexts, people who commit these crimes are often referred to as child sexual offenders or abusers. Their behavior is defined by actions, exploitation, manipulation, and violation of a child’s boundaries, regardless of labels. In past decades, concerns around child safety were largely tied to physical proximity and familiar surroundings. Today the world has changed. With widespread access to social media, messaging apps and online platforms, children are more connected than ever before but also more exposed to risks that are harder to see and control. Authorities stress that abuse is rarely random. It is often intentional, calculated, and based on exploiting trust and vulnerability.

How abuse typically develops, the role of grooming

Rather than using immediate force, many offenders rely on a gradual process known as grooming. This is a pattern of behavior designed to build trust with a child and often with their family over time. It may begin with attention, kindness or emotional support that seems harmless. The offender may position themselves as a trusted figure, someone who listens, helps, or gives special treatment. Slowly, boundaries are tested. Secrecy may be introduced, making the child feel that certain interactions should not be shared with others.

What makes grooming so dangerous is its subtleness. From the outside, nothing may appear wrong, while the child is being gradually manipulated into confusion, dependency, or silence. Children rarely disclose abuse immediately. Fear, confusion, shame, or emotional manipulation often delay disclosure. Instead, warning signs may appear through behavior changes. These can include withdrawal from friends or family, sudden anxiety, unexplained fear of certain individuals or places, aggression, or changes in school performance. Some younger children may also show regression in behavior. While none of these signs confirm abuse on their own, they become significant when they appear in combination or alongside concerning circumstances.

Silence is one of the main reasons abuse continues unchecked. Many children do not speak up because they fear punishment, disbelief, or blame. Others may be manipulated into believing they are responsible, or that no one will understand them. This silence can allow abuse to continue for extended periods, increasing the emotional and psychological damage. Creating safe, non-judgmental spaces for disclosure is therefore essential. When a child speaks, how adults respond can determine whether healing begins or whether silence continues.

Prevention starts with awareness

Preventing child sexual abuse requires more than reaction it requires education and communication. Children who are taught about personal boundaries, safe and unsafe behavior, and the right to say no are better prepared to recognise inappropriate actions. Equally important is open communication. Children need environments where they can talk about their experiences without fear. In today’s digital world, this also includes online safety. Many forms of exploitation now begin through messaging apps, games, and social media platforms, making awareness and supervision more important than ever. Child protection is not the responsibility of one institution alone. Families, schools, healthcare professionals, and law enforcement all play a role in identifying risk and responding early. Reporting concerns, even uncertain ones can be critical in preventing further harm. Strong legal systems are necessary, but they must be supported by informed communities willing to act. The impact of child sexual abuse can last well into adulthood, affecting mental health, relationships, and emotional stability. However, early intervention and support can significantly reduce long-term harm. Ending this cycle depends on awareness, courage, and responsibility: recognising warning signs, believing disclosures, and refusing to ignore concerns that could protect a child. Protecting children is not only a legal duty it is a collective responsibility rooted in awareness, vigilance, and action.