Govt. needs to address root causes that lead to prisoner unrest

Sri Lankan prisons are like an overheated pressure cooker waiting to explode.

Conditions within prisons have been appalling for years, and the tragic incident at Negombo Prison is a repetition of what the country has witnessed over the years, with prisoners revolting against the poor and inhumane conditions under which they are held, the end result being the tragic loss of lives. The deaths of seven prison officials, along with 20 inmates, are deeply disturbing.

The Government has appointed a committee to look into the circumstances that led to the violence and submit a report, but such reports have been compiled in the past too and have ended up in a record room somewhere, with their recommendations soon forgotten.

The Government in power has to take responsibility for what happened, and the onus is on it to take remedial action. There will certainly be political fallout for the Government due to this incident, the worst such loss of life since the National People’s Power (NPP) took office. No doubt it has shaken the party leadership, given the somewhat complacent manner in which it has been going about its business since taking office nearly two years ago.

It was less than two weeks ago that President Anura Kumara Dissanayake boasted that under his Government there had been no use of tear gas to break up protests, but in this case tear gas would certainly have been preferable to the live bullets that felled more than two dozen men.

In 2026, Juan E. Méndez, the UN Special Rapporteur on torture and other cruel, inhuman or degrading treatment or punishment, visited Sri Lanka. If one reads through his report following the fact-finding mission, it is clear that there are many things wrong with our prison system.

The UN official noted that prison detention conditions were more than deplorable, and that deficient infrastructure, overcrowding, lack of adequate sleeping accommodation, poor ventilation and extreme heat combined to constitute a form of ‘cruel, inhuman and degrading treatment.’

The Human Rights Commission of Sri Lanka (HRCSL) led the first national study of prisons a few years ago, in which it found that the conditions under which prisoners are held do not meet basic standards and, in many instances, are inhumane and constitute degrading treatment.

Sri Lanka is a signatory to the Mandela Rules, the United Nations Standard Minimum Rules for the Treatment of Prisoners. However, the country remains far behind in implementing them on the ground.

The country’s prison population consists mostly of poor and marginalised people. This means prisons are, more or less, a poor person’s problem. Delays in the administration of justice mean people are locked up for years without trial, leading to overcrowding.

There are hundreds in prison simply because they are unable to pay bail. There are also many who have been incarcerated when they should instead be in rehabilitation centres, not behind prison walls with hardened criminals, a situation that often pushes young men and women further into a life of crime.

Justice Minister Harshana Nanayakkara, himself a lawyer, must have a good understanding of how the country’s judicial system works. His suggestion that there should be more prisons is an archaic and backward idea. In most developed countries, prisons are being closed under systems that reserve incarceration primarily for hardened criminals and repeat offenders.

The Minister should not be talking about building new prisons but should instead focus on expediting cases and releasing men and women who pose no threat to society.

The public, too, need to be more humane in the way they view prisoners. The majority are misguided men and women who deserve a better chance at rebuilding their lives outside prison walls. They deserve empathy from the public, not scorn and judgement.

HRCSL directs Prisons Chief to protect inmates; ensure access

The Human Rights Commission of Sri Lanka (HRCSL) has directed the Commissioner General of Prisons to take immediate measures to protect inmates and ensure full cooperation with the Commission’s ongoing investigation into the violence at Negombo Prison and subsequent incidents reported at other prison facilities.

The Commission in a statement issued yesterday expressed serious concern over allegations that inmates transferred from Negombo Prison to several other prisons had been subjected to torture and other forms of ill-treatment. It also raised concern over the reported death of an inmate in the custody of Welikada Prison officials and the denial of access to an HRCSL Rapid Response Unit that visited Welikada Prison on the night of 7 July.

Reaffirming its statutory powers under the Human Rights Commission of Sri Lanka Act, No. 21 of 1996, the HRCSL instructed the Commissioner General to ensure unrestricted access for HRCSL officers to all prisons, protect inmates from reprisals, preserve all relevant evidence, conduct prompt and impartial investigations into the allegations, and fully cooperate with the Commission’s investigation.

CSE slides for seventh straight session

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%.

Dr. Ellen Ohene-Afoakwa Elected New CIB Ghana President

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 Int’l Divine Lunga Escapes Gun Attack In Johannesburg

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.

SLID to enhance collaboration with SEC

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.

Vietjet’s July Double Day Sale offers Lankan travellers $ 90 flights to Vietnam

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 records stellar performance in FY 25/26

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.

Helabhoomi Products Ltd’s Business Manager and seasoned professional in organic food import

Helabhoomi Products Ltd’s Business Manager and seasoned professional in organic food import, strategic marketing and finance Saliya Kulasekara (right) recently met with Industry and Entrepreneurship Development Deputy Minister Chathuranga Abeysinghe during a business forum at the Port City Colombo. Helabhoomi specialises in the export of 100% organic products from Sri Lanka to consumers to Western Europe

SLBF to hold Sri Lanka Brand Conclave on 28 July

The Sri Lanka Brand Forum (SLBF) has announced the launch of the Sri Lanka Brand Conclave, introducing what it describes as the country’s first integrated branding ecosystem dedicated to advancing branding, marketing and innovation.

The initiative, which was designed as a long-term national platform rather than a stand-alone conference, brings together academia, industry leaders, global experts, and emerging talent to boost Sri Lanka’s long-term economic competitiveness and develop the country’s brand-building capabilities.

Beyond the annual Conclave, the ecosystem offers year-round learning, collaboration, and professional development opportunities for Sri Lanka’s marketing and business community through initiatives like the Brand Academy, Quarterly Marketers Meet, LinkedIn Community, and Digital Knowledge Book, and Student Brand Challenge.

The Sri Lanka Brand Conclave aims to offer useful insights from internationally renowned experts along with successful local case studies as businesses navigate accelerating digital transformation, artificial intelligence and changing customer expectations. The platform’s goal is to provide business leaders, marketers, and entrepreneurs with the knowledge and strategies needed to build stronger, more competitive brands. It will also explore how artificial intelligence, purpose-driven branding, creativity and digital communities are reshaping how organisations build trust, engage consumers and compete in global markets.

The inaugural Conclave on 28 July at the Cinnamon Grand will bring together leading practitioners and experts from around the world to discuss branding and marketing’s future, giving Sri Lankan businesses practical strategies for competing in a market that is becoming increasingly dynamic.

Featured speakers include Dr. Prem Shamdasani of the National University of Singapore (NUS) Business School, Thomas Barta of the Marketing Leadership Institute, Tay Guan Hin of The One Club for Creativity, together with experts from TikTok South Asia, Kantar, Cannes Lions and leading Sri Lankan organisations.

Brand Academy and the Quarterly Marketers Meet will provide professionals with continuous learning opportunities throughout the year, while the Student Brand Challenge will connect university students with real-world branding challenges, recognising that future competitiveness also depends on developing the next generation of marketers. The LinkedIn Community and Digital Knowledge Book will further extend access to industry knowledge and encourage ongoing collaboration between business leaders, academics and practitioners. Collectively, these initiatives are designed to establish an ongoing stream of knowledge, collaboration, and talent development, ensuring that Sri Lanka’s capability for brand-building is strengthened much beyond a single annual event.

Sri Lanka Brand Forum Co-Founder Rohan Somawansa said: ‘Countries that compete successfully on the global stage are supported by strong brands, innovative businesses and talented marketers. Sri Lanka has all three ingredients, but we need stronger platforms that continuously combine industry, academia and international expertise. The Sri Lanka Brand Conclave has been created to build that foundation, not for a single event, but as a year-round ecosystem that equips businesses, marketers and future leaders to build brands that contribute to sustainable national growth.’

The launch represents the Sri Lanka Brand Forum’s wider commitment to developing platforms that advance branding excellence, encourage knowledge sharing, and support innovation throughout Sri Lanka’s business landscape. It also builds on the success of the Forum’s inaugural industry event.

As Sri Lanka seeks new pathways for sustainable economic growth, the Sri Lanka Brand Forum believes stronger brands will be an essential competitive advantage, not only for individual businesses, but for the country as a whole.