Category: Daily Financial Times

Colombo Athletic has made history as the first academy team from Sri Lanka invited to participate in the prestigious IBER Cup, one of the world’s most important global youth tournaments.

The competition brings together one hundred and twenty teams from close to forty countries each year and has served as a launching pad for many current professional players who count it among their career highlights.

In their debut appearance, Colombo Athletic secured two wins out of four matches during the group stages before advancing to the knockout round, where they faced tough opposition but ultimately fell short. The group stage lineup was particularly challenging, featuring three Portuguese teams and one Spanish team. They faced top ranked Portuguese, Spanish and UAE academy teams. This makes Colombo Athelteic an IBER Cup ranked team, with its credentials there.

The academy views this as a crucial learning experience and the beginning of something significant. The achievement is bolstered by Colombo Athletic’s collaboration with AC Milan, with players trained at AC Milan camps in both Colombo and Milan, ensuring they develop according to the Milan method.

Speaking on the achievement, Colombo Athletic Football Academy President Ajai Vir Singh said: ‘This is a very proud moment. We frankly never expected to go beyond the group stages. We played three Portuguese teams and a Spanish team in our group stages. We never thought we’d get past them. The fact that we did is a testimony to how well the boys played and the kind of football we are teaching. We are looking forward to more from here onwards as we keep pressed on our goal to develop.’

This first European outing represents a major milestone in the academy’s development plan to introduce a new footballing culture in Sri Lanka among the next generation. Colombo Athletic Football academy trains every week and is open for Boys and Girls aged 5-17 to enroll so they develop on its methodology.

India Under19 Women completed a clean 3-0 sweep of the Under19 unofficial ODI series against Sri Lanka Under19 Women when they won the third and final match played under lights by eight wickets at Puducherry on Sunday.

Electing to bat first Sri Lanka were bowled out for 159 in 48.5 overs with opener Vimoksha Balasuriya making a top score of 62 off 77 balls (8 fours).

Balasuriya and Nethagi Isuranjali (24) added 57 for the third wicket to place Sri Lanka in a sound position at 100-2 in the 20th over. But off-spinner Mahak Narwase broke the stand by taking the wickets of Isuranjali and Manudi Nanayakkara (0) in one over. Sri Lanka also lost two more wickets in the 29th over including that of Balasuriya and the innings quickly folded up.

India raced to their target using only 18.2 overs with Ishwari Awasare (75* off 53 balls, 8 fours, 3 sixes) and Nidhi Mahto (54 off 25 balls, 9 fours, 2 sixes) putting together a partnership of 74 off 41 balls.

Sri Lanka also lost the three-match unofficial U19 T20 series 3-0 to India.

Scores:

India U19 Women 159 (48.5) (Vimoksha Balasuriya 62, Nethagi Isuranjali 24, Janhavi Virkar 3/33, Mahak Narwase 2/19, Kumari Palak 3/13)

India U19 Women 161-2 (18.2) (Ishwari Awasare 75*, Nidhi Mahto 54)

HNB Life PLC entered a Memorandum of Understanding (MoU) with the Government Medical Officers’ Association (GMOA), marking the beginning of a strategic collaboration aimed at delivering enhanced value and protection solutions to medical professionals across Sri Lanka.

Through this collaboration, GMOA members will gain access to tailored life insurance solutions from HNB Life, complemented by a range of exclusive benefits and value-added features designed to support their long-term financial security and protection needs.

HNB Life PLC Executive Director/Chief Executive Officer Lasitha Wimalaratne said, ‘At HNB Life, we are committed to creating meaningful solutions that address the evolving needs of different customer segments. This MoU signing with GMOA represents an important step in extending specialised protection and wealth creation opportunities to Sri Lanka’s medical community. We are pleased to collaborate with GMOA and offer enhanced benefits, enabling members to secure their future and that of their loved ones with greater confidence.’

GMOA President Dr. Sanjeewa Tennekone said, ‘The wellbeing and financial security of our members remain a priority for the GMOA. We are pleased to enter into this collaboration with HNB Life, which offers our membership access to a tailored solution with added benefits. We believe this initiative will provide meaningful value and support our members in planning for their long-term financial goals.’

HNB Life PLC Executive Vice President/Chief Business Officer Adviser – Distribution Harindra Ramasinghe said, ‘Medical professionals dedicate their lives to caring for others, and it is equally important that they have access to financial solutions that safeguard their own future. Through this collaboration, we are able to provide GMOA members with a comprehensive proposition that combines investment, protection, long-term value, and exclusive benefits designed to complement their professional and personal aspirations.’

GMOA Secretary Prabath Sugathadasa said, ‘This collaboration with HNB Life reflects our ongoing commitment to identifying opportunities that enhance the overall wellbeing of our members. Beyond professional development, financial security is an important aspect of long-term stability for medical professionals. We are pleased to collaborate with HNB Life to provide our members with access to tailored life insurance solutions and exclusive benefits that will support them in planning for the future with confidence.’

The Canadian Chamber of Commerce in Sri Lanka (CanCham Sri Lanka) recently celebrated Canada Day at Cinnamon Grand, marking the 159th anniversary of Canadian Confederation while bringing together diplomatic representatives, business leaders and private sector stakeholders to discuss bilateral trade, investment and Sri Lanka’s positioning within Indo-Pacific value chains.

The event reflected CanCham Sri Lanka’s role as a business platform established with the approval and support of Global Affairs Canada, aimed at expanding Canadian commercial engagement and supporting Sri Lanka’s integration into regional economic networks.

Strengthening bilateral ties

Canadian High Commissioner to Sri Lanka and Maldives and CanCham Sri Lanka, Patron Isabelle Martin, addressing the gathering, said Canada remained committed to strengthening engagement across trade, investment and development cooperation. She described Canada as a bilingual, multicultural and forward-looking country, built on indigenous lands and shaped by people from around the world, adding that the relationship with Sri Lanka was supported not only at government level but also through business, institutional and people-to-people links.

Martin said Canada Day was an occasion to reflect on shared values, including respect for diversity, protection of human rights, and commitment to peace, inclusion and reconciliation, which she said Canada was proud to share with Sri Lanka and the Maldives.

The High Commissioner said she had observed growing interest among Canadian companies and investors exploring opportunities to expand trade and investment in Sri Lanka, a trend she said was reinforced during a recent visit to Canada where she met stakeholders committed to strengthening bilateral ties. She added that following the country’s recent economic challenges, the resilience of the Sri Lankan people had been inspiring, and that Canada remained committed to supporting the country’s recovery and long-term development.

She further stressed that the Indo-Pacific region had become increasingly central to global economic activity, and that Canada’s engagement strategy reflected this shift. Martin said stronger collaboration between business communities was essential to unlocking growth potential, adding that chambers of commerce such as CanCham Sri Lanka played a critical role in translating policy direction into practical economic cooperation. She thanked the Chamber for its efforts in strengthening ties between the two countries. Canadian High Commissioner Isabelle Martin and CanCham Founder Priyantha Chandrasekara

Founding of CanCham Sri Lanka

CanCham Sri Lanka Founder and Board Member, Mohamed Hameez, delivering the welcome address, outlined the Chamber’s establishment and progress since its formation on 21 December 2025 with the approval and support of Global Affairs Canada and the High Commission of Canada in Sri Lanka. He said the Chamber’s founding board included representatives from the private sector in both Sri Lanka and Canada, reflecting a cross-border institutional structure, and that it was created to serve as a strategic economic bridge between the two countries.

Hameez said the Chamber had achieved several milestones since its establishment six months ago, expanding its operational footprint through a second office, a nationwide membership campaign and sector-focused initiatives spanning tourism, global health, information technology, education and skills development. ‘What we have delivered in the last six months is proof, not promise,’ he said, referring to partnerships with Saskatchewan in global health, participation in the Indo-Pacific chamber network and a development roundtable with the International Centre for Entrepreneurship and Career Development.

He said the Chamber’s corporate social responsibility efforts had included support for more than 75 differently-abled students at a school in Matale in partnership with Lions Clubs International District 306. He added that scholarship programs for students from underserved and low-income backgrounds are among the Chamber’s planned initiatives.

Looking ahead, he announced that the Chamber would organise a business delegation to Canada later in the year, covering Toronto, Montreal and Vancouver, aimed at promoting Sri Lanka as a destination for foreign investment across tourism, real estate, fintech and education. He said this would be followed by an ocean cleanup initiative alongside the Chamber’s first anniversary celebrations toward the end of the year, and a climate-focused sustainable development forum planned for early 2027, alongside preparations for a CanCham Economic Forum intended to strengthen investment, innovation and inclusive economic growth.

Hameez said the Chamber was working with more than 20 Canadian chambers and business networks across the Indo-Pacific region to establish a unified platform for trade and investment cooperation. ‘The Indo-Pacific is calling, and Canada and Sri Lanka must respond together,’ he said.

During the event, CanCham SL – Building Bridges for Economic Partnerships Between Canada, Sri Lanka and the Indo-Pacific Region was screened, outlining the Chamber’s strategic direction and its focus on positioning Sri Lanka within wider regional value chains.

This was followed by a panel discussion themed ‘Canada Day Dialogue: Aligning with Canada’s Indo-Pacific Strategy – Building Resilient Value Chains in Energy, Tech, Manufacturing and Tourism.’ The panel featured Former Finance Minister Eran Wickremaratne; Design Corp Group of Companies (Academy of Design – AOD) Founder and Chairperson Linda Spendawinde; and Classic Destinations (Expolanka Holdings PLC) Head of Destinations, UNWTO Committee on Tourism and Competitiveness Vice Chair, and Sri Lanka Tourism Promotion Bureau Former Chairman, Chalaka Gajabahu. Discussions centred on trade facilitation, investment flows and sectoral cooperation across energy, technology, manufacturing and tourism, reinforcing the broader Indo-Pacific framework referenced throughout the evening.

Five-Year Strategic Tourism Development Plan

A key highlight of the event was the presentation of the Five-Year Strategic Tourism Development Plan, prepared by the CanCham Sri Lanka Tourism Core Group. The plan was formally handed over to the High Commissioner and Chamber leadership. The Chamber noted that the draft strategy would undergo consultation with key stakeholders and was expected to be finalised within 60 days, positioning it as part of broader efforts to support Sri Lanka’s tourism sector through investment, marketing cooperation and institutional linkages.

The Chamber stressed the importance of aligning bilateral engagement with broader Indo-Pacific economic trends, particularly in trade facilitation, investment cooperation, institutional partnerships and expanding Canadian business presence in Sri Lanka and the region. It also noted Canada’s commitment of approximately CAD 500 b to strengthen Indo-Pacific economic engagement over the next decade, reiterated during an Indo-Pacific Chamber collaboration initiative in April 2026.

CanCham Sri Lanka said it will continue advancing its sector programs and international partnerships in the months ahead, while preparing for an outbound business mission to Canada and a series of policy and investment forums aimed at deepening bilateral economic cooperation. The Chamber reiterated its call for stronger Indo-Pacific collaboration, pointing to its focus on trade, investment and sustained engagement between Canada and Sri Lanka.

The secondary Bond market yesterday started off a fresh trading week on a slow note. Activity was dull while transaction volumes were seen dipping considerably as the market was at a virtual standstill. The limited trades were seen at prevailing levels as yields continued to consolidate.

The 01.08.30 maturity traded at the rate of 11.25%. The 15.01.33 and 01.11.33 maturities traded at the rates of 11.60% and 11.66% respectively. The 15.03.35 maturity traded at the rate of 11.70% and the 15.06.35 maturity at the rate of 11.75%.

In the money market, the net liquidity surplus increased to Rs. 132.29 billion yesterday against its previous days Rs. 128.47 billion. An amount of Rs. 112.29 billion was deposited at Central Banks SDFR (Standing Deposit Facility Rate) of 8.25%.

In addition, the Domestic Operations Department (DOD) of the Central Bank of Sri Lanka drained out an amount of Rs. 20 billion by way of overnight repo auction at a weighted average rate of 8.75% as against an offered amount of Rs. 4 billion.

The weighted average rates on overnight call money and Repo were recorded at 9.18% and 9.21% respectively.

Forex market

The USD/LKR rate on spot contracts was seen closing the day appreciating further to Rs. 334.90/335, from its previous days close at Rs. 335.20/335.30.

The total USD/LKR traded volume for 3 July was $ 88.25 million.

Launch of Dialog Pay (from left to right) Supun Weerasinghe, Director / Group Chief Executive, Dialog Axiata PLC; Renuka Fernando, Group Chief Digital Services Officer, Dialog Axiata PLC; Navin Pieris, Group Chief Officer, Dialog Enterprise; Lasantha Theverapperuma, Group Chief Marketing Officer, Dialog Axiata PLC

Advancing Sri Lanka’s Digital Economy Through Integrated Digital Payments

Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, today announced the launch of Dialog Pay, an integrated platform within the MyDialog App that brings together connectivity, payments and financial services, marking another significant milestone in its journey to enrich and empower Sri Lankan lives and enterprises through technology. Supporting the recently launched Lanka QR Payment Promotion Programme of the Government of Sri Lanka, Dialog Pay aims to drive the shared ambition of accelerating digital payment adoption and building a more financially inclusive digital economy. Through a single, seamless digital experience, Dialog Pay makes it easier for customers to manage payments and financial services, encouraging digital payments to become a natural part of everyday life.

Built on one of Sri Lanka’s largest digitally enabled merchant ecosystems, Dialog Pay enables secure and convenient Lanka QR payments across more than 100,000 retail outlets spanning supermarkets, restaurants, fashion retailers, electronics stores, healthcare providers and thousands of neighbourhood businesses across Sri Lanka. Whether shopping for groceries, dining out or making everyday purchases, customers can enjoy the convenience of secure digital payments across the places they visit most, while enabling merchants to participate in Sri Lanka’s growing digital economy.As part of this launch, Dialog is rebranding Genie as Dialog Pay, reflecting the evolution of its digital payments platform into a broader digital financial ecosystem. Available through the Dialog Pay App and the MyDialog App, customers can conveniently activate Dialog Pay using their eZ Cash account or by linking their preferred bank account, enabling them to make LankaQR payments, transfer funds, access their digital wallet, open savings accounts and fixed deposits, and apply for loans powered by Dialog Finance, all without the need to switch between multiple applications for their everyday connectivity and financial needs.

To encourage greater everyday adoption, customers who use Dialog Pay for eligible Lanka QR payments will enjoy complimentary Dialog data rewards, creating additional value while encouraging trial, repeat usage and long-term digital payment habits.

Commenting on the launch, Supun Weerasinghe, Group Chief Executive of Dialog Axiata PLC, said, ‘At Dialog, we have always believed that our role extends beyond connecting people to enriching and empowering Sri Lankan lives and enterprises through technology. Dialog Pay reflects that commitment by making digital payments and financial services simpler, more accessible and rewarding for every Sri Lankan, while encouraging greater participation in the country’s evolving digital economy. We commend the Government of Sri Lanka, the Ministry of Digital Economy, the Central Bank of Sri Lanka and LankaPay for their leadership and continued commitment to advancing the country’s digital transformation and digital payments ecosystem. We are thankful to our partners for joining us in this national initiative and look forward to working alongside all stakeholders to accelerate digital payment adoption across the country.’

Dialog Pay builds on Dialog’s continued commitment to creating technology-driven solutions that enrich and empower Sri Lankan lives. Combining one of Sri Lanka’s largest merchant acceptance networks with digital financial services and meaningful customer rewards, Dialog Pay is making everyday digital payments more accessible, convenient and rewarding, helping accelerate the country’s transition towards a more inclusive and digitally empowered economy.

Melco Resorts and Entertainment, a globally recognised leader in luxury integrated resorts, continues to redefine destination hospitality through a portfolio that spans Asia and Europe. With six landmark integrated resorts across Macau, Manila, Cyprus and Colombo, Melco has built a reputation for world-class design, exceptional service, elevated dining and immersive entertainment experiences.

For Sri Lankan travellers and regional audiences, this global legacy now has a home in Colombo through City of Dreams Sri Lanka, South Asia’s first integrated resort and Melco’s newest destination in the region.

At the heart of Melco’s portfolio is City of Dreams Macau, the company’s flagship integrated resort and one of Asia’s most distinctive luxury destinations. It is home to Morpheus, the iconic architectural landmark designed by the late Dame Zaha Hadid, and the reimagined House of Dancing Water, a spectacular live entertainment production that has become synonymous with Macau’s appeal as a global leisure capital.

Also in Macau, Studio City brings together cinema, entertainment and hospitality in a Hollywood-inspired setting. Known for its bold Art Deco architecture and immersive guest experiences, Studio City is anchored by signature attractions including the iconic Golden Reel, the world’s first figure-eight Ferris wheel, standing as one of Macau’s most recognisable entertainment landmarks.

Altira Macau reflects Melco’s commitment to refined luxury and service excellence. A 17-time Forbes Travel Guide Five-Star hotel and spa, Altira is home to Ying, the Michelin-starred Cantonese restaurant, and Tenmasa, the Forbes Five-Star Japanese restaurant. Together, they represent Melco’s pursuit of exceptional hospitality, wellness and culinary craftsmanship.

In the Philippines, City of Dreams Manila has elevated the country’s luxury hospitality landscape since opening in 2014. Overlooking Manila Bay, the dynamic urban resort brings together premium accommodation, curated dining, entertainment and leisure experiences, strengthening Manila’s position as a leading lifestyle and tourism destination in Southeast Asia.

Melco’s presence in Europe is led by City of Dreams Mediterranean in Cyprus, Europe’s first and largest integrated resort. Located in Limassol, the destination has introduced a new benchmark for premium hospitality in the region, positioning Cyprus as a year-round travel destination for leisure, entertainment, events and luxury tourism.

Completing this global journey is City of Dreams Sri Lanka, a landmark development that brings Melco’s international expertise to Colombo. Featuring the luxury Nwa hotel, world-class entertainment offerings, premium dining, retail and leisure experiences, City of Dreams Sri Lanka represents a bold new chapter for the country’s tourism and hospitality sector.

City of Dreams Sri Lanka reflects the same spirit that defines Melco’s global portfolio: excellence, innovation and unforgettable moments. From Macau to Manila, the Mediterranean and now Sri Lanka, every Melco destination tells a story of vision and ambition, creating experiences that go beyond hospitality to shape the future of luxury travel.

Benedictine athletes proved once again that they are unbeatable in school athletics, repeating their success in 2025 to emerge Relay Champions at the Relay Carnival concluded at the Diyagama International Stadium over the weekend. With this achievement, Benedictines have won this glamour event of the Schools Athletics Calendar for the 4th time in the last decade.

The Benedictines displayed their brilliance on the track in all age groups, which resulted in winning the Championship by a huge margin once again this year. They were declared under-12 champions, runners up in under-14, under-16 champions and under-20 champions.

They set 2 new records, winning the under-16 short medley relay in 2m 02.03 secs and the under-20 – 4 × 400 m relay in 3m 13.90secs. Their record breaking effort in the customary under-20 – 4 × 400 m relay was an all island record, surpassing the timing for this event by any school previously at any athletic championship. It was a fitting finale to an excellent meet very well organised by the Sri Lanka Schools Athletics Association together with the generous sponsor Hiru TV and radio networks. All events were worked out on schedule and the awards presentation concluded in style.

The dominance of St. Benedict’s College consistently in the schools athletics scene in the last decade is attributed to the excellent coaching and support staff led by the dynamic MIC/Head Coach Nuwan Abeywickrema.Their steadfast commitment, hard work and scientific training methods, have resulted in bringing out the best in the athletes under their care and continuously bringing glory to their Alma Mater. The Benedictines won 4 gold medals, 8 silver and 4 bronze medals at this meet.

New York New Jersey was hosting its penultimate match of the tournament, with the next fixture being the 19 July final. Norway stand now just two matches from reaching that decider, having downed Brazil in the Round of 16, on the back of Erling Haaland’s sixth and seventh tournament goals. Those goals move him level with Kylian Mbappe and Lionel Messi as the race for the adidas Golden Boot heats up.

In mid-afternoon sunshine, the Seleção survived an early Patrick Berg chance before they had a golden opportunity to go ahead just shy of the quarter hour. Kristoffer Ajer mistimed a challenge on Matheus Cunha and after a VAR review, Brazil were awarded a penalty. Initially, Vinicius Junior had possession of the adidas TRIONDA before passing it to Bruno Guimaraes, who saw his shot saved down low to his left by the firm hands of Orjan Nyland.

The 35-year-old Norwegian keeper was a keen handball player in his youth, but it was his legs that denied firstly Gabriel Martinelli and then Vinicius Junior to send the teams to the break with the score unbroken.

One of Norway’s chief creative threats, Antonio Nusa, was withdrawn at the interval but it was a Brazilian substitute, Endrick, that spurned a huge chance to break the deadlock. Fifty-two seconds after his arrival, the teenage forward was sent through on goal by a surgical Vinicius Junior pass, only for a heavy first touch to lead to a mis-placed shot.

The Volda Viking then produced another pair of fine saves to thwart firstly Rayan and then Bruno Guimaraes before Norway struck.

Andreas Schjelderup, the man who came on for Nusa, broke free down the left after a slick seven-pass sequence and stood up the perfect cross for Haaland to smash a downward header past Alisson.

Haaland then grabbed a second right at the end of regulation time as he steered a shot through the legs of Danilo and past a diving Alisson to spark jubilant scenes among the throng of Norway supporters.

A late Neymar penalty, coming in the tenth minute of stoppage time, was nothing more than a consolation as Brazil made their earliest World Cup exit since 1990, while Norway reach the last eight for the first time.

A quarter-final date with England, in Miami on 11 July, now awaits Stale Solbakken’s side.

England overcame co-hosts Mexico in a thrilling, incident-packed last-16 tie to set up a FIFA World Cup 2026 quarter-final showdown with Norway.

The Three Lions prevailed despite playing for most of the second half with ten men following Jarell Quansah’s 54th-minute red card. Backed by a feverish home crowd, co-hosts Mexico fought tirelessly in their bid to reach first quarter-final in 40 years, but England held on to keep their title dreams alive.

Mexico dominated possession in the game’s opening stages, but a quick-fire Bellingham double swung the game in England’s favour.

First, he headed in from Bukayo Saka’s inviting cross to open the scoring. Almost straight from kick-off, Bellingham made it 2-0. Mexico turned over possession and Harry Kane set up the Real Madrid superstar to slot home.

Mexico City Stadium was shellshocked, but El Tri quickly responded, with Julian Quinones crashing an unstoppable shot past Jordan Pickford from close range. The co-hosts’ tails were up and only a spectacular Pickford save prevented Raul Jimenez from levelling before half-time.

The action was unrelenting, and it continued after the interval. Nico O’Reilly struck the post with a low drive, before Quansah was sent off for a challenge on Jesus Gallardo.

Moments after England were reduced to ten men, Mexico goalkeeper Raul Rangel brought down Anthony Gordon in the penalty box. The spot-kick was awarded and Kane stepped up to rifle in his sixth goal of the tournament.

Kane would soon be involved in more penalty drama at the other end of the pitch. A foul by the England skipper on Brian Gutierrez resulted in a penalty been awarded to Mexico following a VAR review. Jimenez made no mistake from 12 yards and the co-hosts were back within striking distance at 3-2.

El Tri piled on the pressure in search of an equaliser which would have taken the game to extra-time. England held firm, though, and can look forward a last-eight clash with Norway in Miami on Saturday, 11 July.

The Central Bank of Sri Lanka (CBSL) said, acting in terms of the Regulations made under the Registered Stock and Securities Ordinance and the Local Treasury Bills Ordinance, it has decided to extend the suspension of Perpetual Treasuries Ltd., (PTL) from carrying on the business and activities of a primary dealer.

Accordingly, the suspension has been extended for a further period of six months with effect from 4.30 p.m. on 5 July 2026, in order to continue the investigations being conducted by the CBSL.