Category: Daily Financial Times

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.

The Export Development Board last week bid farewell to Renuka Weerakoon who retired as the Director General of the Board of Investment. Here EDB Chairman and Chief Executive Mangala Wijesinghe (right) presents a memento to Weerakoon at a ceremony at the EDB.

Neranjan Dissanayake is the owner and Managing Director/CEO of TechNeura Labs, building on a distinguished career that includes leadership roles as CTDO and CEO at Just in Time Group. His extensive professional background spans industry giants such as Trend Micro, NAble, Stretchline, and Dialog Axiata. An alumnus of the University of Moratuwa, he has furthered his expertise through elite institutions including Oxford, MIT, Johns Hopkins, Indian Institute of Management Calcutta, and Sri Lanka Institute of Directors. As a recognised expert in Cybersecurity and Artificial Intelligence, Dissanayake holds numerous professional certifications and maintains active memberships in prestigious bodies like SLASSCOM, ISACA, and the Cloud Security Alliance. He also contributes to the Digital Trust Alliance and the Sri Lanka Singapore Business Council, leveraging his deep technical knowledge to drive innovation across the regional tech landscape.

Antigua: West Indies were battling towards respectability at 168 for 4 after lunch on the third day of the second Test against Sri Lanka.

Shai Hope (10*) and Justin Greaves (13*) were at the crease looking to rebuild the innings after three wickets fell during the day.

Prabath Jayasuriya (2/38) claimed two wickets either side of lunch, while Asitha Fernando took the only wicket of the morning session to improve his match figures to 2 for 48. Jayasuriya dismissed Kavem Hodge for 31 and Amir Jangoo for 9.

Resuming on 58 for 1, the hosts made steady progress through an 89-run second-wicket stand between John Campbell and Hodge.

The pair negotiated the opening hour with disciplined batting before Sri Lanka claimed the only wicket of the morning session shortly before lunch. Campbell top-scored with a patient 72 before becoming Fernando’s second wicket of the innings.

Sri Lanka had declared on 549 for 9 on the second day, built around Lahiru Udara’s superb 188. Sonal Dinusha made 92, Kamindu Mendis scored 84 and Kusal Mendis contributed 69, while Jayden Seales and Shamar Joseph claimed two wickets each for the West Indies.

An early wicket at the start of the second day’s play would have given West Indies an opportunity to break into Sri Lanka’s lower order. However, Dinusha made his intentions clear by dispatching the third ball of the day to the boundary. Kusal also got going at the other end, driving Alzarri Joseph to the fence before taking two more boundaries off the same bowler.

Dinusha welcomed Shamar Joseph into the attack with another boundary, but Kusal caused the greater damage, smashing the paceman for a six and a four to keep Sri Lanka firmly in control. West Indies were also let down in the field when John Campbell dropped a straightforward chance that would have dismissed Kusal on 23.

The pair then negotiated a testing period cautiously before accelerating in the second session. A flurry of boundaries brought up their respective half-centuries, with Kusal reaching the milestone with a six before taking another maximum off Roston Chase. Against the run of play, West Indies finally made the breakthrough after the drinks interval when Kusal chopped onto his stumps for 69 off 115 balls, including eight fours and three sixes.

Milan Rathnayake offered stubborn resistance after Kusal’s dismissal as Sri Lanka moved past the 500-run mark. Dinusha, who struck consecutive boundaries to move into the 90s, narrowly missed out on a century when he was dismissed for 92 off 166 balls, with 12 fours, after edging a leading catch. Sri Lanka added useful runs after tea before eventually declaring on 549 for 9.

Given 24 overs to bowl before stumps on the second day, Sri Lanka made an early breakthrough when Fernando had Brandon King caught at second slip. However, West Indies held firm thereafter, with Campbell remaining unbeaten on 31 from 77 balls while Hodge survived two dropped chances to finish the day unbeaten on 6 from 41 deliveries.

Seylan Bank PLC recently announced a major advancement in Sri Lanka’s digital payments landscape through the integration of all Seylan Credit and Debit Cards with Google Pay, enabling customers to make seamless, secure, and contactless transactions directly from their Android devices.

This latest development positions Seylan Bank at the forefront of Sri Lankan financial innovation, reinforcing the Bank’s commitment to enhancing customer convenience while driving the adoption of digital payment solutions across the country. The integration is supported by global payment networks Visa and Mastercard, further ensuring wider acceptance and reliability for local and international users.

The service enables faster, safer, and more convenient transactions for Seylan Cardholders, replacing the need for physical cards. The solution, in line with Seylan Bank’s promise of delivering value on ‘heartfelt essentials’, is designed to support everyday purchases, from groceries and dining to festive shopping, while also allowing customers to focus on what truly matters.

Head of Cards Ruchith Liyanage said: ‘Seylan Bank continues to prioritise innovation that enhances customer experience. With the integration of Google Pay, we are enabling our Cardholders to embrace a smarter, more secure way of transacting. This is not just about convenience; it’s a revolution initiated to bring value into the lives of our Cardholders while simultaneously allowing them to enjoy the benefits of modern financial technology.’

It is noteworthy that the solution leverages advanced tokenisation to secure every transaction. Rather than sharing actual card details, the solution replaces them with encrypted digital tokens, ensuring sensitive information is neither exposed to merchants nor stored on devices. The enrolment of each and every Card is authenticated through one-time passwords and bank verification, delivering a service that unites global security standards with everyday ease and peace of mind. It is designed to support a wide range of daily transactions, from retail and dining to commuting and online payments.

The integration underscores Seylan Bank’s broader strategy to promote cashless transactions, improve payment security, and deliver an effortless banking experience. By leveraging mobile technology, the Bank continues to support Sri Lanka’s transition towards a more digitally connected economy.

Currently, the Google Pay functionality is available for Android users, with further enhancements expected as adoption grows. Seylan Bank invites all Seylan Credit and Debit Cardholders to activate Google Pay and enjoy exclusive offers, enhanced security, and a seamless payment experience.

The Design Consortium International (DCIL), one of Sri Lanka’s leading architectural and building consultancy firms, has broken ground on another flagship residential development, the Rs. 4 billion JAT Astera Residencies project in Thalawathugoda.

Design Consortium, Managing Director Migara Alwis said piling work commenced last week by Sincon Piling, marking the start of construction on the 12 storey luxury apartment complex.

The development will comprise 104 apartments and six penthouses, offering premium resort style living in a tranquil setting overlooking uninterrupted paddy fields.

‘The design provides every bedroom with its own private balcony, allowing each residence, starting from just under 1,200 sq. ft., to open outwards and maximise both space and panoramic views while delivering state of the art living,’ Alwis said.

A key highlight of the project is its rooftop, spanning more than 14,000 sq. ft., which has been designed as a landscaped communal space rather than a conventional amenity deck. Facilities include a rooftop garden with open green spaces, a calisthenics and movement area, an amphitheatre, an entertainment zone, and dedicated spaces for residents to sit, walk, and relax.

The development will also feature a swimming pool, a fully equipped gymnasium with sauna, a children’s playground, a temperature controlled garbage disposal room with a separate garbage lift, 100% backup power through a 630 KVA generator, comprehensive CCTV coverage in all common areas, 24-hour security, smoke alarm systems, and rainwater harvesting, with rainwater collected in a basement storage tank.

Founded in 1987 by veteran architect Dr. Prof. Lakshman Alwis, Design Consortium International provides fully integrated design solutions spanning architecture, structural engineering, quantity surveying, and urban development planning. Over the past four decades, the firm has delivered numerous landmark commercial, residential, hospitality, and mixed use developments across Sri Lanka.

Developed by JAT Living, Astera Residencies will offer a mix of two bedrooms and three bedroom apartments, with penthouses and residences starting from Rs. 49 million upwards.

Emirates, the world’s largest international airline, marks 40 years of service to Colombo, Sri Lanka this year.

Since its inaugural flight in April 1986, Emirates has transported over 15 million passengers on more than 97,000 flights to and from the country. Additionally, in the last two decades alone, Emirates’ flights have uplifted more than 403,000 tons of cargo between Sri Lanka and the rest of the airline’s expansive network.

Emirates currently operates three daily flights, connecting Sri Lanka’s largest city to over 135 destinations on its vast network and supporting trade and tourism. On flights to and from Colombo, passengers enjoy the ‘Fly Better’ experience aboard the Boeing 777 as well as the latest aircraft to join the Emirates fleet, the A350. The mix of both aircraft types offer seats in four cabin classes including Premium Economy.

In the past year, most passengers arriving into Sri Lanka embarked on their journeys from Europe, most notable of which included the UK, Germany, France, Italy, the Netherlands, and Switzerland. Outbound travel from Colombo has primarily been to destinations including Dubai, and points in Saudi Arabia, the UK, Italy, France, and Madagascar.

To boost connectivity for its customers, Emirates expanded its partnership with SriLankan Airlines in 2023 to encompass 30 routes on an interline basis. The collaboration provides valuable benefits for customers travelling to popular destinations in the Far East, Africa, the Middle East, and South Asia, including seamless travel on one-ticket itineraries and greater connectivity to points on the network of both airlines.

Last year, Emirates reinforced its commitment to delivering premium travel experiences for travellers to and from Colombo by introducing its Premium Economy cabin on the airline’s latest A350 aircraft, featuring industry-first technologies, and also on the retrofitted B777 operated on flights EK650/651 with four refurbished cabin classes to provide its latest signature experience with its ultra-modern and premium aesthetic.

The Central Bank of Sri Lanka (CBSL) returned to net purchases of foreign exchange in June, buying a net $ 70.5 million as pressure on the rupee eased after the local currency came under strain in May.

Official data showed the CBSL purchased $ 96.3 million and sold $ 25.8 million during the month, reversing May’s net sale of more than $ 211 million, when it became a net seller of foreign exchange for the first time in 22 months.

The June purchases lifted the CBSL’s cumulative net foreign exchange purchases to $ 556.4 million in the first six months of 2026, following record net purchases of $ 2 billion in 2025.

The CBSL on Friday said gross official reserves were provisionally estimated at $ 6,881 million as at end-May 2026 and includes proceeds from the People’s Bank of China (PBOC) swap arrangement.