Category: Daily Financial Times

The Asian Development Bank (ADB) has approved a $ 57.4 million financing package to help Sri Lanka expand access to affordable clean energy and reduce greenhouse gas emissions through rooftop solar aggregation and virtual net metering.

The financing consists of a $35 million concessional loan, grants of $ 16.9 million from the European Union and $ 5.5 million from the Japan Fund for the Joint Crediting Mechanism, and counterpart funding from implementing agencies, bringing total estimated project cost to $80.5 million.

The Rooftop Solar Aggregation and Virtual Net Metering Project will help two State-owned power utilities, Electricity Distribution Lanka Ltd., and Lanka Electricity Company Ltd., to establish a scalable, utility-led model that pools electricity from large rooftop solar systems and virtually distributes credits to eligible consumers. This allows multiple users to share the benefits of solar energy without installing panels on their homes.

ADB Country Director for Sri Lanka Shannon Cowlin said: ‘This project will help Sri Lanka widen access to affordable renewable energy while strengthening grid readiness for a more resilient and inclusive power sector. It will support small businesses, advance grid modernisation and digitalisation, and create new opportunities for women and young people in the clean energy industry.’

The project is designed to help eligible micro, small, and medium enterprises, as well as community organisations-including those unable to install rooftop solar because of financial or space constraints-to reduce electricity costs through allocations under a social compensation mechanism.

Approximately 25 megawatt-peak of rooftop solar installations will be supported by the financing. It will also support a new aggregation and virtual net metering model, modernise and digitalise the distribution networks of the two utilities, and help build a grid ready for more distributed renewable energy. A training facility to support green skills development will be set up, women’s participation in the sector strengthened, and more capacity built on advanced low-carbon technologies.

ADB is a leading multilateral development bank supporting sustainable, inclusive, and resilient growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members-50 from the region.

A new art exhibition titled Spectrum was held at the Lionel Wendt Art Centre on 20 and 21 June 2026, bringing together a collection of works by 10 emerging artists. The artists were Athsara Wijegunawardena, Neha Thirumavalavan, Dillai Joseph, Wasantha Siriwardena, Champika Dias, Nipun Dias, Dr. Prasanna Siriwardena, Kalhari Perera, Siromi Samarasinghe, and Chandana Illankone.

All 10 artists have trained under the guidance of renowned Sri Lankan artist Royden Gibbs, and this exhibition marks an important milestone in their individual journeys. From left From left: Nipun Dias, Siromi Samarasinghe, Neha Thirumavalavan, Kalhari Perera, Dilai Joseph, Chief Guest Rev David Beiling, Prasanna Siriwardena, Champika Dias, Wasantha Siriwardena, Athsara Wijegunawardena, Chandana Illankone at the opening day of the exhibition.

Seylan Bank PLC has partnered with the Colombo EV Motor Show 2026 as the event’s Official Banking and Leasing Partner, marking the Bank’s firstsr-ever collaboration with Sri Lanka’s largest international electric vehicle and motor accessories exhibition.

The Colombo EV Motor Show 2026 will take place on 26, 27 and 28 June 2026 at the Sirimavo Bandaranaike Memorial Exhibition Centre (BMICH), from 10.00 a.m. to 9.00 p.m. daily. The three-day exhibition is expected to attract thousands of visitors and industry stakeholders, showcasing the latest developments in electric mobility, automotive technology, and related services.

As the Official Banking and Leasing Partner, Seylan Bank will showcase a comprehensive range of banking products and services, with a special focus on Seylan Leasing’s tailored financing solutions for electric vehicles. Visitors to the exhibition will have access to exclusive leasing packages featuring special interest rates, attractive discounts on processing fees, fast-track approvals, and on-the-spot advisory services designed to simplify vehicle ownership.

Seylan Bank Assistant General Manager – Marketing and Sales Asiri Abhayaratne said: ‘The transition towards sustainable mobility is gaining momentum both globally and locally, and Seylan Bank is proud to support this important shift through our partnership with the Colombo EV Motor Show 2026. As the Official Banking and Leasing Partner, we aim to make electric vehicle ownership more accessible by offering innovative financing solutions, attractive leasing packages, and expert guidance that empower customers to embrace greener transportation options with confidence.’

The exhibition features over 200 trade stalls representing electric vehicles, motor accessories and spare parts, lubricants, tyres, batteries, charging solutions, and a range of other automotive products and services. It provides an ideal platform for Seylan Bank to strengthen awareness of its banking and leasing offerings while engaging directly with prospective vehicle buyers and automotive enthusiasts.

Through Seylan Leasing, customers will be able to explore financing solutions for both brand-new and reconditioned electric vehicles, supported by competitive interest rates and flexible repayment plans extending up to seven years. The Bank will also highlight its ‘Speed Drive’ facility, which allows customers to initially pay only the interest component of the lease, with capital repayments commencing at a later stage, providing greater financial flexibility.

In addition to vehicle financing solutions, Seylan Bank will promote its credit card portfolio, digital banking services, and a range of other financial products designed to support customers’ evolving lifestyles and mobility needs.

The Cultural Section of the Russian Embassy in Sri Lanka and the Maldives will hold a spectacular Russian Classical Ballet Concert featuring students of the Russian School of Ballet and Dancing today (27 June) at the Nelum Pokuna Theatre in Colombo.

This special concert holds dual significance, celebrating two major milestones: the 25th anniversary (Silver Jubilee) of the Russian School of Ballet and Dancing and the 70th anniversary of diplomatic relations between the Russian Federation and Sri Lanka. Russian classical ballet has long served as a cultural bridge between the two nations, and this event reflects the enduring strength of that bilateral connection. Approximately 690 students are set to participate in this historic performance, making it a landmark occasion for cultural exchange and artistic collaboration.

The event, titled ‘Once Upon a Silver Stage,’ will feature two sessions (10:00 a.m. and 2:00 p.m.) to accommodate high public demand. The concert will showcase the talent and dedication of the school’s young ballerinas through classical ballet performances inspired by the rich traditions of Russian dance, with breathtaking performances and special surprises promised for audiences.

The school has since grown from humble beginnings to now nurturing a few 100 students across Sri Lanka, with students recently took part in the 2025 Examinations overseen by the Moscow State Academy of Choreography . The school has been instrumental in preserving and passing on the traditions of Russian ballet and folk dance in Sri Lanka .

The concert is organised under the patronage of Counsellor of the Embassy of the Russian Federation and Director of the Russian House in Colombo Maria Popova; Russian Centre in Colombo CEO Buddhapriya Ramanayake, Cultural Officer Chandi Aluvihare and Founding Instructor Galina Pleshakova. Other experiences senior instructors include Samantha Samararatne, Niluka Madurawela, Radeesha Bodiyabadu, Shenaalie Dias and Inolka Perera, along with the junior instructors, Kavishka Premathilake, Nikini Fonseka, Vihini Samarasekara, Indeevara Miltaso and assistant teachers Ashani Perera and Oshinika Nethmini.

The Russian Ambassador to Sri Lanka and Maldives Levan S. Dzhagaryan, Cultural Affairs Minister Dr. Hiniduma

Sunil Senevi, are expected to participate as Chief Guests for the two shows along with other Ambassadors’ and Diplomatic mission around Colombo, high profile individuals from state and non-state institutions.

History was made by Côte d’Ivoire as they saw off Curaçao to advance from the group stage for the first time, while goals in either half saw Ecuador stun Germany to also advance.

Netherlands finished top of Group F as they eased past Tunisia in Kansas City, while Japan’s 1-1 draw with Sweden means that the Asian heavyweights advance from the group stage for the third consecutive edition. The Swedes also punched a Round of 32 ticket as one of the best third-place finishers.

In the day’s final fixtures, co-hosts USA fell to a late Trkiye goal in a 3-2 thriller while a scoreless draw with Paraguay ensured that Australia finished as Group D runners-up.

Curaçao 0-2 Côte d’Ivoire

Côte d’Ivoire knew that a win over debutants Curaçao would send them into the knockout stage for the first time and it took them just seven minutes to strike in Philadelphia. It was a goal crafted through the persistence of starlet Yan Diomande and swept home by Nicolas Pepe.

The Blue Wave weren’t without chances of their own but a second from Pepe shortly after the hour saw them exit the tournament, leaving the Elephants to celebrate their history-making progression.

Ecuador 2-1 Germany

Even with Germany already safely through to the knockouts, Julian Nagelsmann resisted the temptation to make wholesale changes and they went ahead after just two minutes as Leroy Sane rolled the ball low past the right hand of the diving Hernan Galindez.

That left Ecuador, yet to score at the tournament, with an almighty task. But it was a challenge they rose to. Nilson Angulo got his nation off the mark and restored parity just seven minutes later as he lashed home from the top of the D. Gonzalo Plata’s late, close-range, volley then won it for the South Americans, who advance to the knockouts for just the second time.

Tunisia 1-3 Netherlands

Needing to match Japan’s result in their clash with Sweden in the simultaneous section-closers, the Netherlands raced into a two-goal lead inside the first seven minutes in Kansas City to take control of the group.

An Ellyes Skhiri own goal and a third in two matches from Brian Brobbey had the Dutch in a commanding position, only for Hazem Mastouri to hand Tunisia a lifeline shortly after the restart. Defender Jan Paul van Hecke, though, struck just after the hour to restore the two-goal buffer and ultimately see the Dutch finish top and set up a Round of 32 clash with Morocco.

Japan 1-1 Sweden

Japan were chasing a win and goals to try and overhaul the Netherlands at the section summit when they met a Sweden side also desperate for a positive result in Dallas.

After a tight opening period ended scoreless, Ritsu Doan’s defence-splitter saw Daizen Maeda sweep home nine minutes into the second half, only for Anthony Elanga to strike back for the Swedes six minutes later. The 1-1 draw means that Japan finish second to set up a clash with Brazil in the Round of 32, while Sweden also advance as one of the best third-place teams.

Paraguay 0-0 Australia

Australia knew that a point would ensure they qualified for the knockouts for a second straight World Cup, while a draw would also likely be enough for Paraguay to join them. With neither side taking many first-half risks there was a combined total of two shots – both coming from Australia – at the break.

The second half was a touch more lively, with Nestory Irankunda and Jordan Bos both sending efforts wide for the Socceroos, who end as group runners-up. They’ll now face the Group G runners-up in Dallas on 3 July.

Trkiye 3-2 USA

With the co-hosts safely through to the Round of 32, coach Mauricio Pochettino rotated his starting XI, with two of those changes combining to open the scoring early on, as Auston Trusty swept home a Sebastian Berhalter corner at the back post.

Coming after just two minutes and 13 seconds, that was the USA’s second fastest World Cup goal. Within half an hour the lead would evaporate though, as firstly a move started and finished by Arda Guler drew Trkiye level and then a Baris Alper Yilmaz strike put them ahead just after the half hour.

The man who created America’s first, Berhalter, then lashed home a leveller from the top of the box to restore parity in the second half, but Kaan Ayhan spoiled the co-hosts’ party as he popped up with a 98th-minute winner for Trkiye.

Despite the loss, USA finished as group winners and are now set for a Round of 32 show-down with Bosnia and Herzegovina in San Francisco Bay Area Stadium on 1 July.

Ireland caused a massive shock as they claimed a first senior international win over world champions India in Friday’s opening T20 international in Belfast.

With key bowlers missing through injury, debutants Jai Moondra and Matthew Hollard starred as the hosts claimed a 34-run victory to snap their winless streak against India in the shorter format at the ninth time of asking and 12 in all formats.

More than 4,000 spectators flocked to Stormont hoping to see India hand a record-breaking debut to batting sensation Vaibhav Sooryavanshi.

However, after India decided to hold the 15-year-old in reserve and opted to bowl first, new Ireland captain Lorcan Tucker led Ireland’s batting charge, with his half-century helping the hosts post 182-9.

The tourists made a quick start in response as Abhishek Sharma hit 50 off 20 balls, but Ireland refused to panic with Hollard (3-28) and India-born Moondra (2-26) playing a key role in a historic win at sun-splashed Stormont as India were dismissed for 148 with seven balls left.

‘I never expected this, to have a debut against India it’s a dream come true and I couldn’t ask for anything better,’ Hollard told TNT Sports.

‘My family have come out from Johannesburg to support me.

‘I’ve been wanting to come over to Ireland since 2019 but then Covid happened and there were a lot of setbacks. My brother came first and said I had to come so I did and Cricket Ireland have been unbelievable with me.’

The sides face each other again at Stormont on Sunday (13:30 BST).

Chief scores:

Ireland 182-9 (20 overs): Tucker 50 (36), Delany 49 (32); Rana 3-24

India 148 all out (18.5 overs): Sharma 50 (20); Hollard 3-28, Humphreys 3-38

ANTIGUA: Sri Lanka were bowled out for 308 on the opening day of the first Test against West Indies in Antigua with the highlight being skipper Dhananjaya de Silva’s 13th Test century. On a day where only 72.5 overs were bowled in total, West Indies’ openers saw off six deliveries without troubling the scorers.

West Indies’ decision to bowl first was vindicated very early in the Test match as Kemar Roach used extra bounce that was on offer to good effect to dismiss Pathum Nissanka in the opening over. Nishan Madushka received an early reprieve and he appeared to be taking full toll of it when he hammered a short and wide delivery from Alzarri Joseph for a six. But the bowler eventually had the last laugh as he trapped him leg before in the same over before bagging the massive wicket of Kamindu Mendis off the very next ball. While he missed his hat-trick, Alzarri had helped West Indies take early control of the Test.

Dinesh Chandimal and de Silva then joined forces to bail Sri Lanka out of trouble with a fruitful 68-run stand that also came at a good pace. While the pacers continued to pose questions often, Chandimal kept the scorecard ticking with regular boundaries. Dhananjaya also got in the groove when he hit Shamar Joseph for a couple of boundaries in the same over. The momentum had turned around completely by the lunch break following the barrage of boundaries. But post resumption, Sri Lanka suffered a big blow when Shamar bowled a top delivery to breach Chandimal’s defence for 54 scored off 67 balls (8 fours). Not only did Shamar remove the half-centurion, he also gave Sri Lanka more reasons to worry when he dismissed Kusal Mendis for a four-ball duck in the same over with the batter edging one to slip.

At 110-5, Sri Lanka were in deep trouble with the home side on the brink of having a go at the lower order. But Dhananjaya found an able partner in Sonal Dinusha. Playing in just his second Test, Dinusha stood tall alongside his skipper to rebuild the innings. Both the batters also scored boundaries at ease on a regular basis to drag the visitors past the 200-run mark as another topsy-turvy session finished on a good note for Sri Lanka.

However, the final session began with a jolt when Roach broke the threatening 99-run partnership by trapping Dinusha leg before for 43 scored off 75 balls (6 fours). West Indies’ joy was short-lived though as another vital partnership added to their frustration. This time, it was Milan Rathnayake who forged a useful stand of 64 with Dhananjaya. The skipper hit a boundary off Jayden Seales to bring up a stunning century and continued to keep the West Indies at bay. A leading edge finally gave West Indies the breakthrough they desired as Dhananjaya departed for 120 scored off 168 balls with 17 fours. A few handy boundaries from the lower order helped Sri Lanka breach the 300-run mark before getting bowled out on a day where the honours were shared.

An anti-counterfeiting operation led by the Colombo Crimes Division (CCD) has resulted in the seizure of suspected counterfeit engine oil belonging to one of the world’s leading energy companies, acting through its local legal representatives, Sudath Perera Associates.

The successful raids, conducted on 2 June 2026, targeted two retail entities, SF Marketing in Mawanella and J.W. Auto in Kegalle, suspected of dealing in counterfeit lubricant products bearing the Caltex and Delo brands.

Following the complaint, search warrants were subsequently granted by the Magistrate’s Court of Mawanella, presided over by Judge U.L.W. Ahamed, and the Magistrate’s Court of Kegalle, presided over by Judge Mohammed Faiz Zammuth Jahan.

During the raid at J.W. Auto, officers discovered four partially filled barrels, one Delo barrel and three Caltex-branded barrels, containing engine oil that was allegedly being sold at substantially reduced prices. All four barrels were seized by the CCD.

The raid at SF Marketing yielded even more significant findings. Upon questioning individuals at the premises, CCD officers were led to three additional locations believed to be connected to the operation. Subsequent searches uncovered a larger stockpile of Caltex- and Delo-branded barrels.

The matter relating to J.W. Auto is being heard before the Magistrate’s Court of Kegalle under Case No. B/58709/26, while the matter relating to SF Marketing is before the Magistrate’s Court of Mawanella under Case No. B/21492/26.

Both accused individuals have been granted surety bail in the sum of Rs. 10 million and are required to appear before the respective courts as directed.

Counterfeit lubricants pose serious risks to both consumers and the environment. Unlike genuine products, which undergo rigorous testing and quality assurance processes, counterfeit lubricants may contain substandard or contaminated substances that can lead to premature engine wear, mechanical failure, increased emissions and costly repairs. In severe cases, the use of such products may compromise vehicle safety and operational reliability.

The sale, possession, manufacture and distribution of counterfeit goods constitute criminal offences under the Intellectual Property Act No. 36 of 2006. Such activities cause significant harm not only to brand owners through financial losses and reputational damage but also to unsuspecting consumers, who may unknowingly purchase counterfeit products believing them to be genuine.

This successful enforcement action demonstrates the importance of continued collaboration between brand owners, law enforcement authorities and legal representatives in combating intellectual property crime. It further underscores the commitment of stakeholders to safeguarding consumer welfare, protecting the environment and preserving the integrity of Sri Lanka’s marketplace.

Investigations are ongoing, and the authorities are expected to report further facts before the respective courts in the coming weeks.

HNB Assurance, Hayleys Group ‘B’, Maliban Biscuits and Power Hand Plantations topped their respective groups as the league stage of the CDB sponsored MCA T10 Cricket Tournament concluded on Sunday.

On Sunday, English Tea Shop, Camera LK, Hayleys ‘B’ and Power Hand Plantations registered two wins each while HNB Assurance, Maliban Biscuits and Peoples Leasing registered a win each, The game between Stafford Motors and South Asian Technologies ended in a tie.

At the Mercantile Cricket Association ground, English Tea Shop defeated Akbar Brothers by 22 runs and Heshan Flex by 41 runs to clinch second spot in Group A of the tournament while HNB Assurance beat Heshan Flex to lead the group undefeated. Maliban Biscuits beat Seylan Bank to emerge undefeated leaders of Group ‘C’.

At the Ananda College grounds, both Hayleys ‘B’ and Camera LK registered two wins each over David Peiris ‘B’ and Siyapatha Finance to take first and second spots of Group ‘B’ respectively.

In the Group ‘ D’ games played at the Nalanda College grounds, Power Hand Plantations defeated both South Asian Technologies and Peoples Leasing to lead the group undefeated while Peoples Leasing defeated Stafford Motors to clinch second spot. The game between South Asian Technologies and Stafford Motors ended in a thrilling tie.

As Sri Lanka continues it’s transition towards a more sustainable and resilient energy landscape, Browns Power Solutions is playing an increasingly important role in delivering reliable power generation and renewable energy solutions that support the nation’s growth.

Backed by Browns Group’s proud heritage of over 150 years, Browns Power Solutions has established itself as a trusted provider of both conventional and renewable energy solutions, serving a diverse range of industries and businesses across the country. With a strong reputation in best-in-class diesel generator solutions and an expanding portfolio of renewable energy projects, the company remains committed to meeting the evolving energy needs of Sri Lanka.

The company offers a comprehensive range of power generation solutions through partnerships with globally recognised brands, including FG Wilson, TAFE Power, and Himoinsa. These systems, ranging from 7.5 kVA to 3,000 kVA, cater to residential, commercial, and industrial applications, ensuring uninterrupted power supply for critical operations.

In an environment where reliability and efficiency are paramount, Browns Power Solutions combines advanced technologies with extensive technical expertise to deliver dependable energy solutions. Its generator fleet is engineered for high performance, fuel efficiency, and reduced emissions, enabling customers to maintain business continuity whilst minimising their environmental impact that undoubtedly align with compliance requirements. Enhanced capabilities such as remote monitoring systems and extended warranty programmes further strengthen operational reliability and customer confidence.

Beyond power generation, Browns Power Solutions has significantly expanded its focus on renewable energy. Demonstrating this commitment, the company recently implemented a 2.5 MW solar power project at a major logistics facility in Katunayaka. This milestone reflects Browns’ growing contribution to Sri Lanka’s renewable energy sector and aligns with national efforts to accelerate the adoption of clean energy solutions.

The company also continues to explore opportunities in solar, wind, and hybrid (Solar + Wind) energy storage systems, providing customers with sustainable alternatives that support long-term energy security and environmental responsibility.

A key strength of Browns Power Solutions lies in its comprehensive after-sales support network. From system design and installation through to maintenance, repairs, relocations, and the supply of genuine spare parts, the company offers end-to-end services delivered by a team of highly skilled technical professionals. This commitment to service excellence ensures optimal system performance and return on investments whilst minimising downtime for customers across the island.

As businesses increasingly seek resilient and sustainable energy solutions, Browns Power Solutions remains focused on delivering innovative technologies, reliable service, and future-ready energy infrastructure. Whether supporting critical operations with dependable backup power or enabling long-term sustainability through renewable energy, the company continues to be a trusted partner in powering Sri Lanka’s progress.