Category: Daily Financial Times

As global markets place increasing emphasis on sustainable and deforestation-free supply chains, Sri Lanka’s rubber sector is taking proactive steps to strengthen its competitiveness. These efforts are being advanced through a European Union-supported capacity-building initiative to meet emerging international requirements.

Over 80 stakeholders from across Sri Lanka’s rubber value chain recently gathered in Colombo to help shape the country’s response to the European Union Deforestation Regulation (EUDR), a key sustainability measure that will influence future access to European markets.

Participants at the Stakeholder Consultation Workshop included government institutions, plantation companies, smallholder farmer organisations, processors, exporters, manufacturers, industry associations, and development partners.

Organised by the Rubber Development Department in collaboration with the European Union-funded Green Recovery Facility, implemented by Expertise France under the EU Global Gateway strategy, the workshop formed part of ongoing efforts to enhance Sri Lanka’s readiness for the EUDR and strengthen the long-term sustainability and resilience of the country’s rubber sector.

Designed to foster deforestation-free supply chains and sustainable agricultural production, the EUDR supports global commitments on climate action, biodiversity conservation and forest protection. For Sri Lanka, which has been classified as a ‘low-risk’ country under the Regulation, it presents an opportunity to advance sustainability across the rubber sector, strengthen traceability and due diligence mechanisms, and reinforce its position as a trusted supplier in global markets.

The workshop forms part of a broader initiative under the EU-funded Green Recovery Facility to support the sector’s adaptation to EUDR requirements. Combining assessments, stakeholder consultations and targeted capacity-building activities, the initiative seeks to enhance traceability and due diligence practices across the rubber value chain while helping safeguard continued access to key export destinations.

The initiative underscores the European Union’s commitment to promoting sustainable production systems, environmental stewardship and the long-term competitiveness of Sri Lanka’s export sectors.

Opening the workshop, Plantation and Community Infrastructure Ministry Secretary Gunadasa Samarasinghe emphasised the importance of ensuring that Sri Lanka’s rubber sector remains competitive and well-positioned to respond to evolving sustainability expectations and seize emerging opportunities in international markets.

Discussions explored stakeholders’ current levels of awareness and compliance with the EUDR, the role of government institutions in supporting implementation, international best practices and available traceability tools, and the priority capacity-building needs of actors across the rubber value chain.

The recommendations generated through the workshop will help shape the design of the initiative’s capacity-building program, including the development of a three-and-a-half-day Training of Trainers (ToT) program and stakeholder-specific training activities. The initiative is expected to directly train approximately 280 stakeholders across the rubber value chain, further strengthening the sector’s readiness to meet EUDR requirements. Positioning Sri Lanka’s rubber sector for a more sustainable, competitive and globally compliant future, the initiative will continue to build the capacities needed to meet evolving international market expectations.

Softlogic Life Insurance PLC convened its Investor Forum 2026 under the theme Big Moves, Big Impact, bringing together Sri Lanka’s investment community to present its performance, strategic priorities, and growth outlook. The Company highlighted the strength of its resilient business model, underpinned by disciplined execution, a diversified product portfolio, and a robust multi-channel distribution network.

A strong emphasis was placed on sustainability, with Softlogic Life outlining its commitment to responsible governance, long-term value creation, and customer-centric solutions that support financial inclusion and resilience. The Forum also showcased the Company’s continued investment in technology and digital transformation, with advancements in IT infrastructure, data analytics, and digital platforms positioned as key enablers of operational efficiency, scalability, and enhanced customer experience.

The company surpassed Rs. 40 billion in Gross Written Premiums in 2025 – the highest absolute growth in Sri Lanka’s life insurance industry and opened 2026 with Gross Written Premiums of Rs. 12.3 billion in the first quarter alone, a 37% year-on-year increase. Market share stands at 19.3%. Total assets reached Rs. 76 billion as at March 31, 2026. The theme Big Moves, Big Impact, which also anchors the company’s Annual Report, is not aspirational language. It is a description of what has already happened and a signal of what is being built next.

The forum featured a panel comprising Softlogic Life Managing Director Iftikar Ahamed, Softlogic Life Chief Financial Officer Nuwan Withanage, Advocata Institute CEO Dhananath Fernando and Dr Sithira Seneviratne, who specialises in Orthogeriatric and Peripoerative care. Together, they examined how Sri Lanka’s healthcare and insurance landscape is being reshaped by demographic change, rising medical costs, lifestyle shifts and the growing gap between the risks Sri Lankans carry and the protection they hold. Discussions ranged from global and Asian insurance trends to public policy, preventive health and the financial implications of an ageing population grounding the conversation in both international context and local urgency.

That urgency is real. Sri Lanka is ageing faster than any other nation in South Asia. One in four Sri Lankans is already over 60, and that proportion is projected to nearly double by 2050. Non-communicable diseases now account for 83% of all deaths in the country. Healthcare costs continue to rise well ahead of general inflation. Against this backdrop, insurance penetration remains among the lowest in Asia.

Softlogic Life’s growth trajectory has been further strengthened by its acquisition of Allianz Life Insurance Lanka and a $15 million long-term capital investment from development finance institutions Norfund and OP Finnfund milestones that have enhanced the company’s scale, capital base and international credibility at precisely the moment the market needs a strong, committed focus.

Softlogic Life Managing Director Iftikar Ahamed said: ‘We are heading into what some are calling a Silver Tsunami – a fundamental shift in how Sri Lanka ages, how people experience health, and what protection must look like to remain meaningful. People are living longer, and healthcare costs continue to rise. The Investor Forum gave us the opportunity to place these issues at the centre of a serious national conversation. Our commitment is to lead the evolution of healthcare protection in Sri Lanka building the solutions, partnerships and platforms that give people genuine confidence to live fully and plan ambitiously at every stage of life.’

As part of the forum, Softlogic Life launched Health for Life – a first-of-its-kind healthcare protection feature in Sri Lanka that removes one of the most fundamental limitations in the market: the expiration of health coverage. Unlike conventional health policies that lapse at a defined age, Health for Life provides continuous coverage with no endpoint, allowing customers to remain protected as they move through later stages of life precisely when that protection matters most.

Deputy CEO- Indu Attygalle said: ‘The insight behind Health for Life is straightforward: the moment people most need health coverage is often the moment traditional policies stop providing it. With one in four Sri Lankans already over 60 and that figure set to grow significantly, this is not a niche concern it is a mainstream one. Health for Life was built to change that. It gives customers the confidence to plan ahead, knowing their protection does not have an expiry date. That is what meaningful, long-term healthcare protection looks like.’

The launch was supported by an integrated brand campaign built around a powerful idea: that age is never a barrier to pursuing the passions (Honda Leda) that helps us live the best quality of life we aspire.

The campaign features global cricket legend Wasim Akram alongside Sri Lanka’s largest digital content creator Charith Silva known as Wild Cookbook two figures who, across generations and disciplines, embody the same truth. Akram, one of the greatest cricketers the world has seen, continues to inspire millions not through nostalgia but through the energy, discipline and purpose with which he lives today. Wild Cookbook represents a generation that is redefining what ambition and passion (Honda Leda) looks like at every age. Together, they give the campaign both reach and authenticity.

The new commercial featuring Wasim Akram and Wild Cookbook was officially launched at the event, reinforcing Softlogic Life’s commitment to inspiring people’s ‘good sicknesses’ without the limitation of age, with the promise that their health will be protected for life with ‘Health For Life.’

One of Sri Lanka›s oldest and most respected schools rugby rivalries will be rekindled this weekend when Trinity College, Kandy, and Zahira College, Colombo, lock horns in a fixture steeped in more than a century of tradition.

Trinity first played Royal College in rugby in 1920, while the Bradby Shield encounter was inaugurated in 1945.

A rivalry born in 1924

The rivalry between Trinity and Zahira traces its roots to 1924, another landmark year in Sri Lanka schools rugby. It was in that year that Zahira College introduced rugby and faced Trinity College in its inaugural inter-schools rugby fixture. More than a century later, the contest remains a significant chapter in the rich history of Sri Lankan schools rugby.

When Zahira entered the rugby arena in 1924, Trinity College was already established as one of the country’s premier rugby-playing schools. Their first meeting marked the beginning of a rivalry that would produce memorable contests and several historic milestones.

From 1924 to 1931, Trinity dominated the fixture.

Perhaps the most significant milestone came in 1932 for Zahira, when Zahira became the first school ever to defeat Trinity in rugby, securing a famous 6-3 victory. The triumph remains one of the most celebrated achievements in Zahira’s sporting history.

During the pre-World War II era, Zahira proved to be a formidable opponent, recording victories over Trinity in 1932, 1936, 1938 and 1940. These successes helped establish Zahira as one of the leading rugby powers of the time.

Golden years and interrupted traditions

Following the interruption caused by World War II, Zahira’s rugby fortunes fluctuated before a strong revival in the late 1950s and 1960s. The Green and Gold outfit fielded several outstanding teams and enjoyed fierce contests with Trinity, including during their successful 1962 campaign.

However, a major setback came in 1974 when Zahira suspended its rugby programme. As a result, the annual fixture between the two schools disappeared from the schools rugby calendar for many years.

Since rugby’s return to Zahira, meetings between the traditional rivals have become less frequent, often taking place in league competitions and knockout tournaments rather than as a permanent annual fixture. Nevertheless, every encounter continues to generate considerable interest among rugby enthusiasts.

Recent meetings

One of their most notable recent clashes came in the President’s Trophy Knockout Tournament, where Trinity emerged victorious 32-23 to advance to the semi-finals after a hard-fought contest.

The significance of that victory is heightened by the fact that this current Trinity outfit has so many outstanding performers out of whom three school boys could be singled out as great readers of the game in the form of Althaf, Wijekoon and Abdul Malik, whose contributions have helped shape a Trinity side that has appeared almost invincible at times. (The omission of Abdul Malik in a previous article is sincerely acknowledged and regretted.)

Despite Trinity enjoying greater success in recent decades, Zahira has consistently demonstrated its ability to challenge the country’s leading rugby-playing schools, often overcoming opponents with greater rugby credentials.

Teams arrive in fine form

This year’s clash promises to add another exciting chapter to the rivalry, with both schools entering the match in impressive form.

Zahira has been one of the surprise packages of the current schools rugby season. The Green and Gold outfit produced a stunning 38-34 victory over St. Peter’s College, ending the Peterites’ unbeaten run, before following it up with another impressive 38-24 win over Wesley College.

Meanwhile, Trinity has once again showcased the attacking rugby that has made them perennial contenders. The Lions have recorded several dominant performances this season, highlighted by a commanding 48-15 victory over Royal College. The performance of this Trinity side has been remarkable and does not need any more accolades in this article as a prelude for the Zahira game.

More than just a match

While league points and standings are important, this weekend’s contest represents far more than a regular schools rugby fixture. It is a celebration of a rivalry that began more than a century ago and has survived wars, interruptions and changing eras.

For Trinity, it is another opportunity to uphold a proud rugby tradition.

For Zahira, it is a chance to add another memorable chapter to a history that includes one of the most famous upsets in Sri Lanka schools rugby.

When the two teams take the field this weekend, they will not only be competing for victory but also honouring a rivalry that has helped shape the story of school rugby in Sri Lanka for over 100 years.

The Rescue, Rehabilitation and Insolvency (Corporate and Personal) Bill has officially become law, with Speaker of Parliament Dr. Jagath Wickramaratne this week endorsing the certificate on the legislation.

The Bill was first read in Parliament on 17 March 2026 and was subsequently passed by Parliament following a debate held on 6 May 2026.

The Act provides for the amendment of the Rescue, Rehabilitation and Insolvency (Corporate and Personal) Act, the Companies Act, No. 7 of 2007, the Inland Revenue Act, No. 24 of 2017, and the Mediation Boards Act, No. 72 of 1988, while repealing the Insolvency Ordinance (Chapter 97).

The Act introduces specific procedures relating to personal insolvency, including provisions for debt protection, moratoria, and debt restructuring, while ensuring the protection of a debtor’s reasonable income and essential assets.

In addition, the legislation addresses matters relating to corporate governance, receivership, and cross-border insolvency, with a view to enhancing predictability and confidence in the credit market.

The Act is also intended to provide a fresh start for honest individual debtors and establish a structured mechanism for the rehabilitation of distressed but fundamentally viable companies.

Accordingly, the Rescue, Rehabilitation and Insolvency (Corporate and Personal) Bill shall come into force as the Rescue, Rehabilitation and Insolvency (Corporate and Personal) Act, No. 12 of 2026.

The Sri Lanka Association of Airline Representatives (SLAAR) held its 33rd Annual General Meeting at The Kingsbury, Colombo on 17 June, bringing together members, past presidents and key industry stakeholders to review the past year’s progress and chart the path forward for the aviation sector.

The meeting was presided over by Chief Guest Civil Aviation Authority of Sri Lanka (CAASL) Director General Captain Daminda Rambukwella who stressed the importance of sustained collaboration between industry players and regulators, calling on stakeholders to accelerate efforts to establish Sri Lanka as a regionally competitive aviation hub.

Newly appointed Chairperson Sudeshinie Jayawardena, in her inaugural address to the membership, urged unity and steadfast commitment to the industry, highlighting the role of collective effort in driving the resilience and continued growth of Sri Lanka’s aviation landscape.

The AGM served as a platform to assess SLAAR’s contributions over the past year, with focus on advancing industry dialogue, strengthening operational coordination and supporting broader sectoral development.

Abans Finance PLC has reported another year of exceptional financial performance for the year ended 31 March 2026, reinforcing its position as one of Sri Lanka’s fastest-growing non-banking financial institutions. The Company delivered strong growth across all key financial indicators, driven by portfolio expansion, operational efficiency, and prudent risk management.

Total income increased to Rs. 4.67 billion, compared to Rs. 3.46 billion in the previous financial year, representing a growth of approximately 35%. Interest income rose to Rs. 4.21 billion from Rs. 3.03 billion, supported by significant growth in lending activities and expansion of the Company’s earning asset base. Net interest income grew by 47% to Rs. 3.07 billion, compared to Rs. 2.09 billion in the previous year, while total operating income increased to Rs. 3.47 billion from Rs. 2.48 billion. Net operating income reached Rs. 3.19 billion, reflecting the Company’s continued focus on maintaining portfolio quality and enhancing operational performance. Operating profit before taxes on financial services increased to Rs. 1.68 billion, a substantial 77% growth from Rs. 951 million recorded in FY2024/25. Profit before taxation from operations rose to Rs. 1.28 billion, compared to Rs. 704 million in the previous year, while profit after tax reached Rs. 857 million, recording a remarkable 101% growth over the previous year’s profit of Rs. 426 million.

The Company’s balance sheet strengthened significantly during the year. Total assets expanded to Rs. 20.81 billion, representing a growth of 54% from Rs. 13.48 billion recorded a year earlier. The lending portfolio continued its strong momentum, with loans and advances increasing to Rs. 14.65 billion. Customer deposits grew to Rs. 11.04 billion, compared to Rs. 8.45 billion in the previous year, demonstrating growing customer confidence in Abans Finance’s financial strength and service excellence. Shareholders’ funds increased to Rs. 4.16 billion from Rs. 3.50 billion, while retained earnings grew to Rs. 2.40 billion, further strengthening the Company’s capital position and supporting future growth initiatives.

Commenting on the results, Chief Executive Officer Nirosh Madawala stated: ‘The financial year 2025/26 marks a historic milestone for Abans Finance as we celebrate 20 years of growth and achievement. Delivering our strongest-ever financial performance is a testament to the confidence our customers place in us, the commitment of our employees, and the strategic direction we have pursued over the years. A key pillar of our success is the strength of the Abans Group. As part of one of Sri Lanka’s largest and most diversified business groups, we benefit from a powerful ecosystem built on decades of business leadership, financial stability, market reach, and trusted relationships. The Group’s extensive presence across multiple industries provides us with unique advantages, enabling us to scale confidently, strengthen our capabilities, and create greater value for customers and stakeholders. This strong foundation allows us to pursue growth with confidence while maintaining sound governance, prudent risk management, and a long-term vision for sustainable success.’ He further emphasised that the Company’s success has been built upon a carefully balanced strategy of sustainable growth, prudent risk management, portfolio diversification, digital transformation, and customer-centric innovation.

The Company continued to strengthen its market position during the year by expanding its lending footprint across multiple sectors and regions while maintaining healthy liquidity and strong asset quality. Strategic investments in technology, process improvements, and customer experience initiatives further enhanced operational effectiveness and service delivery. Abans Finance’s investment-grade rating of A-(lka) with a Stable Outlook from Fitch Ratings Lanka Ltd., reflects the Company’s strong financial profile, prudent governance standards, and resilient business model. Looking ahead, Abans Finance is entering a new era of growth with a clear vision of becoming one of Sri Lanka’s most admired and trusted financial institutions. The Company plans to accelerate expansion across retail and business financing, deepen digital capabilities, broaden financial inclusion, and deliver innovative financial solutions that empower individuals, entrepreneurs, and businesses to achieve their aspirations. As Abans Finance commemorates twenty years of excellence, the Company remains firmly committed to creating sustainable value for customers, employees, shareholders, and the wider community while building on a proud legacy of trust, stability, innovation, and financial leadership. With record profitability, a strengthened balance sheet, growing market presence, and the enduring support of the Abans Group, Abans Finance is exceptionally positioned to capture the opportunities of the future and continue its journey of transformative growth.

For many Sri Lankan businesses, India has long represented a market of immense potential. Yet despite its proximity and promise, entering and expanding within India has often seemed complex, with businesses facing challenges in identifying the right opportunities, navigating regulations, finding trusted partners, and understanding the nuances of different regions.

Addressing these challenges head-on, the Indo-Lanka Chamber of Commerce and Industry (ILCCI), in partnership with Global Investment and Trade Advisors (GITA), is launching the India Trade Desk – a dedicated platform designed to help Sri Lankan businesses successfully enter, expand, and establish meaningful commercial relationships in India.

More than a traditional advisory service, the India Trade Desk serves as a practical bridge between opportunity and execution. The initiative provides businesses with access to market intelligence, State-specific opportunity mapping, regulatory guidance, strategic introductions, investment facilitation, and partner identification to help transform business aspirations into tangible outcomes.

Former Invest India Chief Operating Officer and GITA Founding Partner Priya Rawat said: ‘The next chapter should not be limited to trade in goods alone. The real opportunity lies in creating partnerships-joint ventures, investments, technology collaborations, tourism initiatives, and business ecosystems that allow companies from both countries to grow together.’

The India Trade Desk has been established with a clear objective: to simplify market entry and accelerate business growth opportunities between Sri Lanka and India. Whether a company is looking to export products, establish a local presence, attract investment, identify distributors, explore manufacturing partnerships, or engage with India’s innovation ecosystem, the Desk provides a structured pathway to connect businesses with the right stakeholders and opportunities.

Recognising that India is not a single market but a collection of diverse States, industries, and consumer segments, the Desk works closely with businesses to identify the most suitable entry points based on their sector, business objectives, and growth ambitions. Opportunities in Tamil Nadu may differ significantly from those in Maharashtra, Karnataka, Telangana, or Gujarat, making localised knowledge and strategic guidance critical to success.

Former Invest India Vice President and Head of the Asia Pacific Region and GITA Adviser Sai Sudha Chandrasekaran said: ‘Companies often see India’s size as a challenge. But every successful expansion starts with one market, one customer, one partner, or one pilot project. The businesses that succeed are those that focus on the right entry point rather than trying to conquer the entire market at once.’

The India Trade Desk is particularly focused on supporting small and medium-sized enterprises (SMEs), many of which possess strong products, services, and ambitions but lack access to the networks, information, and connections required to navigate a new market. Through its extensive ecosystem of Government agencies, investors, industry bodies, and business leaders across India, the Desk helps level the playing field by providing access to relationships that would otherwise take years to establish.

For a food manufacturer, this may involve identifying distribution channels and understanding regulatory requirements. For a tourism operator, it could mean connecting with strategic partners and investors. Technology companies may gain access to innovation ecosystems, investment opportunities, and potential clients, while manufacturers can explore supply chain partnerships, industrial clusters, and market expansion opportunities.

The timing of this initiative is significant. As businesses globally seek more resilient supply chains, diversified markets, and stronger regional partnerships, economic engagement between Sri Lanka and India continues to gather momentum. India, now home to over 1.4 billion people and one of the world’s fastest-growing major economies, offers significant opportunities across manufacturing, technology, services, tourism, logistics, healthcare, and consumer sectors. Coupled with geographical proximity, cultural familiarity, and existing trade frameworks, the market presents a compelling growth opportunity for Sri Lankan enterprises.

However, market potential alone does not guarantee success. Businesses require trusted guidance, local insights, strategic networks, and the ability to engage with the right stakeholders at the right time. The India Trade Desk has been designed to provide exactly that support, helping businesses move from initial conversations to meaningful commercial outcomes.

As Sri Lanka and India continue to strengthen economic ties, initiatives such as the India Trade Desk can play a critical role in fostering deeper business-to-business engagement, encouraging investment flows, and creating long-term partnerships that benefit both economies.

The message to Sri Lankan businesses is clear: do not let the scale of India become a barrier to opportunity. Every successful expansion begins with a first step, and for companies ready to explore one of the world’s most dynamic markets, that step has never been more accessible.

Rawat is among the founding members of Invest India, India’s national investment promotion agency, and played a pivotal role in landmark initiatives including Make in India. Over a career spanning more than 15 years, she has facilitated over $ 100 billion in foreign direct investment (FDI), working with governments and businesses across multiple markets to attract investment, create jobs, and strengthen industries.

Chandrasekaran previously served as Vice President and Head of the Asia Pacific Region at Invest India, where she worked extensively with governments, investors, and corporations to facilitate cross-border investments and strategic partnerships. Her experience spans market expansion, investment promotion, and ecosystem development across diverse sectors and geographies.

GITA will be hosting a limited number of private one-on-one consultation sessions in Colombo on 24 June. Those interested to join can contact [email protected] or +94 77 246 5980.

Global Investment and Trade Advisors (GITA) is a strategic advisory firm that helps governments, investors, and businesses unlock growth opportunities through investment facilitation, trade promotion, market-entry support, and cross-border partnerships. Leveraging extensive experience across India and international markets, GITA works with public and private sector stakeholders to accelerate investments, strengthen business ecosystems, and drive sustainable economic growth.

Colombia, England and Ghana bagged wins on Day 7 of the FIFA World Cup, the same day Congo stunned Portugal to 1-1 draw.

Portugal predictably monopolised possession. They had over 75%. They also led early courtesy of a header by the seldom-anything-but-superb Joao Neves. Congo, however, refused to adhere to the remainder of the script. While the Seleção had lots of time on the adidas TRIONDA, Les Léopards threatened to ripple the net with it more. Ultimately, Yoane Wissa’s header earned them a deserved draw.

England 4-2 Croatia

England’s previous 4-2 victory on the football’s biggest stage seized them a first title in 1966. Will the Three Lions’ latest set them en route to a second crown? The performance, against the 2018 finalists and 2022 bronze medallists, suggests it could.

It was, despite Harry Kane’s double, all square at the break. In the dressing room Thomas Tuchel fearlessly urged his men to dare at the risk of defeat. ‘Credit to the manager,’ said Kane. ‘We went full gas and they couldn’t deal with it.’ Jude Bellingham and Marcus Rashford got the goals that bolted England out of the blocks.

Ghana 1-0 Panama

The Canal Men had the better of the first 45. The Black Stars, with Antoine Semenyo starring, were on top after the restart. As the clock ticked past 90, however, neither had turned their periodical dominance into a goal. Then, on the stroke of shared spoils, Caleb Yirenkyi, an unlikely source, summoned a winner. Ghana had taken a sizeable stride towards the knockout phase.

Uzbekistan 1-3 Colombia

The South Americans drew first blood, threatened the Central Asians incessantly thereafter, but were forced to dig deep to get the W. Abbosbek Fayzullaev’s equaliser, indeed, had Uzbekistan on for a famous World Cup debut draw – temporarily. With the pressure on, up stepped Bayern Munich superstar Luis Diaz to thrill the masses of Colombians in the crowd, before Jaminton Campaz struck the final blow.

Stats

Cristiano Ronaldo became, at 41 years and 132 days, the oldest outfield player to ever start a World Cup game. The record had belonged to Atiba Hutchinson, who was 39 years and 292 days when he represented Canada against Croatia at Qatar 2022.

Ivan Perisic became the second player in history to register an assist in four World Cups. Pele, Grzegorz Lato, Diego Maradona and David Beckham set up goals in three, while Lionel Messi did so in five.

Harry Kane equalled Gary’s Lineker’s record of 10 World Cup goals for England. James Rodriguez, Kane and Kylian Mbappe are vying to become the first player to claim the competition’s adidas Golden Boot twice.

Carlos Queiroz guided Ghana to become the third man to coach in five World Cups. He tied the total of Bora Milutinovic, with Carlos Alberto Parreira having led nations in six editions. (FIFA)

The 2nd Data Privacy and Protection Summit 2026, organised by the Daily FT and CICRA scheduled for 23 July 2026 at the Oak Room, Cinnamon Grand, is set to be the foremost gathering for data protection professionals, legal experts, and technology leaders in the country.

As data breaches grow more sophisticated, AI enablement takes center stage, and the enforcement of Sri Lanka’s Personal Data Protection Act (PDPA) draws nearer, this summit provides a vital platform to understand the evolving landscape of privacy, security, and compliance.

In a major development, Concentric AI, in partnership with local technology leader Orin Corporation, has come on board as the Strategic Partner for this year’s summit. Concentric AI is an advanced, AI-driven data security platform that autonomously discovers, classifies, and protects sensitive business data across cloud and on-premises environments, fast growing to be one of the leaders in AI Data Security and Governance. Orin Corporation, a trusted name in the local tech landscape, was a Strategic Partner during the inaugural Data Privacy and Protection Summit in 2025. Their continued collaboration with CICRA and DFT underscores a long-term commitment to elevating data protection standards in the region.

CICRA Group Director/CEO Boshan Dayaratne said: ‘We thank Orin Corporation for their unwavering trust in CICRA and DFT for the second successful year of partnership,’ said Dayaratne. ‘Today, AI-driven solutions are key factors in defending against cyber attacks. Humans cannot defend against AI-driven attacks without the support of AI. While attackers use AI, defenders must also evolve their AI to fight back. We invite everyone to attend the Summit on 23rd July to understand how organizations and Data Controllers can achieve PDPA compliance, especially as enforcement is soon approaching.’

Orin Corporation Chief Operating Officer Rehan Ariyaratne said: ‘Our contribution to this year’s summit goes beyond technology, it’s about empowering local businesses to stay ahead of the threat curve. By bringing Concentric AI to the forefront, we aim to demonstrate how we will protect our organisations key asset, data, in a world that is enabling and using AI at an ever growing pace. Participants at the summit will gain hands-on insights into deploying AI to defend against AI-powered threats, reduce data security threat surfaces, understand real world use cases of data risk management in an AI driven world, and walk away with actionable strategies to build a resilient, PDPA-ready compliance framework.’

Both Government institutions and private sector organisations have a shared responsibility in protecting citizen and customer data. With PDPA enforcement imminent, public sector data controllers and private enterprises alike must act now to avoid penalties, reputational damage, and security breaches. This summit offers a unique opportunity to learn from global AI-driven solutions like Concentric AI, understand regulatory obligations, and build a proactive defense strategy.

Zahira College Principal Trizviiy Marikkar this week set the record straight on integrity and recruitment policy of rugby players by the school.

Marikkar’s move follows what he described as ‘unfounded misinformation’ circulating on various social media platforms concerning the college. Misinformation also comes after stellar performance by Zahira todate in the on-going Schools Rugby League and ahead of a crucial match against Trinity on Saturday.

Clarifying the Rugby Player Recruitment Policy, the Zahira Principal said as an institution with a storied history in Sri Lanka sports, ‘we believe it is our duty to set the record straight and uphold the transparency that defines our sporting culture. Zahira College maintains a strict policy – We do not recruit or «import» players from other ‘A’ Division rugby-playing schools.’

‘Our philosophy is built on mutual respect for our fellow competitors. We believe that every ‘A’ Division school works hard to develop its talent, and we have no intention of disturbing or hindering the growth of these institutions by poaching their players. We stand by the principle that the health of Sri Lankan rugby depends on the stability of all its top-tier programs. Thus, we believe that winning a match with imported players is a sad state of affairs in sports,’ Marikkar said, adding Zahira ‘takes immense pride in its current First XV squad.’

To clarify the scale of Zahira’s internal development, the Principal said 99% of Zahira’s current team consists of home-grown talent. ‘These are students who have risen through our own junior ranks, embodying the Zahira spirit from a young age. Our success on the field is a result of years of internal coaching, dedication, and the loyalty of our own students,’ he said.

When Zahira College does engage in external recruitment, it is done with a clear philanthropic and developmental purpose. We offer scholarships to talented athletes from remote areas or ‘C’ Division schools. These recruitments are conducted with full transparency and the explicit consent of all parties involved. For these players, a Zahira scholarship is more than just a spot on a team; it is a life-changing opportunity to access high-quality education and professional sports training that might otherwise be out of reach.

‘We refuse to win matches at the expense of a student’s future. To us, a trophy is temporary, but an education and a disciplined character last a lifetime,’ Zaid Principal Marikkar.

He urged the general public, Zahira alumni, and the rugby community to disregard the misinformation currently being circulated.

‘Zahira rugby remains committed to the highest standards of sportsmanship, ethical recruitment, and holistic development of the youth of Sri Lanka. We continue to groom sportsmen who will graduate as responsible educated citizens of our nation,’ Marikkar emphasised.