Category: Daily Financial Times

BYD and its authorised Sri Lankan distributor, John Keells CG Auto, marked the BYD Galle Showroom’s achievement of 1,000 services and 1,000 deliveries, a milestone made possible by the trust and confidence customers have placed in the brand.

This achievement highlights the strong relationships built with customers and reinforces BYD’s commitment to delivering an exceptional ownership experience.

John Keells CG Auto said as the BYD brand continues to grow, it remains focused on enhancing its aftersales services, strengthening its support network, and providing customers with reliable care and support throughout every stage of their vehicle ownership journey.

Bank of Ceylon (BOC) has launched C Flex Corporate, a digital cash management solution designed to help corporate and small and medium-sized enterprise (SME) customers manage payments, collections, liquidity, and other banking activities through a single secure system.

The new service was developed under the bank’s digital transformation program in response to changing customer expectations and the increasing complexity of business banking requirements. It replaces the limited functions of BOC’s existing corporate online banking service with a wider range of transaction, administration, reporting, and cash management capabilities.

Chairman Kavinda de Zoysa said: ‘Digital transformation is no longer an option but a business imperative. With the introduction of C Flex Corporate, BOC is reinforcing its commitment to empowering Sri Lankan enterprises with world-class digital banking capabilities that enhance competitiveness, strengthen financial resilience, and support the nation’s long-term economic progress. This long-awaited initiative reflects our vision of creating sustainable value for businesses through innovation.’

Centralised account monitoring

C Flex Corporate gives authorised users access to balances and transaction details across their accounts through a centralised dashboard.

Customers can view summaries covering current and savings accounts, loans, and fixed deposits. This allows finance teams to monitor available funds, examine account activity, and assess the company’s banking position without moving between separate systems.

Real-time visibility can help businesses make faster decisions on outgoing payments, expected receipts, and working capital requirements. Companies can review cash movements as they occur and respond to funding needs with access to updated account information.

The service also supports companies operating through several subsidiaries. Different entities can be managed under one corporate profile, giving finance teams centralised oversight while allowing each company to maintain its own users and approval procedures.

This arrangement is suited to conglomerates and corporate groups where banking duties may be handled by several teams, branches, or business units. Central administration can provide clearer supervision of company accounts and transaction activity across the group.

General Manager/CEO Y.A. Jayathilaka said: ‘Today’s businesses require banking solutions that are not only secure and reliable, but also intelligent, seamless, and efficient. C Flex Corporate has been designed to meet these evolving needs by providing a comprehensive cash management platform that streamlines day-to-day financial operations, enhances visibility, strengthens control, and improves operational efficiency. This launch marks another significant milestone in our digital transformation journey, reinforcing our commitment to delivering world-class banking solutions that empower our corporate and SME customers to manage their finances with greater convenience, confidence, and agility.’

Bulk payments and transaction processing

The platform supports both single transactions and bulk payments, allowing businesses to process salaries, supplier payments, standing instructions, and high volumes of fund transfers.

Customers can conduct transactions through intrabank fund transfers, the Common Electronic Fund Transfer Switch, Real Time Gross Settlement, and USD Online. Bill payments can also be completed through the same interface.

Bulk processing can reduce the manual effort required for recurring payments and large transaction batches. It can also limit data-entry errors and shorten the time needed to prepare and process salary or supplier payment files.

Companies can establish approval procedures according to transaction value, user responsibility, or internal financial policies. Payments can be routed through several authorisation levels before completion, depending on the controls selected by the organisation.

Dual authorisation is available for transactions requiring an additional level of review. The platform also stores transaction histories, allowing finance teams and administrators to examine previous payments within selected periods.

Customers can open fixed deposits digitally, check cheque status, and submit requests for cheque books online. Combining these banking services within one interface is intended to simplify routine financial administration.

Senior Deputy General Manager/Head of Corporate and Offshore Banking Rohana Kumara said: ‘C Flex Corporate has been designed with a strong focus on functionality, security, and flexibility. By integrating real-time account monitoring, advanced payment capabilities, customisable authorisation workflows, and seamless system integration, we have created a platform that enables businesses to automate financial processes, strengthen governance, and manage their operations with greater confidence in an increasingly digital environment.’

Collections and receivables management

C Flex Corporate includes tools to help companies monitor incoming funds and manage receivables. Businesses can track payments in real time and use reconciliation tools to identify receipts linked to customers, invoices, branches, or business units. Improved reconciliation can help finance teams maintain accurate records and determine which amounts remain outstanding.

Virtual Account Management allows companies to assign virtual accounts for different collection purposes. Incoming payments can then be identified without requiring staff to manually examine and match each transaction.

The service supports Payments on Behalf Of and Collections on Behalf Of arrangements, known as POBO and COBO. Under these models, a central company can make payments or collect funds for subsidiaries or related entities.

These capabilities can assist corporate groups that manage treasury operations centrally. Payments and collections can be coordinated across several companies while account information remains available through one corporate profile.

Post-Dated Cheque Management allows businesses to record and monitor cheques issued for future realisation. Escrow Management is also included for transactions where funds must be retained and released according to agreed conditions.

The combination of real-time tracking, reconciliation, and virtual accounts is intended to help companies improve collection processes and maintain closer control over receivables.

User controls and security

The service uses encryption, two-factor authentication, role-based access controls, and dual authorisation to protect customer information and transactions. Organisations can manage their own banking users through an administration portal. Corporate administrators can create, modify, activate, or deactivate user profiles and determine the services available to each employee.

Access can be assigned according to job duties, company, business unit, or level of authority. A user preparing transactions can be given different permissions from a manager or executive responsible for approval.

Businesses can also create transaction approval hierarchies based on their internal governance policies. This allows companies to separate transaction preparation, review, and authorisation duties. Administrators can monitor user activity and examine transaction histories within selected periods. These controls are intended to improve accountability and help organisations maintain their internal compliance and financial control requirements.

Flexible user administration is especially relevant to companies with several finance teams or employees working across branches and subsidiaries. Access can be updated as responsibilities change, reducing the risk of outdated user permissions remaining active.

Reporting and system integration

C Flex Corporate provides customisable reports covering transactions, account activity, and other financial information. Finance managers and corporate executives can generate reports according to their operational requirements. The information can be used to review payments, collections, account movements, and transaction histories.

The platform also supports integration with enterprise resource planning systems. This allows banking activity to connect with company systems used for accounting, payroll, procurement, and treasury management.

ERP integration can reduce the manual transfer of transaction data between company records and banking systems. It can also assist with reconciliation and improve consistency across financial records. For organisations processing large transaction volumes, automation can reduce administrative work and allow finance teams to concentrate on monitoring, analysis and financial planning.

Mobile access for corporate users

C Flex Corporate includes mobile banking functions that allow authorised users to monitor and approve transactions away from the office.

Executives and finance managers can review pending transactions and access account information through secure mobile channels. This can reduce delays when approval is required from an official who is travelling, attending meetings, or working from another location.

Mobile access also supports business continuity by allowing selected banking activities to continue outside the company’s main workplace. Transactions remain subject to the approval procedures and security controls established by the organisation.

Corporate banking tools for SMEs

The service has been developed for large companies, conglomerates, and SMEs. Smaller businesses often manage salary payments, supplier settlements, customer receipts, and cash flow with limited administrative resources. Access to bulk processing, reconciliation, reporting, and user controls can help them reduce manual work and improve financial oversight.

C Flex Corporate gives SMEs access to advanced cash management functions commonly used by larger organisations. These tools can assist growing businesses as transaction volumes increase and internal financial responsibilities become more complex. For corporate and SME customers, the main benefits include faster payment processing, clearer cash flow visibility, improved user control, stronger transaction security, and easier access to banking services.

Supporting digital business operations

The launch comes as Sri Lankan businesses increase their use of digital systems across finance, operations, and supply chains. Corporate banking services are increasingly expected to connect with internal company systems while giving finance teams access to current account and transaction information. Secure digital approval and administration functions are also important as companies operate across several locations and business entities.

C Flex Corporate brings account monitoring, payments, collections, liquidity management, reporting, mobile access, and corporate user administration into one digital environment.

The service gives BOC a broader corporate banking offering while providing businesses with tools to automate routine processes, strengthen financial controls, and manage cash through a centralised system. Its introduction also contributes to Sri Lanka’s wider digitalisation agenda by giving corporate and SME customers access to banking infrastructure that can support efficient transactions, improved financial administration, and business growth.

Following its successful launch in Colombo earlier this year, Global Biz Connect 2026 is now taking its vision of cross-border business collaboration to Australia, with the Global Biz Connect Melbourne 2026 – Australia Edition scheduled for Thursday, 20 August 2026, at SofitelMelbourne on Collins from 6.30 p.m. onwards.

Launched in Colombo on 3 March 2026 at Cinnamon Life, Global Biz Connect was established as a platform to bring together business leaders, entrepreneurs, investors, professionals and decision-makers to create meaningful connections and explore opportunities beyond traditional markets.

The inaugural Colombo edition was held in partnership with the Old Nalandians’ Association of Australia (ONAA) and JCI Colombo Mid Town, successfully establishing the platform as a forum for international business networking, collaboration and knowledge exchange.

Building on that foundation, Global Biz Connect is now proud to take the platform to Melbourne, in partnership with the Old Nalandians’ Association of Australia and the Australia Arab Chamber of Commerce and Industry (AACCI).

The Melbourne edition represents an important next step in the Global Biz Connect journey, bringing together the Australian, Sri Lankan and UAE business communities and creating a platform for new relationships, partnerships, investment opportunities and international business connections.

The transition from Colombo to Melbourne reflects the core philosophy behind Global Biz Connect: business opportunities should not be limited by geography.

The platform was created with the objective of connecting people, ideas, businesses and markets across borders. Following its launch in Sri Lanka, the Melbourne edition will provide an opportunity to strengthen commercial and professional ties between Sri Lanka and Australia, while also opening pathways towards the wider UAE and international business community.

The event will bring together corporate decision-makers, business owners, investors and capital providers, international trade professionals, SME leaders and growth-stage entrepreneurs for an evening of high-level networking and dialogue.

A major highlight of Global Biz Connect Melbourne 2026 will be an engaging speakers panel featuring prominent figures from the worlds of business, government, academia, sport, finance and professional services.

The distinguished panel includes: Australia Arab Chamber of Commerce and Industry President and National Chairman Mohamed Hage OAM; Cricket Victoria Former CEO Ken Jacobs OAM; Dr. PRMD Holdings Chairman Prasanna Rathnayake; Dabbagh Group Vice Chairman Yaser Dabbagh; Colombo Stock Exchange CEO Rajeeva Bandaranaike; Deputy Industries and Entrepreneurship Development Minister Chathuranga Abeysinghe, Deakin University Emeritus Professor and The Main Act Co-Founder Prof. Kim Watty; Former Sri Lankan Cricketer (1985-1996) Asanka Gurusingha; OneTax Accountants Principal Partner Ranga De Silva; VETASSESS Executive Director Dr. Mamta Chauhan; and Integrated Knowledge Founder and CEO Dr. Luckmika Perera.

The panel will be moderated by Old Nalandians’ Association of Australia President, Australian Migration Consultants and Ceilao Group Chairman Dr. Manjula Kulatunga.

With representation spanning business, government, investment, professional services, academia and entrepreneurship, the panel is expected to provide diverse perspectives on international business, economic opportunities, market expansion and cross-border collaboration.

Global Biz Connect Melbourne is built around three key pillars: NETWORK -Build valuable international connections and expand professional and business networks; COLLABORATE – Explore strategic partnerships, commercial opportunities and cross-border relationships; GROW – Discover opportunities to expand businesses across Australia, Sri Lanka and the UAE.

The event is powered by Medilinked and is designed to facilitate meaningful conversations that can translate into long-term commercial relationships and opportunities.

The journey from Colombo to Melbourne marks an important milestone for Global Biz Connect.

What began in Colombo as a business networking initiative has now evolved into a platform with an increasingly international outlook. The Melbourne edition will build upon the relationships and momentum created at the inaugural event while establishing a stronger bridge between Australian and South Asian business communities.

Through its association with the Old Nalandians’ Association of Australia and the Australia Arab Chamber of Commerce and Industry, Global Biz Connect Melbourne aims to create an open platform for businesses to engage with new markets, explore partnerships and build connections that extend well beyond national borders.

The Expolanka Leisure Cluster recorded an outstanding performance at the National Business Excellence Awards (NBEA) 2026, with three of its brands being recognised across multiple categories, reaffirming the group’s commitment to excellence, innovation, and customer-centric service delivery across Sri Lanka’s travel and tourism industry.

Among the night’s top honours, Classic Travel was named Winner in the Travel, Visa and Immigration Services sector. Expo Visa Services (EVS) secured Runner-Up in the Travel, Visa and Immigration Services sector while also being recognised as First Runner-Up in the Small Category. Meanwhile, Classic Destinations received a Merit Award in the Hospitality and Tourism Services sector.

Commenting on the achievement, Expolanka Leisure Cluster Director/Chief Commercial Officer Sabry Bahaudeen said: ‘These recognitions reflect the standards we continue to uphold across every business within the Expolanka Leisure Cluster. While each of our brands serves a distinct market, they are united by a shared commitment to excellence, customer-centricity, and continuous improvement. These awards inspire us to keep raising the bar and delivering meaningful value through every experience we create.’

The National Business Excellence Awards, organised by the National Chamber of Commerce of Sri Lanka (NCCSL), is one of the country’s most prestigious business awards programs, recognising organisations that demonstrate outstanding business performance, leadership, governance, and sustainable growth. Now in its 21st year, the awards celebrate excellence across a wide range of industries through a rigorous multi-stage evaluation process led by independent technical experts and an esteemed panel of judges.

Commenting further, Classic Travel Strategic Planning and Business Development Head Shazna Hassen said: ‘To see multiple brands within our cluster recognised on one of Sri Lanka’s most respected business platforms is a proud achievement for all of us. It reflects the dedication of our teams, the trust placed in us by our customers and partners, and our collective pursuit of excellence. As we continue to grow, we remain focused on strengthening our brands, embracing innovation, and delivering exceptional experiences that create lasting value across the travel, tourism, and hospitality sectors.’

The multiple accolades further reinforce the Expolanka Leisure Cluster’s position as one of Sri Lanka’s leading travel and tourism groups, with a diversified portfolio of brands committed to setting new benchmarks in service excellence, innovation, and customer experience.

George Steuart and Co. Ltd., group companies Citrus Leisure PLC, Hikkaduwa Beach Resort PLC, Waskaduwa Beach Resort PLC have appointed Nirekshe Perera as their new Chief Executive Officer.

A multifaceted hospitality executive with over 25 years of leadership experience spanning luxury hotels, integrated leisure complexes, MICE operations and banking, Perera brings a strong track record in building and positioning premium brands, driving revenue growth, optimizing costs, and delivering operational excellence in challenging business environments.

His exposure in the leisure industry includes Group Chief Executive Officer of Monarch Imperial, senior leadership roles at Shangri-La Hotel Colombo, Waters Edge Ltd., and Hilton Colombo Residences. He holds a Bachelor of Commerce from the University of Western Sydney, Australia, and is a Member of the Chartered Institute of Marketing (CIM). Perera does not hold any other directorships and has no relationship, business or otherwise, with any Director or substantial shareholder of the companies.

Sri Lanka is better positioned than during its 2022 economic crisis to absorb a fresh energy price shock from the Middle East conflict, although high oil prices continue to pose risks to inflation, reserves, and growth, Moody’s Ratings said.

Moody’s said Sri Lanka, along with Bangladesh and Pakistan, remained among Asia’s most vulnerable economies to higher oil prices due to heavy reliance on imported energy.

However, the rating agency noted that reforms undertaken in recent years, including energy-pricing adjustments, cost-recovery tariffs under International Monetary Fund (IMF) programs, and more flexible exchange rates, had strengthened resilience compared with 2022.

The Middle East conflict is expected to keep energy markets volatile, with Moody’s central scenario projecting oil prices mostly within the $ 90-110 per barrel range during the remainder of 2026, although prices could move outside that range periodically.

High oil prices have already contributed to higher inflation pressures in Sri Lanka, but Moody’s said the impact has been significantly lower than in 2022 when oil prices surged following Russia’s invasion of Ukraine, worsening Sri Lanka’s sovereign default crisis.

‘Energy-pricing reforms, cost-recovery tariffs under IMF programs, and more flexible exchange rates have reduced vulnerability to oil shocks,’ Moody’s said.

The rating agency said exchange rates in Sri Lanka, Bangladesh, and Pakistan had remained relatively stable despite elevated energy prices, unlike in 2022 when currencies weakened sharply as authorities depleted reserves to defend exchange rates.

For Sri Lanka, the shift towards a more flexible exchange rate regime has reduced the risk of disorderly currency adjustments, although the rupee remains exposed to higher energy import costs.

However, foreign exchange buffers remain a concern. Moody’s said reserves in Bangladesh and Pakistan had remained broadly steady since the escalation of the Middle East conflict, while Sri Lanka’s reserves had declined as weaker tourism earnings combined with higher energy import costs weighed on external balances.

Despite this deterioration, the rating agency said foreign exchange buffers across the three economies were stronger than in 2022, when authorities rapidly depleted reserves to support currencies amid severe external pressures.

Remittances have also remained resilient, providing an important source of foreign currency liquidity. Moody’s noted that around half of remittance inflows to Bangladesh, Pakistan, and Sri Lanka originate from workers in the Middle East, but these flows have held up despite the conflict.

The agency said more market-based exchange rates had also encouraged workers to channel remittances through official banking systems, unlike in 2022 when currency collapses pushed inflows towards informal channels.

Moody’s has nevertheless lowered growth forecasts for Sri Lanka, Pakistan, and Bangladesh due to the impact of the Middle East conflict. For Sri Lanka (one basis point) and Pakistan, the revisions are smaller than in 2022, reflecting improved capacity to absorb external shocks.

For Bangladesh, Moody’s said the growth downgrade was larger as higher oil prices are expected to delay a post-election recovery in investment and confidence.

Sri Lanka remains exposed to external energy shocks, but Moody’s assessment indicates that reforms following the 2022 crisis have strengthened the country’s ability to withstand another period of elevated global energy prices.

For Bangladesh and Pakistan, Moody’s highlighted similar vulnerabilities, noting that all three economies remain dependent on imported energy and exposed to higher oil prices. However, unlike 2022, exchange-rate flexibility, improved policy frameworks, and stronger external buffers provide greater capacity to manage the shock.

Amid debate over whether Sri Lanka should lower its 5% inflation target, economists highlighted the competing considerations surrounding monetary policy, with Verité Research Executive Director Dr. Nishan de Mel arguing that the immediate credibility test was whether the Central Bank of Sri Lanka (CBSL) delivered whatever target it formally committed to, while Advocata Institute Chairman Murtaza Jafferjee stressed the heavy influence of food, energy, and supply-side factors on domestic inflation.

Speaking at a panel discussion on ‘Sri Lanka’s Future: Forecast, Scenarios and Challenges,’ organised by the Sri Lanka – Korea Business Council, Dr. de Mel responded to the proposition that a lower inflation target could be desirable by drawing a distinction between deciding the appropriate target and delivering the one already agreed.

‘Once you get into a gazetted agreement with the Government about inflation, you have to meet that. There is no management discretion here. These are the simple facts of accountability and competence,’ he said.

Dr. de Mel said the CBSL had missed its 5% inflation target by more than 200 basis points (bps) for eight consecutive quarters. The target was established under the post-crisis monetary framework, which granted the CBSL greater autonomy, while Sri Lanka’s debt sustainability projections were also constructed on the assumption that inflation would be managed at around 5%.

He rejected the proposition that undershooting should be regarded as acceptable simply because inflation was low, arguing that repeated misses had implications for the credibility of the target and the anchoring of expectations.

Dr. de Mel said the framework provided for explanations when inflation deviated sufficiently from target, similar to arrangements governing the Bank of England, but argued that Parliamentary scrutiny had not been strong enough.

‘We haven’t been able to get Parliament to ask good enough questions to rectify the problem. So it keeps getting missed and it’s getting a little bit complicated,’ he said.

The cost of missing the target extended beyond accountability, Dr. de Mel said, as the credibility of the CBSL’s commitment influenced how businesses and financial markets formed inflation expectations.

‘When inflation is anchored on the expectations set by society, it just becomes that without having to do very much and without having to raise interest rates too much,’ he said.

Conversely, when markets did not believe the CBSL would deliver its stated inflation objective, subsequent inflation could require a stronger interest-rate response.

‘This is a very, very high cost, the loss of trust,’ Dr. de Mel said.

He argued that market pricing provided a better indication of credibility than expressions of confidence in the CBSL by private sector participants.

‘The high real interest rates that we are asking is a sign that the markets don’t trust that inflation is anchored. That’s the problem we try to solve, but we haven’t solved it yet,’ he said.

Lower real rates were important for business investment, Dr. de Mel said, pointing to India’s combination of lower inflation and lower interest rates as a competitive advantage and arguing that Sri Lanka needed to create conditions for businesses to borrow at lower rates.

The inflation outcome also had implications for Sri Lanka’s post-default debt arithmetic.

Dr. de Mel said the actual Government securities yield curve was around 300 bps above the trajectory envisaged in the debt framework, while inflation had remained substantially below the assumed path.

Low inflation combined with high nominal interest rates had pushed real interest rates to among the highest in the region and increased the effective cost of domestic debt, he said.

‘When we get inflation wrong, when we get the yields wrong, we are in the wrong terrain for debt sustainability,’ Dr. de Mel said. ‘These have real consequences and I don’t think we should take them lightly.’

Not all deviations from the original economic trajectory had been adverse. Growth had exceeded earlier projections and current account outcomes had been substantially stronger than forecast, while exchange rate movements also affected debt dynamics. Higher yields and lower-than-assumed inflation, however, worked in the opposite direction.

Jafferjee brought a different consideration to the discussion, highlighting the composition of Sri Lanka’s inflation and the limits of conventional demand-side monetary policy in addressing some of its largest drivers.

He said inflation was heavily influenced by food prices, where exposure could not easily be reduced without structural changes, and by energy prices.

‘The thing is that our inflation is heavily influenced by food, which we really can’t protect unless we make structural differences, and energy prices. That has a huge impact,’ Jafferjee said.

He said conventional demand-side inflationary pressures also took time to work through the economy.

‘These classical demand-side inflationary pressures, it takes a bit of time to really play out,’ he said.

Jafferjee also cautioned against attributing inflation of around 2% simply to monetary policy, pointing to base effects as well as the influence of food and energy.

His comments highlighted the importance of food, energy, and supply-side factors in assessing Sri Lanka’s inflation performance, alongside conventional demand-side pressures.

For Dr. de Mel, however, the question of what level Sri Lanka ultimately chose as its inflation target remained separate from the accountability attached to delivering that target once agreed.

‘There should be absolutely no debate about whether it’s okay or not. It’s absolutely not. It’s a matter of accountability, it’s a matter of democracy, it’s a matter of responsibility,’ he said.

Dr. de Mel also called for stronger domestic economic analysis and more responsive forecasting, noting that several assumptions in Government-International Monetary Fund (IMF) projections had diverged from actual outcomes.

‘If you fail to plan, you plan to fail. But I think equally, if you’ve planned, when facts change, you must change your mind,’ he said.

He said Sri Lanka needed to build greater public sector capacity to analyse its economic trajectory independently and adjust policy as underlying conditions changed.

Softlogic Life has reported its strongest first-half performance to date for the six months ended 30 June 2026 (1HFY26).

Recording the highest increase in premiums amongst Sri Lankan life insurers, the company’s GWP grew by Rs. 7.2 billion year-on-year, lifting its market share to 20.3% as at Q2 2026, up from 18.4% for FY2025, a statement from the Company said.

Gross Written Premium (GWP) performance for the period reached Rs. 26 billion, a 39% year-on-year increase from Rs. 18.7 billion in 1H2025. Profit After Tax (PAT) stood at Rs. 1.46 billion, growing 20% over the first half of 2025, while Profit Before Tax (PBT) increased by 14% to Rs. 1.98 billion. The company maintained an impressive Return on Equity (ROE) of 39% and a Capital Adequacy Ratio (CAR) of 245% as at 31 December 2025, more than double the regulatory requirement of 120%, underscoring its financial resilience and long-term stability.

Softlogic Life’s financial position remained robust during the period, with total assets increasing to Rs. 81.6 billion as at 30 June 2026, while total equity reached Rs. 14.6 billion. Financial investments amounted to Rs. 61 billion, accounting for 75% of total assets, reflecting the company’s prudent investment strategy and investment in Government securities were 74% of the portfolio.

Reaffirming its position as Sri Lanka’s largest health and protection claims payer, Softlogic Life paid Rs. 10.4 billion in claims and benefits during the first half of the year, up from Rs. 9.1 billion in the corresponding period last year. Of this, over Rs. 7.2 billion which is more than half of all claims paid went toward health and protection claims alone, underscoring the growing role Softlogic Life plays in safeguarding the health and financial wellbeing of Sri Lankan families. This reflects the company’s core purpose: delivering greater quality of life to Sri Lankans, with meaningful financial protection and long-term peace of mind when it matters most.

Today, Softlogic Life protects more than 1.8 million Sri Lankans through over 870,000 active policies, up from 770,749 policies in 1H2025 making it the country’s largest life insurance provider by customer reach. The company’s sustained growth continues to be driven by a balanced portfolio of protection and long-term savings solutions, supported by an expanding distribution network and ongoing investment in customer experience and operational excellence.

This first-half performance builds on a period of transformative growth for Softlogic Life, including the completion of its acquisition of Allianz Life Insurance Lanka in July 2025 – the first life-insurer-to-life-insurer acquisition in the history of Sri Lanka’s insurance industry and more recently, its acquisition of a 60% controlling stake in Bangladesh’s Diamond Life Insurance in July 2026, marking the first overseas acquisition by a Sri Lankan Life Insurance Company, whilst being the first acquisition by a foreign insurer in Bangladesh. The Bangladesh acquisition marks the next phase of Softlogic Life’s growth strategy, as the company looks to replicate its proven Sri Lankan success, disciplined execution, product innovation, and sustained customer trust in a new regional market.

‘Delivering the industry’s largest absolute GWP growth, while remaining the country’s largest payer of health and protection claims, reflects the strength of our strategy and consistency of execution. We remain focused on sustainable growth, strong financial fundamentals and creating lasting value for our policyholders, shareholders and stakeholders. As the industry evolves, we will continue to strengthen our leadership through innovation, discipline and, above all, customer trust,’ said Softlogic Life Chairman Ashok Pathirage.

The first-half performance comes at a time when Sri Lanka’s insurance landscape is undergoing structural change. An ageing population, rising healthcare costs, and increasing awareness of long-term financial security are driving greater demand for comprehensive protection solutions. Against this backdrop, Softlogic Life continues to invest in strengthening its capabilities, recognising that the future of insurance extends beyond financial protection to supporting healthier, more financially resilient communities. Among these investments is the company’s recent product innovation, Health for Life, a health insurance solution without an expiration date or age.

‘Our first-half results reflect a business built on trust, disciplined execution and innovation. Health for Life is the present that is redefining protection for Sri Lankans, while our expansion into Bangladesh marks an exciting new future. We remain focused on deepening customer trust, expanding access to quality protection in Sri Lanka and taking our innovations and best practices to the region,’ said Softlogic Life Managing Director Iftikar Ahamed.

This strategic direction was reinforced at the company’s recent Investor Forum 2026, further strengthening Softlogic Life’s ability to respond to evolving customer needs while supporting sustainable, long-term growth. The company’s performance and brand strength continue to receive industry-wide recognition, reflected in a series of prestigious accolades, including Overall Silver Excellence in Corporate Reporting, Gold Awards for Insurance Sector Reporting and Digitally Transformative Reporting, and Silver Awards for Integrated Reporting and Sustainability Reporting at the CA Sri Lanka Annual Report Awards. The company also secured a Gold Award for Insurance Overall Excellence in Integrated Reporting, alongside four other main category awards, at the CMA Excellence in Integrated Reporting Awards. Further recognition includes Gold for Service Brand of the Year at the SLIM Brand Excellence Awards 2025 and the distinction of being the only Sri Lankan company to win AI Initiative of the Year at the 29th Insurance Industry Awards 2025.

Sounding the alarm against the recent severe threats on enterprises and Government organisations, Kaspersky recently tackled the visibility gap plaguing the Asia Pacific (APAC) region, and how Security Operations Centre (SOC) in the age of AI can help. It stressed one cannot defend what cannot be seen.

This was the main takeaway of Kaspersky’s annual media conference, APAC Cyber Security Weekend, with the theme ‘When Speed Outpaces Visibility’ held at Guangzhou, China

Headlined by the global cybersecurity company’s Asia Pacific Managing Director Adrian Hia, the event tackled one of today’s biggest cybersecurity challenges: attackers, backed by Artificial Intelligence (AI), are moving faster than organisations can see, understand, and respond.

‘As speed and connectivity reshape modern enterprises and organisations in the region, driven mainly by AI and its applications, security teams face growing blindspots across IT and OT environments. As a result, cybersecurity today is no longer just a race against time. It’s a race against invisibility,’ said Hia.

New era of cybersecurity

Hia tackled key cybersecurity trends Kaspersky is observing: AI-assisted attacks, cyber sabotage targeting infrastructure across IT and OT systems, and more sophisticated cyberespionage.

‘Last year, we detected and blocked half a million unique malicious files daily, which is 7% higher than in 2024. Recent cyberattacks across APAC show that the divide between the online and physical realms is completely gone. Recently, Nichirei Corp suffered a cyberattack that disrupted its logistics network. Meanwhile, India’s manufacturing sector has become an APAC hotspot for industrial ransomware, with groups consistently paralysing factory floors and industrial IT services,’ revealed Hia.

‘AI agents introduce a new supply chain layer-this year alone, Kaspersky has identified over 15,000 malware samples disguised as agentic AI software. Because agents dynamically depend on third-party frameworks, APIs, and plugins, a single compromised upstream dependency can cascade across downstream systems, dramatically expanding the surface for cyber sabotage and cyberespionage. As threats become AI-native and defences AI-powered, APAC organisations must look beyond just stopping attacks and ask whether they actually have visibility into what’s already happening inside their environments,’ he added.

Based on a new report from the Kaspersky Compromise Assessment division, in 31% of incidents that were analysed, malicious activity in organisations had been going on for over three months. Over half (52%) of high-severity compromises were only discovered after 90 days of going undetected, and the oldest incident identified over the last year remained undetected for as long as four years.

The findings point to a broader challenge in security operations. Many organisations have invested in security technologies, but technology alone cannot compensate for gaps in monitoring, detection, and operational readiness.

‘Our recent report highlights why a modern, unified SOC is becoming business-critical. When organisations rely on reactive security practices or lack continuous monitoring, attackers gain valuable time to move laterally, escalate privileges, and compromise critical assets. A mature SOC shortens that window by providing the visibility, expertise, and operational discipline needed to detect threats before they become major incidents,’ Hia said.

SOC built with AI expertise to restore visibility

As cybercriminals increasingly leverage AI to scale and automate attacks, defenders must do the same. Kaspersky has been combining AI with human expertise for the last two decades.

Since 2004, Kaspersky has built and refined advanced Machine Learning (ML) models trained on huge volumes of anonymised global telemetry, collected ethically and responsibly from millions of endpoints worldwide. This reservoir of high-quality data has enabled the company to develop and leverage on AI systems that are not only safe and accurate but also resilient to evolving threats.

‘AI isn’t an add-on at Kaspersky. For the past 20 years, AI has been embedded across our entire technology stack, enabling faster detection, smarter automation, and consistent protection. We have always believed that as cyber threats continue to evolve, the future of cybersecurity lies in the collaboration between AI and human expertise. It is not either or – it is HuMachine Intelligence, as we call it. It is the philosophy that has guided our innovation for years and will continue to shape how we protect organisations against the threats of tomorrow,’ Hia explained.

Companies that manage complex IT infrastructures and handle massive data volumes can leverage the comprehensive solutions from the Kaspersky Next product line, which provide real-time protection, full threat visibility, and robust EDR/XDR investigation and response capabilities. Generative AI models within the platform swiftly transform raw data into structured, actionable intelligence for security teams and decision-makers, enabling them to work more efficiently while reducing manual effort and bridging skill gaps.

Kaspersky also helps organisations restore their visibility through its managed security services such as Kaspersky Compromise Assessment, Kaspersky MDR and Kaspersky Incident Response, which cover the entire incident management cycle – from threat identification to continuous protection and remediation.

To enable a successful SOC deployment and ongoing maintenance, Kaspersky offers early engagement through it Kaspersky SOC Consulting during the initial setup or when enhancing your existing security operations. This comprehensive consulting service is designed to help companies build a robust SOC and streamline its processes.

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On a track that is beginning to assist the spinners gradually India placed themselves in a commanding position in the first cricket Test against Sri Lanka ending a truncated second day at 460-9 at the Galle Cricket International Stadium yesterday.

Play was not possible till 2.35 pm due to persistent rain and in the 43 overs that was possible for the day India added 172 runs for the loss of seven wickets to their overnight score of 288-2. Sri Lanka bowled a lot better, with their spinners being consistent with their lengths and the wickets column was a testament to that.

Debutant Keshara Nuwantha, trusted with the second new ball, removed Rishabh Pant for 39 for his maiden Test wicket and followed it up with Lokesh Rahul’s wicket. Rahul came to resume his innings after retiring hurt on the first day but was out for 82 (175 balls, 10 fours 1 six). Devdutt Padikkal continuing from where he left on the first day reached the 150-run mark before being deceived by a superb delivery from Prabath Jayasuriya to get out stumped for 167. He batted 339 minutes and hit 15 fours and one six in the 230 balls he faced.

At the tea break India had lost half the side for 364. Ravindra Jadeja became Nuwantha’s third victim after the break which brought Dhruv Jurel and Manav Suthar together. The duo forged a 55-run stand to take India’s total past 400. Jurel who got a reprieve on 29 from the Sri Lankan Captain Dhananjaya de Silva at slip went on to notch up a fifty (51 off 68 balls, 4 fours, 1 six) before de Silva made up for his early lapse by pulling of a stunning catch to end his knock.

Mohamed Siraj tried to be aggressive but perished for 11 to Asitha Fernando who bowled splendidly without much luck. Manav Suthar fell to Jayasuriya off the very next ball, but Sri Lanka couldn’t finish off the Indian innings as the final pair survived the last 17 balls of the day to take their team’s total to 460. Jayasuriya ended up as the most successful bowler with 4/109 off 36 overs. Batting is expected to get tougher as the Test progresses and Sri Lanka will face an uphill task to stage a comeback in this game.

The match resumes on the third day today at 9.45 am with a minimum of 98 overs to be bowled weather permitting.