Category: Daily Financial Times

Sri Lanka used the global stage recently to highlight its expanding focus on early childhood development and caregiving reforms, as Women and Child Affairs Minister Saroja Savithri Paulraj participated in the inaugural Global Caregiver Forum 2026 held in Madrid, Spain.

The two-day forum, which began on 15 January under the patronage of Queen Letizia of Spain, brought together policymakers, development experts, and global institutions to shape an international roadmap for early childhood development.

The event was organised in collaboration with the UN Children’s Fund (UNICEF), the World Health Organisation (WHO), and the LEGO Foundation, reflecting a growing global consensus that caregiving and early childhood investment are central to long-term social and economic outcomes.

Minister Paulraj took part as a panellist in the final plenary of the closing session titled ‘Looking Forward and Next Steps,’ alongside senior policymakers and sector leaders from Kazakhstan, Portugal, Ireland, and international parenting and family support organisations. The discussion focused on translating global commitments into national action, particularly in low- and middle-income countries facing structural and post-crisis challenges.

During the session, Sri Lanka outlined a series of policy and program-level interventions aimed at strengthening early childhood care and development. These included the Step-Up communication program designed to promote child health during early childhood, as well as plans to introduce a unified national preschool curriculum by 2027. The proposed curriculum reform will be supported by structured training for approximately 19,000 preschool teachers, signalling a shift towards standardisation and quality assurance in early learning across the country.

The Minister also highlighted the National Multi-Sectoral Strategic Action Plan for Early Childhood Care and Development for 2025-2029, which aims to coordinate health, education, and social protection responses. Complementing this is a five-year program to be implemented at provincial and district levels to support children with neurodevelopmental disabilities, including autism, reflecting an increased policy emphasis on inclusion and specialised care.

Sri Lanka’s broader post-crisis recovery efforts were also presented at the Forum, with the Government’s ‘Rebuilding Sri Lanka’ and ‘Healing Sri Lanka’ initiatives cited as examples of integrated approaches to restoring livelihoods and social well-being following disasters. These initiatives reportedly drew positive attention from State leaders and international participants, particularly for their focus on vulnerable populations.

Sri Lanka’s participation at the Global Caregiver Forum comes amid growing international recognition that early childhood development is not only a social issue but a long-term investment in human capital.

By positioning its domestic reforms within this global framework, Sri Lanka signalled its intent to align national caregiving policies with emerging international standards and best practices.

The Sri Lankan delegation to the Forum included Minister Paulraj, Women and Child Affairs Ministry National Secretariat for Early Childhood Development Director Nilushika Dhanasekara, and UNICEF Sri Lanka Education Officer Shashikala Sumudu Kumari Ratnayake.

Bangladesh’s request to move their matches from India at next month’s T20 World Cup have been rejected by the International Cricket Council (ICC).

Bangladesh asked for their games to be switched from India citing safety concerns amid growing tensions between the countries, and demanded to play them in Sri Lanka, which is co-hosting the tournament, instead.

Indian media reported that Bangladesh had been told to agree to play in India by Wednesday or risk being kicked out of the tournament.

‘It was not feasible to make changes so close to the tournament and that altering the schedule under the circumstances, in the absence of any credible security threat, could set a precedent that would jeopardise the sanctity of future ICC events,’ governing body the ICC said in a statement yesterday.

The T20 World Cup begins on 7 February.

Bangladesh are due to play all four of their group-stage matches in India, including on the opening day against West Indies and against England in Kolkata on 14 February.

All of Pakistan’s matches will be played in Sri Lanka because of the tensions with India.

Bangladesh Captain Litton Das told reporters after a domestic match on Tuesday that it was still ‘uncertain’ whether they will take part in the tournament.

LOLC Finance, Sri Lanka’s largest Non-Bank Financial Institution (NBFI), has announced the launch of its Exclusive Short-Term Fixed Deposits, offering 4-month and 7-month maturity options at some of the most attractive and competitive interest rates in the market.

Designed especially for Sri Lankans who work tirelessly to build and protect their savings, this new product delivers a powerful combination of stability, security, and stronger returns, backed by the most trusted financial entity in the industry.

LOLC Finance Head of Liability Management Roshani Weerasekera said: ‘These new Short-Term Fixed Deposits are designed to give Sri Lankans, especially hardworking families and small businesses, the confidence that their money is in the safest hands, while earning higher returns in a short period. Your hard-earned wealth deserves a home that understands its value, and at LOLC Finance, we are fully committed to safeguarding it and helping it grow.’

‘As Sri Lanka’s largest and most loved NBFI, LOLC Finance has earned the trust of millions by consistently delivering financial empowerment, reliability, and value. Today, we operate on par with leading banks, and we take immense pride in being the institution our customers trust to protect their life savings,’ she added.

As the country’s leading NBFI, LOLC Finance continues to demonstrate strength, resilience, and proven expertise in managing customer wealth responsibly. For the FY 2024/25, the company recorded a Profit After Tax (PAT) of Rs.25.1 billion and has already achieved Rs.14 billion PAT in the first half of FY 2025/26, a remarkable 72% year-on-year growth, indicating that the company is on track to surpass last year’s performance well before the financial year ends. Reinforcing this exceptional trajectory, LOLC Finance maintains a gross lending portfolio of Rs.360.2 billion, while customer deposits have grown to Rs.238.6 billion as at 30 September 2025.

The company’s financial strength reflects the consistent, unbroken trust and loyalty of its customers, a testament to the strong brand equity LOLC Finance has built over its two decades of leadership within Sri Lanka’s financial services landscape. With 30.3% of total industry equity, 20.6% of industry assets, and 36.3% of total industry profits, LOLC Finance stands firmly at the top of Sri Lanka’s NBFI sector, not just as the largest player, but as the most reliable partner for communities striving to safeguard and grow their hard-earned money. LOLC Finance is rated A+ (Stable) by Lanka Rating Agency, reaffirming its financial stability, robust governance, and its commitment to managing customer funds with integrity and reliability.

With the launch of the Exclusive Short-Term Fixed Deposits, LOLC Finance continues its mission to uplift grassroots communities and MSMEs by providing secure, rewarding, and responsible financial solutions. Backed by unmatched financial strength and industry-leading performance, customers can invest with confidence, knowing their future is safeguarded by Sri Lanka’s most trusted financial partner.

A group of political activists last week sent a petition to President Anura Kumara Dissanayake about the lack of recourse for women who are subjected to violence. The petition was signed by more than 100 women from various professional and other backgrounds. The crux of their frustration was that the National Commission on Women (NCW), mandated to safeguard and protect the rights of Sri Lankan women from discrimination and violence, was still not functional to deal with the numerous incidents of violence women are confronted with at home, the workplace and other public spaces including online platforms.

The NCW was set up last year under the Women’s Empowerment Act No 37 of 2024. Despite its designation as an independent commission, the NCW comes under the purview of the Ministry of Women and Child Affairs. The Constitutional Council called for applications and/or nominations to fill its seven member positions by 20 January 2025. Although some of these members have been appointed, it is unclear from the Ministry website if all the positions have been filled. The NCW’s functions which include receiving and investigating complaints about violence against women, appear to be stuck without a budget, an independent office and human and other resources.

Gender based hate speech is increasingly coming to light. In the past months a barrage of online and offline verbal abuse targeting the Prime Minister’s appearance, attire, sexual orientation and competence to hold her current portfolios have been building up. The trending onslaught, an errant entry in a Grade 6 English textbook which is a part of the national curricular undergoing reform and purported to have had details of a gay and lesbian website, has resulted in a no confidence motion against the Prime Minister. Historically, there have been instances where women Members of Parliament have been verbally abused during parliamentary sessions by their male counterparts who have humiliated and belittled them in language with sexual and gender undertones. Last year, Ramanathan Archchuna, a Jaffna District MP notorious for his unbecoming behaviour in Parliament, called a female lawyer (not a MP) a prostitute.

In the run up to the presidential and parliamentary elections of 2024, the National People’s Power mobilised women under the banner Gahanu Api Eka Mitata to build one of the biggest women’s movements in the country. It underscored the NPP’s vision to mainstream women’s politics in keeping with its manifesto pledge to create a society where women, who represent half of the country’s population, enjoy equal rights, free from physical, verbal and emotional violence. The manifesto went on to state that the NPP’s priority will be to uphold and introduce laws in alignment with international charters it has already signed and establish protection mechanisms, leading to the transformation of attitudes and institutional changes.

A part of this drive will be to operationalise the NCW as soon as possible without it being damned into the litter bin as another lip service project. The petition reminds the President that the NCW came about from the struggles of women, a point signifying the people’s ownership of it and the Government’s accountability for it.

Carson Cumberbatch PLC and Bukit Darah PLC have issued their latest response to the Indonesian Government’s plans to nationalise its palm oil plantation.

The update is a follow up to the Announcement dated 28 October 2025 on the ‘Implementation of new laws in Indonesia for Palm Oil Plantations’ which, according to publicly available information, has currently affected approx. 4.1 million hectares of palm oil plantations across Indonesia.

In a filing to the Colombo Stock Exchange, the two companies said based on information received from their subsidiary, Goodhope Asia Holdings Ltd. (Goodhope). Goodhope has continued its engagement with the Presidential Task Force established by the Government of Indonesia and has attended meetings and provided information as requested. The Task Force has intimated to Goodhope a provisional administrative fine of approximately IDR 1,826 billion (equivalent to approximately $ 108.4 million) which has been communicated as a temporary notification and subject to future adjustment and finalisation following further review by the Task Force.

Goodhope has sought detailed clarification from the authorities regarding the basis and methodology underlying this provisional computation and is actively discussing the matter. It has adequate liquidity to manage the impact, if imposed.

The company further reiterates its continuing commitment to full compliance with applicable Indonesian laws and regulations and remains engaged in constructive dialogue with the relevant authorities to ensure regulatory adherence and operational continuity, and to safeguard the interests of all stakeholders.

The Bar Association of Sri Lanka (BASL) yesterday said it is deeply concerned about recent social media posts that target the Attorney General.

‘These social media posts seek to unfairly interfere with the independence of the office of the Attorney General,’ the BASL said in a statement.

It also said the following.

It must be noted that the Attorney General performs a quasi-judicial role in respect of criminal matters. The Attorney General has to decide whether or not to charge/indict a suspect based on the material available and submitted to him by the investigating authority. In doing so, the Attorney General will be required to consider whether such material is admissible in law and, whether based on such material, there exists a reasonable prospect of a conviction.

The decisions of the Attorney General are reviewable, by way of the exercise of Writ jurisdiction before the Court of Appeal or by way of the exercise of the Fundamental Rights jurisdiction before the Supreme Court.

It must also be understood that judicial officers and quasi-judicial officers have to make decisions according to law, which sometimes may not necessarily reflect the popular view.

In case of Victor Ivon v. Sarath N. Silva, Attorney-General and Another (1998) 1 Sri.L.R. 340 at 349, it was observed by Justice Mark Fernando that ‘A citizen is entitled to a proper investigation – one which is fair, competent, timely and appropriate – of a criminal complaint, whether it be by him or against him. The criminal law exists for the protection of his rights – of person, property, and reputation – and lack of a due investigation will deprive him of the protection of the law.’

Whilst every citizen has a right to critique the decisions of public officials including the Attorney General, it must be done in a manner that will not undermine the independence of the office of the Attorney General and to the detriment of the rule of law. The officers of the Department of the Attorney General should not be subject to unwarranted and unfair interference from sections of the public or media who do so to achieve their partisan ends.

The BASL firmly believes that it is the duty of the Government and the law enforcement agencies to ensure that there is no unwarranted interference with the exercise of the powers of the Attorney General. The Government must ensure the protection of the independence of key institutions, including that of the office of the Attorney General, which is essential to protect the rule of law in our country.

We strongly urge that the independence and integrity of the office of Attorney General be protected at all times to ensure the protection of the cherished principles of justice and freedom.

Cabinet Spokesman and Minister Dr. Nalinda Jayatissa yesterday clarified that while a Chinese national is among the shareholders of the proposed Ambuluwawa cable car project, no Chinese company pulled out of the venture, amid growing public debate and scrutiny over the development.

Speaking at the weekly post-Cabinet meeting media briefing, he said the Government had taken note of public concerns surrounding the project, but cautioned against narratives that could undermine investor confidence at a critical time for the country’s economic recovery.

He warned that editorials and opinion pieces discouraging investment risk damaging Sri Lanka’s image as it works to overcome a prolonged economic crisis following multiple shocks.

The Cabinet Spokesman reiterated that the Government remains committed to encouraging investment, while ensuring transparency, accountability and strict adherence to environmental and safety standards.

Dr. Jayatissa explained that the cable car project was offered on 16 June 2023 by the Board of Trustees of the Ambuluwawa Religious Centre and Trust Fund to a private company, Amber Adventures Ltd.

‘The trust was established under Gazette No. 44 of 2009 and is chaired by Dissanayake Mudiyanselage Anuradha Lanka Pradeep Jayarathna. Its board of trustees includes Samaraweera Mudiyanselage Indika Prasad, Godamunne Wedagedara Chandraratne, Sivan Gnanasekaran, Meewature Vajiragnana Thera, M. Asath Sally and J.M. Senanayake Bandara,’ he said.

According to the Cabinet Spokesman, the initial Board of Directors of Amber Adventures Ltd comprised one Chinese national Huwan Yupin, together with Samarasinghe Herath Bandula Karunaratne, Jayasekara Mudiyanselage Senanayake Bandara, who also serves as a trustee of the Ambuluwawa Trust, and Suresh Deepal Subasinghe.

He detailed that Huwan Yupin holds 36 shares in the company, while Jayasekara Mudiyanselage Senanayake Bandara holds 14 shares. Two other private companies hold 16 and 34 shares respectively.

Dr. Jayatissa stressed that the presence of a Chinese individual shareholder should not be misconstrued as Chinese corporate ownership.

Following the warnings of increased landslide risks in the Central highlands, the Government suspended all development activities in the Ambuluwawa area pending a comprehensive technical evaluation.

He said concerns had intensified after assessments by the National Building Research Organisation (NBRO) in the aftermath of Cyclone Ditwah, with preliminary findings indicating that the area is vulnerable to further landslides.

In response, the Environment Ministry has directed that no further development take place until a thorough technical assessment is completed. A technical committee appointed by the Environment Minister is scheduled to conduct a field inspection on 10 February and submit a detailed report thereafter.

‘We as a Government believe that a technical evaluation of the site is essential before greenlighting any project. We have a responsibility to protect human lives and the biodiversity,’ Dr. Jayatissa said, underscoring that public safety would take precedence over development timelines.

He also acknowledged that in 2024 the Auditor General had issued directives calling for a comprehensive investigation into allegations of corruption and misconduct linked to the project.

Dr. Jayatissa said further details on the progress of these investigations would be disclosed next week.

Ambuluwawa is a biodiversity complex and Sri Lanka’s first multi-religious sanctuary, located in the central highlands. In 2023, the Board of Investment announced that it had signed an agreement with Amber Adventures Ltd for a $ 4.5 million investment to develop Sri Lanka’s first cable car experience at the site, in collaboration with the Ambuluwawa Biodiversity Centre.

According to the BOI, the project was to be constructed with technical and product expertise from the China Machine-Building International Corporation. The planned cable car system spans 1.5 kilometres, with three stations providing entry and exit points, and the route designed to pass through the biodiversity centre’s forest range.

‘The Government maintains that while investment is welcome, projects in environmentally sensitive areas such as Ambuluwawa will be subject to rigorous scrutiny to balance development goals with environmental protection and public safety,’ Dr. Jayatissa said.

Most transformation fails for one simple reason: Leaders try to change systems before they change signals.

You can roll out a new KPI dashboard, a new AI initiative, a new org structure, a new ‘values refresh’. and still end up with the same meetings, the same politics, the same excuses, the same silent resistance.

Why?

Because culture isn’t what you announce. that also mean its NOT Values you Impose!

Culture is what people’s brains predict will happen when they speak up, take initiative, or make a mistake.

And prediction lives in the brain. specifically, in the way different people process information, threat, status, and certainty.

That’s where Colored Brain comes in: it gives everyone, even the lowest person in the organisation, a practical, human way to see what’s happening under the surface, so transformation becomes real, measurable, and repeatable. It is NOT personality, it is NOT Behaviour. it is your HOW! How you get clarity and deal with ambiguity.

Transforming your culture

Here’s a question that changes everything:

When people feel uncertainty, do they get clarity, or do they get chaos?

Every human brain tries to reduce ambiguity. That’s not a personality flaw; it’s a survival feature.

But here’s the culture trap:

When ambiguity shows up (new tech, new boss, new expectations, restructuring), people don’t wait for your strategy deck. They look for social signals:

What gets rewarded here?

What gets punished here?

Who is safe to challenge?

What happens if I fail?

Do I Even Know WHATS GOING ON?

Culture is the collective ‘answer’ people learn, often unconsciously.

If your organisation answers ambiguity with blame, confusion, politics, or silence. transformation becomes theatre.

The Colored Brain: Same company, different reality

In every transformation, you’re not leading ‘one organisation.’

You’re leading multiple interpretations of the same reality.

Here’s a quick way to see it:

Some people process through logic and accuracy (they want proof, structure, clear definitions).

Some process through people and relationship (they want trust, inclusion, respect).

Some process through speed and action (they want progress, ownership, momentum).

Some process through possibility and innovation (they want vision, options, experimentation).

Same change announcement. Four different brain reactions.

So ask yourself:

When you say ‘We’re transforming,’ what do you think each Colored Brain hears?

‘This is exciting!’

‘This is risky!’

‘This is vague!’

‘This is more work!’

None of those are ‘wrong.’ They’re predictable.

And leadership is the ability to turn that predictability into alignment.

Leadership is not motivation. It’s translation

Most leaders try to inspire everyone with one message.

That’s like trying to teach four languages using one sentence.

Leadership in transformation means you can translate the purpose into the emotional logic each brain needs to commit.

Here’s what that looks like in practice:

1) Translate purpose into personal meaning

Don’t just say, ‘We need to transform.’

Say:

What problem are we solving?

Who suffers if we don’t change?

What becomes possible if we do?

And then ask:

What does ‘winning’ look like for each team, not just the company?

Purpose is not a poster. Purpose is felt relevance.

2) Translate change into safety and clarity

If people don’t know what ‘good’ looks like, they protect themselves.

So remove ambiguity:

What decisions move closer to the goal?

What behaviors are now expected (and which are not)?

What does success look like in 30 days, not 12 months?

Ask:

Have we made it clear enough that people can act without fear?

3) Translate culture into daily micro-behaviours

Culture doesn’t change with a workshop.

Culture changes when daily behavior shifts:

How leaders respond to bad news

How conflict is handled

How decisions are made

How accountability works

How learning is rewarded

Transformation needs ‘Signal Consistency’

Here’s the harsh truth:

If you want transformation, you must become obsessed with one thing:

Signal Consistency, Walk the Talk, Be Authentic. and all the other cool ways to say ‘you should do what you say’

People watch what leaders do under pressure. That’s the real training program.

If leaders say ‘innovate’ but punish mistakes, the signal is: don’t take risks.

If leaders say ‘collaborate’ but reward solo heroes, the signal is: compete internally.

If leaders say ‘speak up’ but shut down disagreement, the signal is: stay quiet.

So the question is:

What signals are you sending, especially when you’re tired, stressed, or rushed?

That’s your culture.

The Transformation Formula (Simple, not easy)

If you want a transformation that sticks, build it like this:

1. Shared Meaning (people emotionally connect to the ‘why’)

2. Shared Clarity (people understand the ‘what now’)

3. Shared Language (Colored Brain gives a practical translation tool)

4. Shared Reinforcement (signals and rewards match the desired behavior)

5. Shared Ownership (teams feel ‘this is ours,’ not ‘this is imposed’)

And yes. this is where leadership becomes a craft, not a title.

The real test

Let me leave you with three questions you can use immediately:

1. Where is ambiguity highest in our organisation right now?

2. Which Colored Brain styles are being unintentionally ignored, or frustrated?

3. What is one leadership behavior we will reinforce daily for the next 30 days?

Transformation doesn’t start with technology.

It starts with humans feeling clear, safe, and committed, because their brains can finally predict success.

So. what are you transforming first? Your org chart? Or your signals?

The Colombo stock market rebounded yesterday with the main index closing at an all-time high on sustained buying interest throughout the session.

The ASPI closed 0.77% on the up, gaining 182.58 points to close on a new high of 23,806.32 points. The active S and P SL20 closed 1.14% or 74.52 points on the up to 6,619.32.

Market turnover was over Rs. 9.8 billion on nearly 180.3 million shares traded. Foriegn investors were net sellers on a net outflow of Rs. 51.1 million.

NDB Securities said the ASPI closed in green as a result of price gains in counters such as Hayleys, Colombo Dockyard and Sampath Bank.

High net worth and institutional investor participation was noted in Hatton National Bank, Renuka Foods and Central Finance Company. Mixed interest was observed in Colombo Dockyard, Hayleys and ACL Cables, while retail interest was noted in Lanka Credit and Business Finance, Renuka Agri Foods and Hikkaduwa Beach Resort.

The capital goods sector was the top contributor to the market turnover due to Colombo Dockyard, Hayleys and ACL Cables with the sector index gaining 2.66%.

The share price of Colombo Dockyard increased by Rs. 29.50 to close at Rs. 143.25, Hayleys moved up by Rs. 30.50 to Rs. 248.50, and ACL Cables appreciated by Rs. 1.75 to Rs. 107.

The banking sector was the second highest contributor to the market turnover due to Hatton National Bank, while the sector index increased by 0.35%. Hatton National Bank gained Rs. 2.75 to close at Rs. 423.25. Renuka Foods was also included amongst the top turnover contributors with the share gaining Rs. 5.10 to Rs. 71.90.

First Capital Research said the bourse moved up steadily during the day, supported by sustained buying interest throughout the session. Top positive contributors for the ASPI were HAYL, DOCK, SAMP, VONE and SLTL. Daily turnover marked an 86.6% increase over the monthly average of Rs. 5.3 billion.

HNW investor interest were among banking, diversified financials and construction sector counters, while the broad market were keen on export-oriented companies following the recent LKR depreciation. The capital goods sector led the daily turnover by 44%, followed by the banking, and food, beverage and tobacco sectors collectively contributing 28%.

Nations Trust Bank PLC (NTB) has secured a debt financing package of up to $ 70 million from World Bank Group’s private sector arm, the International Finance Corporation (IFC), to support the recovery of small businesses which were disproportionately affected by Sri Lanka’s multiple crises.

This is the IFC’s first debt transaction in Sri Lanka’s financial sector since the 2022 financial crisis. The investment forms part of the IFC’s longstanding partnership with NTB, reinforcing the IFC’s confidence in NTB’s strength and reliability.

The investment package, comprising a $ 50 million senior unsecured loan and $ 20 million Global Trade Finance Program line, is expected to enhance NTB’s capacity to expand support to key economic segments as Sri Lanka’s recovery gains momentum.

The investment is projected to enhance Small and Medium Enterprises (SMEs), especially women-owned businesses, which represent the backbone of the national economy. According to the MSME Financing Gap Database, the SME financing shortfall in Sri Lanka exceeds 20% of GDP, highlighting the critical need for sustained credit access.

NTB…

NTB Director/CEO Hemantha Gunetilleke said: ‘NTB’s longstanding strategic partnership with the IFC has enabled this investment at a pivotal time for Sri Lanka’s economy. This transaction allows NTB to extend essential financing that is vital to the country’s recovery and long-term growth. By expanding access to credit for underserved sectors, NTB remains committed to supporting sustainable economic development.’

IFC Regional Industry Director – Financial Institutions Group (Asia and Pacific) Allen Forlemu said: ‘Our collaboration with NTB is a clear signal of the IFC’s commitment to supporting Sri Lanka’s private sector. Building on our longstanding partnership, this latest investment will expand affordable, long-term financing for SMEs – the engine of the country’s economy. By empowering these entrepreneurs, we are fuelling growth, creating jobs, and securing a more inclusive, resilient future for all Sri Lankans.’

Aligned with World Bank Group priorities for Sri Lanka, this partnership aims to deliver targeted solutions for SMEs, helping businesses overcome challenges and supporting the country’s long-term economic resilience.