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The Ministry of Industries and Entrepreneurship Development, together with the National Productivity Secretariat, launched the second phase of the National Programme to Develop 1000 Young Entrepreneurs (4i Project) on Wednesday (22).

Parliament Secretariat yesterday said that the Committee on Public Finance has granted its approval for the Appropriation Bill for the year 2026.

The approval was given during a committee meeting held in Parliament on 23 October under the chairmanship of MP Dr. Harsha de Silva.

Officials from the Ministry of Finance briefed the Committee on the proposed allocations for various sectors and the fiscal targets for 2026. After extensive discussions on these matters, the Committee granted its approval for the Bill.

The Appropriation Bill for 2026 is scheduled to be presented to Parliament for the second reading, or Budget Speech, by President Anura Kumara Disanayake in his capacity as Minister of Finance on 7 November.

The Government yesterday unveiled the National Climate Finance Strategy 2025-2030, outlining a roadmap to strengthen resilience and steer Sri Lanka’s transition toward a net zero economy. As climate-related losses exceed Rs. 50 billion each year, the strategy seeks to mobilise financing to manage climate risks and fund a just transition-an increasingly urgent priority for Sri Lanka’s development agenda.

The strategy provides a comprehensive roadmap to leverage and channel climate investments effectively, marking a key step in aligning national development with global climate goals.

It identifies 12 key financial instruments, including disaster risk insurance, green bonds, public-private partnerships for climate action, natural capital accounting, entrance fees, a green revolving fund, carbon markets, and environmental, social and governance (ESG) swaps, to leverage resources and drive climate action across sectors.

The initiative is led by the Ministry of Finance in collaboration with the United Nations Development Programme (UNDP) through the Climate Finance Network project, funded by the Government of the United Kingdom.

The National Climate Finance Strategy underscores Sri Lanka’s commitment to accelerating climate resilience and sustainable development through strategic financial planning.

Speaking at the launch of the strategy, Treasury Secretary Dr. Harshana Suriyapperuma said: ‘The National Climate Finance Strategy is a critical enabler for Sri Lanka’s climate ambitions. It provides the financial architecture needed to operationalise climate policies and plans, ensuring that we can build resilience, reduce emissions and protect vulnerable communities.’

UNDP Sri Lanka Resident Representative Azusa Kubota said: ‘Financing climate action is not just about managing risks, it’s about unlocking opportunities. This Strategy will help Sri Lanka attract smart investments, foster innovation, and build a climate-resilient economy that benefits all. UNDP remains committed to supporting the operationalisation of the Strategy by working on one of the proposed solutions, Green Revolving Fund, while ensuring that its priorities translate into tangible action across sectors.’

British High Commissioner to Sri Lanka Andrew Patrick said: ‘Sri Lanka’s Climate Finance Strategy creates a strong foundation for international collaboration. When countries clearly articulate their climate goals it opens doors not only to climate finance but also to responsible investment. The UK is proud to support Sri Lanka in its journey toward a resilient, low-carbon future.’

The milestone strengthens Sri Lanka’s capacity to access international finance and align national planning with climate priorities. With its first review scheduled for 2027, the Strategy marks a decisive step toward aligning Sri Lanka’s development agenda with global climate goals.

As the global community prepares for COP30, Sri Lanka’s National Climate Finance Strategy presents an opportunity for partners and stakeholders to support the country’s climate commitments to mobilise resources, strengthen implementation, and advance progress toward the Paris Agreement and the Sustainable Development Goals, a joint statement said.

The launch marks a significant move by the Government of Sri Lanka, UNDP, and the UK Government to unlock pathways that mobilise funds for climate resilience and sustainable development.

Arpico has recently hosted Arpico Mattress Achievers Night 2025, an award ceremony celebrating a year of collaboration and outstanding shared achievements with local entrepreneurs, businesses, and company staff members.

Occupying a special place on Arpico’s event calendar for the Foam Sector, the event appreciates and rewards collaborators for accumulating impressive sales. Held at Cinnamon Life at City of Dreams, the awards ceremony recognised the efforts of 150 dealers, with target awards categorised into Platinum, Gold, Silver, and Bronze tiers. These accolades were awarded to the company’s star performers in recognition of their exceptional sales and revenue generation within their respective territories. The awards also highlighted excellence in customer service.

Additionally, this year’s edition included sponsored international tours alongside its sales awards. The Bronze category, whose accolades were based on achievement, offered the winners tours of Malaysia or Bangkok. Similarly, the Silver category, based on sales achievements, awarded tours in Bangkok, Pattaya, and Dubai. Meanwhile, the tour allocated to the Gold category included the Philippines while the Platinum award offered tours of Austria, Hungary, and Dubai.

Richard Pieris and Company PLC Director Viville Perera said, ‘As our portfolio continues to expand, we recognise the crucial role played by our partnerships and collaborators. Just as they upscale efforts in ensuring customers receive improved access to products, we recognise the importance of celebrating their work of delivering our products to a wider customer base. These awards not only recognise and support their continued professionalism and commitment but also reaffirm how much we value our partnerships.’

Arpico Mattress Achievers Night reaffirmed the company’s standing as a trailblazer within the local industry, drawing attention to its many achievements across 2025. Key milestones in Arpico’s journey this year included the introduction of Englander International, delivering globally recognised US mattress technology to the people of Sri Lanka, and the unveiling of Arpico NextGen, a first-of-its-kind mattress design with air cooling pocket technology, to the local market. These achievements demonstrate Arpico’s commitment to developing locally rooted and globally inspired products.

Richard Pieris and Company PLC Managing Director – Foam Sector Lalith Wijeyesinghe added, ‘Under the guidance of Dr. Sena Yaddehige, our Chairman, Managing Director, and CEO of Richard Pieris and Company PLC, we’ve established a solid foundation that lets us strategically map a future of new opportunities and potential within the sector. With our visionary leader driving our progress, we will continue to leverage the latest advancements in technological innovation just as we modernise and expand our diversified collection of products.’

Sri Lanka celebrated a historic moment at the Asian Youth Games (AYG) 2025 in Bahrain, as young middle-distance runner Lahiru Achintha brought home the country’s first-ever Gold Medal at the event. His triumph in the Boys’ 1500m final marked a milestone for Sri Lankan athletics on the Asian stage.

Hailing from Ratnapura, Lahiru delivered a performance of sheer class and determination, clocking an outstanding 3 minutes 57.42 seconds to secure the top spot. Competing against a field of talented runners from across Asia, Lahiru showed exceptional pace, endurance, and race awareness to outshine his rivals in what was one of the most thrilling finishes of the Games so far.

His victory not only earned Sri Lanka its maiden gold in Bahrain but also showed the country’s growing strength in middle-distance running. Lahiru’s achievement stands as a results to his discipline, training, and commitment to excellence – a performance that will undoubtedly inspire a new generation of young Sri Lankan athletes.

Adding further pride to the nation, Nethmi Gimhani Pulle made her mark in the Girls’ 1500m final, clinching Sri Lanka’s first Bronze Medal at the Games. Clocking 4 minutes 52.32 seconds, Nethmi displayed tremendous fighting spirit, staying composed under pressure and pushing hard in the final stretch to secure a podium finish.

Her medal-winning performance added balance to Sri Lanka’s athletics campaign, proving that both the boys’ and girls’ teams have the talent and potential to compete at the highest level in Asia. Nethmi’s result also underlined the steady progress of women’s athletics in Sri Lanka, where young female athletes continue to rise through dedication and perseverance.

The two medals one Gold and one Bronze brought immense joy and motivation to the entire Sri Lankan contingent. With 100 youngsters repressing the nation, including 56 boys and 44 girls, this early success has provided a much-needed boost of confidence for the remaining events.

Team officials expressed optimism that Lahiru’s and Nethmi’s achievements will have a ripple effect across the camp, lifting morale and inspiring others to give their best in the days ahead. The victories serve as proof that Sri Lanka can compete shoulder-to-shoulder with Asia’s sporting powerhouses when talent is backed by preparation and self-belief.

Their success also reinforces the importance of continued investment in grassroots athletics from school-level training to international exposure to build on this foundation and create future champions.

As the Asian Youth Games 2025 continues, Sri Lanka’s young athletes carry renewed determination and pride, inspired by Lahiru Achintha’s golden stride and Nethmi Gimhani Pulle’s bronze brilliance – a shining start to what could be one of the nation’s most memorable youth sporting campaigns.

In the Boys Basketball segment Iran beat Sri Lanka 7/21 while in the Girls event Iran beat Sri Lanka 6/21. Basketball 3 X 3 Sri Lanka beat Bangladesh 21/6 and Yemen 22/16. In the Girls event Sri Lanka edged out Maldives 19/14.

Women and Child Affairs Minister Saroja Savithri Paulraj has instructed ministry officials and the National Women’s Committee to extend full support to the National Commission on Women to establish the infrastructure and facilities required to begin its operations.

The directive was issued during a meeting held on Thursday with the newly appointed Chairperson and members of the Commission at the Ministry of Women and Child Affairs.

The discussion was attended by Deputy Minister Namal Sudarshana, Chairperson Ramani Jayasundara, Commission Members – Open University of Sri Lanka Senior Lecturer Janaha Selvaras and Consultant Neurologist Dr. Padma Shriyani Gunaratne, Secretary to the Ministry Tharangani Wickramasinghe, and other senior officials.

The National Commission on Women, established under the Women’s Empowerment Act No. 37 of 2024, is an independent body mandated to safeguard and promote the rights of women. It is expected to begin official operations

British High Commissioner to Sri Lanka Andrew Patrick yesterday said Sri Lanka’s new National Climate Finance Strategy 2025-2030 will help the country access international climate funding and attract investors to climate-related opportunities.

He said the strategy was a critical step for the Sri Lankan Government to meet due diligence requirements and plan for the medium-term economic impacts of climate change.

‘There are some very obvious and very serious ones for Sri Lanka in terms of your agricultural sector and your tourism sector, which depends on biodiversity. Both of those are threatened by the impacts of climate change,’ he said.

Patrick said the UK has been a central contributor to global climate finance and continues to support Sri Lanka through its Climate Action for Resilient Asia program. ‘Without a climate finance strategy of this kind, it is much harder for the Government to access those funds,’ he said.

He added that Sri Lanka was also well positioned to benefit from renewable energy investments, especially in wind power, where the UK has supported offshore and onshore development initiatives. ‘Sri Lanka has huge capacity to generate offshore wind power,’ he said.

Patrick also outlined other UK-supported projects, including work with IMI on groundwater salinity in Jaffna and regional initiatives to improve climate forecasting and disaster preparedness. He said better prediction systems have already reduced casualties from extreme weather events despite the increase in climate-related crises.

‘The British Government is proud to be working with the UNDP and the Government of Sri Lanka on this very important agenda,’ he said, adding that international collaboration will be key to turning climate risks into long-term investment opportunities.

Sri Lanka’s young golfing sensations, Kaya Daluwatte and Reshan Algama, continued to impress on Day 2 of the Asian Youth Games 2025 in Bahrain, keeping the island’s hopes of a medal well within reach as the tournament heads into its decisive final round at the Royal Golf Club in Bahrain today.

Both players displayed exceptional composure and skill against a strong field representing the continent’s finest junior golfers.

Kaya Daluwatte, who started the tournament brilliantly with a three-under-par round on Day 1, took her game to another level on the second day. The talented young star fired a magnificent 8 under par 64 ending Day 2 with an overall score of 11-under-par, with a total score of 133 tied with 3 more golfers from China (2) and Singapore for the 2nd position. She was just one stroke behind the leader Menghan Li of China who maintained her dominance at top of the leaderboard. Kaya’s round was a masterclass in consistency with steady drives, sharp iron play, and a confident touch on the greens.

Her day was highlighted by a string of birdies across both nines, showing her growing maturity and control under pressure. The 17-year-old from Sri Lanka has been steadily climbing the ranks in the Asian junior golf circuit and this performance at Bahrain’s challenging desert course is further evidence of her rising potential. With one round left to play, Kaya remains a strong contender for a podium finish, if she maintains her current rhythm.

Meanwhile, in the Boys’ division, Reshan Algama also produced a commendable display, ending Day 2 tied for 7th place with 2 under-par round of 70. His steady performance kept him within striking distance of the leaders as he aims to climb the leaderboard on the final day. Reshan totalled 144 strokes. China’s Jin Han took charge in the boys’ category with a superb five-under-par of 67 with a total of 135 strokes.

Reshan’s round was marked by solid course management particularly on the back nine where he recovered from a bogey to card two birdies and stay in contention. Known for his disciplined approach and calm temperament, he will be looking to go low on the final day to push for a medal a feat that would mark a historic achievement for Sri Lankan junior golf.

Meanwhile Jevahn Sathasivam and Adhithya Weerasinghe had a tough day ending on the bottom half of the 51 strong junior golfers among Asia.

As the event heads into its final day, the Royal Golf Club in Bahrain is set for a thrilling climax. With Kaya in striking distance of the top and Reshan within reach of the leaders, Sri Lanka’s young golfers have positioned themselves among Asia’s elite. Their performances have not only raised hopes for medals but have also underlined the steady progress Sri Lanka is making in youth golf development.

Coach and Manager Mithun Perera, speaking to Daily FT, said he had the confidence in both players’ ability to finish strong under pressure. With calm conditions expected on the final day, both Kaya and Reshan will have the perfect stage to show their skills and potentially bring glory to Sri Lanka on the continental stage.

The International Monetary Fund (IMF) has called on Asian economies to reduce non-tariff barriers and strengthen regional trade integration to shield themselves from US tariffs and global financial volatility.

In its latest Regional Economic Outlook for Asia, the IMF said the region’s strong dependence on trade, particularly with China at the centre of global supply chains, leaves it exposed to disruptions from escalating US-China tensions and higher US import duties.

The report noted that growing trade friction with the US, coupled with an investment surge in artificial intelligence, has fuelled an increase in trade within Asia.

Deeper integration, supported by the removal of trade barriers, would allow countries to diversify export markets, cut costs, and better withstand external shocks, the IMF said.

‘If Asia integrates more within the region, that itself provides a buffer against external shocks,’ IMF Asia-Pacific Department Director Krishna Srinivasan said. He said about 60% of Asia’s exports are intermediate goods traded within the region, while only 30% of final goods are sold regionally, a sign of continued reliance on US and European markets.

The IMF said broader, multilateral trade frameworks similar to those in the European Union could benefit Asia, as the current network of bilateral deals often leads to inconsistent standards.

It also highlighted that non-tariff barriers, which rose during the pandemic and remain widespread, are dampening regional trade prospects.

Some Asian countries have begun easing such barriers during negotiations with the United States, which the IMF described as a welcome development.

Greater regional integration could raise Asia’s GDP by up to 1.4% over the medium term, and boost output among ASEAN economies by as much as 4%, the Fund said.

Asia’s economy is expected to grow 4.5% in 2025, slightly slower than 4.6% last year but stronger than earlier projections, driven in part by front-loaded exports ahead of potential new US tariffs.

Growth is forecast to ease to 4.1% in 2026 amid weak Chinese demand and subdued consumption in emerging markets.

‘Trade policy uncertainty has declined somewhat since April but remains elevated, and could weigh on investment and confidence more than expected,’ the IMF cautioned.

SriLankan Airlines yesterday issued the following statement clarifying its financial performance for 2024/2025:

‘SriLankan Airlines wishes to clarify recent reports concerning the airline’s financial performance for the financial year 2024/25.

The Group reported a loss of Rs. 2,735 million in 2024/25, compared to a profit of Rs. 7,925 million in 2023/24. This variance was primarily due to a reduced exchange gain of Rs. 3,925 million in 2024/25, compared with the previous year’s exchange gain of Rs. 26,717 million.

This exchange gain arises from the revaluation of foreign currency denominated interest bearing liabilities, where an appreciation of the rupee results in a gain. Excluding the exchange gain, the Group loss for 2024/25 amounted to Rs. 6,660 million, compared to a loss of Rs. 18,792 million in 2023/24 prior to accounting for the exchange gain’.