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The Foreign Affairs, Foreign Employment, and Tourism Ministry, in close coordination with the Sri Lanka Mission in Egypt and the Eritrean authorities, has successfully facilitated the repatriation of six (06) Sri Lankan seafarers who were previously detained in Eritrea.

On the instructions of the Foreign Affairs, Foreign Employment and Tourism Minister Vijitha Herath, the Ambassador of Sri Lanka in Cairo, concurrently accredited to Eritrea, was in Asmara, the Capital of Eritrea to attend to the relevant procedures and arrange their departure from Eritrea. Officials from the Ministry of Foreign Affairs, Foreign Employment, and Tourism received the group of Sri Lankans at Bandaranaike International Airport, Colombo, yesterday.

The Foreign Affairs, Foreign Employment, and Tourism Ministry will continue to provide consular assistance to Sri Lankans abroad and will take all necessary measures to protect their interests.

Prime Minister Harini Amarasuriya yesterday told Parliament that the Government has informed the Office of the UN High Commissioner for Human Rights (OHCHR) of its opposition to establishing an international mechanism to address human rights violations.

She said such mechanisms tend to deepen divisions among communities in Sri Lanka. However, the Government has conveyed its commitment to setting up a domestic process to deal with human rights concerns.

‘The Government will work with international organisations while focusing on a domestic mechanism to deal with human rights violations,’ the Prime Minister said.

Treasury Secretary Dr. Harshana Suriyapperuma yesterday said Sri Lanka will move to mobilise private and international capital to implement its new National Climate Finance Strategy 2025-2030, signalling the Government’s intent to link financial markets with climate priorities.

He said the Government cannot rely on public resources alone to fund mitigation and adaptation needs, and will develop market instruments and frameworks to attract investors and institutions into climate-related projects.

‘As a Government with limited resources at our disposal, we will not be able to combat this alone,’ he said. ‘That is why it is important to have a plan to attract other partners for funding and to invite the private sector to take part in this journey.’

Dr. Suriyapperuma said Sri Lanka will create climate finance products and strengthen governance structures to ensure transparency and credibility.

‘With the enthusiasm in the capital markets today, we can use these platforms to show that we are ready, that products are available, and that a governance framework will be in place to manage them,’ he said.

He emphasised that the strategy would prioritise partnerships with development agencies and international investors, while also encouraging innovation from local businesses.

‘Our engagement is to ensure our needs are met with innovations outside, thinking outside the box to attract funding and create the solutions we need,’ he said.

Noting Sri Lanka’s high exposure to climate risks in sectors such as tourism, agriculture and the marine economy, Dr. Suriyapperuma said the Government aims to adopt a proactive approach to resilience-building rather than reactive measures.

‘The stakes are higher unless we act now,’ he said, adding that the strategy marks a coordinated effort to align fiscal planning with sustainability and investment opportunities.

Sri Lanka Customs and other authorities are to expedite release of several vehicles imported on cross border LCs on undertakings and guarantees given to the Court of Appeal and Sri Lanka Customs.

The matter came up earlier this week before the Court of Appeal President Justice Rohantha Abeysuriya and Justice Priyantha Fernando in CA Writ 847/25, to an application recorded in court, ASG Sumathi Dharmawardena informed court and recorded in court that he will direct the Register of Customs and all other authorities to expedite the release of the vehicles and start processing the CUSDECs subject to certain guarantees and undertakings to be given to Sri Lanka Customs.

On behalf of a personal importer Counsel Nishan Sydney Premathiratne informed and reordered in Court that his client is willing to provide a personal guarantee on the surcharge sum that is to be decided and as cars are exposed and deteriorating and the security of the vehicle of his client is a serious concern, moved court and the authorities for urgent intervention in respect to the release of the vehicles.

The Counsel recorded an undertaking in the presence of his client who was also in Court that his client unequivocally and unconditionally undertakes to submit a personal guarantee to be furnished on the sum to be stipulated by the Respondents which was to be subject to and without prejudice to his client’s rights in the case.

Further on behalf of the client, Counsel Premathiratne also undertook and recorded in court that his client will not proceed to register the vehicle until an appropriate order is made by the court or until his client agrees to pay whatever dues which is required.

In lieu of the proceedings in this matter, the Lordships of the Court of Appeal permitted the other Petitioners in the other cases also to tender required undertakings to Court and permitted them to sign the case record accordingly confirming the undertaking.

ASG Sumathi Dharmawardena informed court that a Gazette is also to be effected in respect of this subject matter and the additional surcharge on or before Friday (24 October). Most of the cases in relation to this matter were fixed for 12 November for support.

Petitioners in connected cases were represented by President’s Counsels Ikram Mohamed, Sanjeewa Jayawardene and Faizer Mustapha.

The Petitioner in the case CA Writ 847/25 was represented by Counsel Nishan Sydney Premathiratne who appeared with Shenali Dias and Vikum Jayasinghe on the instructions of Gamindu Karunasena.

ASG Sumathi Dharmawardane, DSG Chaya Sri Nammuni and SC Rajika Aluwihare appeared for the State.

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) continued to extend its influence across the region with the appointment of Past President Sanjaya Bandara as its official representative to the Asian-Oceanian Standard-Setters Group (AOSSG), the distinguished regional body that brings together accounting standard-setters from Asia and Oceania to advance the consistent application of high-quality financial reporting standards.

The appointment was formally communicated on behalf of AOSSG to CA Sri Lanka Chair Rana M. Usman Khan and Bandara. In his official communication, Khan extended a warm welcome to Bandara, acknowledging CA Sri Lanka’s longstanding contribution to the Group’s objectives and its continued commitment to strengthening financial reporting practices in the region.

CA Sri Lanka has been an active and valued member of the AOSSG since its inception, contributing significantly to the Group’s initiatives aimed at enhancing the adoption and implementation of International Financial Reporting Standards (IFRS). The Institute is also a member of the Chair’s Advisory Committee and currently leads one of the AOSSG Working Groups, reaffirming its leadership role in regional standard-setting activities.

Bandara served as the 26th President of CA Sri Lanka for the term 2022/2023. A Fellow Member of CA Sri Lanka, he holds a Bachelor of Science degree in Accountancy and Financial Management from the University of Sri Jayewardenepura and a Master of Business Administration from the University of Colombo.

He has served as a Board Member of the Confederation of Asian Pacific Accountants (CAPA) and the South Asian Federation of Accountants (SAFA). He is also a Member of the Board of the Sri Lanka Accounting and Auditing Standards Monitoring Board (SLAASMB). With over 25 years of professional experience, Bandara currently heads Assurance at B. R. De Silva and Co., a member firm of Nexia International. In addition, he also serves as a Director of People’s Bank and several listed companies.

The 10th Dialog Club Vision Rotary Par 3 Classic golf will tee off today at the Royal Colombo Golf Club.

This is organised by the Rotary Club of Colombo Metropolitan (RCCM), the event continues to combine the competitive spirit of golf with a noble cause supporting children’s healthcare in Sri Lanka.

There will be two tee off at 7.30 a.m. and 12.30 p.m.

Proceeds from the event will support the ‘Rotary for Little Hearts’ initiative at Lady Ridgeway Hospital, which aims to expand paediatric cardiac care facilities. The project has already raised over $ 600,000, with a target of reaching $ 1 million to strengthen intensive care and surgical units for children with congenital heart.

In response to recent recall of BYD Tang vehicles and Yuan Pro, John Keells CG Auto Ltd., in a statement said yesterday that neither of the models have been sold in the Sri Lankan market.

Following is the full text of the statement.

BYD recently announced a recall involving approximately 115,000 BYD Tang vehicles and Yuan Pro as part of the company’s ongoing commitment to ensuring the highest standards of safety and product quality. As a responsible manufacturer, BYD proactively initiates recalls whenever necessary to protect customers and maintain the integrity of its vehicles.

We wish to clarify that this recall applies only to specific BYD Tang vehicles manufactured between 28 March 2015 and 28 July 2017, and some Yuan Pro pure electric vehicles produced between 6 February 2021 and 5 August 2022, and are not applicable to Sri Lanka. The BYD Tang model and Yuan Pro model has not been introduced or sold in the Sri Lankan market, and therefore, no BYD vehicles currently operating in Sri Lanka are affected by this recall.

All BYD vehicles in Sri Lanka which are imported, distributed and serviced exclusively through John Keells CG Auto Ltd., BYD’s authorised distributor, are covered by comprehensive manufacturer warranties and supported by dedicated after-sales facilities with NEV-trained technicians to ensure the highest standards of service and care.

BYD remains committed to transparent communication, responsible action, and the safety of all customers worldwide, as part of its mission to deliver advanced, reliable, and sustainable mobility solutions.

SJB MP Dr. Harsha de Silva yesterday told Parliament that Members of Parliament have received the special audit report on Sri Lanka’s controversial e-visa contract by the Department of Immigration and Emigration.

De Silva, who chairs the Committee on Public Finance, said the report contains nine key recommendations and urged that they be implemented without delay.

The report, prepared by Acting Auditor General G.H.D. Dharmapala, calls for several reforms to ensure legal and financial accountability in the visa issuance process.

It highlights the need for legal clarity under the Immigration and Emigration Act of 1948, continuous technological upgrades to improve service delivery, and adherence to proper tender procedures when outsourcing services.

The audit also emphasises the importance of cost-effectiveness studies and transparency in revenue collection when engaging with private service providers.

It recommends investigations into officials who approved the e-visa contract without financial oversight, and recovery of any losses sustained by the Government.

Among its key recommendations, the report calls for determining the legality of outsourcing arrangements and ensuring compliance with Sri Lankan tax and regulatory frameworks and reviewing the actions of officials involved in approving and implementing the project without the Finance Ministry’s input or proper permissions for collecting visa revenue in foreign accounts.

It also calls for calculating and recovering lost Government income linked to the contract and selecting a new e-visa service provider through a transparent, competitive process once pending court cases are resolved.

The Auditor General has noted that the review was conducted within the limits of available authority and information, and recommended that any further probe into potential illegal activity be referred to specialised investigative bodies.

The 10th edition of the ‘Trinco Dialogue Maritime Symposium 2025’drew to a successful conclusion on 22 October at the Admiral Wasantha Karannagoda Auditorium, Naval and Maritime Academy, Trincomalee. The event was graced by the Commander Eastern Naval Area, Rear Admiral Ravindra Tissera, as the Chief Guest, at the invitation of the Naval and Maritime Academy Commandant Commodore Dinesh Bandara.

The symposium, held under the theme ‘Maritime Security and Geopolitical Shifts in the Indian Ocean: Challenges and Solutions,’ featured a keynote address by the Deputy Area Commander Eastern Naval Area, Commodore Buddhika Jayaweera. The forum also included research presentations by officers, including student officers of the Junior Naval Staff Course (JNSC), focusing on emerging maritime challenges and prospective naval strategies.

A group of senior officers from the Navy Headquarters and Eastern Naval Command and officers from the Sri Lanka Army and Sri Lanka Air Force also attended this event.

The Colombo stock market gave in to profit-taking pressure yesterday to close the week in red, after holding its ground in the previous two sessions.

The ASPI closed 0.17% down, losing 38.43 points to 22,812.52 and the active S and P SL20 index closed down 0.04%, losing 2.56 points to 6,266.31.

Turnover was more than Rs. 6.2 billion with over 226.7 million shares traded in the day. Foreigners were net buyers yesterday with a net inflow of Rs. 25.8 million.

During the week, the ASPI had gained 178.72 points, up 0.79% and the S and P SL20 gained a marginal 3.28 points, up 0.05%. Foreigners were net sellers during the week with a net outflow of Rs. 281.8 million.

First Capital Research said the Colombo Bourse witnessed mixed sentiment throughout the session, ultimately closing in negative territory as the ASPI declined by 38 points to settle at 22,813 amid heightened profit-taking.

Retail participation remained strong, while notable HNW interest was observed in blue-chip counters.

Key negative contributors to the index included HARI, SAMP, MELS, SFCL, and CARG.

Market turnover amounted to Rs. 6.2 billion, approximately 18% below the monthly average of Rs 7.5 billion.

The Capital Goods sector dominated activity, accounting for 23% of total turnover, while the Diversified Financials and Banking sectors collectively contributed 31%.

Meanwhile, foreign investors remained net buyers for the day, recording a modest net inflow of Rs. 25.9 million.

NDB Securities said the ASPI closed in red as a result of price losses in counters such as Harischandra Mills, Sampath Bank and Melstacorp with the turnover crossing Rs. 6.2 billion. Meanwhile, the S and P SL20 edged down. High net worth and institutional investor participation was noted in Royal Ceramics, Laugfs Gas and

Colombo Dockyard.

Mixed interest was observed in LOLC Finance, Browns Investments and Sierra Cables whilst retail interest was noted in SMB Leasing, Hela Apparel Holdings and Co-Operative Insurance Company. Foreign participation in the market activity remained at subdued levels with foreigners closing as net buyers.

During the week, the ASPI and the S and P SL20 gained 0.8% and 0.1% respectively, whilst recording an average daily turnover of Rs. 7.37 billion.

The Capital Goods sector was the top contributor to the market turnover (due to Royal Ceramics, Colombo Dockyard and John Keells Holdings) whilst the sector index gained 0.94%.

The share price of Royal Ceramics moved down by Rs. 1 (2.12%) to close at Rs. 46.10. The share price of Colombo Dockyard recorded a gain of Rs. 35.50 (19.35%) to close at Rs. 219. The share price of John Keells Holdings appreciated by 10 Cents (0.47%) to close at. Rs 21.40.

The Diversified Financials sector was the second highest contributor to the market turnover (due to LOLC Finance) whilst the sector index decreased by 0.36%.

The share price of LOLC Finance increased by 30 Cents (4.69%) to close at Rs. 6.70.

Laugfs Gas was also included amongst the top turnover contributors. The share price of Laugfs Gas gained 40 Cents (0.66%) to close at Rs. 61.20.