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Minister K.D. Lalkantha yesterday said the Government will hold Provincial Council (PC) elections next year, either under the existing system or after introducing a new electoral framework.

He told reporters that the elections could proceed under the previous system by amending the Bill already passed in Parliament. ‘We have a two-thirds majority and can pass the necessary legislation to hold the PC elections under the old system,’ he said.

Responding to questions on whether the Opposition alliance would pose a challenge, the Minister dismissed the idea.

‘The Opposition will not be an issue. We have a functioning Executive Presidency and 159 MPs working effectively. A new political culture has been established, and the people have confidence in the National People’s Power (NPP) Government and the local bodies it administers,’ he said.

The Regional Development Bank (RDB), Sri Lanka’s premier state-owned development bank, third largest branch network with 272 branches, has announced the appointment of Dr. Asanga Tennakoon as its new General Manager/Chief Executive Officer, effective from 13 October 2025.

Dr. Tennakoon is a highly accomplished and versatile C-suite banking professional with over 25 years of progressive experience in wholesale banking, covering corporate and SME segments across Sri Lanka and the Middle East. He is a specialist in credit appraisal, risk management, project financing and asset management, with a consistent track record of delivering strategic business growth and operational excellence.

Prior to joining RDB he served as Vice President – Corporate Banking at Union Bank of Colombo PLC, and led a dynamic team in driving high-value client relationships and enhancing portfolio performance. Throughout his tenure at Union Bank, Dr. Tennakoon has held several senior leadership roles, including Assistant Vice President and Zonal Head, where he successfully managed large credit portfolios, and implemented central credit processing.

His international exposure includes a role at Doha Bank in Qatar and Dubai, where he managed corporate clients during the global financial crisis, effectively restructuring non-performing assets. At Sampath Bank PLC, he contributed to the bank’s success by managing corporate accounts and conducting credit mentoring and other training programs.

Dr. Tennakoon holds a Doctor of Business Administration (DBA) from Universidad Azteca, a Master’s in Financial Economics from University of Colombo and multiple professional qualifications in banking and finance. He is an Associate Member of the Institute of Bankers of Sri Lanka and a member of several other prestigious professional bodies.

With deep expertise in strategic planning, regulatory compliance, customer relationship management and team leadership, Dr. Tennakoon continues to make significant contributions to the banking sector, focused on value creation, sustainable growth, and innovation.

RDB Bank, with the objectives to facilitate the overall regional economic development of Sri Lanka, promotes the development activities of the country such as agriculture, livestock, trade and commerce, fisheries, tourism, and industry. Complemented by 272 branches along with a 6 million customer base island-wide, it empowers all Sri Lankans over the 40 years of the bank’s history.

LOLC Al-Falaah Takaful Life and LOLC Al-Falaah Takaful General have been honoured with four distinguished awards at the 10th Islamic Finance Forum of South Asia (IFFSA) Awards 2025, in recognition of their outstanding contributions to Shariah-compliant takaful solutions during 2024. This marks the first time both entities have been recognised simultaneously at this esteemed regional forum, representing a remarkable milestone in their journey.

The accolades include Silver and Bronze awards for Takaful Window/Unit of the Year 2024/25 for Life and General respectively, along with Bronze and Merit awards for Islamic NBFI Window/Unit of the Year 2024/25 for Life and General.

These recognitions highlight LOLC Al-Falaah Takaful’s commitment, as one of the fastest-growing Takaful entities in Sri Lanka, to delivering trusted, Shariah-compliant protection solutions across both Life and General segments, while continuously addressing the evolving needs of customers and communities.

LOLC Al-Falaah Takaful Head of Takaful Shathik Niyas stated, ‘We are truly honoured to receive this recognition for both our Life and General companies at IFFSA 2025. This milestone serves as a powerful encouragement for our ongoing efforts to deliver takaful solutions that are thoughtfully designed to meet the diverse needs of our communities, supported by service excellence and advanced digital capabilities. We extend our heartfelt gratitude to our valued customers for their continued trust and confidence. With our extensive branch network, dedicated takaful centres, experienced sales teams, and innovative digital platforms, we remain steadfast in empowering individuals, families, and businesses to build secure and resilient financial futures.’

Established under LOLC Insurance, LOLC Al-Falaah Takaful General commenced operations in 2014, followed by LOLC Al-Falaah Takaful Life in 2016. Today, the company offers a comprehensive portfolio of Shariah-compliant solutions, including Family Protection and Loan Protection Plans, Motor Takaful, Fire Takaful, Travel Takaful, Solar Takaful, Liability Takaful, and Engineering Takaful. Through these offerings, LOLC Al-Falaah Takaful continues to set new industry benchmarks and standards in Sri Lanka’s takaful sector by integrating innovation, customer-centricity, and digital transformation to deliver meaningful, Shariah-compliant financial protection that supports long-term resilience and prosperity.

Guru Kashi University and Oxford Chester Uni of Higher Education, Sri Lanka, have announced a strategic partnership that will revolutionise academic collaboration, research, and student exchange between India and Sri Lanka.

This affiliation will enable students and faculty from both universities to engage in collaborative research, academic exchange, and joint degree programs. The partnership aims to enhance academic excellence, promote cultural understanding, and foster global connections.

Guru Kashi University is a premier institution dedicated to academic excellence, research, and innovation. With a strong focus on student-centred learning, the university offers a wide range of programs in undergraduate, postgraduate, and research-based academics.

Oxford Chester Uni of Higher Education, Sri Lanka is a reputable institution committed to

providing quality education, promoting research, and nurturing talent. Founded by visionary leaders Co-Founder and CEO Dr. Dulan Hettiarachchi and Co-Founder Gayan Iddamalgoda, it has established itself as a hub for academic excellence in Sri Lanka.

Guru Kashi University Chairman Dr. Gurlabh Singh Sidhu said: ‘We are delighted to partner with Oxford Chester Uni of Higher Education, Sri Lanka, and explore new avenues for academic collaboration and innovation.’

Dr. Hettiarachchi said: ‘This affiliation is a testament to our commitment to providing world-class education and fostering global partnerships. We believe that this collaboration will open up new opportunities for our students and faculty, and we look forward to working closely with Guru Kashi University to achieve academic excellence.’

Iddamalgoda said: ‘This partnership is a significant milestone in our journey to provide quality education and promote academic excellence. We are excited to work with Guru Kashi University and take our collaboration to new heights.’

DFCC Bank has announced a strategic partnership with Prime EV Automobiles, a member of the SENOK Group, to make premium electric and hybrid vehicles more accessible to Sri Lankan customers through tailored financial solutions.

The collaboration is designed to meet the evolving aspirations of middle and upper-middle-income consumers who are increasingly seeking sustainable, technologically advanced mobility options. By combining Prime EV Automobiles’ globally recognised engineering – including models from the advanced DEEPAL range – with DFCC Bank’s customer-focused financial services, the partnership offers a seamless pathway to vehicle ownership.

As part of the initiative, customers will gain access to specially structured leasing packages from DFCC Bank, featuring reduced interest rates and flexible repayment options tailored to their lifestyle and income patterns. The offer is further enhanced with exclusive benefits, including free vehicle registration, complimentary servicing, and 0% interest instalment plans on motor insurance. Customers will also receive DFCC Credit Cards with waived joining and first-year annual fees, extending lifestyle and financial advantages beyond the purchase.

DFCC Bank Senior Vice President and Head of Retail and Business Banking Aasiri Iddamalgoda said, ‘This partnership reflects our focus on enabling lifestyles, not just offering credit. By making high-quality electric and hybrid vehicles more accessible, we are helping our customers embrace mobility that is sustainable, future-ready, and aligned with their aspirations. It is about offering confidence, convenience, and value in one complete package.’

Senok Group General Manager – Sales and Marketing Thamali Samarathunga added, ‘Through this partnership, we aim to make high-quality, technologically advanced vehicles more accessible to aspirational Sri Lankans, while ensuring a smooth and rewarding experience from purchase to ownership.’

By addressing common barriers such as upfront cost, access to competitive financing, and after-sales support, this partnership brings the next generation of mobility within reach for more Sri Lankans. For DFCC Bank, it represents a growing emphasis on lifestyle-enabling financial solutions, while for Prime EV Automobiles, it strengthens its role in introducing cutting-edge mobility technology to the country.

Visa Sri Lanka Country Manager Avanthi Colombage yesterday said the company is deepening its role in supporting Sri Lanka’s digital transformation through major global investments in cybersecurity, enforcement of data standards, and inclusion programs aimed at building trust in digital payments.

She was speaking at the Asian Development Bank’s Serendipity Knowledge Program on Digital Transformation: Cybersecurity and Data Protection for Digital Economy Development held in Colombo in partnership with the Department of National Planning of the Ministry of Finance.

Colombage said Sri Lanka’s digital progress depends on both technological infrastructure and a shift in public trust toward online services.

‘There is a need for the culture to change, for culture to adapt a sentiment towards protecting data,’ she said.

‘But to build that trust and to build that culture, you need to have the infrastructure in place. Sri Lankans tend to trust the banking sector and the payment platforms available to them. But when it comes to government services, getting your ID or doing transactions with local authorities, people still prefer to go in person. They don’t trust the online systems.’

She said the lack of consistency across digital platforms in the public sector has contributed to this hesitation.

‘If you look at the platforms that citizens interact with, each one is different from another. There is no consistency, and that creates a trust barrier,’ she said.

‘The private sector has managed to fix this to a certain extent, and it should in turn support government institutions to develop and be up to standard so that citizens have a safe and convenient way of transacting.’

Outlining Visa’s three key pillars for strengthening cybersecurity and data protection, Colombage said investment, adherence to standards, and advisory support are central to the company’s work in Sri Lanka.

‘Visa, in the last couple of years, has spent over $ 12 billion in investment towards cybersecurity and securing data. We have four 24-7 centres that are focused on security, monitoring and alerting any threats,’ she said.

She added that Visa ensures its partners, including banks and fintechs, comply with global and local standards such as PCI DSS and ISO to safeguard data.

‘We have mastered the art of securing data and are now using that knowledge to support banking partners, governments, and other entities to look at security in a different way,’ she said.

Colombage said Visa is also focusing on expanding financial inclusion through education and capacity-building initiatives.

‘Our mission is to uplift everyone, everywhere,’ she said. ‘We focus on supporting underserved communities through business skill development, helping women home entrepreneurs run secure and profitable businesses.’

She said Visa recently launched a financial education program in Sri Lanka with SOS Children’s Village to promote safe money management, and is working with the Sri Lanka Tourism Promotion Bureau on SME-focused initiatives.

‘There is a very strong role for the private sector to play in ensuring underserved communities are uplifted,’ she said.

‘Our business is in payments, and we have the experience to help these communities strengthen their financial foundations. That’s something we are committed to continuing.’

Salesforce and OpenAI yesterday announced an expanded strategic partnership, establishing a new generation of employee and consumer experiences powered by Salesforce’s Agentforce 360 and OpenAI frontier models.

This first of its kind partnership, announced during the ongoing Dreamforce 2025 in San Francisco, will let companies access Salesforce’s Agentforce 360 platform in ChatGPT – querying sales records, reviewing customer conversations, or building Tableau visualisations, simply by typing a query into ChatGPT. They can also use OpenAI’s latest frontier models, including GPT-5, to build AI agents and prompts within the Salesforce Platform. And a new commerce experience will give shared customers the ability to sell to hundreds of millions of potential US users in ChatGPT while keeping full control of their processes, data, and customer relationships.

The SaaS landscape is changing – with dedicated point-and-click applications evolving to include multi-surface, agent-driven conversations. This partnership advances that shift by combining OpenAI’s frontier models and capabilities and Salesforce’s data-grounded enterprise workflows across ChatGPT and Slack, which together support over 800 million weekly users and 5.2 billion weekly messages, respectively. As a result, this makes it easy for Salesforce and OpenAI customers to tap into powerful, enterprise-grade AI, right in their preferred surface environment.

OpenAI co-founder and CEO Sam Altman said: ‘Our partnership with Salesforce is about making the tools people use every day work better together, so work feels more natural and connected. It’s an important step in how AI can improve daily workflows under our efforts together.’

Salesforce Chair and CEO Marc Benioff said: ‘As consumers, we already get instant recommendations or insights from ChatGPT. Now enterprises can deliver that same intelligence and immediacy. By uniting the world’s leading frontier AI with the world’s No. 1 AI CRM, we’re creating the trusted foundation for companies to become Agentic Enterprises.’

The announcement includes the following integrations:

Agentforce 360 apps in ChatGPT: Salesforce’s apps will be accessible through the Apps in ChatGPT program, bringing enterprise intelligence, CRM data, and Tableau visualisations right into ChatGPT conversations.

Instant Checkout and Agentforce Commerce: Agentforce Commerce will integrate with the Agentic Commerce Protocol, the standard that powers Instant Checkout in ChatGPT, designed to give merchants a new way to reach hundreds of millions of potential customers while keeping full control of their orders, payments, fulfilment, and customer relationships.

ChatGPT in Slack: The ChatGPT app for Slack now brings ChatGPT directly into Slack, enabling teams to quickly and seamlessly surface insights, draft content, and summarise complex conversations in the flow of work. The integration also improves Slack search results by incorporating internal knowledge from ChatGPT-connected tools.

Codex in Slack: Codex, an OpenAI agent that writes and edits code based on natural language instructions, can now be tagged inside a Slack channel or thread – letting it grab relevant context, pick the right environment, and respond with a link to the completed task in Codex Cloud.

OpenAI in Agentforce 360 Platform: Salesforce will bring OpenAI’s reasoning, voice, and multimodal capabilities into Agentforce 360 Platform, making agentic enterprise experiences more intelligent and powerful. OpenAI will also be featured as a preferred model, giving Agentforce 360 customers the option to select it as their default LLM for the Atlas Reasoning Engine and Prompt Builder. Apps like Agentforce Sales can also incorporate OpenAI frontier models for richer context and faster analysis.

This partnership fundamentally changes the employee experience, ensuring intelligent, data-driven work happens in the flow of conversation by granting secure, seamless access to the full enterprise stack right where teams already collaborate. It also builds on an existing partner foundation: OpenAI chose Slack as the first enterprise platform to deploy a third-party ChatGPT app.

Starting with Agentforce Sales, Salesforce’s apps will give authorised employees instant, natural-language access to their Salesforce CRM data and Tableau visualisations, while tapping into the vast, generative intelligence of OpenAI models for richer context and rapid analysis.

Bringing ChatGPT into Slack gives teams the power to summarise complex conversations, or quickly draft posts and replies, right in the flow of work. Slack is where developers discuss ideas, make decisions, and manage key workflows. With Codex in Slack, teams can just tag @Codex in a channel or thread to delegate programming tasks, like they would with a co-worker.

This partnership also helps businesses meet customers where they spend time, with commerce seamlessly integrated into the conversational channels and AI-powered experiences they use with intent every day.

End-to-end commerce experiences, powered by Instant Checkout in ChatGPT and the Agentic Commerce Protocol, lets Agentforce Commerce merchants capture demand quickly and facilitate purchases when shoppers search for products in ChatGPT.

By integrating Agentforce Commerce with Instant Checkout in ChatGPT, merchants can offer seamless, secure transactions at the moment of purchase intent while reducing integration costs and time to market. Product catalogs from Agentforce Commerce will appear in ChatGPT, while embedded checkout with Agentic Commerce Protocol (ACP) and Stripe enable tokenised, privacy-compliant transactions. Together, these capabilities deliver the end-to-end architecture for agentic commerce, turning intent into conversion in a single, trusted interaction.

Home Lands Group successfully concluded the Home Lands EXPO 2025 – Property Investment Forum and Exhibition, the first-ever property investment expo organised by a single developer in Sri Lanka, held on Saturday, 11 October, at the Grand Ballroom, Hilton Colombo.

The one-day event drew over 1,500 attendees, including aspiring homeowners and investors seeking high-return property opportunities. The expo showcased Home Lands’ exclusive portfolio of properties from city apartments to beach resort apartments, golf resort apartments, and retirement leisure villages, all under one roof.

A key highlight was the Home Lands Wealth Builder payment plan, which offers up to 100% funding with no down payment and no hidden charges. Customers simply pay monthly, making property ownership affordable, easy, and convenient.

The program generated significant interest and provided attendees with the opportunity to explore flexible financing options tailored to their needs.

The event also saw Sri Lanka’s six leading private banks, Commercial Bank, DFCC Bank, HNB, NDB, Sampath Bank, and Seylan Bank, partner with Home Lands to offer up to 100% financing solutions for the purchase of Home Lands projects, providing aspiring homeowners and investors with the financial support and confidence needed to secure their ideal properties and make sound investment decisions.

Home Lands Group Chairman Nalin Herath said: ‘The success of Home Lands EXPO 2025 reflects the growing confidence of Sri Lankans in property investment. With our Wealth Builder program and the support of the top six private banks, we are making it easier for aspiring homeowners and investors to achieve their dreams while creating lasting value in Sri Lanka’s real estate market.’

With over 3,200 residential units delivered and with over 2,300 units currently under construction, Home Lands continues to redefine modern living and investment value in Sri Lanka, reinforcing its position as the market leader in real estate.

Virtusa Corporation has announced the expansion of its Sri Lanka Delivery Centre with over 200 new career opportunities across high-growth technology domains. The initiative marks a renewed phase of investment in the country as Virtusa accelerates its journey toward becoming a $ 5 billion enterprise by 2030.

The expansion follows the strategic vision outlined by Virtusa CEO Nitesh Banga, who has committed to positioning the company as the world’s leading domain-driven engineering partner for the AI-enterprise. During his recent official visit to Sri Lanka as CEO, Banga emphasised the country’s integral role in Virtusa’s global delivery network and its heritage as the firm’s founding centre of excellence.

The 200-plus open positions announced by Virtusa span Artificial Intelligence (AI), Data Science, Full Stack Development, BPO/KPO services and DevOps roles, reflecting Virtusa’s focus on scaling its engineering and AI capabilities to support clients across banking, financial services, healthcare, insurance, telecom, and technology industries. These roles include both entry-level and experienced positions and offer Sri Lankan professionals the opportunity to contribute to cutting-edge AI and digital transformation projects for Fortune 500 clients worldwide.

Virtusa’s Sri Lanka operations have long been a core component of the company’s global delivery model, combining deep domain fluency with agile engineering and a culture of continuous innovation. The Colombo centre plays a key role in advancing Virtusa Helio, the company’s suite of AI-powered accelerators that help enterprises drive measurable business outcomes and faster time-to-value from their AI investments.

‘Sri Lanka continues to be a strategic centre of excellence for Virtusa. Our current recruitment drive reflects our confidence in the country’s high-quality talent and the potential of this market to deliver world-class engineering and AI solutions to global clients,’ said Virtusa Corporation Chief Operating Officer Venkatesan Vijayaraghavan.

In line with Virtusa’s focus on AI and GenAI-led innovation, the company continues to invest in upskilling its employees through its Virtusa Thrive Academy, with programs in AI orchestration, prompt engineering, and domain-specific applications. These initiatives strengthen Virtusa’s position as a future-ready employer and a catalyst for the growth of Sri Lanka’s digital economy.

Candidates interested in joining Virtusa can visit the company’s careers portal to discover open roles and apply. The ongoing recruitment effort underscores Virtusa’s long-term commitment to building global careers for Sri Lankan professionals while fuelling the next chapter of its growth story from Colombo.

‘We are proud to be expanding our operations with new roles across AI, data, cloud, and engineering, reaffirming Sri Lanka’s position as a strategic hub in Virtusa’s global delivery network. Sri Lanka has always been central to Virtusa’s success story. As we advance toward our vision of becoming a $ 5 billion enterprise by 2030, our focus remains on nurturing world-class Sri Lankan talent capable of leading in an AI-first world,’ commented Virtusa Corporation Joint Country Head (Sri Lanka) Denver De Zylva.

LAUGFS Lubricants has announced its partnership with the Colombo Motor Show 2025 as the Official Lubricant Partner for the second consecutive year, following the resounding success of last year’s collaboration.

The Colombo Motor Show 2025, organised by Asia Exhibition and Conventions Ltd., will be held from 21 to 23 November and is set to be the largest international automotive event in Sri Lanka. Renowned as the premier platform for automotive enthusiasts, industry suppliers, and the general public, the event continues to showcase innovation and excellence across the automotive industry.

As the Official Lubricant Partner, LAUGFS Lubricants will host an engaging and interactive stall, offering visitors a unique opportunity to explore exclusive offers on its premium range of lubricants. Attendees will also be able to connect with industry experts, gain insights into advanced lubrication technologies, and participate in exciting activities designed to create a memorable experience.

LAUGFS Lubricants Director/Chief Executive Officer Kumar Rodrigo said: ‘We are delighted to continue our partnership with the Colombo Motor Show for the second consecutive year as the Official Lubricant Partner. This collaboration reflects our commitment to supporting Sri Lanka’s premier automotive event while showcasing the innovation, performance, and reliability that define LAUGFS Lubricants. We look forward to engaging with automotive enthusiasts, industry partners, and customers at this year’s event, while further strengthening our presence in the local and regional lubricant markets.’

Founded in 2008, LAUGFS Lubricants stands as the only Sri Lankan engine oil brand with internationally certified standards and its own state-of-the-art Tribology Park and Research Facility, the only one of its kind in the country. This advanced facility enables the development of high-performance lubricants that meet global standards while being specifically engineered for Sri Lanka’s tropical climate, heavy traffic, dusty environments, and challenging road conditions.

Whether for European, Japanese, Indian, or American engines, LAUGFS Lubricants delivers unmatched protection and performance, blending world-class innovation with local expertise as a truly Sri Lankan brand that understands our roads best.