Govt. to cut detention period to 48 hours, withdraw key clauses in Organised Crimes Bill

The Government has agreed to reduce the maximum detention period under the proposed Prevention of Organised Crimes Bill from 72 to 48 hours and withdraw several contentious provisions, following constitutional challenges before the Supreme Court.

The Attorney General’s office informed the Court yesterday (9) that the proposed amendments would also remove provisions relating to tattoos and body marks, offences under the Excise Ordinance and prior court approval for publishing information on cases involving serious crimes.

The Government also intends to amend copyright-related provisions under the Intellectual Property Act and is considering further changes to clauses governing detention orders and the Bail Act following discussions with policymakers.

The amendments are expected to be presented during the Committee Stage of the Bill in Parliament. A document outlining the proposed changes was submitted to the Supreme Court and lawyers representing the petitioners.

The submissions were made as a three-member Supreme Court bench comprising Chief Justice Preethi Padman Surasena and Justices Achala Wengappuli and Sampath Abeykoon resumed hearing 26 petitions challenging the constitutionality of the proposed legislation.

The petitions, filed by several parties, including the Bar Association of Sri Lanka, contend that certain provisions of the Bill, published in the Gazette on 6 October, are inconsistent with the Constitution.

The latest amendments follow President Anura Kumara Dissanayake’s announcement that the Government would not proceed with the Prevention of Organised Crimes Bill or the proposed Protection of the State from Terrorism Bill without broader consultations with the public and relevant stakeholders.

Addressing the National Trade Union Conference on Saturday (7), the President said the Government would engage civil society organisations and other concerned parties to build consensus before proceeding with the legislation.

Budget 2027: Beyond promises to real progress

Why better incomes, productive investment, effective public administration and responsible spending must become the measures of economic progress

Sri Lanka’s 2027 Budget Speech is scheduled for 12 November 2026. After years of economic hardship, public expectations are understandably high. Families want relief from living costs, better employment, reliable public services and greater confidence in the future.

Discussion has focused particularly on public sector salary increases. Fair remuneration matters, but a more fundamental question must guide the Budget debate: Will the government’s decisions produce lasting improvements in people’s lives?

Since the 2022 crisis, Sri Lanka has restored a measure of stability. Growth has resumed, foreign exchange reserves have improved and public financial management has strengthened. According to the World Bank, the economy grew by 4.7% during the first half of 2026. Yet recovery in national statistics does not automatically translate into recovery for households.

The 2027 Budget should therefore be judged less by the size of its promises than by its capacity to increase real incomes, expand productive employment, attract investment and turn public resources into measurable results.

Salary increases must improve real incomes

Public servants have faced considerable financial pressure, and higher salaries can provide welcome relief. But the increase expected in 2027 largely completes the three-stage salary revision announced in the 2025 Budget, rather than constituting an entirely new initiative.

It is also important to distinguish between nominal wages-the money an employee receives-and real wages-what that money can purchase. If a worker earning Rs. 60,000 receives an additional Rs. 5,000, the nominal increase is about 8.3%. But if prices have risen by roughly 8% over the same period, the gain in purchasing power is small.

Households do not evaluate prosperity from salary slips alone. They assess whether earnings can meet the costs of food, transport, electricity, housing, education and healthcare.

Regular salary reviews are justified, but they must be financially sustainable and accompanied by efforts to improve productivity, contain living costs and raise earnings across the economy. The objective should be better living standards, not merely higher figures on payrolls.

Recovery has not reached every household

Despite the improvement in headline indicators, many Sri Lankans remain under financial strain. The Colombo Consumer Price Index recorded annual inflation of 8.3% in October 2026. The World Bank estimated poverty at 16.9% in 2025. Although overall unemployment stood at 4% in the second quarter of 2026, unemployment among people aged 15-24 was 17.8%, while labour force participation was only 50%.

The Health Ministry’s 2025 Nutrition Month data also reported that 16.1% of children under five were underweight. These indicators remind us that economic hardship cannot be measured by GDP growth alone. Poverty, weak labour market participation and poor nutrition are not isolated social concerns: they reduce human potential and ultimately weaken the economy’s productive capacity. Policies should therefore be evaluated for their effects on employment, opportunity and the distribution of gains, not growth alone.

Another distinction is often overlooked: lower inflation does not necessarily mean lower prices. If a food item rises from Rs. 100 to Rs. 200, a subsequent slowdown in inflation may simply mean that it becomes more expensive at a slower rate. Families still have to pay the higher price.

For pensioners, low-income households, informal workers and unemployed young people, recovery will feel incomplete until purchasing power and economic security improve. Budget policy must therefore combine stability with targeted support and opportunities to earn sustainable incomes.

Build an economy that produces, exports and employs

Sri Lanka cannot sustainably improve living standards through salary increases, subsidies and tax concessions alone. Those measures depend ultimately on the country’s capacity to produce more goods and services, generate income and collect revenue without creating renewed fiscal instability.

Agriculture, manufacturing, tourism, technology and export-oriented services all offer potential. Small and medium-sized enterprises are especially important because they create jobs and economic activity throughout the country. Yet, many struggle with expensive finance, outdated equipment, limited market access and cumbersome administrative procedures.

Farmers need reliable irrigation, storage, transport and opportunities to add value to what they grow. Entrepreneurs need accessible finance, skilled workers and predictable rules. Exporters need productive infrastructure and efficient trade procedures.

A stronger productive economy also depends on improving the quality of employment. Young Sri Lankans need pathways from education and training into rewarding work. This requires practical cooperation among universities, technical institutes, employers and regional businesses. Supporting enterprise outside Colombo would help distribute opportunities more fairly and reduce the pressure on young people to seek their future abroad.

Foreign exchange earnings deserve particular emphasis. Borrowing dollars is not the same as earning dollars. Loans can temporarily meet financing needs, but they bring repayment obligations. Sustainable foreign exchange comes from competitive exports, tourism, services and other productive activities, supported by formal workers’ remittances.

A credible national strategy should connect investment in skills and infrastructure with measurable targets for production, exports and employment. Announcements without sustained implementation will not build a competitive economy.

Restore confidence for domestic and foreign investors

Investment brings employment, technology, tax revenue and opportunities for growth. But investors commit capital when they believe policies will remain reasonably predictable and institutions will treat them fairly.

Sri Lanka must address delays in approvals, uncertainty over contracts, abrupt policy changes and inconsistent application of regulations. Existing investors also require timely, transparent remedies when legitimate concerns arise. Their experiences influence the decisions of potential new investors.

Investment promotion should consequently be judged by projects that actually begin operations, jobs created and exports generated-not only by investment pledges or memoranda of understanding. A transparent, time-bound approval system, with clear channels for resolving disputes, could make a substantial difference. Equally important is consistent treatment of domestic enterprises, which are often the starting point for sustainable expansion.

The Government must, of course, investigate corruption and hold wrongdoers accountable. Strong institutions and the rule of law are essential to confidence. Yet public communication should also convey a positive economic direction: where investment opportunities lie, how obstacles will be removed and what policies businesses can reasonably expect.

Accountability and investment promotion should reinforce rather than undermine one another. A credible government can investigate past misconduct while providing lawful, consistent and efficient conditions for future investment.

Make public administration accountable and capable of acting

Even well-designed policies will fail if public institutions cannot implement them. Salary improvements alone cannot create an effective civil service. Officials also need professional training, modern systems, clear responsibilities and the authority to make timely decisions.

There is concern that some officials hesitate to approve contracts, procurement decisions or projects because they fear later investigations. Such caution can delay development and discourage investors. But weakening anti-corruption institutions is not the answer.

The proper response is to establish clear procedures, transparent procurement standards, reliable documentation and fair review mechanisms. Deliberate misconduct must be investigated and punished. Officials acting honestly, reasonably and within the law should receive appropriate procedural protections.

Political leaders and administrators must share responsibility for removing unnecessary complexity and improving coordination across agencies. Good governance means decisions that are both accountable and timely-not the absence of decisions.

The public should not have to navigate overlapping offices to obtain routine approvals. Simplified procedures, better digital services and clearly assigned responsibilities would improve the experience of citizens as well as businesses. Administrative reform is therefore not a separate concern from economic policy. It is one of the conditions for translating policy into results.

Balance development, inflation

and taxation

Public investment in transport, energy, irrigation, education and healthcare can reduce business costs and expand opportunity. However, every major project should be assessed for economic benefits, financial affordability, environmental effects and long-term maintenance needs. Large expenditure is not, by itself, evidence of development.

Price stability also requires sound monetary and fiscal policies, dependable supplies and competitive markets. A reasonably stable exchange rate helps households and firms plan, but an artificially strong rupee could damage export competitiveness. Durable currency stability depends on productivity, foreign exchange earnings, adequate reserves and confidence.

Tax relief is understandably popular after years of hardship. Nevertheless, broad reductions without alternative revenue could weaken public finances and threaten recovery. A better approach is to widen compliance, reduce evasion, improve administration, limit waste and offer carefully targeted relief when affordable.

The Budget must confront these trade-offs directly. Social protection and economic development are both necessary, but they must be financed within a credible fiscal framework.

This means choosing among competing priorities rather than pretending all demands can be met immediately. Protecting essential healthcare and education, maintaining productive infrastructure and providing well-targeted assistance may yield greater benefits than highly visible but poorly prepared projects. Responsible budgeting is ultimately a question of priorities as much as accounting.

Close the gap between Budget allocations and delivery

Perhaps the clearest test of the 2027 Budget is whether allocated development funds become completed projects.

During the first half of 2026, approximately Rs. 1,719 billion was allocated for capital expenditure and net lending for the full year, but only about Rs. 280 billion had been spent by the end of June-just 16.3%. By comparison, total government expenditure had reached 39.2% of annual allocations and recurrent expenditure 45.9%. The comparable first-half capital expenditure and net lending rate in 2025 was 17.5%.

These numbers do not establish that the whole year will end poorly. Construction and procurement payments are often concentrated later in the year. Nor is every unspent rupee evidence of failure. Still, such low first-half implementation rates deserve careful investigation.

Delayed expenditure has consequences beyond financial statements. If a hospital project stalls, patients wait for services. If a school building remains incomplete, students lose learning opportunities. Delayed irrigation systems affect farm output, while unfinished roads prolong transport costs.

Postponed projects also reduce demand for construction workers, materials, machinery, transport and local suppliers. Thus, implementation failures can weaken both immediate economic activity and long-term productivity.

The causes are varied: inadequate preparation, land acquisition problems, procurement delays, environmental approvals, weak interagency coordination, shortages of technical expertise and difficulties releasing funds. Uncertainty among decision-makers may also contribute. No single official or institution can reasonably bear all the blame.

A serious response must examine the complete project cycle-from selection and preparation to procurement, funding, execution and evaluation-rather than merely calling for faster spending.

Projects should enter the Budget only when their feasibility, land requirements, approvals and implementation responsibilities are sufficiently clear. Otherwise, the government creates unrealistic expectations and later confronts predictable delays. Treasury funding plans and implementing agencies’ work schedules also need to be aligned from the outset. More disciplined preparation could prevent many delays before they arise.

Measure results, not just money spent

Spending an allocation before year-end is not necessarily good management. Rushed purchases, weak construction and unnecessary projects can waste public money. Equally, lower spending may sometimes reflect cost savings or sensible cancellation of unnecessary activities.

The central question is not how much the government spends, but what that spending achieves.

This is the value of performance-based budgeting. A road project should be assessed not only by its construction cost but by whether it reduces travel time, improves access to markets and benefits nearby communities. A hospital investment should be evaluated through service quality and patient access. Irrigation spending should be linked to agricultural productivity and farmers’ incomes.

Every major publicly funded project should have a realistic timetable, a responsible institution, published financial and physical milestones, and measurable intended benefits. Quarterly progress reports should show what has been completed as well as what has been paid.

Projects falling behind schedule need early diagnosis and corrective action. Officials should be held accountable for performance while receiving the resources, training and lawful protections needed to do their jobs. Government should also prioritise completing worthwhile existing projects before multiplying new announcements.

Independent evaluation has a role here. Citizens deserve to know not only whether a project was completed, but whether its promised benefits materialised. Publishing straightforward evaluations would help policymakers learn from mistakes, improve future project selection and strengthen public trust. The aim should be improvement, not simply assigning blame when targets are missed.

At year-end, citizens should be able to ask a simple question: What tangible improvements resulted from the funds Parliament approved? If there is no convincing answer, impressive Budget figures offer little comfort.

What the 2027 Budget should deliver

The Budget should combine immediate relief with a credible plan for future prosperity. Public sector salary commitments and targeted assistance matter, but they should not overshadow private sector workers, self-employed people, farmers, pensioners, small businesses and unemployed youth.

The Government should explain how it will strengthen production, create productive jobs, expand exports, encourage domestic and foreign investment and improve essential services. Each priority needs a realistic target, adequate financing, a responsible agency and a public timetable.

This also requires an honest account of fiscal limits. Sri Lanka remains constrained by debt obligations and available revenue. Ambitious promises that cannot be funded or implemented may endanger hard-won stability.

Above all, ministries should be judged by outcomes, not the number of projects they announce. Parliament and the public need accessible information on costs, progress, delays and results. Transparency should support practical problem-solving rather than become another reporting exercise.

A useful Budget should also distinguish clearly between measures that provide immediate relief and reforms whose benefits will emerge over several years. People can accept difficult choices more readily when the government explains the purpose, likely timing and costs of its decisions. This requires honest communication and consistent follow-through, not merely ambitious language on Budget day.

Conclusion: Turn recovery into real improvement

Sri Lanka has made important progress since the 2022 economic crisis. But stability and growth are only the foundation. The deeper test is whether families can afford essential needs, young people can find meaningful work, businesses can invest confidently and public services deliver reliably.

These goals demand a more productive and export-oriented economy, responsible fiscal management, investor confidence and public administration that combines integrity with the ability to act.

The 2027 Budget should mark a shift from promises to implementation, from allocations to outcomes, and from short-term relief to lasting prosperity.

This is not simply a matter of political criticism. It is a constructive test of economic leadership. Ultimately, the success of a national Budget should be measured not by the promises made in Parliament, but by the improvements people experience in their everyday lives.

SLID and Life Insurance Corporation to host CEO and Chairpersons Forum

The Sri Lanka Institute of Directors (SLID), in collaboration with Life Insurance Corporation (Lanka) Ltd., will host its upcoming CEO and Chairpersons Forum on ‘Emerging Trends and Challenges in Financial Services’ tomorrow (11) at the Atrium, Cinnamon Grand Colombo, from 6 p.m. to 7 p.m., followed by cocktails and networking.

The forum is an exclusive event for SLID members, providing a platform for senior business leaders to exchange perspectives on developments shaping the financial services industry and explore the opportunities arising from India’s economic momentum and the evolving regional financial landscape.

The keynote address will be delivered by Life Insurance Corporation of India (LIC) Chief Executive Officer and Managing Director R. Doraiswamy. His address will explore India’s financial services landscape and the potential implications of its economic development for Sri Lanka and the wider region. The forum will also feature Janashakthi Life and Janashakthi General Founder/Director Chandra Schaffter, as a panelist, bringing his industry experience and insights into the development of Sri Lanka’s insurance sector.

The fireside chat will be moderated by Platinum Realty Investments Managing Director and Indian CEO Forum President Kishore Reddy. The discussion will focus on emerging trends, evolving business opportunities, and the strategic considerations facing financial services leaders in an increasingly interconnected regional economy. Through this exclusive engagement, SLID continues to strengthen its role as a platform for boardroom leaders to exchange knowledge, engage with industry experts, and gain insights relevant to strategic decision-making and sustainable business growth. The forum is intended for SLID members serving as Chairpersons/Chairmen, CEOs/Managing Directors, C-suite Executives or Board Directors.

The CEO and Chairpersons Forum reflects SLID’s commitment to promoting excellence in corporate governance and leadership by facilitating meaningful dialogue among senior business leaders on issues shaping the future of business and the economy.

Bond market yields edge up

The secondary Bond market commenced the week with yields edging higher across the yield curve. Activity and transaction volumes were seen at moderate levels.

The 15.09.29 maturity traded at 10.90%. On the 2030 segment, the 01.03.30, 15.05.30, 01.08.30 and 15.10.30 maturities traded up the ranges of 11.05%-11.10%, 11.05% and 11.10%-11.15% each respectively. The 01.12.31 maturity traded at the rate of 11.30%-11.32% and the 15.12.32 at the rates of 11.65%-11.68%. The 01.06.33 and 01.11.33 maturities traded at the rates of 11.89%-11.90% and 11.95% respectively. The 15.10.34 maturity traded up the range of 12.08%-12.10%. The 15.08.36 maturity traded at the rate of 12.40%.

In the money market, the net liquidity surplus stood at Rs. 178.11 billion yesterday. Of this, Rs. 112.60 billion was deposited with the Central Bank through its Standing Deposit Facility (SDF) at 8.25%, while Rs. 0.50 billion was withdrawn through the Standing Lending Facility (SLF) at 9.25%.

The Domestic Operations Department (DOD) of the Central Bank absorbed further liquidity through an overnight repo auction, mopping up Rs. 46 billion at weighted average rate of 8.73% and a term repo auction for 07 days amounting to Rs. 20 billion at the rate of 8.74%.

The weighted average rates on overnight call money and repos were 9.03% and 9.13% respectively.

Forex market

The USD/LKR rate on spot contracts was seen closing the day steady at Rs. 332.53/332.59 broadly steady as against its previous day’s closing of Rs. 332.50/332.60. The total USD/LKR traded volume on 6 November was $ 79.75 million.

Fitch upgrades ComBank to ‘AA(lka),’ reaffirming position as Sri Lanka’s highest-rated private bank

Fitch Ratings has upgraded Commercial Bank of Ceylon PLC’s National Long-Term Rating to ‘AA(lka)’ from ‘AA-(lka),’ effective 30th October 2026, reinforcing the bank’s position as Sri Lanka’s benchmark private-sector lender and highlighting its enduring financial strength.

The upgrade follows Fitch’s recalibration of Sri Lanka’s national rating low credit scale after the sovereign rating upgrade in September 2026, while also reflecting the scope for greater positive differentiation of Commercial Bank’s credit profile relative to large private-sector banking peers.

The ‘AA(lka)’ rating signifies very high credit quality and very low default risk relative to other issuers in the country, providing an important signal of the bank’s strong capital adequacy, liquidity, and asset quality to investors, depositors, corporate customers and international banking partners.

Fitch’s assessment recognises Commercial Bank’s longstanding position as Sri Lanka’s largest private-sector bank, its sustained advantages in business generation and funding, and its optimised cost of funds relative to other large private-sector banks. The bank’s asset quality, profitability and capital coverage of net impaired loans have also generally remained among the stronger levels within the range of rated local banks, the rating agency noted.

‘Any rating upgrade of this nature is significant for stakeholders,’ Chairman Sharhan Muhseen noted. ‘For our customers, the upgraded rating provides an additional indicator of the bank’s stability and financial strength in safeguarding their investments and assets. For businesses and individuals seeking financing, the bank’s strong institutional creditworthiness and funding advantages underpin its capacity to offer competitive financing solutions and support their diverse growth ambitions.’

Managing Director/CEO Sanath Manatunge said: ‘This rating upgrade is a powerful affirmation of the financial resilience, disciplined risk management and enduring strength of Commercial Bank. It validates the deep confidence our customers, investors and international partners place in us, and strengthens our capacity to support Sri Lanka’s businesses, households and economic progress.’

The stronger credit profile also reinforces Commercial Bank’s international correspondent banking relationships, supporting the continuity and efficiency of cross-border banking, trade finance and capital repatriation services for customers engaged in international trade, the bank said.

While the rating action was directly prompted by the recalibration of Sri Lanka’s national rating scale following the sovereign upgrade, it also positions Commercial Bank as a key beneficiary of the country’s macroeconomic recovery, reflecting a balance sheet and risk management framework that remained exceptionally resilient through earlier economic volatility. This underscores the bank’s ability to sustain strong financial fundamentals through challenging periods and its favourable position within the domestic banking sector, the bank added. Commercial Bank was the first Sri Lankan bank to achieve a market capitalisation exceeding $ 1 billion.

HNB Life delivers highest industry performance with 41% GWP growth

HNB Life PLC yesterday said it continued its strong growth trajectory during the nine months ended 30 September 2026, while maintaining a disciplined approach to profitability, investment management and long-term value creation.

The company recorded Gross Written Premium (GWP) of Rs. 19.4 billion, representing a strong 41% year-on-year growth compared with Rs. 13.8 billion during the corresponding period of 2025. Net Written Premium increased by 42% to Rs. 18.5 billion, reflecting the continued strong momentum of the Life Insurance business.

Reflecting this strong premium growth, HNB Life’s Net Income increased by 31% to Rs. 24.9 billion, compared with Rs. 19 billion in the corresponding period of 2025. Interest and dividend income also increased by approximately 14% to Rs. 6.2 billion, contributing positively to the company’s overall financial performance.

HNB Life recorded Profit Before Tax of Rs. 862.6 million for the nine months ended 30 September 2026, while Profit After Tax stood at Rs. 602.3 million, without any surplus transfer from the Life Insurance Fund; which usually happens after the actuarial valuation at the end of the year.

HNB Life continued to strengthen its investment base during the period, with financial investments increasing to Rs. 70.2 billion as of 30 September 2026, representing growth of approximately 12% from Rs. 62.5 billion at the end of 2025. The company’s overall financial position continued to expand alongside business growth, with total assets reaching Rs. 77.1 billion as of 30 September 2026, an increase of approximately 13% from Rs. 68.4 billion at the end of 2025. Significantly, the Life Insurance Fund expanded by 22% to Rs. 59.8 billion, from Rs. 48.9 billion as of 31 December 2025, further strengthening the company’s long-term financial position.

Chairman Stuart Chapman said: ‘Sri Lanka’s economy has continued to demonstrate resilience, although inflationary pressures and global uncertainties remain important considerations for businesses and households. Against this backdrop, HNB Life’s performance during the first nine months of 2026 demonstrates the resilience of the company and the strong growth momentum. Our quality investment portfolio reinforces our ability to meet policyholder commitments through changing economic conditions. We remain focused on prudent stewardship and financial strength, positioning HNB Life to support customers’ long-term protection needs while creating sustainable value for shareholders.’

The company maintained its growth momentum during the third quarter, recording Life Insurance GWP of Rs. 7 billion for the three months ended 30 September 2026, an increase of 37% compared with Rs. 5.1 billion in the corresponding quarter of 2025.

Executive Director/Chief Executive Officer Lasitha Wimalaratne added: ‘I’m proud of the fact that the growth we’ve recorded in 3Q is the highest in the industry. Our ambition is to build HNB Life into a company that customers choose not only for the protection we provide today, but for the value we bring throughout their lives. Our strategy is centered on strengthening our distribution capabilities and keeping customers’ evolving needs at the heart of how we grow. For us, success means translating business momentum into lasting customer relationships, with a disciplined focus on profitability rather than growth alone. As we look ahead, we remain committed to building the capabilities that will sustain this ambition and shape HNB Life’s next phase of growth.’

HNB Life has also continued its progress towards the implementation of SLFRS 17 and SLFRS 9, including completing its main actuarial models, finalising the related accounting policies, running SLFRS 17 results in parallel with the current reporting basis, and further strengthening governance, controls and data validation processes.

Oman launches Visa-backed campaign to attract luxury tourists

Oman’s Ministry of Heritage and Tourism has launched a joint tourism promotion campaign with global payments company Visa and a national travel operator to attract high-spending international visitors and showcase the Sultanate’s luxury tourism offerings.

The initiative was unveiled at Oman’s pavilion during World Travel Market London 2026 (WTM London 2026), in the presence of Sayyid Ibrahim bin Said Al Busaidi, Minister of Heritage and Tourism.

Exclusive to Visa cardholders worldwide, the campaign targets travellers interested in luxury holidays, adventure tourism and marine activities.

It will use Visa’s advanced data analytics to identify potential visitors and convert interest in Oman into actual bookings.

Selected tourism packages and programmes will be promoted through the ‘Experience Oman’ app and platform, allowing users to explore experiences and book directly through the national travel operator’s digital booking system.

The initiative forms part of the ministry’s strategy to strengthen digital tourism marketing, expand international partnerships and increase the sector’s contribution to the national economy.

It will also provide data to evaluate market opportunities and guide potential future campaign phases.

Separately, the ministry unveiled its digital transformation programme, ‘Oman Tourism Hub’, on the sidelines of WTM London.

The platform aims to help local and international partners promote Oman and develop tourism products that highlight the country’s diverse attractions.

The integrated digital gateway features an AI-powered trip planner, an intelligent virtual assistant named ‘Dalila’, as well as e-training courses, webinars and newsletters.

Available in eight languages and covering 26 countries, Oman Tourism Hub is designed to broaden engagement with international partners and strengthen the Sultanate’s presence in key tourism markets.

Light and healthy Bokchoy with Garlic

You’d be surprised that sometimes the most delicious dishes are the ones that are the easiest to cook. No need for fancy sauces or special ingredients, just the natural flavors of a few fresh ingredients melding together harmoniously.

Such dishes are what content creator and mother of a teenager Annalyn Jusay Zogleman constantly looks for when she’s experimenting in her kitchen. For one, she is busy and cannot spend too much time laboring over one dish and yet she wants to feed herself and her teenager something healthy all the time.

Well, you cannot go wrong with green, leafy vegetables. So, when she watches reels and vlogs, she zeroes in on such recipes, and one particular recipe that she found on Instagram turned out to be a gem – Bokchoy with Garlic. Simple yet healthy and delicious. She cooked it once, was satisfied with the result, and made it her own by tweaking it to her preference.

Bokchoy with Garlic

Ingredients:

1 bunch fresh bokchoy (Taiwan pechay)

Light soy sauce

Oyster sauce

Honey

Pinch of salt

Pepper

Sugar

Mirin or rice wine vinegar

Hot water

All-purpose flour dissolved in a little water

Sesame seeds

Crispy fried garlic

Chili flakes

Procedure:

1. Wash bokchoy and cut them in half to shorten its length. Blanch for a few minutes in hot, boiling water. Remove and set aside.

2. Make the sauce. Combine small amounts of light soy sauce, oyster sauce, honey, salt and pepper, sugar, and mirin according to taste. Add water if too concentrated.

3. In a small bowl, dissolve flour (or cornstarch) in a little water to make a slurry or thickening agent. Add gradually to the sauce until thickened to desired sauce consistency.

4. Arrange blanched bokchoy on plate and spoon the warm sauce over the vegetable. Sprinkle with sesame seeds, crispy fried garlic, and chili flakes if you like a little heat in the dish.

5. You can also add the blanched bokchoy to the sauce, let it simmer, then turn off heat. Plate then sprinkle with the toppings.

6. Serve with freshly cooked rice. Enjoy!

Banking sector credit-to-deposit ratio tops 70% for first time in three years

Sri Lanka’s banking sector Credit-to-Deposit Ratio (CDR) has exceeded 70% for the first time in three years, reaching 74.0% by end June 2026 and surpassing its long-term average, with the Central Bank of Sri Lanka (CBSL) flagging credit growth outpacing deposits and a widening credit gap as potential sources of systemic risk.

In its recent Financial Stability Review 2026, the CBSL said financial intermediation, the channelling of deposits into loans by banks, strengthened during the review period on the back of continued credit expansion. The CDR, which maintained the upward momentum that emerged in early 2025, rose from 63.9% at end 2024 and 69.9% at end 2025.

Banking sector credit grew 23.6% year-on-year at end Q2 of 2026, more than double the 11.4% recorded a year earlier, while retail funding, comprising demand, savings and term deposits, increased by only 6.7%. The CBSL said credit accelerated markedly amid the continued economic recovery and the accommodative monetary conditions that prevailed during much of the period, while deposit growth remained comparatively moderate. Notably, the rise in the CDR occurred alongside broadly stable GDP growth, suggesting that the recovery in credit demand outpaced changes in overall economic activity.

Even so, the CDR remained below pre-crisis levels, having stood at 82.7% at end 2021, indicating that the increase partly reflected the normalisation of financial intermediation from the exceptionally subdued levels recorded during 2023 and 2024.

However, a sustained widening of the gap between credit and deposit growth could increase funding pressures and contribute to a gradual erosion of liquidity buffers if credit expansion continued to significantly outpace growth in stable deposit funding, the CBSL warned. That erosion is already visible: the banking sector’s Rupee Liquidity Coverage Ratio (LCR), which measures high quality liquid assets against 30-day net cash outflows, fell to 272.5% at end Q2 of 2026 from 328.5% a year earlier, while the share of high quality liquid assets in total assets declined to 29.5% from 33.8% at end 2025. The CBSL attributed the decline mainly to banks shifting assets from Government securities to private sector lending, though liquidity ratios remained well above regulatory thresholds.

The private sector credit cycle continued to progress within the expansionary phase, with the private sector credit-to-GDP ratio rising throughout the period. Consumption loans, the banking sector’s largest credit segment, grew 29.1% year-on-year at end Q2 of 2026, against 11.0% a year earlier, driven by pawning facilities, which rose 49.2%, and personal loans, which grew 21.3%, including loans for vehicle purchases. The CBSL attributed the surge in pawning to rising gold prices, warning of market and collateral risks should global gold prices correct sharply.

Across the financial sector, comprising banks and finance companies (FCs), motor vehicle related credit rose to 12.9% of total credit by end June 2026 from 9.8% at end 2024, following the relaxation of vehicle import restrictions in early 2025. Gold-backed lending rose to 12.0% from 9.8% over the same period. Total credit extended by banks and FCs accelerated from 14.0% year-on-year in June 2025 to a peak of 27.9% in March 2026, before easing marginally to 26.4% by June 2026.

At the same time, the Credit Gap, which measures how far credit deviates from its long-term trend relative to GDP, remained in positive territory and widened further. While a positive gap was consistent with the recovery in lending after the prolonged contraction of 2022 to 2024, its continued widening alongside rapid private sector credit growth warranted close monitoring, the CBSL said. A sustained expansion significantly above trend could lead to a buildup of borrower leverage, increased risk-taking and sectoral credit concentrations if not matched by growth in borrowers’ income and repayment capacity. Six sectors accounted for 72.9% of banking sector credit at end Q2 of 2026, up from 71.1% a year earlier.

In response, the CBSL raised the Overnight Policy Rate (OPR) by 100 basis points to 8.75% on 26 May 2026, its first policy rate increase since June 2023. It also tightened loan-to-value (LTV) limits, which cap the size of a loan relative to the value of the asset financed. In two rounds, in November 2025 and May 2026, the maximum LTV for new commercial vehicles was cut from 80% to 60% and for other new vehicles to 40%, while the limit for used vehicles was lowered from 70% to 60%. A maximum LTV of 70% on gold-backed credit took effect on 25 May 2026, alongside tighter risk weights. As these measures transmit with a lag, their impact on the pace and composition of credit growth would require continued monitoring, the CBSL said.

Meanwhile, the CBSL’s Credit Supply Survey showed loan demand continued to strengthen in Q2 of 2026 across the retail, corporate, SME and state-owned enterprise (SOE) sectors, although at a more moderate pace than in Q1. The expansion was largely supported by higher working capital requirements, demand for short-term loans and a revival of investment activity.

Banks expected both lending activity and credit demand to remain positive in Q3 of 2026. However, their willingness to lend is expected to increase at a slower pace, reflecting a more cautious outlook amid anticipated inflationary pressures, rising operating costs, exchange rate volatility and geopolitical uncertainties.

Don’t set better goals. Run better experiments

November has an unusual reputation, somewhere along the way, it became the waiting room for January. It’s too late to pretend the year unfolded exactly as planned, yet too early to write it off completely. Around this time, many professionals begin mentally closing the books on the year. We replay the promotion that didn’t happen, the business idea we never launched or the qualification we meant to complete.

Without realising it, we start treating an unfinished year like a finished one. Then comes the familiar promise. “I’ll start properly in January.” Yet I wonder if that’s one of the biggest career mistakes we make.

This is what behavioural scientists call the “fresh start effect”: our tendency to pursue goals after temporal landmarks such as New Year’s Day, birthdays or even the beginning of a new month. Those moments create a psychological separation from our past mistakes, making change feel easier. The problem is that waiting for a fresh start often means overlooking the one we already have.

The challenge is that goals often ask us to predict who we’ll become months from now. But what if, instead of thinking like fortune tellers, we think like scientists? This month offers us the opportunity to experiment.

Instead of promising yourself you’ll become a confident public speaker next year, volunteer to present at your next team meeting and see what happens. Instead of deciding that 2027 will be the year you build your professional network, invite just one interesting person for coffee before this month ends and make an observation.

Instead of announcing you’ll launch a business “one day,” spend a week conducting a survey from potential clients. The objective isn’t to prove you’re ready, it’s to discover what happens when you begin. Goals become tied to our identity and when we don’t achieve them, we begin questioning ourselves. Experiments don’t carry that burden. If an experiment succeeds, you’ve learnt something worth repeating. If it fails, you’ve learnt something worth changing. Either way, you’ve made progress.

Curiosity is remarkably difficult to discourage because it isn’t trying to protect your ego. It’s trying to understand reality. Today and tomorrow’s workplace rewards that type of mindset.

The World Economic Forum’s Future of Jobs Report 2025 identifies analytical thinking, curiosity, resilience, flexibility and lifelong learning among the fastest-growing skills employers value as artificial intelligence reshapes work. None of those qualities belong to people who believe they already have the answers. They belong to people willing to test, adapt and improve.

Artificial intelligence makes this even more relevant. Sure, AI can draft a business plan, write a proposal, analyse data and generate ten marketing campaigns before you’ve finished your morning coffee. But what A.I cannot do is replace the lessons that only action can teach, which is why the real answers are found by experiments.

So before you spend December writing ambitious goals for next year, ask yourself a different question. What experiment can I run before this year ends?