Business

CSE and SEC Ring the Bell for Financial Literacy

Published

5 years ago

2021/10/14

Podium Participants From Left: CSE Head of Marketing Niroshan Wijesundere, SEC Director Surveillance Prabash Wanigatunge, CSE Chief Regulatory Officer Renuke Wijayawardhane, SEC Commission Member Manil Jayesinghe, CSE Director Ray Abeywardena, SEC Chairman Viraj Dayaratne PC, CSE Chairman Dumith Fernando, SEC Director General Chinthaka Mendis, CSE CEO Rajeeva Bandaranaike, SEC Director External Relations and Capital Market Education Tushara Jayaratne, CSE Chief Information Officer Chandrakanth Jayasinghe

The Colombo Stock Exchange (CSE) in association with the Securities and Exchange Commission (SEC) joined stock exchanges from around the world to Ring the Bell for Financial Literacy, as part of the World Investor Week 2021 global campaign.

The International Organization of Securities Commissions (IOSCO) recently launched its fifth annual World Investor Week campaign following campaigns that previously paved the way for financial organizations across the globe to showcase their initiatives for promoting investor education and protection.

Over 80 global financial orgaizations have joined The Ring the Bell for Financial Literacy initiative in 2021, which is an initiative pioneered by the World Federation of Exchanges to bring stakeholders together for a call to action on improving financial literacy. These ceremonies also provide an opportunity for exchanges to promote the work being done within their respective jurisdictions to improve financial education and literacy.

According to key statistics based on a global financial literacy survey done by Standard & Poor’s (S&P), Sri Lanka indicated a significant gap between financial literacy and book literacy. According to the survey data, Sri Lanka has achieved 35% financial literacy while book literacy is around 90%. As per the survey, on average, 65% of adults in the major advanced economies are financially literate. This indicates a further unexplored scope to promote financial literacy among Sri Lankans, and thereby contribute to an economically stable population. Fronted by this objective, CSE and SEC cover a broad range of socioeconomic and demographic segments around the country, targeting various aspects of financial literacy throughout the year.

The Ring the Bell for Financial Literacy Ceremony organized at CSE was part of a series of several initiatives organized in Sri Lanka for the World Investor Week campaign by the CSE and the SEC.

Delivering the opening remarks at the ceremony the Chairman of CSE, Mr. Dumith Fernando commented that the initiative is quite timely and comes at a juncture where a paramount importance should be placed on individual financial literacy in elevating the economy of Sri Lanka post pandemic and in the country’s road to financial revival of our citizens. He further stated “As key stakeholders of the Sri Lankan financial space, SEC and CSE believe that we have a greater role to play in financial education and in promoting a more financially savvy population. Our investment and involvement in education in the Sri Lankan financial literacy is fundamental to our commitment to market integrity, inclusive growth, sustainable economic expansion, and fostering an investor-protected capital market.

CSE has over 400 strategized initiatives throughout the year aimed at broadening investor knowledge and educating the public on how to take advantage of the capital market. Financial technology or Fintech is acting as a catalyst in revolutionizing financial markets around the world. Therefore, we have recognized that it is high time to adopt and surpass the traditional approaches of imparting knowledge and skills. “

The Chairman of the SEC, Mr. Viraj Dayaratne PC, who spoke at the event noted the extensive effort made by the SEC towards educating the Sri Lankan investment community. He added “When you speak of education and awareness, its two fold. One part of education is to ensure that investors or the general public move away from traditional means of savings to investments. So as far as education is concerned, that is a message that has to be taken to masses. Next aspect is the protection of investors, once they come into the market and get involved with investments, it is our responsibility to ensure that their investments are safe.

Investors need to educate themselves, gather information, and the sources that you gather information is very important, because you have to gather that information/knowledge from the proper sources. If not your investments may not be safe. We have the Latin term “Caveat emptor”, that means Buyer Beware, like any other investment, you go to buy some goods from a store, you do some homework and you find out who has manufactured, is there a warranty, the brand and so on. You need to be mindful of that information when you decide to buy something. As a regulator, we can protect you, we have measures in place to protect you. But you need to look after yourself as well. You can’t make investments that are not safe and rely on the regulator or the stock exchange to look after you. You have to look after yourself. This is something that needs to be taken forward, not only at a time like this but throughout the year.”

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Business

AIA delivers strong first half results in 2026; double-digit growth across key financial metrics

Published

13 hours ago

2026/09/5

Thilina Walpola

The Board of AIA Group Limited (the “Company”) is pleased to announce the Group’s financial results for the six months ended 30 June 2026. Growth rates are shown on a constant exchange rate basis unless otherwise stated:

New business performance and embedded value

Value of new business (VONB) of US$3,212 million, up 10 per cent overall and 14 per cent excluding Thailand(1)

Record high annualised operating ROEV of 18.0 per cent, up from 15.8 per cent in full year 2025

EV Equity of US$83.4 billion, up 6 per cent per share over the first half on an actual exchange rate basis

IFRS earnings

Operating profit after tax (OPAT) of US$4,163 million, up 13 per cent per share

AIA now expects to exceed OPAT per share CAGR target of 9 to 11 per cent from 2023 to 2026(2)

Record high annualised operating ROE of 17.5 per cent, up from 15.5 per cent in full year 2025

Cash generation and capital returns

Underlying free surplus generation (UFSG) of US$3,935 million, increased by 10 per cent per share

Net free surplus generation (net FSG) of US$2,758 million, up 12 per cent per share

US$3.6 billion returned to shareholders in the first half through dividend and share buy-back

Interim dividend increased by 10 per cent to 53.90 Hong Kong cents per share

Lee Yuan Siong, AIA’s Group Chief Executive and President, said:

“AIA has delivered another strong performance in the first half of 2026, with double-digit growth across our key financial metrics, while continuing to return substantial capital to shareholders. VONB reached a record high of US$3.2 billion with growth across all distribution channels, and all reportable segments excluding Thailand. The Group has achieved 17 per cent CAGR since the first half of 2023(3), demonstrating consistently strong demand for AIA’s professional advice and differentiated products.

“At the core of our unrivalled distribution platform is our market-leading Premier Agency. I am delighted that AIA has once again been ranked the number one Million Dollar Round Table (MDRT) multinational company globally. We have held this position for a record 12 consecutive years and we have more than double the number of MDRT members of our nearest competitor. In the first half of 2026, our Premier Agency achieved strong VONB growth of 11 per cent excluding Thailand(1). Our extensive network of strategic distribution partners further expands our market reach and generated an 18 per cent increase in VONB, supported by very strong performance in both the bancassurance and independent financial adviser (IFA) and broker channels.

“Strong new business, together with disciplined management of our in-force portfolio, has supported sustained growth in recurring earnings with OPAT per share up by 13 per cent in the first half. As a result, we expect to exceed our 9 to 11 per cent OPAT per share CAGR target for 2023 to 2026(2). UFSG, the Group’s core measure of operating cash generation, increased by 10 per cent per share. After allowing for new business investment, net FSG increased by 12 per cent per share. In accordance with our prudent, sustainable and progressive dividend policy, the Board has declared a 10 per cent increase in the interim dividend to 53.90 Hong Kong cents per share. These achievements demonstrate that our financial strategy is working as intended.

“Asia remains the most compelling growth opportunity for life and health insurance. Powerful structural tailwinds across the region continue to create substantial demand for our professional advice and differentiated products and underpin the exceptional long-term prospects for AIA’s business. I am confident that AIA’s disciplined execution of our strategic priorities will continue to deliver long-term sustainable value for all our stakeholders.”

Business

British Council Sri Lanka launches soft skills workshops to elevate learning and empower communication

Published

13 hours ago

2026/09/5

Thilina Walpola

The British Council team answering questions on Corporate English Solutions from leading corporates about professional development skills courses

The British Council Sri Lanka has launched Corporate English Solutions (CES), tailored to the Sri Lankan corporate and education ecosystem, aimed at helping organisations strengthen workplace communication and professional development.

The launch event took place recently at the NH Collection, Colombo 3, gathering corporate partners, clients and education stakeholders throughout the country.

CES extends the British Council’s long-standing work in English language education and teacher training into a dedicated offering for the corporate sector. The launch introduced two new components to the British Council’s presence in Sri Lanka such as public workshops and teacher training programmes, open to learners and educators beyond the organisation’s existing corporate and academic partners. Guests at the event were shown a short video introducing Corporate English Solutions before the formal proceedings began.

Talal Meer, British Council Regional Business Development Director, South Asia, welcomed guests and introduced the British Council’s team in Sri Lanka. In his remarks, Meer set out the scope of the CES launch, covering the introduction of public workshops in Sri Lanka, the rollout of teacher training programmes, and an overview of the CES product portfolio. Meer’s role covers educational partnerships in the South Asia region, and his address framed the Sri Lanka launch within the British Council’s broader regional strategy.

Business

Ogilvy Group tops award tally at ‘Dragons of Sri Lanka’ 2026

Published

13 hours ago

2026/09/5

Thilina Walpola

Ogilvy Group Sri Lanka delivered a standout performance at the recently concluded Dragons of Sri Lanka 2026 Awards, securing a total of nine awards comprising two Gold Dragons, one Silver Dragon and six Black Dragons, among the festival’s highest overall award tallies. Gold Dragon wins for Phoenix Ogilvy and Ogilvy Digital, together with the seven additional recognitions across multiple categories, highlighted Ogilvy’s ability to combine creativity, strategic thinking and commercial effectiveness to deliver business results.

Organised by the 4As Sri Lanka, the third edition of Dragons of Sri Lanka shortlisted more than 50 agencies and corporates, making it one of the country’s most competitive marketing communications awards. These local awards, along with the chapters in Malaysia and Pakistan are part of the Dragons of Asia platform, one of the region’s leading programmes for marketing communications effectiveness, with entries being judged on strategy, originality, execution and measurable results.

Ogilvy Digital accounted for eight awards in total, including a Gold Dragon in the Business & Trade Marketing category, and a Silver Dragon in the Innovative Idea or Concept category. The Agency additionally received six Black Dragons across the categories of Innovative Idea or Concept, Business & Trade Marketing, Content Creation, Small Budget, Event or Experiential, and Brand Trial or Sales Generation.

Commenting on the achievement, Sajith Weerasinghe, Chief Operating Officer of Ogilvy Digital, said, “These recognitions reflect the breadth of capabilities we’ve built across strategy, creative, content, experience design, technology and performance marketing. The fact that the work was recognised across so many different disciplines demonstrates our ability to apply creativity to a wide range of business challenges and objectives. We’re proud that this achievement spans multiple clients, categories and types of work, reflecting both the versatility of our people and our commitment to delivering results.”