Business
CSE’s implementation of shortened settlement cycle for equity trades proves successful

The Colombo Stock Exchange’s (CSE) implementation of the shortened settlement cycle for equity trades has been executed seamlessly with the first settlement under the T+ 2 cycle taking place on 12th June 2024, marking a significant milestone in Sri Lankan Capital Market operations. Investors have experienced swift payment processing, receiving their funds within two days for the first time since the cycle reduction.
Following collaborative efforts with the Securities and Exchange Commission of Sri Lanka (SEC) and industry stakeholders, the transition to a T+2 settlement cycle on June 10th, 2024, has yielded tangible results. Investors now benefit from expedited fund transfers and security exchanges, with transactions settling within a shorter timeframe.
Senior Vice President – Enterprise Risk Management & Post Trade Settlement, Ms. Dulani Warnakulasooriya mentioned, “Moving to a shorter settlement cycle has proved to increase the settlement efficiency. This change will further benefit the market participants by freeing up working capital and lowering the collateral requirements.”
The successful implementation of the shortened settlement cycle not only reduces operational risks but also amplifies market liquidity. Further, this achievement underscores the effectiveness of the CSE’s strategic initiatives in enhancing investor experience.
Business
Monaragala wilting under the scorching impact of climate change

Sri Lanka’s agricultural backbone, the Monaragala District, is buckling under the weight of climate change, according to the Centre for Environmental Justice (CEJ). Executive Director, Dilena Pathragoda, speaking to The Island Financial Review said that their study outlines a stark warning that the district’s economic survival is in grave danger unless urgent action is taken.
Speaking on the findings of a new study, he stated, “The impacts of climate change are no longer distant predictions. They are happening here and now; devastating crops, livelihoods and the economic lifeblood of Monaragala.”
The report paints a worrying picture. Monaragala, traditionally a region reliant on rice, sugarcane and seasonal crops, is seeing shifts in temperature and rainfall that severely disrupt agricultural activities. The district’s average temperature has already risen by one degree Celsius over the past four decades, a trend that is expected to accelerate. Future climate projections suggest that, without substantial mitigation efforts, the region could experience temperature increases that make traditional farming almost impossible during key growing seasons.
Rainfall, once predictable and sufficient to sustain farming cycles, is becoming increasingly erratic. Extended dry spells and unseasonal rains are throwing planting schedules into chaos. The report notes that the first inter-monsoon and Northeast monsoon periods, critical to both paddy and seasonal crop cultivation, are seeing decreased rainfall in key areas. This reduction is contributing to an alarming depletion of groundwater and reservoir levels, threatening both crop irrigation and drinking water supplies.
Pathragoda emphasized that the economic consequences of these changes are already being felt. Farmers, particularly in areas like Siyambalanduwa and Buttala, are struggling to maintain their livelihoods. Loss of crops not only reduces household incomes but also increases food insecurity and triggers wider economic instability. With agriculture employing a significant majority of Monaragala’s working population, the ripple effects of climate failures are profound, reaching into every sector from local markets to transportation and small industries.
Compounding the issue is the poor state of local irrigation systems. According to the study, many of the district’s small and medium-scale tanks, once critical sources of irrigation, have been abandoned or fallen into disrepair. Water shortages have led to fierce competition among farmers and the need to adopt costly alternatives, such as deep-well pumping systems, is pushing many into debt. Meanwhile, the lack of access to drought-resistant crop varieties and modern water conservation technologies is leaving the majority of smallholder farmers dangerously exposed.
The Centre for Environmental Justice is calling for an immediate, coordinated response. Pathragoda insists that restoration of water storage infrastructure, adoption of climate-resilient agriculture techniques and the empowerment of local farming communities must become national priorities. He pointed out that the survival of Monaragala’s economy, and indeed its social stability, depends on whether these adaptation measures are rolled out quickly and effectively.
“The time for abstract discussions is over,” Pathragoda said. “We must bring national policies down to the village level, equipping farmers with real tools to adapt and survive. Otherwise, we risk witnessing an irreversible collapse not only of livelihoods but of entire communities.”
The situation in Monaragala serves as a grim warning for other districts in Sri Lanka. Without decisive action, the economic heart of rural Sri Lanka could wither under the harsh new realities of a changing climate, leaving devastation in its wake.
By Ifham Nizam
Business
HUTCH expands digital onboarding for customers via Singer branch network

In a move to accelerate digital transformation and enhance customer convenience, HUTCH has expanded its ongoing partnership with Singer, Sri Lanka’s foremost consumer durables retailer, to enable wider access to eSIM technology and offer a digitally streamlined onboarding for mobile users across the country.
This fully digital onboarding model ensures a swift, paperless experience eliminating manual processes and repeat visits. Whether activating an eSIM in-store or obtaining a standard physical SIM, customers can now enjoy a seamless journey that reflects the ease and efficiency of today’s digital lifestyle.
The process is designed to be fully digital and effortless. Upon scanning the in-store QR code with their smartphone, customers are directed to a HUTCH digital platform where they can either activate an eSIM instantly or complete a quick form to request a physical SIM to your doorstep. This eliminates the need for return visits, paperwork, or manual handling, ensuring a frictionless onboarding experience that meets the expectations of today’s connected consumers.
Beyond accessibility and affordability, this partnership introduces a new era of customer-centric mobile service delivery. Customers no longer need to visit different locations to purchase a smartphones and obtain a mobile connection. HUTCH and Singer collaboration has brought the full experience under a single roof. By combining HUTCH’s advanced connectivity solutions with Singer’s island-wide retail presence, the partnership offers a one-stop destination for mobile needs, streamlining the journey from device purchase to network activation.
Business
Panthera Styles expands operations with grand opening at Colpetty

Panthera Styles officially opened its newest branch in Colombo 3, marking another milestone in its journey of redefining fashion in Sri Lanka. The new store was ceremonially declared open by Panthera Styles Founder Wathsala Aththanayake, her husband Channa Gunawardana, family members, popular social media influencers and other special invitees.
The new store, conveniently located at 4B Bagatalle Road, Colombo 3, reaffirms Panthera Styles’ commitment to redefining everyday style – making premium fashion more accessible, exciting, and always ahead of the curve. Shoppers can expect a carefully curated mix of statement pieces, timeless essentials, and on-trend designs that embody the spirit of contemporary living. To celebrate this latest milestone, Panthera Styles is offering customers of all three stores the chance to enjoy exclusive opening promotions and special discounts.
Expressing her views on the new store opening, Wathsala Aththanayake stated, “Everyone here at Panthera Styles are proud to enter an exciting new chapter with the opening of this new store, located in the heart of one of the city’s most vibrant shopping destinations. Our two outlets at Pelawatte and Kirulapone have already built a loyal base of customers seeking newest collections, featuring must-have styles for the modern wardrobe. The new store, with its elegant and modern interior, has been designed to offer a seamless and elevated shopping experience. I invite all customers to step into a world of elegance, trendsetting styles, and timeless pieces – all curated just for you.”
Panthera Styles’ three stores and its online store pantherastyles.com provides a wide range of casual dresses, office wear, party wear, footwear, linen, fragrances as well as their unique Trusted by Panthera brand of CSR-focused items. Trusted by Panthera was created with a powerful mission: to uplift and empower female artisans from underprivileged communities. By providing a platform to showcase their creative talents, the initiative seeks to transform lives through opportunity and recognition. Each handcrafted treasure, such as jewellery, accessories, bags, wallets, or home décor, is a reflection of the artisans’ skill, passion, and talent. Trusted by Panthera goes beyond commerce – it is a movement that champions female empowerment, encouraging women to achieve financial independence, build confidence, and create sustainable livelihoods.
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