Business
SEC/CSE Varsity Battles 2023 ends on a grand scale
The Varsity Battles 2023, the inaugural inter-university capital market quiz competition, organized by the Securities and Exchange Commission of Sri Lanka (SEC) and Colombo Stock Exchange (CSE), was held last week at the Grand Kandyan Hotel, Kandy, with the participation of 39 teams from 13 state universities. The team from the Faculty of Commerce and Management from University of Kelaniya (Kelaniya Mavericks) emerged winner of the overall competition with a cash prize of Rs. 300,000/-.
Faizal Salieh, chairman SEC, Dilshan Wirasekara, chairman CSE, Chinthaka Mendis, Director General SEC, Renuke Wijayawardhane, Chief Regulatory Officer, CSE, Tushara Jayaratne, Deputy Director General, SEC and Niroshan Wijesundere, Senior Vice President Marketing, CSE along with other officials from the SEC and CSE were present at the Varsity Battles 2023.
The Faculty of Engineering from the University of Moratuwa (Mora Sharks) was placed first runner-up and received a cash prize of Rs. 200,000/- while the Faculty of Medicine from the University of Peradeniya (Pera Prodigies) was placed second runner-up with a Rs. 100,000/- cash award.
The objective of Varsity Battles 2023 is to create awareness and educate university students on capital markets and to enhance financial literacy among university students. The first stage of the quiz (inter-faculty quiz) was launched in May 2023. The inter-faculty quiz competition was conducted at 13 state universities, and the top three teams with the highest scores in this stage were promoted to the final stage.
Participants in the quiz competition were tested on their knowledge in Global Markets, General Knowledge, Sri Lankan Economy and Businesses, Current Affairs, Sports, Entertainment and other areas in relation to the management of financial securities.
Commenting on the initiative, CSE chairman, Dilshan Wirasekara, said that “The Quiz Competition is another initiative taken by the CSE in collaboration with the SEC to create awareness on the importance of financial, investor, and capital market education. Thus, this initiative highlights the importance of financial literacy for every undergraduate in Sri Lanka.”
“SEC and CSE initiated Varsity Battles with the intention of convincing the public that financial education could be quite an exciting and fun-filled engagement. This interest in the universities to participate and view this quiz as a fun and engaging learning experience has been vital to the success of this event.”
Speaking at the competition, SEC chairman, Faizal Salieh, stated, “Understanding basic financial skills and concepts is not merely an individual responsibility but a cornerstone for a successful financial future. In 2009, the SEC conducted the inaugural Inter-University Quiz Competition, which set the stage for Varsity Battles 2023, the first-ever University Quiz organized by the SEC in collaboration with the CSE. A financially literate generation, nurtured through initiatives like this, will undoubtedly contribute to a more prosperous and resilient society.”
Business
Charting a worker-centered AI future: Colombo hosts landmark ITF conference
By Sanath Nanayakkare
Artificial intelligence and automation present serious challenges for workers – such as job consequences seen in docks and rail systems – and emphasises that workers cannot simply stop technological progress. By gathering young trade unionists in Sri Lanka, the ITF aims to establish key principles for engaging with technology, ensuring workers have a strong voice at the bargaining table, and encouraging constructive social dialogue with corporations and governments.
These compelling words from ITF General Secretary Stephen Cotton underscored the urgent reality facing modern labor as rapid technological advancements sweep across global industries.
Confronting this shifting landscape head-on, the International Transport Workers’ Federation (ITF), in partnership with the National Union of Seafarers of Sri Lanka (NUSS), convened a ground-breaking conference on artificial intelligence in Colombo from September 15–17.
As the ITF’s first-ever AI-focused global conference and the first of its kind hosted in Sri Lanka, the landmark event marked a critical milestone in balancing technological innovation with worker-centered safeguards.
Representing over 16.6 million transport workers worldwide, the ITF designed the gathering to tackle the multifaceted impacts of AI on safety, operations, workforce development, and governance. Rather than resisting progress, the conference focused on proactive engagement, establishing guiding principles to protect workers’ rights and privacy both at sea and on land.
Key discussions centred on sharing best practices for upskilling and reskilling transport personnel, ensuring that human oversight remains central to AI-driven logistics, routing, and maintenance.
Reflecting on the historic nature of the event, Boa Athu, CEO of National Union of Seafarers Asia Pacific, noted that the conference represented a monumental moment as AI emerges as a permanent fixture of contemporary life.
Highlighting NUSS’s pride in hosting the event in Colombo, Athu emphasised that AI offers transformative potential when guided by strong social dialogue, equitable access to training, and robust governance safeguards.
Ultimately, the Colombo conference demonstrated that the future of transport must be shaped by those who keep the world moving. By uniting international labour leaders, affiliates, port operators, and regulators, the event laid a vital foundation for inclusive policy frameworks that champion fair labour standards, securing a powerful voice for workers in an automated tomorrow.
Business
Bridging the digital divide: Sri Lanka’s airport licence challenge
By Sanath Nanayakkare
As Sri Lanka experiences a surge in visitors from its largest tourist market, India, a modern administrative hurdle has emerged at Bandaranaike International Airport (BIA).
While nations like India and Pakistan have successfully transitioned to fully digital driving licences and cashless ecosystems, Sri Lanka’s Department of Motor Traffic counter still requires a physical card to issue temporary local permits, The Island Financial Review learns.
This mismatch creates significant friction for independent travelers who rely entirely on smartphones and cloud-stored credentials. Tourists turned away at the airport – and sometimes redirected to the Werahera office in vain – find themselves unable to legally rent and drive vehicles. Consequently, this policy gap harms local car rental operators, causes tourist frustration, and deprives the government of valuable permit revenue.
The situation highlights a distinct irony: Sri Lankan motorists easily travel abroad using International Driving Permits that are readily accepted in India and Pakistan, yet local infrastructure cannot reciprocate due to outdated verification systems.
Recognizing the problem, Department of Motor Traffic officials have noted that upgrades and new equipment are currently in the works to integrate foreign digital platforms.
For a nation aggressively pursuing a national digitalisation drive, rapidly modernising these transport protocols is essential to keeping pace with global travelers and unlocking the full potential of its tourism economy.
Business
International Afro-Latin Dance Festival in Colombo to grow into a larger regional tourism draw
ALIF-SL, Sri Lanka’s first-ever international Afro-Latin dance festival, returns for its 4th edition from 25 to 27 September 2026 at the Galle Face Hotel, Colombo. The festival will bring together over 30 international and national artists and 175–200 participants from more than 20 countries, reaffirming its place as the region’s leading platform for Salsa, Bachata and Kizomba.
This year’s edition is headlined by Tropical Gem, the world’s No. 1 salsa team, travelling from Italy to perform and teach alongside a stellar international line-up. Attendees can also look forward to the ALIF Cup Sri Lanka Open, a keenly contested competition judged by an international panel, giving local dancers a rare opportunity to compete and connect with world-class talent.
“Every year, ALIF connects Sri Lanka to the world. With this year’s artist line-up and the ALIF Cup competition, we’re not just hosting a festival, we’re putting Sri Lanka on the map as a top destination for dance,” said JD Ruban, Founder and Director of ALIF-SL
Beyond the dance floor, ALIF-SL continues to support Sri Lanka’s tourism sector, drawing dancers, judges and enthusiasts from across the globe to Colombo and positioning the capital as an emerging regional hub for social dance. Organizers plan to grow the festival into a larger regional tourism draw, introduce new competition categories, and bring in even bigger headline acts in future editions.
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