Business
SEC/CSE Varsity Battles 2023, inter-faculty quiz competitions held
The Varsity Battles 2023, inter-faculty quiz organized by the Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE), was successfully completed at the University of Peradeniya (UOP) and the Wayamba University of Sri Lanka (WUSL) on 21st & 22nd of June 2023, respectively.
The Faculty of Science Team 2 emerged as the winning team of the inter-faculty quiz at the University of Peradeniya, receiving a cash prize of Rs. 75,000, whilst the Faculty of Medicine Team 2 and the Faculty of Dental Science Team 1, received certificates for being 1st and 2nd runners- up, respectively.
At the inter-faculty quiz competition held at the Wayamba University of Sri Lanka, Faculty of Applied Sciences Team 1 emerged as the winning team, receiving a cash prize of Rs. 75,000, whilst Faculty of Agriculture & Plantation Management Team 2 and Faculty of Agriculture & Plantation Management Team 1 received certificates for being 1st and 2nd runners-up, respectively.
The Varsity Battles 2023 intend to create awareness and educate university students, on capital markets and to increase financial literacy among university students. The quiz initially launched in May 2023 with the Rajarata University of Sri Lanka and the University of Jaffna, Sri Lanka.
The quiz commenced in May 2023, at the Rajarata University of Sri Lanka and the University of Jaffna, Sri Lanka.
The top three teams with the highest scores at the inter-faculty competition will compete at the inter-university competition. The winning team of the inter-university competition will receive a cash prize of Rs. 300,000, whilst 1st and 2nd runners-up teams will receive Rs. 200,000 and Rs. 100,000, respectively.
Commenting on the initiative, CSE Senior Vice President Marketing, Mr. Niroshan Wijesundere, said, “The Quiz Competition is another initiative taken by the Colombo Stock Exchange in collaboration with the Securities and Exchange Commission 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.”
Director External Relations and Capital Market Education, SEC, Mr. Tushara Jayaratne, commented “During recent years, we witnessed the emergence of a younger generation of investors to the stock market. However, concerns about their level of financial literacy remains. The SEC/CSE Varsity Battles initiative will offer undergraduates the opportunity to build confidence and knowledge to participate in the capital market, build wealth and derive better financial outcome later in life.”
A group of organizations have come together as sponsors to make this inter university competition a reality. The Varsity Battles 2023 is sponsored by the following organizations.
Platinum sponsors: First Capital Holdings PLC and Bartleet Religare Securities (PVT) Ltd.
Gold sponsors: CIMA Sri Lanka, Capital Trust Holdings Ltd, London Stock Exchange Group Sri Lanka, CT CLSA Securities (Pvt) Ltd, and Senfin Securities Limited
Silver sponsors: Lanka Securities (PVT) Ltd, LOLC Holdings PLC, Asha Securities Ltd, Softlogic Stockbrokers (PVT) Ltd, Almas Equities (PVT) Ltd, and Senfin Asset Management (PVT) Ltd
Co-sponsors: Vidullanka PLC, Millennium IT ESP (PVT) Ltd, CryptoGen (PVT) Ltd, Data Management Systems (PVT) Ltd, Sunshine Holdings PLC, Barista Coffee Lanka (PVT) Ltd, Cargills (Ceylon) PLC, Lanka IOC PLC, N-able (PVT) Ltd, and E Futures (PVT) Ltd, Hemas Holdings PLC and Tokyo Cement Company (Lanka) PLC.
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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