Business

AIA’s national safety initiative, the Poson Safety Programme continues for 27th year

Published

4 years ago

2022/06/10

AIA Insurance will continue its commitment towards one of Sri Lanka’s longest standing Corporate Social Responsibility (CSR) projects, the AIA Poson Safety Programme for the 27th year, this Poson. Held across three days, in Anuradhapura, Polonnaruwa, Dambulla and Mihintale, the programme facilitates 500 lifeguards across 22 reservoirs and lakes to ensure that pilgrims are safe when they bathe in the bodies of water.

Specially in this year of challenge, it is anticipated that Sri Lankans will feel a stronger need to engage in the powerful religious activities associated with Poson, to pray for our motherland. Therefore, the expectation is that a large crowd of pilgrims will gather together in these sacred locations to engage in powerful religious activities, despite the current country situation.

With its abundance of lakes and reservoirs in the North Central Province, these reservoirs overflow during Poson, with not just water but with religious devotees from all over the country to bathe in these reservoirs to beat the heat and to cleanse themselves before making the pilgrimage to the “Udamaluwa”. With that in mind, AIA was determined to continue its societal endeavours to conduct the lifesaving programme and be there to protect those pilgrims.

Chathuri Munaweera, AIA’s Chief Executive Officer said, “This programme has become such a nationally relevant initiative since 1993 and over the years we have saved over 200 lives…someone’s spouse, someone’s child, someone’s parent…a family’s breadwinner…every life saved was so precious. That is why we are committed to carrying out the project this year, despite the current economic challenges, because we want to be there for Sri Lankans when they need us the most, not just in good times but especially during difficult times too.”

Following an unfortunate death in 1992, and being concerned about the safety of pilgrims, AIA pursued a solution to prevent the loss of lives due to drowning during Poson. So, in 1993, AIA together with the Sri Lanka Life Saving Association, the Sri Lanka Navy and the Sri Lanka Police launched the Poson Safety Programme with the intention of putting a stop to the senseless loss of lives by drowning.

AIA will not only facilitate the presence of lifeguards around the lakes and reservoirs but also mark warning signs around the areas on where it is dangerous and safe to bathe. AIA will also educate and create awareness on the dangers of drowning through displays, signboards, hoardings, and pennants across the Anuradhapura District to encourage pilgrims to be cautious. AIA has further launched a campaign across social media to encourage pilgrims to be careful and alert when bathing in lakes or reservoirs.

As the Best Life Insurance Company in Sri Lanka (awarded by Capital Finance International, 2021) and The Brand Market Leader in Sri Lanka (awarded by Thought Leaders International, 2021), AIA is an internationally recognised, local brand that is firmly rooted in the needs and protection of the Sri Lankan people. The AIA Poson Safety Programme is another such initiative where AIA’s commitment to national causes materializes while solidifying the company’s commitment to helping Sri Lankans live healthier, longer, better lives.

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Business

ADB approves $100 million loan to boost skills development and jobs for youth in Sri Lanka

Published

20 hours ago

2026/10/2

Thilina Walpola

The Asian Development Bank (ADB) has approved a $100 million results-based loan to help Sri Lanka transform its technical and vocational education and training (TVET) system, equip more young people with industry-relevant skills, and strengthen the country’s competitiveness and inclusive growth.

The Skills Development System Transformation Program will support the Government of Sri Lanka’s efforts in improving the quality and relevance of skills training, strengthening links between training providers and industries, and expanding employment opportunities for youth. The program will increase women’s employment opportunities in nontraditional jobs in fields including automotive technology, engineering, information and communications technology, construction, and renewable energy.

“A skilled workforce is essential to Sri Lanka’s long-term economic transformation and competitiveness,” said ADB Country Director for Sri Lanka Shannon Cowlin. “This program will help create stronger pathways from education to employment by making training more responsive to industry needs, expanding opportunities for young people and women, and ensuring that graduates have the skills required by a modern and evolving economy.”

Though Sri Lanka’s economy is recovering, it faces skills shortages in priority sectors, high youth unemployment, and low female labor force participation. Many employers report difficulty finding workers with the skills needed in a changing economy.

Aligned with the Government of Sri Lanka’s Technical and Vocational Education and Training Sector Strategic Framework 2026–2035, the nationwide program will be implemented from 2027 to 2031 and is expected to directly benefit more than 100,000 young people through improved access to quality, employment-oriented training.

Business

USD 40.84m pipeline to secure aviation fuel supplies to BIA

Published

20 hours ago

2026/10/2

Thilina Walpola

By Ifham Nizam

The government has cleared a USD 40.84 million and Rs. 8,548.75 million contract to build a dedicated aviation fuel pipeline from Muthurajawela to Bandaranaike International Airport (BIA), alongside a massive new fuel storage facility with a capacity of 92,000 cubic metres.

Energy Minister Anura Karunatilaka said the project represented a major investment in strengthening the infrastructure underpinning Sri Lanka’s aviation fuel supply and ensuring more reliable fuel availability at the country’s main international airport.

‘This project will provide the infrastructure required to strengthen the reliability and continuity of aviation fuel supplies to Bandaranaike International Airport, Karunatilaka said.

The contract has been awarded to China Petroleum Pipeline Engineering Company Limited, following an international competitive procurement process in which three bids were received.

The project will see a new aviation fuel storage tank complex constructed at Muthurajawela, together with the associated infrastructure required for handling and transferring aviation fuel.

Business

CSE activity up, turnover weak at Rs. 1.4 billion

Published

20 hours ago

2026/10/2

Thilina Walpola

By Hiran H Senewiratne

Trading activity on the Colombo Stock Exchange (CSE) gathered pace yesterday as global fuel prices began to show signs of easing, according to market analysts.In this context, both indices moved upwards. All Share Price Index up by 67.97 points while S and P SL20 up by 8.30 points.

Turnover stood at Rs 1.4 billion with seven crossings. Those crossings were reported in Sampath Bank 1.7 million shares crossed to the tune of Rs 238 million and its share price traded at Rs 140, Access Engineering two million shares crossed to the tune of Rs 159 million and its share price traded at Rs 79.50, LOLC one million shares crossed to the tune of Rs 129 million and its share price traded at Rs 129, HNB 100,000 shares crossed to the tune of Rs 38.4 million and its share price traded at Rs 384, JKH 1.9 million shares crossed to the tune of Rs 35 million and its share price traded at Rs 18.60, Hayleys 100,000 shares crossed to the tune of Rs 22.50 million and its share price traded at Rs 225 and Richard Pieris 847,000 shares crossed to the tune of Rs 22 million and its share price traded at Rs 25.50.

In the retail market top seven companies that have mainly contributed to the turnover were Sampath Bank Rs 114 million (813,000 shares traded), JKH Rs 100 million (5.3 million shares traded) LB Finance Rs 49 million (325,000 shares traded), HNB Finance Rs 30 million (27 million shares traded), HNB Rs 27 million (70000 shares traded), NTB Rs 25 million (82000 shares traded ) and Lanka IOC Rs 21 million (666,000 shares traded). During the day 65 million shares volumes changed hands in 10433 transactions.

The Banking and manufacturing sector counters performed well. In the banking sector Sampath Bank let the market while manufacturing sector especially JKH also significantly performed well. With the fuel revision Land IOC also a significant stock at the floor.

Meanwhile, First Capital Treasuries said that Ramesh Schaffter resigned as a Non-Independent Non-Executive Director with effect from October 1, to facilitate the restructuring of the company’s board.

Yesterday the Central Bank announced the US Dollar rate as against rupee. The rupee was quoted flat at Rs 330.65/80 to the US dollar in the spot market , while bond yields dropped, dealers said.