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Russian-Ukrainian crisis likely to affect multiple sectors in Sri Lanka

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By Hiran H.Senewiratne

The effect on the CSE from the Russia-Ukraine crisis still cannot be commented on. But the CSE performed well yesterday to a satisfactory level even with the current external and internal uncertainties, CSE’s Head of Marketing Niroshan Wijesundera said.

“Since Ukrainian and Russian delegations will likely meet on the border between Ukraine and Belarus for peace talks, it will create some hope on this situation. If not it will affect many sectors, such as tourism, oil and gas, plantation sectors, such as tea and many more sectors, Wijesundera told the Island Financial Review.

He said that yesterday CSE produced a strong rebound with indices gaining but the bourse could be negatively impacted it if the tense situation continues. It is said that the US $ one billion Indian loan for Sri Lanka created a positive sentiment in spite of insufficient efforts to revive the situation.

Amid those developments, the CSE market started its trading on a positive note but did not continue that momentum. However, in the latter part of the day huge buying interest was noted in Expolanka Holdings, which automatically turned the market towards positive territory. As a result, indices at the CSE recorded significant gains yesterday with the All -Share Price Index increasing by 470.04 points (4.23 per cent) to 11577.94, while the S and P SL20 increased by 204.40 points (5.46 per cent) to 3946.73. Turnover stood at Rs 4.3 billion sans a single crossing.

In the retail market, the top seven companies that mainly contributed to the turnover were, Expolanka Holdings Rs one billion (3.7 million shares traded), Browns Investments Rs 330 million (27.5 million shares traded), LOLC Finance Rs 281 million (2.2 million shares traded), Commercial Leasing and Finance Rs 262 million (5.5 million shares traded), LOLC Finance Rs 213 million (225,000 shares traded), Royal Ceramic Rs 211 million (3.6 million shares traded) and Softlogic Life Insurance Rs 147 million (1.4 million shares traded). During the day 212 million share volumes changed hands in 41000 transactions.

It is said High net worth and institutional investor participation was noted in Commercial Bank, Access Engineering and Sampath Bank. Mixed interest was observed in Expolanka Holdings, Commercial Leasing & Finance and LOLC Holdings, while retail interest was noted in Browns Investments, LOLC Finance and SMB Leasing. During the day Expolanka, which experienced heavy buying interest, contributed 67 points to the All- Share Price Index, while LOLC Finance contributed 54 points.

Yesterday, the US dollar was quoted at Rs 201.05, which was the controlled price of the Central Bank. The actual rate in the floating market would be more than Rs 250 per dollar. However, Sri Lanka’s rupee has sharply appreciated to Rs 2.36 to the Russian ruble from Rs 2.66 earlier in the week.



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People’s Bank drives push towards cash-lite economy

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Marking a significant milestone in Sri Lanka’s digital transformation journey, the National QR Payment Adoption Programme was recently launched with the objective of accelerating the country’s transition towards a cash-lite economy. The initiative aims to reduce reliance on physical currency by promoting the widespread use of QR-based digital payments, enabling individuals and businesses to conduct fast, secure and convenient transactions via mobile devices, said a release from the People’s Bank.

It said: As a leader in digital banking, People’s Bank proudly aligns with this landmark national initiative, reinforcing its commitment to building a digitally empowered economy. The Bank supports the programme through its flagship digital wallet “People’s Pay”, which offers a seamless platform for QR-based transactions and a range of everyday financial services.

In line with the programme’s objectives, customers can perform QR transactions without incurring additional charges, while merchants benefit from zero fees on transactions up to Rs. 5,000. To further encourage adoption, valuable gifts will be awarded to selected winners among LANKAQR users, enhancing engagement and promoting digital payment usage across the country.

People’s Bank’s participation reflects its ongoing digital transformation strategy, which has evolved beyond traditional online banking to deliver an integrated, lifestyle-oriented financial ecosystem. The Bank continues to set industry benchmarks by offering secure, efficient and user-friendly digital platforms, ensuring customers have uninterrupted access to banking services anytime, anywhere.

At the heart of this initiative is People’s Pay, a sophisticated digital wallet designed to streamline everyday financial transactions while catering to the evolving needs of the modern consumer. The application features a seamless self-registration process, comprehensive tri-language support, and secure storage of payment details, ensuring both convenience and security for users.

In addition, the People’s Pay app enables customers to make real-time bill payments and QR-based transactions with exceptional ease and efficiency. The facility to link multiple bank accounts further enhances flexibility and convenience, while the transaction limit provides users with greater financial control and improved security.

In a strategic move to bolster the national QR adoption program, the People’s Pay app now facilitates Peer-to-Peer (P2P) QR transfers. This functionality allows users to generate both static and dynamic QR codes, enabling efficient transactions without the need to disclose sensitive account information.

The National QR Payment Adoption Programme represents a critical step in advancing Sri Lanka’s digital payments landscape. By fostering fast, secure and transparent transaction methods, the initiative aims to ensure inclusive participation in the digital economy, empowering citizens across all regions and communities.

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ANC Campus and Adelaide University launch new Australian study pathway for Lankan students

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ANC Campus has announced the launch of a formal articulation partnership with Adelaide University at Cinnamon Lakeside, Colombo, creating a clear progression pathway for Sri Lankan students seeking an Australian university degree.

Through this pathway, students can begin their university-level studies at ANC Campus in Sri Lanka before progressing to Adelaide University in Australia, subject to the relevant academic, English language, and entry requirements. By completing the first year through ANC’s Australian Diploma pathway in Sri Lanka, students can significantly reduce the overall cost of their Australian education journey, with estimated first-year savings of up to LKR 13 million when tuition and living expenses are considered.

The launch was attended by representatives of ANC Campus, Adelaide University, and the Australian Trade and Investment Commission (Austrade), alongside members of the media, students, parents, and invited guests. Austrade’s presence highlighted the continued importance of Australia-Sri Lanka education links.

Speaking at the launch, Dayan D. L. Fernando, Chief Executive Officer of ANC Campus, said the partnership gives Sri Lankan students a credible and well-supported route into Australian higher education.

“For over two decades, ANC has worked with international university partners to help Sri Lankan students begin their global education journey with the right academic preparation and guidance. This partnership with Adelaide University gives students a clearer route to an Australian degree and gives parents greater confidence in the pathway their children are choosing,” he said.

Fernando added that international education is one of the most important decisions a family makes, and proper guidance is essential.

“At ANC, our responsibility is to guide students correctly. We must help them understand the pathway, the requirements, the destination, and the opportunities ahead. ANC prepares students for the highest likelihood of success.

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Union Assurance honours new batch of certified financial advisers

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Union Assurance PLC, Sri Lanka’s longest-standing private Life Insurer, recently hosted the SLIM Certified Financial Adviser Graduation Ceremony at its Head Office premises, recognising 38 professionals who successfully completed the programme, a milestone that reflects the company’s focus on building a highly capable and accredited sales force.

The Certified Financial Adviser programme, delivered in partnership with the Sri Lanka Institute of Marketing (SLIM), the National Body of Marketing in Sri Lanka, which was designed to elevate the expertise of the company’s high performing adviser force. Spanning 11 comprehensive modules covering areas such as Advanced Consultative Selling Skills, Negotiation Mastery, Digital Prospecting Techniques, and Emotional Resilience in Sales, participants underwent a rigorous learning journey that concluded with a formal assignment, bringing the full cohort to completion.

The programme reflects Union Assurance’s commitment to ensuring its advisers are positioned to serve customers with confidence, credibility, and genuine understanding of their needs; values that are central to the company’s purpose of protecting what matters most. The SLIM qualification also opens a structured educational pathway for graduates, with opportunities to advance through further nationally recognised certifications.

Speaking at the ceremony, Chief Agency Officer at Union Assurance, Imtiyaz Aniff stated: “We are pleased to recognise the dedication of our people who committed to this programme alongside their core responsibilities. The SLIM certification equips our advisers with the skills and credentials to serve our customers at a higher standard, and that directly supports the quality of advice we deliver. We look forward to seeing this cohort carry forward what they have learned and continue to grow in their careers.”

Union Assurance is a subsidiary of John Keells Holdings PLC (JKH), the largest conglomerate listed on the Colombo Stock Exchange, operating with over 80 companies in 7 diverse industry sectors. The Company has completed nearly four decades of success with a Market Capitalisation of Rs. 45.6 Bn and a Life Fund of Rs. 92.8 Bn as of end December 2025. Set to protect lives and enrich the well-being of all Sri Lankans, Union Assurance offers Life Insurance solutions that cover the health, investment, protection, retirement and education needs of Sri Lankans. With an island-wide branch network and a workforce that is over 3000-strong, Union Assurance continues to invest in people, products and processes with a customer-centric focus to be responsive to emerging changes in the Life Insurance industry.

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