Deloitte Sri Lanka hosted CFO Conclave 2026: Leading in the Next Era on 3rd September 2026 at Courtyard by Marriott Colombo, bringing together Chief Financial Officers, senior finance leaders, Deloitte specialists and industry practitioners to share practical perspectives on fraud risk management, financial reporting developments and artificial intelligence (AI) in finance.

Welcoming participants, Thivanka Jayasinghe, Partner, Head – Audit & Assurance, Audit Leader, Deloitte Sri Lanka & Maldives, reflected on the need to consider market developments through the CFO lens. He noted, “The finance leaders of the future will convert insight into action, risk into resilience and innovation into sustainable value.”

The first session, led by Malinda Boyagoda, Partner – Audit and Assurance, Assurance Leader & Industry Leader for Financial Services, Deloitte Sri Lanka and Maldives, focused on corporate fraud risk management through the three pillars of prevention, detection and response. Drawing on the Association of Certified Fraud Examiners’ Occupational Fraud 2026: A Report to the Nations, he highlighted that organisations are estimated to lose around 5% of revenue to fraud annually, while 72% of cases in South Asia involved collusion. He also emphasised the importance of stronger controls, including surprise audits, management review, proactive data monitoring and whistleblowing mechanisms, to support earlier detection and reduce losses.

Malinda noted, “Fraud is becoming more digital, and fraud is becoming more sophisticated. Our defence mechanisms must therefore keep pace with these changes. The CFO sits at the epicentre of an organisation’s control and defence mechanisms.”

The discussion then moved to a panel discussion moderated by Thivanka Jayasinghe, comprising Punya De Silva, Former DIG/CID, Director NIB & Head of Interpol, Colombo, and Director/Consultant Investigations, BLACK Watchguard Security & Investigation (Private) Ltd.; Wolantan Karunaratne, Chief Inspector of Police (Rtd.), CID, Justice of the Peace/Whole Island, and Chief Investigating Officer, BLACK Watchguard Security & Investigation (Private) Ltd.; K. V. Karthik, Partner and Leader – Forensic & Financial Crime, Deloitte India, who joined virtually; and Muzawwir Manzeer, Partner, Audit & Assurance, Deloitte Sri Lanka.

The panel explored practical approaches to fraud prevention and detection, including background verification, behavioural warning signs, continuous monitoring and independent verification of sensitive transactions. It also examined AI-enabled risks such as deepfakes, synthetic identities and business email compromise, which are challenging traditional controls.

Within the discussion, Muzawwir Manzeer highlighted the evolving role of internal audit, explaining, “The Institute of Internal Auditors speaks about moving from hindsight to foresight. Previously, internal auditors were expected to identify what had gone wrong. Today, they are increasingly expected to consider what could go wrong.” He also emphasised the need for specialist skills to identify warning signs earlier.

Turning to financial reporting, Dulip Yapa, Partner – Audit & Assurance, Deloitte Sri Lanka, outlined developments relating to SLFRS 9, SLFRS 7 and SLFRS 17, together with upcoming requirements under SLFRS 18 – Presentation and Disclosures in Financial Statements and SLFRS 19 – Subsidiaries without Public Accountability: Disclosures. With SLFRS 18 and SLFRS 19 effective from 1st January 2027, he emphasised early preparation across finance teams and reporting processes.

The final session, The AI Powered CFO, was led by Mayura Malagala, Human Capital Consulting, Engineering AI & Data, and Growth Office Leader, Deloitte Sri Lanka & Maldives. He explored AI applications in forecasting, reconciliations, procurement, and decision support.

A live demonstration illustrated how natural-language queries can help finance leaders analyse performance and investigate variances quickly.

Mayura emphasised the opportunity to embed AI into operations rather than use it only for isolated tasks: “The real benefit of AI does not come from using it just for analysis and for running spot processes. You have to use it as an opportunity to recreate how your operation work and then embed AI into the core of the operation.”

CFO Conclave 2026 underscored an expanding mandate for finance leaders, who will need to strengthen resilience, anticipate risk, prepare for reporting change and use technology intelligently to turn insight into action.

The English Writers Collective of Sri Lanka (EWC) has launched Channels 2026, the latest edition of its annual anthology of short stories, poetry and essays by established and emerging Sri Lankan writers.

“The EWC has always championed the power of original storytelling. Our annual competition continues to uncover an incredible depth of raw talent across the island, and we are thrilled to reward these brilliant minds and offer them the wide readership they truly deserve,” Chairperson Keerthi Wijekulasuriya said.

Founded over three decades ago to foster, encourage, and provide a platform for creative writing in English, the EWC has served as a critical stepping stone for writers.

Through its annual publication – Channels, the collective continues to capture the diverse, evolving perspectives of Sri Lankan writers, bringing fresh talent to the forefront of the nation’s literary landscape.

The edition showcases remarkable creative talent discovered through the EWC’s annual creative writing competition.

This year’s panel of judges were, for Prose, Sakuntala Sachithanandan and M T L Ebell, and Nelani Goonawardena and Himangi Jayasundere judged the Poetry category.

Participants’ submissions were taken through a rigorous judging process, the initial phase that led to the long lists was done completely ‘blind’ with each judge scoring every submission separately based on agreed upon criteria.

Where relevant, the long-listed writers were then given feedback on how to improve or elevate their work, after which the short lists were determined, and the winners chosen.

The winners of the competition received cash prizes for their outstanding contributions.

First Prize for Prose went to Moh Afdhaal, while Sureshika Piyasena received the first prize in the Poetry category.

Venessa Andrea Nugara and Shawn Mark Ramoo were joint second place winners for Prose, while Maryam Ismath Hussain and Priyanka Holsinger took joint third place.

Second place for poetry was a tie between Sukanti Iyne Husain and Michelle Angelina, with Fathima Bushra Abdul Mannan in third place.

“You do not know, right now, which line you wrote, which poem you sent, which brave and slightly terrifying act of putting your private thoughts into a public envelope, is going to be the one that someone remembers twenty years from now. You do not know who is reading. You do not know whose life you are about to change, possibly including your own… This is what an organisation like the English Writers’ Collective does, and has done for a very long time now. It is easy, from the outside, to think of a writers’ collective as simply a magazine, a competition, a prize-giving morning like this one. But what it actually is, is infrastructure for courage…Channels has, for decades, been one of the few spaces where a very young writer and a very established one can appear on facing pages, as equals, because the only qualification for being there is that you wrote something true,” Chief Guest Vivimarie VanderPoorten said.

All of the winners, alongside the talented writers who made the prestigious short lists and long lists, have been proudly published within the pages of Channels 2026.

Co-editors Pia Hatch and Darika Ellawala shared their excitement for the new volume “Editing Channels 2026 has been a challenging and deeply inspiring journey. We are delighted to have been able to give so many new writers a chance to see their work in print, and are also proud of the members of the EWC who put their work through an intense peer review process to ensure that Channels represents our best work. This volume is an eclectic tapestry of voices, styles, and themes that reflects the true vitality of contemporary Sri Lankan writing”.

For avid readers and literary enthusiasts looking to secure a copy, Channels 2026 will be available for purchase at Perera Hussein Publishing House at the Colombo International Book Fair, at Vijitha Yapa Bookshop on 5th Lane, The Jam Fruit Tree Publications, and Kalaya in Pelawatte. (Colombo/Sep26/2026)

ECONOMYNEXT — Sri Lanka’s Colombo Stock Exchange closed down on Friday, CSE data showed, with the benchmark All Share Price Index moving down 0.14 percent.

The ASPI was down 29.54 points at 21,037.35, while the more liquid S&P SL20 was up 0.10 percent, or 5.70 points, at 5,948.48.

Market activity remained subdued throughout the session, with turnover dropping sharply.

“More than being down, the turnover is extremely low at around 800 million rupees,” Raynal Wickremeratne, Head of Research and Strategy at NDB Securities, said.

He noted that while small retail corrections took place following the recent sovereign credit rating upgrade, broader macroeconomic concerns continue to keep overall trading slow.

“A rating uptick was on the cards and expected, so while it gave retail a bit of a kick, there hasn’t been anything major beyond that,” Wickremeratne said, noting that crossings were recorded in NDB Bank during the day.

Positive contributors to the ASPI were SMB Finance (up 10.00 percent at 1.10 rupees), Ambeon Holdings (up 2.04 percent at 35.00 rupees), and Sampath Bank (up 0.53 percent at 141.00 rupees). LOLC Finance closed flat at 5.20 rupees.

Lion Brewery (Ceylon) (down 2.21 percent at 1,751.25 rupees), Ceylon Cold Stores (down 1.44 percent at 119.75 rupees), Dialog Axiata (down 0.64 percent at 46.40 rupees), and Commercial Bank of Ceylon (down 0.24 percent at 204.00 rupees) were top negative contributors.

Market turnover was 814.88 million rupees. The banking sector led turnover with 240.92 million rupees, followed by diversified financials with 179.77 million rupees.

In corporate news, renewable energy firm WindForce PLC announced that six of its project companies submitted winning bids under a government tender to develop 28 megawatts (MW) and 144 megawatt-hours (MWh) of battery energy storage systems (BESS), involving an estimated equity investment of approximately 944 million rupees. (Colombo/Sep25/2026)

ECONOMYNEXT — Six project companies of renewable energy firm WindForce PLC have submitted winning bids to develop 28 megawatts (MW) and 144 megawatt-hours (MWh) of battery energy storage systems (BESS), the company said in a regulatory filing.

The estimated equity investment for WindForce across these energy storage projects is approximately 944 million rupees.

The bids were placed under a tender for the establishment of 150 MW / 600 MWh Battery Energy Storage Systems integrated with existing ground-mounted solar power plants. The projects will be built on a Build, Own, and Operate (BOO) model for a 15-year operational period.

“While the formal award of the projects is still pending, the Board of Directors considers this development to be price-sensitive information, given its relevance to the Company’s future operations, potential project portfolio expansion and long-term financial outlook,” WindForce said.

The company confirmed that the bid prices submitted by its project firms fell within the winning bid threshold.

The six participating units include Diya Janani (Pvt) Ltd, in which WindForce holds a 100 percent stake with a project capacity of 3.75 MW / 18.75 MWh; Kebitigollewa Solar Power (Pvt) Ltd, where it holds 88.50 percent (4.90 MW / 25.00 MWh); and Vydexa (Pvt) Ltd, in which it owns 76.13 percent (4.90 MW / 25.00 MWh).

The remaining capacity belongs to Solar Universe (Pvt) Ltd, Sooryashakthi (Pvt) Ltd, and Solar One Ceylon (Pvt) Ltd, each 50 percent owned by WindForce and each holding 4.90 MW / 25.00 MWh. Together, the projects total 28.25 MW and 143.75 MWh.

“This announcement contains forward-looking statements based on the current bidding outcome. These are subject to the final awarding process, regulatory approvals and execution of the relevant agreements,” the company said.

WindForce stated that it will make further disclosures to the market once formal contract awards are received, relevant agreements are signed, or any other material developments occur. (Colombo/Sept25/2026)

ECONOMYNEXT – Vietjet will offer complimentary Wi-Fi for passengers on all Vietjet-branded flights, including Colombo-Ho Chi Minh City route.

Vietjet, together with its group companies Galaxy Holdings and Galaxy Telecom, signed a partnership agreement with Starlink, the satellite internet service engineered and operated by SpaceX, to provide passengers with free, high-speed Wi-Fi on Vietjet flights, during the working visit to the United States by Vietnam’s General Secretary and President To Lam.

The agreement was exchanged in the presence of Vietnam’s General Secretary and President To Lam, senior leaders and business representatives from both countries, marking a new milestone in aviation technology cooperation between Vietnam and the United States.

In the initial phase, Starlink will be installed on 120 Vietjet aircraft, including 100 Airbus A321 and Boeing 737 aircraft and 20 Airbus A330 aircraft.

Vietjet also plans to equip all future aircraft deliveries with high-speed internet, extending connectivity across its Vietnam domestic and international network, including the Colombo to Ho Chi Minh City service.

With high-speed, low-latency connectivity and coverage over oceans, polar regions and remote areas, Starlink will enable passengers to work, stay connected, stream entertainment and access online content throughout their journey.

Vietjet aims to make high-speed inflight Wi-Fi no longer a premium amenity, but an essential and widely accessible digital service for everyday air travel.

Dr. Nguyen Thi Phuong Thao, Vietjet Chairwoman, said: “With Starlink, time in the air no longer has to mean time offline. Vietjet passengers will be able to stay connected throughout their journey, whether working, staying entertained, or keeping in touch with family and friends. This reflects Vietjet’s longstanding commitment to innovation and our ambition to bring leading technologies closer to more people.”

“The introduction of Starlink on Vietjet will build on the fast, reliable service already connecting homes and businesses on the ground in Vietnam,” said Tim Hughes, Senior Vice President of Global Business and Government Affairs at SpaceX.

“We’re thrilled to deliver a connectivity experience to Vietjet and its customers, making every journey better, smoother and infinitely more enjoyable.”

The Starlink agreement marks the beginning of a long-term technology relationship between Vietjet and SpaceX.

Together with its modern fleet and continued investment in data, artificial intelligence and highly skilled talent, Vietjet is building a digital aviation ecosystem that keeps millions of passengers, including those flying to and from Sri Lanka, connected to the world throughout their journeys. (Colombo/Sep25/2026)

ECONOMYNEXT – Sri Lanka’s Pan Asia Banking Corporation PLC plans to raise up to 5 billion rupees through an issue of listed, rated, senior, unsecured, redeemable debentures.

An initial Issue of up to 20 million debentures will be offered at 100 rupees each.

The bank will issue a further 20 million debentures, in the event of an over subscription of the initial issue and another 10 million debentures if that tranche too is oversubscribed.

The issue offers two options: Type A debentures carry a 3-year tenor with a fixed interest rate of 12.75 percent per annum (Annual Effective Rate of 12.75 percent) payable annually, while Type B debentures carry a 5-year tenor with a fixed interest rate of 13.50 percent per annum (Annual Effective Rate of 13.50 percent) payable annually.

The subscription list opens on October 1, 2026.

Commercial Bank of Ceylon PLC’s Investment Banking Unit is the manager to the issue, and SSP Corporate Services (Private) Limited is the registrar to the issue.

Pan Asia Bank shares were trading at 52 rupees up 0.39 percent.  (Colombo/Sept25/2026)