In an era where climate change and environmental uncertainties pose significant risks, disaster risk reduction (DRR) has become a critical priority for businesses. 

Recognizing the urgency of proactive measures, Aitken Spence recently held its flagship DRR programme, emphasizing the importance of resilience-building mechanisms and strategic disaster response planning.

 The initiative aimed to address both natural and man-made hazards while fostering a culture of preparedness within the organization and beyond.

The intensification of climate emergencies underscores the necessity for businesses to integrate DRR into their corporate strategies. Aitken Spence’s latest event highlighted its commitment to mitigating risks and ensuring long-term sustainability. 

By bringing together experts, industry leaders, and key decision-makers, the programme served as a platform to share insights, discuss best practices, and reinforce the importance of collaboration in disaster preparedness and response.

A key highlight of the event was the presence of distinguished guests, including Mr. Firzan Hashim of the Asia Pacific Alliance for Disaster Management Sri Lanka, Ms. Anoja Seneviratne from the Disaster Management Centre, and Ms. Priyanka Dissanayake from the World Bank. 

The event commenced with opening remarks by Dr. Parakrama Dissanayake, Deputy Chairman and Managing Director of Aitken Spence PLC, followed by a keynote address from Mr. Firzan Hashim, setting the stage for insightful discussions.

A panel discussion on “Building Resilience and Fostering Collaboration” further enriched the session, featuring esteemed invitees alongside Aitken Spence’s Chairperson,

 Ms. Stasshani Jayawardena, and Group Chief Financial Officer, Ms. Nilanthi Sivapragasam. The panel explored practical approaches to risk mitigation, the role of the private sector in disaster preparedness, and the significance of cross-sector collaboration.

One of the most impactful moments of the programme was the launch of the Aitken Spence “Disaster Impact Map” on its official website. 

Designed as a public service initiative, this map provides valuable insights into Sri Lanka’s most common natural disasters, such as landslides, floods, tsunamis, and droughts. 

Additionally, it includes data on historical earthquakes, emphasizing the growing threats posed by climate change. By making this resource accessible to the public, Aitken Spence aims to promote informed decision-making and heightened awareness about environmental risks.

The event successfully fostered meaningful discussions and strengthened awareness among the company’s leadership regarding disaster risk reduction and strategic planning. 

By engaging its managing directors and key decision-makers in these critical conversations, Aitken Spence reaffirmed its dedication to integrating DRR into its overall business strategy.

 As a leader in corporate sustainability and resilience, Aitken Spence remains committed to taking proactive measures to reduce disaster risks. 

This programme serves as a benchmark for the private sector, demonstrating the power of strategic planning, collaboration, and technological innovation in safeguarding businesses and communities against future uncertainties.

Through continued efforts, Aitken Spence sets a precedent for responsible corporate action in disaster risk reduction, ensuring a safer and more resilient future for all.

The rainy condition is expected to enhance over Northern, North-central, Eastern, Uva, and Central provinces and in Hambantota district for the next few days from 24^th February.

Weather forecast for today (22):

Showers or thundershowers may occur at a few places in Galle, Matara, Kaluthara and Rathnapura districts in the evening or night.Mainly dry weather will prevail elsewhere over the island.

Misty conditions can be expected at some places in Western, Sabaragamuwa, Central, Uva and North-central provinces and Kurunegala district during the morning.

The general public is kindly requested to take adequate precautions to minimize damages caused by temporary localized strong winds and lightning during thundershowers.

The Ministry of Education has issued a circular outlining appropriate actions to be taken due to the prevailing high temperatures in Sri Lanka.

The circular, sent to all Provincial Secretaries and Education Directors, includes recommendations aimed at ensuring student safety during extreme weather conditions.

The ministry advises that students should avoid outdoor activities or prolonged exposure to high temperatures, citing potential risks such as heat cramps, heat strokes, and exhaustion.

Furthermore, authorities have been instructed to consider the high temperatures when planning sports meets and outdoor events, taking necessary precautions to safeguard students’ well-being.

President Anura Kumara Dissanayake has emphasized that Sri Lanka’s aspiration is to become a co-competitor among other nations, with digitalization playing a pivotal role in achieving this goal.

Speaking at the Innovation Island Summit in Colombo, the President highlighted the challenges Sri Lanka faces in the global economic race and underscored the importance of digitalization and innovation in elevating the country’s position.

“We are not a team that crossed the start line to run the race. Some have already run this race. We have to trail after them. Our attempt is to pace forward and become a co-competitor. We have not reached that position yet. We are facing an unfair race, and as a result, it has negatively impacted the Sri Lankan economy, community, and livelihoods,” he stated.

President Dissanayake invited international partners and investors to bring their businesses to Sri Lanka, assuring them of a positive environment for innovation, a strategic location, and a skilled workforce.

“Instead of a politically focused economy, we have a new government that focuses on the country’s priorities,” he said, reaffirming the administration’s commitment to fostering economic growth.

Encouraging local entrepreneurs, the President urged them to think beyond boundaries, take risks, and dream big.

“Dream big. Don’t be afraid to take the risk. Think beyond your boundaries. We are ready to support your idea from thought to end product,” he assured.

Gold Prices Approach $3,000 Amid Global Uncertainty

The spot gold price continues its record-breaking rally, edging closer to the psychological $3,000 mark as investors seek safe-haven assets. Market turbulence fueled by escalating tensions in the Ukraine-Russia conflict and tariff threats from U.S. President Donald Trump has driven strong demand for gold.

Analysts identify a support zone around $2,942 to $2,940, which may act as a temporary buffer before further movements.

WTI Crude Oil Rally Loses Momentum

The three-day bullish streak of WTI crude oil appears to have stalled due to an unexpected rise in U.S. crude inventories, suggesting a potential fourth consecutive week of stockpile growth. The supply glut has tempered upward momentum in prices.

For the rally to resume, WTI must break above the 55-day Simple Moving Average (SMA) at $72.36 and surpass Wednesday’s high of $72.87. If successful, prices could target last week’s peak of $73.64 and the 200-day SMA at $73.90. Meanwhile, strong support levels remain between $70.46 and $70.16.

Natural Gas Prices Hit Two-Year High

NYMEX natural gas futures surged past their January peak of 4,369, reaching a two-year high of 4,476 on Thursday. The sharp increase is attributed to extreme cold weather conditions, which have significantly boosted gas consumption while disrupting production, leading to supply constraints.

If bullish momentum continues, the next key resistance levels lie at 4,500 and the major psychological threshold of 5,000. However, should the market retrace, support may emerge near the January 24 high of 4,050.

Market analysts continue to monitor developments in global energy and commodity markets as geopolitical and economic factors drive price volatility.

The Sri Lankan government and India have reached an agreement to establish two solar power plants in Sampur, Trincomalee, with capacities of 50 MW (stage 1) and 70 MW (stage 2). The project will be developed as a joint venture between the Ceylon Electricity Board (CEB) and India’s National Thermal Power Corporation (NTPC) under a construction, ownership, and operation model.

The 50 MW solar power project will be implemented by Trincomalee Power Company Ltd, a partnership between CEB and NTPC, originally set up for the now-shelved coal power project in Sampur.

The Cabinet of Ministers has approved the proposal presented by the Minister of Power and Energy to proceed with the implementation of the project.