May 4 (FT) A Bill to amend the Value Added Tax (VAT) Act, No. 14 of 2002 proposes sweeping changes to SL’s indirect tax regime, widening the tax base, extending VAT to cross-border digital services, and strengthening enforcement, according to a May 2026 tax analysis by KPMG SL. Issued on 29 April, the Bill introduces revisions across registration thresholds, sector-specific provisions, administrative processes, and more..

May 4 (AD) The President of the Maldives, Dr. Mohamed Muizzu has arrived in Sri Lanka on an invitation extended by President Anura Kumara Dissanayake. He was accompanied by the First Lady, Sajidha Mohamed and a delegation of around 20 senior officials. The delegation arrived at the BIA, at 5:33 p.m. aboard SriLankan Airlines flight UL-116 from Malé. PM Dr. Harini Amarasuriya and a delegation were present at the airport to welcome the visiting President and his team. more..

May 4 (DM) The police have arrested at least 120 foreign nationals during a raid at a location on Meda Welikada Road in Rajagiriya. The group was taken into custody following reports of their involvement in large-scale illegal financial transactions and other illicit operations conducted within the country. The arrested suspects represent a diverse range of nationalities, including citizens from China, Vietnam, Malaysia, Madagascar, Philippines, Thailand, and Cambodia. more..

May 4 (FT) In seizing opportunities in a Look East strategy amidst tensions elsewhere, Japanese Ambassador Akio Isomata last week urged SL to walk the talk and not talk the talk. “The crux of the matter for SL exporters is seizing opportunities with action. We cannot afford to continue to talk the talk. We really need to walk the talk,” Ambassador Isomata told a forum titled Exports to Japan: Seizing the Opportunity more..

May 4 (ST) The government is set to form a 400-member cohort of digital transformation champions, to be known as the Public-Impact Champions Network (PIC-Net), comprising senior state officials to implement its ambitious digital transformation efforts. These champions, handpicked from 95 govt offices, including ministries, state-owned enterprises (SOEs), and provincial councils, will be recruited to establish PIC-Net and strengthen digital transformation across the public sector. more..

May 4 (DN) The building and land where the Mahindananda Foundation was located in Nawalapitiya was officially handed back to the Railways Department on Saturday by the Foundation’s Secretary Chamika Dharmathilaka. It was alleged that the land and premises which was on a lease for nearly 25 years, had been used by Mahindananda Aluthgamage for his political and other activities. The Railways Department had issued a written notice to the Foundation’s more..

May 4 (AD) The Free Lawyers Organisation has called for an investigation through the Committee on Public Accounts (COPA) into the alleged misappropriation of US$2.5 million from the Treasury. The request has been made in writing to COPA Chairman MP Kabir Hashim. The organisation stated that although a written complaint was previously submitted to the Speaker of House regarding the incident, no response has been received to date. more..

May 4 (AD) Former Prez Mahinda Rajapaksa has not received any official notice or communication from the CIABOC regarding the Airbus transaction, his media spokesman Attorney Manoj Gamage said. Issuing a statement, Attorney Gamage clarified that no formal notification has been issued by the Bribery Commission in relation to the matter. He further stated that recent remarks made by the incumbent President regarding anticipated court rulings amount to prejudging judicial decisions more..

May 4 (DM) SL activist Oshala Herath has released a series of screenshots purportedly showing WhatsApp exchanges between the Director of the State Intelligence Service (SIS) and the Defence Ministry Secretary, allegedly warning of a possible terrorist attack prior to April 21, 2019. According to the screenshots, the messages indicate that intelligence shared by a foreign counterpart had identified plans by Zahran Hashim and more..

May 4 (TM) Health & Mass Media Ministry Secretary Dr. Anil Jasinghe said that he was unable to comply at this stage with a request to conduct a psychological autopsy on Finance Ministry official Ranga Rajapaksa who allegedly died by suicide following suspension from service. He said that no further decision could be taken until the post-mortem report prepared by a four-member forensic panel is finalised. He stressed that there could be no question of bias, noting the examination had more..

May 4 (TM) The National Agrarian Unity has accused the Govt of causing a financial loss of US$ 250 million per agricultural season by purchasing fertiliser from Middle Eastern suppliers at higher prices, despite cheaper alternatives being available. The organisation’s President Anuradha Tennakoon said that SL has the option of sourcing urea from countries such as Kazakhstan at significantly lower rates. “We have learned from reliable sources that Kazakhstan is willing to supply fertiliser more..

May 4 (FT) Nations Trust Bank (NTB) announced that the transfer of Hongkong and Shanghai Banking Corporation’s (HSBC) Retail Banking business in SL to NTB has officially been completed, with the acquired portfolio transitioning to NTB effective 1 May 2026. NTB has integrated HSBC SL’s retail banking customers into its operations, ensuring continuity of service and relationship management. The transition also includes the onboarding of HSBC SL staff as part of the integration process. more..

May 4 (FT) Ceylon Petroleum Corporation (CPC) has come under scrutiny from fuel dealers, who have raised concerns over the reported Rs. 36.4 billion profit for 2025, as disclosed in the latest report of the Central Bank of SL (CBSL). Petroleum Dealers’ Association has alleged that the profit figure includes revenue generated through what it describes as unlawful deductions from dealer margins implemented during 2025. According to the Association, since the establishment of more..

May 4 (TM) Unloading of the first of five coal shipments under the emergency tender has commenced as part of a contingency strategy to ensure uninterrupted electricity generation, authorities said last week. This, as the Govt scrambles to secure stocks as deteriorating sea conditions are expected with the onset of the southwest monsoon. Although the Govt is confident that all shipments under the emergency coal more..

May 4 (AD) Food prices will not be increased despite yesterday’s fuel price revision, according to the Chairman of the All Ceylon Restaurant Owners Association, Harshana Rukshan. Chairman Harshana Rukshan said the increase in fuel prices, between Rs. 12 and Rs. 15, is too minimal to justify an increase in food prices. He also urged restaurant owners not to raise prices and called on the Consumer Affairs Authority to take action against establishments that charge excessive rates. more..

May 4 (Island) Sri Lanka’s newly appointed Cricket Interim Committee will pad up for its first outing on Wednesday and high on the agenda is a glaring void that has left purists fuming – the alarming lack of Test cricket. The numbers make for grim reading. Sri Lanka last took the field in whites in June 2025 and are not scheduled to do so again until June 2026, effectively leaving the longest format out in the cold for a full year. For a nation that once prided itself on producing artists in whites, more..

May 4 (FT) Sri Lanka Ports Authority (SLPA) has reported improved operating and profit performance for the year ended 31 Dec 2025, with group net Profit After Tax (PAT) rising 12.1% YoY to its highest of Rs. 42.8 billion, according to unaudited financial statements. Previous high was Rs. 42.3 billion in 2022. Group revenue increased 9.7% to Rs. 81.8 billion from Rs. 74.6 billion a year earlier. Gross profit rose 18.4% to Rs. 44.8 billion, while operating profit increased 20.2% to Rs. 55.2 billion. more..

May 4 (FT) National Development Bank (NDB) said it has posted a Profit After Tax (PAT) of Rs. 1.75 billion in the first quarter of 2026 after adjusting for the Rs. 13.2 billion fraud that has impacted the bank. In a statement, the bank said: “This financial results announcement represents the first following the bank’s earlier corporate disclosures as released to the Colombo Stock Exchange (CSE) on 2, 6 and 23 April 2026. The financial impact of the fraud, as internally estimated, more..

May 4 (FT) Sri Lanka’s current account surplus declined 43.9% year-on-year (YoY) to $ 531.5 million in the first quarter of 2026, as a widening trade deficit, up 122% from a year ago, and weaker services inflows weighed on the external account, despite support from higher workers’ remittances and a lower primary income deficit. The current account recorded a marginal surplus of $ 44.6 million in March, down 90.7% YoY, more..

May 4 (TM) A seven-member delegation led by Russian Federation Health Minister Mikhail Murashko arrived in Sri Lanka yesterday (3) on a three-day official visit. The delegation was received at the BIA by Science and Technology Minister Prof. Krishantha Abeysena, Russian Ambassador to Sri Lanka Levan Jagaryan, Health Ministry Secretary Dr. Anil Jasinghe, and Director (International Health) Dr. Anil Samaranayake. A brief discussion was held upon arrival. more..

May 4 (CT) With the implementation of revenue enhancement measures coupled with the revival of economic activities, govt revenue continued to record a significant increase in 2025, both in nominal terms and as a percentage of GDP, compared to the previous year, CB's 2025 Annual Economic Review released last Monday said. Accordingly, in nominal terms, govt revenue recorded a year -on-year growth of 35.2%, while in GDP terms, revenue increased steadily in recent years, more..

May 4 (SO) Sri Lanka and Bangladesh may soon receive full inbound PayPal functionality comparable to markets such as India, Singapore and US, sources close to PayPal India said. Users in SL and Bangladesh can typically make payments via PayPal, but receiving and withdrawing funds remain restricted or unavailable depending on account type and banking integration. Sources said both Govts are taking steps more..

May 4 (ST) The Avurudu Koha that came more than a fortnight ago seems to have laid a scandalous trove of eggs in the govt’s nest before fleeing from its cuckoldry. With a whole lot of cracking going on, take your pick on which one to concentrate on first, lest the bumper crop of fledglings – popping out of their shells at an alarming rate – distract your attention. With the backdrop already aflame with coal-fraud hellfires, the shock resignation of Energy Minister Kumara Jayakody gave rumour more..

May 4 (SO) The easiest part of reform is naming the villains, and the hardest part is fixing the systems that allowed them to thrive. The NPP successfully achieved the first. It is now being tested on the second. The party seems to have understood the task at hand. The NPP rallies showed that the Govt still has the energy and the organisational capacity of a serious cadre-based party. The NPP held 21 May Day rallies with hundreds of thousands joining them. During the two rallies he attended, more..

May 4 (DN) Regardless of their age, clergy members command respect, and many continue to follow their guidance. The cases of misconduct among clergy were relatively rare a few decades ago. On the contrary, the reputation of younger clergy is increasingly being tarnished by various incidents. As a society, we need to put a stop to this if we are to move forward with a strong sense of social ethics and public safety. The President held an emergency discussion with the Maha Sangha of the three more..

May 4 (Island) S.J.V. Chelvanayakam KC Memorial Lecture delivered on 26 April, at Jaffna Central College, by Professor G.L. Peiris, an academic with outstanding credentials, was published, under the title, Federalism and paths to constitutional reform, in The Island of. In Part II of the publication, titled Advocacy of Federalism: Origins and Context, Prof. Peiris states: “At the core of political convictions he held sacrosanct was his unremitting commitment to federalism…”. more..

May 4 (TM) As violence and misery spreads globally, one may question the effectiveness of non-aggressive gestures and passive initiatives of peace. The Ehipassiko Walk for Peace pilgrimage led by Venerable Bhikkhu Pannakara – followed by a group of monks from Texas, USA – brings a message of peace and raises awareness for non-violence. Its Sri Lanka leg was held from 21–28 April, with the iconic Aloka the Peace Dog more..

May 4 (CT) May 1st, internationally recognized as Workers’ Day, stands as a historic symbol of the struggles, sacrifices, and solidarity of the labour movement across the world. Its origins lie in the late 19th-century fight for the eight-hour working day, most notably linked to the Haymarket Affair in Chicago. From that defining moment, May Day spread across continents, becoming a day not merely of commemoration, but of collective strength—where workers unite to assert their rights, more..

May 4 (TM) The current reality in the Middle East has brought the front lines directly to our kitchen tables, in more ways than one. As the Strait of Hormuz remains effectively shuttered and the shadow of the 2026 regional war lengthens, Sri Lanka finds itself at a perilous crossroads. For a Nation still navigating the fragile waters of economic recovery, the disruption of the world’s most vital fertiliser artery is not just a logistical hurdle. It is an existential threat to our national food security. more..

May 4 (CT) Former Secretary to the Ministry of Energy Prof. Udayanga Hemapala, who stepped down over public outcry on the actions of the Ministry of Energy on coal and power purchase agreements, said, “I have mixed feelings about my tenure, as there were both positive and negative aspects.” He said, “On the positive side, we were able to award two wind power projects with a total capacity of 50 MW at very competitive more..

May 4 (Island) Rice farmers are in a paddy. They are complaining that they have been left without fertilisers for the current cultivation season. The govt has reportedly announced that it will not be able to meet the paddy farmers’ fertiliser requirements fully due to the current global supply disruptions. It has thus contradicted itself. Previously, it said there were adequate fertiliser stocks in the country, and there would be no shortages. It should not have given such an assurance more..

May 4 (GV) The arrest of 22 Buddhist monks with narcotics in their possession at the Katunayake Airport recently hit the headlines. Many referred to them as cheevara dharin, meaning people impersonating Buddhist monks or lay people in Buddhist robes. But they have not been charged with impersonating Buddhist monks; they were found to be monks from several temples in the country. The repeated use of what may be called an euphemism, cheevara dharin, wouldn’t more..