May 5 (FT) The proposed increase in Value Added Tax (VAT) on financial services to 20.5% will have no material impact on sector profitability as it is offset by the removal of the 2.5% Social Security Contribution Levy (SSCL), First Capital Research said. In a flash note on the Value Added Tax (Amd) Bill issued on 29 April 2026, First Capital Research said the shift effectively replaces the existing dual levy structure of 18% VAT and 2.5% SSCL with a single VAT applied on value addition. more..

May 5 (FT) Private taxi service providers at Bandaranaike International Airport (BIA) are facing tremendous financial constraints due to the low arrival of tourists and what they describe as unethical competition from other operators. Operators pointed out that they have been operating at the airport for over two decades, providing services to both local and international passengers. On top of this, they have to pay a hefty rental of over Rs. 4 million to the airport authority every month. more..

May 5 (FT) In a special update to its economic forecasts, the Asian Development Bank (ADB) has significantly downgraded its economic growth outlook and raised inflation projections for developing Asia and the Pacific as more severe and prolonged disruptions from the conflict in the Middle East continue to raise energy prices, tighten financial conditions, and weigh on economic activity across the region. ADB President Masato Kanda said: “Our revised outlook is a significant downward more..

May 5 (FT) China overtook India to become SL’s largest trading partner in 2025, driven by a sharp rise in imports, particularly vehicles, following the easing of restrictions, the CBSL said. CBSL said total trade with China reached about $ 5.5 billion, narrowly surpassing India at $ 5.4 billion, reversing India’s lead held from 2021 to 2024. US remained the third largest partner at $ 3.5 billion, with the three accounting for 41.1% of total merchandise trade. more..

May 5 (Island) JVP-NPP govt turned its recent May Day rallies into a propaganda counteroffensive against the Opposition, which has effectively targeted its good governance credentials. Ruling party leaders, including Prez AKD, went ballistic, condemning their rivals as utterly corrupt politicians. Claiming that 2026 would be remembered as the year when the corrupt and thieves were sent to jail, Prez said 15 high-profile cases would come up in the current month itself. more..

May 5 (Island) The appointment of former minister Eran Wickremaratne to chair the Sri Lanka Cricket Transformation Committee is significant for more than the future of cricket. It signals a possible shift in the culture of governance even as it offers SL cricket a fighting possibility to get out of the doldrums of failure. There have been glorious patches for the national cricket team since the epochal 1996 World Cup triumph. But these patches of brightness have been few and far between and more..

May 5 (DN) We tend to oversee minor differences. We fail to see the distinction between a line of letters with a dot and one without it. It is mindfulness that helps us stay focused on whatever we do. When we are mindful, we can spot even the smallest detail (like that single dot). But what if that tiny dot could cost us our entire life savings? What if such a small difference could wipe out all our wealth? This is the world we live in today, and only mindfulness can keep us safe. more..

May 5 (TM) Across SL, a quiet crisis is unfolding in classrooms. While girls steadily advance academically, boys are increasingly absent, disengaged, and disconnected from formal schooling. They are not merely skipping classes — they are retreating into digital worlds, nocturnal routines, and informal learning spaces, leaving behind the structured education system that once shaped the nation’s youth. What drives this growing disengagement? Is it changing family expectations, rigid school structures, more..

May 5 (TM) In the wake of multiple energy crises and controversies, the recently unbundled State-owned CEB, in its new iteration, says it is planning to move towards a transformation where generation, storage, and distribution of electricity within the island will be restructured. This, while the paying customers of the utility supplier remain uncertain if another tariff hike will be thrust upon them – the cost of negligence and poor policy – as the State scrambles to more..

May 5 (ST) Confusion is the art of politics, if not diplomacy, according to Trumpean manoeuvres. Only two months ago I started getting accustomed to associating the NPP govt with non-alignment. After all, SL (then Ceylon) had associated itself with that strong, evolving Third World movement. That was no surprise, as Sirima Bandaranaike led SL, following in the steps of SWRD Bandaranaike, who was assassinated at the height of his political career as a Third-World leader of the times more..

May 5 (TM) SL stands at a decisive moment in its public health journey. Nearly 80 million people die globally each year due to tobacco use, with the vast majority linked directly to smoking and a further share caused by passive exposure. Within our own borders, the annual death toll attributed to tobacco and alcohol is estimated at close to 22,000. Behind these numbers is a healthcare system under relentless strain. It is in this context that the proposal for a tobacco-free generation more..

May 5 (CT) During the official visit of Indian Vice President C.P. Radhakrishnan from 19–20 April, a key announcement was made to extend Overseas Citizenship of India (OCI) eligibility to the fifth and sixth generations of Sri Lankans of Indian origin, particularly benefiting the Malaiyaga Tamil community. WE met with the Deputy High Commissioner of India to SL, Dr. Satyanjal Pandey, to explain OCI scheme for Tamils of Indian origin, outlining who can benefit from it. more..

May 5 (CT) During the month of April, the Strait of Hormuz continued to face the double blockade of both the US and Iran. The word ceasefire in West Asian wars has lost its meaning as Israel continues to pound Iran’s proxies in Southern Lebanon. The war has triggered an energy crisis in most of Asia, particularly India, China and Japan. This is more so in the case of import-dependent small nations like SL and the Maldives, already struggling with economic recovery in the post-Covid period. more..

May 5 (GV) The May Day rally organised by the NPP has once again demonstrated its ability to mobilise large segments of the public. However, beyond the optics of crowd size and political enthusiasm lies a deeper and more critical question. Has the NPP transitioned from a protest-driven movement into a credible governing alternative or is it gradually losing clarity on its foundational promises? This question is not merely academic; it reflects the growing expectations of a public that is no longer satisfied with more..

May 4 (AD) President Anura Kumara Dissanayake expressed his gratitude to the President of the Maldives, Mohamed Muizzu, for undertaking the official visit to Sri Lanka, noting that it was in response to an invitation extended during his own visit to the Maldives in 2025. During the discussions, the President also conveyed appreciation to the Maldivian Government for the humanitarian assistance and support provided during the recent disaster period in Sri Lanka. more..

May 4 (NW) Work on Sri Lanka’s first Metro Bus depot officially commenced today in Kadawatha, marking a major step in the country’s urban transport modernization drive. The depot, located near the Lanka Transport Board (LTB) facility on the Kadawatha–Ganemulla main road, is being built at a cost of Rs. 102 million and is scheduled for completion by July 30, 2026. The project is funded by the govt under the Ministry of Transport, Highways and Urban Development. more..

May 4 (DM) Polish govt is contemplating lodging a complaint with the EU over an allegedly fraudulent e-passport personalization tender procedure by the SL govt after the Polish Security Printing Works (PWPW) and six other int'l bidders were rejected without any credible explanations. Tender bid for the issuance of personalized e-passports to the Dept of Immigration and Emigration of SL was published by more..

May 4 (TM) Ministries of Agriculture and Plantation Industries are preparing to lift the ban on oil palm cultivation, following a Cabinet decision that has been submitted for approval. Deputy Minister Namal Karunaratne said that specific conditions have been identified when selecting land for cultivation, and that only a limited extent of land will be used. “While protecting water sources, we will also take steps to minimise environmental damage. Considering the economic value, we have to take this step. more..

May 4 (TM) The almost 25-year-old India-SL FTA is in need of an upgrade that would make it comparatively similar to India’s more recent other strategic FTAs, Indian high commissioner to SL Santosh Jha said recently (2), speaking at the Wion’s Global Innovation and Leadership Summit held in Colombo. “For more than a decade, SL has enjoyed a trade surplus with India. If you just calculate only FTA enabled trade, the trajectory of SL exports to India is also growing steadily. more..

May 4 (NF) Seven MoUs covering multiple sectors were exchanged between Sri Lanka and the Maldives today at the President’s Office in Colombo, in the presence of SL Prez Anura Kumara Dissanayake and Maldivian Prez Dr. Mohamed Muizzu. Marking a new chapter in SL-Maldives relations, the agreements focus on strengthening cooperation in the fields of health, sports, tourism, education and defence. more..

May 4 (NW) SriLankan Airlines is continuing to operate without permanent leadership in its top two positions, raising concerns over governance and strategic direction at a time of heightened global uncertainty driven by the Middle East crisis. The state-owned carrier has been without a confirmed full-time Chairman and CEO, with interim arrangements in place instead of long-term appointments. The Govt has yet to take a decision on the Chairman position following more..

May 4 (CT) Fort Magistrate Isuru Neththikumara, last week (29 April), ordered the CID to re-name former Navy Commander and Chief of Defence Staff Ravindra Wijegunaratne as the second suspect in the case concerning the abduction and disappearance of eleven Tamil youths in Colombo and its surrounding areas, stating that advising the release of a suspect despite the existence of sufficient evidence to indict him constitutes a miscarriage of justice. In the case filed on more..

May 4 (NW) The President of the Socialist Republic of Vietnam and the General Secretary of the Communist Party of Vietnam, Tô Lâm, will undertake a State Visit to Sri Lanka from 07-08 May 2026. According to SL’s Ministry of Foreign Affairs, the visit takes place at the invitation of Prez Anura Kumara Disanayaka following his State Visit to Vietnam in 2025 to commemorate the 55th anniversary of the establishment of diplomatic relations between Sri Lanka and Vietnam. more..

May 4 (EN) Tourist arrivals into SL fell 24.8% in April 2026, official data showed, as continued conflict in West Asia and higher fuel prices took a toll on SL's visitor numbers. Total arrivals dropped to 135,643 from 174,608 in the same time last year. India (42,645), China (10,544) and UK (10,425) remained the top sources of visitors to SL. There were 8,247 visitors from Israel from Jan 1 to April 30. SL has set an ambitious target of 3 mil arrivals for 2026, after missing the goal last year. more..

May 4 (TM) Dept of Meteorology has announced that the country is expected to experience developing El Niño conditions during the upcoming southwest monsoon season, which spans from May to September. Dept Director General Athula Karunanayake explained that these conditions are likely to influence the monsoon, leading to a reduction in rainfall and changes in wind patterns after May 15. more..

May 4 (Island) In line with the 2026 Vesak Poya Day, the Swarnabhivandana 2026 Sacred Relic Veneration ceremony, organized by the Sri Sudarshanarama Temple, Kiribathgoda under the guidance of the Chief incumbent of the temple, and the Head of the Department of Pali and Buddhist Studies at the University of Ruhuna and a Senior Lecturer Ven. Makola Mangala Nayaka was held on 3rd of May with the participation of Prime Minister Dr. Harini Amarasuriya. more..

May 4 (CT) National Dengue Control Unit of Ministry of Health has reported a concerning surge in Dengue cases, with 25,082 cases recorded within a short span since January this year. Community Medical Specialist Dr Prashila Samaraweera has identified several regions as primary hotspots in the Western Province, which are vulnerable to the breed Aedes Aegypti mosquitoes. A significant number of Dengue cases have also been identified in the Southern Province, especially Matara and more..

May 4 (CT) The recent report issued by the National Audit Office has unveiled a staggering inefficiency in SL’s industrial land management, revealing that a total of 2,618.8 acres of land owned by Board of Investment (BOI) currently remain dormant. This vast expanse of latent land is divided into two distinct categories: 1,833.69 acres situated within 13 established BOI zones and industrial parks, and an additional 785.11 acres of more..

May 4 (DM) SriLankan Airlines has secured two major accolades in the South Asia category at the PAX International Readership Awards 2026 held recently in Hamburg, Germany. The airline was recognised for Best Overall Passenger Experience and Most Improved Airline, with winners selected through votes cast by PAX’s global readership. The Best Overall Passenger Experience award acknowledges airlines that deliver exceptional onboard services across key areas such as more..

May 4 (TG) On International Workers’ Day (1), residents of Keppapilavu in Mullaitivu staged a renewed protest demanding the release of lands that remain under SL military occupation, nearly two decades after the end of the armed conflict. The demonstrators, comprising Tamil families from the area, reiterated their longstanding demand for the return of lands seized by the SL military in 2009 to establish a large-scale camp. For over 17 years, Keppapilavu residents have sustained more..

May 4 (FT) The Sri Lanka–Nepal Business Council (SLNBC) was launched at Cinnamon Lakeside Hotel yesterday, marking a significant milestone in strengthening economic cooperation between Sri Lanka and Nepal. The SLNBC envisions becoming a catalyst for sustainable trade and investment across the Nepal–SL corridor. The council aims to unlock existing and future business opportunities through strong public-private partnerships (PPPs), fostering shared prosperity between the two nations. more..