May 18 (FT) Colombo stock market ended the shortened-trading week on a bullish note with improved turnover on the back of return of investor optimism. During the week, ASPI gained by 2.9% and the active S&P SL20 by 3.5%. Average daily turnover was Rs. 3.67 billion. In contrast, the indices gained by only 0.4% last week with turnover averaging Rs. 2 billion. On Friday, ASPI gained by 0.4% and the S&P SL20 by 0.5%. Turnover was Rs. 3.11 billion involving 153.8 million shares. more..

May 18 (SO) Amendments to electricity tariffs will be carried out in a cost reflective way and not in a manner that will burden the masses as projected by those seeking to gain political mileage and fulfill their personal and political agendas, said a senior official of the Energy Ministry. Responding to media reports that there would be an electricity tariff hike in the range of 25% to 35% he said, no decision has been made with the figure as yet. According to certain media reports more..

May 18 (ST) The Govt, acting on an IMF recommendation, is planning to cut massive tax breaks and duty exemptions for strategic development projects including the Colombo Port City. Strategic Development Project Act (SDPA) passed in parliament in 2008, provides tax incentives for large projects deemed strategic. Colombo Port City projects are included under this Act. However the Finance Ministry now plans to limit the duration of tax holidays granted under more..

May 18 (TM) CEB has submitted a tariff revision proposal to the PUCSL, seeking an 18.3% increase in electricity tariffs for the last seven months of this year. This significant hike is aimed at addressing a forecasted revenue shortfall of Rs. 42.2 billion, equivalent to 18.3% of the total estimated revenue for this period. As stated by the CEB, the shortfall is driven by rising operational costs, legacy debt, and regulatory challenges, more..

May 18 (ST) Dept of Immigration and Emigration is struggling with a backlog of more than 3,000 dual citizenship applications piled up over the past few months, with some papers submitted more than seven months ago remaining unattended. At least 1,000 of these applications have got the all clear from the relevant authorities, including clearance from the Police and the State Intelligence Service (SIS), but the applications have stalled at the department level, the Sunday Times learns. more..

May 18 (ST) The 16th National War Heroes Commemoration Ceremony will be held on Monday (19) at the National War Hero Cenotaph in Sri J'pura, Kotte, from 4 pm to 6 pm. A series of island-wide community welfare programmes will also be carried out by armed forces, Police and Civil Security Dept in view of the War Hero Commemorations. Deputy Minister of Defence Major General Aruna Jayasekara (Retd) is expected to represent Prez Anura Kumara at the event. more..

May 18 (ST) While the local council elections are over, the tussle over who will form the administration of more than 150 councils where no party or group has an outright majority continues, with no clear picture yet on who will ultimately triumph. Opposition parties have been exploring how they can support each other to form administrations in local councils where the combined number of opposition members is greater than more..

May 19 (DM) Restructuring is often a top down process. The Board of Directors may want to restructure a company by laying off workers. A Govt may decide to restructure State Owned Enterprises (SOEs) by privatising them. The IMF may demand that a country restructure its debt by imposing austerity measures. Furthermore, such painful measures are justified as necessary for integration with better institutional and economic structures. But what if the problem lies with powerful actors more..

May 19 (CT) At last, the long-awaited LG Elections, which former Prez Ranil Wickremesinghe and before him the Rajapaksa Govt avoided for fear of exposing their growing unpopularity among voters, have proved that the seven months old NPP govt, amidst all negative propaganda and baseless accusations levelled by a dispirited and policy bankrupt opposition, continues to command respectable support all round the country. True, there has been a swing against NPP which is normal for more..

May 19 (CT) For years, Sri Lankans have helplessly witnessed a disturbing rise in fatal public transport accidents. The tragedies—caused by speeding, drunk driving, driver fatigue, roadside hazards, and sheer negligence—went largely unchecked. It was a cycle of ignorance and inaction. But the bottom line is the need for a proper outlook and plan executed to avoid such untimely deaths. The devastating crash of a SLTB bus more..

May 19 (CT) Among the most persistent threats to public health in SL today are mosquito-borne diseases, especially dengue and chikungunya. While the country has successfully eradicated malaria – a remarkable public health achievement that earned recognition from the WHO in 2016 – new challenges have emerged in the form of rapidly rising cases of other diseases carried by mosquitoes. These diseases, though preventable, continue to claim lives and cause suffering, largely due to more..

May 19 (Island) The police are investigating an incident where Thusitha Halloluwa, a top aide to former Prez Ranil Wickremesinghe, was attacked by two unidentified gunmen on Saturday night in Colombo. The attackers shot at his vehicle and assaulted him and a lawyer travelling with him before making off with a file containing some vital documents, the victim has said. No breakthrough had been made in the police probe at the time of going to press. more..

May 19 (SO) The armed conflict which lasted for almost three decades between Govt Forces and LTTE was known as the Eelam War. The conflict broke out in 1983 and concluded in 2009. Today, SL marks the 16th anniversary of this event. During this time span, the war was temporarily stopped thrice due to international pressure to engage in peace negotiations. Since the mid 1970s there was friction and hostility more..

May 19 (FT) The recent article published, 7 May in Daily FT, under the title Wind power: Essential element of renewable energy mix for Sri Lanka, shared by Mayura Botejue (a.k.a. ‘MB’), makes a passionate case for the primacy of wind in Sri Lanka’s renewable energy transition. While MB certainly raises some valid points in general however, on the other hand, his well-written piece clearly omits critical nuances required for a holistic understanding of not only SL’s energy but more..

May 19 (ST) In SL’s electoral history, the first signs of tension on the political horizon appear more often than not at the ground level when seemingly monolithic majorities crack with the fissures inevitably widening if left untreated, spreading out to the national level as the Centre collapses within itself. To put it in another way, as much as egoistic Colombo would like to think that it dictates the political story to lesser stars orbiting its core, the lesson is in the reverse. more..

May 19 (FT) Spa Ceylon, the world’s largest luxury Ayurveda chain, continued its success streak for global recognition by winning ‘Best New Personal Care Product’ at the prestigious Natural and Organic Beauty Innovation Awards 2025, held recently in the UK. Spa Ceylon won for its newly released ForestVeda Soothing and Calming Balm, with four other finalist entries at the Awards, which took place on the sidelines of the Natural and Organic Products Expo 2025. more..

May 19 (FT) As the global workforce evolves at an unprecedented pace, universities are under mounting pressure to align academic training with the realities of the modern job market, experts warned last week. Speaking at a panel discussion hosted by ESOFT Uni (ESU), industry leaders, educators, and academics spotlighted the growing disconnect between institutional instruction and employment needs-a gap that carries immense consequences for both economic progress more..

May 19 (CT) In recent weeks, SL has witnessed an unusual yet critical shortage of a basic household commodity: salt. Once considered an abundant and low-cost staple on kitchen shelves, salt is now at the centre of a national supply chain crisis, with prices skyrocketing and public frustration mounting. Behind this alarming situation lies a tale of bureaucratic delays, import mismanagement, inadequate market regulation and more..

May 19 (FT) Dialog Axiata has announced a $ 100 million investment to further strengthen Sri Lanka’s digital infrastructure. With cumulative investments now exceeding $ 3.37 billion, Dialog reaffirms its commitment to inclusive connectivity, superior service delivery, and advancing the nation’s digital future. The premier connectivity provider and a member of the Dialog Axiata Group, the entity is Sri Lanka’s largest Foreign Direct Investor (FDI) operating under the guidance of the BOI. more..

May 19 (AD) A total of 15.1% of Sri Lankans lost their jobs due to the impact of the economic crisis in 2023, according to the Department of Census & Statistics. The data from the Dept also indicated a higher percentage of males lost either their main and/or secondary jobs due to the economic crisis compared to females. Meanwhile, the Census Department highlighted that during this period, 60.5% of households in the country experienced a decrease in their monthly income. more..

May 19 (DN) Sri Lanka’s boxing team faced tough competition in the semifinals of the Asian Boxing Confederation (ASBC) U-22 Boxing Championships at the Sugathadasa Indoor Stadium in Colombo yesterday. Despite their brave efforts, the Sri Lankan boxers were unable to secure spots in the finals. However, their performances ensured that they walked away with an impressive six bronze medals, concluding the day with a total of 11 bronze medals in the tournament. more..

May 19 (DM) Colombo Stock Exchange (CSE) continued its bullish momentum, recording substantial volumes and turnover as the market closed above the 16,300 mark. The rally was primarily driven by positive developments in global trade relations-most notably, a deal between US and China on tariff restructuring, along with a new tariff agreement between the US and the UK. These agreements bolstered investor sentiment across global equity markets and are expected to more..

May 19 (DM) The govt and the opposition are in a race against time to rope in members to form administrations at the local authorities – MCs, UCs and PSs- where a single party has been unable to secure 50% or more of membership at the May 6th election. The local authorities’ election was conducted to elect members to 339 councils. The ruling NPP emerged as the largest party, leading in 267 local bodies. more..

May 19 (ST) Sri Lanka’s coconut industry is likely to face serious issues in 3-5 years’ time as a result of a drop in exports and a lack of high yielding trees and because the authorities are not concerned with taking the right policy decisions that will move the industry in the right direction, Chairman of the Executive Committee of the Ceylon Chamber of Coconut Industry and the Secretary of the Ceylon Desiccated Manufacturers Association Jason Samaranayaka said. more..

May 19 (ST) President Anura Kumara Dissanayake this week said he had information that drug traffickers funded local govt councillors who have been elected at this month's polls and asked Police to investigate the infiltration of organised criminal gangs into the political process. Addressing a meeting of senior officials from institutions, including Police Dept and AG's Dept, at the Presidential Secretariat, Prez said he was concerned over information he claimed to have received more..

May 19 (EN) SL’s overall budget deficit fell absolutely to Rs. 234 billion in the first quarter of 2025, down from Rs. 281.3 billion a year ago, but current spending outpaced revenue growth. Fiscal revenue went up 17% to Rs. 1,066 billion up to March 2025, and tax revenues went up 18% to Rs. 985.9 billion. Tax revenues expanded 18% to Rs. 985.9 billion. But current spending (without interest) went up 21% to Rs. 587 billion in Mar 2025 more..

May 19 (DM) Moody’s recent downgrade of the United States’ long-term credit ratings is sending ripples across global financial markets, prompting Colombo-based Lanka Rating Agency (LRA), to closely monitor the potential impact on SL’s substantial holdings of U.S. Treasuries. On May 16, 2025, Moody’s Investors Service lowered U.S.’ long-term issuer and senior unsecured ratings from the top-tier Aaa to Aa1. The outlook was simultaneously revised from negative to stable. more..

May 19 (Variety) As Sumitra Peries’ landmark 1978 debut Gehenu Lamai (The Girls) prepares for its restored world premiere at Cannes Classics, India’s Film Heritage Foundation has revealed the extraordinary technical challenges overcome during the film’s painstaking restoration process. The black and white classic returns to screens 47 years after its original release, following a complex reconstruction effort. Set in rural SL, the film, honored as the Outstanding Film of more..

May 19 (SO) Rarely does Sri Lanka’s fractious Parliament speak with a single voice, yet last week Cabinet Ministers, Marxists, Sinhala-Buddhist nationalists, Tamil lawmakers and Muslim party leaders, gathered in Colombo to mark the 77th anniversary of the Nakba, and to demand justice for Palestine. From pleas for an immediate ceasefire to calls for sanctions and humanitarian corridors, every speaker framed Gaza’s agony as an affront to Sri Lanka’s own anti-colonial ethos. more..

May 19 (TM) Govt yesterday backpaddled on plans to hold National War Heroes Commemoration Ceremony without the attendance of the Prez, who is the Commander-in-Chief of the armed forces. The key govt-calendar event held at the National War Hero Cenotaph in Sri J'pura Kotte, pays tribute to the brave men and women of the armed forces, Police, and Civil Security Dept who made the supreme sacrifice in defending the sovereignty & territorial integrity of the nation. more..

May 19 (TM) Public Utilities Commission of SL (PUCSL) is set to issue the consultation paper on the latest electricity tariff revision proposal submitted by CEB. Last week, CEB submitted its latest tariff proposal for the 2nd half of 2025 to PUCSL. PUCSL’s Director of Comm. Jayanat Herat said that the Commission would issue the consultation paper tomorrow, based on which public consultations more..

May 19 (FT) Purchasing Managers’ Indices in April have reflected the seasonal contraction in Manufacturing activities and an expansion in Services activities, though lower than in March. Following the seasonal pattern, Purchasing Managers’ Index for Manufacturing declined to 40.1 in April. The key sub-indices of Production, New Orders, Stock of Purchases, and Employment contracted during the month, resulting in an overall decline in the index compared to seasonal more..

May 19 (DM) A tense situation prevailed in Wellawatta this morning when a commemoration to mark the deaths of the Tamil civilians during the last phase of the war themed as the Mullivaikkal Commemoration was disturbed by a group of people. A group of civil society activists named May 18 Committee led by Aragalaya members conducted its third Mullivaikkal Commemoration on the beach along the Marine Drive in Wellawatta today (18). The activists were seen engaged in peaceful vigil more..

May 19 (FT) Attorney General (AG) Parinda Ranasinghe has appointed a four-member committee to study the Batalanda Commission report and assess the possibility of legal action based on its findings. The committee is chaired by Senior Additional Solicitor General Rohantha Abeysuriya. Its other members include Deputy Solicitor General Dileepa Peiris, Senior President’s Counsel Jayani Wegodapola, and President’s Counsel Shakthi Jagodaarachchi. more..

May 19 (FT) Former Prez Mahinda Rajapaksa has issued a special statement to mark the 16th anniversary since the defeat of LTTE terrorism that plagued SL for over three decades. Former Prez and Commander-in-Chief at the time Mahinda Rajapaksa in his statement stated that his only prayer is that even on a day he is no longer alive, the motherland of all Sri Lankans remains a free and sovereign State under one Lion Flag. The full statement by former Prez Mahinda Rajapaksa. more..