Feb 27 (FT) Following a record-breaking year for SL’s largest private sector retail bank, Hatton National Bank (HNB) CEO Damith Pallewatte has been named SL’s Bank CEO of the Year 2025 by the Global CEO Forum. The CEO of the Year Awards, which was hosted at Cinnamon Grand Colombo, recognises leadership excellence in the corporate sector across organisational performance, governance standards, and industry impact, and serves as a national platform that brings together senior business leaders more..

Feb 27 (EN) Fitch Ratings believes the Central Bank of SL’s (CBSL) reintroduction of a consolidation framework for the banking sector is broadly positive for sector credit profiles. Consolidation should strengthen franchises, create better-capitalised banks and support compliance with tightening single-borrower limits, particularly as higher post-merger capital can enable banks to take larger exposures within revised regulatory caps. Fitch expects the initiative to also support more..

Feb 27 (TM) SL’s inflation targets rely on the Household Income and Expenditure Survey (HIES) data from 2019, though SL’s spending patterns have weathered the economic impact of the Covid-19 pandemic and an economic crisis in 2022, CB Deputy Governor C. Amarasekara informed the COPF recently. “The country is relying on the 2019 basket of goods. There is no household income and expenditure survey conducted after 2019, we are relying on 2019 [data], which is pre-Covid-19, pre-crisis,” more..

Feb 27 (CT) Knuckles Spring Water bottled and marketed by CPC Lanka, a fully owned subsidiary of Cargills (Ceylon) PLC, has recently introduced Sri Lanka’s first tethered bottle cap to the market. Sourced from natural springs in SL’s central highlands and bottled at source, Knuckles Spring Water has long been recognised for its quality and purity. As another nature friendly initiative from KNUCKLES, to protect our planet, this introduction of the tethered cap marks a packaging innovation more..

Feb 27 (EN) Holders of defaulted SriLankan Airlines debt are to vote on March 18 on an exchange to govt bonds, which can lead to the completion of the process and an improvement in the country’s credit profile. “We are expecting within a short period of time, within weeks perhaps, we will be able to reach a good outcome with those creditors as well,” Treasury Secretary Harshana Suriyapperuma said. “It is a bona fide approach that we adopted and a constructive engagement that we had with our partners more..

Feb 27 (AD) Ministry of Environment has taken steps to call for a comprehensive report to investigate the fire that broke out at the Kerawalapitiya garbage dumping yard and its subsequent environmental impact. It has been observed that the fire, which erupted on Feb 25 at the waste disposal yard situated on reclaimed wetlands in the Kerawalapitiya area, has severely affected the local ecosystem and the lives of residents. Special attention is required regarding the accumulation of combustible gases, more..

Feb 27 (TM) The Land Ministry is yet to respond to concerns raised by the Divisional Secretaries (DSs) and Assistant DSs Association, which has requested the introduction of a formal mechanism to ensure that land-related matters are handled without political interference, the Association’s President R. Senthil said. He said the Association had written to the Ministry Secretary seeking clear procedures for DSs when dealing with land issues forwarded through political authorities. more..

Feb 27 (EN) Sri Lanka will add to gross domestic product by allowing digital nomads to live in the island engaging remote work through the island’s telecommunications infrastructure, Hans Wijayasuriya, advisor to the Prez, on the digital economy, said. SL issued the first one-year digital nomad visa to Darya Gordiyenko and her spouse Yaroslav Kovalchuk from Ukraine. “One of the key targets that we have is to increase the size of the digital industry from more..

Feb 27 (AD) The Colombo High Court has ordered the further hearing of evidence in the corruption case filed by the Bribery Commission against former Aviation Minister Priyankara Jayaratne to be called on March 24. The case was taken up today (27) before Colombo High Court Judge Ravindra Premaratne. After considering the facts presented, the judge ordered the issuance of summons for the first witness in the case to appear before the court and testify on March 24. more..

Feb 27 (EN) US Supreme Court struck down tariffs imposed under the International Emergency Economic Powers Act (IEEPA) on 20 Feb 2026, creating uncertainty about future US tariff policies. US has used IEEPA to impose reciprocal tariffs on trade partners and additional fentanyl-related trade measures for Canada, China, and Mexico since 2025. At the time of the Supreme Court ruling, SL’s reciprocal tariff rate was 20%. US administration quickly invoked Section 122 of the Trade Act of 1974 more..

Feb 27 (TM) A number of Sri Lankan private sector banks have progressed in discussions with multinational payments technology company Paypal, to enable the service for SL freelancers and small businesses, TRCSL Chairperson Waruna Sri Dhanapala said. “I spoke to a relevant official at the Central Bank involved in banking oversight and payments. Officially there is no such announcement made yet. However, there is progress made among certain private sector banks with Paypal,” more..

Feb 27 (AD) The Baddegama Magistrate’s Court has granted permission for the Galle Police Crime Division to detain and question for seven days the underworld figure Janith Madushanka, alias Podi Lassie, who was brought back to Sri Lanka this morning following his arrest in India. The order was issued by the Baddegama Magistrate after the suspect was produced before the court today by police officers who requested the court for a detention order to interrogate the accused. more..

Feb 27 (NW) Opposition Leader Sajith Premadasa says relief for communities affected by Cyclone Ditwah is far too important to be hindered by internal disputes. He urged the Govt to prioritize coordination and ensure uninterrupted support for families still waiting for aid. “Govt must work closely with officers on the ground to ensure coordination and uninterrupted support. When families are still waiting, how can we allow for this confusion? he asked, stressing that relief must not be delayed. more..

Feb 27 (FT) Dasun Shanaka did something rare in the aftermath of Sri Lanka’s T20 World Cup exit. He spoke the truth — unfiltered, uncomfortable, and personal. Cricket is beyond skills, he said, in effect, when he appealed for protection of his players from the wave of public negativity that followed. “It is about thoughts, feelings and belief.” He is right. And for that honesty, in a culture that rarely rewards it from sportspeople, he deserves genuine credit. more..

Feb 27 (FT) If the 20th century French philosopher Michel Foucault had been a modern SL politician, he might have skipped a schooling at Sorbonne, and tried his hand at stand-up – simply in order to essay his theses on power. Foucault (1926-84) was less interested in building a grand philosophical system than analysing how power operates through knowledge, institutions and everyday practices. His key philosophical contribution can be summed up as an inquiry into the relationship between power, more..

Feb 27 (TM) The Energy Ministry has confirmed that it will not reverse its recent decisions, despite a looming strike threatened by certain CEB unions. A Ministry official stated the institution has been attentive to all concerns raised thus far but is not in a position to halt its current trajectory. A media official from the Ministry indicated there are no plans to address the unions' requests following the announcement of the token strike yesterday. more..

Feb 27 (NW) Several trade unions representing government officers engaged in disaster relief operations have decided to withdraw from relief duties and launch a trade union action starting Friday (27), the unions said. The decision was announced in a joint statement issued by the All Ceylon Disaster Relief Services Trade Union, Technical Officers’ Trade Union, and associations representing Grama Niladhari (GN) Officers’ Trade Unions. The unions said more than 93 days more..

Feb 27 (FT) Govt has declared the Regulations to Repatriation of Export Proceeds into SL Rules No. 01 of 2026 through Extraordinary Gazette No. 2473/30, following Cabinet approval on Monday to present the regulations to Parliament for concurrence. The move aims to facilitate greater participation of exporters in local foreign-denominated investment instruments. On 13 Oct 2025, Cabinet approved issuing local loan instruments denominated in foreign exchange more..

Feb 27 (TM) Centre for Environmental Justice (CEJ) issued a warning that it will pursue immediate legal action against any Govt official or authority that attempts to proceed with the proposed Jaffna Int'l Cricket Stadium project, in defiance of environmental recommendations. They said the fate of the proposed Stadium on the Mandaitivu Island will be entirely determined by the findings of more..

Feb 27 (AD) Organized criminal and alleged drug trafficker Arumahandi Janith Madhusankha de Silva, alias Podi Lassie, has been brought back to SL from India by a special police team this morning. He had been arrested by Indian security authorities following a diplomatic engagement and with the intervention of Interpol. Podi Lassie, who allegedly fled to India by sea after being granted bail on Dec 9, 2024, was reportedly apprehended by security officials in Mumbai in January 2025. more..

Feb 27 (Island) Central Bank (CBSL) announced that investigations had identified 24 companies and applications operating prohibited pyramid schemes. In a public notice issued under Section 83C of the Banking Act, No. 30 of 1988 (as amended), the CBSL said the following entities had been ascertained and determined as prohibited schemes: Tiens Lanka Health Care (Pvt) Ltd, Best Life Int'l (Pvt) Ltd, Mark–Wo Int'l (Pvt) Ltd, V M L Int'l (Pvt) Ltd, Global Lifestyle Lanka (Pvt) Ltd, more..

Feb 27 (ST) Peradeniya Uni Vice Chancellor Terrance Mudajith reopened the Management Faculty’s newly refurbished computer lab after extensive damage caused by Cyclone Ditwah in November last year. The cyclone disrupted academic activities. The refurbished lab has been equipped with 100 computers and 85-inch smart boards donated by philanthropist Sujeewa Wickramanayake, proprietor of EW Enterprises of Suriyawewa. Vice Chancellor Mudajith opens more..

Feb 27 (FT) SL’s leading textile and apparel industry platform will return for its 15th edition from 5 to 7 March at the SL Exhibition and Convention Centre (SLECC), Colombo, bringing together global technology providers, manufacturers, exporters and sourcing specialists under one roof. Export Development Board (EDB) CEO Mangala Wijesinghe said the exhibition aligns with the EDB’s mission to drive export growth through strategic guidance, policy support and trade facilitation, more..

Feb 27 (FT) ACP Asset Management and its investment manager ACP Corum on Wednesday announced the launch of its SL Opportunity Fund, the first and only European-regulated Undertakings for Collective Investment in Transferable Securities (UCITS) fund dedicated to SL assets. Fund offers international investors a regulated and liquid investment portal into SL. The launch builds on ACP Corum’s earlier SL AMC strategy, which delivered returns of more..

Feb 27 (FT) Seylan Bank has reported its financial results for the year ended 31 Dec 2025, reporting a strong growth in profitability. The bank recorded a Profit Before Tax (PBT) of Rs. 19.6 billion, reflecting a 22.3% increase compared to Rs. 16 billion reported in the previous financial year. For the year under review, Profit After Tax (PAT) stood at Rs. 12.1 billion, a 20.5% growth over Rs. 10 billion recorded in the corresponding year of 2024. The reported PAT of Rs. 12.1 billion represents more..

Feb 27 (FT) Salam Ramadan, the grandest event in the SL Muslim Calendar, is set to take off in a big way this year from today to 1 March. The three-day event under the aegis of the Western Province Governor and the Colombo Municipality will be held at Green Path from 5 p.m. to midnight. As many as 125 stalls offering a great variety of products and services will be participating, including specialised stalls offering traditional Muslim food items and arts like Henna and calligraphy, more..

Feb 27 (Island) Former captain Marvan Atapattu has warned SL that muddled planning and last-minute tinkering will continue to leave them stumped on the world stage after another sobering exit from the T20 World Cup. The former champions crashed out of the Super Eight stage with a game to spare following three straight defeats, their meek loss to New Zealand on Wednesday a bitter pill to swallow in front of a packed house. Sri Lanka were second best from the toss to the post-mortem, more..

Feb 27 (CI) "I'm going to put it very simple: it's hurtful, it's painful and it's shameful," Farveez Maharoof, the former SL allrounder, said, pretty much summing up the mood among cricket fans in the island after their abject failure against New Zealand on Wednesday in Colombo. That it came after being bowled out for 95 by England and meant Sri Lanka's T20 World Cup 2026 was over just added to the sense of dejection. "It's not a pitch that you can play through the line, I get it. more..

Feb 27 (Island) A senior electrical engineers attached to the CEB have warned that unresolved structural and policy issues within the power sector could threaten the long-term stability of the national grid, urging authorities to act swiftly to address mounting technical and administrative concerns. They said the electricity network was operating under increasing strain due to delayed infrastructure upgrades, financial constraints, more..

Feb 27 (FT) Cabinet of Ministers this week approved the immediate renovation of a critical 2.2-km stretch of highway connecting the Kerawalapitiya Expressway access point to the Elakanda highway, a key route serving the industrial zone developed by the SL Land Development Corporation. The area, spanning around 400 acres, hosts major entities including Litro Gas, Ceylon Petroleum Cooperation, Ceylon Electricity Board, as well as several Board of Investment-approved projects. more..

Feb 27 (FT) Commercial Bank of Ceylon has achieved another performance milestone in 2025, becoming the first private sector bank in the country to expand its loan book beyond Rs. 2 trillion, with a growth of Rs. 541 billion over 12 months at a monthly average of over Rs. 45 billion, demonstrating its commitment to national economic resurgence. Recording the highest annual loan growth in absolute terms in the history of the institution, bank said gross loans and more..

Feb 27 (ST) Although the Registrar General’s Dept issues clear directives to state offices stating that birth, marriage and death registrations certified and issued by them do not become invalid after six months, some public authorities insist on a certificate that had been taken within the past six months. The former head of the Registrar General’s Dept, P S P Abeywardena, in June 2022, informed Controller General of more..