Feb 2 (DM) India-based prop-tech company Fracspace announced its strategic entry into the SL market this week with the unveiling of Altaira, a 26-acre ultra-premium hospitality and residential development in Bulathkohupitiya. Project, branded with the tagline Above the Clouds, represents a commitment of over Rs. 5 billion and marks the Hyderabad-headquartered firm’s first large-scale footprint in SL. The development is situated 1,100 metres above sea level more..

Feb 2 (FT) Total assets of the finance company sector rose 44% year-on-year (YoY) to Rs. 2.77 trillion as at end-December 2025, driven by a sharp expansion in lending, according to latest data released by the Central Bank of Sri Lanka (CBSL). Total loans increased 56% to Rs. 2.22 trillion during the year. On the funding side, sector deposits grew 19.8% to Rs. 1.26 trillion, while borrowings expanded by 178% to Rs. 849 billion. Equity capital rose 13.4% YoY to Rs. 62.8 billion. more..

Feb 2 (FT) John Keells Stock Brokers (JKSB) has tipped that ASPI will reach 28,000 this year. This forecast is contained in JKSB’s Equity Market Outlook 2026 released recently. The ASPI on Friday stood at 23,812 points. Noting that with the current administration quite convincingly sticking to the economic reforms that were necessitated by the current IMF program, JKSB said it is quite confident that 2026 should continue to see SL remain on a growth trajectory more..

Feb 2 (FT) The South Asia Regional Conference of the World Federation of Consuls (FICAC) will kick off today in Colombo, reaffirming SL’s role as a regional hub for diplomacy, trade, and tourism. The conference, which runs until 4 February at Cinnamon Life, brings together honorary consuls, senior diplomats, Govt officials, business leaders, and international stakeholders. Organised under the auspices of the FICAC, the global body supporting consular practice and int'l cooperation, more..

Feb 2 (FT) India has increased budgetary assistance to SL to INR 4 billion ($ 43.6 million) in its 2026-27 Budget, up from INR 3 billion ($ 32.7 million) in the revised estimates for 2025-26. According to the Notes on Demands for Grants of the External Affairs Ministry, actual Indian assistance to SL amounted to INR 3.17 billion ($ 34.6 million) in 2024-25, before being budgeted and revised at INR 3 billion in 2025-26. The 2026-27 allocation represents an increase of around 33% year-on-year. more..

Feb 2 (FT) Right to Information Commission (RTIC) has directed the External Affairs Ministry to release a $ 54.8 million loan agreement between Govt of SL and China Development Bank (CDB), ruling that the public interest in disclosure outweighs claims of confidentiality linked to the debt restructuring process. In a decision dated 28 January, the Commission ordered the release of the loan agreement relating to the Katana Water Supply Project, signed on 21 Aug 2017 more..

Feb 2 (FT) The SL Economic Association (SLEA) is set to host its Annual International Conference on 6-7 Feb. This landmark event, themed Tansforming the Services Sector for Economic Revival in SL, comes at a critical juncture as the country moves beyond stabilisation towards a phase of long-term structural transformation. The inauguration of the conference will take place at 4 p.m. on 6 February at BMICH, Colombo. PM Harini Amarasuriya will grace the occasion as the Chief Guest, more..

Feb 2 (FT) HNB PLC recently backed the TiECON Sri Lanka 2026 as its Platinum Sponsor, reinforcing its commitment to supporting Sri Lankan entrepreneurs as they scale beyond local market entry and compete internationally. Through this partnership, HNB backed a summit designed to drive practical, execution-led conversations between founders, investors, mentors, and industry leaders. Hosted at Cinnamon Life, Colombo, TiECON SL 2026 convened the ecosystem under the theme more..

Feb 2 (FT) Visa, a global leader in digital payments, together with National Development Bank PLC (NDB Bank), has launched Card Present Connect (CPC), an in-person digital payment acceptance solution powered by Cybersource, Visa’s open payment platform that supports both online and offline transactions. As one of the leading global payment gateways within Visa Acceptance Solutions for businesses, Cybersource delivers secure payment processing that covers international card schemes. more..

Feb 2 (FT) PMF Finance PLC has reported a significant improvement in its financial performance for the nine months ended 31 December 2025, underscoring the company’s resilience and growth momentum in a challenging economic environment. The company recorded a gross income of Rs. 3.84 billion, reflecting a 24% increase compared to the same period last year. Net interest income surged by nearly 47% to Rs. 2.17 billion, driven by strong loan growth and improved margins. more..

Feb 2 (CI) Tom Banton's clinical half-century and a breathless Harry Brook cameo gave England an unassailable 2-0 lead over Sri Lanka, and left them with a problem of plenty ahead of the start of the T20 World Cup next weekend. England's solid start in an attempt to chase 190 was interrupted for more than an hour by unexpected rain in Pallekele, and they were set a stiff DLS-adjusted equation of 111 more runs off the last 9.4 overs when the weather cleared. more..

Feb 2 (Island) SL’s industrial sector has historically been an engine of growth, employment, and exports. Yet today, many industries face structural challenges, outdated practices, and intense global competition. Immediate and comprehensive policy reforms are, therefore, both urgent and essential—not only to revive growth but also to secure the future prosperity of the country. Industries contribute significantly to GDP and export earnings. They create value-added products, more..

Feb 2 (Island) Ranil Wickremesinghe, following his fortuitous elevation to the presidency in 2022, famously likened the unnervingly daunting task of saving a nosediving economy to Grusha crossing a collapsing rope bridge across an abyss, carrying a baby, in The Caucasian Chalk Circle. Thankfully, he completed that perilous journey, and handed over the baby to his successor Prez Anura Kumara Dissanayake. One can only hope that the baby will be safe. As if the task of looking after one baby were not enough, more..

Feb 2 (ST) Randomly picking up founding father of Singapore Lee Kuan Yew’s autobiography From Third World to First in a recent whistle-top work visit to that country was an unspoken nod to a more temperate assessment of decades long questioning of his democratically sacrilegious – and heavily critiqued – opinion that disciplined governance should prevail over the exuberance of democracy. In the wake of the extraordinary collapse of Western-style liberalism on more..

Feb 2 (TM) Sri Lanka’s public health system is once again caught in the crossfire of a familiar confrontation. The Govt Medical Officers’ Association (GMOA) has intensified its trade union action, restricting prescriptions, laboratory referrals and specialist services, citing the Govt’s failure to honour commitments made to doctors. Govt, in turn, has condemned the action as unreasonable and harmful, insisting that dialogue remains open and recent concessions have already been granted. more..

Feb 2 (TM) The Govt has launched an extensive build back better strategy following Cyclone Ditwah, underpinned by a financial allocation exceeding Rs. 500 billion for 2026. While the Treasury has secured significant domestic and foreign funding to expedite reconstruction, Govt officials and industry representatives indicate that a severe labour shortage and capacity limitations within the construction sector may hinder the pace of implementation. more..

Feb 2 (DM) Trump is a convenient scapegoat to blame – he has opposed climate change, and borrowed from 19th century gunboat imperialism to fashion the world according to his whims. But what may be overlooked is that he is businessman as much as politician – the new Doge or Caesar whose closest friends are billionaires, not senators. To be fair, Donald Trump did not create this new world order (or disorder). It came out of neoliberal economic policies (a la Milton Friedman) that overwhelmed more..

Feb 2 (CT) For decades, the wages of SL’s plantation workers have stood as a stark reminder of a development model that extracted value while offering little dignity in return. Generations of estate workers, the descendants of workers brought to the island under colonial rule, have remained trapped at the margins of the economy, their demands for fair pay echoing through successive govts with little more than incremental concessions. Against this long and uneven history, more..

Feb 2 (SO) As social media campaigns intensify calls for the removal of the Attorney General, concerns have emerged over alleged political pressure on SL’s prosecutorial and judicial institutions. At the same time, long-standing questions around delays in high-profile cases, conflicts of interest within the AG’s Department and the proposed setting up of an independent prosecutor’s office have returned to the centre of public debate. more..

Feb 2 (DM) Sri Lanka’s free healthcare system has long been one of the country’s greatest strengths. For generations, families from every social background have depended on public hospitals for everything from childbirth to emergency surgery. In times of crisis, whether during natural disasters or disease outbreaks, the commitment of medical professionals has often been praised as heroic. But today, many ordinary citizens are asking a difficult question. What happens when more..

Feb 2 (DM) Sri Lanka is a county where the majority of citizens claim that it’s a blessed nation, thanks to the presence of Gautama Buddha’s teachings. The problem we must address is that the country is not blessed by politicians. This article is based on understanding of the psyche of the present-day law maker from a different perspective. From the era of the peasant working for the landlord, the working class people have come a long way in life. But it’s a matter of concern when more..

Feb 1 (ST) There were some fast-moving developments this week in the case filed against former Prez Ranil Wickremesinghe over the alleged misuse of more than Rs. 16.6 million in state funds during what authorities claim was a private visit to the UK in 2023 when he was president. Mr Wickremesinghe is alleged to have undertaken the private visit at state expense to attend the graduation ceremony at U of Wolverhampton more..

Feb 1 (AD) PM Dr. Harini Amarasuriya says that in order to ensure the economic, social, and cultural security of the country, it is essential to develop quality human resources, and that education plays a vital role in achieving this goal. PM emphasised that the govt is committed to bringing about a transformation in the education sector and that the govt will continue to move forward by overcoming obstacles encountered along the way, guided by a clear vision and purpose. more..

Feb 1 (NW) A SL lawyer has alleged that his vehicle was attacked and damaged by a mob outside the Nugegoda Magistrate’s Court, warning that the incident reflects growing dangers faced by lawyers for carrying out their professional duties. He said the incident occurred on Friday morning as he was leaving the court premises, when a group of around 50 to 75 people surrounded his car at the main gate and smashed it. Jayaratne said the attackers were not personal adversaries but more..

Feb 1 (TM) Cabinet approval has been granted to procure 300,000 MT of coal on an emergency procurement basis to address any shortages that may arise if the current controversial long-term coal tender has to be stopped due to quality failures. Ministry of Energy Secretary Prof. Udayanga Hemapala confirmed that the ministry had received Cabinet approval. However, he stated that the coal would be procured only if necessary. more..

Feb 1 (SO) SL’s Gross Official Reserves have recorded a steady growth from around US$ 3.1 billion in 2021 to over US$ 6 billion last year despite local and global economic challenges. However, foreign reserves recorded last year is yet below the US$ 8 billion reported in 2017 and US$ 7.1 billion in 2018 under similar conditions in the domestic and global economy. CB noted that a notable level of reserves were accumulated in 2025 despite large debt service payments during the year. more..

Feb 1 (ST) A subcommittee set up under the National Coordinating Committee, on Anti-Money Laundering and Countering Terrorist Financing (AML/CFT), is preparing a regulatory process to govern Virtual Assets and Service providers (VASP) such as cryptocurrencies. The governing board of the Central Bank (CB) has agreed to set up a regulatory framework for VASPs, Dr. Subhani Keerthiratne, Director-Financial Intelligence Unit (FIU) of the CB, said. more..

Feb 1 (NW) CID has arrested a suspect in connection with an alleged financial fraud involving gemstones valued at Rs. 88.05 million, police said. The suspect is accused of obtaining nine gemstones worth Rs. 88,050,000 and issuing a cheque valued at only Rs. 64.6 million in return, resulting in a significant monetary loss to the complainant. The arrest was made following a complaint received by the CID. Police said the suspect is a 29-year-old resident of the Kollupitiya area. more..

Feb 1 (NW) India has dispatched a consignment of 10 Bailey Bridges to Sri Lanka to support reconstruction efforts following Cyclone Ditwah, the Ministry of External Affairs (MEA) said. According to MEA spokesperson Randhir Jaiswal, the bridges were sent from Visakhapatnam to Colombo aboard the Indian Navy ship INS Gharial. The deployment is aimed at restoring critical connectivity in cyclone-affected areas, where infrastructure damage has disrupted transport and access. more..

Feb 1 (ST) Four out of five steps needed for the dissolution of the CEB have now been fulfilled, but the last requirement—obtaining Cabinet approval for the national electricity policy and national electricity tariff policy—is yet to be completed. This stipulation is likely to be met in mid-February after the policy drafts go through a public consultation, said Pubudu Niroshan Hedigallage, the head of the CEB Transition Task Force. more..

Feb 1 (SO) The long-vacant post of Auditor General will be filled within the next three days, Minister Dr. Nalinda Jayatissa said. He said this in response as to why the appointment of the Auditor General had been in a deadlock for many months despite pressure from the Opposition, public and civil society organisations and religious leaders. He said the newly appointed Constitutional Council will decide on the appointment of the Auditor General at its next sitting – which is their second. more..

Feb 1 (AD) CPC has announced a revision of fuel prices effective from midnight today (31). Accordingly, the price of Auto Diesel has been reduced by Rs. 2 to Rs. 277 per litre, while the price of Petrol 92 Octane has been reduced by Rs. 2 to Rs. 292 per litre. Meanwhile, there will be no change in the price of Petrol 95 Octane, Super Diesel & Kerosene. Revised rates are as follows: Petrol 92 Octane – Rs. 292 (reduced by Rs. 2); Auto Diesel – Rs. 277 (reduced by Rs. 2) more..