Feb 26 (FT) We are standing in the debris of yet another new era that promised to save us. If you are feeling a sense of déjà vu, you are not alone. In fact, you should be feeling it. We are living through a rerun of a bad movie we watched just six years ago, only this time the actors have changed costumes. Looking back at the chaotic trajectory of the last decade, from the technocratic dreams promised by Gotabaya Rajapaksa in 2019 to the radical System Change heralded by Anura Kumara Dissanayake more..

Feb 26 (FT) From 1 Jan 2026, UK implemented reforms to its trade preference scheme, Developing Countries Trading Scheme (DCTS). SL’s garment sector is the most significant beneficiary of these reforms. Recently, with Deputy Minister Chaturanga Abeysinghe, I went to see some of the first garments leaving for the UK, tariff free, from the warehousing facility of local logistic partners at Maersk and Speedmark. Garments are SL’s largest export to the UK, and I hope volumes will grow. more..

Feb 26 (DM) The long-running LP gas shortage in Sri Lanka is expected to last for a few more days till the arrival of fresh shipments by the end of this week, an official said. Households, hotels, and industries are struggling amid dwindling supplies. Litro Gas Lanka Ltd. Chairman Channa Gunawardena said that the country had been facing an ongoing shortage affecting both Litro Gas and Laugfs Gas consumers. more..

Feb 26 (AD) Residential land prices in the Colombo District have risen by 12.4% in the second half of 2025, from a year ago, followed by commercial land prices by 11.3%. Continuing the upward trend, the Land Valuation Indicator (LVI) compiled for the Colombo District increased by 10.6% during the second half of 2025, compared to the same period of 2024. The increase was visible across all sub indicators of LVI, namely, Residential, Commercial and Industrial LVIs, which recorded more..

Feb 26 (DM) Former Minister Champika Ranawaka has questioned why, in the backdrop of former Ministers Mahindananda Aluthgamage and Nalin Fernando being sentenced to 20 years’ imprisonment on charges of causing a loss to the Govt in an import transaction, law is not similarly enforced in the case of the alleged fraud that has caused billions of rupees in losses to the State through the importation of substandard coal under the present Govt, and why it is being more..

Feb 26 (FT) Fresh changes to the tax code will see higher tax rates on capital gains, a significant expansion of the Withholding Tax (WHT) base, tighter compliance, and more. A Bill to amend the Inland Revenue Act, No. 24 of 2017 has been published in the Gazette Extraordinary dated 20 Feb and issued on 24 Feb by Finance, Planning and Economic Development Minister Anura Kumara Dissanayake. According to a Tax Flash issued by KPMG more..

Feb 26 (AD) SL and India abstained in the UN General Assembly on a draft resolution that called for an immediate, full and unconditional ceasefire between Russia and Ukraine. The draft resolution, Support for lasting peace in Ukraine, coming on the fourth anniversary of the Russian invasion of its neighbour, was adopted by the 193-member UN General Assembly, with 107 nations voting in favour, 12 against and 51 abstentions. SL was among the 51 member states abstaining from resolution, more..

Feb 26 (AD) Minister of State and Foreign Affairs of Portugal Paulo Rangel, on a working visit to Sri Lanka met the Minister Vijitha Herath on 24 February at the Ministry of Foreign Affairs in Colombo. Welcoming his Portuguese counterpart, Foreign Minister Herath said that the visit is timely and significant. Foreign Minister of Portugal also noted that it is time for the two countries to explore further avenues for cooperation based on the platform of rich cultural heritage. more..

Feb 26 (CT) Colombo Fort Magistrate ordered the CID to release within one week a stock of gold jewellery, gems and other valuables seized from the Dematagoda residence of Easter Sunday bombing suspect Ibrahim Ilham Ahmed. Fort Magistrate Isuru Neththikumara issued the directive on 25 Feb, instructing the CID to hand over the items to Ilham’s brother, Iflaal Ahmed, who had claimed ownership through his legal representatives. Court was informed that valuables had been taken into more..

Feb 26 (DM) A young man, accused of intimidating young women by demanding nude videos for the past three years, was ordered to be remanded till March 6 by Colombo Chief Magistrate yesterday. Suspect was taken into custody and produced before the court by the Computer Crime Investigation Unit of CID. Assistant Police Inspector appearing in court, stated that the suspect had illegally accessed the mobile phones of young women using fake internet connections and more..

Feb 26 (FT) US signalled that deeper economic engagement with SL will depend on sustained reforms and reciprocal trade and investment flows, with US Embassy in Colombo Chargé d’Affaires Jayne Howell telling business and Govt leaders that American capital will expand where regulations are predictable, contracts are honoured, and procurement is transparent. Addressing the AmCham Elevate SL CEO Forum 2026 more..

Feb 26 (DM) Port of Colombo kicked off 2026 with robust performance metrics, driven by a significant expansion in its core transshipment business and the successful scaling of new deep-water terminal capacity. According to the latest performance review, the transshipment volumes at the port grew by a commanding 14.9% in Jan 2026, reaching 604,173 twenty-foot equivalent units (TEUs), compared to the 525,768 TEUs recorded in the same month last year. This segment continues to be the lifeblood of more..

Feb 26 (NW) Sri Lanka’s police said they are investigating alleged death threats against the country’s public security minister and his deputy, reportedly linked to a stepped-up crackdown on drug trafficking. Police said the threats were directed at Public Security Minister Ananda Wijepala and Deputy Minister Sunil Watagala. The threats came to light following intelligence information received from the Avissawella area. CID has launched a broad investigation into the matter. more..

Feb 26 (CI) There was too much external negativity around his team, the pitches were too bowler-friendly, and fitness issues for key players were major issues that helped bring SL's downfall, said captain Dasun Shanaka. SL became the first team to be eliminated from semi-final contention when they were humbled by 61 runs in front of a packed Khettarama ground on Wednesday. SL had faced significant public criticism in the lead-up to this World Cup, having had largely poor results more..

Feb 26 (FT) Prime Lands Residencies has secured the historic Otters Club car park property in Colombo 7 through a recently concluded agreement with the UDA, marking one of the most significant residential land acquisitions in the district in recent years. The property will be developed into The Elizabeth, a landmark residential tower envisioned to redefine contemporary living in Col 7. The announcement comes as welcome news to clients and investors who have been awaiting more..

Feb 26 (EN) The arrest of Major General Suresh Salley, the former head of SL’s State Intelligence Service (SIS) and Military Intelligence, on Feb 25, marks a seismic shift in the country’s long and painful quest for justice regarding the 2019 Easter Sunday attacks. For years, the investigation into the Islamist suicide bombings, which claimed at least 269 lives was dogged by allegations of a deep state conspiracy and high-level cover-ups. more..

Feb 26 (FT) DFCC Bank yesterday said it has delivered a record financial performance for the year ended 31 Dec 2025, reinforcing the strength of its strategy, the discipline of its execution, and the resilience of its balance sheet. Profit After Tax (PAT) from continuing operations increased by 32%, supported by sustained expansion in the loan portfolio and deposit base, disciplined asset-liability management, and strong cost governance. Total assets expanded by 22% to Rs. 857 billion, more..

Feb 26 (CI) 0.346: Sri Lanka's win-loss ratio in men's T20Is at Colombo's R Premadasa Stadium. They have won nine and lost 26 of their 35 T20Is here. Their win-loss ratio is the second-worst among teams that have played 15 or more matches at a venue. The worst is UAE"s 0.214 at the Dubai International Cricket Stadium, where they have won three and lost 14 of their 17 T20Is. 2014: Last time Sri Lanka reached the semi-finals of a men's T20 World Cup. They won the title that year. more..

Feb 26 (CI) If ever SL needed their 12th man it was tonight, and the crowd at the Khettarama were up to the task. Up to 3 hours before the first ball, fans were queuing and bustling to get in, with the congestion starting around 1 km away from the ground. And by the time the first ball was bowled the ground was already a sea of blue and yellow. NZ are arguably one of the most mentally resilient outfits out there, but the decibels being generated more..

Feb 26 (FT) Phoenix Ogilvy has been named 2025 SL Agency of the Year after topping Campaign Brief Asia’s Creative Rankings as the most internationally awarded agency in the country. The agency’s ranking also marks SL’s return to the list in 2025, following the country’s absence from it the previous year. Campaign Brief Asia Creative Rankings annually evaluate the top 100 most awarded creative agencies in Asia, based on their achievements across leading international awards shows. more..

Feb 26 (FT) National Development Bank announced a strong growth across all business lines with Net Banking Revenue increasing by a 45.2% on a comparable basis. NDB said like most other peers, the Bank’s 2024 financial performance was positively impacted following the successful conclusion of the ISB debt restructure with a one-off impact on interest income, fee income and net impairments amounting to Rs. 1.4 billion, Rs 0.7 billion and Rs. 9.4 billion, respectively for the said year. more..

Feb 26 (FT) The Sri Lanka Institute of Directors (SLID), in partnership with ACCA Sri Lanka, formally marked a milestone in the country’s corporate governance landscape with the inaugural SLID–ACCA National Corporate Director Awards Ceremony, held on 28 Jan, at Cinnamon Grand Colombo. The event established, for the first time in Sri Lanka, a national platform devoted solely to recognising excellence in corporate directorship and highlighting the vital role that principled and more..

Feb 26 (FT) The transportation and logistics arm of Hayleys PLC, Hayleys Advantis Ltd, entered into a strategic agreement with Sarens Heavy Lift India Ltd, part of the Belgium-based Sarens Group, a global leader in crane rental and engineered heavy lifting, to collaborate on projects involving the supply and operation of heavy lift cranes and specialised lifting solutions in Sri Lanka and the wider region. The partnership will establish a Joint Venture in SL to invest in and expand crane rental more..

Feb 26 (CI) A stunning rearguard from Mitchell Santner and Cole McConchie knocked Sri Lanka out of the 2026 T20 World Cup in spite of an electric start for the hosts as New Zealand sealed a crushing 61-run win. At an electric R Premadasa Stadium that crackled with perhaps the best atmosphere of the tournament, Sri Lanka's spinners put New Zealand's top and middle order to the sword, reducing them to 84 for 6. more..

Feb 26 (SO) With the current Govt committed to good governance and anti-corruption reforms, SL now has a unique opportunity to accelerate development and achieve sustained economic progress, said Managing Director of the IMF Kristalina Georgieva, who arrived in SL last week for a three-day visit, This was her core message during her talks with SL leaders and officials. Georgieva said that SL has faced multiple shocks, including the Northern conflict, the tsunami, terror attacks, more..

Feb 26 (Island) The NPP, led by JVP, came to power promising democratic renewal and long-awaited economic, educational, healthcare, and social transformation. It pledged to build a modern SL rooted in democratic values while steering the country toward its vision of Democratic Socialism. For many supporters, the NPP’s rise to the pinnacle of political power represents a historic opportunity to reset the nation’s direction. Yet recent developments have stirred unease. more..

Feb 26 (Island) CID yesterday arrested former Military Intelligence Chief Major General (Retd.) Suresh Sallay in connection with the ongoing investigations into the Easter Sunday terror attacks (2019). ASP F.U. Wootler told a hurriedly summoned media briefing that the arrest of Sallay was based on credible evidence. If so, the burden is on the police to prove their very serious charges against the war-time military intelligence officer who played a pivotal role in eliminating LTTE terror. more..

Feb 26 (CT) When the first sod was turned for the proposed Jaffna Int'l Cricket Stadium on Mandaitivu Island last September, it was presented as a moment of hope. Under the patronage of Prez Dissanayake, the ceremony signalled what officials described as a landmark development drive for the Northern Province — the beginning of a grand sports city that would bring investment, tourism and pride to the region. But progress, however well-intentioned, cannot come at the expense of the law. more..

Feb 26 (CT) World Cancer Day, observed annually on 4 February, brings into focus a health challenge that continues to grow. In 2022, the world recorded an estimated 20 million new cancer cases alongside nearly 10 million cancer-related deaths. Models project that by 2050, new cases could reach 35 million annually, marking a 77% increase from current levels, driven by ageing populations, urbanisation, and persistent more..

Feb 26 (ST) Last week, the Sunday Times Business reported that SriLankan Airlines received Rs. 25.2 billion in Dec 2025 through a govt capital infusion. This is hardly new—such bailouts have been a recurring feature throughout the airline’s history. According to the airline’s 2024/25 annual report, accumulated losses had reached Rs. 379.5 billion. On top of this, the company carried heavy bank debt and unpaid international bonds, with interest obligations of about US$ 211.6 million more..

Feb 26 (GV) The root causes of SL’s 26 year civil war have yet to be addressed, resulting in many consequences including exacerbating the issue of land conflicts and contestation related to places of religious worship. Escalating conflicts over land and religious sites, particularly in the north and east, are deeply intertwined with issues of ownership, control and access, which have been persistent drivers of conflict in the region. Land disputes and contestation over religious sites are not new phenomena. more..

Feb 26 (SO) Public confidence in SL’s direction is rising, with a majority now expressing satisfaction with the way things are going in the country, according to the Mood of the Nation survey by Verité Research in Feb 2026. Executive Director of Verité Research Dr. Nishan de Mel said 59% expressed satisfaction with the way things were going in the country, the first time that figure crossed the 50% mark, in four years of polling. more..