May 22 (TM) SL's present Govt will not resort to reactive, short-term interventions aimed at countering minor daily movements in the exchange rate and instead will rely on market-stabilising interventions, allowing the market to continue to function, Deputy Minister Jayantha Fernando said in Parliament. Addressing opposition concerns over the recent depreciation of the SL rupee, which has reached approximately more..

May 22 (TM) SL rupee has been identified as the worst-performing currency in Asia this month, according to a report published by a leading global business news platform. Report stated that the SL rupee had weakened significantly against the US dollar in recent days and warned that the currency could depreciate further. Commenting on the situation, Prof. Wasantha Athukorala said the rapid depreciation of the rupee within a short period posed a serious risk to the country’s economy. more..

May 22 (DM) Met Dept says the South-West monsoon is gradually getting established over the island, with prevailing rainy conditions over the south-western parts expected to continue during the next few hours. According to the latest weather forecast, showers or thundershowers will occur at times in the Western, Sabaragamuwa and North-Western provinces and in the Galle, Matara, Kandy & Nuwara-Eliya districts. Very heavy rainfall exceeding 200 mm is likely at some places in more..

May 22 (FT) Central Bank of SL (CBSL) yesterday met bankers and currency dealers as authorities weighed tighter foreign exchange regulations to contain mounting pressure on the rupee amid heightened dollar demand and global uncertainty linked to the Middle East war. The indicative telegraphic transfer (TT) LKR/USD rate published by the CBSL yesterday ranged from Rs. 342.63 buying to Rs. 354.03 selling, more..

May 22 (NF) Sri Lanka’s inflation rate rose sharply to 4.7% in April 2026 on a year-on-year basis, according to official data, marking a notable increase compared to 2.4% recorded in March 2026. The inflation measure, based on the National Consumer Price Index (NCPI), reflects divergent trends between food and non-food categories during the period under review. Year-on-year inflation in the food category moved to 1.1% in April from 0.7% recorded in March. more..

May 22 (DM) Minister Sports Sunil Kumara Gamage, has approved the appointment of a new Selection Committee for SLC following a request made by the board. According to the Ministry, the appointments were made under the powers vested in the Minister through Section 39 (1) of the Sports Law No. 25 of 1973 and the Extraordinary Gazette Notification No. 2437/24 dated May 21, 2025. The newly appointed Selection Committee will be headed by former cricketer Kapila Wijegunawardena as Chair. more..

May 22 (DM) Inland Revenue Department (IRD) has announced that it has successfully collected over Rs. one trillion in tax revenue as of May 18, 2026, marking a significant milestone in the country’s fiscal performance. The dept said the achievement strengthens SL’s financial stability and supports the delivery of public services across the country. Commissioner General of IRD, Rukdevi Fernando, expressed appreciation to taxpayers for their contribution to this milestone. more..

May 22 (AD) Deputy Minister Dr. Anil Jayantha told Parliament that reports claiming 4,000 Letters of Credit (LCs) were opened on May 15, a day before the govt imposed a new 50% surcharge on customs import duties for imported vehicles, are completely false. He stated that 9,429 LCs had instead been opened on May 18, after the relevant gazette notification was issued. Finance Ministry recently introduced a new 50% surcharge on the existing customs import duty for imported vehicles, more..

May 22 (FT) Deputy Minister Anil Jayantha Fernando said Govt expects to receive the next $ 700 million tranche under the IMF's EFF program on 27 May, while expressing confidence that continued multilateral inflows, fiscal discipline, and ongoing reforms would help strengthen SL’s foreign exchange position despite external shocks linked to the Middle East conflict. He said SL was continuing efforts to strengthen more..

May 22 (FT) The first commercial-grade Battery Energy Storage System (BESS) was unloaded at Colombo Port yesterday, marking a milestone for the energy transition in SL. A container ship berthed on 20 May carrying the BESS units that will anchor the first BESS project in SL by Galilee BESS Ltd, a subsidiary of WKV Hydro Group, a leading renewable energy developer in SL who were awarded the Galle and Matara sites, which are expected to be connected to the national grid more..

May 22 (DN) SL Women’s A pulled off a strong comeback to defeat New Zealand Women’s A by three wickets with three balls to spare in the first T20 of the 3-match series at the Rangiri Dambulla Int'l Stadium yesterday. It was a solid all-round effort led by skipper Sathya Sandeepani, who was named Player of the Match, as Sri Lanka went 1–0 up in the series after losing the ODI series at the same venue. Chasing 130, SL needed 10 runs off the final over from NZ skipper Jess Watkin. more..

May 22 (NW) Sri Lankan activist Sameera Mehboobdeen, who joined the international Global Sumud Flotilla mission aimed at breaking the naval blockade of Gaza, is safe and has been deported from Israel, according to officials and sources in touch with her. The development comes as Israel began releasing and deporting hundreds of activists detained after attempting to breach the blockade, according to the Israel-based legal advocacy group Adalah. more..

May 22 (DM) Sri Lanka’s national consumer prices accelerated in April as the full impact of higher fuel, electricity and transport costs filtered through the economy, pushing inflation closer to levels not seen in several months. Headline inflation, measured by the National Consumer Price Index, rose to 4.7% year-on-year (YoY) in April from 2.4% in March, according to the DCS. The all-items NCPI rose to 216.3 in April from 210.9 in March, marking a 2.54% month-on-month increase. more..

May 22 (FT) Deputy Minister Dr. Anil Jayantha Fernando ruled out any move to suspend vehicle imports and rejected claims of a sharp surge in LCs, saying recent import demand was already moderating following the Govt’s decision to impose a temporary surcharge on vehicle import duties to ease pressure on foreign exchange reserves. 380 LCs were opened on 15 May covering 1,782 vehicles valued at $ 23.71 million. more..

May 22 (FT) Sri Lanka must urgently pivot from chasing tourist numbers to building a high-value, experience-driven tourism economy backed by stronger branding, infrastructure, and storytelling, global tourism experts said during a panel discussion at Sancharaka Udawa 2026. The session, titled SL Tourism: What’s next… What’s missing?, featured MakeMyTrip Chief Commercial Officer – Holidays and Experiences Jasmeet Singh, Droga & Co./Well Traveller Founder more..

May 22 (AD) The Leader of the Opposition, Sajith Premadasa has called for an All Party Conference in order to discuss the ongoing economic downturn including the rapid depreciation of the SL Rupee. He said the opposition has come together in unity as the country is once again facing what he described as a dangerous economic warning sign. He stated that the rapid depreciation of the rupee, rising cost pressures, and growing economic uncertainty cannot be viewed as a partisan issue. more..

May 22 (DN) “Cricket is not owned by a committee, a group of people or even the Govt. Cricket belongs to the spectators of the country, and we are very concerned about that,” said Transformation Committee Chairman Eran Wickramaratne said. He said all stakeholders are being invited to present their views, adding that the door is open for cricketers, umpires, coaches, trainers, administrators, clerks and district & more..

May 22 (Island) Ceylon Chamber of Women Entrepreneurs (CCWE) officially announced the CCWE Fashion Week & Int'l Summit 2026 at a press conference held in Colombo, unveiling a historic national initiative that will mark the first-ever fashion week in SL and the South Asian region dedicated exclusively to women entrepreneurs. Held under the theme Threads of Inclusion Woven from Every Walk of Life, the event is scheduled to take place from 16th to 20th July 2026 at Cinnamon Life, more..

May 22 (FT) Energy Minister Anura Karunathilaka said that the Govt expects to settle nearly Rs. 15 billion in outstanding dues owed to renewable energy developers by end-June, amid mounting concerns over payment delays affecting the sector. He said the National System Operator (NSO) had accelerated payments, releasing Rs. 2 billion on 19 May, while a further Rs. 1 billion is scheduled to be paid next week to renewable energy plants. The delays have affected 386 renewable more..

May 22 (FT) SL’s recent macroeconomic pressures are being driven primarily by an external energy shock linked to the Middle East conflict rather than the domestic imbalances that triggered the 2022 economic crisis, CT Smith Securities said in a macroeconomic update issued yesterday. The brokerage said rising oil prices, higher import costs, and pressure on the balance of payments had contributed to the recent depreciation of the rupee, rising inflation, and the widening trade deficit, more..

May 22 (FT) With the aim of strengthening the export competitiveness of Sri Lanka’s light engineering industry, Industrial Products Division of the Export Development Board (EDB) inaugurated a special awareness program for exporters and potential exporters in the light engineering sector at the EDB headquarters in Colombo. The inauguration program was held at the EDB on 19 May. The program was conducted jointly with the Foundry Development Services Institute (FDSI) and more..

May 22 (FT) IMF Mission Chief for SL Evan Papageorgiou yesterday signalled confidence in Sri Lanka’s ability to manage the economic pressures arising from the Middle East war, saying the country’s stronger policy framework, improved reserves, and ongoing reform program had placed the economy in a better position to absorb external shocks than in the past. “Sri Lanka’s reform program continues to move forward, more..

May 22 (Island) SL’s constitutional journey remains marked by unresolved dilemmas: entrenched executive dominance, fragile fundamental rights, unfulfilled reform promises, and the persistent national question. These challenges have deepened inequality, strained ethnic relations, and weakened democratic accountability. The writer argues that constitutional supremacy must be firmly secured above transient political majorities, with judicial review extending to all acts of the State, more..

May 22 (DM) Sri Lanka is often vulnerable to exchange rate fluctuations like what it is experiencing at the moment. For the common man, a depreciating rupee means that the cost of living is expected to be much higher than his or her income. This is also bad news for a country that is recovering from a recent economic collapse. Explaining reasons for the depreciation of the rupee at the Committee on Public Finance, CB Governor Dr. Nandalal Weerasinghe said that it is a reflection of more..

May 22 (TM) War is never something that should be glorified. There can be no greater foolishness than one human being marking victory or defeat through the blood of another. However, as Sri Lankans, we were forced to endure a terrible curse that tore through the heart of our motherland for three decades, consuming national wealth and countless young lives. Monday (18) marked the Day that that painful chapter came to an end. As a nation with conscience and clarity, we must remember more..

May 22 (DN) If you have even a passing interest in world news, you could not have missed two words that are mentioned rather frequently now – Ebola and Hantavirus. WHO has declared Ebola a public health emergency of international concern, spurred by the rapid spread of the disease in the Democratic Republic of Congo (DRC), Uganda and Rwanda since May 5 this year. Efforts to control the disease are complicated by the fact the current Bundibugyo strain has no effective vaccine, more..

May 22 (SO) For nearly 14 years, SL’s National Art Gallery in Colombo has remained closed behind scaffolding, unfinished renovations and growing controversy. What was once one of the country’s most important public space for visual arts has now become the centre of serious allegations involving neglected paintings, questionable renovations, missing artworks and claims of possible corruption. Artists and academics say more..

May 22 (TM) This week, the politics of Governors began with a letter. A letter written by the Western Province (WP) Governor, Hanif Yusoof to President Anura Kumara Dissanayake. Yusoof was among the first high-profile appointments of the NPP Govt, soon after the President took office. A powerful businessman. A trusted hand. At this point, one is reminded of former Roman Emperor Augustus/Octavian, the ruler who transformed a fragile Roman order into an empire. more..

May 22 (DN) SL’s construction industry is showing signs of activity again. Projects are restarting, reconstruction needs are increasing, and new opportunities are emerging. But activity should not be mistaken for recovery. SL is still carrying the after-effects of COVID-19, foreign-exchange shortages, inflation, delayed payments, labour migration, high financing costs, and global instability. National indicators may show improvement, but recovery at contractor level remains more..

May 22 (TM) SL has long taken pride in its rivers, reservoirs, and wetland systems that sustain agriculture, support biodiversity, and provide water for millions. But beneath the surface of these vital resources, a largely invisible threat is growing, and it is one we are not adequately prepared to measure, manage, or control. These microscopic plastic particles, often smaller than a grain of sand, are now widely recognised as more..

May 22 (DM) The end of the war between the armed forces and the LTTE was remembered in the country in two major events during a two-day period. A state sponsored remembrance was held at the Parliament grounds on Tuesday, and a separate event took place in Mullivaikkal, in Mullaitivu Distrct -- where the last battle was fought -- with leaders of Tamil political parties and civil society organisations participating on Monday. The two events were worlds apart in every conceivable way. more..

May 22 (Island) The depreciation of the rupee continues, and the govt is accused of making only halfhearted attempts to arrest it. The UNP has said the country is facing a very serious issue due to the uncontrolled tumble of the rupee, and during the 20 months since the current administration assumed office, the exchange rate has moved from around Rs. 292 at the time former Prez Ranil Wickremesinghe handed over office to around Rs. 354 against the US dollar. more..