Oct 12 (EN) Nearly one in every four rupees lent by SL’s banks and finance companies is now secured against a vehicle or gold, the central bank said, warning that the growing concentration has left lenders exposed to falling collateral values. The combined share of motor vehicle credit and gold-backed loans in total financial sector credit rose to 24.9% by end-June 2026 from 19.6% at end-2024, the Central Bank of SL (CBSL) said in its Financial Stability Review 2026. more..

Oct 12 (NW) A new fully equipped hospital complex costing Rs. 12 billion is planned for Dambulla to address overcrowding and space shortages at the Dambulla Base Hospital. Minister Dr. Nalinda Jayatissa inspected the proposed site on October 10. The project will be developed on approximately five acres of land in Pohoranwewa, within the Dambulla Divisional Secretariat Division. The land has been allocated by the Rangiri Dambulla Raja Maha Viharaya. During the inspection, more..

Oct 12 (DM) SL’s youth unemployment rate stood at 17.8% in the second quarter of 2026, rising to 22.4% among young women, highlighting the challenges faced by youth in securing employment. Labour Force Survey for April to June 2026 estimated that 150,684 people aged 15 to 24 were unemployed. Unemployment rate among young men was 15.5%, compared with 22.4% among young women, indicating a substantial gender gap in employment opportunities for those entering the labour market. more..

Oct 12 (AD) Charith Sandakelum, alias Ran Malli, a major drug trafficker linked to several organised criminal activities, including the trafficking of approximately 345 kilograms of crystal methamphetamine (Ice) recently recovered from the Kirinda Beach, has been arrested in Bulgaria. Bulgarian security authorities arrested the suspect based on Red Notices issued by INTERPOL and information available through border security databases. more..

Oct 12 (DM) Environment Ministry is moving to establish a coordinated national mechanism to manage electronic waste (e-waste) in SL, with plans to strengthen regulations and expand collection and recycling facilities. The initiative was discussed at a stakeholder consultation held at the Ministry of Environment ahead of International E-Waste Day on Oct 14. The meeting was chaired by Deputy Environment Minister Anton Jayakody, with the participation of Ministry Secretary K. R. Uduwawala, more..

Oct 12 (TM) Electricity Consumers’ Association (ECA) has called on the Govt to disclose the operating costs, fuel expenses and contractual payment arrangements of the Yugadhanavi, Sobadhanavi and Sahasdhanavi power plants, questioning their impact on electricity tariffs and the lack of public information on their costs. ECA General Secretary Sanjeewa Dhammika said the Govt should disclose how many days each plant operated, the amount spent on fuel, the cost of each unit more..

Oct 12 (NW) Sri Lanka Transport Board (SLTB) Chairman Sajeewa Kanakarathna has said the board plans to curtail unnecessary stops for tea breaks, particularly on short-distance bus routes such as Colombo–Kandy services. He said the measures would be implemented based on the distance travelled and the destination, while taking into account the needs of drivers and conductors. Breaks may still be necessary on longer journeys to help reduce driver fatigue and the risk of accidents, he added. more..

Oct 12 (Island) Communist Party of SL (CPSL) has alleged that the ruling UNP, in a ridiculous bid to whitewash illegal US sanctions on Iranian oil carriers stranded off SL, has taken on itself the blame for refusing to supply humanitarian aid to the trapped crews of the oil tankers. Text of the statement issued by Dr. G. Weerasinghe, General Secretary, CPSL: “SPSL condemns the attempts by the USA to prevent essential supplies of food and water to the 19-20 Iranian oil tankers stranded off the coast, more..

Oct 12 (EN) The local distributor of China’s BYD says it plans to sell 3,000 RACCO units in SL over the next year, as consumers shift to electric vehicles which provide lower operating expenses compared to fossil fuel alternatives. “With RACCO, BYD is entering the KEI car segment in SL, a category that is already very popular with SL buyers,” John Keells CG Auto CEO Charith Panditharatne said. Kei cars are a category of ultra-compact vehicles engineered in Japan to meet strict dimensions, more..

Oct 12 (DM) An expert committee has been appointed to formulate a national policy for engineering education aimed at improving the quality of engineering education in Sri Lanka and aligning it with the country's development needs. The committee was appointed by Education, Higher Education and Vocational Education Ministry Secretary Nalaka Kaluwewa under the directives of the Minister. It is chaired by Professor Udayanga Hemapala, Vice-Chancellor of the Uni of Moratuwa, and comprises more..

Oct 12 (Island) As part of the new govt’s initiative to formulate scientifically grounded, long-term solutions to the human-elephant conflict, a programme aimed at sustainably fulfilling the natural food and water requirements of wild elephants within forest ecosystems is being successfully implemented. Spearheaded by the Ministers of Environment, guided by the Secretary to the Ministry of Environment, and supported by all affiliated institutions more..

Oct 12 (EN) SL’s Increasing frequency and severity of extreme climate events present a growing threat to the island nation’s financial system stability, the Central Bank warns. In its Financial System Stability Review 2026 report, CB signaled that climate shocks threaten asset valuations, borrower repayment capacities, credit quality, and overall macroeconomic stability. The warning underscores how physical climate catastrophes disrupt economic activity, damage productive assets, more..

Oct 12 (NW) A coalition of six SL media organisations has strongly condemned what it described as a campaign of hate speech, insults and incitement to violence targeting Sandya Ekneligoda following the reimprisonment of Ven. Galagoda Aththe Gnanasara Thera. In a joint statement, organisations warned that the campaign could endanger Ekneligoda’s safety and further fuel a culture of hatred in the country. The organisations said Ekneligoda had been seeking truth and justice for more than 16 years more..

Oct 12 (TM) Attorney-at-Law Dr Chanaka Senanayake filed a petition with the Supreme Court (SC) on Thursday, challenging the Gazetted Sri Lanka Cricket Bill, which was tabled in Parliament by Youth Affairs and Sports Minister Sunil Kumara Gamage early last week. Dr Senanayake-a former head of the Legal Unit of SLC, stated that certain clauses contained in the new Bill, if allowed to be ratified without any amendments will seriously imperil the sport in the country. more..

Oct 12 (FT) The Colombo Commercial High Court last Friday dismissed a petition filed by M. Thiyagaraja seeking permission to take action against National Development Bank (NDB), its Directors, and external auditors over an alleged Rs. 13.2 billion fraud. High Court Judge Viraj Ranatunge issued the order on 9 Oct, stating that the requirements for proceeding with the case had not been met. The petitioner had raised concerns about the bank’s corporate governance, internal controls, and more..

Oct 12 (NW) Prez Anura Kumara Dissanayake has announced that SL is expected to receive substantial financial assistance from the Indian Govt for the development of the Anuradhapura Sacred City. Prez said the financial assistance would be provided as part of the strong bilateral relations between SL and India. He recalled that India had provided USD 100 million in assistance following Cyclone Ditwah, along with a significant number of temporary bridges and loan assistance for more..

Oct 12 (DM) Human Rights Commission of SL (HRCSL) has issued a landmark ruling declaring that the continued detention of two Tamil-language books by Sri Lanka Customs is a direct violation of the author's fundamental rights. The case involves author B. Piratheepan from Kilinochchi, whose consignment of 288 imported books printed in Chennai, India, was seized by customs officials over claims that the publications could damage national harmony. Disputed consignment comprised four titles: more..

Oct 12 (Island) An ex-LTTE cadre Sumathipala Suresh Kumar, alias Thavendran Murali, has told a 3-member bench of the Colombo High Court, hearing the disappearance of media personality Prageeth Ekneligoda, that during the war they discussed plans to assassinate President Mahinda Rajapaksa and a group of govt people. The alleged meeting took place in Habarana. The bench consisted of A.G.U.S.N.K. Seneviratne (Chairperson), Dr. Nalin Hewawasam and Lakmali Hewawasam. more..

Oct 12 (NW) PHU Leader Udaya Gammanpila has alleged that Ven. Galagoda Aththe Gnanasara Thera was forcibly stripped of his monastic attire and made to wear a prison uniform while in custody at Welikada Prison. Addressing a press conference in Colombo today (12), dressed in black, Gammanpila claimed that the incident had taken place despite strong objections from both Gnanasara Thera and the prison officers involved. more..

Oct 12 (AM) A Buddhist monk attached to a temple in the Kadurupokuna area of Tangalle has been arrested and released on bail after a French woman visiting Sri Lanka alleged that he had attempted to sexually assault her during a visit to the temple. Police Media Division has confirmed to BBC Sinhala that a complaint had been received at the Tangalle Police Station. The complaint was lodged by the woman and her partner, a German national. The incident occurred on 2 Oct, more..

Oct 12 (NW) MP Chamara Sampath Dassanayake has been arrested by the CIABOC today (12). He was arrested after arriving at the Bribery Commission to provide a statement in connection with an ongoing investigation. According to reports, the investigation concerns allegations that a bribe of Rs. 8.1 million was obtained from three companies in exchange for facilitating phosphate exports exclusively through those companies without following proper procedures. more..

Oct 12 (DM) Sri Lanka is slowly emerging out of its worst economic crisis. As part of the initiatives to stabilise the economy, the govt has commenced many programs to combat corruption and the black economy as part of the IMF program. However, some developments in the economy suggest a possible increase in black economy activities and corruption. In 2025, Sri Lanka improved its score in Transparency International’s Corruption Perception Index. more..

Oct 12 (AD) Former First Lady Shiranthi Rajapaksa, who is currently in remand custody at Welikada Prison, has been admitted to the Cardiology Unit of the National Hospital in Colombo. Rajapaksa was previously taken to the National Eye Hospital on Oct 9 for specialist medical treatment and was subsequently returned to prison custody. She had been referred to a prison medical specialist on Oct 8 due to an eye condition. Meanwhile, the Maligakanda Magistrate’s Court earlier rejected an anticipatory bail more..

Oct 12 (DM) Young people representing all 25 districts of SL gathered in Colombo today to urge the Govt to enact the proposed Tobacco-Free Generation policy into law. The event was organised by the Youth Action Network SL (YAN SL) to strengthen youth advocacy for protecting future generations from tobacco use. The proposed policy seeks to prohibit the sale of tobacco products to people born in or after 2010, with the aim of preventing younger generations from taking up tobacco use. more..

Oct 12 (FT) Sri Lanka’s 2024 political transition was historic. After an unprecedented economic crisis, the Aragalaya protest movement, deep public anger over corruption and widespread frustration with established political elites, voters chose a radically different political force. Anura Kumara Dissanayake and the National People’s Power (NPP) came to office promising to dismantle privilege, end corruption, strengthen social justice and create a new political culture. more..

Oct 12 (FT) The Central Bank has recently intensified its policy drive toward achieving financial inclusiveness and financial literacy. These dual concepts are foundational pillars of a modern, stable economy. In the lexicon of policymakers, financial inclusiveness means ensuring that sustainable financial habits and access are extended to everyone in society, rather than to an exclusive group. Financial literacy, on the other hand, demands that individuals who engage in financial transactions do so,. more..

Oct 12 (NW) Govt expects to introduce new prison regulations within two weeks to allow Buddhist monks serving prison sentences to be taken outside prison wearing their robes, subject to recommendations from their respective Nikayas or chapters. Proposed changes follow discussions between Prez and senior Buddhist monks representing the three Nikayas on Oct 8, following the controversy surrounding the removal of more..

Oct 12 (Island) Malwathu Mahavihara Chapter has released an official statement on the recent discussion between the Prez and a delegation of the Maha Sangha, representing the Mahanayake Theras of the Three Chapters, concerning the removal of robes from imprisoned monks. According to the statement, Prez acknowledged as reasonable the concerns raised by the Mahanayake Theras regarding imprisoned bhikkhus. He pointed out that under the existing legal framework, more..

Oct 12 (FT) SL and US State of Montana have opened talks on expanding trade and investment links in agriculture, manufacturing, mineral resources, and information technology. No agreements or investment commitments were announced. Montana Governor Greg Gianforte met Deputy Minister Chathuranga Abeysinghe last week. In agriculture, the two sides discussed widening market access for farm products, developing facilities to collect and store produce, more..

Oct 12 (DM) How much have prices in Sri Lanka changed over the past decade? This AI-powered Daily Mirror interactive compares prices from 2016 and 2026 across 65 everyday food items, Petrol 92, Auto Diesel, a 22K gold sovereign and the US dollar. Select an item to see the price difference, percentage increase and how many times its value has changed, or ask the AI Price Assistant to explore the figures for you. more..

Oct 12 (EN) Foreign investors bought SL rupee bonds for a second straight week in the week ended on Oct 9, amid a stable rupee. With the latest inflows, the island nation has witnessed net foreign buying in 15 of the last 17 weeks. Offshore investors bought a net Rs. Rs. Rs. 3,242 million (US$9.8 mil) worth of SL rupee bonds. Net buying extended the net foreign inflows into the rupee bonds to Rs. 5.1 billion in the last two weeks following a Rs. 16.5 billion outflow in the previous two weeks. more..

Oct 12 (EN) SL has spent less than 30% of 2026 capital spending, two govt sources said, with the govt expects to fully utilize it before the end of this year. SL has allocated Rs.1,380 billion for 2026 capital spending, but has spent only around Rs.385 billion through the first nine months of the year, two govt sources familiar with the details said. SL’s chronic failure to utilize its full budgetary allocations for capital investment reflects deep-rooted structural inefficiencies in public financial more..