Oct 7 (NW) Global macroeconomic risks have emerged as the most prominent threat to SL’s financial system, according to the CB’s latest Systemic Risk Survey (SRS), amid heightened geopolitical tensions and uncertainty over the global economic outlook. Central Bank said global macroeconomic risks accounted for 26% of perceived risks in the second half of 2026, up sharply from 14% in the first half of the year. The increase was largely attributed to concerns more..

Oct 7 (EN) State-run retail chain Lanka Sathosa plans to adopt a franchise model to sell goods under its brand name as part of a wider restructuring drive, Trade Minister Wasantha Samarasinghe said. Speaking in parliament, Samarasinghe said Sathosa had accumulated 24 billion rupees in losses and owed 14 billion rupees to suppliers, with over 200 of its retail outlets operating at a loss. To turn the network around, the govt is closing non-viable branches, upgrading 100 shops, more..

Oct 7 (TM) The insurers' legal team representing parties involved in the MV X-Press Pearl compensation dispute arrived in Sri Lanka on 29 September and held discussions with several senior Govt officials, including representatives of Treasury and Attorney General’s (AG) Dept. Neither the Central Environmental Authority (CEA) nor the Marine Environment Protection Authority (MEPA) confirmed the arrival of legal team in SL. more..

Oct 7 (NW) Opposition MP Namal Rajapaksa, addressing Parliament after being brought from remand custody, criticised the govt over the treatment of BBS General Secretary Ven. Galagoda Aththe Gnanasara Thero and called on Prez Anura Kumara to consider granting him a presidential pardon. Rajapaksa questioned why the govt was seeking clemency from Saudi Arabia for SL national Sivarasa Anojan, who faces a death sentence in the Kingdom, while not taking similar action in more..

Oct 7 (DM) The Colombo High Court has upheld the nine-month prison sentence imposed by the Colombo Magistrate’s Court on Bodu Bala Sena Secretary Ven. Galagoda Aththe Gnanasara Thera after finding him guilty of making statements insulting Islam during a media briefing, Colombo Additional Magistrate Lahiru Silva observed in court today. On Jan 1, 2025, Colombo MC sentenced Ven. Gnanasara Thera to nine months’ imprisonment and imposed a fine of Rs. 1,500. more..

Oct 7 (DM) It would be better to shoot BBS General Secretary Ven. Galagoda Aththe Gnanasara Thera dead, as was done to Venerable Kudapola Thera, a prominent Buddhist monk and national patriot, Pitiduwe Siridhamma Thera, also known as Siri Samanthabhadra Thera, said today. Thera said the imprisonment of Ven. Gnanasara Thera was not a new sentence but an extension of an earlier court order. more..

Oct 7 (DM) Supreme Court on Tuesday, while hearing a batch of petitions challenging the unconstitutional ceding of Katchatheevu island to SL, orally observed that Indian Tamil fishermen need to be sensitised against entering SL waters for fishing in Katchatheevu. A bench of Justices Sanjay Kumar and Sanjeev Sachdeva adjourned the hearing to Feb 2027, after Attorney General R Venkataramani said the govt is fully aware of the issues and would take necessary measures. more..

Oct 7 (NW) Indictments were served today before the Matara High Court on former IGP Deshabandu Tennakoon and eight other police officers in connection with the shooting incident at a hotel in Weligama in December 2023. The indictments filed by the Attorney General were read out to the nine accused when the case was taken up before Matara High Court Judge Nandana Amarasinghe. Following the serving of indictments, the High Court ordered that all nine accused be released on bail. more..

Oct 7 (TM) Bitumen stocks required for the Road Development Authority (RDA) have reached zero after supplies from Iran stopped in February, seriously affecting road construction work, particularly the Central Expressway’s Third Section from Pothuhera to Rambukkana, RDA Director General H H N A Hettiarachchi said. Hettiarachchi said that the RDA had previously used 100 per cent Iranian bitumen and had used the remaining stocks in the market after the supplies stopped. more..

Oct 7 (NF) US Navy's USS Tulsa (LCS 16) arrived at the Port of Colombo on Oct 7, marking its second visit to SL in just over a year. The visit of the Independence-variant littoral combat ship comes as both nations continue efforts to strengthen cooperation in maintaining peace, security and stability across the strategically important Indian Ocean region. Welcoming the vessel's arrival, US Ambassador to SL Eric Meyer said every visit by a U.S. naval vessel presents an opportunity to more..

Oct 7 (FT) Govt yesterday defended its gradual opening of the capital account and refused to disclose its plans for SL’s international Bonds, arguing that any such signal would be market-sensitive. Responding in Parliament during the debate on new regulations governing foreign exchange outflows, Deputy Minister Chathuranga Abeysinghe said the measures would boost investor confidence by easing restrictions more..

Oct 7 (AD) A discussion between Secretary to the President Dr Nandika Sanath Kumanayake and the heads of state and private sector institutions sponsoring the SL National Scout Jamboree was held at the Presidential Secretariat in Colombo. The discussion focused on the contributions being made by state institutions supporting the Jamboree, as well as by state and private sector institutions providing financial sponsorship to ensure the successful organisation of the event, more..

Oct 7 (NW) Former First Lady Shiranthi Rajapaksa was arrested by the CIABOC over allegations involving Rs. 10 million obtained for the purchase of a CT scanner for the Lady Ridgeway Hospital for Children. According to CIABOC, the money had been obtained from the National Savings Bank through the Siriliya Saviya organisation, stating that it would be used to provide a computerized tomography (CT) scanner to the hospital. Bribery Commission alleges that the CT scanner more..

Oct 7 (NW) SL govt is stepping up legal efforts to assist SL national Anojan Sivarasa, who is facing the death penalty in Saudi Arabia, with a legal team currently in the Kingdom preparing an appeal to its Supreme Court, Minister Vijitha Herath told Parliament. Herath said the deadline to submit the appeal is Oct 17 and that the govt expects the legal team to complete and file it shortly following consultations with a Saudi law firm. more..

Oct 7 (DM) Most Ven. Medagama Dhammananda Thera, Secretary of the Asgiri Chapter of the Shyamopali Maha Nikaya, has raised serious legal concerns over the decision to remove the robe of Ven. Galagoda Aththe Gnanasara Thera and present him before court in lay attire after his imprisonment. Asgiri Chapter said it respected the court verdict against the Thera but questioned whether the procedure followed by prison authorities was consistent with the relevant provisions of more..

Oct 7 (AD) The SL Bureau of Foreign Employment (SLBFE) states that 211,666 SL migrant workers have departed for foreign employment during the first nine months of this year. Of them, 141,916 individuals departed through their own means, while 69,750 travelled abroad through foreign employment agencies. The Bureau further stated that the migrant workers comprised 134,761 males and 76,905 females. Notably, 108,343 of those who departed were skilled professionals. more..

Oct 7 (FT) SL’s delivery landscape is about to take a different direction. Ting, a homegrown innovation-first platform, built for SL ordering habits, will officially launch on 30 Oct in the Colombo district, introducing a new approach to food delivery designed around how people actually order together rather than how traditional delivery apps have operated. Ting is part of Edine Services Ltd, a fully Sri Lankan-owned platform services company. Launching under the brand promise more..

Oct 7 (NW) Former NSB Chairman Pradeep Kariyawasam has been arrested by CIABOC in connection with the investigation into the Siriliya Saviya account linked to former First Lady Shiranthi Rajapaksa. Kariyawasam, who is also the husband of former Chief Justice Shirani Bandaranayake, was arrested as part of the ongoing investigation into allegations concerning the account. Investigation relates to the Siriliya Saviya initiative associated with Shiranthi Rajapaksa, more..

Oct 7 (AD) Former First Lady Shiranthi Rajapaksa has been produced before the Hulftsdorp court, a short while ago. Shiranthi Rajapaksa was arrested by officers of the CIABOC this morning. Shiranthi Rajapaksa was arrested at her residence on Poorwarama Road in Kirulapone. According to the Bribery Commission, Rajapaksa was arrested after officers recorded a statement from her for nearly two hours. more..

Oct 7 (NW) Govt is considering introducing an insurance scheme or suitable compensation mechanism for damage to coconut cultivation, Minister Samantha Vidyaratne has said. He said discussions are currently underway with relevant stakeholders on establishing such a mechanism, as no formal crop compensation scheme is presently in place for damage to coconut cultivation. He made the remarks during the third meeting of the Ministerial Consultative Committee on more..

Oct 7 (NW) A contempt of court complaint against six individuals, including former MPs Wimal Weerawansa and Udaya Gammanpila and MP Dilith Jayaweera, was taken up before the Court of Appeal today. Complaint had been referred by the Colombo Fort Magistrate, alleging contempt of court by the six individuals. The matter was taken up before a 3-judge Court of Appeal bench comprising President of the Court of Appeal Justice Rohantha Abeysuriya and Justices Chamath Morais and more..

Oct 7 (TM) Deputy Defence Minister Aruna Jayasekara said that less than 1,000 weapons belonging to former paramilitary groups that operated in the Northern and Eastern Provinces during the armed conflict have been handed over to the Govt, with the Security Forces, Police and Intelligence agencies continuing to monitor whether the groups pose any threat to national security. He made the statement in response to a question more..

Oct 7 (FT) More than two decades ago, I wrote about the importance of conserving Sri Lanka’s remarkable biological diversity and the need to protect not only individual species but also their habitats, genetic variation and ecological relationships. The urgency was already apparent then. Today, it has increased considerably. Habitat destruction, fragmentation, invasive alien species, pollution and climate change have intensified the pressures on our native plants and animals. more..

Oct 7 (AD) Former Minister Rohitha Bogollagama, who was arrested by the CIABOC and produced before court, has been remanded by the Colombo High Court. He was ordered to be remanded in custody until the conclusion of the trial. High Court Judge Rashantha Godawela issued the order. The order was made following submissions presented by the Bribery Commission (BC) regarding the matter. Bogollagama was arrested by officers of BC this morning based on an open warrant issued by more..

Oct 7 (FT) SL’s unemployment challenge is not merely an education problem. It is an economic, institutional and human-capital challenge and the teacher must be at the center of the solution. For decades, a university degree in SL was regarded as a passport to both domestic employment and to the global labour markets. SL has produced generations of distinguished professionals whose brilliant contributions have extended far beyond their disciplines to delight the body of knowledge more..

Oct 7 (NW) PM Harini Amarasuriya said the drafting of a Bill to establish an Education Council is expected to be completed within one year, as part of efforts to strengthen standardisation and professional development in Sri Lanka’s education sector. PM Amarasuriya said the Council is being established based on recommendations made by an expert committee appointed by the Secretary to the Ministry of Education, Higher Education and Vocational Education. more..

Oct 7 (FT) World Bank upgraded its outlook for SL, raising its 2026 growth forecast to 4.4% from 3.6% in April, but warned that the recovery remains uneven, with poverty above pre-crisis levels and real wages still about 12% below 2019. Latest in the Bank’s twice-yearly SL Development Update, titled From Recovery to Transformation, projects growth easing to 4.2% in 2027 and 4% in 2028 as the post-crisis rebound fades and growth more..

Oct 7 (DM) SL has imported more than 800,000 vehicles worth around USD 3.8 billion since vehicle import restrictions were lifted in 2024, Deputy Minister Nishantha Jayaweera said. Letters of Credit (LCs) amounting to USD 1.9 billion were opened during 2024 and 2025, while LCs worth USD 1.69 billion had been opened in 2026. More than 79,000 cars, 12,000 commercial vehicles, 3,148 buses and vans, 317,000 motorcycles and 40,000 three-wheelers have been imported so far this year. more..

Oct 7 (Island) BBS General Secretary Ven. Galagodaatte Gnanasara Thera, who has been ordered by the court to serve the remainder of his prison sentence, is to be assigned to the prison printing work party, prison officials said yesterday. Monk was produced before Colombo HC yesterday by prison officials in connection with a warrant issued by the court. He appeared before the court in civilian attire. Prison sources said arrangements were being finalised for his detention more..

Oct 7 (TM) Govt has moved to prevent further fuel shortages by instructing private fuel distributors to maintain uninterrupted supplies and minimum fuel stocks, as reduced deliveries by three companies have triggered queues at filling stations across the country. Minister Anura Karunathilaka said Ministry Secretary was expected to issue a written notification to the relevant companies yesterday, directing them to ensure more..

Oct 7 (FT) The Govt had spent only 16.7% of its 2026 capital Budget and about 8% of the Rs. 500 billion allocated for Cyclone Ditwah reconstruction by mid-year, World Bank said yesterday. It attributed the shortfall to weak public investment management rather than a lack of funds. In its Sri Lanka Development Update, the Bank said the under-execution reflects weaknesses in project selection, procurement and implementation capacity, rather than financing constraints. more..

Oct 7 (FT) Poverty in SL is recovering but remains above pre-crisis levels, the World Bank said. It projected a gradual decline to 14% by 2028, which would still leave the rate above 2019, and warned that the recovery is uneven across the country. In its October SL Development Update, the Bank estimated poverty at 16.9% in 2025, measured at the $ 4.20-a-day line for lower middle-income countries. That is down from a crisis peak of 20.7% in 2023 but above the 11.5% of 2019. more..