Mar 9 (AD) Former MP Sajin Vass Gunawardena, who was arrested by officials of the CIABOC earlier today has been remanded. He was remanded until 24 March by the Colombo Chief Magistrate, Asanga S Bodaragama. Sajin Vass Gunawardena was arrested by the Bribery Commission over allegations of earning illegal assets worth Rs. 243.8 million. The former MP was arrested when he arrived at the BC more..

Mar 9 (FT) In recent times, Sri Lanka has witnessed a rather curious spectacle in its public discourse. A subject as grave and consequential as national defence has found its way into the realm of political banter and casual ridicule. Statements made during election campaigns, and later echoed in parliamentary exchanges, have sometimes treated defence policy as though it were a matter that could be explained with the simplicity of a classroom demonstration. more..

Mar 9 (EN) SriLankan Airlines said it was resuming daily services to Riyadh on Monday night and Dubai on Tuesday, while continuing to monitor the situation in West Asia. The following flights are scheduled to operate: Flight UL265 on the Colombo–Riyadh route is scheduled to depart at 18:15 hours local time (IST). Flight UL266 on the Riyadh–Colombo route is scheduled to depart at 22:35. Flight UL231 on the Colombo–Dubai route is scheduled to depart at 12:40. more..

Mar 9 (NW) The Sri Lanka Police have reported that a 29‑year‑old suspect from Kalutara was arrested on Sunday morning after attempting to snatch a gold necklace worth approximately Rs. 250,000 from an 18‑year‑old woman in Wennappuwa. The incident occurred on St. Anthony’s Street while the victim was travelling on a scooter from her residence to the supermarket. Hearing her cries for help, a nearby youth chased down the suspect, apprehended him, and handed him over to police officers. more..

Mar 9 (FT) In the last four years, SL was hit by three devastating economic shocks – two external shocks and one internal man-made shock. The external shocks in the form of the COVID-19 pandemic and cyclone Ditwah were delivered from outside the country, while the internal shock in the form of an unprecedented economic crisis was the country’s own making. I have written about all the three shocks in this series previously and interested readers can log into the link given in the more..

Mar 9 (DM) In a historic shake-up of SL’s power sector, the CEB has been officially dissolved and replaced with six separate state-owned companies from midnight yesterday, marking the beginning of a major restructuring of the country’s electricity industry. An Extraordinary Gazette Notification had been issued to establish six successor companies by transferring the functions and responsibilities previously handled by the CEB. more..

Mar 9 (Island) US Department of State has said that Washington respects Sri Lanka’s sovereignty in handling matters relating to the Iranian warship IRIS Bushehr and its crew, according to agency reports, quoting a State Department Spokesperson. He has said the final decision regarding the vessel, its crew and the rescued Iranian sailors rests with SL in accordance with its domestic laws and international legal obligations. The statement follows comments by Foreign Minister Vijitha Herath that more..

Mar 9 (DM) Explosions have continued to be heard across Iran, Israel and several Middle Eastern countries as the war between the United States, Israel and Iran entered its ninth day. The conflict began on February 28, when the US and Israel launched coordinated strikes on Iranian targets. Tehran responded with waves of missiles and drones targeting Israel and US military bases across Middle East, warning that any country hosting US forces could become part of the battlefield. more..

Mar 9 (ST) Lanka Coal Company (LCC) has extended its bid closing date for the emergency procurement of 300,000MT of coal, as an emergency hasn’t yet arisen, authoritative sources said. The tender was floated on Feb 25, with a closing date of March 6. This has now been extended till March 11. There is also reportedly low interest in the tender. Bidders were told, “In the event that no emergency situation arises more..

Mar 9 (TM) Three Chief Executive Officers have been appointed to three of the six companies established to replace the CEB, which is currently being dissolved as part of the restructuring of the power sector. Saliya Panditharatne has been appointed CEO of Lanka Electricity Generation Lanka (Pvt) Ltd, while Engineer N.S. Wettasinghe has been appointed CEO of National Transmission Network Service Providers (Pvt) Ltd. Appointments were made on 6 Feb. more..

Mar 9 (Reuters) The dollar took another leg higher on Monday, jumping to a three-month peak on the euro as oil surged past $100 a barrel, stocks slid and investors headed for safety as protracted war in the Middle ​East threatened to disrupt global energy supplies. The dollar was up 0.8% to $1.1525 on the euro , its ‌highest since November, and rose almost 0.4% to 158.48 yen early in the Asia session. Sterling and the Australian and NZ dollars fell by more than 0.6% on the dollar, more..

Mar 9 (Reuters) Iran on Monday named Mojtaba Khamenei to succeed his father ​Ali Khamenei as supreme leader, signaling that hardliners remain firmly in charge, as the week-old US-Israeli war with Iran pushed oil above $100 a barrel. Mojtaba, a cleric with influence inside Iran's security forces and vast business networks ‌under his father, had been viewed as a frontrunner in the lead-up to Sunday's vote by the Assembly of Experts, a body of 88 clerics tasked with choosing Khamenei's successor. more..

Mar 9 (DM) SL’s banking sector is currently confronting a medium-high money laundering risk, compounded by emerging threats from financial fraud and tax evasion. These findings were recently published in the SL National Risk Assessment on Money Laundering, Terrorist Financing, and Proliferation Financing 2024/25, a comprehensive evaluation coordinated by CB's Financial Intelligence Unit. Overarching national money laundering risk for the country has been evaluated as medium, more..

Mar 9 (FT) Sri Lanka has told International Sovereign Bond (ISB) investors that the Govt expects economic growth to stabilise at an average of 3.1% annually between 2027 and 2030 while maintaining a long-term real interest rate anchor of 2.5-2.6%, according to presentation documents released by the Finance Ministry last Friday. The projections were outlined as part of the Govt’s engagement with ISB holders more..

Mar 9 (FT) Govt and leading private sector executives have begun shaping a new strategy to steer the country’s export sector, with a high-level forum bringing together business leaders and State officials to chart priorities for the coming years. National Export Roadmap: CEO Forum was held last week, bringing together Chairmen and CEOs from across SL’s private sector to review export performance in 2025 and agree on strategic goals for 2026 and beyond. more..

Mar 9 (ST) Colombo High Court Judge Rashantha Godawela has been assigned to hear the corruption case against Energy Minister Kumara Jayakody. The case, the first against a ruling JVP-NPP minister, is due to come up for hearing next week. CIABOC this week indicted Minister Jayakody before the Colombo High Court on the charge of corruption, accusing him of causing a loss of over Rs 8.8 million to the state by allowing a contracted private company to make undue financial profits. more..

Mar 9 (FT) Sri Lanka Chamber of Small and Medium Industries (SLCSMI) is launching an initiative to support the backbone of Sri Lanka’s economy, the Small and Medium Enterprise (SME) sector, which is currently facing one of the most challenging periods in recent history. Over the past few years, SMEs have endured a series of major shocks that have disrupted businesses, weakened financial stability, and threatened thousands of livelihoods across the country. more..

Mar 9 (CI) It was a sea of blue at the Narendra Modi Stadium, and a black-and-blue beating for the luckless nearly-men of world cricket, as India - the hosts and pre-tournament favourites - delivered their third T20 World Cup title, and second in a row, with a ruthless 96-run victory over New Zealand in Ahmedabad. Just as had been the case in their epic semi-final over England, India were asked to bat first but responded to the challenge with a fast-forwarded display of power-hitting. more..

Mar 9 (TM) SL has granted one-month relief visas to Iranian sailors rescued from two vessels currently in its waters, with authorities confirming they will remain in the country temporarily until arrangements are made for their departure. Minister Ananda Wijepala said the decision was taken strictly in line with international maritime conventions and humanitarian principles, despite mounting geopolitical tension surrounding the sinking of more..

Mar 9 (Island) Education Secretary of the Frontline Socialist Party (FSP) Pubudu Jayagoda says the Indian company which secured a tender to supply coal for electricity generation this year has delivered only 13 of the 25 shipments required and no vessel has arrived in Sri Lanka for the last 10 days or so. Jayagoda said the Indian company Trident Chemphar, which secured the tender to supply 25 coal shipments for 2026, had placed the country’s coal stocks at risk. more..

Mar 9 (DN) Two impressive half centuries by Nemindu Akmeemana (79) and Ranmith Dinuwara (78) followed by a superb bowling spell of 3 for 19 by Osanda Pamuditha helped Nalanda College record a 53 run win over arch rivals Ananda College in their 49 th limited over cricket encounter which was played for the first time under lights at the SSC grounds on Saturday . Nalanda Skipper Osanda Pamuditha elected to bat first and they made a challenging total of 261 all out in 50 overs more..

Mar 9 (DM) SL is better equipped than during its 2022 financial crisis to absorb shocks from rising oil prices, CB Governor Dr. Nandalal Weerasinghe said, citing a strong US$ 7 billion foreign reserve buffer and low inflation as critical safeguards. With inflation at the end of last month standing at 1.6%, compared with the CB’s target of 5%, Dr. Weerasinghe confidently expressed that this gives SL sufficient space to absorb more..

Mar 9 (FT) Web3Interactive LLC, a UAE-based immersive technology company headquartered in Dubai, is introducing advanced real estate visualisation and immersive sales technologies to Sri Lanka through its innovation subsidiary, Immersive Labs. SL’s real estate sector is demonstrating steady recovery in 2025, boosted by macroeconomic stabilisation, lower policy rates and renewed investor confidence. Overseas and Diaspora interest is increasing with foreign buyers more..

Mar 9 (FT) World Trade Center (WTC) Colombo won the Gold Award for the Most Energy Efficient Building in SL at the SL National Energy Efficiency Awards 2025, organised by the SL Sustainable Energy Authority under the guidance of the Ministry of Power and Energy. The award ceremony, held on 24 Feb at the BMICH, was graced by PM Harini Amarasuriya, Power & Energy Minister Kumara Jayakody, and Deputy Minister Arkam Ilyas along with several distinguished guests and more..

Mar 9 (Island) Traditional Big Match between St. Sebastian’s College Moratuwa and Prince of Wales’ College Moratuwa ended in a draw after an absorbing contest at De Soysa Stadium Moratuwa on Sunday. St. Sebastian’s produced a strong second innings batting display with five top-order batsmen scoring half centuries to finish on 279 for five wickets declared, setting their arch rivals a target of 230 runs for victory. Prince of Wales struggled in their run chase and were reeling more..

Mar 9 (ST) The 30% surge in prices for Solar PV and Battery Energy Storage Systems (BESS) over the last three months has rendered such investments financially unviable in the current climate, according to industry analysts. The removal of a 9% VAT rebate on solar exports, along with surging silver prices (a critical component), has forced manufacturers to raise prices, reversing the previous cheap era of solar and batteries. Analysts said that in the residential sector, more..

Mar 9 (FT) Cricketer turned investor-cum-entrepreneur Aravinda de Silva last week made a compelling case for a further reduction in lending rates whilst reiterating his strong belief in SL’s potential to do better. “The interest rates need to come down further. Just because the interest rates have been at an all-time low, doesn’t mean that we have to remain at that,” Aravinda argued during his remarks at an investor forum more..

Mar 9 (Island) Sri Lanka stands at a geopolitical crossroads where geography is both its greatest asset and its most vulnerable liability. Sitting astride the Indian Ocean’s critical east-west highway, the waters, south of Dondra Head, channel nearly 30% of the world’s maritime trade. This route is the arterial vein connecting Asia, Europe, and the Middle East. Yet, as tensions flare in the Middle East and great power competition intensifies, Sri Lanka finds itself guarding a highway it does not own, more..

Mar 9 (Island) JVP-NPP govt came to power, promising to play a messianic role and cleanse SL politics, but a dirty coal procurement deal has blackened its reputation. Its leaders and propagandists are unashamedly trying to obfuscate the issue of procuring low-quality coal and causing huge losses to the ailing economy. They have made a fresh attempt to muddy the water by asking for further testing of the low-grade coal, which has already caused a loss of about Rs. 9 billion more..

Mar 9 (ST) The escalating conflict in West Asia and its impact on the country dwarfed all other topics in Parliament as lawmakers tried to keep pace with fast-moving developments in a war that had unexpectedly come to SL’s own doorstep. Opposition MPs had questioned the govt during the start of the Wednesday’s parliamentary proceedings on reports of an Iranian vessel being in distress near SL waters off Galle. Minister Vijitha Herath confirmed the matter, identifying the Iranian vessel as more..

Mar 9 (GV) In late 2025, as economic anxieties deepened and global climate warnings grew louder, a tropical storm formed over the Bay of Bengal and intensified into what would be known as Cyclone Ditwah. The storm moved across SL’s northern and eastern regions bringing torrential rainfall, severe flooding, landslides and widespread infrastructure damage. The numbers were staggering: approximately $4.1 billion in losses – nearly 4% of national GDP – 2 million people affected more..