May 24 (CT) The week that ended witnessed the Govt face an exceptionally challenging one as it asserts its position in governance, albeit with serious concerns in place. From its handling of the economy with the crash of the rupee, the commemoration of the end of the war bringing with it its own baggage of nationalistic politics that the NPP has long strived to stay above politically motivated narratives with, to clear conflicts within the Govt, more..

May 24 (TM) Three of the most important men entrusted with steering Sri Lanka’s economy spent the past two weeks painting three entirely different pictures of the same country. One, Prez Anura Kumara Dissanayake who is also the Finance Minister, effectively called for the nation to move into economic safe mode, warning that difficult choices and reductions in spending, including pressure on critical imports like fuel, may be necessary to avoid greater pain. more..

May 24 (CT) It is to the credit of the Govt that it exhibits the political maturity that removes itself from playing politics with the end of a war that denied this country its rightful place as a developed country, two generations of a right to a secure future and people from its two main racial groups the peace and understanding between. Politicians from both spectrums of the nationalist debate; facing the threat of losing the political platform that served them over three decades of providing more..

May 24 (TM) The depreciation of the SL Rupee against the US Dollar is fast becoming the first major economic test for Prez AKD and his JVP-led NPP Govt. Speaking in Batticaloa last week, Prez attempted to reassure the public that the Govt was taking steps to avoid another financial collapse, while admitting that pressure on the dollar market had intensified. His remarks reflected growing concern within the administration over more..

May 24 (CT) Pardonable Crimes and Forgivable Sins. It is indeed a provocative title. Its deeper meaning could easily be misinterpreted, while its superficial message might seem utterly meaningless. Nevertheless, I chose to use such a paradoxical phrase for this column. Modern society, however, has introduced a new sociocultural dimension to history: a veil of depository. Its existence can be traced to the initial awakenings of medieval Western Europe, passed down more..

May 24 (SO) Int'l investigators are working with the SL authorities to probe several alarming incidents of cybercrime that gained worldwide attention, according to recent media reports. Among them are the cyber theft of US$ 2.5 million from SL Treasury funds in one instance and a US$ 625,000 payment to the US Postal Service (USPS) which had not reached the intended recipient. The two incidents received wide coverage in the local and international media, with political and financial analysts more..

May 23 (FT) Deputy Minister Dr. Anil Jayantha Fernando defended SL’s flexible exchange rate regime and independent monetary policy framework amid mounting pressure on the rupee, rejecting comparisons with the 2022 economic crisis and dismissing speculation over vehicle import restrictions, IMF-directed currency moves and broader economic instability. Dr. Fernando said the economy continues to function normally with more..

May 23 (EN) State-owned fuel retailer Ceylon Petroleum Corporation’s (CPC) oil import bill for May this year has risen to US$521 million compared to US$152 million in December last year due to the Middle Eastern conflict, Deputy Finance Minister Anil Jayantha said. Sri Lanka does not have large storage capacity to hold fuel and crude to face sharp price fluctuations. The global oil price has spiked sharply since the start of the US/Israel bombing in Iran since February 2028. more..

May 23 (EN) Former Minister Manusha Nanayakkara has appealed to expatriates to send foreign remittances to SL through licensed financial institutions. “Send the dollars you earn to SL legally through the banking system,” he said on social media. “You will get a good rate with undials. But if you don’t send money legally and use undials, even your own family members will suffer.” Nanayakkara said expats had helped rebuild the economy in the past through their hard earned remittances. more..

May 23 (AD) A group of 21 SL nationals, who had been accused of various crimes in Sri Lanka and had fled to the UAE, have been deported back to the country today (22) after being detained by UAE’s security authorities. The group had been arrested for allegedly possessing drone footage, missile-related videos, and photographs from Middle Eastern conflict zones on their mobile phones. They had reportedly been held in remand custody more..

May 23 (FT) Inland Revenue Dept (IRD) announced the collection of over Rs. 1 trillion in tax revenue as of 18 May, marking a major milestone in the country’s fiscal performance and revenue mobilisation efforts. Dept said the achievement would strengthen SL’s financial stability and support the continued delivery of public services. IRD Commissioner General Rukdevi Fernando commended taxpayers for their contribution toward reaching the record revenue milestone. more..

May 23 (NW) Sanath Jayasuriya has resigned from his role as Consultant to SLC’s High Performance Centre, effective from the end of this month. In a letter addressed to the newly appointed Cricket Transformation Committee, Jayasuriya said he had become aware that certain members had raised concerns regarding both his appointment to the High Performance Centre and his position as President of the Matara District Cricket Association, citing a possible conflict of interest. more..

May 23 (FT) The Colombo stock market yesterday closed in the green for the third consecutive session, ending a week characterised by subdued investor sentiment and concerns over the exchange rate. During the week, the ASPI had declined 4.26% or 976.11 points while the active S&P SL20 fell 3.55% or 223.22 points. Yesterday, the ASPI made a strong recovery, closing up 0.44% or 95.87 points at 21,929.64 while the S&P SL20 ended up 0.37% or 22.31 points at 6,061.02. more..

May 23 (AD) Chief Health Epidemiologist Dr. Palitha Karunapema says that viral meningitis is currently spreading among schoolchildren in certain areas, but there is no need for any undue fear. He noted that the disease, which was first reported from Deniyaya, has now been detected in several other areas as well. Accordingly, 28 cases have been reported from Diyatalawa, 13 from Welimada, and 25 from Rikillagaskada. He confirmed that the medical condition has been identified as viral more..

May 23 (FT) ITAK MP Shanakiyan Rasamanickam called for a bipartisan national response to mounting economic pressures, warning that rising currency volatility, inflation and energy costs were placing growing strain on households and businesses. Rasamanickam questioned the Govt on what immediate relief measures would be introduced to support low- and middle-income families affected by the depreciation of the rupee, rising fuel more..

May 23 (TM) The Family Health Bureau (FHB) has said that while positive trends such as the lowering of teen pregnancy are reported, on the other hand, the instances where the youth are going for risky experimental sexual behaviours are not seen to have reduced. Consultant Community Physician at the FHB, Dr Chiranthika Vithana said that due to the fact that an increase is seen in taking part in consultancy and awareness programmes, the teen pregnancy rate has gone down. more..

May 23 (BP) The SL Embassy in Bangkok marked International Tea Day with a ceremony promoting Ceylon Tea. The Sri Lankan Embassy and the Sri Lanka Tea Board jointly hosted the International Tea Day celebration on Thursday, an annual event honouring tea as a globally cherished beverage. SL Ambassador to Thailand, Wijayanthi Edirisinghe, said the embassy had organised the event for a second consecutive year to promote Ceylon Tea as a key symbol of Sri Lanka's national identity. more..

May 23 (DN) SL will field a strong and determined side led by dynamic number eight Lasindu Karunathilaka when they take on the powerful Hong Kong China national rugby union team in their Asia Rugby Men’s Championship 2026 clash at the Racecourse Grounds tomorrow at 3 pm, with the hosts aiming to end their long losing streak against the visitors and produce a major upset on home soil. 48th-ranked SL national rugby union team Tuskers face a massive challenge against more..

May 23 (FT) Commercial Bank of Ceylon yesterday said it has become one of the first banks in Sri Lanka to enter into an agreement to establish a fully-fledged branch at Port City Colombo, marking a significant step in the bank’s strategic expansion into the country’s emerging international financial hub. The agreement was signed by Commercial Bank Managing Director/CEO Sanath Manatunge and CHEC Port City Colombo Ltd. Managing Director Xiong Hongfeng. more..

May 23 (NW) Former Sports Ministers Harin Fernando and Dayasiri Jayasekara have raised concerns over the recent changes to SLC’s national selection committee, claiming the move is illegal and risks further politicising cricket administration. Fernando said the newly appointed Cricket Transformation Committee appeared to have made its first major move by changing the selectors, instead of focusing on wider structural more..

May 23 (DM) Former Minister Bandula Gunawardena had shared a video on his official Facebook page showcasing his experience riding in a Waymo self-driving vehicle in Hollywood, highlighting the growing use of autonomous transport technology. In the video, Gunawardena is seen entering an autonomous taxi to travel to a destination within Hollywood while accompanied by his family. During the journey, he explained that they were travelling through an area known for more..

May 23 (NW) The Colombo Additional Magistrate’s Court yesterday ordered the release of Aura Lanka Company Chairman Viranjith Thambugala from a case filed by the CID over the alleged misappropriation of Rs. 70 million in connection with the purchase of a helicopter. Colombo Additional Magistrate Darshika Premaratne issued the order after being informed that the Attorney General had advised that there was no basis to pursue criminal proceedings against the suspect. more..

May 23 (DN) Defence Deputy Minister Aruna Jayasekara stated that they are considering releasing the remaining land to the Forest Conservation Dept out of the 245.9 hectares currently used by the Navy in the Mullikulam area, while retaining the areas that are important for national security and necessary for the Navy. Responding to questions raised by Vanni District ITAK MP Thurairasa Ravikaran during more..

May 23 (FT) China Harbour Engineering Company (CHEC) has achieved a major construction milestone in the China-aided affordable housing project in Colombo, with the successful topping out of the Maharagama site on 12 May 2026. The milestone marks the completion of the main structural works for 112 housing units, forming part of a wider 1,996-unit housing development designed to support low-income families in SL. Funded by the Govt of China under Belt & Road initiative more..

May 23 (FT) Sri Lanka’s smallholder tea sector received a major digital and knowledge-sharing boost with the official handover of new Regenerative Agriculture Digital Resource Centres to the Tea Smallholdings Development Authority at a ceremony held on 20 May at the Ratnasiri Wickramanayake National Training Centre. The initiative, launched in conjunction with the 6th Asian Tea Alliance, was aimed at accelerating the modernisation of the small tea estate sector through more..

May 23 (FT) The much looked forward to Build SL Housing and Construction Int'l Exhibition held for the 21st time kicked off yesterday at the BMICH under the auspices of Transport, Highways, and Urban Development Ministry Secretary Kumudu Lal Bogahawatta. The Build SL Housing and Construction Int'l Exhibition which is now a premiere exhibition in the construction sector has been a platform for both leading local and international manufacturers to showcase their products. more..

May 23 (CT) Dr. Swasti Rao, Associate Professor and Associate Dean (Global Initiatives) at the Jindal School of Int'l Affairs, Consulting Editor for International and Strategic Affairs at ThePrint, Non-Resident Fellow at Eastern Circles, and consultant to India’s Defence Industrial Corridor under the Ministry of Defence, speaks to Ceylon Today on India’s evolving geopolitical and strategic engagement in the Indian Ocean region, SL’s growing ties with India and other key more..

May 23 (FT) The rupee appreciated yesterday after the Central Bank of SL (CBSL) moved to calm a nervous and sentiment-driven foreign exchange market following sharp depreciation earlier this week triggered by panic dollar demand and delayed exporter conversions. The interbank US dollar spot market buy/sell rate eased to Rs. 329/335 yesterday, with the rupee strengthening from Thursday’s Rs. 331/348, which marked more..

May 23 (Island) The gradual depreciation of the Sri Lankan rupee is one of the most serious economic signals facing the country today. It is not merely a change in the exchange rate. It is a powerful reflection of a nation’s economic strength, fiscal discipline, investor confidence, political stability, and the future hopes of its people. When a country’s currency loses value, it indicates deeper weaknesses in production capacity, foreign exchange earnings, economic management, more..

May 23 (FT) Picture a SL manufacturer trying to supply some raw materials to a BOI industry. Yet every time he quotes, he loses the order to a supplier abroad. Not because the foreign product is better. Not because it is cheaper to make. But because the SL Govt adds eighteen percent to his price as VAT the moment he quotes, while the same item arrives from abroad at zero VAT. When a BOI exporter imports a raw material from abroad, the input enters at zero VAT & zero customs duty. more..

May 23 (TM) There comes a point where fiscal spreadsheets must yield to the reality of the kitchen table. For months, the public has been treated to a steady stream of bureaucratic optimism. We are told of stabilising reserves, structural benchmarks, and the necessity of fiscal discipline. But walk into any local market, or any small boutique in a rural village, and a vastly different, terrifying story unfolds. The public is currently being crushed under a relentless, multi-pronged assault on more..

May 23 (FT) The day before the Beijing summit began on 14 May, I published a commentary on this page titled Winning Without Fighting, examining the strategic role the Colombo administration may play in advancing its proclaimed National Renaissance. I argued that the modern contest between the US and China is increasingly defined not by battlefield victories, but by strategic positioning, patience, and narrative control. That observation deserves further examination after more..