May 27 (NW) Former Prez Chandrika Kumaratunga has called for a comprehensive reform programme within the Buddhist clergy, stressing that the long-term preservation of Buddhism depends on safeguarding both the Dhamma and Vinaya (discipline). In a statement addressed to the Mahanayake Theras of the three Buddhist chapters, Kumaratunga said Buddhist history has shown that periods of crisis within the Sasana were more..

May 27 (NF) Japan has reaffirmed its longstanding commitment to Sri Lanka’s post-conflict recovery by extending over US$1.34 million (approximately Rs. 400 million) in fresh funding to support humanitarian demining efforts in the Northern and Eastern Provinces. The initiative marks another significant step in the ongoing effort to restore safety, dignity, and opportunity to communities still living with the legacy of decades of conflict. The funding, provided under Japan’s Grant Assistance for more..

May 27 (NW) Consulate General of SL in Los Angeles, together with the Sri Lanka Tea Board, organized a special Ceylon Tea Tasting Session on May 21 to mark International Tea Day 2026. The event brought together tea importers, diplomats, media representatives and tea enthusiasts to promote the heritage, quality and sustainability of Ceylon Tea. Delivering the welcome remarks, Consul General Achini Perera highlighted the importance of International Tea Day and the contribution more..

May 27 (FT) Back in Dec 2025, when the Telecommunications Regulatory Commission of SL (TRCSL) finally wrapped up the 5G spectrum auction, it felt like we had turned a corner. It was a massive win for the country, bringing in over LKR 15 billion for the state. More importantly, it felt like the formal start of a high-speed era that would finally connect the entire island. But as we move into the second quarter of 2026, that initial excitement is starting to feel like a memory. more..

May 27 (FT) The decision by Central Bank of SL to increase the Overnight Policy Rate (OPR) by 100 basis points to 8.75% is a significant and rather forceful monetary tightening measure. Such an increase generally reflects deep concern within the monetary authority regarding emerging inflationary pressures, exchange rate instability, excessive liquidity expansion, or deteriorating external sector conditions. Several important observations arise from this development: more..

May 27 (FT) Contradicting JVP General Secretary Tilvin Silva’s recent statements, Minister Nalinda Jayatissa said financial provisions had already been allocated for the conduct of Provincial Council elections, rejecting claims that the polls could not be held this year due to funding constraints. Dr. Jayatissa said the primary obstacle to holding the elections was the unresolved legal framework governing PC electoral system. more..

May 27 (FT) SL’s tourism industry regained its growth momentum in May despite earlier indications of moderating visitor inflows, with tourist arrivals during the first 24 days of the month rising 8.31% year-on-year (YoY). SL welcomed 113,755 visitors between 1 and 24 May, compared to 105,026 arrivals during the corresponding period last year. The improved May performance so far has also pushed the year-to-date (YTD) arrivals to 990,032 tourists, narrowing the overall decline to more..

May 27 (NW) Board of Investment (BOI) has launched a new digital investment platform aimed at attracting foreign investors by offering direct access to 30 structured, project-ready opportunities across multiple sectors. The platform, titled Ready to Invest, is now live via readytoinvestsl.com. The platform features investment opportunities across eight key sectors, including Tourism and Leisure, Manufacturing, Transport and Logistics, ICT, Innovation & Tech Park Development, more..

May 27 (FT) CB Dr. Nandalal Weerasinghe yesterday projected strong confidence in SL’s economic resilience, insisting that the latest 100 basis point policy rate hike was a proactive measure to safeguard macroeconomic stability and sustain the country’s recovery momentum amid rising global uncertainties. Addressing the post-Monetary Policy Review meeting media briefing, Dr. Weerasinghe said the economy remained more..

May 27 (NW) Three police lifeguards attached to the Sri Lanka Police Lifeguard Unit carried out a rescue operation at Kirinda beach on Monday (25), saving several teachers and students who were swept away by strong waves while bathing in the sea. The group, from a school in the Badalkumbura area, had travelled to Kirinda to participate in a co-curricular programme when the incident occurred. A 56-year-old teacher was first dragged into the sea by strong waves. more..

May 27 (Island) Sri Lanka’s banking sector has provided a collective and categorical assurance that it remains stable, resilient, and secure despite a few recent isolated incidents of financial fraud, emphasising that these developments do not pose a threat to the safety of customer deposits or the overall integrity of the financial system. While acknowledging that such incidents have understandably generated some concerns, the industry has reiterated that it is addressing more..

May 27 (Island) SL’s apparel exports recorded a softer performance in April 2026, with total exports declining by 4.72% to US$ 328.15 million, compared to US$ 344.40 million in April 2025. The decline was mainly seen across key traditional markets, with exports to the UK down 16.91%, the EU down 8.78%, and the USA down 3.46%. However, the 12.61% growth in other markets during April shows that there is still room to build momentum through greater market diversification. more..

May 27 (NW) Artist Sangeeth Wijesuriya says he was informed by a Govt Minister that IMF regulations would not permit a proposed US$ 23 million donation to be brought into SL following the election victory of Prez Anura Kumara Dissanayake. Wijesuriya recalled campaigning for Dissanayake during the Prez Election and publicly claiming that overseas supporters were prepared to financially support SL if he came to power. He said he was emotionally moved when discussions more..

May 27 (TM) Sri Lanka’s 11 national museums have cost the State more than Rs 4.5 billion to maintain over the past 11 years, but generated less than Rs 740 m in income during the same period, figures obtained by The Daily Morning under the RTI Act have revealed. A total of Rs 4,516.66 m had been spent on recurrent and capital expenditure from 2015 to 2025, while total income generated by the museums amounted to only Rs 738.16 m. more..

May 27 (FT) The Central Bank yesterday signalled confidence that recent distortions in the foreign exchange market were unlikely to recur after measures taken late last week restored liquidity and trading activity in the interbank market. Speaking after the CB’s monetary policy announcement, Governor Dr. Nandalal Weerasinghe said conditions in the market had normalised after discussions with bank treasurers and targeted steps to reactivate the interbank foreign exchange market, more..

May 27 (DM) Four members of the SL Under-19 cricket team who were arrested over allegations of secretly filming several female doctors who were in the shower inside their room in a Colombo hotel are exploring the possibility of a settlement in the case, the Colombo Magistrate’s Court was informed. When the matter was taken up before the Colombo Magistrate’s Court, the Narahenpita Police, who are conducting investigations into the incident, failed to submit the relevant reports to court. more..

May 27 (FT) Making a volatile situation worse, SL Customs has maintained the USD exchange rate used for import valuations at Rs. 351.17 for transactions between 25 and 29 May, according to a Customs circular, despite the rupee recovering in the interbank market since last Friday. The rate, published through an official Customs notice, comes after the CB said conditions in the foreign exchange market had stabilised following measures taken late last week to restore interbank liquidity and more..

May 27 (FT) Institute of Chartered Accountants of SL (CA SL) yesterday launched its inaugural Sustainability Summit at Cinnamon Life, drawing an unprecedented gathering of corporate leaders including C-suite executives, board members, regulators, and global sustainability experts. Held under the theme, Leading with a Sustainable Mindset: Building Resilience in an Uncertain World, the summit marked a defining moment in positioning the accountancy profession as a key driver of more..

May 27 (ST) The new Colombo Municipal Council School Canteen Food Environment Policy has an enforcement mechanism, which will be launched on June 10, with authorities firmly believing that positive change will be seen in children. Chief Medical Officer of Health Dr K. Sriprathapan said the CMC School Canteen Food Environment Policy will be launched next month. When questioned the difference between more..

May 27 (ST) Digital Ministry is set on a new survey with the World Bank to identify the current market situation for export in the IT industry. “Last year, when we came into power, the assessment was at US$ 1.2 billion export revenue generation, but with this assessment, we found that it’s in the range of $1.5 billion to $ 1.6 billion. There is a larger community of freelancers, providing digital services, while being in the country, and when adding all this income, it comes to about $1.9 b in income. more..

May 27 (DN) SL women produced a dominant all-round performance to crush Maldives by three straight sets 3-0 in their first round match of the Central Asian Volleyball Association (CAVA) Women’s Volleyball Championship played in Kathmandu, Nepal yesterday. SL side took control from the opening whistle and won the first set comfortably by 25-17 after showing sharp attacking and solid defence at the net. Maldives fought back strongly in the second set and matched SL more..

May 27 (ST) CB Governor Dr. Nandalal Weerasinghe said the IMF program provides sufficient flexibility for SL to make policy adjustments, including targeted subsidies and revisions to key performance targets, depending on evolving economic conditions. Dr. Weerasinghe stressed that the IMF-supported reform framework was not rigid and allowed authorities to respond to external shocks & domestic economic pressures more..

May 27 (FT) The People’s Bank announced the achievement of a strong and resilient financial performance for the quarter ended 31 March 2026, maintaining stability amidst heightened geopolitical tensions and continued global economic uncertainty. The Bank recorded a standalone Profit Before Tax (PBT) of Rs. 16.6 billion during the period, reflecting the strength of its underlying fundamentals, prudent balance sheet management, and disciplined risk management practices. more..

May 27 (Island) The Sri Lankan rupee is not merely depreciating. It is sending a warning. Once again, the country is being reminded that recovery is not the same as stability, and that an IMF programme is not a substitute for disciplined national economic management. Beneath the casual conversations of scholars lies a serious argument: Sri Lanka is not yet out of danger. The country may have escaped the worst of the 2022 collapse, but it has not escaped the habits that produced it: more..

May 27 (TM) The ousted selection committee led by Pramodya Wickramasinghe discarded former white-ball captain and batter Charith Asalanka from the 16-man T20 squad, as they named the respective Sri Lankan squads, which flew out for a multi-format tour of the West Indies yesterday. The already-removed selection panel while omitting Asalanka, 28, a veteran of 76 T20Is, handed the reins of the two white-ball squads instead, to seasoned top-order batter Kusal Mendis, more..

May 27 (FT) Global financial industry is undergoing one of the most profound transformations in modern economic history. Rapid technological advancement, digital innovation, artificial intelligence, and evolving consumer expectations are fundamentally changing the way individuals and businesses conduct financial transactions. Among the most influential developments in this transformation is the rise of digital payment platforms such as PayPal, which has revolutionised online financial services more..

May 27 (NW) SL Police says disciplinary action will be taken against traffic police officers who fail to facilitate payments through the GovPay system for on-the-spot traffic fines. DIG of Police W.P.J. Senadheera said the GovPay payment system was introduced in April 2025 to reduce inconvenience faced by motorists and save public time and economic costs caused by delays in paying traffic fines. more..

May 27 (FT) John Keells Holdings (JKH) reported a strong financial performance for FY2025/26, with Group EBITDA increasing 75% to Rs.80.01 billion, reflecting the contribution of investments made over the past several years and the continued performance of the Group’s established businesses. Group recurring EBITDA increased 71% to Rs. 78.05 billion, compared to Rs. 45.69 billion in the previous year, driven primarily by Retail, Transportation and Leisure. Recurring profit before tax rose more..

May 27 (Island) Parliamentary Select Committee (PSC) on Reviewing Election Laws, which recently had its first meeting under the chairmanship of Minister of Public Admin, PCs & LG, Prof. A.H.M.H. Abayarathna, has reportedly decided to seek public views on the election law review process. Reviewing election laws as well as modernising them to reflect present-day needs is a long-felt need. PSC deserves the fullest public cooperation. The PSC has been tasked with reviewing election laws, more..

May 27 (CT) It is difficult to see how a society’s cultural personality and original identity could remain unadulterated after surviving centuries of colonial rule, religious conversions, and economic exploitation. Ancient Ceylon has been portrayed to our children, especially Sinhalese Buddhist generations, as one whose prime ruler was a King who followed the advice and tenets of the Maha Sanga, the clergy of Buddhism. One cannot argue against that overarching narrative of more..

May 27 (SO) SL rupee has long behaved less like a stable currency and more like a high-altitude barometer of national anxiety. Just when the country thought it had navigated the worst of its 2022 historical macroeconomic volatility, entering 2026 with a sense of fragile equilibrium and hard-won stability, the currency market reminded everyone of its capacity for sudden, violent disruptions. During the third week of May 2026, the rupee went on a roller-coaster ride that triggered more..