May 18 (FT) Business leader Hanif Yusoof has announced plans to resign as the Governor of the Western Province to better focus as Prez AKD’s Special Envoy on Foreign Direct Investment (FDI). Yusoof was appointed Western Province Governor in late Sept 2024, whilst in November last year, Hanif was also appointed as a Special Envoy for FDI. Yusoof said some time ago, he conveyed to the Prez the desire to step down from the role more..

May 18 (TM) Sri Lanka's Colombo Stock Exchange (CSE) has recorded over Rs. 25 billion in net foreign outflows from the beginning of the year through April (YTD), while total net outflow within the month of April alone was Rs. 5.3 billion, according to Ambeon Securities' monthly report for April. Describing capital market performance, the report stated: "Total net foreign outflow for April 2026 was Rs. -5,330.78 million. Year-to-date net foreign flow is Rs. -25,130.94 million." more..

May 18 (DN) It has been revealed that out of the 92 shops leased at the Colombo Floating Market project which was launched with great fanfare in 2014, only 16 shops are currently operational. This information was uncovered during a special field inspection conducted by officials from Transport, Highways & Urban Development Ministry along with the UDA. This shopping complex, which had been allocated to traders by the UDA under five-year lease agreements, has now fallen into a state of more..

May 18 (FT) Dipped Products (DPL), a subsidiary of Hayleys, officially inaugurated a series of major capacity expansion projects at its Kottawa manufacturing facility recently, marking a significant step forward in supporting export growth alongside advancements in robotic automation, efficiency, and sustainability. Rs. 2.3 billion investment is expected to enhance DPL’s capacity to meet rising global demand for specialised protective gloves, strengthening SL’s position in high-value more..

May 18 (FT) Dialog Axiata Group has in the first quarter of FY26 delivered revenue growth of 9% year-on-year (YoY) on the back of strong performances in mobile, fixed, and digital pay television businesses as Group revenue reached Rs. 47.3 billion, despite the continued strategic scaling down of the low-margin international wholesale business. On a quarter-on-quarter (QoQ) basis, revenue increased by 2% supported by data revenue growth and advertising revenue more..

May 18 (TM) Proposed business evaluation of the Sapugaskanda Oil Refinery is not a preliminary step towards a Public-Private Partnership (PPP), but a Build-Operate-Transfer (BOT) arrangement structured around project financing, according to CPC Managing Director Dr. Mayura Neththikumarage. Clarification was issued in the context of a Request for Proposal (RFP) formally published by Dept Consultant Procurement more..

May 18 (SO) The narrative of SL’s economic recovery by successive Govts exists in the columns of spreadsheets presented in Washington, in the press releases of the Central Bank, and in the polite handshakes that seal the progress of the IMF EFF. In this numerical universe, mathematics of survival look solved. Gross int'l reserves have been painstakingly rebuilt from zero; headline inflation, which once threatened to touch triple digits in 2022, has been brought down to single numbers; more..

May 18 (Island) The Director General of the CIABOC announced last month that amendments to the Anti-Corruption Act of 2023 were on the cards so as to restrict public access to the assets and liabilities declarations filed with the Commission. The information, released in 2025, caused profound embarrassment to the present govt, but was received very well by the public and any attempt to restrict that information flow at this stage, may prove to be very unpopular. more..

May 18 (SO) The Basketball Team of the School for the Deaf, Ratmalana recorded a historic victory in the U-15 Basketball Tournament, organised by the SL Schools Basketball Association. The School for the Deaf cagers had the better of Science College, Mount Lavinia in the final encounter to clinch the Under-16 Tier 2 All-Island Basketball Tournament. This was truly an inspiring moment for school basketball in Sri Lanka. The players couldn’t hear the final whistle but they made history as more..

May 18 (Island) The govt has realised the need for a decisive intervention to curtail the burgeoning import bill, which is a drain on the country’s foreign currency reserves. It has imposed a 50% surcharge on custom duty on vehicle imports for three months. Vehicle prices are bound to increase substantially. Explaining why the govt decided to impose a duty surcharge on imported vehicles, Deputy Minister Dr. Anil Jayantha Fernando has said import expenditure has increased sharply to USD 2 billion more..

May 18 (TM) Prez Anura Kumara Dissanayake has signalled that further fuel price increases may become unavoidable if global oil prices continue to rise, warning that the current subsidy-driven pricing system is placing an unsustainable burden on the CPC. Addressing the Nuwara Eliya District Special Coordinating Committee weeks after the latest fuel price revision, the President said the Govt’s objective was more..

May 18 (ST) It would be hard to choose which political drama played out this week in Sri Lanka invoked the most nausea. On the one hand, we had former Prez Mahinda Rajapaksa’s supporters cheering and shouting in front of the offices of the CIABOC as their demi god fluttered his jewel bedecked hand. This was when the former Prez was summoned to be questioned over a typically sleazy $2 million bribe in connection with the procurement of Airbus aircraft for SriLankan in 2013. more..

May 18 (TM) SL is once again watching the US dollar inch upwards against the rupee, and with it comes a familiar unease that has not fully faded since the economic crisis of 2022. Exchange rate may appear, on the surface, to be a matter for traders and policymakers alone, but its movement is felt far beyond the financial pages. At present, the rupee is under pressure from a combination of renewed import demand, external price shocks and gradual return to a more flexible exchange more..

May 18 (SO) Justice Minister Harshana Nanayakkara oversees a portfolio at the centre of SL’s legal and institutional reform agenda, as the Govt grapples with pressures on prisons, courts, and broader justice sector capacity. He spoke about ongoing challenges such as overcrowded prisons, delays in the court system, and resource constraints within key institutions, while outlining steps being taken to improve efficiency, transparency, more..

May 18 (CT) NDB FRAUD in terms of its IMPLICATIONS to the country is the most dangerous FINANCIAL FRAUD in recent times – more dangerous than even the Bond Scam. This is because it affects the ENTIRE Banking/Financial system due to CBSL COLLUSION with the potential to undermine SL’s CREDIBILITY. The question is why powerful interests led by REGULATORS are DESPERATE to BURY this FRAUD? They have DEVIOUSLY introduced DISTRACTIONS more..

May 18 (Island) Last year, Open Society Foundations (OSF) launched the Seven Cities Fellowship, focusing on public intellectuals from seven countries: Argentina, Indonesia, Lebanon, Nigeria, Sri Lanka, Taiwan, & Tanzania. In March 2025, OSF unveiled its first cohort of Fellows. Among them were filmmakers, novelists, anthropologists, and artists. Among them was a law student from Sri Lanka, Uthpala Wijesuriya. Uthpala is an interesting character. more..

May 17 (AD) More than 5,200 individuals have been affected by the prevailing adverse weather conditions across Sri Lanka, according to the DMC. 5,242 individuals from 1,574 families in 65 Divisional Secretariat divisions across 14 districts have been impacted by the ongoing heavy rains. The worst-affected district is Puttalam District, where 1,488 people from 543 families have been affected, while 162 individuals from 52 families are currently staying in five safe locations. more..

May 17 (AD) A complaint has been lodged with the police in connection with the Wanawasala train derailment, according to the Railway Department’s Superintendent of Train Operations, Asanka Samarasinghe. Further details have emerged regarding the train derailment that occurred in the early hours of today (16) on the railway line between Kelaniya and Wanawasala railway stations. Samarasinghe stated that, according to preliminary information, it has been revealed that more..

May 17 (TM) The Govt on Friday confirmed that approximately Rs. 80 million linked to a payment by SriLankan Airlines was transferred to an incorrect overseas bank account following a cyber compromise involving a foreign service provider. Deputy Minister Janitha Kodithuwakku said that the incident had occurred in March after the email system of a Dubai-based supplier was allegedly hacked, resulting in altered more..

May 17 (EN) SL has imposed a temporary 50% surcharge on Customs Import Duty on new personal vehicles for three months effective May 16, aiming to restrict imports and reduce the depreciation of the rupee currency, Deputy Minister Anil Jayantha said. With the new surcharge, vehicle buyers who place their order within the next 3 months through Aug 15 will pay 45% Customs Import Duty compared to the current 30%. “The objective of this tax is to delay the import of new personal vehicles by 3 mo” more..

May 17 (DM) Deputy Finance Minister Anil Jayantha has dismissed claims that vehicle prices would increase by 150% following the govt’s latest decision to impose additional taxes on vehicle imports, describing the reports as completely false. Dr. Jayantha said misinformation was being circulated regarding the new surcharge imposed on vehicle imports. He explained that the measure is a temporary three-month surcharge intended to delay non-essential private vehicle imports more..

May 17 (ST) Police are awaiting the Govt Analyst’s report on the death of a Welikada Prison inmate who had been sentenced to death over the 2022 murder of former MP Amarakeerthi Athukorala. The inmate, who was among twelve people sentenced in connection with the murder, died after allegedly falling from a building inside the prison premises on May 11. The inmate sustained critical injuries in the fall and was rushed to hospital, where he was pronounced dead on admission. more..

May 17 (ST) The delay in the administration of justice is the “slow poison of our entire system of justice” and a key reason for the gradual deterioration of the public’s faith in the country’s justice system, said SC Justice Yasantha Kodagoda. He made these remarks during his address at the 52nd Convocation of the BASL on May 10. In his address, Justice Kodagoda emphasised that he does not think that those who practise in courts are necessarily responsible for the delay. more..

May 17 (SO) Govt will defuse a growing financial crisis in SL’s renewable energy sector, with over half of the nearly Rs. 10 billion owed to renewable power suppliers expected to be settled within the next two weeks, energy officials said yesterday. This is part of the Govt’s broader strategy to generate 70% of the country’s electricity demand through renewable energy sources by 2030 while reducing its dependence on imported fossil fuels. more..

May 17 (DM) Sri Lankan universities and international health partners have joined forces to strengthen tobacco control and smoking cessation efforts in the country, with Health Deputy Minister Dr. Hansaka Wijeymuni highlighted that reducing tobacco consumption is not only a public health goal but also a national development priority. The remarks were made during a discussion and media briefing on Strategies to Improve Tobacco Use and Smoking Cessation in SL held yesterday more..

May 17 (DM) President of the World Chess Federation (FIDE), Arkady Dvorkovich, arrived in Sri Lanka on Friday for a two-day official visit to attend the opening ceremony of the Commonwealth Chess Championship as the chief guest. The championship is scheduled to be held from May 16 to May 26 at the Citrus Waskaduwa, with the participation of around 550 players representing 14 Commonwealth countries. Dvorkovich arrived at BIA at 7.40 a.m. from Moscow, onboard Aeroflot flight SU-288. more..

May 17 (ST) CPC took delivery of its most recent two shipments of diesel on May 6 and May 10 this year, and there are no consignments arriving in the next few weeks, data obtained from CPC shows. CPC Managing Director Mayura Neththikumarage said the country has sufficient stocks of fuel for now. But the data indicates that, while prices have come down from the peak at which the corporation purchased, they remain high. Diesel, in particular, has cost the CPC steeply. more..

May 17 (AD) During preliminary interrogations of Ousmand Gunasekera, also known as Gampaha Ousmand, who was arrested in connection with the murder of Ganemulla Sanjeewa, it was revealed that he had been managing the local money laundering operations of underworld figure Kehelbaddara Padme. Ousmand Gunasekera was arrested on May 13 by the Colombo Crimes Division (CCD) for allegedly providing the firearm used in the murder of Ganemulla Sanjeewa. more..

May 17 (AD) SriLankan Airlines has issued a clarification regarding two separate incidents of financial transactions involving an erroneous payment linked to a compromised email account of a service provider in the UAE and an alleged misappropriation of funds in India, confirming that investigations currently underway. A payment amounting to AED 974,000 in the UAE was fraudulently redirected after email account more..

May 17 (AD) SL Police has issued a public awareness statement highlighting the rising reports of teenage pregnancies in Sri Lanka and urging stronger family and community engagement to protect children. One of the key sociological factors contributing to teenage pregnancies is the gradual erosion of emotional bonds within families. It emphasizes that parents and guardians should pay close attention to maintaining strong and supportive relationships with their children. more..

May 17 (DM) Former Foreign Minister Ali Sabry has backed the Sri Lankan govt’s decision to impose a temporary 50% surcharge on vehicle import duties, calling it a prudent and timely measure to protect the country’s fragile foreign exchange reserves amid growing global uncertainty. In a statement shared on social media, Sabry said he had warned since the beginning of the ongoing global conflicts that the war could continue longer than anticipated by the US and Israel, increasing pressure on more..

May 17 (TM) National Cricket Selection Committee Chairman Pramodya Wickramasinghe says it is high time for Sri Lanka to return to winning ways as they gear up for their first multi-format tour of the West Indies in five years early next month. During the series, which is scheduled to get underway on 3 June, tourists will be seeking their maiden series triumphs across Tests, ODIs, and T20Is on Caribbean soil. more..