ECONOMYNEXT – Sri Lanka’s rupee opened at 310.00/25 to the US dollar in the spot market Wednesday, weaker from 310.00/310.20 the previous day, dealers said, while bond yields were broadly steady. Sri Lanka’s rupee depreciated in 2025 amid record current account surpluses and improvement in budget, denying the usual scapegoats macro-economists point to after engaging in monetary debasement. Read more: Sri Lanka debt grows at double the deficit up to 3Q amid rupee depreciation Sri Lanka central bank buys $90mn in November, rupee depreciates The telegraphic transfer rates for the American dollar were 306.4000 buying, 313.4000 selling; the British pound…
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ECONOMYNEXT – Sri Lanka’s interest rates have edged up over 2025, reducing the risk of a second sovereign default, data show, though reserve collections fell short of initial projections amid insufficient deflationary policy, analysts have said. Sri Lanka cut rates in May 2025 amid warnings that the operating framework of the central bank was moving on well-beaten paths of ‘flexible inflation targeting’ where currency crises were triggered in the second year of International Monetary Fund programs when private credit recovered after rate cuts two years earlier triggered the program itself. The prime lending rate, published by the central bank was…
Photo courtesy of Conservation Mag Another round of talks on the Wattamadu grassland issue has ended without a solution. The final round of discussions between the dairy farmers who claim the grassland and the paddy farmers who seek to cultivate 300 acres during the maha season was chaired by National List MP Abubakar Adambawa. Following the meeting, a letter issued by Ampara District Secretary Chinthaka Abeywickrama stated that in accordance with the 2024 Cabinet Memorandum on resolving land issues through sustainable forest management, the Inter-Ministerial Committee has approved the release of the 200.5 hectare land block known as old Wattamadu,…
The Bar Association of Sri Lanka (BASL) has requested President Anura Kumara Dissanayake to ensure that future promotions within the Judiciary are made on the basis of seniority, in line with long-established practice.
The Ministry of Defence has announced an extension of the deadline for renewing firearms licences for individuals and institutions for the year 2026.
The Inland Revenue Department has succeeded in collecting Rs. 2,203 billion in revenue in 2025, the highest amount recorded in its 93-year history.
Sri Lanka’s recovery will not be secured by caution alone. It will be secured by bold, strategic choices that multiply economic opportunity. India’s proposed Palk Strait Bridge is one such choice—one that has the potential to transform Sri Lanka’s trade, tourism, and long-term growth trajectory many times over.
Iran has promised to respond harshly to any aggression after United States President Donald Trump threatened further military action, should Tehran attempt to rebuild its nuclear programme or missile capabilities.
A 16-year-old girl was hospitalized with injuries following a drive-by shooting in the Bodhiyawatta area of Saranankara Road, Kohuwala, Police reported According to investigators, two unidentified assailants arriving on a motorcycle opened fire on a residence in the neighborhood before fleeing the scene. Preliminary investigations suggest the shooters may have targeted the wrong location. Authorities believe the intended target was a house adjacent to the one where the shooting occurred. The injured teenager was rushed to a nearby hospital for treatment. Her current condition has not been disclosed by medical officials. (Newswire)è The post School girl injured in Kohuwela shooting…
An investigation has been initiated following the discovery of an inappropriate term referenced in the introduction of a Grade 6 English module, Education Ministey Secretary Nalaka Kaluwewa said.
Thieves used heavy drilling equipment to break into a vault at a high-street bank in western Germany and stole an estimated €30 million ($35 million) in cash, gold and jewellery, police said Tuesday. The overnight heist targeted a branch of Sparkasse in the city of Gelsenkirchen, where burglars drilled through the vault wall and forced open more than 3,000 safe deposit boxes. A police spokesman described the break-in as “very professionally executed,” likening it to the Hollywood film Ocean’s Eleven, German and international media reported. Authorities said the crime was discovered in the early hours of Monday after a fire…
The Ceylon Electricity Board (CEB) has provided an update on the status of generators at the Lakvijaya (Norochcholai) Coal-fired Power Plant.
Agriculture and Livestock Deputy Minister Namal Karunaratne announced that Rs. 4,983 million has been paid as compensation to 67,460 paddy farmers whose farmlands were destroyed by Cyclone Ditwah.
The Colombo Stock Exchange (CSE) delivered a strong performance on Tuesday, with both key indices posting significant gains amid heightened trading volumes and improved turnover levels.
Opposition Leader Sajith Premadasa today met UNP seniors to discuss the challenges facing the nation.
Sri Lanka’s Ministry of Foreign Affairs has launched an inquiry into the case of a local woman and her child stranded in Dubai for reportedly more than three years following a viral social media plea for help. The Deputy Minister of Foreign Affairs Arun Hemachandra confirmed Tuesday that officials have initiated a formal investigation after the woman posted a video to Facebook appealing directly to the President and Foreign Minister for repatriation. In the post, the woman stated she has been unable to leave the United Arab Emirates since her husband died following a lengthy hospitalization for a heart attack.…
ECONOMYNEXT – Sri Lanka’s Cabinet of Ministers has approved the installation of four automatic passenger clearance gates at the departure terminal of Bandaranaike International Airport (BIA) in 2026, aiming to enhance efficiency and match facilities in the terminal. The decision follows the successful completion of four similar gates in the arrival terminal under a Japanese-funded project. Initiated in 2023 with a 1,170 million yen (approximately US$8 million) grant from Japan through the International Organization for Migration (IOM), the “Preparation for Border Infectious Disease Control in Southeast Asian Countries” project upgraded BIA to international standards for health security and passenger processing. The Japanese…
ECONOMYNEXT – Sri Lanka’s rupee closed at 310.00/310.20 to the US dollar in the spot market Tuesday, weaker from 309.85/95 on Monday, dealers said, while bond yields closed broadly steady. Sri Lanka’s rupee depreciated in 2025 amid record current account surpluses and improvement in budget, denying the usual scapegoats macro-economists point to after engaging in monetary debasement. Read more: Sri Lanka debt grows at double the deficit up to 3Q amid rupee depreciation Sri Lanka central bank buys $90mn in November, rupee depreciates A bond maturing on 15.12.2026 closed flat at 8.40/70 percent. A bond maturing on 15.02.2028 closed at…
The Inland Revenue Department has succeeded in collecting Rs. 2,203 billion in revenue in 2025, the highest amount recorded in its 93-year history. This represents a surplus of Rs. 33 billion over the revenue target for the year and a 15 per cent increase compared with the revenue collected in the previous year, stated Commissioner-General of Inland Revenue Ms Rukdevi Fernando. She made these remarks at a discussion held this morning (30) at the Department’s auditorium under the patronage of President Anura Kumara Dissanayake. Marking the first occasion in the 93-year history of the Inland Revenue Department that a President…
The United Arab Emirates has strongly denied any involvement in actions that could threaten Saudi Arabia’s security, rejecting accusations that it played a role in supporting southern separatists in Yemen. In a statement issued by its Foreign Ministry, the UAE said it “categorically rejects any attempt to implicate it in the tensions between Yemeni parties” and condemned allegations that it pressured or directed any Yemeni group to carry out military operations that could endanger the security of the Saudi Arabia. “The United Arab Emirates affirms its constant commitment to the security and stability of the sister Kingdom of Saudi Arabia,…