Sri Lanka Customs has initiated a major technological overhaul of its vehicle clearance protocols to seal a loophole that previously allowed the tampering of motor vehicle data during registration.
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ECONOMYNEXT – Foreign agencies have committed 350 million US dollars to Sri Lanka for cyclone recovery work and more is expected, Deputy Treasury Secretary A K Seneviratne said as efforts are made to get the country back to normal. “There is a foreign exchange issue. There are commitment of 350 million dollars now, above the original 2025 budget, by donor agencies,” Seneviratne told the parliament’s Committee on Public Finance shortly before a 500 billion rupee supplementary estimate was approved. “We will get more in the future. In addition there is the re-building fund. The fund is also getting additional funds.…
ECONOMYNEXT – Sri Lanka’s rupee was quoted at 309.55/65 to the US dollar in the spot market Monday, slightly weaker from 309.50/60 at Friday’s close, dealers said, while bond yields were somewhat steady. Sri Lanka’s rupee has fallen from around 292 to the dollar in December 2024, amid record current account surpluses and narrowing budget deficits as the central bank selectively denied convertibility to private importers after buying dollars and creating liquidity. RELATED: Sri Lanka’s exchange rate depreciation by ‘Political Ravishment’ A bond maturing on 15.10.2029 was quoted at 9.49/55 percent. A bond maturing on 15.12.2029 was quoted flat at…
ECONOMYNEXT – Big names in the academic world and some macro-economists have called for Sri Lanka to default again after hurricane Ditwah hit the island, saying there is a ‘climate shock’. “The existing restructuring – modest, conditional and tied to uncertain macroeconomic outcomes – is inadequate to protect the vulnerable majority from recurrent climate and external shocks,” the academics said in a statement. “Therefore, we call for immediate suspension of Sri Lanka’s external sovereign debt payments, and a new restructuring that restores debt sustainability under the new circumstances.” Among the signatories is Joseph Stiglitz, one of several top advocates of…
ECONOMYNEXT – Sri Lanka as a nation, through its Treasury, is going with a begging bowl for ‘budget support’ and other dollar loans to the International Monetary Fund, the Asian Development bank and foreign governments to find dollars to repay debt. If not, the Treasury supposedly has to get ‘reserves’ from the central bank. Or so the macro-economists tell you. When reserves go down, and foreign and local investors get jittery. “Additionally, the receipt of approximately USD 350 million from the IMF’s fourth tranche significantly contributed to alleviating USD liquidity pressures, thereby supporting the maintenance of the treasury’s cash flow,”…
Sri Lanka Police have launched investigations into incidents involving ride-hailing taxi drivers operating in the Ella tourist area following complaints of threats and assaults, police said. According to the Police Media Division, complaints were received that drivers operating services such as PickMe and Uber were threatened and assaulted by local taxi drivers when entering the Ella tourism zone. The incidents were reported to the Ella Police Station, prompting an investigation. Police said a video circulating on social media claimed that officers had instructed ride-hailing drivers not to operate in the area. Authorities clarified that a complaint regarding police conduct was…
Israel’s security cabinet has approved the recognition of 19 new settlements in the occupied West Bank as the government continues its settlement expansion push. Far-right Finance Minister Bezalel Smotrich, a settler who proposed the move alongside Defence Minister Israel Katz, said the decision was about blocking the establishment of a Palestinian state. Israeli settlements in the occupied West Bank are considered illegal under international law. Saudi Arabia condemned the move. UN Secretary-General Antonio Guterres has said Israel’s “relentless” settlement expansion fuels tensions, restricts Palestinian access to land, and threatens the viability of a sovereign Palestinian state. (BBC) The post Israel…
A group of the world’s top economists – including the Nobel prize winner Joseph Stiglitz – have called for Sri Lanka’s debt payments to be suspended as it tackles the devastation caused by Cyclone Ditwah. More than 600 people were killed and hundreds of thousands of homes destroyed across the island, in what Sri Lanka’s president, Anura Kumara Dissanayake, called the “largest and most challenging natural disaster in our history”. The country’s $9bn (£6.8bn) national debt was restructured last year, after lengthy negotiations with creditors after the government defaulted on repayments in 2022. But development campaigners warned at the time…
Saudi Arabia has surpassed its record for the number of executions carried out annually for a second year in a row.
Five individuals were arrested after they behaved violently during a protest outside the Tissa Rajamaha Viharaya in Kankesanthurai, Jaffna.
The Ministry of Education, Higher Education and Vocational Education has requested a detailed report from the principal of Sirimavo Bandaranaike Vidyalaya following an incident at a recent colours award ceremony that has sparked widespread public debate.
It is still not too late for the government to get the Extended Fund Facility (EFF) amended with the International Monetary Fund(IMF) agreement considering the situation faced currently, Opposition Leader Sajith Premadasa said today.
National progress cannot be achieved through suspicion and mistrust of one another, but only when everyone fulfils the responsibilities entrusted to them with steadfast determination, unity of purpose and resilience in the face of any challenge, President Anura Kumara Dissanayake said today.
As a court sentenced him to jail in the Toshakhana-II case, former prime minister Imran Khan on Saturday issued a call for a nationwide protest besides announcing his intention to challenge the verdict in the Islamabad High Court.
A team of officers from the Elpitiya Divisional Criminal Investigation Bureau arrested a suspect in possession of a large stock of the drug ‘Ice’ during a raid conducted today.
Renowned Sri Lankan media personality, author, and cultural advocate Danu Innasithamby was honoured with the Global Excellence Award for Media Leadership, Cultural Diplomacy & Humanitarian Impact at the prestigious Golden Business Excellence Awards 2025, held at Cinnamon Life – Lumina Hall, City of Dreams, Colombo. Danu currently serves as Head of Channel at Hi TV, where he plays a pivotal role in shaping contemporary television content, nurturing new voices, and driving purpose-led programming that resonates with diverse audiences across the country. His influence extends across television, print, and digital platforms, positioning him as one of Sri Lanka’s most recognisable and…
Seven wild Asian elephants, including calves, were killed when a high-speed train collided with a herd crossing the tracks in north-eastern India, local officials say.
ECONOMYNEXT – A shock to Sri Lanka’s gross domestic product in 2026 from Cyclone Ditwah is likely to be at least partly offset by the effect of reconstruction, as well as a fast-normalizing economic activities, officials said. There are expectations that the loss of output would be limited to the first quarter, IMF Mission Chief Mission Chief Evan Papageorgiou said, though more time and data was needed to get a firm idea. Hopeful of Temporary Shock “This is something that we have to very carefully think and examine, particularly with how the response also plays out,” he said. “Of course,…
President Anura Kumara Dissanayake stated that national progress cannot be achieved through suspicion and mistrust of one another, but only when everyone fulfils the responsibilities entrusted to them with steadfast determination, unity of purpose and resilience in the face of any challenge. The President pointed out that by properly fulfilling the responsibilities entrusted to the President and the Government, to religious institutions, to the people and to the security forces, it is possible to swiftly rebuild the motherland with the pride and dignity that once belonged to us in history. The President invited everyone to work together towards this goal.…
The Ministry of Education, Higher Education and Vocational Education has sought a report from the principal of Sirimavo Bandaranaike Vidyalaya following an incident at a recent colours award ceremony that sparked widespread public debate after a video related to the event went viral. Ministry Secretary Nalaka Kaluwewa said the Ministry had turned its attention to the incident and would decide on appropriate instructions and further action after reviewing the report. The issue drew national attention after a student made a public announcement claiming she was deprived of an award during the colours night ceremony due to her absence from rehearsals.…