Urbanspace, an award-winning Sri Lankan luxury interior design brand, has proudly represented the country on the international stage by being named Winner – Best Condo Interior Design (Sri Lanka) at the PropertyGuru Asia Property Awards 2025, held in Bangkok, Thailand on 12th December 2025. The award was presented for the outstanding interior design of the Pentara Model Apartment, recognising Urbanspace’s ability to deliver refined, contemporary interiors that elevate modern urban living. This prestigious recognition places Urbanspace among Sri Lanka’s foremost interior design practices, celebrating not only a single project, but the country’s growing design capability and creative excellence within Asia’s…
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President Anura Kumara Dissanayake on Friday outlined a wide-ranging disaster recovery and livelihood restoration programme in Parliament, announcing the largest supplementary estimate in recent history as the government moves to rebuild communities affected by recent floods and landslides. Presenting a Rs. 500 billion supplementary estimate, the President said the funds would be deployed without increasing the national debt ceiling and with safeguards to manage inflation and exchange-rate pressures. He said total allocations for recovery and livelihood support now exceed Rs. 700 billion. Here are 11 key announcements by the President. 1. Rs. 500 billion supplementary estimate The government presented a…
By Ankit K – Asst Professor in International Relations, National Defence University, India India–Sri Lanka economic relations have evolved from a security-driven partnership into a comprehensive framework for shared prosperity. Anchored by the 2000 India-Sri Lanka Free Trade Agreement, bilateral trade, investment, tourism and development cooperation have expanded steadily. India’s USD 5 billion in assistance, crisis support, and growing trade and investment flows underscore its role as a trusted first responder. Going forward, connectivity, energy, digitalisation and climate cooperation will shape a resilient, future-oriented partnership. From Strategic Partners to Partners of Prosperity After independence, India and Sri Lanka gradually transformed…
The Annual Conference of Judicial Officers 2025 commenced today gathering over 200 Magistrates and District Court Judges from across the nation. This year’s conference focuses on the timely theme, ‘Advancing Judicial Efficiency and Effectiveness in the Digital Era’, a topic of urgent relevance as the country rebuilds and adapts in the wake of the disaster. The commitment of Sri Lanka’s judicial leadership to harness technology for addressing critical gaps in the justice system has never been more vital, especially as communities and institutions work together to overcome the aftermath of Cyclone Ditwah. The opening ceremony was held this morning,…
The Sri Lanka Podujana Peramuna (SLPP) had initially planned to field prominent businessman Dhammika Perera as its presidential candidate at the 2024 election, the party’s General Secretary Sagara Kariyawasam said. Speaking during a television interview on December 18, Kariyawasam said the SLPP had completed all preparations to nominate Perera as its candidate, but the businessman declined the offer at the last moment. According to Kariyawasam, Perera had agreed to contest the election and arrangements — including official ceremonies and consultations with allied parties — had been made in line with his preferences and schedule. “We had fully prepared Dhammika Perera…
Train services on the Badulla–Ambewela section of Sri Lanka’s upcountry railway resumed Saturday, 23 days after the line was disrupted by the Ditwa disaster, officials said. A special Udarata Menike service (SPL 1016), operated with a Class S14 power set, departed Badulla at 9 a.m. for Ambewela, while a return service from Ambewela to Badulla began at 9:30 a.m. Deputy Transport Minister Prasanna Gunasena said the reopening follows intensive repair work on one of the country’s most important rail corridors, which plays a key role in tourism. The restoration was carried out by Sri Lanka Railways with support from the…
Sri Lanka has suspended toll collection at the Kerawalapitiya Interchange on the Katunayake Expressway through an extraordinary gazette notification, the government said. Minister of Transport and Highways Bimal Ratnayake said authorities observed that tolling at the interchange was unnecessary and contributed to congestion. He said removing the toll would allow motorists to save an estimated 8 to 9 minutes during peak travel hours. The suspension applies to vehicles passing through the Kerawalapitiya Interchange on the Katunayake Expressway, and is aimed at easing traffic flow and improving travel efficiency, the minister said. (Newswire) The post Toll Collection Suspended at Kerawalapitiya Interchange…
The Colombo Municipal Council held its Christmas service at the council premises this week, with religious and provincial leaders in attendance, as the city scaled back festive activities amid recent national circumstances. The service was attended by His Eminence Malcolm Cardinal Ranjith and the Governor of the Western Province, Hanif Yusoof. Colombo Mayor Vraîe Cally Balthazaar said the council revised its original Christmas plans over the past three weeks, opting to reduce several festivities while preserving the core values of the season. She said the focus this year was on sharing, caring for neighbours, and remaining sensitive to the needs…
ECONOMYNEXT – Sri Lanka will have pay around 3.275 percent plus and some surcharges for the 206 million dollar Rapid Finance Instrument loan, Evan Papageorgiou, IMF Mission Chief for Sri Lanka said. There have been concerns raised in Sri Lanka that the RFI loan is too expensive compared to other commercial borrowings. The Rapid Finance Instrument, which was approved on December 19 has a three and a quarter year grace period and is repayable up to five years after that, Papageorgiou said. “The basic rate of charge right now, by the way, that’s determined weekly, but right now, for the…
ECONOMYNEXT – Fitch Ratings has given National Development Bank’s proposed 16 billion Sri Lanka rupees green, social and sustainable bonds an expected ‘BBB+(EXP)(lka)’ rating. “This reflects Fitch’s baseline notching for loss severity for this type of debt and our expectations of poor recoveries,” Fitch Ratings said. The bonds include a non-viability clause whereby they will convert to ordinary voting shares subject to the occurrence of a trigger event. The proposed bonds will mature in five years and will be listed on the Colombo Stock Exchange. The Fitch Ratings statement is reproduced below: Fitch Rates National Development Bank’s Green, Social and…
ECONOMYNEXT – The Sri Lanka government has decided to compensate for damaged fishing boats with a new boat through Cey Nor Foundation amid insufficient insurance claims due to undervaluation, President Anura Kumara Dissanayake told the Parliament. He said this when he explained the method of compensation for lost or damaged fishing boats. He said all those engaged in marine fishing cannot operate without insuring their boats and the Ministry of Fisheries issues fishing licences only if the boats are insured. “However, although compensation is received through insurance, that amount is insufficient to purchase a new boat because sometimes they insure…
The National Water Supply and Drainage Board (NWSDB) has announced an eight-hour water supply interruption on Saturday, 20 December 2025, from 8.30 a.m. to 4.30 p.m.
The Executive Board of the International Monetary Fund (IMF) has approved a disbursement of SDR 150.5 million, equivalent to about US$206 million, for Sri Lanka under the Rapid Financing Instrument (RFI).
No traces of alcohol were detected in the blood and urine samples obtained from former Speaker and National People’s Power (NPP) Parliamentarian Ashoka Ranwala, according to tests conducted by the Government Analyst’s Department.
The Transport, Highways and Urban DevelopmentMinister Bimal Ratnayake, has directed a series of urgent administrative and service reforms following an inspection tour of the Werahera office of the Department of Motor Traffic today (18).
The Department of Irrigation has extended the flood warning for several low-lying areas along the Mahaweli River Basin for a further 24 hours.
Australia will use a sweeping buyback scheme to ’’get guns off our streets,’’ Prime Minister Anthony Albanese said Friday, showing his government was keen to take quick action less than a week after a terrorist attack left 15 people dead at a Jewish holiday gathering on Sydney’s famed Bondi Beach.
The Supplementary Estimate of Rs. 500 billion to restore the livelihoods of those affected by the sudden disaster situation, was approved by Parliament today (19).
The government faces the challenge of preventing a surge in inflation as the Rs. 500 billion allocated for rebuilding the country after Cyclone Ditwah begins to circulate in the economy, President Anura Kumara Dissanayake told Parliament today.
The CSE extended its downward trend on Friday, marking another red session amid subdued turnover and lower trading volumes. Investor sentiment remained weak as the market continued to pull back from its All-Time High (ATH), with the ASPI now reflecting a 9.3% correction from peak levels.