ECONOMYNEXT – Sri Lanka’s key revenue agencies is on track to exceed targets in 2025 and the budget deficit would be below the original target despite cyclone relief, Deputy Minister of Economic Development Nishantha Jayaweera said. The Inland Revenue Department is likely to exceed its target of 2,195 billion rupees by around 50 billion, Jayaweera told reporters Wednesday. The Department of Customs had already exceeded its 2,115 billion rupee target by 280 billion rupees and is likely to exceed the target by 280 billion rupees The Department of Excise is on track to exceed target of 228 billion rupees by…
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ECONOMYNEXT – Sri Lanka’s Capital Alliance PLC (CAL) has been upgraded to A+ with a Stable Outlook by Lanka Rating Agency, based on its profitability, capital adequacy, and prudent risk management practices. “LRA also noted the company’s consistent earnings performance, effective liquidity management, and measured approach to balance-sheet growth,” the company said. The rating upgrade recognises CAL’s sustained profitability, robust capital adequacy maintained well above regulatory requirements, and its leading position in Sri Lanka’s government securities market. LRA also noted the company’s consistent earnings performance, effective liquidity management, and measured approach to balance-sheet growth. CAL’s treasury operations continue to play…
ECONOMYNEXT – Diversified financials and capital goods shares pushed the Colombo Stock Exchange (CSE) to close 0.02 percent lower, data on its site showed. Market experienced a heavy amount of volatility in trade ultimately dragging down both the indices. The broader All Share Price Index ended 3.56 points weaker at 22,329.69. Meanwhile the more liquid S&P SL20 index marginally declined 0.01 percent, or 0.79 points to 6,070.33. Commercial Bank (down 1.50 rupees at 198.50 rupees), DFCC Bank (down 2 rupees at 146 rupees), Richard Pieris and Company (down 70 cents at 40.30 rupees), Bukit Darah (down 22 rupees at 1,012.00rupees),…
ECONOMYNEXT – Sri Lanka’s rupee depreciated further, closing at 309.65/72 to the US dollar in the spot market Wednesday, from 309.50/60 the previous day, dealers said, while bond yields closed down. A bond maturing on 15.12.2026 closed at 8.25/38 percent, down from 8.35/45 percent. A bond maturing on 15.09.2027 closed at 8.78/88 percent, down from 8.80/90 percent. A bond maturing on 15.12.2029 closed at 9.45/48 percent. A bond maturing on 01.10.2032 closed at 10.20/25 percent, down from 10.22/25 percent. A bond maturing on 01.11.2033 closed at 10.40/44 percent, down from 10.37/42 percent. (Colombo/Dec17/2025)
ECONOMYNEXT – Sri Lanka has sold 40.62 billion rupees of Treasury bills at an auction, data from the Ministry of Finance’s Public Debt Management Office showed. The 3-month yield was unchanged at 7.51 percent, with 10 billion rupees of bills offered at the auction on Wednesday, and 13.28 billion sold. The 6-month yield was unchanged at 7.91 percent, with 25 billion rupees offered and 17.37 billion sold. The 12-month yield was unchanged at 8.03 percent, with 13 billion rupees offered and 9.96 billion sold. A total of 80,189 million bids were received. (Colombo/Dec17/2025)
China has pledged its full support to Sri Lanka’s economic and social recovery efforts in the wake of Cyclone Ditwah, expressing confidence in the country’s rapid recovery under President Anura Kumara Dissanayake’s leadership. Wang Dongming, Vice Chairman of the Standing Committee of the National People’s Congress of China, conveyed this assurance during a meeting with President Dissanayake at the Presidential Secretariat. The meeting took place as part of Wang’s official visit to Sri Lanka, the President’s Media Division said. “The Chinese Government and people are deeply saddened by the disaster and acted swiftly to provide relief assistance,” Wang said. He…
Investigations have been launched by officials of the Anuradhapura Range regarding a video showing a man setting fire to an elephant in the Mihintale Seeppukulama, Ambagahawela area. The Department of Wildlife Conservation stated that information on the elephant’s death will be reported to the court today (17). Issuing a statement, the department noted that the suspect who set fire to the elephant has not yet been arrested. Officials of the Anuradhapura Range, together with officers of the Army Intelligence Service, are continuing investigations to apprehend the suspect. The elephant, a male aged around 50–55 years and about nine feet tall,…
The Inland Revenue Department has informed the Colombo Chief Magistrate that steps are being taken to file indictments in the Colombo High Court against popular actress Piumi Hansamali. The department informed the court on Monday (15) that the indictments are to be filed against Piumi Hansamali, the proprietor of Lolia Skin Care (a private company selling skin‑whitening creams), for evading the payment of Rs. 225 million in taxes to the government. It was further stated that Piumi Hansamali, who is said to have become a millionaire in a short period of time, will face indictments in the High Court on…
Sri Lanka Cricket Appoints R. Sridhar as National Team Fielding Coach Sri Lanka Cricket (SLC) wishes to announce the appointment of R. Sridhar as the Fielding Coach of the Sri Lanka National Team, until the completion of the ICC Men’s T20 World Cup. A BCCI Level 3 qualified Coach, Sridhar was the Fielding Coach of the India National Men’s Team from 2014 to 2021 covering over 300 international matches. He will now focus on enhancing the fielding standards of the Sri Lanka National Team and work with the players during the upcoming tours involving Pakistan and England, followed by preparations for the ICC…
The Sri Lankan Rupee has depreciated further against the US Dollar today (17 Dec), compared to Tuesday. According to the Central Bank of Sri Lanka, the buying rate of the US Dollar has increased from Rs. 305.57 to Rs. 305.68. Meanwhile, the selling rate of the Sri Lankan Rupee has also increased from Rs. 313.16 to Rs. 313.29. The Sri Lankan Rupee has changed slightly against a basket of foreign currencies, while it has depreciated against Gulf currencies. (Newswire) The post Today’s CBSL official exchange rates appeared first on Newswire.
A special cargo aircraft carrying 69,000 kilograms of disaster relief supplies worth 5 million euros from Germany and Luxembourg, both member states of the European Union, arrived at Katunayake International Airport early this morning (17). It is reported that the consignment includes tents, kitchen equipment for cooking, mats, and water purification units as part of the large relief package. The Boeing 747 cargo aircraft transporting the aid landed at Katunayake Airport at 4:30 a.m. today, having departed from Leipzig, Germany. To receive the consignment, Germany’s Deputy Ambassador to Sri Lanka, Sarah Haselbarth, EU representative Pierre Tripon, and officials from Sri…
Reflecting on the severe impact of Cyclone Ditwah, Prime Minister Harini Amarasuriya has paid tribute to those who lost their lives, with special remembrance of members of the Armed Forces who were engaged in rescue and relief operations. PM Amarasuriya further commended the Armed Forces for their professionalism, discipline, and unwavering commitment, emphasizing their coordination with civil authorities and the public to deliver timely rescue, relief, and recovery assistance during a period of national adversity. PM Harini Amarasuriya expressed these views while attending the Graduation Ceremony of Defence Services Command and Staff College Course 19 as the Chief guest yesterday…
Wildlife officers have arrested a 44‑year‑old man in Aluthgama, Kaluwamodara, for illegally keeping a baby crocodile in his possession. The suspect, arrested based on information received by the Hikkaduwa National Park headquarters, was produced before the Kalutara Magistrate today, where he was ordered to pay a fine of Rs. 70,000. The Magistrate also directed the Attidiya wildlife veterinarian to release the baby crocodile into a suitable environment and submit a report. The Department of Wildlife Conservation stated that crocodiles are strictly protected reptiles under the Fauna and Flora Protection Ordinance. The department said in a statement that for some time,…
Opposition Leader Sajith Premadasa says all those involved in killing the elephant at Seeppukulama in Mihintale must be punished without discrimination. In a special message on social media, Premadasa said that a group had set fire to the elephant in the Ambagaha Wewa area of Mihintale, Anuradhapura District, describing it as a vile, despicable and disgraceful act. He stressed that everyone responsible must be brought before the law, and that the government, the Wildlife Department, and civil society must work together to prevent such barbaric incidents. Premadasa also paid tribute to the wildlife veterinarians and officials who treated the sick…
ECONOMYNEXT – Sri Lanka’s Securities and Exchange Commission (SEC) has warned the general public of ongoing scams attempting to swindle money from potential investors in share market. The market regulator has already identified Bule Ocean Securities Limited and Gladius South Asia involved in scams. Tushara Jayaratne, the deputy director general of the SEC said the Blue Ocean has been involved in asking investors to start trading through an app named BOMate. “From this app, you can’t trade shares. But the money transaction goes through this app and the SEC system does not see these transactions. So the money is going…
Sri Lanka’s draft resolution on “Enhancing the Meaningful Participation of Youth in Environmental Processes and on Environmental Education” was adopted at the Seventh Session of the United Nations Environment Assembly (UNEA‑7) in Nairobi. According to the Sri Lankan High Commission in Nairobi, the resolution, proposed by Sri Lanka, reflects a shared commitment to empowering young people as key partners in addressing global environmental challenges and advancing sustainable development. The adopted resolution underscores the critical role of youth as agents of change and calls upon Member States, the United Nations Environment Programme, and other stakeholders to provide youth with opportunities for…
ECONOMYNEXT – Sri Lanka’s real gross domestic product estimated for nine months at 9,866 billion in constant rupees has almost reaching the 9,751 billion calculated for 2021, based on the latest data released by the state statistics office. After a 30-year civil war Sri Lanka went though serial currency crises and inflationary policy blew the balance of payments apart, prompting foreign borrowings and serial stabilization measures which slowed growth and depreciation which destroyed domestic capital. In 2018, amid inflationary policy and heavy foreign borrowings, GDP reached 9,925 billion rupees with steep depreciation in the second half. In 2019, amid stabilization measures, and…
ECONOMYNEXT – Sri Lanka’s LOLC Finance is listing 15 billion rupees of 11.5 and 10.95 percent debentures, it said in a stock exchange filing. LOLC Finance raised 15 billion rupees through its issue of listed, rated, senior, unsecured, redeemable 5-year debentures. The debentures were offered at 100 rupees each. (Colombo/Dec17/2025)
Photo courtesy of VCG Sri Lanka has always lived with the rhythm of the monsoon but the floods that followed Cyclone Ditwah were a brutal reminder that the climate crisis is changing the scale of what normal looks like. More than 600 lives were lost, over two million affected and 1.1 million hectares of land inundated. The tragedy was not just in the storm itself but was a clear representation in how unprepared many communities were to face it. If we want to break this cycle, the government must take a stronger role in building resilience not only through infrastructure but…
ECONOMYNEXT – Sri Lanka’s rupee was trading at 309.55/65 to the US dollar in the spot market Wednesday, weaker from 309.50/60 the previous day, dealers said, while bond yields opened lower. A bond maturing on 01.07.2028 was quoted at 8.98/9.05 percent. A bond maturing on 15.12.2029 was quoted at 9.46/48 percent. A bond maturing on 15.03.2031 was quoted at 9.85/95 percent. A bond maturing on 01.10.2032 was quoted at 10.20/25 percent, down from 10.22/25 percent. A bond maturing on 01.11.2033 was quoted at 10.37/43 percent, from 10.37/42 percent. A bond maturing on 15.09.2034 was quoted at 10.50/60 percent. A bond…