Sri Lanka has received 85 tonnes of flood relief supplies from China to support ongoing recovery efforts following the devastation caused by Cyclone Ditwah. The aid shipment, which includes life jackets, tents, blankets and sheets, was handed over by Chinese Ambassador Qi Zhenhong and received by Ports and Civil Aviation Minister Anura Karunathilake and Deputy Defence Minister Maj. Gen. Aruna Jayasekara (Retd). The Chinese Embassy estimates the value of the donation at approximately Rs. 400 million. Relief operations continue across multiple provinces affected by widespread flooding, displacement and property damage. Thousands remain in temporary shelters, and the government has appealed…
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ECONOMYNEXT – Sri Lanka Customs is likely to see its 2025 revenue target exceeding by around 400 billion rupees, its Director General Seevali Arukgoda said, mainly led by taxes from imported vehicles. Sri Lanka Customs has set a revenue target of 2,115 billion rupees for this year, 36.2 percent higher than last year’s 1,553 million rupees. However, it has already exceeded the target by 197 billion rupees to 2,312 billion rupees as of Sunday (07), the official data showed. “We expect the revenue to exceed by 400 billion rupees,” Customs Director General Seevali Arukgoda told Economy Next last week. The…
The e-commerce landscape is changing very quickly. People do not want to interact with the website simply by looking at static shots, or reading plain text. They want to see things in action and feel incorporated with the brand. That is where AI-powered video creation comes in. With programs like Pippit, AI video generator free software, sellers can now create digital hosts who model the product in a natural and relatable way by speaking, moving their hands, and engaging with their audience just as a human host would. Pippit combines realistic avatars and user-created scripts, customizable to the seller’s needs,…
A South Korean court has sentenced a woman to four years in prison for blackmailing football star Son Heung-min by falsely claiming she was pregnant with his child. Her accomplice, a man in his 40s, was given a two-year jail term for attempted blackmail, local media reported. According to the Seoul district court, the woman, who is in her 20s, approached the former Tottenham Hotspur captain sometime last year and claimed she was carrying his child, despite not knowing whether the allegation was true. Prosecutors told the court she threatened to go public unless Son paid her. She extorted 300…
Logos used to be fixed signatures—imprinted onto packaging, embroidered into uniforms, or printed onto billboards. But in a world where screens never sleep and digital engagement is omnipresent, a logo doesn’t need to be fixed. It can throb like a pulse, shine like sunlight on water, or change with every new encounter. These are living logos: brand marks that are meant to respond in real time, based on context, mood, or even the viewer’s presence. It is already being done. With Dreamina and the power of an AI logo generator, companies can prototype personalities that are no longer static badges;…
ECONOMYNEXT – Sri Lanka’s rupee closed at 308.63/68 to the US dollar in the spot market Monday, from 308.55/65 on Friday, dealers said, while bond yields were broadly steady. A bond maturing on 15.12.2026 closed flat at 8.30/40 percent. A bond maturing on 15.12.2029 closed at 9.60/65 percent, down from 9.60/70 percent. A bond maturing on 15.12.2032 closed at 10.34/44 percent, from 10.35/45 percent. A bond maturing on 15.09.2034 closed at 10.58/70 percent. (Colombo/Dec8/2025)
ECONOMYNEXT – Investor interest in diversified financials and capital goods shares helped Sri Lanka’s Colombo Stock Exchange indices close up on Monday, data on its site showed. The broader All Share Price Index (ASPI) rebounded o.45 percent, or 97.78 points from Friday to close at 21,594.86. The index hiked over 300 points in early morning trade before gradually sliding down. The more liquid S&P SL20 closed marginally higher, 0.02 percent, or 1.01 points up, at 5,926.64. Investor interest remained around construction and related shares after cyclone Ditwah’s destruction. Access Engineering rose 80 cents to 72.00 rupees, Tokyo Cement (Lanka) closed…
ECONOMYNEXT – Sri Lanka’s tea manufacturing capacity has not been harmed by Cyclone Ditwah, even though some tea-growing areas in the Uva and the Central Province were hit, the Colombo Tea Traders’ Association has said. Trading activities at the Colombo Tea Auctions will continue, but with a revised calendar, the private sector tea industry body said. “The damage was largely confined to specific roads, resulting in temporary disruptions to transportation,” it said in a statement. “Some of the key routes connecting plantations to the city have now been reopened, and transport services are resuming normal operations.” Harvesting operations are returning…
Photo courtesy of Dubai Eye On November 27 at 9.17 pm I received this SMS message in Sinhala. “Special announcement. Due to existing disaster situation, public living in lowlands should be on alert and if needed, go to secure places.” Disaster Management Centre (DMC). This message was alarming and also confusing. Which specific areas are referred to as lowlands? What does it mean if needed? What are the secure places that we could go to? How could my parents of 89 and 85 years and many others with limited mobility go anywhere in the dark, frightening night amid pouring rain…
ECONOMYNEXT – Foreign investors bought around 9.6 million US dollars worth Sri Lanka government securities in the week ending December 3, recording a second weekly buying, Central Bank data showed. It was the 11th week foreigners have bought rupee bonds in the last 14. The foreign holding in government securities are now near two-year high. Foreigners bought 2,923 million rupees (USD 9.58 million at 1$=305 rupees) in the week after buying 1,000 million rupee worth of bonds in the previous week. The buying comes despite gradual fall in the rupee in the recent past amid higher imports from strong private…
ECONOMYNEXT – Sri Laka’s post-default fiscal consolidation would be hit by addition spending to deal with cyclone Ditwah damage, Moody’s Ratings said. “While we do not expect a reversal in the government’s commitment to the ongoing International Monetary Fund program and related reforms, the economic impact of the cyclone and spending to deal with the aftermath will stymie post-default fiscal consolidation,” Moody’ said in a comment. Cyclone Ditwah severely damaged critical infrastructure, including roads, bridges, rail networks and power grids, disrupting supply chains and economic activity nationwide. “The hardest-hit sectors likely include tourism, agriculture and manufacturing, which are key drivers…
ECONOMYNEXT – InsureMe Insurance Brokers Ltd marked its listing on the Empower Board of Sri Lanka’s Colombo Stock Exchange with a bell ringing ceremony. InsureMe is a digital insurance aggregator and a licensed broker regulated by the Insurance Regulatory Commission of Sri Lanka (IRCSL). It operates with platforms such as DigiEye (Motor Claims Automation), DigiMed (Medical Claims Automation), and DigiEx (Corporate Expense & Reimbursement Automation). “InsureMe is one of the very few startups in Sri Lanka making a debut on the Stock Exchange and as the sixth company on the Empower Board and is an innovator in the technology start…
ECONOMYNEXT – Sri Lanka’s Export Development Board (EDB) has begun damage assessments of exporters most affected by Cyclone Ditwah, and will launch a relief and recovery program, it said. “These measures focus on minimizing disruptions to export operations to ensure a steady flow of goods and services to international markets,” the EDB said in a statement. Efforts are being made to mitigate the adverse impact on production capacity, safeguarding the ability of exporters to maintain output levels, the trade body said. “A key priority is also placed on reactivating disrupted supply chains, restoring the seamless connectivity essential for efficient production…
ECONOMYNEXT – Sri Lanka is transferring -allocate 50 billion rupees from un-spent allocations in other ministries for disaster relief, for which parliamentary approval will be sought through a supplementary estimate, officials said. “The supplementary has been prepared to manage spending within the 2025 budget,” Deputy Treasury Secretary Ananda Seneviratne told the parliament’s Committee on Public Finance. “We need parliament’s approval to get unspent money from other ministries.” There were about 15 billion rupees unspent funds allocated to the Ministry of Defence, about 50 billion at the Ministry of Highways and Transport and also one of two billion each i funds…
Photo courtesy of The Guardian Can you imagine a national committee being set up to help rebuild Sri Lanka but every single member appointed to it is a man? On December 1, the cabinet granted approval to establish a Rebuilding Sri Lanka Fund following the aftermath of Cyclone Ditwah, one of the worst climate disasters Sri Lanka has faced in decades. According to News.lk, the government’s official news portal, the fund is to be administered by a management committee that will be responsible for assessing the needs across the country, establishing priorities and allocating funds to recovery efforts across the…
ECONOMYNEXT – Sri Lanka is going for its 18th International Monetary Fund program, barely a year after the country was given hopes that the current Extended Fund Facility which came in the wake of 2020 inflationary rate cuts will be the last. President Dissanayake said a team will be in Sri Lanka in January and a new review will be conducted. The visit was later confirmed by the IMF. President Dissanayake said that next year’s budget will have 500 billion rupees of extra spending after the Cyclone Ditwah. That means the fiscal targets in the Staff Level Agreement will have…
Claiming that the opposition had kept mum on the warnings of an impending cyclone for two weeks from November 12 as they claimed, Deputy Minister Mahinda Jayasinghe said today the opposition must be sued for failing to inform the government of the warning of an impending cyclone if they were aware of it from November 12.
A tearful Lando Norris claimed his maiden Formula One world drivers’ title in Abu Dhabi on Sunday, ending Max Verstappen’s four-year reign.
Around 12,000 kilograms of meat stored at a livestock farm in the Anuradhapura District was sealed today after being found unfit for human consumption, the Public Health Inspectors Union said. The meat stock had reportedly deteriorated due to floodwaters entering the facility and a power outage that disrupted refrigeration. The discovery followed a complaint made to the Disaster Management Hotline (1926) operated under the Health and Media Ministry. Public Health Inspectors later inspected the premises and sealed the entire stock, said Pradeep Boralessa, Chairman of the Public Health Inspectors Union. Samples of the meat are scheduled to be sent today…
Twenty acres of land provided for resettlement by the Chief Incumbent of Maddeketiya, Gokarella Sangamu Raja Maha Viharaya The President emphasised that no room will be given in the future for unauthorised constructions and that the laws relating to them will be strengthened. The President further pointed out that failure to do so would lead the country to face an even greater disaster. President Dissanayake stated that a separate unit will be established under the Reconstruction Presidential Task Force, which is to be set up shortly, to formulate legal policies and that this will enable long-term solutions to these issues.…