ECONOMYNEXT – Sri Lanka’s central bank is calling for public consultation on amendments to the country’s Finance Business Act, No.42 of 2011 (FBA). The proposed amendments aim to strengthen the regulation and supervision of finance companies, investigate and prosecute unauthorized finance business, and for the resolution and winding up of non-viable FCs, the central bank said. CBSL is inviting the general public to submit views, suggestions, and comments on the draft amendments. The public can access the draft amendments through the following weblink at the CBSL website; “https://www.cbsl.gov.lk/en/consultation-papers-for-public-comments” The views, suggestions, comments are to be submitted through post, fax or…
The Sri Lankan Report
The Court of Appeal was informed today that the police constable who was allegedly involved in an altercation with lawyer Gunaratne Wanninayake on October 10 had been transferred to the Mount Lavinia Police Headquarters Station on disciplinary grounds, before the incident. Appearing on behalf of Wanninayake, President’s Counsel Upul Jayasuriya told the court that the Police Constable had been transferred from the Kesbewa Police Station on disciplinary grounds, in accordance with the Public Service Commission Procedural Rules. Informing the court that the Inspector General of Police (IGP) had failed to disclose this fact to the court, President’s Counsel Jayasuriya raised…
A passenger bus toppled near the Jaya Ganga area in Thalawa, Thambuththegama, early this morning, leaving at least 20 people injured, including several Advanced Level students. Police said the injured were rushed to the Thambuththegama Hospital for treatment, while rescue operations were carried out with the assistance of area residents and emergency services. NewsFirst later reported that five people had died following the accident. (Newswire) The post Major bus accident reported in Thalawa appeared first on Newswire.
Sri Lanka signed the agreement for the 2026 Hajj pilgrimage on Sunday (09) in Jeddah, Saudi Arabia, with the official Hajj quota allocated to Sri Lanka standing at 3,500. The agreement was signed by the Sri Lankan delegation, headed by the Deputy Minister of Religious and Cultural Affairs, Muneer Mulaffer and the Deputy Minister of Hajj and Umrah of Saudi Arabia, Dr. Abdulfattah Bin Sulaiman Mashat. The agreement outlines the mutual understanding and commitment of both governments to facilitate and serve the Sri Lankan pilgrims participating in Hajj 2026. As per the agreement signed yesterday, the official Hajj quota allocated…
Sri Lanka Muslim Congress (SLMC) leader and Parliamentarian Rauff Hakeem met Tamil Nadu Chief Minister M. K. Stalin at the Government Guest House in T. V. S. Tollgate, Trichy, today (10). During the courtesy call, the two leaders exchanged views on matters of mutual interest and ongoing people-to-people and cultural ties between Sri Lanka and Tamil Nadu. (Newswire) The post Rauff Hakeem meets Tamil Nadu CM MK Stalin in Trichy appeared first on Newswire.
Former Member of Parliament Harin Fernando has officially assumed duties as the United National Party’s (UNP) Deputy Secretary General of Political Mobilization. The ceremony took place at the UNP headquarters, Sirikotha, with the participation of senior party members and supporters. Fernando’s appointment comes as part of the UNP’s broader effort to reorganize its leadership and strengthen grassroots political activities across the country ahead of future elections. After assuming duties, Harin Fernando said he was dedicated to rebuilding the party’s national network and re-engaging with long-standing UNP supporters. (Newswire) The post Harin Fernando assumes duties as UNP Deputy Secretary General…
The Department of Meteorology has issued an advisory for severe lightning for the Uva province and Ampara, Batticaloa, and Hambantota districts, effective until 11.30 pm today. According to the department, red alerts have been issued to 05 districts and amber alerts to 17 districts. Thunderstorms accompanied by severe lightning are likely to occur in the Uva province and in the Ampara, Batticaloa and Hambantota districts. There may be temporary localized strong winds during thundershowers. The public is requested to take adequate precautions to minimize damage caused by lightning activity. (Newswire) The post Weather alert : Severe lightning advisory issued to…
The Sri Lankan Rupee has appreciated slightly against the US Dollar today (10), compared to last Friday. According to the Central Bank of Sri Lanka, the buying rate of the US Dollar has reduced from Rs. 301.10 to Rs. 301.09. Meanwhile, the selling rate of the Sri Lankan Rupee has also reduced from Rs. 308.65 to Rs. 308.57. The Sri Lankan Rupee has changed slightly against a basket of foreign currencies, including Gulf currencies. (Newswire) The post Today’s CBSL official exchange rates appeared first on Newswire.
Three workers, including two Sri Lankans, have been found dead at a land-based fish farm in Goseong, South Gyeongsang Province, in South Korea, prompting a police investigation, South Korean media, The Chosun Daily reported. According to the Gyeongnam Provincial Police Agency, the three workers, a Korean man in his 50s, the site manager, and two Sri Lankan employees in their 20s and 30s, were discovered deceased inside a large reservoir at the Goseong farm around 8:30 pm on November 09. The news report further states that the reservoir was nearly filled with water at the time. The Police began their…
The Central Bank of Sri Lanka reported that the country’s official reserve assets stood at USD 6,216 million at the end of October 2025, marking a slight decline of 0.4% compared to USD 6,244 million recorded at the end of September 2025. The primary contributor to this decline was a 1.3% drop in foreign exchange reserves, which fell from USD 6,179 million to USD 6,100 million during the month. However, a notable development was the 36.6% increase in gold reserves, which rose from USD 58 million to USD 80 million in October. Analysts attribute this surge to the sharp rise…
ECONOMYNEXT — The Asian Development Bank (ADB) has approved a 100 million dollar financing package to boost Sri Lanka’s macroeconomic stability by strengthening public expenditure management, improving revenue mobilization, and fostering private sector participation. The program will include developing a legal framework for public–private partnerships (PPP) in line with international best practices, and mobilizing additional climate finance and private investment. It will focus on strengthening the management, transparency, and accountability of state-owned enterprises (SOE). “This program also aims to improve the credibility and execution of public expenditure, enhance domestic revenue mobilization, and foster a more predictable and transparent investment climate,”…
ECONOMYNEXT – Sri Lanka’s government will make payments on the letters of comfort and Treasury guarantees issued to state owned enterprises which have defaulted on loans taken from state banks, according to a budget for 2026. “Treasury guarantees or letters of Comfort have been issued to state banks for the state-owned enterprises to obtain loans,” the budget said. “Due to long term losses and financial crises, such enterprises are unable to repay these loans. These obligations which will be in effect until 31.12.2026 will be settled during this year considering as an urgent need.” There was no number given in…
The Chairman of the Medical and Civil Rights Doctors’ Trade Union Alliance, Specialist Dr. Chamal Sanjeewa, has strongly criticized the 2026 budget, claiming it allocates significant funds for animal welfare while neglecting the country’s medical professionals.
ECONOMYNEXT — The Asian Development Bank (ADB) has approved a 100 million dollar loan for Sri Lanka to address ‘complex and challenging structural reforms’ in its financial sector. “This initiative builds on earlier banking sector reforms and aims to broaden access to finance for micro, small, and medium-sized enterprises, with a strong focus on empowering women-led enterprises,” said ADB Country Director for Sri Lanka Takafumi Kadono. The loan builds on the structural reforms addressed in the previous two ADB lending programs totaling 400 million dollars since the country’s economic crisis in 2022, the global lender said. “The program will strengthen…
The Sri Lankan Rupee remains steady against the US Dollar at commercial banks in Sri Lanka today (10), compared to Monday. At Seylan Bank, the buying rate of the US Dollar remains unchanged at Rs. 301.55, while the selling rate is also unchanged at Rs. 306.80. According to NDB Bank, the buying and selling rates of the US Dollar have reduced from Rs. 301.75 to Rs. 301.60 and from Rs. 308.25 to Rs. 308.10, respectively. People’s Bank reports that the buying rate of the US Dollar remains unchanged at Rs. 301.39, while the selling rate also remains unchanged at Rs.…
Sri Lanka is set to co-host the 2026 ICC Men’s T20 World Cup alongside India, marking the island’s biggest international cricket event in over a decade. The tournament, scheduled for February 7th to March 8th 2026, will feature 20 teams, the largest lineup in the history of the competition. It will be played across three venues in Sri Lanka and five in India. According to the International Cricket Council, both countries qualified automatically as hosts, while the remaining teams have advanced through regional qualifying tournaments. The expanded format will see four groups of five teams each, followed by a Super…
The Colombo High Court has sentenced a Sri Lankan businessman to three years rigorous imprisonment for evading payment of over US$ 5 million for two container-loads of fruits, it was reported. According to the Sunday Times, the court had also ordered the accused to pay compensation of Rs 15 million to the US exporter. The accused, a fruit wholesaler based in Pettah, had exported fruits from a US-based exporter for a long time, with the agreement to pay after the container arrives in Sri Lanka. The business was conducted on mutual trust, with the accused having purchased goods on earlier…
The Cabinet has approved a multi-million dollar contract for the urgent overhaul of four MI-17 helicopters operated by the Sri Lanka Air Force (SLAF), at a cost of around US$4.5 million per helicopter. According to the Sunday Times, a complete report pertaining to the MI-17 overhaul and service life extension tender will be submitted to the Cabinet next week. The total cost of the overhaul and service life extension is estimated at US$18 million, while the budget also includes round-trip transport and insurance for the aircraft. M/s Winsley Defence Group d.o.o. of Bosnia and Herzegovina, whose local agent is M/s…
The 2025 GCE Advanced Level (A/L) Examination commenced today (11) at 8:30 a.m. across Sri Lanka. This year’s examination will be held from November 10 to December 5, across 2,362 centres islandwide. A total of 340,525 candidates are expected to sit for the exam, including 246,521 school applicants. The Department of Examinations has instructed all candidates to arrive at their respective exam centres at least 30 minutes prior to the start time of their relevant exams. (Newswire) The post 2025 GCE A/L Examination begins nationwide appeared first on Newswire.
The United States Senate is holding a vote to advance a Republican stopgap funding package that could pave the way to end the longest government shutdown in the country’s history. The breakthrough on Sunday came after a group of centrist Democrats negotiated a deal to reopen the government through January if Republicans promise to hold a vote on expiring healthcare subsidies by December. The package also included bills to fund some parts of the government, including food aid and the legislative branch, until the end of the fiscal year. Some eight Democrats voted in favour of advancing the package. Al…