Maldivian authorities have reportedly seized a Sri Lankan fishing vessel carrying a massive haul of narcotics, including around 300 kilograms of heroin and crystal methamphetamine (commonly known as ICE). According to media reports, the vessel, with six Sri Lankans onboard, was intercepted by the Maldivian Coastguard following intelligence shared by the Sri Lanka Navy. The operation is believed to be one of the largest joint maritime drug busts in recent months between the two nations. Police in the Maldives confirmed that the suspects and the vessel were taken into custody, with investigations now underway to trace the origin and intended…
The Sri Lankan Report
ECONOMYNEXT – Sri Lanka’s central bank has tightened credit for private commercial vehicles by reducing the loans value banks and finance companies can give to customers, with effect from November 08, 2025. Under the new direction, loan to value ratio for commercial vehicles has been cut to 70 percent from 80 percent. For motor cars, vans and SUVs the ratio has been cut to 50 percent from 60 percent. Three wheelers remain at 50 percent. Credit for any other vehicles have also been cut to 50 percent from 70 percent. The old ratios will apply to cars for which LCs…
Scientists have discovered 100,000 spiders living in what could be the biggest spider’s web in the world.
The Indo-Lanka bilateral trade volume has grown exponentially, but Sri Lanka appears to be a loser with a trade gap heavily in favour of India, Parliament was informed today.
A married couple has been arrested by the Mirihana Police Children and Women’s Bureau for uploading obscene videos to adult websites. The arrest was made in the Rajagiriya–Welikada area. According to Ada Derana, the suspects, aged 37 and 36, are reported to be a software engineer and a psychological counsellor. Police said the couple had uploaded 334 videos to the website in question. They are scheduled to be produced before the Hulftsdorp Magistrate’s Court tomorrow (9). Investigations are being conducted under the supervision of the Senior Superintendent of Police of the Nugegoda Division. The post Couple arrested in Rajagiriya for…
Indian intelligence agencies have issued a serious alert over a new alliance forming between the Dawood Ibrahim syndicate and remnants of the Liberation Tigers of Tamil Eelam (LTTE). Officials say the D-syndicate is now exploiting South Indian and Sri Lankan routes to expand its drug trade after suffering major losses in western and northern India.
Turkey on Friday issued arrest warrants for Israeli Prime Minister Benjamin Netanyahu and dozens of other Israeli officials on “genocide” charges.
The Central Bank of Sri Lanka has decided to revise the maximum leasing ratios applicable to vehicles. Accordingly, the maximum ratio for commercial vehicles has been reduced to 70 percent, while the limit for private vehicles has been set at 50 percent. In July this year, the Central Bank had allowed leasing facilities up to 80 percent for commercial vehicles, 60 percent for private vehicles, 50 percent for three-wheelers, and 70 percent for other vehicles. However, under the latest revision, the four categories introduced in July have been consolidated into two main groups — one for commercial vehicles and the…
Samagi Jana Balawegaya (SJB) MP Dr.Harsha de Silva, who opened the budget debate, said that he supports the government’s anti-corruption drive, but it should not be driven with political interests.
Ceylon Chamber Says Budget 2026 Reinforces Policy Stability, Calls for Faster Implementation of Reforms to Achieve Growth Targets The National Budget 2026 maintains a clear trajectory of policy predictability, fiscal consolidation, and disciplined debt management, continuing the stability required for Sri Lanka’s medium-term reform agenda. This consistency is critical for sustaining a transformative growth trajectory that is underpinned by low inflation, stable interest rates and renewed investor confidence. With economic recovery driven primarily by post-crisis consumption growth now moderating, The Ceylon Chamber of Commerce underscores the importance of converting recent fiscal over-performance into productive public investment. Well-directed and well-implemented capital…
All MPs and others in the gallery were in confusion for a few minutes when Speaker Jagath Wickramaratne gave the microphone over to Chief Government Whip Nalinda Jayatissa to open the second reading of the debate on the budget, breaking the tradition of giving the opportunity to the Opposition to kick it off.
More than USD 50 million provided by the Asian Development Bank (ADB) for drainage and solid waste disposal have gone missing since 2010, Minister of Public Administration and Provincial Councils A.H.M.H. Abeyratana told Parliament yesterday.
ECONOMYNEXT – Sri Lanka’s plans to remove so-called para-tariffs, and the introduction of a higher 30 percent duty band is not aimed at getting any additional revenue, Treasury Secretary Harshana Suriyapperuma said. The budget for 2025 said a 30 percent rate will be added to the current import duty bands of 0, 10, 15 and 30 percent. The intention was to progressively eliminate so-called para tariffs including an import CESS, PAL and SCL which can eliminate competition protection and give a free hand for domestic production lobbies that cannot compete in export markets to exploit customers at home. Para-tariffs can…
Nobel Prize-winning American scientist James Watson, one of the co-discoverers of the structure of DNA, has died aged 97.
The Department of Meteorology has issued an advisory warning of thundershowers accompanied by severe lightning in the North-western, Uva, Central, Sabaragamuwa provinces and in the Anuradhapura, Mannar, Ampara, and Hambantota districts. Temporary strong winds are also expected during thundershowers. The public is urged to take necessary precautions to minimize risks from lightning activity. The Department advises residents to seek shelter indoors, avoid open areas and water bodies, refrain from using wired telephones or electrical appliances during thunderstorms, and avoid open vehicles such as bicycles and tractors. People are also advised to be cautious of fallen trees and power lines and…
The Punjab Home Department has completed the security arrangements for the upcoming three-nation cricket series 2025 between Pakistan, Sri Lanka, and Zimbabwe.
The 2026 budget is a clearly IMF-dictated budget, Opposition Leader Sajith Premadasa said yesterday.
More than a thousand suspects were arrested during raids conducted across the country on Friday under the ongoing “Ratama Ekata” (Nation Together) national operation, according to the Sri Lanka Police. As of 7 November 2025, islandwide operations targeted various narcotics including heroin, ice, cocaine, cannabis, and other substances. Several individuals were placed under detention orders, while others were referred for rehabilitation. Investigations into illegal assets connected to drug-related offences are also continuing. The “Ratama Ekata” operation, launched on 30 October 2025, focuses on curbing drug trafficking and abuse through coordinated enforcement, rehabilitation, and prevention initiatives. The post ‘Ratama Ekata’ operation:…
The Joint Apparel Association Forum (JAAF) has welcomed the Government’s 2026 Budget, recognizing its emphasis on export-led growth, investment facilitation, and continued macroeconomic stability. Issuing a statement, the industry body commended the clear direction towards strengthening Sri Lanka’s external sector and building investor confidence, while also urging consistent implementation of reforms to sustain momentum. The apparel industry, Sri Lanka’s largest industrial export earner, views the renewed focus on digitalization, trade facilitation, and enhanced capital allowances as positive steps that could enhance competitiveness and attract much-needed foreign investment. JAAF pointed out that reform of the Department of Inland Revenue, the introduction…
Gampola Udapalatha Divisional Secretary Athma Dilrukshi Jayaratne was ordered yesterday by the Appeal Court to pay compensation of Rs. 100,000 to the construction company in charge of the Ambuluwawa cable car project, for obstructing the project through undue interference in her official capacity.