ECONOMYNEXT – M Riyaaz Rasheed has been appointed chief executive officer of Sri Lanka Telecom PLC with effect from 1 January 2026. Rasheed is a telecommunications professional who has been in the business for 29 years. A brief profile provided by the company is reproduced below: M Riyaaz Rasheed In a professional career spanning over 34 years, Riyaaz counts 29 years in the field of telecommunications, working for subsidiaries of multinational corporations like Millicom International Cellular SA of Luxemburg (Millicom), Emirates Telecommunication Group Company PJSC (Etisalat) and CK Hutchison Group (Hutchison). Riyaaz started his professional career at Ernst & Young.…
The Sri Lankan Report
President Donald Trump’s administration has revoked around 80,000 non-immigrant visas since its inauguration on January 20 for offenses ranging from driving under the influence to assault and theft, a senior State Department official said on Wednesday.
The Sri Lankan Rupee has depreciated further against the US Dollar today (06), compared to Tuesday. According to the Central Bank of Sri Lanka, the buying rate of the US Dollar has increased from Rs. 300.71 to Rs. 300.97. Meanwhile, the selling rate of the Sri Lankan Rupee has also increased from Rs. 308.20 to Rs. 308.53. However, the Sri Lankan Rupee has changed slightly against a basket of foreign currencies, while it has depreciated against Gulf currencies. (Newswire) The post CBSL rates : Sri Lankan Rupee weakens further against US Dollar appeared first on Newswire.
Every delay at the Port of Colombo now comes at a heavy price. For Sri Lanka’s apparel industry, time is not just money it’s trust. The recent reports of ships failing to call at Colombo because of potential delays in the Port of Colombo, are a major concern for exporters who depend on reliability to stay competitive in global markets. Over the past few months, several shipping lines have started bypassing Colombo, sometimes just a day or two before arrival. Typically, these are vessels from the Far East containing raw materials required by the industry. When this happens, containers carrying…
As Prime Minister Modi met and commended the Indian women’s cricket team for their “remarkable resilience and comeback” in the World Cup, he was asked a cheeky question: What is his skincare routine? The question came from top-order batter Harleen Deol, who also told the Prime Minister that he “glows a lot”. Her query had the entire room in splits. “I never thought about this much,” PM Modi said, as he spoke to the players on Wednesday. A video of the interaction was broadcast on Thursday. When all-rounder Sneh Rana said “it is the love of his countrymen” that makes…
All arrangements have been finalized for the selection meeting to appoint a new Diyawadana Nilame of the Sri Dalada Maligawa in Kandy, scheduled for tomorrow (07). It is reported that the election will take place at the Senkadagala Buddhist Hall, under the leadership of the Commissioner General of Buddhist Affairs. The following candidates have been officially announced: Pradeep Nilanga Dela – Current Acting Diyawadana Nilame Daminda Bandara Udurawana – Chief Custodian of the Kataragama Maha Devalaya and Pasgama Sri Natha Devalaya A.W.S. Bandaranayake – Chief Custodian of the Natha Devalaya and Embekke Sri Kataragama Devalaya Prof. Tilak Subasinghe – Department…
The Ministry of Education has announced the schedule for the end and recommencement of the third school term for 2025 in all government and government-approved private schools. Accordingly, the first phase of the third term will conclude on Friday (07 Nov) for all state schools. The second phase of the third term will commence on Monday, December 8, 2025, for Sinhala and Tamil schools. The second phase of the third term will commence on Monday, November 24, 2025, for Muslim schools. (Newswire) The post School Holidays : New Announcement appeared first on Newswire.
ECONOMYNEXT – The second session of the Joint Commission between Sri Lanka and the United Arab Emirates (UAE) reviewed ongoing cooperation and explored new avenues in key areas such as trade, investment, labour, and other fields of mutual interest. The discussions encompassed a wide range of areas of cooperation, including political, economic, financial, transport, sports, health, customs, energy, labour, defence, science and technology, education, culture, agriculture, food, and postal sectors. The session was co-chaired by the Deputy Minister of Foreign Affairs and Foreign Employment of Sri Lanka Arun Hemachandra, and the Minister of State at the Ministry of Foreign Affairs…
Deputy Minister of State Enterprises, Chathuranga Abeysinghe, has accused think tank Advocata Institute of publishing what he claimed was a politically motivated and misleading analysis on the performance of Sri Lanka’s state-owned enterprises (SOEs). Responding to Advocata’s recent claims that state enterprises continue to make losses, Abeysinghe alleged that the organisation’s data was fed by the political talk show “Bai Thaksalawa” rather than verified economic sources. “The so-called analysis claiming losses for 2025 is based on data fragments taken from biased political commentary, not real figures,” the Deputy Minister said in a Facebook post. He argued that the “era of…
The Sri Lanka–Thailand Business Council held its 24th AGM recently with the presence of key stakeholders and members present. The Council continues to play a pivotal role in strengthening trade, investment, and tourism ties between the two friendly nations. Rooted in centuries of shared cultural and religious heritage, the bond between Sri Lanka and Thailand has evolved into a partnership that blends tradition with modern economic collaboration. The Council, which will celebrate its 25th anniversary next year, has been a cornerstone of this progress, fostering dialogue and cooperation between the private sectors of both countries. Mr. Rizan Nazeer, one of…
All opposition Members of Parliament have been summoned to a special briefing today (06) to discuss the second budget of the current government and the opposition’s strategic response. According to SJB General Secretary and MP Ranjith Madduma Bandara, the session is scheduled to take place at 2:00 PM in Colombo. The briefing will include presentations by several experts, who are expected to provide insights on the national economy, the upcoming budget, and the country’s future trajectory. MP Madduma Bandara stated that the purpose of the session is to equip opposition MPs with key information and talking points ahead of the…
A fire broke out at a matchbox factory in Pallekele, Kandy, last night (5), causing panic in the area.
The Sri Lankan Rupee has depreciated slightly against the US Dollar at commercial banks in Sri Lanka today (06), compared to Tuesday. At Seylan Bank, the buying rate of the US Dollar remains unchanged at Rs. 301.20, while the selling rate is also unchanged at Rs. 306.45. According to NDB Bank, the buying and selling rates of the US Dollar have increased from Rs. 301.25 to Rs. 301.65 and from Rs. 307.75 to Rs. 308.15, respectively. People’s Bank reports that the buying rate of the US Dollar has increased from Rs. 301 to Rs. 301.29, while the selling rate has…
Philippine President Ferdinand Marcos Jr has declared a state of emergency after typhoon Kalmaegi left at least 114 people dead and nearly 130 missing in central provinces in the deadliest natural disaster to hit the country this year. The deaths were mostly from drowning in flash floods, and 127 people were still missing, many in the hard-hit central province of Cebu. The tropical cyclone blew out of the archipelago on Wednesday into the South China Sea. The typhoon’s onslaught affected nearly 2 million people and displaced more than 560,000 villagers, including nearly 450,000 who were evacuated to emergency shelters, the…
ECONOMYNEXT – The United Nations Food and Agriculture Organization (FAO) has helped 7 countries, including Sri Lanka, get 5.8 million dollars from the Kunming Biodiversity Fund (KBF) to integrate biodiversity into agrifood systems and drive action under the Kunming-Montreal Global Biodiversity Framework (KMGBF). In Sri Lanka, the funding will help with the prevention and control of invasive alien species for enhanced biosecurity. The projects will help the Cook Islands, Madagascar, Mexico, Nepal, Sri Lanka, Türkiye and Uganda achieve several KMGBF targets on sustainable agriculture, ecosystem protection, knowledge management, the control of invasive species and the engagement of local communities –…
ECONOMYNEXT – Sri Lanka’s City of Dreams casino is seeing steady increase, and Cinnamon Life hotel within the integrated resort is attracting international conferences, John Keells Holdings has said. “Since its commencement in August 2025, casino operations have been steadily ramping up,” JKH told shareholders in its interim accounts. “During the quarter under review, the Group recognised fixed rental income, while the variable rental component will come into play once the operations reach a certain level of activity, as planned and expected, given the anticipated ramp up of operations.” John Keells Holdings started recognizing depreciation and interest cost linked to…
President Anura Kumara Dissanayake has reviewed the final draft of the 2026 Budget Proposal at the Presidential Secretariat last night (05). According to the President’s Office, Secretary to the Ministry of Finance, Harshana Suriyapperuma, also participated in the review session. This marks the second budget presented by the current government. President Dissanayake, in his capacity as Minister of Finance, is scheduled to present the proposal to Parliament tomorrow (07). (Newswire) The post Final draft of 2026 Budget Proposal reviewed by President appeared first on Newswire.
Photo courtesy of Al Jazeera The term post-war state in the title of this article is based on the fact that in 2009 territory of the post-colonial Sri Lankan state was consolidated through military means. I argue that it is important to take this event into account in understanding challenges for progressive politics in Sri Lanka at present. In order to explain the basis of this assumption, I begin by clarifying how we understand the state. State and state formation The conventional notion of the state analyses the state as a concrete self-contained entity that has attained a final status.…
ECONOMYNEXT – Sri Lanka’s rupee was trading weaker at 304.80/305.00 to the US dollar in the spot market Thursday from 304.55/80 on Tuesday, dealers said, while bond yields dropped by about 3-4 basis points. A bond maturing on 15.02.2028 was quoted at 8.98/9.02 percent. A bond maturing on 15.09.2029 was quoted at 9.48/52 percent. A bond maturing on 15.12.2029 was quoted at 9.50/55 percent, down from 9.55/58 percent. A bond maturing on 01.07.2030 was quoted at 9.70/73 percent. A bond maturing on 15.12.2032 was quoted at 10.43/47 percent, from 10.40/48 percent. (Colombo/Nov6/2025)
Opposition Leader Sajith Premadasa, who is on an official visit to India, has backed India’s long-pending bid for a permanent seat at the United Nations Security Council (UNSC). During an interview with Indian media ANI, Premadasa called it a recognition of “global power realities” and that he will continue to support that effort. Premadasa said India’s inclusion in the UNSC “would be a recognition of the practical realities of international politics.” “Years before, it was I who spoke openly about India being given a permanent seat in the UN Security Council. So it’s an old topic for me,” he said.…