Photo courtesy of FloodList The most devastating natural disaster to hit Sri Lanka in decades, Cyclone Ditwah, has forced the country into its most severe climate-related humanitarian crisis in recent memory. Sri Lanka is only beginning to recover and analysts are only now starting to review the disaster in its totality and examine its economic, health and agricultural impacts and the methods by which the country can pursue the challenging pathway that lies ahead. A study by Prof. Lakshman Galagedara, a specialist in hydrology and agrophysics, estimates that Sri Lanka received close to 10% of its total yearly rainfall in…
The Sri Lankan Report
ECONOMYNEXT – India has committed 450 million dollars to Sri Lanka for Cyclone Ditwah recovery, External Affairs Minister S Jaishankar said in Colombo after meeting President Anura Dissanayake as special envoy from the Indian PM. India was the first to respond to the Ditwah disaster, providing relief supplies, helicopters, medical support and also Bailey Bridges restore road links. “Recognizing the urgency of re-building Prime Minister Modi directed that we now engage with the Sri Lankan government to address their priorities in that regard,” Jaishankar said. “The assistance package we have proposed is worth 450 million US dollars. “It will include…
Fitch Ratings-Hong Kong: Most sovereigns in the region should have sufficient buffers in 2026 to weather higher US tariffs and slower growth in China. However, several countries face weak domestic activity, geopolitical tensions or possible resurfacing of social unrest, which could lead to spending pressures or even disruption. Dampened import demand from the US – following the tariff hikes – and China should affect Asia’s non-tech exports in 2026, while some economies should continue to benefit from strong trade in AI, even if this is likely to moderate. We expect China’s growth to slow to 4.1% from 4.8% in 2025,…
ECONOMYNEXT – Sri Lanka’s rupee was trading at 309.60/85 to the US dollar in the spot market Tuesday, from 309.50/65 the previous day, after having depreciated in recent weeks, dealers said, while bond yields edged up on shorter tenors. Sri Lanka’s rupee has fallen from around 292 to the dollar in December 2024, amid record current account surpluses and narrowing budget deficits, as the central bank selectively denied convertibility to private importers after buying dollars and creating liquidity. RELATED: Sri Lanka’s exchange rate depreciation by ‘Political Ravishment’ A bond maturing on 15.10.2028 was quoted at 9.15/20 percent. A bond maturing…
ECONOMYNEXT – The cost of maintaining a domestic cash buffer by overborrowing, which was said to have been around 1.2 trillion by November costs about an extra 2 percent to maintain, the parliament’s Committee on Public Finance was told. “There is a margin of about 2 percent between the borrowing and the return we get,” Additional Director General, Treasury Operations, Damitha Rathnayake said. “So we are downsizing it.” It was not clear whether the 2 percent was an average cost or the marginal cost of over-issuing longer term bonds and under-selling cheaper Treasury. In Sri Lanka there is more money…
Police have deployed additional officers across Colombo city following a shooting incident that occurred between Nugegoda and Kohuwala junction this evening.
Toll collection at the Kerawalapitiya Interchange on the Colombo Outer Expressway will be discontinued from today (22).
The Colombo Municipal Council (CMC) administration has the option of presenting a fresh budget within 14 days, in accordance with the Local Government Ordinance, a long-standing member of the CMC said.
Former Senior Professor of the Geological Science at the Faculty of the Peradeniya University Athula Senaratne, said the decision to remove all constructions in the hill country at an elevation above 5,000 feet would affect the country’s economy and the tourism sector.
The ruling party, National People’s Power (NPP), lost the Colombo Municipal Council (CMC) budget proposal by a margin of 3 votes.
A 25-year-old man was injured following a shooting incident between Nugegoda and Kohuwala junction this evening, police said.
Amendments to the Central Environment Authority (CEA) Act are currently being finalised and are expected to be presented to Parliament within the next three to four months, CEA Director General Kapila Rajapaksa said today.
Sri Lanka are currently placed fourth in the ICC World Test Championship 2025–27 standings following New Zealand’s 2–0 series victory over the West Indies.
The Colombo Stock Exchange (CSE) began the week on a weak footing, with both key indices closing sharply lower amid broad-based selling pressure. Investor sentiment turned increasingly cautious, weighed down by economic uncertainties and lingering after-effects of the recent cyclone, prompting a clear risk-off approach.
Sri Lanka’s export earnings from January to November 2025 has recorded USD 15,776 million, an annual growth of 5.8 per cent when compared to the same period in 2024, Chairman and CEO of the Export Development Board, Mangala Wijesinghe said.
The U.S. Department of Homeland Security has announced a new incentive offering undocumented migrants a $3,000 cash payment and a free flight home if they voluntarily leave the United States by the end of the year. Under the program, migrants can register for voluntary departure through the CBP Home mobile application. The stipend will be issued after authorities confirm that the individual has returned to their home country, officials said. The incentive represents an increase from a previous voluntary departure payment of $1,000 and is aimed at encouraging migrants to leave without formal arrest or detention. Homeland Security officials said…
Former India cricketer and commentator Aakash Chopra has said he is no longer associated with the Asian Legends League, even as the Emirates Cricket Board warned that the tournament is unauthorised. In a statement posted on social media, Chopra said he has no association with the league’s second season “in any manner whatsoever,” distancing himself from promotional material that had earlier named him as league commissioner. Chopra had attended the league’s official launch event earlier this month in Mumbai, where organisers announced plans for the second season of the tournament. Separately, the Emirates Cricket Board said the Asian Legends League…
More details have emerged into the fatal shooting of a manager at a commercial establishment in Ambalangoda on Monday (22), as police investigations point to organised crime links and longstanding criminal associations. Police said the victim, a resident of Ambalangoda, was shot dead inside the premises where he was employed at around 8.30 a.m. on December 22. CCTV footage examined by investigators shows a gunman arriving at the location and attempting to shoot the victim, but the firearm malfunctioned. The suspect then fled the scene. A short time later, the gunman returned with another revolver and opened fire, killing the…
The Urban Development Authority has appointed development specialist M. G. Hemachandra as its new chairman. Hemachandra assumed duties at the Urban Development Authority on December 20, in the presence of Deputy Minister of Urban Development Eranga Gunasekara and senior officials. He brings extensive experience in development planning and project implementation, having previously served as a senior expert and loan project head at the Japan International Cooperation Agency in Sri Lanka. Hemachandra has also worked at the National Water Supply and Drainage Board and the Central Engineering Consultancy Bureau. He currently serves as a vice president of the Institution of Engineers…
The ruling National People’s Power (NPP) has lost the budget vote at the Colombo Municipal Council, dealing a political setback to the party despite it continuing to control the council. Although the NPP did not secure an outright majority at the local government election, it was able to form the administration of the Colombo Municipal Council with the support of smaller groups. However, the council’s budget was defeated after the joint opposition voted against it. 60 councillors voted against the budget while 57 supported it. Under Sri Lanka’s local government law, the defeat of a budget does not automatically dissolve…