Category: Lead Story
Sri Lanka Outlines Strategic Development Plans for Colombo Port East and West Terminals
Sri Lanka is preparing to revamp its maritime infrastructure by bringing in international shipping lines for terminal operations and advancing major expansion projects at the Port of Colombo, President Anura Kumara Dissanayake announced during the Sri Lanka Economic and Investment Summit 2026. Addressing the forum, President Dissanayake highlighted that while the state will retain ownership […]
Meaning in Every Drop: Sri Lanka’s El Niño Response
An El Niño year is rarely just about drought. It is about extremes. Current forecasts suggest Sri Lanka could face two connected phases. The first may bring heavier rainfall, localised flooding and landslide risks in the latter part of 2026. The second could be a prolonged dry spell stretching well into 2027, putting pressure on […]
Tax exemptions for residential real estate at Port City distort tax regime: Advocata Institute
Residential real estate developments in Colombo Port City currently benefit from a range of tax exemptions and incentives, which create a highly distortionary and unequal tax regime for real estate businesses operating elsewhere in Sri Lanka, the Advocata Institute warned. Both previous regulations (Gazette No. 2343/60 of 4 August 2023) and recent regulations (Gazette No. […]
USS Tulsa Returns to Colombo for Scheduled Port Visit
USS Tulsa (LCS 16), an Independence-variant littoral combat ship, arrived at the Port of Colombo on October 7, receiving a warm welcome from Sri Lanka as the ship returns for its second visit in two years. The port call underscores the enduring U.S.–Sri Lanka maritime partnership and our shared commitment to maintaining peace, security, and […]
Sri Lanka’s Economy Reaches Pre-Crisis Levels but Recovery Uneven, says World Bank Group
Sri Lanka’s economy reached a significant milestone, reaching pre-crisis levels. But the recovery remains incomplete and uneven, with household incomes and labor market outcomes still lagging the broader economic rebound, says the World Bank Group in its twice-yearly economic outlook. Released today, the latest Sri Lanka Development Update, From Recovery to Transformation, projects Sri Lanka’s […]
PM Rings the Bell at CSE to Champion Financial Literacy and Investor Education
As part of World Investor Week (WIW) 2026, the Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) joined stock exchanges around the world in ringing the market opening bell for financial literacy on 5 October 2026, under the patronage of the Hon. Dr. Harini Amarasuriya, Prime Minister of the […]
IMF Reaches Staff-Level Agreement on the Seventh Review under the Extended Fund Facility with Sri Lanka
Washington, DC: After constructive discussions, IMF Mission Chief for Sri Lanka Evan Papageorgiou issued the following statement: “IMF staff and the Sri Lankan authorities have reached staff-level agreement on the Seventh Review under the 4-year Extended Fund Facility (EFF) arrangement and concluded the 2026 Article IV Consultation discussions. The EFF arrangement was approved by the […]
HIP Crosses One Million TEU Milestone; Advances Capacity Expansion Towards Two Million TEUs
Hambantota International Port (HIP) has surpassed one million TEUs in cumulative container throughput since the commissioning of new quay cranes in 2025, marking a significant milestone in the rapid growth of its container operations. The port handled 428,036 TEUs in 2025, while throughput reached 574,196 TEUs in 2026 year-to-date, bringing the combined volume to 1,002,232 […]
Sri Lanka’s Inflation Target is set at 5% for the next three years: CBSL
The Minister of Finance, Planning and Economic Development and the President of Sri Lanka, Hon. Anura Kumara Dissanayake, and the Governor of the Central Bank of Sri Lanka, Dr. P Nandalal Weerasinghe, signed a new Monetary Policy Framework Agreement (MPFA) in terms of Section 26 of the Central Bank of Sri Lanka Act, No. 16 […]
Fitch Upgrades Bank of Ceylon’s IDRs to ‘B-‘, VR to ‘b-‘; Outlook Stable
Fitch Ratings has upgraded Bank of Ceylon’s (BOC) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to ‘B-’, from ‘CCC+’, with a Stable Outlook. Fitch has also upgraded BOC’s Viability Rating (VR) to ‘b-’, from ‘ccc+’, and Short-Term IDR to ‘B’, from ‘C’. The Government Support Rating (GSR) has been affirmed at ‘ns’ (no support). […]
World Bank Approves $110 Million for Climate-Resilient Roads in Sri Lanka
The World Bank today approved $110 million to help Sri Lanka repair and reconstruct 600 kilometers of roads that were severely damaged by Cyclone Ditwah. The new financing, provided through the International Development Association’s Crisis Response Window, will prioritize roads that restore access to markets, schools, and health facilities in the communities most severely affected […]
New ‘Ayubo’ Lottery Will Only Make the Poor Fund Free Healthcare: Advocata Institute
The government’s new ‘Ayubo’ daily lottery will result in lower-income citizens footing the bill for a universal free healthcare system accessible to all wealth brackets, the Advocata Institute warned. The warning follows the launch of the lottery last week by the National Health Development Fund (NHDF), the Ministry of Health and Mass Media, and the National Lotteries […]