Sri Lanka economy grew 5% in 2025: CBSL tells CoPF

Field Marshal Sarath Fonseka has warned that certain groups are once again trying to create instability in Sri Lanka and called on the public to remain vigilant.

Sri Lankan President Anura Kumara Dissanayake met senior Urban Development Authority (UDA) officials in Colombo yesterday (May 18) to review new UDA development projects and stress that this year’s budget allocations must be fully and effectively used within the same financial year.

A total of 5,289 Tri Service personnel have been granted promotions to their next respective ranks in line with the 17th National War Heroes’ Commemoration Day, which falls on May 19, 2026.

Sri Lanka is set to introduce new amendments to the Inland Revenue Act on May 19, 2026 making several tax-related violations criminal offences punishable by fines of up to Rs. 400,000 and prison terms of up to six months.

Sri Lankan authorities have announced a fuel subsidy of Rs. 100 per litre for diesel and Rs. 20 per litre for petrol for the next three months amid rising global oil prices linked to the Middle East conflict.

Seventeen years have passed as of today (May 18) since the Government of Sri Lanka defeated the LTTE terrorists after a 30-year war.

Western Province Governor Hanif Yusoof said today (May 17) that he had earlier informed Sri Lankan President Anura Kumara Dissanayake of his wish to resign.

People’s Bank says an exchange rate application error in one currency within a specific remittance system led to some customers receiving excess amounts between May 2023 and March 2026, with the estimated financial impact amounting to around Rs. 656 million.

The IMF said it expects its Executive Board to take up Sri Lanka’s combined Fifth and Sixth Reviews under the Extended Fund Facility (EFF) in the coming weeks, and that approval would allow Sri Lanka to access about US$700 million in financing.

SriLankan Airlines says investigations are underway into an AED 974,000 payment fraud in the UAE and an alleged INR 22 million misappropriation at its Chennai office in India.

The Ministry of Finance, Planning and Economic Development of Sri Lanka has decided to impose a 50% surcharge on customs import duties applicable to vehicles imported into the country.

Sri Lanka has managed the ongoing energy crisis without fuel queues or power cuts by bearing the costs without burdening the public but the crisis is not yet over, Prime Minister Dr. Harini Amarasuriya said.

A slow train travelling from Polgahawela to South Kalutara derailed between Kelaniya and Wanawasala early today (May 16), leaving 10 passengers with minor injuries and disrupting train operations on the main railway line.

Marking a significant milestone in Sri Lanka’s digital economy, the official announcement on the expansion of PayPal services in Sri Lanka was made today (May 15) at the Galle Face Hotel in Colombo, under the patronage of Prime Minister Dr. Harini Amarasuriya.