Daily FT - May 10, 2025

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In this issue

May 10, 2025

Mixed sentiment at Colombo stock market

THE Colombo stock market yesterday ended the week with mixed sentiment.

2 mins

Govt. renews push to finalise legal framework for Sri Lanka Food Science and Technology Agency

THE Government this week decided to expedite the finalisation of a draft bill to legalise the Sri Lanka Food Science and Technology Agency through an Act of Parliament.

1 min

Cabinet clears partial procurement of knee replacement systems amid limited bidding response

THE Cabinet of Ministers at their meeting on Wednesday approved proceeding with the partial procurement of Total Knee Replacement (TKR) component sets, following a limited response to a recent international competitive bidding process.

1 min

Procurement of Amphotericin B to treat life-threatening fungal infections gets Cabinet nod

THE Cabinet of Ministers on Wednesday approved the procurement of 30,000 vials of 50 mg Liposomal Amphotericin B, a critical antifungal medication used to treat severe infections, particularly in patients with compromised immune systems.

1 min

Policy approval for revised Bills of Exchange Amendment Bill

THE Cabinet of Ministers on Wednesday granted policy approval to publish the revised draft of the Bills of Exchange (Amendment) Act in the Government Gazette and subsequently present it to Parliament for approval.

1 min

Solar industry warns looming crisis over policy threats, investment collapse

Claims over 1.5 GWp of solar capacity installed, saving billions in avoided energy costs now at risk

3 mins

Cabinet approves to gazette draft bills to raise national minimum wage for private sector employees

THE Cabinet of Ministers at their meeting on Wednesday approved the publication of revised draft bills in the Government Gazette, after which they will be submitted to Parliament for approval, to increase the national minimum monthly and daily wages of private sector employees in line with recent public sector salary adjustments.

1 min

Govt. begins second batch of bidding for 27 more luxury vehicles

PRESIDENTIAL Secretariat yesterday announced the commencement of second batch of bidding for the sale of 27 luxury and decommissioned vehicles.

1 min

Cabinet green lights draft bill to bring Samurdhi Banks under Govt. audit

THE Cabinet of Ministers at their meeting on Wednesday approved publishing a draft bill amending the Samurdhi Act No. 1 of 2013 in the Government Gazette, as revised by the Divinaguma (Amendment) Act No. 2 of 2017 and to subsequently submit the same to Parliament for its approval.

1 min

Trade war hits emerging market growth, weaker dollar eases some risks: Report

EMERGING-MARKET (EM) issuers are variously exposed to direct and indirect impacts from the global trade war, Fitch Ratings says in a new report.

1 min

Deshabandu summoned before Parliamentary inquiry committee

SUSPENDED Inspector General of Police (IGP) Deshabandu Thennakoon has been summoned to appear before the ‘Committee of Inquiry appointed to inquire and report its findings on Thennakoon in respect of acts of gross abuse of power’ on 19 May.

1 min

Samantha Ranasinghe sworn in as MP

SAMANTHA Ranasinghe was yesterday sworn in as a Member of Parliament (MP) for the Kegalle district before Speaker of the House Dr. Jagath Wickramaratne.

1 min

Bell 212 crash claims six lives

A Sri Lanka Air Force Bell 212 helicopter belonging to the No. 7 squadron yesterday crashed into the Maduru Oya reservoir, claiming six lives, while six other Armed Forces personnel, who sustained injuries in the incident, are currently receiving treatment at the hospital.

1 min

Establishment of Sri Lanka-India Parliamentary Friendship Association in 10th Parliament of Sri Lanka

SRI Lanka-India Parliamentary Friendship Association for the 10th Parliament of Sri Lanka was established on 8 May at the Parliament complex under the patronage of the Speaker of the Parliament of Sri Lanka, Dr. Jagath Wickramaratne.

2 mins

NCPA launches special probe into Kotahena teen's death

■Issues series of directives to Education Ministry Secretary and Provincial Education Directors to strengthen legal compliance, accountability in schools

1 min

Dinesh meets World Bank Group Chief

DURING his brief visit to Sri Lanka, World Bank Group President Ajay Banga met with Employers’ Federation of Ceylon (EFC) Chairman and Union Bank of Colombo PLC Chairman Dinesh Weerakkody.

1 min

NDB Bank reinforces financial resilience with trusted Gold Loan solutions

AS Sri Lanka continues to navigate numerous economic shifts, NDB Bank reaffirms its role as a trusted financial partner through its longstanding and reliable Gold Loan facility.

2 mins

INSEE Ecocycle recognised at BMPC Awards 2025 with dual honours

INSEE Ecocycle Lanka Ltd., the leader in sustainable waste management in Sri Lanka, received prestigious dual honours at the BMPC Awards 2025, organised by the Institute of Chartered Professional Managers of Sri Lanka (CPM Sri Lanka).

1 min

Court of Appeal stays proposed seizure of mandarin consignments

THE Court of Appeal issued an interim order by way of suspension, staying the proposed seizure of consignments of Pakistani mandarins as well as other products imported by MAS Impex Ltd., following a contested move by Sri Lanka Customs to detain the goods over alleged misdeclaration and duty evasion.

1 min

Embassy in Doha organises networking event for promotion of foreign remittances to Sri Lanka

A networking dinner with a team from the People's Bank was organised by the Sri Lanka Embassy in Doha on 7 May 2025, with the participation of the Qatar-Sri Lanka Business Council and the Sri Lanka Business Council.

1 min

US assumes Presidency of Colombo Plan Council

THE United States of America, represented by US Ambassador to Sri Lanka Julie Chung, assumed the Presidency of the Colombo Plan Council during a Special Session held on 7 May 2025.

1 min

Sri Lanka at inaugural WAVES Summit 2025 in Mumbai, India

A delegation from Sri Lanka comprising of professionals from the fields of music, filmmaking, acting, film production and distribution, animation, and gaming participated in the inaugural edition of the World Audio Visual and Entertainment Summit (WAVES) 2025 held at the Jio World Convention Centre, Mumbai, India, from 1 to 4 May.

1 min

WWAD (What Would Amma Do?)

The global leadership model rooted in Sri Lankan wisdom

3 mins

Celebrating “Our Children” on International Day to End Corporal Punishment

MARKING the International Day to End Corporal Punishment, the Stop Child Cruelty Trust (SCC) and the Child Protection Alliance (CPA) organised \"Our Children\", a compelling advocacy initiative to combat violence against children in Sri Lanka.

4 mins

Insight into indigenous Veddha community of Sri Lanka as peace bearers

This article marks our second feature this year promoting May as a month commemorating peace and trust; where one uniform manner in memorialising 18 May emerges, celebrating national unity, life and the right to mourn battlefield death of all beings

9 mins

Cinnamon Grand unveils culinary celebration with chef Phillip Davenport

CINNAMON Grand Colombo invites guests to indulge in an unforgettable culinary celebration with internationally renowned Chef Phillip Davenport, as it honours five decades of fine dining and timeless experiences.

1 min

Fabulous prizes for all at Paw-Sperity Raffle Draw

THE Paw-Sperity Xtravaganza ushered in Avurudu cheer and Easter joy with a treat for the entire family, especially shoppers, where tradition and good cheer met a cause close to its heart—animal welfare.

1 min

Honoring mothers with thoughtful experiences at Hilton Sri Lanka

THIS Mothers' Day, Hilton Sri Lanka invites guests to celebrate the heart and soul of the family with thoughtfully curated experiences. From indulgent meals and elegant high teas to scenic lakeside escapes, discover moments designed to delight the women who do it all.

3 mins

hachajah puts Sri Lanka on global music map with double win at CARAS

■ A cappella artist hachajah wins two CARAS - world's premier a cappella recording awards ■ He joins the ranks of past winners such as global sensation Pentatonix ■ Landmark moment for Sri Lankan music on international stage

1 min

SL: No country for children and youth

CLASSROOMS are becoming a dangerous place for Sri Lankan students, be they in international, private, or Government schools or State universities. In the past few months, the country has seen several high profile suicides by students due to sexual abuse, mental harassment, ragging, and these are just the ones that have got publicised widely while there are others who have taken their own lives or fallen into depression and suffer from serious mental breakdowns silently.

3 mins

NPP post polls: between optics and operationals

THE win this week of the National People's Power at the 2025 local government elections is not a black swan event although in many respects it is a departure from the norms.

6 mins

Being prompt to respond to Trump

Several discussions at different levels have erupted in Sri Lanka to propose and discuss the options available. Some options proposed are retaliatory moves similar to China's response. China is the second-largest economy in the world and a strong player in international trade. China can afford to retaliate against Trump's reciprocal tariffs.

8 mins

Sri Lanka, India clash in Women's Tri-Nation ODI Series final tomorrow

HOST Sri Lanka led by Chamari Athapaththu and India captained by Harmanpreet Kaur will meet in the Women’s Tri-Nation ODI Series final at the R. Premadasa International Cricket Stadium tomorrow commencing 10 a.m.

1 min

South Africa end their campaign with win

Beat Sri Lanka by 76 runs in final league match of Women's Tri-Nation Series

2 mins

Strong second half rally takes Trinity in to final

TRINITY College produced a dominant second-half performance to secure a 29/12 victory over Zahira College in the first semi-final of the President’s Trophy Knockout Tournament, played at the Royal Sports Complex yesterday.

1 min