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President formalises, expands Navy oversight of foreign maritime security services

Daily FT

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September 24, 2025

DEFENCE Minister and President Anura Kumara Disanayake has directed the Sri Lanka Navy to take charge of providing operational and administrative support for foreign private security companies engaged in protecting merchant vessels.

Inalletter to the Speaker of Parliament dated 20 September 2025, the President said the order was issued under Section 21 of the Navy Act (Chapter 358), citing national interest.

The directive authorises the Navy to main-taina maritime security operation project, covering services and facilities for foreign private maritime security providers. The Navy will also be responsible for storing firearms, ammunition and other equipment belonging to such companies in its armouries, and for transporting the weapons and equipment as required.

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Daily FT

Daily FT

US Fed delivers third rate cut of the year

THE US Federal Reserve lowered its benchmark federal funds rate by 25 basis points on Wednesday to a range of 3.5%-3.75%, marking the third cut this year.

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1 min

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Daily FT

ADB grants $ 200 m loan for water, food security in North Central Province

THE Asian Development Bank (ADB) yesterday said it has approved a $ 200 million loan to support the ongoing Mahaweli Development Program, Sri Lanka's largest multi-use water resources development initiative.

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Daily FT

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Banking assets up 16% YoY to Rs. 24.5 t in 9M

THE banking industry expanded its balance sheet in the nine months to end-September 2025, with total assets increasing to Rs. 24.5 trillion and Profit After Tax (PAT) rising to Rs. 279 billion, according to Central Bank data.

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1 min

December 12, 2025

Daily FT

Daily FT

Cabinet green lights procuring range of vehicles and equipment to boost primary health care system

THE Cabinet of Ministers on Wednesday approved the procurement of a wide range of vehicles and equipment to improve the country's primary health care system.

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1 mins

December 12, 2025

Daily FT

Daily FT

Cabraal discharged on condition he compensates Central Bank in three months

Lawyer argues his client had no intention of causing financial loss to GoSL

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Softlogic Finance to reduce stated capital and write off Rs. 7.6 b retained loss

Finance PLC yesterday announced that its Board of Directors has resolved to reduce the company's stated capital to write off accumulated losses of over Rs. 7.6 billion, which have constrained its ability to pay dividends.The retained loss figure is as at 31 July 2025.

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1 min

December 12, 2025

Daily FT

Daily FT

UN appeals for $ 35.3 m to aid Ditwah-hit Sri Lanka

THE United Nations and humanitarian partners yesterday launched a Humanitarian Priorities Plan (HPP) seeking $ 35.3 million (around Rs. 10.9 billion) to scale-up lifesaving assistance for communities devastated by Cyclone Ditwah.

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Daily FT

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Manchester City defeat Real Madrid to pile pressure on Xabi Alonso

ERLING Haaland scored his 34th goal for club and country this season to give Manchester City a 2-1 win at Real Madrid and leave Xabi Alonso’s position as coach of the Spanish giants in grave danger.

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1 min

December 12, 2025

Daily FT

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A call to protect Sri Lanka’s tourism investors

SRI Lanka’s tourism sector which is often hailed as the lifeline of rural economies has once again been struck by severe weatherrelated devastation.

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Daily FT

UN warns...

“IT would say that the world is not very well prepared for this.

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1 mins

December 12, 2025

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