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Sri Lanka Signs SAR 517 Million Debt Restructuring Deal with Saudi Fund

14Jul

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Sri Lanka Signs SAR 517 Million Debt Restructuring Deal with Saudi Fund

Sri Lanka reached a key milestone in its external debt restructuring efforts today with the signing of Bilateral Amendatory Loan Agreements with the Saudi Fund for Development (SFD) in Colombo. The agreements, amounting to SAR 517 mn (516,951,065.02) restructure loans previously extended by the SFD, marking a major step forward in Sri Lanka’s broader debt recovery framework. The Kingdom of Saudi Arabia has remained a steadfast partner throughout Sri Lanka’s economic crisis, continuing loan disbursements even after the country declared a debt standstill. This ongoing support has been critical in maintaining momentum on key development projects. The SFD loans, provided on concessionary terms, have also contributed significantly to easing Sri Lanka’s debt burden. The agreements were ...

Saudi supported Wayamba University Township project inaugurated

14Jul

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Saudi supported Wayamba University Township project inaugurated

The Wayamba University Township Development Project was officially inaugurated today, marking a significant milestone in educational collaboration between the Kingdom of Saudi Arabia and Sri Lanka. The project, a concessionary loan by the Saudi Fund for Development (SFD), is valued at USD 28 million (approximately SAR 105 million) and is aimed at enhancing educational infrastructure to serve over 5,000 students annually in the Kuliyapitiya and Makandura areas. Speaking at the event, Khalid bin Hamoud Alkahtani, the Ambassador of Saudi Arabia to Sri Lanka, described the project as a “developmental achievement that embodies the depth of relations” between the two nations. He noted that Saudi Arabia views the building of universities as a foundation for a brighter future and a bridge fo...

Fonseka says SJB will come down to 1 million votes next time

14Jul

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Fonseka says SJB will come down to 1 million votes next time

Field Marshal Sarath Fonseka says the opposition Samagi Jana Balawegaya (SJB) will only secure around 01 million votes in the next election, which will be less than that obtained in previous elections. Addressing a public gathering, Sarath Fonseka revealed that several senior members and activists of the SJB have already started leaving the party, hinting at displeasure within the party. “First, Welgama left. Then Champika, Rajitha, Thalatha and Fonsek left. Now the party is only left with ‘yes-men’, who agree to every decision of the party leader,” he said. Sarath Fonseka said that it is difficult to embark on a journey to develop the country with such people. (Newswire) “Our country has become like this due to corrupt politics. Our people delayed taking a decision to change...

Colombo Uni to launch nationwide movement for UN World Tourism Day 2025

14Jul

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Colombo Uni to launch nationwide movement for UN World Tourism Day 2025

The University of Colombo is set to mark the United Nations World Tourism Day 2025 with a nationwide movement that fosters awareness, education, and innovation in tourism, with a strong emphasis on sustainability and youth engagement. Under the theme “Tourism and Sustainable Transformation,” the Ministry of Tourism, Sri Lanka Tourism Development Authority (SLTDA), Sustainable Tourism Unit and the Alumni Association of Tourism Economics and Hospitality Management (Alumni ATEHM) of the University of Colombo have joined forces to launch a series of events. The events will span from August through September, culminating in a grand celebration starting from the 27th to the 1st of October, 2025, at the One Galle Face and Bandaranaike Memorial International Conference Hall (BMICH) in Colom...

Gold-plated T-56 rifle : Duminda Dissanayake granted bail

14Jul

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Gold-plated T-56 rifle : Duminda Dissanayake granted bail

The Colombo High Court has ordered the release of former Minister of Agriculture Duminda Dissanayake, who was arrested and remanded in connection with the gold-plated firearm that was found at an apartment complex in Havelock Town. During court proceedings today, the former minister was released on strict bail conditions. Former minister Duminda Dissanayake was arrested in May in connection with the gold-plated T-56 assault rifle that was found at the Havelock City Apartment complex in Wellawatte. Two women, aged 40 and 68, were initially arrested over the possession of the weapon. The investigations into the rifle were handed over to the Terrorism Investigation Division (TID), after which former minister Duminda Dissanayake was arrested. (Newswire)

Rajitha Senaratne files anticipatory bail to prevent arrest

14Jul

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Rajitha Senaratne files anticipatory bail to prevent arrest

Former minister Rajitha Senaratne has filed an anticipatory bail application before the Colombo Magistrate’s Court, seeking to prevent his arrest by the Bribery Commission. The anticipatory bail has been filed after the court was informed on Friday by the Bribery Commission that Rajitha Senaratne was evading arrest in connection with a sand mining deal that caused an Rs. 26.2 million loss to the state. Bribery Commission officials told the court that Senaratne has disconnected his phone, abandoned his residence, and ignored multiple summons, adding that a medical report submitted through his lawyer was deemed invalid. The Bribery Commission had proceeded to seek a warrant, but the magistrate noted that such a request requires formal documentation. The court had then reminded th...

Rs 574M Allocated, But Only Rs. 23M Spent – President Grills Officials in Hambantota

11Jul

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Rs 574M Allocated, But Only Rs. 23M Spent – President Grills Officials in Hambantota

President Anura Kumara Dissanayake emphasised that, while steering the country forward economically and improving the people’s standard of living, political authorities and public officials should be integrated into a unified system. The President stated that no one can work in isolation and he called upon everyone to support the government’s initiatives aimed at benefiting the public. President Anura Kumara Dissanayake made these remarks this morning (11) while attending the Hambantota District Special Coordination Committee meeting held at the auditorium of the Hambantota District Secretariat. Issues and challenges in the district’s development activities were extensively discussed, including problems in the agriculture, fisheries, health, education, rural roads, land and irriga...

Court told Rajitha Senaratne evading arrest

11Jul

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Court told Rajitha Senaratne evading arrest

The Bribery Commission on Friday told a Colombo court that former Fisheries Minister Rajitha Senaratne is evading arrest in connection with a sand mining deal that caused a Rs. 26.2 million loss to the state. Officials said Senaratne disconnected his phone, abandoned his residence, and ignored multiple summons. A medical report submitted through his lawyer was deemed invalid. According to Ade Derana, The Commission sought a warrant, but the magistrate noted such a request requires formal documentation. The court reminded the Commission it has the authority to arrest suspects and instructed it to act accordingly. (Newswire

Supreme Court upholds 20-year sentence in Rs 3.9 Bn VAT fraud case

11Jul

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Supreme Court upholds 20-year sentence in Rs 3.9 Bn VAT fraud case

In a landmark ruling, the Supreme Court of Sri Lanka today upheld the sentencing of businessman Mohammed Kuthubdeen to 20 years of rigorous imprisonment along with a hefty fine, for his involvement in a massive VAT tax fraud amounting to Rs. 3.9 billion. During proceedings held today, the Supreme Court upheld the judgment previously issued by the Colombo High Court and affirmed by the Court of Appeal. The appeal lodged by the convicted businessman had sought to overturn the High Court’s decision, but the Attorney General’s office argued that the original sentence, previously validated by the Court of Appeal, should remain unchanged. The Supreme Court justices, including Janak De Silva, Arjuna Obeyesekere, and Sobhitha Rajakaruna, delivered a unanimous verdict confirming that the a...

MPs briefed on education reforms to be implemented from 2026

11Jul

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MPs briefed on education reforms to be implemented from 2026

The first awareness programme on the proposed education reforms to be implemented from the year 2026 was held in Parliament today under the patronage of the Minister of Education, Prime Minister Harini Amarasuriya. During the session, Members of Parliament were briefed on key aspects, including the objectives and goals of the new reforms, the guiding principles behind the reforms, the main pillars of the reformed education system, curriculum revisions, implementation procedures, and teacher training. Clarifications were also provided on how the new education reforms will be implemented and monitored by the Ministry of Education, the National Institute of Education, and the National Education Commission. The discussion further highlighted that the primary aim of the new education r...