July 10, Colombo (LNW): Sri Lankan authorities have apprehended four individuals suspected of being part of a coordinated vehicle theft ring operating across several areas in the Western Province, uncovering links to narcotics possession and organised crime.
The arrests were carried out in two separate operations, with the first taking place in Meegoda on July 07. Police detained two suspects in possession of 8.6 grammes of heroin and a vehicle that had been reported stolen just days earlier from the Kadawatha area.
Building on the initial raid, officers later took two more suspects into custody in Hanwella, where they recovered a further 10.45 grammes of heroin, a three-wheeler, and a knife believed to have been used during the commission of several thefts.
Preliminary investigations have revealed that the group had targeted motorcycles and three-wheelers across multiple police divisions, including Avissawella, Wellampitiya, Nawagamuwa, and Kirulapone. So far, two motorcycles and one three-wheeler have been retrieved, the latter having been previously intercepted by Padukka Police.
Authorities believe the suspects were working under instructions from a criminal figure currently residing overseas, allegedly handing over stolen vehicles in return for payment.
The four individuals, aged between 28 and 39, were presented before the Homagama Magistrate’s Court on 8 July. Police say inquiries are ongoing to uncover the full extent of the network’s operations.
July 10, Colombo (LNW): Sri Lanka has emerged as one of the top three global summer travel destinations for July and August, according to Emirates, the world’s largest international airline. The island nation has seen a remarkable 32% increase in flight searches, driven by its rich cultural heritage, scenic beaches, lush tea plantations, and affordable luxury experiences.
This ranking comes from Emirates’ latest analysis of global booking trends, revealing where international travelers are heading during the peak summer months. The data shows a strong global appetite for culturally immersive experiences and off-the-beaten-path destinations in 2025.
Vietnam has topped Emirates’ summer travel chart with a 61% surge in travel interest, followed by the idyllic island of Mauritius, which has seen a 41% increase. Sri Lanka, served by four daily Emirates flights, ranks just behind with its significant growth in search volumes.
Japan also continues to attract international explorers with a 28% boost in searches, thanks to its harmonious blend of ancient tradition and modern innovation. France completes the top five, enjoying a 25% rise in demand. Emirates supports this demand with frequent flights to Paris, Nice, and Lyon.
Emirates’ network-wide data reveals a 7% year-on-year rise in summer flight searches, with countries like Ireland, Canada, Saudi Arabia, Germany, and the UAE showing robust outbound travel interest. Within the UAE, searches for destinations like Sri Lanka, Jordan, France, India, and Lebanon have notably increased by 13%.
The airline’s booking trends also show diverse preferences across regions. U.S. travelers are increasingly eyeing African destinations such as Egypt, Kenya, and South Africa, while UK travelers are searching more for long-haul escapes, including New Zealand, Australia, Japan, Sri Lanka, and Mauritius.
Indian travelers are showing growing interest in Australia, New Zealand, and Ireland. German tourists, meanwhile, are leaning eastward, with high search volumes for Japan, Vietnam, South Korea, and the Seychelles.
Summer vacations, particularly among travelers from India, Australia, the UK, and Germany, tend to be extended, with nearly one-third staying for more than a month. Americans prefer slightly shorter trips of two to three weeks.
Inbound travel to Dubai, Emirates’ home base, is also expected to remain strong this summer, highlighting its year-round appeal. The data shows diverse traveler demographics with distinct patterns. Nearly half of visitors from the US, India, and Australia are solo travelers, blending business and leisure. Family travel is also significant, with one-third of visitors from the US and India traveling as families. UK family travelers tend to extend their stay beyond two weeks.
Couples, especially younger travelers from Australia and Germany, are opting for longer stays ranging from two weeks to a month, maximizing their exploration of Dubai.
As global wanderlust rises, Sri Lanka’s growing popularity reflects a renewed appreciation for destinations that offer cultural depth, scenic beauty, and value for money — all accessible with Emirates’ extensive global network.
July 10, Colombo (LNW): A Sri Lankan court has ordered the destruction of a large cache of unauthorised cosmetic products, following the discovery of an unregulated stockpile stored at a private residence in Wellampitiya.
Valued at over Rs. 1 million, the collection—which included thousands of units of perfumes and skincare items from 35 international brands—was found to have been brought into the country and held without any legal documentation or proof of origin. The Maligakanda Magistrate’s Court issued the order after the individual responsible admitted guilt and was fined Rs. 20,000.
The seizure was carried out by officials from the Consumer Affairs Authority (CAA) during a targeted operation on 28 June 2025, prompted by information suggesting illegal storage and possible distribution of unauthorised cosmetics. Upon inspection, the importer failed to provide any evidence of lawful acquisition, prompting immediate legal proceedings.
Authorities stated that the decision to destroy the goods was based on the absence of essential documentation, such as importer credentials or supplier receipts, raising concerns about product safety and market authenticity.
The CAA reaffirmed its commitment to clamping down on the circulation of unverified goods and warned both retailers and the public against trading in or purchasing items that cannot be traced to legitimate sources.
July 10, Colombo (LNW): Sri Lanka has taken a landmark step in reshaping its research and development (R&D) landscape with the formation of a dedicated national committee to identify and prioritise the country’s most pressing research needs.
In what marks the first initiative of its kind, the newly formed body is tasked with evaluating and categorising research efforts across the nation in alignment with long-term development goals and national interests. The move is intended to bring coherence and strategic direction to a sector long criticised for its disjointed and piecemeal approach.
The committee is jointly led by Professor Gomika Udugamasooriya, Senior Advisor to the President on Science and Technology, and Professor Rohan Fernando, Chairman of the National Science and Technology Commission. A team of 20 experts from a range of disciplines will support this effort, ensuring broad representation across scientific, academic, industrial, and policy-making spheres.
According to the President’s Media Division (PMD), a key focus will be aligning the R&D strategies of universities, public institutions, industries, and government bodies with the country’s development agenda. Another crucial aim is to guide the allocation of public funds for R&D in a way that maximises impact, relevance, and accountability.
Historically, Sri Lanka’s research sector has functioned in silos, often disconnected from real-world application and national progress. This fragmented structure has limited its contribution to both economic growth and social development.
The establishment of the committee signals a shift towards evidence-based policymaking. Data collection will extend from local institutions to national surveys, allowing decisions to be informed by a comprehensive understanding of ground realities.
Ultimately, the government hopes this structured, priority-led approach will help transform the sector into a more effective, responsive, and impactful force for national advancement.
July 10, Colombo (LNW): In a move set to shake international trade relations, Sri Lanka has been named amongst a group of countries targeted by the United States for newly imposed tariffs.
The announcement, made by US President Donald Trump on his social media platform, outlined a fresh series of trade penalties that will come into force on August 01.
The new tariffs, part of a broader economic push by the White House, will see Sri Lankan exports to the US subjected to a 30 per cent duty—the highest tier applied in this round. Iraq, Algeria, and Libya also face the same rate, while the Philippines, Brunei, and Moldova are slated for slightly lower levies at 25 per cent.
Trump personally issued formal notices to the respective heads of state, confirming the measures, and signalled further action may be imminent. He indicated that more countries would soon be added to the growing list, stating online that additional announcements were expected the same day.
This escalation follows on the heels of an earlier round of tariffs introduced just days prior, affecting imports from 14 other nations, including major Asian economies such as Bangladesh, South Korea, and Japan. Rates in that batch reached as high as 40 per cent.
Sri Lanka’s inclusion underscores the widening scope of the US president’s increasingly protectionist trade policy, which had paused temporarily following a turbulent market response. That 90-day hiatus, which began in April following the declaration of what Trump called “Liberation Day,” officially ends this week.
During the pause, the US administration managed to conclude trade arrangements with a limited number of partners, including the UK and Vietnam, while negotiating a short-term agreement with China to ease some of the more severe restrictions.
Despite earlier uncertainty, Trump has now confirmed that the new tariffs will take effect on schedule, with no further delays or exemptions planned. As the August implementation date nears, affected countries—including Sri Lanka—face mounting pressure to respond amid increasing volatility in global trade.
July 10, Colombo (LNW): Several spells of showers will occur in the Western and Sabaragamuwa provinces and in Kandy, Nuwara-Eliya, Galle and Matara districts. A few showers may occur in the North-western province.
Showers or thundershowers may occur at a few places in Uva and Eastern provinces and in Mullaittivu district during the afternoon or night.
Fairly strong winds of about (30-40) kmph can be expected at times over Western slopes of the central hills and in Southern province.
The general public is kindly requested to take adequate precautions to minimise damages caused by temporary localised strong winds and lightning during thundershowers.
Marine Weather:
Condition of Rain:
Showers will occur at several places in the sea areas off the coast extending from Chilaw to Matara via Colombo and Galle.
Winds:
Winds will be Westerly to South-westerly and wind speed will be (30-40) kmph.
Wind speed can increase up to (50-55) kmph at times in the sea areas off the coast extending from Puttalam to Pottuvil via Colombo, Galle, and Hambantota.
Wind speed can increase up to 45 kmph at times in the sea areas off the coast extending from Puttalam to Trincomalee via Mannar and Kankasanthurai.
State of Sea:
The sea areas off the coast extending from Puttalam to Pottuvil via Colombo, Galle, and Hambantota will be rough at times. The sea areas off the coast extending from Puttalam to Trincomalee via Mannar and Kankasanthurai will be fairly rough at times.
The wave height (about 2.5 – 3.0 m) may increase in the sea areas off the coast extending from Puttalam to Pottuvil via Colombo, Galle and Hambantota (this is not for land area).
Naval and fishing communities are requested to be vigilant in this regard.
Sri Lanka’s leading intimate wear brand, amanté, is entering the Gulf Cooperation Council (GCC) market through a partnership with 4R Holdings International (Pvt) Ltd.
4R Holdings, headed by Chairman Mr. M. Rilwan Razick, will serve as the official distributor for amanté in the GCC starting July 2025, overseeing sales and marketing of the brand in the region. This venture marks the company’s first step into the retail sector, expanding its already diverse portfolio, which includes real estate, healthcare, hospitality, and more.
Founded in India in 2007 and later establishing itself in Sri Lanka in 2012, amanté has become one of the most recognized premium lingerie brands in the region, known for blending comfort, fashion, and thoughtful design for the confident woman. Since its acquisition by Reliance Retail Ventures Ltd. in 2021, amanté has expanded its offerings to include not only lingerie but also athleisure, sleepwear, shapewear, and swimwear collections.
Commenting on the partnership, Mr. Razick expressed optimism about the brand’s prospects in the GCC, stating:
“While this may be our first venture into retail, I believe there is a potential for high-quality affordable women’s innerwear in the Gulf region. Sri Lankans and Indians working and residing in the region would already be familiar with the brand, which will be a benefit to us.”
Ms. Padmal Silva, Executive Director of amanté Lanka, echoed the sentiment, saying:
“In addition to providing the highest quality and on-trend products with our lingerie expertise, as a premium international intimate apparel brand, our desire has always been to make the brand more accessible to our customers. We believe this partnership will be a step in the right direction, and GCC is the ideal location.”
With this collaboration, amanté and 4R Holdings aim to bring premium, affordable intimate wear to women in the Gulf region, tapping into an already familiar customer base and meeting the growing demand for quality products.
ECONOMYNEXT – Sri Lanka businessman Kulappu Arachchige Don Dhammika Perera has bought 106.9 million shares of East West Properties PLC for 3.2 billion rupees.
This is approximately 77.40 percent of the issued shares of the company.
The Colombo Magistrate’s Court has granted bail to four suspects, including former Department of Motor Traffic (DMT) Commissioner General Nishantha Anuruddha Weerasinghe, who were arrested over the alleged illegal registration of a vehicle without proper clearance from Sri Lanka Customs.
Colombo Chief Magistrate Thanuja Lakmali Jayatunga delivered the ruling after reviewing submissions made by both the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) and the defense.
According to the court order, three suspects were released on two sureties of Rs. 1 million each, while the fourth suspect was granted bail on a surety of Rs. 500,000. In addition to bail, the Magistrate imposed a travel ban on all four suspects and instructed them to surrender their passports to the court.
The case has been scheduled for further hearing on November 14. The suspects are facing charges related to the unlawful issuance of registration documents for a luxury vehicle, which allegedly caused a financial loss to the state and violated standard Customs and registration procedures.
The Inland Revenue Department (IRD) has launched a series of criminal investigations into persistent tax evasion cases, particularly focusing on Value Added Tax (VAT) defaulters. This crackdown, aligned with recommendations from the International Monetary Fund (IMF) and global anti-money laundering and counter-terrorist financing commitments, marks a significant move toward tightening tax compliance and enhancing state revenue.
Finance Ministry officials confirmed that recovery proceedings have already begun to confiscate assets of defaulters, including directors of five companies who collectively owe Rs. 4.3 billion in unpaid VAT. The IRD is now investigating properties and other holdings of these individuals to reclaim the outstanding dues.
Among the major defaulters is Mendis & Company, with directors Arjuna Aloysius and Anthony John evading nearly Rs. 4 billion—the largest amount recorded in the crackdown. Other notable cases include K.A. Geetha Prasanga, currently serving a prison sentence for evading Rs. 46.6 million, and Samaranayake & Company, whose directors owe more than Rs. 233 million. The company’s appeal is under judicial consideration, and bail has been granted under court-imposed conditions.
While enforcement measures intensify, the IRD has also seen positive compliance. Companies like Vijitha Enterprises and North Sea Company have fully settled their dues of Rs. 32.5 million and Rs. 66.1 million, respectively.
To reinforce its operations, the IRD has established a Financial Intelligence Unit (FIU) to monitor financial flows and combat fraud, along with an Internal Affairs Unit (IAU) and a Complaints Management and Investigation Division to strengthen internal governance and transparency.
Sri Lanka’s VAT reforms, which came into effect on January 1, 2024, have significantly bolstered government revenue. VAT collections rose by 88.6% in 2024, reaching a record Rs. 1.3 trillion—up from Rs. 694.5 billion in 2023—and surpassing income tax for the first time. However, the full impact of VAT on imports remains unrealized due to ongoing import restrictions throughout 2024.
The number of registered VAT-paying entities rose sharply from 14,128 in 2023 to 21,542 in 2024—a 52.5% increase. As of February 2025, this figure had reached 22,043, signaling an expanding tax base and improved compliance, especially within the financial services sector.
Further reforms are on the horizon. A VAT compliance program is currently underway to support the transition to mandatory e-filing by July 1, 2025. This precedes the formal repeal of the Simplified VAT (SVAT) system on October 1, 2025. In tandem, a broader income tax compliance initiative has been introduced to manage the surge in newly registered taxpayers since 2024.
A senior IRD official reiterated the government’s unwavering commitment to combating tax evasion, noting the formation of a special task force to identify and prosecute non-compliant individuals and corporations.
Despite imprisonment in some cases, the IRD affirms that tax liabilities must still be fully recovered, emphasizing that prior incarceration does not exempt defaulters from financial accountability.
