January 02, Colombo (LNW): The process of transferring information regarding candidates who failed to submit their required income and expenditure reports for the 2024 parliamentary elections to the police has officially begun.
This action follows the completion of initial investigations into the non-compliance with electoral regulations.
R.M.A.L. Rathnayake, the Chairman of the National Election Commission (NEC), confirmed that the procedure is being carried out at the district level.
He explained that the district returning officers are responsible for handing over the relevant files to the police, marking the next step in ensuring accountability for election-related breaches.
These reports concern candidates who did not submit the necessary financial documentation as required by the election laws, an important aspect of maintaining transparency and fairness in the electoral process.
As part of the legal proceedings, the Deputy Inspector General of Police for each province will oversee the investigation and take further action where necessary, ensuring that violations are addressed in accordance with the law.
January 02, Colombo (LNW): In a bid to ensure fairness and maintain the integrity of the Grade 5 Scholarship Examination, the Department of Examinations has announced that students who took part in the recent exam will receive free marks for three questions that were leaked ahead of the test.
This decision comes after a directive from the Supreme Court, which sought to rectify the situation and address the concerns raised by the leak.
The announcement was made by the Commissioner General of Examinations, who confirmed that the marks for the three compromised questions would be added to students’ overall scores.
This move is intended to preserve the credibility of the examination, which plays a crucial role in determining school admissions and scholarship opportunities for young students across the country.
The controversy arose when it was discovered that three questions from the exam had been leaked before the scheduled test date, sparking widespread concerns about fairness and the potential impact on students’ performance.
The leak prompted an immediate investigation, with the authorities moving swiftly to address the issue and prevent any unfair advantage for those with prior knowledge of the questions.
January 02, Colombo (LNW): The Sri Lanka Police have unveiled a new digital tool aimed at improving road safety across the country: the E-Traffic App.
This innovative mobile platform is designed to enable the public to report traffic violations swiftly and efficiently, contributing to a safer driving environment for all.
With the E-Traffic App, citizens can now play a proactive role in identifying and addressing road-related offences by submitting photographic or video evidence directly to the police.
This system not only streamlines the reporting process but also empowers members of the community to assist in the enforcement of traffic laws, thus helping to deter reckless driving and other dangerous behaviours on the roads.
The app can be easily downloaded via this link: E-Traffic App.
January 02, Colombo (LNW): In a move aimed at stabilising the cost of living, the Ministry of Finance, Planning and Economic Development has confirmed that the import duties on 63 essential items, including key foodstuffs, will remain unchanged.
A gazette notification to this effect was issued on December 31, 2024.
The decision to keep the existing import duties in place is designed to prevent any rise in prices for staple goods, such as dhal, white sugar, potatoes, onions (both big and red), coconut oil, vegetable oil, canned fish, and dried chillies.
By maintaining the current duty rates, the government seeks to cushion the impact of potential price hikes on everyday essentials, which are critical for the general population.
In addition to these food items, the Ministry also confirmed that duties on a range of other products, including rice, millet, green gram, maize, turmeric, fruits, fish, and dried fish, will remain at the same levels.
This decision is particularly aimed at safeguarding Sri Lanka’s local agricultural and fisheries industries, as it seeks to provide stability for domestic producers who might otherwise face competition from imported goods.
By prioritising the stability of essential goods, the Ministry aims to help families manage the rising cost of living while encouraging sustainable growth in agriculture and fisheries within Sri Lanka.
January 02, Colombo (LNW): The Ministry of Defence has officially appointed Major General (Retired) Ruwan Wanigasooriya as the new Chief of National Intelligence, effective from January 01, 2025.
The announcement was made following the issuance of his letter of appointment, which was handed to him by Defence Secretary, Air Vice Marshal Sampath Thuyacontha (Retd), on the same day.
Major General Wanigasooriya, who brings with him a wealth of experience in military and intelligence operations, has now assumed responsibility for overseeing Sri Lanka’s national intelligence apparatus.
He began his new role promptly, taking up his duties at the Defence Ministry’s office in Sri Jayawardenepura Kotte.
This key position became vacant following the retirement of Major General Ruwan Kulatunga, who held the position of Chief of National Intelligence before stepping down.
Wanigasooriya, with his extensive background in defence and national security, is expected to provide strong leadership and strategic direction to the intelligence services.
January 02, Colombo (LNW): The Colombo Stock Exchange (CSE) has officially announced the appointment of Vindhya Jayasekera as its Chief Executive Officer (CEO) Designate, effective from January 01, 2025.
With this appointment, Jayasekera is set to take over from the current CEO, Rajeeva Bandaranaike, who will retire later in 2025 after a remarkable 11-year tenure at the helm of the CSE.
In a statement released by the CSE, it was highlighted that Ms. Jayasekera brings with her a wealth of experience spanning over 20 years in the capital markets.
Her expertise covers both the buy-side and sell-side of the financial sector, including significant roles in investment banking and asset management.
Her extensive background has shaped her into a highly skilled leader, well-versed in navigating the complexities of the financial world.
Before her appointment as CEO Designate, Jayasekera was the Chief Investment Officer at NDB Wealth Management Limited, where she played a pivotal role in the management of assets under her supervision, which amounted to approximately Rs. 380 billion.
In this capacity, she oversaw a broad portfolio of investments, including treasury bills, bonds, debentures, corporate debt, and equity, managing more than Rs. 100 billion in mutual fund assets spread across eight funds with varying risk-return profiles.
Ms. Jayasekera’s career began at NDB Investment Bank, where she was part of the teams responsible for executing some of the most significant initial public offerings (IPOs) in the history of the CSE at that time.
Her work in this area played a key role in the development and expansion of the stock exchange’s offerings.
A Chartered Financial Analyst (CFA) Charter holder, Jayasekera is also accredited as a Financial Risk Manager (FRM) by the Global Association of Risk Professionals.
She is an Associate Member of the Chartered Institute of Management Accountants (CIMA) and holds the prestigious Chartered Global Management Accountant (CGMA) designation.
January 02, Colombo (LNW): Today marks the beginning of the final stretch for the 2024 academic year in government schools and those private institutions approved by the government, with the commencement of the third and final school term.
This term will run until January 24, ensuring students have ample time to complete their coursework before the term’s conclusion.
In addition to this, the long-awaited final examinations for the term are set to begin tomorrow, January 03, providing an opportunity for students to demonstrate their progress and knowledge acquired throughout the year.
These exams are expected to play a significant role in determining final grades for students across various subjects.
Looking ahead, the academic year for 2025 will begin on January 27, marking the start of the first term, which will continue until March 14.
This gives families and educators a brief break before the school calendar picks up again.
The first school term in 2025 will see the introduction of new students as well, with children entering Grade 01 for the first time.
These young learners are scheduled to start their school journey on Thursday, January 30.
This date marks a significant milestone for both the students and their families, as they prepare for the transition into formal education.
Further into the year, the second phase of the first term for 2025 will occur from April 01 to April 11, with the final stretch of the term taking place from April 21 to May 09.
January 02, Colombo (LNW): Showers or thundershowers will occur at times in Central, Uva and Southern provinces and in Ampara and Batticaloa districts, with showers or thundershowers being expected to occur at several places in Western and Sabaragamuwa provinces during the afternoon or night, the Department of Meteorology said in its daily weather forecast today (02).
Fairly strong winds of (30-40) kmph can be expected at times over Northern, Eastern, North-central, North-western and Southern provinces.
Misty conditions can be expected at some places in Western, Sabaragamuwa and Central provinces during the morning.
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 or thundershowers will occur at times in the sea areas extending from Batticaloa to Beruwala via Pottuvil, Hambanthota and Matara.
Winds:
Winds will be north-easterly in the sea areas around the island and speed will be (30-40) kmph. Wind speed can increase up to (50-60) kmph at times in the sea areas off the coast extending from Colombo to Kankasanthurai via Puttalam. Wind speed can increase up to (40-50) kmph at times in the sea areas off the coast extending from Kankasanthurai to Galle via Trincomalee and Hambanthota.
State of Sea:
The sea areas off the coast extending from Colombo to Kankasanthurai via Puttalam will be rough at times. Other sea areas may be fairly rough at times. Temporarily strong gusty winds and very rough seas can be expected during thundershowers.
January 01, Colombo (LNW): In a landmark development for Sri Lanka’s renewable energy sector, Liege Capital Holdings successfully concluded the second wind power securitisation for the Ceylex Renewables Mannar project, for Rs. 6.5 billion branded as “Windscape Mannar.”
This groundbreaking transaction was led by the National Savings Bank (NSB) as the Lead Banker and Trustee, with Commercial Bank of Ceylon as the co-investing bank.
The securitisation raises significant capital for Windscape Mannar, a project poised to harness Mannar’s wind potential to meet Sri Lanka’s growing energy needs sustainably.
NSB CEO Shashi Kandamby said: “As the Lead Banker and Trustee of this transaction, we are proud to support a pioneering project that aligns with Sri Lanka’s renewable energy goals. National Savings Bank remains committed to facilitating sustainable financing solutions that contribute to our nation’s energy independence and environmental preservation.”
Commercial Bank Managing Director/CEO Sanath Manatunge said: “This collaboration demonstrates the strength and benefits of banking partnerships in addressing the financing needs of Sri Lanka’s energy transition. Commercial Bank is honoured to play a critical role in co-investing in a project that sets benchmarks for future renewable energy financing.”
Ceylex Renewables CEO Sameera Ganegoda said: “Windscape Mannar is a testament to our commitment to innovation and sustainability. With the support of NSB, Commercial Bank, and Liege Capital Holdings, we are proud to lead Sri Lanka toward a greener energy future.”
Liege Capital Holdings CEO Maduranga Jayasundara said: “This transaction exemplifies how innovative financing can unlock the potential of renewable energy projects in Sri Lanka. By structuring scalable solutions like securitisations, we’re paving the way for future growth in the sector.”
The successful securitisation of Windscape Mannar marks a milestone in Sri Lanka’s renewable energy landscape. It sets a strong precedent for innovative financing, driving investments in clean energy projects and showcasing the potential of structured solutions in advancing the country’s sustainability goals.
January 01, Colombo (LNW): As Sri Lanka enters 2025 under a new government, the challenges of governance, corruption, and inefficiency remain pressing concerns.
Despite promises of good governance and a corruption-free public sector, significant reforms are needed to create by the new government for a sustainable and transparent system.
One major issue lies in governance weaknesses that hinder private sector development. Contract enforcement and property rights protection are severely constrained. Multi-year delays in resolving contract disputes make courts ineffective, pushing parties toward alternative, often illicit, methods of adjudication.
Similarly, confusion over property rights and the lack of digitized land records have led to prolonged legal battles, often resolved through opaque and corrupt means. Risks surrounding state-owned land, which constitutes 80% of the country, are particularly severe due to unclear titles and ambiguous processes for divestiture.
Concerns about judicial integrity also persist. Many private parties resort to illicit payments to expedite resolutions, undermining trust in the legal system. Strengthening judicial independence and competency has become critical for restoring confidence in the rule of law.
The report emphasizes immediate and structural reforms to address corruption and improve governance.
Key recommendations of the International Monetary Fund include bridging gaps in legal frameworks, ensuring access to essential information for oversight, and implementing structural measures to enhance transparency and efficiency.
A coherent approach focuses on: Defining clear authority and responsibility for core functions.Ensuring financial and operational independence for accountability and law enforcement institutions.
Promoting transparency in government practices, especially in public spending and asset management and establishing accessible and rule-based mechanisms to enforce agreements and challenge official misconduct are also essential.
Enhancing public access to information and accountability mechanisms is a vital factor to achieve these objectives.
The plan combines short-term actions to deliver visible improvements with long-term structural reforms to reshape public sector operations. These initiatives aim to align governance practices with the social and economic aspirations of Sri Lanka.
Achieving these objectives will require medium- to long-term efforts, significant resources, and support from international partners. The diagnostic recommendations will inform governance and anti-corruption policies, legal reforms, and measures outlined in the Extended Credit Facility Arrangement for Sri Lanka.
While the road ahead is challenging, the combination of immediate actions and structural reforms is crucial for building a transparent, efficient, and accountable governance system.
