The Ceylon Fisheries Corporation (CFC) is under renewed scrutiny after former chairman Lalith Daulagala and three senior officials were arrested by the Bribery Commission for alleged corruption tied to a 2020 equipment purchase.

The defendants include managing director Chandana Krishantha, supply manager Vijith Pushpakumara and operations manager Anura Chandrasena Bandara.

The accusation centres on the purchase of a vacuum-packaging machine capable of processing up to 2,000 kg of fish per hour that was bought outside the statutory procurement process and, according to the Commission, was unnecessary.

 The alleged result: a loss to the government of Rs. 5,856,116. In addition, the supply manager is charged with demanding and accepting a bribe of Rs.100,000, credited to his personal account, in return for releasing part of payment (Rs. 928,058.20) due to the supplier.

When produced before the Colombo Chief Magistrate’s Court, the court granted bail under two surety bonds of Rs. 1.5 million each, and ordered the suspects to surrender passports.

This scandal arrives against a backdrop of long-standing financial fragility at the CFC. Audit reports reveal that for the year ended 31 December 2019 the auditor issued a disclaimer of opinion, citing insufficient audit evidence and significant uncertainties over the corporation’s financial statements.

Earlier reports show that even basic accounting and timely submission of statements have been neglected.

According to sector data, the fisheries industry remains a valuable yet under-optimised part of Sri Lanka’s economy: the marine fish catch in recent years exceeded 400,000 MT, and the fisheries sector contributes about 2.3 % of export earnings.

Within this context, CFC was recently singled out by the Minister of Fisheries, who confirmed that the Corporation had been loss-making, burdened by an excessive payroll and poor management practices, including “malpractices and corruption” which hampered its performance.

In past efforts to reverse the trend, the CFC reportedly implemented a voluntary retirement scheme, reducing about 270 excess employees, and claimed that salary bills were recently covered by its own income rather than relying on Treasury funds.

The arrests expose two critical issues: first, persistent governance and procurement failings within the CFC; second, the broader challenge of turning around a state-owned enterprise that has struggled financially and operationally for years. The immediate financial damage – nearly Rs. 6 million – may appear modest in the macro sense, but for a corporation already lacking credibility and with audit findings pending, it further undermines stakeholder confidence.

Restoring the corporation’s viability will require more than staff reductions or equipment investments. It demands strong leadership, transparent procurement practices, and rigorous financial oversight areas all flagged as weak by the Auditor-General’s Department.

The CFC needs not just to stop bleeding but to articulate a clear turnaround strategy that aligns with the Ministry’s mission of increased value-addition, reduced post-harvest-losses and enhanced export earnings.

With the bribery case proceeding through the courts, the reputational cost already looms large. The question now is whether the CFC can leverage the spotlight to drive meaningful reform and move from being a cautionary tale of state-enterprise mismanagement into an exemplar of recovery in the fisheries sector.

Sri Lanka risks losing a lucrative 250,000 ton export quota covering vegetable oils and bakery fats to India under the Indo-Sri Lanka Free Trade Agreement (ISFTA), as investors warn of policy inertia and mounting pressure from regional rivals.

The quota, was introduced in 2008 following negotiations with New Delhi, allowing Colombo-based manufacturers to ship products duty-free into India.

Industry insiders say the facility, worth at least US$50 million annually in foreign exchange, could be reassigned to Nepal or Bhutan if Sri Lanka fails to revive its export capacity.

“This is not just an industrial issue it’s a foreign exchange lifeline,” one Indian investor previously engaged in Sri Lanka’s edible oils sector told Sunday Times Business. “Unless the government acts now, we will lose it.”

Exports began in 2002, and by 2006, twelve factories ten Indian-owned and two Sri Lankan were thriving.

But in 2010, India slashed import duties on edible oils from other suppliers to as low as 5 percent, from 42 percent eroding Sri Lanka’s competitiveness.

Ten factories closed almost overnight. Machinery and equipment were dismantled and sold off, in some cases through politically linked deals, leaving only four companies two Indian and two Sri Lankan to continue operations.

In 2022, India reversed course, raising tariffs again and reinstating Sri Lanka’s quota, while extending approval for bakery margarine and fats. For Colombo, the move was an unexpected reprieve, offering a chance to rebuild capacity.

Yet regional competition looms. Analysts say India may increasingly favor Nepal and Bhutan both tightly bound to New Delhi through trade and political agreements over Sri Lanka.

 “If Sri Lanka shows no commitment to using this quota, India has little reason not to shift it northwards,” one South Asia trade analyst noted.

Industry players insist Sri Lanka could quickly capitalise. At least five shuttered factories could be restarted, while two local plants already supplying the domestic market could easily pivot to exports. Together, they could fully utilise the 250,000-ton allocation.

But regulatory roadblocks persist. Companies now fall under the Board of Investment, which demands that outstanding taxes be cleared before operations resume. Investors argue the delay is costing the country dearly.

“The sad truth is that no minister in the present government even understands the importance of this industry,” one investor remarked.

Earnings of “US$50 million a year may not sound transformative, but in Sri Lanka’s fragile balance of payments context, every dollar counts,” said a Colombo university-based economist. “Losing this to Nepal or Bhutan would be a policy own goal.”

For now, the quota remains on paper. But without swift political will, Sri Lanka risks ceding yet another trade advantage this time not to global markets, but to its smaller Himalayan neighbors.

Sri Lanka recorded its highest-ever tourist arrivals for October this year, welcoming 165,193 visitors, marking a 22% year-on-year (YoY) surge and signalling renewed momentum in the country’s post-crisis tourism recovery. The record-breaking month, largely fuelled by a surge in visitors from India, points to a strong winter season ahead and fresh optimism that 2025 could close with all-time high arrival figures.

According to the Sri Lanka Tourism Development Authority (SLTDA), October arrivals surpassed the previous record of 153,123 in 2018, with an average of 5,329 visitors per day—a modest 0.5% month-on-month increase.

India remained the dominant source market, contributing 48,113 visitors (29.1%), followed by the United Kingdom (12,934 or 7.8%), Russia (11,496 or 7%), China (10,864 or 6.6%), and Germany (9,753 or 5.9%). Additional arrivals came from Australia, Bangladesh, France, the United States, and Spain, reflecting Sri Lanka’s broad appeal across key markets.

The robust October performance pushed cumulative arrivals for the first ten months of 2025 to 1.89 million, up 17% YoY, slightly surpassing the 1.88 million tourists recorded during the same period in the benchmark year 2018. India continues to lead as the largest overall source market with 423,405 arrivals (22%), followed by the UK (174,827), Russia (133,640), Germany (116,741), and China (112,454).

Industry stakeholders attribute the upswing to the resumption of international and charter flights, enhanced air connectivity for the winter season, and the country’s growing visibility through international travel rankings. Moreover, the launch of Sri Lanka’s first self-funded, private-sector-led destination marketing campaign has injected new energy into the sector amid frustration over delays in official promotional initiatives.

With strong forward bookings for the upcoming months, industry analysts predict total arrivals could surpass 2.4 million by year-end. However, October’s figures still fell short of the SLTDA’s forecast of 197,693 visitors by around 20% (32,500 tourists).

The SLTDA’s revised 2025 projections now outline three possible outcomes: a “Lower Scenario” of 2.415 million arrivals, a “Conservative Scenario” of 2.676 million, and an “Optimistic Scenario” of 3 million. SLTDA Chairman Buddhika Hewawasam recently confirmed that the authority had adjusted its target to 2.6 million, calling it “a realistic but historic high” compared to the previous record of 2.33 million arrivals in 2018.

To achieve the new target, Sri Lanka must attract 709,313 tourists during the final two months of 2025.

Meanwhile, tourism earnings reached US$ 2.47 billion during the first nine months of 2025, a 5.3% YoY increase, according to the Central Bank of Sri Lanka. While the government’s ambitious US$ 5 billion revenue goal is unlikely to be met, analysts remain confident that 2025 earnings will surpass last year’s US$ 3.17 billion—the highest since 2018 and the fifth-best year on record for the tourism sector.

One Galle Face, Colombo’s landmark shopping and lifestyle destination, is celebrating its sixth anniversary this November, reaffirming its position as Sri Lanka’s leading retail, dining, and entertainment complex.

Since opening its doors in November 2019 under the globally renowned Shangri-La Group, One Galle Face has transformed Colombo’s urban landscape by redefining the shopping and leisure experience. Over six years, it has become a symbol of sophistication and family-friendly entertainment, attracting both local and international visitors.

In 2025, the mall strengthened its reputation as the country’s premier lifestyle destination by earning two major accolades the Most Admired Shopping Center of the Year at the Sri Lanka Leadership Awards 2025 and Sri Lanka’s Most Loved Shopping Mall 2025 from LMD magazine. These recognitions underscore One Galle Face’s commitment to excellence in customer experience and innovation in retail.

Home to more than 300 world-class brands, the mall offers a mix of global fashion, fine dining, and family entertainment. In the past year alone, it expanded its brand portfolio with over 25 new additions, including internationally recognized names such as Carnage, Under Armour, Taco Bell, Levi’s, The Body Shop, and Birkenstock. With further openings planned, One Galle Face continues to evolve as a one-stop lifestyle hub catering to diverse consumer preferences.

Beyond retail, the mall’s growing wellness portfolio now brings together personal care, grooming, aesthetics, and fitness facilities, reinforcing its role as a destination that promotes both indulgence and wellbeing.

 Entertainment remains a major draw, with attractions designed for all age groups. PVR Cinemas, featuring the luxury Director’s Cut and PVR Luxe experiences, offers moviegoers premium comfort, gourmet snacks, and top-tier service. Meanwhile, Playdium Sri Lanka’s largest indoor entertainment center continues to be a favourite among families seeking leisure and excitement under one roof.

Customer engagement has also reached new heights through the One Galle Face Rewards Program, which rewards loyal shoppers with exclusive promotions and experiences such as helicopter rides, luxury cruises, and other curated privileges. The program has been instrumental in building a loyal customer base and enhancing the mall’s reputation for world-class service.

As part of the Shangri-La Group  a global pioneer in luxury hospitalityOne Galle Face has consistently upheld the group’s signature standards of service and quality. Its success story reflects not only the resilience of Sri Lanka’s retail sector but also the growing appetite for integrated lifestyle destinations that combine retail, recreation, and wellness in one space.

 As it celebrates its sixth anniversary on November 8, One Galle Face invites visitors to join its anniversary festivities and experience the vibrancy, luxury, and excitement that have made it the country’s most admired shopping destination.

President Anura Kumara Dissanayake has directed that no wind power projects be implemented on Mannar Islandwithout the consent of its residents, Cabinet Spokesman and Minister of Health and Mass Media Dr. Nalinda Jayatissaannounced yesterday (4).

Addressing the weekly Cabinet media briefing, Minister Jayatissa said that the President’s directive was formally presented to the Cabinet by Power and Energy Minister Kumara Jayakody and subsequently received Cabinet approval for implementation.

He explained that, under the National Renewable Energy Resource Development Plan, Mannar Island has been identified as a site with significant wind energy potential. Three projects had been proposed for the region, including the Thambapavani Wind Power Plant, which began operations in 2021.

The other two projects — the Windscape Mannar (Pvt) Ltd 20 MW Wind Power Project and the Hayleys Fentons 50 MW Wind Power Project — were scheduled to commence in December 2025 and December 2026, respectively.

Archbishop Paul Richard Gallagher, Secretary for Relations with States and International Organisations of the Holy See, paid a courtesy call on President Anura Kumara Dissanayake this morning at the Presidential Secretariat.

President Dissanayake warmly welcomed Archbishop Gallagher, who is visiting Sri Lanka to commemorate the 50th anniversary of diplomatic relations between Sri Lanka and the Vatican. During their discussion, the Archbishop was briefed on the country’s current situation and the progress achieved under President Dissanayake’s administration, the President’s Media Division (PMD) said.

Expressing his appreciation for the Archbishop’s visit, President Dissanayake described it as “a blessing for Sri Lanka.”He noted that the five decades of ties between the Vatican and Sri Lanka have been marked by enduring friendship and cooperation, benefiting the nation not only spiritually but also in promoting human dignity and providing support during times of need.

The President recalled the Vatican’s contributions to Sri Lanka’s education sector and its humanitarian assistancefollowing the 2004 tsunami. He expressed heartfelt gratitude for the Holy See’s continued solidarity and goodwill toward the people of Sri Lanka.

President Dissanayake also extended his best wishes to Pope Leo XIV, wishing him good health and strength.

In response, Archbishop Gallagher conveyed that both he and His Holiness the Pope deeply admire the progress Sri Lanka has made in fostering peace and unity among ethnic and religious communities. He added that, in light of this progress, Pope Leo XIV may consider an official visit to Sri Lanka in the near future.

The Archbishop further commended President Dissanayake’s leadership in restoring economic and political stability, reaffirming the Vatican’s support for Sri Lanka’s ongoing efforts to strengthen ethnic harmony, interfaith understanding, and economic recovery.

The Ministry of Digital Economy today announced a landmark achievement in Sri Lanka’s digital transformation journey, as GovPay, the Government’s flagship digital payment platform, surpassed Rs. 1 billion in transactions and onboarded over 200 government organizations across the country.

Launched in February 2025, GovPay was developed by LankaPay in collaboration with the Information and Communication Technology Agency (ICTA), under the supervision of the Central Bank of Sri Lanka (CBSL), and the leadership of the Ministry of Digital Economy.

The platform enables citizens to make secure, paperless digital payments to government institutions, streamlining administrative processes, reducing manual paperwork, and improving service delivery efficiency.

A comprehensive tsunami mock drill encompassing the entire island is scheduled to take place today (November 5) in line with World Tsunami Awareness Day.

The exercise is organized by a regional body comprising 28 member countries under the Indian Tsunami Early Warning Centre (ITEWC) framework.

According to the Disaster Management Centre (DMC), the simulation will be conducted in five Grama Niladhari Divisions across the coastal districts of Batticaloa, Kalutara, Galle, and Jaffna.

The main national-level event will be held in the Kalutara District, commencing at 8:30 a.m.

Multiple government agencies and institutions — including the DMC, Department of Meteorology, Ministry of Education, Ministry of Health, District and Divisional Secretariats, Tri-Forces, Police, National Disaster Relief Services Centre, local authorities, schools, hotels, and other relevant stakeholders — will take part in this large-scale preparedness exercise aimed at strengthening Sri Lanka’s disaster response and early warning systems.