At least eight people were killed and one child injured after a house collapsed in Kabul on Friday following an earthquake, Afghanistan’s National Disaster Management Authority said.

The quake, measuring 5.9 in magnitude, struck the Hindu Kush region at a depth of 177 km, according to the German Research Centre for Geosciences (GFZ).

Tremors were felt across the region, including in Kabul, Islamabad, and New Delhi, witnesses said.

Afghanistan is highly vulnerable to natural disasters, particularly earthquakes, which cause significant casualties each year due to the country’s mountainous terrain and fragile infrastructure.

The incident follows a 6.3-magnitude earthquake in November that killed at least 27 people and destroyed hundreds of homes.

Showers or thundershowers will occur at several places in most parts of the island after 1.00 p.m. 

Fairly heavy falls above75 mm are likely at some places in Central, Sabaragamuwa, Uva, North-central and Eastern provinces. 

Misty conditions can be expected at some places in Western, Central, Sabaragamuwa, Uva and North-central provinces and in Kurunegala and Vavuniya districts during the early hours of the morning.

The general public is kindly requested to take adequate precautions to minimize damages caused by temporary localized strong winds and lightning during thundershowers.

Sri Lanka’s efforts to revive its small business sector are encountering serious obstacles, as delays in loan disbursement threaten to undermine a key pillar of economic recovery.

The government has positioned concessional financing as a central tool to support micro, small, and medium enterprises (MSMEs). These businesses, which contribute significantly to employment and economic activity, have struggled to regain stability following recent crises. Yet, despite the availability of funds, access remains a persistent challenge.

A large-scale financing initiative has been rolled out, consolidating multiple loan schemes into a unified framework delivered through both public and private banks. The program includes interest subsidies and credit guarantees designed to make borrowing more accessible. However, utilization rates suggest that the system is not functioning as intended.

Figures released by Deputy Minister Chathuranga Abeysinghe reveal that only a fraction of allocated funds has been disbursed. Out of nearly Rs. 96 billion earmarked for SME support, just over Rs. 17 billion had reached businesses by March 2026. This slow pace raises concerns about whether the program can deliver timely relief.

Bank-level data show significant variation in performance. Some private banks have efficiently deployed their allocations, meeting or exceeding targets. In contrast, state banks have lagged behind, with relatively low utilization rates. This uneven distribution highlights structural differences in lending practices and possibly risk appetite.

Despite these constraints, the banking sector is not facing liquidity shortages. Data from the Central Bank of Sri Lanka indicate that banks maintain strong liquidity positions and have the capacity to expand lending. The issue, therefore, appears to be less about resources and more about willingness or operational bottlenecks.

For SMEs, the implications are significant. Difficulty in securing affordable credit forces many businesses to either delay expansion, cut costs, or seek more expensive financing options. In a high-cost environment, this can erode profitability and increase vulnerability to external shocks.

The Deputy Minister has urged affected businesses to seek assistance through local administrative channels, noting that once applications are formally submitted, approvals are processed relatively quickly. Still, this does little to address the initial barriers that prevent many applicants from reaching that stage.

The broader concern is that delays in credit delivery could weaken the overall recovery trajectory. SMEs play a critical role in driving employment and economic resilience. If they remain constrained by limited access to finance, the ripple effects could extend across the economy.

Ultimately, the success of Sri Lanka’s SME support strategy will depend on aligning banking sector behavior with national policy goals ensuring that financial institutions act not only as intermediaries, but as active partners in economic recovery.

Sri Lanka’s monetary authorities are signaling a continued easing of interest rates even as private sector borrowing expands rapidly, raising questions about the sustainability of recovery in a still-fragile economy.

At the latest monetary policy briefing, Central Bank Economic Research Director Dr. Lasitha Pathberiya indicated that market lending rates are likely to trend downward in the coming months. This follows a broadly declining pattern in rates throughout late 2025, interrupted only briefly toward the year’s end. The Overnight Policy Rate remains unchanged at 7.75%, where it has stood since a modest reduction in May 2025.

The expectation of further rate cuts comes alongside strong credit expansion. Private sector credit grew by 26.3% year-on-year in January, with total outstanding loans reaching approximately Rs. 10.3 trillion. Over the course of 2025, credit expansion surged to nearly Rs. 2 trillion—more than double the increase recorded the previous year.

However, beneath these headline figures lies a more complex reality. New borrowing has slowed sharply in recent months. From a peak of Rs. 263 billion in November 2025, fresh lending dropped to Rs. 108 billion by January 2026. This marks one of the weakest monthly performances in the past year, suggesting a cooling in credit demand following external disruptions, including severe weather events.

The divergence between rising total debt and declining new credit raises concerns about whether growth is being driven by genuine economic activity or by accumulated borrowing. Analysts warn that while lower interest rates can stimulate investment, they may also encourage excessive leverage if not matched by real sector expansion.

Central Bank surveys suggest banks are willing to lend more, supported by improved liquidity and expectations of economic stability. Yet these projections were made before escalating geopolitical tensions in the Middle East, which have already triggered higher fuel costs and added uncertainty to global markets.

Governor. Nandalal Weerasinghe has downplayed immediate risks, noting stable loan performance among small and medium enterprises despite rising input costs. Inflation is expected to remain subdued at around 2% in the near term, though upward pressure from energy prices and planned electricity tariff hikes could test this outlook.

As Sri Lanka cautiously navigates recovery, the balance between easing monetary policy and maintaining financial stability will be critical. The coming months will reveal whether lower rates can genuinely support growth or simply mask deeper vulnerabilities.

A major corporate restructuring by Liberty Lands and Developments (LLD) has culminated in the full acquisition of Scope Cinemas, a move that reflects both strategic ambition and a reconfiguration of leadership at one of Sri Lanka’s leading entertainment providers.

The buyout, which involved acquiring the remaining shares of Scope Cinemas, gives LLD complete ownership and control over the cinema chain. This development is widely seen as a step toward greater integration within the group’s operations, enabling more unified decision-making and long-term planning.

At the heart of this transition is a significant leadership change. Thushan Rangana Meemanage has exited his roles as CEO and Director of Scope Cinemas, as well as his positions across affiliated entities. His departure marks the end of a leadership chapter and signals a shift in strategic direction as LLD moves to align its management structure with its evolving corporate goals.

Taking over in an interim capacity is Naveed Cader, who will continue to serve as Executive Chairman while assuming the responsibilities of CEO. This dual leadership role is expected to provide stability and continuity as the company navigates its transformation.

The acquisition is part of a broader effort by LLD to strengthen its footprint across multiple sectors, including entertainment, hospitality, and real estate. Its holdings include subsidiaries such as Scope Cinemas and Food Studio, along with investments in Alhambra Hotels and Cine Digital. By consolidating ownership of Scope Cinemas, LLD aims to unlock synergies across these businesses, particularly in delivering integrated consumer experiences.

From a market perspective, the move highlights growing confidence in Sri Lanka’s entertainment industry, even amid broader economic challenges. Cinemas have increasingly evolved beyond traditional film exhibition, offering premium experiences that cater to changing consumer preferences. Full ownership allows LLD to invest more decisively in innovation, technology, and customer engagement.

Cader, commenting on the transition, described it as part of a wider restructuring initiative aimed at positioning Scope Cinemas for sustained growth. He reiterated the company’s focus on building a future-ready organisation while maintaining high standards in cinema experiences.

However, the success of this strategy will depend on execution. Integrating operations, managing leadership transitions, and sustaining audience interest in a competitive entertainment landscape will be key challenges. Additionally, economic pressures could influence consumer spending on leisure activities, adding another layer of complexity.

Nevertheless, the acquisition represents a bold step in redefining LLD’s corporate structure and ambitions. By fully absorbing Scope Cinemas into its portfolio, the group is betting on the long-term value of experiential entertainment.

As Sri Lanka’s cinema industry continues to evolve, LLD’s latest move could set a precedent for consolidation and innovation, shaping how audiences engage with entertainment in the years ahead.

Sri Lanka’s pursuit of energy stability has led it toward a renewed partnership with Russia, but the path forward is far from straightforward. While Russian officials have pledged comprehensive support to meet the island nation’s fuel and gas requirements, the shadow of international sanctions—particularly those associated with the United States raises critical questions about feasibility.

According to the Ceylon Petroleum Corporation, agreements to import both crude and refined fuel from Russia are already in motion. Managing Director Mayura Neththikumarage confirmed that shipments for April and May have largely been secured, with additional deliveries expected in early April. Despite minor delays due to port congestion, officials remain confident that supply levels will be sufficient through the coming months.

The assurances from Russian Deputy Energy Minister Roman Marshavin go beyond short-term relief. Russia has expressed readiness to supply not only fuel, but also coal and gas, and to support broader development initiatives in Sri Lanka. These commitments were reinforced during diplomatic engagements involving Minister Bimal Rathnayake, highlighting a deepening bilateral relationship.

However, the central challenge lies in execution. While Sri Lanka is not directly prohibited from purchasing Russian energy, the global sanctions regime creates indirect barriers. International banking restrictions can complicate payments, while shipping insurers many of whom operate under Western regulations may hesitate to cover vessels carrying Russian oil. These factors can delay or even derail shipments, regardless of agreements between the two countries.

Sri Lanka has previously navigated similar challenges by exploring alternative payment mechanisms, including currency swaps and non-dollar transactions. Yet such arrangements often come with added costs and risks, potentially offsetting the benefits of discounted Russian fuel. Moreover, reliance on a single supplier could expose the country to further vulnerabilities if geopolitical conditions shift.

Another layer of complexity is Sri Lanka’s ongoing engagement with international financial institutions. Maintaining compliance with global financial norms is crucial for securing external funding and sustaining economic recovery. Any perception of circumventing sanctions could strain these relationships, placing policymakers in a delicate balancing act.

Despite these concerns, the potential advantages of Russian assistance are significant. Access to steady fuel supplies at competitive rates could ease domestic pressure, stabilize prices, and support economic activity. In the context of volatile global energy markets exacerbated by conflict in the Middle East such reliability is particularly valuable.

For now, Sri Lanka appears to be cautiously advancing its energy partnership with Russia while monitoring the broader geopolitical landscape. The success of this strategy will depend on its ability to navigate sanctions-related risks without compromising its economic recovery.

In essence, Russian support offers both opportunity and uncertainty. Whether Sri Lanka can transform these assurances into a sustainable energy solution will hinge on diplomacy, adaptability, and the evolving dynamics of global power politic

The third meeting of the Cabinet-appointed committee on ensuring the continuous functioning of the public service was held under the patronage of Prime Minister Dr. Harini Amarasuriya via a virtual platform.

Discussions focused on the progress of measures introduced to maintain uninterrupted public services while managing fuel and energy challenges arising from the ongoing Middle East conflict.

Particular attention was given to the implementation of guidelines issued by the Office of the Commissioner General of Essential Services across ministries.

Officials reported notable progress, including a 42% reduction in diesel consumption by the Ministry of Health and Mass Media as of March 31. Programmes on electricity and water management are also being implemented successfully.

It was further noted that energy awareness programmes in schools are scheduled for April 7 and 9, while universities continue to operate online where possible.

The Ministry of Public Administration confirmed that key examinations, including the Grama Niladhari entrance exam, were conducted as planned. Meanwhile, several ministries, including Transport, Digital Economy, and Justice, are maintaining services through essential staff deployment and digital systems.

The committee also reviewed ongoing efforts to monitor fuel and energy usage across public institutions.

Sri Lanka could expand trade with Russia through Vladivostok by leveraging existing aviation and maritime routes, Minister of Transport, Highways, Ports and Civil Aviation Bimal Rathnayake said.

Speaking to Sputnik India, the minister noted that Sri Lanka’s strategic location along key Indian Ocean shipping lanes and its established air connectivity position the country to develop faster trade links with Russia.

He said aviation offers the quickest short-term option, with cargo operations potentially commencing within months using existing commercial flight networks.

Rathnayake also highlighted Sri Lanka’s maritime connectivity with countries such as China, Japan, and South Korea, pointing out that Vladivostok is geographically aligned with these routes, making sea-based trade feasible.

He further emphasized the growing role of Hambantota Port as a regional logistics hub, particularly its development as a major automobile export center linking South Asia to Africa.

According to the minister, Sri Lanka could utilize its existing infrastructure and connectivity to strengthen trade ties with Russia under a broader Eurasian transport framework.

A high-level discussion on water management was held this afternoon (02) at the Presidential Secretariat under the patronage of President Anura Kumara Dissanayake, in view of changing weather patterns, the possible onset of El Niño conditions, and the upcoming Yala cultivation season.

According to the President’s Media Division, the meeting reviewed rainfall forecasts for the year and current reservoir water levels, supported by detailed statistical data.

Discussions focused on ensuring the uninterrupted supply of hydropower, meeting drinking water needs, and releasing sufficient water for agricultural activities during the Yala season.

Officials also reviewed necessary measures to effectively manage available water resources under the prevailing climatic conditions.

The meeting was attended by Minister K.D. Lalkantha and senior officials from key institutions, including the Mahaweli Authority, Irrigation Department, and National Water Supply and Drainage Board.

U.S. President Donald Trump has removed Attorney General Pam Bondi from her position, citing growing dissatisfaction with her performance.

According to reports, Trump was particularly frustrated over the handling of files related to late sex offender Jeffrey Epstein, as well as what he viewed as delays in prosecuting certain critics and political adversaries.

Deputy Attorney General Todd Blanche, a former personal lawyer to Trump, has been appointed to temporarily lead the Justice Department, the President announced in a social media post.

Despite the dismissal, Trump described Bondi as a “Great American Patriot and a loyal friend,” noting that she would soon transition to a role in the private sector.

In a statement, Bondi said leading the administration’s law enforcement efforts had been “the honor of a lifetime,” adding that she would assist with the transition over the coming month.

Bondi’s tenure was marked by strong alignment with Trump’s agenda, but also drew criticism, particularly over the handling of Epstein-related investigations and concerns about the independence of the Justice Department.

Reports indicate Trump had been considering her replacement for some time, with discussions around potential successors already underway.