April 01, Colombo (LNW): The Ministry of Education has announced that the second phase of the first school term for the 2025 academic year will commence today (01) for all government schools and government-approved private institutions. This follows the conclusion of the first phase of the term on March 14.
However, as part of religious observances, the Ministry has granted a special holiday for Muslim schools today in recognition of the Ramadan festival, ensuring that students and staff can participate in the celebrations.
Meanwhile, health authorities have urged parents and school administrations to remain vigilant about the increasing spread of chickenpox among children.
Medical professionals have advised parents to monitor for early symptoms such as fever, rash, and fatigue, and to keep affected students at home to prevent further transmission within school environments.
April 01, Colombo (LNW): Lanka IOC has announced a revision of fuel prices, effective from midnight on 31 March, in line with the recent adjustments made by the Ceylon Petroleum Corporation (CEYPETCO).
As per the latest update, the price of 92 Octane petrol has been reduced by Rs. 10 per litre, bringing the new retail price down to Rs. 299 per litre.
Similarly, 95 Octane petrol has seen a Rs. 10 per litre reduction, with its revised price now set at Rs. 361 per litre.
Despite these reductions in petrol prices, all other fuel categories will remain unchanged, as no adjustments have been announced for diesel, super diesel, or kerosene.
April 01, Colombo (LNW): The Ceylon Petroleum Corporation (CEYPETCO) has confirmed that petrol prices have been reduced from midnight March 31, offering slight relief to consumers amid ongoing economic pressures.
According to the latest revision, the price of Petrol Octane 92 and Petrol Octane 95 will be reduced by Rs. 10 per litre, while prices of all other fuel types will remain unchanged.
The revised fuel prices are as follows:
Petrol Octane 92 – Rs. 299 per litre (Rs. 10 reduction)
Petrol Octane 95 – Rs. 361 per litre (Rs. 10 reduction)
April 01, Colombo (LNW): The atmospheric conditions are getting favourable for afternoon thundershowers in the most parts of the island for next few days from today (01), the Department of Meteorology said in its daily weather forecast today.
Showers or thundershowers will occur at several places in the most parts of the island during the afternoon or night.
Heavy rainfall of about 100 mm are likely at some places in Central, Sabaragamuwa, Western, Southern and Uva provinces and in Kurunegala and Polonnaruwa districts.
Misty conditions can be expected at some places in Western, Sabaragamuwa, Central, North-central and Uva provinces and in Galle, Matara and Kurunegala districts during 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.
Marine Weather:
Condition of Rain:
Showers or thundershowers will occur at several places in the sea areas off the coast extending from Puttalam to Trincomalee via Colombo, Galle, Hambantota and Batticaloa during the evening or night.
Winds:
Winds will be South-easterly or variable in direction and wind speed will be (20-30) kmph.
State of Sea:
Sea areas around the island will be slight.
Temporarily strong gusty winds and very rough seas can be expected during thundershowers.
March 31, Colombo (LNW):The introduction of Alipay+ into Sri Lanka’s digital payment ecosystem presents both opportunities and challenges. On the one hand, it offers a seamless payment experience for international tourists and business travelers, boosting the local economy.
On the other, concerns such as data security, foreign dominance in the digital payment sector, and potential impacts on local financial institutions must be considered. This analysis explores the implications of Alipay’s entry and assesses whether it will serve Sri Lanka’s long-term economic interests.
In a significant development for Sri Lanka’s tourism and digital economy, LankaPay, the country’s National Payment Network, has collaborated with Ant International to enable Alipay+ transactions nationwide. This initiative allows over 400,000 LANKAQR merchants to accept mobile payments from tourists and business travelers via 14 international e-wallets integrated with Alipay+ in the initial phase.
Alipay+, a cross-border mobile payment solution by Ant International, connects over 1.7 billion users worldwide through 36 international e-wallets and banking applications. Under this system, visitors from 10 countries and regions can scan LANKAQR codes at Sri Lankan businesses and complete transactions as they would in their home countries.
Edward Yue, General Manager for Southeast Asia, Australia, and New Zealand at Ant International, emphasized the benefits of the partnership. He noted that the national LANKAQR infrastructure, developed by the Sri Lanka Central Bank and LankaPay, provides a strong foundation for digitalizing local businesses while enhancing interoperability and global connectivity.
The Alipay+ integration includes notable partners such as Alipay (China), AlipayHK (Hong Kong), MPay (Macao), Hipay (Mongolia), GCash (Philippines), Changi Pay and OCBC Digital (Singapore), Touch ‘n Go eWallet and MyPB by Public Bank Berhad (Malaysia), Naver Pay and Toss Pay (South Korea), TrueMoney (Thailand), BigPay (Malaysia, Singapore, Thailand), and Tinaba (Italy).
This initiative aligns with Sri Lanka’s broader economic objectives. According to the Sri Lanka Tourism Development Authority (SLTDA), the country experienced a 38% rise in tourist arrivals in 2024 compared to the previous year. For 2025, Sri Lanka targets attracting 3 million visitors and generating $5 billion in tourism revenue. The integration of Alipay+ is expected to facilitate this growth by enhancing the digital payment experience.
Channa de Silva, CEO of LankaPay, described the partnership as a milestone in Sri Lanka’s financial sector, stating that it would improve payment convenience for tourists and business travelers while increasing foreign exchange inflows. The LANKAQR system, introduced in 2020 by the Central Bank of Sri Lanka and managed by LankaPay, ensures standardized and interoperable QR code-based transactions, integrating consumers, banks, and merchants into a unified payment network.
Beyond digital transactions, Alipay+ offers additional benefits to merchants by connecting them with tourists through mobile app-based digital services. This could provide businesses with new opportunities to engage international customers and enhance their market reach.
However, Alipay’s expansion into Sri Lanka also raises certain concerns. While the platform streamlines cross-border payments, it increases reliance on a foreign financial network, potentially limiting growth opportunities for local payment providers. Additionally, data security and privacy issues may arise as international companies handle large volumes of user data.
Looking ahead, Ant International and LankaPay plan to further expand Alipay+ e-wallet acceptance and launch joint marketing efforts to encourage digital transactions across Sri Lanka. If properly managed, this collaboration could bolster tourism and the broader digital economy. However, Sri Lanka must carefully navigate regulatory and security challenges to ensure that the benefits of Alipay+ integration outweigh any potential risks
March 31, Colombo (LNW): James Johnstone, Co-Head and Portfolio Manager of the Redwheel Emerging and Frontier Markets Team, has highlighted Sri Lanka’s strategic potential in global manufacturing through foreign joint ventures.
Speaking at the ‘Invest Sri Lanka’ Investor Forum, organized by the Colombo Stock Exchange (CSE) and the Securities and Exchange Commission (SEC), he addressed over 100 foreign investors and fund managers, underscoring the nation’s economic prospects.
Redwheel, a global investment management firm established in 2000, specializes in investment strategies across developed and emerging markets, including equities, convertible bonds, and income solutions. Johnstone emphasized that Sri Lanka has strong prospects in services and commodities, aligning with Redwheel’s Frontier Markets Equity Strategy’s three key growth pathways. He also identified several Sri Lankan companies as attractive investment opportunities under this framework.
Johnstone commended Sri Lanka’s recent macroeconomic stabilization efforts and noted that tourism and remittances are poised to drive growth. However, he pointed out that Sri Lanka’s market capitalization, at just 15% of GDP, lags behind regional peers like Vietnam (59%) and Indonesia (40%). A stable currency, he stressed, is crucial for further financial growth.
As of March 31, 2025, Sri Lanka’s capital market is rebounding strongly, mirroring broader economic recovery trends. The All Share Price Index (ASPI) and the S&P SL20 index registered remarkable returns of 49.7% and 58.5%, respectively, in 2024, reflecting renewed investor confidence. Additionally, the market recorded a net foreign inflow of USD 66.5 million and a record capital raise of USD 568.61 million in the same period.
Government-led economic reforms have been instrumental in this turnaround. The National Export Development Plan (2025-2029) aims to accelerate export-driven growth, while expanding Free Trade Agreements (FTAs) with ASEAN countries promises to enhance trade opportunities. Furthermore, the introduction of a National Tariff Policy is expected to create a more predictable trade environment, benefiting both domestic and international investors.
The March 2025 ‘Invest Sri Lanka’ forum in Colombo attracted over 100 international delegates and around 400 local participants, highlighting the country’s progress since the 2022 economic crisis. Key regulatory officials reaffirmed Sri Lanka’s financial stability and predictability, reinforcing the nation’s readiness to attract global capital.
Sri Lanka’s external sector has also shown notable improvement, with February 2025 reporting a higher current account surplus than the previous month. Overall, the country’s capital market is on a strong growth trajectory, fueled by economic reforms, increased investor confidence, and strategic initiatives for long-term sustainability.
March 31, Colombo (LNW):The Sweden-Sri Lanka Business Council (SSLBC) has reported significant growth in Swedish business engagement with Sri Lanka, along with strong optimism for 2025. According to the council’s 2025 Membership Survey, the past five years have seen steady expansion, with particularly notable growth in 2024.
The survey results reflect a growing interest among Swedish companies in Sri Lanka, evident in the increase of SSLBC members from 75 to 100 in just two years. SSLBC Secretary General Leif I Ohlson highlighted the positive trends, stating,
“The results are encouraging. Our members have strengthened their business relations with Sri Lanka, and we are witnessing a rising interest from the Swedish business community.” However, he also pointed out ongoing concerns regarding visa processes for business visits, conferences, and trade fairs, urging relevant authorities to take action.
Conducted in February 2025, the survey gathered responses from half of the SSLBC’s members, spanning industries such as IT, manufacturing, trade, food, and tourism. Notably, 75% of respondents have been operating in or with Sri Lanka for at least three years.
Key findings from the survey indicate that nearly 60% of members reported business growth in Sri Lanka over the past five years, with a similar proportion experiencing expansion in 2024 alone. Confidence in Sri Lanka’s business environment has surged, with 70% expecting positive developments in 2025— a stark contrast to the 25% in 2023 when the country was still recovering from the 2022 fiscal crisis.
Moreover, optimism remains high regarding individual business prospects. Over 60% of members anticipate further growth in their Sri Lanka-related ventures this year.
The survey also identified the top business priorities for 2025. The most pressing concern is the availability of skilled labor, cited by 74% of respondents. Other key issues include clear and predictable import/export regulations (47%), financing (44%), improved flight connections (37%), stable payment flows (35%), Sri Lanka’s image in Swedish media (34%), and transportation infrastructure (29%).
Sri Lanka’s highly educated workforce, particularly in the IT sector, continues to attract Swedish companies. Competitive salary structures further enhance the country’s appeal. However, the survey reveals that only a small number of companies have received support from Swedish or Sri Lankan trade promotion agencies. While recent improvements have been observed, more efforts are needed to facilitate business development.
Ohlson emphasized the importance of on-ground presence and peer-to-peer experience sharing, recognizing SSLBC’s role in fostering these connections. Established in 2006, the council currently has 100 members across IT, manufacturing, consumer goods, food, and tourism sectors. Collectively, these businesses generate over 2,000 jobs in Sri Lanka.
SSLBC remains committed to enhancing member value through knowledge sharing, networking, and advocacy. By strengthening ties between trade organizations, business intermediaries, and companies in both nations, the council continues to play a pivotal role in stimulating Sweden-Sri Lanka business relations.
March 31, Colombo (LNW): Sri Lanka finds itself on the precipice of both opportunity and risk as it is now out of the Intensive Care Unit after four years in economic crisis ailment, and it has to follow a path towards inclusive and transformative growth that ensures debt sustainability, avoiding future crises for the benefit of all Sri Lankans.
To address this critical need of getting discharged from the post ICU unit fully recovering from the economic ailment, the country should achieve economic development attracting foreign investments and modern technology from overseas, former Prime Minister Ranil Wickremasinghe asserted.
Mr Wickremesinghe has suggested a wider economic strategy for Sri Lanka, underlining the need for capital and technology to drive growth.
He noted that countries like China and Vietnam have successfully raised capital investment and technology from abroad and called on Sri Lanka to follow suite in order to increase per capita income as well as achieve sustainable development.
If Sri Lanka’s economy is to move beyond its current fragile state, he said that integration and cooperation with the Indian economy must be a priority
The former Premier was speaking in Rajagiriya this week at the launching ceremony of the latest book on five laws for economic sustainability and causes of economic crisis in 2022 titled “ “Arthikaye Panchayudhaya “written by former Minister Bandula Gunawardena who has already written and published more than 55 books on the subject of economics.
‘Panchayudha’ is the five divine weapons including Discus, Conch, Mace Sword and Bow used by God Vishnu There is also a famous Panchayudha Stotram which is chanted for all kinds of protection. It is highly beneficial to people suffering from phobias.
Mr Wickremasinghe noted that likewise five laws for economic stability, the Central Bank Law, Public Debt Management Law, the Public Finance Act, Economic Transformation Law and the New Anti Corruption Act are the arms now in place toward building resilience and ensuring a stronger economic trajectory.
It will pave the way towards economic sustainability through disciplined fiscal management and debt restructuring.
Focusing on five key areas—economic stability, energy security, education reform, agricultural productivity, and poverty reduction—will be critical for Sri Lanka to navigate 2025 successfully
Attracting foreign direct investment (FDI) in sectors like manufacturing, tourism, logistics, power and technology is vital for recovery and long-term growth.
Addressing the energy crisis is critical, Mr Wickremasinghe said adding that renewable energy sources—solar, wind, and hydropower—will reduce dependence on costly fuel imports while bring into line with global sustainability trends.
In this context “Sri Lanka cannot go forward by antagonizing India has helped the island nation as and when it’s in difficulty as its recent gesture of providing US$ 4 billion to overcome economic crisis has saved the country from possible economic disaster.
He warned that Sri Lanka could not move ahead with out large-scale foreign investments, and the holding up of the $ 700 million Adani project alone was a massive setback to the recovery of the country’s economy.
Adani’s alone is $ 700 million. Not a joke. We require that for recovery,” He explained, adding that other projects of development in Trincomalee could draw in another $400–500 million. “Imagine—a billion plus investments worth of total stalled,” he stated.
He warned that renegotiating agreements or tariffs with energy companies, including the Adani Group, can deter future investment, particularly in the emerging field of energy, where bids for billions of dollars’ worth of proposals are in the pipeline.
He also highlighted Sri Lanka’s continuing risk factors in the economy, which can force investors to charge higher for power projects.
Particularly referring to the Adani wind farm agreement inked during his tenure, Wickremesinghe stated that an agreement signed must be honored.
He added that attempts at renegotiation can harm the credibility of the country. “We established a benchmark for the value, with a rate of 8.26 US cents a unit. Changing this now will send a negative signal to investors.
March 31, Colombo (LNW): Sri Lanka Police have received multiple complaints concerning violence and breaches of election laws in connection with the 2025 Local Government Elections, with incidents reported from various parts of the country.
Among the complaints, a notable case was an attempted assault accompanied by verbal threats in Agalawatta, located within the Kalutara Police Division.
This incident, which took place yesterday (30 March), is currently under investigation by local law enforcement authorities.
Additionally, police stations across the island have recorded at least five separate cases of election law violations.
These reports have emerged from the Thalathuoya, Thanamalwila, Aluthgama, Matale, and Galewela police divisions.
Authorities have assured that investigations are underway to address these incidents and to ensure that the electoral process remains fair, secure, and free from unlawful interference.
Law enforcement officials have urged the public to report any further violations as efforts continue to uphold democratic integrity during the election period.
March 31, Colombo (LNW): Sri Lanka Cricket (SLC) has finalised its leadership team for the 2025–2027 term, with Shammi Silva securing an uncontested victory as President for the fourth consecutive time.
This marks the third occasion where Silva has been re-elected without opposition, solidifying his influence over the nation’s cricket administration.
The elections, conducted under the supervision of the Election Committee led by Retired Court of Appeal Justice Malani Gunaratne, took place today (31) in Colombo, coinciding with the 64th Annual General Meeting of Sri Lanka Cricket.
Several other key positions were also filled without contest, reaffirming the stability of the existing administration. The newly appointed office-bearers for the 2025–2027 term are as follows:
