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Sri Lankan Delegation Heads to Washington for Trade Talks with U.S. Officials

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A Sri Lankan delegation is set to participate in crucial discussions in Washington, D.C., focused on tariff-related matters, following an invitation from the Office of the United States Trade Representative (USTR). This marks the second in-person meeting as part of ongoing efforts to strengthen bilateral trade relations between the two nations.

The initiative follows a series of virtual engagements between Sri Lankan officials and the USTR, highlighting a shared commitment to deepening economic cooperation. The upcoming talks are expected to explore new avenues for enhancing trade ties and securing favorable outcomes for Sri Lanka, especially amid current economic challenges.

In preparation for the visit, President Anura Kumara Dissanayake chaired a high-level meeting on May 22 to align the delegation’s approach with Sri Lanka’s broader economic strategy. The focus was on ensuring that national interests are effectively represented during the discussions.

Participants in the preparatory meeting included Deputy Minister of Finance and Planning Dr. Harshana Suriyapperuma; Secretary to the Ministry of Trade, Commerce, Food Security and Cooperative Development, K.A. Vimalenthirarajah; Senior Economic Advisor to the President Duminda Hulangamuwa; Central Bank Governor Dr. Nandalal Weerasinghe; Finance Ministry Secretary K.M.M. Siriwardana; Attorney General’s Department representative Nirmal Vigneshwaran; and Dharshana Perera from the Ministry of Foreign Affairs.

Details of the Washington discussions will be released following the conclusion of the meetings.

23 Injured as Private Bus Overturns on Nuwara Eliya–Kandy Road

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A private bus carrying 54 passengers overturned in the Top Pass area on the Nuwara Eliya–Kandy main road on the night of May 23, police reported.

The bus, returning from a leisure trip to Badulla, was en route to Kandy when it veered off the road and overturned. The passengers had originally departed from Kurunegala.

Twenty-three people, including the driver, conductor, and 20 women, sustained injuries in the accident and were admitted to Nuwara Eliya Hospital for treatment. The injured are residents of the Kurunegala and Kiribbanwewa areas.

Nuwara Eliya Police have launched an investigation to determine the cause of the accident.

Showers and Thundershowers Expected Across Several Provinces Today – Met Department Issues Weather Alert

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The Department of Meteorology has forecasted showers at intervals today (May 24) in the Western, Sabaragamuwa, North-western, and Central provinces, as well as in the Galle and Matara districts.

Additionally, showers or thundershowers are expected during the evening or night in several areas within the Uva province and the Ampara and Batticaloa districts.

Fairly heavy rainfall exceeding 75 mm is likely in parts of the Western, Sabaragamuwa, and North-western provinces, along with the Galle, Matara, Nuwara-Eliya, and Kandy districts.

The Met Department also cautioned of fairly strong winds ranging between 30-40 kmph over the western slopes of the central hills, and in the Northern, North-central, North-western, Southern provinces and the Trincomalee district.

The public is advised to take necessary precautions to minimize potential damage from temporary localized strong winds and lightning during thundershowers.

Legendary Actress Malini Fonseka Passes Away at 78

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Malini Fonseka, affectionately known as the “Queen of Sri Lankan Cinema,” passed away this morning in Colombo at the age of 78.

With a career spanning more than five decades and over 150 films, Fonseka was a towering figure in Sri Lankan cinema. Renowned for her powerful performances and timeless grace, she earned numerous national and international accolades and was instrumental in shaping the country’s film industry.

Her passing marks the end of an era for Sri Lankan arts and culture. Tributes have begun to pour in from across the nation, with fans and colleagues mourning the loss of a true cinematic icon whose legacy will endure for generations.

Professor Arusha Cooray, Ambassador-Designate of Sri Lanka to the United Arab Emirates Assumes duties

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Professor Arusha Cooray, the newly appointed Ambassador-designate of Sri Lanka to the United Arab Emirates (UAE), assumed duties at the Embassy of Sri Lanka in Abu Dhabi on 21 May 2025.

In her remarks to the Embassy staff, Ambassador-designate Cooray highlighted the deep-rooted and expanding relations between Sri Lanka and the UAE, underpinned by strong economic, cultural, and people-to-people ties. She emphasized the importance of further advancing cooperation in trade, investment, labour relations, education, renewable energy, and innovation, while continuing to build on the enduring friendship between the two nations.

Ambassador-designate Cooray also underlined her commitment to ensuring a high standard of consular services and community engagement, particularly for the large Sri Lankan expatriate community residing across the Emirates. She reaffirmed the Embassy’s role in promoting Sri Lanka’s interests and fostering greater bilateral collaboration with the UAE.

Professor Cooray is a distinguished economist and senior academic, with a career spanning over two decades in teaching, research, and international development. Prior to her appointment, she served as a Professor of Finance and Head of Discipline at the James Cook University, and held senior advisory roles with international institutions.

She holds a PhD in Economics from the University of New South Wales and has published widely in the fields of development economics, financial markets, governance, and macroeconomic policy.

Embassy of Sri Lanka to the United Arab Emirates

Abu Dhabi

21 May 2025

William: Attenborough was ‘inspiration’ for new show

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The Prince of Wales has described Sir David Attenborough as a “big inspiration” to him growing up, and the motivation behind his new wildlife documentary highlighting the work of rangers.

In an unexpected appearance at a screening earlier this week, Prince William credited the veteran nature presenter with “being able to present wonderful parts of the world to many of us most of us will never get a chance to visit”.

He said he hoped his new six-part series, called Guardians, “does the same kind of thing”.

The prince and Sir David share a passion for conserving the natural world, and have supported each other’s projects in the field.

The heir to the throne has attended screenings of the broadcaster’s documentaries privately, while Sir David has been a champion of Prince William’s environmentally focused Earthshot Prize since its inception.

Now taking a lead from the 99-year-old host of Ocean and Planet Earth, the prince said his new series “reminds people that there are still wonderful parts of the world and there is still hope, and there’s still amazing work being done”.

He surprised those attending the screening of the series when he walked into a central London hotel and sat with journalists to watch the first three episodes.

Guardians will focus on how the work of rangers – who protect endangered animals – has become significantly more risky. Around 1,400 rangers have died in the past decade.

“This is now one of the most dangerous jobs on the planet,” the prince told reporters.

“It shouldn’t be. Protecting the natural world shouldn’t be that dangerous.

“Being a soldier, a police officer, the emergency services – these jobs are dangerous, people put their lives on the line.

“I don’t think people realise it’s the same for these guys and girls around the world.”

He attributed the increased threat to “community conflicts or civil wars, or illegal fishing, or poaching – whatever it might be is just spreading further and further across the globe”.

A friend said the prince turned up to emphasise the importance of the series to him on a personal level.

“The project was driven by him,” the friend told the BBC. “He wanted to show the incredible work rangers do for people around the world.”

Each episode will feature an on-screen introduction by Prince William, who also appears in a trailer for the project.

The prince also spoke about the challenge of recruiting the next generation of rangers.

He said: “They ask, why would I do that? Why would I go and risk my life to do that? No one seems to notice and no one seems to care. I’m not necessarily paid enough, I’m not valued enough by society.”

Prince William stressed that rangers “do so much more than just protecting wildlife”.

“It’s about the community initiatives they do, it’s the education, it’s the teaching, the scientific research,” he said.

“And if we are to reach our goals, and we do generally as a world care about the natural environment, then we need more of these guys and girls.”

Rangers are tasked with overseeing natural areas and the wildlife within them, but increasingly have to fend off poachers, who seek to traffic or kill animals – such as elephants, tigers and rhinos – that have body parts prized by some.

Poachers can be armed and encounters with rangers can prove fatal. In the year to May 2024, 38 out of 140 deaths were homicides, according to the International Ranger Federation (IRF).

In November, the prince announced a new life insurance scheme to cover 10,000 rangers who safeguard Africa’s wildlife.

The screening was also attended by Rohit Singh, vice-president of the IRF, who described rangers as “essential planetary health workers” and echoed the Prince’s concerns.

He said: “One statistic that always comes to my mind is that 82% of rangers say they don’t want their kids to become rangers – so if we don’t change this, how are we going to get more rangers?

“There are more hairdressers in the UK than there are rangers in the world’s protected areas.”

IMF Ties Approval of Sri Lanka’s Fourth EFF Review to Key Reforms and Financing Assurances

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The International Monetary Fund (IMF) has announced that the approval of Sri Lanka’s fourth review under the Extended Fund Facility (EFF) is dependent on the government meeting key prior conditions, including the restoration of electricity cost recovery pricing.

Speaking at the IMF’s weekly press briefing, Spokesperson Julie Kozack explained that while a staff-level agreement was reached on April 25 between the IMF and Sri Lankan authorities, the final approval is subject to the IMF Executive Board’s decision, expected in the coming weeks.

However, Kozack emphasized that the exact timing of the board meeting hinges on two critical factors.
“The first is the implementation of prior actions, particularly restoring electricity cost recovery pricing and ensuring the proper functioning of the automatic electricity price adjustment mechanism,” she stated.

The second requirement is the completion of the financing assurances review. This review will evaluate whether Sri Lanka’s multilateral partners have confirmed their financing commitments and whether adequate progress has been made in the country’s debt restructuring efforts.

“In a nutshell,” Kozack said, “completion of the review is subject to board approval, which is contingent on these two matters.”

If approved, the review will unlock access to approximately USD 344 million in financing for Sri Lanka, providing a crucial boost as the country continues its economic recovery and reforms under the IMF-supported programme.

Sri Lanka Steps Boldly into AI with Futurity’s Global Vision

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Sri Lanka has entered the global artificial intelligence (AI) arena with a dynamic private sector push, marking a new chapter in the island’s tech evolution. Amid a rapidly growing innovation ecosystem, homegrown ventures are stepping forward with world-class ambition—none more so than Futurity, a trailblazing AI-native studio based in Colombo that’s redefining how work gets done in the digital age.

The launch of Futurity signals a powerful shift in Sri Lanka’s technological aspirations—from outsourcing to original innovation. With a vision to deliver globally scalable AI solutions, this startup exemplifies how local expertise and creativity can place Sri Lanka firmly on the global AI map.

Futurity is the country’s first AI-native research and development studio, dedicated exclusively to crafting intelligent workplace solutions that seamlessly integrate into enterprise operations. Built by a multidisciplinary team of engineers, designers, and strategists, Futurity was founded on the belief that technology should be invisible, intelligence should be effortless, and work should simply flow.

“We’re not building AI to replace people,” explains Venuka Wijethunga, Co-Founder and Head of Product Strategy. “We’re building tools that support people—quietly and intuitively. Our goal is to remove everyday workplace friction, from repetitive searches to rewriting the same content or answering the same queries repeatedly.”

Futurity’s AI systems are crafted to blend into workflows, not disrupt them. The studio’s guiding principle—Effortless Intelligence—reflects this ethos. Rather than adding layers of complexity, Futurity designs adaptive solutions that anticipate user needs, understand context, and enhance human performance.

The studio’s offerings span document intelligence, conversational AI interfaces, and AI-generated media, all tailored to eliminate repetitive work and enhance decision-making. Their flagship product, Omni, is an intelligent document orchestration tool built for modern teams. It promises to streamline access to critical information while quietly organizing knowledge behind the scenes.

Futurity is also positioning itself to compete globally. “We’re entering a $638 billion industry projected to surpass $3.6 trillion by 2034,” notes Supun Kaluarachchi, Co-Founder and Head of Business Intelligence. “There’s a clear demand for purpose-built, contextual AI tools. Our focus is on practical innovation—solutions that actually make work easier and more effective.”

While rooted in Sri Lanka’s vibrant tech community, Futurity’s ambitions are international. All products are validated locally but engineered for global scalability, allowing Sri Lankan-born innovations to address challenges in workplaces worldwide.

For Sri Lanka, Futurity is more than just a startup—it’s a signal that the country is ready to compete in the global AI race, driven by private ingenuity and a bold vision for the future of work.

Tea Industry Sees Growth as Emirates Celebrates International Tea Day with Dilmah

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Sri Lanka’s tea industry showed strong signs of recovery in April 2025, with production reaching 26.39 million kilograms—a 23% increase from 21.46 million kgs in April 2024, according to official data. This boost of 4.93 million kgs reflects renewed momentum across all elevations—High, Mid, and Low Grown—signalling a broad-based sector recovery.

Compared to April 2023’s 25.24 million kgs, the 2025 April output also marks a modest increase of 1.15 million kgs. Cumulatively, tea production for the first four months of 2025 stood at 88.38 million kgs. This is a notable rise of 8.65 million kgs from the 79.73 million recorded during the same period last year and up 3.63 million kgs compared to the January–April 2023 total of 84.75 million.

While High and Mid Grown teas maintained their upward momentum, the Low Grown segment and Green Tea category showed slight declines compared to 2023.

Coinciding with this positive industry performance, Emirates and Sri Lanka’s Dilmah Tea are celebrating International Tea Day on 21 May with a global tribute to tea culture and sustainability. Marking a successful 33-year partnership and over 33 million cups of tea served annually, Emirates will present a complimentary box of luxury Dilmah teas to all customers on flights over 2.5 hours.

The gift box includes a trio of Dilmah’s most celebrated blends: the Emirates Signature Tea—Dombagastalawa FBOP1 scented with rose, almond, and ginger; Moroccan Mint Green Tea, known for its calming properties; and Ceylon Tea with strawberry, embodying joy and refreshment.

In Emirates Lounges around the world, First and Business Class customers will enjoy Dilmah tea cocktails and mocktails paired with artisanal desserts. In Dubai, exclusive offerings include a Dilmah Elixir cocktail alongside coconut vanilla cake, lemon cake, and apple tart.

From 15 to 31 May, passengers flying from Dubai to the UK will also receive tea pairing tips from trained Emirates cabin crew as part of a refined Afternoon Tea service in premium classes.

Emirates’ commitment to tea goes far beyond inflight service. The airline’s cabin crew undergo specialised tea training, learning to brew the perfect cup, understand the sustainable origins of Dilmah tea, and pair teas with food. Green teas are recommended with seafood and sushi, black teas with red meat and desserts, and floral teas with citrus-based dishes like Emirates’ vegan zucchini tart.

International Tea Day, recognized by the UN as part of the 2030 Agenda for Sustainable Development, underscores tea’s global importance for rural development and sustainability. Emirates’ long-standing partnership with Dilmah brings socio-economic benefits to Sri Lanka’s tea industry and plantation communities, while elevating global appreciation for ethical tea sourcing.

As the island’s tea output rises and its global partnerships flourish, Sri Lanka’s tea sector is brewing up a bright future—one cup at a time.

Banking Boost: Sri Lanka Sees Rising Loan Demand and Falling Defaults in 2025

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Sri Lanka’s banking sector has shown a notable rebound in early 2025, with loan disbursements steadily increasing across key economic segments.

This growth reflects renewed confidence among borrowers and financial institutions amid improving macroeconomic conditions. While lending appetite strengthens, non-performing loans (NPLs) have also demonstrated a downward trend—except in the retail sector—thanks to better business performance, enhanced recoveries, and lower interest rates.

According to the Central Bank of Sri Lanka’s latest survey, lending activity remained strong in the first quarter of 2025 and is expected to continue through the second quarter.

 The demand for loans among Small and Medium Enterprises (SMEs) surged, with the SME Loan Demand Index rising sharply from 65.0 in the fourth quarter of 2024 to 82.2 in the first quarter of 2025. This signals renewed economic momentum within the SME sector.

Corporate loan demand, which stood at a relatively subdued index value of 57.9 in late 2024, is projected to climb significantly to 81.2 in the second quarter of 2025.

The Central Bank attributes this uptick in loan appetite to improving economic activity, declining interest rates, stable inflation, greater political stability, and growing business confidence.

The report further notes that loan demand is likely to continue increasing in the second quarter, supported by anticipated GDP growth and potential easing of vehicle import restrictions, which could further stimulate credit growth.

Sri Lanka’s monetary policy framework has broadly followed a deflationary approach since late 2022, mirroring successful East Asian models.

 However, an episode of monetary expansion during the fourth quarter of 2024, aimed at narrowly meeting credit targets, resulted in reserve losses and a reemergence of a current account deficit. Historically, Sri Lanka’s policy mix—including inflation-targeted rate cuts—has led to currency instability, requiring subsequent rate hikes and credit tightening to restore confidence.

In early 2025, the central bank’s policy rate has been kept slightly above market rates while accumulating foreign reserves. Yet analysts caution that excess unsterilized liquidity—resulting from foreign currency purchases—could pressure the rupee if it fuels unchecked credit growth.

On a positive note, the non-performing loan ratio has improved across most sectors, driven by stronger cash flows, more favorable economic conditions, flexible repayment structures, and sustained recovery efforts. The only exception is the retail sector, where NPLs have increased, likely due to the persistent high cost of living affecting household repayment capacity.

Overall, the findings underscore a cautiously optimistic outlook for Sri Lanka’s banking sector, with strong loan growth and improving credit quality pointing to a recovering economy in 2025.