June 28, Colombo (LNW): Sri Lanka has recorded 31 dengue-related deaths so far this year, as health authorities continue to grapple with a sharp rise in infections across the country.
According to the National Dengue Control Unit (NDCU), more than 52,000 dengue cases have been reported islandwide to date, highlighting a worrying upward trend. June alone accounted for over 17,000 infections, making it one of the most severe months of the year for dengue transmission.
The Western, Southern, Sabaragamuwa, Central and Eastern provinces have reported the highest number of cases, while 124 Medical Officer of Health (MOH) divisions have been classified as high-risk areas requiring intensified surveillance and control measures.
Health officials have urged the public to remain vigilant by eliminating stagnant water around homes and workplaces, noting that community participation remains one of the most effective ways to curb the spread of the disease.
Meanwhile, the Health Entomology Officers’ Association has cautioned against viewing mosquito fogging as a long-term solution to the dengue outbreak.
Addressing a media briefing in Colombo on Saturday, Association President Najith Sumanasena explained that although fogging is sometimes carried out by MOH offices in response to localised spikes in dengue cases, it is designed only to reduce the adult mosquito population and should not be relied upon as the primary method of vector control.
He noted that mosquitoes progress through four stages of development—egg, larva, pupa and adult—and that fogging affects only the final stage, leaving breeding sites untouched. As a result, mosquito populations can quickly recover if standing water is not removed.
Sumanasena also pointed to the financial and environmental costs associated with the practice. A single fogging operation can cost more than Rs. 20,000, while the insecticides used may also kill beneficial insects, including bees and dragonflies, which are essential for pollination and maintaining ecological balance.
He stressed that fogging is carried out only when scientific assessments indicate it is necessary and warned that unnecessary or repeated spraying could reduce its effectiveness over time by encouraging insecticide resistance.
Drawing on past experience, he noted that Sri Lanka had previously been compelled to replace several insecticides used in malaria control—including DDT, Malathion, Solfac and Icon—after mosquitoes developed resistance to them.
In addition to concerns over resistance, Sumanasena said excessive exposure to insecticides could pose health risks for some individuals, particularly those with underlying medical conditions. He emphasised that sustainable dengue prevention depends on eliminating mosquito breeding grounds, improving public awareness and adopting integrated vector control measures rather than relying solely on fogging.
Dengue Death Toll Climbs as Experts Warn Against Over-Reliance on Fogging
Over 1,400 Dead After Twin Earthquakes Devastate Venezuela
June 28, LNW(Colombo):The death toll from the devastating twin earthquakes that struck Venezuela has risen to more than 1,400, while 3,238 people have been injured, authorities said on Saturday.
National Assembly President Jorge Rodriguez said that 3,142 families have been displaced after thousands of homes were destroyed or severely damaged, with many now taking shelter in temporary accommodation.
Rescue operations continued in the worst-affected coastal state of La Guaira and parts of the capital, Caracas, where emergency workers, volunteers and residents have been searching through the rubble for survivors. Some residents reported a shortage of heavy rescue equipment and a limited official response in the early days following the disaster.
Officials said more than 1,600 foreign rescue personnel have arrived in Venezuela to assist with search and recovery efforts, with additional international teams expected in the coming days. The twin earthquakes struck on Wednesday and have been followed by hundreds of aftershocks, complicating rescue operations and increasing concerns for affected communities.
Heavy Showers, Strong Winds Forecast Across Several Provinces
June 28, LNW(Colombo): Showers will occur at times in Western, Sabaragamuwa and North-western provinces and in Galle, Matara, Kandy and Nuwara-Eliya districts. Fairly heavy falls above 75 mm are likely at some places in these areas.
Showers or thundershowers may occur at a few places in Uva province and in Ampara and Batticaloa districts after 2.00 p.m.
Fairly strong winds about (30-40) kmph can be expected at times over Western slopes of the central hills Northern, North-central, North-western and Southern provinces and in Trincomalee district.
The general public is kindly requested to take adequate precautions to minimize damage caused by temporary localized strong winds and lightning during thundershowers.
The BOI Chair kept pending for failed Hulangamuwa
By: Adolf
June 25, LNW (Colombo):
As Sri Lanka navigates the precarious path toward economic recovery, the appointment of key financial overseers has come under intense scrutiny. According to high-level sources within the Ministry of Finance and government , the government is poised to appoint Duminda Hulangamuwa as the next Chairman of the Board of Investment (BOI). The appointment is reportedly scheduled to take effect upon his retirement from Ernst & Young (EY) Chartered Accountants in July. Meanwhile an acting appointment has been made. While on the surface this represents a routine transition of a senior professional into public service, the decision has ignited a firestorm of debate, raising critical questions about competence, accountability, and the political motivations behind the selection.
Failed Professional
The primary concern surrounding Mr. Hulangamuwa’s ascension stems from his recent tenure at Ernst & Young Sri Lanka, a period marked by one of the most significant financial scandals in the country’s recent history—the NDB fraud case. EY acted as the external auditors for NDB during the period in question, and critics argue that the firm failed to identify glaring red flags or internal control weaknesses prior to signing off on the bank’s financial statements. This oversight is alleged to have facilitated the bank’s ability to raise a staggering Rs. 16 billion through sustainable bonds, transactions that later came under a cloud of suspicion. While Mr. Hulangamuwa was the main figure at the firm, the association with such a colossal auditing failure raises uncomfortable questions about his suitability to lead the nation’s primary investment promotion agency, an institution tasked with attracting foreign capital and ensuring regulatory integrity.
Policy Failures
Beyond the audit scandal, Mr. Hulangamuwa’s track record as a policy advisor further fuels the skepticism. During the tenure of the previous administration under President Gotabaya Rajapaksa, he was among the external advisors who championed the introduction of a self-assessment tax system. The policy was intended to streamline revenue collection and reduce bureaucratic bottlenecks. However, the implementation proved disastrous. The government reportedly lost billions in potential revenue due to widespread underreporting and non-compliance, forcing the authorities into a humiliating policy reversal and a return to the older, more rigid tax enforcement mechanisms. This episode paints a picture of an advisor whose theoretical frameworks failed to translate into practical, sustainable fiscal outcomes for a struggling economy.
High Stakes
The decision to appoint Mr. Hulangamuwa is further complicated by the perceived inexperience of the current leadership. President Anura Kumara Dissanayake (AKD) and his administration have openly acknowledged their limited hands-on experience in high-level economic management. In this context, the reliance on a figure like Hulangamuwa appears to be a strategic, albeit risky, gamble to inject private-sector expertise into the state apparatus. The administration is clearly looking to Mr. Hulangamuwa to steer the economy, leveraging his decades of experience in corporate finance and auditing to build investor confidence and restructure the BOI’s operations. Yet, this dependency creates a paradox: if the economic strategy is being shaped by the same individuals who advocated for failed policies in the past, is the nation merely setting itself up for a repeat of previous mistakes? Given the high stakes of Sri Lanka’s current economic recovery—marked by stringent IMF targets and the need for immediate foreign direct investment—the appointment of the BOI Chair cannot be a matter of political patronage or tokenism. The role demands a visionary leader with a clean record, proven foresight, and an unyielding commitment to transparency. As Mr. Hulangamuwa prepares to take the helm, the onus is on the government to ensure that his decisions are subject to rigorous oversight. The “Little Wonder of Asia,” as Sri Lanka was once proudly called, has weathered storms before, but the current crisis requires more than just hope. It demands accountability from the very top. The people must trust that the watchdogs above—be they parliamentary committees, the Auditor General, or civil society—will keep a vigilant eye on the new BOI Chairman, ensuring that his tenure is defined not by past controversies, but by a genuine and successful push for national revival. Hulung according to analysts will have lot of answering to do in the future .
Vietjet opens bookings for first-ever direct flights between Sri Lanka and Vietnam
Colombo, 25 June 2026 – Vietjet has opened bookings with special launch fares for its new Colombo–Ho Chi Minh City route, scheduled to commence on 18 August 2026. The service will be the first scheduled direct air connection between Sri Lanka and Vietnam, further strengthening tourism, business, and cultural ties between the two countries.
To celebrate the new route, Vietjet is offering Eco fares from USD90 one-way (all-in), while passengers booking Deluxe and SkyBoss tickets can enjoy a 20% discount on base fares (excluding taxes and fees). Tickets are now available via Vietjet’s official website at www.vietjetair.com, the “Vietjet Air” mobile app, ticket offices, and authorised travel agents.
The Colombo–Ho Chi Minh City route will operate three round-trip flights per week on Tuesdays, Thursdays, and Saturdays. With a flight time of approximately five hours, the service offers a fast and convenient link between Sri Lanka’s commercial hub and one of Southeast Asia’s leading gateways. Through Vietjet’s expanding network, passengers from Colombo can also connect seamlessly to major cities and tourism hubs across the Asia-Pacific region.
Ho Chi Minh City, Vietnam’s largest city and economic powerhouse, opens the door to the country’s rich culture, thriving commerce, and contemporary lifestyle. Historic landmarks stand alongside modern skyscrapers, while its renowned culinary scene, vibrant nightlife, and flourishing arts community offer something for every traveller. From the legendary Cu Chi Tunnels and the historic Independence Palace to charming cafés overlooking Nguyen Hue Walking Street, the city presents a compelling blend of heritage and modernity.
In turn, the new route offers Vietnamese travellers easier access to Sri Lanka’s rich cultural heritage, scenic beaches, lush tea plantations, and renowned wildlife, further promoting two-way tourism between the two countries.
Flying with Vietjet, passengers can enjoy a selection of hot meals on board, including Vietnamese favourites such as phoand banh mi, served by the airline’s friendly cabin crew. Travellers can save up to 30% on pre-ordered meals, while members of the Vietjet SkyJoy loyalty programme can earn and redeem points across a network of more than 250 partner brands spanning travel, dining, shopping, and lifestyle.
As Vietnam’s leading new-age airline, Vietjet continues to expand connectivity across Asia-Pacific and beyond through its young and modern fleet, growing international network, and innovative, customer-focused services. The airline currently operates a fleet of 135 aircraft and has nearly 600 additional aircraft on order, supporting its long-term growth strategy and global network expansion.
New route information
| Section | Flight | Departure – Arrival (local time) | Frequency |
| Colombo (CMB) – Ho Chi Minh City (SGN) | VJ876 | 23:00 – 05:55 (+1) | Tue, Thu, Sat |
| Ho Chi Minh City (SGN) – Colombo (CMB) | VJ875 | 18:15 – 21:50 | Tue, Thu, Sat |
About Vietjet:
The new-age carrier Vietjet has not only revolutionized the aviation industry in Vietnam but also been a pioneering airline across the region and around the world. The airline currently operates 135 aircraft and has nearly 600 additional aircraft on order, including both wide-body and narrow-body aircraft. With a focus on cost management ability, effective operations, and performance, applying the latest technology to all activities and leading the trend, Vietjet offers flying opportunities with cost-saving and flexible fares as well as diversified services to meet customers’ demands.
Vietjet is a fully-fledged member of International Air Transport Association (IATA) with the IATA Operational Safety Audit (IOSA) certificate. As Vietnam’s largest private carrier, the airline has been awarded the highest ranking for safety with 7 stars by the world’s only safety and product rating website airlineratings.com and listed as one of the world’s 50 best airlines for healthy financing and operations by Airfinance Journal in many consecutive years. The airline has also been named as Best Low-Cost Carrier by renowned organizations such as Skytrax, CAPA, Airline Ratings, and many others.
Further information at www.vietjetair.com
Media contact:
Ms. Dilushi Siyambalapitiya
Email: [email protected]
Mobile: +94 764 477 489
Ms. Kieu Duong (Amy)
Email: [email protected]
Mobile: +84 932 775 066
Corporate Powerhouse Claims Policy Success after Budget Influence Revealed
The Ceylon Chamber of Commerce has claimed unprecedented success in influencing Government economic policy after revealing that 18 of its recommendations were adopted in Sri Lanka’s 2026 National Budget, highlighting the growing influence of the country’s largest private sector lobby.
The disclosure came as John Keells Holdings Chairman Krishan Balendra was unanimously re-elected Chairperson of the Chamber during its 187th Annual General Meeting, extending his leadership for another year.
While the election itself attracted significant attention, Balendra’s remarks offered a rare glimpse into how Sri Lanka’s leading corporate body increasingly shapes economic decision-making behind closed doors.
He said the Chamber had deliberately shifted away from conventional advocacy by working directly with Government institutions, industry groups and international development partners to produce evidence-based policy proposals rather than simply criticising existing regulations.
The Chamber’s recommendations reportedly covered several priority sectors including investment promotion, digital transformation, infrastructure development, trade facilitation and reforms aimed at improving the country’s ease of doing business. Balendra argued that the Government’s acceptance of 18 proposals demonstrates the effectiveness of collaborative engagement between policymakers and the private sector.
The organisation also became actively involved in addressing international trade challenges, particularly tariff-related issues affecting Sri Lankan exports. Chamber representatives participated in Presidential Committees where they presented private sector concerns and supported efforts to maintain export competitiveness amid changing global trade conditions.
Balendra said these interventions were designed to strengthen Sri Lanka’s economic resilience during a period of continuing recovery and increasing international competition.
The Chamber simultaneously expanded its overseas engagement by strengthening business partnerships across more than 20 countries, while increasing assistance to domestic small and medium enterprises. More than 1,800 SMEs reportedly received support through training programmes, advisory services and initiatives designed to improve market access both locally and internationally.
The newly elected leadership team reflects Sri Lanka’s corporate establishment. Standard Chartered Bank Sri Lanka CEO Bingumal Thewarathanthri will serve as Vice Chairperson, while Hirdaramani Group Chairman Vinod Hirdaramani assumes the role of Deputy Vice Chairperson.
Other Board members include Hayleys Agriculture Holdings Managing Director Jayanthi Dharmasena, Dialog Axiata Group CEO Supun Weerasinghe, Renuka Hotels Managing Director Shibani Thambiayah, Kasturi Chellaraja Wilson of Singapore’s 5-hour International Corporation, and Chamber Secretary-General and CEO Shiran Fernando.
David Pieris Motor Company Group Chairman Rohana Dissanayake joins the Board following the departure of former Nestlé Lanka Managing Director Bernhard Stefan, who recently relocated overseas.
Balendra also reflected on his family’s longstanding association with Sri Lanka’s corporate sector, noting that his father, Ken Balendra, chaired the Chamber from 1998 to 2000 during a transformative period for John Keells Holdings.
Looking ahead, Balendra pledged to deepen engagement with Chamber members, expand international partnerships, attract greater foreign investment and strengthen export growth while continuing to work closely with Government institutions to support Sri Lanka’s long-term economic recovery and business competitiveness.
Sri Lanka Unveils Sweeping Insolvency Law to Rescue Struggling Businesses
Sri Lanka is preparing to overhaul one of its oldest commercial laws in a bid to transform how financially distressed businesses and individuals are treated, replacing a system centred on liquidation with one that prioritises rescue, rehabilitation and economic recovery.
The proposed Rescue, Rehabilitation and Insolvency (Corporate and Personal) Bill, recently tabled in Parliament, is being described by senior government officials as one of the country’s most significant legal and economic reforms in decades. If enacted, it will replace the Insolvency Ordinance of 1853, a colonial-era law that has long been criticised for favouring asset liquidation over business revival.
Senior Finance Ministry officials said the objective is to provide legal safeguards that ensure the timely, transparent and impartial rehabilitation of viable businesses while facilitating the orderly closure of enterprises that are no longer economically sustainable.
The reform signals a fundamental shift in policy. Instead of allowing struggling firms to collapse under creditor pressure, the proposed law introduces a rescue-first approach designed to preserve productive businesses, protect employment and minimise economic disruption.
At the centre of the legislation is the creation of an independent Insolvency Regulatory Authority, which will supervise insolvency practitioners, establish professional standards and improve accountability throughout the restructuring process. Officials believe stronger regulation will increase confidence among lenders and investors while aligning Sri Lanka’s insolvency framework with internationally accepted practices.
Justice Ministry sources say the legislation introduces modern restructuring mechanisms that give distressed companies valuable “breathing space” before bankruptcy proceedings begin. One of the most significant provisions establishes an administration regime under which qualified administrators can temporarily take control of struggling businesses while creditors are prevented from enforcing debt recovery actions. This temporary legal protection allows companies time to negotiate restructuring plans instead of being forced into immediate liquidation.
The reforms are also expected to strengthen the banking sector by improving the recovery of non-performing loans. Financial institutions are encouraged to waive unpaid interest accumulated between April 2019 and December 2024 for eligible borrowers undergoing restructuring, excluding previously capitalised interest.
Another major safeguard prevents banks from automatically rejecting loan applications solely because borrowers have adverse Credit Information Bureau (CRIB) records if those borrowers are participating in approved restructuring programmes. Officials believe this measure will allow financially distressed but otherwise viable businesses to regain access to credit needed for recovery.
The Finance Ministry argues that adopting globally recognised insolvency standards will improve Sri Lanka’s investment climate by reducing uncertainty in the domestic credit market. Foreign investors have frequently identified outdated insolvency laws as a barrier to investment, making the proposed legislation an important structural reform.
, Sri Lanka will move away from a punitive insolvency model towards one focused on rehabilitation, business continuity and economic resilience. For thousands of companies still recovering from successive economic crises, the legislation could represent the difference between closure and survival.
Sri Lanka Races to Secure Billions amid Mounting Economic Risks
Sri Lanka is pursuing an ambitious external financing strategy aimed at mobilising nearly Rs.700 billion (around US$2.3 billion) this year, as authorities battle mounting geopolitical uncertainty, rising import costs, and the lingering economic fallout from natural disasters. Despite global turbulence, the government insists the country remains on course to meet its financing targets while limiting dependence on foreign borrowing.
Senior Finance Ministry officials revealed that the external financing programme accounts for only 10 percent of Sri Lanka’s total gross financing requirement under the 2026 Annual Borrowing Plan, with the remaining 90 percent expected to be financed through domestic debt markets. This approach reflects a deliberate effort to reduce exposure to volatile international capital markets while maintaining access to concessional foreign funding.
The government expects to mobilise approximately US$1 billion in official foreign financing during the first half of the year. The largest share around US$700 million is expected from the International Monetary Fund following the completion of its fifth and sixth programme reviews. Additional funding of about US$200 million is anticipated from the World Bank and the Asian Development Bank (ADB), while a further US$900 million in external inflows is projected over the coming months.
The financing drive comes as Sri Lanka faces multiple economic pressures. The devastating impact of Cyclone Ditwah, rising fuel prices triggered by Middle East tensions, an expanding import bill, and continued pressure on the rupee have significantly complicated economic management. Nevertheless, officials maintain that prudent fiscal management and disciplined borrowing have enabled the government to navigate these challenges without major disruptions.
Encouragingly, non-debt foreign exchange inflows continue to strengthen the country’s external position. Worker remittances reached US$3.91 billion during the first five months of 2026, representing a strong 26 percent year-on-year increase. Gross official reserves have also remained relatively stable between US$6.8 billion and US$7 billion, providing a measure of protection against external shocks.
However, weaknesses remain within the broader financial account. While foreign investors recorded a modest US$17 million net inflow into government securities, the Colombo Stock Exchange continued to experience equity outflows, highlighting investor caution despite improving macroeconomic indicators.
The government is also attempting to attract greater foreign direct investment through a proposed Public-Private Partnership Act, expected later this year. Officials believe the legislation will unlock private capital for infrastructure, renewable energy and telecommunications projects, reducing reliance on sovereign borrowing.
Progress on debt restructuring has strengthened confidence among international lenders. Authorities say agreements covering 99 percent of bilateral creditors have now been completed, improving access to concessional funding from multilateral institutions.
Hitherto concerns persist. Appearing before the Parliamentary Committee on Public Finance, Central Bank Governor Dr. Nandalal Weerasinghe warned that escalating global conflicts have made short-term external sector forecasts highly uncertain. He cautioned that rising energy prices and import costs could quickly erode gains achieved through recent economic reforms, making the coming months a critical test for Sri Lanka’s fragile recovery
Politics Stalls Sri Lanka’s Biggest Untapped Economic Opportunity
For nearly 15 years, Sri Lanka has debated, postponed and politicised a trade agreement that many economists believe could reshape the country’s economic future. As India cements its position as one of the world’s fastest-growing major economies, questions are mounting over whether Sri Lanka’s prolonged hesitation over the proposed Economic and Technology Cooperation Agreement (ETCA) has already cost billions in missed investment and trade opportunities.
Samagi Jana Balawegaya (SJB) MP Dr. Harsha de Silva believes the answer is yes.
Addressing a forum commemorating the 25th anniversary of the India-Sri Lanka Free Trade Agreement (ISFTA), Dr. de Silva argued that while neighbouring countries have aggressively pursued economic partnerships with India, Sri Lanka remains trapped in decades-old trade arrangements that no longer reflect the realities of global commerce.
According to him, India has signed multiple modern trade agreements while Sri Lanka continues to rely on the ISFTA, which was designed primarily to reduce tariffs rather than integrate industries into regional production networks.
The consequences, he suggested, are becoming increasingly evident.
As multinational manufacturers diversify their supply chains across Asia, countries with stronger economic integration have attracted greater foreign direct investment and export-oriented industries. Sri Lanka, however, has struggled to secure similar opportunities despite its close proximity to India’s booming southern states.
Dr. de Silva pointed to Tamil Nadu, Karnataka, Andhra Pradesh and Telangana some of India’s fastest-growing industrial hubs as markets located just across the Palk Strait. Yet Sri Lankan businesses remain largely disconnected from these expanding manufacturing ecosystems.
The MP argued that the proposed ETCA was never simply about increasing imports or reducing tariffs. Instead, its primary objective is to allow Sri Lankan companies to become suppliers within India’s vast manufacturing chains while encouraging greater Indian investment into local industries.
However, political opposition and misinformation have repeatedly stalled negotiations.
Successive governments have faced resistance from groups concerned that opening parts of Sri Lanka’s services sector could threaten local professionals and employment. While acknowledging these concerns, Dr. de Silva maintained that the debate has often overlooked the possibility of introducing safeguards, regulatory controls and professional accreditation systems capable of protecting domestic workers while still encouraging investment.
Beyond political disagreements, practical trade barriers continue to frustrate exporters. Sri Lankan businesses frequently encounter certification delays, product testing requirements and logistical bottlenecks that reduce the benefits of the existing free trade agreement. Dr. de Silva argued that these non-tariff barriers must be addressed alongside any future economic partnership.
He also questioned why ETCA has largely disappeared from recent high-level discussions between Colombo and New Delhi despite frequent diplomatic engagements. The absence of clear political direction, he warned, risks further delaying a deal that many believe is essential for long-term economic recovery.
With Sri Lanka seeking sustainable growth after years of economic turmoil, the debate surrounding ETCA is once again returning to the national agenda. Dr. de Silva insisted that the country can no longer depend solely on its limited domestic market and must instead position itself within South Asia’s rapidly expanding economic landscape.
Whether Sri Lanka finally moves beyond years of indecision may ultimately determine whether it becomes a participant in the region’s next phase of economic growth or watches it unfold from the sidelines.
President urges tea and rubber industries to drive exports and foreign exchange growth
President Anura Kumara Dissanayake has told leading representatives of the tea and rubber industries that the Government’s priority is to strengthen local industries, expand exports and increase net foreign exchange earnings in order to reduce Sri Lanka’s dependence on debt.
Speaking during a discussion at the Presidential Secretariat, the President said Sri Lanka must follow export-driven development models adopted by successful economies and called on industries to improve production efficiency, share reliable data and adopt more scientific approaches to growth.
The discussions focused on a new export strategy to be implemented under the 2026–2030 National Export Development Plan.
In the rubber sector, attention was given to expanding value-added production, addressing shortages of raw materials and labour, and improving cultivation in new regions. Industry representatives also highlighted concerns regarding tyre imports, delays in VAT refunds and regulatory issues affecting exporters.
Tea sector representatives raised concerns about rising export costs to Middle Eastern markets and sought Government intervention on financial matters linked to the Iran “oil for tea” arrangement. They also requested support to improve productivity among smallholder tea growers.
According to officials, the meeting concluded with industry leaders expressing support for the Government’s efforts to strengthen exports, increase foreign exchange earnings and promote long-term economic growth.