Cabinet approves land for Nanoscience Park

The Cabinet of Ministers approved the transfer of land for the establishment of a Nanoscience Park and the Faculty of Technology at the University of Colombo at the Cabinet meeting held yesterday 21 July,2025. This decision was made following a proposal by the Minister of Urban Development, Construction, and Housing. The Urban Development Authority (UDA) had acquired 91.40 hectares (225 …

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Committee recommends removal of Deshabandu

Parliament was informed today July 22, that the special committee appointed to investigate suspended IGP Deshabandu Tennakoon has recommended his removal from office. Speaker Dr. Jagath Wickramaratne stated that the committee’s report, submitted to Parliament, had unanimously found Tennakoon guilty of serious misconduct and abuse of power. This recommendation follows a series of serious allegations, including Tennakoon’s alleged involvement in …

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IMF warns of trade threats to SL’s growth

Sri Lanka’s economy is expected to grow by 3.5% this year, after recording 5% growth last year, according to the World Bank, showing signs of steady recovery from the 2022 financial crisis. However, the International Monetary Fund (IMF) warns that global trade issues, especially with the United States could slow down that progress. In a statement issued after completing its …

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SL ahead in digital finance access, says WB report

The Global Findex 2025 report by the World Bank highlights that Sri Lanka has performed better than many South Asian countries in providing access to bank accounts and digital payments. According to the report, over 650 million adults globally still don’t have a financial account, and many lack access to mobile phones or digital financial services. More than half of …

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Central Expressway Project gets China’s Exim Bank funding soon

Funding from China’s Export-Import (Exim) Bank could resume by September or October to continue the construction of the long-delayed Central Expressway Project (CEP), the Road Development Authority (RDA) announced. RDA Chairman T. Paskaran confirmed that negotiations with the bank were ongoing, in the aftermath of disbursements being suspended due to Sri Lanka’s economic crisis. “Negotiations with the donor are currently …

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