News
Inflation in Lanka hits record 73.7 percent
(Al Jazeera) Sri Lanka’s National Consumer Price Index (NCPI) rose to a new high of 73.7 percent in September from a year earlier, quickening from 70.2 percent in August, the statistics department said.Annual food price inflation picked up to 85.8 percent from 84.6 percent in August, while prices of non-food items rose 62.8 percent. Sri Lanka’s Central Bank Governor Nandalal Weerasinghe predicted earlier on Thursday that inflation in the island nation is peaking, with price rises likely to ease this month.
The NCPI captures broader retail price inflation and is released with a lag of 21 days every month. The more closely monitored Colombo Consumer Price Index (CCPI), released at the end of each month, rose 69.8 percent in August. It acts as a leading indicator for national prices and shows how inflation is evolving in Sri Lanka’s biggest city.But the higher-than-expected inflation numbers are unlikely to push the central bank to increase rates next month, analysts told Reuters.
“Tariff increases for power and water implemented in August has spilled over into September along with a tax hike for telecommunications,” said Dimantha Mathew, head of research for Colombo-based investment firm First Capital, giving reasons for the inflation spike.
“However, the central bank is unlikely to increase rates as the economy is cooling down and we expect to see the pace of inflation slowing down from October.”
Sri Lanka is planning to increase direct taxes to reduce the deficit in its upcoming budget for 2023 and put the economy on a more stable footing, President Ranil Wickremesinghe said.An acute dollar shortage, caused by economic mismanagement and the impact of the COVID-19 pandemic, has left Sri Lanka struggling to pay for essential imports, including food, fuel, fertiliser and medicine.
In September, the country reached a preliminary deal with the International Monetary Fund for a loan of about $2.9bn, contingent on it receiving financing assurances from official creditors and negotiations with private creditors.
News
Iranian ships stranded, Lanka fears US sanctions
‘Companies may face US sanctions’: Lanka to put ‘national interest’ first as 19 Iranian vessels seek help
(ToI) Sri Lanka said on Friday it would “prioritise our national interests” before providing assistance to the crews of 19 Iranian ships anchored in international waters near the island nation.The crews are facing shortages of food, water and fuel. A foreign ministry spokesperson cited the risk of US sanctions against Sri Lankan companies supplying the vessels as a key concern.
The United States and Iran have been at war since February 28, when the US and Israel launched joint strikes against the Islamic Republic.
“Sri Lanka will put its national interest first before considering any help, and the companies that supply ships are aware of possible secondary sanctions from the United States,” spokesperson Thushara Rodrigo told reporters, ruling out any immediate assistance to the vessels.
Rodrigo clarified, however, that Sri Lanka had received no communication from the United States warning of repercussions if it decided to assist the vessels.According to Rodrigo, the ships are stationed 24 nautical miles off Sri Lanka’s coast.The Iranian Embassy said it had no information on the matter.
In March, a US torpedo attack sank the Iranian naval vessel IRIS Dena in Sri Lankan waters, killing 87 sailors.
The ship was returning to Iran after participating in a naval exercise at India’s invitation. A second Iranian vessel was brought to a Sri Lankan port after its crew reported technical problems.
Wounded sailors were treated at Sri Lankan hospitals, while those rescued from the second vessel were safely repatriated to Iran.
Sri Lanka is still recovering from an economic crisis, with both the United States and Iran serving as important trading partners. Washington played a key role in securing an International Monetary Fund bailout and supporting Sri Lanka’s agricultural sector to help avert a food crisis.
News
Sri Lanka CERT warns of overseas university admission scams
Sri Lanka CERT has warned the public of fraudulent social media advertisements offering admission to foreign universities after receiving complaints from parents and students who have lost hundreds of thousands of rupees to scammers.
The fraudsters reportedly pose as representatives of reputed foreign universities, promising admission, student visas, work permits and even eventual citizenship in return for registration fees and initial tuition payments.
They use convincing videos, photographs and documents circulated via email and WhatsApp to gain the confidence of unsuspecting victims before asking them to transfer money to foreign bank accounts. The scammers then disappear after receiving the payments, Sri Lanka CERT said.
The agency has urged prospective students and their parents to verify the authenticity of university representatives, documents and bank account details before making payments, and to seek overseas education opportunities only through legitimate and recognised channels.
News
Navi Pillay’s Lankan affairs in focus as she wins 2026 Nobel Peace Prize
Former UN High Commissioner for Human Rights and International Court of Justice judge Navanethem “Navi” Pillay has won the 2026 Nobel Peace Prize for her contribution to international law and efforts to promote peace, the Norwegian Nobel Committee announced in Oslo on Friday.
Announcing the award, committee chairman Jørgen Watne Frydnes said Pillay had “significantly enlarged the scope and impact of international law” and helped advance “a more comprehensive global legal order” with exceptional courage. He also praised her long career, which began as a lawyer confronting deep-rooted discrimination in South Africa, and described her as a person with a “firm moral compass”.
Pillay, 85, served as the UN High Commissioner for Human Rights from 2008 to 2014. Her tenure brought her into sharp focus in Sri Lanka, particularly over her assessment of the country’s human rights situation in the aftermath of the decades-long civil war.
During an official fact-finding visit to Sri Lanka from August 25 to 31, 2013, Pillay travelled to areas including Jaffna, Kilinochchi and Trincomalee, where she met civil war survivors, families of the disappeared and local communities.
Following the visit, she warned that Sri Lanka was moving towards authoritarianism and highlighted what she described as a persistent climate of fear.
She also reported intimidation and harassment of people who had sought to meet her during the mission.
Pillay urged the UN Human Rights Council to establish an international inquiry mechanism to investigate alleged war crimes and crimes against humanity committed by both government forces and the LTTE during the final stages of the 26-year civil war.
Her observations and recommendations became a significant part of international scrutiny of Sri Lanka’s post-war human rights record.
The Norwegian Nobel Committee received 287 nominations for this year’s Peace Prize, slightly more than a quarter of them being organisations. The committee traditionally considers efforts to promote peace, international fraternity and institutions that contribute to lasting stability.
Last year, Venezuelan opposition leader Maria Corina Machado won the prize for her campaign for a democratic transition in Venezuela. She was praised as a woman who kept the flame of democracy burning amid growing darkness.
The 2026 award marks the 125th anniversary of the Nobel Peace Prize, first presented in 1901. Over its history, the prize has recognised prominent figures and organisations involved in advancing peace, human rights and international cooperation.
-
News6 days agoGeneva takes up Sallay’s case and govt. ignores opportunity to answer accusations
-
Features5 days agoPreventing grievances from becoming communal
-
Features3 days agoThe Sri Lankan who made Scottish history
-
Sports3 days agoNissanka absence opens door for Sri Lanka’s young guns
-
News4 days agoGnansara Thera to be assigned to prison printing section: Officials
-
Features6 days agoSri Lanka Cricket Bill: Governance reform is not yet a cricket strategy
-
News2 days agoNDB fraud Rs 60mn more than reported
-
Features3 days agoFuture of Sri Lanka’s state university system: Should it be shut down and reopened?
