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The Government of Sri Lanka has secured a Special Drawing Rights (SDR) financing package equivalent to US$50 million from the World Bank Group to accelerate a nationwide digital transformation programme aimed at modernizing public service delivery.

The funding will support the Sri Lanka Digital Transformation Project, a flagship initiative under the Digital Economy Strategy (2025–2030), designed to improve efficiency, transparency, and accessibility in government services through advanced digital platforms.

Cabinet approval to seek international development financing for the project was granted in October 2025, paving the way for negotiations involving government stakeholders and the World Bank. With negotiations now concluded, the project is set to move into its implementation phase.

Under the agreed framework, the Ministry of Finance, Planning, and Economic Development will serve as the borrower on behalf of the government, while Gov Tec Sri Lanka will oversee project execution, coordinating digital infrastructure upgrades and service integration across state institutions.

Approval for the financing arrangement was formally endorsed by the Cabinet of Ministers following a proposal submitted by the President in his capacity as Minister of Finance. The borrowing terms were reviewed and recommended by the Public Debt Management Office in accordance with the provisions of the Public Debt Management Act No. 33 of 2024.

Officials say the initiative marks a significant step toward building a digitally enabled public sector, enabling citizens and businesses to access government services faster, more transparently, and with reduced administrative barriers.

The US government has given its official backing to the UK’s plan to hand over the Chagos Islands to Mauritius and lease back an important military base.

In a statement, the US Department of State said it “supports the decision of the United Kingdom to proceed with its agreement with Mauritius concerning the Chagos archipelago”.

It will come as a relief for the UK government after rapid changes in the position of US President Donald Trump on the deal, going from calling it an “act of great stupidity” to saying the deal was the “best” the prime minister could make.

The announcement comes ahead of talks between the US and Mauritius planned for next week.

In its statement, the US Department of State said that “the US reiterates its desire” for guaranteed “continued use” of the military base on Diego Garcia.

Diego Garcia is the largest island in the archipelago, and is used by the UK and US armed forces. Under the new plan, the UK will lease back Diego Garcia for a period of 99 years.

Continuing on the military base would “advance US national security” and ensure the “security and stability across the Indian Ocean”, the US Department of State added.

The US government had previously signalled it would back the deal worth £3.4bn ($4.6bn) that was signed by the UK in May.

At the time the Secretary of State Marco Rubio said the US “welcomed” the deal, before Trump described the plan in a post on Truth Social last month as “an act of great stupidity”.

The comments came amid high tensions between the White House and European nations over the US President’s desire to purchase Greenland from Denmark and his threats to impose tariffs on the UK and other nations that had backed Denmark.

The UK government said it would “never compromise on our national security”, while at the time the prime minister’s official spokesperson insisted the US still supported the move.

The talks set to take place next week will be held in the capital of Mauritius, Port Louis.

They will focus on “security co-operation” and “effective implementation of security arrangements” to ensure long-term success between the Mauritius government and the US, the US State Department has said.

The Chagos Islands – officially known as the British Indian Ocean Territory – are located about 5,799 miles (9,332km) south-east of the UK and about 1,250 miles north-east of Mauritius, in the Indian Ocean.

The islands have been under British control since 1814 and were bought by the government for £3m, which led to the establishment of the islands as an overseas territory in 1965.

But Mauritius has long argued that it was illegally forced to give the islands away as part of a deal to gain independence.

Source: adaderana.lk

Millions of Muslims around the world are marking the beginning of the holy month of Ramadan on different days this year, reflecting variations in moon-sighting practices among countries.

Authorities in Saudi Arabia confirmed that the Ramadan crescent was sighted on Tuesday evening, making Wednesday the first day of fasting. Several other nations including Qatar, United Arab Emirates, Kuwait, Bahrain, Palestine, Sudan, Somalia, and Djibouti also announced Wednesday as the first day of Ramadan.

In Iraq, both Sunni and Shiite religious authorities confirmed that fasting would begin on Wednesday, while in Yemen, the Houthi administration declared that areas under its control would also start observing Ramadan the same day. Sunni Muslims in Lebanon will likewise begin fasting Wednesday, according to Grand Mufti Abdul Latif Derian.

However, several countries announced a Thursday start after the crescent moon was not sighted locally. Religious authorities in Egypt, led by Grand Mufti Nazir Ayyad, confirmed that Ramadan would begin a day later. The same decision was taken by Jordan, Syria, Indonesia, Pakistan, Iran, Tunisia, and Malaysia.

Meanwhile, authorities in Türkiye, Oman, Singapore, and Australia set Thursday as the first day of fasting based primarily on astronomical calculations confirming the lunar calendar timeline.

In Morocco, officials are expected to conduct the traditional moon sighting on Wednesday evening to determine the official start of the month.

Ramadan, the ninth month of the Islamic lunar calendar, begins with the sighting of the crescent moon. While many countries continue to rely on physical moon sightings, an increasing number are adopting astronomical calculations, particularly when scientific data indicates that visual observation is unlikely.

President Anura Kumara Dissanayake held a meeting with Sergio Gor, the US Ambassador to India, and the Special Representative for South and Central Asia of the United States, in New Delhi on the morning of February 18.

The meeting coincided with President Dissanayake’s visit to attend the ‘AI Impact Summit 2026,’ where he was invited by Indian Prime Minister Narendra Modi. Discussions focused on strengthening diplomatic engagement and exploring regional cooperation amid the global technology and artificial intelligence dialogue.

The Sri Lankan Rupee showed minimal movement against the US Dollar on February 18, remaining mostly unchanged compared to the previous day, with only a slight increase in exchange rates.

According to the Central Bank of Sri Lanka, the buying rate of the US Dollar edged up marginally from Rs. 305.47 to Rs. 305.48. Similarly, the selling rate experienced a minor increase, rising from Rs. 313.01 to Rs. 313.02.

The Rupee also continued to demonstrate stability against a range of other foreign currencies, including those widely used in Gulf countries, reflecting overall steady conditions in the foreign exchange market.

The National Water Supply and Drainage Board (NWSDB) has reported a disruption in water distribution to multiple areas in and around Colombo following an unexpected failure in the main transmission pipeline running from Ambatale to Dehiwala.

As a result of the breakdown, water supply has been temporarily suspended in several locations, including Moratuwa, Rawathawatta, Soysapura, Ratmalana, Dehiwala, Mount Lavinia, Wellawatte, Pamankada, Mulleriyawa, and Kolonnawa.

In addition, the NWSDB stated that residents in Battaramulla may experience reduced water pressure due to the same issue. Authorities are expected to carry out repair work to restore normal supply as soon as possible

Authorities have summoned Maithree Wickremesinghe, the spouse of former President Ranil Wickremesinghe, to appear before the Financial Crimes Investigation Division on February 20 to provide a statement related to an ongoing financial investigation.

The development was disclosed by the Criminal Investigation Department when the case concerning the alleged misappropriation of public funds was taken up before the Colombo Fort Magistrate’s Court.

Investigators are examining allegations that state funds exceeding Rs. 16.2 million were improperly utilized. The complaint claims that the money was spent on a private overseas visit to the United Kingdom in 2023, where the former president had traveled to attend his wife’s graduation ceremony.

In a related development, former Presidential Secretary Saman Ekanayake, who had been taken into custody over the same case, was released on bail by Colombo Fort Magistrate Isuru Neththikumara. The court ordered his release on two surety bails of Rs. 2 million each, following a request made by President’s Counsel Kalinga Indatissa.

Ranil Wickremesinghe had also been arrested in connection with the investigation but was later granted bail by the same court. The inquiry remains ongoing as authorities continue to gather statements and examine evidence related to the alleged misuse of government funds.

Sri Lanka’s Health Minister Nalinda Jayathissa held discussions with newly appointed Prime Minister Tarique Rahman during his official visit to Dhaka for the swearing-in ceremony of the new government.

During the meeting, Minister Jayathissa extended congratulations to Prime Minister Rahman on behalf of the Government and citizens of Sri Lanka.

The two leaders also explored opportunities to enhance bilateral ties, with special emphasis on collaboration in the pharmaceutical industry and the tourism sector.

Earlier in the day, Minister Jayathissa attended the official inauguration ceremony marking Prime Minister Rahman’s assumption of office.

The Colombo Stock Exchange ended the day slightly in the red, as cautious investor sentiment cooled the previous session’s upward momentum. Turnover and share volumes both declined, with market activity remaining confined to a narrow range near historic highs.

The Capital Goods sector dominated trading, generating nearly LKR 1 billion in turnover. Access Engineering PLC stood out as a key driver of activity, recording strong trading interest and posting a modest price gain, helping cushion broader market losses.

By the close, the All Share Price Index (ASPI) slipped 17.29 points to 23,882.82, while the S&P SL20 edged down marginally to 6,708.71. Total market turnover reached LKR 4.23 billion with more than 160 million shares traded, though the number of declining stocks continued to outpace gainers, reflecting persistent selling pressure.

Crossing transactions accounted for roughly 9% of daily turnover, led by a large block trade in Vallibel One PLC, which recorded the day’s biggest negotiated deal.

Overall, the session maintained a cautious tone, with investors selectively accumulating shares while closely watching corporate earnings announcements and short-term market direction.

Peru’s Congress voted on Tuesday to censure the country’s interim president, effectively ending the brief tenure of Jose Jeri after just over four months in office.

The extraordinary session, which convened as lawmakers were officially on legislative recess, concluded with 75 votes in favor, 24 against, and three abstentions.

Jeri, who ascended the presidency just last October following the removal of Dina Boluarte, was the eighth head of state to lead the South American nation in just 10 years.

His censure comes as national elections are scheduled to take place in just two months. The motion was propelled by an alliance between a minority leftist opposition and a bloc of right wing parties, with both sides arguing that he lacked "functional suitability" to lead the country through the upcoming transition.

Jeri’s removal was also driven by a series of corruption probes launched by the prosecutor’s office. Jeri faces two major investigations for alleged influence peddling.

The most damaging scandal involved leaked footage of Jeri arriving late at night at a local restaurant to meet Zhihua Yang, a Chinese businessman whose company had recently secured government approval for a major hydroelectric plant.

Public outcry intensified over the clandestine nature of the meeting, which was omitted from the official presidential agenda, and the fact that Jeri appeared to be wearing a hooded sweatshirt in an attempt to disguise his identity.

The second stems from a report by local media, which revealed that five women close to the president held private meetings in his personal office until midnight. According to the report, all five women subsequently secured lucrative government contracts.

While Jeri has denied any wrongdoing — denouncing the investigations as a "destabilization plot" orchestrated by his political enemies — his public approval ratings plummeted.

Fernando Rospigliosi, the current president of Congress, announced that the legislature would convene again Wednesday to elect the successor to lead the country until a new administration is sworn in.

Source:Adaderana.lk