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Gold prices climbed to an all-time high on Wednesday, rising above the $4,800 mark per ounce as investors sought safe-haven assets amid heightened geopolitical uncertainty and a weaker US dollar.

Spot gold advanced 1.2% to $4,821.26 per ounce by 0226 GMT, after touching a record peak of $4,843.67 earlier in the session. Meanwhile, US gold futures for February delivery gained 1% to $4,813.50 per ounce.

Market sentiment was shaken by renewed concerns over global trade and security following comments by US President Donald Trump regarding Greenland. His stance raised fears of escalating trade tensions with Europe and potential strain on the NATO alliance. Trump said there was “no going back” on his objective to control Greenland, declining to rule out the use of force, before later stating that a resolution could be reached that would satisfy both NATO and the United States.

European leaders responded sharply, with French President Emmanuel Macron warning that Europe would not be intimidated, criticizing Trump’s threat of imposing steep tariffs if European nations resisted his plans.

Analysts noted that the uncertainty has undermined confidence in the US currency, prompting investors to move away from the dollar and long-term US Treasuries in favor of gold. The dollar hovered near three-week lows against the euro and Swiss franc, while Asian equities extended losses for a third consecutive session. A weaker dollar has also made dollar-priced metals more attractive to international buyers.

The US Federal Reserve is widely expected to keep interest rates unchanged at its January 27–28 meeting, despite pressure from Trump to lower rates. Gold, which does not yield interest, typically benefits in lower-rate environments.

Elsewhere in the precious metals market, spot silver slipped 1% to $93.59 per ounce after reaching a record high of $95.87 on Tuesday. Platinum fell 0.7% to $2,445.96 after earlier hitting an all-time high of $2,511.80, while palladium declined 0.5% to $1,857.19 per ounce.

The Maligakanda Magistrate’s Court has fined a businessman operating along Old Moor Street in Colombo 12 Rs. 10,000 following a raid carried out by the Consumer Affairs Authority (CAA).

The court also ordered the seizure and destruction of 19 sacks of imported turmeric chunks, each weighing 25 kilograms, with an estimated value of around Rs. 2 million. Investigations revealed that the products were being sold without legally required details identifying the importer, distributor, or supplier.

The CAA stated that the turmeric stock had been stored in breach of existing regulations and was considered unfit for human consumption at the time the ruling was delivered.

The Air Force One aircraft carrying U.S. President Donald Trump, who departed the White House to attend the World Economic Forum in Davos, Switzerland, was forced to turn back after experiencing a minor electrical malfunction.

According to foreign media reports, the aircraft returned to the St. Andrews military base shortly after takeoff. The issue reportedly occurred within less than an hour of the flight’s departure.

U.S. authorities stated that President Trump is expected to continue his journey to Switzerland aboard an alternative aircraft.

President Trump is scheduled to address the World Economic Forum in Davos later today. Reports also indicate that discussions are set to begin tomorrow in Davos on the establishment of a peace council focused on the Gaza Strip.

President Donald Trump marked the one‑year anniversary of his return to the White House on Tuesday with a wide-ranging news conference that meandered from crime mugshots and immigration raids to the Nile River, Nobel Peace Prize and biker gangs.

Speaking at the White House briefing room podium, Trump repeatedly veered off message. He mused about the Nile River being in Egypt, joked about renaming the Gulf of Mexico the Gulf of Trump, made demeaning comments about Somali Americans, complained about not getting enough credit for his record and professed admiration for the controversial Hells Angels motorcycle club. “They voted for me,” Trump said.

The surprise appearance shortly before he was due to fly to Switzerland to join other world leaders at the World Economic Forum was meant to focus on Trump’s achievements during his first year back in office.

But in an 81-minute opening monologue full of superlatives, he veered between self-congratulatory and defensive, and his core message was often lost. He then took questions from reporters for 24 minutes, for a total time behind the podium of one hour and 45 minutes.

Immigration and crime dominated Trump’s remarks. He described U.S. Immigration and Customs Enforcement agents, especially those currently involved in an immigration crackdown in Minnesota, as patriots and decried people protesting against them as paid agitators. A federal agent shot and killed a U.S. citizen there this month.

Trump this year has deployed the National Guard to Democratic-run cities, and he has threatened to deploy the regular military to Minnesota, moves that have drawn opposition from local officials. “To me a town, it looks better when you have military people,” Trump said.

Without providing data, he also said Washington had less crime since National Guard troops arrived in the U.S. capital last summer. “Your lover’s not going to be killed” walking through the city, Trump said.

In remarks that echoed a 2024 campaign speech, Trump repeated many talking points from the last election. He castigated his predecessor, Democrat Joe Biden, and again falsely claimed the 2020 presidential election was stolen from him.

TRUMP’S BINDER OF ACHIEVEMENTS

Trump paged through a thick wad of printouts entitled “365 Wins in 365 Days,” a compilation of what the administration cited as daily achievements since his second inauguration on January 20, 2025.

It pointed to accomplishments from drastically reducing the number of immigrants entering the country illegally to improving consumer choice for shower heads and toilets.

At one point, Trump took a large binder clip off the sheaf of papers and joked it could have taken his finger off, saying it had probably been meant to hurt him. “I wouldn’t have shown the pain,” he said.

He spent the first 15 minutes displaying mugshots of Minnesota residents who he said were in the country illegally and had been arrested for serious crimes. After he finished, he tossed the pictures onto the floor next to him.

Trump demonized Somali immigrants, calling them “very low IQ people” and repeated his false assertion that Somalia was not even a country. Trump has justified his Minnesota immigration crackdown partly as a response to fraud involving federal hunger programs by charities and organizations linked to the Somali community there.

Trump also reiterated his exaggerated claim that he has helped end eight foreign wars. He has repeatedly said that he deserves the Nobel Peace Prize, which he did not win in December, and has cited that omission as one reason for his push to acquire the Danish territory of Greenland.

He added on Tuesday he did not believe the Norwegian government’s statement that it does not control the Nobel Foundation, which awards the prize.

Source: adaderana.lk

The Government Radiological Technologists’ Association has announced plans to carry out a 24-hour symbolic strike across all hospitals in the country today (21 January).

According to the Association’s President, Chanaka Dharmavikrama, the decision was taken in response to the Ministry of Health’s failure to address concerns over what he described as arbitrary actions by the Deputy Director of the Maligawatta Kidney Hospital.

Meanwhile, an ongoing strike at the Akkaraipattu Hospital, launched in protest against the conduct of a Medical Officer, remains in effect. Media Spokesman of the Government Medical Officers’ Association (GMOA) in the Eastern Province, Dr. Chamil Wijesinghe, confirmed that the protest has entered its fifth consecutive day today.

The Department of Meteorology has announced that the prevailing dry weather across the island is likely to change from Friday (23), signaling a shift in current weather conditions.

For today (21), however, mainly dry weather is expected to continue in most parts of the country. The department also warned of possible ground frost in certain areas of the Nuwara Eliya District during the early morning hours.

In addition, misty conditions are forecast in several regions, including the Western, Sabaragamuwa, Central, North Western, North Central and Uva provinces. Similar conditions may also be experienced in parts of the Galle, Matara and Ampara districts during the early hours of the day.

The Ministry of Education announced that the second phase of the first school term for the 2026 academic year in government and government-approved private schools commenced today.

The initial phase of the term was conducted from January 5 to 9. However, schools were subsequently closed from January 10 until yesterday due to the impact of Cyclone Ditwah and the rescheduling of the GCE Advanced Level examinations.

According to the ministry, the newly commenced phase will continue until February 13. Schools are scheduled to close once again from February 14 to March 2 to facilitate the conduct of the 2025 GCE Ordinary Level examinations.

The ministry further noted that Muslim schools will observe an extended closure period from February 14 to March 22 in view of the Ramadan festival

Sri Lanka’s apparel sector has received a timely boost from the United Kingdom, as London moves to further liberalise trade rules under its Developing Countries Trading Scheme (DCTS), sharpening the island’s competitive edge in one of its most important export markets.

The UK, Sri Lanka’s second-largest export destination, rolled out the DCTS in June 2023 to grant preferential access to 65 developing economies. For Sri Lanka, the scheme already opened the door wide: more than 92% of its product lines qualify for duty-free entry. Now, a new round of reforms promises to transform opportunity into momentum.

From 1 January 2026, liberalised rules of origin under the DCTS will allow Sri Lankan apparel manufacturers to source up to 100% of their raw materials from anywhere in the world without losing zero-tariff access to the UK market. The change marks a significant departure from earlier restrictions and offers manufacturers far greater flexibility to manage supply chains, control costs, and respond swiftly to global demand.

The stakes are high. Apparel exports to the UK were valued at around USD 660 million in 2024 and approximately USD 610 million in 2025, with garments accounting for nearly 73% of Sri Lanka’s total exports to the UK. Industry stakeholders say the revised DCTS rules could help reverse recent dips, attract new buyers, and secure long-term growth.

Equally significant is the removal of complex compliance hurdles. The revised framework eliminates the requirement that two substantial manufacturing processes must take place locally an obligation that often added administrative burden and operational constraints. The simplified processing rules are expected to ease compliance, particularly for small and medium-sized exporters, while strengthening Sri Lanka’s overall appeal as a sourcing destination.

The benefits extend beyond apparel. Under the expanded scheme, Sri Lankan exporters can now source inputs from the Asia Regional Cumulation Group an 18-country network while still treating those inputs as Sri Lankan in origin for DCTS purposes. This expanded cumulation facility opens new pathways for diversification and deeper integration into regional and global value chains.

Trade officials see the reforms as more than a technical adjustment. They represent a strategic opportunity to reposition Sri Lanka as a resilient, flexible, and competitive manufacturing hub aligned with modern supply chain realities.

Reflecting this renewed momentum, Chairman and Chief Executive Officer of the Sri Lanka Export Development Board, Mangala Wijesinghe, recently met with British High Commissioner to Sri Lanka, Andrew Patrick, to discuss the enhanced trade prospects under the revised DCTS. Their talks also covered preparations for Sri Lanka Expo 2026 and forthcoming brand promotion initiatives designed to strengthen Sri Lanka’s footprint in the UK market.

As both countries reaffirm their commitment to deeper trade ties, the liberalised DCTS framework is set to play a pivotal role supporting export earnings, job creation, and sustainable industrial growth, while weaving Sri Lanka more tightly into the fabric of UK and global trade

(Source: lankanews.lk)

The Department of Meteorology reported that the lowest temperature in Sri Lanka today (21) was recorded at the Nuwara Eliya weather station, where the mercury dropped to 7.4°C during the early morning hours.

According to the department, Bandarawela experienced a minimum temperature of 11.5°C, while Badulla recorded 15.2°C. In the North Central Province, Mahailuppallama registered a low of 17.4°C during the early hours of the day, and Anuradhapura recorded a minimum temperature of 18.6°C.

The Department of Meteorology noted that minimum temperature readings collected from its regional monitoring stations are illustrated in the accompanying temperature distribution map.

U.S. President Donald Trump said he will impose a 200% tariff on French wines and champagnes, a move he claimed would push French President Emmanuel Macron to join Trump’s Board of Peace initiative aimed at resolving global conflicts.

When asked by a reporter about Macron saying he will not join the board, Trump said, “Did he say that? Well, nobody wants him because he will be out of office very soon.”

“I’ll put a 200% tariff on his wines and champagnes, and he’ll join, but he doesn’t have to join,” Trump said.

France intends to decline the invitation to join the initiative, at this stage, a source close to Macron said on Monday.

Trump originally proposed establishing the Board of Peace when he announced last September his plan to end the war in Gaza. But an invitation sent to world leaders last week outlines a broad role ending conflicts globally.

A draft charter sent to about 60 countries by the U.S. administration calls for members to contribute $1 billion in cash if they want their membership to last more than three years, according to the document seen by Reuters.

Governments reacted cautiously, on Sunday to Trump’s invitation, a plan that diplomats said could harm the work of the United Nations.

On Monday, Trump also said he has invited Russian President Vladimir Putin to be a member of the peace board. “He’s been invited,” Trump said.

Source:adaderana.lk

In a significant crackdown on organized narcotics trafficking, officers from the Gonahena Police Special Task Force (STF) camp successfully intercepted a massive shipment of Crystal Methamphetamine (ICE) in the Nittambuwa area.

The Operation Following a targeted intelligence-led operation, STF personnel conducted a raid in the Pinnagolla Watta area along Araliya Road. During the intervention, a three-wheeler was searched, leading to the discovery of 61.83 kilograms of ICE. The estimated street value of the seized narcotics exceeds Rs. 900 million.

Criminal Affiliations The suspect apprehended at the scene is believed to be a pivotal operative for international and domestic drug syndicates. Investigations have confirmed the suspect maintains active links with:

"Dubai Waruna" and Mohamed Siddiq: Notorious figures operating from overseas.

Dilindu Sanjeewa (alias "Lena"): An organized criminal currently incarcerated.

Ongoing Investigation The suspect and the seized contraband have been handed over for further legal proceedings. The STF and relevant narcotics authorities are currently working to dismantle the broader distribution network connected to this shipment.

The Department of Labour has officially announced the implementation of the revised national minimum wage, marking a significant shift in the compensation landscape for Sri Lanka’s private sector. Effective January 1, 2026, the monthly minimum wage has been elevated to Rs. 30,000, up from the previous Rs. 27,000.

Labour Department Commissioner General Ms. H.M.D.N.K. Wataliyadda confirmed that this adjustment is enacted under the National Minimum Wage of Employees (Amendment) Act No. 11 of 2025.

Statutory Wage Adjustments

The revision establishes a new baseline for both monthly and daily-rated employees. Employers across all industries are now legally mandated to adhere to the following rates:

• National Monthly Minimum Wage: Increased from Rs. 27,000 to Rs. 30,000.
• National Daily Minimum Wage: Increased from Rs. 1,080 to Rs. 1,200.

Expanded Employer Liability and Compliance

A critical component of the Amendment Act is the clarification of employer responsibility, particularly concerning outsourced or contract labor.

According to the Commissioner General, the law now explicitly holds both the immediate employer and the ultimate employer liable for ensuring that workers receive the statutory minimum. This provision aims to protect employees engaged through intermediaries or third-party contractors, ensuring no worker falls through the cracks of complex hiring structures.

Furthermore, the Commissioner General issued a strict directive regarding the composition of the wage:

“Apart from budgetary relief allowances specified under Section 4 of the Act, no other allowances received by employees as of 31 March 2025 may be used to offset or fulfill the minimum wage requirements.”

Integration with Statutory Benefits

The wage hike is expected to have a cascading effect on the total cost of employment, as the “minimum wage” serves as the foundational figure for several statutory calculations. Under the new revision, employers must ensure that payments for the following are adjusted accordingly:

• Employees’ Provident Fund (EPF) and Employees’ Trust Fund (ETF)
• Overtime Pay and Holiday Pay
• Gratuity and Maternity Benefits

Enforcement and Dispute Resolution

To ensure the benefits of the Amendment Act reach the intended workforce, the Department of Labour has streamlined its grievance process.

Employees who find their wages are not in compliance with the new statutory floor are encouraged to seek redress through the Department of Labour’s Complaints Management System (CMS) at cms.labourdept.gov.lk. Alternatively, formal written complaints can be lodged at the nearest regional Labour Office.

The Department of Labour emphasized that strict adherence to these regulations is non-negotiable, as the government seeks to balance industrial productivity with the economic well-being of the private sector workforce.

(Source:lankanews.lk)