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Sri Lanka’s latest attempt to reclaim wealth illicitly moved overseas has triggered cautious optimism, but experts warn that the path ahead is riddled with legal, political, and bureaucratic hurdles. While international partners such as the Stolen Asset Recovery Initiative (StAR) have pledged technical support, the effectiveness of the campaign will ultimately depend on the country’s own governance reforms.

For years, stolen-asset recovery has remained a politically sensitive issue in Sri Lanka. Successive governments have announced high-profile investigations, but few have resulted in actual retrieval of funds. A lack of evidence, missing documentation, weak case-building, and deliberate obstruction by politically exposed persons (PEPs) have all contributed to repeated failures.

The arrival of StAR support is expected to boost credibility, but experts note that global assistance alone cannot compensate for domestic institutional weaknesses. Sri Lanka’s fragmented investigative system  with the Bribery Commission, Police, FIU, and AG’s Department working in silos  has historically slowed progress.

The proposed inter-agency task force may help unify operations, but its effectiveness will rely heavily on clear mandates and political insulation.

A more challenging barrier lies in international legal procedures. Many foreign jurisdictions, particularly in Europe and the Middle East, require extensive, meticulously documented proof linking assets to criminal conduct.

 Sri Lankan agencies have struggled to meet these evidentiary standards due to years of poor record-keeping, slow prosecutions, and incomplete asset declarations.

Compounding this problem is the lack of political continuity. Asset recovery initiatives often lose momentum when governments change. Investigations into politically sensitive figures are frequently abandoned, raising concerns about selective enforcement and undermining investor confidence.

Furthermore, domestic legislation itself requires strengthening. While the Proceeds of Crime Recovery Act is a step forward, lawyers argue that the Anti-Corruption Act and Assets and Liabilities Act must be updated to improve asset disclosure, protect whistleblowers, and enable faster freezing orders. Without these reforms, Sri Lanka may not be able to meet international cooperation requirements.

Despite these challenges, the current push comes at a time when the country urgently needs revenue. With public debt high and recovery from natural disasters ongoing, even partial asset repatriation could provide relief. Civil society organisations stress that genuine asset recovery must prioritize transparency, non-selective investigations, and consistent enforcement.

Whether Sri Lanka can finally break the cycle of unfulfilled promises remains to be seen. But with renewed global support and growing public demand for accountability, the country faces a crucial test in its fight against corruption.

The search for missing Malaysia Airlines Flight MH370 will resume on December 30, Malaysia's transport ministry said on Wednesday, more than a decade after the Beijing-bound flight disappeared in one of the world's greatest aviation mysteries. Flight MH370, a Boeing 777, was carrying 227 passengers and 12 crew when it vanished en route from Kuala Lumpur to Beijing in 2014. Multiple search operations for the plane have been conducted since then but all proved fruitless.

The most recent search in the southern Indian Ocean was suspended in April after just a few weeks due to poor weather conditions. Exploration firm Ocean Infinity has confirmed it would recommence seabed operations for 55 days, conducted intermittently, the transport ministry said. "The search will be carried out in targeted area assessed to have the highest probability of locating the aircraft," it said in a statement. No precise location of the search area has been given. Malaysian investigators initially did not rule out the possibility that the aircraft had been deliberately taken off course. Debris, some confirmed and some believed to be from the aircraft, has washed up along the coast of Africa and on islands in the Indian Ocean.

The resumed search will be in accordance with the terms and conditions agreed upon between the government and Ocean Infinity for restarting the MH370 wreckage search, the ministry said. Malaysia will pay the firm $70 million if substantive wreckage is found during the search on the seabed of an area in the southern Indian Ocean covering 15,000 sq km (5,790 sq miles). Ocean Infinity had conducted prior searches for the plane up until 2018 but failed to find substantive wreckage. A 495-page report into the disappearance in 2018 said the Boeing 777's controls were likely deliberately manipulated to go off course, but investigators could not determine who was responsible and stopped short of offering a conclusion on what happened, saying that depended on finding the wreckage. Investigators have said there was nothing suspicious in the background, financial affairs, training and mental health of both the captain and co-pilot.

More than 150 Chinese passengers were on the flight. Others included 50 Malaysians as well as citizens of France, Australia, Indonesia, India, the United States, Ukraine and Canada, among others. Relatives have demanded compensation from Malaysia Airlines, Boeing, aircraft engine maker Rolls-Royce and the Allianz insurance group, among others.

(Source - reuters)

Sri Lanka’s economic recovery already strained by two years of contraction, rising living costs, and fiscal compression has been dealt a severe new blow by Cyclone Ditwah and the resulting floods.

As the Government grapples with nationwide devastation, the Finance Ministry yesterday convened a high-level donor forum bringing together bilateral partners, multilateral institutions, lending agencies, and diplomatic missions to coordinate emergency support and chart the path toward reconstruction.

Co-chaired by Central Bank Governor Dr. Nandalal Weerasinghe and Treasury Secretary Dr. Harshana Suriyapperuma, the forum revealed the scale of damage across housing, agriculture, transport, irrigation systems, and community infrastructure.

Preliminary internal assessments indicate that Sri Lanka may face losses equivalent to 1%–3% of GDP, suggesting a reconstruction requirement in the range of Rs. 350-1,050 billion a figure that could rise once comprehensive ground surveys conclude. Several districts remain inaccessible, further delaying robust verification of economic and social losses.

Given Sri Lanka’s limited fiscal space and stagnant revenue streams, external support has become indispensable. Development partners reaffirmed strong backing, with the IMF confirming that US$350 million under the Extended Fund Facility’s sixth tranche could be made available within two weeks providing crucial liquidity for imports and early-stage restoration.

 Multilateral agencies and donor nations have begun dispatching relief consignments, including food, drinking water, hygiene supplies, medical kits, and emergency shelter materials. Some countries have already deployed specialist disaster-response teams.

The World Bank has initiated a rapid damage assessment, while development partners agreed to repurpose portions of existing loan portfolios toward bridge repairs, road rehabilitation, irrigation restoration, and housing reconstruction.

 Discussions also focused on mobilising new concessional financing and grant support for long-term rebuilding.

The Government urged partners to promote travel to Sri Lanka to help stabilise tourism, which is likely to experience short-term disruption following widespread flooding.

Authorities emphasised the need for a blend of immediate humanitarian assistance and medium-term concessional financing to prevent a derailment of the broader economic recovery plan.

Despite the growing support, the road ahead is steep. Rebuilding thousands of homes, restoring agricultural losses, repairing national highways and rural roads, and replacing damaged public facilities will require a multi-year programme and billions of rupees in investment.

 Effective coordination, transparent spending frameworks, and robust monitoring will be critical to maintaining donor confidence.

As Sri Lanka navigates yet another crisis layered upon economic fragility, international partners have signalled solidarity. The challenge now lies in converting this support into a coherent, well-governed reconstruction programme capable of restoring livelihoods and preventing deeper economic scarring.

Israeli forensic services concluded that remains handed over by Hamas on Tuesday were not those of the last two hostages in Gaza, the office of Israel's prime minister said.

Hamas had handed over remains described by the Red Cross as those of one of the last two deceased hostages still in Gaza, in line with commitments made under a U.S.-backed October ceasefire deal.

Israeli forces said they sent for forensic testing the remains they described as "findings".

"The findings brought yesterday for examination from the Gaza Strip are not linked to any of the deceased hostages," Prime Minister Benjamin Netanyahu's office said in a statement on Wednesday.

The identification had been made at the National Center for Forensic Medicine, it added.

The Al Quds Brigades - the armed wing of the Hamas-allied Palestinian Islamic Jihad movement - said later on Wednesday it was searching for a body of a hostage in northern Gaza, along with a team from the Red Cross.

It did not say which of the two remaining deceased hostages it was searching for.

The two are Israeli police officer Ran Gvili and Thai national Sudthisak Rinthalak, both kidnapped during Hamas' October 7, 2023 attack on Israel that touched off two years of devastating war in Gaza.

The Geneva-based Red Cross has acted as an intermediary between Gaza militant groups and Israel throughout the war triggered by Hamas' attack, helping to pave the way for the release of living hostages and the handover of remains.

(Source - reuters)

Russian President Vladimir Putin challenged heavy US pressure on India not to buy Russian fuel if the US could do so as he began a two-day state visit on Thursday (Dec 4), where he was embraced on arrival by Indian Prime Minister Narendra Modi.

Putin spoke in comments to Indian broadcaster India Today, aired hours after landing in New Delhi for a visit during which both countries are seeking to boost mutual trade and expand the variety of items in transactions.

Putin’s first visit to India in four years aims to increase sales of Russian oil, missile systems and fighter jets and widen business links beyond energy and defence equipment, amid US pressure on India to shun Moscow over its invasion of Ukraine.

“US BUYS NUCLEAR FUEL FROM RUSSIA”

New Delhi and Moscow have strong ties going back to the days of the former Soviet Union, and Russia has been the main source of arms for India for decades. 

India has also emerged as the top buyer of seaborne Russian oil despite Western sanctions imposed after Moscow launched its invasion of Ukraine in February 2022.

India’s crude imports, however, are set to hit a three-year low this month following a punitive US tariff on Indian goods and a tightening of sanctions on Russia, as US President Donald Trump’s administration says India’s purchases of cheap Russian oil help finance Moscow’s war in Ukraine.

“The United States itself still buys nuclear fuel from us for its own nuclear power plants. That is also fuel,” Putin told India today.

“If the US has the right to buy our fuel, why shouldn’t India have the same privilege? This question deserves thorough examination, and we stand ready to discuss it, including with President Trump,” he said.

India has said Trump’s tariffs are unjustified and unreasonable and pointed at ongoing US trade with Moscow. The US and European Union continue to import billions of dollars worth of Russian energy and commodities, ranging from liquefied natural gas to enriched uranium.

“RUSSIA-INDIA OIL TRADE RUNNING SMOOTHLY”

“There is a certain decline in overall trade turnover during the first nine months of this year,” Putin said when asked if Indian oil purchases had fallen under pressure from the West.

“This is just a minor adjustment. Overall, our trade turnover stands almost at the same level as before.”

He added: “Trade in petroleum products and crude oil ... Russian oil, is running smoothly in India.”

Asked how India and Russia should deal with Trump and his tariffs, Putin said the US President has advisers who believe that implementing such tariff policies ultimately benefits the US economy. 

“We hope that, in the end, all violations of World Trade Organisation regulations will be rectified,” he said.

MODI GIVES WARM WELCOME TO PUTIN

Hours earlier, Modi received Putin at the airport in Delhi, a rare gesture underlining the warm ties between the leaders.

They embraced on a red carpet on the tarmac and then drove away in the same vehicle for a private dinner hosted by Modi.

Senior Russian ministers and a large Russian business delegation were in New Delhi for Putin’s visit and the two leaders will hold summit talks on Friday when they are expected to announce a raft of deals.

“Delighted to welcome my friend, President Putin to India. India-Russia friendship is a time-tested one that has greatly benefited our people,” Modi posted on X ahead of the dinner.

OBJECTIVE TO EXPAND, DIVERSIFY TRADE

India and Russia aim to raise two-way trade to US$100 billion by 2030. Their commerce rose more than five-fold from about US$13 billion in 2021 to near US$69 billion in 2024-25, almost entirely driven by Indian energy imports.

Bilateral trade eased to US$28.25 billion in April-August 2025, reflecting a decline in crude oil imports.

At the same time, India is looking for new destinations to increase exports of its goods hit by the punishing 50 per cent tariff imposed by Trump.

Russia wants to import more Indian goods to balance bilateral trade, which is currently heavily skewed towards energy, Deputy Kremlin Chief of Staff Maxim Oreshkin told a business conference in New Delhi earlier on Thursday.

Indian Trade Minister Piyush Goyal said New Delhi wants to diversify exports to Russia and increase sales of automobiles, electronics goods, data-processing equipment, heavy machinery, industrial components, textiles, and foodstuffs.

( Source : adaderana.lk)

The National Water Supply and Drainage Board (NWSDB) has assured the public that drinking water quality across the country remains safe, despite the extensive flooding and landslides triggered in recent days.

According to NWSDB Chairman Chandana Bandara, continuous water supply has been ensured in 13 of the 22 disaster-affected districts. He added that routine water quality monitoring has been strengthened, and no contamination risks have been detected so far.

The board also noted that efforts are underway to restore supply in the remaining districts experiencing disruptions due to damaged infrastructure and restricted access.

Akuressa has logged the highest rainfall in the country over the past 24 hours, with 125 mm recorded in the area near the Nilwala River, according to L.S. Sooriyabandara, Director of Irrigation (Hydrology & Disaster Management).In a statement issued this morning (05), he noted that rainfall reported from other regions remained within normal limits, and that river levels across the island have not shown any significant increase.

The Irrigation Department also confirmed that major reservoirs are operating within their usual spill levels, with no unusual overflow reported so far.

With more rain expected in the coming days, authorities plan to issue updates based on data gathered from monitoring stations across each river basin. The public has been advised to remain calm and to rely solely on verified information from official channels rather than circulating rumours.

Almost 1,500 bus journeys operated by the Sri Lanka Transport Board (SLTB) have been cancelled as widespread roadblocks and flooding continue to affect several regions following Cyclone Ditwah. According to the service provider responsible for SLTB seat reservations, around 15,000 passengers had pre-booked seats on the now-cancelled services.

The reservation agency confirmed that affected passengers will be permitted to select a new travel date of their choice without incurring additional charges. Commuters seeking to amend their bookings may contact the SLTB through the hotline 1315 or via 070 3110 506.

While bus services to several destinations -including Nuwara Eliya, Nawalapitiya, Walapane, Muttur, Jaffna (Route 87), and Bible—remain suspended, operations on other routes have resumed. Seat reservations for those active routes are now open again, the SLTB added.

The Parliament’s Department of Communication announced that the third reading vote on the 2026 Appropriation Bill - Sri Lanka’s 80th national budget - will be conducted this evening (05) at 6 p.m.

President Anura Kumara Dissanayake, serving as Minister of Finance, delivered the second reading of the 2026 Budget in Parliament on November 7, 2025. The proposal received approval during the vote held on November 14, securing a majority of 118 votes. A total of 160 MPs supported the Budget, while 42 voted against it and eight members chose to abstain.Although the third reading debate was allotted 17 days, parliamentary sittings were interrupted multiple times due to severe weather across the country.

Additionally, the Parliamentary Communication Department confirmed that a supplementary estimate has been submitted to allocate relief funds for those affected by Cyclone ‘Ditwah’.

The National Water Supply and Drainage Board (NWSDB) has announced significant progress in restoring water infrastructure damaged by the recent extreme weather. Out of 343 water pumping stations nationwide, 156 experienced either full or partial damage, and 126 of those have now been brought back into operation, NWSDB Chairman Chandana Bandara confirmed.

Repair work is ongoing at approximately 30 additional stations. Bandara added that the Meewathura pumping station is expected to resume functioning within the day, enabling the restoration of water supply to Pilimathalawa and Geli Oya.

Water distribution to Kandy city has also recommenced, though at reduced capacity initially. However, arrangements are already in place to ensure uninterrupted supply to the Kandy and Peradeniya hospitals.

Restoration efforts are underway at the Katugastota pumping station as well, with the NWSDB anticipating full water distribution once all remaining non-operational stations are repaired in the coming days. The Board is working closely with the Road Development Authority and other relevant agencies to access areas where floods and road obstructions have hindered repairs.

Meanwhile, the Office of the Commissioner-General of Essential Services reports that 387,964 out of 2,947,833 domestic water connections remain disconnected. The districts with the highest proportion of unresolved disruptions are Kandy (66.8%), Kegalle (75.09%), Kurunegala (41.34%), and Puttalam (52.82%).

The Department of Meteorology reports that the Northeast monsoon is gradually settling over Sri Lanka, bringing increased rainfall to several parts of the island.

According to the forecast, intermittent showers are expected throughout the day in the Northern, North-Central, Eastern and Uva provinces, as well as in the Matale district. Other regions are likely to see showers or thundershowers developing after 1:00 p.m.

Rainfall exceeding 75 mm is possible in isolated locations within the Western and Sabaragamuwa provinces, along with the Galle and Matara districts.

Early morning mist is also anticipated in areas of the Western, Central, Sabaragamuwa, Uva and North-Central provinces, as well as the Kurunegala district.

The Meteorology Department has advised the public to take necessary safety measures to minimize risks associated with sudden strong winds and lightning during thundershowers.

The government has decided to provide financial assistance of Rs. 25,000 to each student whose education has been disrupted by the recent floods and landslides. According to the President’s Media Division, the support will be disbursed through the President’s Fund.

This initiative is intended to help affected children meet their immediate educational needs, including replacing school materials and other essentials lost during the disaster.