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Minimum Power Tariff Likely to Rise Under New National Electricity Policy

Former Minister Patali Champika Ranawaka has stated that the lowest electricity tariff is expected to rise following the implementation of the government’s new National Electricity Policy.

Addressing the media in Colombo, he explained that financial losses resulting from the import of reportedly low-quality coal to the Norochcholai Coal Power Plant have ultimately placed a burden on electricity consumers.

He emphasized that these losses have contributed to increased costs within the power sector, which may be reflected in future electricity pricing.

Meanwhile, M.D.R. Athula, Chairperson of the Electricity Consumers’ Association, stressed the importance of taking prompt legal measures against those allegedly involved in the coal procurement controversy.

He urged authorities to ensure accountability and transparency in order to protect consumers from further financial impact.

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Sri Lankan Rupee Holds Firm Against US Dollar with Marginal Uptick

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.

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Colombo High Court Fixes April 2 Hearing for Namal Rajapaksa ‘Krrish’ Project Case

The Colombo High Court has announced that the hearing of the case filed against Parliamentarian Namal Rajapaksa in relation to the controversial ‘Krrish’ project will continue on April 2, 2026.

The matter was called before High Court Judge Nadee Aparna Suwandurugoda earlier today for proceedings.

During the court session, Namal Rajapaksa, who is named as the defendant in the case, was present before the judge.

The case concerns allegations linked to the ‘Krrish’ development project agreement, which has drawn significant public and legal attention. Further hearings are expected to continue as scheduled in April.

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Maithree Wickremesinghe Summoned by FCID as Public Funds Probe Continues

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.

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President Dissanayake Meets PM Modi in New Delhi Ahead of AI Summit Address

President Anura Kumara Dissanayake met Indian Prime Minister Narendra Modi yesterday (19) at the Bharat Mandapam in New Delhi, as part of his official visit to attend the AI Impact Summit 2026.

The President is currently in India to participate in the international summit, where he is also expected to deliver a keynote address today.

President Dissanayake traveled from Sri Lanka earlier this week after receiving a special invitation from Prime Minister Modi to attend the high-level event. He arrived in New Delhi on Tuesday (17) to take part in discussions focused on artificial intelligence and its global impact.

The meeting between the two leaders is seen as part of ongoing diplomatic engagement between Sri Lanka and India, alongside participation in the major technology summit.

 
 
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Colombo Stock Exchange Edges Lower as Cautious Trading Keeps Indices Near Record Highs

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.

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Heavy Rain up to 75 mm Expected in Several Provinces; Strong Winds and Mist Also Forecast

Showery weather is expected to affect several parts of the country, particularly in the Uva, Central, and Eastern provinces, as well as the Polonnaruwa district, where rain will occur from time to time.

According to the forecast, certain locations in the Uva province and the districts of Matale, Batticaloa, Ampara, and Polonnaruwa could receive fairly heavy rainfall of around 75 mm.

Meanwhile, the Northern Province and the districts of Anuradhapura and Hambantota are likely to experience multiple periods of showers throughout the day.

Elsewhere across the island, showers or thundershowers may develop in several areas after 1.00 p.m. In addition, fairly strong winds with speeds between 30 and 40 kmph are expected at intervals in the Northern, North-central, and North-western provinces, along with the districts of Matale, Trincomalee, and Hambantota.

Early morning misty conditions are also anticipated in parts of the Central and Sabaragamuwa provinces, as well as in the Galle and Matara districts.

Authorities advise the public to remain vigilant and take necessary precautions to reduce potential risks from sudden strong winds and lightning associated with thundershowers.

 
 
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New $50M Funding Boost to Power Sri Lanka’s 2025–2030 Digital Strategy

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.

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US says it ‘supports’ UK Chagos Islands deal

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

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Ramadan Begins Across Muslim World as Moon-Sighting Dates Vary

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.

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Takaichi reelected as Japan’s prime minister with a goal of pushing to the right

Japanese Prime Minister Sanae Takaichi was reappointed Wednesday by Parliament to form her second Cabinet, following last week’s landslide election win that she hopes will allow a hard-right move to the country’s policies. All previous ministers are expected to be retained.

Takaichi will look to use the symbolism of the day, seen as a formality, to further boost her ruling Liberal Democratic Party as it looks to capitalize on a two-thirds supermajority in the lower house, the more powerful of Japan’s two parliamentary chambers.

Her goals include an increase in military power, more government spending and strengthened conservative social policies.

The power of a supermajority

Having two-thirds control of the 465-seat lower house allows Takaichi’s party to dominate top posts in house committees and push through bills rejected by the upper house, the chamber where the LDP-led ruling coalition lacks a majority.

Takaichi wants to bolster Japan’s military capability and arms sales, tighten immigration policies, push male-only imperial succession rules and preserve a criticized tradition that pressures women into abandoning their surnames.

Her ambition to revise the U.S.-drafted postwar pacifist Constitution might have to wait, for now, as she is facing pressure to deal with rising prices, a declining population and worries about military security. 

Addressing rising prices

Her first urgent task is to address rising prices and sluggish wages and pass a budget bill to fund those measures, delayed by the election.

Takaichi proposes a two-year sales tax cut on food products to ease household living costs.

Experts caution that her liberal fiscal policy could drive up prices and delay progress on trimming Japan’s huge national debt.

Courting Trump

Takaichi is maneuvering for a crucial summit next month with U.S. President Donald Trump, who will visit Beijing in April.

The U.S. president endorsed Takaichi ahead of the Japanese election, and hours before Takaichi’s reappointment as prime minister, U.S. Commerce Secretary Howard Lutnick announced Japan will provide capital for three projects under a $550 billion investment package that Japan pledged in October.

Japan is committed to the $36 billion first batch of projects — a natural gas plant in Ohio, a U.S. Gulf Coast crude oil export facility and a synthetic diamond manufacturing site.

Japan is also under pressure to increase annual defense spending.

“Japan will keep spending more and more for the U.S. ... The question is whether the public wants her to speak out against Trump or be obedient to ensure Japanese security,” said Masato Kamikubo, a Ritsumeikan University professor of policy science. “For China, it’s simple. Japanese people want her to be tough.”

A hawk on China

Takaichi in November suggested possible Japanese action if China makes a military move against Taiwan, the self-governing island that Beijing claims as its own. That has led to Beijing’s diplomatic and economic reprisals.

Many Japanese, frustrated by China’s growing assertiveness, welcomed her comments on Taiwan.

Emboldened by the big election win, Takaichi could take a more hawkish stance with China, experts say.

Takaichi, soon after the election, said she is working to gain support for a visit to Tokyo’s controversial Yasukuni Shrine. Visits to the shrine are seen by Japan’s neighbors as evidence of a lack of remorse for Japan’s wartime past.

A stronger military that spends more and sells more

Takaichi has pledged to revise security and defense policies by December to bolster Japan’s military capabilities, lifting a ban on lethal weapons exports and moving further away from postwar pacifist principles. Japan is also considering the development of a nuclear-powered submarine to increase offensive capabilities.

Takaichi wants to improve intelligence-gathering and establish a national agency to work more closely with ally Washington and defense partners like Australia and Britain.

She supports a controversial anti-espionage law that largely targets Chinese spies. Some experts say it could undermine Japanese civil rights.

Stricter on immigration and foreigners

Takaichi has proposed tougher policies on immigration and foreigners, something that resonates with a growing frustration in Japan.

Her government in January approved tougher rules on permanent residency and naturalization as well as measures to prevent unpaid tax and social insurance.

Promoting traditional family values

Takaichi supports the imperial family’s male-only succession and opposes same-sex marriage.

She is also against a revision to the 19th-century civil law that would allow separate surnames for married couples so that women don’t get pressured into abandoning theirs.

In a step that rights activists call an attempt to block a dual-surname system, Takaichi is calling for a law to allow the greater use of maiden names as aliases instead.

Source:adaderana.lk

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President Dissanayake Holds Talks with US Diplomatic Officials in Delhi

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.

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