President pays tribute to Sri Lankan icon Malini Fonseka

Monday May 26, 2025 11:29 am

ECONOMYNEXT – The late veteran actress Malini Fonseka’s contributions shaped the country’s cinema, Sri Lanka President Anura Disanayake has said.

Disanayake paid his respects to the late actress at the Tharangani Theatre Hall of the National Film Corporation, where her remains lie in state.

He hailed Fonseka as “a revered icon whose contributions profoundly shaped and elevated Sri Lankan cinema,” according to a statement by his media division.

He “emphasised her enduring legacy” and noted “her influence on generations of performers and filmmakers”.

Fonseka is widely considered the queen of Sinhala cinema.

She died on Saturday after suffering from an illness.

The government later announced her funeral will be held with state honours on Monday (26), at the Independence Square.

Disanayake’s government had previously named and shamed the veteran actress in parliament as a beneficiary of the President’s Fund. (Colombo/May26/2025)

Monday May 26, 2025 1:02 pm

ECONOMYNEXT – Ambassador designate of Israel to Sri Lanka Reuven Javier Azar has met Sri Lanka speaker Jagath Wickramaratne at the parliament premises to discuss expanding cooperation, amidst its ongoing genocide against the Palestinians.

“The discussion focused on expanding cooperation between Sri Lanka and Israel in key sectors, including tourism, agriculture, science, digital technology, trade and investment and medical fields,” the Parliament said in a statement.

Azar also “emphasized the importance of revival of the Sri Lanka-Israel Parliamentary Friendship Association in the near future, as a means to further strengthen bilateral relations between the two nations”.

Israel is conducting a genocide against the Palestinians, international organisations have said, and sending Sri Lanka’s workers to support Israel’s diminished workforce, sometimes in building illegal Israeli settlements, could be seen as aiding and abetting genocide.

In October, an Israeli attack at the headquarters of United Nations Interim Force in Lebanon (UNIFIL) injured two Sri Lankan UN peacekeepers. (Colombo/May26/2025)

Monday May 26, 2025 12:20 pm

ECONOMYNEXT – An Asian regional group meeting, attended by IMF and WB representatives, has discussed financial system stability and efforts to enhance cross-border payments, Sri Lanka’s central bank said.

The central bank hosted the Financial Stability Board (FSB) Regional Consultative Group for Asia (RCG Asia) on May 22 in Colombo.

“The discussions at the meeting covered a broad range of issues relevant to financial system stability,” the monetary authority said in a statement.

“Key topics included global and regional financial vulnerabilities, efforts to enhance cross-border payments, developments and risks associated with non-bank financial intermediation, and regulatory reforms relating to securitisation markets.”

Members shared experiences, identified potential risks, and explored collaborative approaches to strengthen financial resilience across the region, it said.

The meeting was co-chaired by central bank governor Nandalal Weerasinghe and Hong Kong Monetary Authority chief executive Eddie Yue.

Representatives from Australia, Brunei Darussalam, Cambodia, China, Hong Kong SAR, India, Indonesia, Japan, Korea, Malaysia, Pakistan, Philippines, Singapore, Sri Lanka, Thailand, and Vietnam participated.

Representatives from FSB, International Monetary Fund and the World Bank also attended. (Colombo/May26/2025)

Monday May 26, 2025 10:06 am

ECONOMYNEXT – Sri Lanka’s rupee opened at 299.30/40 to the US dollar in the spot market Monday, stronger against Friday’s close of 299.40/45, dealers said, while bond yields were slightly down.

A bond maturing on 15.12.2026 was quoted at 8.40/50 percent.

A bond maturing on 01.05.2027 was quoted at 8.80/90 percent.

A bond maturing on 15.09.2027 was quoted at 9.00/10 percent.

A bond maturing on 15.02.2028 was quoted at 9.40/50 percent.

A bond maturing on 15.12.2029 was quoted at 10.00/05 percent.

A bond maturing on 15.03.2031 was quoted at 10.40/50 percent. (Colombo/May26/2025)