Friday, February 27, 2026

Nations Trust Bank records a strong FY2025 with a PAT of LKR 19.3 bn

Nations Trust Bank PLC (NTB) delivered a strong end to the financial year, reporting robust financial results for the 12 months ending 31 December 2025, with a Profit After Tax (PAT) of LKR 19.3Bn, reflecting a 15% yearonyear growth. The Bank’s performance was driven by healthy asset growth, resilient Net Interest Margins (NIMs) and disciplined risk management, reflected in a low Net Stage 3 Ratio of 0.91%. A strong capital base underpinned this momentum, with a Return on Equity (ROE) of 21.86%, highlighting the Bank’s strategic success and its readiness to pursue the next phase of growth.

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Trump health fears soar as Republicans reveal concerns - 'he's become erratic with age'

The US President has been accused by critics of slowing down in his old age and declining mentally.

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Thursday, February 26, 2026

Coal, sweets and bitter reality

Friday 27th February, 2026

Three teenage girls from a children’s home in Kalutara have been arrested for breaking into a canteen and making off with a stock of confectionery worth Rs. 40,000. Upon being informed of the theft, the police lost no time in recovering the sweets and making arrests. Those who conducted the ‘raid’ posed for photographs with the recovered items and released them to the media. Such is their selective efficiency.

One may recall that some years ago, the police arrested a small schoolgirl in Kalutara for stealing a few coconuts. In the same district, a little girl was taken into custody for stealing a five-rupee coin. If only the long arm of the law dealt with the politically backed perpetrators of serious crimes in a similar manner.

The three girls arrested for stealing sweets may have thought that in a country where people get away with grand thefts, their offence would go unnoticed. The incumbent government tells us that its political rivals stole colossal amounts of state funds while in power, but no legal action has been taken against most of them. Worse, the corrupt politicians in the Opposition have embarked on a crusade against corruption.

Worryingly, the incumbent government, which has undertaken to eliminate bribery and corruption and restore the rule of law, is led by a party with a history of terrorism, extortion, armed robberies and wanton destruction of state assets. A Cabinet minister has had the audacity to boast that he and his ‘comrades’ destroyed transformers, etc., in the late 1980s. He has sought to romanticise such acts of terrorism which are nonbailable transgressions under the Offences Against Public Property Act. Strangely, no action has been taken against him or his colleagues on the basis of his confession. If such crimes had been investigated properly during previous governments, some of the ruling party politicians who indulge in moral grandstanding would have been behind bars.

It has now been revealed that the procurement of eight shipments of substandard coal has caused a staggering loss of Rs. 8 billion to the state coffers. The coal supplier is said to be a company blacklisted for selling substandard rice to Sathosa. The corrupt coal tender has not been cancelled.

The present-day rulers, who came to power vowing to eliminate bribery and corruption, are now in overdrive, trying to justify losses caused by low-grade coal imports and shield the racketeers. Substandard medicines imported after the 2024 regime change have not only caused massive losses to the state but also snuffed out several lives in government hospitals. Much has been spoken in Parliament about corrupt procurement deals in Sathosa under the current dispensation. Curiously, no arrests have been made.

What was made out to be a new beginning in late 2024 has turned out to be another false dawn. The champions of good governance have been exposed for corruption and abuse of power.

The current rulers claim to be on a mission to restore the rule of law in keeping with one of their main campaign promises. That no doubt is a noble goal that must be achieved. However, mere rhetoric won’t do. They have to back up their words with deeds.

The least the government can do to convince the public that it is serious about fulfilling its pledge to restore the rule of law is to ensure that the police deal with the corrupt elements in both the Opposition and the government in the same way as they did in the case of the three girls who stole sweets in Kalutara.

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Donald Trump reveals 'great news for America' as he issues major White House update

The US president took to Truth Social to make the announcement.

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Wednesday, February 25, 2026

CEB unions to launch strike today, warn of escalation over dissolution move

Trade unions of the Ceylon Electricity Board (CEB) will launch a six-hour token strike today (26 February) from 12:00 noon to 6:00 p.m., marking a dramatic escalation in their confrontation with the government over what they describe as an attempt to dissolve and unlawfully restructure the country’s power utility.

Union leaders said the strike was inevitable after authorities failed to respond to their eight core demands and amid mounting reports that a Gazette notification to liquidate the CEB is imminent.

The dispute has been simmering for weeks. Earlier, the unions cautioned the government that they would resort to trade union action immediately after the conclusion of the GCE Ordinary Level examinations if satisfactory solutions were not forthcoming.

They insisted that they deliberately delayed action in consideration of students sitting the national examination, but warned that their patience should not be mistaken for weakness.

At the heart of the crisis is the proposed restructuring of the CEB, which unions allege is being pushed through without transparency, stakeholder consultation, or a clear national energy policy framework. They argue that the move amounts to a backdoor dissolution of the Board under the guise of reform.

“If a wrong and unlawful decision is taken to restructure or dissolve the CEB without listening to our demands, we will be compelled to act within 48 hours — even unwillingly,” union representatives warned earlier this week.

The unions further charged that employee rights, job security, and national energy sovereignty are being jeopardized. They contend that restructuring without first establishing a coherent and publicly debated energy policy could destabilize the country’s electricity supply and open the door to arbitrary decision-making.

Tensions escalated further after employees, who applied for the CEB’s Voluntary Retirement Scheme (VRS), claimed that the CEB Chairman had indicated a Gazette notification announcing the dissolution of the Board would be issued on February 28. Union leaders described this as a “serious and irreversible step” that could fundamentally alter the structure of Sri Lanka’s power sector.

While today’s action is limited to six hours, trade union leaders made it clear that this is only the beginning. They warned that if the government proceeds with gazetting the dissolution or continues to ignore their demands, stronger and more prolonged industrial action would follow without further notice.

With the strike now underway, the standoff has entered a decisive phase, raising serious concerns over the stability of the national grid and the future direction of Sri Lanka’s energy sector.

By Ifham Nizam

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Tuesday, February 24, 2026

Japanese firms signal expansion drive amid reform push — JETRO

More than half of Japanese companies operating in Sri Lanka are planning to expand their businesses over the next two years, reflecting renewed investor confidence as the country stabilises its economy, according to the latest survey by the Japan External Trade Organization (JETRO).

Hiroki Oi, Resident Representative of JETRO Colombo Office, said the findings indicate a steady recovery in sentiment among Japanese investors.

“The share of Japanese companies in Sri Lanka planning expansion has risen to 51.6%. This marks a significant increase from 36.7% in 2024, 25% in 2023 and just 9.5% in 2022,” Oi said, presenting the 2025 Survey on Business Conditions of Japanese-Affiliated Companies Overseas.

He noted that expansion intentions have increased for three consecutive years, signalling that Japanese firms are taking a longer-term view of Sri Lanka’s potential.

At the same time, operating profit expectations show cautious optimism. According to the survey, 39.3% of Japanese companies expect operating profit to increase in 2025 compared to 2024, while 50% expect no change and 10.7% anticipate a decrease.

For 2026, the share expecting an increase rises further, while those forecasting a decline drops.

However, profitability levels remain a concern. Only 46.4% of Japanese firms in Sri Lanka expect to record profits in FY2025 — unchanged from the previous year — while 39.3% foresee losses.

“Sri Lanka needs to improve profitability to remain competitive with neighbouring countries,” Oi stressed, pointing out that several regional markets report higher shares of profitable Japanese affiliates.

Japanese companies in Sri Lanka operate across diverse sectors including manufacturing, construction, trade and finance, logistics, tourism, healthcare and IT.

Japan remains the largest export destination for Japanese-affiliated companies based in Sri Lanka, accounting for 43.9% of exports, followed by Europe at 13.4% and the United States at 12.1%.

The survey also highlights both strengths and risks in the local investment climate. Companies cited fewer linguistic and communication barriers (56.7%) and relatively low labour costs (40%) among the key advantages of operating in Sri Lanka.

Market scale and growth potential were also viewed positively.

Yet concerns persist. Political and social instability was identified as the top risk by 83.3% of respondents, followed by unclear policy management by local authorities (60%) and underdeveloped legal systems (46.7%). Time-consuming tax and administrative procedures were also flagged as significant operational hurdles.

Oi emphasised that policy clarity and administrative efficiency will be crucial to sustaining investor confidence.

“Clear, transparent and consistent policy management, along with improvements in administrative procedures, will further enhance Sri Lanka’s attractiveness as an investment destination,” he said.

As Sri Lanka advances its reform agenda, the survey suggests that while Japanese firms remain watchful on profitability, a majority are prepared to deepen their engagement — provided stability and structural improvements continue.

“The steady rise in expansion intentions demonstrates that Japanese companies recognise Sri Lanka’s long-term potential,” Oi observed. “The challenge now is to convert that potential into sustained profitability and competitiveness.”