Today’s News Digest: Your go-to summary of the key events and headlines that shaped the day. From major developments to breaking news, we bring you everything that happened today, all in one quick and easy read.
Budget 2027: Will these three taxes be reduced tomorrow?
President Anura Kumara Dissanayake is expected to outline possible tax relief measures when he presents the 2027 Budget to Parliament tomorrow (November 12), with PAYE income tax relief, Value Added Tax (VAT) reductions and changes to taxes on books among the key proposals to watch. The President and senior government ministers have made several statements in recent months indicating that certain taxes could be reduced or revised, raising expectations among salaried employees, businesses and the wider public.
Ranil’s Rs. 16.6 million public funds case fixed for December 9
The Colombo Fort Magistrate’s Court has ordered that the case filed by the Criminal Investigation Department (CID) against former President Ranil Wickremesinghe over the alleged misuse of public funds be taken up again on December 9. The order was issued when the case was taken up before the Colombo Fort Magistrate’s Court today (11). Former President Wickremesinghe appeared before court in connection with allegations of misusing more than Rs. 16.6 million in public funds during a visit to the United Kingdom in 2023.
Trincomalee Buddha statue dispute: Arrest warrant issued against Ven. Kassapa Thera
The Trincomalee Magistrate’s Court has issued an arrest warrant against Ven. Balangoda Kassapa Thera for failing to appear before court in connection with a case involving the alleged unauthorised installation of a Buddha statue along the Trincomalee coastline. The warrant was issued by Trincomalee Magistrate M.S.M. Samsudeen when the case was taken up for hearing today (11). The Magistrate ordered that Ven. Balangoda Kassapa Thera be arrested and produced before court. The case relates to alleged unauthorised constructions along the Trincomalee coastline, including the installation of a Buddha statue without the required legal approval.
Nearly 40% of 2025 Budget promises fall short of substantial implementation: Verité Research
Nearly 40% of Sri Lanka’s 2025 Budget proposals fell short of substantial implementation, although the proportion of fully implemented promises reached its highest level since 2017, according to an assessment by Verité Research’s PublicFinance.lk platform. The assessment, published through the Budget Promises dashboard, tracked 36 high-value expenditure proposals from the 2025 Budget, each allocated at least Rs. 500 million, with a combined allocation of Rs. 212.25 billion. According to the findings, 33% of the proposals were fully implemented, while another 8% achieved substantial implementation, bringing the combined total to 41%.
Ravi urges HSBC to reconsider Sri Lanka exit, citing 1,659 jobs at risk
Opposition MP and former Finance Minister Ravi Karunanayake has urged HSBC Holdings plc to reconsider its decision to close its Global Service Centre in Sri Lanka and relocate operations overseas, citing concerns over the future of 1,659 employees.In a letter dated November 9, 2026, addressed to HSBC’s Group Chairman and Group Chief Executive, Karunanayake called for urgent discussions to explore alternatives to the proposed closure of HSBC Electronic Data Processing Lanka. He requested HSBC’s leadership to reopen the decision and engage in time-bound discussions before the planned migration becomes irreversible.