Sri Lanka to recruit 30,000 teachers to fix shortages

Friday July 17, 2026 9:32 am ECONOMYNEXT — Sri Lanka will recruit 30,000 new teachers before the end of 2026 under a new subject-based recruitment system to address severe shortages in schools, Public Administration Minister Chandana Abayaratne said. The new system aims to place…

Friday July 17, 2026 9:32 am

ECONOMYNEXT — Sri Lanka will recruit 30,000 new teachers before the end of 2026 under a new subject-based recruitment system to address severe shortages in schools, Public Administration Minister Chandana Abayaratne said. The new system aims to place teachers directly into subjects facing the most critical vacancies, with a strong focus on mathematics. Around 180,000 qualified candidates sat for the competitive recruitment examination held in May. The government expects to complete the hiring process later this year once exam evaluations are finished. “The new recruitment process will prioritize teachers for subjects facing severe shortages, particularly Mathematics,” Abayaratne said. Beyond teacher shortages, the minister said the government is planning to resolve ongoing issues within the Principal Service and upgrade infrastructure across schools. As part of these development efforts, the government will expand its Mobile Library programme and set up a permanent library facility for the Karukkumaduwa Junior School. (Colombo/Jul17/2026)

Thursday July 16, 2026 11:09 pm

ECONOMYNEXT – Sri Lanka has sold 15,000 million rupees of bonds offered on tap at average rates set at an auction this week, bringing the total of bonds sold in the week to 165 billion, data from the Public Debt Management Office showed. The issue offered 150 billion rupees. The debt office sold a 15 October 2030 maturity bond (LKB00730J158) at a weighted average yield rate of 11.57 percent. The debt office sold a 15 October 2034 maturity bond (LKB00934J156) at a weighted average yield rate of 12.04 percent. The debt office sold a 01 July 2037 maturity bond (LKB01237G019) at a weighted average yield rate of 12.58 percent. Total market subscription was 15,155 million rupees. On Monday, 150 billion rupees in 2030, 2034 and 2037 bonds were sold. Sri Lanka sells Rs150bn in 2030, 2034 and 2037 bonds (Colombo/Jul16/2026)

Thursday July 16, 2026 6:00 pm

ECONOMYNEXT – Sri Lanka’s rupee closed at 336.25/35 to the US dollar in the spot market on Thursday, from 336.30/40 the previous day, while bond yields closed broadly steady, dealers said. The telegraphic transfer rate for the dollar was 331.80 buying, 340.80 selling; the euro was 377.8715 buying, 391.7885 selling; and the pound was 447.7701 buying, 461.8157 selling. A bond maturing on 15.09.2027 closed at 10.30/40 percent, down from 10.40/50 percent. A bond maturing on 15.12.2029 closed at 11.05/20 percent down from 11.10/20 percent. A bond maturing on 15.05.2030 closed flat at 11.40/50 percent. A bond maturing on 01.08.2030 closed at 11.50/58 percent, up from 11.50/55 percent. A bond maturing on 15.10.2030 closed at 11.60/63 percent, up from 11.56/60 percent. A bond maturing on 15.06.2034 closed at 12.10/15 percent, up from 12.05/10 percent. A bond maturing on 01.07.2037 closed at 12.60/70 percent, up from 12.55/60 percent. (Colombo/Jul16/2026)

Thursday July 16, 2026 4:09 pm

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange indices closed up on Thursday, CSE data showed, with the benchmark All Share Price Index moving up 0.14 percent. The ASPI was up 29.77 points at 21,447.57, while the more liquid S&P SL20 was up 0.29 percent, or 17.45 points, at 6,006.07. Positive contributors to the ASPI were Dialog Axiata (up 1.83 percent at 44.40 rupees), Central Finance Company (up 1.85 percent at 220.00 rupees), John Keells Holdings (up 0.50 percent at 20.00 rupees), C.T Holdings (up 2.36 percent at 520.00 rupees), and Digital Mobility Solutions Lanka (up 1.37 percent at 166.00 rupees). Cargills (Ceylon) (down 1.43 percent at 639.25 rupees), Hatton National Bank (down 0.26 percent at 389.00 rupees), Teejay Lanka (down 2.87 percent at 30.50 rupees), and Colombo Dockyard (down 1.02 percent at 121.25 rupees) were top negative contributors. Market turnover was 1.49 billion rupees. Banks led turnover with 74.9 million rupees. Bukit Darah announced a first interim dividend of 5.73 rupees per ordinary share for the financial year ending March 31, 2027, totaling 584.5 million rupees, with the entitlement date set for July 27, 2026. The dividend will be paid entirely out of dividend income and will not be subject to withholding tax. Bukit Darah shares were trading down 0.12 percent at 848.00 rupees. (Colombo/July16/2026)

Thursday July 16, 2026 2:31 pm

ECONOMYNEXT – Sri Lanka’s services sector expanded in Jun 2026, according to a Purchasing Managers Index compiled by the central bank which registered an index value of 58.5, compared to 56.9 the previous month. “Growth was primarily driven by the financial and professional services sub-sectors, alongside notable gains in the insurance sector,” CBSL said. Business activity expanded in June 2026, supported by broad sectoral improvements, the central bank said. New businesses increased in the month, driven by the financial services sector. “The insurance, professional services, and other personal services sectors also contributed to the expansion.” Employment increased as companies expanded their workforce. Backlogs of work, which had been falling in May, held steady in June as the index reached the neutral threshold. “Expectations for business activity for the next quarter remained positive, driven by anticipated surge in tourist arrivals, partly driven by the upcoming Kandy Esala Perahera season. However, broader global uncertainties still pose risks to the outlook.” (Colombo/Jun16/2026)

Thursday July 16, 2026 2:17 pm

ECONOMYNEXT – Sri Lanka’s manufacturing sector expanded at a slower pace in June, registering a value of 53.0 on a Purchasing Managers Index compiled by the central bank, compared to 56.6 the previous month. “This indicates continued expansion in manufacturing activities, albeit at a slower pace than the previous month,” CBSL said. However, broader global uncertainties still pose risks to the outlook, it added, mainly the challenging environment associated with the unrest in West Asia. The New Orders sub-index remained at the neutral threshold registering 50.0, broadly unchanged from the previous month’s 52.6. The Production sub-index continued to expand, driven by the manufacture of food and beverages sector, CBSL said. The Employment sub-index also remained around the neutral threshold, indicating hiring trends similar to those in the previous month. “However, many respondents cited persistent skilled labour shortages and rising labour costs as key challenges.” Stock of Purchases also increased further, reflecting firms’ efforts to build inventory amid a volatile supply environment. Suppliers’ Delivery Time continued to lengthen in June. (Colombo/Jul15/2026)

Thursday July 16, 2026 2:00 pm

ECONOMYNEXT — The Colombo Municipal Council (CMC) has slashed its entertainment tax across all categories, including a sharp reduction for local concerts, in an effort to revitalize the capital’s cultural and creative industries. The relevant Gazette notification has now been issued after the proposal was approved through the 2026 Budget, Colombo Mayor Vraîe Cally Balthazaar said. “One of the requests we received when we took office was a simple one. The Governor asked us to create more opportunities for the people of Colombo to enjoy entertainment, culture, and sport,” Balthazaar said. Under the revisions, the entertainment tax slapped on local concerts has been lowered from 12 percent down to 7 percent. Mayor Balthazaar stated that the policy change followed a direct request from the Governor to open up the city for more public engagement. Following the tax cut, the municipal administration has called on event creators to ensure the financial relief trickles down to the public. Organizers are being encouraged to adjust their pricing structures to make commercial entertainment more accessible to a wider audience. “We hope this benefit doesn’t stop with the industry, but reaches the people too. Wherever possible, we encourage organisers to reflect this tax reduction in their ticket prices, making concerts and events more affordable for more people,” the Mayor added. The local government expects the lower tax rates to act as a buffer for local artists and the broader creative sector, while pushing Colombo to become a more active cultural hub.

Balthazaar noted that the city’s development should look beyond basic infrastructure, emphasizing that shared social experiences remain vital to urban life. (Colombo/Jul16/2026)