Economic Pressures Mount Amidst Fuel Hikes and Tariff Decisions; US-Iran Tensions Ease, Tamil Nadu Sees New Leadership

Internationally, US President Donald Trump has temporarily suspended 'Project Freedom', aimed at reopening the Strait of Hormuz, to finalize an agreement with Iran, though the naval blockade remains

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. Iranian Foreign Minister Araghchi is in Beijing, updating China on peace talks and accepting a four-point proposal for conflict resolution

. In India, Actor Vijay's Tamizhaga Vetri Kazhagam (TVK) has won the Tamil Nadu elections with 108 seats, with Vijay poised to become Chief Minister, prompting the resignation of incumbent M.K. Stalin

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. Locally, Maldivian President Muizzu concluded his four-day state visit to Sri Lanka, signing seven MoUs to boost bilateral ties

. Sri Lanka has declared Vesak Week from May 27 to June 2, with Matara hosting the main festival

. Opposition MPs have called for a debate on alleged Executive interference in the Judiciary, citing President Dissanayake's remarks on a pending court verdict

, a concern echoed by the Bar Association of Sri Lanka

. Parliament resumed post-New Year, with the Bail, Rehabilitation, and Victim Protection Bill on the agenda

. Vietnamese President To Lam is arriving for a state visit, with special traffic arrangements in place in Colombo

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. The Aswesuma welfare scheme faces scrutiny over alleged double payments totaling Rs. 500 million

. The Finance Ministry Secretary's dual citizenship was denied by the Cabinet Spokesperson amidst public questions

. The corruption trial for former Minister Kumara Jayakody is set for June 17

. Sri Lanka and Pakistan are strengthening bilateral ties, particularly in defence cooperation

. Namal Rajapaksa questioned the President over court decisions announced at JVP platforms

. Four new members of the Audit Service Commission have taken their oath of secrecy

, and Wimal Liyanagama has been appointed new Director General of Customs

. Sureties for ex-SriLankan CEO Kapila Chandrasena were remanded in an aircraft deal case

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The Public Utilities Commission of Sri Lanka (PUCSL) concluded public consultations on a proposed 20% electricity tariff hike for 2026, with a decision expected on May 10th, though a Rs. 15 billion Treasury subsidy could exempt 95% of consumers

. The Sri Lankan Rupee continues to depreciate, with the US Dollar selling rate exceeding Rs. 322

. Fuel prices have increased across all categories, marking the sixth revision for the year, leading to a 12% hike in school van fares and potential adjustments for other transport

. Despite allegations of overpaying and shortages, the government is distributing Yala Season fertilizer subsidies of Rs. 30,000 per hectare

. The country has received crude oil and petrol tankers, with sufficient fuel stocks confirmed until the end of June

. Global oil prices have fallen for a second consecutive day as President Trump hints at a peace deal with Iran and pauses the Strait of Hormuz escort plan

. Imported vehicle prices are set to surge due to Rupee depreciation and a doubled Social Security Contribution Levy (SSCL)

. A World Bank delegation met the Presidential Secretary, pledging support for state enterprise reforms

. Litro Gas has confirmed that domestic LP gas prices will remain stable for May, offering consumer relief

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Over 120 foreign nationals were arrested in Rajagiriya for cybercrime and immigration offenses, and have been remanded until May 15th. Separately, 60 foreign nationals were arrested in Kollupitiya on suspicion of computer-related crimes

. The Supreme Court has confirmed death sentences for four individuals in the Vidya murder case, while acquitting two others

. A fake doctor was arrested in Polonnaruwa and linked to multiple previous crimes, having served a two-year prison sentence

. A Peliyagoda Police Constable was arrested for soliciting and accepting a Rs. 200,000 bribe to release a drug suspect

. The Hambantota Magistrate's Court has acquitted the Hambantota Bird Park owner and two others in a high-value motorcycle import case, after the CID ceased pursuing the complaint

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The Meteorological Department has re-issued a warning for strong lightning expected in several areas after 1 PM today, May 3rd, covering North-Central, North-Western provinces, and specific districts

. Sri Lanka continues to endure a persistent heatwave, with a 'Caution Level' heat index advisory for tomorrow (May 6th) across multiple provinces and districts

. Increased rainfall is forecast across the island due to the strengthening Intertropical Convergence Zone (ITCZ), with heavy showers exceeding 100mm likely in some areas

. The silt gate of the Kotmale Gamini Dissanayake Reservoir was opened for 30 minutes to clear accumulation from Cyclone 'Ditwa', with the reservoir's capacity currently at 27.7%

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Media mogul and philanthropist Ted Turner, the visionary founder of CNN, has passed away at 87, leaving an indelible mark on global media as the pioneer of 24-hour news

. Sri Lanka is forecast to experience increased rainfall from May 6th due to the ITCZ and an atmospheric disturbance, with morning rain expected in several provinces and districts, and heavy rainfall exceeding 75mm in some regions

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Prime Minister Dr. Harini Amarasuriya announced plans to implement significant reforms in the higher education sector, aligning them with ongoing changes in primary and secondary education, based on a forthcoming expert committee report

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New reports confirm three deaths from a hantavirus outbreak on the cruise ship 'MV Hondius' off Cape Verde, with seven infected and human-to-human transmission suspected. The ship's Dutch doctor, among three evacuated, has reportedly improved

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A 66-year-old man, Piyasiri from Katugastota, died in a tragic grinder accident while cutting iron for a fence at his home. The grinder struck his neck, causing severe bleeding

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