The Pulse: Rupee Plunges, Easter Probe Intensifies, Global Ties Deepen

Four suspects involved in the alleged fake bail scheme for former SriLankan Airlines CEO Kapila Chandrasena, including Mohamed Rizwan and Mohamed Irshad, have been released on bail with travel bans and asset conditions

. The 'Ratam Ekata' National Operations Council convened to fast-track drug destruction laws and expedite legal amendments

. Russian President Vladimir Putin and Chinese President Xi Jinping deepened ties with over 20 agreements in Beijing, solidifying their strategic partnership

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. Transport Minister Bimal Ratnayake revealed a Rs. 4.61 billion expressway financial leak and Rs. 380 million in duplicate payments

. SLPP MP Namal Rajapaksa accused the government of politicising the Easter Sunday attacks probe, alleging selective targeting and shielding of funders, while confirming his non-secret visit to Pillaiyan

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. Sri Lanka is set to formulate a National Space Policy to leverage space technology for national development

. Cabinet approved an Rs. 819 million contract for the Malabe-Kaduwela Road upgrade

. PM Dr. Harini Amarasuriya delivered a lecture at the University of Oxford on development and emphasized that politics is integral to governance during her UK visit

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. Speaker ordered MP Chamara Sampath Dassanayake removed from Parliament for disruption

. A new digital system (CROPIX) has been launched to enhance seed production and quality in agriculture

. The government will expedite Rs. 1,200 million in compensation for Matara farmers affected by the Nilwala Salinity Barrier

. Former SIS Chief Suresh Sallay was produced in court and remanded until July 01 in the Easter Attack probe

. Sri Lankan Health Minister Dr. Nalinda Jayatissa addressed the 79th World Health Assembly in Geneva and held bilateral discussions

. Police will pursue legal action against Wimal Weerawansa for disrupting the War Heroes' Day Commemoration rehearsal

. President Anura Kumara Dissanayake inaugurated the new Batticaloa Public Library

. Tamil Nadu CM C. Joseph Vijay commemorated Mullivaikkal Remembrance Day, pledging solidarity for Sri Lankan Tamils

. Indian Air Force Chief Air Chief Marshal A. P. Singh concluded his first day of visit to Sri Lanka, meeting with the Defence Secretary

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President Anura Kumara Dissanayake detailed Sri Lanka's severe dollar crisis, citing reduced tourist arrivals, declining export earnings exacerbated by the Middle East conflict, and USD 522 million spent on fuel imports for May alone

. The Sri Lankan Rupee has experienced a dramatic and sustained depreciation, plunging past LKR 345 against the US Dollar in some banks, reaching unprecedented lows not seen since late 2023 or early 2024

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. The Central Bank reported a 2.9% depreciation in the first four months of 2026, with economic experts warning of a severe market crisis and uncontrollable price increases for imported goods if the trend continues. The Consumer Affairs Authority (CAA) has intensified its crackdown, imposing over Rs. 89 million in fines for consumer violations, including legal action against traders selling Samba rice above the Maximum Retail Price and a supermarket fined Rs. 500,000 for overcharging on imported Keeri Ponni rice

. Imported milk powder prices have surged, with a 1kg packet now costing Rs 3,000 and a 400g packet Rs 1,200, following a price increase by the Importers' Association

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A 35-year-old Chinese national was arrested in Kollupitiya with 540 duty-free cigarettes, while three other Chinese nationals were apprehended at Katunayake Airport attempting to smuggle phones valued at Rs. 5,140,000 for alleged cybercrimes

. Investigators reported to the Kotahena Magistrate's Court that CCTV footage is unavailable from the residences of former SriLankan Airlines CEO Kapila Chandrasena and his relative Aravinda de Silva, hindering the probe into Chandrasena's death

. Police in Hungama opened fire on a lorry suspected of illegally transporting cattle, leading to the arrest of four suspects, one of whom sustained injuries

. In separate raids, eight bus drivers and one conductor were arrested in Kalutara South for alleged narcotics use while on duty, and seven public transport drivers and conductors tested positive for dangerous drugs at the Kadawatha bus stand

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The WHO has declared the Ebola outbreak in DRC and Uganda a Global Health Emergency, with the death toll rising to at least 131 in DRC and one death in Uganda

. Sri Lanka's Ministry of Health has implemented a five-point plan to prevent the entry of the Ebola virus, including strengthening airport surveillance and preparing infectious disease facilities

. As of May 18, Sri Lanka has recorded 29,589 dengue cases and 15 deaths in 2026, with the Western Province reporting the highest number of infections

. The registration of all Vesak dansals is now mandatory for public safety, with organisers required to register through their nearest health office to receive food preparation guidelines

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A train derailment near Vanawasala, between Wanawasala and Kelaniya railway stations, has caused nearly Rs. 1.7 million in damage to railway tracks and components, with repairs now completed for the damaged sections

. In the Maldives, the recovery operation for the diving tragedy has concluded with the retrieval of the last two bodies of the Italian divers from the underwater cave, bringing the total fatalities to five Italians and one rescue diver

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The Southwest Monsoon continues to establish across Sri Lanka, bringing intermittent rain or thundershowers to Western, Sabaragamuwa, and North Western provinces, as well as Galle, Matara, Kandy, and Nuwara Eliya districts, with some areas expecting moderate heavy rainfall exceeding 50mm

. Gusty winds of 30-40 km/h are forecast for several regions.

The Meteorology Department forecasts the gradual establishment of the Southwest monsoon across Sri Lanka, predicting intermittent rain and thunderstorms in multiple provinces, with certain locations in the Western, Sabaragamuwa, Galle, Matara, Kandy, and Nuwara Eliya districts potentially receiving heavy rainfall exceeding 50mm

. Moderate winds of 30-40 km/h are also anticipated in the Northern, North Central, and Hambantota districts.