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There is a revealing incongruity at the heart of the Maldives’ latest foreign-exchange policy. A country whose economic model depends overwhelmingly on attracting foreign visitors and earning hard currency is tightening its grip on the dollars generated by its tourism industry. The decision to require Category A tourism establishments to convert 40 per cent of their monthly gross foreign-currency sales, effective from September 2026, comes amid renewed pressure on the country’s foreign-exchange position.

The Maldives Monetary Authority’s August figures showed official reserve assets rising marginally to $ 643.8 million, while usable reserves fell 9.6 per cent to $ 200.6 million. The central bank attributed the decline to foreign-currency sales exceeding inflows during the month.

The timing matters. This is not an isolated regulatory adjustment but a broader attempt to draw tourism earnings into the formal banking system, strengthen domestic foreign-exchange liquidity and reduce pressure on the currency market. President Mohamed Muizzu ratified the First Amendment to the Foreign Currency Act on 31 August, with the amendments taking effect on 1 September. Category A establishments must now convert 40 per cent of monthly gross foreign-currency sales through an MMA-licensed bank, replacing the previous option of converting $500 per tourist.

But the consequences extend beyond monetary management. They raise a question for the Indian Ocean tourism market, what happens when a government requires the businesses generating foreign currency to surrender a larger share of their earnings, while those same businesses depend on dollars to operate?

For Sri Lanka, the answer could influence the next generation of resort developments, international hotel partnerships and investment decisions.

A tighter grip on tourism dollars

The amended framework compresses the conversion timetable. September earnings must be converted by 28 October, rather than by the 28th day of the third subsequent month under the previous arrangement. Compliance records and transaction logs must be submitted through the MMA’s Foreign Exchange Portal.

The authorities have also strengthened controls over foreign-exchange transactions. The revised regime provides for penalties of up to MVR 1 million for prohibited foreign-currency transactions conducted above rates authorised by the central bank. It also introduces restrictions on publishing or disseminating unofficial exchange rates, including through media and digital channels, alongside stricter licensing requirements for money changers.

Money-exchange operators must obtain formal MMA licences and meet a mandatory $50,000 security-deposit requirement. Together, these measures seek to reduce unregulated currency dealing and direct more foreign-exchange transactions through authorised institutions.

The underlying objective is understandable. When dollars earned from tourism do not circulate adequately through the formal financial system, the central bank has fewer resources to meet import requirements and ease shortages. However, enforcement alone cannot resolve the economic incentives that drive businesses towards alternative channels.

The dollar paradox facing resorts

A Maldivian resort is an unusually foreign-currency-intensive business. Imported food and beverages, fuel, equipment, insurance, spare parts, overseas services and foreign-currency financing account for substantial operating requirements.

The resort earns dollars from international visitors but also needs those dollars to remain commercially viable.

The difficulty emerges when mandatory conversion into Rufiyaa is not matched by reliable access to foreign currency for legitimate international payments. Businesses may receive local currency through conversion only to face delays, additional costs or uncertainty when purchasing dollars to pay overseas suppliers, service foreign debt or settle foreign-currency obligations.

At a 40 per cent conversion threshold, this becomes a material consideration for working capital, margins and investment returns.

The regulatory framework recognises that a uniform requirement may create difficulties for certain operators. The MMA Governor has discretionary powers to reduce the threshold where businesses demonstrate that compliance would impair their ability to service foreign debt, pay mandatory foreign-currency taxes or meet essential overseas operating costs.

Such concessions may provide relief, but discretionary exemptions are not necessarily equivalent to a predictable, transparent system guaranteeing access to foreign currency when legitimate commercial obligations fall due.

Taxing offshore tourism transactions

The foreign-exchange measures also intersect with efforts to capture more value from tourism transactions arranged outside the Maldives.

Revisions to the Tourism Goods and Services Tax framework target foreign tour operators and online travel agencies, bringing offshore package and booking arrangements within a more clearly defined domestic tax-compliance regime.

Resorts and guesthouses are required to disclose transactions, booking values and revenue arrangements involving foreign travel intermediaries to the Maldives Inland Revenue Authority.

The policy challenge is to ensure that tourism-related economic activity is appropriately reported and taxed, even when booking and payment arrangements cross national borders. Yet taxation, foreign-exchange conversion and access to dollars are distinct issues. Their combined effect on resort cash flow and investment returns will matter to operators assessing future projects.

Commercial banks also face foreign-currency surrender obligations requiring them to transfer prescribed portions of foreign currency purchased to the MMA. The objective is to strengthen central-bank reserves and support essential imports, including fuel, food and pharmaceuticals.

The wider question is whether the system can improve the availability of dollars across the economy without undermining the businesses responsible for generating them.

Why Sri Lanka should look beyond tourist arrivals

This is where the story becomes particularly relevant for Sri Lanka.

Sri Lanka has experienced its own severe foreign-exchange crisis and has no reason to assume that its present position is permanently secure. Nevertheless, the country has an opportunity to compete for international tourism capital by offering investors a credible, predictable operating environment.

An investor evaluating an Indian Ocean resort does not compare beaches, room rates and tourist arrivals alone. The calculation includes financing costs, foreign-currency liquidity, imported operating expenses, debt servicing, taxation, regulatory predictability and the ability to repatriate legitimate returns.

The distinction is important. A tourist may change destinations for a week. An international hotel group may commit hundreds of millions of dollars to a project expected to operate for decades.

Sri Lanka should therefore resist treating the Maldives’ regulatory changes merely as an opportunity to attract displaced visitors. The larger prize is investment capital: new resorts, hotel-management agreements, integrated tourism developments and long-term hospitality infrastructure.

Colombo should engage international hotel groups and resort operators while investment decisions are still being made. Its proposition should combine a diversified tourism offering, connectivity, luxury and experiential tourism opportunities, infrastructure development and a transparent framework for managing foreign-currency earnings.

The objective should not be to promise investors that Sri Lanka will never experience currency pressure. It should be to demonstrate that legitimate foreign-currency obligations can be managed through predictable rules and functioning financial markets.

A window, not a guaranteed windfall

The opportunity is neither automatic nor permanent.

The Maldivian government could modify the 40 per cent threshold, expand exemptions or improve access to dollars through domestic banks. Its established luxury-tourism brand, existing resort infrastructure and international commercial relationships remain formidable advantages. A regulatory change does not mean international investors will abandon existing projects.

The more important question is what happens at the margin: where the next resort is built, where the next hotel-management agreement is signed and where international capital is committed.

For Sri Lanka, converting this opening into investment requires credible policy, efficient approvals, reliable infrastructure, regulatory stability and a clear commitment to protecting the commercial viability of tourism projects. Without these, any advantage created by developments elsewhere will remain theoretical.

Maldives’ foreign-exchange difficulties should not be celebrated. They should be studied.

The Maldives may have a foreign-exchange problem. Sri Lanka has an investment problem. One country is attempting to retain more of the dollars generated by tourism; the other needs to attract more foreign capital into its tourism economy.

If Colombo can align its tourism, investment, foreign-exchange and infrastructure policies intelligently, the Maldivian policy shift could create an opening that extends far beyond the next tourist arrival.

The question is whether Sri Lanka will recognise that opportunity while it is still a window, rather than discovering it after the capital has already chosen where to go.

People’s Bank, one of Sri Lanka’s leading state-owned commercial banks, marks World Thrift Day on 31 October, reaffirming its commitment to promoting financial discipline, strengthening household financial security and supporting the country’s economic development. Through a diverse portfolio of savings products and innovative digital banking solutions, the Bank continues to empower Sri Lankans to manage their finances effectively and plan for a secure future.

Established in 1924 at the first International Savings Bank Congress held in Milan, Italy, World Thrift Day highlights the importance of prudent financial management and developing sound saving habits. For People’s Bank, this mission has remained central to its operations throughout its 65-year history, with products and services designed to meet the changing needs of customers at every stage of life.

Commenting on the occasion, A.U.A. Anzar, Deputy General Manager – Retail Banking at People’s Bank, said:

‘Over the past 65 years, People’s Bank has introduced a wide range of financial products to help Sri Lankans build financial security and achieve their future aspirations. Recognizing that financial needs differ at every stage of life, we continuously develop customer-focused solutions that combine the reliability of traditional banking with the convenience of modern technology.

‘Digital transformation is an important part of this commitment. Through platforms such as People’s Wave and People’s Pay, customers can access a range of banking services anytime, anywhere, making every day financial transactions more convenient and efficient. By combining responsible financial habits with innovative banking solutions, we aim to empower individuals and families while contributing to Sri Lanka’s sustainable economic development,’ he added.

People’s Bank offers specialized savings accounts for customers across different age groups and life stages. The Isuru Udana account, introduced in 1998, caters to children below six years of age, while the Sisu Udana account, introduced in 1996, encourages schoolchildren aged six to 18 to develop financial discipline from an early age.

Beyond promoting financial responsibility, the Bank recognizes academic excellence by rewarding students who pass the Grade 5 Scholarship Examination and those who achieve first, second and third island ranks across all six streams at the G.C.E. Advanced Level Examination.

The YES Account supports young people in building financial independence, offering attractive interest rates and benefits, together with access to financing for higher education. For women, the Vanitha Vasana Account and Vanitha Vasana Money Planner Investment Plan provide facilities to strengthen financial independence and encourage systematic financial planning.

The Parinatha Senior Citizen Account caters to the needs of older customers through attractive interest rates and access to low-interest loan schemes.

Meanwhile, the Ethera Isura Personal Foreign Currency Account enables eligible Sri Lankans to maintain savings or fixed deposits in 14 approved foreign currencies. The Ethera Udana Minors Foreign Account also allows parents living overseas to build a financial foundation for their children’s education and future needs.

Complementing these products, People’s Bank continues to expand its digital banking infrastructure to enhance customer convenience. Its network of more than 300 self-banking units provides access to essential banking transactions 24 hours a day, 365 days a year.

The People’s Wave Mobile Banking App enables customers to conduct banking transactions through their mobile phones, while the People’s Pay digital wallet offers services including fund transfers, credit card payments, mobile reloads and LankaQR payments. These platforms help customers manage their finances efficiently while reducing the need for routine branch visits.

On World Thrift Day, People’s Bank encourages Sri Lankans to make regular saving and responsible money management an integral part of their lives. By setting aside funds consistently and making informed financial decisions, individuals and families can prepare for unexpected expenses, pursue their aspirations and build long-term financial resilience.

Through its comprehensive savings portfolio, accessible banking services and continued digital innovation, People’s Bank remains committed to fostering financial inclusion and helping to build a more financially secure and prosperous Sri Lanka.

The Ceylon Chamber of Commerce-affiliated automotive body Ceylon Motor Traders’ Association (CMTA) yesterday urged the Government to take decisive action in the upcoming 2027 Budget to abolish the 15% depreciation concession granted on used vehicle imports.

Doing so, CMTA said, will address significant Government revenue losses and establish a unified tax structure across the automotive sector.

Despite the issue being raised through previous Budget proposals submitted via the Ceylon Chamber of Commerce, the necessary policy change remains outstanding. With the upcoming Budget presenting another opportunity to address this long-standing concern, the CMTA stresses that the Government prioritise the matter this time around to safeguard public revenue, eliminate existing market distortions and ensure a fairer, more transparent vehicle taxation system in the country.

The association estimates that Government revenue leakage arising from the current depreciation mechanism amounted to approximately Rs. 40 billion in 2025, rising to an estimated Rs. 120 billion by September 2026. This substantial increase highlights the urgency of addressing the issue, as continued revenue losses place further pressure on public finances at a time when Government revenue is critical to supporting economic recovery, national development and essential public services.

Under the existing system, used vehicles receive a 15% depreciation on their Cost, Insurance and Freight (CIF) value when calculating import duties. However, many vehicles entering Sri Lanka through the used vehicle market are virtually zero-mileage units, with CIF values comparable to those of brand-new vehicles. The CMTA argues that applying a blanket depreciation concession in such circumstances creates an unjustified tax advantage for used vehicle imports, despite the limited difference in the underlying value of the vehicles, while significantly impacting on the revenue collected by the State.

The CMTA maintains that abolishing this concession should form part of a broader effort to establish a unified and equitable tax structure for vehicle imports. A consistent approach to taxation would help eliminate preferential treatment between market segments, reduce opportunities for misuse and create a more transparent and predictable operating environment for importers, consumers and the Government.

The Association also calls on the authorities to strengthen oversight and take decisive action against those exploiting the existing framework for personal gain. Closing loopholes and addressing practices that undermine the intended application of import duties are essential to protecting Government revenue and maintaining the integrity of Sri Lanka’s automotive trade.

While recognising the importance of vehicle affordability, the CMTA emphasises that this objective should not be pursued through selective tax concessions that distort the market and impose a significant cost on the Treasury. If reducing the cost of vehicle ownership is a policy priority, the Association believes that any such measures should be considered within a broader, consistent taxation framework rather than through benefits that favour one category of vehicle imports over another.

The Association further notes that buyers of brand-new vehicles benefit from manufacturer warranties, which can help reduce maintenance and repair expenses during the warranty period. This offers consumers additional assurance regarding reliability, after-sales support and the potential cost of ownership, factors that should also be considered when evaluating policies affecting the new and used vehicle markets.

The CMTA has previously advocated a more structured approach to depreciation, including a framework proposed as far back as 2013 and then continuously proposing same to every Government up to date, under which depreciation would be determined according to vehicle age rather than applied as a flat-rate concession. The proposal envisaged a defined scale with depreciation capped at a maximum of 10% providing a more transparent and equitable basis for calculating vehicle import duties.

While the Association continues to advocate the abolition of the existing 15% concession, it maintains that, should the Government decide to retain a depreciation mechanism, it must be based on a clearly defined and consistently applied framework that reflects vehicle age and is subject to a reasonable cap. Such an approach would help minimise arbitrary tax advantages while improving transparency and protecting State revenue.

As the Government prepares its upcoming budget, the CMTA reiterates that this issue requires urgent attention and can no longer be deferred. Addressing the depreciation concession and establishing a unified vehicle taxation structure would represent an important step towards reducing revenue leakages, strengthening public finances and ensuring a level playing field across Sri Lanka’s automotive sector.

The Association therefore urges the Government to act decisively in the upcoming Budget by abolishing the 15% depreciation concession on used vehicle imports and introducing a fair, transparent and unified taxation framework. With the issue having remained unresolved despite previous representations, the CMTA stresses that the forthcoming budget must provide a clear policy direction and deliver the corrective action needed to protect Government revenue and support a more equitable automotive market.

The Sri Lanka Export Development Board (EDB) has successfully conducted a workshop on the practical application of Artificial Intelligence (AI) for Small and Medium-sized Enterprises (SMEs) engaged in export businesses in the Kandy region, with the sponsorship support of Habib Bank.

The workshop was held at the Grand Kandyan Hotel, Kandy, bringing together 55 participants, including SME exporters and entrepreneurs. The program provided participants with practical knowledge on how AI can be effectively utilised to enhance business operations, productivity, innovation and competitiveness in international markets.

The session focused on practical applications of AI relevant to exporters, including market research, identification of potential international buyers, digital marketing, content creation, customer engagement, business process automation and other export-related activities.

Bluechip Tech Ltd., and Bluechip Technologies Asia Founder and CEO Uditha Bandara, served as the resource person for the workshop. He shared his expertise and practical experience on the application of AI and emerging digital technologies, providing participants with valuable insights into how AI-powered tools can be incorporated into their day-to-day business activities.

The interactive session also demonstrated how AI tools can help SMEs reduce the time and cost associated with routine business activities, improve decision-making and enhance their ability to identify and access new international market opportunities. Participants had the opportunity to engage in discussions and gain practical insights into the effective use of AI for business growth and export development.

The program forms part of the EDB’s ongoing efforts to strengthen the digital capabilities of Sri Lankan SMEs and encourage exporters to adopt emerging technologies to improve productivity, innovation and competitiveness in global markets.

The EDB appreciates Habib Bank for its valuable sponsorship and support in successfully conducting the program in Kandy. The EDB also extends its appreciation to Bluechip Tech Ltd., and Bluechip Technologies Asia Founder and CEO Uditha Bandara for sharing his expertise and contributing to the capacity-building of Sri Lankan SME exporters through the workshop.

Novak Djokovic’s hopes of making a record 19th appearance at the ATP Finals have been dented by a surprise defeat against Jan-Lennard Struff at the Swiss Indoors in Basel.

Playing in the tournament for the first time in 15 years, the 39-year-old lost 6-7 (4-7) 7-5 7-6 (7-5) – the first time he has been beaten by Struff in nine meetings.

‘I knew I needed to go for it. There was only one way to play it. So, I was very, very happy,’ said the world number 27.

‘I knew I had to play my best tennis to have a chance. The last eight times he beat me very, very easily. So, I’m very, very happy and pleased with the performance.’

The year’s top-eight performers qualify for the ATP event in Turin and this result leaves Djokovic – the men’s game’s record 24-time Grand Slam winner – 11th in the standings.

Djokovic admitted he expected to feel ‘a little rusty’ after his win against Frenchman Ugo Humbert on Wednesday, but now faces a fight to make the finals as he is outside the top 10 for the first time since 2018. Rafael Jodar holds the final qualifying spot in ninth place, because number one Jannik Sinner is injured and will not take part.

Djokovic is 319 points behind Jodar, although he has the opportunity at the Paris Masters in November to move up the rankings. The Serb is aiming to move ahead of Roger Federer with his 19th appearance at the finals in Turin.

He has won the event a record seven times and has missed the past two editions with injury – but the last time he failed to qualify on merit was in 2017, when his season was affected by injury. Alexander Zverev, Carlos Alcaraz and Ben Shelton have their places confirmed for the showpiece event in Italy from 15-22 November, although American Shelton also surprisingly lost in Basel. The top seed lost 6-3 6-7 (4-7) 7-6 (7-1) to Swiss wildcard Jerome Kym, who is ranked 222nd in the world.

The Women Parliamentarians’ Caucus and the Health Ministry has taken an important step to promote early detection of breast cancer, one of the most commonly reported cancers among women in Sri Lanka and raise public awareness in this regard. The countrywide special national program will be held on 2 November.

This is indeed a timely move and deserves all the support of the medical fraternity and international organisations working in the health sector.

According to the Health Ministry, approximately 6,000 new cases of breast cancer are reported in Sri Lanka annually, while around 1,000 women die from the disease each year. Although breast cancer can be completely cured when detected at an early stage, delays in seeking treatment due to fear, embarrassment or a lack of awareness remain a major challenge. Breast Cancer cannot be dismissed as a disease affecting elderly women. One third of diagnosed breast cancer patients in Sri Lanka were below 50 years of age.

Being almost an exclusive condition affecting women, the kind of research and attention that it deserve is not always given and for women, who remain the main homemakers in the country while juggling work, parenting and carrying out other family and social obligations, their personal health is often neglected, unless it is too late like in the case of breast cancer.

According to the World Health Organisation (WHO), breast cancer caused an estimated 694 000 deaths globally in 2024 and was the most common cancer in women in 164 countries out of 186 in the same year. Approximately 80% of breast cancers occur in women with no specific risk factors other than sex and age.

Early action is the key to curing breast cancer which is why a program like the one initiated by the women’s caucus is crucial.

According to the WHO, treatments for breast cancer are more effective and are better tolerated when started early and taken to completion. The effectiveness of breast cancer therapies depends on completing the full course of treatment. Partial treatment is less likely to lead to a positive outcome.

For women detected with breast cancer, family support is essential for them to complete their treatment and make a full recovery. It is in this department that the role of the health authorities is crucial.

The program by the women’s caucus will include health clinics and awareness programs at the electorate and district levels. Special attention will be given to encouraging women in rural communities, plantation areas, urban high-rise housing complexes and underserved areas to attend these clinics. As only around 50% of women aged 35-45 currently attend these clinics, efforts will be made to encourage more women in this age group to make use of the facilities available at designated cancer early-detection centres.

A comprehensive program is also planned for implementation next year to refer all women aged 35-45 for screening tests, bringing together relevant stakeholders, including women’s societies operating at the Grama Niladhari division level. In addition, plans are afoot to conduct cervical cancer awareness programs in January under the leadership of women Members of Parliament.

The programs that focus on women’s health are crucial given that women usually are caregivers for others and often neglect themselves. There is also lack of awareness such as the self-examination of breasts to detect lumps and other signs of cancer. It’s important to draw attention to women’s health and campaigns such as this will go a long way to educating not only women, but all others in society on how early medical intervention even in cancer can lead to full recovery after treatment.

The death of Kawanthissa is a tragedy we cannot forget. It cannot be dismissed as merely the death of another wild elephant. There are many lessons to be learned from this incident. Above all, it provides an important opportunity to rethink wildlife conservation in Sri Lanka.

Sri Lanka has a long history of protecting wildlife. We have laws, State institutions, and protected areas established for this purpose. Yet, we have still not succeeded sufficiently in protecting the lives of elephants or ensuring the safety of the people, who live alongside them. Why is this the case?

The circumstances that led to Kawanthissa’s death must be established through a proper investigation. If there was a failure to perform official duties, those responsible must be identified. But we must not stop there. We must review the entire system to prevent similar incidents from occurring again.

Wildlife conservation is not merely an environmental issue. It is also connected to the economy, social justice, and governance. Land use, agriculture, tourism, and development projects all affect wildlife. Some groups benefit from these decisions, while others are forced to bear the costs.

In this context, we must ask three simple questions: Who makes the decisions? Who benefits? Who bears the costs?

These three questions are essential to understanding the political economy of wildlife conservation.

Wildlife conservation and the responsibility of State institutions

Sri Lanka has numerous institutions responsible for wildlife conservation. Considerable funds and resources are allocated to them. Yet, the existence of institutions alone is not evidence of success.

How many field visits have officials conducted? How many electric fences have been constructed? How many awareness programmes have been held?

These are important facts. But they are not enough to measure success.

We must ask several other questions. Have human and elephant deaths declined? Has crop damage been reduced? Have elephant habitats been protected? Do injured animals receive prompt treatment?

The success of a state institution should not be measured solely by the amount of work it has carried out. It must be assessed according to the actual results produced by that work.

This requires clear targets, reliable information, and independent evaluations. The officials and institutions responsible must also be clearly identified.

The political economy of human-elephant conflict

Human-elephant conflict is not merely an environmental problem. It directly affects rural economies and

people’s lives.

For a farmer who regularly suffers elephant damage, the elephant is a threat to income and personal safety. For someone living in a city, however, the elephant may be a symbol of our national heritage.

We must understand both perspectives.

The benefits of wildlife conservation accrue to the entire country. These include tourism revenue, biodiversity, and ecological balance. Yet, the damage caused by wildlife is borne disproportionately by certain rural communities.

This is a problem of the unfair distribution of benefits and costs.

Therefore, wildlife conservation must be linked to the protection of people’s livelihoods. Fair compensation, effective measures to prevent elephant damage, and alternative sources of income are essential.

Protecting elephants and protecting people must not be treated as opposing

objectives.

Beyond centralised bureaucratic control

Wildlife management requires scientific knowledge. National laws and oversight are also necessary. However, limiting all decisions to a few central institutions can create practical difficulties.

Villagers possess valuable knowledge about elephant routes, elephant behaviour, and areas of risk. Much of this knowledge is based on long-term experience.

Yet, this knowledge is not given sufficient consideration in decision-making.

A district-level conservation programme based on community participation is therefore necessary. Wildlife officials, local authorities, farmer organisations, and researchers should all be involved.

Community participation should not be limited to inviting people to meetings. They must have a genuine opportunity to participate in decisions that affect their lives.

This would make it possible to identify solutions suited to local needs. It would also increase public support for implementing those solutions.

What happened to existing national policies?

Sri Lanka does not need to develop wildlife conservation policies from scratch.

The National Action Plan for Mitigating Human-Elephant Conflict, prepared in 2020, provides an important foundation for this purpose.

The plan recognised that it is not practical to confine elephants exclusively to protected areas. It noted that approximately 70% of the areas inhabited by elephants are also occupied by people.

Therefore, the problem cannot be solved simply by attempting to separate elephants and people completely.

What is needed now is not another policy document. We must determine the extent to which the existing plan has been implemented.

A report is needed on the work completed, programs delayed, and funds spent. The results achieved through those efforts must also be made public.

There is no point in preparing another plan without first identifying why previous plans were not implemented.

Cristiano Ronaldo’s hat-trick helped Al-Nassr to a 5-3 win against Al-Kholood in the Saudi Pro League and took the Portugal striker to 985 career goals. With the game evenly poised at 2-2 following goals from Angelo Gabriel and Sadio Mane for Al-Nassr, Ronaldo secured the win for his side by scoring three times in 15 second-half minutes.

His Portugal team-mate Joao Felix contributed four assists, including for two of Ronaldo’s goals. It was the 67th hat-trick of the 41-year-old’s career as he continues to chase another milestone in a glittering career. He has scored seven of his hat-tricks for Al-Nassr – along with 44 for Real Madrid, 10 for Portugal and three each at Manchester United and Juventus.

The five-time Ballon d’Or winner has won league titles in England, Spain, Italy and Saudi Arabia and is the all-time top goal-scorer in men’s international football. He has spent almost four years at Saudi Pro League champions Al-Nassr, with whom he has one year remaining on his contract.

In August, he hinted at retirement by saying it was ‘probably’ his last year playing. Al-Nassr are defending champions in the Saudi Pro League and sit second in the table, although they have a game in hand on leaders Al-Qadsiah.

Everton advanced to the League Cup quarterfinals with a 3-1 victory over Newcastle United, setting up a clash against fourth-tier side Fleetwood Town.

First-half goals from James Garner and Hayden Hackney put the hosts in control before Thierno Barry struck after the break at the Hill Dickinson Stadium, with Dan Burn scoring late for the visitors on Thursday.

The Merseyside club eased through despite the absence of midfielder Jack Grealish, who was dropped from the squad following an internal breach of club discipline. Prime Minister Andy Burnham, an Everton supporter, was among the crowd. Everton will travel to League Two side Fleetwood, who stunned Premier League champions Arsenal on Tuesday. Mikel Arteta’s side crashed out 5-3 on penalties in an incredible fourth-round upset after the tie finished 1-1 in normal time.

Crystal Palace will welcome Sunderland, while Bournemouth will play away at Liverpool, who beat Chelsea 6-5 in a dramatic penalty shootout on Wednesday. Defending champions Manchester City will take on third-tier side Bradford City. They avoided the fate that befell Arsenal and stayed on course to retain their title by twice coming from behind to draw 2-2 against Brighton, then triumph 4-3 in the shootout.

The quarterfinals are scheduled to take place in the week beginning 14 December.

The Inland Revenue Department (IRD) has reminded the public that a valid Taxpayer Identification Number (TIN) certificate will be mandatory for eight specified transactions from 1 November, under the Inland Revenue (Amendment) Act, No. 11 of 2026.

The requirement applies to persons specified under Section 102(3) of the Inland Revenue Act, No. 24 of 2017, as amended. They will need a TIN certificate to open an account at a bank or financial institution, obtain a credit card, obtain approval for a building plan, register a motor vehicle, renew a motor vehicle licence, register land or a land title, register a business, or transfer shares in a Sri Lankan-incorporated company, with the last requiring a certificate from both the transferor and the transferee.

Relevant officials and institutions must ensure the certificate is submitted before processing or completing any of these transactions, the IRD said.

The obligation to obtain a TIN applies to resident individuals aged 18 or above as of 31 December, 2023, and to those who turned or will turn 18 on or after 1 January, 2024, upon reaching that age. It was introduced through Extraordinary Gazette Notification No. 2334/21 of 31 May, 2023.

Individuals without a TIN can register through the IRD’s e-Services portal, where they can also verify their TIN. A printout of the verification result clearly showing the individual’s National Identity Card (NIC) number and TIN may be accepted in place of the official certificate. The Commissioner General of Inland Revenue urged the public to obtain and verify their TIN certificates before the deadline to avoid delays.