Sri Lankan President’s Coalition Secures Historic Majority in General Election

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Sri Lankan President Anura Kumara Dissanayake’s leftist National People’s Power (NPP) coalition has won a commanding two-thirds majority in the country’s snap general election. This landslide victory grants the president the authority to pursue his ambitious reforms targeting poverty alleviation, anti-corruption measures, and economic recovery in the wake of a severe financial crisis.

Unprecedented Mandate and Widespread Support

The NPP coalition secured 159 out of 225 parliamentary seats, representing approximately 62% of the vote—an increase from the 42% support Dissanayake received in the September presidential election. This remarkable result includes unexpected backing from Sri Lanka’s northern and eastern regions, home to the minority Tamil population, signaling a unifying call for change across the country.

Analysts describe this as one of the most decisive election victories in Sri Lanka’s history, eclipsing the once-dominant Rajapaksa family’s Sri Lanka Podujana Peramuna party, which was reduced to just three seats. The opposition Samagi Jana Balawegaya party, led by Sajith Premadasa, secured 40 seats, while the New Democratic Front, associated with former President Ranil Wickremesinghe, won five seats.

“This marks a critical turning point for Sri Lanka,” Dissanayake declared, emphasizing the electorate’s support for a shift in political culture initiated during his presidential campaign.

Challenges Ahead: Governance, Policy, and Economic Recovery

Despite the political stability brought by this sweeping majority, the Dissanayake administration faces significant challenges. The coalition’s limited experience in governance raises concerns about its ability to implement complex policies effectively. The new government’s priority will be addressing the high cost of living, reducing taxes, supporting local businesses, and expanding welfare programs.

Dissanayake’s intention to renegotiate aspects of the $2.9 billion International Monetary Fund (IMF) bailout, which has been pivotal in Sri Lanka’s economic recovery, adds to the uncertainty. The president aims to soften stringent tax targets to redirect resources toward welfare programs, a move welcomed by struggling citizens but viewed cautiously by investors.

Economists warn that altering the bailout terms could delay future disbursements, jeopardizing Sri Lanka’s ability to achieve key fiscal targets, including a 2.3% GDP primary surplus by 2025. However, early reactions from the bond market have been modestly positive, with international bonds reaching their strongest levels since late 2021.

Reforming the Executive Presidency

The coalition’s two-thirds majority also grants Dissanayake the power to initiate constitutional reforms, including abolishing the executive presidency—a move he advocated as an opposition leader to curb abuses of power. However, analysts predict that immediate economic challenges will take precedence over constitutional amendments.

Looking Forward

Sri Lanka, still grappling with the aftermath of a historic economic crisis, is at a crossroads. While the electorate has delivered a decisive mandate for change, the path forward requires balancing bold reforms with economic stability.

As Bhavani Fonseka of the Centre for Policy Alternatives aptly noted, “The president has a huge mandate now to carry through the reforms but also huge expectations from the people. Sri Lankans are looking for tangible improvements in their daily lives.”

 

Apple Faces £3bn Lawsuit Over Alleged Anti-Competitive iCloud Practices

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Consumer group Which? has filed a legal claim against Apple, alleging that the tech giant has unfairly restricted around 40 million British users to its iCloud storage service and charged them “rip off prices” for additional storage. If successful, the claim could lead to a £3 billion payout, with individual customers receiving approximately £70.

Which? claims Apple has “locked” users into its service and overcharged them for storage, offering minimal free storage space and pushing users toward paid iCloud plans. Subscription costs range from £0.99 per month for 50GB to £54.99 per month for 12TB of space. Apple counters these claims, asserting that users are not required to use iCloud and can turn to third-party storage options. Apple also states that it prioritizes user security and aims to make data transfer accessible.

Toby Starr from Humphries Kerstetter commented that this case is part of a “growing tide” of legal actions against tech giants, including Facebook, Google, and Steam, brought before the UK’s Competition Appeal Tribunal. Starr believes that such cases, although lengthy, are likely to impact big tech as they may end in settlements.

Anabel Hoult, CEO of Which?, stated that the lawsuit serves as a message to large corporations, emphasizing that UK consumers should not be exploited. Which? seeks not only compensation for affected customers but also aims to discourage similar behavior from large tech firms in the future.

Which? has partnered with law firm Willkie Farr & Gallagher, with funding from Litigation Capital Management. Alan Davis of Pinsent Masons suggests that further similar claims could emerge, driven by the high value of potential damages and the support of litigation funders. However, he points out that without a competition law infringement decision, the burden of proving market abuse rests on the claimant.

Which? has urged Apple to settle the issue without prolonged litigation, advocating for refunds to consumers and greater market competition.

 

Historic Diamond Necklace Linked to Marie Antoinette’s Scandal Sells for $4.8 Million

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An 18th-century diamond necklace, believed to contain diamonds linked to Marie Antoinette’s infamous “Affair of the Diamond Necklace,” fetched over 4.2 million Swiss francs ($4.8 million) at a Sotheby’s auction in Geneva on Wednesday. Weighing around 300 carats, this antique piece likely originated a decade before the French Revolution and was showcased publicly for the first time in 50 years during a pre-auction tour.

While the necklace’s precise origins remain unrecorded, Sotheby’s asserts it was most likely crafted for royalty or an aristocrat. The piece was once owned by the British Marquesses of Anglesey and has a storied history; it was worn by Marjorie Paget, the Marchioness of Anglesey, at King George VI’s 1937 coronation and by her daughter-in-law at Queen Elizabeth II’s 1953 coronation. In the 1960s, the necklace left the family’s possession, later exhibited in New York’s American Museum of Natural History before ending up with a private collector.

The opulent necklace boasts three rows of old mine brilliant-cut diamonds, weighing between one and one-and-a-half carats each. The diamonds are thought to have originated from the legendary Golconda mines of India, known for producing some of the world’s finest gems, including the Hope Diamond. Sotheby’s chair Andres White Correal praised the necklace as a rare artifact of Georgian-era luxury and craftsmanship, showcasing both technical sophistication and historical importance.

This dazzling piece may also carry a notorious history. Some diamonds in the necklace are believed to be from the piece central to the “Affair of the Diamond Necklace” scandal of 1785, which rocked the court of King Louis XVI. In the scandal, a cardinal was deceived into buying an elaborate diamond necklace on behalf of a woman impersonating Queen Marie Antoinette. When jewelers demanded payment, the Queen denied knowledge of the necklace, revealing the scheme. The scandal, which falsely implicated Marie Antoinette in a supposed immoral relationship, damaged her reputation and heightened public disdain for the monarchy, further fueling the tensions that led to the French Revolution.