Nov 1 (EN) Stocks ballooned 2.7% to cross the 6,000-point psychological barrier Thursday, while the rupee ended stronger at around 174.00/40 rupees against US dollar in the spot market, market participants said. Prez has agreed to reopen parliament on Monday in a move that could lead to a vote to resolve the power struggle between Mahinda Rajapaksa and Ranil Wickremesinghe, both claiming the premier post. The rupee had fallen to an intraday low of 175.75 rupees against the greenback more..

Nov 1 (AFP) President Maithripala Sirisena on Thursday lifted a suspension of parliament and called a meeting for Monday that could end an increasingly bitter power struggle between two rival PMs, officials said. The climbdown by Sirisena, who sparked the crisis by sacking Ranil Wickremesinghe as prime minister and naming former strongman leader Mahinda Rajapakse in his place, would allow a vote to see which of the more..

Nov 1 (EN) Sri Lanka's banks are easy targets for higher taxes which is hurting profitability and discouraging foreign investors from buying banking stocks, said S. Renganathan, Chief Executive at listed Commercial Bank of Ceylon. "Repeatedly taxing banks is a challenge. If we add more taxes that will impact earnings and Sri Lanka banks would be less attractive to investors," Renganathan said at a recent forum Financial Sector Investment Conference organised by Asia Securities, more..

Nov 1 (CT) The alleged justification of the Attorney General’s Department of the removal of PM Ranil Wickremesinghe and the appointment of Mahinda Rajapaksa as constitutionally legitimate has now turned the deepening constitutional crisis in the country to a new path, a path in which the country, despite the AG’s Department denying the announcement made by the newly appointed Cabinet Minister Mahinda Samarasinghe who read out the soidisant correspondence between more..

Nov 1 (DM) The Speaker Karu Jayasuriya had agreed to provide parliamentary privileges to newly appointed PM Mahinda Rajapaksa including the Premier’s chair in Parliament chambers. A spokesman from Speaker’s office said he has to do it as per the gazette notification issued pertaining to the appointment of Mr. Rajapaksa as the Premier. UPFA MP Thilanga Sumathipala the PM was not appointed by the Parliament but more..

Nov 1 (AFP) SL's journalists have become caught in the centre of the bitter power struggle between the country's rival prime ministers, an international media watchdog said Wednesday, urging authorities to ensure their safety. Reporters without Borders (RSF) said supporters of former prez Rajapakse stormed state-owned media institutions shortly after he was controversially named PM on Friday. Sacked PM Ranil Wickremesinghe has refused to hand over power however, saying the move was illegal. more..

Nov 1 (AD) Four new Ambassadors including the new US envoy to Sri Lanka presented their credentials to President Maithripala Sirisena at the President’s House in Colombo, today. Minister of Foreign Affairs, Dr Sarah Amunugama, Secretary to the President Udaya R. Seneviratne, Secretary to the Ministry of Foreign Affairs Ravinatha Ariyasinghe were also present on this occasion. The new envoys are: Mrs. Alaina Teplitz – Ambassador of the US; Mr. Akira Sugiyama – Ambassador of Japan more..

Nov 1 (AD) UNP MP Ajith P. Perera claimed that there is an attempt to arrest former PM Ranil Wickremesinghe. “We have received information that at this moment the OIC who was recently appointed to Kollupitiya Police and the newly appointed Defene Secretary Hemasiri Fernando are discussing about arriving at Temple Trees within today to use force against Ranil Wickremesinghe and to remove him from more..

Nov 1 (AD) The UK’s Foreign and Commonwealth Office has updated its advice to travellers to Sri Lanka, warning them to exercise vigilance and avoid all demonstrations or large political gatherings. The update comes in the wake of President Sirisena’s sacking of PM Ranil Wickremesinghe and his cabinet on 26 Oct, and Mr Wickremesinghe’s subsequent refusal to leave office. There have been political demonstrations in Colombo, the Sri Lankan capital, which the Foreign Office says more..

Nov 1 (Rediff) The continuing democracy-deficiency discourse notwithstanding, in the evolving political situation facing SL, 16-MP TNA may be holding the key just now. This comes in the footsteps of the historic elections 2015 which incumbent Prez Rajapaksa lost to rebel Maithripala Sirisena, as minority Tamils, Muslims and Upcountry Tamils of recent Indian origin (all three considered separate ethnicities alongside majority Sinhala-Buddhists) voted almost en masse for the latter. more..

Nov 1 (BBC) The man at the centre of SL's political crisis has told the BBC he has the support of parliament and will not leave the grand mansion reserved for the island nation's prime minister. Last week the president sacked PM Ranil Wickremesinghe and his cabinet and suspended parliament, appointing former leader Mahinda Rajapaksa as the new PM. But Mr Wickremesinghe says move is illegal and will not leave office. more..

Nov 1 (Island) Govt spokesman Ports and Minister Mahinda Samarasinghe alleged that the UNP went to the extent of manipulating the parliamentary process to thwart efforts to expedite investigations into treasury bond scams perpetrated in 2015 and 2016. Minister Samarasinghe alleged that the Office of the Leader of the House Lakshman Kiriella was responsible for the deliberate bid to hold up legislation required to speed up investigations undertaken by the CIABOC. more..

Nov 1 (BN) Holed up in a colonial-era mansion on an island in the Indian Ocean, an embattled PM is desperately trying to hold onto power. In his first interview with international media since his ouster, SL’s Ranil Wickremesinghe told Bloomberg that the country’s president had no legal grounds to fire him. He insists he has enough support in parliament, which was suspended, and can form a govt once again. Analysts aren’t so sure. President Sirisena replaced the premier with more..

Nov 1 (EN) SL’s govt might miss its budget deficit target for 2018 given lower-than-expected revenue collection, central bank has warned. The overall budget deficit declined to 3.5% of the estimated GDP during the first eight months of 2018 from 4% in the corresponding period of 2017, it said in its half yearly report on recent economic developments and prospects for 2019. This was because the reduction in govt expenditure more..

Nov 1 (TN) Sri Lanka's cricket board have become the latest to give the green light to their players participating in the inaugural UAE T20x. Players such as Lasith Malinga, Tillakaratne Dilshan, Ajantha Mendis, Angelo Mathews, Upul Tharanga, Thisara Perera, and Rangana Herath will now be available to the five franchises involved in the competition to choose from. Kumar Sangakkara, who is one of the league's icon players, welcomed the news. He said: more..

Nov 1 (DM) The special commodity levy on imported big onions and potatoes would be extended for a period of one month with effect from today, the Finance Ministry announced. It said the import tax on big onion was increased to Rs. 40 from Rs. 1 per kilo six months before. Accordingly, the import tax on potatoes was increased to Rs. 40 per kilogram from Rs. 30. The Finance Ministry says that this decision has been taken with the reduction of local big onions and potato prices. more..

Nov 1 (DM) Railway trade unions today said that the train services on the northern railway line would be disrupted from this Sunday night if the Police failed to arrest those who were involved with Pothuhera blockade incident last evening, within 48 hrs. Railway Trade Union Alliance (RTUA) Co-Convener Lal Ariyaratne said the trade unions including SL Railway Station Masters' Union, Ceylon Railway Guards Union, more..

Nov 1 (EN) Some loyalists PM Mahinda Rajapaksa has contradicted his reported statement in the morning that President Sirisena will reconvene parliament on Monday, sowing more confusion. The media office of Speaker Karu Jayasuriya also issued a statement that President Sirisena had responded positively to a request to recall parliament early. The speakers also said that he will not block officials of parliament from giving privileges due to a PM to Rajapaksa. more..

Nov 1 (PHC) High Commissioner of Pakistan, Dr. Shahid Hashmat met PM Mahinda Rajapaksa and Speaker Karu Jayasuriya on today. During the meetings, the current political situation in Sri Lanka was discussed. High Commissioner reiterated Pakistan’s support for continuation and consolidation of democratic process in SL. He expressed the hope that the ongoing political situation will be overcome peacefully and amicably in accordance with the constitution and aspirations of SL people. more..

Nov 1 (AD) Another group of MPs have sworn in before President Sirisena a short while ago. MP Duminda Dissanayake was appointed as the Minister of Irrigation, Water Resources and Disaster Management. Meanwhile, MP Dayasiri Jayasekara has sworn in as the Minister of Skills Development and Vocational Training. Cabinet of Ministers: Piyasena Gamage: State Minister of Youth, Women & Child Affairs; more..

Nov 1 (DM) Parliament would reconvene on Nov 16 as per the Gazette issued by President Maithripala Sirisena and not on Monday, Nov 5, UPFA MP Susil Premajayantha said today. Earlier yesterday, PM Mahinda Rajapaksa said President Sirisena would likely to reconvene Parliament on Nov 5 instead of Nov 16. However, MP Premajayantha said at least three working days were required to reconvene Parliament once it was prorogued. “Therefore, Parliament cannot be reconvened on the 5th. more..

Nov 1 (CT) MPs who went against their own Party and crossed over can be considered as patriots, said Western Province Chief Minister Isura Devapriya. Speaking at a Media conference today, at the WPC premises, he said that those who crossed, over did so not due to greed to pocket millions or due to hunger for ministerial portfolios, but because they put the country first. “No foreign country donated millions to PM Mahinda Rajapaksa or Prez Maithripala Sirisena to poach MPs. more..

Nov 1 (EN) Sri Lanka will slash income taxes on professional services to 14%, the value added tax threshold will be doubled for small traders and wholesalers, the finance ministry said. A tax rate of 14% tax rate for agriculture businesses will be made available to individuals engaged in farming, bringing their rate down from 24%. A concessionary tax rate of 14% on SME categories will be "extended to include individuals including those providing professional services," the statement said, more..

Nov 1 (SKY) The ECB and Sri Lankan Cricket Board are in discussions about potentially moving the second Test over a problem with hotel bookings. Both teams were scheduled to stay at a hotel in Pallekele secured by the Sri Lankan board - the Earl's Regency - but that has now been double booked. That would mean one or both of the teams staying in accommodation some way outside the city, presenting serious logistical and security concerns. more..

Nov 1 (USE) Ambassador Alaina Teplitz officially began her tenure as the U.S. Ambassador to SL today after presenting her credentials to President Sirisena. The ceremony was held at the President’s official residence. Ambassador Teplitz was accompanied by her husband, Robert Saul. “I am honored to serve as the U.S. Ambassador to SL at this critical moment for the country and region. For 7 decades, the US has supported SL more..

Nov 1 (AFP) Rival Asian giants India and China are anxiously watching the constitutional conflict between contending PMs in SL to see whose interests get the upper hand in their own strategic battle. It is the second time in barely a month that the Indian Ocean has become a battleground between the powers, after the Maldives' hotly disputed presidential election saw the eviction of a pro-Chinese leader. Both may be minnows compared to the two giant neighbours that more..

Nov 1 (EN) Sri Lanka's finance ministry said budget targets could be met in 2018 despite tax cuts, announced Thursday, by trimming capital expenditure, after Mahinda Rajapaksa was appointed Finance Minister. "..[The] govt is confident that the primary surplus of 1.8% of GDP and the budget deficit of around 4.9% of GDP that have been targeted for 2018 could be achieved in support for further fiscal consolidation to provide economic stability," the Finance Ministry said. more..

Nov 1 (DM) The price of a litre of Petrol had been reduced by Rs.10 while a liter of Auto Diesel was reduced by Rs.7 with effect from midnight today. Accordingly, a litre of petrol will be sold at Rs.145 and a litre of auto diesel will be Rs.116. Lubricants including the 2T lubricants used in three-wheelers and small agricultural engines have been reduced by Rs.10 per litre. A cost-based pricing mechanism will be implemented on fuel in place of the monthly fuel price formula. more..

Nov 1 (DM) Field Marshal Sarath Fonseka, who was highly critical on the newly appointed Minister Wijeyadasa Rajapakshe said what he said about him in the recent past had come true today. “I disclosed in Parliament that Mr Rajapakshe was trying to sweep the Avant-Garde case under the carpet. I also told the people in Maharagama not to vote for him as his heart was with Mr Mahinda Rajapaksa. Therefore what I have said about him had come true,” Fonseka said. He refuted the statement made by President Sirisena more..

Nov 1 (PTI) More than 3,000 Indian fishermen from Tamil Nadu were chased away by the SL Navy, who also hurled stones at them and snapped fishing nets of 50 vessels for fishing in their territorial waters. Rameswaram Fishermen Association President, P Sesuraja said fishermen from this town and Mandapam region had ventured into the sea Wednesday morning in over 700 mechanised boats and were fishing near Katchatheevu when SL naval personnel arrived there and threatened them. more..

Nov 2 (CT) Now, the forecasted GDP growth is less than 4% which is well below the expectation. The country is in a severe debt crisis which led to an unstable domestic currency, the rupee. What was required was to correct the matrix of macroeconomic fundamentals which would have justified the roll-over of foreign loans to get over with the imminent crisis. It’s true Ranil Wickremesinghe did not do it but careful intervention might have made him to work towards that goal because he was more..

Nov 2 (CT) Regardless its constitutionality or otherwise (which we shall come to presently), what took place on Oct 26, 2018 was an affront to the fundamental tenets of democracy. It smacks of political machinations which, although orchestrated in the name of the people (as is common) is about securing & protecting political futures of individuals. On Oct 30th, people gathered in Colombo to protest what they believed was a travesty of justice and a subversion of democracy. more..

Nov 2 (Roar) When was the last time you played Athuru Mithuru? Many of us recall it as a game that everyone in the family can enjoy; everyone from the youngest to the youngest at heart. Inspired from that same tradition of inclusivity and togetherness, Athuru Mithuru is now also the name given to SL’s first ever free trilingual AAC app. AAC, short for Augmentative and Alternative Communications, refers to an effective more..

Nov 2 (GV) There have been intense public debates over the meaning and interpretation of the Constitution, and especially the far-reaching changes introduced by the 19th Amendment in 2015, since the dramatic and ongoing attempt at an unconstitutional transfer power that began on the evening of 26th Oct. Unfortunately, the discussion has been clouded by the attempts of those who are trying to uphold the approach taken by Maithripala Sirisena & Mahinda Rajapaksa, more..

Nov 2 (Island) Cassandra shivers, she shakes, she quakes. Not with malaria that is raising its grim selfafter the pernicious Anopheles mosquito gained immunity to DDT and subsequent poisons to it. Taking a cue from Sri Lankans, why doesn’t the Anopheles and Culex battle among themselves and destroy each other? Not they! Not even the smallest of insects will set upon their kind and suffer mutual destruction. The rest of the animal kingdom leaves such utterly foolish and suicidal acts of more..

Nov 2 (CT) President of the Yuthukama Sanwaada Kavaya (Responsibility Discussion Circle) Gevindu Kumaratunga says PM Wickremesinghe failed to fulfil pledges given on 8 Jan 2015. “The new govt came into being to halt the huge destruction that was taking place under the Yahapalana Govt”. Q: What is your opinion on the National Govt and the appointment of the new govt, as a representative from the Yuthukama more..

Nov 2 (DN) Department for Registration of Persons (DRP) is working on a project to establish a National Persons Registry and to issue a new Smart ID or electronic ID. This is not a simple process of digitising the existing ID – it includes the creation of a vast identity database system granting wide powers to the Commissioner-General, his officials and other authorities to collect and record any personal details at their discretion. An examination of the available information reveals that more..

Nov 2 (Island) A major point of great significance being debated in Sri Lanka these days is the validity of the actions of Sri Lanka’s president to sack his prime minister and swear in a replacement. President has claimed a few times that his actions are entirely in accordance with the constitution. He has also clarified that prior to his action on October 26, he obtained legal advice. President Sirisena, unlike his sacked prime minister, is not well versed with constitutional law. more..