Nov 15 (EN) Stocks closed at a new all-time closing high on Monday, recovering from initial plunge due to panic selling in the financial sector shares over budget announcements, brokers said. On Friday, Finance Minister proposed a 25% retrospective tax surcharge on firms that earned over 2 billion rupees in 2020/21 and 3% increase on VAT for banks, insurance, and financing firms. The Finance minister said 62 individuals and companies under this category are expecting to generate 100 b more..

Nov 15 (N18) Sri Lanka wants to reclaim its ancient glory by conducting a detailed scientific research into its aviation past. Many Sri Lankans believe that King Ravana was the world’s first seasoned aviator and that during his days, the island had aircraft and airports. Dismissing the argument that these are mythological beliefs with no scientific backing, some enthusiasts have gone ahead researching on their own. more..

Nov 16 (Island) Rajeev Amarasuriya, Secretary of the Bar Association of SL has been elected uncontested to the Executive Committee of LAWASIA (The Law Association for Asia and Pacific) for 2021 / 2022. LAWASIA is a regional association of lawyers, judges, jurists and legal organisations, which advocates for the interests and concerns of the Asia Pacific legal profession. For over 50 years, LAWASIA has operated as a platform to promote the cross-jurisdictional exchange of more..

Nov 15 (CT) Minister Udaya Gammanpila launched the Manapayata Pelayak programme at the Muthurajawela Wetlands, as part of his election commitment to provide seedlings in exchange for the preferential votes he received in the previous parliamentary Election. The programme was launched on 13 Nov by supplying 136,331 saplings in exchange for the 136,331 votes he obtained at the last general Election. He said he made a promise to add a plant on Mother Earth for every more..

Nov 15 (EN) SL’s public service has been mis-managed by politicians by unplanned recruitments and the extension of the retirement age will compound the problem, opposition leader Sajith Premadasa said. “We oppose the move to blame state workers because the problem in the public service was created by opportunistic actions of the govt,” Premadasa said in a statement. “It is the govt itself which had made the public service more..

Nov 15 (AD) Director General of Health Service has issued a new set of health guidelines for public and work-related activities effective from Nov 16 – 30, 2021. According to the new guidelines, tuition classes can resume for O/L & A/L students with 50% of the usual seating capacity of classes. It also says that public gatherings, meetings, events are not permitted until further notice unless prior approval is obtained from the Proper Authority for whole of SL except activities mentioned below. more..

Nov 15 (Island) A new survey confirms that the Eppawala phosphate deposit, covering an area of four square kilometers, contains 25 million tonnes of the raw material enough to meet the country’s needs for 100 years. The new survey was carried out to make effective use of this natural phosphate deposit here to provide phosphate fertiliser for organic agriculture, implemented by Prez Rajapaksa and steps would be taken to submit the report to the Cabinet and Parliament, more..

Nov 16 (DM) Despite the current economic situation in the country demanding a drastic revolutionary change, the budget proposals presented for the year 2022 by Minister Basil Rajapaksa on Friday are not going to change anything in a manner that would at least arrest the current trends of sagging revenue and mounting expenditure of the govt. It did not suggest solutions to the foreign exchange crisis the country is currently faced with or the looming food crisis stemming from the recent ban on more..

Nov 16 (ST) As this is being written Finance Minister Basil Rajapaksa is presenting his maiden budget to Parliament. What further shocks await a hapless public already struggling under constantly rising food prices, shortages including household requirements such as gas to keep the home fires burning will be known by the time this appears. It might be recalled that President Gotabaya Rajapaksa warned a while back that the country must be prepared for further hardships. So if fuel prices are jacked up more..

Nov 16 (DM) Following the success of last year’s #BudgetCheck, FactCheck.lk by Verité Research carried out live fact checking on claims made by Finance Minister Basil Rajapaksa in his 2022 Budget Speech on Nov 12, 2021. The team fact checked a total of nine statements from the Budget Speech. Of these, four statements were graded True, three False, one Partly True, and one Blatantly False. more..

Nov 16 (CT) Futuristic and people centric and non-traditional are the advertising captions given by Minister Basil Rajapaksa to his maiden budget for 2022. In fact, every budget is futuristic in the sense that a budget always speaks about intentions and means of realizing them over a certain period in the future. What is so unique about this budget’s future? At the same time and as expected there is very little in it to ease the punishing economic pain suffered by practically every ordinary household more..

Nov 16 (DM) The donations received by this hospital are said to be mismanaged by a certain group that has affiliations to the ruling party trade union. Even the dry rations supplied by the donors for the inmates’ breakfast and lunch are alleged to be taken away from the hospital kitchen; depriving each patient the quantity of food recommended by the nutritionist. Although these vagaries have been informed to the Health Ministry, in writing, by the hospital staff, Ministry’s failure to hold more..

Nov 16 (IPS) Dr Dushni Weerakoon: Budget 2022 appears to be more of a stop-gap budget rather than one that sets out a framework on how revenues will continue to be mobilised and deficit financing requirements met over time. It seems that the got is hedging its bets on economic growth creating revenues, but with inflation set to rise in the coming months, and govt fiscal financing from the banking sector set to be even higher at 2.7% more..

Nov 16 (TM) The root cause of a significant share of social issues is differences between people and ideologies, and it is human nature that we rarely tolerate other people’s opinions that do not resonate with our own. However, this diversity is what propels a nation forward, because it helps us see new and better ways to look at things. Today (16) marks the International Day for Tolerance, which the United Nations (UN), the entity that declared this day in 1996 at its General Assembly, said is more..

Nov 16 (CT) This is when comparing revised budgetary numbers presented for this year (2021) together with the new budgetary numbers for the next (2022) by Minister Basil Rajapaksa on Friday, when compared with the original Budget 2021 numbers passed in Parliament on 10 Dec 2020. Budget 2021 was presented by Rajapaksa’s elder brother Mahinda, the PM, who was also the then Finance Minister. For instance, Budget 2021 passed in Parliament envisaged a tax revenue of more..

Nov 16 (DM) There is some sunshine falling through now, despite a grey sky. Whole of last week was about flash floods and landslides in most parts of the country. At the second reading of the budget, State Minister Chamal Rajapaksa told parliament, during the past 10 months 106 people have died of natural disasters, while it was 65 the previous year. A few days ago, while the sky was pouring heavy, on Nov 9, 2021, District Secretary of Kegalle announced four deaths due to a landslide in Dombemada more..

Nov 16 (Island) To overcome the problems due to the present economic crisis and Covid 19 pandemic the revival and development of industries in Sri Lanka is vital. On this World Science Day I’m very happy to deliver the keynote address at the fifth ITI Biennial Research Symposium to make my contribution to on the above theme, and I thank the organizers for providing me with this opportunity. The evolution and development of human society has been a result of the application of more..

Nov 16 (FT) The Central Bank Governor Ajith Nivard Cabraal yesterday expressed confidence in Budget 2022 ushering growth with stability in 2022 aided by stronger policy implementation. Speaking at the first physical Post-Budget Forum jointly organised by the Daily FT and the Uni of Colombo MBA Alumni Association, Cabraal acknowledged that bold steps have been taken to steer the stability once again. more..

Nov 16 (TM) The management team of the Senkadagala Motor Sports Club (SMSC), which is a newly-formed motorsports club by some experienced riders and drivers in the country along with some motorsports lovers in the hill capital in association with the SL Motor Cycle Club (SLMCC), has now finalised all arrangements to conduct the most looked-forward-to CEAT Kotmale Speed Hill Climb in December. The hill climb will be held in the month of December with 10 Dec being more..

Nov 16 (Island) Being in print for four long decades is no mean achievement for any newspaper. The Island passes that milestone, today. Ours has been an arduous journey amidst numerous obstacles, and future challenges are unnervingly daunting, but our long walk shall continue. It is time for reflection and not glorying in achievements. We, however, do not intend to reminisce, in this space, of what we have done during the past eventful 40 years. Instead, we wish to discuss some contemporary issues more..

Nov 16 (CT) US Department of Defence released a report titled Military and Security Developments Involving the People’s Republic of China on 2 Nov 2021, citing that China has likely considered setting up a military base in SL and this had been coming as Beijing has been projecting its power far beyond the Chinese mainland. With the defeat of US President Trump last year, many thought US Prez Joe Biden would more..

Nov 16 (FT) SriLankan Airlines has appointed Richard Nuttall as its Chief Commercial Officer (CCO). Nuttall, an aviation industry specialist with over three decades of experience, has held various senior management positions at many leading airlines and entities. His expertise and experience range from airline turnaround and growth, strategy development, digital strategy, mentoring, global leadership, revenue management, network planning, airline distribution and sales. more..

Nov 16 (FT) The Commercial Bank of Ceylon Group said yesterday it has achieved characteristically equitable growth for the nine months ending 30 September 2021, despite a slowing down in some key contributors in the third quarter of the year. The Group, comprising the Commercial Bank of Ceylon PLC – Sri Lanka’s largest private sector bank – its subsidiaries and an associate, has reported a gross income of Rs. 120.050 billion for the period, an improvement of 5.66% more..

Nov 16 (Island) Viren Nettasinghe and Panchali Adhikari clinched the men’s and women’s singles crowns at the Western Province Badminton Association (WPBA) – organised Open Ranking Championships which marked the return of competitive badminton action at the MBA and Otters Courts over the weekend. Nettasinghe beat Dumindu Abeywickrama 21-14, 22-20 in the men’s singles final while Adhikari overcame her counterpart Ranithma Liyanage in a thrilling final more..

Nov 16 (CT) SL will look to put up an improved performance when they take on Bangladesh today (at the Race Course Stadium at 9 p.m.) if they are to stay alive in the Four Nations – PM Mahinda Rajapaksa Trophy. SL are lagging at the bottom of the points table with just 1-point, while Bangladesh are leading the table with 4 points after a draw against Seychelles and a famous win against Maldives. Two sides last met in the recently concluded SAFF championship where more..

Nov 16 (CT) SJB MP Harshana Rajakaruna and Chief Govt Whip Johnston Fernando locked horns in Parliament yesterday when Rajakaruna accused the Govt of misusing COVID-19 health guidelines to suppress protests against the authorities for failing the public. Referring to the SJB protest scheduled to be held today in Colombo, Rajakaruna alleged that although the authorities were eager to get Injunctions against more..

Nov 16 (FT) In a year marked by challenging operating conditions, Bank of Ceylon reiterated its position as the undisputed market leader in Sri Lanka’s banking sector, demonstrating its unparalleled ability to truly support its customers and the overall economy in trying times. Preserving its market leadership, Bank of Ceylon has delivered unrivalled performance during the nine months period ended 30 September 2021 while surpassing Rs. 3.5 trillion in its assets base. more..

Nov 16 (FT) The rebound at the diversified Softlogic Holdings PLC is continuing with robust first-half performance. Consolidated revenue recorded a strong growth of 46% to Rs. 52.6 billion during 1HFY22 with the quarter registering a commendable growth of 29% to Rs. 28.1 billion. Operating profit for the six-month period recorded a two-fold increase to Rs. 5.9 billion while the quarter witnessed an increase of 41% to Rs. 3.6 billion overcoming numerous systemic challenges. more..

Nov 16 (TM) A total of over 24,160 dengue cases have been reported so far this year, according to National Dengue Control Unit (NDCU). 1,836 cases were reported by the end of the second week of November and that 826 of such cases were reported in the first week of the month. So far in November, 631 cases have been reported in the Colombo District, 430 in the Gampaha District, 183 in the Kalutara District, 97 each in the Kandy more..

Nov 16 (FT) COVID-19 vaccines were administered to 18,454 persons on Sunday and 93.5% of the population over the age of 20 has received both doses of a COVID-19 vaccine. The first dose has been administered to 73.84% of the total population and 63.49% of the total population has received the second dose as well. 15,876,907 persons have received the first vaccine dose and 13,665,555 persons have received the second vaccine dose. A third or booster dose using Pfizer COVID-19 more..

Nov 16 (FT) Sri Lanka’s COVID-19 detections rose to 552,274 with 732 persons testing positive for COVID-19 yesterday. The patients detected yesterday include 731 persons from the New Year cluster and one overseas arrival. On Sunday, 697 persons tested positive for COVID-19 and the detections include 695 persons from the New Year cluster and two SL overseas arrivals. 6,223 PCR tests and 3,111 rapid antigen tests were performed on Wednesday. more..

Nov 16 (DN) SL women's cricket Head Coach Hashan Tillakaratne is confident that his team can qualify for the Women’s Cricket WC 2022 in NZ from March 4 to April 3, 2022. SL 17 member women's cricket team left yesterday to take part in the world cup qualifying tournament in Zimbabwe which will commence on Nov 23. Before the tournament, SL will be playing against Bangladesh in the practice game on 19. followed by the first qualifier tournament game against Netherlands on 23. more..

Nov 16 (DN) Ambition Health Care Beijing, China, a manufacturer of health care equipment and into advanced medical technology systems will invest USD. 25 million in Sri Lanka to set up a unique cancer detection center. This would be the first time such a center is being set up in the South Asian region. “After six months’ operation we hope to set up a manufacturing plant in Sri Lanka investing around USD 100 million,” said Chairman, Ambition Health Care Beijing, Dr. Fred Sun said. more..

Nov 16 (Island) CEB had lost nearly eight billion rupees savings due to the lackadaisical attitude of the Dispatch Dept, energy experts said. Rantembe, Victoria, Kotmale and Randenigala reservoirs are overflowing. Nearly 350 GWh were lost from Victoria Randenigala and Rantembe as per estimates in Nov 2021, Energy Analyst Dr. Vidhura Ralapanawe pointed out. He the figure was much higher when other reservoir overflows more..

Nov 16 (TM) After giving Health Ministry officials an ultimatum of one week to seek an answer for their demands, including those pertaining to eliminating the anomalies in promotions and the issuance of promotion-related circulars, and increasing special allowances, 16 health sector trade unions have decided to stage a protest in front of the Health Ministry tomorrow (17) whilst announcing a two-day strike from 23 November. Govt Nursing Officers’ Association (GNOA) President more..

Nov 16 (TM) Medicine prices in Sri Lanka have risen over the past two weeks as there is no control over the price of certain drugs at present, according to National Organisation for the Protection of Patient Rights Chairman Dhammika Edirisinghe. He blamed the alleged unavailability of such in hospitals as well as pharmacies, charging varied and exorbitant prices. “The present situation is worse than we think. Most of the people are unable to take their medicines from the hospitals. more..