Aug 14 (CT) Why is the Russian economy not crumbling despite sanctions? In an analysis carried in Quora.com French economist Jacques Sapir wrote: ‘The reason for this miscalculation is exchange rates. If you simply convert Russia’s GDP from rubbles to dollars, you see it as an economy only as large as Spain’s. However, such comparisons are spurious without adjusting for Purchasing Power Parity (PPP) which accounts for productivity and living standards, and more..

Aug 14 (TM) For a well-read man like the incumbent interim President of Sri Lanka, the words of Henry David Thoreau must surely be echoing in his mind as he imposes one restrictive measure after another in order to put the lid on a people’s movement, of which he has been the main beneficiary on the one hand, and to create the conditions for introducing harsh economic reforms that will likely further anger people on the other. Notwithstanding the Prez’s political experience and acumen, more..

Aug 14 (SO) The Sunday Observer met Foreign Affairs Minister Ali Sabry at his Flower Road Chambers in Colombo on Thursday. Minister exuded confidence in his ability to address the rising domestic political concerns regarding the country’s foreign policy. Ali Sabry has been a go-to person for problem solving for those who call the shots in SLPP. Sabri entered mainstream politics in 2020 as an SLPP member. more..

Aug 14 (CT) Whatever the background of those in the current parliament, they are aware that accepting a person such as Ranil Wickremesinghe who was rejected outright by the electorate and hence lacking legitimacy as Prez is a political kiss of death. Hence, why did the overwhelming majority in parliament vote for him to be back-door Prez knowing the circumstances under which the beleaguered then Prez Rajapaksa appointed him PM? Is not the answer self-evident? more..

Aug 14 (SO) The call by Field Marshal Sarath Fonseka and some other political entities to carry out the Aragalaya (Struggle) to the bitter end from Aug 9 – until the ouster of the new President and the Government – went mostly unheeded by an Aragalaya-weary public. Worse, even those who remained at Galle Face left the premises – some for home while others went to the Govt-sanctioned protest site at the Vihara Maha Devi Park. Fonseka himself was not seen at any of protest sites more..

Aug 14 (TM) SL needs to address long-standing issues regarding the country’s political culture and draft new economic and foreign policies to navigate towards economic recovery, JVP Leader MP Anura Kumara Dissanayake said. He said the NPP coalition was ready to lead a govt that can find solutions to the crisis the country is facing. He also acknowledged that popular public support enjoyed by them did not always provide them with more..

Aug 14 (SO) Cricket played in Parliament may have crossed the boundary with even its match officials run-out of shots and ruled out as the keepers of the sport hit back strongly over claims it fixed the shifting of this month’s Asia Cup from Sri Lanka to the UAE. Having come under yet another volume of scrutiny in Parliament this time over the forfeiture of the Asia Cup that was moved to the UAE for what was said to be logistical and security concerns, Sri Lanka Cricket (SLC) reacting to accusations more..

Aug 14 (Island) We run on this page today an article written by a retired Major General of the SL Army who argues forcefully that the Aragalaya protesters were NOT repeat NOT peaceful. Over the weeks and months of the protest, which now appears to be fizzling out, although contrary claims that it will continue persist, the Aragalaya was described by the media, human rights activists, politicians, diplomats and many more as a peaceful protest. That label stuck. A protest it was, more..

Aug 14 (Island) Recently, the Kegalle High Court Trial at Bar, on conclusion of the Dec 2018 Mawanella Buddha statue damaging case, conducted under the Prevention of Terrorism( Temporary Provisions) Act, has passed sentences of varying severity, on the accused who have admitted culpability. Three of the accused have been discharged and the cases against two fixed for further inquiry. Moving back to the period between June2014 & March2018, rioting Sinhala mobs more..

Aug 14 (TM) Sri Lanka’s once-prosperous, billion-dollar tourism industry is today struggling to attract even half the numbers it saw four years ago. The tourism industry has been suffering from successive crises since April 2019, when extremists carried out the Easter Sunday bombings in Sri Lanka. The immediate past Chairperson of the SL Tourism Development Authority (SLTDA) Kimarli Fernando recently posted recommendations on social media to sort out the issues in the tourism sector. more..

Aug 14 (ST) Public Administration Ministry earlier decided to declare Friday as a holiday for public sector employees and encourage them to engage in home gardening. Friday holiday was declared due to the fuel crisis. But, as the fuel situation improved, Govt wanted the administration to be fully functional, and the Friday holiday was withdrawn. One public sector employee, apparently unhappy about the fresh decision, more..

Aug 14 (Island) In an interview with our sister paper Divaina Online former captain Angelo Mathews admitted that he regretted Mankading of England batsman Jos Buttler in 2014 at Edgbaston. This was the tour where Mathews had skippered SL to an ODI and Test series wins in England. Teams had come into the final ODI with the series squared 2-2 and everything to play for. Buttler was run out for 21 as he was backing up too far at the non-striker’s end by off-spinner Sachithra Senanayake. more..

Aug 14 (ST) Political parties represented in Parliament met with the Elections Commission (EC) this week to discuss the feasibility of holding elections. It is understandable that the Opposition parties think it is in their favour to call for early elections given the public wrath towards the ruling coalition with the formal argument being trotted out for early elections being that this Parliament is no longer representative of the people. At the same time, there is some realisation that more..

Aug 14 (ST) Asian Cricket Council (ACC) and SLC are in a dilemma awaiting the green light from SL’s Ministry of Sports to organise the Asia Cup tournament in UAE after the ACC decided to change the venue from SL due to fuel shortages and political disturbances at the time the decision was taken. Broadcasters had raised the initial objections to the tournament taking place in SL at the time citing issues over its commercial non-viability as a result. more..

Aug 14 (SO) SL’s star sprinter Yupun Abeykoon always attributes his success to his team, particularly his Italian coach Claudio Licciardello who accompanied him to XXII Commonwealth Games along with physiotherapist Matteo Galderisi. Abeykoon is fortunate to have the expertise of the Olympian to go places in Europe in preparation for major international events. Advice he gave to South Asia’s fastest man before the men’s 100m final at Alexander Stadium, Birmingham was to relax. more..

Aug 14 (ST) For nearly three years, SLPP had been relentlessly attacking policies of the former Yahapalana govt. They had also singled out Ranil Wickremesinghe in particular since he had been the PM of that govt and the main architect of many of those policies. As such, it was rather surreal to see most of those same critics stand up in Parliament over three days and staunchly defend new Prez Wickremesinghe and the same Yahapalana policies which they had nothing but contempt for more..

Aug 14 (ST) My dear Gota maamey, It was almost a month ago that I last wrote to you, and it has also been almost a month since you left our shores hurriedly, fleeing from Prez’s House fearing for your life. It feels like much longer though, because so much has happened since then, and that is what I wanted to write to you about. I don’t know how up-to-date you are with the latest happenings in Paradise, since you must be busy making travel arrangements as you hop from country to more..

Aug 14 (ST) SL came out victorious in the crucial decider match of the Asia Oceania Zone Group IV Event ‘A’ Tennis Tournament for promotion to Group III, when they outclassed Iraq by 2-0 at the SLTA clay courts in Greenpath, Colombo yesterday. The two teams came into the final clash with unbeaten records, having taken the top spots in the two respective pools, which consisted of three teams — host SL, Kyrgyzstan and Bangladesh in Pool ‘A’ and Iraq, Brunei, Yemen and Maldives in Pool ‘B’. more..

Aug 14 (ST) Attempts are underway by a section of SLPP MPs to push for a Cabinet paper through the PM’s office recommending millions of rupees in compensation for state officials who had been subjected to alleged political victimisation under the Yahapalana govt of 2015-2019. Cabinet paper had been drafted by former PM Rajapaksa following recommendations of a committee headed by former Chief Justice Asoka de Silva. more..

Aug 14 (SO) Athlete Yupun Abeykoon attained iconic status in Sri Lanka when he became the first South Asian to break the magical 10-second barrier after winning the Resisprint International meeting in Switzerland in July clocking 9.96 seconds. It was the culmination of a tumultuous season for the 27-year-old Italy-based SL sprint star who is the national or South Asian record holder from the men’s indoor 60m to the 200m events. His epic feat at the XXII Commonwealth Games where he became more..

Aug 14 (ST) Star-studded SLC Greens led by national white-ball skipper Dasun Shanaka suffered a humiliating 81-run loss to SLC Greys while SLC Reds recorded a comfortable 33-run victory over SLC Blues in their final matches of the SLC Invitation T20 League match played at the R. Premadasa Stadium yesterday. Chasing 167 to win, Greens were bowled out for 85 runs inside 16 overs, shattering their chance of qualifying to Monday’s final with SLC Blues. more..

Aug 14 (ST) Secretary of the Ministry of Youth Affairs and Sports, Dr. Amal de Silva, revealed that stern action will be taken against the nine athletes and the manager who decamped from the Sri Lankan contingent at the Commonwealth Games 2022 which ended in Birmingham, England earlier this week. Dr. de Silva lashed out on those who brought disrepute to the country’s reputation and devalued the country’s image, more..

Aug 14 (SO) Ferentino Tyre Corporation, an exclusive Lankan tyre brand, plans to ship around 45,000 tyres within the next three months to North America, a top official of the company said last week. Elaborating on its markets and plans for them Ferentino Tyre Corporation (Pvt) Ltd. CEO Ushantha Jayalal said the company has been shipping around 12 containers a month to the North American market since commencing commercial operations early last year. “We have seen a major demand for more..

Aug 14 (SO) Tourism, along with foreign remittances offers SL the fastest, most impactful way to scale-up the country’s foreign currency reserves. To enable this, Sri Lanka Tourism needs to make some tough and radical strategic choices. According to MTI Consulting, the conventional approach to develop int'l tourism would be to first work on brand-positioning the country, then run Marcom campaigns and then let the Consumer (Tourist) respond to it. This works well when the country is in normal more..

Aug 14 (TM) The completion of the ongoing major overhaul of the 300 MW Generation Unit 2 of the Lakvijaya Power Plant in Norochcholai is now expected to be delayed by another two weeks due to a Covid-19 outbreak. Earlier, the CEB had planned to complete repairs on 31 August. However, according to the CEB, it will now be delayed by another two weeks since nearly 100 employees at the plant have contracted Covid-19. CEB Chairman N.S. Ilangakoon said the completion of more..

Aug 14 (TM) The main Opposition, SJB, has sought Prez Ranil Wickremesinghe’s agreement to get the Opposition the lead in several key parliamentary committees, which are to be reconstituted following the opening of the third session of the ninth Parliament, it is learnt. Accordingly, SJB has requested that the chairmanships of the Committee on Public Enterprises (COPE), Committee on Public Accounts (COPA), and Committee on Public Finance (COPF) be given to the Opposition parties more..

Aug 14 (Island) The CEB implements most of its power transmission and distribution infrastructure development projects like the construction of new transmission lines, transmission and distribution substations, etc., using loan funds obtained from international lending agencies such as the ADB and JICA. These concessionary loans are guaranteed by the govt, and projects funded by those loan packages are implemented more..

Aug 14 (ST) Politically and financially affected-SL is running out of options in importing discounted fuel directly from Russia following the refusal of the two of its companies sanctioned by Russian Ambassador Yury Materiy to enter into procurement agreements with local authorities this week. Energy Ministry had taken every possible step to convince the two representatives of Russian companies who visited the country last month to enter these petroleum procurement deals on favourable more..

Aug 14 (ST) Chinese People’s Liberation Army’s Strategic Support Force tracking vessel Yuang Wang 5 is heading towards Hambantota Int'l Port after the SL Govt yesterday gave permission for it to dock from Tuesday, August 16, to 22. The warship with 2,000 sailors on board used for tracking and support of satellite and intercontinental missiles was earlier scheduled to arrive at Hambantota on Aug 11 when SL having earlier given it permission to enter asked the visit be deferred until more..

Aug 14 (TM) Sri Lanka’s efforts to improve trade and conclude the planned Free Trade Agreement (FTA) with China along with the debt restructuring programme with the Chinese have been put at risk by the diplomatic dispute over the controversy surrounding the visit of the Yuan Wang 5 satellite tracking vessel to SL. This, despite reports that SL has granted permission for the vessel to call at the Hambantota Port on Tuesday (16) more..

Aug 14 (ST) SL’s welfare and social security spending will be boosted by way of financial transfers by making substantial cuts from the allocations to ministries till the end of this year and more allocations will be made next year as well, Finance Ministry sources said. It is crucial to support the sections of the population who lost incomes and were plunged into poverty due to pandemic-induced restriction and such spending must be highly targeted to make the most of such monies more..

Aug 14 (ST) Public sector officials have been advised to strictly adhere to a Treasury circular on limting govt expenses, and warned that those failing to follow the directive would be personally held liable. On the instructions of President Ranil Wickremesinghe, the directive has gone out from Presidential Secretary Saman Ekanayake to ministry secretaries, department heads, provincial chief secretaries, heads of corporations, statutory boards and state-owned enterprises. more..

Aug 14 (ST) Just two weeks after fleeing to Singapore, former Prez Rajapaksa, is still struggling desperately to find a country that would grant him asylum to live in safety. When he arrived in that city-state on July 14, the Singapore govt granted him a two-week visit visa, as is the practice for all visitors. That was hours before he sent in his letter of resignation after serving 31 months & 27 days from a 5-yr term as Prez. more..

Aug 15 (DM) Between Aug 5 to 7, Israel attacked residential areas in Palestine’s Gaza Strip. According to the Ministry of Health in Gaza, a wave of Israeli air raids on the coastal enclave, left civillians including children and a 23-year-old woman dead. A commander of a Palestinian armed group was also killed during the raids. The Guardian reported that Palestinian retaliatory rocket strikes injured 60 people in Israel who suffered minor injuries. Toll in Gaza however, was more..

Aug 15 (TM) For a well-read man like the incumbent interim Prez of SL, the words of Henry David Thoreau must surely be echoing in his mind as he imposes one restrictive measure after another in order to put the lid on a people’s movement, of which he has been the main beneficiary on the one hand, and to create the conditions for introducing harsh economic reforms that will likely further anger people on the other. Notwithstanding the Prez’s political experience and acumen, more..

Aug 15 (TM) Shortages of required seeds and fertilisers are resulting in poor yields for vegetable and paddy farmers, despite steps being taken to assuage the crisis. The lack of seeds and fertiliser risk negatively affecting future harvesting cycles and leading to long-term impacts for the country’s agriculture sector. Policy missteps accompanied by an economic meltdown of unprecedented proportions have taken a severe toll on more..

Aug 15 (DM) Every crisis leads to reflections about our past and debates about the way forward. The devastating crisis now is similarly a time of reflection and debates about our people’s social and economic life, and the kind of relief and social security they need. What has historically been the strengths of our society? What kind of relief should the people get during the current crisis? How should the state address the tremendous shortages and global price hikes that are affecting the essential needs more..