Feb 26 (FT) Amana Bank celebrated a decade of people-friendly banking in 2021 and concluded the landmark year on a high note, crossing the Rs. 1 billion milestone in Profit Before Tax (PBT), becoming one of the fastest banks in SL to reach this landmark. Despite challenging economic conditions that prevailed throughout 2021, Amana Bank showcased resilient performance through a significant growth of 42% in PBT to reach Rs. 1.08b compared to Rs. 761.4m recorded a yr ago. more..

Feb 26 (FT) So, further meltdown abounds in the global COVID cuckoo narrative. Despite doubtless the best masking and boosting protocols imaginable, the Queen of England has COVID, and not only the Surgeon General of the US, but his entire immediate family – wife and children! So much for the farce of jabbing and masking. And then fresh disclosure, straight from the hallowed NY Times, the US CDC admits it withheld a large portion of the COVID data it collects! So, they don’t trust the public, more..

Feb 26 (FT) Article 3 of our Constitution states: In the Republic of Sri Lanka sovereignty is in the People and is inalienable. Sovereignty includes the powers of Govt, fundamental rights and the franchise. Article 4, which goes into more detail, describes powers of Govt as legislative, executive, and judicial. Article 4(d) requires all organs of Govt to respect, secure, and advance the fundamental rights declared and recognised by the Constitution. They shall not be abridged, restricted, or more..

Feb 26 (EN) SL’s official remittances in Jan 2022 were down 61.6% from a year earlier to US$ 259.2 million, data showed, as worker sent money through unofficial channels at a higher parallel exchange rate. SL is trying to enforce a peg at 200 to the US dollar, but money printed to keep interest rates low and exchange controls which come in the wake of liquidity injections have pushed the price in the unofficial market to around 248 to the US dollar, and the Hawala/Undiyal rate even higher. more..

Feb 26 (EN) Private bus owners in SL have warned of an imminent collapse of public transport in the country if the govt does not immediately address fuel shortages. President of the LBPOA Gemunu Wijeratne said that filling stations islandwide have imposed a 2,000-rupee cap on the diesel sold to private buses. “This is not practical, because a bus needs about 6,000 to 7,000 rupees worth of diesel a day to operate short distances. more..

Feb 26 (GT) SL national Tuan, 45, from Dubai, was excited when he received a screenshot from a colleague informing him that he won the Mahzooz Raffle Draw. “My wife encouraged me to participate in Mahzooz after she read winners’ stories in the newspaper and was impressed that Mahzooz donates water to those in need on behalf of participants,” says the sales executive. Although he’s lived in Dubai for 16 years, Tuan has always believed that eight is his lucky number and more..

Feb 26 (TM) Ministry of Tourism says nearly 4,000 Ukrainian tourists remain in Sri Lanka at the moment. According to the ministry, the validity of visas for these tourists is expected to expire in 30 days. However, after taking into account the ongoing violent conflict in Ukraine following the invasion launched by Russia, the ministry has directed relevant travel agents to assist these Ukrainian tourists to extend their visas if they wish to stay on the island nation more. more..

Feb 26 (UN) Sri Lanka has taken steps towards legal, institutional and security sector reforms, but more action is still needed, according to a report issued on Friday by the UN human rights office, OHCHR, which examines developments over the past year. Although UN Human Rights High Commissioner Michelle Bachelet has recognized the authorities’ efforts to initiate reforms, the report said that she has also expressed deep concern more..

Feb 26 (FT) The BOI has entered into an agreement with Associated Advanced Rubbers (AAR), to manufacture advanced rubber material for direct and indirect export. The project will commence with an initial investment of $ 5.85 million and will establish its manufacturing facility in Gatahetta, Avissawella. The agreement between BOI and AAR, was signed by BOI Chairman Raja Edirisuriya, AAR Chairman Shazni Kamardeen and AAR Managing Director Muhammmed Arshad Iqbal. more..

Feb 26 (CT) Eleven parties in the coalition Govt are set to launch Mulu Ratama Hari Magata (The whole country on the right path) at Monarch Imperial Hotel in Kotte at 3.00 p.m. on 2 March. This manifesto has been put forward to find a solution to the current economic crisis. The coalition parties said they hope to create an economic model of social justice that will provide economic opportunities to the majority of the people through this proposal. Democratic Left Front, Lanka Sama Samaja Party, more..

Feb 26 (SLA) SL Army Sergeant J.A.C Lakmal of Commando Regiment and Corporal Y.D.I Kumara of SL Army General Service Corps won the Gold Medal in (67 kg) weight category and the Bronze Medal in (55kg) weight category respectively in the ongoing International Weightlifting Championship - 2022 in Singapore and qualify to represent the forthcoming Commonwealth Games in Birmingham, England. Three weightlifters of the SL Army Body Building, Weightlifting and Powerlifting Committee, more..

Feb 26 (ST) Welimada farmers, most of whom grow on small plots, and who had been compelled to use substandard organic fertiliser made available by the govt are demanding financial compensation for crop losses from their vegetable and potato fields. Welimada DS area is the biggest potato producing area in the Badulla District. Experienced farmers and agricultural experts have pointed out that the use of organic fertiliser for crops that can be harvested in less than 90days is not effective more..

Feb 26 (FT) Following are excerpts from UNP Leader and Former PM Ranil Wickremesinghe’s speech recently at the Sri Lanka Communist Party organised ceremony to mark SL-China diplomatic relations and the 100th anniversary of the Communist Party of China. I must first thank the General Secretary of the SL Communist Party for inviting me and others to commemorate this occasion which is written to mark one of more..

Feb 26 (FT) Ceylon Chamber of Commerce (CCC) has launched the 7th edition of its flagship annual Outlook Report for 2022 at the Economic Outlook 2022 webinar. Titled Road to Recovery: Overcoming Challenges, the report covers key fundamentals of the global and local economic outlook, policy outlook, and private sector perspectives for the year 2022. This year’s report addresses pressing themes in the current economic context, including economic growth prospects, inflationary pressures, more..

Feb 26 (Island) Auditor General W.P.C. Wickramaratne says the National Audit Act and the Standing Orders 120 and 121 of the Parliament should be amended to curb waste, corruption and irregularities in the public sector. Wickramaratne emphasised the urgent need to address the issue at hand as the country experienced the worst-ever post-independence economic downturn. Wickramaratne said that he had recently discussed ways and means of addressing the issue with more..

Feb 26 (EN) Fisherfolk from across SL stood in solidarity with their peers in the north on Thursday (23), protesting what they called illegal fishing by Indian nationals in SL waters. Fishermen from 18 districts took part in a protest held outside the Fort Railway Station and marched to the Lipton Circus nearby calling for an end to the alleged poaching and outlawed practices such as bottom-trawling. The protest was organised by more..

Feb 26 (AD) A female who operates the drug syndicate of the notorious criminal figure Dematagoda Chaminda has been arrested with narcotic substances. She was identified as a 47-year-old named Michael Elizabeth Mary alias Kudu Mary, a resident of Maligawatta area. The suspect was taken into custody by the Colombo Crimes Division at a home unit in Laksiri Sevana apartment complex in Dematagoda. Police have seized 100g & 75mg of narcotic substances worth Rs. 2 m more..

Feb 26 (DN) The UNP will launch a constituency level membership promotion and a propaganda campaign with the objective of making people aware that the Party is the only alternative to rescue the country from the current economic crisis. The constituency level UNP membership promotion and propaganda campaign will commence on March 12 and 13. UNP General Secretary Palitha Range Bandara said that the purpose of this programme was to make the people understand that more..

Feb 26 (EN) CPC will be able to keep a steady supply of furnace oil for power generation from March 3, if a letter of credit can be opened and paid on time, Minister Udaya Gammanpila said. At the moment many CEB power plants which usually run on furnace oil are using auto diesel which has reduced diesel available for transport. As a result both power and transport sectors are disrupted. “Under a tender floated for furnace oil a stock of 30,000MT is due to arrive on March 03,” more..

Feb 26 (AD) The Commercial Bank Group has ended 2021 with gross income of Rs 163.675 billion, an improvement of 7.70%, with interest income accounting for more than 80% of the top line in a year of mixed fortunes. The Group, comprising the Commercial Bank of Ceylon PLC – SL’s largest private sector bank – its subsidiaries and the associate, reported interest income of Rs 132.818 billion for the year ended 31st December 2021, reflecting a growth of 7.04%. more..

Feb 26 (CT) As the Russia-Ukraine war escalates, Russian Embassy in Colombo, on 25 Feb, said Ukraine ignored international agreements and treaties, starting from April 2014 and the Ukrainian Security Forces have opened heavy fire on settlements in Donbas, which caused casualties and injuries among thousands of civilians not involved in the military conflict. Russian Prez Vladimir Putin, in his 24 Feb speech, more..

Feb 26 (CT) The IGP has been instructed to launch a probe into SJB MP Harin Fernando bringing three torches into the Parliament Chamber on Thursday (24), and action against the incident would be announced after the report is received, Speaker Mahinda Yapa Abeywardena informed Parliament on Friday (25). He made this remark, when Leader of the House Dinesh Gunawardena and Chief Govt Whip Johnston Fernando requested Speaker to call a Party Leaders’ meeting over the incident. more..

Feb 26 (CT) While appreciating UNP MP Ranil Wickremesinghe for suggesting solutions to the current economic crises, Minister Udaya Gammanpila yesterday, urged Opposition Leader Sajith Premadasa not to behave like a Montessori kid to take political advantage out of the crises. Responding to a statement made by Opposition Leader Sajith Premadasa under Standing Order 27/2, Gammanpila said Premadasa and his party should first understand that it is motherland more..

Feb 26 (ST) The insurers of stricken container vessel X-Press Pearl have asked the Govt to give them time till April to complete a full assessment of damage claims for the fisheries sector. The initial damage assessment made by the vessel’s insurers involved only a small sample of those who were affected in the three districts of the Western Province, State Minister Kanchana Wijesekara said. “A team from the insurers is here. more..

Feb 26 (DM) SL is bracing for what could be a major impact to the already unstable economy as a result of the crisis in Ukraine. Russia’s military operation in Ukraine is expected to hit SL’s tourism sector as well as tea exports and the purchasing of oil. Foreign Secretary Admiral Jayanath Colombage said that the most number of tourists to SL arrived from Russia and Ukraine in the recent past. He said that SL is expecting arrivals from those countries to be affected as a result of the crisis in Ukraine. more..

Feb 26 (Island) There is a risk of groundwater depletion in the future due to unrestricted groundwater extraction, a National Audit Office report, titled Evaluating the Legal Mechanism and Its Functionality of Ground Water Management in SL has said. Audit Office has said that there is a risk of increasing contamination of groundwater due to the use of agrochemicals and various other activities. The report says there is a lack of existing legal provisions for the protection of groundwater. more..

Feb 27 (CT) Power cuts make life miserable. If you rely on a desktop computer as I do for news, Netflix, MS word and windows power cuts make misery into something painful called melancholy. In such a state of mind I called a friend on Friday 25th February who lives in Bambalapitiya. He told me that his electricity was not interrupted through the week. Another friend living in Kollupitiya confirmed that residents in Colombo-3 also shared this good fortune. In the not so mainstream but more..

Feb 27 (CT) As Russia launches a war against Ukraine, the world's attention has been drawn to that region. Amid the US’ challenges of containing China, where Beijing has mapped out a detailed plan to maintain control of the Indo-Pacific, the US and its allies are aiming to play a larger role than ever. The US will face serious foreign policy difficulties relating to Russia’s war, in addition to being focused on the Indo-Pacific region and the Indian Ocean region and the US announced last month about more..

Feb 27 (SO) State Minister Dr. Nalaka Godahewa said that there is no threat whatsoever to the stability of the Govt. The State Minister in an interview with the Sunday Observer said when there is a coalition Govt in power, there are always conflicts which have to be managed. The coalition parties of the Govt maintain different ideologies. They have come together for the election and form a Govt, but their ideologies remain different on more..

Feb 27 (SO) With Russia launching a widely anticipated invasion of neighbouring Ukraine, a barrel of crude oil has shot past the US$ 105 mark for the first time since 2014, the year in which the seeds of the present conflict were sown with Russia’s annexation of Crimea. Russia is the second biggest seller of oil by volume behind Saudi Arabia and the price rise was more or less expected. The price of oil has been on a steady upward course along with the gradual recovery of the world more..

Feb 27 (TM) On 16 June 2020, a former Chief Economist of the World Bank, Kaushik Basu, made an interesting observation on his Twitter account. It read: “When the Indian Ambassador to the USSR showed Stalin the map of India, Stalin pointed to SL and asked, ‘What is the name of this tiny Indian island?’ The Ambassador said, ‘This is not an Indian island. It is SL, an independent nation.’ Stalin looked puzzled: ‘Why?’” It is SL’s good fortune that India has not had the same imperialistic more..

Feb 27 (Roar) The reigning currency of the early-2000s entertainment industry may as well have been DVDs. More accessible, of higher quality and more conveniently sized than the VHS cassettes that preceded them, the advent of DVDs put movie magic within reach of anyone who had a DVD player, a TV and a composite cable, or even just a laptop with a DVD drive, at home — which, by the late 2000s, were most working and more..

Feb 27 (Island) As conditions in the country rapidly descend into mayhem with very little prospect of short term resolution, external developments such as what’s going on in Ukraine add to the gloom. Although we are notorious for our short memories, readers may remember (or deserve to be reminded) of the eerie similarity of the situation during our civil war period when India, out of compulsions similar to those of Russia today, brazenly interfered in the domestic affairs of our country. more..

Feb 27 (Island) What was once Cold War is now all hot air. Today’s Russia is not the Soviet Union, and when the Soviet Union dissolved itself in 1991, it also removed the reason for NATO’s being. Except that after the dissolution, Russia was recognized as the legal successor to the Soviet Union and its int'l commitments including debts and assets. Ukraine wanted a part of it, but it was brushed aside and had its nuclear arsenal, the world’s third in numbers, jointly neutered by world’s first 2, US/Russia. more..

Feb 27 (ST) My dear Pujith and Hemasiri, I am writing to both of you because you were acquitted of all charges against you with regard to those deadly Easter attacks some three years ago. I am sure you must be very happy about this, but it makes us wonder even more about why those attacks occurred and who the mastermind behind them was. Pujith and Hemasiri, when the verdict was announced, we would have expected you to come out of court and say something triumphant more..