Jan 11 (CT) A top emerging-market money manager who scooped up gains with Ecuador’s restructured bonds is now waiting for SL to default to load up on the nation’s debt. Carlos de Sousa, who oversees a US$3.8 billion developing-nation bond fund at Vontobel Asset management in Zurich, expects the South Asian country to run out of money to pay creditors by mid- year, even after the Central Bank vowed to meet this month’s obligations. The Venezuela-born investor already owns bonds more..

Jan 11 (CT) Three male bodies were found in three different locations in Colombo city yesterday, in a span of 24 hours. Two unidentified male bodies were found on the Wellawatte and Bambalapitiya beaches last morning. The body found on the Wellawatte beach was taken to the Kalubowila Hospital morgue. Wellawatte Police launched an investigation. The other was also taken to the Kalubowila Hospital and Bambalapitiya Police were investigating. The body found on the Wellawatte beach may be more..

Jan 11 (TM) Power Minister Gamini Lokuge said that the public need not be concerned about daily power outages as of now, as all measures have been taken to prevent power shortages from taking place in the country, even as the CEB published a power cut schedule on its official website. “Permission was obtained from the Public Utilities Commission of SL (PUCSL) to go for power outages only in the case of emergencies. more..

Jan 11 (FT) You committed in the oath of office to comply with your duties and responsibilities as President in an honest manner and as per the Constitution and the law of the country. The Constitution you agreed to safeguard and follow states: “In the Republic of SL sovereignty is in the People and is inalienable; and that the executive power of the People shall be exercised by the President of the Republic elected by the People”. Thereby it becomes your inalienable duty to safeguard and protect more..

Jan 11 (FT) My last article was to be continued covering the Economic Recovery program. Today this has become a hot topic discussed by many. Before we address the subject, it would be prudent to take a look at the reference made by the World Bank Overview update of 7 October 2021 about Sri Lanka, quoted below. “Growth is expected to recover to 3.3% in 2021, but the medium outlook is clouded by pre-existing macro-economic weaknesses and the economic scarring from the COVID-19 pandemic. more..

Jan 11 (AD) Electricity supply will not be disrupted anywhere on the island today, says the CEB. On Monday, the CEB published a manual load shedding schedule which includes the times and areas where there could be possible power cuts in the future. It said demand management measures will be taken as per the schedule, due to inadequate generation as a result of fuel shortage and unavailability of generators. However, it was noted that all the feeders assigned to a particular group may not be interrupted more..

Jan 11 (DM) Notwithstanding the control measures in place, the number of the highly contagious Omicron COVID variant has surpassed 100 cases in SL, showcasing the variant’s higher transmissibility. Omicron began to spread in the community which becomes evident with several cases already detected from the community. The tally of Omicron cases as of yesterday, stood at 48. Health authorities are of the opinion that the number does not carry much weight as it doesn't reflect the real picture of the entire scenario more..

Jan 11 (EN) Chinese embassy in Colombo on Tuesday removed state-owned People’s Bank from a blacklist days after it made a payment for an organic fertilizer shipment that govt authorities had refused. People’s Bank settled the disputed payment of US$ 6.87 million last week to China-based Quindao Biotech Group and honoured its letter of credit (LC) for the organic fertilizer consignment ordered by the Ceylon Fertilizer Company and the Colombo Commercial Fertilizer Company Ltd. more..

Jan 11 (AD) President’s Counsel Saliya Pieris has been re-elected as the President of the Bar Association of Sri Lanka (BASL). Meanwhile Attorney-at-Law Isuru Balapatabendi has been elected as the Secretary of the BASL. They were reportedly elected uncontested for 2022/2023. Pieris had been elected as the 26th President of the BASL in February last year. In a Facebook post, Mr. Pieris said he is grateful to his colleagues at the Bar for electing him uncontested as President for a second term for 2022/2023. more..

Jan 11 (Island) The National Elections Commission yesterday recognised three new political parties for registration. They are Nawalanka Nidhahas Party by former Minister and MP Kumara Welgama, Tamil Progressive Alliance of MP Mano Ganesan and Tamil Makkal Kuttani Party of MP C.V. Wigneswaran. The NEC sources said that 40 political organisations had applied for registration as new parties in 2021 but only the aforementioned three had been recognised by the Commission. more..

Jan 11 (TM) CHEC Port City Colombo has entered into lease agreements with investors, leasing six land slots out of the 74 land slots available for lease at the Port City, The Morning Business learns. Port City Colombo – Head of Public Relations (PR) Kassapa Senarath told us that these investors are both locals and foreigners and they are hoping to lease the rest of the land slots within the next 15-20 years. “The entire project will be completed in 25 years including the construction. more..

Jan 11 (AD) Colombo High Court has ordered the Colombo Chief JMO to examine MP Champika Ranawaka, who is admitted at a private hospital, and to submit a report on his health condition. Colombo High Court Judge Damith Thotawatta issued this directive when the case filed against the former minister and two other defendants, over allegation of concealing evidence and fabricating evidence in relation to the traffic accident in Rajagiriya in 2016, was taken up for hearing by the court today (11). more..

Jan 11 (Island) Public Health Inspectors Union (PHIU) yesterday urged parents and education officials to be vigilant about the safety of children at schools. PHIU Head Upul Rohana said that all students were now going to school and that increased their risk of exposure to COVID. Rohana said that although many children had been vaccinated, it was better to be vigilant to ensure that there wouldn’t be clusters around schools. “Parents have a great responsibility here. If their child shows any COVID symptoms, more..

Jan 11 (EN) A 47-year-old Sri Lankan woman arrested for long term financial fraud died after she jumped out of a fifth-floor window of the CID building in Colombo at 4.30am today, mere hours before she was scheduled for a court appearance. The woman had been arrested by the CID Monday afternoon for financial fraud amounting to 68,340,000 rupees. While in custody at the CID premises, she had been escorted to the bathroom, where she climbed out a window and fell to her death, police said. more..

Jan 11 (FT) Hela Clothing, relatively young but dynamic, has seen phenomenal growth thanks to strategic and bold moves, especially being the first to set up operations in East Africa. In five years it has become the biggest apparel manufacturer and exporter out of Kenya and Ethiopia. Encouraged by this success, last year it ventured into North African hub Egypt. Today the Group employs 15,000 and has a turnover of over $ 250 million. It serves some of the world’s top luxury apparel brands more..

Jan 11 (TM) A letter by seven political parties representing the Tamil-speaking people in the North and the East (N-E), to Indian PM Narendra Modi, requesting that the Indian Govt urge the Govt of SL (GoSL) to fully implement the 13th Amendment (13A), will most likely be sent today (11). “The letter, signed by seven of the Tamil political parties, will most likely be sent to Modi tomorrow (11). more..

Jan 11 (DM) Police is seeking public assistance to locate a 15-year-old girl from Maharagama who went missing since Jan 7 this year. The Maharagama Police has commenced investigations on a complaint that the girl, Neha Kaumadi Herath, a resident of Navinna in Maharagama had gone missing. Police released a picture of the girl, seeking public assistance, as investigations had not revealed anything about the missing girl so far. Police said the girl was about 5 feet 3 inches, slim and tall more..

Jan 11 (TM) Chief Govt Whip and Highways Minister Johnston Fernando has directed the chairpersons and board members of a number of institutions under his Ministry to resign as soon as possible, The Morning learns. This order will require officials from the Road Development Authority (RDA) – along with current RDA Chairman Chaminda Athaluwage – and three other institutions, including the “Maga Neguma” Road Construction Equipment Company – which is also chaired by Athaluwage – more..

Jan 11 (Island) There might be a shortage of about 80 essential drugs as health officials were finding it difficult to purchase them due to the current foreign exchange shortage, College of Medical Laboratory Science (CMLS) President, Ravi Kumudesh told The Island yesterday. Kumudesh said letters of credit had not been opened for medicine supplies for 2022. Although the country was in a crisis, the health officials more..

Jan 11 (CT) A foreigner who had tried to flee after attempting to leave for Paris via Abu Dhabi using a fake passport had been apprehended early yesterday (10), following a joint search operation by officials at the BIA, Department of Immigration and Emigration, SL Air Force Commandos, BIA security and Police Officers. According to BIA sources, the nationality of the foreigner was unknown at the time of his arrest. They stated that the suspect had climbed up the roof of the airport when more..

Jan 11 (Island) Navy brought ashore five fishermen, rescued by MV LGC Periklis, to the Galle Harbour and rushed them to the Karapitiya Hospital, Galle, for medical attention on Saturday. Navy sources said that the fishermen were in distress after their multi-day fishing trawler Asela Putha II capsized due to adverse weather in seas southwest of the country. The trawler had left the Beruwala Fishery Harbour on 04 Nov. 2021, with six fishermen. As there was no information about this fishing trawler after more..

Jan 11 (EN) There is nothing out of the ordinary about the recent 800 million yuan grant offered to SL, and China’s friendly gesture, made in the island nation’s hour of need, was no different to the assistance extended by India. Co-cabinet spokesman Minister Ramesh Pathirana told reporters that there was nothing special about China’s offer. SL is set to receive a grant of 800 million yuan (about 125 mil USD equivalent) more..

Jan 11 (DM) The Ministry of Justice has directed the Commissioner General of Prisons to hand over two Indian prisoners sentenced to life imprisonment to the Govt of India on the basis of SAARC Prisoner Transfer. Prison spokesman said that one of the two prisoners was convicted of possession, smuggling and importation of toxic narcotics under the Poisons and Drugs (Amendment) Act and was sentenced to three life terms each by the Negombo High Court on each charge. more..

Jan 11 (FT) The Asian Development Bank (ADB) yesterday expressed its readiness to fund the restructuring of several State-Owned Enterprises (SOEs) of Sri Lanka. This was communicated to President Gotabaya Rajapaksa when ADB Vice President Shixin Chen called on the former. According to a statement from the President’s Media Office, Chen also said that ADB will support the Small and Medium Enterprises (SMEs) sector for the economic development of the country. more..

Jan 11 (CT) The price of an egg will shoot up to Rs 40-50 by April this year if the Govt fails to help egg producers by importing the necessary raw material and food additives required as animal feed as soon as possible, egg producers cautioned. Secretary of the All Ceylon Egg Producers’ Association (ACEPA), Ratnasiri Alahakoon, responding to questions, warned that although there had been a slight reduction more..

Jan 11 (DM) SJB today opposed the gazette notification issued postponing the local govt election and stressed that some kind of an election should be held to find out the people's stance. The party also alleged the govt had indirectly exposed its intention to conduct a referendum to extend its term by two years. SJB MP Thushara Indunil told a press conference that the govt should go for either the local govt or provincial council elections to find out people's opinion on the ruling party. more..

Jan 11 (CT) Dept of Wildlife Conservation formed two teams to find the two crocodiles that have been spotted around Wellawatte, Galle Face, and Dehiwala beaches. The two teams will be on duty 24 hours. One of the crocodiles is presumed to have returned to its natural environment, while the second, a female, is still at large. However, the Department will not employ netting or tranquilizers as the former method could inevitably rip the net as the crocodile dives into deeper water. more..

Jan 12 (DM) Sixteen thousand tourists visited Sri Lanka in the first week of January, according to Tourism Minister Prasanna Ranatunga. It appears tourism is once again raising its head. Bookings at tourist hotels are already filling up. Entrepreneurs - both big and small - are gearing to meet anticipated challenges. After the two-year break commencing with the 2019 Easter Sunday terrorist attacks on three churches and three tourist hotels in 2019, the tourism industry literally died. more..

Jan 12 (CT) The outside world didn’t realise that a volcano was smouldering in Kazakhstan. Long standing legitimate grievances were accumulating and a spark set off an explosion. To that extent the background is like Sri Lanka today. Prices have been rising for three years, the income gap has been widening and the population in poorer Eastern Kazakhstan has been as badly-off as the majority here. Another similarity is that corruption has been running out of control. more..

Jan 12 (DM) SL’s current economic meltdown-aggravated by the existing dollar crisis, soaring cost of living and a possible shortage of food in the coming year- has made people question the incumbent govt’s promises when it assumed power. Although decision makers conveniently blamed the unforeseen COVID pandemic for this economic downfall, economists believe that several other factors contributed more..

Jan 12 (DM) The visual details of this moment are really fuzzy. The only recollection I have is that of a pixelated room. In contrast, I remember the exact words that were spoken. It was the morning of Jan 8, 2009. The war was reaching its final four months, Kilinochchi had come under govt control just six days before. Only a few handpicked journalists were allowed to cover the war beyond Medawachchiya and I did not fall into that category. My home office was quiet, it usually is during morning ritual more..

Jan 12 (GV) The newspaper headlines say it all – gas shortages, no money to import medicine, there will be no bread soon, staple vegetables are unaffordable, power cuts are starting and there is only enough fuel for two weeks while the govt begs for money from friend and foe while selling off the country’s assets in a desperate attempt to stave off the inevitable crunch to come. Stubbornly refusing to go the IMF in spite of the fact that any conditions it imposes will improve long term stability, more..

Jan 12 (CT) The dispute between China’s Qingdao Seawin Biotech Company and Sri Lanka came to an end when the People’s Bank settled US$ 6.7 million payment for the first organic fertiliser shipment on Friday (7). On 3 January the Colombo Commercial High Court vacated the injunction order preventing the payment on Letter of Credit to China-based Qingdao Seawin Biotech Group Co., Ltd. The enjoining order in question was dismissed more..

Jan 12 (TM) Mahatma Gandhi once said, “the true measure of any society can be found in how it treats its most vulnerable”. While animals are rarely considered a part of a human society, they should be, and with the advancement of humankind, animals have become increasingly vulnerable due to both the needs of development and seemingly boundless human cruelty. Yesterday (11), Sri Lanka took a great leap forward in attaining a level of Gandhian social development when more..

Jan 12 (CT) Solve the country’s US dollar crisis and the country’s power crisis will automatically be sorted. The cause of the power crisis is the lack of dollars. The symptoms of the disease are power cuts. If the symptoms and not the disease are treated, the situation can get only worse and not better. This is in the context that on Monday the CEB announced daily, islandwide, one hour power cuts, Monday to Saturday, from 5:30 p.m. to 11:30 p.m. These power cuts are due to dual reasons more..

Jan 12 (Island) The govt should be ashamed of having postponed the Local Govt (LG) polls by one year on some flimsy pretext. A regime that fears elections is a danger to democracy, as we have argued in a previous comment. The ruling party spokesmen are making a vain attempt to convince the public that the mini polls have been put off in view of the pandemic. The country is fully open, and people are moving about freely; large gatherings are a common sight. more..