Jun 6 (ST) The Ranil Wickremesinghe-led Prez Rajapaksa‘s Govt has been very generous when it comes to doling out the naked truth, sparing no pains to tell the public how bad the economy is and how worse it will get in the months ahead. Right from the start, the new PM has gloated on giving the low down on the state of the bankrupt nation and exulted in spelling out the sufferings it has caused to people as if they needed to be told of their daily woe by any Jonnie-come-lately-to importance. more..

Jun 6 (Island) We now have a govt of the failed by the failed for the failed, and it is exactly the opposite of what is needed to bring about consensual governance to restore political stability and social order to facilitate the ongoing efforts to resuscitate the economy. The political scenario we are witnessing looks a replay of what the yahapalana dispensation did immediately after the 2015 regime change. The govt is going hell for leather to reduce the executive powers of the Prez and more..

Jun 6 (Island) On 06 June, we remember Dr N.M. Perera, Leader of LSSP, MP par excellence, Leader of Opposition and Minister of Finance on his 117th birthday. Hardly a week passes without references to analyses and predictions made by NM and his comrade and friend, Dr Colvin R. De Silva. Prof Harold Laski, NM’s guru at the London School of Economics, thought that NM would make an excellent Chancellor of the Exchequer, while Sir Ivor Jennings said that he would be an excellent more..

Jun 6 (FT) World-renowned expert Prof. Lee Buchheit on Saturday advised the SL Govt to stay the course on the external debt restructuring even though the exercise is most challenging and called for transparency and professionalism to be successful and minimise the pain on the citizens. Speaking at the Daily FT-ICC Sri Lanka organised webinar on Options for debt restructuring in Sri Lanka Prof. Buchheit said: more..

Jun 6 (Island) On the eve of the Sinhala and Tamil New Year day, of the 12th of April 2022, SL pronounced that it is a bankrupt country by declaring that it cannot pay its debts. It is predicted that the shrinking economy of SL will not bounce back to the level of 2018 for at least three to five years. The impact this state of bankruptcy would have on the health-care of the people of SL has not been discussed in depth. The ramifications of the effect of economic bankruptcy has on the health of more..

Jun 6 (TM) Speaking about the recent dispute between SL and Russia, PM Ranil Wickremesinghe stated that he has informed Russia (through SL’s Foreign Ministry) that the ongoing legal action with regard to a Russia-owned Aeroflot passenger aircraft is not a diplomatic issue between the two countries, but rather a private legal issue, and that the legal action in this regard would be expedited. The Prime Minister’s statement comes in a context where a number of parties – including more..

Jun 6 (CI) An all-round performance from SL captain Chamari Athapaththu helped her team to a convincing consolation win on the final day of their tour of Pakistan. After electing to bat, she scored her sixth ODI hundred, a 95-ball 101, before taking 2 for 20 with the ball to help rout Pakistan by 93 runs. It looked like a miserable tour for Sri Lanka would end with another defeat when they lost two wickets for four runs. Hasini Perera was - you guessed it - run out on the fifth ball of the innings more..

Jun 6 (Island) Cricket, since the pandemic broke out two years ago, has been played behind closed doors and although some fine cricket teams like India, South Africa and England have visited the island, spectators were not allowed to witness any games as health authorities were concerned about breach of bio-secure bubbles. Now with the pandemic restrictions eased, spectators have been allowed back into the grounds and tickets were sold out in double quick time. more..

Jun 6 (ST) A world class bowling attack is a luxury every captain dreams of and SL limited over skipper Dasun Shanaka is relishing it ahead of his team’s white-ball series against Australia. T20 World Champions arrived this week for their first all-format tour–three T20s, five ODIs and two Tests in six years–but the hosts are confident of taking sweet revenge for their 4-1 drubbing this February in Australia. more..

Jun 6 (MFA) Minister G.L. Peiris had discussions with the Ambassador of China in SL Qi Zhenhong at the Ministry on 02 June. During the meeting, Ambassador Zhenhong briefed on the assistance provided to SL and discussed matters pertaining to bilateral engagements and current developments in the country. While appreciating the generous assistance and support extended by China particularly during the current situation, Foreign Minister requested continued support of more..

Jun 6 (SO) SL and China held an exhibition friendship Cup rowing competition in Dragon boats at the Diyawanna Uyana Rowing Center on Friday (3) where two races were held. One of the races was for senior rowers and the other for junior rowers that lit up the show. The senior race was contested between the rowers from Army and Navy and the Army team triumphed over Navy team which many thought would have been at home on water. It was not to be as Army team fired all cylinders. more..

Jun 6 (FT) A Supreme Court bench comprising of Justices B.P. Aluvihare PC, L.T.B. Dehideniya and A.H.M.D. Nawaz last week dismissed a Fundamental Rights application by an activist at GotaGoGama at Galle Face, upholding the State’s right to maintain law and order while facilitating the right of citizens for peaceful protests. Attorney-at-Law Pulasthi Hewamanne appeared for the Petitioner and State Counsel Shaminda more..

Jun 6 (DN) Former SL all-rounder Thilan Samaraweera has been named Assistant Coach of Australia A team which arrived in SL last Saturday morning for 2 ODIs & 2 four-day games against SL A. 44-year-old stylish right-hander Samaraweera who played 81 test matches and 53 ODIs for the National team was a prolific run-getter for the SL team scoring 5462 runs with 14 centuries. After retiring from Int'l cricket Samaraweera migrated to Melbourne, completed coaching qualification more..

Jun 6 (TM) Sri Lanka will need a carrot and stick approach to bring private creditors to the debt restructuring table, stated an internationally renowned economist. Speaking at an event held by the International Chamber of Commerce SL (ICCSL) last Saturday, Prof. Ulrich Volz, a Professor of Economics at the SOAS Uni of London, said that the private sector’s involvement in Sri Lanka’s restructuring of its debt – the majority of which is owed to the financial market – is critical. more..

Jun 6 (AD) Health officials say that a viral infection is spreading among children in several areas including Colombo. According to pediatrician Dr. Deepal Perera, symptoms including red blisters appear on the body of children infected with hand, foot and mouth disease (HFMD). He said that the disease spreads easily and children who have been infected once are at risk of re-infection. The pediatrician also recommended that children with the disease be given paracetamol & allowed to rest at home. more..

Jun 6 (DM) Two young men have restored their eyesight with the eyes of a 16 year old schoolboy of Galenbindunuwewa area who died in an accident. The deceased Dakshitha Imesh Dhanapala of Getalawa in Galenbindunuwewa was a student of Aluthdiulwewa Maha Vidyalaya. He had died of injuries caused to his brain in an accident on May 31. Officer In Charge of the Eye Donation Society in Anuradhapura branch W.M.S. Chandana said the deceased child’s parents consented to more..

Jun 6 (EN) Sri Lanka’s China-backed Port City Project has faced a setback due to the unstable situation in the country a top official said after two years of money printing to keep rates down triggered currency collapse and social unrest. Port City is a US$ 1.4 billion sea reclamation project by unit China Communications Construction Company Ltd, in partnership with the govt of SL which will sell a share of land to get revenue. more..

Jun 6 (ANI) In continuation of the Govt of India's ongoing support to the people of Sri Lanka, India in the latest aid provided two truckloads of life-saving medicines and equipment to Jaffna Teaching Hospital (JTH) on Saturday. The aid was handed over by Consulate General of India, Jaffna Raakesh Natraj to Director (Acting), JTH, Dr Nanthakumar. More aid to Sri Lanka is to follow. The aid will ensure general and critical care in the Northern Province of the Island Nation. more..

Jun 6 (Island) NFF leader Wimal Weerawansa, has issued a dire warning to the govt over the unprecedented detention of an Aeroflot flight under controversial circumstances. The former Industries Minister has asked whether the three branches of govt are working together to further worsen the crisis by antagonising Russia, an all-weather friend. SLPP MP Sarath Weerasekera, has in a letter to Prez Rajapaksa, demanded the latter’s immediate intervention to settle the issue or more..

June 6 (AD) Diesel will be distributed only to selected petrol stations on a priority list due to the limited stocks of diesel, says Petroleum Distributors’ Association. The daily distribution of diesel has been reduced to about 2,500 metric tonnes. It is reported that the CPC currently has a reserve of about 40,000 metric tonnes of diesel. It is also reported that although another consignment of diesel has been ordered, the suppliers have not yet confirmed the supply of that consignment. more..

June 6 (AD) Price of Laugfs domestic LP gas cylinders has been increased. Accordingly, the new price of a cylinder of 12.5 kg gas cylinder will be Rs. 6,850. Meanwhile the price of the 05 kg cylinder will be Rs. 2,740. Meanwhile it had been previously reported that Laugfs Gas PLC expects to resume the distribution of domestic LP gas cylinders from today (5). Laugfs chairman, W.K.H. Wegapitiya said that a shipment of 3,500 metric tonnes of gas had commenced unloading since last night (4). more..

June 6 (TM) Minister Nimal Siripala de Silva said yesterday (5) that the Attorney General (AG) will make submissions to court today (6) regarding the third parties that were affected as a result of the order issued by the Colombo Commercial High Court last week to ground the PJSC Aeroflot – Russian Airlines Aircraft No. (MSN) 1301. “I informed Russian Embassy thrice that this is not a problem between our 2 countries, more..

June 6 (Island) SJB MP Eran Wickremaratne said that the new tax policies introduced by the PM’s Office must be complemented with expenditure rationalisation to ensure social protection. Wickramaratne has said: The PM’s office announced new revenue policies that is a positive step towards reinstating the tax regime of the previous administration. While we welcome this reversal in policy, it must be noted that the initial tax cuts in 2019 by this administration was more..

June 6 (DM) PM Ranil Wickremesinghe had informed Russian authorities that the issue with the Aeroflot aircraft is not an issue between two countries but a private legal issue. PM did have a discussion on the issue with the secretary ministry of foreign affairs and advised him on what should be done. Meanwhile the Ministry of Foreign Affairs said that the commercial High Court of the Western Province issued an Enjoining Order on the Aeroflot flight restraining it from taking off from BIA. more..

Jun 6 (FT) After giving consistent public warnings that the dire economic circumstances faced by the people of Sri Lanka will get worse in the coming months, the new Prime Minister presented the proposals for tax reforms to be implemented over the immediate and near term (Prime Minister’s Office, Press Release, 2022-05-31). According to news reports (Daily FT, 2022-06-01), the Cabinet has approved the proposals in its entirety, paving the way for enactment by the Parliament. more..

Jun 6 (AD) Veteran SL cinema and television actress Sumana Amarasinghe has passed away at the age of 73. She had reportedly passed away while receiving treatment after being admitted to the Sri J'pura Hospital due to a sudden illness yesterday (4). A highly versatile actress who has had a wide range of role from drama to comedy, Amarasinghe made her cinematic debut through the 1967 film Pipena Kumudu. Sumana also worked as an assistant director, production manager, more..

Jun 6 (FT) As a layman in the subject of political economy nonetheless interested in discerning the real background to the historic debt crisis that SL is undergoing at present, I have been reading many reports including expert views, opinion statements, institutional press releases, think-tank analyses, COPE reports, etc. that are plentiful on the internet. Based on these readings, I was able to synthesise a layman’s review which I thought of putting out to a wider readership to stimulate constructive more..

Jun 6 (AD) Sri Lanka Cricket (SLC) says that all revenue from ticket sales for the Austrlian tour of Sri Lanka will be handed over to the Sports Ministry to be used for the welfare of the public affected by the current economic crisis. SLC Secretary Mohan de Silva said this tournament is not only important for Sri Lanka Cricket, but it is also extremely important for the country as well, “as we are in a very critical stage in the history of our country.” “This will definitely bring in economic advantage more..

Jun 6 (FT) Ministry of Finance, under the direction of PM and Finance Minister Ranil Wickremesinghe (RW), has hiked main taxes in the country moving halfway back to the tax regime that prevailed prior to 2020. Before this action, Inland Revenue Services Union, made up of Assistant and Deputy Commissioners, had addressed a memo to RW suggesting measures to be taken to deliver an improved annual tax harvest of Rs. 1,200 b. more..

Jun 6 (Island) Europe Day, held on 9 May every year, is a celebration of peace and unity. This year, it had a special significance. With war at the doorstep of Europe and with a deep economic crisis in SL, peace and prosperity are at stake. In that context, we invited children from SL and the Maldives to express themselves and show us how they see peace through art.” EU Ambassador to SL and Maldives, Denis Chaibi, said recently. He said so as the Delegation of the EU to SL and more..

Jun 6 (MFA) High Commissioner of India to SL Shri Gopal Baglay called on the Minister of Foreign Affairs Prof. G.L. Peiris at the Ministry of Foreign Affairs on 2 June. During the meeting, the High Commissioner briefed the Foreign Minister on the current assistance provided to Sri Lanka, including essential items such as food, fuel, fertilizer and pharmaceutical products. He also discussed matters pertaining to bilateral engagements and current developments in the country. more..

Jun 6 (AD) Colombo Commercial High Court has issued an order for the immediate suspension of the injunction order issued against the aircraft belonging to Russia’s Aeroflot Airlines, which has been detained at the BIA. On Thursday (2), the Commercial High Court of the Western Province issued an Enjoining Order on the Aeroflot flight restraining it from taking off from BIA. The case relates to a commercial dispute between more..

Jun 6 (DM) There will be a fuel price increase again by mid June due to the increase in the crude oil price in the world market, SUTUF convener Ananda Palitha said. He said that there should be a fuel price hike in two weeks after the press conference held by the Power and Energy Minister on May 24. Therefore, a decision has been taken to up the fuel prices, including kerosene. According to Minister Kanchana Wijesekera, the fuel pricing formula was approved by the cabinet, was applied to more..

Jun 6 (FT) Softlogic Holdings has announced strong results across all business verticals in FY22 amidst heightened market volatility and economic woes. Consolidated Annual Revenue surged by 35% to Rs. 111.2 billion and consolidated Gross Profit for FY22 improved 52% to Rs. 39 billion while Group EBITDA recorded a rise of 98% to Rs. 19.7 billion in FY22. Softlogic said that was primarily resulting from increased topline and stringent cost discipline. Group witnessed exchange losses at Retail, more..