May 30 (FT) The diversified blue-chip Aitken Spence PLC has reported a profit before tax of Rs. 14.2 billion for the 12 months ended 31 March 2022 compared to the loss reported before tax of Rs. 2.8 billion last year. This phenomenal performance was driven by the Group’s diverse presence in eight countries spanning 16 segments of operation. The diversity of the Group’s operations and the transformational leadership and rigorous management of processes and more..

May 30 (FT) PM Wickremesinghe has said that China will help SL weather the financial crisis. “China has offered a few hundred million dollars in lending to SL to help alleviate a shortage of essential goods in the crisis-hit country,” UK’s Financial Times said quoting Wickremesinghe. He hopes to finalise the Chinese loan as his Govt seeks emergency aid to keep its economy going as it negotiates an IMF bailout. He added that talks with Beijing over additional lending were at an early stage. more..

May 30 (ST) Inland Revenue Department’s (IRD) vastly experienced top management team wants the new administration to immediately implement a short term revenue revival plan after the catastrophic two years of COVID-19 pandemic and mindless tax cuts resulted in a loss of over Rs 1 trillion. “Given the multiplicity of taxes and the complexity of the current tax system as a whole, rationalising taxes and expanding tax base more..

May 30 (Island) A MOU was signed by National Apprentice and Industrial Training Authority (NAITA) and Australian Govt-funded Skills for Inclusive Growth Program (S4IG) managed by Palladium. MOU was signed by Tharanga Naleen Gamlath, Chairman, National Apprentice and Industrial Training Authority and David Ablett, Team Leader, Skills for Inclusive Growth, a release said. It said: The parties agree to cooperate and work towards improving the tourism and hospitality more..

May 30 (EN) Foreign Minister GL Pieris has briefed the US Ambassador Julie Chung on the proposed 21st amendment to the constitution and has sought continued support for multilateral assistance, a statement said. “The Foreign Minister encouraged continued support from the US and other countries, both bilaterally and through multilateral channels, to mitigate the economic challenges in SL,” foreign ministry said in a statement after the meeting with Ambassador Chung. more..

May 30 (Island) SL will have to import around 700,000 metric tons of rice as the paddy harvest will drop by 50%, this Yala season, United Rice Producers’ Association (URPA), Mudith Perera said. He added that the Maha harvest had also dropped by around 50%. “It was a mistake for the govt to try to make the country switch over to organic farming overnight. Now, it has realised their blunder, but the damage is already done,” he said. Perera said many farmers in major rice-growing areas more..

May 30 (DM) Former Minister Prasanna Ranaweera's residence in Hunupitiya, which came under arson attack by rioters, was rebuilt by the people and residents of Gampaha District last morning. His house was completely gutted in a recent riot. Marking the beginning of a new political culture, the residents of the area and the people of Gampaha District have voluntarily came forward to rebuild the destroyed house. Nearly 100 houses belonging to politicians and supporters more..

May 30 (TM) SL’s tourist arrivals have dropped to 900 per day in the month of May due to the country’s political and economic instability, stated Minister Harin Fernando. Tourism numbers are really shocking as travel advisories put out by countries due to political and economic instability have started to impact SL. “Only 900 tourists come to SL per day, whereas we used to have around 10,000 or more coming in a day,” more..

May 30 (CT) Govt of SL’s face value money printing (FVMP) debt increased by 2.53% (Rs 71,586.20 mil) to a record high Rs 2,895,851.60 million (Rs 2.8959 T) due to a persistent lack of revenue on Friday. GoSL’s previous highest FVMP debt was recorded a week ago on 20 May with a figure of Rs 2.8610 trillion. However, Friday’s MP increase was non-demand pull inflationary causing, as it was used to meet an external commitment. Subsequently, GoSL’s MP borrowing costs (BC) increased more..

May 30 (CT) After registering a 10-wicket win over Bangladesh in the second Test, SL captain Dimuth Karunaratne believes fast bowlers played a vital role to win the series. He said this upon their arrival to SL on Saturday. SL defeated Bangladesh in second Test of the 2-match series on Friday. “Ground conditions were more different than on which we played earlier. Fast bowlers played a vital role in the series and I should thank them for a such performance in those conditions”, he said. more..

May 30 (AD) The National Child Protection Authority (NCPA) has launched a special investigation into the death of Fathima Aisha, a nine-year-old girl from the Atulugama area in Bandaragama, who was found dead yesterday after being reported missing. NCPA Chairman Udayakumara Amarasinghe stated that a special team has been assigned for this purpose. He further stated that it is possible to prevent such crimes by parents paying more attention to the safety of their children. more..

May 30 (NR) The bail application filed by the wife of MP Wimal Weerawansa, Shashi Weerawansa, after she was sentenced by the Colombo Magistrate’s Court last week, will be taken up for consideration today. The bail application was filed before Colombo Magistrate’s Court on the condition that an appeal will be filed before a High Court challenging the sentence issued by the lower court. Accordingly, the application will be taken up before Additional Magistrate Harshana Kekunawala today. more..

May 30 (TM) PM Ranil Wickremesinghe plans to introduce a new committee system to strengthen Parliament’s financial powers, as well as a National Committee to make the Prez and PM answerable to Parliament. He made this announcement during a special statement on the 21st Amendment and proposed political reforms yesterday. He stated that because Parliament was weakened by the 20th Amendment and more..

May 30 (AD) Riot police used tear gas and water cannons to disperse protesters near the World Trade Center (WTC) in Colombo. The protest was being staged by medical students against the Prez and the govt. The police used tear gas as the protesters had attempted to enter Bank of Ceylon Mawatha in Colombo. The protest march, held under the theme No to deal politics that protects thieves, bow to the public opinion, had commenced from near Nelum Pokuna Theater. more..

May 30 (DN) SL will face a major food crisis next October if urgent issues in the Agri sector are not addressed immediately, said the Land and Agriculture Standing committee (LASC) of the Organisation of Professional Associations of SL (OPA) on Friday. OPA Land and Agriculture Standing committee member Nelson De Silva said that the sector urgently needs fertilizer, pesticides and fuel and if they are not provided within the next three weeks firstly the forthcoming paddy plantation more..

May 30 (FT) PM Ranil Wickremesinghe yesterday proposed several measures to strengthen Parliament which include the setting up of several new committees as well as an all-party National Council. In a special televised address, the PM said that main issues in the country are not limited to the economic sphere but there are two major issues in the political sphere which include the reintroduction of the 19th Amendment more..

May 30 (FT) Economics whiz kid Aseni and her Ex-Finance-Ministry-Official Grandpa, Sarath Mahatthaya, have been in conversation on currency board systems as a substitute for central banks. They have discussed that Ceylon had a currency board system during the colonial time, that currency board had been in existence from 1884 to 1950, it had done a good job of stabilising domestic prices and the exchange rate, things have changed after the Central Bank was set up in 1950, and more..

May 30 (FT) Following is an action plan to generate an additional inflow of $ 8 billion per annum from 12 key strategies. These 12 strategies do not incur an additional capital investment for the Govt. 1) Increase foreign currency bank deposits by $ 5 billion within 5 years: • Issue a 10-year residence visa for foreign citizens who would deposit $ 100,000 in banks for 10 years in SL. • If this scheme is initiated, Sri Lanka can generate $ 5 billion worth of foreign currency deposits. more..

May 30 (AD) A 29-year-old has been arrested on suspicion of the death of the little girl who went missing from Atulugama area last week. The suspect is reportedly a resident of the Atulugama area in Bandaragama. The body of the nine-year-old girl, Fatima Ayesha, who was reported missing from Atulugama area in Bandaragama since Friday morning, was found in a marshland located close to her home on Saturday evening. Bandaragama Police, CID of Panadura Police and more..

May 30 (DM) SJB will support the 21st Amendment only if its shortcomings are rectified, SJB CEO Ajith P. Perera said. He said that his party had already proposed some amendments to the legislation such as prohibiting the Prez from holding any ministerial portfolio, giving more say to Parliament on deciding on dissolution. “We believe that the House should be given the right to dissolve itself through a resolution,” he said. “We will support the 21st Amendment only if these shortcomings are rectified. more..

May 30 (DM) The World Bank today refuted the Foreign Ministry’s claim that it has promised to disburse approximately USD 700 Million to Sri Lanka within the next few months. Issuing a statement, World Bank Country Director for SL Faris H. Hadad-Zervos said that recent media reports have inaccurately stated that the World Bank is planning support for SL in the form of a bridge loan or new loan commitments, more..

May 30 (FT) The prevailing crisis is the climax of weak policy decisions cast upon Sri Lanka by successive govts that were dismissive of the sound advice of experts. Conflicting agendas and disregard for warnings of an impending economic crisis paved way for the harsh reality we face today, a reality mismanaged not just by one, but multiple regimes that governed SL over the years. As the nation awaits a new budget with the hope of finding relief amid heavy economic pressures, more..

May 30 (Island) Police said that no complaint had been made about an incident where SJB leader Sajith Premadasa was attacked at Galle Face, on 09 May, and therefore they had not been able to conduct an investigation. Neither Police HQ nor the Fort Police Station had received any complaint, Police HQ sources said, adding that investigations, however, were in progress into goon attacks on a group of anti-govt protesters at the Galle Face Green, on 9 May, & subsequent mob violence more..

May 30 (EN) SL’s central bank has said it has taken on the task of arranging for dollar for food imports after banning open account imports which was helping keeping the nation without shortages of food. “It has been brought to the notice of the CBSL that concerns are being raised at various cohorts of trading community that there will be a large shortage of essential food items in the country due to above-mentioned restrictions more..

May 30 (AD) One person has been killed while another has been critically injured and hospitalized following a shooting incident near the Bastian Mawatha Bus Stand in Colombo. The shooting had been carried out by two individuals who had arrived on a motorcycle this morning. Two persons were rushed to the Colombo National Hospital with gunshot wounds while one of them, a 30-year-old male, had died shortly after while the other is still receiving treatment. more..

May 30 (DM) A case filed against NFF leader Wimal Weerawansa and six other party activists for allegedly providing leadership to a protest which blocks the main roads at Bauddhaloka Mawatha, causing disturbance to the people and the normal flow of traffic was yesterday fixed for trial by Colombo Chief Magistrate’s Court. Magistrate fixed the case to be heard on Aug 29. The prosecution witnesse number one was not present in court and police sought a further date for the trial. more..

May 30 (Island) Chairman of the Lanka Private Bus Owners’ Association Gemunu Wijeratne said that instructions had been issued to the members of his association to operate as many buses as possible for the benefit of the GCE Ordinary Level students and teachers on examination duty. “We are facing a serious situation because nearly half of the buses are waiting in diesel queues. There are around 20,000 private buses in the country and of them only around 8,000 are operating at the moment. more..

May 30 (CT) Chairman of the SLFP Maithripala Sirisena has written to Justice Minister Wijeyadasa Rajapakshe to express his and his party’s complete support for the proposed draft of the 21st Amendment. He said in a letter to the Minister of Justice, Prison Affairs, and Constitutional Reforms that the SLFP agrees to all amendments in the draft proposed by Rajapakshe and also submits several other proposals for consideration. Sirisena refers to the Justice Minister’s letter dated 24 May, more..

May 30 (EN) The group of former govt MPs who now function independently in SL’s parliament will support PM Ranil Wickremesinghe’s proposal to appoint oversight committees to resolve the economic crisis, former minister Udaya Gammanpila said. “We support the decision to appoint committees. We will support it,” he said. In his second televised address to the nation, PM Wickremesinghe said on Sunday that more..

May 30 (MS) Department of Foreign Affairs (DFA) has ordered the immediate repatriation of Filipinos in SL who want to return home amid the ongoing economic crisis in the foreign country. “Get them home. We have the money,” Foreign Affairs Secretary Teodoro Locsin Jr. said on Sunday. Locsin issued the order to attend to Filipinos who would seek repatriation amid the ongoing financial crisis in SL. Foreign Affairs Undersecretary Sarah Lou Arriola said the dept, through Philippine Embassy more..

May 30 (DM) A 29-year-old man who was taken into custody over the death of the 9-year old girl from Atulugama has reportedly confessed to committing the murder. Police said several statements were recorded into the death of the girl and the CID was conducting further investigations. Meanwhile, the post mortem investigations into the girl's death was conducted today at the Panadura Hospital. The postmortem report revealed that the girl was not raped. The victim went missing on Friday and more..

May 30 (BN) Sri Lanka is recommending airlines carry enough jet fuel to last return trips or fill up elsewhere, as the island grapples with a shortage of everything from oil to food due to a foreign-exchange crisis. “We’ve asked airlines to carry the required fuel while operating to SL, because there is a shortage of aviation fuel, and we have to manage the situation,” Rayhan Wanniappa, a director of Civil Aviation Authority, said more..

May 30 (EN) Minister Kanchana Wijesekera said he met CB Governor Nandalal Weerasinghe on discuss foreign exchange needs to import oil for June as the country faces forex shortages due to money printing. State-run CPC needs US$ 554 million to import oil in June and and US$ 100 million is provided through the Indian Credit line, he said. A US$ 500 million facility is also being discussed, he said. As of 12 noon on May 30, SL had 14,433 metric tonnes of diesel, 58 tonnes of super diesel, more..

May 30 (Island) Chinese Ambassador to SL, Qi Zhenhong said that they sincerely hoped that SL could maintain unity and stability and that China will continue to offer support.”China and SL are friends helping each other, treating each other with respect and trust, and good partners in mutually beneficial cooperation. SL is confronted with an economic crisis, bringing inconvenience to people’s daily life and sometimes social instability. We feel the same as our SL friends during this trying time,” more..