Oct 5 (DM) Prez Ranil Wickremesinghe told Singapore’s PM Lee Hsien Loong in Tokyo on Tuesday, that Sri Lanka would give priority to reviving the SL-Singapore Free Trade Agreement (SLSFTA) of 2018. The SLSFTA, which was signed when Wickremesinghe was PM, became operational on May 1, 2018, but only to be disregarded by the end of the year following a recommendation of a PCoI that it should be re-negotiated. While the promise of revival of the moribund pact may more..

Oct 5 (CT) Leader of India’s ruling BJP and former Minister Subramanian Swamy was once again in the island on an invitation by former Prez Mahinda Rajapaksa to participate in the Navarathri Pooja. Swami met with former Prez Gotabaya Rajapaksa in Colombo on Wednesday (28/09). But most surprisingly he had been invited and also attended as the key note speaker at the 15th Int'l Research Conference on Economic Revival National Security & Sustainability through Advancement of more..

Oct 5 (ST) Sri Lanka Customs (SLC) collects over 50% of state tax revenue mainly from international trade although trade inflows plunged during the country’s lockdown during COVID-19 and the current economic crisis, new Director General Customs P.B.S.C. Nonis said. On a daily average, Customs used to clear over 1000 full container loads (FCLs) at import and around 500 FCLs at export and there was no delay in clearance by custom officers, he said. more..

Oct 5 (ST) St. Sebastian’s College, Moratuwa and Sangamitta Balika Vidyalaya, Galle, clinched the boys’ and girls’ Super A Division titles respectively at the Under-19 Inter-Schools Badminton Team Championship which took place in Colombo. The all-island tournament, organized by the SL Schools Badminton Association (SLSBA) at the Royal College Sports Complex and the D S Senanayaka College Indoor Stadium, saw teams from 84 schools in action under five divisions, more..

Oct 5 (TM) While the election in Parliament to choose the Chairperson for the COPE is scheduled for tomorrow, SLPP-led Govt will field SLPP MP Prof. Ranjith Bandara as its candidate for the post in the wake of the main Parliamentary Opposition, the SJB, already having nominated its MP Eran Wickramaratne for the same. SLPP General Secretary, Sagara Kariyawasam said: “We are thinking of having Prof. Bandara contest more..

Oct 5 (Island) Sri Lanka is a land of villages. There are around 14,000 of them. According to the Dept. of Census and Statistics, around 80% of the SL population live in villages and estates. Most of them are farmers who are supposed to be suitable to be kings if the mud on their bodies are washed out. According to recent estimates, about 30 percent of the total households, in therural districts of Sri Lanka, live below the poverty line. A socio-economic survey, conducted in the recent past, more..

Oct 5 (Island) Rajapaksa-Wickremesinghe govt has proved once again that probity is anathema to it. Its leaders have engineered the exclusion of dissident SLPP MPs Prof. Charitha Herath and Prof. Tissa Vitharana from the COPE, and the COPA, respectively. Never do they baulk at anything to cover up their corrupt deals, safeguard their interests, and protect crooks. When Prez Ranil Wickremesinghe prorogued Parliament in July, causing COPE, COPA and other more..

Oct 5 (ST) Many businesses are planning to increase the prices of products and services following the revision of electricity and water charges in September. From the local eatery to fine dining restaurants, as well as laundry services, pharmacies, printing and photocopy service providers, supermarkets, grocery shops, and retailers, all are looking to revise their prices. The effects of this will begin to be felt this month. On Friday, Central Bank said headline inflation more..

Oct 5 (FT) Former Prez Maithripala Sirisena joined a protest organised to draw the attention of authorities to the many issues faced by the farming community in Polonnaruwa. The protest was held in front of the New Market Complex in Polonnaruwa on Monday. The protest was organised by SL Freedom Farmers Front and attended by farmers belonging to farmer associations in the district. Also in attendance was SLFP West Polonnaruwa Constituency Chief Organiser Daham Sirisena. more..

Oct 5 (Island) Dissident SLPP MP Prof. Channa Jayasumana has said that the govt will not be allowed to use the proposed 22 Amendment to introduce anything detrimental to the country. Anuradhapura District MP said that it would be advisable for the ruling party to refrain from proposing amendments at the committee stage, other than what were authorised by the Supreme Court. The Parliament is scheduled to debate more..

Oct 5 (FT) Uber’s 2021 SL Economic Impact Report, compiled by Public First, a UK-based policy research firm, was launched on Monday in Colombo. The report highlights how Uber and Uber Eats have helped transform the on-demand economy for consumers, drivers and delivery-partners, and the wider community by generating Rs. 81 billion for the SL economy in 2021. Uber Public Policy and Govt Relations for the Asia Pacific region Senior Director Mike Orgill; Uber’s Regional Operations for more..

Oct 5 (SLN) SL Navy officially took delivery of the EX-US Coast Guard Cutter, USCGC Douglas Munro, provided by the US, on 26th Oct 2021. Subsequently, she was designated with the Pennant Number P 627 in SLN Fleet and underwent certain modernization equipped to suit the operational needs of the SL Navy. Ship departed for SL from the Port of Seattle, US on 3rd Sept 2022. Having covered a long sea voyage of about 5898 nautical miles in the Pacific Ocean, P 627 called at more..

Oct 5 (TM) SLPP-led Govt members in the Committee on Public Accounts (COPA), in a gesture of goodwill, is to allow the Opposition to lead the said committee, if the latter wishes to helm the same. Accordingly, the SLPP may not field a candidate at today’s (5) election in Parliament to appoint the COPA Chair if the Opposition agrees to take up the chairpersonship of the COPA, as suggested by SLPP members. more..

Oct 5 (FT) Young business leader Kasturi C. Wilson has been appointed to the NDB Board as an Independent Non-Executive Director. She is currently the Group CEO of Hemas Holdings PLC. Kasturi commenced her career in 1988 as an audit trainee. She joined Hemas in 2002, where she held many senior management positions, including Chief Process Officer and Managing Director of the Hemas Transportation Sector. In 2016, Kasturi took over as Managing Director more..

Oct 5 (TM) Minister Roshan Ranasinghe handed out appointments to the new members of the National Sports Selection Committee yesterday. Speaking at the occasion, Minister said: “It was my understanding that this responsibility should be entrusted to a team that has practical knowledge about sports, loves sports, and is attentive towards sports. This committee fulfils one of the most important responsibilities of sports. The future of the young aspiring sportsman or woman will more..

Oct 5 (DM) Sri Lanka should follow the Indian tax system when it comes to granting tax concessions to foreign investors, SJB proposed. Speaking during the debate in parliament on granting a 17-year tax holiday to India’s HCL Technologies Ltd, SJB MP Kabir Hashim said Sri Lanka should follow the Indian system rather than giving long tax holidays to any company. “India gives tax concessions to foreign companies only if they locate their businesses in special economic zones. more..

Oct 5 (DM) Former SL cricketer Roshan Mahanama says he has no plans to enter politics. Responding to a question, Mahanama said that if he wanted to enter politics he would have done so when he retired from the game. Speculation arose that Mahanama was to enter politics after he was seen at the Aragalaya protests and also launched a programme to offer meals to the needy. Mahanama said that he had been invited to join politics after he retired from cricket, but he turned down the offers. more..

Oct 5 (DM) The shockingly poor practice of blindly granting enormous tax concessions to certain foreign investments without knowing their true cost came to light this week when the top brass at the Board of Investment (BOI) was summoned before the Committee on Public Finance (COPF), a parliamentary oversight committee. The extremely poor state of affairs in granting tax concessions transpired when BOI officials failed to justify more..

Oct 5 (FT) An about-turn in investor sentiment forced the Colombo stock market to suffer continuous setbacks yesterday including a trading halt, though turnover improved. In the first two days of trading, CSE has seen Rs. 324 billion in value wiped out, increasing the year-to-date dip in market capitalisation to 27% to Rs. 4.01 trillion from Rs. 4.34 trillion (down 21%) as of Friday last week. The active S&P SL20 Index finished the day losing 5.7% or over 173 points whilst ASPI dipped by more..

Oct 5 (FT) Opposition Leader Sajith Premadasa speaking in Parliament yesterday said the fisher communities in SL are facing serious issues due to the price hikes relating to kerosene and other types of fuel. Pointing out that the livelihood of the fisher community has completely been affected by the price revision on fuel, the Opposition Leader urged the Govt to immediately solve this problem. “This has resulted in the supply of fish, the most common and cheap source of protein, dwindling more..

Oct 5 (CT) The mother of Pulasthi Perera, the fourth-year undergraduate at the Engineering Faculty of the Peradeniya Uni who went missing, providing a statement to the Peradeniya Police, said there was no compelling reason for her son to disappear suddenly. The mother, identified as G.S.N. Perera, said there was no reason for her son to go missing without informing the family. Following investigations conducted by the Police, it had come to light that the undergraduate, who had resided more..

Oct 5 (DM) Sri Lanka hopes to increase tourist arrivals for 2022 by at least five fold from the number achieved in 2021, the SLTDA said. As the rate of tourist arrivals to Sri Lanka is well below expected levels, the SLTDA leadership assured that efforts are being taken to increase the influx of international visitors for the remaining months of the year. According to SLTDA Chairman Priantha Fernando, the aim is to reach a target of attracting at least 972,475 tourists by the end of 2022. more..

Oct 5 (TM) An uncertain situation has arisen regarding the resumption of academic activities at University of Peradeniya Faculty of Arts, with university administration deciding not to resume its academic activities until the Peradeniya Uni Students’ Union submits a written assurance that the students will not engage in any form of ragging, and will allow students against the rag to use all facilities of the uni without any discrimination, and more..

Oct 5 (FT) Amidst rife speculations that several more Cabinet and State Ministers are likely to take the oath, Minister Bandula Gunawardena justified the decision. “Ministers are overwhelmed with work, as one Minister holds simultaneous responsibility for several portfolios. A single Ministry alone has multiple agencies, subjects and initiatives to monitor. Against this backdrop, it is always good to have a separate Minister for each portfolio to observe the continuous progress of the initiatives,” more..

Oct 5 (CT) The second largest credit rating agency in Sri Lanka, ICRA Lanka Limited (ICRA Lanka), has decided to cease operations, a senior company official told Finance Today. “We will cease operations within the next month” he said. He claimed that the poor state of Sri Lanka’s economy is primarily to blame. ICRA Lanka is a fully owned subsidiary of ICRA Limited (ICRA) of India. The company was granted a license by the Securities and Exchange Commission of SL (SEC) in May 2011. more..

Oct 5 (TM) Although samples to determine the quality of fuel issued have been taken from only two fuelling stations thus far – with results set to arrive in about two weeks – tests carried out by the PUCSL on the quality of fuel issued within the Colombo District will be expedited to investigate 12 selected sheds within the upcoming week, with tests across fuelling stations islandwide set to be completed by end of November. more..

Oct 5 (FT) The PM was the most powerful person in Sri Lanka known earlier as Ceylon during the first three decades of independence from Britain. The post of PM lost its sheen after the Executive Presidency was introduced in 1978. Until then the prestigious PM post was a position much coveted by politicians. This column wanders down memory lane this week and narrates the tale of a man who could not become PM on two occasions – in Sept 1959 and April 1960 – due to fate’s cruel trickery. more..

Oct 5 (FT) On 16 August 2022, Minister Kanchana Wijesekera reported that Adani Green Energy Ltd. (AGEL) was issued Provisional Approvals for two wind projects of 286 MW in Mannar and 234 MW in Pooneryn (total 520 MW) that represents an investment of over $ 500 million. On paper, AGEL entry into SL renewable energy (RE) development looks promising and should be applauded. The $ 500 million investment in the power sector is significant especially at a time when more..

Oct 5 (NR) The distribution of aid to Piriven in remote areas of SL to enhance education, under the courtesy of the Sri Lankarama Buddhist Temple in Singapore was symbolically held yesterday at the President’s Office. Event was headed by Secretary to the Prez Saman Ekanayake. The educational equipment amassed with the assistance of the donors in Singapore, for the education of the Ven. Theras and children who are receiving education in remote areas in the island were handed over more..

Oct 5 (AD) SL Bureau of Foreign Employment (SLBFE) says that information has been reported that various people are taking money from job seekers by saying that jobs will be provided in Malaysia and people are being sent abroad for jobs in Malaysia on tourist visas. SLBFE says that the visit visas to Malaysia cannot be converted into work visas upon arrival in any way in accordance with the law of Malaysia. In an announcement, the SLBFE therefore urges general public not to travel more..

Oct 5 (FT) On the sharp edge of the precipice, the UK halted, reversing back to relative safety. A massive tax cut was the showpiece of the mini-budget of PM Liz Truss and chancellor of exchequer Kwasi Kwarteng. Reaction was immediate. Markets revolted. The pound crashed. IMF issued the kind of rap-across-the-knuckles-statement it generally reserves for the Third World. Bank of England pledged to buy UK govt more..

Oct 5 (EN) Around 200 MegaWatts of ground-mounted solar projects awarded before the latest collapse of Sri Lanka’s rupee have been halted as they can no longer be carried out at current costs, according to the Federation of Renewal Energy (FRED), an industry association. SL’s renewable generation costs plunged after competitive bidding was introduced in 2015 and new operators came in. Global renewable costs, especially in wind had also fallen in recent years with newer technology. more..

Oct 5 (Island) Former Prez Maithripala Sirisena asked him 71 times to take up the post of PM during the Yahapalana administration, Opposition Leader Sajith Premadasa said at Nagoda on Monday. “He approached me 10 times before 26 October 2018. He asked me 61 times the following year. I couldn’t oppose then PM Ranil Wickremesinghe because he had the support of the majority of MPs. Even Prez Rajapaksa asked me to take up the post. However, I don’t want to secure posts that way,” more..

Oct 5 (EN) SL has decided to hold its ground at the latest UNHRC session in Geneva, expressing strong opposition to a newer and tougher resolution to be taken up for a vote on Thursday (6). Noting that the odds are stacked heavily against the island nation what with powerful Western nations lobbying hard for votes, Minister Ali Sabry said on Wednesday that his govt is particularly opposed to operative paragraph number 8, more..

Oct 5 (EN) State-run Litro Gas has reduced the cooking gas prices with effect from midnight Wednesday (5) to reflect reduction in global LP gas prices. A 12.5kg cylinder of LP gas sold by Litro will be reduced by 271 rupees to 4,280 rupees, while a 5kg cylinder will be dropped by 107 rupees to 1,720 rupees. A 2.3kg gas cylinder will be sold at 800 rupees after a reduction of 48 rupees. “We are doing this price reform according to the newly introduced price formula based on global prices,” more..