Aug 8 (DN) Planter’ Association of Ceylon (PA) renewed calls for urgent action from policymakers to green light diversification into more lucrative crops like oil palm, in the wake of a sharp reduction in prices of tea and rubber over the first half of 2023 (1H23). Following on record prices in 2022, when tea moved from Rs. 704.7 per kilogram up to Rs. 1,245.2 per kg in June, and up to an all-time high of Rs. 1,599.5 per kg by September, prices have been on a steady decline in 2023. more..

Aug 8 (Island) The Udawalawe reservoir that has a total capacity of 217,800 acre-feet only had 956 acre-feet of water by Monday morning. This is only 0.45% of the total capacity of the reservoir, irrigation engineers say. During the farming season, about 32,000 acre-feet of water are usually released for agriculture. However, only 934 acre-feet of water were released for agriculture on Sunday. Mahaweli Authority said it was the lowest water level recorded for the past 20 years or so. more..

Aug 8 (EN) Sri Lanka's foreign reserves grew US$ 38 million US to 3,762 million in July 2023 up 1% from a month earlier, central bank data showed. In June the central bank sold marginally more than it bought from commercial banks for the first month since Oct 2022 as currency volatility began under an ad hoc pegging arrangement peddled to monetarily unstable nations by the IMF. SL forex reserves have grown steadily from US$ 1,705 million under deflationary open market operations more..

Aug 8 (FT) In a shocking tampering of bid documents by officials over two key multi-million rupee procurement exercises has forced SL Tourism Promotion Bureau (SLTPB) to float fresh tenders. The ugly development concerns SLTPB’s quest to hire qualified and competent agencies to handle much needed Public Relations and Digital Marketing globally to boost tourist arrivals. The initial inquiry has revealed a deliberate effort by more..

Aug 8 (FT) NPP leader Anura Kumara Dissanayake over the weekend disclosed that his party members would promptly initiate mobilisation efforts in response to the excessive increase in water tariffs. Dissanayake asserted that the party would orchestrate a series of protests and public awareness campaigns to voice their opposition against the recent tariff increase imposed by the Govt. He expressed that the current economic pressures & prevailing medicinal drugs crisis more..

Aug 8 (TM) Disaster Management Centre (DMC) has said that 12 districts across the island are currently facing drinking water shortages owing to the prevailing dry weather conditions. DMC Director General Sudantha Ranasinghe emphasised that around 48,000 families have been affected by the issue thus far. “Arrangements are being made to distribute drinking water to nearly 156,000 affected individuals in 40 DSs Divisions within these 12 districts using bowsers attached to DMC,” more..

Aug 8 (Island) A senior official of the Ceylon Petroleum Corporation (CPC), under investigation for massive losses, suffered over a period of time, has resigned after having gone abroad, authoritative sources told The Island. The former Deputy General Manager, responsible for the commercial and supply chain had been investigated for what sources called out turn losses (difference between what the crude oil tanker pumped and what Sapugaskanda more..

Aug 8 (FT) An international bridge across the Palk Strait is being talked about again. Not just a bridge, but a multi-purpose connectivity conduit. Such a bridge triggers atavistic fear in some. The purpose of this article is to examine the rationale for a multi-purpose conduit, leaving fear and its causes for another time. SL needs rapid economic growth to recover from the crisis, to give its people the kinds of lives they desire, to stanch the losses of human resources through migration, etc. more..

Aug 8 (FT) Ranil Wickremesinghe took over as Prez of SL in July 2022 when the country was in the middle of its worst economic and political crisis since independence in 1948. His predecessor, Gotabaya Rajapaksa, had been forced out of power after facing mass protests prompted by 12-hour power cuts and persistent fuel and food shortages. The nation was bankrupt. Wickremesinghe brought in the IMF and has focused on reaching macroeconomic stability and driving tough but more..

Aug 8 (EN) Shares close up high on Tuesday after buying interest was stimulated in banking and index heavy shares through senses of economic stabilization, an analyst said. ASPI was up 0.36% or 42.56 points to 11,724.22, this is the highest the market has been since Feb 18, while S&P SL20 was up 0.66% or 22.69 points to 3,470.13. “The economy has channeled some stability and some recovery, resulting in buying power for the banking sector and blue chip counters,” an analyst said. more..

Aug 8 (FT) Iranian Ambassador Hashem Ashjazadeh informed PM Dinesh Gunawardena that the Uma Oya hydroelectricity project has reached completion. Following rigorous testing of the reservoir and 120 MW generators, the project is set to be commissioned later this year. During a weekend tour to Monaragala, Ampara, and other areas within the Eastern Province to address farmer-related concerns, PM held a meeting with Ambassador Ashjazadeh and FARAB Chief more..

Aug 8 (EN) A recent remark by Prez Ranil Wickremesinghe that debt restructuring is a matter involving public finances coming under parliament and not the courts has drawn criticism from some opposition quarters. MP G L Peiris said that Wickremesinghe’s statement was highly dangerous. “He said very threateningly, ‘I will only consider decisions and recommendations made by parliament and nowhere else on this’. more..

Aug 8 (SLN) SL Navy conducted a special operation to chase away Indian poaching trawlers from SL waters this morning (7). The operation led to the seizure of an Indian trawler with ten Indian nationals poaching in island waters off Alampil in Mullaitivu. The Navy continues to conduct regular patrols and operations in SL waters to curb illegal fishing practices by foreign fishing trawlers. In a similar operation, the Eastern Naval Command deployed a Fast Attack Craft of the 04th Fast Attack more..

Aug 8 (Island) Food and Agriculture Organisation has delivered 8,360 tonnes of urea fertiliser to the Ministry of Agriculture for distribution during the forthcoming Maha season. Japan has provided funds required for the latest donation made through the FAO. The joint statement issued by the FAO and the Japanese Embassy: “The essential fertiliser will be distributed to over 228,000 smallholder paddy farmers across several districts in dry and intermediate zones of Sri Lanka, more..

Aug 8 (EN) SL legal fraternity’s mind-set, slow process, lack of emergency arbitrators, and decades-old legislation have prevented the island nation becoming a real international arbitration hub in the region, experts say. SL’s Cabinet had granted approval to establish a SL International Arbitration Centre as a regional hub in the year 2012, for resolving disputes arising out of International Commercial Agreements & other Int'l affairs. more..

Aug 8 (AD) While engaged in a study tour in New Zealand recently, the Women Parliamentarians’ Caucus of SL received a warm welcome when they visited the House of Representatives to witness a NZ Parliament session. Speaker of the NZ Parliament announced to the House that the Chair of the Women Parliamentarians’ Caucus, MP Sudarshini Fernandopulle, and the delegation is warmly welcomed. Members of the SL Women Parliamentarians’ Caucus witnessed more..

Aug 8 (AD) State Minister of Finance Ranjith Siyambalapitiya has called for an urgent report on the recent shooting incident in Bambalapitiya which involved several officers of the Excise Department. Taking to Twitter, the lawmaker said necessary directives were given to Commissioner General of Excise Kapila Kumarasinghe. Four officers of the Excise Department were arrested on Monday for opening fire at a vehicle near a filling station on Marine Drive in Bambalapitiya. more..

Aug 8 (EN) SL will kick off a procurement process to buy power from independent power producers to feed the grid in the south of the country, after lower-than-expected rainfall pushed up water needs for paddy, Minister Kanchana Wijesekera said. Bid are to be called from ACE Matara, ACE Embilipitiya and V-Power which are in position to connect to the Southern grid. CEB has expected 4,200 to 4,500 Giga Watt hours of hydro generation 2023 and PUCSL had projected 5,000 GWh earlier more..

Aug 8 (TM) In the wake of reports of a future political alliance under his leadership, Opposition MP Nimal Lanza, while attributing most of the related reports to gossip, said that it is too early to comment on the matter. There were recent media reports to the effect that Lanza is to form a new political alliance, and that several Government and Opposition MPs have expressed their support to it. When contacted by The Daily Morning to inquire about the matter, he said that more..

Aug 8 (Reuters) Monetary policy transmission to the real economy in Sri Lanka is still incomplete, the governor of the country's central bank, Nandalal Weerasinghe, said at a LSEG FX Community Event on Monday (Aug 7). Weerasinghe said he would like to see private sector interest rates come down further and at a faster pace, adding that the domestic debt restructuring is the most important focus for the debt-laden more..

Aug 8 (AD) At least 60 students have been hospitalized after inhaling toxic smoke from the fire that erupted inside a chemical factory in Kandana this morning. The smoke had spread across a large area in the vicinity of the factory, causing dozens of students from three nearby schools to fall ill from smoke inhalation. It is reported that at least 60 students from St. Sebastian’s Balika Maha Vidyalaya, St. Sebastian Girls’ Primary School and St. Sebastian’s Boys Primary College more..

Aug 8 (EN) Sri Lanka’s cabinet had approved a proposal by Prex Ranil Wickremesighe to amend the Employees Provident Fund law to assure a 9 percent annual return after a domestic debt restructure Minister Bandula Gunawardana said. The 9% return which will apply for the 2023-2026 period was arrived at after considering the returns over the past five years. The Employee’s Provident Fund is the largest retirement fund of private sector workers, which is managed by the state. more..

Aug 8 (AD) Minister Kanchana Wijesekera has warned that operations at the Samanalawewa hydroelectric power plant are likely to come to a complete halt by 16 August, following the decision to release water from the reservoir to the Udawalawe Reservoir. Speaking in Parliament this morning, Wijesekera explained that electricity will need to be purchased in order to ensure an uninterrupted supply from 15 Aug onwards. more..

Aug 8 (TM) Although certain arrangements have been made to provide water to animals in national parks around the country in view of the prevailing drought, Dept of Wildlife Conservation (DWC) stated that such arrangements are not aimed at ensuring the animals' welfare, but preventing possible losses to the tourism industry. Several parts of the country, including those where there are national parks such as Udawalawe and Yala, have been affected due to the extreme dry weather at present. more..

Aug 8 (DM) Cracks seemed to have surfaced on SJB’s machinery in Colombo District with its Maharagama co-organiser teledrama actor Rodney Fraser threatening to resign from the party and move out of politics following alleged sidelining. Mr. Fraser announced his desire to resign from the party and give up politics, at a meeting held in Maharagama. “My family had wanted me to give up politics. Also I would like to tell the party leader to remove me from the party if he does not require my services. more..

Aug 8 (AD) A total of 9 individuals have been arrested on account of forcibly entering the premises of Central Bank of SL (CBSL) this morning. 8 men and one woman were taken into custody by the police officers. A group of members of the Joint Association of Leasing and Debt Instalment Payers had forcibly entered the CB premises earlier and proceeded to stage a demonstration while sitting on the ground. CBSL security officers and the police personnel had made a joint effort more..

Aug 8 (TM) The owners of small-scale tea estates have said that they face numerous problems due to the serious drop in the price of tea leaves. According to the owners of these tea estates, the price of a kilo of green tea leaves, which had risen up to Rs. 350-400 in the past, has now dropped to Rs. 160-165. National Federation of Small-Scale Tea Estate Owners National Organiser Lal Premanath said that the price of a kilo of green tea leaves in the low-country is currently priced at Rs. 160-165, more..

Aug 8 (AD) One of the three units of the Norochcholai Coal Power Plant, which generates 270 megawatts of electricity, has suffered a breakdown early this morning. Meanwhile, Unit 3 of the power plant has remained inoperative since June 13 for scheduled major overhaul maintenance work. As a result, only one unit of the power plant is operating at the moment and it adds 300 megawatts of electricity to the national grid. more..

Aug 8 (AD) Colombo Magistrate Court’s decision pertaining to the death of famed businessman Dinesh Schaffter is scheduled to be delivered upon receiving the report of the committee of specialists appointed to determine the cause of death. Accordingly, Colombo Additional Magistrate Rajindra Jayasuriya, on Tuesday (8), said in open court that she will deliver her verdict on the case pertaining to the death of the former Janashakthi PLC Director as soon as the completed report from more..

Aug 8 (DM) At least six suspects have been arrested after they tied a 55-year-old man to a tree and assaulted him to death at Uduvil in Chunnakam for having an affair with a 19-year-old girl. Police said officers of the Chunnakam police rushed to the scene following information and the person who was tied to a tree and attacked was freed and admitted to Thelippalai Hospital, where he died while receiving treatment. Investigations revealed that the deceased was having a romantic relationship with more..

Aug 8 (PTI) Indian cricket legend Sachin Tendulkar pitched for a nutrient-rich diet and quality education for children during his school visits in Sri Lanka where he also teamed up with people impacted by the COVID-19 pandemic and the country's worst economic crisis. Addressing an event, the iconic cricketer, in his role as UNICEF's Goodwill Ambassador, said, "Children are the future; if we support them today, more..

Aug 8 (AD) A three-member committee initiated an internal investigation into the complaints on allegations of sexual abuse of the female employees of the parliament’s Catering and Housekeeping Department. Deputy Speaker of Parliament Ajith Rajapakse stated this in response to a question raised by MP Rohini Kumari Wijerathna during the parliamentary session today. The committee is chaired by Secretary-General of Parliament Kushani Anusha Rohanadeera. more..

Aug 8 (AD) Two suspects have been arrested at the Gelanigama Interchange of the Southern Expressway over the attempted abduction of a woman and her two children. Accordingly, a 37-year-old woman, and her two children aged 15 and 07, were reportedly abducted in the Bandaragama area over an alleged family dispute, police said. Two persons had arrived in a car at the victim’s residence in Bandaragama, and had threatened all three victims asking them to get into said vehicle, more..

Aug 9 (TM) Today the 13th amendment will again be a topic of discussion in the Parliament. For over 35 years, the piece of legislation, irrespective of how it was introduced into the constitutions has remained unimplemented fully, by action or the lack of, by the Executive. Prez Wickremesinghe during his recent visit to New Delhi stressed that the full implementation of the 13th should take place. However, on his return to serendipity, Prez passed the buck to the legislature, more..

Aug 9 (DM) Two weeks back, the Parliamentary Select Committee on the Expansion of higher education issued its report, which anyone who has not defined their whole existence on finding fault with every other govt measure would notice as containing groundbreaking recommendations. Some of that could fix the broken education system in the country if implemented. The report itself is not original in its observations of the deficiencies in the current education system. more..