Aug 21 (FT) Institute of Chartered Accountants of SL (CA SL) on Thursday announced that entries are now accepted for its prestigious TAGS Awards 2023, in its search to honour organisations delivering excellence in corporate reporting that promote the fundamental pillars of transparency, accountability, governance, and sustainability. The TAGS Awards, formerly known as the Annual Report Awards with a 58-year inspiring history, this year aim to harness the power of corporate reporting more..

Aug 21 (DN) Intelligence sources revealed that Mohammed Siddique, who is said to be major drug trafficker from SL, was arrested in Oman while disguised as an Indian national and holding an Indian passport. Sources revealed that according to an operation carried out by the Indian security and intelligence agencies regarding Mohammed Siddique for a long time, they informed Oman authorities about his visit to the country. more..

Aug 21 (FT) Last Friday, at a glamorous event, attended by Colombo’s top corporate leaders as well as diplomats from various Embassies, the winners were unveiled and recognised. The top ten companies in alphabetical order are: Aitken Spence PLC, Bank of Ceylon, CBL Investments Ltd., Ceylinco Insurance Ltd., Commercial Bank of Ceylon PLC, Dilmah Ceylon Tea Company, Hatton National Bank PLC, LOLC Holdings PLC, National Savings Bank, and Sri Lanka Telecom PLC. more..

Aug 21 (TM) The CID has initiated an investigation into allegation made by Duminda Nagamuwa of FSP that JVP has invested money on a European island with Public Security Minister Tiran Alles, The Daily Morning learns. The inquiry follows a complaint lodged with the CID by Alles on 15 August, seeking an investigation regarding the allegation made by Nagamuwa during a media briefing on 12 Aug. SSP Nihal Thalduwa confirmed that the CID had initiated an investigation over the matter. more..

Aug 21 (CI) B-Love Kandy overcame a spate of injuries and a demanding schedule - this was their second game in 24 hours - to be crowned champions of the fourth edition of the Lanka Premier League. Chasing 148 to win, they did so with one ball to spare. That Dambulla Aura's Noor Ahmad, whose 3 for 27 came in an ultimately losing cause, would end top of MVP rankings speaks volumes. more..

Aug 21 (DN) SL boxer Niraj Wijewardena ended his campaign by winning a bronze medal at the 13th Taipei City Cup Int'l Boxing Meet after his campaign ended in the semi final bout losing finally on points to the Taiwanese boxer Huang Guan-Qun after it went the full distance. Sadly for the SL boxer, his sustained injury to his left hand (wrist and below) in his earlier remarkable win against his Taipei opponent, prevented him from throwing his usual powerful left punches & hooks in semifinal. more..

Aug 21 (DN) Ashen Silva and Dinara de Silva took major honours at the 108th National Tennis Championships, which concluded at the Sri Lanka Tennis Association (SLTA) Courts in Green Path, Colombo yesterday. Ashen, lived upto expectations as the top seed and came from behind with a fine performance to beat the third seed Chathurya Nilaweera in the Men’s Singles final after a thrilling four-setter. Even then, Ashen had a disappointing start as he dropped the opening set and more..

Aug 21 (EN) Parliament’s Committee on Public Finance has raised questions about a duopoly in wheat flour created by state restrictions on trade and large profits alleged to be made through tax arbitrage. Legislators have complained in parliament that the duty differential was a tax scam that exploited a hungry public and lost the state about 2.1 billion rupees in taxes each month at 35 rupee a kilogram of wheat flour imported. By a gazette notice in July 2023, more..

Aug 21 (FT) President Ranil Wickremesinghe on Saturday highlighted that the tourism industry stands as the paramount sector capable of swiftly advancing the country’s economic objectives. He said that the Govt, under his leadership, has implemented numerous pivotal measures to foster its growth and that the Govt is diligently working to provide necessary amenities for all stakeholders involved. Addressing the audience at the inauguration of the Hilton Yala Resort, more..

Aug 21 (TM) The controversial JMO Dr. Ruhul Haq, whose actions have come under the spotlight following the revelation that he has continued to hold office despite a suspension imposed by the SLMC, has been sent on compulsory leave by the Ministry of Health. Haq sparked controversy over the past few weeks as it was revealed that he continued to function as a JMO, and conduct postmortem examinations despite more..

Aug 21 (AD) A 62-year-old female patient in the Ingiriya area of Horana, has reportedly died after taking the incorrect type of medicine which was mistakenly issued by a private pharmacy. The relatives of the deceased alleged that the pharmacy had mistakenly issued cancer medication to the deceased, who was suffering from high blood pressure and diabetes. 62-year-old P.M. Somawathi had received continuous treatment at the clinic of Horana Base Hospital. more..

Aug 21 (FT) In the SL Opinion Tracker Survey (SLOTS) polling for July 2023, support amongst likely voters for the major parties remained with little change from the previous month. SJB and NPP/JVP remain ahead with 24% and 23% each, and the SLPP and UNP on 9% and 8% each. But the largest share–30% of likely voters–remained unwilling to name any party. The latest MRP estimates using the SLOTS polling data confirms a general decline in support for NPP & SJB since early 2023, more..

Aug 21 (Island) Teachers of English, Mathematics, and Information Technology are among those who are migrating in large numbers, the JVP-led Ceylon Teacher Services Union (CTSU) has said, adding that around 5,000 teachers have left the country during the past nine months alone. CTSU General Secretary Mahinda Jayasinghe said some teachers had resigned and others had obtained leave to go overseas for employment. “This is bound to deal a crippling blow to the entire education system. more..

Aug 21 (PMD) Prez Ranil Wickremesinghe is set to depart the country tomorrow (21) for a two-day official visit to Singapore. Throughout this visit, Prez Wickremesinghe has a series of significant meetings planned, including discussions with Singapore’s President, Mrs. Halimah Yacob and talks with PM Lee Hsien Loong, Defence Minister Ng Eng Hen, and Sustainability and Environment Minister Grace Fu Hai Yien. The latter will engage in bilateral talks with Prez Wickremesinghe. more..

Aug 21 (ST) Health Ministry has withheld a batch of mini caps–a medical device used in a type of dialysis carried out through the abdomen lining–following the detection of fungi in an unused sample and after hospitals reported a high number of peritonitis, or inflammation, episodes among patients. The suspect batch was part of a large US$ 150,650 (Rs. 48.6mn) consignment imported under the Indian line of credit more..

Aug 21 (FT) The share of Sri Lanka’s 100 trackable commitments in the International Monetary Fund (IMF) program for which no data has been made available to assess progress — despite passing the agreed deadline – has increased from 9% in March to 15% in July, according to Verité Research. The lack of information to make a reasonable assessment about these commitments, the think tank notes, highlights a growing lack of visibility on the Govt’s progress on the IMF program. more..

Aug 21 (TOI) The stage is set for a long-drawn India-China proxy duel in Sri Lanka as Chinese major Sinopec begins retailing automotive fuels in the island nation from next month, challenging the position of Lanka IOC — the wholly-owned arm of Indian state-run giant IndianOil Corporation. Lanka IOC has responded by mobilising expansion of its retail network and has floated EoIs for adding 30 new petrol pumps to its existing network of 250 outlets over the coming months. more..

Aug 21 (EN) Controversial British-SL tycoon Allirajah Subaskaran, the owner of Lyca Group, arrived in SL. His arrival follows Minister Bandula Gunawardene's announcement last week that Channel Eye had been leased out to Lyca Mobile Group on a short-term agreement. Subaskaran, who is the founder and chairman of the UK-based Lyca Group, has been expanding the group's businesses in the South Asian region, more..

Aug 23 (FT) As I mentioned in the previous article in this series, an important requirement of the social market economy policy being pursued by the Ranil Wickremesinghe administration to deliver richness to Sri Lankans by 2048 is the delivery of the economic democracy to people. However, economic democracy has not been defined and the administration seems to expect the people to intuitively understand it. Hence, it is necessary to understand what it is and what should more..

Aug 23 (FT) The idea of separating wealth management from policymaking has been a practice for many centuries. Most governments have delegated public management of several core financial operations to separate professional institutions, such as, government debt to the debt management office and interest rates to the Central Bank. Similarly, some govts have delegated the management of surplus revenue from exports to sovereign wealth funds (SWFs). more..

Aug 21 (EN) Shares closed down on Monday, on profit taking and selling interest in the banking sector after favorable performance indications combined with anticipations on lowered rates and better economic outlooks on investment, an analyst said. ASPI was down 0.57% or 65.42 points to 11,338.50, this is the lowest the market has been since Aug 16, while S&P SL20 was down 0.87% or 28.28 points to 3,238.40. A team from the IMF will be in Sri Lanka from Sept 14 to 27 to conduct more..

Aug 21 (AD) Minister Kanchana Wijesekara has instructed the CEB regarding the obtaining of the ministry’s approval for the promotions of senior management at CEB. During a meeting held with the CEB’s Chairman, General Manager (GM) and Directors, minister has also directed to implement immediately the board decision taken in 2020 that was to be implemented from 2025 regarding the minimum service period remaining required for promotions to positions of DGMs (3 yrs) more..

Aug 21 (PMD) Prez Ranil Wickremesinghe met Prez of Singapore Ms. Halimah Yacob at the Istana earlier today. Singapore Prez said in a note on her official Facebook page that the two leaders had fruitful discussions, covering food security, renewable energy, and regional economic cooperation, amongst others. “Our friendship is anchored by strong people-to-people ties and cooperation across various sectors. more..

Aug 21 (TM) Ministry of Agriculture has directed the Det of Agriculture to submit an immediate report on the cultivation of big onions in the country, following observations of a drastic reduction in growing the crop. An official said that while the annual requirement of big onions in Sri Lanka is 300,000 metric tonnes (MT), local farmers have produced only 4,716 MT of big onions so far this year. The quantity of big onions imported from 1 Jan 2023 to date amounts to 131,795 MT. more..

Aug 21 (EN) Sri Lankan Airlines said it has re-started direct flights to Jeddah three times a week, pushing up total weekly flights to cities in the desert kingdom to 17. SriLankan is expanding capacity after the Govt of Saudi Arabia began relaxing its visa policy to boost tourism. SriLankan Airlines’ flight UL 281 will depart Colombo at 1425hrs every Tuesday and Sunday and arrives at Jeddah at 1810 hours. Flight UL 282 will depart Jeddah at 1925 and will arrive in Colombo the next day at 0415 hours. more..

Aug 21 (DM) Foreign Ministry is in a dilemma over the granting of approval to Chinese research vessel SHI YAN 6 expected to arrive in SL for marine research activities in October since India, China’s geopolitical rival is skeptical about its activities in SL waters. It is a Research/Survey Vessel and is sailing under the flag of China. Its carrying capacity is 1115 DWT, current draught is reported to be 5.3 m length overall of 90.6 m and a width of 17 m. more..

Aug 21 (PMD) Prez Ranil Wickremesinghe has introduced numerous ordinances to the Parliament within a remarkably short span of one year. Notably, he has successfully shepherded through the Parliament the most robust anti-corruption legislation in Asia, solidifying it as law and charting a course for the nation’s advancement, said Mr. Wajira Abeywardena, the Chairman of the UNP and a MP. Abeywardena made these comments, during his participation in a press conference held today more..

Aug 21 (SLN) The SL Navy on 21st August 2023 brought ashore an injured fisherman who had sustained injuries following a brawl while aboard a local multiday fishing trawler. Upon being brought ashore, he was transferred to the Karapitiya Teaching Hospital for medical attention. The multiday fishing trawler named Sapna 08 (Reg. No. IMUL-A-1004 TLE) with six crew members on board set sail from the Kudawella fisheries harbour on 17th August for fishing. more..

Aug 21 (Island) K.H.J. Wijayadasa, 87, former Secretary to the PM and the Prez (Mr. R. Premadasa) passed away on Thursday and his funeral was held within 24 hours according to his wishes, his family said. A member of the former coveted Ceylon Civil Service, he had a long public service career ending as Secretary to PM R. Premadasa (1983-88) and later the Prez (1989-94). He held several senior positions as GA Ampara, Polonnaruwa and Kegalle in the provincial more..

Aug 21 (AD) The Sri Dalada Esala Perahera of the Scared Temple of Tooth Relic in Kandy will commence with the first Kumbal Perahera parading the streets this evening (Aug 21). Kumbal Perahera is slated to be held until August 25, while the first Randoli Perahera will begin on 26th, and parade the streets for five days until August 30. The Kandy Esala festival will draw to an end following the water-cutting ceremony at the Mahaweli River in Getambe on August 31. more..

Aug 21 (DM) Lanka Private Bus Owners' Association (LPBOA) claimed that most of the road accidents were caused by modified private buses. LPBOA Chairman Gemunu Wijerathne said the Dept of Motor Traffic (DMT) has allowed buses to add certain modifications with certain payments. He said the LPBOA does not accept the proposal by the DMT and will not participate in any meetings held in this regard. "A letter in this regard was sent to more..

Aug 21 (Island) National Movement for Social Justice (NMSJ) led by former Speaker Karu Jayasuriya has lauded the Committee on Public Finance (COPF) for recognising the responsibilities of Parliament and acting in the interest of the public. The NMSJ chief has appreciated the Acting Chairman COPF and all its members. “We are making this assessment taking into account a decision taken in relation to a number of goods essential for the country’s construction sector, more..

Aug 21 (FT) SPAR Supermarkets Sri Lanka is celebrating 5 years of 5-star shopping in August in honour of their 5th birthday. Appreciating valued customers for their loyalty and unwavering support in reaching this milestone, all 10 SPAR supermarket outlets are offering a dizzying array of exciting prizes starting with 10 grand prizes of a two-day, full-board stay at the iconic Kandalama hotel! Supplementary prizes include four tickets each to 100 families to enjoy a day in the sun at more..

Aug 21 (Reuters) . Consumer inflation rate more than halved to 4.6% year-on-year in July, helped by falling food prices, the statistics department said. National Consumer Price Index (NCPI) captures broader retail price inflation and is released with a lag of 21 days every month. In June consumer inflation stood at 10.8%. Food prices fell 2.5% in July from a year earlier, after rising 2.5% in June year-on-year, more..

Aug 21 (TS) SL paid back Bangladesh $50 million of loans, which is one fourth of the $200 m given by Dhaka in 2021. Bangladesh Bank received the first instalment of the payment on Aug 17, Mezbaul Haque, spokesperson of the central bank, said. The crisis-hit nation will pay another instalment within Aug 30, he said. However, Haque did not say how much SL will pay as the second instalment. He said central bank hopes the Island country will clear the whole payment of $200 m by Sept this year. more..

Aug 21 (DM) Former SL batter and coach Marvan Atapattu will be among the commentators for the forth coming Asian Cup. The 52-year-old ex-opener has been assigned to do the TV commentary for SL’s matches. Confirming the news Atapattu said, "Yes, I am being contracted to air my views and I am very happy with it". This will not be his first role as a commentator. "I have done an international match before", he said. Another SL commentator, Russel Arnold, also confirmed Atapattu’s role, saying, more..