Jul 6 (DM) Our country’s external debt obligations in 2022 exceed US$7 billion. But the country’s forex reserves as of March 2022 is just US$1.6 billion. In April, the country announced a default on all its foreign debt and said it would seek an IMF bailout. Meanwhile, our domestic debt reached US$75.7 billion in Dec 2022. With the IMF approval of a US$3 billion loan (on March 20 this year) to our country to help bail it out of the worst economic crisis in decades, negotiations began more..

Jul 6 (TM) The media is not, and should not be, merely a part of the society that reports news. It has always remained a key driver of social change, and it continues to be one. However, with the evolution of societies, technology and economies, the media should identify the responsibilities that are associated with its great power. In the present SL context, in which socio-economic challenges have grown in an unprecedented manner, SL media paying attention to their roles and more..

Jul 6 (TM) CEO of Parkfinda, a SL entrepreneur, discusses the journey that led to the creation of their revolutionary parking solution. With a rich background in the parking industry, the CEO shares insights into the development of their flagship product, Parkfinder, which combines cutting-edge technology with automation to transform the traditional parking experience. The interview delves into the global expansion plans, benefits more..

Jul 6 (TM) The impact on the well-being of SL children due to the Economic crisis has become a major concern. Especially in terms of nutrition, education, healthcare services, and safety, while the opportunities available for their future growth looks bleak going by the current economic climate. Measures SL do take to safeguard its next generation with limited resources, is a challenging, but an unavoidable question. Issues such as malnutrition in children and the disruption of more..

Jul 6 (CT) Several measures were initiated in the past by Parliament to protect gender sensitivity, Secretary General of Parliament Kushani Rohanadeera, said. Among them, she pointed out that the inclusion of the most neutral words, in the revised standing orders, published in the year 2018, to depict gender roles, was a unique action. The Secretary General also mentioned that through the Women Parliamentarians’ Caucus, they often raise their voices about the injustices faced by more..

Jul 6 (TM) Combating crimes – in many countries – is a process that is confined largely to legal actions, punishments, and a justice system that is based on laws, where the social, legal, and economic systems appear to rely on this well-established system. This system has existed for a long time that penalising offenders, which is a direct and a short-term response to crimes, has become most accepted way of dealing with the same. more..

Jul 6 (TM) There are three methods of doing this local debt restructuring. One is through a debt haircut and the next is through a maturity extension. A debt haircut is the cutting-off of a certain amount of debt. The other is to reduce the coupon rate, which is called coupon clipping - reducing the interest rate. Now, the Govt has decided not to go for a haircut but to extend the period and reduce the interest rate. Now, what is the point that no one is talking about? In the recent past, more..

Jul 6 (Island) It is said that when a govt fears the people, there is liberty, and when the people fear a govt, there is tyranny. But here in this land like no other, govt fears the people but there is no liberty; current rulers’ fear of the public has driven them to resort to strong-arm tactics to suppress democratic dissent, & manipulate the legislature, etc., to remain in power by postponing elections. There is no bigger threat to democracy than a beleaguered, paranoid regime that fears elections. more..

Jul 6 (CT) Topped off by a curious coup attempt in Russia, June was a fascinating month with new geopolitical economic developments, twists and turns on many fronts: As US Prez Biden wooed, wined and dined India’s PM Modi (who was once refused a visa to America), France’s Macron sought an invite from South African Prez Ramaphosa to the BRICS summit to be held in August though France is hardly an emerging economy. Perhaps Macron’s interest in BRICS was due to India’s more..

Jul 6 (Island) Veteran politician Don Edwin Weerasinghe Gunasekara or DEW G, 88, wants left-wing political parties, including his Communist Party (CP), to join forces with centrist political elements to meet the growing future right wing challenge posed by Pohottuwa, backed incumbent Prez Ranil Wickremesinghe. Former CP General Secretary warned those opposed to the Wickremesinghe-Rajapaksa juggernaut to reach consensus on a tangible political strategy soon or more..

Jul 6 (FT) SJB MP Ashoka Abeysinghe levelled serious accusations against the Govt, claiming that it has carried out a scam reminiscent of the infamous Perpetual Treasuries bond scam. The MP said the Govt had auctioned Rs. 160 billion worth of bonds on 30 May while on the following day, an additional Rs. 40 billion worth of bonds were issued for guaranteed price purchase without undergoing any auction process. more..

Jul 6 (DM) Suren Cooke Agencies has been engaging in similar surveillance campaigns using technology since 2016 and had conducted programmes in Matara, Kolonnawa as well as in several leading schools in Sri Lanka. As the threat of dengue escalates, Suren Cooke Agencies (SCA) -the leading pest management firm-spearheaded an initiative to provide drone technology to support Colombo Municipal Council (CMC) in their dengue surveillance in the city, a media release said. more..

Jul 6 (Island) PMs of UK and Australia have been drawn into the debate of Spirit of Cricket after England wicketkeeper Johnny Bairstow was stumped by his opposite number Alex Carey in the recent Lord’s Test. There was uproar after the incident as MCC members reacted angrily in the Long Room towards the Australian players and three of them had been suspended with MCC issuing an unreserved apology to Australian team. Politicians joining cricket debates is nothing new. more..

Jul 6 (ST) NDB Bank employees volunteered their time and effort recently, taking part in Mangrove Restoration Work at the Anawilundawa Ramsar Wetland Sanctuary. This project Life to Our Mangroves is a long term initiative of the bank done in partnership with Biodiversity Sri Lanka (BSL), the bank said in a media release. Initiated in 2022, the project is a Nature-based Solution (NbS) that will generate multiple environmental as well as socio-economic benefits. more..

Jul 6 (FT) The much awaited four-day Convention of the Travel Agents Association of India (TAAI) will kick off in Colombo today drawing over 500 participants giving a big boost to SL’s tourism industry. Hosted in collaboration with the SL Tourism Promotion Bureau (SLTPB) and SL Association of Inbound Tour Operators (SLAITO), TAAI’s 67th Convention will be inaugurated by Prez Ranil Wickremesinghe today at the BMICH. Tourism Minister Harin Fernando will be the guest of Honour. more..

Jul 6 (EN) Sri Lanka’s proposed domestic debt re-structure will not trigger a loss of depositor confidence, with pressure on bank capital less than earlier expected, Fitch Ratings said. “The proposal excludes banks’ holdings of Sri Lankan rupee-denominated treasury securities, which will alleviate some of the pressure on their already stressed capital positions from weakening loan quality and the rupee’s depreciation,” Fitch said. more..

Jul 6 (TM) The Ambassador of Belgium to Sri Lanka Didier Vanderhasselt expressed consent to provide modern European technology required to develop SL's ports, Ministry of Ports, Shipping and Aviation noted in a statement. This was followed by a formal appeal in which the Minister requested Belgium's support in the development of the Ports of Trincomalee and Galle, while also extending lucrative opportunities for Belgian investors to actively participate in these undertakings. more..

Jul 6 (CT) It has been alleged that a group of female players behaved in an undisciplined manner during the Asian Championship Youth Netball Tournament that took place in South Korea in June. Sports Minister Roshan Ranasinghe emphasised that if allegations are proved, stern action will be taken against them. “If a player or a group of players have behaved irresponsibly or in an undisciplined manner during the tournament, action will be taken against them after conducting a proper investigation. more..

Jul 6 (FT) Rebounding cinema industry has run out of quotas for imports of films, prompting calls for the National Film Corporation (NFC) to temporarily take over the issuance until restrictions are fully phased out. SL has five circuits for distribution and the collective quota comprises 65 English movies, 70 Tamil movies and 25 of any other language movies. Industry sources said each circuit is only allocated 13 English films, 14 Tamil more..

Jul 6 (FT) The Securities and Exchange Commission of Sri Lanka (SEC) yesterday announced the appointment of Tushara Jayaratne as the Deputy Director General. With a career spanning over 28 years in the Capital Market of Sri Lanka, Jayaratne has a wealth of experience both at the Colombo Stock Exchange and the SEC. At the CSE, he held key positions and worked in the areas of Marketing, Trading and Market Surveillance, Market Development and Business Development. more..

Jul 6 (TM) Ministry of Transport and Highways is to hold discussions with the Ministry of Finance, Economic Stabilisation and National Policies regarding the continuation of the Sisu Seriya school bus service and other relief services such as season tickets. Earlier, the Minister of Transport and Highways Bandula Gunawardana said that the Govt is unable to shoulder the total cost spent on the Sisu Seriya school bus service. Speaking at a Cabinet of Ministers’ media briefing, more..

Jul 6 (TM) State Ministry of Social Empowerment stated that there is no need to make any changes to the existing Samurdhi banking system and the number of employees under the Aswesuma Social Welfare Programme. When the Aswesuma Programme, which is to provide monthly allowances varying from Rs. 2,500 to Rs. 15,000 to four categories of families, is implemented, the payment of Samurdhi allowances will not be continued. Daily Morning queried State Minister Anupa more..

Jul 6 (FT) The 80 Club of Colombo has obtained a restraining order against the UDA and Waters Edge Recreations Ltd. from the District Court in Colombo to limit public use of the property and facilities. The exclusive club has accused the UDA and Waters Edge Recreations Ltd. of violating the Memorandum of Agreement (MoA) signed with it on May 30 in respect of the occupation of Kenston the 80 Club premises and allowing the use of its facilities. “80 Club agreed to make a payment of Rs. 10 m more..

Jul 6 (TM) Kuliyapitiya Base Hospital and the Galgamuwa Base Hospital are currently facing a malfunctioning of the dialysis machines and a shortage of its equipment, and therefore, putting patients with kidney failure in danger. Dialysis machines are artificial kidneys that perform most, but not all, kidney functions for patients who suffer from permanent or temporary renal failure. The machines use haemodialysis to cleanse the blood and more..

Jul 6 (DM) Three Double Wattled Cassowaries, a species of flightless birds, were received at the BIA under an animal exchange programme from Thailand last night. The three birds were received for the Dehiwala zoo. Two males and a female Cassowaries about nine months old, were brought to the BIA last night from Kuala Lumpur, Malaysia, by Malaysia Airlines flight MH-179. These Cassowaries, which grow to a height of about five feet and weigh about 60 each kg, more..

Jul 6 (Island) PNM Secretary Dr. Wasantha Bandara said that Sena Thoradeniya’s Galle Face Protest: System Change or Anarchy?, reiterated accusations pertaining to the alleged high profile US role in an operation that ousted Prez Gotabaya Rajapaksa in July 2022. He said that Thoradeniya’s work was meant to strengthen NFF leader Wimal Weerawansa’s Nine; The Hidden Story that dealt with apparent India backed US effort meant to replace Gotabaya Rajapaksa with Speaker more..

Jul 6 (TM) Leader of the House and Minister attorney Dr. Susil Premajayantha said that the decision to increase the price of a lottery ticket by Rs. 20 is timely since the Govt is provided funds through the Development Lotteries Board (DLB) to pay the Mahapola bursary required for university students. Speaking in the Parliament, he expressed these views in response to a question raised by the Opposition and SJB Leader Sajith Premadasa in the Parliament yesterday (4). more..

Jul 6 (AD) SL’s gross official reserves is estimated at around US$ 3.5 billion as at end of June 2023, including the swap facility from the People’s Bank of China, according to the CBSL. In its latest monetary policy review issues today, the central bank noted that the trade deficit decreased notably during the five months ending May 2023 with a significant decrease in merchandise imports, despite some setback in merchandise exports, reflecting the moderation of global demand. more..

Jul 6 (DM) SL will seek fresh diplomatic engagements with India to secure what is termed an innocent passage through its territorial waters for SL fishermen to enter the Arabian Sea for multi-day fisheries, a minister said. Currently, SL multi-day fishing vessels taking to the sea from areas like Negambo, Dikovita, Beruwila and Matara voyage around the Maldives to reach the Arabian Sea. However, a passage through India’s EEZ more..

Jul 6 (FT) SJB MP S.M. Marikkar in parliament yesterday strongly criticised Speaker Mahinda Yapa Abeywardena, accusing him of unfair conduct. Marikkar claimed that the Speaker had arbitrarily limited the opposition’s opportunity to express their views during the special session and vote on the govt’s domestic debt restructuring plan. “Prez has requested the support of the opposition recently. But how can we support the Govt when we are treated in this manner?” he asked. more..

Jul 6 (DM) There are people to raise their voices over sending Muthu Raja or Sak Surin to other country, but no one to raise their voices for the protection of the culture of the country, Anu Nayaka Thera of the Asgiri Chapter Venerable Anamaduwe Dhammadassi Thera said. He said people used to come to see elephants, but no one knew where the elephants were coming from. "During the past 100 years, the perahera culture has continued up to now without any disturbances. more..

Jul 6 (EN) Central Bank said it had cut policy interest rates 200 basis points 12% and 11%, in July monetary policy meeting asking banks to lower lending rates. The central bank has created only about 1.5% inflation since September 2022, data shows, after tightening monetary policy and stabilizing the exchange rate. Unlike in past currency crisis when the central bank did not allow the currency to appreciate immediately more..

Jul 6 (FT) If professionals and experts believe and they want others to believe too, that both foreign and local debt restructuring is an urgent necessity to come out of this rut, I would quite bluntly say it’s plain wishful thinking in a world of bankrupt fantasies. What then? will be the question, no doubt. In response, my straightforward answer would be, Tell me how this crisis was brought about, and I will then tell you, how we could get out of it. The most common explanation on this crisis more..

Jul 6 (DM) The second reading of the proposed Anti Corruption Bill was approved unanimously in Parliament today while the Commitee Stage was postponed to July 19 when the ammendments will be approved. The initial proposal made by Leader of the House Susil Premajayantha to postpone the vote on the Bill came under fire by the Opposition while Justice Minister Wijedasa Rajapaksha also questioned the move. "I have worked hard to prepare the Bill with amendments and more..