May 15 (FT) National Development Bank PLC has posted satisfactory results for the first quarter of 2023, as it continued strong strategic realignment in response to the external challenges that continue to affect the banking sector. Commenting on NDB’s performance, Director/CEO Dimantha Seneviratne stated that prudent balance sheet management, diversified revenue focus and cost optimisation ensured that the Bank generated sound returns to its shareholders. more..

May 15 (FT) Legendary Indian superstar Amitabh Bachchan recently offered Made in Sri Lanka Samahan herbal drink during his TV show Kaun Banega Crorepathi or KBC Season 14 for a participant who had cold symptoms. Samahan is a creation of Link Natural Products Ltd. and has been basking in the global limelight during this year. During the Hindi-language television game show version of Who Wants to Be a Millionaire Bachchan offers a glass of Samahan more..

May 15 (SCMP) SL’s garment sector made up almost half its export revenue last year, after remaining resilient even through the pandemic and the country’s debilitating economic crisis. But shocks in the int'l market have led to a plunge in demand, prompting factories to lay off hundreds of employees. For one such worker, who wished to be known as Sunil, the loss of income came as a blow but he felt his youth was an advantage more..

May 15 (SO) SL will soon introduce a new Act to promote the development of technological innovations and research, said State Minister Kanaka Herath during an observation tour of Vega Innovation Company at the Trace City Complex, Maradana. Herath said that the Prez has given instructions to the Ministry of Technology to prepare a concept paper on it. “There isn’t a separate Act for research and development in our country. As the Ministry of Technology, we hope to work for more..

May 15 (SO) A delegation from a an international ship management service has arrived in the country to shore up job opportunities for hundreds of SL seafarers that will, at the end of day bring in much needed foreign exchange to State coffers. Representatives from Berhard Schulte Ship Management (BSM) will sign an agreement towards this end early next week with Monaco Shipping, a leading manning agent based in Colombo. BSM is the world’s third largest maritime solutions more..

May 15 (TM) Ministry of Defence has sought a response from the Vice Chancellor (VC) of the General Sir John Kotelawala Defence Uni (KDU) Major General (Rtd.) Milinda Peiris regarding the reported corruption allegations of the KDU and the University Hospital attached to the University. When contacted about the actions taken by the Defence Ministry regarding the corruption allegations levelled against the KDU, Director of Media more..

May 15 (FT) The European Union and Expertise France signed an agreement to set up a Green Policy Dialogue Facility (GPDF) and support Sri Lanka’s ambition in developing a green and circular economy and ensuring its long-term macro-economic stability. In response to the pressing global environmental challenges and current economic and financial crisis in SL, the European Union (EU) and its Team Europe partners will shortly launch the Green Policy Dialogue Facility (GPDF). more..

May 15 (SLN) A dedicated search and rescue operation mounted this morning (14) by the SL Navy and Coast Guard led to the rescue of 06 fishermen aboard a local multiday fishing trawler in distress off Beruwala. Reportedly, the fishing trawler was at the risk of skinning due to seeping of sea water following adverse weather, whilst it was at sea about 08 nautical miles (about 15km) off the Beruwala Lighthouse. The rescue was made by Sri Lanka Coast Guard Craft CG 208. more..

May 15 (DN) Hambantota International Port (HIP) launched its Duty Free Complex with the opening of 2 duty free shops within the port’s premises. The complex is designed to grow the duty-free business catering to the vessels calling HIP. The first two operators to set up at HIP’s duty free complex are Royale Electronics and United Life, both organizations with over 30 years of experience in the duty free trade. They offer a wide array of int'l duty free goods ranging from imported liquor, more..

May 15 (PMD) The Australian Govt has announced that it will gift a former Royal Australian Air Force Beechcraft KA350 King Air aircraft (registration A32-673) to the SL Govt. The aircraft will be used to enhance Sri Lanka’s sovereign aerial maritime surveillance capability. This was conveyed to Prez Ranil Wickremesinghe when an Australian delegation led by the Australian High Commissioner HE Paul Stephens met the President at the Presidential Secretariat today (12). more..

May 15 (TM) The Provincial Governors who had recently been notified by the Presidential Secretariat to resign from their positions have unanimously decided to continue in office. It was recently reported that the Presidential Secretariat had informed four Governors, namely, Eastern Governor Anuradha Yahampath, North Western Governor Admiral Wasantha Karannagoda, Uva Governor A.J.M. Muzammil, and more..

May 15 (CT) As the inclement weather conditions continue over most parts of the country, NBRO has issued level two watch amber and level one watch yellow landslide early warning alerts to 16 Divisional Secretariat (DS) divisions across six districts. Senior Scientist, of Landslide Early Warning Alert Centre of NBRO, Dr. Wasantha Senadeera said that level two watch amber landslide early warning alerts have been issued to Pitabeddara DS Division and the surrounding areas in the Matara District. more..

May 15 (ST) Taxpayers will no longer be able to obtain tax deductions for transactions exceeding Rs. 500,000 made to another person in a single day if they have not been made through a bank account or via card payment. In a notice to taxpayers, Inland Revenue Dept (IRD) notes that no deduction shall be allowed to people in computing their income, and amounts incurred by them shall not be considered as cost of an asset where such people pay those amounts to another person exceeding more..

May 15 (DM) Postmortem on the body of 22-year-old girl Fathima Munawwara who had been killed on the way to her workplace a week ago has revealed that she had not been raped by the assailant. The body was exhumed on Saturday in the presence of Gampola Actg. Magistrate Ranjith Premaratne and Kandy JMO Dr, R.P. Jayasuriya after the police arrested a man in this connection who had later confessed to the murder. Body was identified by the victim's parents and relatives. more..

May 15 (FT) SJB Vice President and former MP P. Harrison announced his decision to resign from all posts in the party to rejoin his former political party, UNP and extend his unconditional support to Prez Ranil Wickremesinghe. Former MP held a press conference in A'pura over the weekend where he blamed the weak leadership of the SJB for his decision to leave the party and rejoin his former political party instead. “We are not satisfied with the decisions being taken within the party,” more..

May 15 (FT) SJB MP Dr. Harsha De Silva insisted that the Govt must stand firm and fair during its negotiations with the IMF and creditors, and offer similar conditions to locals just as the int'l community. He added if Sri Lankans must bear the brunt and make sacrifices during this period, they must also be entitled for reflective benefits once the economy turns positive. He urged the Govt to be pragmatic with its measures on domestic debt more..

May 15 (FT) Plaintiff Hamilton Reserve Bank (HRB) and the defendant Govt of SL submitted a joint status letter on Friday to the Southern District Court of New York outlining the schedule in response to the order US District Judge L. Denise Cote issued on 20 April. According to this schedule, jointly signed by the plaintiff’s lawyers Bleichmar Fonti and Auld LLP and the defendant’s lawyers Clifford Chance US LLP both parties are required to complete the discovery before 20 June, more..

May 15 (PMD) Acknowledging the global shift towards a knowledge revolution propelled by technological advancements such as artificial intelligence, Prez Ranil Wickremesinghe pledged the govt’s willingness to assist the Colombo Uni in its development, contingent on the university’s presentation of a 10-year development plan that aligns with the changing times. Prez said this while addressing the meeting of the 2023 Alumni group of the Colombo Uni held at the Galadari Hotel more..

May 15 (EN) Thousands of heavily armed troops and elite commandos were deployed in Colombo following a false alarm based on an unusually large lunch order at the Colombo university, top security sources said. Panic-stricken police chiefs of the Western province mobilised STF Commandos, riot squads and contingents of women constables to deal with what they believed was another uprising led by undergraduates. more..

May 17 (CT) The SL Tamils have spoken with the successive SL Govts for over seventy years. Govt should by now be aware of what the Tamils want. North Eastern Tamil speaking people know that they, as a distinct Nation speaking the Tamil language continuously for over 3000 years in this Island, are entitled to the right of internal self- determination in terms of the provisions of Int'l Covenants. All our registered Tamil National Parties including the maverick Tamil Congress, more..

May 17 (CT) With the passage of each hour, a dream of yet another child is shattered by the acts of cold-blooded monsters that ignore the value of a child’s life just to fulfil their temporary grimy desires. Children are the future and it is vital to safeguard them at any cost while ensuring their wellbeing. Child abuse can result in long-lasting effects that can impact their mental and physical health. It could also further affect a child’s ability to form healthy relationships and lead to more..

May 17 (TM) The current move to restructure State-Owned Enterprises (SOEs) is different in that it stems from a highly-constrained fiscal space and, given the ongoing economic crisis, there is absolutely no room for wasteful expenditure or inefficiencies, asserts Dr. Malathy Knight. “The accumulated losses of the 52 SOEs in the first eight months of 2022 amounts to Rs. 727 b. These losses outweigh total SOE losses for more..

May 17 (CT) In the wake of the recent elephant attack on the couple who were camping out in Koslanda near the Diyaluma Waterfall, there is much being said about responsible tourism and responsible touring and rightly so. The incident claimed one life after a wild elephant had invaded the camping area that was set up for them by someone who claimed to be a tour guide. As the horrific event unfolded a few days ago, according to the victim who survived the incident, more..

May 17 (Island) Rajapaksa-Wickremesinghe govt keeps postponing elections for fear of facing a humiliating mid-term electoral setback. The UNP is floating a rumour that Prez Wickremesinghe will advance the next presidential election instead of holding the much-delayed local govt polls. It is apparently trying to infuse the irate people with some hope that they will not have to wait indefinitely to exercise their franchise. SL Presidents wrap themselves in the flag and claim more..

May 17 (TM) After all, incidents such as the Kalutara incident boil down to parenting. However, that is not about parents curtailing the children’s freedom, but, instead, readying children to enjoy their freedom responsibly and prudently. This argument that readying teenagers to face the ills of the society by the time they start engaging with the society by themselves, could prevent many forms of dangers that may come their way, and more..

May 17 (TM) Pastor Jerome Fernando’s controversial statement that the followers of Buddhism, Hinduism and Islam should be encouraged to seek love and light in Jesus has triggered criticism on many fronts. Followers of the said religions including certain religious leaders and activists have denounced Fernando while interpreting the statements in question as an insult to their religions. In addition, several complaints have been filed against those statements, while more..

May 17 (TM) Public Utilities Commission of SL (PUCSL) is among the independent institutions that were caught in controversy in recent times, particularly in the context of the economic crisis. On a number of occasions, the PUCSL, especially its Chairman Janaka Ratnayake, took a strict stance against the Govt’s decisions to hike electricity tariffs, while Prez Wickremesinghe and Minister Kanchana Wijesekera also did not hesitate to retaliate with various charges against Ratnayake. more..

May 17 (Island) The worst that can happen to a democracy is for its serving generals to savour political power, which is as addictive as heroin. They go to any lengths to keep their hold thereon. Hence the need to ensure that the military keeps away from politics so that generals do not develop a taste for power. The countries that failed to do so are in serious trouble. Pakistan has been struggling to extricate itself from the clutches of a heavily-politicised military, more..

May 17 (FT) The lengthy brutal war between the armed forces of Sri Lanka and the LTTE came to an end in May 2009. Even as the 14th anniversary of the war’s end is being observed, the island nation continues to grapple with the consequences of the conflict. The causes that led to war are yet to be addressed meaningfully. The scars of war haven’t been healed. Commendable courage, valour and dedication was displayed by the combatants on both sides during this war. more..

May 17 (FT) IMF on Monday said it was encouraging SL to finalise its strategy on domestic debt thereby resolving the uncertainty and resultant upward pressure on interest rates. “We have taken note of this uncertainty that has elevated interest rates in the country. We are encouraging the authorities to come up with a strategy soon so that this uncertainty can be resolved, the interest rates can come down and this can be part of more..

May 17 (USE) USAID Climate Adaptation Project and CBL Group have signed an agreement to help thousands of smallholder farmers across three districts practice climate-smart agriculture. Under a memorandum of understanding signed May 15, the project and the Colombo-based company will disseminate customized crop advisories and other agricultural inputs to more than 12,000 farmers in A'pura, Badulla & Monaragala districts. Partnership will support climate-smart agriculture more..

May 17 (FT) Port City Colombo the ground-breaking infrastructure project aimed at reshaping SL’s economic landscape, recently celebrated a momentous milestone as its infrastructure development phase nears completion and commercialisation is set to begin. Occasion was marked by a moment of unity with a multi-religious ceremony, invoking blessings on the nation and the project’s success. Sales Gallery of Port City Colombo was adorned with commemorative more..

May17 (Island) Italy-based sprinter Youpun Abeykoon is set to compete against a star-studded lineup that includes world champion Fred Kerley, Olympic champion Marcell Jacobs and Kenyan world leader in the 100 metres this season, Ferdinand Omanyala at the Golden Gala Pietro Mennea in Florence on June 2. Yupun had a remarkable season in 2022 where he was Asia’s fastest performer in the 100 metres with a SL record time of 9.96s and bagged a bronze medal more..

May17 (DN) SL long jump record holder Sarangi Silva will leave today for Japan for the Seiko Golden Grand Prix meet which will be held at Int'l Stadium, Yokohama in Japan on May 21. 26 year old National number one long jumper who had a 6.65 m record jump last year 2022 February is expected to improve her ranking to go forward and it’s going to be a tough challenge but Sarangi is ready to take up this challenge said her personal coach Y.K Kularatne who is also the National Head coach. more..

May 17 (DM) Despite the sharp upward revisions in electricity tariffs, financial performance of CEB remains dismal, March quarter interim financial accounts of the CEB showed. The electricity tariffs were hiked in August last year by an average of 75% and again in February this year by 65% to reflect the cost incurred by the utility in generating and distributing electricity to its customers. However, despite these sharp increases, more..

May 17 (TM) Electricity Consumers' Association (ECA) is collecting signatures for an online public petition protesting against the preparations to remove the PUCSL Chairman, Janaka Ratnayake through a Parliamentary resolution. On 11 May, the party leaders, during a meeting of the Committee on Parliamentary Affairs, had decided to take up the motion to remove Ratnayake, presented by the Minister of Power and Energy, Kanchana Wijesekera for debate on 24 May. more..