Oct 3 (KT) SL's economic and financial prospects, long neglected and recently marred by default, witnessed a remarkable resurgence in Abu Dhabi and Dubai on Sept 26. The most influential Chairmen and CEOs from top corporations, accompanied by high potential investors, property developers, hotel owners, and leaders in the hospitality and real-estate industry, converged in the iconic settings of the Ritz Carlton in Abu Dhabi and the Armani Hotel at Burj Khalifa in Dubai. more..

Oct 3 (Reuters) Countries going through a sovereign default need a debt rework mechanism that grants timely relief, even if that means finding a solution outside the G20’s programme, an executive at Lazard’s sovereign advisory team said. As adviser to the govts of Ghana, Zambia and SL, Lazard plays a key role in a number of critical debt restructurings at a time when emerging markets more widely face renewed pressure from growing debt burdens more..

Oct 3 (CT) Today with youth voices from over 15 countries, the 16th Global Youth Peace Fest-GYPF 2023, a joint initiative of the National Youth Services Council, SL and Yuvsatta (youth for peace), India, started at BMICH, Colombo. Prominent amongst those who interacted with over 200 participating young people from 15 countries were Maithripala Srisena, Former President of SL, Dr. Wijeyadasa Rajapakshe, Minister of Justice, senior Gandhian Leader from India Dr. P.V. Rajagopal, more..

Oct 3 (TM) Claiming that there is a problematic situation regarding the Health Minister's powers concerning the SL Medical Council (SLMC), GMOA stated that its Executive Committee would discuss the removal of SLMC's Vice President (VP), Prof. Jayantha Jayawardana, and, if a need arises, seek legal advice regarding the same. Minister Keheliya Rambukwella last week removed Prof. Jayawardana as the SLMC's VP, a move which was said to be aimed at reconstituting the Board of SLMC. more..

Oct 3 (Reuters) The World Bank revised up its forecasts for SL's economy on Tuesday, noting the crisis-hit nation had made strides in reducing inflation and had benefited from tourism revenue as well as an appreciation in its currency. The bank now expects the economy to expand 1.7% in 2024, up from an earlier forecast of 1%. It also said the economy is likely to shrink 3.8% this year, less than its earlier prediction of a 4.2% contraction. more..

Oct 3 (DM) Minister Wijeyadasa Rajapakshe challenged the Opposition to file a contempt of court case if anyone had pressurized Mullaitivu Magistrate to revise his judgment as claimed, without accusing the govt of the incident. Minister said that the govt had no powers to control the judiciary and that the govt is only providing facilities and enacting laws. He said this when Chief Opposition Whip Lakshman Kiriella alleged that the Mullaitivu Magistrate had been pressurized to change his judgment. more..

Oct 3 (AD) Litro Gas Lanka, one of the two largest LP gas suppliers in the country, is set to make an announcement pertaining to the price revision of domestic LP gas on Wednesday (4). Accordingly, Litro Chairman Muditha Peiris, is slated to make an announcement in this regard at 02:30 p.m. tomorrow, at the Litro Head Office in Colombo. Peiris is set to make an announcement on the price revision based on the price revising formula, gas company said in a press release. more..

Oct 4 (CT) Being an Island nation, SL’s links with the Asian region and the world go back to millennia. Trade and religious links have been critical factors in its historical evolution and change -some leading to invasions and even colonisation. Mixture of cultures, identities, families, social and economic relations have been a part of multicultural nation that it has come to be. Contacts with the foreigners – voluntary and involuntary – provided space for opportunities to advance in the occupational, business, more..

Oct 4 (ST) Amidst all this verbal adi pudi over Channel 4 and how those chaps in the rather disunited kingdom had some antipathy for the Rajapaksas—or so says Namal—it came to light that within a couple of days of the Easter Sunday attack, brother Gotabaya announced his candidature for the upcoming prez election. The saviour has come, his acolytes cried in unison. He will save the nation they yelled in mounting alacrity. Some 6.9 million of those who trekked to the polls to support him waited more..

Oct 4 (TM) SL’s transport sector has been in need of major reforms for some time, while the prevailing economic situation has intensified the need. However, this is not a mere matter of having more resources or taking new initiatives. Reforming this sector is equally about getting rid of detrimental practices and mindsets that have kept the transport sector in such a state for a long time. According to Prof. Amal S. Kumarage, more..

Oct 4 (DM) If you follow, with a sense of detachment, what is happening in this country and the loudest of local reactions to these domestic and foreign developments, you cannot help but be amused. Among the first things you would notice is that more than anyone else, Sri Lankans, a motley group, have done so much to undermine the country and relish it as a crowning achievement. That is not unique to one particular group, political party, ideology or ethnic or religious representation. more..

Oct 4 (DM) Today (4) will be 5000 days since the disappearance of cartoonist, journalist and human rights defender Prageeth Ekneligoda. It is also nearly 5000 days since I first met his wife Sandya Ekneligoda, in the initial days of her struggle to search for Prageeth and to hold those responsible accountable. As far as I know, not a single person has been convicted for very serious crimes against journalists in Sri Lanka, including killings and enforced disappearances. more..

Oct 4 (SO) Using explosives is illegal, wasteful and devastating to marine life and people’s livelihoods. Yet in Sri Lanka and around the world it’s thriving as a quick and easy route to a lucrative haul. The immediate aftermath of a blast is obvious, says Wilson Perera: the ocean turns murky with blood and is strewn with fish that are missing eyes or other organs. Those fish that are wounded swim off to die elsewhere. more..

Oct 4 (TM) Is SL facing an episode of another blunder, which could have been evaded if politicians had acted a bit more diplomatically? Had the political sphere acted with a bit more responsibility couldn’t we have avoided Mullaitivu District Judge and Magistrate Saravanarajah’s resignation? As of the latest updates, at the time the news goes to print, the entire legal fraternity seems to be up in arms against the Govt, with the North-based lawyers holding a protest yesterday. more..

Oct 4 (Island) Opposition Leader Sajith Premadasa tore into the govt for summoning some radio journalists before the parliamentary privileges committee over a news report. He accused the govt of violating media freedom. His principled stand on the issue has struck a responsive chord with all those who are resisting the govt’s determined bid to suppress dissent. The MPs’ right to safeguard their privileges cannot be questioned, but past several decades more..

Oct 4 (CT) The recent turmoil surrounding SriLankan Airlines is a deeply-troubling revelation of the state of our national carrier. With eight flight delays and cancellations within last few days, causing a staggering loss of USD 6 million to the State, this incident shines a harsh light on a legacy of inefficiency, mismanagement, and corruption that has plagued the airline for years. A national carrier plays a pivotal role in a country’s economic, social and global standing. more..

Oct 4 (Island) The govt has allocated Rs 11 billion in the provisional budget for next year for the presidential elections due in September. This is a positive indication that the govt intends to hold those elections. Free and fair elections being held when due is a core concept of a functioning democracy. This was called into question earlier in the year when local government elections were postponed. They were due in March but were postponed on multiple occasions; now have been cancelled. more..

Oct 4 (DN) With a new Sri Lankan record, Nadeesha Dilhani Lekamge yesterday won a silver medal for SL in athletics at an Asian Games after 17 years. Taking part in the women’s Javelin event at the Olympic Sports Centre Stadium in Hanjei, Nadeesha cleared 61.57m in her fourth attempt. This performance erased the SL record she had set with 60.93 meters in the Asian Athletics Championship held in Bangkok, Thailand last July. more..

Oct 4 (DM) Today is World Animal Day, a day where we celebrate and value all the beautiful animals who share our country, and world, with us. A lot of positive change has been happening over the years, as many more people are beginning to understand the immense cruelty that animals face in order to fulfill different forms of human desires and needs. Many of us now understand the need to make changes, so as not to contribute to the suffering of these sentient beings. more..

Oct 4 (CI) Rahmanullah Gurbaz and Rahmat Shah's heroics trumped Kusal Mendis' sensational 158 as Afghanistan produced a commanding win in a rain-curtailed encounter in Guwahati. After Afghanistan lost opener Ibrahim Zadran early in their chase of 295, Gurbaz and Rahmat played steadily and was unbeaten on 53 and 51 respectively, when rain halted the play in the 21st over. After losing an hour of play to wet conditions, Afghanistan were set a revised target of 257 in 42 overs. more..

Oct 4 (CI) In a way the arrival of Pakistan in India, and the heartwarming little reception in Hyderabad, is the moment the 2023 ODI World Cup really began. A World Cup does not happen every day. It is a special occasion, where we anticipate wonderful and rare and unexpected things to occur. Pakistan were always going to make it, of course, but we're in a moment where all the bitter politicking over their participation over the last year was more reflective of the state of international cricket more..

Oct 4 (FT) State Minister Dilum Amunugama’s recent visit to China has resulted in the due attention of the major players in the Chinese business fraternity. CZK Harui Economy and Trade Development (Beijing) Ltd., held initial discussions during the Minister’s visit to China and within a few weeks the representatives of the company visited Colombo to meet BOI officials. The representative of the company came up with a proposal for the Int'l Gem and Jewellery Exchange at the Colombo more..

Oct 4 (ST) A minimum allowance of Rs. 1000 for public sector employees, a provision to allow employees in certain sectors to be given service extensions beyond 60 years and a further widening of the tax net are among some of the proposals that will likely feature in Budget 2024, senior Finance Ministry officials said. A proposal has been made to increase allowances for public sector employees by at least Rs. 1000, with more..

Oct 4 (DN) SL made its mark at the first-ever Asia Pacific Motorsports Championships, a collaborative effort by ASNs across the Asia Pacific region held at the Sepang Int'l Circuit in Malaysia from Sept 30 to Oct 1. In a rally event that saw participation from nearly 17 countries, SL had three contestants on the field. Two of them, Sam Smith and Hisham Shamshudeen, proudly clinched the second-place position overall. This achievement was the result of their outstanding performance more..

Oct 4 (FT) In a continuing effort to transform lives and empower rural communities globally LOLC Group (LOLC) has announced the issuance of $ 100 million worth of sustainable bonds. The bonds are issued by Sustainable Capital PLC. These bonds will be listed on the Frankfurt Stock Exchange, with Capital Alliance Partners (CALP) serving as the financial advisor for the transaction. The UK-headquartered subsidiary of Bedford Raw Capital Sustainable Capital PLC offers a flexible, and more..

Oct 4 (TM) GMOA alleged that many specialist doctors who return to SL after overseas training migrate due to the sluggish policy followed by the relevant units of the Ministry of Health in giving appointments to them. GMOA Media Spokesman Dr. Chamil Wijesinghe said that medical officers' willingness to return to the country on time following the completion of relevant overseas training should be commended at a time when the country is more..

Oct 4 (DM) A complaint was filed against a drunken traffic policeman in uniform who had knocked down a man on the pedestrian crossing on the Colombo-Negombo main road and had fled away. Despite being under heavy influence of liquor, the traffic policeman had allegedly attempted to defend his actions with the protesting crowd and a priest from the Mattumagala church. The priest who refuted the policeman’s explanation explained the gravity of the offense he had committed. more..

Oct 4 (FT) Colombo stock market yesterday slumped to a two-month low as investor sentiment remained negative. ASPI was down by 1.15% and the active S&PSL20 was down by 1.23%. Turnover was Rs. 854.5 million involving 29.7 million shares. Asia Securities said indices remained in the red with a moderate turnover as investors opted to stay on the sidelines awaiting clarity on the second IMF tranche and assessing budget speculations. Nevertheless, JKH witnessed increased more..

Oct 4 (FT) SSP Nihal Thalduwa revealed that the former Mullativu District Judge T. Saravanaraja had not filed any complaint with the police regarding the alleged threats he claimed to have faced which resulted in his sudden resignation. Thalduwa said Saravanaraja had neither complained to the police nor informed his Personal Security Officer (PSO) of any threats to his life. Thalduwa made this revelation in a context where certain parties have raised doubts about authenticity of Saravanaraja’s claims. more..

Oct 4 (FT) SJB MP Imthiaz Bakeer Markar voiced his concern in Parliament, alleging that both Parliament and Govt officials have deliberately ignored a private member’s Bill presented by him in 2021 regarding youth representation in Parliament, PCs & LG bodies. MP said he first presented three private member Bills on the topic to the then Secretary-General of Parliament in Jan 2021. He pointed out that after facing significant delays, the Bill was subsequently forwarded to more..

Oct 4 (DN) Sri Lanka has one of the lowest tax to GDP ratios that dropped about 7.3% in 2022 and this should be corrected soon, said World Bank Economist Richard Walker in Colombo yesterday. He attributed this to a poorly designed tax policy and challenges in tax administration. “Also the tax net has to be widened and non tax paying sectors should be targeted to pay taxes rather than taxing the same segment again and again.” more..

Oct 4 (FT) Govt has decided to proceed with the formulation of a new Bill aimed at enforcing pertinent legal provisions to establish a new uni named SL University of Education. The move is expected to upgrade 19 out of the 20 existing National Colleges of Education to uni campuses setting the stage for the elevation of them to the esteemed status of a university faculty. This visionary initiative, guided by an expert committee led by Professor Gunapala Nanayakkara, aligns with a prior Cabinet more..

Oct 4 (FT) The Shipping Corporation of India, Mumbai in conjunction with the High Commission of India and the Ministry of Port, Shipping and Aviation to launch a new passenger service linking South India and North of Sri Lanka. The new passenger service would operate from Nagapattinam, India to the port of Kankesanthurai (KKS) Jaffna and vice versa. The vessel deployed will be High-Speed Craft (HSC) Cheriyapani and the inaugural call will be made at the KKS port on 6 October 2023. more..

Oct 4 (DM) Ceylon Petroleum Corporation (CPC) and Ceylon Petroleum Storage Terminals Limited (CPSTL) Chairman Uwais Mohomed resigned today. He paid a courtesy visit to Power and Energy Minister Kanchana Wijesekera last evening to bid farewell, as he will be serving his last day in office today. Uwais had given notice of his resignation due to personal and professional commitments. He held the post of chairman for the last 14 months, following the request of the Minister. more..

Oct 4 (CT) Ministry of Defence has topped the list of allocations for Ministries, in Appropriation Bill 2024, with Rs 422.71 billion, followed closely by the Ministry of Health with Rs 410.28 billion. Appropriation Bill 2024, which was gazetted on 27 Sept, will be presented to Parliament later this week. The Appropriation Bill projects the Govt’s total expenditure for the upcoming year to exceed Rs 3.86 trillion. Additional allocations encompass Rs 23.705 billion for the Ministry of Education, more..