Apr 20 (Island) Nishan de Mel, the Executive Director of Verité Research, stated that holders of Sri Lanka’s International Sovereign Bonds (ISBs) have expressed concerns about specific aspects of the debt sustainability analysis conducted by the country alongside the IMF. This disagreement is one of the key hurdles in reaching an accord with them, he said. Dr. de Mel said holders of SL’s ISBs disagree with the IMF’s more..

Apr 20 (DN) It is expected that the issuing of visas to tourists coming to Sri Lanka will be done by a technical coordination agency for the issuing of visas in 145 countries, Public Security Ministry Secretary Viyani Gunathilake said. He said that an agreement has been reached with an international organization to attract tourists to Sri Lanka and to facilitate the tourists in obtaining visas and they should apply for visas through the company’s website www.srilankaevisa.lk. more..

Apr 20 (DM) UNP which is led by incumbent Prez Ranil Wickremesinghe today urged the SL people not to get deceived by NPP and Archbishop of Colombo Cardinal Malcolm Ranjith. UNP General Secretary Palitha Range Bandara made these remarks while making a special statement in reference to to the meeting which a group of NPP members had with Cardinal Ranjith on Thursday. Range Bandara questioned as to whether Cardinal is out to vouch support for NPP the same way more..

Apr 20 (DM) Sri Lanka is to pay US $ 308 million in surcharges to the IMF over the next decade (2024-2033), in constituting to 15.8% of the total charges and interests over the period, according to the US-based think tank Centre for Economic and Policy Research (CEPR). Over the period, SL’s total charges and interests payments to the IMF stand at US $ 1.94 billion. SL joined the list of 22 heavily indebted countries facing more..

Apr 20 (DM) In a daring robbery which has stunned authorities, thieves managed to steal electric cables worth over Rs.10 million from a train named Nayana Kumari stationed at Hikkaduwa railway station, a top official said. The incident, had occurred in the early hours of Thursday, targeting the Nayana Kumari express train which had arrived the previous night from Colombo. The thieves specifically targeted cables used for powering the lighting system within the passenger compartments. more..

Apr 20 (Island) As a collective body of exporters, we have been at the forefront of sustaining employment and ensuring a steady flow of foreign exchange, even amidst the most severe economic downturns faced by our nation. Our membership covers the majority of merchandise exports, which account for some 13% of Sri Lanka’s GDP. Today, we stand united in urging the authorities to address the pressing challenges posed by the appreciation of the SL rupee (LKR) against the US dollar (USD), more..

Apr 20 (FT) UN Capital Development Fund (UNCDF)—the UN’s catalytic finance entity for developing countries—has appointed Pradeep Kurukulasuriya (SL) as the Executive Secretary for the organisation. In assuming the position, Kurukulasuriya as Executive Secretary will focus on strengthening the organisation’s unique capability to crowd-in finance to scale development impact where the needs are greatest—a capability rooted in UNCDF’s unique investment mandate to blend & deploy more..

Apr 20 (FT) Colombo stock market yesterday ended the week with losses, a complete U-turn after the previous saw sharp gains. During the week ASPI lost 2.3% and the active S&P SL20 lost 3.4%. In the previous week the ASPI and the S&P SL20 gained 2% and 2.6% respectively. Turnover this week averaged Rs. 1.95 billion, down from Rs. 2.91 billion in the previous week. Yesterday the S&P SL20 declined by 0.75% and the ASPI by 0.4% with turnover amounting to Rs. 1.47 billion more..

Apr 20 (FT) Minister Kanchana Wijesekera expressed optimism regarding potential developments with Sinopec, aiming for a comprehensive agreement aligned with the Govt’s principles by next month, with a target to sign the agreement by June 2024. He noted that concerns regarding the implications on land extent, logistics, port taxes, water resource management and compliance with BoI conditions emerged more..

Apr 20 (DN) SL clinched victory in the JR Jayewardene Trophy after a long wait, triumphing over two Pakistani golf teams at the start of the Smart City 63rd National Amateur Golf Championship’s int'l team match. The match took place at the Margalla Greens Golf Club in Islamabad, Pakistan yesterday. Uchitha Ranasinghe from the Royal Colombo Golf Club and Chalitha Pushpika from the SL Navy teamed up to score a joint gross of 148, with each player hitting more..

Apr 20 (Island) Uncovering the truth behind the Easter Sunday attacks hinged on a change in the political system, Fr. Cyril Gamini Fernando, the spokesperson of the Archdiocese of Colombo, said following his visit to the CID on Friday morning. Fr. Fernando was summoned to the CID to provide his account regarding the Easter Sunday attacks. He stated, “I received a letter from the CID requesting my presence at 10 am. They mentioned they wish to record my statement regarding my knowledge more..

Apr 20 (Island) Prez Ranil Wickremesinghe on Thursday told youth political activists, affiliated to his party in Nuwara Eliya, that he was willing to convert the historical post office at Nuwara Eliya into a tourist hotel if that is what the people desire. The meeting took place at the President’s House in Nuwara Eliya. “We would like to develop tourism. Do you also like to see that?” he asked the young UNPers. Wickremesinghe said he wanted to take over the colonial era post office at Nuwara Eliya more..

Apr 20 (DN) The Sports Ministry spent more than 82 lakhs for Viren Nettasinghe’s International Badminton tournaments which helped him to reach Olympics qualifying standard, said Sports Director General Prof Rear Admiral Shemal Fernando. We already made a pathway to the Road of Olympics and Sports Minister Harin Fernando gave all requirements and ordered me to look after Super athletes requirements and Viren is the first athlete to reach his target with our assistance. more..

Apr 20 (FT) SJB MP Chandima Weerakkody accused Prez Ranil Wickremesinghe and his Govt of adhering to a local Robin hood rule, despite presenting a facade of transparent governance to appease the IMF and other organisations. He claimed that the Govt is attempting to create an impression of economic progress in the country while maintaining questionable practices. more..

Apr 20 (FT) Activists gathered on the side-lines of the annual meeting of the IMF and World Bank in Washington DC yesterday to demand deep, wide and urgent debt cancellation for Global South countries. Demonstrations were also held in the Philippines, Pakistan, Bangladesh, Sri Lanka and Nepal. “While these meetings of the IMF and World Bank are happening, a worsening debt crisis is crushing developing countries across the world. This dire situation is proof of the flawed and more..

Apr 20 (Island) Olympian Nagalingam Ethirveerasingam who won SL’s first gold medal at the Asian Games has passed away in Los Angeles. The former national record holder in the men’s high jump was 89 at the time of his demise. A legend in the field of athletics, Ethir was a 17-year-old student at Jaffna Central when he was picked to represent SL at Helsinki Olympics in 1952. Ethir represented SL at the next edition of the Olympics in 1956 as well. He held the national high jump record more..

Apr 20 (FT) Hayleys Solar, the pioneering force in SL’s solar energy landscape, has unveiled Solar Powered Water Heaters to the local market. Commenting on the launch, Hayleys Fentons Managing Director Hasith Prematillake states, “We aim to make renewable energy solutions accessible but also rewarding for every SL household. With this product offering, we will continue to develop the hot water systems market by offering energy-efficient solutions that leverage the power of the sun.” more..

Apr 20 (FT) Aitken Spence Hotels has once again ranked among the top companies in LMD’s Most Awarded Hall of Fame, solidifying its position as one of the most distinguished entities in Sri Lanka. Garnering an impressive tally of 52 awards throughout 2023, the company secured the first place in hospitality sector and fourth place among the nation’s most honoured establishments. These awards have showcased the company’s prowess in service, culinary and product excellence. more..

Apr 20 (FT) The Consumer Affairs Authority (CAA) has announced plans to crackdown on fraudulent trades and overcharging tuk tuk drivers in popular tourist areas following numerous complaints and viral videos shared on social media. “Officials would conduct regular raids and patrols in areas known for tourism-related businesses and street food vendors. Additionally, they would target tuk tuks that are reportedly overcharging tourists and more..

Apr 20 (CT) The New Year celebrations this year were low key compared to the past. The loud sound of crackers and other fireworks that traditionally accompany the dawn of the New Year were less than in the past. The economic burden on the people has begun to tell and was evident in the reduced purchase of new clothes and other items in preparation for the New Year. It can be surmised that the general population has less savings to utilize due to those savings being consumed more..

Apr 20 (FT) Sri Lanka is no stranger to hostiles with big black backpacks brimming with explosives, literally and metaphorically. A protracted conflict between insular tribes, stoked by ethno-nationalism and egged on by war profiteers, taught us to expect sudden or strategic violence in public places and contested spaces. The tsunami of 2004 took a sleeping island by surprise in their homes. But being used to nature red in tooth and claw, the wound was more readily assimilated more..

Apr 20 (TM) The procurement of 100 MW of supplementary power has faced further delays as the Power and Energy Ministry is yet to approve the proposal submitted by the CEB. Last month, the CEB announced its anticipation of adding 100 MW of supplementary power to the national grid by 1 April. However, the necessary approvals for proceeding with the signing of Power Purchasing Agreements (PPAs) with Independent Power Producers more..

Apr 20 (TM) I am writing this as many mourn the demise of late politician Palitha Thewarapperuma who left us on Tuesday (16). While I try to be as apolitical as possible, I thought of writing this as a believer of humanity, which Thewarapperuma had in abundance. In the grand tapestry of Sri Lanka's political narrative, there are certain figures who transcend the confines of time and space, leaving an enduring legacy that resonates through generations. Thewarapperuma, a name etched more..

Apr 20 (Island) The Gaza conflict shows signs of spiralling into a much broader war, which is likely to threaten world peace and destabilise the global economy. Friday’s Israeli missile and drone strikes on the Iranian city of Isfahan, which is said to be home to several nuclear facilities, has pushed the Middle East closer to a devastating regional war. One dreads to think what the situation would be in case of the Iranian nuclear facilities coming under attack. Economic fallout of Friday’s attacks more..

Apr 20 (CT) Commenting on the nation’s economic recovery not long ago, World Bank Director Faris Hadad-Zervos observed that the need for sustained efforts to mitigate the impact of the economic crisis on the poor and vulnerable are critical, alongside a continuation of the path of robust and credible structural reforms. According to him, this involves a two-pronged strategy, “first, to maintain reforms that contribute to macroeconomic stability and second, to accelerate reforms to stimulate more..

Apr 20 (CT) Since gaining independence, SL has navigated a turbulent political landscape, swinging between left and right-wing ideologies until the early ’90s. Since then, the nation has largely sought a middle path. The prolonged war, spanning nearly three decades, hampered development and progress but benefitted a segment from the nature of war economy. However, 2009 marked a turning point with the war’s end, heralding an era of peace and offering SL a golden opportunity to more..

Apr 20 (TM) At a time when the need to expand youth involvement in politics is reflected more than ever following the unprecedented political changes that took place in the country in the past few years, the Youth to Lead SL which is a youth-based advocacy group, recently spearheaded a pivotal meeting with the Election Commission (EC). The group presented a comprehensive array of recommendations aimed at amplifying more..

Apr 20 (Island) So, the Sinhala and Tamil New Year came and went. Cassandra has used a SL colloquial manner of pronouncing that an anticipated event was marked and ended. The high temperatures however prevail, though mercifully tempered by afternoon showers. Everyone except drug dealers and politicians were struggling against strangulating pecuniary difficulties, but of course last minutes urges to buy had to be given in to. Colombo became a deader city than it was more..

Apr 20 (DM) In April 2022 our country was declared bankrupt. We were unable to import basic needs such as food, fuel, cooking gas, medicines and other necessities. A sudden ban on the import of petroleum-based fertiliser nearly killed some of our main export crops such as tea, rubber and coconut. Soon shop shelves ran empty. Long queues formed around fuel depots. Amid the turmoil, the executive president fled the country. A situation of anarchy was eased with the election of Prez more..

Apr 20 (CT) The Sinhala and Tamil New Year holds profound significance for the SL populace, offering a moment of communal joy transcending religious boundaries. It is a time when people come together, shedding differences, to ignite hope through the initiation of auspicious rites, infusing life with renewed purpose and meaning. The Sinhala and Tamil New Year stands as a cornerstone of celebration for all Sri Lankans, more..

Apr 20 (DM) Despite SJB and NPP having been throwing challenges at each other for a debate over the economic recovery of the country, they seem to have their apprehensions as well in meeting the challenge. SJB seems to be hesitant to field their Leader Sajith Premadasa for the duel with NPP Leader Anura Kumara Dissnayake, even though it is a Prez election that is to be held this year according to Constitution & Premadasa’s candidature for that election has long been confirmed by party. more..

Apr 20 (DM) The Dogs bark but the Caravan moves on is a proverbial saying of supposedly Turkish origin. A caravan refers to a group of people, animals or vehicles on the move. As is natural members of the canine species respond to the strange sight of a caravan in their midst by barking. This is especially so if there are animals in the caravan. Despite the dogs barking, the caravan proceeds on its journey. The moral is that an individual or group must continue on the journey toward more..