Aug 30 (Island) Winston Churchill derisively called the Soviet Union a riddle wrapped in a mystery inside an enigma. One may, with apologies to him, call the present-day SL a paradox enveloped in an irony inside a muddle. What is happening in this country defies comprehension, and is even more puzzling than the Paradox of Rationality, or the so-called rationality of irrationality. Government leaders and the public behave as if they considered irrational behaviour rewarding, but sadly it is not so more..

Aug 30 (ST) Virashmi Kodituwakku, the 27-year-old assistant lecturer who tragically died after falling off Utuwankanda in Mawanella, during an expedition was a founder of the Peradeniya Uni’s Explorers Club, and was no novice at hiking and mountain climbing. Her fellow club members said she had climbed mountains and mountain ranges such as Bathalagoda, Arangala and Hanthana. Uni of Peradeniya Deputy VC Prof. Mudajith said one of the most important guidelines of more..

Aug 30 (ST) Relative shortages of the low-grade paper, called newsprint, used by newspaper publishers, and price inflation, have regularly emerged to haunt the print industry. Back in 1951, such a deficit drew the attention of the UN’s Economic and Social Council, which adopted a resolution, proposing solutions and asking the main consumers to cut down on consumption and paper mills to raise output, UN records show. more..

Aug 30 (Island) In the national media of 21 August 2022, the UGC Chairman goes on record saying that, as university authorities deliberate the possibilities of bringing students back to campuses while the nation grapples with a devastating economic collapse and the pandemic, online education will continue to function as an interim measure. He said that data facilities had been provided to students and discussions have been held with telecom providers to strengthen more..

Aug 30 (ST) Rizly Illyas was reelected uncontested as President of Sri Lanka Rugby (SLR) for the forthcoming tenure of two years at its AGM held at National Olympic Committee Auditorium yesterday. All office bearers were elected uncontested and will hold office until 2024. Former Secretary of SLR, Group Captain Nalin de Silva, a brilliant player who turned out for Air Force and SL, was elected as Deputy President, while H.A.U.D. Hettiarachchi was elected as Vice President. more..

Aug 30 (FT) Saddled with nearly half a trillion rupee accumulated losses and $ 1 billion in debt and dues, SriLankan Airlines Group is to be restructured inviting foreign operators to take up 49% equity stake and management to ensure the national carrier no longer becomes a burden on the public. Minister Nimal Siripala de Silva revealed the way forward for SL’s flag carrier which he will propose to the Cabinet for final approval. more..

Aug 30 (TM) Contrary to the expected outcome, a number of goods with controlled prices are either being sold at higher rates that stipulated, or are in such scarce supply that they cannot be purchased even at higher prices. Chicken eggs are one such product that became scarce following the Govt’s decision to impose maximum retail prices. However, in the face of great opposition from egg sellers and producers due to their inability to sell eggs at the controlled prices and grievances from more..

Aug 30 (FT) In response to Sri Lanka’s economic and humanitarian crisis, Deutsche Bank has donated 40,000 euros (approximately Rs. 14.6 million) to provide medicines, storage equipment and 1,000 packets of food to the most vulnerable citizens of the country. The Bank’s staff also rallied their support to raise an additional 7,453 euros (Rs. 1.9 million) for this cause. Staff also participated in yoga sessions on World Meditation Day on 20 May, to raise awareness about the situation in SL. more..

Aug 30 (FT) Ceylinco Life has entered into an exciting partnership with Kings Hospital Ltd., one of the newest and most modern private hospitals, through a major equity investment, thereby significantly enlarging the company’s footprint in the healthcare sector and diversifying its investment portfolio. The company in a statement said this strategic investment has been made via a private placement with an option to further increase its holding in the 120-bed hospital. more..

Aug 30 (FT) Says e-govt need of the hour to successfully achieve people’s call for greater transparency, efficiency and productivity Stresses leapfrogging into digital age an opportunity for SL. PickMe Chairman Ajit Gunewardene is urging the Govt to prioritise an integrated digital backbone for the country if to successfully achieve the people’s call for greater transparency, efficiency and productivity. “E-govt is the need of the hour. Over the years these solutions have been tripped up more..

Aug 30 (TM) The National Water Supply and Drainage Board (NWSDB) is to discuss the water bill related arrears of very important persons (VIPs) with Speaker of Parliament Mahinda Yapa Abeywardana on 1 September, while a new water tariff is to be introduced from next month. Speaking to The Morning, NWSDB Assistant General Manager Piyal Pathmanatha said that the discussion would be on how to recover Rs. 13 million from the VIPs, more..

Aug 30 (ST) SL export companies and other forex-earning firms are posting hefty results, benefiting from the currency depreciation. Export companies in major conglomerates, plantation companies and logistics firms are recording unprecedented profits with analysts saying that the results show the bulk of their net financing income generated through depreciation of the local currency. Companies such as LIOC recorded impressive results due to the fuel price hikes backed by currency depreciation. more..

Aug 30 (DN) Chairman, National Sports Council (NSC), and former Minister Arjuna Ranatunga played another masterstroke when he prevented seven officials of Sri Lanka Cricket (SLC), from making a joyride for the Asia Cup T20 Cricket Tournament in Dubai. 1996 World Cup winning Captain and former Chairman of SLC Interim Committee made these comments to the media after he had called on Malwathu-Asgiri Chief Prelates in Kandy. The scheduled trip by the 7 officials more..

Aug 30 (EN) Sri Lanka is planning to cut a part of its debt by spinning of profitable units before trying to attract a buyer Aviation Minister Nimal Siripala has said. SriLankan Airlines now had a sovereign guaranteed bond of US$ 175 million, loans to the People’s Bank and Bank of Ceylon of US$ 386 million, CPC, AASL and CAA was owned US$ 325 million, he said. There were arrears of US$ 80 million for aircraft lease payment. more..

Aug 30 (DN) SL cricket team is expected to make few changes for the next Asia Cup Bangladesh game which scheduled to be held on Sept 1 at the Dubai Int'l Cricket Stadium. After getting shock defeat from Afganistan at the opening game Dasun Shanaka and his team is getting training here in Dubai while normally the temperature is very high about 40-42 C and all the players have adjusted to the condition in Dubai. Bangladesh and Afghanistan match is scheduled to be held today more..

Aug 30 (FT) Trade, Commerce, and Food Security Ministry announced that it will revise the existing Maximum Retail Price (MRP) imposed on eggs, by including the cost of packaging. As per the Ministry, the eggs sold under the MRP in supermarkets do not include the packaging costs and thus it has been identified as unfair for those suppliers. Thereby, the Ministry said separate MRPs will be set for packaged white and brown eggs. On 19 Aug, the Consumer Affairs Authority imposed MRP more..

Aug 30 (AD) The US will redouble efforts to support SL through ongoing efforts like financing for SMEs, fertilizer and seeds for farmers, education exchange and training to strengthen public financial management, US Ambassador Julie Chung said. She said the US will support SL through the IMF as well, if an agreement can be reached. In a tweet, the ambassador said she spoke with the SL-USA Business Council of the Ceylon Chamber of Commerce on ways US and SL businesses more..

Aug 30 (FT) Prez and Finance Minister Ranil Wickremesinghe will present a mini-Budget today by way of the Appropriation (Amd) Bill to amend Appropriation Act No. 30 of 2021 when Parliament convenes at 1 p.m. Prez is to present the second reading of the Appropriation (Amd) Bill following which, the Parliament will be adjourned. With expenditure and borrowing limits increased to offer relief to people and address other priority needs, Wickremesinghe is expected to announce more..

Aug 30 (Island) SJB leader Sajith Premadasa yesterday lashed out at the govt for failing to check rampant corruption. Premadasa asked whether Prez Ranil Wickremesinghe, govt wanted his party to accept ministerial portfolios to share the ill-gotten gains from the latest corrupt deal (USD 1.5 bn) pertaining to the procurement of 4.5 mn mt of coal for the Norochcholai power plant. The SJB leader lambasted the govt at an entry point more..

Aug 30 (DM) SLA posted a loss of US $ 1.5 million in July, as the airline was forced to make fuel stops outside the country, due to the jet fuel shortage in the country. After 16 years, SLA reported a US $ 10.66 million profit in Dec 2021 and a profit of US $ 1.7 million in the March 2022 quarter. This was a direct result of various measures taken in the 2021-22 financial year, including scaling down staff costs and overheads, renegotiating supplier contracts, increasing cargo revenue and creating more..

Aug 30 (CT) Sri Lankan skipper Gayanjali Amarawansa is confident the lasses will put up a good show and return victorious at the Asian Netball Championship which will run from 3-11 September at the OCBC Arena, Singapore. “We were preparing from January and the team is in a good shape. We got a strong squad with 8 experience players and 4 newcomers. We are the defending champions and as a team our main priority is to defend the title at any cost,” said skipper prior to departure. more..

Aug 30 (Island) SJB MP Dr. Harsha de Silva said that he was quite disappointed that his economic revival plan, or common minimum programme, presented in parliament on 12 Aug hadn’t received the anticipated response from political parties, represented in Parliament. He said so when asked him whether political parties and Prez Wickremesinghe reacted to his plan. MP said that he was not angry but appalled at the way more..

Aug 30 (HT) SL is seeking six gaurs, or Indian bison, from India as part of a proposal to reintroduce the animal into the island nation, where it is believed to have gone extinct sometime in the 17th Century, people familiar with the matter said. The proposal, made by the SL side to India’s external affairs ministry earlier this month, comes at a time when India is working with Namibia to reintroduce cheetahs into the wild in Madhya Pradesh, decades after they went extinct in the country. more..

Aug 30 (EN) PM Dinesh Gunewardena has sought proposals from political parties for setting up extra oversight committees in parliament and a National Council at a meeting with political parties. Prez Wickremesinghe has proposed oversight committees in the style of an earlier Executive Committee system to get more members of parliament including the opposition, involved in governance. PM has asked for proposals to be submitted by Aug 31 for new oversight more..

Aug 30 (TM) Amidst protests outside Parliament and fierce debates in Parliament against the recent increase in electricity tariffs, Minister Kanchana Wijesekera defended the tariff increase in Parliament, claiming that when the increments are presented in percentages, they paint an inaccurate picture. Minister explained that monthly electricity bills that were extremely small were increased to cover production costs, while providing rates more..

Aug 30 (FT) There was an IMF team in town. According to the Sunday papers, Govt, and some Opposition MPs had thought, too optimistically, that the administration of Prez Ranil Wickremesinghe was on track to conclude a staff level agreement with the visiting team. IMF instead announced that SL’s public debt is unsustainable and they would need assurances from SL’s creditors that debt sustainability would be restored, before an agreement could be reached. more..

Aug 30 (FT) Many Sri Lankans likely feel that 9 July 2022 was one of the most unforgettable days in SL’s modern history. We all remember it, some of us perhaps in greater detail than others. We all, in one way or another, watched former Prez Rajapaksa flee his then official residence in Colombo as thousands of protestors stormed his residence. This act by the protestors was commended by most as a demonstration of the people’s right to exercise their will in a democracy where its leader more..

Aug 30 (EN) Sri Lanka will give 20% of stock in state banks to workers and depositors, Prez Ranil Wickremesinghe said presenting a revised budget to parliament. SL’s banks are facing higher bad loans and market to market losses on bonds holdings in 2022 after interest rates rose sharply after the collapse of a soft-peg. There has been concern that rupee bonds may also be re-structured which may further hurt banks. Selling down stock in state-banks are opposed by some trade unions. more..

Aug 30 (AD) Prez Ranil Wickremesinghe has proposed to introduce compulsory tax registration for all residents who are aged above 18 years without considering their annual income and tax-free thresholds. He stated this during the second reading of the Appropriation (Amendment) Bill, for the remainder of the fiscal year 2022, to the parliament this afternoon. Speaking further, Head of State said the country’s tax administration must play a pivotal role to increase efficiency of tax collection, more..

Aug 30 (EN) Prez Ranil Wickremesinghe presented an interim budget for this year with an ambitious govt revenue and debt reduction targets as the economic crisis-hit island nation is struggling to get out of the worst economic crisis in its post-independence era. The country, which has already defaulted its sovereign debts, is in the process of discussing an IMF loan amid debt restructuring talks with its bilateral and sovereign debt lenders more..

Aug 30 (AD) Three suspects have been arrested in connection with the incident of assaulting the Western Province Senior DIG Deshabandu Tennakoon and two other police officers in May this year. On May 10, amidst nationwide unrest that broke out after a brazen attack on the main anti-govt protest sites in Colombo on the day before, Senior DIG Tennakoon sustained minor injuries in an assault carried out by an angry mob at Perahera Mawatha near the Beira Lake in Colombo. more..

Aug 30 (EN) SL will increase value-added tax (VAT) to 15% from the current 12% starting Sept 1, Prez Ranil Wickremesinghe said. Presenting an interim budget for the remainder of the year, Wickremesinghe told parliament on Tuesday Aug 30 that it was unfortunate that the fiscal path SL was set on from the years to 2019 was changed. His predecessor, Prez Rajapaksa, made sweeping changes to SL’s tax regime, which experts say contributed significantly to the country’s more..

Aug 30 (AFP) Cash-strapped SL's Prez announced further tax hikes and sweeping reforms on Tuesday, saying that bailout talks with the IMF were in the final stage. The country of 22 million people has suffered months of dire shortages and protests culminating in the ouster of Gotabaya Rajapaksa last month. Presenting a new budget, his successor Ranil Wickremesinghe said that VAT would rise from 12 to 15% for all goods more..

Aug 30 (DM) The Education Ministry has taken the necessary measures to print the required school textbooks for the coming year. They said the ministry had allocated Rs. 16,483 million for the printing of the text books for the year 2023. The paper requirement for the printing of text books, examination papers and to use for answer scripts will be imported under the Indian credit line facility. The steps related to inviting bids, opening, etc., have already been completed. more..

Aug 30 (AD) The govt has decided to establish a State-Owned Enterprise Restructuring Unit with the aim of facilitating the restructuring of govt-owned business entities. Presenting the Interim Budget 2022 Prez Wickremesinghe further proposed to allocate Rs. 200 million to implement this proposal. He mentioned that the decision was taken as some of the state-owned enterprises have been making losses on a continuous basis due to issues of structural nature existed for some time. more..

Aug 30 (Xinhua) Tourism Minister Harin Fernando said the country has extended its multiple-entry tourist visa to five years to boost repeat tourism. Minister said that Sri Lanka now offers one-year multiple entry visas. The country also issues single entry visas with a six-month stay period. The minister said that the cabinet of ministers approved his proposal on Monday. "Cabinet agreed to extend five-year multiple entry tourist visas for 35 countries to help boost repeat tourism in Sri Lanka. more..