Dec 11 (ST) SL’s Foreign Direct Investment (FDI) has failed to achieve the desirable impact amidst the present economic setback, policy uncertainty and political instability along with the removal of tax concessions including tax holidays, a ministerial consultative committee report has revealed. Board of Investment (BOI), now acting as an intermediary rather than facilitator, has been directed to provide actual FDI data more..

Dec 11 (TM) Day 4 of the 47th Milo SL Schools All-Island Aquatic Championship concluded yesterday. The last day of the championship will take place today. Visakha Vidyalaya extended their lead in the girls’ segment, reaching 259 points at the end of the penultimate date of the championship. Second in line is Ladies’ College, who overtook Mahamaya Girls’ College by reaching 175.50 points. The girls from the hill capitol are not far behind at third place with only 172.50 points. more..

Dec 11 (EN) Police Mounted division has lost 7 horses due to feed shortage, a police official said, amid import bans. One horse has died from internal injuries that was caused due to lack of feed, while the other horses were suffering from various illnesses amid lower nutrition level, Police Media Spokesman said. “The deaths occurred in Feb, April, Oct and Nov,” he said. Each horse under the mounted division is worth around US$ 35,000 and currently there are around 50 horses that are being maintained, more..

Dec 11 (Island) SL’s High Commissioner to India Milinda Moragoda last week met with the Chairman of the Economic Advisory Council to the Prime Minister of India (EAC-PM) Dr. Bibek Debroy at the latter’s office in New Delhi and had an exchange of views, a news release from the New Delhi mission said. The Economic Advisory Council to the PM (EAC-PM) is an independent body constituted to give advice on economic and related issues to the Govt of India, specifically to the PM. more..

Dec 11 (SO) Two international duty-free operators and an international food and beverage operator have confirmed their investment in the proposed duty-free shopping mall in the Colombo Port City. Operations will commence in April next year. It will also be the first Downtown Duty-Free Mall in SL and in the region. The interior fit-out will begin soon after the infrastructure work is completed. The USD 7 million downtown duty-free mall infrastructure work will be completed this month and more..

Dec 11 (ST) The Power and Energy Ministry has appointed a new committee to start formulating draft legislation to revamp the electricity sector. It was appointed immediately after Ministers on Nov 28 approved the report of the earlier nine-member Cabinet-Appointed Committee on Power Sector Reform. It recommends, among other things, that the debt-ridden Ceylon Electricity Board be divided into 14 companies, with a 15th entity more..

Dec 11 (ST) SL is seeking funds from India, Japan, Singapore or some other donor agency totalling US$850 million as bridging finance until the proposed IMF facility is approved in the New Year, Finance Ministry sources disclosed. Talks are underway with these parties to get funds for a short period of six months. It has already obtained foreign financing of $1.87 billion by entering into eight agreements with foreign development partners and lending agencies in first 9 months of 2022, more..

Dec 11 (TM) A 91,000 MT consignment of Murban crude oil which arrived in November has begun to unload its consignment, with the process expected to end tomorrow. It is understood that the consignment is being unloaded through a new procurement modality, which the Govt introduced last month to navigate around the forex shortage and the incurrence of demurrage when tankers remain offshore awaiting payments. CPC Chairman Mohamed Uvais confirmed that the Murban more..

Dec 11 (CT) The fire that broke out in the Colombo Divisional Secretariat in 2012, causing Rs 90.2 million in damages, was not one that occurred naturally, but was a case of arson. The said fire that broke out in the building of the Colombo District Secretariat, which was over a hundred years old, destroyed over two million public documents on 26 Nov 2012. Fire broke out after an inflammable substance had been released in the office of Additional Secretariat. more..

Dec 11 (CT) Govt has still to pay USD 554.33 million or RMB Yuan 673.43 to the developers of the Hambantota Port, China Harbour Engineering Company (CHEC) through Exim Bank of China and the loan servicing is being carried out by the General Treasury. On the question of what the SLPA’s 15% stake, in money terms, earned annually under the leasing agreement, while the Hambantota Port’s 85% was sold to the Chinese, the SLPA responded that the royalty received annually from more..

Dec 11 (TM) Two years after the proposed Colombo Light Rail Transit (LRT) project was controversially terminated unilaterally by the SL Govt, SL is yet to take any action to terminate the loan agreement with Japan Int'l Cooperation Agency (JICA), National Audit Office (NAO) revealed. In the Special Audit Report on the Unilateral Termination of the Light Rail Transit System Project (from Colombo to Malabe) more..

Dec 11 (EN) Sri Lanka has restricted rice imports placing them under licensing from Dec 9, according to a gazette notice issued under the hand of Prez Ranil Wickremesinghe as minister of Finance. Prez told parliament on Dec 8, that SL is expecting a good harvest in the current main cultivation season and farmers had to be protected. There were stocks of rice two previous, he said. The import control notice said raw rice, milled rice and parboiled rice will require licenses from Dec 9, more..

Dec 11 (TM) The Govt is considering the use of local govt and public funds to invest in new companies which are expected to be placed under the Ceylon Electricity Board (CEB), following the envisaged unbundling process included in the power sector reforms. The matter is being considered as the Govt remains undecided on the option of allowing private investment for the companies that are to be formed under the new restructuring process to be adopted by the CEB. more..

Dec 11 (ST) With the comfortable passage of the 2023 budget now over, thus ensuring funding for the govt, Prez Ranil Wickremesinghe was busy this week on formulating a roadmap for the party leaders’ talks on ethnic reconciliation on Tuesday in the Parliament complex. The broader contours formed the subject of a tripartite discussion on Thursday at the President’s temporary residence at Paget Road. more..

Dec 12 (ST) Truth and Reconciliation is now again in the air, we are sublimely told by the Govt of SL. Prez Wickremesinghe, along with his merry men and women in Parliament in the Pohottuwa ranks are singing to the eminently hypocritical refrain of truth and reconciliation commissions and the like. It is perhaps only in this country that such bare faced political chicanery takes place while those in civil society who should speak out more in regard to that contradiction, preserving a discreet silence. more..

Dec 12 (GV) As the world marks another Human Rights Day, Sri Lanka is sinking deeper and deeper into an authoritarian regime where human rights are routinely flouted and international criticism is regularly ignored. The return to normality for a few means no more petrol queues or shortages of gas and milk powder but for the majority of people, this so-called stability has brought no relief from crushing hardships in face of escalating prices for essential food, electricity, petrol and gas. more..

Dec 12 (TM) National Police Commission (NPC) Chairman and former IGP Chandra Fernando was the subject of discussion over the past few weeks for being among those who were at the BIA to welcome SLPP National Organiser Basil Rajapaksa when the latter returned to the country from the US. In light of this incident, many parties questioned whether he – and the NPC, by extension – can truly be expected to act independently. more..

Dec 12 (CT) The JVP must change its position on the rights of the Tamil people. The Tamils are themselves no longer demanding secession therefore, self-determination in the Leninist sense, is irrelevant, but they must have the right to manage their affairs in their areas of domicile. In this context devolution is a useful term; the small print obviously has to be negotiated with the Sinhalese and the Muslim people and the Upcountry Tamils to the extent that they see themselves as different more..

Dec 12 (ST) The world’s third largest democracy, Indonesia, took a step back to the Middle Ages this week when it introduced a new penal code that makes sex before or outside marriage or living together, a criminal offence carrying a jail sentence, even for foreigners. The widely condemned move to put free love in a marital straight jacket, also makes it a criminal offence to attack the Indonesian President or to comment against the democratic state’s national ideology. more..

Dec 12 (SO) Minister Bandula Gunawardena said he is confident that it would be able to get some sort of relief in the first quarter of next year through debt restructuring and IMF assistance. Minister said he believes the ongoing discussions with the IMF would definitely reach a productive level before April next year. He said: “What we need is to get more and more foreign reserves. We should adopt the strategy to go for PPP more..

Dec 12 (DM) Last Thursday, a haze which many people believed to be a blanket of mist covered Colombo’s environs. However, the day’s particular haze was different from the mist which normally covers our skyline during the Christmas season. But the mist on Thursday continued through the day blocking out the sunlight. The country was in reality covered in smog. We were to learn later, that the north of our country was even more thickly blanketed by this particular mist. more..

Dec 12 (Island) The govt is determined to allow a rogue foreign company to exploit the Aruwakkalu ilmenite deposit and cause a huge loss to the State coffers. Pressure is mounting on some public officials to facilitate the corrupt deal expeditiously. Elections are the times when racketeers have a field day in this country, given venal politicians’ enormous appetite for dosh. In 2015, within a few weeks of the formation of the Yahapalana govt, a bunch of racketeers with links to the UNP committed more..

Dec 12 (DM) According to news flash and revelations by President, business tycoons that include Cheevaradharin have beaten politicos and public officials in frauds corruption? Under valuing and overvaluing in invoicing in imports and exports alone have cost our coffers a good US$4 billion a year. An SJB MP gestured at the Thriloka pathra lady in Parliament depicting the horrifying image of Kaali, [with his tongue stuck out and obscene facial expressions], is in hot water. more..

Dec 12 (DN) Jaffna Kings, defending champions, piled up a record-breaking total of 240 for 4 wickets as they defeated Dambulla Aura by 51 runs in their LPL cricket fixture played at the Pallekele International Cricket Stadium yesterday. Opener Rahmanullah Gurbaz scored a brisk 73 in 35 balls with 7 fours and 5 sixes while Avishka Fernando hit 54 in 30 balls with 6 fours and 2 fours and added a remarkable opening stand of 133 in 10.4 overs. Sadeera Samarawickrama (38 in 22 balls more..

Dec 12 (TM) Minister Kanchana Wijesekera stated that he would take all possible measures to ensure uninterrupted power supply by January next year, adding that they had taken steps to drastically reduce power cuts in the last few months. However, he pointed out that it was impossible to do so without revising the electricity tariffs and added that it would be best to revise the electricity bill every year in the months of more..

Dec 12 (TM) Galle Gladiators secured their first points in Season 3 of the Lanka Premier League (LPL) after beating Colombo Stars by 25 runs at Pallekele yesterday (11). Gladiators’ Skipper Kusal Mendis won the toss and elected to bat first. The opening pair of Mendis and Thanuka Dabare provided a blistering start for the Gladiators, who scored 75 runs in the first eight overs. However, both openers lost their wickets in quick succession to shift the momentum over to the Colombo Stars. more..

Dec 12 (Island) The headlines in the front page of the Daily News of Dec 7, states: Govt will formulate laws to repatriate US$ 53 billion. Quoting Minister Wijedasa Rajapakse, report states: “Exporters who earn Dollars do not bring that earnings back to SL but they deposit it in foreign banks. They bring limited amounts. We don’t have to face foreign exchange crisis if we can get this money back to SL”. Continuing, headers state further: Govt looking at removing loopholes in law in this regard. more..

Dec 12 (SO) Hambantota Int'l Port Group (HIPG) will kick-off a tourism campaign to attract cruise liners to the port for 2023/24 in the coming year. The number of cruise ships due to arrive at the port in 2023 is expected to triple from the 2022 numbers. CEO of HIPG, Johnson Liu said, “Looking at the prevailing global trends, we see an increase in routes kicking-off from the Middle East and concluding in the Far East. Hambantota, therefore, is an attractive destination in the chain of ports more..

Dec 12 (FT) SLPP General Secretary Sagara Kariyawasam claimed the SL people have not rejected the party. “Our voter base has remained unchanged and will remain so. We will not lose it just because 50,000-100,000 people joined the Aragalaya and took to the streets,” he said. MP said he is confident the next Govt will be formed by a faction led by the SLPP while the party will also be able to gain power in a majority of the local Govt institutions. Kariyawasam said the SLPP more..

Dec 12 (FT) Tourism industry is off to a promising start in December with the average daily arrivals exceeding 2,300 as opposed to 1,900 in November, marking it the highest since April. SL has welcomed 16,169 tourists during the first week of the month, largely driven by Russian travellers. The first week of December arrivals has also pushed the cumulative figure to date to 644,168, boosting anticipation among the tourism industry for more..

Dec 12 (SO) Fitness test for cricketers is very important but it has to be done very systematically according to Mario Villavarayen the assistant coach who performs a dual role as trainer and fast bowling coach of the Jaffna Kings in the LPL cricket tournament. Villavarayen the former SL A cricketer at onetime functioned as the qualified trainer of both SL and Bangladesh and pointed out the value of the players’ fitness levels. “For a player to live up to his talents he has to build up his fitness levels. more..

Dec 12 (FT) Transparency International SL (TISL) announced that nominations are now being accepted for Integrity Icon Sri Lanka (IISL) 2022/23, for the fifth consecutive year. The Integrity Icon campaign seeks to recognise and encourage public officials who carry out their duty with integrity, standing up against corruption, withstanding external and internal pressures. Last year, Integrity Icon Sri Lanka was carried out as a special edition, recognising COVID-19 frontline workers, more..

Dec 12 (AD) Prez Ranil Wickremesinghe emphasized the importance of youth participation in finding meaningful solutions to the current crisis facing the nation. He pointed out that solutions should be made to prepare the country to face the next 25 years. “Despite the economic and political situation of the country I decided to serve the voice of the youth and took over the country to create a better future for the youth. more..

Dec 12 (FT) Industry expert Suren Amarasekera has been appointed as an Independent Non- Executive Director to the Board of Sri Lanka Telecom PLC with effect from 9 December 2022. Amarasekera has expertise in the telecom industry spanning 29 years. He has been associated with globally renowned telcos: Singapore Telecommunications Ltd. (SingTel) in Singapore and Sri Lanka; Sri Lanka Telecom’s Mobitel; Maxis Berhad in Malaysia; Aircel Ltd. in India, and Ncell Axiata in Nepal. more..

Dec 12 (FT) Hatch, has scored another first, welcoming on board Mountain Lion Ventures – a Sri Lanka focused build up and scale up investment vehicle, as an investor into the Hatch Fund to provide start-ups with seed funding and bridge capital. The move is a real testament to the visibility Hatch has into the local start-up ecosystem and their ability to identify globally scalable start-ups through the multitude of incubator and accelerator programs they run. more..