Dec 2 (FT) Int'l Finance Corporation (IFC) announced the appointment of Alejandro Alvarez de la Campa as the new Country Manager for SL and Maldives. Based in Colombo, Alvarez de la Campa will lead IFC’s strategy in building a diversified portfolio and increasing impact in both countries, while helping strengthen sustainable private sector development to promote inclusive growth. A Spanish national, Alvarez de la Campa joined IFC in 2004 and has extensive experience working across more..

Dec 2 (FT) SJB MP Imthiaz Bakeer Markar says Sri Lanka must increase its investment in the country’s education sector. He said the quality of education in Sri Lanka has dropped post-1950. “It is my belief that we cannot be satisfied with the matters of university rankings and the need to reform our education to suit the needs of this century and beyond,” he said. Stressing that one must set aside narrow political aims when making decisions about education, Bakeer Markar said often program more..

Dec 2 (ST) Delays by the port authorities in taking action during the five-day window between the start of the fire onboard the X-Press Pearl ship and the time the crew abandoned it continue to be a matter of debate as the blame-game rages as to who was really to blame for the disaster. The fire onboard the vessel was first reported on May 20 last year and the remaining crew members abandoned ship on May 25 as fire raged out of control more..

Dec 2 (FT) The Commercial Bank of Ceylon has announced that its Rs. 10 billion debenture issue closed within hours of opening after it was oversubscribed on opening day (Dec 1), in a noteworthy vote of confidence from investors. The debentures to the value of Rs. 10 billion are being issued to further strengthen the Tier 2 capital base of the Bank, bridge maturity mismatches in the assets and liabilities portfolio of the Bank and raise funds for the expansion of Bank’s lending portfolio, more..

Dec 2 (FT) SLPP MP Madhura Vithanage gave State officials a dressing down in Parliament on Tuesday, claiming they often facilitate the corrupt actions of those in power. “We come into power for only a period of five years. I have complained to the Secretary to the Ministry of Finance about those who facilitate the corruption of these politicians during that period to then welcome another thereafter only to carry out the same process,” he said referring to public sector officials. more..

Dec 2 (FT) Sri Lanka Tourism yesterday outlined key strategies to double the arrivals to 1.5 million and to generate an income of over $ 5 billion highlighting the sector as a major economic driver. “We have set an ambitious arrival target of 1.5 million tourists for next year and a 3 million arrivals target for 2024. I am confident that we can make a leapfrog to growth from 2024 onwards,” Tourism Minister Harin Fernando said more..

Dec 2 (ST) Prima has come forward as the sole sponsor for the Under-15 SL Youth League (SLYL) Inter-District and Inter-Provincial Tournament organised and structured by the SL Cricket National Talent Pathway Programme with the objective of identifying youth cricketers with potential at an early age. The Prima Under-15 SLYL 2022 Tournament’s provincial level 50-over match series commenced on Nov 21 with the participation of youth cricketers selected from district level and more..

Dec 2 (TM) In an attempt to ensure that the most deserving sectors of the population, including those who have been on the pending Samurdhi allowance lists for a prolonged period receive their due support, the Govt intends to stop providing the Samurdhi allowance to those who are currently receiving it but have failed to meet the required criteria. Prez highlighted that there were a considerable number of recipients of the Samurdhi allowance who are not eligible to receive it. more..

Dec 2 (EN) The cost of yarn smuggled to Sri Lanka by monopoly was too expensive a minister said as the country went through the worst currency crisis in the history of its intermediate regime central bank triggering forex shortages. “We know that there is a monopoly bringing fabric materials from India through Batticaloa,” State Minister of Small and Medium Enterprises Development Prasanna Ranaweera told parliament. “As a result of this monopoly the cost of yarn is very high.” more..

Dec 2 (Island) Asian Youth Athletics C'ship participants, sprinter Salamuthu Jayathilaka and jumper Nethmika Herath have a strong message to deliver when they vie for honours on day one of the All Island Schools Games Athletics C'ships which starts at the Sugathadasa Stadium today. Thurstan College athlete Jayathilaka and Nannapurava MV, Bibila long jumper Nethmika are the favourites in their respective age group events when the Education Ministry conducted event makes more..

Dec 2 (TM) A number of activities were held in Parliament yesterday under the leadership of the Women Parliamentarians’ Caucus in support of the 16 days of activism against gender-based violence (GBV). Women MPs and Parliamentary women staff officers were dressed in orange to support the programme. A wristband with the message Let’s Unite to end Gender-Based Violence was presented to Prez Ranil Wickremesinghe more..

Dec 2 (EN) Sri Lanka has extended a deadline imposed for filing income tax returns by a week from Nov 30, State Minister Shehan Semasinghe told parliament. He said that the software used for income tax returns submissions has been overloaded owing to the Nov 30 deadline. Taxpayers were supposed to submit documentation for personal income tax, corporate tax, partnership tax and other taxes, but the deadline triggered a rush of submissions clogging the system, more..

Dec 2 (FR) Fitch on Thursday downgraded Sri Lanka’s Long-Term local-currency debt rating by two notches to “CC” from “CCC”, citing a probable local-currency debt default in the face of high interest costs and tight domestic financing conditions. The South Asian country is suffering its worst financial turmoil since independence from Britain in 1948 as a result of economic mismanagement, as well as the COVID-19 pandemic that wiped out the Indian Ocean island’s key tourism industry. more..

Dec 2 (RW) Govt of Japan has provided a total sum of US$ 648,148 (Rs. 232 million) to the Mines Advisory Group (MAG) for humanitarian demining activities in the North and East Sri Lanka. The grant contract was signed on the 30th of Nov between MIZUKOSHI Hideaki, Ambassador of Japan, and Ms. Cristy McLennan, Country Director of MAG. Through Japanese assistance, this is the 14th demining project implemented by MAG. The previous 13 projects have released over more..

Dec 2 (ICC) Sri Lanka player Wanindu Hasaranga has been handed an official reprimand for breaching Level 1 of the ICC Code of Conduct during the third ODI of the ICC Men’s Cricket World Cup Super League series against Afghanistan in Pallekele on Wednesday. Hasaranga was found to have breached Article 2.8 of the ICC Code of Conduct for Players and Player Support Personnel, which relates to showing dissent at an Umpire’s decision during an International Match. more..

Dec 2 (TM) The All-Ceylon Medical Officers’ Association (ACMOA) has claimed that nearly 3 million people receiving treatment for non-communicable diseases (NCDs), 1 million people suffering from preventable blindness, 10,000 patients on pending lists to undergo bypass surgery, and 10,000 cancer patients are currently seriously affected due to prevailing shortage of pharmaceutical drugs & medical equipment more..

Dec 2 (Island) If you had no idea why Roy Dias identified Charith Asalanka as a Test captain in the waiting some seven years ago, there was proof for his claims at Pallekele on Wednesday as the diminutive left-hander from Elpitiya pulled off a stunning run chase against Afghanistan. SL chased down a target of 314 in the last over with Asalanka finishing things off in style with a pulled six. What’s so special with the win is that it is SL’s highest successful run chase ever at home. more..

Dec 2 (AD) Prez Ranil Wickremesinghe said that a bill on gender equality and women’s empowerment will be submitted to Parliament soon and he has instructed the women parliamentarians’ caucus to prepare the bill. The President emphasized that women’s representation should be increased not only in the Parliament but also in other sectors and the public sector as well as the private sector should focus their attention in this regard. Prez pointed out that representation of women in First Council more..

Dec 2 (TM) Prez Ranil Wickremesinghe told Parliament that he is ready to proceed with certifying private universities without holding unnecessary discussions with the likes of the FSP and GMOA, whom he cited as the reason for the closure and abolition of SAITM in 2018. “Former Prez Mahinda Rajapaksa granted approval to SAITM. Then, during the Prez election, he said that GMOA & IUSF should oppose SAITM. more..

Dec 2 (AD) With the apparel industry aiming towards USD 8 billion in export revenue by 2025, Chairman of the SL Apparel Exporters Association (SLAEA) Indika Liyanahewage highlighted five key policy reforms that are imperative for the industry to move forward. Speaking at the recently concluded SLAEA AGM, he emphasized the revision of the exorbitantly high corporate income tax of 30%, expansion to strategic markets by securing more FTAs, mandatory dollar conversions to be increased more..

Dec 2 (FT) Migrant worker’s remittance is the second largest foreign exchange generating sector for SL (Table 1). According to the SL Bureau of Foreign Employment (SLBFU), during the past decade, it has been reported around 250,000 Sri Lankans leave the country every year for foreign employment except 2020 and 2021 due to outbreak of the COVID-19 pandemic. There was a drastic decline in the workers remittances in 2021 as illustrated in Table 1, due to artificial control more..

Dec 2 (FT) The political situation of the country is in a state of extreme confusion. It can be said that the nature of the political power struggle in SL has assumed a new and awfully complex form since the recent public uprising that caused the two Rajapaksa brothers to lose their positions. The series of events related to the Aragalaya that caused Mahinda to lose the post of PM and Gotabaya to lose the Presidency has led the people to believe that even a public uprising outside more..

Dec 2 (DM) University entrance cut-off marks for the candidates of 2021 G.C.E. A/L exam have been released by the UGC. The cut-off marks can be accessed from the official website of the UGC – https://admission.ugc.ac.lk/selection/ Registration for the selected course and the university will be informed to the candidates within two weeks via SMS and e-mail. UGC chairman stated that appeals can be made within a period 30 days. The exam was held from February 07 to March 05 this year more..

Dec 2 (EN) State Tourism Minister Diana Gamage wants the island nation’s wine stores to opened all the time if the country wants to boost tourism. Gamage has been vocal on opening up night time life to attract more tourists and boost foreign exchange revenue for the country to move out of the crisis. “When tourists come, if all they have to do is roam around and go to sleep at 10 pm every night in front of their hotel room TV, more..

Dec 2 (NR) Chairperson of National Council sub-committee on identifying short- and medium-term programs related to economic stabilisation Patali Champika Ranawaka says proposals related to earning Rs.3,500 billion, of the expected govt revenue next year, will be included in his second committee report. MP Ranawaka expressed his views during a meeting with officials of the Inland Revenue Department, SL Customs and the Excise Department recently to discuss matters more..

Dec 2 (Island) Most SL parents are compelled to choose between food for their families and their children’s education, SJB MP Rohini Kumari Wijerathne told Parliament yesterday. Only a few parents were able to feed and educate their children the MP said, participating in the debate on Budget 2023 under the expenditure heads of Ministries of Education and Women and Child Affairs. “An 80-page exercise book costs Rs. 200. A CR book costs Rs 560. A pencil or pen costs Rs 40. more..

Dec 2 (TM) Calling on the Govt to prepare a programme to bear the sum of Rs. 6 billion that the private sector has had to spend annually on paying salaries to female employees on maternity leave, SJB MP Eran Wickramaratne said that the implementation of such a programme will undoubtedly increase the contribution of women to the country’s economic growth. Speaking in Parliament, he said: more..

Dec 2 (EN) Shares gained for the sixth session on Friday closing on positive sentiments due to expectations of easing market interest rates and generated the highest turnover in two months, brokers said. ASPI closed 0.61% or 65.94 points higher at 8,769.73, the highest index gain since October 27. The market witnessed a turnover of 4 billion rupees, higher than this year’s daily average turnover of 3 billion rupees. This is the highest turnover generated since September 27. more..

Dec 2 (EN) Tourists from Russia and Ukraine who are staying in houses in Sri Lanka for long periods are engaging in business activities and should be taxed to prevent them being knifed by competitors, a legislator said. “There are many tourists who are staying long term in houses,” SLPP MP Chandima Weerakkody told parliament. “Though then come to Sri Lanka they cannot use their credit cards especially Russian and Ukraine tourists cannot use their money through their cards. more..

Dec 2 (DM) A 27-year old soldier has been arrested for an alleged verbal sexual assault on a Woman cop at the Mawanella police station. Police said the policewoman complained to police that two persons who came to the police station had sexually harassed her by using obscene language and innuendos. According to the complaint, policewoman alleged that one of the men had made derogatory remarks about her while she was on duty at the police station. more..

Dec 2 (EN) After an unprecedented economic and foreign exchange crisis, Sri Lanka President Ranil Wickremesinghe said the island nation should consider becoming a regional hub for education in order to retain the forex outflow of the country as more students go abroad for higher education. Sri Lanka has banned dollar payments in mid-2022 to contain the dollar outflows from the country after it faced a severe shortage of forex following the rupee was floated in March 2022. more..

Dec 2 (AD) TNA MP Shanakiyan Rasamanickam has responded to the recent clapbacks made by the Chinese Embassy to a statement he made in Parliament earlier this week. Rasamanickam raised concerns about the Embassy’s involvement in matters discussed within the Parliament, adding that this was a grave threat to SL’s sovereignty. “What does the Chinese Embassy have to do with matters more..

Dec 2 (Island) The govt had allocated only eight billion rupees for capital expenditure of the Ministry of Industries, SJB MP Buddhika Pathirana said. “The govt talks about food security. But only six billion rupees has been allocated for the Ministry of Food Security. The govt has allocated a pittance to these important ministries and talented individuals have been sidelined,” he said. MP said that the govt must first formulate policies to develop industries, ensure food security and promote exports. more..

Dec 2 (TM) Considering the decrease in the prices of crude oil in the global markets, the prices of all types of fuel should be reduced by at least Rs. 100 in December, said CPC JSS Secretary Ananda Palitha. He noted that prices of fuel should be reduced by a minimum of Rs. 100 according to the fuel pricing formula. “Minister Kanchana Wijesekera says that on the first of every month, fuel price formula will be applied. The prices of crude oil and refined oil have gone down in global markets. more..

Dec 2 (TM) Ceylon Teachers’ Union (CTU) General Secretary Joseph Stalin claimed that the news currently circulating about their involvement in requesting a uniform allowance for teachers or that they are behind the campaign to replace sarees with convenient clothes for teachers were funded by the Govt and baseless. Stalin said that they had only requested the Ministry of Education to allow teachers to seek redress from Govt circular more..