Dec 6 (TM) Central Bank of SL (CBSL) is unable to take legal action against exporters who have not repatriated their foreign exchange earnings into the country, as Foreign Exchange Act No. 12 of 2017 does not specify any action to be taken against such offences, it was revealed in Parliament. MP Wimal Weerawansa said that Foreign Exchange Act implemented in 2017 removed action against exporters who more..

Dec 6 (FT) The Commercial Bank of Ceylon has been proclaimed the Strongest Bank in Sri Lanka in 2022 by Asian Banker, a leading platform in the Banking and Financial Services industry. The bank received this ranking based on the strength of its balance sheet, following a rigorous quantitative assessment of the financial performance of banks in the Asia Pacific region. The evaluation comprised of six crucial indicators weighted by their relative importance. more..

Dec 6 (ET) Sri Lanka will resume flights from the northern Jaffna peninsula to Chennai by next week, a senior minister has said, a move that will help the cash-strapped country's tourism sector and provide a fillip to its beleaguered economy. The tourism sector is the main source of foreign exchange earnings for Sri Lanka. However, the onset of the pandemic in 2020 severely crippled the tourism sector and was one of the major reasons for Sri Lanka's economic travails. more..

Dec 6 (Island) The CEB top management strongly believes that Power and Energy Minister Kanchana Wijesekara had rightly stated that tariff hike is a must for the survival of the CEB, unless fuel is given at a very concessionary rate. Wijesekara yesterday also said that the Govt hasn’t proposed to recover past losses of the Board from a tariff revision as asserted by the electricity sector regulator, PUCSL. more..

Dec 6 (Island) Sri Lanka was yet to estimate its financial commitment towards implementing the Sustainable Development Goals (SDGs) and had not assessed its potential gains from such an investment and is yet to align its national economic policies, financial systems and investment strategies with the 2030 Agenda, noted Executive Director of the Centre for Environment and Development, Uchita de Zoysa, last week. Speaking at the Symposium on the National Crisis from more..

Dec 6 (NW) Hundreds of Sri Lankan protestors recently took to the streets, frustrated with the South Asian country's worst economic crisis in seven decades. Sri Lanka's crisis is no mere financial downturn, like Americans are experiencing now. Our economic system is literally collapsing, with millions of people in desperate need of humanitarian aid. Ten-hour blackouts have become part of daily life in Sri Lanka. Food, water, and other basic necessities are not guaranteed. more..

Dec 6 (wsws) On Nov 30, Brandix Essentials, an apparel manufacturing company in the Koggala Free Trade Zone (KFTZ), locked out about 1,500 workers after they stopped work to protest the slashing of their annual bonus by half. The factory management informed workers two days earlier their bonus would be cut because the factory was running at a loss. The next day workers refused to work and gathered in the factory canteen demanding full payment of the bonus. After employees went home, more..

Dec 6 (DM) The World Bank approved SL’s request to access concessional financing from the International Development Association (IDA). This type of financing, which is offered at low interest rates, will enable the country to implement its govt-led reform program to stabilize the economy and protect the livelihood of millions of people facing poverty and hunger. The request is the result of SL’s sustained deterioration in economic and social conditions, which have reduced income more..

Dec 6 (DM) Not only the school canteens, but school children's buses and vans will be checked for drugs in partnership with the police, along with the program to eradicate the drug menace from schools, Education Minister Susil Premajayantha said. He stated that a drug prevention program, in addition to the nutrition program, is currently being implemented in 144 schools in Colombo, and that the program more..

Dec 6 (AN) Coordinating Minister for Maritime Affairs and Investment, Luhut Binsar Pandjaitan, held bilateral talks with Sri Lankan Foreign Minister Tharaka Balasuriya on Monday to discuss cooperation in maritime security and safety and blue economy investment. "Indonesia and SL need to better increase economic cooperation," Pandjaitan said at the meeting, which was held on the sidelines of the Archipelagic and Island State Forum (AID) in the Indonesian resort island of Bali. more..

Dec 6 (Island) Commemorating the arrival Sanghamitta Theri from India to Sri Lanka, the second volume of the Jataka Tales Audio Book in Sinhala was released at Swami Vivekananda Cultural Centre (SVCC), the cultural arm of the High Commission of India on 2 Dec 2022. The Audio Book contains 50 Jataka Tales, selected from Jatakattakatha, under the theme of Good Advice, and is dedicated to the people of Sri Lanka, particularly the visually impaired. more..

Dec 6 (TM) UDA Director General (DG) Prasad Ranaweera said that the UDA is unaware of where the affected residents of the Kajeemawatta flats in Thotalanga – where a fire broke out two months ago – are currently located, but that a report had been submitted by the committee that was appointed by PM Dinesh Gunawardena to the Colombo Govt Agent, and that the said committee is yet to meet and more..

Dec 6 (DM) Sri Lanka needs a coordinated assistance programme supported by multilateral financial institutions, representatives of the WB, ADB, IMF and Asian Infrastructure Investment Bank agreed after meeting Prez Ranil Wickremesinghe today. They reached the agreement following a lengthy round table discussion held in Colombo where the Prez Wickremesinghe presented SL’s development programme for economic recovery and long term development. more..

Dec 6 (AD) Nearly three in ten households consume insufficient levels of food, a report by the Office for the Coordination of Humanitarian Affairs (OCHA) Regional Office for Asia & Pacific (ROAP) has revealed. SL continues to face a multidimensional crisis compounded by food insecurity, threatened livelihoods, shortages of vital and essential medicines, as well as rising protection concerns, report highlighted, noting that the ongoing crisis is one of the worst since SL’s independence more..

Dec 7 (TM) Pointing out a menace that many knew exists, Minister Wijeyadasa Rajapakshe said that there is an increasing trend of illegal drugs such as heroin that had been seized by the authorities, returning to the streets from Police/court custody. Speaking in Parliament, he expressed concerns that there were instances where officers of the Police Narcotics Bureau were sending seized illegal drugs back to the market, and that necessary legal action was since sought against those officers. more..

Dec 7 (CT) Poverty pushes people to the brink, forcing them into doing the unimaginable just to get through each day. The dilemma presently faced by the country has clearly resulted in an extreme loop of poverty, with many battling through socio-economic issues. It is in such a backdrop and in an unexpected turn of events that Ceylon Today exposed a kidney racket targeting the poor. People from poverty-stricken families, who live around estates in Ukuwela, have become victims more..

Dec 7 (TM) The resumption of operations at SL's only oil refinery in Sapugaskanda faces further delays due to foreign exchange shortages for crude oil purchases and storage volume issues at the refinery premises. It is learnt that a final decision is yet to be reached on unloading the Murban crude oil shipment that has reached the country, as discussions have not yet been concluded on the implementation of a new more..

Dec 7 (DM) Sri Lanka’s state-run CEB has run up losses of billions of rupees in the first quarter of 2022. Our sister publication the Daily FT reports Power and Energy Minister Kanchana Wijesekera saying recently, the CEB is likely to make a loss of Rs.152 billion in the next four months. Since April, power cuts have been imposed on a daily basis. Minister Wijesekera on December 4 this year revealed that according to CEB estimates, a single unit of electricity costs Rs.56.90. more..

Dec 7 (DM) Prez Ranil Wickremesinghe will be meeting the Tamil parties of the Northern and Eastern Provinces on December 11 to find a solution to the longstanding Tamil issue. But the chances of a solution emerging look extremely dim given the fact that the gulf between the govt and the Tamils has widened in the past few months thanks to Wickremesinghe’s statements. The abject failure of past engagements between SL govts and Tamils is also casting a shadow on forthcoming talks. more..

Dec 7 (TM) Govt of SL last week pushed back against strong criticism calling for the national defence and security establishment to be urgently reformed and the continued colossal expenditure on defence to be curtailed, as the bankrupt island nation struggles to regain its feet following an unprecedented economic crisis. According to the Budget estimates for 2023, Govt plans to spend Rs. 410 billion on defence, more..

Dec 7 (CT) With shortened and even total disappearance of human queues standing in hot sun or getting drenched in pouring rain, just to procure some cooking fuel or petrol and medicine or victuals, and with news of occasional price reduction on selected consumer items retailed through Sathosa, there is no doubt that the popularity of the man at the helm, Prez Wickremesinghe is on the rise for the time being and among ordinary folks. That much must be admitted even by his worst critics. more..

Dec 7 (Island) The govt has gained the upper hand over its political rivals by ruthlessly invoking some draconian laws such as the Offences against Public Property Act and the Prevention of Terrorism Act. It is ready to do everything in its power to consolidate its hold on power. A few months ago, the ruling party politicians were running as fast as their legs could carry them to escape from the Aragalaya activists, but today the boot is on the other foot. The govt has succeeded in turning more..

Dec 7 (GV) Edwin Ariyadasa, born on Dec 3, 1922, would have turned 100 this past weekend. While he was a giant and a pioneer in journalism in SL, this reflection is not about his achievements. It is about the ethos of compassion that drove him to be who he is, that guided his commitment to communication and to help others even when it was disadvantageous for him. First, as a disclosure, I am writing this both as a Sri Lankan and as his grand-nephew since Edwin Ariyadasa is my grand more..

Dec 7 (FT) Lanka Change Makers, an activist group has proposed a program titled Cyber Discipline to combat all forms of cyber harassment, cyberbullying and online stalking in SL. According to the organisation the program has been created by the organisation to address socially sensitive issues relating to the topic. The organisation said it is attempting to introduce cyber discipline to the national education curriculum in order to educate children about cyberspace & relevant topics more..

Dec 7 (TM) Sri Lanka’s digital communications umbilical to the world remains vulnerable as the Govt continues to drag its feet on enacting legislation on the protection of undersea data cables. Today, Sri Lanka’s connectivity, trade, and digital economy as an island nation are largely dependent on seven undersea fibre-optic data cables which remain under-protected by local legislation. more..

Dec 7 (ST) Stop-start, stop-start policies: That is the best description of the country’s policies on migration for work, particularly to West Asia. But before I could settle into this week’s topic on the above issue or calling Kalabala Silva, the often agitated academic, for his thoughts on this matter, I was drawn to the conversation under the margosa tree. “Ahunada ara aluth sinduwa – ‘Gaalu Paare’. Eka kiyanne naeseegiya Sunil saha eyage sahodaraya Piyal. Harima lassanai. more..

Dec 7 (Island) Defending champions Jaffna Kings got off to a superb start as they defended 137 runs to win the curtain-raiser of the third edition of Lanka Premier League tournament against Galle Gladiators at Suriywawewa yesterday. Jaffna Kings managed only 137 runs batting first but their bowling was too good as they bowled out Galle Gladiators for 113. Seamer Binura Fernando who returned home from Australia halfway through the ICC Men’s T-20 World Cup with a hamstring injury more..

Dec 7 (Island) An unbeaten 102 off 67 balls (4×11 and 6×3) by Andre Fletcher, 71 off 41 balls (4×8 and 6×2) by Pathum Nissanka and a four wicket haul including a hat-trick by Wanidu Hasaranga saw Kandy Falcons crush Colombo Stars by 109 runs in the 2nd game of LPL 2022 played in Hambanthota on Tuesday (06). Kandy Falcons 199/1 in 20 overs (Pathum Nissanka 71, Andre Fletcher 102 not out, Carlos Braithwaite 20 not out; Seekuge Prasanna 1/23). Colombo Stars 90 in 14.3 overs more..

Dec 7 (CI) Mahela Jayawardene is set to leave Southern Brave in 2023 after his promotion to an overarching role as global head of performance at Mumbai Indians and their associated franchises. Reliance, company which owns Mumbai's teams, have acquired new franchises in the inaugural seasons of the ILT20 (MI Emirates) and SA20 (MI Cape Town). Jayawardene, who has won three IPL titles with Mumbai since his appointment as coach in 2017, moved roles in September. more..

Dec 7 (TM) SJB MP Rohini Kumari Wijeratne Kavirathna brought the concerns of the parents of 11 youths who were forcibly disappeared to the notice of Parliament on Monday. Addressing Minister Wijeyadasa Rajapakshe, she said: “You are well aware that a case has been filed against certain parties in the alleged abduction of 11 youths during the period of 2008 and 2009. A total of 667 charges, 126 witnesses, and 64 documents were filed more..

Dec 7 (Island) CEA has requested devotees visiting Sri Pada (Adams Peak) to avoid disposing of garbage, especially polythene and plastic, in the vicinity. CEA Chairman, Supun Pathirage, said that the Sri Pada Vandana (Pilgrimage) season will start on Unduwap Full Moon Poya Day, today and will end on Vesak Full Moon Poya in 2023. “The main rivers of Sri Lanka originate from the Sri Pada Site Sanctuary. It is our duty and responsibility to protect this sensitive environment. more..

Dec 7 (Island) Justice Rohini Marasinghe, in her capacity as Chairperson of the Human Rights Commission, has told the fourth Universal Periodic Review (UPR) of SL in Geneva recently how short-sighted policies of the previous govt plunged the country into unprecedented political-economic-social turmoil and the circumstances leading to the then Prez Gotabaya Rajapaksa’s ouster. Justice Marasinghe has dealt with social and economic rights and establishment of a national more..

Dec 7 (TM) In response to the claim by SJB MP Mujibur Rahman stating that Speaker of Parliament Mahinda Yapa Abeywardana possesses the power to remove an MP from Parliament, Minister Wijeyadasa Rajapakshe clarified that the Speaker does not hold any such power as per the Constitution. “Speaker has no power to remove an MP from Parliament according to the Constitution. “Speaker has no power to remove an MP more..

Dec 7 (FT) Govt has instructed the Legal Draftsman to prepare a Bill to establish the proposed Parliamentary Budget Office. The proposal to this effect submitted by Prez Ranil Wickremesinghe in his capacity as the Finance, Economic Stabilisation and National Policies Minister was approved by the Cabinet of Ministers at its meeting on Monday. “The bad fiscal management of successive govts is the reason for the economic crisis today,” Minister Bandula Gunawardena said more..

Dec 7 (FT) With Sri Lanka envisaging to become a developed nation by 2048 and India looking to become a global economic powerhouse by 2047, the visions of both countries are complementary and could be directed towards their mutual benefit. Addressing the Inaugural Sessions of the Sri Lanka Economic Summit 2022, National Institution for Transforming India (NITI) CEO Parameswaran Iyer said Sri Lanka should take a fresh look at three main dimensions in its economic recovery. more..