Dec 13 (FT) Govt’s much trumpeted digital push is likely to be sans home-grown Sri Lankan firms as they won’t be VAT exempted whilst foreign companies in the same field are let off due to the failure of the law. The apparent discriminatory regime for local e-commerce and digital services companies figured at a meeting of the Parliamentary oversight Committee COPF chaired by MP Harsha de Silva recently. more..

Dec 13 (FT) UNDP 2024 Asia-Pacific Human Development Report was launched yesterday, highlighting that despite being the region’s top performer, Sri Lanka’s Human Development Index (HDI) could decline and result in a potentially more turbulent future without immediate actions for change. UNDP launched the report titled, Making our Future: New directions for Human Development in Asia and the Pacific under the umbrella of the flagship Colombo Development Dialogues. more..

Dec 13 (ST) Sri Lanka joined 97 other nations in calling the UN Security Council on Friday to declare an immediate ceasefire in the Palestinian territory of Gaza, but the US vetoed the move despite an overwhelming 13 of the 15 Security Council members voting ‘For’ the resolution and the United Kingdom abstaining. The Security Council move saw France, one of its permanent members, voting “for’ an immediate ceasefire, along with two other permanent members, Russia and China. more..

Dec 13 (ST) Several stockbrokers have written to the President seeking a 10 per cent stake for all stakeholders of the Colombo Stock Exchange (CSE) in the event it is demutualised (the process through which a member-owned company becomes shareholder-owned). Owing to dissent between the Securities and Exchange Commission (SEC) and brokers over the percentage that the latter should own after demutualisation, the process has been stalled for over half a decade. more..

Dec 13 (Island) Inland Revenue Department (IRD) has consulted Attorney General Sanjay Rajaratnam, PC, as regards instructions received from the Committee on Ways and Means chaired by MP Patali Champika Ranawaka to furnish a list of those who had defaulted on their taxes amounting to over Rs 100 mn. However, according to MP Ranawaka’s committee the IRD hadn’t provided a list though the request was made on July 24, 2023 and the issue was raised on two subsequent occasions. more..

Dec 13 (FT) Prez Ranil Wickremesinghe yesterday endeavoured to appease the local IT and digital service companies saying export of services earning foreign exchange will be exempted from tax though the local supply will be subject to 18% VAT from 1 Jan. Local digital services companies are irked by the fact that whilst they are subjected to higher VAT, foreign firms offering the same services won’t be taxed. more..

Dec 13 (FT) In a promising start to December, SL crossed the 1.3 milestone welcoming a total of 57,394 tourists in the first 10 days. This is the highest tourist arrivals recorded post-pandemic. With a target of 1.55 million tourists by the end of the year, SL Tourism anticipates a robust month, aiming for a total of 242,135 arrivals. Authorities express confidence in reaching the set target, hoping to attract an additional 184,741 tourists before the year concludes. more..

Dec 13 (FT) Ahnaf Jazeem, a poet and teacher from Silavathurai, Mannar who was arrested and detained by the Terrorism Investigations Division (TID) in May 2020 under the controversial Prevention of Terrorism Act (PTA) was acquitted by the Puttalam High Court yesterday due to a lack of evidence. The TID had accused 27-year-old Jazeem of including extremist messaging in his book of Tamil poetry Navarasam a claim refuted by Tamil scholars and academics alike. Additionally, he was also accused of more..

Dec 13 (TM) Power and Energy Ministry is yet to identify the reason behind the islandwide power breakdown that took place last week which was allegedly caused by lightning strikes on the Kotmale to Biyagama transmission line. Secretary to the Ministry Mapa Pathirana said that still the investigations are in its preliminary stages and that therefore, it is yet to reach any findings regarding the main cause more..

Dec 13 (Island) Prez Ranil Wickremesinghe has invited former greats Aravinda de Silva and Sidath Wettimuny to spearhead a committee that will take the game of cricket to far off villages. This trust to be established soon will include a member from the Chamber of Commerce as well and will be independent from SLC. A sum of Rs. 1.5 billion had been already allocated from the budget for cricket development in rural areas and this sum is expected to be raised to Rs. 2 billion next year. more..

Dec 13 (DN) SL under 19 team led by Sineth Jayawardena will meet Bangladesh today in Dubai which is going to be the decider for the SL team to find a place in the semi finals. SL beat Japan without any trouble in their opening game but a shock defeat by UAE on Monday Sineth Jayawardena and the team now is under pressure to play against Bangladesh . Bangladesh already won both games on top of the points table and they are looking to remain unbeaten to come on top to enter more..

Dec 13 (DN) Reserves are expected to improve towards the end of the year, aided from scheduled inflows from IMF, WB and ADB totalling to +USD 1 billion post signing of the IMF first review. First Capital Research says that Official foreign reserves remained at similar levels earlier in the year largely due to incremental pressure from imports with the relaxation of the import ban from June 23. Furthermore, continued absorption of USD from the domestic foreign exchange market more..

Dec 13 (DN) Urban Development Authority has reactivated the Solid Waste Management Project at Aruwakkalu disposal site for the Capital City of Colombo. Total investment for this would be USD 130 million. Minister Prasanna Ranatunge said that this time the project would be implemented next year under private partnership project and the cabinet has also approved his project proposal forwarded in this regard. The construction work of the project is scheduled to be completed on Mar 31 next yr. more..

Dec 13 (EN) SL’s bailout program is at risk of being under-financed and social unrest could re-emerge from and reforms could be derailed by 2024 elections, and IMF report has warned. “Risks to program implementation and financing are high and have increased since program approval,” an IMF staff report issued after completing the first review of its program said. “Implementation risks arise from SL’s track record of reform more..

Dec 13 (FT) Missing journalist and cartoonist Prageeth Ekneligoda was honoured with the 2023 Engel-Du Tertre Award by the ACAT Foundation for Human Dignity recently. The award was personally accepted by his wife, human rights activist Sandya Ekneligoda at an event held at the Cité Internationale Universitaire in Paris on 7 Dec. ACAT Foundation, a Christian Human Rights NGO said the organisation symbolically awarded her the prize on behalf of her husband and invited her for more..

Dec 13 (DM) The number of women who have been victims of various atrocities and violence this year is more than twenty thousand in Sri Lanka, an official of the Family Health Bureau of the Ministry of Health said. Dr. Netanjali Mapitigama of Family Health Bureau of the Ministry of Health addressing a workshop to discuss the contents of the multi-sectoral National Action Plan to address Sexual and Gender-Based Violence against Women (SGBV), said that a significant number of women in SL more..

Dec 13 (TM) A 3-member committee headed by retired SC Judge, Justice Anil Gooneratne has been appointed to look into the execution of Edward Henry Pedris in 1915 based on a decision given by a court martial during the British colonial rule, and related matters. Pedris, then 27-years-old, was brought before a court martial on charges of rioting and treason against the Govt by the colonial administration, convicted of treason, and executed on 7 July 1915, without any appeal hearing. more..

Dec 13 (ST) The much looked-forward-to Prima Sunrise Junior Open Golf Championship is set to tee off from Dec 20 to 22 at the Royal Colombo Golf Club course, which this time will see the participation of over 10 overseas golfers adding colour and stiff opposition to the local juniors in the Open Gold Division category. Prima Group SL under the brand Sunrise have come forward to sponsor the championship for the 15th successive year that began way back in 2008, more..

Dec 13 (FT) President Ranil Wickremesinghe and NPP leader Anura Kumara Dissanayake clashed in Parliament yesterday after Dissanayake questioned the cabinet’s move to approve purchasing one unit of electricity from the proposed Poonekeryn solar energy project at Rs. 50 per unit. The NPP leader questioned on what basis the price was agreed on and accused the Govt of granting projects to investors without more..

Dec 13 (DM) The Kaduwela Magistrate's Court today imposed travel bans on five former Sampath bank officers attached to the Thalahena branch for allegedly cheating a bank customer of Rs.77.98 million. The court issued this order pursuant to a complaint by award-winning traditional medical practitioner Kelum Weerasinghe, alleging that a sum of Rs.77.98 million had been fraudulently cheated without his (bank account holder's) permission. CID had earlier submitted a forensic audit more..

Dec 13 (FT) In a strategic move aimed at meeting the Nationally Determined Contribution targets by 2030, the Cabinet approved the formation of a combined standing committee to expedite renewable energy projects. The committee, chaired by the Presidential Secretariat, will play a pivotal role in expediting the implementation of renewable energy projects countrywide. The move comes following the decision made on 20 Sept, reflecting a recognition of the urgency to accelerate the adoption of more..

Dec 13 (DM) The IMF Board on Tuesday completed the first review under the 48-month Extended Fund Facility with Sri Lanka, providing the country with access to SDR 254 million (about US$337 million) to support its economic policies and reforms, the IMF said. The completion of the first review allows for an immediate disbursement of SDR 254 million (about US$337 million), bringing the total IMF financial support disbursed so far more..

Dec 13 (FT) The much awaited draft electricity act designed to permit the restructuring of the electricity sector has received the approval of the Cabinet. To what extent the rest of the members of the Cabinet studied the content and the impact of the proposals made by the Minister of Power and Energy will be a question in the minds of many, who have even a nodding acquaintance of the intricacies of the electricity sector, which has very much been in the news. more..

Dec 13 (FT) An important argument takes place between Nicholases (Bram and Howard) and a presidential team of advisors, namely, Indrajit Coomaraswamy, Sharminy Cooray and Shanta Devarajan in the pages of the Daily FT. Nicholases’ original proposition was that the new CBA should be amended by a future government to allow the Central Bank to focus on macroeconomic stability and to purchase treasury bonds directly from the Treasury Dept when it is necessary but the Presidential team of experts more..

Dec 13 (PMD) In a significant stride toward advancing the fisheries and aquatic resources sector, Fisheries Minister Douglas Devananda announced the enactment of a revised Fisheries Act. The draft of this transformative legislation has been forwarded to solicit opinions and insights from field experts, marking a collaborative effort to optimize the industry’s potential. Minister highlighted key initiatives aimed at bolstering the fishing community. Notably, the encouragement of using battery motors more..

Dec 13 (DM) While refusing to participate in a public debate with JVP member Wasantha Samarasinghe as proposed by NPP leader Anura Kumara Dissanayake, Minister Kanchana Wijesekara made a fresh call to Dissanayake to present himself for the debate. The Minister told Parliament that if MP Dissanayake was sending Wasantha Samarasinghe as his representative, he would also send someone to represent him. "Anura Kumara said his party accepted my challenge for a public debate. more..

Dec 13 (TM) Police have arrested 126 out of around 139 inmates who had escaped from the Kandakadu Treatment and Rehabilitation Centre on Monday (11) evening. So far, Police has arrested 126 out of around 139 inmates who had escaped from the Centre on Monday evening. Out of the arrested inmates, 44 individuals have been detained at the Pulasthipura Police Station, 23 at the Polonnaruwa Police Station, 34 at the Hingurakgoda Police Station, and 25 others more..

Dec 13 (AD) Leader of the SJB Sajith Premadasa has declared that SL’s existing agreement with the IMF would be renegotiated under an SJB govt. Speaking in Parliament this morning, the Opposition Leader claimed that the current agreement between SL and the IMF will be renegotiated under an SJB-run govt in a manner that would not inconvenience the people of the country. Speaking with regards to the recent approval given by the IMF for the second tranche of funds for SL under the EFF, more..

Dec 13 (EN) An Index of Consumer Sentiment (ICS) run by the Institute for Health Policy (IHP), an independent research institute in SL, decreased 5 points to 17 points in Nov 2023. The IHP said that the declines continue the trend of declining confidence since August. Consumer sentiment remains deeply pessimistic about current conditions and future prospects, it added. According to the institute, its ICS is the broadest measure of the public’s view of their personal economic status more..

Dec 13 (DM) Court of Appeal in its majority decision today affirmed the convictions and the sentences imposed on three accused in connection with South Asia’s largest VAT scam. Colombo High Court had convicted and sentenced these three accused for committing criminal misappropriation of nearly Rs. 3.9 billion of Treasury money. With Justice R. Gurusinghe agreeing, Justice Sampath Abeykoon in his judgment held that there is no reason to interfere with the conviction more..

Dec 13 (AD) The saffron-robed monk, who was arrested for behaving in a manner that was deemed offensive to Buddhism, has been remanded until Dec.19. The 34-year-old who goes by the name Vishwa Buddha was arrested on Tuesday at a private establishment in Kalagedihena. The arrest was made by the cybercrimes unit of the CID, acting on a complaint received against the self-styled monk who was residing in Ratnapura. Following his arrest, he was produced before the Colombo Magistrate’s Court today. more..

Dec 13 (EN) Sri Lanka is considering the introduction of legal provisions to retain suspects and accused persons under house arrest instead of remanding them, cabinet spokesman minister Bandula Gunawardena said. “The congestion in the prisons has been a long-standing issue in SL,” Gunawardena said at a press briefing to announce cabinet decisions. “Prisoner upkeep costs the govt a great deal, paid for by the taxes we collect from the public.” more..

Dec 13 (DM) The newly appointed Selection Committee of Sri Lanka Cricket (SLC) will commence its official duties by selecting the national squad for the 2024 Zimbabwe tour of SL. Minister Harin Fernando, has appointed a 'Cricket Selection Committee' for a 2-year term to oversee the selection of national teams. The newly appointed committee, effective immediately, comprises Upul Tharanga as Chairman, Ajantha Mendis, Indika De Saram, Tharanga Paranavitana and Dilruwan Perera as members. more..

Dec 13 (EN) SL’s Central, Northern and Eastern provinces have been ear-marked for the implementation of a community-based tourism development project, in collaboration with the Korea Tourism Organization, with a 2.172 billion won grant. SL Tourism Development Authority (SLTDA) will enter into a MoU with the Korea Tourism Organization, after cabinet approval was granted this week. Representatives of the Korean Tourism Organization have visited the respective provinces, more..

Dec 13 (AD) The 2024 Appropriation Bill (Budget) was passed in Parliament with a majority of 41 votes a short while ago. Accordingly, the 2024 Budget was passed in Parliament with 122 votes in favour of the Bill, while 81 MPS had voted against it and MP C. V. Vigneswaran abstained from voting. Incidentally, SLPP MP Roshan Ranasinghe was amongst those who voted against the Bill. The vote for the Third Reading of the 2024 Appropriation Bill was held at 6:40 p.m. today. more..