Feb 10 (EN) Teejay Lanka, a fabric firm which also has plants in India, said it had lost 365 million rupees in the Dec 2022 amid a drop in demand and higher costs. The group reported losses of 51% share for the quarter, according to interim accounts filed with the CSE. For the nine months to December, Teejay Lanka reported earnings of 2.75 rupees per share on total profits of 1.9 billion rupees, up from 1.6 billion. Gross profit fell to 900 million rupees in the December quarter from 1.3 b more..

Feb 10 (TM) Responding to UK, US, Canada, and Norway urging Sri Lanka to decriminalise same-sex relationships by repealing Sections 365 and 365A of the Penal Code, Minister of Foreign Affairs, Ali Sabry stated that while the Govt would decriminalise the same, same-sex marriages would not be legalised. Ali Sabry said: “There is a Private Member Bill initiated by SLPP Govt MP Premnath C. Dolawatte. more..

Feb 10 (EN) SriLankan Airlines has announced a default on a December coupon payment on its US$ 175 million sovereign guaranteed bond with the expiry of a grace period. SriLankan Airlines said in a Singapore Exchange filing that it was giving notice of an event of default, after failing to pay the Dec 2022 interest, of which notice was given earlier. “We are engaging with the bondholders to find a solution,” Chairman Ashok Pathirage said. SriLankan is guided by the advisors to govt on re-structuring more..

Feb 10 (CT) South Africa and Sri Lanka are set to face each other in the first match of the Women’s T20 World Cup 2023 today at Newlands in Cape Town. South Africa, led by Sune Luus, will be brimming with confidence after winning their recent T20I tri-series involving India and the West Indies. They defeated Harmanpreet Kaur’s India by five wickets in the final, riding on Chloe Tryon’s 32-ball 57, with the help of six fours and two sixes. All-rounder Dane van Niekerk isn’t a part of more..

Feb 10 (Island) Environmental scientists and social activists are expressing concern about the engagement of Adani Green Energy in developing wind power in SL. In answer to a question raised by The Island at a recent symposium, Discussion on Setting the Policy Direction for South Asia in Energy Sustainability Environmental Scientist Hemantha Withanage said that the Mannar wind power project also known as Thambapawani wind project was the most-cost effective energy power plant in SL more..

Feb 10 (Island) The govt had given some tax concessions to the MPs and a handful of senior officials in a bid to divide professionals and mislead the people, trade Unionists said. Issuing a circular the govt amended tax imposed on non-cash benefits such as residences, transport facilities and communication facilities provided by employers. General Secretary of CBEU, Ranjan Senanayake said that professionals had been demanding the govt to reduce the tax imposed on salaries. more..

Feb 10 (TM) Election Commission (EC) is yet to receive a response from the Ministry of Finance with regard to their request for Rs. 770 million as LG election expenditure for the month of February, its Chairman Attorney Nimal G. Punchihewa stated. He further said: “We have sent the letter to the Finance Ministry but there was no response from them.” He further said that the EC would submit all relevant documents more..

Feb 10 (MoD) Chairman Joint Chiefs of Staff Committee of Pakistan General Sahir Shamshad Mirza, NI (M) pledged his fullest support to the SL armed forces on 9 Feb. General Mirza also discussed the importance of further enhancing of defence related ties through military diplomacy during a meeting held with the SL Chief of Defence Staff General Shavendra Silva at the Office of the Chief of Defence Staff (OCDS) in Colombo. Visiting Pakistani General was accorded a colourful more..

Feb 10 (DM) The power generation at the Kelanitissa power plant has come to a halt since Wednesday evening, with the Ceylon Petroleum Corporation (CPC) suspending fuel supply required for power generation. “The CPC has for some unknown reason suspended fuel supply to the Kelanitissa plant, although we are informed that CPC has sufficient stocks of Naphthalene required for three days,” President of the CEB Engineers Union Nihal Weeraratne said. more..

Feb 10 (TM) President's Counsel (PC) Anuja Premaratne, who is appearing for members of deceased Janashakthi PLC Director Dinesh Schaffter’s family, in the latter's death inquest, yesterday informed Colombo Additional Magistrate Rajindra Jayasuriya that the post-mortem report of Schaffter submitted by Colombo JMO Ruhul Haq contains contradictory findings. As the investigation officers informed the Court that investigations into more..

Feb 10 (EN) Nations Trust Bank launched its digital banking platform to enhance the customer experience with an aim to provide user-friendly digital banking tools across a wide range of products and services. The entire suite of the bank’s digital banking solutions is accessible on one fully-fledged digital banking platform, providing user-friendly digital banking tools across a wide range of products and services to create a seamless customer experience. more..

Feb 10 (FT) Prez Ranil Wickremesinghe’s Independence Day address to the nation, in spite of widespread opposition for spending millions of rupees on a celebration while millions of households are finding it onerous to feed themselves, is significant more for what it left unsaid than said. It looks to be a hastily prepared appeal to the people to allow his regime to complete its term of office without disruptions from anarchist political forces. One doesn’t need to be a rocket scientist more..

Feb 10 (AD) At least 28 people have sustained injuries after a passenger bus veered off the road and fell down a precipice this afternoon (Feb. 10). The accident took place as the driver of an SLTB bus, which had been travelling on the Ratnapura-Siripagama road, lost control of the vehicle in Induruwa area. The injured passengers were rushed to the Gilimale Hospital for treatment. Four of them, who were reportedly in critical condition, have been transferred to Ratnapura Hospital. more..

Feb 10 (EN) Sri Lanka experienced a 3.0 richter magnitude minor earth tremor in Southeastern towns but the National Building Research Organisation (NBRO) said its has not posted any danger. The tremor was experienced at around 12.11 PM on Friday, as per the Geological Survey & Mines Bureau (GSMB) and the NBRO asked people to come down. “It is only a tremor, not an earthquake,” the NBRO said in statement. There has been no damage reported from the tremors, more..

Feb 10 (DM) Japanese giant Mitsubishi Corporation has decided to wind up operations in Sri Lanka next month after being an integral part of bilateral ties and some of the country’s key infrastructure projects for nearly 60 years. The closure of Colombo Office by Mitsubishi by 31 March has come as a big shock to the private sector, both local and foreign which described the move as a big setback for Sri Lanka. more..

Feb 10 (FT) The unprecedented economic crisis SL finds itself in was triggered by some irrational tax cuts. The path out of the crisis will necessarily involve tax increases. The most critical indicator of whether Sri Lanka is likely to be able to pay its debts is the primary balance, for which we have agreed on targets with the IMF. We now have a negative balance (as we have had for most of 75 years since independence). We have to meet the intermediate targets that would make it +2.3% of GDP more..

Feb 10 (AD) Supreme Court today rejected the contempt case filed by the Human Rights Commission of SL (HRCSL) against various parties, pertaining to uninterrupted supply of electricity during the 2022 GEC A/L exam. The HRCSL filed a contempt case before the Supreme Court against the Secretary to Ministry of Energy & Power, the Chairman of CEB and Chairman of CPC on 30 Jan, claiming that the aforementioned parties had failed to abide by the settlement arrived at more..

Feb 10 (EN) Supreme Court cleared a hurdle for the island nation’s National Election Commission to go ahead with the upcoming LG polls. However, uncertainty over conducting elections still remained as many govt politicians have been against holding the LG polls scheduled for March 9. Opposition political parties have sought a SC order through two petitions to the Election Commission to hold the polls as scheduled. more..

Feb 10 (FT) NPP Leader Anura Kumara Dissanayake has called on all communities in the country to unite to rebuild the country. Dissanayake speaking at a rally in Kinniya in the East of Sri Lanka yesterday noted that all leaders elected through the vote of the people only contributed to the destruction of the country. “They obtained loans, gave contracts to friends and robbed us blind. Today we have become a country that cannot service our debts,” he told those gathered. more..

Feb 10 (EN) SriLankan Airlines had grounded three aircraft without funds for engine repairs, Minister Nimal Siripala de Silva said. “Three aircraft are on the ground,” he told parliament. “For several months we have not had the money to fix the engines.” “But even if the engine is broken and we have to keep the aircraft on the ground we have to pay the lease rental.” The nature of lease contracts were such that payments had to be made regardless of whether the planes were flying or not, more..

Feb 10 (AD) An 11-year-old from Kattankudy, who was critically injured in an assault by his stepfather, has died while receiving treatment at the hospital. On Feb 8, the father of the boy filed a complaint with the police, alleging that the 11-year-old was admitted to the ICU of the Batticaloa Hospital after being assaulted by the stepfather. Swinging into action, police arrested the stepfather, a 26-year-old from Matale area, later that day. The suspect was placed under remand custody until Feb 14 more..

Feb 10 (DM) Newly sworn in SJB MP A.H.M. Fowzie, who participated in the debate on the policy statement of Prez Wickremesinghe despite his party’s decision to boycott the debate, said he will exercise his responsibility towards the nation. “I will sincerely fulfil the responsibility towards the nation rather than thinking of politics,” he said. “I am glad that I have been given the opportunity to serve the nation and I thank those who voted for me. I obtained around 30,000 preferential votes more..

Feb 10 (DM) The govt is planning to send a military contingent consisting of doctors and engineers trained in UN humanitarian operations for humanitarian operations in Turkey which has been affected by the recent earthquake, PM's office said. A special discussion on the provision of humanitarian aid for the affected Turkish people was held yesterday at the Temple Trees under the chairmanship of PM Dinesh Gunawardena more..

Feb 10 (DM) Heart to Heart Int'l has obtained all necessary govt approvals for the fourth in-kind donation of urgent medical aid, worth an approximate of Rs. 2.6 bil (US$ 6.9 mil), to the people of SL. The donation is scheduled to arrive in SL via air by early next week in collaboration with Ministry of Health and SL Embassy in US, The donation includes specialized medicines such as Everolinus, an immunosuppressant used for organ transplants and Sunitinib Malate, more..

Feb 10 (AD) Election Commission (EC) has summoned local govt commissioners and assistant commissioners for a meeting on Feb 11. During the meeting, officials will be briefed on the upcoming LG election process, scheduled to be held on March 9, according to EC’s chairman Nimal G. Punchihewa. Meanwhile, EC says that it is yet to receive a response from the Secretary to Finance Ministry pertaining to the request made regarding the expenses required for LG poll preparations more..

Feb 10 (TM) The Police stated that an investigation is yet to be initiated into the complaint lodged by IUSF Convenor Wasantha Mudalige with IGP Chandana Wickramaratne, requesting action against police officers involved in various harassments including death threats which Mudalige claimed he faced while in custody, as it has only been two days as of yesterday (9) since the relevant complaint was lodged. more..

Feb 10 (AD) Former IMF Resident Country Representative for SL, Dr. Nadeem Ul Haque says that the SL govt needs to take steps to ensure efficiency when it plots the way forward for the country and cut down on the number of subsidies given to the public as well. Joining the panel discussion, Economist Dr. Tissa Jayaweera added that even though economic experts like to call for debt forgiveness it is not something that will be done by countries giving out money generated more..

Feb 10 (TM) Transport and delivery services app, PickMe, whilst claiming that a small segment of transport service providers engage in operating in a mafia-style by making threats and intimidating drivers of their network, called on the authorities including the Police to urgently and properly intervene to protect and safeguard the rights of both passengers and drivers as such widely publicised incidents would only serve to tarnish the struggling tourism industry & damage SL’s reputation. more..

Feb 10 (CT) Alleging that branded kottu restaurants are robbing and exploiting the customers, by putting unreasonable prices on the product, All Island Canteen Owners’ Association (AICOA) requested Govt to impose a Maximum Retail Price (MRP) on both kottu and wheat flour. AICOA Chairman Asela Sampath said some of these branded kottu restaurants sell kottu at more than Rs 900-1,000. He noted that the price of a kilo of wheat flour has increased in local market to a max of Rs 240. more..

Feb 10 (ANI) Prez Ranil Wickremesinghe will on Saturday participate in an event marking the dedication of the Jaffna Cultural Centre to the people of SL. Built with an Indian govt grant, the centre will stand as a symbol of the growing bilateral and developmental ties between New Delhi and Colombo. Along with the PrezWickremesinghe, Union Minister of State for Fisheries, Animal Husbandry & Dairying Dr. L Murugan, SL Ministers Douglas Devananda, Vidura more..

Feb 10 (DM) Sri Lanka appears to be still having roughly US$ 3.2 billion worth foreign currency obligations to be settled this year even after announcing a debt standstill on selective debt last year until creditors agree to restructure them. The data made available by the Central Bank showed the country is still required to repay external obligations stemming from foreign currency loans, securities and deposits up to US$ 3,185 million in 2023 consisting of more..

Feb 10 (DM) Local car dealers have announced the recalling of certain vehicles with faulty airbags following the death of a leading SL scientist last week. A scientist from the SLINTEC was killed in a road accident at Kumbuka in Gonapola, Horana on Feb.3. Police said the 37-year old scientist, who was returning home in a luxury car, died after his car hit a concrete post of a road barrier. His car had toppled and he was killed when a metal shard of the airbag that had been activated upon impact more..

Feb 10 (CT) Minister of Power and Energy Kanchana Wijesekara, who is at loggerheads with Public Utilities Commission of SL (PUCSL), yesterday (9), alleged that the latter has granted a special electricity tariff concession to apartment complexes, than normal domestic consumers. The Minister said that electricity could be provided to normal domestic consumers at concessionary rates if this special relief granted to Housing Apartments was withdrawn. more..

Feb 10 (TM) TNA yesterday stated in Parliament that they reject Prez’s throne speech cum Statement of Govt Policy, delivered on Wednesday, stating that maximum devolution of power cannot take place within a unitary model. Speaking in Parliament yesterday, TNA MP M.A. Sumanthiran noted: “He ends by saying that he will not allow for a separation of the country. We are not asking for a separation of the country. more..

Feb 10 (TM) While the Election Commission (EC) recently stated that the estimation of over Rs. 2 billion made by the Police for LG election policing-related expenditure cannot be accepted due to the exorbitant amount, Police yesterday claimed that severe inflation is the reason for such a high estimation. Police Media Spokesman, Nihal Thalduwa said that while the inflation rate is around 55%, the expenses had increased by three-fold or five-fold, which had also affected the Police. more..

Feb 10 (BN) The IMF said its approval for a $2.9 billion loan to bail out crisis-riddled SL will depend on the island nation securing assurances on debt relief from its bilateral creditors. “SL continues to engage with official bilateral creditors to obtain financing assurances and also continues to advance domestic reforms,” an IMF spokesperson said in a statement on the progress of its Extended Fund Facility to the South Asian nation. “Sri Lanka continues to engage with official bilateral creditors to obtain more..