Aug 7 (FT) Former CIMA Sri Lanka Board Member Chandrin Fernando received the prestigious Chairmanship appointment for CIMA’s Middle East, South Asia and North Africa (MESANA) Regional Board recently. Fernando will oversee the MESANA Regional Board, comprising 28 countries. Previously, he held the post of MESANA Vice Chairman. Fernando’s service history within CIMA is an illustrious one, including serving on the SL Board as a Board Member during 2014-2016. more..

Aug 7 (ST) At times I wonder whether I am yet again immersed reading the Mr. Jekyll and Mr. Hyde episode all over again or, following Faiszer Musthapha melodrama of The way the cookie crumbles in Sri Lanka cricket. By a slight quirk of fate, quite unexpectedly, Sri Lanka Cricket AGM was postponed in May this year, and, since then, it has been more of a melodrama of how things should not be handled, rather than a smooth sail. more..

Aug 7 (DM) Recommendations made by the committee appointed by the UNP to recommend party reforms are yet to be implemented fully, MP S.M. Marikkar said. “I was also a member of that committee and we came up with several recommendations, which are still to be fully implemented,” he said. The MP faulted some of those appointed as directors in the state institutions saying this govt was brought to power by the grassroots level UNP supporters who worked more..

Aug 7 (EN) Sri Lankan unit of Indian Oil Corporation (IOC) returned to profit in the June 2018 quarter with net earnings of 246 million rupees compared with a loss of 135 million rupees a year ago. Sales of Lanka IOC fell 6.7% to 19.1 billion rupees in the quarter, according to the accounts filed with the stock exchange. Earnings per share for the quarter were 46 cent compared with a loss of 25 cents the year before. The stock closed at 32.10 rupees Monday, down 40 cents (1.23%). more..

Aug 7 (DN) Govt is working on formulating a strategy for digitizing the economy which will usher a new era in the digital landscape of the country. Digital Strategy will be present for Cabinet approval in the end of Aug, said Secretary to the Ministry of Telecom and Digital Infrastructure Wasantha Deshapriya. Study was carried out by Makinsey & Company and upon receiving approval it will be put in for more..

Aug 7 (Island) The Bank closed the 6 months period ending 30th June 2018 with a post-tax profit of Rs.1,875Mn and a pre-tax profit of Rs.3,882Mn underpinned by good growth in business volumes and improved operating margins. Despite increased impairment charges slowing the bottom line growth, Bank recorded a resilient performance in the back drop of industry witnessing tightening of market liquidity, moderating credit growth and increased non-performing loans during 1st half of the yr. more..

Aug 7 (Island) Applications for Chevening Scholarships and Fellowship to study in the UK during the 2019/2020 academic year opened on 6 Aug. Chevening Scholarships are awarded to individuals with demonstrable leadership potential who also have strong academic backgrounds. The scholarship offers full financial support for future leaders to study at a UK uni whilst also gaining access to a wide range of exclusive academic, professional & cultural experiences. more..

Aug 7 (ST) Sri Lanka’s top bureaucrats have blasted the govt’s imposition of Pay-as-You-Earn Tax (PAYE) on their all inclusive salary including allowances granted to them for expenses as part of performing their job. According to the new Inland Revenue Act (IRA), employees will have to pay a higher level of taxes on employment income with the maximum rate increasing to 24% from 16% with effect from April 1. Taxing of allowances specially granted to more..

Aug 7 (FT) Central Expressway project from Mirigama to Kurunegala is currently making tremendous progress, Minister Kabir Hashim announced during an inspection tour of it. Minister also said that the construction of the expressway is being carried out with due consideration to the convenience of the towns, without adversely affecting the environment and while minimising the detrimental impact, if any, on the routine social affairs and activities of the people. more..

Aug 7 (DN) A tripartite MoU was signed at the Ministry of Science, Technology, Research, Skills Development, and Vocational Training to enable 4500 young masons in Sri Lanka to be awarded an internationally acceptable vocational accreditation. The three parties to the MoU are the National Apprentice and Industrial Training Authority (NAITA), National Enterprise Development Authority (NEDA) and INSEC cement. The young masons who would have already received a basic traditional more..

Aug 7 (Island) Chairman of SLPP Prof. G.L. Peiris rejected proposed draft constitution aimed at abolishing the executive presidential system. In accordance with the proposed constitution, 2019 presidential election was to be done away with to pave the way for the parliament to elect the next President, Prof. Peiris said. He alleged that an attempt was being made to disqualify the Rajapaksas from seeking Office of more..

Aug 7 (FT) Abans Group of Companies Chairperson and Founder Aban Pestonjee was adjudged Woman Entrepreneur of the Year at the Women’s Chamber of Industry and Commerce (WCIC) Unstoppable – The Future Belongs to Her Woman Entrepreneur of the Year 2017 awards, which held on 4 Aug at Taj Samudra, Colombo. She also attained the Gold award for her ingenious entrepreneurial skills in the extra large business enterprise category. The illustrious occasion saw the gathering of t more..

Aug 7 (CT) Minister of Transport and Civil Aviation Nimal Siripala de Silva recently stated that the Govt would not leave Sri Lanka’s trade and transport sector open to foreign parties, allowing them to take the benefit of the sector, a press release stated. He made these observations at an award ceremony organized by the Chartered Institute of Logistics and Transport (CILT). “As a minister representing the SLFP, I would like to state that we will always stand for your aspirations. more..

Aug 7 (CT) Strong concern is being expressed by foreign missions, overseas investors, and local contractors over a clear breakdown of SL’s Procurement Appeals Process for large scale, Cabinet level Procurements related to Standing Cabinet Appointed Procurement Committees, (SCAPC), Cabinet Appointed Procurement Committees (CAPC) and Cabinet Appointed Negotiating Committees (CANC). more..

Aug 7 (CT) Minister Akila Viraj Kariyawasam has stated that he had at no stage recommended a cable car service project to be introduced for foreigners visiting the Sigiriya Rock Fortress and that certain media reports linking him to the controversial project were erroneous and false. Minister has stated that he had at no stage, submitted a proposal to the Cabinet, identifying the need to introduce the cable car project and reports in the press were fabrications & falsehoods. more..

Aug 7 (AD) The govt should explain how the sovereignty of the country is defended when leasing out Mattala Rajapaksa Int'l Airport (MRIA), says Elle Gunawansa Thero. The govt should also explain regarding the ownership of the airspace above Mattala Airport once the airport is leased, added Gunawansa Thero. According to Thero, if a war breaks out in the future with the existing power struggle in the current politics, SL will be interposed between a ball game of two parties. more..

Aug 7 (DN) The Finance and Mass Media Ministry categorically refuted claims that the salaries of MPs and ministers should be increased on par with the judges’ salaries. The ministry revealed that the Cabinet on January 9 this year had taken a decision that the judicial officers be treated as a unique category when determining their salaries and other facilities. Cabinet on the same day has also taken a decision that the AG’s Dept more..

Aug 7 (CT) The last surviving member of the four individuals admitted to the Panadura Hospital, after a beach party in Wadduwa, died yesterday morning. The reasons for these deaths still remain unknown. The deceased were a 20-year-old from Divulapitiya, a 36-year-old from Kesbewa, a 31-year-old from Wadduwa and a 28-year-old from Hokandara. The four were admitted to the Panadura Hospital on 4 August following a beach party held in Wadduwa which was reportedly attended by over 1,500 more..

Aug 7 (Island) Colombo Municipal Council (CMC) Commissioner V.K.A. Anura, who was removed from his post earlier this year, on the basis of recommendations by a Presidential Commission appointed to inquire into the collapse of the Meethotamulla garbage dump, was reinstated yesterday. He was reinstated by the Governor of the Western Province, Hemakumara Nanayakkara. Prez Commission headed by retired Justice Dr C. Nanayakkara found that the Commissioner more..

Aug 7 (CT) Doctors warned of a move by Minister of Health, Dr. Rajitha Senaratne and individuals working for NGOs to abolish the Sri Lanka Medical Council (SLMC). Secretary of the GMOA, Dr. Haritha Aluthge claimed that his Union, in collaboration with medical faculty student unions and several other organizations, were willing to do battle with the Ministry if it issued the Gazette Notice abolishing the establishment more..

Aug 7 (DM) The JO and GMOA are both complementing and competing with each other for the position of the most influential opposition of the UNP-led govt. When one blocks roads with rallies the other cripples hospitals. When one pushes railway unions to action the other pulls medical students to roads. They both hold regular press conferences to drive home the point that the country’s economy is in tatters and the govt is out to sell the country. more..

Aug 7 (DM) Is there a specific method of acquiring knowledge, which is peculiar to Western science? Starting with Francis Bacon up to Thomas Kuhn, perhaps the Philosophers of Science had thought so, though the methods that they had identified were not the same. They agreed that Science differed from other subjects and systems of knowledge mainly because there was a Scientific Method in acquiring knowledge. Paul Feyerabend on the other hand was of the opinion that there was no more..

Aug 7 (DM) Sri Lanka would go to a presidential election sometime during the next year as the presidency enters the final year of its five year term in Jan 2019. The prospect of a new Constitution, which may also require the approval in a referendum is diminishing. And even the constituent partners of the govt are divided over the rationale of abolishing the executive presidency. A presidential election plus a general election more..

Aug 7 (DM) During an interview with the Daily mirror, Maithri Gunaratne the former provincial councillor from Galle who formed a new political party titled UNFF speaks about the weakness of the Yahapalana Govt. He was also the former Chairman of the Lanka Coal Company (LCC) and Ceylon Mineral Sands Corporation. Q: Who is responsible for the failure of the Yahapalana govt? A: The blame will mainly go to the President more..

Aug 7 (ST) A 22-member rugby team visited Sri Lanka in May this year to play charity matches. One night, two players chose to have some fun off the field. From the hotel where they were staying, the duo went to the Cleopatra Night Club on Galle Road in Kollupitiya –andin the wee hours of the next morning, they returned to their rooms. They fell unconscious and later they were found by their colleagues. more..

Aug 7 (DM) State Minister of Finance Eran Wickramaratne speaks about the economic policy of the govt and recent tax reforms. Q: The govt faces a lot of criticism over recent tax hikes, particularly on the small and medium scale entrepreneurs. Won’t it affect their investment capacity and expose them to economic vulnerabilities? A: We have to understand that tax base in SL is dangerously at low levels. more..

Aug 7 (CT) Deputy Minister Manusha Nanayakkara stated that so far legal action has been instituted against 163 bogus employment agencies and that he would leave no room for those committing illegal acts to go scot free. He added that his Ministry had filed the cases during the first seven months of this year and that those guilty of violating foreign employment laws and regulations will be punished to the very letter of the law. more..

Aug 7 (DM) SriLankan airlines has obtained three treasury bonds amounting to Rs.46 billion in 2012, 2013 and 2014 to help the cash-strapped national carrier, airlines' company secretary, Dalrene Thirikumar told the PCoI inquiring into irregularities at SriLankan airlines, SriLankan Catering and Mihin Lanka. She said that the requirement of funds for operation purposes was submitted to the Treasury from 2009. more..

Aug 7 (DN) Police have arrested the five suspects involved in the Rs.20 million theft of money being taken to replenish ATM machines in Bulathsinhala. Of the stolen cash, Rs, 10 million has been recovered, together with a jeep used in the robbery. The incident occurred when a group of thieves had thrown chillie powder in the faces of a team transporting the cash to replenish the ATM machines in the Naragala area on more..

Aug 7 (PMD) Achieving sustainable development goals is to make the country and the nation victorious, Prez Sirisena said and invited all citizens including political leaders, academics, private sector, entrepreneurs and school children to join hands to achieve success in attaining these goals. He made these remarks participating in the launching ceremony of the National Sustainability Discourse more..

Aug 7 (Island) Female Labour force participation rate (LFPR) has dropped in the first quarter of 2018, to 33.5%, compared to 37.6% recorded in the first quarter of 2017, SL Labour Force Survey first quarter - 2018 report by Dept of Census & Statistics revealed. This is the lowest female LFPR since 2012, 32.9%. LFPR is the labour force population expressed as a percentage of the population, age 15 years and over. more..

Aug 7 (NR) The Locomotive Engineering Operators' Union has attributed the train accident to substandard signalling system among other issues. Secretary Indika Dodangoda said the union will refrain from submitting their finding until the end of the on-going investigation. He said several technical issues also contributed to yesterday’s accident. Secretary Dodangoda added special committee appointed to investigate more..

Aug 7 (CT) MP Vijayakala Maheswaran has struck again with her rabble-rousing statements when she had charged that the Southern part of the country was responsible for supplying drugs to the North and that the menace had increased with the end of the war in 2009. Addressing the public in Kilinochchi last week, she had charged that narcotics were moving freely from the South of the country to the North with the massive support of errant lawmakers. She points the finger of blame against more..

Aug 7 (FT) Today, there is an ongoing discussion about the EPF Sri Lanka, focusing on many related aspects. The main concern was the alleged swindling of its funds in association with the CB Bond Scam. Currently, the working class organisations are debating about the advantages of a proposal by the Govt to appoint fund managers to man its investment portfolio. In this context, it is relevant and important to pay attention to the issues in a watch out sense, mindful of the p’s & q’s. more..

Aug 7 (CT) In a hard-hitting statement issued by the Board of Directors of Jaffna College, Bishop Daniel Thiagarajah, Chair of the Board, has accused the Trustees of Jaffna College Funds for misappropriating the Trust funds for the purpose of paying their legal fees. The statement notes that the Trustees have laid down unnecessary and unreasonable demands since January 2017. The statement also observes that the Principal of the College and Board of Directors worked hard more..

Aug 7 (GDI) A special Unit has been established to submit any firm information with the evidence regarding the fraud, corruption and malpractices relating to construction works of the Moragahakanda-Kalu Ganga Development Project. This Unit has been set up fulfilling a promise made by the President as to swiftly establish this Unit, at the water filling ceremony of the Kalu Ganga reservoir last July 23 It is possible to give information through 011-20134159 and more..

Aug 7 (Roar) It is drizzling, and the courts at the SL Tennis Association are largely empty. However, in one of them, a trio of people sit under a shelter, waiting for the rain to stop. One of them is Jagath Welikala, a veteran tennis coach who has been coaching for the last three decades. The other two are tennis players – they wield rackets and spin them around as they watch the skies and talk to each other. more..

Aug 7 (NR) The former Chief of Staff of the President IK Mahanama and the former Chairman of the State Timber Corporation Piyasena Dissanayake, arrested on charges of soliciting a 20 million rupee bribe, have been further remanded until the 10th of August. The order was issued by Colombo Chief Magistrate Ranga Dissanayake this afternoon. The duo was arrested on the 3rd of May while attempting to obtain 20 million rupees from an Indian investor. more..

Aug 7 (DM) Four railway officials have been interdicted in connection with yesterday’s train accident at Pannaliya off Polgahawela. Officers under interdiction pending further investigations are the driver the assistant driver, the head guard and the under guard of the Rambukka bound train that rammed into the Kandy bound express from Colombo. Minister Nimal Siripala De Silva had directed the Railway General Manager to interdict the officials pending an inquiry. more..