Aug 27 (FT) Jargons are subject specific special words in the vocabulary of experts, professionals and politicians claiming superior insight. In the Daily FT Guest Column on Saturday 20 August Haircuts and economic revival strategies Dinesh Weerakkody makes this observation: “Local debt haircuts would have to deal with the resultant banks’ capital augmentation through capital injections, where possible from FDIs or local investments with better bank prudential behaviour and more..

Aug 27 (DM) The commonwealth games have come to an end with several members of the Sri Lankan team gone missing which had made a mockery of the SL points table as Gold - 0, Silver -1, Bronze-3, Missing-10, Found-2, bringing much embarrassment to the country. This was not the first time this took place, 23 Sri Lankans claiming to be members of a national handball team vanished without a trace in Germany, the impact of this incident brought much disrepute to the Country more..

Aug 27 (CT) Amidst growing criticism against the govt for allegedly attempting to suppress anti-govt movements by enforcing provisions under Prevention of Terrorism Act (PTA), President Ranil Wickremesinghe indicated the need for Sri Lanka to be well equipped to face a cyber-war. He was participating in a ceremony held on Thursday (25), to present the Presidential Colours and University Colours to the KDU. more..

Aug 27 (DM) Friday August 26th was the 95th birth anniversary of well-known Sri Lankan Tamil political leader and one-time leader of the opposition Appapillai Amirthalingam. The enfant terrible of the ITAK who later metamorphosed into the elder statesman of the TULF who strode across the Tamil political stage for nearly four decades. A lifetime of toil and service to his community was cut short on 13 July 1989 when he fell victim to bullets fired by LTTE operatives in Colombo. more..

Aug 27 (CT) Prez Ranil Wickremesinghe, in an interview with Nikkei Asia on Wednesday, to quote excerpts, said, “‘We have informed the Chinese Govt of the need to restructure the debt and the need for all the creditors to sing from the same hymn sheet. China, of course, has adopted a different approach, so it is a question of what is the agreement that the other creditor parties can reach with China.” Wickremesinghe was responding to a question about China’s preferred route of refinancing more..

Aug 27 (CT) Years ago, a man died in Pelanwatta after a bizarre and botched ritual to drive out what he thought were evil spirits from a house. The man sacrificed a cat and was then buried in a shallow grave after instructing onlookers to dig him out once he gave a signal of pushing a sword he was carrying through the ground, Police said. There was no sign of the sword coming up from the grave even after three hours. more..

Aug 27 (DM) In the aftermath of the COVID pandemic and the unprecedented public uprising against the former Prez Rajapaksa or the socio-economic and political crisis, some party leaders and experts are calling for a new executive council system where the people will lose their sovereignty. US’ former Prez Franklin D. Roosevelt has said democracy cannot succeed unless those who express their choice are prepared to choose wisely. The real safeguard of democracy, more..

Aug 27 (CT) Govt’s decision to replace the much-censured Prevention of Terrorism Act (PTA) with a brand-new National Security Act (NSA) can be expected to trigger greater criticism. The victimised Tamil community and polity were alone in opposing the PTA. Now, after the detention of three Aragalaya protesters, all of them, uni students and one of them, a Buddhist Monk, will find new critics from the majority Sinhala community, too. Defence Ministry, under Prez Ranil Wickremesinghe, more..

Aug 27 (Island) The Opposition has condemned the govt for what it calls a political witch-hunt against the Aragalaya activists, and called for an end to the spate of arrests. It has said such coercive measures will not help intimidate the public into submission, and the causes of social unrest have to be eliminated if popular uprisings are to be prevented. But it has failed to knock any sense into the ruling party leaders, who are convinced otherwise and determined to go on strong-arming protesters more..

Aug 27 (DN) "I have to focus more on my bowling in addition to the batting and we have to come up with a team effort during this Asia Cup”, said SL skipper Dasun Shanaka at the pre-match press conference yesterday at the ICC Cricket Academy in Dubai. “Our three senior pacemen Dushmantha Chameera, Kasun Rajitha and Binura Fernando were injured and I have to bowl with juniors like Chamika Karunaratne and will be playing the role of bowling all rounder added Shanka who excelled as more..

Aug 27 (FT) SL's tea exports in value in the first seven months of this year have hit an all-time high on lower volume. The country earned the highest ever Rs. 206 billion between January and July 2022 up by a massive 37% from the corresponding period of last year. Whilst depreciation of the rupee played a significant part, Asia Siyaka Commodities said that the dollar average FOB per kilo in July was a high $ 5.16 per kg, more..

Aug 27 (Island) In the absence of a proper mechanism to tackle the massive waste, corruption, irregularities and mismanagement, disclosed by the parliamentary watchdog committees, COPE, COPA and COPF, they are quietly suppressed. In spite of repeated assurances given by the Parliament, tangible measures hadn’t been taken, so far, to ensure legal measures against those responsible. Therefore, the Parliament cannot absolve itself of the responsibility for current crisis caused by more..

Aug 27 (CT) Sri Lanka ended their ongoing Billie Jean King Cup by BNP Paribas Asia/Oceania Group 2 Tennis Tournament in third place after defeating Pakistan 3-0 on Friday. The islanders playing for third spot were off to a dominant start with Anjalika Kurera opening the count with a thrilling win over Suhali Ushan (4/6, 6/3, 7/5) in an eye catching three setter. In the second singles, Rukshika Wijesuriya had things easy with a 6/0, 6/1 win over Mahbob Khan. Into the doubles, more..

Aug 27 (CI) "If anyone asks how you are, the coach suggested we say, well done, because the weather here is like that." Speaking ahead of the start of the Asia Cup, Bhanuka Rajapaksa made an entire room laugh by likening the experience of Dubai's oppressive heat to that of meat on a grill. Daytime temperatures have touched 46C, leaving teams needing to find a balance between going full-tilt & conserving energy. more..

Aug 27 (FT) As SL struggles under the weight of the ongoing economic crisis with power outages, shortages and price increases of essentials, the Joint Apparel Association Forum welcomes the call to action by the Ethical Trading Initiative (ETI) and the American Apparel and Footwear Association (AAFA) to support the apparel sector’s efforts towards ensuring worker welfare. ETI has commenced a collective response by engaging with economists, industry associations, more..

Aug 27 (FT) SJB MP S.M. Marikkar welcomed the conditional Presidential pardon granted to former MP Ranjan Ramanayake, who was released from prison. Marikkar stated that Ramanayake was found in contempt of court for comments he had made in passing to the press, and subsequently jailed. Ramanayake had not convened a media briefing and made a planned attack on the Judiciary, SJB’s media spokesperson said. Marikkar said it places the spotlight on the recent comments more..

Aug 27 (CT) The taxpayer will have had incurred an additional cost of at least Rs 1.71 billion In the 11 days to Thursday (25) because of the burning of the expensive diesel to provide electricity to the country due to the malfunctioning of two of the 300 MW machines of the 900 MW (3X 300 mW) Norochcholai Coal Fired Powered Plant (NCFPP) since 15 August, Ceylon Electricity Board’s (CEB’s) Friday’s (26) data showed. Such additional costs on Thursday alone amounted to at least Rs 0.13 billion. more..

Aug 27 (FT) Another round of discussions with the International Monetary Fund, with the aim of finding solutions to the financial crisis facing SL, was held yesterday at the President’s Office under the patronage of Prez Ranil Wickremesinghe. Prez joined the meeting via Zoom technology and both parties exchanged ideas in a positive manner. The IMF had made a request for additional information pertaining to electricity tariff revisions, Excise Act etc. and it was decided at this meeting more..

Aug 27 (ST) The absence of price controls on wheat flour and other key ingredients used by manufacturers of bakery and confectionery products is causing concern among those in the industry, while consumers complain of the high retail tab. Manufacturers say they are compelled to raise retail prices and Govt intervention is needed to rein in the prices of ingredients. Bakery Owners Association said that more..

Aug 27 (DM) Lanka Hospitals Corporation posted a profit after tax (PAT) of Rs.2.7 billion for the six months ending on June 30, further consolidating its strong balance sheet. For the period, Lanka Hospitals recorded a gross turnover of Rs.5.25 billion and an operating profit of Rs.801 million. Together with the operating profit, investment income and exchange gains, Lanka Hospitals has reported a strong financial position, reflecting a profit growth of 140% compared to more..

Aug 27 (ST) During the panel discussion, Irrigation Director Abeysiriwardena quoting Parakramabahu the Great stated that Sri Lanka should not allow a single drop of water falling from the sky to flow to the sea without serving mankind. He stressed that the country needed to optimize the returns of water resources so as to ensure sustainable economic and social development while safeguarding the environment. Referring to the unseasonal release of water to Minneriya, more..

Aug 27 (ST) Emaciated and just skin and bone, ghostly creatures are haunting the Minneriya and Kaudulla areas, where once roamed the majestic wild elephant in numbers as large as 400, drawing excited tourists to the acclaimed Gathering, bringing in the much-needed dollars. Wild elephants, especially babies and juveniles, in this area are dying! No it is not speculation, the Sunday Times learnt on more..

Aug 27 (Island) Close on the heels of the presidential pardon granted to former SJB lawmaker Ranjan Ramanayake, serving a four-year term RI for contempt of court, a contempt case is to be filed, on Monday, against SLPP MP Sanath Nishantha. Petitioner Attorney-at-law Priyalal Sirisena intends to move the Court of Appeal, in terms of Article 105(3), against the Puttalam District lawmaker over statements made at a media conference, called on Aug 23, at SLPP head quarters, Bataramulla. more..

Aug 27 (CT) The SJB has pledged to appoint Ranjan Ramanayake as an MP through the National List when the opportunity arises. In a tweet, Opposition Leader Sajith Premadasa said, the SJB, has agreed to provide the appointment on the National List at the first available opportunity. “We the SJB wholeheartedly pledge to appoint Ramanayake to Parliament in the first instance of an occurrence of a vacancy in the National List,” Premadasa tweeted. more..

Aug 27 (CI) It's a very 2022 thing to say, but it's possible that SL and Afghanistan are pretty evenly matched sides. Hear me out. Of the two sides, Afghanistan tend to play weaker teams, of course, but since 2020, they have won a T20I series against Ireland, won two against Zimbabwe, and drawn one against Bangladesh. By comparison, SL have won just one T20I series since 2020. This was against India. That sounds impressive. Until you remember this was the series in which an already more..

Aug 27 (CT) The Medical and Civil Rights Professional Association of Doctors (MCPA) lamented that the union had received information that the allocations for the health service had been greatly reduced in the Interim Budget which is to be debated in the coming week. MCPA President Dr. Chamal Sanjeewa said Prez Ranil Wickremesinghe and the Govt have the responsibility of informing the public the road map by which the current economic crisis would be resolved, more..

Aug 27 (EN) When the finance ministry tightened imports last week, balls were treated exceptionally harshly and only small balls escaped the squeeze, but the size discrimination left both sportsmen and women fuming. Gazette Extra Ordinary 2294/30 of Aug 23, 2022 allowed smaller golf balls and ping pongs escaped the crushing import restriction that applied to bigger balls used in cricket, tennis, football and rugby. more..

Aug 27 (DN) Ten dilapidated buses repaired and refurbished by the state-owned Lakdiva Engineering Company Limited have been handed over to the Sri Lanka Transport Board (SLTB) at an event presided by Minister Dr. Bandula Gunawardena at the company’s site in Ekala, Ja-Ela yesterday. The Minister gave instructions to the relevant officials to further expand the bus repair works carried out by the company as an urgent solution for the current shortage of passenger transport buses. more..

Aug 27 (CT) MP Kumara Welgama said, he will unreservedly back any endeavour made by former Prez Chandrika Kumaratunga’s son, Vimukthi Kumaratunga, to enter mainstream politics and charter a new political journey with the SLFP. He said, he has not been officially informed to date of any move made by the Ex-Prez’s son, to step into SL politics. But, he insisted if any decision is made by the UK-based veterinarian to that effect, he will wholeheartedly throw his lot with youngster. more..

Aug 27 (DM) Asian Development Bank (ADB) halted funding for the Rooftop Solar Power Generation Project in SL, which was aimed at increasing solar power generation and fast-tracking the implementation of the govt’s Battle for Solar Energy programme. Solar Industries Association (SIA) Secretary Lakmal Fernando revealed that the project has been halted by the ADB following a request by the govt to repurpose the funding more..

Aug 27 (FT) Upon his release from prison, Ranjan Ramanayake has been appointed as the Goodwill Ambassador to promote and service the welfare aspects of migrant workers of SL globally. The appointment was by Labour and Foreign Employment Minister Manusha Nanayakkara. Former MP Ramanayake who was serving a four-year rigorous imprisonment for contempt of court was released yesterday following a conditional pardon by Prez Ranil Wickremesinghe. more..

Aug 27 (Island) SJB MP Patali Champika Ranawaka sent a letter to Prez Ranil Wickremesinghe asking for an investigation to determine if there had been irregularities in the procurement of fuel.MP Ranawaka said that Minister Kanchana Wijesekera last week had asked the CID to investigate the activities at the Ceylon Petroleum Corporation, and Ceylon Petroleum Storage Terminals Limited (CPSTL). However, the police were not capable of determining if irregularities were taking place more..

Aug 27 (AD) A special gazette notification has been issued by Water Supply Minister Keheliya Rambukwella, increasing the water tariffs with effect from Sept 1, 2022. The tariff revision was made in terms of Section 84 of the National Water Supply & Drainage Board Law No. 02 of 1974. Accordingly, the tariffs have been revised for all consumers supplied with water from the water supply schemes of the NWSDB. more..

Aug 27 (FT) Sri Lanka has long been admired by development economists, international financial institutions, and public intellectuals for leading South Asia in all economic and social indicators. Per capita income of $ 3,853 in nominal terms (almost twice as much as India’s) and $ 12,850 in PPP dollars, poverty headcount (measured at $ 1.90 per day) less than 1% of the population and multidimensional poverty of 16% placed the country ahead of every other country in the region. more..

Aug 27 (FT) Sri Lankans battled with each other for 30 years costing an estimated $ 200 billion (Ref. S. Menon, former foreign secretary of India). When that ended they tried attracting investors and the Colombo Port City (CPC), the FDI worth over $ 1 billion, was launched as part of China’s Belt and Road Initiative (BRI). FDIs from the Shangri-La chain are also notable. Both are tools to prevent conflicts through employment generation. Indian mega market is an opportunity SL should more..