Jan 3 (CT) Colombo’s food inflation accelerated to an unbearable high last month, hitting 22.1%, year-on-year (YoY) with a higher figure than this last seen in Sept 2008, latest data showed. As food inflation plays a major part in overall inflation, as Sri Lanka is a developing economy, consequently, Colombo inflation, as a whole, soared to a 160-month high last month, accelerating to 12.1%, YoY. An overall higher inflation rate than this was last seen 13 years ago, in December 2008, more..

Jan 3 (TM) Amidst controversies surrounding the appointment of SriLankan Airlines’ Chief Commercial Officer (CCO) Richard Nuttall as the acting CEO, SriLankan Airlines Chairman Ashok Pathirage stated that Nuttal’s appointment is only for a period of three months during which the airline will test Nuttal out. Speaking to us yesterday (2), Pathirage stated that the current acting CEO was previously a CEO of another airline and that the next three months will be used to test him out. more..

Jan 3 (EN) Three key policy pillars articulated by the JVP from 2001-2004 and embraced by mainstreamed by the 2005 Mahinda Rajapaksa administration are being questioned as the country runs out of forex reserves amid money printing. From 2005 SL halted privatization, started recruiting tens of thousands of unemployed graduates into the public service every year with lifetime pensions, bloating an already bloated more..

Jan 3 (Island) A series of explosions led to the defeat of the yahapalana govt in 2019; people feared to visit churches, hotels, etc., because that administration had not taken any action to prevent the Easter Sunday blasts. Ironically, today, on the watch of those who came to power by making the most of the political fallout of the Easter Sunday tragedy, people are scared of entering their own kitchens due to explosions. Instead of taking prompt action to recall all unsafe cylinders of gas and more..

Jan 3 (FT) Private sector borrowing is on the rise again in tandem with improved economic activity post-last COVID restrictions and rapid vaccinations resulting in the cumulative figure to surpass the Rs. 6.9 trillion by end-November. As per the latest data, credit to the private sector rose to Rs. 61 billion, a 3-month high, and despite a pick-up in interest rates since the August revision in CBSL policy rates. Cumulative credit to the private sector amounted to Rs. 6.92 trillion in end Nov, more..

Jan 3 (ST) As the new circular requiring the security clearance report for any Sri Lankan wanting to marry a foreigner came into effect from yesterday, registrars have urged the Govt to amend it immediately and grant a three-month grace period to proceed with marriages for which a notice of marriage has been issued. Many of them complained that they learnt of the rule late last month and by that time they had issued more..

Jan 3 (Island) UNP Deputy Leader Ruwan Wijewardene said the most tragic scene he had witnessed in his political life was people waiting in queues without means to celebrate the New Year. He said people had to waste hours in queues at the time the New Year was dawning because the govt had no proper plans to govern the country. “People should have been able to stay at their homes with children to celebrate the dawn of the new year. Instead they had to be in milk powder, more..

Jan 3 (EN) Sri Lanka has placed a ceiling rate on interbank foreign exchange swaps despite there being no dollar liquidity window for banks in a severe liquidity crunch, in the latest control slapped on financial markets hit by forex shortages from liquidity injections. Sri Lanka banks face severe dollar funding crunches either after paying for essential import bills ending up with a negative net open exposure or buying dollar denominated assets like Sri Lanka Development Bonds. more..

Jan 3 (DN) The 17 Member Sri Lanka U19 Squad which took part in the U19 Asia Cup held in UAE left for West Indies straight from Dubai yesterday (2) to take part in the ICC under 19 Men’s Cricket World Cup. SL youth side finished runners up at the Asia Cup losing to India at the final in a one sided affair. SL team led by Dunith Wellalage had good confidence in their batting line up but the way they batted at the semi final against Pakistan and final against India were below expectations. more..

Jan 3 (FT) SL has been successful in attracting nearly 200,000 tourists in 2021 despite the challenges emanating from the global COVID pandemic. SL finished 2021 with 194,495 tourists with December attracting a record 89,506 highest for a month since the onset of the pandemic in March 2020. India topped the list of countries bringing in the most tourists with 56,268; followed by Russia 16,894, UK 16,646, Germany 12,442, and Ukraine 7,037. 2021 figure is however lower more..

Jan 3 (Island) Former fast bowling great Rumesh Ratnayake is tipped to take over the coaching duties of the national cricket team for the upcoming home series against Zimbabwe, SLC sources said. SLC is yet to finalize on the replacement of Mickey Arthur, who did not get a renewal to his contract that ended in December. While SLC has started the interview process of the applicants, it is unlikely that the officials will settle on more..

Jan 3 (EN) SL has linked the rates paid to foreign currency deposit to rupee yields using powers of a Monetary Law devised by a US money doctor, as a currency crisis triggered by record liquidity injections gripped the country. The maximum interest rates that shall be offered or paid by a licensed commercial bank and the National Savings Bank on foreign currency (FCY) deposits below one year would be 150 basis points below the one year Treasury bill auction yield or 5%, whichever is higher. more..

Jan 3 (CT) Time sure does fly, and just like that, another year draws to a close. But before we begin the celebrations on New Year’s Eve, it’s time to look back at all the extraordinary things that have taken place across the 12 months. The year 2021 sure does occupy a unique place in the sporting landscape. The second year of the ongoing coronavirus pandemic, which spread across the globe from China in early 2020, saw athletes and organisations a lot more used to the idea of more..

Jan 3 (FT) Headline inflation, as measured by the year-on-year (YOY) change in the Colombo Consumer Price Index (CCP1), increased to a record 12.1% in Dec 2021 from 9.9% in Nov 2021. On an annual average basis, CCPI increased to 6% in Dec 2021 from 5.3% in Nov 2021. CB said an in-depth analysis of the key drivers of current inflation suggests that a large component of inflation is driven by supply-side factors. more..

Jan 3 (FT) COVID-19 vaccines were administered to 14,205 persons on Saturday and 64.41% of the country’s population has received two doses of a COVID-19 vaccine. 74.4% of the population has received the first dose. 15,993,676 persons have received the first dose of a COVID-19 vaccine, 13,846,323 persons have received the second dose, and 4,072,350 persons have received the third or booster dose. The booster dose was administered to 13,174 persons on Saturday. more..

Jan 3 (FT) SL will ink an agreement with the award-winning Dubai-based global airline Emirates to boost tourism. The landmark agreement will be signed on the side-lines of SL's participation at the Expo 2020 in Dubai and celebrations of SL National Day today. The agreement will see Emirates stepping up promotion of SL as a safe and attractive destination for holidays. In November, Emirates announced the addition of two more flights to Colombo to support the resurgence of SL’s tourism industry as more..

Jan 3 (FT) Foreign Minister Prof. G.L. Peiris described the opportunity to promote Sri Lanka at Expo 2020 in Dubai as timely, and that the country should make the best use of it. “This is a timely opportunity. We need to take the maximum of this opportunity to brand SL. It’s a marketing exercise and it needs to be professionally done in this competitive manner,” Prof. Peiris told a select group of journalists invited to cover the Sri Lanka National Day at the Expo 2020 today. more..

Jan 3 (FT) Prez Rajapaksa has been bestowed with the honorary title of Sri Lankadheeshwara Padma Vibhushana by the Kotte Sri Kalyani Samagri Dharma Maha Sangha Sabha invoking the blessings of the Maha Sangha. Kotte Sri Kalyani Samagri Dharma Maha Sangha Sabha conferred this honorary title on the President during a special religious ceremony organised at the Kotte Rajamaha Viharaya on Sunday, symbolising the country’s need for Prez’s leadership, considering the past more..

Jan 3 (TG) Sri Lanka is facing a deepening financial and humanitarian crisis with fears it could go bankrupt in 2022 as inflation rises to record levels, food prices rocket and its coffers run dry. The meltdown faced by the govt, led by the strongman president Rajapaksa, is in part caused by the immediate impact of the Covid crisis and the loss of tourism but is compounded by high govt spending and tax cuts eroding state revenues, more..

Jan 3 (Island) State Minister Nimal Lanza has threatened to resign from his post if the govt does not withdraw the gazette notification empowering the UDA to acquire hundreds of hectares from the Muthurajawela wetlands. Speaking at a ceremony held in Negombo on Saturday, Minister said that he believed in people’s allegation that a certain party was trying to reverse the decision to withdraw the gazette intended to acquire the Muthurajawela wetlands. more..

Jan 3 (FT) Leader of the SJB Sajith Premadasa said the present Govt is not sensitive to the pain and suffering of people. Speaking at an event in Colombo, he said according to govt representatives, the gas issue cannot be resolved for a few more weeks due to a change in valves and added that it is not the gas valves but the valves of the Govt that have been replaced. Therefore, he asked the people whether there is any alternative but to oust the govt that has changed its valves. more..

Jan 3 (FT) Sri Lanka will get what is billed as the biggest post-COVID spotlight to woo trade, investments and tourism today with elaborate plans to celebrate the National Day event at the Expo 2020 in Dubai which draws 50,000 visitors daily. SL’s fresh push at today’s National Day event will be attended by a high-level delegation led by Ministers G.L. Peiris, Prasanna Ranatunga and SL Ambassador in UAE Malraj de Silva. more..

Jan 3 (TM) CB Governor Ajith Nivard Cabraal and Finance Ministry and Treasury Secretary S.R. Attygalle will reportedly not be summoned to the meeting of the Cabinet of Ministers scheduled for today, despite earlier plans for them to attend and assist the Cabinet to decide on whether the Govt should seek assistance from the IMF. This is due to there being a backlog of cabinet papers which are slated to be discussed at today’s meeting due to a meeting not being held last week; therefore, more..

Jan 3 (DM) In such a situation where Omicron continues to ravage many countries, Health Ministry said the spread of Omicron in Sri Lanka has been contained, despite 48 Omicron cases detected so far. COVID-19 Coordinator, Ministry of Health, Dr. Anwar Hamdani said that Omicron cases had been detected from several parts of the country such as Colombo, Badulla, Anuradhapura and Puttalam districts and added the patients detected so far are overseas returnees. more..

Jan 3 (TM) Despite earlier statements by Ministers Keheliya Rambukwella and Prasanna Ranatunga to the effect that it will be made mandatory for the people to have Covid-19 vaccination cards in possession when entering public places from 1 Jan 2022, Ministry of Health has now decided to delay the implementation of the said decision, citing some technical issues. Rambukwella stated the Health Ministry more..

Jan 3 (FT) Sri Lanka has entered 2022. It is the tradition of Sri Lankans to celebrate the arrival of a new year with kiribath, a symbol of foretelling of happiness, prosperity, peace, and splendour. While kiribath is partaken at every home on the first of January itself, employees of both govt and private sector will do so on the first day in office after the first. Despite the gloomy economic situation in 2020 and 2021, almost all Sri Lankans had followed this tradition in 2022 too. more..

Jan 3 (DM) While stating that the Omicron COVID-19 variant was not only confined to certain areas from where Omicron cases had been detected, the Health Ministry said such cases could be found from every part of the country and it could pose a huge threat to the entire island. Dr. Hemantha Herath said people should not feel relaxed assuming that Omicron cases were found only in certain areas. “The number of Omicron patients does not matter a lot as they are detected only from samples more..

Jan 3 (EN) Stocks closed on Monday, the first working day of the year, at a fresh all time high crossing 12,600 points on short-term bullish sentiments as IPO funds flowed into the market. On Monday, the main stock index gained for a fourth straight session, hitting a new all-time high, helping the index to end 3.27% up for the day. The index gained 399.81 points, to 12,625.82, its highest close ever. “The market gained…..mainly due to the positive sentiments as most of the more..

Jan 3 (FT) There is no longer any doubt that SL stands on the precipice. Across the ideological spectrum, people recognise that the current crisis is extremely profound, and that it requires exertions to match. The direction of the force that is applied will shape the solution. In the case of the current Govt, of course, as many observers have pointed out, it seems to have convinced itself that its strenuous boosterism alone will re-inspire business confidence, and that the country’s economy will more..

Jan 3 (AD) All govt schools and govt approved schools reopened today to commence academic activities. School term holidays were given from Dec 23 while authorities were instructed to reopen schools from today under health guidelines. The ministry had decided to limit the 2021 year end school holidays to just 10 days as the country’s schools had remained closed for around 6 months amidst the Covid-19 pandemic. more..

Jan 3 (DM) A total of 86 persons were killed in road accidents reported across the country within the last 9 days, Police Spokesman SSP Nihal Thalduwa said. 33 persons have died in road accidents within the last two days alone. Eighteen persons were killed in road accidents on Jan.1 this year while 15 persons have died in road accidents on Jan.2. Most of the victims were motorcyclists and three wheeler drivers while three pedestrians were also killed in accidents on Sunday (2). more..

Jan 3 (Island) The govt yesterday undertook to make available jet fuel at the same price as kerosene (Rs. 87 a litre) to overcome the current kerosene shortage. Energy Ministry Secretary K.R. Olga said that there was no harm in using jet fuel for domestic purposes; internationally the word, kerosene, was not used, she added. A jet fuel shipment was expected to arrive on 20 Jan, she said, noting that jet fuel was much more expensive and would be processed and sold as kerosene at a loss. more..

Jan 3 (TM) Ministry of Health’s home-based care programme has pointed out that the last two weeks have seen a significant drop in the number of home-based Covid-19 patients, raising suspicions that Covid-19-infected patients may have engaged in activities such as shopping during the festive season, despite their illness. Ministry of Health integrated home-based care programme for asymptomatic and mildly symptomatic more..

Jan 3 (TM) The entire country is in jeopardy because the Government has attempted to do what it cannot achieve, State Minister Susil Premajayantha opined while speaking to the media. “Govt could have done it if they took the necessary steps beforehand. When there are no fertilisers for the farmers, how can they reap their harvest? The entire country is in jeopardy because this Government has attempted to do what they cannot achieve. People who took these decisions must be held responsible,” more..

Jan 3 (CT) Trade Minister, Dr. Bandula Gunawardena said the Mahapola Scholarship Trust Fund has acquired 123 acres of land from the Millewa Urban Development Authority to construct a Village of Universities, which is yet another step taken to secure and develop this fund. He said all Mahapola scholarship instalments had been paid to uni students at this point. He said thousands of undergraduates had benefited from the Mahapola Scholarship Trust Fund, which was set up by more..