Mar 18 (DM) First Capital Research (FCR) revisiting its earlier forecasts said it now expects the Central Bank to deliver two more rate hikes in the second half of the year, up from the previously forecasted three for the full year, taking the total number of rate hikes pinned for the year to four. In a note released just less than a week after the Central Bank’s 100 basis point hike, the research house said it expects a further 200 basis point hike from two more rate hikes occurring in the second half, more..

Mar 18 (FT) SLASSCOM, SL’s national chamber for the IT-BPM industry, FITIS, Federation of Information Technology Industry SL and CSSL, the Computer Society of SL, yesterday congratulated the Govt’s recent move to pass the new Personal Data Protection bill, as part of the country’s efforts to move towards a modern digital state and economy, and was appreciative of the role played by the Ministry of Technology and ICTA. The Bill is the first of its kind to be passed in South Asian region. more..

Mar 18 (FT) India’s support for Sri Lanka expanded by a further $ 1 billion yesterday when the two countries signed a fresh loan whilst agreeing to a new master framework to further enhance bilateral cooperation. The short-term concessional loan facility of $ 1 billion extended by the Indian Govt through the State Bank of India (SBI), will help SL to ease the severe pressure on scarce foreign reserves to import food, more..

Mar 18 (FT) SL’s COVID-19 case count rose to 657,435 following the detection of 301 COVID-19 patients yesterday. Previous day, 320 persons tested positive for COVID-19. 4,129 PCR tests and 2,740 rapid antigen tests were conducted on Wednesday. 69,568 COVID-19 patients have been detected since 1 Jan. Local cases also include 483,090 persons from the New Year cluster, 82,785 persons from the Peliyagoda cluster, 9,154 persons from the Prisons cluster and 3,059 persons from more..

Mar 18 (FT) 35 megawatts (MW) from the Broadland power plant will be integrated into the national grid by early next month, according to Minister Pavithra Wanniarachchi. “As the Minister of Power and Energy, I am fortunate to be able to re-integrate a power plant into the national grid that was started during my tenure as the Minister of Power and Energy. It has the potential to be used as a solution, so we hope to add the expected 35 MW of capacity from the Broadland Hydro Power Plant more..

Mar 18 (TM) Although the struggle for justice for the Easter Sunday terror attacks of 21 April, 2019 reached a certain climax with Colombo Archbishop His Eminence Malcolm Cardinal Ranjith meeting with the Catholic church’s Head, His Holiness Pope Francis and addressing the UNHRC, the struggle for the same would continue locally, said the local Catholic church. Colombo Archdiocese Social more..

Mar 18 (Island) Piyal Nishantha de Silva and Korean ambassador Santhush Woonjin JEONG visited together the stall for Saemaul Co-operative Members at the Exhibition and Fair for Women Entrepreneurs in BMICH on the occasion of International Women’s Day. This stall exemplified SL women’s empowerment and dedication to uplift rural economic development. Saemaul products including Kegalle Saemaul Mushroom, Shoe products and a variety of delicacies were displayed and sold more..

Mar 18 (TM) Inter-Company Employees’ Union’s Hotel Workers’ Centre (HWC) claimed that the Govt’s decision to impose restrictions on the importation of more than 300 non-essential items has made it impossible to maintain places that are providing services for tourists. HWC National Organiser Jayathilaka Ranasinghe said that much of the commodities that are needed for tourist hotels and restaurants are usually imported. He added that the Government should have thought twice more..

Mar 18 (DN) Sigiriya will be declared the first eco-friendly tourist destination in the country free of plastic and polythene this year, Tourism Minister Prasanna Ranatunga said. He said the Ministry of Tourism and the Tourism Development Authority are working in collaboration with institutions such as the Central Cultural Fund and the Wildlife Department in the effort. Minister who visited the Sigiriya Tourist Zone on Wednesday (16) further stated that the Govt is also taking steps to expand more..

Mar 18 (DM) SJB MP Rajitha Senaratne said his son Chatura Senaratne was very much part of the SJB and slammed critics within the party who claimed that his son was not part of the political party. Senaratne said that Chatura had attended the SJB protest as a party member and he was the Biyagama organizer for the SJB and a part of the working committee. "Those members who claim that Chatura is not part of the SJB are unaware who their members truly are then. more..

Mar 18 (EN) SL’s current economic troubles would have been avoided if a decision has been made to approach the IMF earlier and authorities cannot disclaim responsibility, opposition legislator Harsha de Silva said. De Silva said Prez Rajapaksa in a national address indicated that he will work with the IMF to solve the economic and debt crisis. “It is a good thing, but the problem is if the problem was anticipated, more..

Mar 18 (TM) SJB MP Ajith P. Perera urged the Govt to present to Parliament the energy agreements that were signed with India’s Adani Group about renewable energy projects in SL. “Indian PM Narendra Modi is giving us money to buy medicines. But, at the same time, he is stealing our renewable energy sector’s most valuable lands and resources for his friend – Adani. These agreements need to be presented to the Parliament during its next session,” urged Perera while speaking to the media. more..

Mar 18 (TM) The JVP has alleged that the all-party conference to be held on 23 March has been convened to resolve the conflict between the SLPP and the SLFP, and not to discuss the current economic crisis in the country. JVP Leader and NPP MP Anura Kumara Dissanayake claimed that the said conference has been convened purely for political purposes. “This is a conference convened solely for political reasons. There was a discussion between Prez Rajapaksa and the SLFP more..

Mar 18 (DM) The govt has been unable to clear two consignments of fuel consisting of diesel and jet fuel which is presently docked at the Colombo Port totalling to US$ 42 million and due to the delay in clearance, the foreign company is now claiming a fee for demurrage. According to inside sources, the consignment consists of 22,000 metric tonnes of diesel and 22,000 metric tonnes of jet fuel, and it has been docked at the port for 5 days more..

Mar 18 (AD) Former PM Ranil Wickremesinghe says that SL could have avoided the present economic crisis and dollar shortage if the govt had sought the assistance of the IMF much earlier before the situation reached a critical point. “It could have been done if we had gone to the IMF. This happened because we did not go,” he said. He warned that now the country will face another problem with the IMF because the decision to limit the import of around 300 items in the market economy. more..

Mar 18 (CT) Govt of SL’s (GoSL’s) non-demand-pull inflationary face value money printing (FVMP) debt increased by Rs 34,820.96 million, therewith upping GoSL’s FVMP debt by 1.49% to a record Rs 2,372,359.64 million (Rs 2.3724 tri) on Wednesday due to a sustained lack of revenue. GoSL’s highest to the third highest FVMP debt has been recorded in the three consecutive market days to Wednesday, vis-ŕ-vis Rs 2.3724 trillion on Wednesday, Rs 2.3375 trillion on Tuesday, Rs 2.3333 Tri on Monday. more..

Mar 18 (EN) The IMF will begin discussions with Sri Lanka on a program to support the country, spokesman Gerry Rice said as the island is facing steep currency depreciation and inflation after an unusual bout of money printing to keep interest rates low. Prez Rajapaksa said in a national address Wednesday said that he had given the go ahead for an IMF program after meeting senior staff of the lender in Colombo. more..

Mar 18 (FT) It is not correct to perceive SL’s balance of payments crisis as a sole outcome of the inadequacies in the country’s economic and monetary management. The rampant corruption has been a major factor of it. There was no desirable environment in the country conducive to maintaining proper financial management. Since the establishment of a presidential system of governance by the 1978 Constitution placing the Prez, the head of the State above the law, more..

Mar 18 (FT) The reality in Sri Lanka today is akin to the Bayesian interpretation of probability. Perhaps with a difference. Probability may have advanced to certainty! The sun may rise, but it is possible that there may not be power, diesel, petrol, even essential foods and even medicines tomorrow even if they were available today. They might be available again the day after tomorrow. Three or four days ago, the country was told officially that there was no need to devalue the rupee. more..

Mar 18 (DM) As authorities in China, the country where Coronavirus was first discovered, have widened lockdowns in multiple cities due to a spike in COVID-19 cases, Sri Lanka’s Health Ministry has also urged Sri Lankans to abide by health guidelines, warning that the virus was far from over. Medical Technology Services Director and Coordinator in charge of COVID-19 at the Ministry of Health Dr. Anver Hamdani said that even todate SL was experiencing 400 new cases per day more..

Mar 18 (AD) Trade Minister Bandula Gunawardena says he has given instructions to release Indian imported goods, stuck at the port due to non-payment. The imported items will be released pursuant to the USD 1 billion credit line received from India for the procurement of essential items including food and medicines. The relevant directives were given to the Secretary of the Ministry of Trade. On Thursday (17), Finance Minister Basil Rajapaksa sealed a USD 1 billion credit line more..

Mar 18 (DM) Social media is on fire after photographs emerged of Sports Minister Namal Rajapaksa enjoying water sports in the Maldives. Rajapaksa was seen flyboarding and on a jet ski in the Maldives. He later attended a sports awards ceremony which was also attended by the President of the Maldives. A number of people criticized the Minister on social media for traveling to the Maldives at a time the country was more..

Mar 18 (DM) Red notice on thundershowers accompanied by severe lightning was issued for 18 districts in Western, Southern, Sabaragamuwa, Central, Uva and Eastern provinces and in Kurunegala and Polonnaruwa districts, the Dept of Meteorology said today. Accordingly, the 18 districts including Trincomalee, Polonnaruwa, Batticaloa, Matale, Kurunegala, Kandy, Kegalle, Nuwara Eliya, Gampaha, Badulla, Ampara, Colombo, Monaragala, Kalutara, Ratnapura, Galle, Matara and more..

Mar 18 (DM) Even if the President leaves tomorrow, we cannot go for a prez election. All that could be done is for the Parliament to appoint a Prez, Minister Mahinda Amaraweera said. He said even under the powers vested upon the President, he would not have the power to dissolve the government at any time. Therefore, it is not an easy task to shout for a change of power, he said. After the death of former President R. Premadasa, no election was held and no Prez was appointed. more..

Mar 18 (EN) Diplomats of key western nations, the US and Japan have called on SL to join them in vocal support of Ukraine as the country resisted an invasion by Russia’s Vladimir Putin. “As Heads of Mission to SL, we urge the Govt of SL to join us in vocal support for Ukraine and international law, including the UN Charter,” heads mission of key Western nations, the US and Japan said in a statement. more..

Mar 18 (AD) A bus belonging to the Sri Lanka Transport Board (SLTB) has gone up in flames in the area of Bulagala on Dambulla-Anuradhapura road. According to reports, the incident had taken place last night (18). Passengers had been inside the bus when it caught fire, however, no casualties were reported. Dambulla Police has initiated investigations into the matter. In the meantime, a total of 29 people including multiple school children were injured and hospitalized after more..

Mar 18 (CT) Firefighters are now facing a double whammy, with the raging fuel crisis threatening to jeopardise their already high risk livelihood. In addition to the risk they undertake every day when carrying out their duties, the firefighters revealed that services of the Colombo Municipal Council (CMC) Fire Service Department are coming to a standstill due to the shortage of diesel required for fire trucks. Meanwhile, the official distribution ceremony of 15 fire trucks and 15 refurbished fire trucks that more..

Mar 18 (PTI) Six SL fishermen were arrested on Thursday and their boat seized for allegedly fishing in Indian waters by the Coast Guard. This is second such incident this month. The fisherfolks from the island nation were illegally fishing in the Indian Exclusive Economic Zone on March 16 and Coast Guard ship Vajra while on maritime surveillance sighted their boat about 117 nautical miles south east of Kanyakumari. The six member crew was arrested for violating the Maritime Zone of more..

Mar 18 (TM) The authorities of Cuba, SL, Argentina, Venezuela and Kyrgyzstan have officially promised not to detain Russian aircraft, an informed source in the industry confirmed. The Federal Air Transport Agency of Russia (Rosaviatsia) issued a statement among Russian carriers that there are no risks of aircraft arrest when flying to Cuba, Venezuela and Argentina. “According to the information received from the Russian embassies in foreign countries, there are no risks of detention, more..

Mar 18 (Island) Former Speaker and Chairman of NMSJ Karu Jayasuriya said his organisation was glad that the govt had decided to hold an all-party conference. As an initial step to win the confidence of all the political parties, the govt could repeal the 20th amendment to the Constitution, he said. Speaking at the A'pura District Conference on A New Constitution for a Better Country co-organised by the NMSJ, more..

Mar 18 (AD) SL Police says that steps have been taken to suspend the vehicle parade which had been organized from Kalpitiya to A'pura by a motorcycle club in the wake of public outcry and accusations of road rule violations. The annual tour, which had been organized by the ‘Spin Riders Club’ as a charity event, had commenced yesterday and was scheduled to continue until tomorrow. However, the parade drew the ire of the general public and social media users who criticized the decision to more..

Mar 18 (DM) Minister Namal Rajapaksa has requested the police for an investigation to identify how his name was linked to a motor parade held in Kalpitiya yesterday. Namal said that neither he nor the Ministry of Sports and Youth Affairs had any involvement with the motor parade and according to his knowledge it was organized by a private riders club. He said while his ministry encouraged family runs and cycling Sundays, fun rides were not part of his ministry's agenda and more..

Mar 18 (DM) Finance Minister Basil Rajapaksa has returned to the island today following his official visit to India. Accompanied by Secretary to the Treasury and Ministry of Finance S. R. Attygalle and High Commissioner of India to SL Gopal Baglay, Minister Rajapaksa departed for New Delhi on Tuesday (15), on an invitation extended by the Indian govt. The following day, he called on Indian PM Narendra Modi and Foreign Secretary, more..

Mar 18 (DM) Due to the shortage of paper for printing utility bills, the National Water Supply and Drainage Board (NWSDB) has decided to introduce digital payment methods with a receipt. NWSDB Additional General Manager said with the prevailing dollar crisis in the country, companies that import papers for printing utility bills are faced with numerous difficulties. Therefore, the NWSDB is contemplating to introduce alternative methods to help consumers to settle their bills. more..

Mar 18 (EN) China’s Baowu Steel will study the feasibility of investing in Hambantota, which may lead to a billion dollar project, the island’s embassy in Beijing said. SL’s ambassador to Beijing Palitha Kohona had visited Baowu Steel group’s offices in Ma’anshan, Anhui and met senior management to discuss investment potential in Sri Lanka. “Baowu Steel will prepare a feasibility study on making a substantial investment in Hambanthota, Sri Lanka,” the embassy said in a statement. more..