May 16 (Island) Total earnings from the exports of agricultural goods in February 2022 declined by 2.1%, compared to February 2021, due to the decrease in export earnings from tea, spices and unmanufactured tobacco, External Sector Performance Report- March 2022 of CB shows. The drop in export earnings from tea by 10.4% (y-o-y) was mainly due to lower export volumes (a decline of 9.1%), while average export prices (a decline of 1.4%) also partly contributed to this decline. more..

May 16 (EN) Commercial Bank of Ceylon reported profits of 11.6 billion rupees in the March 2022 quarter, up 73% in the from a year earlier as foreign exchange gains outpaced provisions and net interest income also grew. Commercial Bank group reported earnings of 9.42 rupees per share in interim accounts for the March 22 quarter. Net fee and commission income grew 35% to 4 billion rupees. Net interest income grew 19% to 37.8 billion rupees, interest expense grew 17% to Rs 19 billion more..

May 16 (EN) Preliminary investigations into the assault on peaceful demonstrators at Galle Face has shown top-level political interference that led to mob violence and the retaliatory attacks that followed, official sources said. Prez Rajapaksa gave clear instruction to IGP Chandana Wickramaratne and Senior DIG Deshabandu Thennakoon not to allow those pouring out of Temple Trees to reach Galle Face, more..

May 16 (Island) It never rains but it pours. SL has had more than its fair share of misfortunes during recent years, but there seems to be no end to them. A report published by The Hindu says the Indian intelligence has warned that the LTTE is regrouping to carry out terrorist attacks in this country; it must have sent a chill down the spine of every peace-loving Sri Lankan. The Indian media reported that the Defence Ministry of Lanka had initially denied the report in question as baseless, more..

May 16 (TM) The Ceylon Petroleum Storage Terminals Ltd (CPSTL) will recommence fuel distribution duties today (16) after it halted operations yesterday (15) due to the Vesak Poya holiday. “We are closed today, after a long period of time, due to Vesak. We are resuming distribution early tomorrow morning,” officials at the CPSTL told The Morning yesterday. Meanwhile, a new shipment of diesel from India, supplied under the line of credit for fuel, arrived in Sri Lanka yesterday (15). more..

May 16 (ISland) Dr. Wasantha Bandara says the appointment of UNP leader Ranil Wickremesinghe will hinder the formation of an all-party interim administration or a government of national unity. Speaking on behalf of the Patriotic National Movement (PNM) Dr. Bandara said that the envisaged administration could only be described as Gota-Ranil govt. Dr. Bandara, who backed Goabaya Rajapaksa’s candidature at the 2019 prez election, said so in the wake of the Prez swearing more..

May 16 (EN) More than 600 families have been affected so far by prevailing weather conditions in the country, and authorities have warned residents to be vigilant of possible floods and landslides with water levels continuing to rise, DMC said. Due to the heavy rains exceeding 100mm in several parts of the country, the DMC said, floods have been reported in two districts – mainly in the Rathnapura district. 25 people from seven families have been evacuated to relief camps in the areas, more..

May 16 (EN) SL police have arrested over 200 suspects over the mob violence and arson attacks that occurred on May 9 after supporters of ex-PM Rajapaksa attacked a peaceful protest in Colombo. SSP Nihal Thalduwa said that around 230 suspects were arrested for incidents of property damage around the country. “Around 707 cases of vehicle and property damages were reported. More complaints are still coming in and so far more..

May 16 (ENS) Health Minister Ma Subramanian, on Sunday, inspected the drug warehouse in Chennai which stores essential medicines that the State plans to send to Sri Lanka, in the first phase. The Tamil Nadu government had passed a resolution in the Assembly last month to send medicines worth Rs 28 crore to the crisis-hit island nation which is in dire need of supplies. “In total, 137 types of medicines will be sent. For the first phase, we have shortlisted 55 drugs worth Rs 8.87 crore. more..

May 16 (TM) Vesak Poya Day celebrations were organised at the GotaGoGama protest site at the Galle Face Green, where the protestors are demanding the resignation of Prez Rajapaksa, yesterday. Buddhist clergy had gathered near the main entrance to the Presidential Secretariat at the Galle Face Green, where a sermon was preached. An almsgiving ceremony was also held at the site. In addition, Vesak lanterns and Buddhist flags were displayed on both sides of the road near more..

May 16 (EN) SL’s police is set to remove political appointees in key positions and replace them with competent officers in a major shake-up after the latest mob violence, officials said. Monday’s riots left at least 60 homes of top ruling party politicians destroyed in arson attacks despite a heavy police deployment for static guard duties, police said. Former ministers of the SLPP party pitched into IGP C.D. Wickramaratne at more..

May 16 (CT) At least 50 buses were damaged during the clashes that erupted on 9 May in Colombo, after SLPP supporters attacked peaceful anti-Govt protest sites. Private bus associations urged the Police to arrest those responsible for torching the buses on 9 May when thugs attacked peaceful protesters at GotaGoGama and MynaGoGama. According to LPBOA Chairman Gemunu Wijeratne, the buses provided by his association to support the struggle on 9 May more..

May 16 (DM) PM Ranil Wickremesinghe today said that he will provide a full explanation of the financial crisis faced by the country tomorrow and the measures being taken to purchase the essential supplies. He said, "There is a lot to be done and undone. We are prioritizing matters, rest assured they shall be addressed as early as possible. We have managed to get things moving in the last 48 hours. I will provide a full explanation of the financial crisis faced by the country tomorrow (16)." more..

May 16 (TM) The SLFP stated that it would support all correct decisions taken by the Govt to resolve the current economic crisis in the country, and that it was willing to discuss the allocation of ministerial portfolios to SLFP MPs, two days after stating that it would neither be part of a govt under the new PM, nor accept any portfolios. This was stated in a letter directed to newly appointed PM Wickremesinghe yesterday more..

May 16 (TM) With the decision to increase the number of Police personnel deployed for the security of Ministers and MPs in view of the crisis in the country, more than six Police officers will be deployed for the security of each Cabinet Minister, SSP Nihal Thalduwa said. When queried as to whether the security of former Ministers and MPs who are not currently representing Parliament would also be beefed up, he said that the number of Police officers deployed to the security of such more..

May 16 (AD) PM Ranil Wickremesinghe says the draft 21st Amendment will be taken up for discussion today and then be presented to Cabinet for approval. In a statement following discussions with World Bank and Asian Development Bank (ADB), PM Wickremesinghe also said that the two funding agencies have agreed to provide aid to SL in order to procure medicine, food and fertiliser. He met with World Bank Country Manager in SL, Chiyo Kanda and ADB Country Director in SL Chen Chen more..

May 16 (Island) Amidst continuing political turmoil with the SJB declaring that it will not accept ministerial positions in the interim administration headed by UNP leader Ranil Wickremesinghe, Executive Committee of the Bar Association of SL (BASL) has asked newly-appointed PM Ranil Wickremesinghe to bring about a consensus among all the political parties represented in Parliament and endeavour to build a representative Govt of more..

May 16 (TM) The current economic situation in the country can be linked to its political instability. While economic and political instability go hand in hand, the current dilemma facing the country can be attributed to bad planning and decision making, especially concerning its economy. While it would be important to find out the exact reasons for the failures that have occurred, it is equally important to find out as to how one can get out of the mess that is already created. more..

May 16 (TM) The past few days and the uncertainty of it all has not been easy for any of us to process. On 9 May 2022, the Rajapaksa-led Government did what they have always been known to do – create and facilitate the creation of division, and unleash violence on the people to remain in power. Supporters and thugs of the ruling party descended on MainaGoGama and attacked the peaceful protestors, including women, members of the clergy, and persons with disabilities. more..

May 16 (AD) Litro Gas company says that USD 07 million is to be paid tomorrow for two shipments of liquefied petroleum gas (LPG). Litro chairman Vijitha Herath said that a vessel carrying 3,700 metric tonnes of LP gas is expected to reach the island tomorrow morning (17) while another shipment is to arrive the day after (18). Payments for consignments will be made tomorrow, he said. Accordingly, around 80,000 cylinders of domestic LP gas is to be distributed daily starting from Wednesday, more..

May 16 (Island) Canadian High Commissioner in SL David McKinnon has expressed his views regarding the current status of Sri Lankan politics through a satirical tweet. “Everyday I am reminded that #SriLanka sets the gold standard for political humour. Maybe there’s a way to monetize this as an export? @TheDailyShow,” McKinnon tweeted. High Commissioner also tagged the popular US political comedy show The Daily Show, ironically questioning if there is a way to monetize political humour more..

May 16 (EN) Islandwide curfew has been imposed in Sri Lanka from 1100pm on May 16 to 500am on May 17, Prez Rajapaksa’s office said on Monday, a week after deadly clashes left 9 dead and around 300 injured. “Curfew will be imposed on the entire country from 11.00 pm today (16) to 5 am tomorrow (17) in accordance with the provisions of Section 16 of the Public Security Ordinance. more..

May 16 (EN) Profits at Sampath Bank Plc fell 4.9% to 4.9 billion rupees in the March 2022 quarter from a year dragged down as the bank made extra provisions for loan losses, despite higher foreign exchange gains, interim accounts showed. Interest income grew 18.9% in the March 2022 quarter to 26.6 billion rupees, while interest expenses fell 1% to 12 billion rupees. Net interest income grew 42.5% to 14.6 billion. From Dec 2021 to March 2022 customer loans grew 7.8% to 857 mil rupees. more..

May 16 (EN) Net Profits at Sri Lanka’s National Development Bank fell 77% to 539 million rupees in the March 2022 quarter from a year earlier, dragged by bad loans and trading losses as the rupee fell and rates went up. Sri Lanka’s banks are badly affected by a 700 basis points rate hike and a rupee devaluation. NDB Bank reported earnings of 1.51 rupees per share for the March 2022 quarter. At its last close on Friday (13) the share was trading at 45 rupees. “…we had to book in significantly more..

May 16 (DM) About 80% of private buses will be out of service starting from tomorrow due to the unavailability of diesel, IPPBA Secretary Anjana Priyanjith said. He said that they were unable to find a location to refuel. Even though the CPC resumed fuel distribution from today for the Western province, we were unable to get any. Due to the absence of auto diesel, buses used to pump super diesel, even that has not been able to continue for the past few days. more..

May 16 (DM) Another 159 persons have been taken into police custody who were suspected to have involved in violent activities near Galle Face Green, Kollupitiya and several other areas in the country causing damage to state and private properties, police disclosed. SSP Nihal Thalduwa said the suspects were arrested on Sunday and altogether 398 arrests have been made so far over destruction, arson and looting since May 9. He said 159 of those who were arrested have been remanded, more..

May 16 (Island) PM Ranil Wickremesinghe was likely to appoint some senior public officials to the Central Bank despite their involvement in the Treasury bond scams, Education Secretary of the FSP Pubudu Jayagoda said. He that it was likely that Wickremesinghe himself would become the Finance Minister. Wickremesinghe had already tried to influence the Central Bank during some meetings, he said. more..

May 16 (NR) Issuance of passports at the Department of Immigration and Emigration under normal and one-day services will resume tomorrow. The Controller General of the Department said it is compulsory to make an appointment to obtain these services. The public has been requested to use the website www.immigration.gov.lk/ or contact number 0707 101 060 to book an appointment. The Department noted the phone line will be open from 8.30am to 3.00pm on public working days. more..

May 16 (TM) The remaining members of new Cabinet of Ministers will be sworn in today (16), according to political sources. Four ministers have been sworn in so far and it is reported that another 16 ministers will be sworn in today. This time the cabinet will be limited to 20 ministers, including the President and PM. It is reported that several members of the SJB who became independent, several members of the SLFP and several members of the SLPP will be sworn in as Ministers. more..

May 16 (EN) The SJB on Monday has decided to support the new govt under PM Ranil Wickremesinghe for its economic recovery, the party said. However, the support was offered with a warning of withdrawal if the govt tries accommodate defections from the SJB or connecting them to any policies agains the SJB principles. “As a responsible political party, SJB believes saving the country from the current crisis is the utmost importance,” more..

May 16 (CT) Over 5,000 farmers in the Thambalagamuwa Divisional Secretariat area have been left in quandary due to the shortage of diesel to operate the machinery needed to ready their paddy fields this season. Thambalagamuwa Divisional Secretary Gauri Sripathi noted that due to the frequent complaints received from farmers, she had informed all responsible parties in writing about the fuel scarcity. The main reason for this is because there is only one diesel shed in more..

May 16 (Island) The National Peace Council yesterday said that the President and the new PM needed to act urgently and consensually to overcome the national crisis. It said in a statement: SL has a new PM but there is controversy over the choice. There is criticism that Prez Rajapaksa continues to use his presidential powers in an arbitrary manner in a continuation of practices that have led to the present crisis. In facing the unprecedented economic and political crisis more..

May 16 (AD) Minister Kanchana Wijesekera says that adequate fuel will be available in the country with the arrival of a diesel cargo yesterday and three more vessels expected to reach SL in the next 2 weeks under the Indian credit line. Minister therefore requested the public not to queue up for fuel or top up for the next 03 days until delivery to the 1,190 fuel stations are completed. A new shipment of diesel from India, supplied under the credit line for fuel, had arrived in SL yesterday. more..

May 16 (DM) With the sufficient rainfall in the hydro-catchment areas, there is no need of generating electricity using thermal power plants, and the maximum power cut would be five hours, CEB Engineers Union said. They said the Soijitz and West Coast Power plants only have diesel in hand, but no other thermal power plants have the fuel. The fuel in hand with Soijitz power plant would only be sufficient for one day, while the West Coast Power plant has diesel for a maximum of 2 days, more..

May 16 (CI) Angelo Mathews' marathon innings in the oppressive May heat of Chattogram led SL to a competitive total, but it was heartbreak for him as he was dismissed on 199, the 12th batter to record the score in the history of Test cricket. Sri Lanka put up 397, having started the day on 258 for 4, and Bangladesh responded well, Tamim Iqbal and Mahmudul Hasan Joy scoring 76 runs in 19 overs to finish the second day more..

May 16 (ANI) SL is facing a large-scale economic crisis, a level of economic emergency of unprecedented nature, with nationwide anti-govt protests demanding the resignation of the country's Prez Rajpaksa. Sri Lanka has been suffering from the worst economic crisis in its history since gaining independence. The dire economic situation was caused by shortages of foreign currency as tourist flows dried up during the COVID-19 pandemic, preventing SL from purchasing enough fuel. more..