May 31 (CT) Profitability of the SL’s stock broking industry witnessed a 260% increase, recording a net profit after tax of Rs 6,308 million in 2021 compared to a net profit after tax of Rs 1,751 million reported in 2020, the SEC stated in its 2021 annual report. During the year of 2021, total turnover of the stock brokers increased by 215% compared to the previous year. “This was largely due to the stock market becoming the preferred choice for a large number of investors due to the lower more..

May 31 (Island) The NMRA has reminded the govt that the severe shortage of medicine and medical equipment as well as the continuing increase in the price of the entire range of medicines is due to the prevailing foreign currency crunch. NMRA President Dr. Rasitha Wijewantha and CEO Dr. Sachin Semage said that attempts were being made to blame his institution for the crisis but the situation had taken a turn for the worse more..

May 31 (DM) Chinese Ambassador Qi Zhenhong highlighted a five–point assistance from China to Sri Lanka in view of the economic crisis, fast-track ongoing projects and more FDI and Trade, bilateral debt settlement, support to Sri Lanka in its talks with the IMF and regarding International Sovereign Bonds and tourism after Covid, a statement from the Embassy said. He, along with his spouse Jin Qian started their three-days visit to the Eastern Province of SL on May 24 from Trincomalee. more..

May 31 (DN) The case filed against two accused, including former Minister Rajitha Senaratne, in connection with the controversial white van press conference was fixed to deliver its order regarding the preliminary objections raised by defence on June 7 by the Colombo High Court. Case was taken up before Colombo HC Judge Damith Thotawatte. On a previous occasion, President’s Counsel Maithree Gunarathne appearing for the accused Rajitha Senarathne, raised preliminary objections more..

May 31 (FT) Justice Minister Wijeyadasa Rajapakshe briefed Amarapura Maha Nikaya Maha Nayaka Ven. Dodampahala Chandasiri Mahanayake Thera on the proposed 21st Amendment. Minister informed Chief Prelate that the constitutional amendment is necessary to restore political stability and rebuild the country's economy. Minister said that the independent commissions will be empowered by the amendment while Procurement Commission and Audit Commission which were abolished by more..

May 31 (DM) Colombo Chief Magistrate Nandana Amarasinghe yesterday postponed for today to hear the bail application filed in the Colombo Chief Magistrates Court by the Counsel for Sashi Weerawansa, the wife of Former Minister Wimal Weerawansa, Sashi Weerawansa had filed the bail application through her lawyers before Colombo Additional Magistrate Harshana Kekunawala on Friday against her two-year jail term imposed on her by presiding Colombo Chief Magistrate more..

May 31 (TM) MEPA said that the charge sheet in the criminal litigation case concerning the MV X-Press Pearl incident, which occurred just over one year ago, is still being finalised by the AG's Dept, while a monetary claim for the environmental harm that was caused will be made soon. MEPA Chairperson Dharshani Lahandapura explained that there are two litigation cases that can be filed by MEPA; one being the civil case which covers more..

May 31 (GT) The Red Cross Society of China has donated 2,100 dry ration packs worth $40,000 to SL. Chinese Ambassador to SL- Qi Zhenhong and his wife attended the donation ceremony on Monday, according to the Chinese Embassy to SL on Tuesday. Qi noted at the ceremony held in Homagama town in Colombo District that China is providing urgent assistance through various channels from the central govt to public organizations to the people in Sri Lanka. more..

May 31 (AD) In a phone conversation with his SL counterpart, British PM Boris Johnson today assured the UK’s continuing support for the people of SL during the current economic crisis. British PM spoke to SL PM Ranil Wickremesinghe this afternoon, the UK PM’s Office confirmed in a press release. He began by congratulating him on his recent re-appointment as PM and underlining the UK’s continuing support for the people of Sri Lanka during their current economic difficulties. more..

May 31 (TM) In a letter to PM Ranil Wickremesinghe yesterday, the SJB expressed its support to repealing the 20th Amendment, and presented five key proposals to the 21st Amendment to the Constitution draft Bill put forward by the Govt. “As we informed you at the party leaders’ meeting on 27 May, the SJB will support the repealing of the 20th Amendment and bringing back the provisions of 19th Amendment,” more..

May 31 (FT) There are queues for petrol, diesel, gas in an endless list of queues. Husbands are in one queue; the wife is in another and children in yet another queue. Sri Lankans have no time to work and be productive. Given that 62% are daily waged the mix is highly inflammable. Several MPs have found their properties gone up in flames. Frustration has reached heights never before experienced in SL – not even the dark days of a 33-year-long near civil war produced frustrations to the average more..

May 31 (AD) Former Minister Wimal Weerawansa’s wife, who was found guilty of producing falsified documents to obtain a diplomatic passport, has been released on bail until the conclusion of the appeal hearing. The bail application filed by the attorneys of Shashi Weerawansa was taken up for consideration before the Colombo Magistrate’s Court this morning. Accordingly, Colombo Chief Magistrate released Shashi Weerawansa on a personal bail of Rs. 5 million and a cash bail of Rs. 50,000 more..

May 31 (AD) Cabinet of Ministers has given its approval to present a supplementary estimate to the parliament for the provision of Rs. 695 billion under the Budget Assistance Services and Emergency Responsibilities project of the National Budget Department. The proposal for the supplementary estimate was presented by PM Ranil Wickremesinghe in his capacity as Minister of Finance, Economic Stabilization, and National Policies. more..

May 31 (FT) The ill-conceived monetary policy measures adopted by the Central Bank since Nov 2019, which included excessive currency (notes and coins) issues, interest rate ceilings, fixed exchange rate, direct credit controls, and foreign exchange rules, have caused irreparable damage to the economy. This is reflected presently in the sky-rocketing inflation, rapid rupee depreciation, high interest rate costs, near-zero foreign reserves, consumer goods shortages, depleting more..

May 31 (AD) Supreme Court has issued an interim order suspending the special presidential pardon granted to former MP Duminda Silva while he was serving a death sentence. Accordingly, the country’s top court has ordered the arrest of the former MP. The CID has been directed to enforce these orders. Meanwhile, Attorney General has been instructed to provide necessary advice and assistance to the CID in this regard. more..

May 31 (DM) Education Ministry is conducting a formal investigation into abusing of an O/L female candidate by an exam invigilator on May 25. While issuing a media release, they said Minister Susil Premajayantha drew the attention of the Examinations Commissioner General to conduct an immediate investigation into the incident and to submit a comprehensive report. They said several social media reports claimed that an O/L female candidate was sexually harassed by more..

May 31 (DM) Major General Vikum Liyanage has been appointed as the new Commander of SL Army by Prez Rajapaksa today. Liyanage is the 24th Commander of the SL Army and he has received the letter of appointment from the Prez. He will be promoted to the rank of Lt-General with effect from tomorrow. He succeeds General Shavendra Silva who served as the Commander of the Army for nearly 3 years. Meanwhile, General Silva has also received the letter of appointment as CDS more..

May 31 (EN) PM and Minister of Finance Ranil Wickremesinghe has proposed an increase in VAT from 8% to 12% and a hike in the telecom levy from 11.25% to 15% with immediate effect. A statement from the PM’s office said the following proposals have also been made: Decreasing VAT threshold from Rs. 300 million per annum to Rs. 120 million per annum effective from Oct 1, 2022. Reviewing VAT exemption schedule and removal of more..

May 31 (EN) SL has imposed a two-hour power outage for Wednesday, with daily power cuts to be further reduced to one hour in the next few days, PUCSL Chairman Janaka Ratnayake said. On June 01, A, B, C, D, E, F, G, H, I, J, K, L, P, Q, R, S, T, U, V and W areas will have power cuts of two hours and 10 minutes each from 12pm to 6.30pm. Colombo city area could face a power cut of three hours between 6am and 9am. BOI industrial zones in M, N, O, X, Y & Z areas will lose power more..

May 31 (DM) SL Navy has deployed six relief teams in several places in the Sabaragamuwa and Southern Provinces as of Tuesday morning to provide relief to the people who live in vulnerable areas and are affected by flash floods, triggered by heavy showers in several parts of the island. The relief teams were deployed as per the directives of the Navy Commander, Nishantha Ulugetenne. Western Naval Command has despatched four flood relief teams to Rathnapura. more..

May 31 (Island) MoU between Prez Rajapaksa and PM Wickremesinghe would be made the supreme law of the land through the 21st Amendment to the Constitution, FSP Education Secretary, Pubudu Jagoda said. “The two men are from two different parties. There needs to be an MoU for their deal to be feasible. This is what happened with the 19th Amendment too. Then Prez was from the SLFP and the PM from the UNP. Instead of signing a MoU they came up with the 19A. more..

May 31 (NR) Department of Zoological Gardens says the lack of financial resources to meet the daily food requirements of animals at the Dehiwala Zoo and other gardens around the island has reached a critical state. At a discussion at the Department of Wildlife officials noted that zoos are facing severe shortages of food for animals due to factors including the decrease in foreign tourist arrivals, drop in tourist arrivals due to the fuel shortage and increase in the prices of food items. more..

May 31 (EN) Sri Lanka’s inflation in Colombo rose to 39.1% in May, after two years of money printing and a botched float with a surrender requirement that sent the rupee crashing to 380 from 200 to the US dollar. Colombo Consumer Price Index grew 8.3% in May after rising 9.3% in April with no sign yet that the central bank has got control of reserve money, though rates have been raised to kill private credit. more..

May 31 (DM) The case against Minister Prasanna Ranatunga and his wife was today fixed for judgment by Colombo High Court. Colombo High Court Judge Manjula Tillekaratne hearing the case informed that the judgment regarding this case would be delivered on June 6. Both prosecution and defence concluded their oral submissions before trial judge. Attorney General had filed indictments against Minister Prasanna Ranatunge, his wife Maureen Ranatunge and another person more..

May 31 (TM) The victims of the Bastian Mawatha shooting that took place yesterday, were formerly employed as security personel at a restaurant in Colombo and were returning after a court ruling to pay Rs 250,000 in damages to the restaurant owner, says Police Spokesperson. He made this statement while speaking to The Morning today (31). “There were 4 individuals travelling on 2 motorcycles. They were employed at a restaurant in Colombo where they had an argument with the owner. more..

May 31 (EN) SL, now in the throes of its worst economic crisis since Independence with an unprecedented food crisis also said to be on the horizon, will be self-sufficient in rice next year, minister of agriculture Mahinda Amaraweera claimed. He expressed confidence that SL will come out on top of the coming global food crisis and will no longer need to import rice in 2023. “After the next Maha cultivation season, we will definitely more..

May 31 (TM) Minister of Tourism Harin Fernando has had a discussion with former SL Tourism Development Authority (SLTDA) Kimarli Fernando. According to a tweet, the Minister stated that the discussion was fruitful and that he looks forward to working with her to develop the tourism industry in SL. Former Chairperson Kimarli Fernando provided a notice of her resignation as the Chairperson of all four tourism institutions in the country on 24 May. In her letter addressed to the Minister, more..

May 31 (ANI) Sri Lanka is keen to host the upcoming Asia Cup which will start from August 27 this year onwards and is making arrangements for it, said an Asian Cricket Council (ACC) source. The tournament is scheduled to be held in August. Though SL is the host for the tournament, questions are being raised if it could still happen as the country battles a major economic crisis. "Sri Lanka Cricket officials and ACC President met on sidelines of IPL final in Hyderabad and during this meeting, more..

May 31 (NR) Cabinet Spokesman Minister Bandula Gunawardana says Minister of Justice Wijeyadasa Rajapakshe will further brief MPs on the 21st Amendment to the Constitution on Thursday. Minister Gunawardana said the Justice Minister briefed the Prez on the proposed amendments during a meeting of govt MPs. Minister said concerns pertaining to the draft 21st Amendment were raised by certain MPs. He added Minister Wijeyadasa Rajapakshe will also brief more..

May 31 (AD) A brother and a sister were reportedly hacked to death amidst a heated family dispute, in the area of Mullegama in Nawagattegama. According to the police, the brother, aged 32 years, had attempted to reconcile a dispute between his 25-year-old sister and her husband. As tensions were escalating, the sister’s husband had killed the brother by attacking him with a knife. The husband had subsequently stabbed his wife – the sister of the deceased – to death. more..

May 31 (Island) A committee of experts who drafted a new Constitution intends to release its draft before the controversial 21 Amendment is placed before the Parliament. Prez’s Counsel Romesh De Silva led 9-member team, appointed by the Cabinet of Ministers, in Sept. 2020, on a proposal made by the then Justice Minister Ali Sabry, PC. Team included Gamini Marapana P.C., Manohara de Silva P.C., Sanjeewa Jayawardena P.C., more..

May 31 (AD) SL introduced a low tax regime in late 2019. The reforms included the reduction of tax rates of Value Added Tax (VAT), Personal Income Tax (PIT) and Corporate Income Tax (CIT), and narrowing tax bases of VAT and PIT, while introducing a plethora of tax incentives, such as tax exemptions for agriculture and Information Technology (IT) and enabled services, tax deductions and tax holidays. This caused an annual loss of around LKR 600 billion – 800 billion more..

May 31 (CT) Western Province Senior DIG Deshabandu Tennakoon has taken a 14-day leave and D.J. Palihakkara has been appointed as the Acting Senior DIG-in-Charge of the Western Province during that period. Previously, the Attorney General had directed IGP C.D. Wickramaratne to transfer Senior DIG Tennakoon so, as to avoid interfering with the on-going investigations into the incidents that occurred on 9 May. SDIG Tennakoon had reportedly instructed officials to tighten more..

May 31 (TM) An official from the state-owned national carrier SriLankan Airlines is tipped to be appointed Chairperson of the SL Tourism Promotion Bureau (SLTPB) after the recent resignation of Kimarli Fernando from the chairmanship of all four national tourism bodies, tourism industry sources said. SL Association of Inbound Tour Operations (SLAITO) Executive Committee Member Darshana Cabral stated more..

May 31 (Island) Minister of Power and Energy has refused to grant some CEB engineers permission for foreign travel for factory testing of equipment. CEB Engineers Union President Anil Ranjith Induwara welcomed the Ministry’s move considering the current situation facing the country and he said foreign tours should be stopped. “My view is that though foreign trips are needed, but this is not the time to depend on manuals,” he added. Another engineer said the engineers were to travel to more..

May 31 (DM) PM Ranil Wickremesinghe is making an effort to bring in political reforms and secure assistance from int'l community by the end of June, UNP Deputy Leader Ruwan Wijewardene said. Mr. Wijewardene who was speaking to party activists said the objective of the 21st Amendment is to bring in much needed political reforms. “The 21st Amendment to the constitution will strengthen Parliament. It has been proposed to set up 15 committees. more..